Wednesday 19th October 2016

In Major Pushback, Justice Okoro Alleges Amaechi, Umana Tried to Bribe Him Claims transport minister bandied Buhari’s name, ex-gov denies allegation President: Corrupt judiciary will render anti-graft war wasteful Tobi Soniyi and Omololu Ogunmade in Abuja In a major pushback by the

judiciary to absolve itself of claims that some judges have been taking bribes, leading to their recent arrest by the

Department of State Services (DSS) and further probe by the Economic and Financial Crimes Commission (EFCC),

one of the Supreme Court justices arrested by the DSS, Justice John Inyang Okoro, has alleged that he was targeted

because he refused to help the ruling All Progressives Congress (APC) deliver judgments in the Rivers, Akwa

Ibom and Abia governorship election appeals that were Continued on page 6

EFCC Set to Invite Dogara, Lasun, Others over N100bn Constituency Projects... Page 10 Wednesday 19 October, 2016 Vol 21. No 7853. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

Ken Saro-Wiwa's Son Dies, Wike Expresses Shock...

Page 10

ADVERTISEMENT

2

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

3

4

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

5

6

WEDNESDAY, OCTOBER 19, 2016 • T H I S D AY

PAGE SIX

EFCC Set to Invite Dogara, Lasun, Others over N100bn Constituency Projects Grills officials of 16 ministries

Iyobosa Uwugiaren in Abuja There are indications that the Economic and Financial Crimes Commission (EFCC) may invite the Speaker of House of Representatives, Hon. Yakubu Dogara, his deputy, Hon. Yusuf Lasun, Chief Whip, Alhassan Ado Doguwa, and Minority Leader, Leo Ogor, over the allegations made against them by the former House Committee Chairman on Appropriation, Dr. Jibrin Abdulmumin.

Abdulmumin, had among other issues, accused the speaker, other principal officers, and some House committee chairman of diverting N40 billion out of N100billion allocated to

constituency projects in the 2016 budget.

The former Chairman on Appropriation, who was recently suspended for 180 sittings over his allegations against his colleagues, said that constituency projects worth N40 billion were shared among the principal officers without the approval of the House.

He also claimed that the speaker ignored his complaint that the chairmen of 10 out of the 96 standing committees of the House inserted 2,000 projects worth about N284 billion into the budget, among others.

He further alleged that his refusal to accept a request to insert N30 billion into the 2016

budget caused the rift between him and the leadership of the House.

A senior operative of the EFCC told THISDAY in Abuja yesterday that the anti-graft agency was currently conducting a “discreet but thorough investigation” into the allegations made by Abdulmumin, disclosing that the investigation had reached an advanced stage.

“Our senior operatives involved in the investigation have grilled officials of 16 federal ministries in connection with the on-going probe into the allegations contained in a petition written to the commission by Abdulmumin, the source who spoke with THISDAY in confidence stated.

“Our operatives have gathered some evidence on some of the issues raised in the petition. The commission would soon send invitation letters to some of the members listed in the petition to our commission,” he said.

The source added that the investigation into the petition was “progressing smoothly”, saying that the investigation was being handled on a ministry-by-ministry basis and was going on well.

“Very soon, we will get to a point where those who have any case to answer would be summoned to make clarifications where necessary.

In this fight against corruption, we believe nobody is above the law,” the source said.

EFCC Chairman, Ibrahim Magu

IN MAJOR PUSHBACK, JUSTICE OKORO ALLEGES AMAECHI, UMANA TRIED TO BRIBE HIM favourable to the party.

In a letter he wrote to the Chief Justice of Nigeria (CJN), Justice Mahmud Mohammed on Monday, October 17, 2016, detailing his ordeal in the hands of the DSS, Justice Okoro said that a former governor of Rivers State and now Minister of Transportation, Chibuike Rotimi Amaechi, came to his house to persuade him to give judgments in APC’s favour and also promised to offer him millions of naira if he delivered.

This is just as Justice Adeniyi Ademola of the Federal High Court, who had also written to the CJN on the circumstances which he claimed led to his arrest by the DSS, yesterday withdrew from the trial of the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd).

However, Justice Okoro’s allegations were strenuously denied by Amaechi’s media office yesterday, which said in a text: “The accusation from Justice Okoro against Amaechi is a figment of his imagination, concocted to obfuscate the real issues for his arrest and DSS’ investigation of allegations of corruption against him.

“The claims by Justice Okoro against Amaechi are blatant lies, bereft of any iota of truth or even logic. Amaechi did not, and has never approached Justice Okoro in respect of the cases Okoro mentioned or any other case.”

The media office described it as a “cheap attempt, albeit, political move to drag the name of Amaechi into something he knows nothing about”.

It advised Justice Okoro to face his issues and leave Amaechi out of it, adding that the judge would be hearing from the minister’s lawyers soon.

Justice Okoro, in his letter, asked the CJN to disregard all the lies and media campaign orchestrated by those who felt he purposely refused to help them win their election appeals at the Supreme Court.

“I’m confident that God will vindicate me at the end of this ordeal. I take it as a temporary setback. I remain loyal to my oath of office and the need to be just and fair in

handling matters before me,” he added.

In the letter, Justice Okoro said: “My Lord, as at the time of writing this letter, the DSS has not confronted me with any petition or complaint from any quarters whatsoever.

“Rather, they have grilled me, asking questions on some none existing properties around the country. They have also doubted the age of my children, alleging that they are toddlers. This is sad and unbelievable.

“My Lord, I strongly believe that this my travail is not unconnected with the verbal report I made to you on the 1st of February, 2016 about the visit to my official residence by His Excellency, Rotimi Amaechi, former Governor of Rivers State and now Minister of Transportation.

“In that report, I told you My Lord, that Mr. Amaechi said the President of Nigeria and the APC mandated him to inform me that they must win their election appeals in respect of Rivers State, Akwa Ibom State and Abia State at all cost.

“For Akwa Ibom, he alleged that he sponsored Mr. Umana Umana, candidate of APC, for that election and that if he lost the Akwa Ibom appeal, he would have lost a fortune.

“Mr. Amaechi also said that he had already visited you (the CJN) and that you had agreed to make me a member of the panel that would hear the appeals.

“He further told me that Mr. Umana would be paying me millions of naira monthly if I co-operated with them. My response, as I told you on that date, was that it does not lie within my power to grant his request and that I would do all within my power not to be in the panel for Akwa Ibom State.

“My Lord graciously left me out of the panel for Akwa Ibom State. That notwithstanding, the APC in Akwa Ibom State which lost the appeal at the Supreme Court believed that my presence in the Supreme Court made them to lose the appeal. Could I have resigned from the Supreme Court simply because the people

of Akwa Ibom State had a matter before it?

“My Lord will recall that I also reported that Mr. Umana Umana visited my residence before Amaechi’s visit. He also made the same request of assistance to win his appeal at the Supreme Court.

“Mr. Umana talked about ‘seeing’ the justices who would hear the appeal. Pastor (Dr.) Ebele Ukpong who led Mr. Umana Umana to my house intercepted and said that the issue of ‘seeing’ the justices was not part of their visit and that as a pastor, he would not be part of such a discussion.

“Mr. Umana apologised. I advised them to go and pray about the matter and get a good lawyer. That was how they left my house.”

Justice Okoro claimed he did not know why he was being prosecuted, maintaining that he had always done his best to eschew all forms of corrupt practices.

“I have not received any bribe from anybody, My Lord is quite aware of my position as regards those that take bribe in the judiciary,” he added.

Justice Okoro said that on October 7, at about 9.00 p.m., he received a phone call from an unfamiliar caller who introduced himself as an official of the presidency.

He said: “He told me he had a letter for me from Mr. President. I immediately left my study room and went to open the door. Upon the door being opened, I saw so many heavily armed men with an inscription ‘DSS’ on their uniform.

“One of them who was in mufti said to me they were to search my house. I requested that I be allowed to inform the CJN but they rebuffed, rather, they seized my phone from me.”

He revealed the operatives searched all the rooms in his house meticulously and also searched the boy’s quarters and his official vehicles.

According to him, at the end of the search, which lasted till about 1.30 a.m. of October 8, 2016, they took away the following items: one Ipad, three phones, USD 38,800, N3.5 million and four

cheque books.

Justice Okoro also said that the operatives told him that their director-general (DG) would like to see him that night. He said that his request to allow him visit the DG first thing the following morning was rejected.

He said: “In view of the presence of the heavily armed men who accompanied them and who were pointing their gun at me from all angles, I had no choice than to follow them to their office that night.”

He added that he was detained till Sunday, October 9, 2016 when the CJN intervened.

Justice Okoro said before he was released, the operatives asked him to make a statement concerning the money found in in his house.

“I told them that having received the sum of USD 24,000 (twenty four thousand dollars) and £10,000 (ten thousand pounds) a year for the past three years of my sojourn in this court as annual medical/ vacation allowances, and having not spent more than £5,000 (five thousand pounds) on each of the three trips, I have so far made abroad, I was entitled to have more than the amount recovered from me.

“Put differently, My Lord, the money was the balance of my estacode received from this court for the past three years. This is quite outside the estacode I have received for the international conferences I have so far attended since joining the bench of this court,” he stated.

Justice Ademola Steps Down Justice Okoro’s mind-boggling allegations came just as Justice Ademola of the Abuja Division of the Federal High Court withdrew from the trial of the former NSA. Ademola was one of the eight arrested by operatives of the DSS for alleged corrupt practices. He is on administrative bail by the DSS. Dasuki was arraigned on September 1, 2015 over charges that bordered on unlawful possession of firearms and money laundering.

But due to intermittent interlocutory applications from both the prosecution and defence counsel, commencement of the trial of the former NSA has been delayed.

At the trial yesterday, the judge told the court that he would not be able to go ahead with the hearing of the case in view of the recent clampdown on some judges in the country by the DSS. Dipo Okpeseyi (SAN) was the prosecution counsel while the defence counsel was Adedayo Adedeji.

Addressing the court, Justice Ademola said: “I’m sure the prosecution and defence counsel are conversant with what has been going on in the last seven days in this country.

“One of the allegations being made against me by the Department of State Security is that I received certain sums of unspecified money from the defendant.

“Of course, I have responded to that allegation of receiving an unspecified sum of money from the defendant but it will be wise for him to answer some questions.”

“Do you know me at all or have you come in contact with me?” the judge asked Dasuki who was present in court.

“I don't know you My Lord,” Dasuki responded.

“Did you at any time give me money in respect of the ongoing trial?” the judge asked, to which Dasuki replied: “No, My Lord, I didn’t give you any money.”

Again, Justice Ademola queried: “Did you send any money to me; to any member of my family, or through any counsel?”

Dasuki answered: “No, My Lord, except the DSS agents who are reporting the allegation did.”

The judge said: “I am happy that you have answered these questions. In the interest of fair hearing, I am minded to return the case file to the Chief Judge of the Federal High Court for further action.”

Reacting, the prosecution counsel said: “We are guided

by Your Lordship’s decision even though we had come for a ruling and continuation of

the trial.”

Adedeji acknowledged the recent turn of events and said the judge was right to take that step.

Consequently, Okpeseyi requested an adjournment while awaiting the decision of the Chief Judge.

After listening to the counsel, Justice Ademola said: “This court is minded to transfer this case to the Chief Judge.

The defendant has vehemently denied in open court today the allegation made by the DSS. “Therefore, this case file will be returned to the CJ in line with the principle of fair hearing.

“This criminal matter has been adjourned to another date as may be fixed by the new judge.”

In his letter to the CJN, following his arrest, Justice Ademola had alleged that he was arrested by the DSS because he admitted Dasuki to bail and freed Nnamdi Kanu, leader of the Independent People of Biafra (IPOB).

Justice Ademola said he was held for over 24 hours before he was told the reason he was brought to the office of the DSS. He also saw his arrest as a Continued on page 8

TOP GAINERS NGN NGN TOTAL 14.47 303.97 NEIMETH 0.04 0.86 LIVESTOCK 0.03 0.88 BETAGLASS 1.00 31.00 PZ 0.40 18.40 TOP LOSERS NGN NGN AGLEVENTIS 0.08 0.85 DIAMONDBANK 0.06 1.14 SEPLAT 19.00 361.00 GSK 0.87 16.61 CADBURY 0.74 14.15 HPE Nestle Nig Plc N800.00 Volume: 154.161 million shares Value: N1.617 billion Deals: 2,510 As at yesterday 18/10/16 See details on Page 32

% 5.0 4.8 3.5 3.3 2.2 % 8.6 5.0 5.0 4.9 4.9

T H I S D AY WEDNESDAY OCTOBER 19, 2016

7

8

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

NEWS

Emirates, Kenya Airways Suspend Abuja Operations Dubai-based airline may also jettison Lagos route FG appoints two new directors in FAAN Chinedu Eze Dubai-based Emirates Airlines and Kenya Airways have announced the suspension of their flights to the Nnamdi Azikiwe International Airport, Abuja, Nigeria’s capital, in the face of the economic downturn in the country, foreign exchange scarcity, and the shrinking passenger traffic on international routes.

Emirates, one of the biggest foreign airlines operating in Nigeria, said it would stop flights effective October 22, while the East African carrier, Kenya Airways, has also announced that it would suspend flights to and from Abuja with effect from November 15, 2016 as part of its restructuring and loss-saving measures.

In this regard, Emirates was said to have written to the Minister of State, Aviation, Senator Hadi Sirika, over its intention to stop flights from Abuja, indicating its inability to buy FX.

The letter was said to have been received by the Permanent Secretary, Ministry of Transportation.

The airline was reported to have said, if after weeks off the Abuja suspension, no drastic change happens, Emirates would also suspend Lagos operations indefinitely and with that exit the Nigerian market.

Emirates like many major international carriers operating in Nigeria, has huge sums for ticket sales with the banks, which it has not been able to repatriate.

About two months ago, foreign airlines’ funds trapped in the Central Bank of Nigeria (CBN) was put at $900 million but the federal government granted the airlines access to FX at a concessionary exchange rate to enable them repatriate about 50 per cent of their ticket sales.

Besides the huge funds trapped in Nigeria, the recession has led to a reduction in passenger traffic, forcing

the foreign airlines to reassess the logistics of operating from Nigeria with low load factors.

Emirates Airline has also threatened to stop its flights into Africa if the economic downturn on the continent worsens.

The president of the airline, Tim Clark, stated this in Dubai yesterday at an International Air Transport Association (IATA) forum.

Clark said foreign airlines flying to Africa now refuel abroad because jet fuel supplies had become more expensive and scarce in some African countries.

“In certain African countries, the currencies have really gone down, so we’re reflecting on a number of these to look at where it’s just not worth for us to travel,” Clark said.

He added that Emirates’ load factor – a measure of capacity utitlisation – for the rest of 2016 and 2017, would probably be in the mid-70s to low-80s in percentage terms.

Clark, however, said there

would be some peaks and troughs in that time.

About a month ago, Emirates started tanking fuel from Accra, Ghana because of the scarcity of jet fuel in Nigeria.

Other foreign carriers were also forced to refuel at different locations outside the country before flying to Nigeria.

THISDAY contacted the airlines’ media office in Lagos and it confirmed the suspension of Abuja flights, stating: “Emirates can confirm that it’s suspending its four times weekly service between Abuja, Nigeria and Dubai with effect from 22nd October 2016.

“The decision was made after a review of the airline’s operations to ensure the best utilisation of its aircraft fleet for its overall business objectives.

The airline continues to serve Nigeria with a daily flight to and from Lagos.”

In a related development, the federal government after the recent shake up at the Federal Airports Authority

of Nigeria (FAAN), yesterday announced the appointment of two new directors to help the organisation realise its new set goals.

The new directors are Mrs. Nike Aboderin, who was made Director, Finance and Accounts (DFA), and Mr. Sadiku Abdulkadir Rafindadi, appointed as Director, Commercial and Business Development (DCBD).

The agency said Mrs. Aboderin is a Fellow of the Chartered Institute of Bankers of Nigeria (FCIB). She holds an M.Sc degree in Banking and Finance from the University of Lagos.

“Mrs. Aboderin possesses over 23 years experience in the financial services industry, which has exposed her to both public and private exploits at different institutions including multinationals.

“She is also an Advanced Management Programme (AMP) graduate of the Lagos Business School.

“In addition, she holds a

post graduate certificate in Global Strategic Management (GSM) from the Harvard Business School, Boston, USA. She is married with children,” FAAN said in a statement signed by its acting General Manager, Public Affairs, Mrs. Henrietta Yakubu.

The agency added that Rafindadi is a 1985 graduate of Economics of the University of Pittsburgh. He also holds an MBA in Finance from the Clark Atlanta University, USA. “He attended Kaduna Polytechnic, where he obtained a certificate in Management Studies. Mr. Rafindadi is a seasoned amiable manager who started his career as a young officer and rose to the pinnacle through diligence and commitment.

“Until his current appointment, Rafindadi worked in several management capacities in different institutions, including Phoenix Investment Services and British Petroleum. He is married with children,” FAAN said.

been achieved in preventing corruption in our public life.

“There is no doubt that corruption has significantly impaired our growth and development as a nation.

More importantly, it is the poor that are mostly affected by corruption.

“This is why the war against corruption must now be fought sustainably through systemic solutions.

“It is safe to say that we have failed before, for various reasons. Whatever, those reasons are, we cannot afford to fail again. This time, we must get it right.

“To lose this opportunity will have untold impact on our history and development.

The current initiative must be insulated from being used as a political tool for political witchhunts. It must not be allowed to be tainted in a manner that suggest selectivity,” Saraki cautioned.

In his keynote address, Kenyan activist and anticorruption crusader, Prof.

Patrick Lumumba, did not mince words about blaming Nigeria for the lack of progress in Africa, saying the continent would only see a glimmer of hope if Nigeria assumes its leadership position.

“You may not know this, but it has never been lost on me that the day Nigeria rises, that’s the day that Africa will rise. It must also be known that out of every five Africans is a Nigerian,” he said.

He lamented the damage corruption had done to Africa’s potential, saying it was the reason the entire continent, despite being larger than Europe, was trailing behind in relation to the gross domestic product (GDP) of smaller countries like Germany, France and Britain.

He also dismissed formulating new frameworks targeted at fighting corruption, explaining that Africa has a flood of legislations to combat corruption and blamed the problem on bad leadership.

“That's why African countries combined have a

GDP that’s lower than that of some individual countries in Europe such as Germany, France and Britain.

“Africans are poor because their leaders have chosen the part of corruption. One of the reasons why corruption thrives in Africa, is because African leaders are in the business of cannonising thieves, punishing the small ones and electing the big ones into offices.

“In fact, Africa has forests of legislations. One must bear in mind that there are a number of countries in African which have actually succeeded.

“These countries did so because their leaders meant what they said. African countries have the inclination to sign treaties and ratify them.

If you look at countries which were quick to sign protocols, they rush to sign everything on sight without having the willingness to do those things that the documents so signed demand of them,” he said.

Lumumba added that corruption could only be combated in Africa if it is made unattractive, noting that the menace is evident in every sphere of the society.

Also speaking, the head of the Presidential Committee on Anti-Corruption, Prof. Itse Sagay, said the legislature occupies a strategic position with the power to whip other arms of government into action.

However, he said the Nigerian legislature has failed to live up to its responsibilities, insisting that a corrupt legislature could not take its rightful position in a democratic government.

“For the legislature to play this role effectively, its own hands must be clean in order to effectively check other arms of government. A self-seeking and corrupt legislature cannot effectively check the executive or the judiciary.

“In my own humble view, our legislature has not shown transparency in the discharge of its responsibilities,” Sagay said, citing the recent allegation of budget padding as example.

IN MAJOR PUSHBACK, JUSTICE OKORO ALLEGES AMAECHI, UMANA TRIED TO BRIBE HIM revenge from Mr. Abubakar Malami, the Attorney-General of the Federation (AGF), whose arrest and detention he ordered for professional misconduct when he was a judge in Kano between 2004 and 2008.

Justice OfiliAjumogobia Ignores EFCC In a related development, Justice Rita Ofili-Ajumogobia of the Federal High Court, Lagos, yesterday failed to honour the invitation of the EFCC. However, Justice Musa Haruna Kurya, another judge of the Federal High Court, reported at the commission’s Lagos office at 10 a.m. yesterday, in order to respond to some findings in an ongoing investigation.

Kurya, accompanied by his lawyer, was attended to by the operatives of the commission on arrival.

Ofilli-Ajumogobia, who was also supposed to be at the commission’s office on a similar invitation, failed to turn up, reported the online news website, The Cable.

On Monday, two other Federal High Court judges – Justices Mohammed Nasir Yunusa and Nganjiwa Hyledzira – reported to the EFCC Lagos office, where they were quizzed for hours.

The National Judicial Commission (NJC), some months ago, placed OfiliAjumogbobia on its “watchlist,” and had barred her from being elevated from her present position, owing to gross misconduct.

NJC Speaks on Ghanaian Corruption Cases The NJC, meanwhile, has stated that the Ghanaian corruption cases against judges in the West African country were not the same as the cases in Nigeria.

In a detailed explanation of its position on the invasion of residences and arrests of

judicial officers by the DSS, the NJC said in an advertorial published in THISDAY today that the experience was not the same with the recent events in Nigeria.

It said: “The Ghana experience is not the same with the recent events in Nigeria between the DSS and the judicial officers that were arrested.

“The events in Ghana unfolded after a painstaking two-year undercover investigative journalism by a Ghanaian journalist, Mr. Anas Aremyau. Mr. Anas gathered evidence, including audio and video, supporting the allegations of corruption and bribery against some Ghanaian magistrates and judges.

“The evidence was turned over to the Ghanaian Judicial Council, equivalent of the NJC. The Hon. Chief Justice of Ghana, Justice Georgina Theodora Wood, took charge of the situation and assured the Ghanaian people that the judicial council would take, ‘prompt and resolute action to redeem the image of the Judiciary’.

“The allegations of corrupt practices and professional misconduct against the High Court judges were handled by the appropriate impeachment Committee of the Ghanaian Judicial Council.

“Attempts to obtain injunction to stop the proceedings were dismissed by the Ghanaian High Court. All the Judges found culpable of the allegations, were disciplined appropriately by the Judicial Council of Ghana.”

It noted that the residences of the judicial officers in Ghana were not raided neither were they arrested by the police or Ghanaian Secret Services equivalent to Nigeria DSS. “Indeed, they were not arraigned before any law court nor kept in the cell of the Ghanaian Secret Services Department or their houses searched,” it added.

The full statement of the NJC, part of which was

published last Friday, can be read in THISDAY newspaper today and on the website: www.thisdaylive.com.

Buhari on Corrupt Judiciary However, as the judiciary scrambles to exonerate itself of allegations of widespread malfeasance in its midst, Buhari has said a corrupt judiciary would make the war against corruption a wasteful venture, just as he said a corrupt executive and legislature would make the anti-graft battle a futile effort.

The president was of the view that if the ongoing war against corruption in Nigeria must be won, a synergy between reasonable and right thinking men and women must be secured.

Buhari made the remarks at the opening of a two-day anti-corruption conference in Abuja organised by the Joint National Assembly Committees on Anti-Corruption, with the theme: “The Role of the Legislature in the Fight against Corruption in Nigeria.”

According to him, corruption had eaten deeply into the fabric of the nation’s socio-economic and political structures as a result of the failure of past administrations to confront the menace with the required commitment.

However, he said his administration has opted to defy the status quo with a strong determination to combat the menace.

“Despite the widespread cynicism about the ability of the political class to fight corruption, we have indeed found the will to go after it with all that is within our resources as enabled by existing laws of our land.

“How do you explain a situation where funds meant to equip soldiers in a war that was consuming thousands, but was stolen by a few individuals, and then people still find the justification for such behaviour?

“We don’t set out fighting corruption believing and acting as if we are the best by virtue of our positions as chief executives and thinking that we will do it alone without employing other available human resources.

“That’s not what we need to win the war that’s threatening everybody; what we need is a coalition of reasonable men and women who would form the army of the willing in this fight.

“We need to know that a corrupt executive will destroy all that’s meant for development, that a corrupt legislature will frustrate all efforts to strengthen institutions via relevant legislation, and that a corrupt judiciary will frustrate all attempts at punishing corrupt crimes and those involved in them.

“We have an opportunity today to begin a national project which is not necessarily a finger-pointing exercise.

We must be aware that this Republic will fall and consume us all if we don’t put a practical plan in place using our laws and actions going forward,” the president said.

In his contribution, Senate President Bukola Saraki said the Buhari administration, unlike previous governments, had shown the political will to tackle the menace of corruption, which he said had held the nation hostage for four decades.

He added that whereas previous administrations had woefully failed in this regard, the onus lies on the current administration to seize the moment and institutionalise the fight against corruption.

However, he warned against using the anti-graft crusade as a platform to persecute perceived political enemies.

He also asked them to adhere to the rule of law and comply with court orders.

“For more than 40 years now, the ‘anti-corruption’ fight has remained a major policy thrust of successive administrations. While this is true, it is also unfortunately true that not much traction has

T H I S D AY WEDNESDAY OCTOBER 19, 2016

9

10

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

NEWS

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

Uncertainty Trails New PDP Reconciliation

Scheduled inauguration of peace panel fails to hold

Onyebuchi Ezigbo in Abuja A huge doubt has been cast on the new reconciliatory move aimed at resolving the crisis in the Peoples Democratic Party (PDP) as the inauguration of the reconciliation committee scheduled for yesterday failed to hold as planned.

The inauguration of the committee failed to hold despite the presence of some party chieftains including state chairmen and other stakeholders of the party at the Transcorp Hilton Hotel, venue of the event.

However, the Secretary of the PDP caretaker committee, Senator Ben Obi, told THISDAY that the reason for putting the inauguration of the reconciliation committee on hold was because the two sides did not outline the terms of reference for their assignment.

Obi who spoke with THISDAY on telephone late last night in Abuja, promised that the two sides were working out modalities

for the take-off of the peace panel, adding that everyone including the governors are involved in the effort.

Both the two key actors in the conflict and the National Chairman of a PDP faction, Senator Ali Modu Sheriff and the Chairman of the National Caretaker Committee, Senator Ahmed Makarfi, who gave assurances last week that the inauguration of the joint peace panel would take place yesterday, failed to show up along with other party leaders.

Those who showed up were restricted to the reception lobby as the hotel officials said there was no hall booked for the event.

It was gathered that Sheriff was the one who made the choice for the hotel after he rejected the Shehu Yar’Adua Centre proposed by the National Caretaker Committee as venue for the inauguration.

“Sheriff said he wanted a neutral venue not the Yar’Adua Centre because that was where the caretaker committee holds

most of its meetings. He is the one that was supposed to book for the hall,” a staff of the party disclosed.

The factional Chairman was also said to have refused to release the names of his nominees to the reconciliation committee. Each of the factions was expected to nominate 14

members who would make up the 28-member of the reconciliation committee.

After spending about 45 minutes waiting for the inauguration, journalists were advised to return to their offices “instead of loitering around.” They were promised to be contacted if there was

any development.

The Special Adviser to Sheriff on media, Inuwa Bwala, when contacted, said there were issues with the committee’s terms of reference.

He however, could not offer further explanation.

Bwala disclosed that Sheriff would not attend the

inauguration.

Also, when contacted, Adeyeye said he was not in Abuja and did not know why the event did not hold.

He expressed surprise that the inauguration failed to hold, adding, “So it did not hold?

I am in Ekiti now. I will call to find out,” he added.

Ken Saro-Wiwa’s Son Dies, Wike Expresses Shock Ken Saro-Wiwa Jr, the eldest son of the late renowned playwright and Ogoni environmental rights activist, Ken Saro-Wiwa, has died.

It was gathered that SaroWiwa Jr, who was based in Abuja, died yesterday in a London hospital after a brief illness.

THISDAY gathered that he died from complications arising from the stroke he suffered three days ago.

Born in 1968, SaroWiwa Jr. who was an international journalist and author, served in former President Goodluck Jonathan’s administration as a Special Adviser. He was

married to a Briton. Reacting to the news of his demise, Rivers State Governor, Nyesom Wike, commiserated with his family.

In a statement last night, Wike expressed shock over the death, saying it was a major loss to Rivers State, Nigeria and humanity.

The governor added that the late Saro-Wiwa Jr. devoted his life to humanity, pointing out that his transition to glory has left a vacuum that would be difficult to fill.

While condoling with his immediate family over his untimely demise, Wike prayed God to grant them the fortitude to bear the irreparable loss.

Benin Crown Prince Returns from Use, Edo Govt Declares Public Holiday for Coronation Adibe Emenyonu in Benin City Ahead of the coronation of the new Oba of Benin, the Crown Prince, Eheneden Erediauwa, yesterday left Usama palace for Use where he picked his title which is to be announced on coronation day.

Thereafter, according to a palace source, he would go back to Usama via Isekhere to Urhokpota ground for his coronation ceremonies slated for tomorrow (Thursday).

From the programme made available to journalists, Prince Eheneden as the new Oba would be having a thanksgiving worship at Holy Aruosa Cathedral, the Benin National Church.

Before this time, the Edaiken N’Uselu on, October 8, began the historical journey towards his coronation as the 70th of the Ogiso dynasty and the 39th Oba of Benin.

Meanwhile, Edo State Government has declared tomorrow a public holiday.

In an announcement signed by the Secretary to State Government (SSG), Prof Julius Ihonvbere, the public holiday is in honour of the Crown Prince, whose coronation as the Oba of Benin will hold same day.

The public holiday is to ensure a hitch-free coronation ceremony and give the Edo people the opportunity to partake in the historic installation of the Oba of Benin.

WE WISH YOU A NICE STAY

President Muhammadu Buhari (middle), with Minister of Foreign Affairs, Mr. Geoffery Onyeama (left), with the new Ambassador of the State of Israel to Nigeria, Mr. M’Guy Felderman,during the envoy’s presentation of his letter of credence to the president at the State House in Abuja....yesterday State House

FG Assures China on Counterpart Funding for Bilateral Agreements Tobi Soniyi in Abuja President Muhammadu Buhari has said the federal government is ready to provide counterpart funding for all agreements reached with the People’s Republic of China to fast- track ongoing efforts in closing infrastructure gaps.

A statement by the president’s media aide, Femi Adesina, said Buhari made the pledge while speaking with the Chinese Ambassador to Nigeria, Mr. Zhou Pingjian, at the presentation of Letters of Credence ceremony at the State House, Abuja.

Buhari commended the readiness of the Chinese public and private sectors to invest in Nigeria, especially in areas that directly improve the livelihood of Nigerians. ‘‘We really appreciate the efforts of the Chinese government and its people in supporting Nigeria’s development by always seeking to improve our bilateral relations. ‘‘We are also happy that China is working with Nigeria as partners in progress. We will work hard to always meet the counterpart funding for all the agreements reached during my visit to China in April, as we look forward to

stronger ties,’’ the president said.

Buhari also noted that the relationship between Nigerian and China had over the years bolstered the country’s economy through technology and skills transfer in areas like rail, road and energy constructions.

The president said Nigeria was ready to receive prospective investors from China who had signified interest in the country.

Earlier, the Chinese ambassador said he had been inundated with so many requests by investors from his country who had been ‘‘falling over one another” to explore business opportunities in Nigeria.

Pingjian said the investors had been attracted by the ‘‘remarkable and audacious’’ change process that Buhari’s

administration implemented in safeguarding security, fighting corruption and restoring integrity and sanctity in all public sector transactions.

Buhari also received Letters of Credence from the Ambassador of the Republic of Austria, Mr. Warner Senfter; Ambassador of the State of Israel, Mr. Guy Feldman, and Ambassador of the Kingdom of Norway, Mr. Jens-Petter Kjemprud.

Sokoto Becomes First State to Initiate Bill for Right to Education Governor Aminu Waziri Tambuwal of Sokoto State has initiated the Right to Education Bill 2016 in recognition and protection of right to education for children between six and 18 years in the state.

This is the first time any state in Nigeria will seek to legally make education a fundamental human right of all children.

The bill is one of the major components of the policy on the state of emergency in education declared in the state in December 2015.

“Sokoto will be the first state in Nigeria to provide right to

education, thereby bringing it in conformity with status of fundamental objective and directive principle of state policy under chapter two of the 1999 Constitution,” Justice Commissioner Suleiman Usman stated fielding questions from reporters in Sokoto.

He added that it would consolidate the declaration of emergency in education by the administration in concrete terms.

Usman described the bill as one of the major achievements of the Tambuwal administration, adding that in

view of the high premium the administration had given to rural transformation and delivery of social services to the people especially at the grassroots, the Social and Community Development Agency Bill 2016 has also been initiated by the executive and is before the state House of Assembly.

“This bill seeks to create social and community development agency for the execution of social and community development projects throughout Sokoto state,” he explained.

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

11

NEWS

PDP Condemns EFCC’s Detention of Fani-Kayode’s Wife Mrs. Fani-Kayode narrates ordeal, says commission lied

Onyebuchi Ezigbo in Abuja The Peoples Democratic Party (PDP) has frowned at the detention of the wife of former spokesperson of its Presidential Campaign Organisation, Mrs. Precious Chikwendu FaniKayode, by operatives of the Economic and Financial Crimes Commission (EFCC).

The party said it has advised the family to approach the courts and enforce their legal rights in the matter.

Fani-Koyide’s wife has also reacted to the explanation given by the antigraft agency regarding the incident, describing it as a bare-faced lie.

The wife of the PDP’s chieftain had gone to the Access Bank branch in Ado-Ekiti, Ekiti State to make a transaction shortly after visiting the state Governor, Ayo Fayose, when she was detained in the bank by the EFCC. In a statement issued yesterday by the acting National Publicity Secretary, Prince Dayo Adeyeye, the party said the action of the EFCC represents a new low in the federal government resolve to harass and persecute perceived enemies.

“We condemn in its entirety, the arrest and detention of Precious Chikwendu, wife of Chief Femi Fani-Kayode, former spokesperson of the PDP Presidential Campaign Organisation (PDP-PCO) on October 17, 2016, by the EFCC in Ado-Ekiti.

She was arrested along with her eight months old son, Aragorn, and would have been detained but for the timely intervention of Fayose.

“This action represents a new low in the federal government’s resolve to harass and persecute real and perceived enemies of the President Muhammadu Buhari administration under the guise of an anti-corruption crusade.

“It is reprehensible for the government to attack members of the families of its perceived enemies, especially wives and children, for any reason whatsoever.”

“In addition to freezing FaniKayode’s accounts, the federal government has ordered the freezing of his wife, Chikwendu’s account several of which were opened and operated long before their marriage.

These accounts have been frozen for no reason other than her marriage to Fani-Kayode.

“The Buhari administration cannot, and must not be allowed to continue the violation of the constitutional rights and freedom of the Nigerian people. This sort of tyranny must not be allowed to continue unchecked,” the party noted.

Meanwhile, Fani-Kayode has issued a statement denying EFCC’s version of what transpired during the encounter with his wife in Ado Ekiti.

In the statement issued yesterday, the Special Assistant to the former minister’s wife, Chineye Okechukwu, described the allegation by EFCC’s spokesman, Wilson Uwugiern that N2.4 million was found in his wife’s account as a “ lie from the pit of hell.”

According to the statement, “The assertion by one Wilson Uwugiern who is supposed to be the spokesman of the EFCC that Precious Chikwendu’s Access Bank account was used to launder President Goodluck Jonathan campaign funds or funds from the NSA’s office and that approximately N2.4 million balance was found in the said

account at the time of her arrest is a lie from the pit of hell.”

Chikwendu Fani-Kayode’s statement read: “The said account was opened in 2005 at Onitsha when Precious Chikwendu was about to commence study at the University of Calabar. At that time, it was not known as Access Bank but Intercontinental Bank. The account was used by her from 2005 till 2012 when it was abandoned and went dormant.

“It was not utilised or activated again until August 2016 when small deposits of between 200,000 and 500,000 were made into it and the total amount that entered into that

account over a period of two months was approximately N4 million.

“The money was spent on looking after the family; paying staff salaries and buying groceries. Consequently, at the time that the account was frozen last Friday, the amount that was left in it was N95,000. She was not notified about the freezing of the account until someone paid 200,000 into it last Saturday.

The money entered the account but after that it could not be accessed.”

Narrating their ordeal, her assistant said Chikwendu decided to stop at the bank on her way out of Ado Ekiti last Monday in order to know what was going on and she was then

detained and offered to the police and EFCC, together with her eight month old son Aragorn, for arrest.

She said: “The total amount that was in the account at the time of the arrest was N295, 000 which is approximately $600. This is reflected in the screenshot above together with the relevant dates.

“How Wilson of the EFCC arrived at his figure of N2.4 million being in the account at the time of arrest is mind-boggling and absurd. It is nothing but a shameless and barefaced lie and he and the organisation that he works for are nothing but pernicious liars.

“Finally let me add this. It is

not true that Precious Chikwendu has 17 accounts in GTBank. This is another dirty EFCC lie. She has one current account with a merged savings account in GTBank which was opened in 2012.

“Aside that, she has a dollar and a pounds sterling accounts with the same bank which were all opened on the same day in 2012. None of these accounts have any connection whatsoever with public funds or with Chief Femi Fani-Kayode and neither was any GT Bank BVN linked to his. Again, on this issue, the EFCC lied.

“Neither is it true that the EFCC were not at the bank in Ado Ekiti

to arrest her because three of their operatives were actually there manning the bank door with their identity cards pinned to their jackets. They were backed by five fully armed policemen in uniform.

“They made it clear to Chikwendu that they had been ordered to bring her to Abuja by road that same evening and that if she could not leave her son in the bank with the manager he would have to come for the ride too.

“Had it not been for the intervention of Fayose; that is exactly what would have happened and only God knows what they would have been subjected to on the way.”

12

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

13

14

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

COMMENT

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

CORRUPT JUDGES, BUHARI AND JUNGLE JUSTICE (1) The assault on judicial officers deserves condemnation, writes Sonnie Ekwowusi

T

his is the age of anxiety. This is also the age of restlessness. If you are not fleeing from kidnappers who are pursuing you, you are fleeing from the Police, LASTMA, VIO, FRSC or other uniformed men who had laid siege to the expressway to extort money from you. This place is not our home.

Where is our home? I want to go home. Even though we live in a country that ought to be governed by the tenets of the rule of law and constitutional democracy, we live in perpetual fear, the fear of jungle justice, the fear of state despotism.

Two weeks ago, the Department of State Services (DSS) invaded the homes of some serving Nigerian judges and suspended judicial officers and thereafter arrest them on allegations of breach of judicial ethics and corruption. While the dust raised by that invasion and arrest was still settling, the wife of the President of Nigeria, Aisha Buhari, passed a vote of no confidence on her husband. In reaction to the vote of no confidence, President Buhari has opened up and plainly told a bemused world that his wife belongs to his kitchen and his bedroom. The president probably made this statement to tell the world that his wife should not be taken seriously in the scheme of things in Nigeria. Trust the new media. It is already making a meat out of this dramatic showdown.

But the invasion of the homes and assault on the aforesaid serving judges and suspended judicial officers by the DSS is serious lawlessness that deserves our unreserved condemnation. Unfortunately, in the last one week, all sorts of public commentators have, due to ignorance or impelled by the increasing moral degeneracy at the bar and the bench, been trying to justify the DSS lawlessness. Do these uninformed commentators know that sections 153, 158(1), 160 , 161 and 292(1) of the 1999 Constitution have stipulated how erring judges in Nigeria can be disciplined and removed? Have these commentators bothered to read and understand the aforesaid sections of the constitution against the background of the DSS lawlessness? Do they know that the constitution is the supreme law of the land and that if any other law is inconsistent with the provisions of the constitution, the constitution shall prevail to the extent of the inconsistency?

In this piece, I will try to state the law and practice on discipline and removal of erring judges. First, let me state the common sense argument on why it is improper to use the DSS to discipline and remove erring judges. If the DSS can be dispatched to ambush corrupt judges at night many innocent judges will suffer. Many wealthy litigants will use the DSS to deal with innocent judges who had delivered unfavourable court judgments against them. More importantly, you cannot do wrong in order to right another wrong. Two wrongs cannot make a right. You cannot use illegal means to achieve a lawful end. If judges are corrupt, you cannot use another corruption to effect a correction. The end does not justify the means. The state cannot redeem the Nigerian judiciary through DSS jungle justice. No matter how corrupt or crooked you think the judges are you cannot use brute force and intimidation to discipline them because such jungle justice is a recipe for anarchy.

TWO WRONGS CANNOT MAKE A RIGHT. YOU CANNOT USE ILLEGAL MEANS TO ACHIEVE A LAWFUL END. IF JUDGES ARE CORRUPT, YOU CANNOT USE CORRUPTION TO EFFECT A CORRECTION

The judiciary, we keep repeating, is a veritable independent arm of government, not an extension of the executive to be pilloried and supervised at will. Under the Nigerian military, the legislative, executive and judicial powers were fused together and exercised by the head of state. The Nigerian military operated a monolithic and hierarchical government that did not admit of power sharing. Only the head of state or the Federal Military Government or the Supreme Military Council, was everything. Therefore it was possible for a Buhari to use the SSS to deal with anybody he liked. But not so under presidential democracy. Under presidential democracy supposedly practiced in Nigeria, the principle of separation of power with its attendant checks and balances holds sway. The judiciary is a separate arm of government, not an appendage of the presidency. It cannot be blackmailed or stampeded into becoming an appendage of the presidency not even for the purpose of achieving a grandiose objective. The judiciary has its own soul and dispenses justice pursuant to well laid down legal principles and tradition. Clearly the crackdown on serving judges and judicial officers through the DSS is, to say the least, a triumph of jungle justice and totalitarianism. It is a symbolic desecration of the entire Nigerian judiciary. Whether we like it or not, the wounds left by the crackdown will take a long time to heal. It will have its negative repercussions not just at the Supreme Court but across Nigeria. To use the DSS to instill discipline in judges is, above all, an interference with the independence of the judiciary reminiscent of the reign of terror during the period of military rule in Nigeria especially during the Abacha military era. Remember Obasanjo’s “Unknown Soldiers”? Remember IBB’s “mad dogs”? Remember “Mustapha’s assignment” during the Abacha dictatorial regime? And now we have Buhari’s DSS. Therefore, away with jungle justice. Away with any form of self-help. Away with use of brute force. Let the rule of law reign.

It is unfortunate that in Nigeria, we have grown accustomed to calling most criminal suspects “thieves”. In his recent article, one newspaper commentator was even saying that all Nigerian judges are rogues. What a generalisation! What a rash judgment! From his utterances since he came to power, it is obvious that President Buhari himself does not subscribe to the niceties of the court process and the rule of law. For example, the president’s responses to fielded questions on the anti-corruption crusade in Nigeria also portray him as someone who believes that anybody suspected to have stolen government money should be sent to jail and any lawyer trying to defend the suspect in court or, indeed, applies to court for his bail is conniving with the suspect to defeat justice. Also speaking during his first presidential media chat at the presidential Villa, President Buhari said that former National Security Adviser, Sambo Dasuki, and the coordinator of the Indigenous Peoples of Biafra, Nnamdi Kanu, should not be admitted to bail because of the enormity of the offences they committed. According to the President: “If you see the atrocities these people committed against this country, we can’t allow them to jump bail”.

PETER OBI AND THE PLATFORM LECTURE

A

Udodi Amalunweze argues Obi’s lecture must be consumed with circumspection

former Governor of Anambra State has been trending in the light of the October 1, 2016, lecture he delivered at The Platform, a programme of the Lagos-based Covenant Christian Centre. On account of that speech which, for his close watchers, has been his changeless theme since he strayed into partisan politics in the run-up to the Fourth Republic, many voices have risen in confounding hysteria, screaming that Nigeria has finally found its next president.

I decided to let the hoopla peter out, before disagreeing with our newest national leader.

For, whereas Chief Peter Obi may well be endowed with a political physique to fit into the country’s presidential toga, a note of caution cannot be out of place. Well before he is garbed in the paraphernalia of Nigeria’s highest office, it will serve the cause of common sense for people to step well away from the cesspool of gullibility, while Chief Obi recalls a few details of the recent past, or is forcefully reminded of them. After all, a people who pay scant regard to the lessons of history invariably repeat past mistakes.

His audience cheered when Peter Obi announced that he made a money-saving deal with Peugeot Automobile in Kaduna for 406 cars. Yet, he should remember that his preferred mode of vehicular travel during his governorship was not Peugeot cars. Nor was it his wife’s.

None of his brothers drove through Anambra’s streets in Kaduna-assembled vehicles. This point deserves close attention because this next president of Nigeria, this instant saint, disdains the fact that what is good for the goose should also be good for the gander. Surely, this man is a composite study in self and otherness. His fam-

ily cruised around in SUVs, and it was splendid.

Others, the flotsam and jetsam of society, were entitled only to the management of Footwagen and Legedis Benz.

His preachment on fiscal prudence went down well on his listeners but Peter Obi must have heaved with guffaws because he got them on the cheap. If he does not remember, he must be reminded that while it is commendable for a governor to travel alone and save costs, it is a repugnant detail that little was really saved in the end because the travel allowances of those debarred were also taken from the state’s coffers.

The platitude of “do as I say but not as I do” is trite today. But practitioners of such hypocrisy hardly deserve to be clapped into presidential mansions. Peter Obi will not forget that he paid the lowest salaries and wages across Nigeria in order to “save” money. After all, “money is meant to be saved and not to be spent.” But he certainly needs to be reminded that his saving modalities didn’t prevent him from pocketing each month hefty sums in the name of “security vote” which he conveniently described as controversial in his Platform lecture. He wears the profit motive everywhere like a garment.

Which makes it imperative for him to remember the governor that patriotically built a brewery to boost his state’s economy but heroically cornered most of the company’s shares. Without being reminded, he will readily recall that Anambra State used to have an Ikenga Hotel in Awka. It was reduced to rubbles during the mayhem that attended the infamous abduction of Governor Chris Ngige on July 19, 2003. Peter Obi will remember also that Ngige’s successor did not rebuild Ikenga Hotel but rather appropriated the prime land on which today is rapidly rising a replica of the bigger than Shoprite mall he

had built in Abuja. Yes, indeed, people must be frugal, they must tighten their belts because things are very hard and the economy is in a tailspin. But the philosophy of “do as I say and not as I do” precludes superhuman beings like our sanctimonious Platform lecturer from wearing midriff-slashing belts and partaking in starvation diets.

The same logic applies to the specifics of the high security measures that go with sensitive public offices. Peter Obi wants armour-plated cars scrapped. He swore before The Platform audience that he never used such vehicles during his eight-year governorship stint. Well, that happens to be untrue. As governor, he had not one but two armour-plated cars. When his tenure ended, he did not scrap the bullet cum bombproof vehicles. He did not leave them for his successor.

There is an area of his famous lecture the full implication of which has yet to dawn on his cheerleaders, especially the womenfolk. When Peter Obi insisted that the only confusion issues out of a First Lady’s office, was that a compliment to Nigerian women? Is it not true that, so far, no woman has run Nigeria, and hardly any woman has run any of its 36 states? Yet, confusion abounds in the country. But Chief Obi denigrates our women and discredits them as embodiments of confusion.

The office of the First Lady may not be in the letters of the Nigerian Constitution. But that does not make it unconstitutional or illegal. The office of Chief of Staff is not in our constitution.

But the president has one. Does it mean that Mr. Buhari is currently in offence of Nigerian statutes? Peter Obi had a Chief of Staff throughout his governorship. Was that down to culpable criminality on his part? The point is that in the

ambience of sound bytes, applause and cheers tend to obfuscate ideals and truisms while the pedestrian is celebrated.

Through history, famous first ladies have the world over employed the influence of their husband’s positions to impact society positively.

Two examples will suffice here. Betty Ford, First Lady of the United States from 1974 to 1977 underwent a mastectomy in 1974. Following this, she undertook it as a responsibility to raise breast cancer awareness throughout America, saving lives by the thousands. She further championed causes like gun control and equal rights. After her husband left office, she established the Betty Ford Center for substance abuse and addiction. She died in 2011 but the Center still operates.

Rosalynn Carter was US First Lady between 1977 and 1981. She chaired the president’s Commission on Mental Health. She was the honorary chairperson of Friendship Force International, a cultural exchange programme. Neither Mrs. Ford nor Mrs. Carter spent $2 billion dollars annually to assist society. But Peter Obi, without substantiation, claimed that each Nigerian first Lady consumed some N2 billion every 12 months. And people cheered. They did not ask how he came by the figure. They did not question the wisdom of his suggestion that the first lady’s office should be nullified. Was this because neither a president’s nor a governor’s wife could do any good? If the office of a first lady were a conduit for dissipation of public funds, would it not be better to staunch the haemorrhage than throw the baby away with the bath water?

Amalunweze, a retired civil servant, wrote via amaluagunanya@gmail.com

15

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

EDITORIAL MISMANAGING THE IDPS’FUNDS

T

How is the internally displaced persons’ money spent? The public deserves to know

he House of Representatives committee investigating alleged diversion of funds and materials meant for the internally displaced persons (IDPs) recently uncovered the alleged use of N270 million, just to clear grass, by the office of the Secretary to Government of the Federation (SGF), Mr Babachir Lawal. But the committee on IDPs and the Presidential Initiative on North East (PINE), mandated by the house to investigate the allegation on how about N12 billion was spent, said it was being frustrated by the refusal of the SGF to appear before it.

It is all the more disturbing that the PINE Executive Secretary, Mr Umar Gulani, would claim that the N270 million was spent on contract for the removal of “invasive plant species along river channels and simplified village irrigation scheme (phase II) in Komadugu Basin in Yobe’’. We subscribe to the view of the House committee chairman, Hon Sani Zorro that it is unacceptable that the SGF office “would spend such a huge amount IT IS OBVIOUS FROM THE of money on the REPORT OF THE HOUSE clearing of weeds COMMITTEE THAT THERE while 2.5 million IS NO ACCOUNTABILITY internally displaced IN THE MANAGEMENT victims of terror go OF THE FUNDS FOR THE hungry and have no shelter and medical DISPLACED PERSONS care.”

It is recalled that after a recent visit to the IDPs’ camps in Maiduguri, Borno State, the United Nations Special Rapporteur on the Human Rights of internally displaced persons, Professor Beyani Chaloka, said most memorably: “Food is scarce and many survive on one basic meal per day, while medical care is insufficient.

Civilians also require urgent protection, psychosocial support and counselling. Camps should offer protection. Yet I am alarmed to learn that many are in fact exploiting and abusing the most vulnerable. Reports indicate that women and girls face demands for sex to access food or to leave the camps. Early pregnancy and marriage

Letters to the Editor

T

are commonplace while many do not report abuse due to stigmatisation, cultural factors and the knowledge that perpetrators can abuse with impunity.”

In highlighting the issue in an earlier editorial, we pointed out that no perceptive observer of the grave humanitarian situation in the North-east of Nigeria would be surprised by the report of the UN special rapporteur because the shameful issues that he spoke about were widespread in the last 12 months or so. Indeed, the federal government is aware of the deteriorating conditions of the about 2.2 million internally displaced persons scattered around the troubled region and Abuja, the Federal Capital Territory. The government is also aware that those conditions had been worsened by the unwholesome activities of its officials saddled with the responsibility of ameliorating the sufferings of the people who had been displaced from their places of abode by Boko Haram insurgents and terrorists.

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

T

herefore, it is obvious from the report of the House committee that there is no accountability in the management of the funds for the displaced persons. Against the background that both President Muhammadu Buhari and Senate President Bukola Saraki recently called on the security agencies to investigate those who are feeding fat on the misery of our nationals in the IDP camps, we believe this provides an opening into such efforts. From the purported allocation of N188.69 million for Nigerian refugees living in Minawao, Republic of Cameroon to other claims, there are many questions begging for answers in the deployment of the IDPs’ funds.

The SGF must therefore be directed to explain the implementation framework being used to spend money. “We have been inundated by reports of diversion of materials and funds meant for the rehabilitation of the IDPs and the scandal had led to international embarrassment for the country,” said Hon Zorro. We agree with Zorro as we demand accountability on how the money belonging to the most vulnerable people in our society was spent.

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.

THE JUDGES DESERVE WHAT THEY GOT

he nation woke up early last weekend to the news that some judges of the Federal High Court and two justices of the Supreme Court were arrested by the Department of State Services (DSS). Indeed, this would be the first time such will be occurring in our country. So many commentators have condemned the federal government and the DSS for what they called intimidation of the judiciary. How I wish all concerned will pulse and ask ourselves how we got to this sorry state. It is only the diagnosis of the symptoms that led to this event that will put the act in its proper perspective. Before now, it is taken for granted that judges have immunity from arrest. Such reasoning is premised on the integrity of the judges and the notion that they can do no wrong. A story is told about a British judge who resigned his appointment because he was attempted to be bribed.

The fine judge resigned over a bribe he refused to accept. Why? The good judge said for someone to think that he can be bribed makes him unworthy to be on the bench! Not in Nigeria, true or false?

Justice Anaigolu told a story of how a man attempted to bribe him while he was sitting in Calabar, and on the next adjourned date, he put the man in the dock and ask him to give reasons why he should not be sentenced to prison term. That was then, not today. It is this unparallel integrity of the judges of old that gave the impression that judges are immune from state arrest. But things have since fallen apart and the centre can no longer hold. Gone are the days when one goes to court and hopes to get justice. The judiciary can

no longer protect the rights of the citizens. The yoke the judiciary has placed on the society is unequalled. Judgments of the courts are now for sale. I am of the view that this searchlight should also be beamed on the magistrates across the state of the country. The law has been relegated to the background. It is now justice according to sentiment, emotions and who paid the most. If a layman (as lawyers like to call the unlearned persons) reads some of the judgments emanating from some of our magistrates and judges, he would wonder if these judgments are according to law or according to the abstract notions of the magistrate or the judge. Judicial corruption is not only when a magistrate or a judges takes monetary bribe from any of the parties in a suit. The worst form of judicial corruption is where the magistrate or judge purposely ignores the law or placed it at the background because he or she wants to give judgment to a particular party. Such judgments are not supported by law and are antithesis to the legal system. Nothing stops such magistrates or judges from being disciplined and dismissed. Such is the state of the Nigeria judiciary today. So those who are fast in condemning the government for what they may want to call effrontery should rethink their position. They should think of the havoc the judiciary has caused the litigating public and the society at large. The DSS may have carried out these arrests in the wrong way, but such should not divert attention from what was intended. Judges are now keeping hard currencies in their closet and some want to call to their aid judicial immunity. Crimes must be punished if society must

be free from them. I am of the view that even the constitutional immunity conferred on serving president and his vice and the governors and their deputies has outlived its usefulness and should be scrapped. What is more, let those who fall foul of the law pay the price. Nigeria is for all of us and not for some people. The NJC may have been rattled by this event and has already taken a position. The truth is that the NJC is not doing enough to protect the integrity of the judiciary. It must step up its act. Judicial corruption is the worst form of corruption because it remains the last stop of the common man and the aggrieved. I digress.

The police should be the next pot of call. Some years back, the Nigeria police was voted as the most corrupt institution in Nigeria.

I think it still is. While the judiciary has the NJC the police internal means of disciplining its officers is non-existent or comatose. While the NJC takes any complaint against judicial officers somehow seriously, the police do not. Under the Babangida administration, a commission was set up to investigate allegations against members of the judiciary and the committee came out with its report. The report saw to the compulsory retirement of many judges. The present government should set such a commission to investigate issues pertaining to corruption and indiscipline of members of the Nigeria police. The police stations in the country are now money making institutions. This must stop if only the government has the will to act.

Chimezie Elemuo, Oginigba, Port Harcourt

16

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

Cont’d on page 48

T H I S D AY WEDNESDAY OCTOBER 19, 2016

17

18

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

The War on Judiciary

Federal Government’s recent descent on the judiciary is a bag of mixed feelings, writes Segun James

W

hen Muhammadu Buhari was sworn in as president of the Federal Republic of Nigeria on May 29, 2015, he carried with him a huge burden based on his promises to Nigerians that he would battle corruption in the country head-on as it has become a cankerworm on the nation’s body polity. How easy has this been 18 months after, given the fact that corruption has become a symbolic scourge on the nation?

A surprised woke up to the news that the following a string of operations carried out by the Department of State Services (DSS), seven senior Judges, including some justices of the Supreme Court of Nigeria had been arrested for their alleged involvement in corruption and fraud. The DSS revealed that a total of 15 Judges were under investigation over allegation of corruption.

The Judges so far apprehended are Justice Sylvester Ngwuta – Supreme Court, Justice Inyang Okoro – Supreme Court, Justice Mohammed Tsamiya – suspended Presiding Justice of the Court of Appeal, Ilorin Division, Justice Kabiru Auta – Kano State High Court, Justice Adeniyi Ademola – Federal High Court, Abuja, Justice I. A. Umezulike – Former Chief Judge of Enugu state and Justice Muazu Pindiga of the Federal High Court, Gombe Division.

The arrest of the judges was most welcome by a majority of Nigerians, who have always suspected that some of the judgments delivered by the courts are suspect. People who believe that the judiciary is the last hope of the common man were most disappointed that the corruption in the system got to as far as the Supreme Court, where the most revered of Nigeria’s justices determine the fate of the people.

While many people believed that the action of the government in exposing the supposedly corrupt judges was justified, the process and approach has continued to cause controversy and mixed feelings, which many reckon, reminds them of a similar purge in 1985 – an action from which the nation has yet to recover over 40 years later

Flashback to 1975 This was the war belied to have killed the civil service. Following the overthrow of the General Yakubu Gowon government by General Murtala Muhammed, the regime embarked on a systematic purging of the civil servants, most of whom were not only very powerful but super rich.

Under Gowon, it was not unusual for a Permanent Secretary to hold opposing views with his minister on issues at the Federal Executive Council meeting even though they both drove to the meeting in the same vehicle.

So pissed was Muhammed, a former minister himself that immediately after he took over government, the first people he punished were the civil servant whose services he terminated or dismissed. This action began the decline in the civil service as corruption as the most experienced and capable hands in the service were relieved of their appointment making the way for a new set of people, most of whom were inexperienced and incapable of managing their new posting. This action has continued to haunt the service till date.

Fast Forward to 2016 Forty years later, the nation is witnessing a similar situation, which might signal a decline in the nation’s judiciary as many of the supposedly competent and capable judges may be affected.

While many people are of the opinion that the fight against corruption is necessary, they however

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

believe that the way and manner the government is going about the process is wrong.

These people also hold the view that the attack on the judiciary is being done out of vendetta

by President Buhari in revenge for the many cases he lost while contesting the results of past elections he lost. But reactions have continued to trail the arrest of the judges in their homes by operatives of the DSS. While most of the voices have been in condemnation of the development, foremost rights activist and lawyer, Femi Falana, had a different view as he blamed it on alleged years of negligence by the National Judicial Council (NJC) to stamp out corruption among judges.

“As the detained judges are presumed innocent until the contrary is proved by the state, they should be admitted to bail in self-recognizance.

At the same time, the office of the AttorneyGeneral of the federation should ensure that the suspects are arraigned in court without any further delay.

“However, it is a matter of grave concern that the legal profession has allowed the denigration of the hallowed temple of justice because of the misconduct of a few corrupt judges. For several years, judges who committed grave criminal offences were not prosecuted but merely retired by the authorities on the recommendation of the National Judicial Council.

“Although the National Judicial Council recently recommended the dismissal and prosecution of a judge for extorting the sum of N197 million from a litigant, the authorities had paid lip

While many people believed that the action of the government in exposing the supposedly corrupt judges was justified, the process and approach has continued to cause controversy and mixed feelings, which many reckon, reminds them of a similar purge in 1985 – an action from which the nation has yet to recover over 40 years later

service to the menace of judicial corruption in the country.

“About two years ago, an anti-graft agency found N2billion in the account of a High Court Judge. As soon as the judge was invited for questioning, she reported and made a statement and was granted bail. But as she could not defend the lodgment in her bank account, she obtained an interlocutory injunction from one of the judges in the custody of the SSS. “It is common knowledge that two Senior Advocates of Nigeria are standing trial in the Lagos High Court for allegedly bribing a judge.

Even though it takes two to tango, the judge has not been charged to court for allegedly receiving bribe,” said Mr. Falana.

But Chief Mike Ozekhome, a Senior Advocate, disagreed with Falana’s position. He rather described the attack as dangerous and against the very foundation of democracy. To him, the arrest has more to it than just sniffing out corruption within the system.

“It started with political opponents and opposition. Some of us cried out. Many gloated with éclat and a sense of victory at opponents’ horrific travails. Then, they moved against some very senior and well respected lawyers being rubbished. Some clapped. They said it was anticorruption. We cried out. It extended quickly to the National Assembly, another different arm of government.

“Many hailed the government as tough, nononsense and anti-corruption inclined. Some of us warned. Now, the judiciary, up to the very apex court of the land, the Supreme Court, has been targeted and is now being intimidated, humiliated and annexed,” he said.

Ozekhome warned that if the clampdown was allowed to continue, the media would be the next target of the SSS. Trending along with this arrest of the senior men of the bar and the bench is the news of how some executive thieves in high places are aided by crooked judges, most of whom are now being arrested by security operatives to circumvent the law as the battle against corruption in the country exposes otherwise respectable and very highly placed people in the political, judicial and business scene in the country.

The problem of corruption in Nigeria has been on the front burner for a long time, but each successive government, after promising to clean the stable is soon enmeshed in the rot itself, and the circle continues.

But the first real attempt at fighting corruption emerged in 2001 when the government of Chief Olusegun Obasanjo set up the Economic and Financial Crimes Commission (EFCC) to wage

a frontal battle against corruption in the country.

Despite this effort, the achievements were limited as the government was said to have used the process to witch-hunt and battle its political opponents instead of the corrupt elements within the political elite, the civil service and the military.

But in the last few months, the government of President Muhammadu Buhari has been exposing the rotting underbelly of Nigerian’s political and judicial system showing that most of the nation’s leaders and judges are mere criminals.

Although the concentration appears only on the judicial, the problem of corruption is however believed to trickle down to the level of the messenger too, especially, in the civil service.

Officials in these government offices rarely solicit bribes, but if they are not offered, they work so slowly and arbitrarily that people see no hope of getting service done without offering one.

Because of the reputation of the country for corruption, a former Prime Minister of Britain, Mr. David Cameron in an unguarded moment described Nigeria along with Afghanistan as the most “fantastically corrupt” in a conversation with Queen Elizabeth of England.

In the last few years, anti-corruption crusade has met with little success, but for the first time in Nigeria, the struggle against corruption has been taken from mere lip service to serious national state policy.

Even globally, a Non-Governmental Organisation (NGO), Transparency International, which ranks a global world index of corruption level from the least – Finland – to the most corrupt – Afghanistan – which is ranked at 167, ahead of only Somalia and North Korea, in Transparency International’s 2015 corruption perception index, put Nigeria at 136.

But what is the cost of corruption? Today, the costs of corruption are widely discussed and they are stunning. It is estimated that graft costs the country over 25 per cent of the national G.D.P since over 70 per cent of the national budget is used for recurrent expenditure.

This is more than the budget for the Ministry of Education and Defence together. Why is this so? According to a report by the Transparency International, there is evidence that the transition to democracy tends to be a very corrupt period during which shaky institutions, rapid privatisations and unclear rules contribute to the problem. Countries like Nigeria just emerging from dictatorship tend to be more corrupt than the dictatorship they replaced. The report also has it that when the level of graft is high, the government tends to spend less on the needed basic infrastructure and more projects are chosen not for their value to the nation, but for their kickback potential.

However, the insult on the nation’s sensibility

by Cameron notwithstanding, Britain is not absolved of the mess that Nigeria has found itself as the colonizers contributed immensely to the rot by their activities, when they were in charge. There are evidences that a clean colonizer doesn’t mean a clean colony.

Although Britain is today one of the least corrupt nations in the world, according to the TI index, the most corrupt nations are indeed the poor ones. But grand corruption can be found everywhere in the form of Britain and its dependant territories being the safe haven for stolen money. This much President Buhari told Cameron in reply to his gaffe on corruption in Nigeria.

NOTE: Interested readers should continue in the online edition on www.thisday.com

19

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

RIGHT OF REPLY

MIDWEEKPOLITICS

Of The Platform and Olaleye’s Basket Ideology THISDAY Group Politics Editor, Olawale Olaleye’s take on former Governor Peter Obi’s lecture at The Platform, was misplaced. Esin Suji writes

A

s a literate Nigerian, newspaper columnist and commentator to boot, Olawale Olaleye reserves the right to speak and write on any issue of interest to him.

In so doing, he could well assume the toga of a democrat, rights activist, societal watchdog and advocate – all rolled into one.

Writing for THISDAY Newspapers, Olawale Olaleye captioned his piece of October 7, 2016 ‘Peter Obi’s Basket Ideology’ in reference to a presentation by the former Governor of Anambra at this year’s edition of ‘The Platform’ – focused on the critical issues of leadership, business, creativity and national empowerment.

Interestingly, this sober – privatelyorganized event was held on October 1 even as many Government Houses across the land liberally celebrated Nigeria’s 56 years of political independence. Peter Obi’s presentation was on ‘Cutting the Cost of Governance’ and he dwelt largely on his experience as a two-term governor.

Other worthy presenters at The Platform in focus were Dr. Olisa Agbakoba (SAN & past President of the Nigerian Bar Association); Revd. Sam Adeyemi (Founder of Daystar Leadership Academy); Bishop Mathew Kukah (informed analyst & commentator); Olusegun Adeniyi (Chairman, Editorial Board of THISDAY); Professor Osaghae Eghosa (erudite Vice Chancellor of Igbinedion University, Okada) and Bolanle Austen-Peters (Founder, Terra Kulture & BAP Productions).

The central theme was “The Economic Value of Nigeria and How Nigeria Can Be Made to Work.

After describing the presenters as “some of the best talents in this age” and the event “the best gift anyone or group had extended to the country during her Independence anniversary celebration in recent years, Olawale Olaleye characteristically proceeded to disparage the organisation of this year’s The Platform as “no less the biggest intellectual show of the year”.

However, his angst was directed principally at Peter Obi, whose “contribution appeared to have tickled the spontaneous fancy of a majority of those, who were either present at the venue or watched the live streaming” and “earned unsolicited applause almost at every juncture in his delivery”.

To all intents & purposes, The Platform was not a “show”, but a sober analysis and expose of the issues germane to the way forward for our country. ‘Intellect’ refers to “the ability to think in a logical way and understand things, especially at an advanced level”.

If the audiences took a spontaneous fancy to Peter Obi’s presentation and give him unsolicited applause, it is open to question why Olawale Olaleye is so upset.

Changing track, he acknowledges that “he (Peter Obi) was right about the degree of waste in government and the compelling need to reduce same especially at a time like this”, but asserts that “a debate on bullet proof cars is neither here nor there”.

In the process, he missed the point that was being made: that the Government of Anambra State could not afford bullet proof vehicles.

Back in his element, Olawale Olaleye accused Peter Obi of telling a few “lies” to his audience and they believed him. A lie is a lie, so why did Olaleye couch his use of the word in quotes (“lies”); and further insult the audience by describing them as naively gullible.

Olawale Olaleye contends that a lavish reception for visiting dignitaries will boost the image & sovereignty of the host. With that kind of logic, we are back to “Let us eat and drink, for tomorrow we shall die!” (Isaiah 22:13). Olaleye should know because along his career path, he was a Special Assistant to a Minister of the

But, beyond Olawale Olaleye and his Basket Ideology, the critical issues Peter Obi drew attention to cannot be wished away.

The failure of the generality of political leadership in Nigeria is arguably the single most debilitating factor against sustainable development and progress.

The cost of governance in Nigeria is excessive & unreasonable, and accountability relatively low

Obi addressing the audience at The Platform

Federal Republic. All along, Peter Obi was talking about pruning costs and eliminating excesses, not about starving his guests and staff of Government House.

Olawale Olaleye admits that “Any right-thinking person would detest waste, naturally, so cutting the cost of governance is not debatable but not service delivery since the primary purpose of government is to serve”. If service delivery is not part of costs, then Olaleye must be referring to something else one cannot decipher.

Making a case for long convoys Olawale Olaleye still loses sight of the focus of Peter Obi’ presentation. During his tenure as governor, he cut costs where necessary and feasible. His convoy was enabled to provide him the relevant courtesies as a VIP, and served the purposes all through his 8-years in office. His convoy was neither a security patrol nor a mobile ambulance service.

If he had dug deeper, Olaleye would have ascertained that some of the resources freed from the excesses went into supporting health services, security operations, education, among others. In quickly attempting an analogy to the assassination of the then Swedish Prime Minister, Olof Palme, Olaleye cannot determine it was a fall-out from cutting cost of governance. So, how informed is he to inform us – the apparently hapless readers?

Olawale Olaleye challenges Peter Obi for not paying “doctors’ salaries for nearly two years”, though he had huge savings.

What does he know about the dispute then? Clearly little! Mr. Obi’s problem with doctors was not the inability to pay their salaries, but his insistence that the increase they demanded was not sustainable. Obi insisted on paying within what other Southeast governors paid and not what Federal Government was paying at that time.

Sadly, for Olaleye, he exposes further ignorance of the infrastructure developments in Anambra State during the Obi tenure. It is a wide sector of tangible dimensions. On roads alone, Anambra State under Peter Obi

was adjudged by the federal authorities as having the largest & best road network in the country.

Even questioning the integrity of the savings, the Freedom of Information Act empowers Olawale Olaleye to request the relevant information from the banks, whose identities have been widely publicised.

Being a newspaper operative, it is assumed he knows what investigative journalism is all about.

At this stage, Olawale Olaleye begins to reveal an interesting colouration. From a supposed analysis of Peter Obi’s presentation at The Platform, he veers into accolades for the incumbent Governor of Anambra State, Chief Willie Obiano: “…there is no basis for comparison. Obiano is one of the rising star-governors in the South-east region on account of his serious approach to governance. He is fixing roads and guaranteeing security, which Obi failed to provide in the name of savings …Whatever was however left, Obiano put it to work immediately and today, Anambra is better for it, no doubt. Not because Obi saved up for the state but because a better manager of resources assumed office”.

While reading this, the saying that he who pays the piper calls the tune came to my mind. The work Obi did in all sectors in Anambra State is yet to be equaled.

Anambra people are still testifying to that.

Continuing, Olawale Olaleye rambled on: “Obi is generally believed to have left Anambra in a state of poor infrastructure …

What then is the big deal about saving – to get your money and put it in a bank? Good, but any idiot can do that”, and so on and so forth. In Olawale Olaleye’s world, idiots can save money; and we know that idiots do not perform positive acts. The dollar Obi saved for Anambra State is valued at 180 billion naira today. He was the only Governor who did not owe contractors or salaries and left such money. He should he held up in Nigeria as a byword for financial management.

To the dismay of his principal, Olawale Olaleye gives all the credit to Peter Obi for selecting a successor who is doing very well – to Olaleye’s approval. In local parlance, we would say: ‘Now, you are talking, Wale.

We know where you are coming from’.

Wale Olaleye is all for “Chop, Chop”, especially if he has access. Having delivered a last missile against Peter Obi, he saunters to other matters to fill his assigned space.

Wale Olaleye’s undisguised bias and antagonism against Peter Obi is palpable.

Not contented with his tirade, he concludes with venom: “Indeed, a basket – absolutely hypocritical ideology!” He has been intemperate in his use of language – blowing hot and cold simultaneously. Though English is the official language of communication in Nigeria, many reason first in our vernacular and attempt to translate literally into English.

In picking former Governor for target practice, Olaleye exposed a big hiatus in his understanding & appreciation of the valueadded Obi tenure in Anambra State and of the man himself. He has further insulted the audiences within and outside the venue of The Platform, and offended the sensitivities of millions of Nigerians traumatised by the lunacy of reckless spendthrifts in positions of public power.

But, beyond Olawale Olaleye and his Basket Ideology, the critical issues Peter Obi drew attention to cannot be wished away. The failure of the generality of political leadership in Nigeria is arguably the single most debilitating factor against sustainable development and progress. The cost of governance in Nigeria is excessive & unreasonable, and accountability relatively low. If we sincerely seek to attain meaningful development, we should reject clouded purposes, broken promises, sycophancy and venality in the conduct of public affairs.

In demonstrating the varied ways through which he managed successfully, the resources available to his administration in Anambra State, Peter Obi was able to implement his locally & internationally-acclaimed Anambra State Integrated Development Strategy (ANIDS). Incorporating the then Millennium Development Goals (MDGs), ANIDS enabled his administration to aim at many targets and score several direct hits.

No reasonable person should deny him that, and the varied commendations from people and institutions who should know, are telling.

Peter Obi’s presentation at The Platform has thrown a great challenge to well-meaning Nigerians in and out of the corridors of power – that with a clear vision, mission and commitment, positive outcomes are assured in governance. So help us God. - Osuji wrote from Abuja

20

WEDNESDAY, OCTOBER 19, 2016, • T H I S D AY

FEATURES 'When I Tell People I’m a Farmer, They Laugh at Me’

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

Benjamin Nworie writes that Dr. Emmanuel Onwe, the Ebonyi State Commissioner for Information and State Orientation, has taken the lead in driving the state government’s rice farming policy

Onwe supervising his rice farm

O

ver the years, farming has been the main business of Nigerians and the pride of the people. Nigeria is a great country through its massive agricultural potential. However, the discovery of oil has swayed the flair of Nigerian farmers, which was also worsened by over dependence on importation of food and cash crops into the country.

Government on its part has discouraged farmers from farming throughpolicies and programmes.

Also, worrisome is the fact that those enthusiastic farmers have dumped this glorified vocation to search for white collar jobs, whilefew find solace in politics. Farming has become a laughing stock or misconceived business for vulnerable people. Nobody wants to farm because of the urgent need and desperation to make quick money from the liquid black gold- crude oil.

The problem of Nigeria’s economy started the day; agriculture was jettisoned and relegated to the background on the discovery of oil.

Though, Nigeria has lived and hoped on oil as the major source of revenue but the “doom” being witnessed in the sector today occasioned by the activities of the Niger Delta militants and vandalisation of pipeline installation has placed the country with unprecedented opportunities to explore.

Instead of holding forth, the potentiality of agriculture, the federal government delved into oil exploration, forgetting the unpleasant story of its beginning in the hands of the colonial masters, when agriculture played “sacred” role of life sustenance.

With the floodgate of food importation, it became so awful and excruciating to venture into farming when any type of food can still As the economy heads into deep recession and the foreign exchange keeps rising to topmost, it is therefore expedient to take

agriculture as the only means of Nigeria's survival.

In Nigeria today, most successful rice farms are owned by foreigners, in Kwara, Nassarawa states and other places and they are making a whole lot of money. This point, Nigeria is on the right track to get things done appropriately.

If the ban on rice importation subsists, it will

When I tell friends and certain people that I am cultivating rice on the large scale, they laugh. When I tell young people that I am cultivating rice, that I have a rice farm, they laugh. When I tell people of certain level that I think know, what it’s all about, they will also laugh. That has baffled me. Why are you laughing? And I answered my question.

They think that people like me should not farm.

That some categories of people are exempted from doing certain things

spur Nigerians into farming and there will be food sufficiency and job opportunities for the teeming unemployed youths.

It has become a policy in Ebonyi State that agriculture is the only alternative and priority of the government and its people with the special interest in rice production. The need for rice production in Ebonyi State cannot be over emphasised because it is the identity and pride of the people. The state is known for rice production.

Ebonyi State has enjoyed the bragging rights of rice production. Thepopular Abakalki rice is second to known because of its unique taste andquality. It’s naturally salted. The state governor, David Umahi,insisted that all government appointees and workers of the state civilservice, schools of all categories owned by the state government must have verifiable proof of rice farming.

It was however amazing and incredible that a London trained legalluminary and exemplary politician, Dr Emmanuel Onwe could set the pace with the cultivation of 100 hectares of rice. It gives him joy andself esteem. Because of his position as Ebonyi State Commissioner for Information and State Orientation, Onwe said he would take the lead and drive Umahi’s policy to fruition.

Onwe’s experimental rice farm has further shown that no investment made in agriculture would be a waste if given the needed support and attention. It has also hit the record to have been the biggest rice farm since the creation of Ebonyi State.

It’s a personal farm, not government. The farm has been lying fallow owned by the National Youths Service Corps. The governor and Onwe negotiated with NYSC and took it over and decided to use it and show example.

NYSC has not been cultivating the land for good reason. They said it was because of the Ezza-Ezillo crisis and all their workers were reluctant to come.

Situated at Abakaliki-Enugu Expressway, the experimental private farm has remained a reference point that indeed, much hope and succour are embedded in rice production. This standard and uncommon feat has equally shown that rice production excludes no one.

In the state, for instance, farming is always seen as the business of the poor people who could not afford government job.

Onwe said “when I tell friends and certain people that I am cultivating rice on the large scale, they laugh. When I tell young people that I am cultivating rice, that I have a rice farm, they laugh. When I tell people of certain level that I think know, what it’s all about, they will also laugh. That has baffled me.

Why are you laughing? And I answered my question. They think that people like me should not farm. That some categories of people are exempted fromdoing certain things.

“This is an experimental farm of one hundred hectares of land with the investment of about 15 million naira. It is a calculated experiment and a calculated risk as well. If it yields to the expected experiment, it will yield six times over and there’s no other business that will give you that. I was born in a rice farm. No technicalities. What you to do is to make sure you have the right land. This is the combination of upland and swampland.

“It is a traditional stuff. It was also a joy for me to do that because it shows that the traditional method can still get us to good place. Though the governor had said that agriculture with local technology is not going to drive Nigerians out of the dungeon we are today. Off course, I am a lawyer. I am a British trained lawyer. I have not cultivated rice for years. It’s congenital. It never dies.

What I am doing here helps me to save 10 dollars of foreign exchange. If one million Nigerians do so, that will reduce the ridiculous exchange rate at least by a factor of about three per cent.”

21

WEDNESDAY, OCTOBER 19, 2016, • T H I S D AY

FEATURES

Onwe...proud to have a rice farm

Onwe (middle) at his rice farm

A section of the rice farm

Because of the free flow of importation, the sweat and pains of rice farming becomes a nightmare to farmers but remains the only condition to meet up with family needs. Ebonyi has always been known for its quality of rice, the exceptional nature of its rice. Abakaliki rice became the gold standard. And the governor once said that Abakaliki rice should not die on the lips of Nigerians. Because when once that happens, there is no other thing that identifies them as a unique entity.

However, this giant stride is imbued with enormous challenges. Supervision was herculean and tedious. To work round the farm takes about six hours. Considering the landmass and the swampy nature of the land, transplanting system was used to enable the rice grow while broadcasting system was used for the upland sections.

About 56 bags of rice were used for the broadcasting with about 850 bags of fertiliser.

Different species of rice were used. For upland, he used Ferro 44. Ferro 44 was also adopted

by The Minister of Agriculture and Rural Development, Chief Audu Ogbeh. When the minister visited Ebonyi, last month, he said that Nigeria should use one specie of rice and that is Ferro 44.

Onwe said he experimented with Ferro 52 and 57, but it failed spectacularly. In Ikwo, there were reports of the failure of the Ferro 52 and 52. “But the Ferro 44 is so adaptive,

I am a British trained lawyer. I have not cultivated rice for years. It’s congenital.

It never dies. What I am doing here helps me to save 10 dollars of foreign exchange. If one million Nigerians do so, that will reduce the ridiculous exchange rate at least by a factor of about three per cent

resilient.

At the start, all efforts to do mechanisation failed because the cultivation was started in August when the rain had come to the degree that tractors could no longer move on the field. This necessitated the use of manual labour. And because there was no time to apply pre-chemicals, every day, about 500 local workers were deployed from Ikwo Council areas and other areas in the state to work on the farm for grass clearing, tilling and weeding. Labour at this stage cost about four million naira.

Onlookers are startled that it was a great risk to invest such huge amount of money for experimental purposes when the country is still not certain on its policy direction. Onwe said he ventured into the business because he would no longer buy rice from the market.

“Unless the Federal Government becomes crazy and lifts the current ban on the importation of rice, they will ruin people like us.

They will ruin this huge investment. They will ruin young, old and poor farmers in the villages that depend on this for their livelihood. The ban on the importation of rice should be maintained and enhanced so that more people who see that people like

us are into farming would be driven into it.

“We have gone from oil boom to oil doom.

This country is faced with grave errors which is our direct dependence on crude oil. It’s a great challenge but presented with unprecedented opportunities. I tend to keep doing this. The day I will stop is the day, they will lift ban on importation of rice,” he said.

“As the rice nears yielding stage, the anxiety of birds already gathering at the season raises great concern because when one go to battle with weaver birds, he or she can’t ever win it. This is where technology is needed to be absolutely deployed.

There are devices you use that emit ultrasonic sounds, emit microwave sounds specifically designed for the way birds behave. If they hear the sound, they run away. There are tapes that are designed in such a way that when birds see them, they may not want to go near it.” Onwe added.

In the next planting season, Onwe noted that arrangement was in top gear to acquire about 1000 hectares of land in Ikwo for rice farming and cassava production. If this feat is sustained and enhanced, no doubt, Ebonyi State would be capable of feeding over 90 per cent of the Nigeria’s population

22

IMAGES

L-R: Provost, Anti-Corruption Academy of Nigeria (ACAN), Prof. Sola Akinrinade; Founder, Corruption Not in my Country Project, Mr. Akin Fadeyi; civil society organisation (CSO) expert, Kehinde Osotimehin; and the Programme Associate, Anti-corruption, UNDP, during a training workshop in Lagos...recently dan ukana.

L-R: General Manager, GOtv, Akinola Salu; DJ Kentalky; comedienne Helen Paul; and GOtv Marketing Manager, Johson Ivase, during GOtv’s fifth anniversary customer fair in Enugu State...recently

School children at the Nestle Nigeria Plc-organised cooking competition on Nutritional Lifestyle Cooking titled: ‘Catch them Young’, in Lagos...recently Q dan ukana.

L-R: Cast of The Movie ‘76, Nollywood actor, Ramsey Noah; actress, Rita Dominic; and Executive Producer, Prince Tonye Princewll, during BFI London Film Festival in London...recently

WEDNESDAY, OCTOBER 19, 2016, • T H I S D AY

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

L-R: General Manager, British American Tobacco Nigerian Foundation (BATNF), Abimbola Okoya; Special Adviser on Food Security, Mr Ganiu Okanlawon Sanni; representative of Lagos State governor and Secretary to the State Government (SSG), Mr Tunji Bello; Commissioner for Agriculture, Hon. Toyin Suarau; Executive Director, BATN Foundation, Mrs Oluwaseyi Ashade; at the BATNF exhibition stand during the World Food Day celebration at the Lagos State Ministry of Agriculture, Oko Oba, Agege, Lagos...recently

L-R: Globacom’s Head of Operations, South-south, Mr. Enekwachi Aja; the Obi of Onitsha, Igwe Alfred Nnaemeka Achebe; Igwenwanyi Achebe; and Globacom’s National Sales Coordinator, South-east, Mr. Gabriel Okoli, at the Ofala Festival Royal Banquet organised by Globacom in honour of the Igwe in Onitsha...recently

L-R: Hon. Ladi Adebutu, Senator Solomon Olamilekan, a former Ogun State governor Gbenga Daniel and Mr. Biyi Otegbeye at Mama Otegbeye’s funeral service...recently

L-R: Director General, Lagos Chamber of Commerce and Industry, Mr. Muda Yusuf; Permanent Secretary, Lagos State Ministry of Information, Mr. Fola Adeyemi; Acting Managing Director, Bank of Industry, Mr. Waheed Olagunju; and Representative of Ijebu Ode\Odogbolu\Ijebu North East Federal Constituency, Hon Odeneye Olusegun, during the 2016 Commerce and Industry Correspondents Association of Nigeria Summit and Award ceremony in Lagos.. recently. kolawole alli

23

WEDNESDAY,OCTOBER 19, 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

NIBOR

29.4167% 20.7904%

3-MONTH 6-MONTH

A S

A T

21.4458% 24.7096%

NITTY 1-MONTH 2-MONTH 3-MONTH

O C T O B E R , 15.8218% 15.8678% 16.2693%

6-MONTH 9-MONTH 12-MONTH

1 4 , 19.3764% 20.5132% 22.4006%

2 0 1 6

EXCHANGE RATE N308.69//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Operators Mark Odife’s Anniversary

LUCKY WINNER

L-R: ,Area Manager, Port-Harcourt II, Diamond Bank Plc, Soala Inyang; Diamondxtra South- South N1million Winner, Olukayode Ajayi; and Branch Manager, Aba Road, Port-Harcourt, Diamond Bank Plc, Chinazom Nkem Ogbonna, at the DiamondXtra South-South prize giving ceremony held in PortHarcourt...recently

FG Urged to Improve Efficiency in Public Sector Obinna Chima

The federal government has been advised to pursue economic liberalisation policies, including privatisation policies so as to improve efficiency in the public sector.

Analysts at Afrinvest West Africa Limited that gave the advice in a report at the weekend said this was neccessary to generate the much-needed cash flow to invest in capital projects and increase borrowing capacity.

Nigeria’s fiscal deficit had been projected to grow by 22.3 per cent from N2.2 trillion in 2016 to N2.7 trillion 2017 fiscal year, thus deficit/GDP ratio is expected to settle at 2.5 per cent in 2017 from 2.1 per cent in 2016.

Whilst the government’s decision to aggressively borrow from the local debt market to fund the budget deficit in 2016 reduced its susceptibil-

ECONOMY ity to exchange rate risk, the Medium-Term Expenditure Framework (MTEF) for 2017 suggests that over the medium term, the federal government will be more skewed towards external financing options, in order to free up local funds for private sector investment.

“However, high debt servicing cost to revenue ratio remains a constraint on ability to continue running below 2.5 per cent fiscal deficit to GDP ratio notwithstanding low debt to GDP ratio (17.0%). Also, given the bearish outlook for the naira, the plan to redirect attention towards external financing options suggests the projected amount for debt servicing will shoot up in 2017 - depending on the performance of the naira.

“The 2016 fiscal year has been largely synonymous with a sharp slowdown in economic

activities largely as a result of lower oil earnings which constrained fiscal revenue and foreign exchange supply, as well as underwhelming policy responses and a brooding sub-national fiscal crisis which peaked in the first half of 2016,” the report added.

With a change in monetary policy tact to inflation targeting in first quarter 2016 – demonstrated by two rate hikes - in a bid to bolster FX supply, the federal government has been clear on its intent to counterbalance monetary tightening by utilising available fiscal space to buoy expenditure as a strategy to deepen economic diversification and stimulate economic activities.

Also, it pointed out that despite government’s intent to diversify revenue base and relegate oil earnings to the third most important in 2016, data compiled from first half 2016 budget performance

puts oil revenue’s contribution to 42.6 per cent of total, the highest amongst all sources.

Indeed, all non-oil revenue sources ran below projected run rates in the first half of 2016. Income from corporate income tax (CIT) was 62.7 per cent less than expected while independent revenue was only 14.2 per cent of projections for half year.

“Thus, the FGN has largely relied on deficit financing to balance its books, with fiscal deficit as at first half of 2016 reported at N1.5trillion (66.6% of total approved for FY:2016), implying a fiscal deficit to GDP ratio of 3.2 per cent compared to 2.1 per cent legislated and three per cent ceiling for a full fiscal year.

Of N1.5 trillion deficit raised, only N159.1bn was released to cash-back capital projects in the period.

Continued on page 24

MTN Yet to Formally Apply for Listing on NSE Goddy Egene

CAPITAL MARKET

Capital market apex regulator, Securities and Exchange Commission (SEC) and self-regulatory organisation, Nigerian Stock Exchange (NSE) are still waiting for the formal application from MTN Group in respect of its planned listing on the NSE. The Africa’s biggest mobilephone operator had agreed to list its shares in Nigeria as part of a deal to pay a N330 billion ($1 billion) fine in cash to the Nigerian government for

missing a deadline to disconnect unregistered subscribers.

Preparatory to the listing, MTN appointed Stanbic IBTC Capital Limited (together with its affiliates, The Standard Bank of South Africa Limited and Standard Advisory London Limited) and Citigroup Global Markets Limited as its Joint Transaction Advisors and Joint Global Coordinators with Stanbic acting as Lead Issuing House.

However, THISDAY checks

showed that MTN is yet to formally apply to the regulators for the listing of its shares.

“We are yet to receive a formal application but I believe it will come soon. Do not forget, it takes a long process. I am sure they will send the application at the appropriate time,” a source at SEC said.

While the regulators are still waiting to receive the formal application from MTN, local stockbrokers have started lobby to be part of the offer so as to earn some income.

Market sources had said

brokers that have a close working relationship with the Stanbic Capital and Citi Bank in Nigeria were already exploring that relationship to be part of the deal.

“If it eventually comes, the MTN listing will be major deal in the market. Considering that fact that the market has been without initial public offering for a long time, this is an opportunity no one would want to miss. I can tell you that many operators are working Continued on page 24

Finance and capital market operators will on Thursday October 20, in Abuja mark the first anniversary of the death of late Chief Dennis Onyemachi Odife, who died on Saturday 3rd October 2015.

In a released issued by Chairman of the Anniversary Publicity subCommittee, Dr. Obinna Nwachukwu, the ceremony will commence withamemorialchurchserviceattheCatholicChurchofAssumption, Asokoro Abuja at 10.am to be followed thereafter by the official presentation and launch of Odife’s Biography titled: “Without Money and Without Price.” This will follow by “Dennis Odife Annual Public Lecture on Capital Market Development” to be delivered by Mr. Lekan Fadina, a respected stockbroker.

Untilhisdeath,OdifewasChairman,CentrepointInvestmentsLimited (a stock-broking firm), Samsen Trust Plc, Ezenwegbu Foundation, and Director, John Holt Plc, among other board positions.

Odife played key roles in the nation’s banking and capital markets.

Odife served federal government in various capacities. He was ChairmanofthepresidentialpanelonMonetisationofFringeBenefits for Public Servants, Chairman Presidential Panel on Capital Market Reform, Vice-Chairman, Steering Committee on the establishment of Abuja Stock Exchange ( now Abuja Commodities Market) as well as Chairman, Presidential study group on public-private sector infrastructure financing in Nigeria .

Transcorp Hilton Abuja Wins Award

Transcorp Hilton Abuja said it received the Signum Virtutis (Seal of Excellence) in the Hotels and Resorts Category of the 2016 Seven Stars Global Luxury Hospitality and Lifestyle awards.

The award Gala ceremony took place in Marbella, Spain recently.

According to a statement, an elite panel of luxury lifestyle experts selected nominees and eventual winners of the Seven Stars Luxury Hospitality and Lifestyle Awards with voting open to the public.

Transcorp Hilton Abuja was the only Nigerian hotel ever voted to receive this prestigious award, the statement added.

Receiving the Award on behalf of the Hotel, the Managing Director/ Chief Executive Officer, Transcorp Hotels, Valentine Ozigbo said: “To again be recognised as a luxury hospitality leader by a global award body is truly an acknowledgement ofTranscorp Hilton Abuja’s commitment to the delivery of world-class luxury hospitality. With the on-going upgrades to the Hotel and innovative service initiatives well underway, we look forward to celebrating more milestones and achievements as we continue to strive for the ultimate guest experience in every aspect of our service offering.”

Further commenting on the award, the General Manager,Transcorp Hilton Abuja, Etienne Gailliez said “We are proud to be honoured with such a prestigious award as it further reinforces the status of our Hotel as a leading provider of luxury hospitality experience in the region.”

At the ceremony, Ozigbo was honoured as the Seven Stars CEO of the Year for his leadership and transformative works that have raised the hotel as the no 1 luxury hospitality brand in Nigeria and top business hotel in Africa.

LCCI Holds Dialogue on Port Efficiency

TheLagosChamberofCommerceandIndustry(LCCI)incollaboration withtheFinancialDerivativesCompanyLimited,arenownedeconomic consultancy firm, is set to hold a public-private dialogue on port efficiency and maritime sector roadmap in Nigeria.

The objective was to design a roadmap for the transformation of the Nigerian maritime sector towards port efficiency and trade facilitation across borders.

The stakeholders’ forum, which is billed to hold in Lagos this Friday, is expected to bring together key government agencies major players at the Nigerian ports, importers, exporters and other stakeholders to discuss the current state of the ports and proffer solutions to myriads of problems militating against the growth and development of the sector and improve ease of doing business.

AccordingtotheLCCIMaritimePortsResearchconductedinthethird quarter of 2016 “The efficiency of port operation is a major driver of trade and economic activities across countries. Unfortunately, over the years, users and operators at the Nigerian Ports have been facing lingering challenges and bottlenecks.”

“The fact that the country has NPLs at a period like this should be expected and is not a thing that any jurisdiction should be demonised about.”

Director, Banking Supervision, CBN, Tokunbo Martins

24

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

BUSINESSWORLD FG URGED TO IMPROVE EFFICIENCY IN PUBLIC SECTOR “We largely expect revenue to improve in H2:2016 - as observed from FAAC allocations in Q3:2016 – due to translation of oil earnings at lower exchange rate, but still expect fiscal deficit (as percentage of GDP) at year end to exceed 2016 target by a minimum of 0.7 per cent,” the report added.

Nevertheless, last week, the FGN submitted the MTEF and Fiscal Strategy Paper for 2017 – 2019 to the National Assembly with ambitious expenditure targets.

The MTEF provided the framework for the 2017 budget and illuminated the expenditure outlook and revenue expectations for the period.

Aggregate expenditure in the proposed 2017 budget was projected to surpass the N6.1trillion in the 2016 budget by 13.3 per cent (circa N805.9bn) to N6.9 trillion in line with objectives to reflate the economy.

MTN YET TO FORMALLY APPLY FOR LISTING ON NSE out strategies to be part of the offer,” a senior stockbroker had told THISDAY last month.

The broker explained that “as you are aware, MTN has said a full syndicate including Nigerian parties will be appointed in due and this is the time for whoever that wants to be part of the that local team to work for it.”

MTN is targeting 2017 to list its shares on the NSE, it was pleased to announce that its Board of Directors has resolved to proceed with preparations for a listing of MTN Nigeria on the NSE as soon as commercially and legally possible and has established a management task team with the responsibility to guide the company towards a listing.

It added that Stanbic IBTC Capital, the Nigerian arm of Johannesburg-based Standard Bank, will be the lead issuing house, while a full syndicate including Nigerian parties will be appointed in due course.

NEWS

FX Gains Will Boost Banks’ Earnings, Say Analysts Goddy Egene

earnings season kicked off with UBA last week.

“The bank reported results that were generally encouraging, especially given the challenging macroeconomic backdrop. Pre-tax profits grew 16 per cent to N21 billion and puts the bank on track to meeting market expectations of a full year pretax profit of

at least N75 billion, equivalent to a y/y growth of 10 per cent.

We expect other tier 1 banks to follow UBA over the coming weeks. Their results are likely to show similar trends and in some cases better-than-expected results on the back of fx-related gains,” they said.

UBA had said that though partly driven by the depreciation

in the value of the naira, it also recorded a significant 21 per cent year-to-date growth in deposits to N2.496 trillion and a similar 26 per cent growth in total assets to N3.478 trillion.

Commenting on the results the Group Managing Director/ CEO of UBA, Mr. Kennedy Uzoka, said: “I am pleased with our performance in the

first nine months of the year.

Notwithstanding the negative economic growth in Nigeria, we maintained growth in earnings and sustained our asset quality. Increasingly, we are leveraging our unique pan-African platform to drive new customer acquisition and grow market share across our African subsidiaries.”

As more banks prepare to release their nine months results, financial analysts at FBN Quest have said many of them will record improved performance expected from forex (FX) related gains.

United Bank for Africa Plc last week became the first bank to release its nine months results, posting a growth of 7.3 per cent in profit before tax of N61.5 billion.

The analysts said second quarter (Q2) results showed that banks were able to capitalise on the naira’s weakness by being net long dollars (within regulatory limits), and book significant fx-related gains as a result.

“For our universe of banks, on average, fx-related gains accounted for at least 40 per cent of their half year (H1) 2016 pretax profits,” they said.

FBN Quest explained in Q2 the naira depreciated by 30 per cent while in Q3, it fell further by 11 per cent.

“All else being equal, it follows that banks are likely to report additional fx-related gains.

On its Q2 2016 result conference call, GT Bank indicated that as at then (end-August), the additional fx gains the bank was sitting on was N40bn. For the tier 1 banks in particular, even if they have to book additional provisions due to loans going bad, the fx gains are likely to dwarf the impact of the former,” the analysts said.

L-R: Group Chief Human Resources Officer, Airtel Africa, Roy Masamba; Director, Corporate Communication and CSR, Airtel Nigeria, They noted that Q3 2016 Emeka Oparah; MD/CEO, Financial Derivatives Company Limited, Bismarck Rewane and Managing Director and Chief Executive Officer,

CAPACITY BUILDING

Airtel Nigeria, Segun Ogunsanya, at the 5th Employee Knowledge Series at Airtel Headquarters, Banana Island, Lagos...recently

‘N6 Billion Pension Contributions Still With PFAs’ Laleye Dipo in Minna About N6billion contributed by over 6000 retirees in the public service of Niger state has not been disbursed to the pensioners as the money is still with the various Pension Fund Administrators, Speaker of the Niger State House of assembly, Ahmed Marafa has disclosed.

Marafa, who made the disclosure when he received

officials of the Association of New Pensioners in his office on Monday, also defended why the state governor Alhaji Abubakar Sani Bello has not assented to the pension law amendment bill passed by the legislators six months ago.

The speaker said “ there are noticeable problems in the bill which if not removed will cause more problems for the retirees”.

Among the noticeable

problems according to the Speaker was the amount payable to old and new pensioners.

Marafa said he had negotiation with the governor on the way out and it was resolved that the assembly should organise a stakeholders meeting to address the discrepancies in the bill.

“We are going to harmonise all the pension matters in this state after the stakeholders

meeting”, he said.

He submitted that apart from the N6billion with the PFAs, the government released N2.1billion for the payment of pensioners in the old pension scheme.

Earlier, the chairman of the Association Alhaji Usman K Yahaya had pleaded with the Speaker to assist numerous Pensioners under the new pension scheme to get their entitlement.

Yahaya said many of his members have died of hunger and starvation as a result of lack of money, while others had become beggars and debtors while trying to survive with their families.

He therefore advised the Speaker to direct the pension board to “work out the backlog of our pension arrears and resume payment of monthly pension to our member.”

NCC Arrests Six, Confiscates Hundreds of SIM Cards in Kano Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

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

Ibrahim Shuaibu in Kano The Nigeria Communications Commission, (NCC), on Monday arrested six men in Kano for being in possession and sale of hundreds of pre-registered SIM cards, which had been banned by the agency since 2O11.

The suspects were arrested during two separate raids carried out by the NCC operation unit backed by security operatives in the GSM village located at the popular GSM market in farm centre and the Yankura market in the metropolis.

The Head of the NCC operation unit Mallam Salisu Abdul said the operation became imperative follow-

ing the rampant sales of pre-registered SIM cards in Kano by unregistered individuals.

Salisu said, the sale of pre-registered Sim cards is a criminal offence and the commission will continue to raid markets across the country to stem such nefarious activities.

He blamed the various agents of service providers who sell or give in large quantity of such pre registred SIM cards to individual to unsuspected prospective buyers without proper registration.

He noted that Kidnapping and other criminal activities are usually carried out with these pre-registered

SIMs because there is no proper control by those agents who gave them out in large quantity to these unlicensed individuals for sale to innocent people.

According to him, the six suspects arrested would be handed over to the police for proper investigation and eventual prosecution as well as for authentication of the sources of the SIM cards, He added that similar operations were being carried out in Lagos, Abuja, Minna, stressing that the raid is a continuous one.

“Today, we have carried out a raid, at the end of which we arrested six suspects in connection with the sale of pre-registered SIM card. It is

a criminal offence to sell preregistered SIM card. The NCC had issued a directive since 2011 that all SIM cards must be personally registered.”

He added: “Our mission is to find out how the dealers were able to procure the preregistered SIM cards. NCC had earlier issued a directive because when you register a SIM card and fail to carry out any activity with the SIM card within 48 hours that SIM card should be reverted to inactive but if you buy and register, that is proper registration. However, if you buy and register and decided not to make a call or conduct data activity with the SIM card, that SIM card should be reverted as inactive by

the operator.

“However, we don’t really know how they do it. Probably, they are breaking the SIM card, put them in their phone, make calls and return back to, indeed, I do not know how they do it. That is the essence of the exercise.

So far, we have recovered more 100 SIM cards.

“We have bought one from each of the suspects, we have tested and confirmed that those SIM cards are active and they are contrary to our regulation. Meanwhile, the police would go ahead and investigate in respect of the remaining SIM cards we have recovered to establish whether they are fully registered or not.”

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

25

BUSINESSWORLD

EQUITIES WATCH

Forte Oil Contends with High Financing Costs A major jump in financing costs led to a decline in the bottom-line of Forte Oil for the nine months ending September 30, 2016, writes Goddy Egene The earnings season is here again when companies declare their corporate results. This time around quoted companies are turning their nine months performance to September 30, 2016. Given the fact the operating environment has been characterised by high inflation, forex exchange challenges, companies are expected to turn in poor results. However, some of the results that have been announced showed high level of resilience on the part of the companies.

Some have recorded improved profitability.

Integrated energy firm, Forte Oil Plc is among the early filers of their nine months corporate performance.

Although the company recorded improvement in its topline, bottom-line was impacted by an unprecedented jump in cost of finance, a development that led to a decline of 34.7 per cent in profit after tax (PAT) in 2016.

Corporate background Forte Oil Plc was incorporated on December 11, 1964 as British Petroleum Nigeria Limited.

After 14 years in operation, the company changed its status from a private limited liability company to a public liability company. In 1977, 40% of the company’s shares were sold to Nigerians in compliance with the provisions of the Nigerian Enterprises Promotion Decree of 1977. A year later 60 per cent was acquired by the Federal Government of Nigeria in favour of the Nigerian National Petroleum Corporation (NNPC). In November 1979 the name British Petroleum was changed to African Petroleum Plc. NNPC’s stake in AP was reduced by 20 per cent in March 1989 after the Federal Government sold the above percentage to Nigerian Citizens, increasing their stake from 40 per cent to 60 per Forte petrol station cent. In the year 2000, the federal government under its privatisation programme divested its remaining 40 per cent to core investors and FORTE OIL PLC NINE MONTHS FINANCIAL SUMMARY interested Nigerians.

In May 2007, the shareholding structure200 2016 took a new shape as Incorporated Trustees of150 SEPT. N121bn NNPC’s Pension Fund divested its stake to Zenon Petroleum & Gas Limited, making it100 SEPT. 2015 N92bn the majority shareholder in the company. As 95 a result, Zenon Petroleum & Gas Limited and 90 his affiliated entities became the core investor in the company. Under the new management, 85 African Petroleum embarked on a rebranding 80 and restructuring programme which led to a 75 name change to Forte Oil Plc in December, 70 2010.

Forte Oil Plc markets refined petroleum 65 products for automobiles and machines. It 60 operates various services including retail petroleum product marketing; industrial fuels 55 & lubricants marketing, lubricant production 50 and marketing; vendor managed inventory 45 for industries; value added peddling; marine supplies; production chemicals, lubricants and 40 greases among others.

35 30 An impressive beginning Forte Oil raised investors’ hope of an improved 25 full year performance when it recorded a growth 20 of 31 per cent in profit before tax (PBT) for the half year ended June 30, 2016. Forte Oil 15 had reported a revenue of N84.475 billion for 10 the half year ended June 30, 2016, showing an increase of 38 per cent, from N61.168 billion 05 in the corresponding period of 2015. Profit 0 before tax (PBT) rose by 31 per cent from N3.255 billion to N4.250 billion in 2016.

The Group Chief Executive Officer of Forte Oil Plc, Mr. Akin Akinfemiwa, had attributed the impressive half-year performance of the company to aggressive sale drive, strategic retail acquisition, and prudent approach to cost containment.

According to him, revenue grew as a result of ongoing strategic retail acquisitions across the country, increase in pump price of premium motor spirit and increased commercial customer base for both fuels and lubricants.

He explained that 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.

“PBT rose 31 per cent to N4.25 billion in H1, 2016 compared to N2.53 billion in the

SEPT. 2016 N15.5bn

SEPT. 2015 N19.4bn SEPT. 2016 N5.6bn SEPT. 2015 N5.3bn SEPT. 2016 SEPT. 2015 SEPT. 2016 N4.3bn N2.2bn SEPT. 2015 N2.8bn N0.3bn

GROSS REVENUE

GROSS PROFIT

NET FINANCE COST PROFIT BEFORE TAX PROFIT AFTER TAX

same period in H1 2015 largely due to our prudent approach to cost containment. Forte Oil’s total assets increased by 12 per cent from N121.8 billion to N136 billion driven by over N10 billion paid so far for the major overhaul exercise at Forte Oil’s 414MW Geregu power plant aimed at optimising and increasing its generation capacity from 414MW to 435MW. This business segment of Forte Oil Plc remains our key growth driver,” he said.

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 ongoing 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, 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.

“Also in the second half of 2016, we shall focus on increased supply of petroleum products imports as full deregulation kicks in and forex availability increases,” Akinfemiwa said.

High cost of finance stunts growth While investors had expected that Forte Oil would maintain a steady growth for the nine months, considering its H1 results, the company last week recorded a decline of 34.7

per cent in PAT. Although the company’s top lines showed growths, higher cost of finance and tax expenses compressed the bottom-line.

Forte Oil Plc recorded a gross revenue of N121.1 billion in 2016, showing an increase of 32.2 per cent from N91.6 billion in 2015.

An analysis of the revenue showed that fuels accounted for N103 billion,, up from N76.2 billion in 2015. Lubricants and greases recorded N8.188 billion, compared with N5.161 billion in 2015, while power accounted for N7.931 billion as against N7.02 billion in 2015.

Cost of sale rose by 34.3 per cent from N78.6 billion to N105 billion, while profit before tax (PBT) stood at N15.5 billion, showing an increase of 19.4 per cent.

The company was able to keep operating expenses flat at N9.9 billion, against N10 billion in 2015. While other income fell by 13.9 per cent from N2.7 billion to N2.3 billion, net finance cost soared by 663 per cent to N2.2 billion. Consequently, the company ended the nine months with profit before tax (PBT) of N5.6 billion, from N5.3 billion in 2015.

However, tax expenses rose by 182.6 per cent from N1.0 billion to N2.8 billion, hence PAT fell to N2.8 billion, down from N4.3 billion.

A further analysis of the finance cost showed that while the company paid N3.506 billion on loans and overdraft, which was a 3.3 per cent, above the N3.396 billion in 2015, a drastic reduction in other interest income led to the higher cost of finance in 2016.

Total finance income in 2015 was N3.103 billion, it fell to N1.275 billion. In 2015, the higher finance income got a boost from N2.8 billion interest income on petroleum subsidy. However, in 2016, there was no such income and given the N3.509 billion interest on loans and overdraft, the PAT was neutralised.

At the end of September, Forte Oil Plc has loans and borrowings of N44.1 billion, compared to N27.7 billion in the corresponding period of 2015.

The borrowings comprise short term loans of N24 billion to finance letters of credit for petroleum products importation. There is also long term borrowing of N18 billion to fund the acquisition of Geregu Power Plant by Forte Oil through its subsidiary Amperion Power Distribution Company Limited. The high debt has increased Forte Oil’s net debt to equity has increased to 78.7 per cent, from 56.7 per cent.

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

26

BUSINESSWORLD

INTERVIEW

Lawson: Digital Financial Services Will Enhance MSMEs’ Activities

The chief executive of the Enhancing Financial Innovation & Access, Mrs. Chidinma Lawanson, in this interview with Obinna Chima speaks on how micro, medium and small-scale enterprises can leverage on digital financial services to grow their businesses. Excerpts

How will you describe Nigeria’s journey towards becoming a digital economy?

Well, I will like to focus on the financial inclusion aspect of it because there are digital services that you can utilise in different ways - in the health sector, education, etc. but we are focused on the financial services industry. And the main thing is that in Nigeria, the deployment of digital financial services (DFS) in meeting up the goal of ensuring that people are financially included, I would say have been successful. Those financial services operators, deposit money banks, microfinance banks, mobile money operators, found out that since technology, especially in the form of holding phones by individuals across the nation has spread widely and they are many Nigerians that own phone. If the operators can piggyback on those phones and make it possible for any individual, where he or she is to access financial services on his phone, then the footprint would have gone a lot. Some operators understand it and they have made large footprints in that area. Some others are beginning to understand it. That is the way to go because you can’t reach the entire adult population in Nigeria to touch financial services on a physical model. It is expensive to set up branches in rural areas. There is also rural telephony. If you piggyback on rural telephony services, then there would be more people that would touch financial services and it would have a positive contribution to the Gross Domestic Product (GDP) of the economy. So, I would say positive somewhat, a long way to go, but it is the way to go.

So, what do you think are the benefits of DFS to Nigeria?

First of all, from EFINA’s access to financial services in Nigeria survey of 2014, of the adult population of over 90 million, 36.9 million are financially excluded. That means a lot of funds are outside the system that we call financial services.

And for a lot of those who are low income people, if they do not touch financial services, they will continue in a cycle of shock and poverty. They may not have savings mechanism and monies might be under the pillow that might be stolen or they get lost. There is no information about them within the financial services industry. So, they can’t even get access to micro credit, because it is when you have information that you can give loans to the person. So, if we use digital financial services method to bring them into the financial services industry, through micro savings, micro insurance, etc, you will have their information and funds. Then, there would be sufficient funds to lend out to other stakeholders who run micro, small and medium scale enterprises (MSMEs). Think of where those MSMEs have those funds in terms of loans, they can create more employment, manufacture more goods and have a lot that would make them compete and the economy would have more products in the non-oil sector. All those activities add to the GDP of the country. So, obviously, DFS matters a lot in reaching previously unbanked people, bring them into the ecosystem and assist them to reduce the shocks in their lives, make more funds available to the economic system and build more activities around the MSME sector.

So what role has EFInA played in supporting small businesses through DFS? For EFInA, we are funded by the Department for International Development (DFID) of the United Kingdom government and the Bill & Melinda Gates Foundation. First of all, we hold four pillars which we focus on. This include research - once e very two years, we carry out EFInA Access to Financial Services in Nigeria survey which goes round the country and gathers more than 24 thousand respondents to talk financial services.

With that information, the regulators use that data

Lawson

to set up policies, financial services operators use that to see where they can locate low income products. For example, they see how the people in Kano behave, how the young demography, may be 18 to 23 years, what they are thinking about, mobile money and even insurance. With that, they can detail products for that sector.

That is for research. Secondly, we also give out innovation funds to the financial services operators - banks, microfinance banks, mobile money operators, to ensure that they role out products for low income people. And MSMEs fall into these low income category. So, when we have given funds to financial services operators, the impact we are looking for is that those operators would turn around and create products, they could be lending products, they could be savings products, to these low income groups, which includes MSMEs. We also do capacity building on these same operators. Recently, in July we brought in well known consultants from outside the country to teach about 28 microfinance banks how to use DFS to reach their customers. That was fully funded by EFInA. So, we did that to ensure that when those people are trained, they would find products that suit MSMEs because we have enhanced their capacity to think of how to use DFS to deploy their products. Fourthly, we also do advocacy. We work with regulators and policy makers to ensure that regulations surrounding the financial services sector do not have adverse effect on low income earners.

Whenever we say low income groups, you have the individuals, the mum and pop shops and the MSMEs. So, being an enabler for the financial services sector, the impact we have seen would be for the small scale holders. So, that is how

EFInA has affected them positively. We don’t deal with them directly, but we deal with the providers who now deal with them, and we measure that impact.

The grants you give to organisations, how do you monitor to ensure that they are always utilised for the purpose(s) they were given out for?

In fact, when our guarantees who are operators get the grants, they find out that it is really the footsteps they take along with EFInA that assists them, more than the actual monies. First, we do quarterly disbursements. Remember, that those guarantees also bring their own counterpart funding. So, they don’t just throw out a project that is only funded by EFInA. So, we co-fund it and we have key performance indices at the beginning of the grants. For example, you want to impact 24,000 women in the northern parts of the country, you want to ensure that you have a particular number of agents, we support you.

This is because if you are able to have agents to touch financial services, it means individuals wherever they are don’t have to enter a bank branch. They can go to agents of the bank to do their transactions. We must agree with the key performance indices and what we measure is those you have impacted. So, every quarter we get the reports from the guarantees, we look at reports with them and we do site visits to check what the impact is. At the end of that project, we bring in external consultants to carry out total impact assessment. So, if you say you have impacted 12,000 Nigerians who are low income groups in a certain state, we would go in and use our methodology to carry out independent

assessments of what they have done. And since 2009 that those impact assessments have been done, we have not found that they were different from what the guarantees submitted. So, it has actually met the targets that we envisioned. So, we don’t just throw out the money because it is non- returnable grants that is why we ensure that they are utilised for what they were given out for In terms of reforms, what are those things you would like to see the regulators do to promote DFS in the country?

The good thing is that the regulator, mainly for the financial services sector bring the Central Bank of Nigeria is very open to discussion. There is a lot of good relationship between the regulator and the financial services operators. We have initiated meetings where both sides talk to each other in that ecosyst on how to understand each other better, in other to move regulation forward.

If there regulations that are adversely affecting the promotion of DFS, we make sure that the operators come back with those feedback to the regulators so that both sides understand. The danger in digital financial services is electronic fraud. So, that is always the head ache of the regulator. But the inregulator is aware that if they tighten the conditions, then nobody may want to touch DFS. So, both sides are working hard to ensure they achieve a balance. So, the regulators are trying. We really need to commend them. So, the reforms are happening across the divide and the regulators are also saying that the providers always ensure that their systems are properly structured not to allow electronic fraud so that their customers don’t lose money.

27

WEDNESDAY,OCTOBER 19, 2016, ˾ T H I S D AY

BUSINESSWORLD

ANALYSIS

Guarding against Credit Risk There is need for increased vigilance by the banking sector regulator to guard against credit risk in the industry, writes Obinna Chima There have been concerns that the prolonged drop in oil prices may have a knock-on effect on the banking industry and requires more vigilance by regulators.

The increase in banking sector non performing loans (NPLs) to 11 per cent, far above the five per cent threshold that was set by the regulator has also been the focus of industry analysts in recent times.

Crude oil price has declined by about 50per cent between mid-2014 and mid-2016 to about $50 per barrel presently, thereby leading to significant losses in export earnings for Nigeria and other commodity exporters.

This has seriously affected purchasing power in the country as individuals and firms find it difficult to honour their obligations with banks.

However, with forecasts of uncertainties and risks in the global economy, the recent results from the three world’s biggest banks which showed decline in earnings in their third quarter results raises fresh concerns of spill over effects on Nigerian banks.

Citigroup last week reported that its net income fell by 9.5 per cent to $3.8 billion, from $4.2 billion the same quarter a year ago.

Its revenues were also down 3.8 per cent to $17.8 billion during the July-September period, from $18.5 billion the same period last year. After the release of the results, shares of Citigroup fell 2.4 percent to $48.39 after opening Friday at $48.60 on the U.S. stock market.

Similarly, JP Morgan Chase’s net income fell 7.3 percent to $6.3 billion. That’s was down from $6.8 billion. Its revenues, however, rose 8.5 percent to $25.5 billion after posting $23.5 billion in the third quarter of 2015.

Shares of the bank fell 2.2 percent to $67.30 after they began the day at $68.80. Stirred with illegal banking activities, Wells Fargo’s earnings were highly anticipated.

The bank said last Friday that its net income fell 3.4 percent to $5.6 billion in third quarter of 2016, from $5.8 billion during the same period a year ago. Revenues were up 1.8 percent to $22.3 billion from $21.9 billion.

After opening at $45.17, shares of Wells Fargo fell 1.8 percent to $44.33.

But the Chief Executive Officer of the Financial Derivatives Company Limited, Mr. Bismarck Rewane, pointed out that the afformetioned three global banks are strong decline the reduction in their earnings.

“The banks are solid. They all passed the stress test. They did stress test in Europe and the United States and they all passed.

So, both on a credit rating basis and capital adequacy basis, the banks are sound and solid,” he explained.

He dismissed the insinuation of a likely contagion effect, saying they total size of Nigerian banking system is insignificant Nonetheless, adverse commodity price shocks, according to the International Monetary Fund (IMF) can also contribute to financial fragility through various channels. Firstly, a decline in commodity prices in commodity-dependent countries results in reduced export income, which could adversely impact economic activity and agents’ (including governments) ability to meet their debt obligations, thereby potentially weakening banks’ balance sheets. Secondly, a surge in bank withdrawals following a drop in commodity prices may significantly reduce banks’ liquidity and potentially lead to a liquidity mismatch.

Financial fragility can be defined as the increased likelihood of a systemic failure in the financial system, for which the most obvious indicator would be a systemic banking crisis.

Last year, the regulator gave three commercial banks until June 2016 to recapitalise after they failed to hit a minimum capital adequacy ratio of 15per cent.

CBN’s Assurance But the Central Bank of Nigeria (CBN)

CBN building

Governor, Mr. Godwin Emefiele pointed out that a recent reports of the World Economic Outlook showed weakness in the global economy “When you have situation where there is a weak global outlook as we have now, practically all financial market suffer same kind of issues such as weakening of balance sheets and the rest of them.

“But I must say that for the Nigerian banking environment, it is not as bad as people may think, given that we have strong prudential guidelines and ratios in place. I think we can only continue to strengthen the banks by putting in place strong prudential regulations that would continue to shield the banks and protect depositors,” the CBN governor said.

The CBN also allayed concerns over the soundness of Nigerian banks, assuring the public that they are sound and have strong capital buffers.

However, the Director, Banking Supervision, CBN, Mrs. Tokunbo Martins, admitted that just like in other oil and commodity-dependent economies, banks in the country were also feeling the headwinds in the economy.

She added: “That is not to say that the banking sector is not feeling the economic headwinds, they are. Just like every other jurisdiction. It is not strange. NPLs at 11 per cent is not what we need to focus on. What we need to focus on is if the banks have the capacity to absorb losses that may arise from those NPLs? And the answer is yes. They have very strong capital buffers.

“Another thing that is important is that Nigerian banks have very huge capacity to generate income to also absorb those losses, if they do arise. And then the loans that are non-performing, can they re-perform? Yes they will because the underlying assets are

still there and they are good.

“The fact that the country has NPLs at a period like this should be expected and is not a thing that any jurisdiction should be demonised about.

“Other jurisdictions going through what we are also going through are experiencing the same thing. There are countries that have NPLs as high as 15 per cent, some 30 per cent, and some countries in Europe have NPLs as high as 80 per cent.”

Risk of Downgrade Despite the assurance from the central bank, Fitch, an international ratings agency, acknowledged that banks in the country had experienced a sharp rise in NPLs, adding that other key concerns in the banking industry include forex scarcity, weakening capital adequacy ratios, and the sovereign’s ability to support banks, given its weaker financial flexibility.

“If current challenges do not ease, the banks could face further downgrades,” Fitch said.

Fitch Ratings also warned of downgrades if NPLs continued to deteriorate.

Worsening NPL trends in the sector have accelerated since the end of 2015. Fitch expects this to continue because operating conditions remain difficult.

The CBN’s latest financial stability report released this week showed that the sector’s NPLs rose to 11.7 per cent of gross loans as of June ending 2016 from 5.3 per cent at the end of 2015. This exceeded Fitch’s start-of-year expectations of a 10 per cent NPL ratio by the end of 2016.

But NPLs are not evenly spread among banks and sector NPL ratios are distorted by some exceptionally high concentrations. For example, First Bank of Nigeria, the country’s

largest bank, reported a 23 per cent NPL ratio at end-June 2016.

“If current challenges do not ease, the banks could face further downgrades. Our discussions with banks indicate that most impairment is concentrated in the private sector, which is affected by foreign currency shortages and the depreciation of the naira.

“Borrowers are struggling to access scarce FC and those dependent on naira income are finding it hard to meet escalating repayment costs triggered by the depreciation.

“Sector NPLs would have been higher if banks had not undertaken widespread restructuring of loans to the oil and gas sector, which accounts for 30 per cent of total sector loans,” Fitch added.

On his part, a former CBN Governor, Prof.

Charles Chukwuma Soludo has called on the CBN as well as other central bankers across the globe to start taking preemptive, proactive contingency planning, in anticipation of the next global crisis, which according to him might happen in few years’ time.

According to him, there is a whole lot of uncertainty and risks everywhere, saying that it would take one major crisis in one country and it will snowball into another global crisis.

He argued that there was an uptick in the level of uncertainties in the global economy, saying that the world was yet to get over the 2008-2009 global financial crisis.

He pointed out that there was still tepid growth in Europe and America, as well as concerns over China.

Soludo stressed that the key thing for central banks and policy makers over the world to be concerned about ought to be the state of affairs of the global economy and the financial system.

28

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

BUSINESSWORLD

INTERVIEW

Mbata: We’re Prudent in Managing the State’s Resources Hon. Obinna Mbata is the Imo State Commissioner for Finance. In this interview with AmbyUneze,MbatawhoisalsotheformerCommissioner,MinistryofInternalResources and Pension Affairs, spoke on the management of the state’s resources. Excerpts: You are barely nine months in office as Finance Commissioner, what are the prospects and challenges of your office?

Broadly speaking, I will say it’s been interesting and has its own challenges at the same time since January 14, 2016 when I was sworn in. It’s being engaging because it’s a hands-on work since it relates to finance. In terms of challenges and expectations, every Nigerian presently understands the difficulties that we all are facing as a nation especially in the areas of our finances due to the obvious down-turn in the economy. We are currently in recession and this has been occasioned by a huge drop in revenue generation especially from what we get from the sale of fossil fuel in Nigeria from which we derive our major source of foreign revenue. This development has impacted negatively on the economy and together with the attacks and destructions of oil facilities, pipelines, flow stations in the Niger Delta area which has had the concomitant effect that while we are grappling with fall in the price of crude oil in the international oil market, we are also grappling with the challenge of drop in the production. We were in the past, doing roughly 2.2mbpd of crude oil, but in recent times about 1.4mbpd, so it is not rocket science to determine that these have actually impacted negatively on the finances of the country at large and on that of states in particular, Imo state being one of them.

Some of those early challenges that we faced in getting into 2016 arose from meeting the state’s obligation with respect to payment of salaries and pensions. Some obligations equally arose in outstanding benefits and all what not but afore mentioned were the very immediate ones. Putting into consideration that Imo state runs free education from primary to tertiary levels and it’s one of the cardinal objectives of this administration which we have executed very successfully too, we had to strike a balance in the revenue that we were getting which had dropped drastically. Over 60 percent in some instances in certain months and we had to devise a means of making sure that those obligations; payment of salaries, pensions which form part of our recurrent expenditure are all taken care of.

Sometime in January we had this industrial (strike) action that was embarked upon by Labour over payment of salaries and because of the fact that in Imo state we didn’t want to be caught in that web of being one of the states that owe salaries.

We entered into negotiation with NLC despite the one day strike action which we didn’t want to linger because the government was quite proactive in making sure that issues that were raised by Labour in respect to payment of salaries were seriously addressed.

I will also like to point out here that one of the things that led to that strike action was the government’s good intention and initiative to embark on concession of the management, not sale, of some of the critical establishments in the state, a lot of which are also revenue-generating.

The intention behind that which had succinctly been explained by the Governor at different fora, was to ensure efficiency in the running of such organizations, because it didn’t make sense that you had an establishment where you pumped funds into on a monthly basis and had the expectation of revenue being generated, but does not make returns or contributions by way of any revenue generation. We have people who supposedly go to work there on daily basis, but when you measure productivity you find out that it is nil, because the reason for which the agency was set up was not being met. The revenue targets that were given to the organizations were not being met and the state was still there funding such establishments. Then you have to ask yourself whether it makes any kind of economic sense.

Therefore to ensure efficiency in the running of some of these organisations, government decided to concession management of such establishments to be run very profitably. If I may give an example with what is presently happening in the country

developments will be left unfinished by the end of this administration.

Mbata

where the Federal Government has stated its intentions to concession the management of the Abuja International Airport, the Lagos International Airport, the Port Harcourt International Airport, the essence of it being to bring in efficiency into the running of those establishments.

The government in Imo state had this vision even before the federal government decided to embark on such a step of concession. That is the whole idea of the policy, but it was misunderstood in certain quarters. Some people were insinuating that government wanted to sell those establishments and as a result, people expressed fears that jobs will be lost and so on. But the government in her good intentions embarked on vigorous negotiation with Labour and at the end of it all government showed that it was not out to victimise anybody, but rather was out to have an efficient public service in the state, because our resources are very limited. To get it right, we have to be smart in the management of our resources. So in the course of the negotiation, the government showed its goodwill in meeting with the demand that was made by Labour that 70 percent of all the earnings made by the state on a monthly basis be to given to them for the payment of salaries and pensions. This was acceded to by the state government. I know that a lot of people raised eye brows wondering why the state would agree to such an agreement but we allowed it to show good faith.

How has government been managing the remaining 30 percent to be able to discharge her responsibilities?

Something people wonder is whether what we are doing in the state is magical, how we have been able to sustain our responsibilities up till this time. My colleagues in other states, when we attend meetings, ask me how we have been coping with the agreement (70:30) in the state.

The primary thing is that we have been able to ensure management of what we get out of the 30 percent through prudence and prioritisation in our spending. His Excellency would always tell you that you will have to cut your coat according to the size of the material that is available to you, not according to your own size. So, we understand on the average what we get and we try to prioritise our spending to make sure that those things that are considered very critical like education (continuous free education in the state) and the provision of certain infrastructure are put in place and so far we have tried very well to cut down on overheads.

Still people accuse us of being very stingy, but

we would rather be parsimonious and viable than be very happy with spending and then the state would not be able to meet up with some basic functions. I’ll say in a nutshell, that is what we have done. The government set the tone right from the swearing-in of the Commissioners this year when the Governor told us that that we have to also bear the economic challenges because we can’t be telling people to tighten their belts when you as government appointee are living like a king.

It started with us (the appointees), we all had a cut (pay cut). I was a Commissioner for Internal Resources and Pensions from October 2014 to June 2015, I know what it was like then compared to our remunerations as commissioners, presently, and same applied to all Special Advisers and Special Assistants. You will also realize that the number of Ministries in the state was cut down from 22 to 13 to cut cost, because if you have 22 ministries you will have 22 Commissioners and so on.

We have become more efficient because anything that is waste is cut off. We are very practical about the things we need to apply our resources to.

Remember there are quite a lot of interventions in the areas of agriculture and small businesses; and if you have to succeed in those you should have some level of liquidity to put into some of these interventions. Some we do through the Imo State Micro Finance Bank and some in partnership with the Federal government and international partners. The government has quite a number of responsibilities but we have ensured that we are smart and efficient in handling our spending.

What about the roads, infrastructure in the communities and other projects, how is government funding them?

With respect to infrastructure, we have presently embarked on uplifting infrastructure; roads especially, in the state capital because we want to make Owerri a cosmopolitan/mega city. In that respect, if you go around the city, you will see so many road projects going on simultaneously and we are one of the few states that you will still find infrastructural development, roads construction going on, in spite of the economic challenges facing the country. And this is because of the fact that we have been able to manage the resources well. His Excellency will always urge us to think outside the box by doing things in an unusual way in a positive form to achieve success. This is one of the critical areas we have put focus on; continuous improvement in the infrastructure of the state. The governor has sounded it clear that none of these infrastructure

You talked about the internally generated revenue of the state, how has it improved?

And recently the state government introduced the policy of N3000 adult tax levy. Is it justified?

Regarding our internally generated revenue, we have what we call Fiscal Sustainability Plan, which is in partnership with the federal government and most states of the federation have keyed into it, Imo inclusive. The whole essence of it is to make sure that we manage our resources very well, stick to certain fiscal responsibilities and reduce wastage and make improvements in certain areas, including our IGR. In that respect we had restructured the Board of Internal Revenue and appointed a new acting chairman all geared towards making sure that we turn around the state of our IGR. Before now we were generating about N400 million on monthly basis but since the restructuring, refocusing and re-engineering we are recording improvements in that respect. For a couple of months now, on the average we are recording about N650 to N700 million and our intention is that we will continuously improve on this monthly (bearing in mind our target of N2b monthly). Some of the strategies we had put in place to ensure that this comes to fruition is application of technology in revenue collection. So from the point of assessment to the point of collection, we are putting a whole lot of technology, removing human element from it to ensure that there is accountability. If we don’t have proper mechanism put in place, some of these funds that come in as taxes and other revenue would eventually not get into the coffers of the state government.

Again we are focusing on the informal sector such as the barbers, those who operate kiosks, small shops, etc. This sector is very huge, but the problem is developing a system to get accurate data on them. The essence is that we identify them, carry out enumeration, find out what they are generating from their businesses, then we will be able to do an evaluation. The major challenge in tax collection is information to the individual that is being taxed, to educate them on the reasons why they have to do it. Another avenue to improve revenue generation is the commencement of issuance and signing of Certificates of Occupancy (my colleague the Commissioner for Lands flagged this off a couple of days ago).

This means that people who had applied for Certificates of Occupancy for some years now have the opportunity get same and to do so with ease.

We want a system of issuance of certificates to be liberalized because we want people in the various villages to be able to apply for C of O on their village lands, so that it will be another way to unlock the dormant capital which had been lying in waste there. You can use your C of O to borrow money from banks to do or support your business.

Issuance of C of O is another area we expect, from our projections, to get huge revenue.

On the N3,000 per annum on taxable adults, this government wants to bring governance to the wards through what we call the State Development Councils (SDCs) in all the 305 electoral wards that we have in the state. The SDCs are manned by coordinators in each ward. When you have challenges in your ward, it is now the responsibility of the coordinator in that ward to ensure that the problem is brought to the fore so that the agencies or the ministries tasked with taking care of those issues would immediately come in to intervene.

Government activities would be brought even closer to the communities this way. Thus, the essence of N3000 per annum tax is to ensure inclusive participation; to make you party to the development of your area, your ward. The funds are pooled and domiciled in the ward for its development and nobody would come to take it away from there.

It is for your general development, and you can hold the SDC of your ward accountable.

29

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Stemming External Aggressors’ Take on Nigerian Banks Ibeayoka Emefu writes that contrary to a recent report by the Dubai-based Arqaam Capital, Nigerian banks, as confirmed by the CBN, are healthy and well capitalised

Emefiele

When the Honorable Minister of Finance, Mrs. Kemi Adeosun, in Washington during a discussion on the importance of addressing infrastructure gaps in developing countries at the World Bank accused the western powers of being a stumbling block to Nigeria’s plan to improve power output through the use of coal, many took the statement on its face value. Adeosun had insisted that improving power supply was the corner-stone of the current administration’s goal towards economic development, yet finds it difficult to get support from the western community.

When a deeper dive into the deconstruction of the weight of the conscious economic underdevelopment of Africa perpetrated by some external forces, with Nigeria fully caught in the web is x-rayed, only more pain would be felt in the game plan of the heartwrecking mastermind of some international conspirators. The weight of our challenges and the complexity of the consequential stress across sectors today, can hardly be resolved by mere UN talk-shops, World Bank meetings and other international economic summits, but concrete action, including fast release of Nigeria’s stolen funds given to our friends to hide in their banks.

When Walter Rodney in his book, How Europe Underdeveloped Africa, insisted that a combination of power politics and economic exploitation of Africa by Europeans led to the poor state of African political and economic development evident in the late 20th century, this did not go down well with their local agents, who pound their yams with sizeable sacks hanging underneath their robes.

The man, Rodney had determined that the only path to true human development and liberation for the majority of the people was through the transformation of their own lives in a struggle to replace and reshape the neo-colonialists government that dominated the society and prescribed their existence.

While we recall various predictions of how former President Goodluck Jonathan was said to be the last president of a united Nigeria,

Adeosun

and how Nigeria would surely disintegrate in the year 2015 by some western ‘prophets’ with former American Ambassador to Nigeria, Mr. John Campbell seemingly the most interesting, time has come for those of us actually wearing the shoes to know where the pain points are and when we actually have a headache.

Professor Adebowale Ibidapo Adefuye actually took on the former US envoy, John Campbell and called him, ‘a prophet of doom’.

Typical of our media ideologues, sensational and alarmist headlines and the hurry to break the scoop, Bloomberg, recently went to the market with a story on the under-capitalisation of some banks in Nigeria, with two declared almost insolvent. Only a few wise Nigerians, received that story with caution and a large dose of scepticism. This financial online platform, had given credit to two staff of Dubai’s Arqaam Capital Limited, Jaap Meijer and Tarek Sleiman, who were said to have emailed the report. For some public opinion analysts and indigenous financial experts, this came like an external examiner who did not see a student’s course curriculum, did not get involved in the lectures, did not supervise the examination, but chose to dabble in to challenge the scoring of the exam paper by the qualified teacher, who taught the subject. Central Bank of Nigeria (CBN), the regulator of the Nigerian financial services establishments got the shock of their life by the Dubai infiltration.

The apex bank quickly rose in defense of the country’s financial independence, speedily cross-checked records, files and the last submitted financial reports of these banks in its possession and had to embark on a series of meetings to dispel the threat and its overwhelming spill-over in the sector and among simple-minded Nigerians. The Central Bank of Nigeria (CBN), has firmly and unequivocally said that Nigerian banks have very strong capital buffers to weather the country’s economic crisis.

Director of Banking Supervision, CBN, Tokunbo Martins, said this at a press confer-

ence after a meeting with the heads of the country’s banks. She also assured that supply of foreign exchange for manufacturers would be improved.

She emphasised that Nigeria, which is Africa’s biggest economy, is in recession due to a slump in vital oil revenues which has put pressure on the public finances and the currency, driving up the prices of imported goods.

This timely clarification became necessary due to that report by a Dubai-based investment and brokerage firm, Arqaam Capital which indicated that seven Nigerian banks were undercapitalised to the tune of N1tn ($3.2bn) with two other banks approaching insolvency.

While an unconfirmed report still being investigated described the team from Aqaam Capital as financial undertakers who have their left eyes focused on our government’s body language towards the sale of some nation’s assets, it is also being speculated that they have pushed a button to grade the roads for their principals who have hidden interest incubated for some Nigerian collaborators. It is possible that their kite-fly against some Nigerian Banks, is a very suspicious move aimed at blocking some competition, should the federal government make-up its mind. The events of the last few days are actually bizarre.

The spokesman for First Bank, Mr. Babatunde Lasaki, said, “First Bank is not undercapitalised.

We are still within the industry regulatory threshold. This is their opinion. Our position has been published in our half-year report; it is not the one from an investment bank or a speculative reporter. Our Q3 report will soon be published.

First City Monument Bank (FCMB) has also confirmed that the Bank is fully capitalised and its current CAR (capital adequacy ratio), adequately meets the basic requirement of the Central Bank of Nigeria (CBN). Contrary to the claim of the Dubai firm, FCMB has actually expanded its operations this year by opening several new branches.

Also reacting, a spokesman for Diamond

Bank, Ikechukwu Mike Omeife, said, “Our bank is strong. Our capital-adequacy ratio and non-performing loans are within the statutory requirements.”

Matthew Obiazikwor, who is the Head of Corporate Communication at Unity Bank insisted that Unity Bank was still meeting its obligations, saying, “Our financial position has been enhanced. We have just moved our head office to Lagos in order to be closer to the market and retail market. All these strategic investment decisions have shored up market confidence in the bank.”

Similarly, a top official of Skye Bank, who spoke on condition of anonymity, said the bank was not close to being insolvent as alleged by Arqaam Capital. The source said the Central Bank of Nigeria had issued a statement, stating that the bank was not distressed.

To create a capital buffer, Sterling Bank is planning to issue a N27bn bond and “if the interest rate looks better, we will do it this year,” the Sterling Bank Chief Financial Officer, Abubakar Suleiman even told Bloomberg. While the Nigerian banks cannot be insulated from the tension of full implementation of the TSA policy, the slump in vital oil revenues which has put pressure on the public finances and the currency, driving up the prices of imported goods, the forex headaches and the global economic slow-down, it must be agreed that the yardstick for the measurement of their liquidity, capital base and the depth of Non-Performing Loans, and the rating of capacity to weather the storm amidst the enlisted realities, is designed and decided by the Central Bank of Nigeria (CBN), which has not suspended any Bank’s licence, and has assured us that all our banks are safe. Our external examiners, descendants of our colonial masters, must be watched really carefully. They cannot be crying more than the bereaved.

- Emefu, public opinion analyst, wrote from Jigawa

30

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

BUSINESSWORLD

INSURANCE

Unhealthy Competition among PFAs for Market Share

As the National Pension Commission prepares to give the green light for the commencement of the long awaited pension transfer window, Ebere Nwoji, in this report, examines the marketing intrigues employed by PFAs for a larger share of the pension market As contributors earnestly wait for the commencement of the pension transfer window that will enable them migrate from their present Pension Fund Administrators ( PFAs) to another, the PFAs are strategising on how to grab the largest share of both the existing and emerging markets and remain on top in the areas of asset size and number of contributors.

Indeed, with the prevailing signs of both offensive and defensive marketing tactics currently unfolding in the industry via various communication channels that include outdoor advertising, promotions, radio and television commercials, social media, sales activities, and other visibility campaign strategies employed by the operators, there are palpable fears that when the transfer window takes off, the industry will be left with few giant operators while many will fall by the way side.

Although Section 11(2) of the Pension Reform Act 2004 amended in2014, provides that the employee may not more than once in a year; transfer his retirement savings account(RSA) from one PFA to another ,without adducing any reason, the commencement of the transfer window according to some contributors has suffered unnecessary delay.

THISDAY recalls that PenCom, under its former management, led by Muhammad Ahmad, had in 2012, informed contributors that the commission was at the verge of introducing a software application window that would enable seamless transfer of RSAs from one PFA to another by savers who may wish to explore the window.

The then PenCom management had said that the estimated date for the opening of the transfer window was December 2012.

“Employees who are dissatisfied with the services being rendered to them by their PFAs will have the opportunity to transfer their RSAs from one PFA to another, beginning from December 2012. This is in accordance with Section 11(2) of the Pension Act which provides that the employee may, not more than once in a year; transfer his RSA from one PFA to another PFA without adducing any reason for such transfer”, Ahmad stated.

As at the time Ahmad gave this assurance, some contributors were already expressing dissatisfaction with their PFAS agitating for opportunity to migrate to other PFAs although the then Chairman of Pension Fund Operators (PenOp) Mr. Dave Uduanu had cautioned that contributors should be patient and restrain from much pressure on the transfer explaining that the problem they were experiencing with one PFA that made them want to migrate to another may be worse in the new administrator they were agitating to migrate to.

On the reason for the delay, PenCom had always explained that one of the reasons the transfer window had not taken off was that it was yet to conclude works on the supporting Information and Technology (IT) applications of the transfer window which will enable pension contributors change their administrators.

The commission, recently said it is working on the transfer window issues, noting that the framework had been issued to operators for implementation, and that work is still ongoing on the supporting information and technology application that would drive the initiative.

To ensure seamless operation of the initiative, PenCom said it had mandated PFAs and Pension Fund Custodians (PFCs) to deploy IT infrastructure for the transfer process.

It noted that such IT infrastructure must have adequate storage and retrieval capability for a period of 10 years.

As the regulator is fine-tuning its operations for a smooth take off, operators are gearing up for higher positions in the market.

Among the 21 Licenced PFAs, five big operators currently control the lion share of the market.

DG PenCom , Chinelo Anohu-Amazu

According to PenCom records, these five accounted for over half of the total N5.83 trillion RSA assets at 66.58 percent as at the end of the first half of this year. While among the 21 licenced operators, top ten ranking PFAs managed 88.20 percent of the total RSA assets and the remaining bottom ten PFAs accounted for 8.74 percent of the RSA assets under management at the end of the reporting period.

Among the leading five, at the top of the pyramid by size of assets under management and number of registered contributors is Stanbic IBTC Pension Managers Limited, which has over 1.4 million retirement savings account holders nationwide and assets under management in excess of N1trillion, paying approximately N2.1 billion to over 41,000 retirees monthly. Over N248billion has been paid to retirees since the PFA commenced operations in 2006.

This is followed by ARM Pensions, which clocked 10 years in December 2015, and has total assets of over N640 billion under management (as of November 2015) and reportedly paid out over N60 billion in pension funds to over 60,000 customers. Premium Pension Limited, is the next with over N420 billion in pension assets under management and well over 600,000 RSAs. It has paid out over N87 billion to more than 33,000 retirees as pension entitlements since 2007. Sigma Pensions Limited, incorporated in August 2004, is following with over 650,000 registered customers.

Among these and others, there is a glaring race on how to corner each other’s market with the four PFAs filing behind IBTC polishing their services and mounting publicity campaigns in a way that will enable them corner some of the leading PFA’s customers.

As the industry looks forward to reap bountifully from the emerging micro pension market which the regulator is currently fine tuning the operational guidelines, PFAs are positioning themselves to enhance their visibility in the emerging market.

The usual elements, such as brand identity, customer perception, financial resources as well as array of products and services are being reinforced to influence customer acquisition or defection. Referring to competition in the industry, PricewaterhouseCoopers noted that “PFAs are developing clear client value propositions and targeting specific contributor market segments as the race for leading market share intensifies,” and added that technological advancement is “bringing in several non-traditional players who will provide platforms for pension products and services.

In the days ahead, the strengths and weaknesses of each player will be further scrutinised as the battle for the minds of the consumers continues.

The foregoing scenario undoubtedly provides insight to an intense battle for market share.

For most PFAs, the pension transfer window will provide the ideal opportunity for both turf defence and customer acquisition.

When the window will eventually be thrown open, having been delayed for these years, remains a matter of conjecture. Nonetheless, Eguarekhide Longe, President of the Pension Fund Operators Association of Nigeria (PenOp), had at a recent parley with the media appealed for patience and understanding of account holders as PenCom finalises the transfer guidelines as well as installs the infrastructure to support it. The regulator itself had admitted a few gaps that needed to be filled before the window opens.

“A major challenge hindering the opening of the transfer window is the issue of RSA holders registering more than once through their PFAs on the Commission’s database,” PenCom stated. Also, “for effective take-off of the transfer window, the Commission is putting in place infrastructure and modalities that would enable the cleaning up of the existing registration database to eliminate multiple registrations thereby facilitating the opening of the transfer window,” said the commission.

While the commission concludes its work for a smooth take off, the negative effect of job loss that will emanate from the exercise is imminent as available signs are there that out of the existing 21 PFAs, more than half will lose their clients to the big fish in the industry.

From findings, it was discovered that when the contributory pension scheme started in 2004 and PFAs went into marketing of their firms, some organisations chose some PFAs on sympathy ground just for the sake of patronage. Also some organisations before choosing PFAs for their employees have not tested the performance of PFAs before as a result, they chose randomly among a number of PFAs that submitted their proposal forms to them.

Having experimented with such PFAs these years that the contributory Pension scheme lasted, some of these organisations have seen pitfalls of the PFAs they have chosen and have made up their minds for a change.

For such organisations, there are fears that as soon as the transfer window takes off, such organisations may open door of change for their employees and their PFA of first choice will have serious problem.

A major stake holder in the contributory pension

scheme has predicted that when the transfer window commences, the system may witness the existence of few big PFAs as contributors may prefer to deal with such big administrators there by starving others which may eventually lead to their demise.

This calls for serious brainstorming by both PenCom and the PFAs to ensure that not only effective transfer is achieved, also continuity of the existing firms is maintained. The demise of more PFAs in addition to few that died during the recapitalisation exercise will not be to the best interest of the economy as such PFAs will throw back their employees to the labour field.

PenCom should not only quicken steps in making the transfer window work, should handle the transfer window in such a way that will not spell doom for small and medium scale PFAs and ensure that such PFAs whose clients are complaining perfect their operations to be in position to satisfy their clients and compel them to remain with them.

Undoubtedly, the enactment of the Pension Reform Act of 2004, which was repealed by the Pension Reform Act of 2014, has strengthened the Contributory Pension Scheme and allowed for healthy competition in the industry, resulting in more transparency and accountability, which in turn, has enhanced efficiency, innovation and value for money.

With revision of the pension law in 2014, PFAs have adopted fresh approaches to engage both the underserved formal sector market and the informal sector. Having their peculiar needs in mind, targeted products and services have been developed and deployed, a reason partly responsible for the significant growth in private sector enrollment. Also, the adoption of digital technologies has been instrumental in triggering wider market coverage, buoyed by regulatory reforms that have accelerated market coverage and growth. There is a growing consensus among stakeholders that Nigeria’s pension industry now stands on a stronger foundation. Awareness about wealth creation through saving and investment is on the upswing on the back of aggressive marketing efforts by the regulator and operators.

Though retirement and investing may seem far away in the future and does not require immediate attention, Nigerians are beginning to appreciate the need for long-term plans and commitments, which are essential to create the wealth for future use, including retirement.

“The Pension Reform Act of 2014, among its very many laudable provisions, has been instrumental in expanding coverage of the Nigerian pension system and strengthening compliance, while building a vibrant pension industry capable of supporting economic growth and development,” said an operator.

Amongst its provisions, which expand the coverage net, private sector organisations with just three employees or more are now free to register under the scheme; while the law also compels an employer to open a Temporary Retirement Savings Account (TRSA) on behalf of an employee that fails to open a Retirement Savings Account within three months of being employed. In essence, whatever gaps that existed in the old pension regime had been effectively plugged in the new law, making the incidence of ghost pensioners and widespread mismanagement of pension funds almost impossible. It is also gratifying to note that the stiff penalties to be levied on pension funds fraudsters and employers who persistently fail to deduct and/or remit pension contributions of their employees within the stipulated time are helping to curtail abuse and other unscrupulous practices.

Also regulator’s efforts in clarifying the impression that pension funds are left to PFAs, employers, individuals or operators to handle as they wished has in no small measure built public confidence in the contributory Pension scheme.

31

WEDNESDAY,OCTOBER 19, 2016, • T H I S D AY

BUSINESSWORLD

NEWS

NAICOM Releases Risk-based Supervision Document Ebere Nwoji The National Insurance Commission (NAICOM), has finally released a blue print guideline for the implementation of the Risk Base Supervision(RBS) model for the insurance industry.

The commission, released the long expected document to the industry operators at the recent insurers committee meeting held in Lagos recently.

It gave the operators four weeks to peruse through the document, give their recommendations and return it to the commission for final approval.

RBS, an European Insurance market supervisory initiative, according to the World Bank, is a supervisory approach that considers each of the risks that

companies face and through a structured process, identifies the risks that are most critical to the financial viability of the institution.

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

NAICOM, said in introducing the model, which is expected to place Nigerian insurance industry on global best practices pedestal, it will ride on the van of Solvency 2 supervisory principle in regulating the activities of Nigerian insurance industry operators.The Commission has been postponing the release of the blue print copy of the guideline but did that at the last insurers’ committee meeting in Lagos, the last held for the year.

Briefing the media on the outcome of the meeting, the vice Chairman, Sub-committee on Publicity and Communication of the Insurers Committee, Mrs. Ebelechukwu Nwachukwu said the RBS will properly kick off next year.

She said the industry is preparing to host a retreat on the RBS for the operators in November to educate members on the new supervision model.

Earlier, the Commissioner for Insurance, Mohammed Kari, had informed the insurers that the Risk base supervision model, would enable them undertake risks in line with their financial capability. According to Kari, the exercise would lead to consolidation. He said not that consolidation is inevitable, stress-

ing that there are many players in the industry who do not add value to the services they provide.

He maintained that the exercise would change such attitude and position operators for effective operation.

“Consolidation does not mean just an additional capital. It could be redefining and identifying the type of insurance business you want to operate. For example, you do not have as much capital as company B, you would operate within the confines of your capital.

Today, we have capital as the only bases for operation and if you meet the minimum capital, you can operate.

“Our legislation had structured the industry into life, general and miscellaneous. So, if you are licenced to do general, it

means that with N3 billion you can attempt to insure petroleum refinery or you can claim the right to insure an Airline, which is not right if you look at the foundation of insurance.

“This is because, to be able to hold a risk, you must have enough asset base to cover the risk. So, risk base is being able to identify what is your financial capability.

If you financial capability does not guarantee you to insure oil refinery or airline, you would not be allowed to do so.

“Your financial ability may be to insure a Keke NAPEP, then you would be a specialist in Keke NAPEP insurance. That is what risk based is going to be. It is going to first of all require that we review and see whether the minimum capital requirement is

adequate. If it is not, we would require additional capital to meet that minimum. But if it is okay, we would just require the classification of companies’ assets plus the extra needed to get into the class of business one wants to undertake,” he said. Also speaking on the project, the Head Corporate Affairs, National Insurance Commission (NAICOM) ‘Rasaaq ‘Salami; said the project would kickstart in first quarter 2017. He noted that by then, all necessary requirements to make the project successful would have been put in place.

Insurers have adopted the rebranding initiative as a vehicle to transform their business. They resolved to propel the multimillion rebranding campaign through radio and social media channels.

FBNInsurance, FBN Insurance General Storm Market With Pocket- friendly Products Ebere Nwoji FBNInsurance limited and FBNInsurance General Limited, said in their bid to change the landscape of insurance underwriting business in Nigeria, they have spread into the market some research based products that are tailored to meet public insurance needs.

The companies at their 2016 Media Product Fair organised in Lagos, highlighted these array of products saying they have been evolved to carter for risks faced by the public.

According to the Managing Director, FBN Insurance General, Bode Opadokun,some life transforming products presently in the kitty of the General business include: Fire and special peril, motor insurance, plant and all risk policy, personal accident, marine cargo and more.

FBNInsurance, has in its kitty flexible education plan, easy save plan, flexible saving

plan, flexible cash flow plan, family income protection plan, extended family support plan, guarantee lifetime retirement income plan, annuity and more.

He said the company within its very short time of operations has transformed general insurance business through these products.

The Managing Director, FBNInsurance, Val Ojumah, said FBNInsurance has in its kitty flexible education plan, easy save plan, flexible saving plan, flexible cash flow plan, family income protection plan, extended family support plan, guarantee lifetime retirement income plan, annuity and more.

He said the coming of the firms into underwriting business have helped to change the landscape of the industry as they have continued to occupy more grounds at a time many of their peers are running around looking for investors to help shore up their capital.

Women in Agriculture Lament Poor Funding by Government George Okoh in Makurdi The Nigerian Association of Women in Agriculture (NAWIA), has expressed concern over the neglect and poor funding of rural women farmers by successive governments in Nigeria despite the fact that they produce over seventy percent of the food consumed in the country.

Speaking in Makurdi at the rally to mark the 2016 Rural Women’s Day Celebration sponsored by Oxfam in Nigeria, the President of NAWIA, Mrs. Ngizan Chahul, noted that since rural women farmers produce substantial chunk of the food consumed in Nigeria, they deserved better funding and encouragement.

Chahul noted further that for government to successfully pull the country out of recession, “our agricultural policy, our budget for agriculture and our investment in agriculture must change.”

He added: “We must all support the voices of rural women farmers who are more in number and suffer most challenges and we must prioritise local agroprocessing factories.”

In her speech, the Benue state Commissioner for Women Affairs, Mrs. Mwuese Mnyim said “the ministry is working closing with stakeholders to empower women through the Anchor Borrowers programme, Women Fund for Economic Empowerment, WOFEE, and the current registration of women in the Government Enterprises Empowerment Programme, GEEP.” The Commissioner of Agriculture, James Anbua in his speech said the Ministry had carried women along in most of its programmes in the areas of providing accesses to fertilizers and credit facilities, land development and clearing, cassava and rice value chain development programme.

STOCKBROKERS’ CONFERENCE

L-R: Members, Organising Committee, 20TH Annual Stockbrokers’ Conference, Ms. Chidinma Chukwuemeke, Mr. Tunde Amolegbe, Mr. Yomi Adeyemi and Mrs. Lilian Olubi at a media interactive session on preparation for conference in Lagos…recently

Ministry Warns Officials over Fraudulent Activities Hands over Suspects to EFCC

•

Kasim Sumaina in Abuja The Ministry of Mines and Steel Development has said that it has issued a stern warning to all ranks and files in its workforce over fraudulent activities capable of jeopardising the economic diversification efforts of Government It noted that this became necessary due to its commitment and determination to plug all revenue leakages and improve revenue generation from the mining sector.

In a press release signed by the Permanent Secretary of the ministry, Mohammed

Abass obtained by THISDAY in Abuja, the Ministry said it is working closely with the relevant security agencies to fish out fraudulent elements within its workforce.

The statement read in part: “To all concerned, especially perpetrators of illegal mining activities and their collaborators, within the industry and outside, that acts capable of jeopardising the economic diversification efforts of Government would be visited with the full weight of the law. “The Ministry of Mines and Steel Development has reiterated its commitment and determination to plug all

revenue leakages and improve revenue generation from the mining sector.”

To this end, the ministry noted that it has handed over some suspects to the Economic and Financial Crimes Commission (EFCC) for further investigation on fraudulent activities.

“The suspects have now been handed over to the Economic and Financial Crimes Commission (EFCC) for further investigation. Any acts capable of jeopardising the economic diversification efforts of Government will be met with stiff penalties.”

It warned that criminal

activities bordering on revenue diversion, under-payment, under-assessment and underreporting would be treated as economic sabotage and perpetrators would be visited with the full weight of the law.

The development came against the back drop of criminal activities of some officials of the ministry, which was uncovered recently by the underground taskforce team set up by the ministry for that purpose leading to the arrest and subsequent handing over of some suspects to the Economic and Financial Crimes Commission (EFCC) for further investigation.

Graduate Entrepreneur Wants Govt to Support Locally Manufacturing of Tricycles James Emejo in Abuja A graduate entrepreneur and Managing Director, Galaxy Transportation and Construction Service, Mr. Babagana Abba Dalori has urged the federal government to break the present Indian monopoly in the importation of commercial tricycles, popularly known as “keke Napep”in order to further empower Nigerians.

He also urged the government to work towards ensuring that the tricycles are manufactured in the country as a way of creating huge employment opportunities for Nigerians as well as driving down the cost of the items in the country.

Speaking in an interview with THISDAY in Abuja, Dolari said: “What I want the government to do is that this monopoly system is not

helping us because it’s only the Indians that are currently able to import this kind of tricycle.

“So we want government to start encouraging Nigerians to produce the tricycles locally because the importation cost is too high and is currently being monopolized. Only Indians are allowed to import the tricycles and it makes the price go higher from India. So

if we are able to manufacture locally, it will be cheaper and everyone will benefit from it and invest in it.”

Dalori, a graduate of Electrical Electronics Engineering from the University of Maiduguri had taken advantage of the transportation needs within the Abuja metropolis and invested his savings in the operation of Keke Napep after his youth service.

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

32

EDUCATION Stakeholders Differ on Benefits of UTME Results’ Validity Extension ThepassageofthebillextendingthevalidityoftheUnifiedTertiaryMatriculationExamination results to three years has sparked reactions from education stakeholders, while some think it willaffectadmissionprocessesintotertiaryinstitutions,otherssayitisawelcomedevelopment in line with best practices. Funmi Ogundare reports The senate last week extended the validity of the Unified Tertiary Matriculation Examination (UTME) result conducted by the Joint Admissions and Matriculation Board (JAMB) from one year to three years.

It also supported the scrapping of the postUTME screening for prospective students of tertiary institutions in the country. The validity extension and the post-UTME scrapping was part of the amendments made to the JAMB Act. The Senate Committee on Tertiary Institutions and TETFund, which presented its report on ‘A Bill for an Act to Amend the Joint Admissions and Matriculation Board Act and for other matters connected hereof, 2016 SB.245’ to the chamber during the plenary, said the purpose of the bill was to amend the JAMB Act to increase the validity period of the UTME from one academic year to three academic years.

The senate had passed the bill for the second reading in June before referring it to the committee.

In considering the bill, the committee had also made reference to the contributions of the lawmakers regarding the financial hardship experienced yearly by parents and guardians while sponsoring their children for the examination.

According to its report, “a new subsection ‘B’ is inserted after sub-section ‘A’ of Section 5 as follows: “5(b) The matriculation examination conducted by the board shall be the sole examination required for admission and entry into all universities, polytechnics (by whatever name called) and colleges of education (by whatever name called) to the exclusion of any other institution or body. “(c) The appointment of examiners, moderators, invigilators, members of subject panels and committees and other persons with respect to matriculation examination and another matters incidental thereto or connected therewith.

The committee inserted a new ‘Section 6’, which spells out the validity of UTME result.

The section read partly that: “Any examination conducted by the board pursuant to the powers conferred by this Act shall be valid for a period of three academic years from the date of the examination.

“A candidate meeting the requirements for admission and being duly qualified shall remain so qualified for the period prescribed in sub- section 1 of this section.

“A candidate awaiting admission shall be given preference in the succeeding year over fresh applicants who shall only become eligible when the backlog has been cleared.”

The bill was unanimously passed by the senators.

The recent development has no doubt put smiles on the faces of parents and prospective undergraduates, as it will save them the expenses of writing the examination every year, as well as the anxiety associated with preparing for such life-changing examination.

However, some experts have faulted it, saying that it will affect admission process making it problematic and that there will be many candidates gathered in the pool of awaiting admission into the university without updating their knowledge actively; while some others see it as a welcome development in line with best practices.

The Vice-Chancellor of Afe Babalola University, Ado Ekiti (ABUAD), Prof. Michael Ajisafe, faulted the passage of the bill, saying that it would make admission to be more problematic in Nigerian universities. “The senate would have taken cognizance of the fact that each university has an admission quota every year.”

UTME candidates

He said a situation whereby a university that can’t even cope with a year’s quota is being dragged into admitting students who had qualified for the past three years will make the admission policy more cumbersome.

“So to us in this university, we believe problem will come from there.”

His counterpart at Fountain University, Osogbo, Osun State, Prof. Bashir Raji, described the senate’s action as interesting, saying that there are many questions and loose ends that need to be taken care of first.

“What happens if a student on his own decides to rewrite and gets higher score? How administratively will it be to transfer scores from JAMB for subsequent years to the same university or even for a different course?

“As an administrator, once my institution conducts post-UTME, does it really matter if the JAMB score is extended for three matters?

The most important issue is the acceptance of the JAMB scores, once it is representative of each student’s ability, extending it would save parents some cost.”

Raji opined that students without five credits in the Senior School Certificate Examination (SSCE) should not be allowed to write UTME to reduce pressure and incidence of examination malpractice.

The VC argued that the senate should have proposed that students should write UTME without attaching it to any university, while they thereafter use it to seek admission into any university of their choice within three years.

A Geography teacher at Command Day Secondary School, Ojo, Mr. Monday Otuya questioned the move saying, “what is the senate trying to protect by making the UTME score of a candidate for this year to remain

valid for three years? Is it the cost of JAMB form or the cost of logistics by the candidate?

Is the senate thinking that a good candidate who scored very well in JAMB this year may not get it well in subsequent years?”

He opined that the senate should have looked into the reason why a candidate who scored well in UTME would not be offered admission into a university of his/her choice or any other university within the reach of the sponsors of such candidate.

He added that the problem associated with the senate’s decision is that there will be so many candidates awaiting admission into tertiary institution without updating their knowledge actively.

The Head North Central Zone of the National Institute of Cultural Orientation (NICO), Mr. Ohi Ojo, said the extension does not in any way guarantee the consistency in the conduct of the examination as several students claimed that this year’s exam was fraught with a lot of illogical results given several candidates.

“The extension of the validity should be looked at from two angles, first is the possibility of the perception of the examination itself to be consistent every year, secondly students who may be indigent, can source for funds without having to re-sit the exam, as well as decide to change or insist on course they wish to study the following year,” he said He said it would be a relief to many parents as their children would not need to keep re-sitting UTME several times by leaving a huge drain in their pockets. “I think it is a welcome development.”

A lecturer in the department of Mass Communication, Lagos State University School of Communication, Dr. Tunde Akanni, said

the bill passed by the senate is in line with global best practices. For insnatance, he said the GRE examination in the US doesn’t expire the same year.

“This new span for exam results is to me a tip of Oloyede’s ingenuity as a tested scholar and administrator. Nigeria is headed for good with people like this. Don’t forget that it is only JAMB that is in the news for good, although TETFund and other education agencies got new heads at once. TETFund in particular seems deactivated since Prof. Bogoro days.”

A teacher at the Federal Government College, Ijanikin, Mrs. Atinuke Brown, said the passage of the bill shows that the country is waking up to the realisation that there is something wrong with its education system.

She regretted that there is gross inadequacy in schools’ infrastructure therefore meaningful impartation cannot be carried out.

She added that the available spaces in all available universities cannot be compared with the millions that are qualified for admission into the universities.

“Get the last number of students who wrote UTME in the last two years and the vacancy; it was about three million compare to the vacancy for 500,000. The government has no plans for the education of the citizens, if yes, there would have been adequate provision for the smooth transition of eligible students from cradle to tertiary institutions.”

Brown said this has made the citizens of the country to exploit other country’s higher education. She however said the three year validity extension will be a welcome idea in the interim for students who could not be absorbed into the university but have good results.

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

33

EDUCATION

NUC Articulates Strategies to Transform Varsity Education

Uchechukwu Nnaike

Henceforth Nigerian universities will no longer offer sub-degree diploma programmes, as the National Universities Commission (NUC) has directed universities running them to begin the process of winding them down.

A comprehensive review of the entire university curricula- the Benchmark Minimum Academic Standards (BMAS) and ranking of Nigerian Universities- have also been scheduled for 2017, while two of the cardinal activities of the commission, accreditation of programmes and resource verification, will now take place only twice and thrice a year respectively: May and November for accreditation as well as March, July and December for resource verification.

These were some of the decisions taken at the interactions of the Executive Secretary, Professor Abubakar Adamu Rasheed with vice-chancellors of federal, state and private universities in the country. The three-day meeting, which ran from October 10-12, 2016, had the entire NUC management with vice-chancellors of federal universities on the first day; their counterparts in state universities on the second and those of private universities, along with some of their proprietors, on the third day.

Other decisions taken include the revamping of institutional accreditation, commencement of accreditation of part-time programmes and resumption of the Nigerian University System Annual Review Meeting (USARM).

The issues of accreditation of academic programmes by professional bodies, shortfalls in personnel emoluments and incorporation of universities into the Integrated Personnel Payroll Information Systems (IPPIS) and matters arising from the 2009 agreement between the federal government and the Academic Staff Union of Universities (ASUU) were also extensively discussed. So was the issue of governance structure, as well as the university education component of the Ministerial Action Plan.

All the universities were charged to develop and implement an Institutional Research Policy; and, as a matter of urgency, establish a Research Administration Directorate, to be headed by an academic, not below the rank of a professor; with appropriate human and material resources to run an Office of Intellectual Property and Technology Transfer (OIPTT) or Office of Technology Commercialisation and Industry Relations (OTCIR). The Research Directorate of NUC is being strengthened to work with those of universities to co-ordinate research activities in universities and ensure relevance of their outputs.

To guarantee continuous quality improvement, the universities were directed to strengthen their internal quality assurance mechanisms by establishing a Directorate of Quality Assurance as a stand-alone, or in the alternative, ensure a strong Quality Assurance Unit in the Directorate of Academic Planning.

This is to be headed by an academic, who must also be a member of senate.

NUC called for a complete change of orientation, saying that a university that internalises quality would make the commission’s work easier because it would cover issues such as guidelines for the appointment and promotion of staff, research policy, applying for grants and judicious use of the same, the role of senate in curricular development, admission of students, how teaching and learning take place, administration of examinations, appointment of external examiners, university ceremonies, among others.

The executive secretary told the vicechancellors that he called the meeting to take them into confidence by intimating them with NUC’s new thinking, programmes and direction. As partners in progress, with common concerns, he expressed hope of getting the VCs’ feedbacks and be informed about their universities’ programmes, activities and plans for the future, as well as what they expected of the commission.

The aim was to reposition NUC to work

Rasheed

more closely with the universities for effective quality service delivery, as they perform their tripartite function of teaching, research and community service.

On the scrapping of university diplomas, Rasheed said running sub-degree diplomas was not the business of universities, but that of polytechnics, more so when the federal government as far back as November, 2001 had issued a circular stating that such diplomas could not be used for employment or promotion purposes in the public service. Rather than stretch their facilities to run sub-degree programmes, he said the universities should direct their energies towards their primary function of producing high level manpower for the economy by strengthening their part-time programmes, in addition to offering high quality undergraduate degrees, as well as postgraduate diplomas and degrees.

In view of the increasing cost of PhD training abroad and the need for Nigerian universities to continue to develop their staff and produce more PhDs for the economy, NUC encouraged all universities to identify their areas of strength/comparative advantage and collaborate among themselves to mount joint PhD programmes.

While counselling the vice-chancellors to be courageous enough to close down any unviable programme, Rasheed also tasked them to be creative and innovative enough to come up with new courses and programmes that would address emerging societal challenges. He expressed NUC’s readiness to work with them to develop the BMAS for such new programmes.

Following the recent development of the BMAS for Aeronautics and Aerospace Engineering, a collaboration between the commission and the Kwara State University, he said NUC would soon conclude work on the BMAS for the bachelor’s degree in Software Engineering, Cyber Security, Agriculture Extension Services, Medical Physics, Information Technology and Management Information System, among others. He reminded the universities that while they could not jettison the BMAS, it was the minimum for each programme and they

were at liberty to innovate and build on it.

For the comprehensive review of the university curricula, NUC said it would engage a mix of old, experienced and young, vibrant academics to come up with curricula that would not only be dynamic and responsive to national needs, but also conform to global trends.

Reacting to the constant criticisms of Nigerian universities’ poor showing in global ranking, Rasheed submitted that many of the variables, parameters and indicators of those rankings were outside the control of Nigerian universities and the NUC. “We, the managers of the universities are satisfied with the quality of our degrees and graduates because our good students from good universities, who make first class, second class upper, even good second class lower, go abroad for their masters and come back with distinctions and merits.

Most of our graduates are qualitative and they can hold their own anywhere.”

He regretted that whereas the positive things happening in the NUS were largely under-reported, the negative ones, like when a few semi-illiterates graduated from the system, either through cheating or some other forms of corruption and were unable to defend their certificates, dominated the air waves.

While stating that rankings stimulate competition among different universities and programmes and contribute to the definition of quality, the executive secretary however dissociated the commission from any reported ranking of Nigerian universities in the media, saying that it had not embarked on any such exercise in the last 15 years.

He said the commission will conduct ranking next year ’s to put an end to the spurious claims and innuendoes about the academic standing and quality of Nigerian universities. The exercise is expected to be done in line with global best practices, with emphasis on the selection of performance indicators that would take cognisance of the Nigerian context and its peculiarities, as well as the need for its universities to

be globally respected.

On the reform and streamlining of the accreditation process, he explained that NUC hitherto conducted the exercise all year round, but the plan to conduct it twice a year would give the commission enough time to plan well for it and perform its other statutory functions without distractions. He warned that any university that failed to present its programmes for accreditation as and when due without satisfactory reasons, given well in advance, would earn denied accreditation and the relevant agencies (JAMB and NYSC) would be duly notified.

Rasheed announced that plans are underway to restore and standardise the coordination meetings for panel members, adding that NUC would be more creative and flexible by reviewing its instruments and template for accreditation, as well as the database of panel members, as it would no longer rely on their recommendation by their institutions alone. Accreditation would now be programme focused such that a team would consist of panel members in a core subject area, who would visit the same programme in three to five contiguous universities, while regular post-accreditation visits would ensure continuous improvement in quality.

“Institutional accreditation would address the overall quality of the Institutions without making judgments about specific programmes.

The accreditation of part-time programmes will ensure that they are of the same quality as the full-time programmes, thereby restoring public confidence in them.”

On the frequent visits by several professional bodies to universities for accreditation purposes, the commission reiterated that it is the only body empowered by law to lay down minimum academic standards and accredit programmes in the NUS, with entrusted powers to close down defaulting programmes and universities. It added that the training leading to the award of degrees is the responsibility of universities, while professionalism could come after graduation.

Professional bodies were therefore advised to wait until after the graduation of students to introduce them to further professional qualifications or certifications.

In recognition of the importance of data for proper planning and administration, NUC resolved to resume the annual University System Annual Review Meeting (USARM), which was suspended in 2012. The exercise enabled the commission to interact with university administrators directly and obtain information on the status of their yearly activities.

Institutions were expected to submit various data ranging from their compliance with government directives, institutional challenges, academic and fiscal plan, annual recurrent and capital grants, admission, staff, students population and distribution, among other kinds of information for general planning purposes and for the information of enquirers.

Universities were mandated to commence the submission of these data immediately to enable the commission publish the Nigerian Universities Statistical Digest ahead of the 2017 USARM. Public universities were told to expect visitation panels before the end of the year.

A summit on private universities will hold next year, where NUC’s position and those of the universities would be examined and a consensus reached.

Following exhaustive deliberations on the matters arising from the 2009 Federal Government/ASUU Agreement, such as the Nigerian University Pension Management Committee (NUPEMCO), earned allowances, needs assessment, among others, NUC assured the vice-chancellors that it is articulating a position paper to the federal government on the need to constitute its renegotiating team to address all matters pertaining to the agreement. It called on the union to do the same, adding that the commission would continue to work with all parties in the best interest of the NUS.

34

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

EDUCATION

Let’s Keep Nigerian Children Safe, Says Osinbajo’s Wife Peace Obi The wife of the Vice-President, Mrs. Dolapo Osinbajo, has called on all Nigerians to rise to the challenge of ensuring that children are safe from every form of harm or molestation as they grow and seek education.

She said it has become pertinent for all to join forces to improve children’s safety because parents can no longer keep them safe like they used to.

Osinbajo, who was the guest of honour/speaker at the 20th founder, speech and prize-giving ceremony of the Redeemer’s International Secondary School, Lagos recently, said children are very precious and it is a wonder and delight to watch them grow, but painful to lose them.

“My plea is for us to keep the children safe. My fear is that we can no longer keep them safe the way we used to. I was with 21 of the Chibok girls that were rescued recently, if only you have looked into the eye of a mother who has lost a child, if only you had seen the pain, the grief, the anger and anguish in their eyes; the hopelessness and shame, then you will know that we can’t help it anymore, we must save the children.

“I don’t think anyone could fault their parents for sending them to school to get an education. I don’t think anyone could

fault the children for being in school trying to get an education. They were not in the wrong place, they were not out at night, they were not found in a place where they were not expected to be, yet they were not safe. My plea is that it is our collective responsibility now to keep the children safe. The children we speak of are not only ours but all the children.”

Deliberating on the theme, ‘God our Sufficiency’, the guest speaker said the youth must be encouraged to embrace the Holy Spirit because they live in a new world, where they do not only compete with their peers within their communities, but against their counterparts all over the world. Urging the students to distinguish themselves in whatever they do, she said, “surely, everyone has something that God has given them as a talent or as a gift. But surely, you are not the only one with that talent or that gift. You must distinguish yourself and our sufficiency is of God and it is not of us.”

Congratulating the school on its 20th anniversary, she said it has continued to provide an exemplary standard of education and godly values to its students since 1997. “I salute the dedication of the principal and staff of RISS. To the students both past and present, I say God speed and good success in Jesus

name.”

In her congratulatory message, the Chairperson, Christ the Redeemer’s Schools Management, Folu Adeboye, thanked God for innumerable blessings and exceptional performances of RISS students in national and international examinations, scholarship awards among others.

“We thank you for running with the vision to prepare a people for the lord and we thank God for what He is doing to perfect the vision. We would like to thank you for being a change agent of Nigerian citizenship in producing professionals with integrity, evangelists, teachers and preachers that will continue to carry the light until Jesus comes.”

The Principal, Mrs. Feyisara Osinupebi, who was visibly excited, told THISDAY that it has been 20 years of moulding the lives of a chosen generation. “God has moved us from glory to glory. He has given us what we thought were impossible. He has given us children who have done excellently well in their academics and life generally. We have had and continue to have children who have gone to prestigious universities on full scholarship.”

Osinupebi advised Nigerian children to “be that one person that will decide to do the best and the right thing that will be beneficial to the society. Challenge yourselves and be the best you can.”

Women Mentally Well It was World Mental Health Day last week and all around the world nations focused on the mental wellness of their people. I was particularly concerned about women so I skimmed several current global news for issues relating to women’s mental health.

Depression surfaced very frequently so I ask, “are you a depressed woman?”

Do you know that depression mirrors a mental health state? Are you worried about the moods you persistently find: yourself, your wife, your partner, your mum, your daughter or your girlfriend in?

Have you found anyone to discuss your fears with? Do you know that women are twice as likely than men to experience Clinical Depression?

Depression in women is destructive. Few women get help for it. It is a fact that “women are twice more likely than men to develop clinical depression (mood disorders). Symptoms of depression in women include: persistent sadness, feelings of helplessness, hopelessness, worthlessness, constantly having little or no appetite, weight loss, or even excessive eating with weight gain, insomnia - sleep problems, Lowself-esteem, irritability, difficulty concentrating, fatigue, plus physical symptoms like persistent headaches, chronic aches and pains, and digestive disorders.

Do you know that more than 80 per cent of spouse abuse victims are women? Do you frighten, degrade, sexually assault, shove, push, threaten, beat, control, and coerce, your woman/women?

One very common type of depression in women is post-partum depression and black women have postnatal depression too! “Baby Blues” (another name for it) affects ‘women of colour’ as well. Unfortunately many black women down-play its symptoms, ‘get on with it’ and suffer with little or no support and understanding. By the way, post-partum depression is also called postnatal depression and experienced by many new mothers all over the world. Women tend to experience this form of depression for about two weeks after childbirth.

Symptoms include: persistent feelings of sadness and lowness, feeling sad, depleted and stuck with the baby, loss of interest in people and goings-on around, tiredness, low levels of energy, inability to bond with the baby, resenting the baby’s constant demand for care and attention, thoughts of venting your frustrations on baby and or wanting to hurt baby, withdrawal from other people.

So keep an eye on your lady, daughter, wife, grandma or neighbour. No depression is negligible.

It could cost their lives.

Omoru writes from the UK

L-R: The Principal, Redeemer’s International Secondary School, Lagos, Mrs. Feyisara Osinupebi; wife of the Vice-President, Mrs. Dolapo Osinbajo; the Head, Department of Science, Mrs. Perpetual Akanwa; and Mrs. Tosin Olufawo, during the presentation of pioneer staff award to the beneficiaries at the 20th founder, speech and prize-giving ceremony of the school in Lagos… recently

NGO Decries Dearth of Female Teachers in Rural Areas Segun Awofadeji in Bauchi The Bauchi High Level Women Advocates (HILWA) has expressed concern that the problem of inadequate female teachers in schools, especially in rural areas is hindering the education of the girl-child in the state.

The Chairperson of HILWA, Hon. Maryam Bagel, stated this during the commemoration of the International Day of the Girl-child, organised by the group in collaboration with the State Universal Basic Education Board (SUBEB) and UNICEF

with the theme ‘Girls Progress equal Goals Progress’ in Bauchi recently.

Bagel, who is the only female member of the Bauchi State House of Assembly, regretted that primary school female teachers constitute only 30 per cent of the total number of teachers in the state.

“The current Nigeria Education Data Survey (NEDS) 2015 shows that the number of rural females without any form of schooling in the country is put at 49 per cent.”

She regretted that the discrimination against girls’ education

persists in the state because of customary attitudes, child marriages, religious misconception, inadequate and gender biased teaching, educational materials and lack of adequate accessible schooling facilities.

The HILWA leader also observed that girls’ school enrollment figures in the state has continued to attest to below average enrolment, retention and completion leading up to the junior secondary and senior secondary levels.

While lauding the contributions UNICEF and other development partners to promote

girls’ education in the state, Bagel called for more concerted action by all stakeholders to address the issues that are hindering girls’ education in Bauchi.

In his remarks, UNICEF Chief of Field Office, Bauchi, Abdulai Kaikai, said there is five per cent increase in girls’ enrollment in the state from 2015 till date.

He commended the state government for its effort in supporting girl-child education and called for the support of all stakeholders to ensure that all girls are educated in the state.

Tambuwal Approves Recruitment of 96 Science Teachers, 20 State Counsels The Sokoto State Governor, Aminu Waziri Tambuwal has approved the recruitment of 96 new science and technology teachers and 20 lawyers to serve as counsels in the state ministries of science and technology and justice respectively.

A statement issued in Sokoto Monday by the Governor’s spokesman, Malam Imam Imam, said the new recruits will improve the manpower needs of the two ministries and enhance productivity in the state civil service.

“Those to be employed as teachers will have the necessary qualifications for teaching and will be posted to secondary schools under the Ministry of Science and Technology.

As for the lawyers, they

will augment the existing 56 lawyers in the ministry of justice. They will serve as replacement for state counsels who retired or died while on duty, as well as those who joined the federal judiciary,” the statement added.

Reports from Sokoto indicate that so far, the state Civil Service Commission has received no fewer than 300 applications from various candidates seeking to fill in the vacant posts announced.

The state government had earlier announced the recruitment of 21 fresh doctors for the ministry of health, while last year, 500 teachers were recruited to teach in various secondary schools across the state.

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

35

EDUCATION

Registrar Urges FG to Appoint VCs as Heads of JAMB Board Paul Obi in Abuja The Registrar of the Joint Admissions and Matriculation Board (JAMB), Professor Is-haq Oloyede, has called on the federal government to revert to the old days where only serving vice-chancellors of universities were made chairmen of the governing board of JAMB for good synergy and harmonious relationship with a view to effectively deliver on the board’s objectives.

Oloyede made the call while presenting a paper at a meeting of the Association of Vice-Chancellors of Nigerian Universities (AVCNU) in Abuja.

He explained that for almost two decades of the board from 1977 to 1993, only serving vice-chancellors were made chairmen, from Prof. Oladipo Akinkugbe, VC University of Ilorin; Prof. Donald Ekong, VC University of Port Harcourt;

Prof Adamu Baike, VC University of Benin; Prof. Mahdi Adamu, VC University of Sokoto; and Prof Isa Mohammed, VC University of Abuja.

“This practice, which promoted harmony and quality inputs on the board’s matriculation activities has since been forgotten or neglected. The appointment of the chairman of the board could be restricted to only heads of tertiary institutions in Nigeria perhaps in rotational basis among the vice-chancellor of universities, rectors of polytechnics, monotechnics and provosts of colleges education.”

The registrar also charged heads of tertiary institutions to participate in the supervision of the board’s matriculation examination particularly in the centres within their institutions and the neighborhood so as to improve the sanctity of the examination.

Oloyede appealed to the government to go back to the practice from inception, saying that the board is a creation of the committee of vice-chancellor and it will only be proper for them to be clearly recognised as active stakeholders to avoid any acrimony between tertiary institutions and JAMB. He assured the AVCNU of his determination to ensure a smooth relationship with all institutions for the good of the board, reiterating his earlier stands that the task of JAMB is coordination of admissions and not substitution of traditional responsibilities of the senate and academic boards of tertiary institutions.

Oloyede however stated that “JAMB has the right to reject candidates for noncompliance with extant rules and regulations but will not be allowed to substitute or originate any name without

the prior concurrence of the senate/academic board of the institution.”

He expressed his dissatisfaction “with the way the issues of regularisation have been handled by institutions”, and disclosed the observation by the National Youth Service Corps (NYSC) over the abuse of the intervention policy which was meant to address certain admissions challenges but became an avenue for corrupt practices.

“In view of the abuse that the regularisation of admission has been subjected to by institutions, a new template to be completed online has been designed by the board to curtail the rampant request for regularisation and only regularised in very rare cases where sufficient and convincing reasons are given through a thorough process for candidates who need to be regularized.

“The process will ensure that after completing the form online the candidates will print an indemnity form which they will take to their vice-chancellors, rectors, provosts or registrars of their institutions to be signed before submission to the board through our state offices nationwide. This process is to ensure that only genuinely admitted candidates are regularised.”

The registrar also disclosed that henceforth the board will discontinue the use of scratch cards for any of its services and rather use the platform of pin vending. “This is as a result of its consistent subjection to fraudulent practices, it is archaic and the board’s drive to also promote accountability in line with government zero tolerance for corruption.

“This new system will be accessible through the payment options of: web payment, ATM issued cards (Visa, Verve

and MasterCard), online quick teller, ATM payment, quick teller mobile application and bank branch case and card.”

He disclosed that the National Assembly is in the process of amending the board’s act, adding that an appeal was made to the National Assembly when he visited the Senate Committee on Tertiary Education to suspend the process of the amendment and allow the board and all tertiary institutions including the ministry of education and other necessary stakeholders to go back to the round table for discussion at a very conducive atmosphere as all have agreed to work together for the benefit of the Nigerian child.

“The content of the bill as presently with the National Assembly is a product of acrimony and if passed will be counter-productive.”

Appointment of Deans, HODs Causes Stir at AAUA James Sowole in Akure Few days after the suspension of a three month strike by the Academic Staff Union of Universities (ASUU), Adekunle Ajasin University, AkungbaAkoko (AAUA) chapter over unpaid outstanding salaries and deductions, another crisis is looming at the institution.

The looming crisis according to the Chairman of the institution’s chapter of ASUU, Dr. Sola Fayose, was sequel to some decisions and appointments allegedly made by the Vice-Chancellor, Prof. Igbekele Ajibefun.

The union in a statement titled ‘Ajibefun and Authoritarian Predilection’ said the appointments were contrary to the extant rules and regulations.

“Professor Igbekele Ajibefun is on the way to precipitating another round of instability in the institution based on his brazen violation of rules and regulations. Central to these was the decision of the vice-chancellor to appoint acting

deans of faculties and heads of department while the defunct strike action was on.

“The local ASUU in AAUA at the point it was suspending the strike, called the attention of the vice-chancellor to this infraction through a resolution of congress which also demanded that the process be reversed within seven working days, starting from the day the resolution was taken.”

The ASUU chairman said the vice-chancellor was resolute to take up the union by summoning the senate of the university, which would have in attendance these irregularly appointed deans and HODs notwithstanding the good reasons that are needed to protect the university.

The union also stated that the vice-chancellor had continued to employ academic staff that are over 70 years in total disregard of the 2009 ASUU/ FGN Agreement and Ondo State Government White Paper and Official Gazette.

Maltina Teacher of the Year to be Unveiled Tomorrow The Maltina Teacher of the Year 2016 will be unveiled at a grand ceremony in Lagos on October 20, 2016. The event, organised to celebrate and showcase exceptional teachers and the teaching profession, will hold at the Grand Ball Room, Oriental Hotel, Victoria Island, Lagos.

The race for the coveted prize generated huge excitement and expectations from teachers across the country. After a rigorous screening process, the state champions are now in the final race to determine the best teacher in Nigeria for 2016.

The award instituted to recognise, reward and celebrate exceptional teachers in Nigeria, is an initiative of the Nigerian Breweries - Felix Ohiwerei Education Trust Fund. The fund was established in 1994 to enable it play a more active role in the

development of education in Nigeria. Since then, the fund has impacted over 20,000 students across the country. It has constructed and furnished over 280 cAlassrooms, 280 sanitary facilities and libraries in 40 communities across Nigeria. It has also awarded scholarships to deserving students and tertiary institutions. According to the Corporate Affairs Adviser, Nigerian Breweries Plc, Kufre Ekanem, “the Education Trust Fund expanded its intervention in education in Nigeria in 2015 to teachers through the Maltina Teacher of the Year initiative.

The initiative was hinged on the realisation that teachers seldom get the recognition they deserve in spite of the pivotal role they play in training, coaching and determining the quality of education.”

ALL FOR ICT EDUCATION

L-R: Mark Akapo; the Chief Executive Officer, Educational Advancement Centre, Mr. Muyiwa Bamgbose; the Director, Leaning Spy, David Didau; and Oguntayo Opeyemi, during the 10th anniversary seminar and launch of ‘School on Air’, a video tutorial for secondary schools in Lagos… recently

Firm Unveils Video Varsity Don Seeks Tutorials to Boost Learning Improved Funding of The quest by Nigerian students subjects and would be intel- Girl-child Education to compete favourably with lectually equipped enough to their counterparts in other parts of the world using ICT recently received a boost with the launch of the ‘Video Tutorials’, which enable students to interact directly with a tutor like in a classroom setting.

The Video Tutorials, developed by the Education Advancement Centre (EAC) comprise audio visual files which contain lessons on various subjects.

The files can be installed on android phones, tablets, and PCs without the rigour of internet connectivity.

Speaking during a public lecture to celebrate EAC’s tenth anniversary in Lagos recently, the Director, Mr. Muyiwa Bamgbose regretted that many students continued to record poor performance in the West African Examinations Council (WAEC) and the National Examinations Council (NECO) examinations when the solution to their challenges is few steps away.

He explained that once the video tutorials are fully optimised, learners would be rich in knowledge of their respective

challenge their teachers on any knotty areas in the classroom.

“Most Nigerian teachers are not necessarily lacking in knowledge; they are only poorly motivated. But when they know that the children will ask challenging questions in the classroom, they will sit up because no teacher wants to look ignorant before his students.”

To make it affordable for all, Bamgbose a cleric said the product is sold as low as N15 per lesson. “Schools can have all the lessons for all subjects installed on their systems for as low as N30,000.”

He said though finance has been a major challenge to marketing the product across the country, the product has continued to gain popularity wherever it is introduced.

Bamgbose recalled that to further raise consciousness on the product, EAC team had visited the former Minister of Education Mallam Ibrahim Shekarau, who regretted that the device was brought to him at the climax of his tenure.

Mohammed Aminu in Sokoto

A lecturer at the Faculty of Education, Usmanu Danfodiyo University, Sokoto, Prof. A’isha Madawaki, has called for improved funding of girl-child education.

Speaking at a stakeholders’ forum in Sokoto, Madawaki said such funding is required for the establishment of more girl schools, which should be adequately funded. She said such schools should be properly equipped and staffed in order to achieve the desired targets.

“There is need to ensure that more girls are enrolled in schools at all levels. Steps should also be taken to ensure their retention and completion of their studies.”

Also speaking, the state Chairperson of a Group, High Level Women Advocates (HILWA), Hajiya Kulu Sifawa, called for increased investment in adolescent girls as a means of tackling poverty, discrimination and violence in the country.

Sifawa, who doubles as the

Commissioner for Women and Children Affairs, said such investments are necessary to achieving equitable and sustainable development outcomes, adding that the group is contributing resources towards girl-child education.

The commissioner, who was represented by her predecessor, Hajiya Kulu Nuhu, noted that poverty and illiteracy are some of the factors inhibiting girl-child education.

She disclosed that the 2015/2016 annual schools census conducted by the ministry of education indicated the huge gap in the 2011 enrolment in primary schools across the state. ‘’Enrolment stood at 712,619 with 436,547 boys and 276,072 girls; 61 per cent to 39 per cent ratio, while transition stood at 14,066 with 11,749 boys and 2,317 girls; 83 per cent to 17 per cent ratio.’’

Sifawa said the statistics revealed that the gender gap is wide, stressing that urgent attention and action are required by all stakeholders to reverse the trend.

36

WEDNESDAY,OCTOBER 19 2016, • T H I S D AY

CITYSTRINGS Isawo Residents Cry Out for Help

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

Life has become unbearable for residents of Olorunsogo community in Ikorodu, Lagos, as water released from the Oyan dam belonging to the Ogun-Osun River Basin Development Authority has submerged their homes, reports Femi Ogbonnikan who visited the affected community

A flooded road in Isawo community

F

or residents of Olorunsogo community, Yewa, Oke-oko filling, Isawo, Ikorodu, Lagos State, it is from one form of problem to another. Two months ago, militants who were scooping petrol from the burst Nigerian National Petroleum Corporation (NNPC) pipelines and could no longer make brisk business as a result of the shutdown of the flow of the petroleum products, invaded the sleepy community and went on the prowl, abducting the residents in exchange for ransom and killing some in vengeance for the murder of their members, until armed soldiers backed with fighter jets were deployed in to enthrone sanity in the coastal community.

Three weeks ago, the residents woke up to the flow of water released from Oyan dam of the Ogun-Osun River Basin Development Authority (OORBDA) which has submerged their homes.

Consequently, residents have, in droves, begun to move out of the community which has become impassable and have decided to squat in the homes of their respective relations in the heart of Ikorodu, while others have put up theirs for sales.

Worse hit are pupils of nursery and primary schools and secondary students who no longer go to school as a result of their inability to pass through the only entry and exit route which has been flooded by the water. Residents too who own vehicles and were caught unaware, before they woke up to the water which has submerged their

community, with well over 500 buildings, have no option other than to park them at homes.

When THISDAY visited the community which is made up of three zones, a wooden canoe was being used to ferry the residents

Three weeks ago, to our utter dismay, we were woken up to the strange flow of water in our community. Almost every home has been submerged.

Those who own vehicles can't drive out and those who were caught outside the community before the waterflow have to abandon their vehicles where they are caught up

in and out at N100 rate.

Secretary of the Olorunsogo Community Development Association (CDA), Mr. Ohikhuemen Fehinti Jacob, lamented over their plight.

According to him, hardly had they settled down, shortly after the militants had besieged their community, kidnapping the residents, forcing many of the inhabitants to take refuge elsewhere, than they were shocked to be greeted with waterflow which has taken over their community.

"We are no longer safe in our community.

Between June and August when the militants besieged our community, kidnapping for ransom or killing, many of our inhabitants fled their respective homes for fear of being attacked. And since the Federal Government intervened with the active support of the Lagos State Government, normalcy has returned to the community, following the deployment of armed soldiers backed up with fighter jets and snuffed life out of the rampaging militant who had no other option than to go from one house to another and rob when the only source of their livelihood through the bursting and illegal scooping of petroleum products from the NNPC pipelines have been blocked.

“I was also a victim but with divine intervention I escaped the hammer of the militant by a whisker when they struck at midnight. They came in a dozen, forcefully broke the window pane of my house. The militant spent an hour and 30 minutes, attempting to gain entry into my home.

I was at the mercy of the OPC boys who came to my rescue. When the dust has settled and normalcy has returned with the presence of armed soldiers deployed to our community those who had fled their respective homes had to return.

"Again, three weeks ago, to our utter dismay, we were woken up to the strange flow of water in our community. Almost every home has been submerged. Those who own vehicles can't drive out and those who were caught outside the community before the waterflow have to abandon their vehicles where they are caught up, because it is only one entry and exit route that links the entire community," said Ohikhuemen, who is a proprietor of Christ Faith Schools.

In the same vein, another resident, Mr. Benjamin Balogun, expressed dismay over the sudden waterflow into the community.

According to him, “instead of the waterflow to recede, since three weeks ago that it was released, it is flowing the more, thereby causing extensive damage to household items. Now, our children and wards can't go to their various schools because the water has blocked and as well, flooding the only route linking our community.

Besides, day-in, day-out, we have been seeing dangerous animals, like aligators and big snakes which have accompanied the waterflow into our community. We are all living in fear. To be honest with you, a large number of our inhabitants have been parking out in droves because they can no longer bear the risks or consequences.

37

WEDNESDAY,OCTOBER 19 2016, • T H I S D AY

CITYSTRINGS

Houses submerged by the floods

Houses affected by the floods in Isawo community

There is a Housing Estate, Wood Island.

Virtually, all the residents have parked out.

Some have even put up their homes for sale and they have been going to the heart of Ikorodu town to rent apartments and stay. As the situation is getting worse by

Instead of the waterflow to recede, since three weeks ago that it was released, it is flowing the more, thereby causing extensive damage to household items. Now, our children and wards can't go to their various schools

Ambode...should come to the rescue of Isawo community

the day, I am also considering selling my home as well.

"But I am appealing to the state government to please come to our aid. This natural

disaster is a perennial thing. The government should come to our rescue by helping us to dredge the canal and also build a bridge across it," said Balogun.

The Vice Chairman of the CDA, Mr. Fatai Aremu, also seized the occasion to appeal to the Lagos State Government under the able leadership of Governor Akinwunmi Ambode, for urgent intervention.

"Most of the developmental projects in this community were done through communal efforts. We raised the money to bring electricity into this community and yet government officials would come and collect Land Use Charges and tenement rates. Since we have been staying in this community no single government either from the federal or state government presence or intervention has been felt here. We are all at the mercy of the token we have been contributing to develop our community.

In the entire Isawo and Agric communities which fall under Ikorodu West Local Council Development Area (LCDA), there is only one public primary school, while the rest are privately owned.

"For this reason, we are appealing to both the federal and state governments to please come to our aid," Aremu pleaded.

38

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

39

40

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

41

42

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

43

44

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

ADVERTORIAL

T H I S D AY WEDNESDAY OCTOBER 19, 2016

45

46

WEDNESDAY OCTOBER 19, 2016 T H I S D AY

T H I S D AY WEDNESDAY OCTOBER 19, 2016

47

48

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

DESPERATE MOMENT

Residents try to get a sack of rice, after a distribution was rescheduled and food stored, following Hurricane Matthew in Saint Jean du Sud...recently

For US, Obama, Mosul Campaign is Calculated Risk Iraq and the United States have launched a crucial battle to liberate the city of Mosul without determining how its volatile region will be governed once Islamic State militants are ejected, U.S. and other officials said.

U.S. officials acknowledge gaps and risks in the plan for Mosul, amid worries that defeat of Islamic State in its de facto Iraqi capital could give way to sectarian score-settling and land grabs in the country’s ethnically mixed north.

But they argue that the alternative -- waiting to first sort out Iraq’s fractious sectarian politics -- is unrealistic. With Islamic State hurting militarily, now is the time to strike, they say.

Plans for administering Mosul itself, and aiding hundreds of thousands of civilians who could flee the fighting are in place, Western and Iraqi officials say. But being left for later, they say, are fundamental issues likely to determine Iraq’s future stability. Among them are bitterly contested territorial claims in the country’s north, including the divided city of Kirkuk and the disputed borders of the Kurds’ autonomous region.

In Mosul, it remains to be seen how power will be shared among the city’s Sunni Arabs, Kurds, and minority Turkmen, Christians, Yazidis and others. “Some of those big-picture governance, territorial issues, are going to be pushed down the road,” a senior State Department official said.

Lukman Faily, Iraq’s ambassador to Washington from 2013 until earlier this year, said that while military planning is advanced, “on the politics, we still need to get our house in better shape.”

The United States has repeatedly found in recent years that the aftermath of war can prove more troublesome than the fighting itself.

It invaded Iraq in 2003 without a detailed post-war plan and with insufficient troops, contributing to the chaos that still engulfs the country more than 13 years later.

In Afghanistan, the Taliban are making gains 15 years after U.S. and allied Afghan forces ousted them from Kabul.

Iraqi government forces, backed by air and ground support from the U.S.-led coalition, on Monday launched the initial stages of the

offensive to retake Mosul. The assault has been in preparation since July. Fighting is expected to take weeks, if not months, as government forces, Sunni tribal fighters and Kurdish Peshmerga first encircle the city of more than 1 million and then attempt to oust between 4,000 and 8,000 Islamic State militants.

“If we try to solve everything before Mosul, Daesh will never get out of Mosul. And this is really a war of momentum,” Brett McGurk, U.S. President Barack Obama’s counter-Islamic State envoy, told reporters this month.

Daesh is a derogatory Arabic term for Islamic State.

At stake for Obama is his hoped-for legacy of seizing back as much territory as he can from the jihadists before he leaves office in January. The launch of the Mosul campaign comes three weeks before the U.S. presidential election on November 8.

“There is a desire to make as much progress against Daesh as possible,” said a Western diplomat speaking on condition of anonymity.

The decision to back Iraqi Prime Minister Haider al-Abadi’s move on Mosul, which involves a force of more than 30,000 fighters, has support in key quarters of Obama’s administration.

But some U.S. defense and intelligence officials question whether Iraq’s rebuilt army is ready. And they say they worry that the aftermath of a messy battle could be a political nightmare as Sunnis, Kurds and Shiites each try to hold parts of the city they have helped liberate.

“In some circles around Washington, they want ... things completely in place before the military campaign starts,” said an administration official, speaking before Abadi’s announcement of the start of the offensive early on Monday.

“Taking Iraqis’ focus away from the military fight to resolve all the longstanding political fights will only achieve a loss of momentum against ISIL,” the official said, using another acronym for the group.

Other spoilers are possible, officials acknowledge. Turkey, which has longstanding cultural and historic ties to Mosul, says a force it has trained in northern

Iraq is now participating in the fight. Powerful Shi’ite militias also want a role, raising fears of sectarian clashes in majority Sunni Mosul.

In weeks of intense regional diplomacy, senior U.S. envoys drove home the message that all forces must be under Abadi’s command, the officials said. Whether the message sticks remains to be seen.

While bigger issues will be left for later, plans have been laid for governing and stabilizing Mosul in the near-term after the fighting subsides, the officials said. The plan calls for the governor of Mosul’s Nineveh province, Nawfal alAgoub, to be restored and the city divided into sub-districts with local mayors for each. Agoub will govern along with a senior representative from Baghdad and from Erbil, capital of Iraq’s autonomous Kurdish region.

Screening procedures for civilians fleeing Mosul have been enhanced, in an effort to learn from the battle for Fallujah, in Anbar province.

There, Sunni men and boys were held, tortured and in some cases killed by Shi’ite militia members, who had erected makeshift checkpoints.

U.S. and Iraqi officials are working to ensure displaced civilians take safe routes out of the city, and that checkpoints are overseen by provincial authorities and monitored by international non-government groups.

They are also hoping that Mosul’s populace stay in their homes if possible, unlike in the cities of Tikrit, Fallujah and Ramadi, which virtually emptied out as they were being freed from Islamic State’s grip.

The United Nations has said the Mosul battle could leave as many as 1 million people homeless. “There’s a chance, maybe a significant chance, that it’s going to be fewer people than we expect, but of course it would be dangerous to assume that,” the senior State Department official said.

The Western diplomat acknowledged that moving now against Islamic State’s stronghold in Mosul involves a balancing act. “There’s a certain amount where you can prepare as much as possible, but once you sort of hit the ground and things actually start happening, you actually have to be quite flexible and ready,” the diplomat said.

49

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

INTERNATIONAL

Secret Afghan Peace Talks Held in Qatar Two Taliban officials said yesterday that the militant movement held informal, secret peace talks with the Afghan government earlier this month in Qatar, but a

Taliban spokesman denied they took place. The Afghan Taliban officials, based in Qatar and the United Arab Emirates, speaking on condition of anonymity, said

CNN Poll of Polls: Clinton Leads Trump by 8 Points Democratic presidential nominee, Hillary Clinton, is leading her Republican rival, Donald Trump, by eight points among likely voters, according to the most recent CNN Poll of Polls, released Monday.

The poll average shows Clinton has 47% of support from likely voters, Trump at 39% support, Libertarian candidate Gary Johnson with 7% and Green Party nominee Jill Stein getting 2%.

The Poll of Polls averages result

from the four most recent publiclyreleased national polls that meets CNN’s standards for publication.

All of the polls included the fourway match-ups with the third party candidates. The poll of polls does not have a margin of sampling error. All four of the polls were taken after release on October 7 of a 2005 “Access Hollywood” tape showing Donald Trump making lewd comments about women.

the talks had led to very little in terms of progress.

They added that U.S. officials were part of the process, although they did not specify whether they were directly involved in talks. Afghan and U.S. officials demanded that the Taliban declared a ceasefire, laid down arms and started formal peace talks, said the UAE-based official.

In response, he said, Taliban officials demanded that the group be officially recognized as a political movement, its leaders’ names be removed from a UN blacklist and all prisoners be released. “Like our previous meetings, it was a waste of time and resources, as we could not achieve anything from the meeting,” said the UAE-based official.

A spokesman at the U.S.

embassy in Kabul declined to comment on the issue, and referred questions to Washington.

Taliban spokesman Zabihullah Mujahid dismissed reports of the meeting, saying they were propaganda aimed at creating divisions within the insurgency.

He was responding to an article earlier on Tuesday by Britain’s Guardian newspaper that cited anonymous sources saying the Taliban had held two rounds of discussions, some of which included U.S. officials.

According to the Guardian, the officials said the talks were also attended by Mullah Abdul Manan, the brother of the Afghan Taliban founder Mullah Mohammad Omar, who died in 2013.

A spokesman for Afghan President Ashraf Ghani would not confirm or deny any recent

talks in Qatar when asked by Reuters, but added: “We will use all possible ways in order to reach a lasting peace in the country”.

Previous Pakistan-brokered peace talks have yielded little progress, and ground to a halt when news of the death of Mullah Omar was confirmed in 2015. Efforts to revive the talks collapsed when the United States killed former Taliban leader Mullah Akhtar Mansour in a drone strike in Pakistan in May. Under new Taliban leader Haibatullah Akhundzada, fighting has raged across Afghanistan, with the Taliban attacking the northern city of Kunduz and threatening Helmand’s provincial capital Lashkar Gah in the south. No Pakistani official took part in

the latest talks, according to the Guardian.

Relations between the governments in Kabul and Islamabad have deteriorated over the past year, with Afghanistan and the United States accusing Pakistan of harboring the Taliban and not doing enough to bring the group to the negotiating table.

Pakistan denies providing the Taliban a safe haven. The Taliban have gathered strength over the past two years, carrying out major attacks in Kabul and taking over large swathes of territory for the first time since being ousted by a U.S.-led military intervention in 2001. The United States has continued to provide air power and other military support to Kabul, preventing the Taliban from making more ground.

50

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

BUSINESS/MONEYGUIDE

IMF Affirms Nigeria as Africa’s Biggest Economy Nigeria has been affirmed by the International Monetary Fund (IMF) as the biggest economy in Africa — ahead of South Africa and Egypt. In August 2016, Nigeria was reported to have lost its spot as Africa’s biggest economy to South Africa, following the recalculation of the country’s gross domestic product (GDP).

“A recalculation using current exchange rates put South Africa on top because the rand has strengthened against the dollar,” BBC had said in August.

“Based on gross domestic product at the end of 2015 published by the International Monetary Fund, the size of South Africa’s economy is $301

billion at the rand’s current exchange rate, while Nigeria’s GDP is $296 billion,” Bloomberg had also said.

But according to TheCable, latest estimates from the IMF however put Nigeria’s GDP at $415.080 billion, from $493.831 billion at the end of 2015. The IMF World Economic Outlook for October 2016 puts South Africa’s GDP at $280.367 billion, from $314.732 billion a year earlier. Egypt’s 2016 data was reported as not available, but its 2015 size remained at $330.159 while that of Algeria, one of the largest economies on the continent, was put at $168.318 billion. The United States, China and Japan maintained their

spots as the largest economies in the world, with a GDP of $18.561 trillion, $11.391 trillion and $4.73 trillion respectively.

These countries are being trailed

by Germany, United Kingdom and France in that order.

The Managing Director of the IMF, Christine Lagarde, said at the just concluded World Bank/ IMF meetings that global growth had been too slow for too long.

“We continue to face the problem of global growth being too low for too long, benefiting too few,” she said after the world economic outlook was published. The world expects an economic growth of 3.1 percent in 2016, reviewed from 3.4 percent.

Monitor Your Foreign Currency Position Closely, CBN Directs Bank Ugo Aliogo In view of the forex scarcity in the economy, the Central Bank of Nigeria (CBN) has advised commercial banks to monitor their foreign currency positions more closely.

The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins, who gave this advice, pointed out that there have been increased volatility in the forex market. Speaking at the CBN/ FITC 2016 Edition of Continuous Education Programme (CEP) for Directors of Banks and Other Financial Institutions, with the theme: “Effective Board Leadership; Sustaining a Culture of Compliance and Growth,” in Lagos yesterday, Martins also

reaffirmed the commitment of the central bank to continue promoting compliance and safety in the financial sector.

She added: “Following the depreciation of naira as fallout of the introduction of the flexible exchange regime, the foreign currency exposures of banks has increased in naira terms. This has increased the loan repayment obligation of borrowers and threatened their capacities to meet contracted loan repayments. Banks may therefore, need to restrict extending foreign currency denominated loans to customers that do not earn FX. “Following the deficiencies in financial regulations revealed by the 2007/2008 financial crisis,

the committee prepared the Basel III regulatory framework between 2009– 2011. The regulation specifically covers bank capital adequacy, stress testing, market and liquidity risks, among others. It is worthy of note that in the process of implementing the requirements of Basel II, the CBN had implemented some aspects of the requirements of Basel III. This proactive step was aimed at ensuring the stability of the financial system. The requirements of the Basel III framework are grouped under four areas such as regulatory capital, liquidity coverage ratio, net stable funding ratio (NSFR) and leverage ratio.”

BoI, Benue Govt Seal N2bn MSMEs Financing Agreement James Emejo in Abuja The Bank of Industry (Bol) and the Benue State government have launched a N2billion-Micro Small and Medium Enterprises (MSMEs) development fund to boost the entrepreneurial potentials of citizens in the state.

Under the financing model, both parties will contribute N1billion each for on lending to mainly businesses that have high employment generating potentials and value addition to local raw materials.

Benue State Governor, Dr. Samuel Ortom expressed

satisfaction over the initiative and commended leadership of the bank under the acting Managing Director/Chief Executive, Mr. Waheed Olagunju for his foresight and remarkable strides since assuming office.

He urged President Muhammadu Buhari to appoint the acting BoI boss as substantive MD, noting that having worked in the bank for over two decades, he is more than qualified to lead the develop finance institution.

Nevertheless, Ortom appealed to entrepreneurs in the state to take advantage of the

loan facilities, insisting that it would not be disbursed along party lines.

He said only those who have viable business proposals in the areas where the state currently has comparative advantage would be given the financing support.

Meanwhile, Olagunju said the intention in the state brought the volume of MSME Funds being managed on behalf of 21 state governments to N18.3 billion.

Four out of the 21 states that had enrolled in the scheme, joined in the last eight months when the MD took over office.

Overnight Lending Rate Rises onTight Liquidity Naira appreciates to N453/$ on parallel market Nigeria’s overnight interbank rate was quoted at a record high of 150 per cent on Tuesday, two days after lenders placed funds with the central bank to participate in last Friday’s currency forward auction, traders said. Reuters revealed that few deals were done on Tuesday due to a shortage of naira on the money market, with lenders loath to place funds among themselves until the result of Friday’s currency auction was published. The central bank last week held a two-month dollar forward auction to clear a backlog of demand

from airlines, manufacturers and other companies, as the currency crisis deepened. It later directed lenders to re-submit bids again on Monday, traders said. Traders said rates spiked because lenders were barred from central bank’s repo window before any currency auction and they had naira funds locked away with the regulator on the day of the auction to pay for the dollars which they expect to receive in two months’ time. The central bank was yet to announce result of the auction.

“Most banks are not quoting

rates because they are still waiting for the result of the FX auction,” one trader said.

The regulator has been tightening liquidity and intervening directly with dollar sales to commercial lenders to support the ailing naira, hit by the fall in oil prices, Nigeria’s economic mainstay. Overnight rates closed at 128 per cent on Monday after they opened at 100 percent, up from 14 per cent on Thursday.

The money market ended with no deals on Friday as lenders held onto naira to be able to participate at the auction.

CBN building

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, 17 OCT 2016 The price of OPEC basket of fourteen crudes stood at $48.22 a barrel on Monday, compared with $48.63 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

51

T H I S D AY • WEDNESDAY OCTOBER 19, 2016

Nigeria’s top 50 stocks based on market fundamentals

18-Oct-16

17-Oct-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

183.00

183.00

0.00%

3,118,412,855,115.00

9.56

19.14

5.76

4.37%

4.58

02 Nigerian Breweries Plc

145.00

144.05

0.66%

1,149,719,628,760.00

4.50

32.25

3.84

2.48%

7.06

03 Guaranty Trust Bank Plc

23.35

23.50

-0.64%

687,218,034,880.40

4.20

5.56

1.92

7.58%

1.52

800.00

805.57

-0.69%

634,125,001,600.00

19.41

41.22

3.82

3.63%

18.02

14.75

14.70

0.34%

463,098,283,343.50

3.10

4.76

1.11

12.20%

0.75

361.00

380.00

-5.00%

199,745,022,993.00 -14.43

-25.02

2.14

4.41%

0.53

07 Lafarge Africa Plc

42.70

42.37

0.78%

194,494,307,287.00

-6.71

-6.36

0.87

7.03%

1.39

08 Ecobank Transnational Incorporated

10.53

10.81

-2.59%

193,220,774,293.95

0.23

45.83

0.36

5.89%

0.32

137.87

137.87

0.00%

179,573,069,670.61

3.31

41.70

1.17

2.50%

4.16

10 Unilever Nigeria Plc

45.90

45.90

0.00%

173,653,297,875.00

0.46

99.26

2.85

0.11%

19.49

11 Stanbic IBTC Holdings Plc

16.50

16.50

0.00%

165,000,000,000.00

2.04

8.10

1.40

0.61%

1.47

12 Presco Plc

40.25

40.25

0.00%

159,811,701,061.25

0.03 1,376.55

2.24

3.23%

3.82

13 Access Bank Plc

5.52

5.60

-1.43%

159,682,403,403.12

2.56

2.16

0.47

9.96%

0.37

14 United Bank for Africa Plc

4.22

4.21

0.24%

153,099,601,078.84

1.75

2.42

0.46

14.22%

0.35

15 Guinness Nig Plc

79.11

82.29

-3.86%

119,130,814,552.68

-1.34

-59.10

1.17

4.05%

2.86

16 FBN Holdings Plc

3.01

2.95

2.03%

108,044,831,303.92

0.30

9.87

0.22

4.98%

0.18

17 Total Nigeria Plc

303.97

289.50

5.00%

103,204,452,792.89

31.13

9.76

0.43

4.61%

4.89

18 7-Up Bottling Comp. Plc

159.90

159.90

0.00%

102,430,399,043.70

3.75

42.66

1.15

1.38%

3.97

6.50

6.50

0.00%

78,000,000,000.00

1.05

6.19

0.65

7.69%

1.31

186.00

186.00

0.00%

67,070,718,732.00

17.69

10.51

0.81

3.87%

3.90

19.99

19.99

0.00%

65,852,043,107.20

0.17

114.59

2.64

1.25%

5.34

5.10

5.14

-0.78%

61,376,556,359.40

-3.46

-1.47

0.33

14.71%

0.44

23 Julius Berger Nig. Plc

40.00

40.00

0.00%

52,800,000,000.00

0.24

165.22

0.51

3.75%

2.35

24 Flour Mills Nig. Plc

19.77

20.20

-2.13%

51,881,169,186.99

6.81

2.90

0.14

10.12%

0.52

1.00

1.02

-1.96%

38,720,997,425.00

-0.37

-2.68

0.86

0.00%

0.51

26 Okomu Oil Palm Plc

40.50

40.11

0.97%

38,633,355,000.00

4.60

8.81

3.14

0.25%

2.48

27 U A C N Plc

19.40

20.40

-4.90%

37,264,769,107.80

2.44

7.95

0.52

5.15%

0.50

1.03

1.03

0.00%

29,654,130,669.78

0.31

3.34

0.28

8.74%

0.35

29 Cadbury Nigeria Plc

14.15

14.89

-4.97%

26,576,558,866.00

0.83

17.13

0.96

9.19%

2.14

30 Diamond Bank Plc

1.14

1.20

-5.00%

26,402,843,423.52

0.11

10.33

0.13

0.00%

0.11

31 Fidelity Bank Plc

0.85

0.88

-3.41%

24,618,197,838.20

0.39

2.18

0.17

18.82%

0.13

32 Wema Bank Plc

0.63

0.66

-4.55%

24,301,913,631.03

0.06

9.99

0.49

0.00%

0.52

33 Custodian And Allied Insurance Plc

4.00

4.00

0.00%

23,527,456,780.00

0.76

5.26

0.70

3.50%

0.84

33.25

33.25

0.00%

23,275,000,000.00

2.36

14.10

3.35

3.46%

15.94

35 FCMB Group Plc

1.12

1.14

-1.75%

22,179,036,074.72

0.61

1.83

0.14

8.93%

0.12

36 National Salt Co. Nig. Plc

8.00

8.01

-0.12%

21,195,507,024.00

0.89

9.03

1.17

6.88%

3.07

37 Mansard Insurance Plc

2.00

2.00

0.00%

21,000,000,000.00

0.27

7.36

1.09

2.50%

0.99

38 Glaxo Smithkline Consumer Nig. Plc

16.61

17.48

-4.98%

19,863,508,465.68

-2.54

-6.54

0.68

1.81%

2.18

39 PZ Cussons Nigeria Plc

18.40

18.00

2.22%

18,400,000,000.00

4.14

4.44

1.39

0.54%

0.55

40 Continental Reinsurance Plc

1.00

1.00

0.00%

10,372,744,312.00

0.33

3.04

0.50

12.00%

0.54

41 Honeywell Flour Mill Plc

1.26

1.24

1.61%

9,992,049,049.08

-0.40

-3.12

0.21

12.70%

0.61

42 Skye Bank Plc

0.64

0.63

1.59%

8,883,392,902.40

-2.93

-0.22

0.05

46.88%

0.09

43 Unity Bank Plc

0.68

0.68

0.00%

7,948,749,800.56

0.54

1.25

0.12

0.00%

0.09

44 Cement Co. Of North.Nig. Plc

5.50

5.50

0.00%

6,911,727,713.00

0.44

12.42

0.62

1.82%

0.64

45 Wapic Insurance Plc

0.50

0.52

-3.85%

6,691,369,126.00

0.11

4.62

0.88

6.00%

0.43

46 UACN Property Development Co. Limited

3.41

3.41

0.00%

5,860,937,482.95

-0.05

-65.40

1.74

20.53%

0.16

47 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

48 Nigerian Aviation Handling Company Plc

3.05

3.05

0.00%

4,953,867,187.50

0.15

19.78

0.62

6.56%

0.80

49 AIICO Insurance Plc

0.59

0.60

-1.67%

4,088,820,643.20

0.26

2.26

0.13

8.47%

0.43

50 Fidson Healthcare Plc

1.59

1.59

0.00%

2,385,000,000.00

0.31

5.19

0.35

3.14%

0.37

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd

09 Forte Oil Plc.

19 Dangote Sugar Refinery Plc 20 Mobil Oil Nig Plc 21 International Breweries Plc 22 Oando Plc

25 Transnational Corporation Of Nigeria Plc

28 Sterling Bank Plc

34 Cap Plc

TOTAL

8,910,011,765,164.87

TOTAL MARKET CAP

9,477,750,448,395.30

% OF MARKET CAP Annotation - MA* = Simple Moving Average

94.01%

Table 1 Market Statistics Mkt Indicators

Open 17-Oct-16

NSE All Share Index NSE Market Cap (N'Trillion)

27,634.99 9.49

27,593.29 9.48

-0.15 -0.15

114.73 8.93

114.43 8.91

-0.26 -0.26

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Close 18-Oct-16

Change %

Table 3 Top 5 Gainers Stock

Open Close Change 17-Oct-16 18-Oct-16 %

Total Nigeria Plc PZ Cussons Nigeria Plc FBN Holdings Plc Honeywell Flour Mill Plc Skye Bank Plc

289.50 18.00 2.95 1.24 0.63

303.97 18.40 3.01 1.26 0.64

5.00 2.22 2.03 1.61 1.59

Table 4 Top 5 Losers Stock

Open Close Change 17-Oct-16 18-Oct-16 %

Diamond Bank Plc Seplat Petroleum Dev. Co. Ltd Glaxo Smithkline Consumer Nig. Plc Cadbury Nigeria Plc U A C N Plc

1.20 380.00 17.48

1.14 361.00 16.61

-5.00 -5.00 -4.98

14.89 20.40

14.15 19.40

-4.97 -4.90

NSE ASI slides further by 0.15% Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, October 18th, 2016 ended on a bearish note as the stock market closed red today. This was further highlighted by negative performances from the NSE Sub sectors: Banking, Insurance, Oil & Gas and Consumer Goods. Trading activities increased in volume as 130.52 million shares worth of N1.41 billion in 1,630 deals exchanged hands today. This is an increase from the 255.81 million shares worth of N778 million in 2,588 deals which exchanged on Monday. Topping in volume terms were Ecobank Transnational Incorporated, FBN Holdings Plc and United Bank for Africa Plc while Ecobank Transnational Incorporated and Total Nigeria Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with 0.15% (-41.70) decrease to close at 27,593.29 from 27,634.99 the previous trading day. Market Capitalization depreciated in tandem to N9.48 trillion from N9.49 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.26% to close at 114.43 from 114.73 recorded at the end of the previous trading day, while its market capitalization stood at 8.91 trillion from 8.93 trillion of the previous trading day.

A total number of 13 stocks gained on the bourse today while 27 stocks declined, 59 leaving stocks unchanged. Total Nigeria Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 6.45% to close at N303.97 per share. It was followed by PZ Cussons Nigeria Plc with a gain of 2.22% to close at N18.40 per share. Others on the gainers list include: FBN Holdings Plc, Honeywell Flour Mill Plc and Skye Bank Plc; while on the decliners’ list, Diamond Bank Plc led with a loss of 5.00% to close at N1.14 per share. It was followed

by Seplat Petroleum Dev. Co. Ltd with a loss of 5.00% to close at N361.00 per share. Others on the decliners list include: GlaxoSmithkline Consumer Nig. Plc, Cadbury Nigeria Plc and UACN 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

52

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

MARKET NEWS

NSE Tasks Stakeholders to Exploit Market Data for Investment Decisions

Goddy Egene and Nosa Alekhuogie

The Chief Executive Officer of Nigerian Stock Exchange (NSE), Mr. Oscar Onyema yesterday urged capital market participants and investors to exploit the NSE data for smart investment decisions.

Onyema made the call while speaking at the NSE market data workshop in Lagos with the theme: “Understanding

Market Data for Savvy Investing and Wealth Creation.”

According to him, domestic investors, and indeed foreign portfolio investors, require an elevated level of insight in order to discern between great investments and lame investments, especially during a challenging down cycle.

“That is why this workshop is designed specifically to provide capital market participants with sufficient knowledge about

T H E MAIN BOARD

DEALS

MARKET PRICE

exploiting NSE market data for smart investment decisions,” he said.

Onyema explained that when they talk about market data, they refer to the pre and post trade-related data for the financial instruments traded on the NSE. “Our market data informs traders, investors, media and others in our market on the quotations, latest price, and historical trends for the

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

equities, fixed-income, and exchange traded funds (ETF) products that are traded on our platform. This information is not only used in real time to make instantaneous buy and sell decisions, but the historical market data is used to make price projections, as well as calculate market risk on investment portfolios,” he said.

He noted that for exchanges, delivery of market data to users

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

is resource heavy and requires specialised technologies designed to handle the collection, processing and dissemination of massive data streams.

At the NSE, this effort is underpinned by our ‘next generation’ trading engine, X-GEN, which was built in collaboration with Nasdaq in 2013. It is therefore very pleasant that this workshop is coinciding with the 3rd anniversary of X-GEN.

X-GEN is not only built to trade a wide range of securities, it is extendable to multiple interfaces for the consumption of market data. Additionally, it is FIX protocol version 5 enabled, improving market transparency and providing wide market access. It is these systems that we rely on daily to deliver approximately 2.5GB worth of data to our various domestic and global market data consumers.

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

53

wednesdAY, october 19, 2016 • T H I S D AY

MARKET NEWS

SEC Warns Investors against Illegal Capital Market Operator Goddy Egene The Securities and Exchange Commission (SEC) yesterday warned members of the investing public to stay away from Ruby Gold Ventures (Crypto Currency Investment), saying the company is operating illegally in the nation’s capital market.

SEC it did not register Ruby Gold Ventures to perform any function market, therefore its operations/activities in the market are therefore illegal.

“In view of the above, the investing public is hereby warned to stop and desist from dealing with the company in any capital market related business. Please note that any person who does capital market related business with the company and its promoters after this publication does so at his/her own risk,” SEC said.

This development is following a similar warning given by SEC against a Ponzi scheme, MMM Federal Republic of Nigeria,’ that is asking investors to

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

invest, promising them a monthly return of 30 per cent.

SEC had last month warned investors to stay away from online fraudsters, who it said carries out their illegitimate business via Nigeria.mmm. net portal and are promising investors a monthly investment return of 30 per cent.

The regulator noted that the venture has no tangible business model as returns would be paid from other people’s invested funds making it a Ponzi scheme. SEC explained that

floor of the Nigerian Stock Exchange.

A REIT (Real Estate Investment Trust) is an investment vehicle that allows both small and large investors to part-own real estate ventures (eg.

Offices, Houses, Hospitals) in proportion to their investments. The assets are divided into shares that are traded on the Nigerian Stock Exchange.

GUIDE TO DATA: Date: All fund prices are quoted in Naira as at 17-Oct-2016, unless otherwise stated.

it is a fraudulent investing scam promising high rates of return with little risk to investors that generates returns for older investors by acquiring new investors.

Worried by the gradual return of the Ponzi funds, some stakeholders had called on the SEC to collaborate with law enforcement agencies and other relevant bodies to stop the activities of online fraudsters who float unregistered funds to defraud investors.

For instance, an investor, Mr.

Moses Igbrude of Independent Shareholders Association of Nigeria (ISAN) told THISDAY that SEC should work with law enforcement agencies and the Nigerian Communication Commission (NCC) and track those behind the fund and bring them to book before gullible investor fall victim.

“It is a good thing SEC has alerted members of the investing public to stay away from the illegal fund managers but some gullible investors can still be attracted by the

unrealistic return they are being promised. At the end of the day, the regulators will still get the blame. I therefore think SEC should work with other organisations, track down those behind the MMM and bring them to book,” Igbrude said.

A lawyer and stockbroker, Mr. Ayo Oguntayo said he was surprised that some investors are still patronising Ponzi schemes given the bad experiences and losses suffered in the past by many investors.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Afrinvest Equity Fund 123.90 Nigeria International Debt Fund 217.18 ALTERNATIVE CAPITAL PARTNERS LTD Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price ACAP Canary Growth Fund 0.67 AIICO CAPITAL LTD Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price AIICO Money Market Fund ARM INVESTMENT MANAGERS LTD Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name ARM Aggressive Growth Fund ARM Discovery Fund ARM Ethical Fund ARM Money Market Fund AXA MANSARD INVESTMENTS LIMITED Web: www.axamansard.com; Tel: +2341-4488482 Fund Name AXA Mansard Equity Income Fund AXA Mansard Money Market Fund CHAPELHILL DENHAM MANAGEMENT LTD Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Nigeria Global Investment Fund Paramount Equity Fund Women's Investment Fund FBN CAPITAL ASSET MANAGEMENT LTD Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name FBN Fixed Income Fund FBN Heritage Fund FBN Money Market Fund FBN Nigeria Eurobond (USD) Fund - Institutional FBN Nigeria Eurobond (USD) Fund - Retail FBN Nigeria Smart Beta Equity Fund FIRST CITY ASSET MANAGEMENT LTD Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Legacy Equity Fund Legacy Short Maturity (NGN) Fund FSDH ASSET MANAGEMENT LTD Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Coral Growth Fund

100.00

aaml@afrinvest.com Offer Price Yield / T-Rtn 124.54 10.90% 218.05 8.49% info@acapng.com Offer Price Yield / T-Rtn 0.68 9.46% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

15.29%

enquiries@arminvestmentcenter.com Bid Price 12.72 292.40 22.65

Offer Price 13.10 301.22 23.33

Yield / T-Rtn 4.35% 4.62% 2.71%

1.00

1.00

12.43%

investmentcare@axamansard.com Bid Price 100.86

Offer Price 101.49

Yield / T-Rtn 1.17%

1.00 1.00 11.15% investmentmanagement@chapelhilldenham.com Bid Price 2.09 9.33

Offer Price 2.14 9.57

Yield / T-Rtn 2.67% -5.31%

82.64

84.76

1.89%

invest@fbnquest.com Bid Price 1,064.68 114.36 100.00 $101.99 $101.62 111.40

Offer Price 1,065.74 114.86 100.00 $102.09 $101.72

Yield / T-Rtn -1.61% 5.16% 10.80% 2.04% 1.67%

112.91

12.16%

fcamhelpdesk@fcmb.com Bid Price 0.93 2.51

Offer Price Yield / T-Rtn 0.94 2.75% 2.51 7.74% coralfunds@fsdhgroup.com

Bid Price 2,212.11

Offer Price 2,238.68

Coral Income Fund 2,042.99 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price

Yield / T-Rtn 1.70%

2,042.99 8.00% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

1.00

11.05%

Vantage Balanced Fund

1.64

1.65

0.36%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 0.99 1.01 11.52% Lotus Halal Fixed Income Fund 987.01 987.01 -1.30% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: www.meristemwealth.com ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.79 9.88 0.12% Meristem Money Market Fund 10.00 10.00 13.41% PAC ASSET MANAGEMENT LTD info@pacassetmanagement.com Web: www.pacassetmanagement.com/mutualfunds; Tel: +234 1 271 8632 Fund Name Bid Price Offer Price Yield / T-Rtn PACAM Balanced Fund 1.03 1.04 4.25% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 106.46 107.20 4.50% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.22 1.22 7.90% STANBIC IBTC ASSET MANAGEMENT LTD assetmanagement@stanbicibtc.com Web: www.stanbicibtcassetmanagement.com; Tel: +234 1 280 1266; 0700 MUTUALFUNDS Fund Name Bid Price Offer Price Yield / T-Rtn Stanbic IBTC Balanced Fund 1,802.32 1,812.87 7.33% Stanbic IBTC Bond Fund 151.45 151.45 2.97% Stanbic IBTC Ethical Fund 0.79 0.80 6.00% Stanbic IBTC Guaranteed Investment Fund 180.16 180.16 6.17% Stanbic IBTC Iman Fund 134.64 136.25 -0.53% Stanbic IBTC Money Market Fund 100.00 100.00 15.32% Stanbic IBTC Nigerian Equity Fund 7,662.30 7,764.47 6.61% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.15 1.16 8.50% United Capital Bond Fund 1.25 1.25 16.32% United Capital Equity Fund 0.74 0.75 5.17% United Capital Money Market Fund 1.00 1.00 13.00% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 9.73 9.90 1.94% Zenith Ethical Fund 11.25 11.35 -1.83% Zenith Income Fund 16.57 16.57 3.29%

REITS

NAV Per Share

Yield / T-Rtn

11.43 122.32

2.69% 5.58%

Bid Price

Offer Price

Yield / T-Rtn

8.85 78.22

8.95 79.70

-7.58% -6.01%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.70 7.37 12.60 16.64 -

2.74 7.45 12.74 16.84 -

16.74% 15.24% 0.56% -13.31% -

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

54

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

NEWSEXTRA

Wike: FG Working Relentlessly to Kill PDP Ernest Chinwo in Port Harcourt Rivers State Governor, Nyesom Wike, has accused the federal government of working relentlessly to kill the Peoples Democratic Party (PDP).

He however expressed optimism that in the long run, the PDP would survive while the All Progressives Congress (APC) which controls the federal government will die politically.

He further stated that deliberate efforts by agents of the

Nigeria Union Confirms Two Nigerians Killed in S’Africa The Nigeria Union in Pretoria has confirmed that two Nigerians residing in South Africa have been killed this month.

The Secretary of the union, Mr. Adetola Olubajo, told the News Agency of Nigeria (NAN) in Pretoria yesterday that the first victim, one Adeniyi Olumoko, a petty trader, was stabbed to death on October 7.

Olubajo said Olumoko, 37, an indigene of Ogun State, was killed at Marabastard in Pretoria by a South African, who forcefully took the victim’s goods without paying.

He cited witnesses as saying that Olumoko was left bleeding for up to five hours because para-medics could not show up to attend to him.

The secretary said the killing had been reported to the Central Police Station in Pretoria and the Nigerian mission in South Africa.

Olubajo said another Nigerian, Christian Onwukaike, was also shot dead by assailants at Empangeni in the North Coast area of Kwazulu Natal on October16.

He said reports from the union’s chapter in the province

indicated that the assailants shot the victim from a moving car.

The scribe explained that Onwukaike, a native of Awgbu in Orumba North Local Government Area of Anambra State, drove himself to the hospital after the shooting and eventually collapsed and died.

“The Nigeria Union is calling on the Nigerian mission to demand results of investigations of all murder cases involving Nigerian victims from the South African authorities,” he pleaded.

Olubajo said the union was not happy that all murder cases involving Nigerians in South Africa have never been resolved.

“We recommend that the consulate officials visit the area immediately in the company of some members of the national and provincial executives of the Nigeria Union to speak with the police and the Nigerian community,” he said.

A source close to the Nigerian consulate in South Africa told NAN that the report of the incidents had been received at the consulate.

House to Investigate Alleged Abduction, Marriage of 14-yearold in Katsina Damilola Oyedele in Abuja

The House of Representatives has mandated its Committees on Women Affairs and Human Rights to investigate the report of an alleged abduction and forceful marriage of 14-year-old Miss Habiba Isa in Katsina.

Media reports in the last few days indicated that Isa was allegedly forcefully converted to Islam from Christianity and forcefully married to an aide in the Emir of Katsina’s palace.

The matter was brought before the green chamber by Hon. Nnanna Igbokwe who noted that the alleged marriage was without the consent of Isa’s parents.

He added that the girl’s parents have been threatened

and harassed over their request for the release of their daughter.

“Section 21 of the Child’s Rights Act stipulates that no person shall remove or take a child out of the custody or protection of his father or mother or guardian against the will of the father, mother or guardian,” the lawmaker said.

The Act, he added also prohibits marriage to a minor “and any marriage so contracted in null and void and of no effect whatsoever.”

Igbokwe expressed worry that the trend of forceful abductions of minors for marriage may continue if the government does not take action.

The matter was referred to the committee without subjection to debate.

Pa Shoga Passes on Pa Fabian Shoga is dead. He died after a brief illness at the age of 98 years. According to a statement by the family, the funeral arrangements will begin with the Christian wake-keep at 5p.m, 20 October, at the premises of St. Rita’s Catholic Church, Arometa, Eleyele Road, Ibadan, Oyo State and simultaneously at his Odo-Arawa residence, Odolewu-Itamapako, via Ijebu-Ode, Ogun State. The statement added: “Funeral mass

will be held at St. Rita’s Catholic Church in Ibadan from 9a.m on 21, October, while his remains will thereafter be moved in a motorcade to Odo-Arawa, through Ijebu-Ode for interment. Then entertainment of guests will commence thereafter at his residence.” Pa Shoga is survived by children, Mrs. Oyeyemi Ayodele Ososami and Mrs. Oyefolake Lambert-Gorwyn, nephews, nieces, grandchildren and great grandchildren

federal government to stagnate development in Rivers State would not succeed.

The governor spoke yesterday at the Government House, Port Harcourt, when he granted audience to the leadership of Non -Indigenes Without Borders chaired by Hon. Emeka Onowu.

He said: “We have a sad situation where everything is being done at the federal level to kill the PDP. However, in the end, it is their own political party that will die.”

The governor expressed dissatisfaction with the repeated plots to rig the forthcoming rerun elections in the state, noting that nobody would be allowed to steal the mandate of Rivers people, no matter the deployment of pliant

security agencies.

“They are repeatedly shifting the date of the rerun elections so that they can have a convenient time to rig. Nobody should be scared of their plan to use DSS and police to rig the rerun elections.

“The policeman that is carrying gun, how many people can he kill? In Turkey where they resisted the army, are they not human beings? Nobody will circumvent the mandate of the Rivers people,” Wike said.

He said as an opposition state, the people of Rivers State are aware that they would have battles for survival from those who control the federal level.

The governor explained that his action of October 8,

2016 was not geared towards stopping the Department of State Services (DSS) from arresting a judge, but an action aimed at ensuring that the right process was followed.

In his address, National Leader of the Non-Indigenes Without Borders, Onowu, lauded Wike for providing leadership that has helped to shape democracy in the country.

He commended the governor for being a detribalised governor who caters for all interest and ethnic groups.

Onowu said contrary to rumours by the opposition in the state that the governor would drive away the non-indigenes after winning the 2015 governorship election, Wike has offered

them critical appointments and integrated them in key empowerment programmes.

He said: “They claimed during the campaign that Wike would chase away non-indigenes from the state. Today, the truth is out and their false propaganda has been exposed.

“Non-indigenes have never had it so good in Rivers State.

Today, we have a Chief Judge, a commissioner, Caretaker Committee members, senior aides to the governor and our members have benefitted from the empowerment programme to traders and artisans.”

He said the Wike administration has demonstrated fairness and love in all her dealings with non-indigenes since 2015.

YOU HAVE ROLE TO PLAY

L-R: Deputy Senate Leader, Senator Bala Na’allah; Chairman, House Committee on Anti-Corruption, Babajide Akinloye; Senate President, Dr. Bukola Saraki; and Vice-President, Prof. Yemi Osibanjo, during a two-day national conference on the role of the legislature in the fight against corruption in Abuja...yesterday.

Julius Ato

Proclaim Conduct of 2018 Census Now, Senate Tasks Buhari Upper chamber confirms Eko, Augie as S’Court judges Omololu Ogunmade in Abuja The Senate yesterday told President Muhammadu Buhari to issue a proclamation for the conduct of “population and housing census in 2018.”

The parliament also appealed to the Secretary to the Government of the Federation (SGF), Babachir David Lawal; the National Population Commission (NPC), Ministry of Budget and Planning and other supervising agencies to ensure there are adequate provisions in 2018 budget towards the conduct of 2018 census.

Moving a motion on the census yesterday, Senator Suleiman Hunkuyi (Kaduna North) noted that Section 24 of the Third Schedule to the 1999 Constitution (as amended) empowers the NPC to produce demographic, socio-economic and health data by conducting census surveys and registering births, deaths and migration.

According to him, the United Nations recommended the conduct of census every 10 years in view of its importance to the socio-economic and development planning, observing that it’s exactly 10 years since Nigeria conducted the last census in 2006.

He emphasised various reasons the president should announce the conduct of the forthcoming census now to include the need to make sophisticated arrangements involving scientifically tested and effective methods.

The senator added that planning towards the census would include identifying the most suitable technology and promoting mobilisation and training of enumerators as well as awareness campaign for the exercise.

“Concerned that in accordance with the best international practices, a well planned and executed census population should take a minimum of two years. It is only pertinent that

subsequent population census should be carried out with an adequate timing and an objective of conducting acceptable exercise.

“Further concerned that inadequate funds for the preparation process towards the 2016 population census appropriated by the National Assembly in 2013, 2014 and 2015 appropriations with very poor cash backing, hence part of the reason for the failure of the exercise in the year 2016,” Hunkuyi said.

Other senators such as John Eno (Cross River Central) and Joshua Dariye (Plateau South) who contributed to the debate described the motion as timely in view of Nigeria’s poor database, saying the pace of advancement in technology today demands sound and effective database which they believe the 2018 census can address.

The motion was co-sponsored

by Senators Abubakar Danladi (Taraba North), Kabiru Marafa (Zamfara Central), Gbolahan Dada (Ogunmade West) and Baba Garbai (Borno Central).

Also yesterday, the Senate confirmed the appointments of Justices Ejembi Eko and Amina Augie as judges of the Supreme Court. The confirmation was the aftermath of the report of the Committee on Judiciary, Human Rights and Legal Matters presented by its Chairman, Senator David Umaru.

After the confirmation, Deputy Senate President, Ike Ekweremadu, who presided over the sitting, thanked his colleagues for confirming the appointments and urged the judges to discharge their duties in the apex court with a sense of honesty and integrity.

“Thank you colleagues for the patriotic exercise. I congratulate the nominees on this confirmation.

They now have the opportunity to contribute their quotas to the development of the country. This time that there are many challenges confronting the country, it is their responsibility to perform their duties with honest and highest level of integrity,” Ekweremadu said.

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

55

NEWSEXTRA

Witness Reveals How NIMASA Transferred N8.5bn to Military Joint Task Force Davidson Iriekpen A prosecution witness, Teslim Ajuwon, yesterday told a Federal High Court in Lagos that the Nigerian Maritime Administration and Safety Agency (NIMASA) under a former Director-General, Patrick Akpobolokemi, transferred a whopping sum of N8.5 billion into the account of the military Joint Task Force (JTF), Operation Puelo Shield in the Niger Delta.

Ajuwon, a compliance officer with a new generation bank, gave this evidence at the commencement of trial of the former Commander of the JTF, Maj-Gen. Emmanuel Atewe.

Atewe was charged by the Economic and Financial Crimes Commission (EFCC) alongside Akpobolokemi, Kime Engozu and Josephine Otuaga over a N8.5 billion fraud.

The anti-graft agency filed an 11-count charge against the accused persons.

When the case was called yesterday, the prosecutor, Mr. Rotimi Oyedepo, led his first witness (PW1) in evidence-in-chief.

The witness narrated that on the whole, NIMASA made an in-flow of cash to the tune of N8.5 billion into the account of the JTF. He also informed the court that between September 5, and 16, 2014, a total of N1.8 billion was moved from the said account into the accounts of Jaggan Limited, Paper House Service Ltd, East Point Services Ltd and Al-nald Ltd. Oyedepo posed the question to him: “Please tell this court the various transactions that transpired on September 3, 2014.”

The witness began: “On September 3, 2014, there was a Nigeria Electronic Fund Transfer (NEFT) of the sum of N2.4 billion to the account of JTF, Operation Puelo Shield, and this was from NIMASA. “On October 30, 2014, there was another transfer of the sum of N2.4 billion by NIMASA, into the same account of the Joint Task Force; on April, 30, 2015, there was also a transfer of N1 billion from NIMASA into the same account.

“Again, on May 11, 2015, there was a transfer by NIMASA, of the sum of N1.7 billion into the same

account of the Joint Task Force, while the following day May 12, 2015, there was another transfer of N1 billion by NIMASA into same account,” According to the witness, these amounts represented the in-flow of cash into the account of the JTF between September 3, 2014 and May 12, 2015, by NIMASA. The prosecutor then asked the witness to also explain to the court the various transactions involving monies going out of the said account between September 5 and September 16, 2014.

Again, the witness recounted: “On September 5, there were several transactions involving

monies going out of the account of the joint task force.

“First, there was a withdrawal of the sum of N100 million which was transferred to one Jaggan Ltd with Diamond Bank; a second transfer of N100 million was made again to Jaggan Ltd, and N100 million transferred to Paper House Ltd. “The sum of N100 million was also transferred to Paper House Ltd, another N200 million transferred to East Point Services Ltd, N100 million transferred to Al-nald Ltd, while the sum of N50 million was again transferred to Jaggan Ltd,” Giving a break down of the transactions carried out from the said JTF account on September

9, 2014, the witness told the court that a cumulative transfer of N150 million was made to Jaggan Ltd. He stated that N100 million was transferred to Paper House Ltd, N100 million transferred to Al-nald Ltd, and N150 million transferred to East Point Services Ltd. On the break down of transactions carried out on September 10, 2014, the witness told the court that a total of N150 million was transferred to Jaggan Ltd, while the sum of N150 million was transferred to East Point Integrated Services Ltd. On the break down of transaction executed on

September 16, 2014, the witness explained that there was a transfer of about N150. 5 million to Jaggan Ltd, and a transfer of N68.2 million to De New Link Integrated Services Ltd. He said that there was also a transfer of N150 million and N100 million respectively, to East Point Integrated Services Ltd. After the witness’ testimony, the prosecutor told the court that this was a convenient spot to stop the witness’ testimony for the day, in other to also allow his colleagues have their cases heard.

Consequently, Justice Saliu Saidu, adjourned the case to October 19, for continuation of trial.

Southern Nigeria Leaders Question Buhari’s Policies, Leadership Style Emmanuel Ugwu in Umuahia Leaders from the southern part of the country yesterday gathered in Umuahia, Abia State Captial and beamed their searchlight on the government of President Muhammadu Buhari and its polices and actions, which they said were inimical to national growth and unity.

The leaders who came from the three geopolitical zones of the south under the aegis of Southern Nigeria Peoples Assembly (SNPA) said they were worried about the style of leadership of President Buhari and the way the country has continued to drift Chief Mbazulike Amechi, who stood in for the coordinating Chairman of the SNPA, Dr. Alex Ekwueme, set the tone of the deliberations when he addressed the meeting of the elders council and management committee.

“We are going to look at the government we have today, whether it is a government of the federation or a government of a section of the country,” he said, adding that the deliberations would be exhaustive given the myriads of problems buffeting the nation.

Amechi, who was Nigeria’s first aviation minister, said all the issues that affect the South needed to be x-rayed and solutions proffered in order to build a united prosperous Nigeria where justice and equity shall reign.

According to him, the issues that the leaders would focus attention in their deliberations include kidnapping, herdsmen attacks, restricting of the nation, agitations in the Niger Delta and other parts of the South, collapsing economy, ongoing corruption war, growth or decline of democracy in Nigeria.

He regretted that the threat to the unity of Nigeria was still rife and there were no concerted efforts to address the issues that continuously make it so difficult for Nigeria to attain true nationhood.

Chief Edwin Clark, who led the delegates from the South-south zone, said that the leaders would speak out their minds, adding, “If I can’t speak my mind on any issue then I’m not a statesman.”

He reminded those trying to appropriate Nigeria to the exclusion of others that “Nigeria belongs to all of us,” adding that it was regrettable that the nation was being compelled to travel through the same path that led to the civil war in the 60s.

“This issue of Biafra should be taken very seriously; those of us who passed through the civil war up to 1970 would not like to pass through that road again,” he said Clark said that the SNPA should invite President Buhari to a town hall meeting with the South where the issues affecting the growth of the nation would be dispassionately discussed and a common and implementable solution would be adopted.

The delegates from the Southwest zone equally expressed alarm at the current happenings in the country and how Buhari’s actions and policies have been worsening the already bad situation.

The Chairman of the Yoruba Unity Forum, Bishop Emmanuel Bolarnre Gbonigi, who was represented by Senator Femi Okurounmu, lamented that Buhari was doing harm to the unity of Nigeria as he has demonstrably been tilting his government in favour of the section of the county where he comes from.

“We ask Mr. President to stop this ethnically biased appointment into offices,” he said, adding that “more and more sections of Nigera are increasingly feeling marginalised due to the actions and policies of government which is increasingly becoming sectional.”

The meeting was flagged off by the host governor, Dr. Okezie Ikpeazu, who charged the SNPA to pursue those things that the states of the Southern part of Nigeria can do to foster economic and political interests.

ELDERS’ MEETING

L-R: Chief Emmanuel Iwuanyanwu; Chief Edwin Clerk; Senator Femi Okurounmu; Chief Mbazuluike Amaechi; and Abia State Governor, Dr. Okezie Ikpeazu, observing the national anthem during the Elders/Management Committee meeting of the Southern Peoples Assembly at the Michael Okpara Auditorium in Umuahia...yesterday

IPAC: INEC Must Settle Jegede, Ibrahim’s Conflicting Candidatures for Ondo Poll with Wisdom PDP alleges arrest of members by security agencies Olakiitan Victor in Ado Ekiti and James Sowole inAkure As two candidates are now slugging it out to fly the flag of the Peoples Democratic Party(PDP) in the November 26 governorship election in Ondo State, the InterParty Advisory Committee (IPAC), Ekiti State chapter, has appealed to the Independent National Electoral Commission (INEC) to settle the confusion without taking partisan interest.

IPAC said the PDP remains a major and critical participant in the election, saying failure to resolve the logjam created by the friction and division between Ali Modu Sheriff and Ahmed Makarfi factions in the most tactical way could create an atmosphere of tension that could heat up the polity unnecessarily.

The name of a former Attorney General and Commissioner for Justice in Ondo State, Mr. Eyitayo Jegede, had been submitted to INEC by the Governor Olusegun Mimiko faction which has a leaning with Makarfi group, while the Sheriff faction later forwarded the name of a business mogul, Mr. Jimoh Ibrahim to the electoral

commission.

Jimoh’s candidature was later buoyed by the Federal High Court verdict of last Friday, which declared him the rightful candidate to fly the flag of the party.

Speaking with journalists in AdoEkiti yesterday, the IPAC Chairman in Ekiti State, Dr. Dele Ekunola, said INEC had done the country proud by conducting a credible election that complied substantially with the provisions of the Electoral Act in Edo State, urging it to replicate such in Ondo State.

Ekunola appealed to the commission to apply the same modality it used in presenting Pastor Osagie Ize-Iyamu in Edo State to resolve the Ondo debacle.

Describing the situation as worrisome and confusing, the IPAC boss added that INEC taking the right decision will help the credibility of the poll.

“This situation whereby both Jegede and Ibrahim are laying claim to a ticket is very worrisome and the PDP is a critical participant in the election. Though, the matter is more of a judicial issue, but INEC can still apply wisdom so that commonsense can prevail and the polity will not be heated up,”

he said.

It praised the electoral body for maintaining substantial neutrality in Edo governorship poll, urging the commission to replicate the same feat in the November 26 governorship poll in Ondo State.

On the crisis rocking the state chapter of the party, which polarized the body into two, Ekunola clarified that the feuding groups had fused into one after reconciliation , which he said led to the election of new executives recently in the state.

Those elected were: Ekunola as Chairman, Hon Ilesanmi Omolayo (Vice Chairman), Mallam Jimoh Saheed (Secretary), Fred Iyaniwura (Publicity Secretary), Chief Moses Awogbemi (Financial Secretary), Rufus Alabi (Treasurer) and Ileanmi Josiah (Assistant Secretary).

He added: “INEC even settled the PDP confusing candidature in Edo with ease and we expect this to come to play in Ondo. We all the existing political parties in the state are pleased with INEC neutrality.

“All these showed that democracy has taken a deep root in Nigeria and we appeal to INEC to repeat the same feat in Ondo State.”

Meanwhile, the PDP in Ondo

State yesterday raised the alarm alleging that security operatives had embarked on the harassment of its members through unlawful arrest as the party prepares to inaugurate officially the campaign of its candidate for the November 26 election, Mr. Eyitayo Jegede (SAN) today.

The Publicity Secretary of the party in the state, Mr Banji Okunomo, who raised the alarm in a statement adding that those arrested were mainly youth leaders from the across the state.

Okunomo, who did not mention names of the people involved, alleged that those arrested were presently at the State Investigation Bureau (SIB) office for questioning by security agents.

Responding to the allegation, the state Police Public Relations Officers Mr. Femi Joseph, said it was not true that they arrested people.

He said the command however, had course to invite some people for questioning to maintain peace in the forthcoming election and in doing that they do not know which party they belong because the police do not want to know the party they belong to.

56

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

NEWSEXTRA

FG: Airport Concessions Necessary ahead of 60m Passenger Target Terms concession of MMA2 to Bi-Courtney not transparent

Damilola Oyedele in Abuja

The federal government yesterday said the planned concession of four international airports terminals is targeted at the provision of adequate world class infrastructure for an estimated 60 million passengers in the next 10 years.

It noted that over N1 trillion would be required to overhaul the airports and upgrade them to international standards, for which the funds are not currently available.

The Minister of State, Aviation, Mr. Hadi Abubakar Sirika, cited the International Air Transport Association (IATA) and the International Civil Aviation Organisation (ICAO) as having predicted that air traffic in Africa would quadruple in the next 10 years.

This, he said, indicates that Nigeria as a matter of urgency, has to boost the capacity of its airports which currently handle 15 million passengers, else the nation’s economy would be circumvented.

Sirika said these while speaking at the public hearing by the House of Representatives Committee on Aviation.

The committee, headed by Hon. Nkeiruka Onyejeocha (Abia PDP), had organised the hearing to meet with stakeholders on the need to save the aviation industry from imminent collapse.

The minister assured that the

processes of concession would be transparent, and would be a departure from previous processes which he said were characterised by secrecy, under-dealings and exclusion of stakeholders.

Sirika refused to make a direct comment on the concession of terminal two of the Murtala Muhammed International Airport, Lagos to Bi-Courtney Aviation Services Limited, but made insinuations that the process was not transparent.

The company is owned by businessman, Mr. Wale Babalakin.

“When these things are not done transparently, you end up in court and in litigation. Yes, we thank him, but is this what Lagos, with its 23 million people, deserves? No! We want something more elaborate that can service the 60 million passengers,” the minister said.

“I am not interested, neither is my boss at the villa,” Sirika said, adding that the ministry intends to borrow from, and build on the manner of concession of the nation’s seaports.

He further disclosed that the government plans to concession 100 per cent of its 21 airports eventually, even though only four are up for concession in the first phase.

“What we plan to do in the Abuja airport for example is to put a brand new runway, and a brand new terminal opposite the current one,” he said and added

US to Investigate Illicit Diversion of USAID-funded Malaria Products, Funds

To reward Nigerian whistleblowers with facts Paul Obi in Abuja The United States government yesterday said it would intensify investigation in the alleged diversion of USAID-funded malaria programmes and illicit sale of malaria products it has funded in Nigeria so far.

Head of Investigation, Office of the Inspector General, USAID, Jonathan Schofield, told journalists in Abuja at the relaunch of Make A Difference (MAD) malaria hotline that the investigation bureau entrusted with the task of probing such illicit activities relating to malaria programmes found some ‘troubling patterns’ in Nigeria.

He explained that the probe will only be restricted to US funded projects and will be in collaboration with Nigerian law enforcement agencies.

Jonathan said: “The US funded malaria programme is a specific tailored initiative we are now doing. We are working in many other countries around the world to look at illicit activities, including diversion, kick backs, including embezzlement of health programmes funds.

“There are patterns that we see in Nigeria that are troubling, we don’t know how deep they are, but with this project, we will focus on those patterns,” he said.

He stated that probe would

extend to “The global funding to Nigeria given that one third of the global fund budget is contributed by the US government.

Jonathan informed journalists that though “the global fund focus on audit” In their investigation, he added that, “what we (Office of the Inspector General, USAID, offer is the law enforcement component.”

The MAD programme also included rewarding Nigerian whistleblowers who have vital and concrete information and facts about diversion of malaria products and funds to contact US authorities through 8099937319.

Jonathan explained that “the main objective is to obtain actionable information concerning their transmitted, resale or falsification of anti-malaria drugs and commodities within USAID President’s Malaria Initiative (PMI) funded countries.

Also speaking, National Coordinator of the National Malaria Elimination Programme (NMEP), Dr. Bala Muhammed, represented by a Director in the agency, Dr Godwin Ntadom, stated that “part of the problems we face in the fight against malaria is in the quality of medicines used in the treatment of Malaria in Nigeria.

“The continued availability of counterfeit impedes global efforts in the fight against malaria and as such results in treatment failure and even death,” Ntadom stated.

that the projects are expected to be completed in 24-48 months with 30 million passenger capacity.

The minister recalled that the Central Bank of Nigeria (CBN) recently approved a special foreign exchange policy for airlines to mitigate against the challenges in the industry.

The aviation industry unions represented at the hearing however reiterated their opposition to the planned concessions.

The National President of the Air Transport Services Senior Staff Association, Mr. Benjamin Okeowo, queried why the government was planning to concession only the economically viable airports.

He added that the Federal Airports Authority of Nigeria (FAAN) pays salaries, wages and pensions of workers from internally generated revenue most of which comes from the four airports.

This, he said, is in addition to the agency maintaining all airports in the country.

“What happens to the remaining 17 airports? We have staff in all these 17, what becomes of them when the viable four are taken over,” Okeowo said.

He added that about 35 per cent revenue is being lost to leakages through the nonimplementation of a cashless policy in FAAN operations.

Onyejeocha, speaking earlier, harped on the need to restore confidence in aviation industry.

“We cannot be doing the same things over and over again and expect different results. The sector must not collapse not be allowed to stay under developed under our watch,” she said.

The hearing which continues for the next three days, was declared open by Deputy Speaker of House, Yussuff Sulaimon Lasun.

INTERNATIONAL RECOGNITION

Former Governor of Anambra State, Mr. Peter Obi (middle); Senator Philip Ozouf ( left) and the Chairman of Commonwealth Enterprise and Investment Council, Lord Marland of Odstock, after Obi’s induction/ meeting as a member of the Council’s Advisory Board at Marlborough House, London....yesterday.

Again, Court Sacks Enugu Lawmakers Orders refund of earned emoluments to N’Assembly Alex Enumah in Abuja The Abuja division of the Federal High Court has again ordered two members of the House of Representatives from Enugu State to vacate their seats in the National Assembly.

They are: Hon. Stella Ngwu from Igbo-Etiti/Uzo-Uwani Federal Constituency and Hon. Dennis Nnmachi Agbo from Igbo-Eze North/Udenu Federal Constituency.

Justice Okon Abang of the Federal High Court in Abuja gave the order in a judgment he delivered on a pre-election matter which emanated from the Peoples Democratic Party (PDP) primary election held in December 2014.

Abang in his ruling, held that the emergence of Ngwu and Agbo was unlawful as the party in the conduct of its primaries failed to make use of the list of delegates that emerged in its congresses held on November 1, 2014.

Apart from the sacking of the two honourable members, the trial judge also ordered that they refund to the coffers of the National Assembly forthwith all monies so far collected by way of salaries, allowances since they took the seats in the House.

Consequently, Abang ordered the Independent Electoral

Commission (INEC) to immediately issue Certificates of Return to Dr. Gabriel Okafor and Hon. Chijioke Ugwu respectively.

Dr. Gabriel A Okafor was declared winner of Igbo-Eze North/Udenu Federal Constituency while Hon. Chijioke H. Ugwu won Egbo-Eze North/Udenu Federal Constituency.

The PDP and its National Working Committee are the 1st and 2nd defendants, while the Independent National Electoral Commission (INEC) is the 3rd defendant and Ngwu and Agbo are 4th defendants in the two separate suits.

According to the court, the PDP and its National Working Committee (NWC) had no right or authority to use any delegate list for the election for its candidate for Igbo-Etiti/Uzo-Uwani and Igbo-Eze North/Udenu Federal Constituencies, respectively, other than the list of delegates that emerged in its congresses held on November 1, 2014.

“It is hereby declared that the 4th defendant did not emerge as winner from the primary election conducted for the purpose of electing the House of Representatives’ candidate of the 1st defendant for Igbo-Etiti/ Uzo-Uwani Federal Constituency for 2015 general election since the primary election that purportedly

produced her as winner was not conducted based on the list of delegates that emerged from ward congresses of the 1st defendant held on November 1, 2014.

“It is hereby declared that the plaintiff, Dr. Gabriel .A. Okafor won PDP’s party primary election on December 6, 2014 for Igbo-Etiti/UzoUwani Federal Constituency election into the House of Representatives.”

Justice Abang also held: “It is hereby declared that the 4th defendant did not emerge as a winner from the primary

election conducted for the purpose of electing the House of Representatives’ candidate of the 1st defendant for Igbo-Eze North/ Udenu Federal Constituency for 2015 general election since the primary election that purportedly produced her as winner was not conducted based on the list of delegates that emerged from ward congresses of the 1st defendant held on 1st November, 2014.”

He equally awarded the sum of N100,000 as cost against the defendants in favour of the plaintiff.

Madam Felicia Oniagba for Burial The families of Oniagba and Odogun have announced demise of their beloved mother and sister, Madam Felicia Oniagba. Aged 87, who died on Sunday, October 2, 2016.

A statement by the family said service of songs will hold October 20, at her residence, Balogun Street, Odo-Ekpen, Iyayu quarters, Idoani, Ondo State.

On October 21, there will be funeral service at Cathedral Church of Holy Trinity, Idoani.

Interment follows at her residence.

Entertainment take place at the premise of Cathedral Church of Holy Trinity, Idoani.

She is survived by children,

among whom is the CEO REM-Bam Nigeria Ltd, Mr. Soye Oluremi Oniagba; grand-children, greatgrandchildren and other family members.

Oniabga

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

57

NEWSEXTRA

Senators Clash over Buhari’s Comment on His Wife Omololu Ogunmade in Abuja

Two senators – Biodun Olujimi

that his wife, Aisha, belongs to the kitchen.

The disagreement came on the heels of a point of order raised by the Senate Leader, Ali Ndume, during which he drew the attention of his colleagues to the release of 21 Chibok schoolgirls.

While supporting Ndume’s motion on the release of the Chibok that royal fathers in Oke Ogun will girls, Olujimi could not resist taking soon pay a visit on Ooni Ogunwusi a dig at Buhari’s remarks on his in his palace in recognition of his wife, saying: “Our women should leadership. not only be in the kitchen, they However, in his remarks, the should be in the Senate too.”

Ooni, Oba Ogunwusi, stressed that But Olujimi’s comment provoked he does not see himself as sole a reaction from Garba who swiftly authority in Yorubaland, explaining dismissed her submission, saying: that he is on the throne to look “I am proud to be in the kitchen after the cradle of the Yoruba race and also in the Senate. I am first on behalf of other monarchs of a woman before a senator and I Yoruba extraction. am proud to be in the Senate too He noted: “If anything happens as a woman.” here, Ekiti will ask me questions, Oyo, Egba, Ibadan, Ondo, Ijebu and others will ask me questions.

I am just looking after this throne on behalf of all of you.

According to him, “My message is peace. Let us unite and work for the progress of Yoruba nation.

Nobody will do it for us. Baba Olubadan is a leading light. He is supporting us fully to unite this race and it shall be done by God’s grace,” the Ooni concluded.

While speaking on the visit, Balogun of Ibadan land, Chief Akinloye Olakuleyin, said since joining Ibadan chieftaincy line over 35 years ago, no Olubadan has ever paid the Ooni a courtesy visit and commended the royal fathers for showing good examples how to live in love.

(Ekiti South) and Binta Masi Garba (Adamawa North) – yesterday disagreed sharply over President Muhammadu Buhari’s comment

God Used Me to Mediate on Ooni, Alaafin Rift, Says Olubadan Yinka Kolawole in Osogbo The Olubadan of Ibadanland, Oba Saliu Adetunji, Aje Ogungunniso I, yesterday disclosed how God used him to settle the rift involving the Ooni and Alaafin, to allow unity among royal fathers in Yorubaland.

Oba Adetunji, who was in Ile Ife on a visit to the Ooni, Oba Enitan Adeyeye Ogunwusi, Ojaja II, however did not mention which of the Oonis disagreed with the Alaafin and the cause of the disagreement but noted that he was able to resolve the crisis.

He then commended Oba Ogunwusi for showing leadership by example for the Yoruba race.

Olubadan stressed that since all Yoruba people believe that they are all descendants of Oduduwa and that as the progenitor of the race, whoever is Ooni is the natural leader of the race.

Also speaking, Aseyin of Iseyin, Oba Abdul-Ganiyu Ologunebi, who was in Ooni’s palace on a private visit too, opined that Ooni Ogunwusi’s peaceful disposition and crusade of love should be supported by all Yoruba monarchs to secure the future of the race.

He said the position of Ooni is clear in Yoruba history and declared

Niger Delta Dialogue with FG: Don’t Negotiate for Your Pockets, Rights Groups Warns Clark, Others Sylvester Idowu in Warri As the leaders of the Niger Delta prepare to meet President Muhammadu Buhari next weekend, right groups under the platform of Pan Niger Delta Civil Societies Groups (PNDCSG), have charged members of the Pan Niger Delta Leaders Forum not to negotiate for their pockets as it used to be in the past.

They maintained that they must present the template in consonance with requests by militants in the region, particularly the restructuring of the country.

The groups, in a joint statement signed by their leaders and made available in Warri yesterday, warned leaders that will be meeting with President Muhammadu Buhari to eschew pursuit of personal interests and hammer on restructuring the country.

The groups included Niger Delta Security Watch Organisation of Nigeria, led by Dickson Bekederemo; Ijaw Human Rights Monitors, coordinated by Fred Brisibe; Ijaw Peoples Development Initiative, led by Austin Ozobo and Foundation for Human Rights and Anti-Corruption Crusade (FHRACC) presided over by Alaowei Cleric.

While lauding President Buhari for initiating the meeting, the groups asked leaders of the region to extricate from among them those having corruption charges hanging on their necks.

“Our hearts are filled with joy

over the news that Mr. President is inviting Niger Delta leaders to commence the process of dialogue.

This is what we have been yearning for.

“We therefore commend President Buhari for fixing a date to meet with the Pan Niger Delta group for peaceful resolution of the region’s questions. We advice that the federal government should usethis medium to give a finishing touch to the reoccurring debacles in the region.

“Those who are representing the region in the proposed meeting should on no account do their own biddings other than the template suggested by the militants.

Members of the Niger Delta Avengers (NDA) have stated clearly that one of the template for dialogue is the restructuring of Nigeria into six regions.

“We want them to note that the militants also demanded as part of their suggested template for the dialogue is for the process to be mediated by home countries of all the multinational oil cooperation as well as other neutral international mediators. We therefore urge the Pan Niger-Delta group to stick to this template.

“Anything short of this will not be accepted by our generation,” the civil society groups warned.

The groups advised the leaders to shun the offers of free accommodation, travel expenses, free meals and other filthy lures that could portray unseriousness, but rather show sacrifice.

However, Olujimi commended the military and international organisations involved in negotiations leading to the release of the girls.

She said: “There are people who are still out there. We need to find them. Everyday, we hear that Boko Haram has been conquered and the next minute we hear of bomb blasts. There is confusion everywhere.

“As women, we are proud of our Armed Forces. We also want to appreciate the Red Cross and the federal government which were part of the negotiations. We appreciate all their efforts.”

Garba also expressed hope that with the release of the 21 girls from captivity, others would also be released. “For the girls to have been freed, it means there is still

hope that the other girls will be found. It is a big joy to mothers, fathers and everyone,” she added.

Earlier, Ndume, in his point of order, said he shed tears when he visited the girls at the Department of State Security Services (DSS) hospital.

“When I went to see the released Chibok girls, I could not hold myself. I broke down in tears. The leader of the girls compelled me to make a promise that the other girls will be returned.

“I was moved to warn the Nigerian Air Force to be careful when carrying out air raids on Sambisa forest. They should be careful so that they will not kill the remaining girls,” he said.

In his remarks, Deputy Senate President, Ike Ekweremadu, who presided over the session, hailed

the efforts of the Armed Forces and other partners that played notable roles in the return of the girls.

He said: “On behalf of the Senate, I want to join others in appreciating God. I want to congratulate the Senate Leader. We are very proud to have these girls rescued. We had been asked several times whenever we travelled when the girls would be rescued.

“We also want to appreciate the Armed Forces and everyone that contributed to the rescue of these girls. I know that they will bring this madness to an end.

“We need to do more to bring the other girls back home. We say congratulations to the families of the girls after all the trauma they have gone through. In the no distant time, we will hear that other girls have been rescued.”

LUCKY WINNER

L-R: Area Manager, Port-Harcourt II, Diamond Bank Plc, Soala Inyang; DiamondXtra, South-south SUV Winner, Omoregie Imariabe Austin; Area Manager, Benin-City, Festus Erewele; and Branch Manager, Aba Road Branch, Port Harcourt, Judith Anolefo, at the DiamondXtra South-south prize giving ceremony in Port Harcourt....recently

LASG Probes Billions of Naira Lost to Sale of Govt Assets Beneficiaries may face revocation, prosecution Akinwale Akintunde The Lagos State Government has wrapped up the constitution of a panel of inquiry to investigate the wrongful sale of government assets and properties worth billions of naira.

A top official exclusively revealed the state government’s resolve to THISDAY yesterday, citing some unresolved questions, which he said, made the investigation into the sale of the prime assets compelling and imperative.

The official, who spoke privately due to the sensitivity of the issue, said the state government decided to investigate the sale of the affected assets because they were sold below market value.

At the private session, the official lamented the colossal amount of funds running into billions of naira, which he said the state government lost in revenue to the unacceptable process by which the sales were

conducted.

He said the affected assets “are located in high-profile areas, where decision-makers, captains of industries, top government functionaries and political actors among others often crave to build their homes or set up their offices.”

He named the high-profile areas to include Ikeja GRA, Magodo, Ikoyi, Lekki and other prime locations, where government assets were sold to some very important persons (VIPs) below the market value.

He explained that the assets were disposed at abysmal (or give-away) prices and obviously against public interest, which he said, stoked the interest of the present administration to investigate and review the process by which the assets were sold.

Aside the sale of the affected assets below the market value, the official said the government assets, which were sold between 2006 and 2016 did not follow due

process and standard procedure of sale.

He explained what eventually culminated in the resolve of the state government to investigate the sale of its assets in the last decade, lamenting that some of these assets “were then sold as low as N20 million.”

The official lamented that the government and people of Lagos State “have been short-changed considering the abysmal prices the assets were sold. For example we have a situation whereby properties situated in Ikeja GRA was sold as low as N20 million and N30 million in few cases.

“Generally, we have a situation where government properties in prime locations were sold between N20 million and N70 million.

The assets were abysmally under-valued. Besides, the assets were sold below the actual market value, hence the need for a panel of inquiry.

The official added that no serious government “will allow such sales against public interest

to stand. I do not think these sales can stand. That is why the state government has decided to set up a Panel of inquiry to look into the sale of these go assets.”

The official said the list of over 100 properties; the names of their buyers and the locations of the assets have already been compiled.

The panel of inquiry that has been working quietly is reported to be headed by a high-ranking cabinet member is expected to submit its report before the end of November this year.

He said the panel’s terms of reference “are to investigate the sale of government assets between 2006 and 2016; review the terms of sale of the assets in questions; determine if the state government received fair market value for any sale.”

The source added that the state government “will ask those that purchased the properties at undervalued prices to pay the difference or face immediate revocation of the sales and prosecution were appropriate.”

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

58

NEWSEXTRA

Conflicts: 10 Northern Govs in Washington, as Shettima Demands Practical Benefits As 10 northern governors yesterday began a three-day symposium organised by the United States Institute of Peace (USIP) which is an agency established and funded by the US Government, Governor of Borno State and Chairman of the Northern States Governors’ Forum, Kashim Shettima, has demanded practical benefits of the symposium that will make impacts on the vast majority of citizens across the 19 northern states.

Shettima’s spokesman, Isa Gusau, said in a statement e-mailed from Washington that the symposium is a follow up on an earlier one hosted in March 2014 during the President Goodluck Jonathan administration when the US invited northern governors for a security symposium which dwelt on finding solutions to the Boko Haram insurgency and it’s spread from the Northeast to other parts of northern Nigeria.

Delivering his address on behalf of the Northern Governors’ Forum, Shettima said travelling to Washington at a time of economic recession was likely to attract condemnation for the governors but they defied the anticipated criticisms with expectation of benefits for their citizens.

“We believe that our hosts, USIP and officials of the US government will work with us with the utmost sincerity of purpose to guarantee quick benefits that will improve the living conditions of our people.

As governors of the 19 northern states, we hope to secure tangible benefits that we can point to our people as proof, that our visit here is not a jamboree as they

would assume. By the time we wake up tomorrow, print, online and broadcast media houses in Nigeria would have screaming headlines, that ‘Twelve northern governors storm Washington’ amid economic recession, when our national currency, the naira, has sharply depreciated against the US dollar. Majority of our citizens will quickly conclude that we are here on a jamboree. Well, leadership isn’t only about popular decisions; leadership is about doing what is right at a right time.

“Our visit to Washington is an opportunity to re-engage with our American partners on the most vital issues that can help us to quickly make transition from volatility to a phase of peace and development in the northern states of Nigeria.

Over the past few years, we have realised that the indices of development in our region have not only been some of the most damning in our country, they have also been the background against which the problems in our region have manifested.

“These range from the deepening problems of Boko Haram, rural banditry, spontaneous religious and inter-tribal violence, deadly clashes between pastoralists and farmers, cattle rustling as well as the mother of them all which is pervasive poverty that gives birth to the many forms of crime. The emergence or of insurgencies is not episodic events. They manifest through lingering processes which eventually symptomatised into Boko Haram and ISIS.s We have the greatest respect and admiration for the American government

Senate C’ttee Orders Discos, Gencos to Subject Equipment to Testing Omololu Ogunmade in Abuja The Senate Committee on Power, Steel Development and Metallurgy yesterday ordered electricity distribution companies (Discos) and generating companies (Gencos) in the country to submit their equipment for examination by the Nigeria Electricity Management Services Agency (NEMSA).

The order was the aftermath of a complaint by NEMSA to the Senate Committee on Power when it paid the agency an oversight visit that stakeholders in the power sector flout its laws arbitrarily.

The committee Chairman, Senator Enyinnaya Abaribe, while giving the order said NEMSAmust ensure that stakeholders obey the law regulating their activities.

He also asked the agency to ensure compulsory testing of all electricity equipment before they are certified for installation in any part of Nigeria.

Abaribe also told the 11 electricity distribution companies in Nigeria to ensure strict compliance with the laws setting up NEMSA. The law makes it compulsory for meters and electricity equipment brought into the country to be tested before they used.

He said: “What we are saying today is that there are. gaps between what NEMSA is supposed to be doing and what the Discos are actually doing. From what we can see it is actually because they are not seeing NEMSA as an enforcement

agency that it actually is.

“The task that we are giving to NEMSA today is that they should use their law the way that it has been ratified and signed by the President of Nigeria so that they would actually hold the Discos accountable for their deeds in the power sector. That is a very big task which we want NEMSA to enforce strictly.”

Responding, NEMSA’s Managing Director, Peter Ewesor, said the agency was upgrading its meter test stations in the outstations assuring that the agency would ensure standardisation of electricity equipment.

He also said the agency was working hand in hand with the Standards Organization of Nigeria ( SON).

He said: “NEMSA is the technical partner with SON for standards in the power sector… NEMSA has the duty of technical inspection, testing and certification of all categories of electrical installations, electricity meters and instruments and other materials to ensure the efficient production and delivery of safe, reliable and sustainable electricity power supply and guarantee safety of lives and property in the Nigerian electricity supply industry and for other related matters.

“We want to ensure that only certified electrical installations practitioners are operating in the electrical contracting window. We have successfully re-modeled and upgraded National Meter Test Station, Oshodi to bring it back to international standard.”

and we hold the United States Institute of Peace in very high esteem due to its track record.

It is for these reasons that even

though we anticipate criticism at home for this visit, we came here with high expectations.”

US Deputy Secretary of State,

Anthony Blinken, who delivered a keynote address at the opening ceremony, said the US government was keenly interested in working

with the northern governors to address conflicts and factors responsible for pervasive poverty in northern Nigeria.

WORTHY RECOGNITION

L-R: Principal, Redeemer International Secondary School, Mrs. Feyisara Osinupebi; Guest Speaker and Wife of Vice President, Mrs. Dolapo Osinbajo; Mrs. Otutosin Olufawo; and Mrs. Perpetua Akanwa, during the 20th Founder’s Day and prize giving of Redeemare International Secondary School in Lagos....recently Mubo Peters.

FG to Slash Price of Decoders in Digital Broadcast Boost Olawale Ajimotokan in Abuja

The federal government has expressed move to make affordable to the public television decoders at a retail price of N1,500 under the proposed transition from analogue to digital broadcasting.

The Minister Information and Culture, Lai Mohammed, made the announcement yesterday at the opening ceremony of the 11th international conference for African Broadcasters (Africast 2016) in Abuja, adding government has provided about 200,000 free decoders for the pilot scheme to encourage inclusiveness.

The conference which ends on Thursday with exhibitors from Japan, Israel, UK, Sweden, Singapore, China, Hong Kong, Italy, USA and around Africa, will explore relevant issues in the broadcast industry under theme: ‘Digital Terrestrial Broadcasting: Financing Quality Content.’

Nigeria will transit to Digital Switch Over by December while the process of migration from analogue broadcasting for the entire country would be finalised by June 2017.

M o h a m m e d said government’s perception of Digital Terrestrial Television (DTT) is one where contents will be provided on Free to Air platforms instead of mandating pay per view subscriptions from the public before television programmes including news, business, sports, documentaries,

fashion show, entertainment and other contents can be assessed.

The minister said viewers can access many free to air contents in 30 channels once they acquire the cheap decoders.

He added further that with digitalisation, government revenue will be raised by over $1billion in a year through the television industry while the number of TV stations in Nigeria which currently stands at 450 will increase.

Mohammed also noted that the transition would offer Nollywood a safe and profitable distribution channel direct to 24 million homes through the Set-Top Boxes with no piracy risk in addition to $250million per annum of extra income for the local movie industry.

He noted that apart from value added services that comes with the digital migration many young Nigerians who form the bulk of the demographics in the broadcast industry and other ancillary industries will be offered uncountable job opportunities.

“The digitization of the technology of broadcasting is rapidly changing broadcasting and offering fresh opportunities for broadcasters to embrace platforms for diverse content and media tools with continuous access to content throughout their business.

The reality though is that the motivation apparently is that as broadcasters engage new platforms, the market opportunities are increasing, providing new revenue

streams,’’ Mohammed said.

The Director General National Broadcasting Commission (NBC), Ishaq Modibbo Kawu, said the exhibition of services and latest broadcast equipment and software, would afford the participants on first time visit to Nigeria, a chance to positively

experience the country and change the stereotypes they haboured about the country.

Kawu also said Nigeria intends to leverage on Africast by becoming the hub for Africa in content production and impacting on development of the continent and the world.

Institute Holds Conference to Tackle Climate Change, Crises Martins Ifijeh The Emergency, Crisis, Disaster, Safety, Environmental and Risk Management Institute (ECDSERMI) will on November 12 hold its annual conference aimed at tackling climate change, disaster, risk and crisis situations in the country.

The conference, which will bring professionals in the risk and safety management sector of the country together will also induct new members who will champion professionalism and best practices in the emergency, crisis, disaster, safety, environmental and risk management through seminars, workshops and symposium and human capacity building.

In a statement made available to THISDAY, the speakers expected at the discussion include the Director, Centre for Disaster Risk Management and Development Studies, Prof.

Prince C. Mmom, Minister of Environment, Mrs. Amina Mohammed and the Director General, National Emergency

Management Agency, Mr. Muhammed Sani Sidi.

The institute is a body of seasoned professionals and intending professionals in emergency, risks, crisis, disaster, safety and environment specialties, whose mission is to train and retain practicing and upcoming professionals “Globally, Nigeria inclusive, conflicts, disasters (natural or human induced) and environmental issues occurs unexpectedly, creating emergency and crisis situations.

These usually call for immediate attention as it puts the human race and the environment at great risks. Most conflicts, disasters and environmental issues occur without notice or have never occurred before, thus our level of awareness, enlightenment and preparedness is put to test.

The entire populace within such environment are put at great risks; in some cases lack of adequate coordination among critical stakeholders mare immediate and prompt response,” the statement read.

WEDNESDAY OCTOMBER 19, 2016 • T H I S D AY

59

CRIME&PUNISHMENT Army Sentences Soldier to Prison for Brutalising 10-year-old Boy Michael Olugbode The Nigerian Army yesterday court martialed and sentenced a staff sergeant to two years imprisonment for brutalising a 10-year-old child.

The staff sergeant, Umar Sule, was charged for brutalising, Mohammed Saleh,10, at Simari Ward, London Chiki area of Maiduguri, Borno State.

The convicted soldier was accused of tying the minor to a pole and beat him severally for about seven hours after he caught him stealing his N2,000.

The boy was said to sustain injuries which led to one of his arms being amputated as a result of the brutality.

Allegations were brought against the soldier by the National Human Rights Commission (NHRC) which

led to his court martial and subsequent conviction and de-promotion to the rank of a private.

Delivering judgment, the President of the court set up by the Nigerian army at the 7 Division Maiduguri, Brigadier General Olusegun Adeniyi, said the court arrived at the decision having found the accused, staff sergeant Umar Sule, guilty of the offence, and having listened to the prosecutor urging the court to treat him as first offender, the lead defence counsel plea that the convict served the Nigerian army for 26 years and enlisted in the service in 1999 as well as served in various conflict missions home and abroad.

He said the defence counsel also argued that the accused was deployed to Operation Lafiya Dole and was willing to serve the Nigerian army and

the country dedicatedly and that he has never committed any other offence.

They equally argued that he had showed signs of remorse and pleaded guilty as a family and responsible man and that the court martial should temper justice with mercy after promising he will never be found wanting again.

The court president said he was sentenced based on the Nigerian army rules and laws of 1972 and 1974 respectively on two-count charges subject to confirmation by the confirming authority of the Nigerian army as required by the law.

The military lead prosecutor, Major M.M. Yero, in his remark said he had no objection to the sentence the court read while the lead defence counsel, G. K. Abba, also said he had no objection to the judgment

EFFECT OF RECKLESS DRIVING

Scene of a multiple accidents on the outer Marina in Lagos...yesterday

In Brief

while the NHRC North East Zonal Officer, Jummai Usman Mshelia, remarked that the proceedings of the court were fair and transparent and in compliance with the rule of law and human rights violation consideration.

She commended the Nigerian army and Chief of Army Staff (COAS), Lt. General Tukur Buratai, for constituting the court martial to give fair hearing to the civil society indicating respect for rule of law and human rights in the activities or operations of the Nigerian army.

Mshelia added that the entire proceedings were transparent and highly appreciated by the NHRC while pledging to forward the verdict of the court to the National headquarters in Abuja for perusal.

Kola Olasupo

Again, Navy Cracksdown on Oil Thieves, Illegal Refineries In line with the resolve to eliminate all forms of economic sabotage, crude oil theft and other criminal activities, the operatives of the Nigerian Navy (NN) have continued the crackdown on criminals within the maritime domain.

The patrol team deployed

by NNS JUBILEE has arrested 13 suspects allegedly involved in illegal bunkering activities around Ibeno area of Akwa Ibom State.

The suspects were arrested in three Cotonou boats. Two of the boats were carrying 55 and 48 drums of suspected illegally refined diesel respectively, while the third Cotonou boat was carrying about 188 empty drums.

However, the suspects and exhibits have been handed over to the officials of the Nigeria Security and Civil Defence Corps (NSCDC) for necessary action.

Similarly, the patrol team deployed by FOB ESCRAVOS has arrested three persons suspected to be oil thieves.

The team also destroyed six Cotonou boats carrying suspected stolen crude oil around Sandhill Creek in Warri South West Local Government Area of Delta State.

More so, the team recovered two wooden boats laden with 300 Metric Tones (MT) of stolen crude oil and a pumping machine during the raid.

Meanwhile, a patrol team deployed by NNS PATHFINDER has raided Adokiakiri Creek around Okirika axis and Dutch Island at Onne in Rivers State. During the operation, the Team arrested three suspects and destroyed four speedboats laden with 100 MT of illegally refined AGO. Two barges containing 500MT

In further development, NNS of suspected stolen crude oil were also destroyed by the DELTA patrol team raided an illegal refinery site at Saba Creek team.

In another raid, the Patrol in Warri South LGA of Delta Team also arrested three State. During the operation, suspects onboard MV OMETE a suspect was arrested while VI and a large wooden barge the illegal refinery site and a laden with about 120MT Cotonou boat laden with about of illegally refined AGO around 82MT of suspected stolen crude oil were destroyed in situ.

FOT Onne in Rivers State.

13 Soldiers Wounded, Many Missing as Boko Haram Attacks Troops The Army Acting Director of Public Relations, Col. Sani Usman, has said 13 soldiers have been wounded, while many are missing after Boko Haram attacked the troop’s location at Gashigar, border area with Niger Republic, northern Borno State at 5:30p.m.

Usman who disclosed this yesterday in a statement made available to THISDAY, noted

that the troops did their best to defend the location, but their efforts proved abortive.

The statement added: “The temporary setback made the troops to withdraw from the location. However, the wounded soldiers have been evacuated and receiving treatment, while efforts are ongoing in search of those missing andclear the Boko Haram terrorists at the general area.”

Man Beats 10-year-old Son to Death in Ogun

A 37-year-old man, Rasaq Adekoya, who allegedly beat his 10-year-old son, Waris Adekoya to death in Ogun State has been arrested by the state police command yesterday night. The Police Public Relations Officer of the command, Abimbola Oyeyemi, who disclosed to journalists in a statement, stated that the father was arrested in Ijebu Igbo by policemen attached to the Ago-Iwoye Division following information from members of the community. He, therefore, said preliminary investigations by the police revealed several marks on the body of the deceased as a result of series of torture from his father. He added: “Members of the community said the man had subjected the deceased to excessive beating over an allegation of stealing before he finally gave up the ghost last week Tuesday. However, the corpse of 10-year-old Waris, according to the police spokesperson, had since been deposited at St. Joseph Catholic Hospital Mortuary in Oke-Agbo, Ijebu-Igbo for autopsy. He, however, said the state Commissioner of Police, Ahmed Iliyasu, has ordered that the suspect be transferred to Homicide Section of Criminal Investigation and Intelligent Department, Eleweran Abeokuta, for further investigation. He added: “As soon as investigation is concluded, the suspect will be arraigned before a court of competent jurisdiction.”

Police Arrest 11 Suspected Kidnappers, Rescue 12 Victims

Kano State Police Command has disclosed that it arrested 11 suspected kidnappers, and rescued 12 kidnap victims from the dreaded Falgore Forest in Doguwa Local Government Area of the state. The state Commissioner of Police, Mr. Rabiu Yusuf, told journalists yesterday in Kano that due to the upsurge of kidnapping and armed banditry, especially in the Southern part of the state, the command rejuvenated its anti-kidnapping squad in its bid to launch a major offensive against notorious criminals. According to him, “A fierce gun duel for almost one hour ensued at the first and second gates before the main camp was penetrated,” adding that those arrested during the operation include, Bello Bello Shano, Debo Ibrahim, Lawal Shuaibu, Adamu Abubakar and Nura Salisu of Dariya Shere village. Others include, Zubairu Muazu of Daurawa village, Umar Bello of Kekenta village all in Doguwa Local Government Area, Ibrahim Bashir S/Kaura Village, Adamu Gainaku,Abdulrasak Isyaku of Gidan Iya, Ruga-Ruga village from Tunda Wada Local Government Area and Maharazu Yahaya The Commissioner of Police also stated that while some escaped into the thick forest with bullet wounds, during the mop-up operation, one Bello Salleh and Mohammed Sani all of Rafin Kura village in Doguwa Local Government Area, were kidnapped on the very date they were rescued. He further disclosed that ten other victims who were taken hostage at the forest including women were also rescued, they are Halima Sa’adu, Rabi Idris, Amos Yakubu, Jacob Ibrahim all of Doguwa Local Government Area. Others are Hajara Yakubu of Karasa village, Maimuna Abubakar, Sule Maigoro, Ibrahim Umaru, Musa Idi and Alhaji Ibrahim Hamisu. The exhibits recovered in the Falgore forest camp include, one AK 47 riffle, two loaded magazines, 250 rounds of live 7.62mm ammunition, eight Bajaj motorcycles, criminal masks and personal belongings, saying that, “some quantity of dried leaves suspected to be Indian hemp, some quantity of food items, drinks and drugs were equally uncovered from them. “I wish to further inform you that all the victims underwent post-trauma counseling and medical examination, today, they will be formally handed over to their respective families,” he added.

Police Boss Warns SARS against Violation of Human Rights

Kwara State Commissioner of Police, Mr. Olusola Amore, yesterday advised the men of Special Anti-Robbery Squad (SARS) and other policemen in the state to adhere strictly to the stated rules of engagement with the members of the public and ethics guiding the operation of the Nigeria Police Force. Amore who spoke against the backdrop of allegation levelled against the men Teller of SARS in the state of forcing members of the public to use their Automated Machine Cards (ATM) to withdraw money for them upon arrest on flimsy excuses in Ilorin yesterday however urged the members of the public to resist any form of rights violation meted against them by operatives of the Special Anti-robbery Squad (FSARS) and other policemen in the state. The police boss who said the command is committed to “the respect of the rights of the good people of Kwara State, directed SARS operatives to “at all times adhere strictly with the stated rules of engagement in addition to the ethics of good conduct of the Nigeria Police Force.” In a statement issued and signed by the state Police Public Relations Officer (PPRO), Ajayi Okasanmi, Amore advised members of the public who suffer any form of rights violation to report such to the police authority in the state. The statement read: “The Special Anti-robbery Squad (FSARS) of the Kwara State Police Command has been directed by the Commissioner of Police, Kwara State Command, Olusola E Amore, to at all times adhere strictly to the stated rules of engagement, in addition to the ethics of good conduct of the Nigeria Police Force. “Therefore, the public is advised to resist any form of intimidation and extortion by SARS operatives forcing them to collect money using their ATM cards and all other illicit tactics. “The public is also advised to report any unwholesome activities of SARS operatives and indeed other policemen. “Finally, the command restates its commitment to the respect of the rights of the good people of Kwara State.”

60

T H I S D AY • WEDNESDAY, OCTOBER 19, 2016

TRIBUTE

Dele Giwa’s Assassination: The Verdict of History Ray Ekpu, Dan Agbese, Yakubu Mohammedo October 19 this year marks the 30th anniversary of the gory assassination of Dele Giwa, the first Editor in Chief of Newswatch, Nigeria’s path-breaking newsmagazine. Dele’s life was cynically shortened by the novel method of a parcel bomb that was delivered to his house at No. 25 Talabi Street, Ikeja, Lagos on Sunday October 19, 1986 at mid-day.

Since then a lot of water has passed under the bridge. The matter has continued to be in the laser glare of the public eye. Those who did the dirty job may have thought that killing the famous journalist will be a quick job, quickly done and quickly forgotten. Yes, it was quickly done but obviously not quickly forgotten: 30 years down the road the matter is not dead.

It is alive and well and not ready to die any time soon.

However, over the last 15 years or so a man who played a tangential, supervisory role in the matter, Chris Omeben, has been doing his ineffectual best to mislead the public on the matter by playing footsie with the facts. Mr. Omeben who retired as Deputy Inspector General of Police in 1989 is now the Archbishop of Jesus Families Ministries. He will be 81 years old on October 27 this year.

With a frison of surprise this man has been effing and jeffing apparently championing the cause of his sponsors but his sloppy analysis is not receiving a storm of applause from the public. It is apparent that the public knows that this man is a truth-shredder. While he has the intuitive freedom to lie we have the obligatory duty to put the facts before the public, since he has been pointing accusing fingers in various directions. These include Florence Ita Giwa, Dele’s ex-wife, Kayode Soyinka, Newswatch London Bureau Chief at the time and Dele’s colleagues, Ray Ekpu, Dan Agbese and Yakubu Mohammed. His flippant gyration on the matter therefore deserves a multilateral response so that his lies will not be inadvertenly validated and the hard earned reputations of innocent people are not brought down by his swinging axe.

(1) Kayode Soyinka: Kayode Soyinka was the London Bureau Chief of Newswatch. He was in Lagos for an official business and lodged at Dele’s residence. Omeben has sought, vainly, to pin the assassination on him simply because he was in the study together with Dele when the parcel bomb exploded. Omeben says he sent out people to locate him but he could not be found. “We later learnt that he went out of the country through Idi-Iroko.” This is a farrago of lies.

Here are the facts: Kayode was sitting opposite Dele when his son Billy delivered the parcel to his father. When the parcel exploded at Dele’s attempt to open it, Kayode was thrown on the floor. His ears were damaged and he was hospitalised at First Foundation Hospital in Ikeja where Dele was rushed to after the incident. For more than a year Kayode’s ears were dysfunctional.

Mr. Omeben says that Kayode left the room where he and Dele were as soon as Billy Giwa brought in the parcel. He says Kayode stayed out until the parcel exploded. “It was while he was there in an adjacent room that the parcel detonated; the metal partition separating the dinning room and the kitchen was destroyed.

Lies! Omeben thinks that since the two men were said to have just had breakfast, the breakfast session was in the dinning room. And dinning rooms are more often than not near the kitchen.

This is pure conjecture. They had their breakfast in the study, not in the dinning room and the study was not near the dinning room or kitchen.

Kayode was never in hiding. After the bomb explosion which rendered Dele’s residence uninhabitable. Kayode and members of Dele’s family moved into Ray Ekpu’s wing of the building. Dele and Ray lived in this twin duplex. Infact, Kayode was interviewed by several newspapers during the period that he was in Nigeria; he was interviewed by the police at least twice and he submitted written statements to them; he attended Dele’s burial at Ugbekpe Ekperi in Edo State along with other Newswatch staff.

Mr. Omeben has said that Newswatch directors shielded Kayode from being arrested by the police. This is a lie. Throughout the period of this incident Kayode was available. He was not a fugitive from justice. He was a victim of the dastardly act. If we prevented Kayode from being arrested by the police (and we deny it vehemently) why did the police not arrest us for obstruction?

If Kayode was considered a suspect in the matter why have the police not arrested him since then because criminal cases are not time

Giwa barred. Kayode has come to Nigeria very many times in the past 30 years without the police accosting him. Twice, he contested elections for the governorship of Ogun State, campaigning there for months on each occasion. Why was he not arrested by the police?

The allegation that Kayode escaped from the country through the NADECO route at Idi Iroko is nonsense. Kayode left Nigeria through the Murtala Muhammed International Airport on British Caledonian Airways accompanied by his wife and children who had to join him in Nigeria when they heard of the incident. This information can be crosschecked with the various authorities at the Murtala Muhammed Airport.

Before Kayode left Nigeria on Sunday, November 16, 1986, the police had come the day before, that is Saturday, November 15, 1986 asking him to make a statement on his movement between the day of the bomb blast and the time of his discharge from the hospital. He did. But curiously and fully aware that Kayode had left Nigeria the day before the police came on Monday, November 17, 1986 to say they had some more questions for Kayode. A letter signed by A. Kaltungo, Deputy Commissioner of Police was delivered to Ray Ekpu. The letter asked Kayode to report to the police on Wednesday, November 19, 1986. Ray

Murder is a criminal matter. Isn’t it curious, therefore, that people who are accused of murder should seek to run away from the opportunity to clear their “good names”.

We would have thought they would embrace such an opportunity warmly instead of engaging in legal gymnastics.

replied to the letter that same day informing the police (as if they didn’t know) that Kayode had returned to London. He gave the police Kayode’s London address and phone numbers.

It is elementary wisdom that no one could sit in a room where he knew a bomb was going to explode except he is a suicide bomber. And Kayode was not one. He had a wife and children and a flourishing career. His demographics do not fit into a sensible analyst’s silhouette of a suicide bomber.

For every crime there must be a motive.

Why would Kayode want to kill his Editor in Chief? If he killed Dele he would never have become the next Editor in Chief of the magazine.

He would have had to kill Ray Ekpu, Dan Agbese, Yakubu Mohammed, Soji Akinrinade, Nosa Igiebor, Dele Omotunde, Onome Osifo Whisky and a few other senior editorial staff to get to the Editor in Chief’s chair.

It is curious that a policeman who retired as a Deputy Inspector General of Police does not know that a murder allegation does not expire and that even if Kayode lives in London, Interpol could have got him to come to Nigeria and answer for the alleged crime if the Nigeria Police had concrete information on his involvement.

(2) Newswatch Directors: Ray Ekpu, Dan Agbese and Yakubu Mohammed. Mr. Omeben has alleged a couple of times that there was boardroom politics in Newswatch where the board members would want to eliminate themselves. The external board members of Newswatch were all successful businessmen who only invested in Newswatch because we the executive directors – Ray, Dan, Yakubu – were their friends. There was nothing for them to fight for in Newswatch.

But Mr. Omeben has mentioned the three of us a few times by name making allegations or insinuations that tend to give the impression that we were suspects in the case. This is a most uncharitable, wicked and despicable piece of defamation. In the first place, we never had any crisis of notable dimension that could have warranted the existence of a plot to kill our friend and business partner. If we killed Dele what would we get? His Newswatch shares?

We have our own. His wife? We have our own. His children? We have our own. The position of Editor in Chief? Most unlikely for four reasons: (a) Each of the four of us had been editor of a newspaper or two before we came together so the editorial chair did not offer such an overwhelming attraction for any of us to harbour the thought of physically eliminating our friend and business partner (b) All the four of us were on the same salary and allowances.

No one earned higher and no one earned lower than the other. (c) The positions in Newswatch

at its inception were determined by Ray and Yakubu. Both of them decided that since Dele and Dan were unfairly treated in their last offices in Concord and New Nigerian, it was wise to assert our confidence in the two of them by offering them the positions of Editor in Chief and Managing Director respectively. Ray and Yakubu opted to be called Executive Editors.

It was not a mark of anybody’s superiority or inferiority because we all took active part in the editorial activities of the magazine and had equal shares (15 per cent) in the company.

It was meant to be a confidence booster for the two men. (d) The three of us believe in the inviolability of friendship. We see it as a bank account to which you must continue to make deposits so that it can grow. It is a sacred relationship, a present of unquantifiable value that you must give to yourself. So our world view does not include killing your friend for whatever reason. No reason is good enough for “friend-ticide.” A lot of people ask us what is the magic behind our strong relationship of almost 40 years. The answer: friendship. We retired from Newswatch on May 5, 2011 but we are still together today, why? Friendship.

Since that fateful day of October 19, 1986 our lawyer, Chief Gani Fawehinmi, had made every effort, using the mechanism of the courts from High Court to the Supreme Court to bring the suspects to justice. At every turn that resolute and indefatigable fighter was harassed, assaulted, charged to court on trumped up charges so as to kill the matter.

Every effort was made by the Babangida government to kill the magazine and render us jobless by the proscription of the magazine in April 1987 on spurious charges. Our corporate and personal accounts were frozen. We continued to pursue the assassination issue with as much vigour as we could. On September 11, 1987 we wrote a letter to the then Inspector General of Police, Alhaji Muhammahu Gambo, reminding him about the Dele Giwa matter. We never got even the courtesy of a response from Alhaji Gambo. We also appeared at the Oputa panel with Chief Fawehinmi in Lagos and Abuja in pursuit of justice.

Worthy of note is the fact that Alhaji Abubakar Tsav, the investigating Police Officer, had testified at the Oputa panel on July 3, 2001 in Abuja.

He told the panel that in his interim report he had recommended that Col. Halilu Akilu and Lt. Col. A.K.Togun should be made available for interrogation and voice identification. He also recommended that their special privileges should be withdrawn so that a search could be conducted in their offices and residences for items of evidential value. The case file was submitted to Mr. Omeben. He never returned the case file to Mr. Tsav, nor did he reassign the case to someone else. He simply sat on the matter until he retired.

Since his retirement Mr. Omeben has been claiming that we had very powerful links in government so we were able to block the investigation. This view is quite flattering but it is patently false. We had no such influence otherwise we would have blocked the proscription of the magazine, our serial detentions for spurious reasons, the freezing of our accounts. Mr. Omeben’s words are aflame with dishonesty.

He is evidently a truth shredder who works as an echo chamber of his sponsors. But truth is like pregnancy: you can’t hide it for too long.

During the Oputa panel deliberations in 2001 Ibrahim Babangida, Akilu and Togun went to court and obtained an order restraining the Commission from summoning them to appear before it. Justice Oputa said that the Commission had the power to issue arrest warrants for the trio but decided against this “in the interest of national reconciliation”.

Murder is a criminal matter. Isn’t it curious, therefore, that people who are accused of murder should seek to run away from the opportunity to clear their “good names”. We would have thought they would embrace such an opportunity warmly instead of engaging in legal gymnastics.

However, the panel in its report stated: “As for the case of Dele Giwa we are of the view that beyond the legal technicalities that some of the key witnesses clung to, the federal government should be encouraged to reopen this case for proper investigation.” It stated further: “On General Ibrahim Babangida, we are of the view that there is evidence to suggest that he and the two security chiefs, Brigadier General Halilu Akilu and Col. A.K.Togun are accountable for the death of Dele Giwa by letter bomb. We recommend that this case be reopened for further investigation in the public interest.”

We urge the Buhari government to reopen the matter and ensure that the growing scourge of assassinations in the country is guillotined.

61

T H I S D AY •WEDNESDAY OCTOBER 19, 2016

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Ijaw Youths Demand Justice in the Killing of 3SC Player, Others LMC condoles with late Izu’s family, Shooting Stars

Emmanuel Addeh in Yenagoa Youths of Ijaw descent under the Ijaw Youth Council, (IYC) yesterday demanded that the military officers that killed Shooting Stars Football Club (3SC) defender, Joseph Izu and other youths from the Okarki community last Sunday must be fished out and made to face the law for the extra-judicial actions.

“We also demand that the military officers who carried out this extra-judicial murder be brought to justice. President Buhari and his government’s claim to the rule of law is on trial”, the IYC noted.

The IYC, headquartered in Yenagoa, Bayelsa State, said this yesterday while reacting to the shooting to death of the 24-year-old footballer who was allegedly killed by soldiers attached to the Joint Task Force, a special military outfit fighting militancy in the region.

The group further accused the Federal Government of treating the indigenes of the Niger Delta like animals and people of little importance.

Barely 48 hours after the sad incident occurred, the JTF’s Operation Delta Safe has not reacted officially to the killing as promised on Monday when newsmen first asked for their response to the allegation.

Spokesman of IYC, Eric Omare, insisted that the duo of Izu and Oko Osuekina were shot at very close range.

The Ijaw group disclosed that enquiries into the death of the late 3SC defender, and

one Oko Osuekina of Okarki Community, Ediro/Ogbologolo Clan in Ahoada West Local Government Area of Rivers State showed that there was no justification for the killings.

While expressing condolences to the victims’ families, the IYC warned against continued military action in the Niger Delta which it said had led to several unnecessary deaths.

The group argued that the killing of the two men was symptomatic of the disdain with which the military treated the Niger Delta people.

“The corpse of Oko Osuekina, who was shot by the military officers on his forehead at the same time with Izu Joseph, was found floating on the Okarki River some few hours ago,” said the group yesterday.

According to the IYC, its leadership has been informed by the IYC Clan Chairman of Ediro/Ogbologbo Clan, Mr. Solomon Harrison, that the entire Okarki Community had become tense since the incident.

“The IYC is at a loss as to the justification for the military impunity in Okarki Community. The military is behaving as if the Ijaw people of Okarki are not human beings. Our people are being treated like animals that must be killed,” the group maintained, while decrying the alleged lack of professionalism in the handling of militancy in the oil-rich region.

Meanwhile, Chairman of the League Management

LAGOS GOV’S CUP TENNIS

Enosoregbe, Other Nigerians Face Tough Opposition in 2nd Round Nigerian players face tough oppositions in their second round matches as they aimed for the top prize of the second leg (Futures 6) of the ongoing Governor’s Cup Lagos Tennis Championship.

Clifford Enosoregbe will battle Tunisian Moez Echargui in one of the matches at the Lagos Lawn Tennis Club, Onikan today. Sylvester Emmanuel will have his hands full in his match against the tournament number one seed in the men’s singles, Enrique Lopez-Perez from Spain.

Thomas Otu will play against number 8 seed, Polish Maciej Smola, while Joseph Imeh Ubon will face Boy Westerhof from the The Netherlands, who is the tournament number 6 seed.

Mohammed Mohammed will slug it out against Sasi Kumar Mukund of India.

In other fixtures of the men’s singles in the second round,

Gianni Mina of France will battle Fokina Davidovich from Spain.

In the women’s singles, top seed, Greek Valetini Grammatikopoulou will play against Fanny Ostlund from Sweden, runner up in the first leg final, Conny Perrin faces Alexandra Riley, Rosalie Van Der Hoek of The Netherlands will battle Andrianjaftrimo Tessah from France. Lyra Shroff of India will fight against Ukraine’s Valeriya Strakhova, while Harmony Tan of France will battle Fatma Al-Nabhani from Omar. Slovakia’s Tadeja Majeric will face Akilah James of Grenada Meanwhile, the concluding first round matches decided on Tuesday saw Nigerian players failing to meet up to expectations. Henry Atseye lost to Calvin Hemery in straight set of 0-6,3-6.

Nigerian Professional Football League (NPFL) Champions, Rangers International of Enugu celebrating a win during the 2015/2016 season. Now, players union, NANPF, is threatening to stop the Flying Antelopes from representing Nigeria at CAF Champions League over unpaid backlog wages Company (LMC), Shehu Dikko Monday afternoon spoke to the grieving Pa Reuben Izu, father of late Shooting Stars defender.

While commiserating with Pa Izu, Dikko assured the family that the LMC will support them and also spoke to the General Manager of 3SC, Rasheed Balogun.

On reading the report on a social media platform, Dikko had placed a telephone call to Pa Izu and afterwards to Balogun, the General Manager of 3SC. “This is quite a shocking development. Players have been central to the new awakening of passion for the NPFL and all of them should

live to see this league achieve full blossom.

“Well, death is also inevitable and will eventually come to all of us.

“On behalf of the entire NPFL family, please accept our heartfelt condolence and kindly extend our expression of sympathy to the family of the late Izu”, concluded

the LMC chairman on a philosophical note.

He also charged Balogun to keep the LMC updated with information on the plans for the burial.

The late player joined 3SC in the 2013/14 season from Bayelsa United and had just completed his third season at the Oluyole Warriors.

Players’ Union Tackles Rangers, Others over Outstanding Salaries Threatens clubs with expulsion from CAF competitions Duro Ikhazuagbe Champions of the 2015/2016 Nigerian Professional Football League (NPFL) season, Rangers International Football Club of Enugu and runners up, Rivers United FC of Port Harcourt are on the verge of losing their spots in the CAF Champions League due to indebtedness to their players and officials.

Also listed to miss continental appearance is third-placed team in the just-concluded NPFL season, Wikki Tourists of Bauchi who is listed as one of Nigeria’s flag-bearers in the CAF Confederation Cup. The umbrella body for professional footballers in the country, the National Association of Nigerian Professional Footballers

(NANPF), yesterday warned the three clubs that they stand to be disqualified from the 2017 Confederation of African Football (CAF) competitions if they fail to settle all outstanding debts owed players and coaches.

National Public Relations Officer of the body, Ogidi Mohammed Mutairu, insisted yesterday that Rangers International FC, Rivers United FC, and Wikki Tourists FC must settle the debts or risk being dragged before CAF for the invocation of the Article 3.1of the CAF Club Licensing Regulations.

“We are therefore insisting that this culture of clubs depriving players and coaches of their livelihood must stop,” the statement noted.

A statement from NANPF

reads in part: “In the light of the above, we as the recognised labour union passionately championing the cause of professional footballers in Nigeria are concerned that in the midst of the jamboree and fanfare that followed the achievement of these clubs, the purported cash gifts and allocations to these clubs following their success, they (club managements) seemed to have sworn to starve players and coaches of their salaries and as usual disobey NFF Arbitration Committee decisions.”

“Consequently, we have written to these Nigerian clubs that qualified for 2017 CAF competition and their Commissioners for Sports in the respective states, clarifying

the following: That It is in the best interest of the players, coaches, the clubs, the country and image of the game, that the management of these clubs liquidate all these debts to current and former players and obey the NFF arbitration decisions without delay.

“That refusal, delay or neglect of payment is a “mortal sin” that will lead to unintended consequences and embarrassments, as these clubs will have to contend with CAF in express breach of Article 3.1 of the CAF Club Licensing Regulations.”

The players’ union claimed to have received complaints from players and coaches that they are heavily owed salaries including those of 2014/2015 season.

62

T H I S D AY •WEDNESDAY OCTOBER 19, 2016

WEDNESDAYSPORTS C H A M P I O N S

L E A G U E

Leicester Maintains Unbeaten Run, Real Batters Legia English Premiership champions, Leicester City are on the brink of qualifying for the Champions League knockout stages after a 1-0 win over Copenhagen yesterday continued to defy their domestic woes and kept up a perfect record in Group G. For the third time this term Leicester went into a Champions League game on the back of a heavy Premier League defeat but they shrugged off the disappointment to secure a third straight win in the competition thanks to Riyad Mahrez’s 40th-minute goal.

It was no vintage show from Claudio Ranieri’s men, who lost 3-0 at Chelsea on Saturday, although they were unfortunate not to triumph by a bigger margin after Islam Slimani had a goal harshly ruled out for offside in the second half.

In Madrid, defending champion, Real Madrid ensured that minnows, Legia Fc of Poland maintained their pointless record in the group with an emphatic 5-1 win at

the Santiago Bernarbue.

Once the action got underway, Madrid had way too much firepower as Gareth Bale, a Tomasz Jodlowiec own goal and Marco Asensio handed the hosts a comfortable half-time lead despite Miroslav Radovic’s penalty.

Lucas Vazquez and Alvaro Morata came off the bench to round off the scoring after the break.

Dortmund beat Sporting Lisbon 2-1 in the other game in the group, meaning Madrid and the Germans remain tied at the top of the pool on seven points.

Elsewhere on the night, Tottenham goalkeeper Hugo Lloris made a string of saves to secure a Champions League draw against Bayer Leverkusen.

The France international superbly kept out Javier Hernandez’s close-range shot, and pushed away low drives from Stefan Kiessling and Charles Aranguiz.

Dele Alli should have done better at the other end when he powerfully headed wide from six yards out.

Riyad Mahrez (right) scored Leicester City’s lone goal in the 1-0 victory over FC Copenhagen last night

Guardiola Returns to Camp Nou against Barca’s MSN Pep Guardiola’s formidable managerial skills will be put to the test again when his stuttering Manchester City side visits his former club Barcelona in a top-of-the-bill Champions League clash tonight.

Former Barca captain Guardiola, the Catalan club’s

most decorated coach with 14 trophies in a scintillating four-year spell, is set for his latest emotional return to the Nou Camp.

He has been there as a visiting coach before when his Bayern Munich side lost 3-0 in a Champions League semifinal last year and now

he faces an equally daunting task with City.

Guardiola’s brilliant start in England which saw him oversee 10 consecutive wins in all competitions has given way to a run of three games without victory, the latest seeing City miss two penalties in a 1-1 draw at

home to Everton on Saturday.

The Premier League leaders trail Group C pacesetters Barca by two points following a thrilling 3-3 draw at Celtic in their last Champions League outing but Guardiola said he would not settle for another draw against his former club.

RESULTS

TODAY

Leverkusen 0 - 0 Tottenham

Napoli vs Besiktas

CSKA 1 - 1 Monaco

D’Kyiv vs Benfica

Brugge 1 - 2 Porto

PSG vs FC Basel

D’Zagreb 0 - 1 Sevilla

Celtic vs M’gladbach

Leicester 1 - 0 Copenhagen

Barca vs Man City

Lyon 0 - 1 Juventus

FC Rostov vs Atlético

Real Madrid 5 - 1 W’Legia

Bayern vs PSV

Sporting 1 - 2 Dortmund

Arsenal vs Ludogorets

Lagos State Endorses Heritage Egypt Dares Nigeria in Morocco Bank Skoolympics Project ITTF AFRICAN CHAMPIONSHIPS

The defeat Egypt suffered against Nigeria in the final of the men’s team event of the 2015 African Games is still fresh in the memory of Omar Assar and the Egyptian believes this year’s ITTF African Senior Championship would help to settle score against the West African giant.

Apart from the team event heartache in Congo Brazzaville, Assar has revenge in his mind against Aruna Quadri, whom he said has been in fine form lately.

“I do believe that Egypt is the strongest country in Africa and I trust my teammates and coaches that we can show that in Morocco. I look forward to the classic final between Egypt and Nigeria, which has always been very fun to play and to watch as well for the spectators.

“I have been preparing very well for this event and

I am looking forward to a great performance. I had two weeks of physical, mental and technical preparation in Germany where I had my last training camp so I can say I am waiting for my good performance in Morocco,” stressed the African star.

Assar however admits that Quadri is in fine form and that the battle in Morocco will be fierce.

“I must admit that Aruna Quadri has played in top level recently in the French league and international events, so it will be interesting to see our match in Morocco especially in the men’s singles. I expect a good start with my teammates in team event first, then in singles I am very hungry to display a very good performance.”

“For sure, when it comes to Egypt and when you represent Egypt, you always look for

gold not only in Africa but everywhere else. I must also say that our women team is very strong and stable, however some injuries can affect the team but I see that there are some new young stars are coming now and they are fresh and hungry to win. Also Dina Meshref has been playing in such a high level tournaments and she showed that she is one of the best African female player at all time.”

“Table tennis in Africa has taken a different shape since the new board of African Table Tennis Federation (ATTF) came on board because there have been conscious efforts to promote the sport and I am very happy that I can see that ITtv is covering the African events almost everywhere. But we are waiting for much more and expecting more promotion locally in Egypt and Nigeria.”

Lagos State Government has endorsed the Heritage Bank Skoolympics project, an initiative of Heritage Bank Plc, aimed at building a heritage of champions through youth sports competition at the secondary school level Special Adviser to the Lagos State Government on Sports, Mr. Ayodeji Tinubu, gave the endorsement at a stakeholders meeting held at the corporate headquarters of the bank in Lagos recently, noting that Heritage Bank is the only bank at the moment that is undertaking such a lofty and premium sporting project in the state, which maiden event will take place from November 2 to 4, 2016.

He said, “We are very excited at the project because it will help to develop youths in the state in a disciplined

manner,” adding that we have mobilized and created awareness among students in the state for the project and were looking forward to it.

He said the Heritage Bank Skoolympics was a “very fantastic idea” and that the state was interested in the “pre, during and post event activities because it intended to expose the beneficiary students to proper mentoring and counselling.”

Tinubu, who also doubles as the chairman of the Lagos State Sports Commission said the state government was building a sports culture in the state as it is in most metropolis, through the creation of an enabling environment for sustainable sporting activities to thrive in a variety of sports events, in a bid to cater for the passion

of majority of the citizenry.

Also speaking, the Brand Ambassador of Heritage Bank Skoolympics, Chief Mrs. Mary Onyali, said, “I was really moved when I was approached to be the ambassador.”

She urged the stakeholders to make the Heritage Bank Skoolympics a continual project, as it consist of concepts that would benefit Nigerian children.

Earlier in her address of welcome, the Executive Director, Lagos and Southwest/Corporate Banking of Heritage Bank, Mrs. Mary Akpobome, who stood in for the Managing Director, Ifie Sekibo, affirmed that the bank was spearheading the noble project in the state because Lagos State has been known to be successful in driving sports initiatives.

Super Soccer Federation Organises Seminars for Coaches Eggheads of the Super Soccer Federation of Nigeria on Friday at the Nigeria Institute for Sports, NIS, organised seminar for coaches in Lagos to keep them abreast of the rules guiding the sports.

The seminar, which was anchored by the initiator and International President, Super Soccer, Eric Iheanacho Asomugha, took the coaches through the drills and rules of the game.

Asomugha said Super

Soccer, though is an independent body, and has been in existence in countries like Egypt long before now.

The former CAF official said Super Soccer is an alternative to the traditional

soccer and he strongly believes that the game would become great and acceptable very soon.

“One of my main objectives is for Super Soccer to have a big presence in the United States and Africa,”

Asomugha said.

Some of the coaches are expected to go for further training in Egypt and the United Stated later.

Unlike the traditional football that features 11 players, Super Soccer

features nine players and a goalkeeper, with four referees.

Super Soccer was first test-run in Lagos last month at the Legacy Pitch of the National Stadium, Surulere, Lagos.

63

T H I S D AY •WEDNESDAY OCTOBER 19, 2016

WEDNESDAYSPORTS WORLD CUP 2018 QUALIFIER

FIFA Clears Bordeaux Star for Algeria Top star, Abeid, laments uncertainty in Uyo

Olawale Ajimotokan in Abuja Algeria was yesterday boosted in its bid to outshine Nigeria on November 12 in a Russia 2018 qualifying fixture in Uyo, after FIFA cleared Bordeaux player Adam Ounas to switch nationality to Algeria.

The 19-year old attacking midfielder had already represented France at U-20 level and was keen to bolster the ranks of the Fennec Foxes by switching his allegiance to his parents’ country of origin.

Bordeaux announced the switch Tuesday via its official Twitter account. The development would inspire Algeria from the prevailing gloom as Ounas became the third player to join them in nationality switch after Yassine Benzia (Lille, France) and Smain Benaceur (Arsenal, England).

The North- Africans are presently blowing cold after the abrupt resignation of coach Milovan Rajevac following the shock triggered by the 0-0 draw at home against Cameroun, which has put added pressure on the team

after Nigeria beat Zambia 2-1 in Ndola to top Group B. Milovan, who was employed six months ago, resigned after only two games in charge, prompting Algerian FA President, Mohamed Roauraoua, to install caretaker coaches and intensify the search for a foreign gaffer.

It is this growing uncertainty that has also made another Algerian player, Mehdi Abeid, to voice concern by acknowledging the effect changing the coaching staff could have on the team.

The Dijon midfielder told French FF News TV that it was difficult to adjust to tactics under a new coach, especially in the middle of a World Cup qualifying test The former Newcastle player, who has already been invited for the trip to Nigeria, however, noted that he would have to adjust by proving to the new coaches that he is up to the task.

“It is difficult to constantly change coaches, but we have to readjust, to prove to the other coach that you have a place in the team. It is

particularly difficult for the team to have changes like that, especially during qualification for the World Cup. This is

the last British athlete to win one of the IAAF’s end-of-year awards.

Apart from Bolt, Farah faces competition from the like of and South Africa’s Wayde van Niekerk who set a new world record in the 400m at the Games in Brazil.

The winner of both the male and female athlete of the year awards will be announced at the IAAF awards dinner in Monaco in December.

The last Briton to win

the men’s award was triple jumper Jonathan Edwards in 1995, the year in which he jumped 18.29m, which is still the world record.

The 25-year-old Semenya won gold in Rio to add to her silver medal from London 2012.

Her rivals include Ethiopia’s Almaz Ayana, who broke the 10,000m world record by over 14 seconds in Rio, and Spain’s Ruth Beitia, who won Olympic high jump gold aged 37.

Edo, Oyo Qualify for Etisalat U-15 National Finals Asegun Comprehensive Secondary School, Ibadan, Oyo State, and Niger College Junior School, Benin City, Edo State, have qualified for the Etisalat U-15 School Cup football competition after emerging champions at the Ibadan Centre.

The Edo and Oyo team outclassed schools from Ekiti, Ondo, Lagos, Ogun and Osun states at the Lekan Salami Stadium, Adamasingba and Wesley College playing

ground, Elekuro to win the tickets to the National Finals billed for Lagos in November.

Oyo defeated Osun State with the a solitary strike from Abdul Rasheed Qudus in their first game before walloping Ogun State 5-1 in their second game with Qudus again scoring a brace and providing two assists before edging Lagos team 1-0 in their last game.

Similarly, Edo maintained

an unbeaten run throughout the qualifiers after successive victories over Delta, Ondo and Ekiti states, scoring a total of eight goals and conceding just one.

Meanwhile, schools from Kwara, Kogi, Nassarawa, Niger, Plateau, FCT, Benue and Cross River states have started battle for the two slots available at the Ilorin regional qualifiers which started yesterday at the Ilorin Township Stadium

‘EPL Not More Intense than La Liga, Bundesliga’ Manchester City manager, Pep Guardiola, has scored the German football very high stressing that the way they play in Germany is amazing.

The Spaniard, who has coached Barcelona in Spain and Bayern Munich in Germany, also rubbished claims that the Premier League is the most intense league in the world.

“I hear a lot of times about the intensity of the Premier League when none of you have been in La Liga or the Bundesliga to know how it is,” Guardiola said.

“The problem here is maybe that there are more games but the way they play in Germany is… (whistles)… it’s amazing. I think you have to have respect for the other leagues, how they play and the way they play. “Of course Barcelona is special in how they play, like a machine.

Three amazing players in front, good counter-attack, the way they build-up, so when they win 4-0 it’s because they deserve to win 4-0.

“I think every league has its points but especially it’s

by taking one game after the other as they know that Russia is still within a touching distance.

‘’We have a good team with great players. For us to do the job, we will have to fight to the end. “

Chairman, Old Trafford (OT) Squash Club, Larry Ephraim Ettah (2nd Right), presenting the winner’s prize to Captain OT, ‘Biyi Mabadeje, at the one-day Rumble hosted by the Club in honour of Taye Ige (Middle) who turned 53 Years old recently.

With them are Capt. Shina Akinfenwa, (1st Right), Prince Adedayo Adesanoye (2nd Left) and Chief Chike Ezeagabu (1st Left); co-sponsors of the tournament

Bolt, Mo Farah, Semenya Nominated for Athlete of the Year Awards Jamaican sprinter Usain Bolt - a nine-time Olympic gold medallist , Great Britain’s Mo Farah and South Africa’s Caster Semenya are among athletes nominated for IAAF’s Athlete of the Year Awards Bolt broke Michael Johnson’s 17-year-old 400m world record to claim victory in Rio while Mo Farah, 33, secured a historic ‘double double’ by retaining both his 5,000m and 10,000m Olympic titles at Rio 2016.

Paula Radcliffe, in 2002, was

not something that is easy, It will be tough,’’ Abeid echoed.

However, he said that Algeria would remain focused

the quality of the players and that’s the reason why.

“In Spain in the last seven, eight, nine years they’re winning or in the final of all the European competitions because they play well, because they have good players. That is the reason why. “Here, (England) there are more games to play, but the intensity in Italy, in all of these places, is the same.”

Both the Bundesliga and Serie A are exclusively available on StarTimes pay TV in Nigeria.

Mbuko, 11 Female Pros Storm Equatorial Guinea Open Olawale Ajimotokan in Abuja Nigeria’s only active female professional golfer, Uloma Mbuko, will compete in the 3e Actuaries Equatorial Guinea Open Championship from December 5 through December 12 in Mongomo.

Mbuko, who turned professional in January 2008, will contend against 11 opponents in the event expanded to accommodate female golfers for the first time since the tournament began in 2013.

The teaching professional at IBB International Golf and Country Club, Abuja is reputed for dominating the Nigerian amateur rank with a harvest of victories at Nicon Hilton Open, Benin Ladies, IBB Ladies Open, Ikeja Ladies Open, Ikoyi Ladies Open and Air Assault Ladies Open among others.

The national open championship of Equatorial Guinea will be played on the alluring Presidential Golf Course, Mongomo, the theatre for the last two

editions.

Mongomo is the home town of Equatorial Guinea President Teodoro Obiang Nguema Mbasogo, who hosted the last two editions to give a boost to the profile of the tournament.

The total purse of $50,000 will be split among the ladies with the overall winner after three days of intense competition, will take home $26, 000, while the second position will receive $10,000. In the worst case scenario, Uloma will be guaranteed of a share of $1,000 if she is the 12th player on the leaderboard.

The tournament is facilitated by Olawale Opayinka of 3E Actuaries and the focus on the ladies is to develop the female game and firm up interest in golf among the local Equatorial Guinean women.

The female list made available to THISDAY last night comprises, Jean Chua, Malaysia; Jane Turner, UK; Charlotte Austwick , UK; Paula Hartado, Colombia; Rachael Goodall, UK; Uloma Mbuko, Nigeria and Anna

Rossi, Italy.

The rest are, Roigh Kyle, US; Leigh Whittaker, Germany; Luna Sobron Galmes, Spain; Modisha Bella, South Africa; Miriame Ndiaye, Senegal and Chiara Brizzolari, Italy.

The male field will feature 48 players of diverse nationalities including Brazil, UK, Nigeria, Spain, France, Ghana, Uganda, Morocco, Cameroun, Gabon, Ivory Coast and Portugal among others.

Defending champion, Oche Odoh of Nigeria who banked $15,000 last year, will lead the pack playing for the total amount of $100,000 over 72 holes.

Odoh held back the firepower of Ebela Desire of Cameroun, Lewis Parker of UK and Ghana’s Emos Korblah to win an entertaining contest by four shots at 8 under par.

He will be joined by seven other Nigerian wild cards namely, Sunday Olapade, Gift Willy, Kamalu Bako, Morgan Atako, Francis Christopher, Michael Ubi and Mohammed K. Haruna.

American Tycoon Buys Marseilles American businessman Frank McCourt has bought French Ligue 1 club Marseille for 45m euros (£40.6m).

McCourt, who previously owned the Los Angeles Dodgers, told L’Equipe he planned to invest 200m euros (£180m) in the club

over the next four years.

Nine-time Ligue 1 winners Marseille, who finished 13th last season, are 12th in the table after nine games.

“Today a new chapter opens in the great history of Olympique de Marseille,” said McCourt, 63.

“We’re going to put our club back on the road to glory.”

Last season, angry Marseille fans criticized then owner Margarita Louis-Dreyfus, describing her as an “incompetent rich heiress”.

Wednesday October 19, 2016

TR

UT H

& RE A S O

Price: N250

N

MISSILE

NJC to DSS

”That the Department of State Services is an agency in the presidency and its functions as specified in the statute establishing it, is primarily concerned with the internal security of the country. That the action of the DSS is a denigration of the entire judiciary, as an institution. That by the act of the DSS, judicial officers are now being subjected to insecurity, as criminals might take advantage of the recent incidents to invade their residences under the guise of being security agents” – The National Judicial Council (NJC) telling the Department of State Services (DSS) that it has no right to invite any judicial officer without complying with the rule of law and due process.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

As the Chibok Girls Return...

S

enator Shehu Sani, who obviously knows more than many of us about the negotiation leading to the return of the abducted Chibok girls, has urged caution in handling the matter. There is a lot of sense in the senator’s position because with the return of the 21 of the girls last week there are high prospects that 83 more of the girls may soon regain freedom from the Boko Haram captivity. As we rejoice with the parents of the 21 lucky girls who are back home, our thoughts should continue to go to the other girls who are still held hostage in the Boko Haram war. The matter is even made more complex by the fact that like many things in Nigeria the discussion of the Chibok girls’ abduction is bedeviled with the problem of counting. It is only safe to say that counting the girls who had escaped earlier and the latest batch of 21 whose return was reportedly negotiated, more than 100 of the girls are yet to return.

It is 919 days today that the abduction took place. The occasion should be used to bring into focus once more the issues hitherto thrown up by the sad story of the Chibok girls. There is the primary question of the constitutional responsibility of the Nigerian state to ensure the security of all citizens including the schoolgirls.

The manner in which the matter has been handled in the last 919 days speaks volumes about how much the Nigerian state is alert to this cardinal duty of the state anywhere. The attention of President Muhammadu Buhari as the Commander-in-Chief should be constantly drawn to this incontestable point.

Besides, the public response to this tragedy has brought out humanity in a dialectical contestation with inhumanity in this grossly selfish society. To demonstrate this point, it might be useful to recall what this reporter wrote in this column when it was 261 days that the girls had been abducted.

The reflection on December 31, 2014 was as follows: “So the year ends today without the return of the Chibok girls to their parents! This distressing turn of events should worry the government and people of this country a great deal as the year is viewed in retrospect. Since that terrible night of April 14 this year, the phrase, Chibok Girls, has become the sore shorthand for the abduction of over 200 girls from the Federal Government College, Chibok in Borno State.

After spending 261 of the 365 days of the year in captivity, at least 219 of the poor girls are yet to be rescued from their callous abductors.

It is even more troubling that no one could give an account of the actual state of things with the girls.

“It is indeed an end-of- the-year sad commentary on the conduct of the war that the murderous group, Boko Haram, is waging against Nigeria. To imagine how sad the commentary has become, you only need to put yourself in the painful shoes of the parents and guardians of these helpless Nigerians who have tragically become the most publicised victims of the Boko Haram war. Some ‘commentators and public affairs/security analysts’ are wont to rationalise even the most absurd events. According to these rationalisers, ‘we should not be sentimental’ about the tragedy of the Chibok girls. If the abduction of over 200 schoolgirls does not provoke sentiments among a people, what else should justify sentiments? Which parent having his or her daughter held by some terrorists

Return of the Chibok Girls in an unknown place and condition would remain unsentimental in response?

“The outrage on the abduction and the handling of their rescue is a legitimate sentiment. It is an attribute of a society imbued with humanity. The story of the Chibok girls is a poignantly open sore on our collective humanity. So let no one add salt to the injury by cautioning against sentiments. Any one with a modicum of humanity in him or her should be sentimental about this national tragedy.

“Now, the Boko Haram insurgents have exploded bombs killing thousands of people and maiming several others. The insurgents have abducted hundreds of people including the Chibok schoolgirls. The violent activities of the group have led to the destruction of property worth billions of Naira. Indeed, the economy of the northeast especially has been put in a state of suspended animation by the devastation wrought by this group. Millions of Nigerians are also internally displaced.

About 30 births have been recorded among the displaced persons in recent weeks.

“By the way, another unsettling aspect of the story is that valid statistics about this national disaster are hardly available. However, none of these heinous crimes of Boko Haram (reported or otherwise) has attracted more global attention than the holding of the Chibok girls in captivity. Terrorists employ what in the theory of anarchism is called ‘propaganda by the deed.’ Future historians of the Boko Haram war may one day record that no deed of the insurgents provided greater propaganda than the abduction of the Chibok girls. The solidarity of the whole nation should go to all those who are bereaved as result of the mass murders committed by Boko Haram as well as those maimed and abducted. As the year ends on this sad note, the solidarity of the whole nation should also go to the Chibok girls and their parents.

“A nation could go to war because of one girl. That is how patriotism is engendered. A girl who knows that her nation would go any length to save her life would most likely grow up to become an ardent patriot. The brave Malala Yousafzai is a soul. She survived an assassination attempt by terrorists in her home

country, Pakistan. Her ordeal attracted global attention with the concomitant solidarity. Malala is today a Nobel Laureate for her activism in promoting the female education. The other day, she visited Abuja and was received by President Goodluck Jonathan in Aso Rock. In Nigeria, 219 schoolgirls have not been properly accounted for and some cynics dare suggest that the nation ‘should move on’ on the matter.

Well, the nation may choose to move on, but the pain in the heart of the parents of these girls will not move an inch especially given the manner in which matter has been handled.

“The defence authorities have become unduly sensitive to the criticisms of their prosecution of the Boko Haram war. Yet they should be told that the handling of the abduction of the Chibok girls has been less than satisfactory.

Within a month of the abduction, defence spokesmen announced that most of the girls had been rescued. This cheery statement was withdrawn shortly after it was made, in a way that was bereft of accountability to the public.

Some months ago, the Chief of Defence Staff, Air Chief Marshal Alex Badeh, told reporters to ‘leave us alone’ as the military authorities knew the ‘location’ of the girls.

“Without prejudice to the secrecy of military operational procedures, there is hardly any official update to the public on the matter of the Chibok girls. The last time there was a categorical statement in respect of the Chibok girls was when the public was fed with the tales of a ceasefire with Boko Haram that never was in the first place. The release of the girls was alleged to be one of the terms of the ceasefire. The military authorities owe the public more explanations on this matter. This demand should not be misconstrued as asking them to discuss their operational strategies on the pages of newspapers. All that is required is to humanise defence briefings as it is done in other civilised societies.

“The other sore point is the inexplicable hostility by government officials to those who have elected to uphold our collective humanity by sustaining a campaign for the recue of the Chibok girls. The counting of the days of the girls in captivity is even offensive to some government officials and politicians. It is

disheartening watching on television ministers visibly irritated at the protest march by the #BringBackOurGirls (BBOG) group. Instead of joining hands with their compatriots in the group in solidarity, they respond with verbal assaults.

“You wonder in what way the BBOG campaign is inimical to government’s interest!

It is charitable to assume that the government is concerned about the condition of the abducted girls and working hard on their rescue. In that wise, the noble activities of those making personal sacrifices to keep the matter in public view should be seen as complementary to the official steps. What then is the basis of the official antagonism to the efforts to keep the matter in public view? The campaigners are simply saying that this nation should not ‘move on’ with the fate of the Chibok girls unknown.

No humane nation can so easily ‘move on’ on such matters.

“For clarity, it is also important to stress that the issue of the Chibok girls is beyond partisanship. It is indubitably a Nigerian problem.

It is not just the headache of the government or a political party. It should, therefore, offend the sensibility of all decent people when the tragedy is politicised or trivialised. In fact, the wish of all persons of goodwill should be that the girls are rescued before the election so that no one would say the election is a referendum on the Chibok Girls or indeed the tackling of the insurgency.

“Meanwhile, the military authorities should be supported by the affected local and state governments in ensuring the return of the Chibok girls and indeed in defeating terrorism in the land. Yes, there are shared responsibilities in this matter. But the ultimate responsibility is that of the Commander-in-Chief when hundreds of girls are abducted in a place where a state of emergency is imposed. The whole nation should, therefore, be unambiguously behind the Commander-in-Chief in this war in which the Chibok girls appear to be helpless hostages.

Both the government and opposition should acknowledge this inescapable fact in their rhetoric in the coming weeks of campaigns for the 2015 elections.”

As they say, a lot of water has passed under the bridge since the foregoing lamentation appeared on this page on December 31, 2014.

But some things remain the same. The BBOG has continued valiantly to keep the plight of the girls in public focus. Ironically, the official hostility experienced by BBOG from the Jonathan administration has continued in this dispensation.

It is a measure of the humanity residing in this country that some persons still deny the abduction of the girls all in the name of politics.

When the sad story was still fresh more than two years ago government officials, politicians and their media epigones callously asked: ‘are you sure any girl is missing’?

Even a state governor said in a most irresponsible and inhuman manner recently that the abduction of the Chibok girls was all a political game. It is a great pity that because of the impunity that reigns supreme in this country, none of these callous public officials would be held accountable for public deception and hate speech now that girls are returning home.

For now, let us hope that the other girls still captivity would soon return to the warm embrace of their parents.

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com