Wednesday 16th November 2016

Senate Returns List of Non-career Ambassadorial Nominees, Clears Career Diplomats Saraki confirms MTEF, borrowing plan have been returned to executive

Omololu Ogunmade in Abuja In line with the outcome of Monday’s meeting between Vice-President Yemi Osinbajo, five governors of the All

Progressives Congress (APC), Senate President Bukola Saraki and the Speaker of the House of Representatives, Yakubu Dogara, the Senate yesterday cleared the

47 career ambassadorial nominees whose names were sent for confirmation last June, but returned the recent list of non-career diplomats to the presidency,

citing a plethora of petitions against some of them.

THISDAY had exclusively reported yesterday that at the Monday meeting held in the State House, Abuja, it was

agreed that the Senate would separate the names of career diplomats whose names had been sent to the Senate for screening and confirmation, while the list of non-career

ambassadorial nominees would be withdrawn for review by the state governors.

Continued on page 6

FG, N'Delta Parley in Disarray as Avengers Bombs Agip, Oando, Shell Trunklines… Page 52 Wednesday 16 November, 2016 Vol 21. No 7881. Price: N250

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Dasuki Declines Govt’s Offer of Temporary Release to Bury His Dad Says DSS should obey court orders granting him full freedom Buhari, Tambuwal, Sultan Abubakar mourn Ibrahim Dasuki’s passing Tobi Soniyi in Abuja and Mohammed Aminu in Sokoto The federal government yesterday absolved itself of blame as to why the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd), was not allowed to attend the burial of his father, the 18th Sultan of Sokoto, Alhaji Ibrahim Dasuki who died on Monday, saying

See More Condolence Messages on Page 55 that his son had vehemently rejected the offer for his temporary release.

However, it has emerged that Sambo Dasuki turned down the offer to avoid the ordeal of arriving Sokoto with Continued on page 6

Another Commanding Officer, Eight Soldiers Killed in Boko Haram Ambush Senator Iroegbu in Abuja

Nigerian troops suffered another setback yesterday in the quest to root out Boko Haram remnants from the North-eastern part of the

country, with the reported death of the Commanding Officer of the 114 Task Force Battalion, Lt.-Col. B.U. Umar.

Continued on page 8

FG Declares ASUU Strike Unconstitutional, 18TH SULTAN LAID TO REST body of Sultan Ibrahim Dasuki on arrival at the Sultan Muhammad Bello Mosque ahead of the Islamic funeral Appeals to Union to Shelve Action… Page 54 The rites in Sokoto... yesterday

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PAGE SIX DASUKI DECLINES GOVT’S OFFER OF TEMPORARY RELEASE TO BURY HIS DAD a retinue of DSS operatives who would have been detailed to accompany him and take him back into custody.

Despite three court rulings ordering his release, Dasuki has been in the custody of the DSS for almost a year on allegations of corruption and that he constitutes a security threat.

The Minister of Interior, Abdulrahman Dambazau, yesterday explained that the former NSA had rejected the offer by the DSS to attend the funeral of his father.

Speaking with journalists shortly after paying a condolence visit to the Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III in Sokoto, Dambuzau said the former NSA was given the opportunity to see his ailing father at a hospital in Abuja on Monday, but vehemently rejected the offer.

He also explained that the former NSA opted to pray for his late father while in detention.

However, lawyers to the Dasuki family confirmed to THISDAY that the former NSA had indeed rejected the offer because he considers his continued detention by the DSS as unlawful and did not want the temporary release offered by the DSS to attend his father’s burial with DSS operatives in tow.

The lawyers informed THISDAY that the late Sultan had tried to see his son as far back as January this year when he arrived Abuja from the United Kingdom, but was not allowed to see him.

“The former Sultan had arrived Abuja from London

and sought permission to see his son, but the request was turned down.

“Even a Koran he had bought for his son could not be given to Sambo because he could not see him.

“Similarly, about a week ago, he was asked by the DSS if he would want to go and see his father who was lying critically ill and possibly slipping away at an Abuja hospital, but Sambo rejected the offer on the grounds that his father’s condition was critical and was in a state where communication was no longer possible, and therefore there was no reason to go to the hospital to see him.

“Sambo also maintained that he was not guilty of any of the charges brought against him by the federal government and there were three court rulings ordering that he should be released by the DSS but they had all been disobeyed.

“It was for this same reason, coupled with the fact that it would have been too painful for him to arrive Sokoto heavily guarded by DSS operatives, that informed the former NSA’s decision not to attend his father’s funeral today (yesterday),” said the lawyers.

Speaking on the former NSA’s absence at his father’s burial yesterday, Dambazau said: “As Minister of Interior, I discussed the issue with the Director General of DSS, Lawal Daura, on the need to allow the former NSA to see his father in the hospital Monday night, but when he was given the offer he rejected it.

“As the first son of the

deceased, he was also offered the opportunity to attend his father’s funeral in Sokoto and even stay with his siblings and relatives throughout the mourning period but he refused.

“In fact, he opted to pray for his father while in detention.

So, this is the true situation.”

He disclosed that President Muhammadu Buhari mandated him and six other ministers to commiserate with the Sultanate Council and the people of Sokoto over the death of Sultan Dasuki.

Dambazau described the late Sultan Dasuki as a great man who left behind a good legacy.

“Sultan Dasuki has lived a good life and left a good legacy.

We pray God to forgive his sins and grant him paradise,” Dambazau added.

The Chief of Staff to the President and leader of the federal government delegation, Abba Kyari, did not utter a word, but presented a letter of condolence to the Sultan of Sokoto.

Responding, the Sultan thanked them for the visit and prayed for the repose of the soul of the deceased.

“We are grateful to President Muhammadu Buhari for sending this delegation to condole us over the death of Sultan Dasuki.

“This is a great loss to us. He is our father and his time has come, so we pray to God to grant him eternal rest,” Sultan Abubakar said.

18th Sultan Buried The remains of the 18th Sultan of Sokoto was buried around 3 p.m. at Hubbaren Shehu, the

burial site of the Caliphate’s nobility.

The funeral prayer, which was led by Chief Imam, Malam Usman Bello Akwara, was held at the Sultan Bello Mosque, close to the Sultan’s Palace in Sokoto yesterday.

The prayer was attended by the Sultan of Sokoto, Emir of Kano, Muhammad Sanusi II, the Emirs of Gwandu, Daura, Argungu, Anka, Moriki, Mafara, Bungudu and several emirs from northern Nigeria.

The governors of Kebbi, Kano, Bauchi and Katsina States were also in attendance.

The federal government delegation was represented

by Kyari, Dambazau, Minister of Defence Mansur Dan-Ali, Minister of Federal Capital Territory Muhammad Bello, and Minister of Justice Abubakar Malami.

Also at the mosque were the former NSA, Lt. Gen. Aliyu Gusau (rtd); former Sokoto State governor, Attahiru Bafarawa; former Minister of Mines and Steel, Ahmed Gusau; former Minister of Transport, Yusuf Suleiman; and the president’s nephew, Mamman Daura, among others.

Buhari, Tambuwal Mourn In his condolence message, Buhari expressed his heartfelt condolences to the Dasuki family and the government and people of Sokoto State on the death of the 18th Sultan of Sokoto.

Buhari, in a statement by his media aide, Mr. Garba Shehu, also commiserated with the

Jama’atul Nasril Islam (JNI) and the Supreme Council of Islamic Affairs over the demise of the remarkable traditional ruler who devoted his life and tenure of office to the promotion of peaceful coexistence and tolerance among diverse ethnic groups in Nigeria.

The president said he joined them in mourning the passing of one of Nigeria’s most powerful voices for peace and unity in diversity, who diligently kept faith with the virtues of the Sardauna whom he had served as a public servant.

Apart from modernising the traditional institution to bring it in tune with the changing times, Buhari said he believed that the late Ibrahim Dasuki, who died at the age of 93, would be long remembered for his role in the creation of the present local government system in the country.

The president also paid tribute to his contribution to national peace and development, particularly his significant role in producing the report that gave birth to the current local government councils.

Buhari prayed to Almighty Allah to comfort the family of the late Sultan, grant the deceased eternal rest and reward his good virtues with paradise.

Sokoto State Governor Aminu Tambuwal also described the late Dasuki as a pioneer reformist who deployed his wide knowledge of Islam and vast experience as a technocrat to have a profound impact on his family, community and the nation at large.

In a message of condolence

by the governor’s media aide, Malam Imam Imam, Tambuwal said at every stage of his life, Dasuki gave his all to ensure communal harmony and the educational development of the citizenry.

“The history of local government reform in Nigeria will not be complete without the mention of the important role Dasuki and his colleagues played in giving the country the present structure we are enjoying at the third tier of government.

“For the eight years Dasuki spent on the throne as Sultan of Sokoto, he gave priority attention to the educational development of our people by promoting adult and women literacy in all parts of Sokoto.

“He equally paid attention to the revitalisation of religious education, especially among Imams of various mosques in the Caliphate.

“He dedicated time, energy and resources in promoting religious harmony especially between Muslims in the North and South-west of the country. So also were his efforts at promoting peaceful coexistence between and among various religious groups within the country and beyond,” the statement read.

Tambuwal prayed to Almighty Allah to grant Sultan Dasuki jannatul-firdaus, adding that the people would continue to cherish the deceased’s contributions to the development of the Caliphate and the state at large.

The governor also commiserated with Sultan Abubakar and late Sultan Dasuki’s family on the painful loss.

Strategy Paper (FSP) and $30 billion external borrowing plan to the executive arm of government.

Saraki, according to a statement by his media office, said the documents were returned because they were weak and lacked the necessary requirements for legislation.

Saraki also said festering reports of his tense meeting with the president were exaggerated.

He added that since the constitution gives the National Assembly the power to approve the executive’s expenditure plan, it was only necessary that such approvals are done with due commitments, which he said informed the recent events.

“Reports of rising tension between lawmakers and the president are overblown. The MTEF and the loan request were returned to the executive because both submissions lacked the supporting documentation necessary to conduct due diligence and oversight.

“The real concern should be the length of time it will take to receive the requested documentation and the time lost towards beginning the 2017 budget process.

“What the media is now focusing attention on and what the public is witnessing is not political gamesmanship. This is the discourse that must occur if we are to figure out the best way to tackle the recession.

“The growing cooperation between the executive and legislature is the only way to move Nigeria forward,” he said.

Saraki added that with the National Bureau of Statistics (NBS) and Bloomberg Markets reports on Monday that inflation rate in the country rose from 17.1 per cent to 18.3 per cent in October with housing, electricity, water, lubricants for personal transport and education leading the sub-core index sectors driving the inflation rate, Saraki said the situation requires the co-operation of the two organs of government.

“At the end of the day, we as elected leaders must listen to the testimonies of the people and understand the level of despair in the country.

“I am confident that by working together, we can overcome the recession and address the needs of so many in meaningful ways,” he added.

SENATE RETURNS LIST OF NON-CAREER AMBASSADORIAL NOMINEES, CLEARS CAREER DIPLOMATS A presidency source had explained that with the withdrawal of the list of noncareer ambassadorial nominees, the state governors and party chairmen in states not held by the APC, after consultations, would submit new names to fill the slots for their respective states.

It was further agreed that a committee headed by the Secretary to Government of the Federation (SGF) which had recently drawn up a list of nominees to the boards of federal parastatals, would be reviewed by the governors and the APC state chapters.

This will give the governors the opportunity to hold consultations at the state level and decide on whether to retain the nominees on the list for federal boards, or otherwise, revealed a source who was conversant with what transpired at the meeting on Monday.

However, in reviewing the list, the governors were informed that 60 per cent of the slots must be allocated based on political considerations as a way of rewarding those who had helped the party to victory in the 2015 general election, while 40 per cent of the slots will be left for technocrats.

The meeting was the fallout of the growing disaffection among APC governors and the state chapters of the party that they were being left out by President Muhammadu Buhari in the appointment of persons for federal positions.

Owing to rising discontent and deepening cracks in the party, Buhari had mandated

his deputy to hold the meeting with the governors and the principal officers of the National Assembly.

During the confirmation of the career ambassadorial nominees yesterday, the senators mulled the rejection of nominees who could not recite the National Anthem and National Pledge, however, some of them, notably James Manager (Delta South) and the Senate Leader, Ali Ndume, convinced their colleagues to overlook the inadequacies of the nominees.

In their defence, Manager argued that they failed in the simple assignment of reciting the anthem and pledge because they were nervous and had suffered from stage fright.

In his own submission, Ndume pleaded with his colleagues to emphathise with the nominees, whom he said had only 30 months to the end of their careers in the civil service.

He observed that rejecting them at this moment could end their careers in disgrace.

In his submission, Minority Leader Godswill Akpabio said it was extremely disgraceful that diplomats who had spent no fewer than 30 years in service had failed to recite the National Anthem. Nevertheless, he agreed with Manager and Ndume that they should be spared.

Saraki also joined his colleagues to seek a soft landing for the embattled nominees, echoing Manager that they were victims of stage fright.

While presenting the report of the screening to the Senate, the

Chairman, Senate Committee on Foreign Affairs, Monsurat Sunmonu, was silent on the inadequacies of the affected nominees during screening and instead recommended all of them for confirmation.

During the screening of the nominees on July 27, a nominee from Anambra State, Mrs. Vivian Okeke, was asked to recite the National Anthem.

Although she started well, she could not complete it. Manager had come to her rescue by helping her to conclude it.

In the same vein, another nominee, Ibrahim Isah from Niger State, was asked by Summonu to recite the National Pledge. Like Okeke, Isah could not correctly recite it.

Besides, another nominee from Benue State, Mrs. Ada Ndem, was asked to mention 12 states in Nigeria and their capitals but when she got to Lagos, she said the capital of Lagos was Lagos instead of Ikeja.

However, in the report, the committee recommended the nominees for confirmation without reference to their shortcomings, except for Ndem whom it said was only nervous at the beginning but later composed herself well.

Though Senator Peter Nwaboshi (Delta North) questioned the rationale for the committee’s decision to recommend the nominees who could not recite the National Anthem and Pledge for confirmation, the Senate eventually resolved to clear them after subjecting the matter to debate.

There were also concerns yesterday that the Senate proceeded to clear all the career ambassadorial nominees despite the fact that 14 of them have less than 30 months to spend in the foreign service before retirement.

Civil service rules stipulate that any officer with less than 30 months before retirement cannot be nominated for appointment.

But it was alleged that the Senate opted to turn a blind eye to the rules.

After presenting the report of the screening of the 47 career diplomats to the Senate, Sunmonu also told the chamber that the committee was unable to commence the screening of 46 non-career ambassadorial nominees whose names were sent to the Senate for confirmation in October.

According to her, the committee was unable to commence the screening of the non-career nominees because it had received more than 250 petitions against their confirmation.

Accordingly, Saraki called for a motion to return the list to the president in view of the petitions against the nominees.

The motion was moved by Ndume and subsequently passed.

MTEF, Borrowing Plan Returned Meanwhile, Saraki yesterday also confirmed THISDAY’s exclusive report recently that the upper chamber had returned the Medium Term Expenditure Framework (MTEF) and Fiscal

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T H I S D AY WEDNESDAY NOVEMBER 16, 2016

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PAGE EIGHT

New Survey Says Thousands of Kids Dying in North-east UN: Scarcity of funds threatens humanitarian assistance Alexander Enumah in Abuja with agency report Thousands of children have died of starvation and diseases in Boko Haramravaged North-eastern Nigeria, Doctors Without Borders said yesterday, quoting a new survey that is forcing Nigerian government officials to stop denying the crisis.

The Paris-based organisation hopes that official recognition of the calamity in which “thousands are dying every day” will help bring urgent aid before older children also start dying, Natalie Roberts, emergency programme manager for North-east Nigeria, told The Associated Press (AP).

A survey of two refugee camps in the North-eastern city of Maiduguri shows a quarter of the expected population of under-five children is missing or assumed dead, according to the organisation.

North-eastern Nigeria's under-five mortality rates are more than double the threshold for declaring an emergency, Roberts said in a phone interview from Paris.

Speaking on her return from North-eastern Borno State, the birthplace of Boko Haram’s Islamic uprising, she said the absence of young children was striking.

“We only saw older brothers and sisters. No toddlers are straddling their big sisters’ hips. No babies strapped to their mums’ backs. It’s as if they have just vanished,” Roberts said.

Doctors Without Borders first sounded the alarm in June but Nigerian camp officials as late as September denied any child was suffering malnutrition.

That was even after The Associated Press published images of matchstick-thin children fighting for their lives at Doctors Without Borders intensive feeding centre in Maiduguri.

“The difference now is that our figures have been checked by the statistician general, and we have official recognition from the government that they

Malnourished children in the North-east

believe this is happening,” Roberts said.

An estimated 75,000 children could die within a year because donors have provided only one-third of requested funding and twice as much, $1 billion is needed for the rest of the year and into 2017, says the United Nations.

A vital funding conference in Geneva next month could save the day, otherwise “it won’t be long before we could be in the painful position of having to turn away sick and starving children,” says the U.S.based Save the Children.

Some 2.6 million people including more than 1 million children have been driven from their homes by Nigeria’s seven-year-old insurgency that has killed more than 20,000 people, left food-producing fields fallow, disrupted trade routes and destroyed wells, bridges and entire towns.

The crisis is aggravated

by the alleged theft of food aid being investigated by Nigeria’s Senate.

President Muhammadu Buhari last month set up a presidential committee to coordinate aid and the rebuilding of the Northeast, even as an end to the rainy season has brought a predictable upsurge in attacks on military outposts and urban suicide bombings by the Islamic extremists.

Meanwhile, the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) has warned that the dwindling in-flow of funds from donor partners may hamper humanitarian intervention in the Northeast region, a situation that can lead to the death of millions of people in the area, particularly children.

The world body while noting that the region was on the verge of a humanitarian crisis of global

proportion lamented that the funds so far received in 2016 are a far cry from budgeted expenditure.

UNOCHA coordinator for Nigeria, Peter Lundberg, who disclosed this to newsmen in Abuja yesterday, said if nothing urgently was done to help the government mitigate the situation, millions of people in the area may lose their lives within the next few months.

The envoy, who blamed the shortfall on what he described as a multitude of the complexities facing the world said of the $485 million budgeted for this year, only $180 million had so far been received, thereby creating a huge gap in tackling the situation.

He called on all Nigerians particularly the rich to contribute something no matter how small, in order to prevent the imminent disaster and also ameliorate the plight of the suffering

masses in the region.

“We need to reach out to the private sector, Nigeria is a rich country and there are a lot of rich people that have the capacity to give and are also willing to do so,” he said, adding that the problem could only be solved if everyone joined hands to combat the crisis in the region.

While stating that over 26 million people were likely to be affected in the event of a crisis, Lundberg disclosed that 14 million people had been identified to be in urgent need of assistance, adding that of the 400,000 children said to be suffering from severe famine and malnutrition, 75,000 of them were likely to die in a few months if there is no urgent intervention.

According to him, most of these children are already experiencing changes in the colour of their hair and skin and might likely die due to weakened immune systems.

He disclosed that his agency, other than intervening in the area of food and health, was also assisting with water and sanitation, shelter, education and empowerment, among other needs, adding that as part of measures to effectively reach the people, UNOCHA has concluded plans to establish a humanitarian hub that would bring staff of the agency and other partners closer to the people.

On the alleged rape of women and girls in the IDP camps, Lundberg, while acknowledging that it is a common occurrence in situations like this, said there is need to sensitise communities on their rights and responsibilities.

He also suggested a system of creating spaces to avoid unhealthy contact, as well as the provision of electricity in most camps to prevent certain criminal acts that darkness encourages.

and being dislodged from the Sambisa forest.

“The challenge also is that our troops cannot be everywhere but we are engaged in serious operations.

“Serious operations are taking place all over the theatre and we want to achieve much without blowing our trumpet and there are heavy casualties.”

Also, the Nigerian Air Force (NAF) recently carried out an attack on a Boko Haram location on the outskirts of Malkonori in Northern Borno.

NAF spokesman, Group

Captain Ayodele Famuyiwa, said the latest attack was a follow up to the close air support operation that repelled the insurgents who had attacked ground forces at Kangarwa.

“Survivors among the insurgents had fled to Dogochuku where they were also attacked by NAF fighter aircraft and forced to relocate to Malkonori,” Famuyiwa stated.

He said Nigerian ground forces confirmed that a number of the insurgents were killed and their vehicles destroyed from the latest air strike at Malkonori.

ANOTHER COMMANDING OFFICER, EIGHT SOLDIERS KILLED IN BOKO HARAM AMBUSH THISDAY was informed that the casualties of Nigerian troops in the latest Boko Haram ambush, which occurred between Pita and Piridang in Borno State, could be well over eight.

Military sources, who could not confirm whether others in the commanding officer’s convoy were killed or survived the attack, said that the unfortunate incident occurred yesterday morning.

“Yes. It is true, as you might have heard. The unfortunate incident happened between Bita and Piridang in Borno State but it is not certain that they all died, as the

CO and eight soldiers were fatally wounded,” one of the sources said.

However, another source disclosed that the mine resistant vehicle that had conveyed the officer and his men was said to have detonated an improvised explosive device (IED) when it drove over it.

He said that the commanding officer, who was heading towards Southern Borno, actually survived the explosion, but alighted from the vehicle to inspect the damage, only to come under heavy fire from Boko Haram terrorists who lay in

ambush.

“I don’t think he made it, but it’s safe to say that he and his men came under heavy Boko Haram fire that must have increased the number of casualties,” he said.

When contacted, the spokesman of the Nigerian Army, Col. Sani Usman, did not respond to several text messages and calls to his phone.

Umar, who took charge as the commanding officer of 114 Battalion about three weeks ago, is a member of the 48 Regular Course of the Nigeria Defence Academy (NDA).

His death happened about a week after another Lieutenant Colonel, Muhammed Abu-Ali, and his troops were killed in another ambush by Boko Haram.

Meanwhile, the Nigerian military is said to have intensified its operations in the North-east, opening up multiple battlefronts to dislodge Boko Haram terrorists said to have been scattered in small numbers in several parts of Borno State.

According to sources, “Boko Haram has resorted to classic guerrilla tactics and an asymmetric warfare since losing several territories

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T H I S D AY WEDNESDAY NOVEMBER 16, 2016

LAGOS STATE UNIVERSITY 1ST DISTINGUISHED LECTURE The Vice Chancellor, Professor ‘Lanre Fagbohun, on behalf of the Pro-Chancellor and Chairman, Governing Council, Professor Adebayo M. A. Ninalowo, Members of the Council, Senate, Staff and Students of Lagos State University, cordially invites Stakeholders and the General Public to the 1st in the series of its DISTINGUISHED LECTURES Under the Distinguished Chairmanship of Hon. Justice George Adesola Oguntade, JSC (Rtd), CFR, FNIALS, FCIArb. Date: Wednesday, November 16, 2016 Venue: Lagos State University Auditorium Complex, Main Campus, Ojo, Lagos.

Time: 12:00noon

Topic: Entrepreneurship: The Challenges and Opportunities for Nigeria’s Future Leaders

Guest Speaker

Mr Tony O. Elumelu, CON Chairman, UBA Group

Special Guest of Honour His Excellency, Mr Akinwunmi Ambode Executive Governor of Lagos State

SIGNED: LEWIS, Akinwunmi Oladapo, Registrar and Secretary to Council

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COMMENT

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

GOOD RIDDANCE TO OBAMA AND CLINTON (1) Sonnie Ekwowusi argues Americans have the right to elect their choice as president

T

he world literally rejected him. He was mistaken for a fool. All who knew him ran away from him. His name was dragged into the mud. He was called a jester. He was despised as a never-do-well who would flop at any election. The American establishment hated him. In violation of journalistic ethics, the CNN manufactured false polls depicting him as an underdog and a failure in the election. Some members of the GOP publicly disowned him. Others demanded his stepping down. Playing God, Mr. Barack Obama scoffed and laughed at him. Prof. Wole Soyinka threatened to tear up his green card if the man emerged winner. (It appears now he has refused to make good his threat). Despite the hundreds upon hundreds of false accusations brought against him, the man remained undaunted.

When he stood up to defend himself, all deserted him except maybe his wife and children. But the man was undeterred. He had faith. He had guts. He had fighting spirit. He was convinced that he had a pact with American destiny. On 9/11 he shocked a bemused world: he won the American presidential election. In case you are unsure of the person I am referring to, I am referring to no other person other than President Donald Trump. Trump is currently the 45th President-elect of the United States of America. Whenever the political history of America is re-written the Trump’s triumph over overrated Hilary Clinton will be engraved in gold. The first lesson, inter alia, to learn from Trump’s triumph is a lesson in faith, courage and tenacity. Trump exercised an uncommon faith in the face of uncommon hostilities against him. Even when it seemed all had deserted him, he did not give in to despair. Instead he remained stubbornly optimistic that he was heading for the White House. This is a big lesson for us all. Never give up in life even when the odds are up against you. Do not despair even when you find yourself standing alone.

Obama and Clinton must still be wondering what hit them. Another important lesson to learn from Trump’s triumph, the biggest lesson in my view, is that the CNN and the mainstream American media cannot be trusted with balanced and objective news reporting. For example, the campaigns for the American presidential election, the CNN and the mainstream media were biased in favour of Clinton. This is not surprising.

The CNN and the mainstream media are adept at agenda setting. They are only keen on telling you what they want you to hear and see. They have grown accustomed to portraying a negative image of Africa. For example, whenever the CNN or the BBC is focusing on Africa, it is not unlikely that it will show photographs of malnourished African children or African children suffering from kwashiorkor or war-ravaged African cities to illustrate the total ruin, which, in their myopic thinking, Africa has become.

According to Garth Jowett and Victoria O’Donnell, propaganda is “the deliberate, systematic attempt to shape perceptions, manipulate cognitions, and direct behaviour to achieve a response that furthers the desired intent of the propagandist”. In plain language, propaganda is the quantity of lies told to deceive a gullible or undiscerning audience. For example, through propaganda, the CNN, BBC and the liberal western media manipulate undiscerning minds making them believe that homosexual and lesbian practices are the prevailing practices across the world which everybody must embrace. In the same vein, the CNN carried out propaganda against Trump during the last American presidential campaigns. It was a propaganda aimed at manipulating the minds of undiscerning viewers and

D

WHENEVER THE POLITICAL HISTORY OF AMERICA IS RE-WRITTEN THE TRUMP’S TRIUMPH OVER OVERRATED HILARY CLINTON WILL BE ENGRAVED IN GOLD

making them to believe that Trump was a failure.

But unfortunately the CNN anti-Trump propaganda did not work.

The American voters ignored it and trooped out en-masse to vote for Trump during the election. They knew that under Obama and Clinton America was no longer America. Therefore they wanted a clean break from the establishment. They wanted Americans to retrace their founding principles. Obama and Clinton destroyed the philosophic traditions and founding principles as enunciated by the American founding fathers implicit in the words of Declaration of American Independence, “we hold this truth to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, among these are Life, Liberty and pursuit of Happiness”. George Washington, Thomas Jefferson and others might be turning in their graves by now in exhultation over the defeat of Obama and Clinton by Trump. Contrary to right to privacy rooted in the Fourth Amendment in the American Constitution and enshrined in the constitutions of most countries in the world guaranteeing right to privacy of citizens, Obama issued a directive early this year that any male or female student in the United States can use any male or female bathroom/locker room he or she prefers or shower together with any male or female in any male or female bathroom irrespective of his or her biological sex and even if his or her education records or identity documents indicated otherwise. Schools which refused/failed to comply were threatened with law suits by the Obama administration. Clinton was going to continue to implement the same Obama bathroom madness if voted into power. The Obama administration will go down (or has gone down) in the history of American democracy as one unique administration which exalted individual license or the “arbitrary right to choose” to the level of absolute principle and the new point of reference of law and human rights. From the legalisation of male and female students showering together, forcing unwilling American tax payers to fund abortion through the Obama healthcare, legalisation of gay marriage, the Obama administration went as far as legalising bestiality. Obama pressurised the American Senate to vote 93-7 to approve a National Defense Authorisation bill that includes a provision which repealed article 125 of the Uniform Code of Military Justice (UCMJ), a military law banning sodomy and sex with animals otherwise called bestiality. One of the implications of this repeal is that American soldiers are now free to have sex with animals. If you google: “American soldiers, sex and horses” you will probably find a shameful photograph of some American soldiers posing with horses. The repeal of Article 125 has paved way for the legalisation of bestiality in the United States. The pertinent question: why was the Obama administration shamelessly in favour of bestiality?

So, good riddance to Obama and Clinton! Pundits grumbling that Trump defeated Hillary Clinton should rethink whether it is right for them to dictate to American voters how they should cast their votes.

Nigerians uttering the loud protest “we do not want this Trump to reign over Americans” should understand that they really do not have a say in the matter. If Americans are not protesting that Nigerians elected President Muhammadu Buhari, why should some Nigerians break their heads over a matter that does not concern them? You may call Trump unprintable names but have you tried to figure out why he succeeded in winning the hearts of the cross-sections of American voters?

HOW TRUMP DEFEATED THE AMERICAN MEDIA

onald Trump’s stunning and “upset” victory over Hillary Clinton in the recent US presidential election should primarily go down in history as the triumph of a political outsider over a corrupt and arrogant media industrial-complex, not necessarily as the triumph of a derided billionaire against a woman that was a political insider like no other.

The US media claims it did not see Trump’s victory coming. It did; it just turned its evil and uber-partisan eyes away from a nagging probability that was unfolding before its very eyes. Instead of confronting, or better still, reporting that reality it turned to manipulating obvious and not-so-obvious facts, while allowing itself to be blinded by its not-too-subtle political and ideological preferences.

The subject of the media is one that is obviously very close to my heart. I worked as a full-time journalist in Nigeria for close to a decade from the late 80s to 1998, rising to serve as an Editor with the Thisday group of newspapers and Member of the Editorial Board of the now-defunct Concord Newspapers, owned by the late Bashorun MKO Abiola. I also first came to the US at the end of the 90s on a Journalism Fellowship that took me and others on that Fellowship to many states and cities in the US, including offices of such well-known flagships of the US media like the Washington Post, the New York Times, CNN and the Chicago Tribune, to mention a few.

Even though I later trained and now work as an attorney in the US, I have not kept my eyes or attention away from a profession in which I was trained and still hold very dear. But the truth still needs to be told: the state (or, maybe, reality) of the media in the United States of America leaves me sad.

Instead of the vessel of information and knowledge

The US media is a tool of manipulation, argues Akeem Soboyede

that it projects itself to be - and with its access to superior technology definitely unquestioned---the US media is in reality a tool of evil, partisan hacks who control the profession like a ventriloquist and also populate it, while largely using its resources and dignity to manipulate enraptured publics unable to escape their strong and omnipresent reach.

One worrisome characteristic of the media in the US, once-acclaimed to be the freest and most independent in the world, is the manner of its ownership, which are usually behemoth corporations.

CNN, a mainstay of cable television news all over the world (including Nigeria), has been variously owned by corporate giants such as AOL and Time Warner. The Washington Post is now controlled by the man who owns the online retail giant, Amazon.

NBC and MSNBC are controlled in one form or the other by the Microsoft Corporation and the cable giant, Comcast. What this means is that journalists at these outlets often feel the pressure to be anything but independent. While they need the behemoth owners to stay afloat in an increasingly competitive and challenging media market, they often choose to sell their souls to the interests of the corporate interests that control them. I have also observed in the many years I have lived and worked here in the US that the controlling impulses in a vast swath of the American media tend to be liberal and “progressive”.

In contrast, the Fox News, the Drudge Report and the Rush Limbaughs (radio and TV) of the world who tend conservative and often lean right have much less reach and influence, compared to the liberal tendency of the American media.

This was the (probably simplistic, I admit, but more on that later, in another fora) backdrop that led to the recent “debacle” of a Trump victory that “no one” ostensibly saw coming, especially the resourcerich American media.

Really? Not quite. The vast and liberal segment of the American media failed its vast publics (compared to the conservatives’ share of the media market) simply because it chose to ignore the Trump phenomenon, rather than professionally investigate / research and then educate its readers about it.

It was professional malpractice at its most embarrassing level. This much-vaunted media which unabashedly celebrates itself and is also celebrated by those inside and outside the US who hardly know better, since they are also manipulated---ultimately fell victim to its own manipulative practices, and the embarrassingly partisan slants it gives to stories, largely informed by personal, pecuniary and societal impulses that have nothing to do with journalism and its timeless tenets.

Any unbiased observer or watcher of CNN, MSNBC and other liberal outlets in the months before the elections, or read the New York Times, the Washington Post, etc., prior to the November 8 polls in the US, witnessed these outlets engage in unceasing hack jobs against the Republican candidate.

Nearly every story about Donald Trump became a contrived scandal: his taxes; modeling pictures his wife took before they married; the “ethnic” meals he ate while travelling on his private plane; comments from a Gold Star parent about the Republican candidate; etc. It did not help that Trump was also an “orphan” of sorts during the campaign process; elite members of his own party who could afford to make a lot of noise in the now-disgraced “mainstream media” abandoned him and piled on during every “scandal” launched or sustained by the vast, liberal media. I am no conservative or a member of the US Republican Party. But given my background in the media and my eternal fealty to unbiased reporting and journalism, the entire spectacle that passed for media coverage of the recent US presidential election

was simply unbearable to watch. “Shameful” does not even begin to describe it.

Many times, one could almost feel the glee on the faces of certain panelists who appeared on the various CNN news programmes, as they took turns piling on Trump in the guise of “informed” news commentary and analyses. Certain CNN anchors would mention Trump’s name during their segment and then laugh mid-sentence, for no apparent reason, while shaking their heads!

Talk about mindless manipulation!

Unknown to such “journalists” and “analysts’, however, many of us watching or listening to them were not waiting on those “professionals” to interpret Trump or give us a feel for his impulses, many of which I believe are noble, despite the stridency of the candidate’s “I’m-always-a-winner-and-will-say-or-doanything-to-get-elected” rhetoric.

Although I have never met the man, I have read about Donald Trump since the late 70s, well before I even became a teenager. I read the National Enquirer religiously every week back then while growing up in Nigeria, along with other (more staid) American magazines like TIME and Newsweek, among others. I read about his wild bachelorship ways back then that would make even the most “hardcore”, free-wheeling liberal blush, in New York City, no less; I read about his courtship and then eventual marriage to his first wife, Ivana Trump, who hailed from the-then Czechoslavakia, a country behind the nowdefunct “Iron Curtain”. I savoured the stories about Trump’s many alleged affairs, and then the one that destroyed his marriage to Ivana, with Marla Maples, who then became his second (and also ex-) wife. In between, I read stories of his many bankruptcies, and how he emerged from these failures that would have destroyed many other persons, even more successful.

Soboyede is a US-trained journalist and lawyer

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

EDITORIAL NIGERIANS IN TURKEY AND ERDOGAN

D

The government could do more for Nigerian students in Turkey

espite the statement by the Turkish Ambassador to Nigeria, Mr. Hakan Çakil, that no Nigerian students were arrested in connection with the July failed coup attempt in the country, available reports indicate that many Nigerians are actually still in detention. Indeed, credible stories abound on how the Turkish security agencies arrested many Nigerians over the alleged coup announced by the country’s President Recep Tayyip Erdogan.

Unfortunately, the federal government has not come out with any explanation on the issue.

According to reports, the detained students upon arrival at Ataturk International Airport in Istanbul, were all escorted to a room and their passports confiscated by Turkish police. Their main “crime” was that they were students of the Fathi University which was among the 2099 schools, dormitories and universities shut down in the wake of the July 15 failed coup in Turkey. The Turkish authorities said the schools and universities were terrorist academic institutions because they had links with Islamic scholar Fethullah Gulen, whom the AND IT IS SAD ENOUGH Turkish government THAT OUT OF 120 had accused of being COUNTRIES THAT HAVE the mastermind of the coup.

STUDENTS IN TURKEY, ONLY NIGERIAN STUDENTS While the internal problems of Turkey is WERE SUBJECTED TO UNWARRANTED CRIMINAL of no concerns to us, it is instructive that TREATMENT a report by Human Rights Watch (HRW) said a “climate of fear” had prevailed since July’s failed coup against President Erdogan that has led to the arrest of thousands under a state of emergency. “By removing safeguards against torture, the Turkish government effectively wrote a blank check to law enforcement agencies to torture and mistreat detainees as they like,” said Hugh Williamson, Europe and Central Asia director at HRW in a statement. That is the condition under which innocent Nigerians may now be languishing in detention.

Letters to the Editor

I

We are worried that by the silence of the federal government on the issue. This is despite the fact that the House of Representatives had urged the federal government to explore all diplomatic options to secure the release of the innocent students and mandated its committees on Diaspora, Education, Foreign Affairs and Interior to investigate the circumstances surrounding their arrest and take necessary actions to check the ugly trend.

I 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 is noteworthy that in July this year, the Turkish authorities asked the federal government to close down all the Nigerian-Turkish International Colleges (NTIC) in our country, saying they belong to Fetullah Gulen, who was accused of sponsoring the failed military coup. “We have formally and verbally made our demand to the Nigerian government through Foreign Affairs Minister. My country’s Minister of Foreign Affairs has spoken to Mr Geoffrey Onyema on this. We are requesting for the close down of all the 17 schools”, said Cakil who alleged, without any substantiation, that the schools are being used to “recruit followers of terrorism”.

It is being suspected that Nigerian students are being harassed because of the refusal to heed the call to close down those private Turkish institutions on our shores.

And it is sad enough that out of 120 countries that have students in Turkey, only Nigerian students were subjected to this disgrace and unwarranted criminal treatment.

Although he came to power on the back of popular support, President Erdogan’s policies in the past few years have tended towards dictatorship. In his country, he has helped reignite war with Kurdish separatists in the southeast leading to the death of hundreds of civilians while the disorder has sharply separated the nation, as well as wounded Turkey’s tourism industry and the wider economy. The mass media---the traditional press, news media--users of Facebook, twitter and others have also not escaped Erdogan’s iron hands.

However, what is important to us is that the Nigerian government must impress it on the Turkish authorities not to drag our country into their internal politics. The unwarranted and inhuman attacks against innocent Nigerians doing legitimate business in Turkey must stop.

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 TRAVESTY OF PASTOR RENO’S SERMON

n the bid to amplify his strides - imagined, still-in-thepipeline and real - former President Jonathan recruited the services of an American-based Pastor named Reno Omokri to be his Social Media Special Assistant.

Without asking what his job description was, those on the online space quickly gleaned that he was tasked to trend hash tags that promoted his principal’s image.

He failed many times on that – as he adopted the tactic of falsehood and immaturity: puerile lies, poorly couched tags and failed polls that even saw the then opposition, and now President of Nigeria, Muhammadu Buhari, winning.

He, at many times, brought his pastoral tag to question –especially when he told barefaced lies about the administration’s achievements. And he has not stopped doing that.

As Mr Omokri continues to defend the past administration and try, through misrepresentation of facts and events, to put his principal’s image in good stead, he reminds Nigerians of the pictures of the roads from neighbouring countries that were shared on his trends as roads built by the Jonathan administration; he reminds Nigerians of jobs that his principal claimed to have created, but only a handful had relations that could point at beneficiaries of these jobs.

Reno, in his most recent article: “How APC turned our graduates to bus conductors”, makes a failed attempt to rewrite history. Comments are free, but facts are sacred.

He says in his reflexive lying habit that “it is worthy of

note that when Facebook founder, Mark Zuckerberg visited Nigeria, the first place he chose to visit was the Co-creation Hub (CcHub) a brainchild of the Jonathan administration.”

But Tunji Elesho, Bosun Tijani and Femi Longe who founded the Co-creation Hub will strongly disagree with Pastor Omokri.

In an interview Bosun had with The Punch newspaper he said this: “I still have the book in which I started jotting the idea and I met with my co-founder, Femi Longe; we were both privileged to be in London, … we started writing ideas down two or three years before launching in 2010.”

Clearly, Goodluck Jonathan did not conceive the Cocreation Hub, neither did he create it – and it is disrespectful for an acclaimed pastor as Reno to try to convert an idea his principal never birthed as his principal’s.

I do not know if he reads the same Bible as other Christians do. But the Holy book does not mince words when it affirms in Proverbs 12:22: “Lying lips are an abomination to the Lord.”

It amuses me when he further brandishes the Youwin programs as Jonathan’s tool for job creation. YouWin failed in the mandate it set out to deliver: it did not create real jobs, but rather big boys who could not translate the funds given to them in creating successful enterprises; it did not improve the standard of living of the lives of Nigerians and had no real multiplier effect in that regard.

The current administration has initiated a series of social

protection programs that are, indeed, getting Nigerians engaged. The N-Power program, an unprecedented job creation, training and skills acquisition program has recruited its first batch of 200,000 Nigerians out of 500,000.

This is just one; yet it surpasses the overall impact of Jonathan’s YouWin. The Buhari administration’s N-power, would not just give monthly allowances to these workers, it will also train them with lifelong skills that would make them employable in their fields of endeavour.

The administration has in the offing four other welfare schemes: the Home Grown School Feeding Programme (with 5.5 million pupils to be targeted); the Conditional Cash Transfer (where 5,000 naira would be given to the poorest Nigerian households monthly); Enterprise and Empowerment Programme and the STEEM Bursary Programme (with 100,000 students to get financial support) Facts only: only 1% of YouWin applicants received the grants. This is best described as political patronage for the boys as a mere 1,200 Nigerians out of over 200,000 applicants.

With the humongous amount that was available to the previous administration when oil prices soared, more would have been expected. Not to mention the fact that no real infrastructural project was put in place after the administration had earned a whooping 51 Trillion Naira in five years.

Ayo Akanji, Abuja

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WEDNESDAY NOVEMBER 16, 2016 T H I S D AY

T H I S D AY WEDNESDAY NOVEMBER 16, 2016

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

MIDWEEKPOLITICS

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

THE NEWSMAKER

Banire: Leading by Example

The decision by the National Legal Adviser of the All Progressives Congress, Dr. Muiz Adeyemi Banire, to step aside from relevant political positions, pending the outcome of an investigation into a bribery allegation by the Economic and Financial Crimes Commission is a welcome development, writes Shola Oyeyipo

I

t was not by accident that the news about Dr. Muiz Banire, National Legal Adviser of the All Progressives Congress (APC) spread like wildfire, when he reportedly stepped aside, without prompting from his position in APC over allegation of bribery. He didn’t stop there, he also asked the Attorney-General of the Federation and Minister of Justice, Abubakar Malami to stand down his name as a member of the Electoral Reform Committee of the federal government.

In all his undertakings, Banire has always dared to be different, regardless of whose ox is gored. There is a moral standard he daily strives to attain and whatever could blemish this standing, he is quick to tame immediately and tackle headlong. It is with the same approach that he has knocked down the speculation about the alleged bribery against him.

Honourable Justice J. T. Agbadu-Fishim of the Industrial Court, who is the subject of an ongoing EFCC investigation was said to have had in his bank account entry of the sum of N500,000.00 in June 2013, a payment said to have from Dr. Banire. The APC stalwart however confirmed that he deposited the money but not meant to influence his judgment in any case but funds solicited for assistance.

His grouse was therefore that while he volunteered to visit the anti-graft agency on his own without being invited for interrogation, not only did his action attract what he felt was unwarranted media trial, the EFCC body language was also as if he was arrested and interrogated. ”It is unfortunate that people are misinterpreting my kind gesture in terms of my visit to the Economic and Financial Crimes Commission (EFCC) because it was not the EFCC that invited me, I went there on my own volition, based on a letter I wrote to them. I said I heard that my name was being mentioned in a particular transaction: please I want to come to explain my version.

“I went on my own volition to tell them, let me help your investigation as it concerns me, because it is not Banire alone. There were at least as at the last count, about nine Senior Advocates of Nigeria (SANs) and several other lawyers, who the man solicited fund from in one form or the other.

“I don’t think it is criminal. I don’t know any law that says you cannot assist somebody, particularly a friend. Even if the person turns out to be a judge, there is no law that says so. No law to the best of my knowledge, particularly in this instance. I am sure the man will gladly tell them that and since 1999 till last week, I have not set my eyes on him”, he argued.

While he felt those reservations, the lawyer and reputed philanthropist did not just limit his defence to an argument of innocence, he went further by setting an unprecedented record.

Unlike any other top public office holder in Nigeria, he opted to step aside as APC Legal Adviser to allow for an investigation into the allegations against him .

Aside trying to follow international best practice as someone, who has been on the vanguard of the fight against corruption, Banire also suspected political undercurrent as regards his position in the top hierarchy of the party and would rather step aside pending the conclusion of the investigation.

“Where I am presently, which I believe is one of the bases for which they are giving undue interpretation, publicity and or propaganda to the issue, is the office of the Legal Adviser of the party. And to that extent, I believe that it is my duty to assist EFCC, which is an arm of the government we serve and is prosecuting

Banire...the way to go

one of the major agenda of the government.

So, it is on my own volition that I went there and I believe that they should be assisted in whatever direction that you can to get to the root of anything”, he reiterated, stressing also that “He who lives in glass house should not throw stones”.

Guilty or not, he opted to resign his position as a member of the APC National Executive Council (NEC) in a decision contained in a letter to the party’s National Chairman, Chief John Odigie-Oyegun. And in another letter to the Attorney-General of the Federation (AGF), Abubakar Malami (SAN) he also quit his membership of the Electoral Reform Committee.

But looking at the EFCC body language, would it be right to say the anti-graft agency acted appropriately? Shouldn’t the agency have noted that the APC top official volunteered to come and state his side of the story, if for nothing, to compel such disposition of personal example in others under investigation as practiced in developed climes?

While further throwing light on why stepped aside, Banire said “As I have now come to realise after my interactions with the EFCC, that payment is being investigated from the angle of whether or not it was to influence the receiver in the performance of his judicial duties on the Bench of the National Industrial Court.

“This is perfectly understandable to me within the general context of the investigation in which the allegation had arisen, and considering that I have lately come to also realise that two of my colleagues in chambers had been involved as defence counsel in two cases before the subject judge amongst 12 cases in all they have ever done at the Industrial Court since inception.

“My review of the two case files which I came to be conscious of after my interactions with the EFCC shows that one of them was amicably settled between the parties for a sum less than N1.2m, thereby technically losing the case, whilst they won the other and that the combined professional fees (net of taxes) for the two cases was less than N2m.

“While protesting my innocence, I will therefore do everything within legal limits to defend myself. I have, from the first instance, become aware of the allegation, offered my full cooperation to the EFCC and will continue to cooperate with, and give it all the assistance it may require of me in the course of its ongoing investigation into the matter.”

But looking at the EFCC body language, would it be right to say the anti-graft agency acted appropriately? Shouldn’t the agency have noted that the APC top official volunteered to come and state his side of the story, if for nothing, to compel such disposition of personal example in others under investigation as practiced in developed climes?

Considering the fact that the EFCC has not been quite impressive in the fight against corruption under previous governments, the

body went on without any notable high profile prosecution despite the huge corruption that held the country down. So, now that it is obvious that the sitting government is fighting corruption head-on, thereby improving the hitherto de-reputed image of the anti-graft body, the EFCC should also begin to take steps that would encourage professionalism in their operations.

They would do well, especially if they do away with needless media trials of persons. If such body would go to the press, it must do so with impeccable facts and when a case has been made popular in the media, the people must be carried along to its logical conclusion so that an innocent person is not just maligned.

And since no one knows the facts available and the extent of the EFCC investigation, it may be impossible to vindicate Banire yet, however, the lawyer is steely sure that he would be able to prove his innocence in the matter.

“There seems to be a lot of misconceptions out there. In the first instance, the person in question, to me, I would say, at least as at the time I gave him money was not a judge to the best of my knowledge. He was a colleague when we were both at UNILAG campus in those days. I left UNILAG in 1999 and since then, till November 3 or there about that I just set my eyes on him.

“I have never seen him since I left UNILAG. I never knew he had become a judge at all”, he stated arguing that his benevolence to the judge, which he said is characteristic of him, could only be legally misconstrued if it is established it was done with the intention to influence the judge in a matter”.

Asked how he felt the issue may end, Banire said: “The worst scenario that can happen is for people to be charged to court. The good thing I can assure you is that because I know I am innocent, number one, it cannot end up otherwise. I am very sure that I am very innocent. I have no official relationship with the so-called judge whatsoever.

“In fact, in my own instance, again, it could be corruption fighting back because they know me. I can tell you all the people I have come across in our legal profession, both lawyers and judges will tell you that I am not the kind that will ever bribe a judge! I spend time preparing my cases.

“I go to court regularly, people see me when I argue my cases and no judge will say I lurk around to see him or her in the chamber, not me! You wouldn’t find me. It’s not me at all!

The only thing is that we should not take it to a ridiculous level that would now become comedy. In my case, I just laugh everyday over the matter. Bribe a judge in a court I don’t even visit?

“The man (the judge) has no other story to say in respect of everybody. He had said it to everybody from what I even overheard from them at EFCC, because there is no other story to it. If there is any other story, you can say you are taking a gamble”, Banire said.

Resolute that he was innocent, deciding to step down is commendable for Banire. It is a culture that the EFCC must encourage. If such culture permeates Nigeria’s social fibre, it would help minimise the scourge of corruption.

The EFCC will further do well in its operations if it tries as much as possible to carry out standard and proper investigation that would either nail or exonerate suspects within a reasonable time frame. It must also be circumspect about the activities of unscrupulous politicians, who would take advantage of such unfounded allegations to easily bring down opponents.

Most importantly, the resort to media trial is EFCC’s bane and the earlier it stands down from such unprofessional practice, the better.

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T H I S D AY • WEDNESDAY,JUNE 8, 2016

ONTHEWATCH

MIDWEEKPOLITICS

Of June 12 and Ondo’s Democratic Credentials In Ondo State, Governor Olusegun Mimiko’s celebration of June 12 is instructive, writes Kayode Akinmade

Governor Mimiko on one of the buses with students.

B

ashorun MKO Abiola, Nigeria’s democracy martyr joined his illustrious ancestors 18 years ago, but his name rings a bell still. Offering nothing but a programme to actualise the dream of Nigeria’s underprivileged to live a decent life, Abiola, or MKO as he was (and still is) fondly called, encouraged by the unprecedented pull of universal goodwill he enjoyed, plunged himself fully into the 1993 presidential project. From North to South, East and West, Nigerians trooped out and chorused in unison: “MKO is our man o.”

At his first outing on the political scene in the Second Republic, he had not been of the progressive fold, but time and tide soon forged different – and oh yes, noble – circumstances and the greatest Aare Ona Kakanfo of Yoruba modern history joined up with the very people he should have started with, clothed in humility

In Ondo, a state run by a true disciple of the sage, Chief Obafemi Awolowo, June 12 has always been celebrated in style, not by a public holiday but through lectures and symposia and celebration of life-changing projects dedicated to the memory of MKO. For on June 12, 2012 it was that the Dr. Olusegun Mimiko administration rolled out the free shuttle buses that have made schooling such a pleasure in the Sunshine State

Abiola...the hero of democracy.

and brimming with the zeal to make a change.

His was real change anchored on a distinguished, widely travelled and exposed solid intellectualism.

It was change anchored on the depth of proven achievements spanning decades of excellence; a change that even the downtrodden men and women of the uniformed services embraced with fervour, knowing that it was bound to bring a smile.

However, the election already clearly won by Abiola was annulled. Many lost their lives in the melee that ensued but Sani Abacha, who would be named in 2004 as the fourth most corrupt leader in all of history, was to later assume office and execute the most brutal dictatorship ever in the national history.

And so the nation, today, remembers June 12 in different ways. Lectures are given and

rhetoric published in the media, even by those who aborted June 12.

In Ondo, a state run by a true disciple of the sage, Chief Obafemi Awolowo, June 12 has always been celebrated in style, not by a public holiday but through lectures and symposia and celebration of life-changing projects dedicated to the memory of MKO. For on June 12, 2012 it was that the Dr. Olusegun Mimiko administration rolled out the free shuttle buses that have made schooling such a pleasure in the Sunshine State.

The shuttle buses convey primary and secondary school students to and from school, easing their transportation burden. The scheme started with 39 buses in 2012 and by 2013, the fleet increased to 90. It is a tribute to efficient management that, till date, all the buses are on the road in good condition.

The Mimiko administration had taken bold steps to institutionalise the programme through a bill to the Ondo State House of Assembly, which will ensure that the programme outlives it. That is a hallmark of progressivism. It has also honoured its pledge to extend the services of the buses, and shuttle boats, to the remaining local government areas in the state that were previously not enjoying it.

The Ondo youngsters get to school in time and without hassles, ready to learn, and stories of students lost to okada (motorbike) accidents have become alien to Ondo State. Most youths in Nigeria today simply do not know Chief MKO Abiola, the progenitor of the current democratic climate. But on June 12, Mimiko reminds youths in Ondo State that the free shuttle buses they enjoy is part of the life-changing projects, which MKO would have executed had he been allowed to utilise the mandate freely given to him by Nigerians. The people-oriented scheme has indeed empowered parents and guardians as it has substantially alleviated the financial and physical burden of transporting their children to and from school daily.

It is on record that its services since inception exactly three years ago have been running uninterrupted. The scheme has been civil servant-driven since inception and this is a demonstration of the efficiency of the Ondo State civil service.

Speaking during the June 12 celebrations held at the State Cultural Centre, Adegbemile, Akure last year, Dr. Mimiko promised that “we shall continue to honour these patriots, not just in rhetoric but by seeking to actualise the noble values of good governance and democracy which many of them lived and died for.

“We shall continue to consolidate on our numerous programmes targeted at improving the livelihoods of the people and residents of our state, and focus on the governance content of June 12. As we remember June 12, we, as critical stakeholders in the project Nigeria, must continually play the game with the sole aim of deepening the country’s democratic culture and peaceful co-existence among the various political, religious, ethnic and socio-economic entities.”

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

Rice Revolution Berths in Cross River Governor Ben Ayade has launched Cross River State into the current rice revolution, Bassey Inyang writes

A

bout 18 months ago, precisely May 29, 2015, Professor Ben Ayade, assumed office as the governor of Cross River State, amidst great expectations from the people he was set to lead.

The high expectations were understandably so taking into cognisance the laudable performances recorded by his predecessors, respectively, Mr. Donald Duke and Mr. Liyel Imoke, between May 1999 and May 2015.

The previous administrations anchored their programmes for the economic revival of the state on tourism, and rural development through creation of feeder roads to rural communities; a development which saw to the construction of the multi-billion naira Tinapa Business and Leisure Resort in Calabar, the upgrading of the Obudu Ranch resort, massive urban renewal programmes across the state, and encouraging the private sector investments towards industrialisation and boost in commercial activities.

Despite the promising projections for the state’s economy that heralded the establishment of these projects, especially the Tinapa and the Obudu Cattle Ranch Resort it is doubtful if any dividend has accrued to its coffers since they became operational.

The unforeseen problems associated in running the economic facilities to ensuring profitability aside the dilapidation of infrastructure, especially federal road networks in the state has remained one of the most outstanding socio-economic challenges confronting the state.

From inception, the governor appeared to have good understanding of the monumental task ahead of him, but in his characteristic display of courage he saw the challenges as mere stepping stones towards greater achievements for the state.

“Let me use this opportunity, to announce our signature projects; we shall undertake the construction of a dual carriage super highway from Calabar through Ikom and Ogoja to the Ranch Resort in Obudu. We shall also build a state sea port. We shall do all these and more. In God we trust,” Ayade announced after he was sworn-in at the Calabar International Convention Centre (CICC).

Ayade projects that the road on completion would provide the much evacuation corridor for cargoes from the deep sea port to states in northern Nigeria, and other West and North African countries; apart from opening the hinterland communities from north to south for easier access and economic boom while the deep sea port would create at least 30,000 jobs in the state.

Though not one of the signature projects, the completion of the garment factory, by Ayade’s administration provides hope for the employment of at least 2,000 aimed at adding to wealth creation for the people in an economy caught up by national economic recession.

However, experts have concluded that the future of the nation’s economy resides in diversification from oil to other sources of revenue generation; especially agriculture and solid minerals.

Ayade seems to have bought into this call for diversification hence the decision to launch the state into an unprecedented era of agricultural revolution that would result in food sufficiency for the populace; and enough for use as raw materials for industrial purposes.

For a start, the governor has flagged off a rice revolution in the state which is a major agricultural hub of the country.

On November 4, 2016, Ayade demonstrated what can be described as leadership by example when he inaugurated his rice farm in Obudu and inspected 20,000 hectares of rice farm in Ugboro in Bekwarra Local Government Area in demonstration of a practical approach of launching the state into the league of major rice producers in Nigeria and beyond.

Inaugurating the Ogoja Rice Mill, respectively, in the presence of officials of the Central Bank of Nigeria (CBN) led by the Governor of CBN,

R-L: Bagudu, Ayade, Emefiele, others inspecting the Ugboro rice farm

Bagudu inaugurating Ayade rice farm. Emefiele, Ayade, others watch

Today, we stand to publicly declare that the people of Cross River support your Rice Anchor Borrowers Programme, and has keyed in fully as a responsive government.

We support the dream of Mr. President who believes that this country should be self-sufficient in rice production, and he has not only shown reasonable commitment but has followed up with action plans to achieve this vision

Mr. Godwin Emefiele, the governor disclosed that his administration has adopted a policy on rice as propagated by the Federal Government.

“Today, we stand to publicly declare that the people of Cross River support your Rice Anchor Borrowers Programme, and has keyed in fully as a responsive government.

“We support the dream of Mr. President who believes that this country should be self-sufficient in rice production, and he has not only shown reasonable commitment but has followed up with action plans to achieve this vision.”

Ayade who disclosed that his administration has acquired over 18,000 square kilometres of land which it intends to donate to anyone desirous of cultivating rice in the state added: “Taking a cue from Governor of Kebbi State, I have keyed into this presidential initiative by owning my own rice farm today.

“I am sure that by next year, given the number of things we have put on ground, Cross River will have more than enough to feed and export.

“As an extension, I have directed that my 29 commissioners must own at least 20 hectares of rice farm each, while over 1,700 political

appointees are expected to own and cultivate at least 10 hectares each to further boost rice production in this state and the country at large.”

Promising that his administration would not fail in its determination to become a major rice producer, the governor said: “We want to assure Mr. President that, with the support of CBN, Cross River State and indeed Nigeria will be self-sufficient in rice sooner than we expected.”

The Chairman, Presidential Committee on Rice and Wheat, who is also the Governor of Kebbi State, Atiku Bagudu, who spoke at the event commended Ayade for his pragmatic roles demonstrated towards making the state and country self-sufficient in rice production.

Bagudu said it was heartening to know that over 73 cooperative groups and 2,183 farmers have already been mobilised in the northern part of the state for dry season farming.

“I am indeed very delighted to see the tremendous work already done by Governor Ben Ayade in Cross River and his strong believe in the programmes of the federal government to reduce poverty and create employment.

"Today, Ayade is leading by example by

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personally cultivating his own rice farm that will contribute immensely to our effort of becoming self-sufficient.

“The aim of the programme is therefore to create wealth and employment among the citizenry, be major exporter of rice and wheat and ultimately be self-sufficient in rice production before the end of the year,” Bagudu said.

Bagudu recalled the roles played by Ayade while serving in the Senate, stating that he has always been at the forefront of the struggle for better and more prosperous Nigeria.

Promising more incentives for the state, Bagudu said: “Once we see the success achieved, we are ready and willing to bring in more money to the State.

“The essence of the nationwide tour is to determine the level of successes recorded so far since the borrowers programme was launched in Kebbi State last year."

In keeping with the administration's policy to create value chain for the state's rice production, Ayade has flagged off the construction work on a multi-million naira rice mill in Ogoja.

Ayade also performed the groundbreaking for the construction of a rice mill in Ogoja, which he said would be “the first of its kind in Africa, capable of producing wholly vitaminised rice that will incorporate growth hormones for children between the ages of seven and 15, and also enhance their intellectual capacity.

"With the vitamins enhanced plant, specific vitamins and nutrients are going to be incorporated; the vitaminisation process of this mill is going to be bigger business than actually selling the rice.”

Ayade said, “The people of Ogoja are traditionally the number one rice growing people in the South-south of Nigeria, but all the rice cultivated in Ogoja ends up in other states.

“Indeed, it is our rice and we have come to put an end from taking our rice from Cross River to somewhere else and adding to the rice cultivation statistics of other states.”

Ayade said that the product which will be called “Ogoja Rice” will be packaged to reflect the identity and unity of the people.

At the commissioning of the rice mill, Ayade made a clear distinction between the proposed Ogoja Rice Mill and the Calabar Rice City, saying the latter was designed as a research centre for the production of a new hybrid of rice that will have high yield, high disease resistance and targeted at the production of seeds and seedlings.

"The only way we can control the economy completely in a rice value chain is not just to grow rice but to sell seeds, so we need to have a research centre close to the airport because we are hoping to sell seeds to the whole of Africa.

But when you produce your seeds, you need to send them to where the heartbeat of rice construction is, which is Ogoja," Ayade said.

Continuing, he said: “Buhari has demonstrated that if Nigeria can be focused on rice production, we shall indeed, get out of the woods and our continued dependence on foreign rice will be a thing of the past."

The state Commissioner for Agriculture,

I am indeed very delighted to see the tremendous work already done by Governor Ben Ayade in Cross River and his strong believe in the programmes of the federal government to reduce poverty and create employment.

Today, Ayade is leading by example by personally cultivating his own rice farm that will contribute immensely to our effort of becoming selfsufficient

Farmers saluting Ayade and Emefiele.

The jo

Ugboro rice farm

Ayade (left) and Emefiele at the inauguration of the rice mill

Professor Anthony Eneji, who also spoke at the event, stated that the proposed mill would be producing at least five tons of rice per hour, especially for rice farmers and merchants in the northern and central senatorial districts of the state.

Speaking at the event, the Governor of Central Bank, Emefiele, disclosed that CBN has spent over N3 billion, so far, in the programme in the state, stressing that: “Once we see the success achieved, we are ready and willing to bring in more money to the state.”

Emefiele stated that “The essence of the nationwide tour is to determine the level of successes recorded so far since the borrowers programme was launched in Kebbi State last year."

Commenting on the efforts put in by Ayade towards the realisation of the programme , the CBN governor said ,“Ayade’s effort will serve as a motivational factor to Cross Riverians who are yet to key into this programme to think of owning their personal farms and start growing rice and other essentials produce too.”

Speaking further, the CBN governor said: “This programme is therefore a demonstration of the fact that we can grow our rice, not just the rice, cassava, yam, wheat and even poultry products can also be produced in large quantities because we have the capacity and so, there is no need to spend foreign currencies in importing these items into the country.

“We know, it is not going to be easy but going by the level of successes recorded so far, I can assure you that we shall overcome food crisis in the country.”

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IMAGES

Kaduna State Governor, Malam Nasir el-Rufai (left), presenting the staff of office to the new Agwatyap of Atyap chiefdom, Dominic Gambo Yahaya, in Zangon-Kataf Local Government Area of Kaduna State...recently

L-R: General Manager, Marketing Grand Oak Limited, Mr. Brajesh Kumar; Seaman’s Schnapps (model) Royal father, Mr. Ibrahim Ajibola; Honorable Serif Abdulkareem; and Trade Marketing Manager, Grand Oak Limited, Mrs. Catherine Akeju at the Lagos International Trade Fair 2016 Exhibition.....recently

THISDAY • WEDNESDAY NovEmbEr 16, 2016

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

L-R: GOtv Marketing Manager, Johnson Ivase; GOtv Ambassador, John Aseimo aka Daddy Showkey; and Event Manager, MultiChoice Nigeria, Patrick Dumme, at the Lagos State Trade Fair at TBS Lagos...recently

L–R: Trainee Manager, National Lottery Regulatory Commission, Miss Edna Sodje; winner of N1 million, Mr. Uche Valentine; Portfolio Director, Innovation and Lagers, Guinness Nigeria, Ms. Jody Samuels Ike; Senior Executive Officer, Legal, Lagos State Lotteries Board, Mrs. Simisola Muniru; and CEO Elev8 Sports, Mr. Biola Kazeem, during the prize presentation of the Guinness Every Minute Made of Black promotion, in Lagos…recently

L-R: Vice Presiednt, Institute of Charterd Secretaries Administrators of Nigeria (ICSAN), Mr. Samuel Kolawole; President, Dr. Nat. Ofo; and Registrar/CEO, Mrs Nkechi Onyenso, during the press briefing on the Instiute’s 40th confeerence and grand ball in Lagos...recently

L-R; President, Lagos Chamber of Commerce & llndustry, Chief Mrs Nike Akande; Chairman, Lagos Chamber of Commerce lnternational Arbitration Centre, Babatunde Fagbohunlu; Executive Secretary, Foluke Akinmoladun and member of the board, Laurie Coleman at the launch of Lagos Chamber of Commerce lnternational Arbitration Centre in Lagos......recently Abiodun ajala

L-R: Group Managing Director, Reals Pharm Ltd,. Pharm. Adesanmi Popoola; Director R&R, NAFDAC, Dr (Mrs.).

Monica Eimujenze; Registrar Pharmacists Council of Nigeria, Pharm. NAE. Mohammed; President, Pharmaceutical Society of Nigeria, H. E. Alhajii Ahmed Yakassai; and Commissioner for Health, Niger State, Dr. Mustapha Jibrin during the launch of Reals Night Aid at the 89th Annual Conference of Pharmaceutical Society of Nigeria (PSN) in Minna, Niger State...recently

L-R; Chairman, Basil School, Ilupeju, Mr. Bisade Biobaku; Managing Director/CEO, Wema Bank Plc. Mr. Segun Oloketuyi; Managing Director, Inchscape Architects, Mr. Kitoyi Ibare-Akinsan; Managing Director, James Cubitt Architects, Mr. Alan Davies; President, QMB Builders Marts Ltd. Mr. Ayobami Biobaku; and the company’s Managing Director, Mrs. Adetoro Biobaku, at the unveiling of QMB Builders Marts Ltd, Gbagada branch in Lagos, at the weekend……. sunday adigun

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

A S

NIBOR

A T

3-MONTH

22.4167% 17.5789%

6-MONTH

N O V E M B E R

19.4165% 22.1505%

NITTY 1-MONTH 2-MONTH

14.8670% 15. 1635%

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

1 0 , 3-MONTH 6-MONTH

2 0 1 6

16.1521% 19.6338%

EXCHANGE RATE N304.75//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes CIBN to Hold Annual Dinner

SEALED AND SIGNED

L-R: Ooni of Ife Oba Adeyeye Enitan Ogunwusi Ojaja 11; Acting Managing Director\CEO Bank of Industry, Mr. Waheed Olagunju and Divisional Head, South, Bank of Industry, Mr. AbdulGaniyu Mohammed after the signing of Memorandum of Understanding (MoU) between the bank and House of Oduduwa Foundation on N1billion soft loan for youths in Ile Ife Osun State …recently

Foreign Investment in Equities Falls to Nine - Year Low Goddy Egene The foreign investment in Nigerian equities in the third quarter of 2016 fell to nine - year low as investors seek safety in less risky and high yielding fixed income securities.

The capital importation data supplied by the Central Bank of Nigeria (CBN) and recently released by the National Bureau of Statistics (NBS) showed that foreign inflows into equities in Q3 fell by 28 per cent quarter to quarter (QoQ) for the first time in the capital market data series.

Besides, it fell to nine yearlow of 2007 level. Specifically, inflows into equities were $201.12 million in the Q3,

CAPITAL MARKET compared to previous highs of $4.930billion in Q1 of 2013 and $3.875 billion in second quarter of 2014.

While inflows into equities fell, the total capital imported into the country in Q3 rose from the level in Q2. According to NBS, the total value of capital imported into Nigeria in Q3 2016 was estimated to be $1.822 billion, which represented an increase of 74.84 per cent relative to the second quarter, and a fall of 33.70 per cent relative to the third quarter of 2015.

“The highest level of capital imported was in August, when $894.00 million was

imported, the highest level since July 2015. In September $649.76 million was imported, which was still more than any month in the first and second quarters. In contrast with the previous quarter, where Other Loans explained the majority of the increase, a number of investment types contributed to the quarterly increase,” the agency said.

NBS explained that much of the quarterly increase in the value of capital importation came from debt financing, noting that of the total quarterly increase, 85 per cent was accounted for by increases in portfolio investment in bonds and money market Instruments.

“The latter of which comprises

short-term funding securities such as treasury bills and commercial bills from CBN. Quarterly growth in foreign direct investment (FDI) equity was also strong, although portfolio equity continued to decline. FDI investments have a longer-term interest, and are therefore less likely to reflect short term challenges than portfolio equity.

“Nevertheless, each type of investment (FDI, portfolio and other) recorded quarterly increases, of 84.84 per cent, 172.84 per cent and 7.80 per cent respectively. The relatively strong growth in Continued on page24

Report: Nigerian Airlines on International Routes Losing Market Shares Obinna Chima Nigerian carriers on the international route are losing market shares, a report has indicated.

International passenger traffic is shrinking, the report stated, adding that there are indications that 60 per cent of all airline tickets are dollar purchased.

The International Air Transport Association (IATA) exchange rate is N308/$.

However, the report revealed that airlines are enjoying higher patronage from Nigerians paying in naira.

The Managing Director,

ECONOMY Financial Derivatives Company Limited, Mr. Bismarck Rewane, stated this in a report titled: Re: “Recovery Fades, Strong Regulator versus Efficient Markets,” which he delivered at the Lagos Business School’s Executive Breakfast session recently.

Kenya Airways reported a major loss for the second year running, rationed its route network and cut 40 per cent of its destinations. Abuja was one of the first casualties. Others were Gabon and Botswana.

While Ethiopian Airlines and its subsidiary Asky is gaining market share across Africa, with the Lagos-Lome-Newark route as a blockbuster.

The report indicated that passenger load traffic has been down by 60 per cent, indicating that discount fares and promos are back Furthermore, it stated that higher cancellations and poor on-time performance were hurting the brands in the aviation sector.

While highlighting some of the challenges facing the industry, it stated: “Regulation

makes it impossible for airlines to break-even as well as failure to improve the airports conditions. Cost of operation remains very high and increasing cost of JET A1 fuel and other landing charges. High indebtedness of domestic airlines to banks “Multiple entries granted to many international airlines creating ineffective competition.

Lack of maintenance facilities within the country.”

It revealed that over 50 airlines have been liquidated since Independence (1960), Continued on page 24

The Chartered Institute of Bankers of Nigeria will hold its 2016 Annual Bankers Dinner on Friday, November 18, 2016, in Lagos. The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele is expected to deliver a keynote address on the state of the banking industry and the economy.

According to a statement, a two-time Minister of Industry and current President, the Lagos Chamber of Commerce and Industry (LCCI), Mrs. Nike Akande will propose the toast to the Chartered Institute of Bankers of Nigeria while the U.S Ambassador to Nigeria, Mr. James F. Entwistle, will propose the toast to the Federal Republic of Nigeria.

“Governor, Lagos State, Mr. Akinwunmi Ambode is expected as the distinguished Guest of Honour.The Group Managing Director/CEO, Access Bank Plc and Chairman, Body of Bank CEOs, Mr. Herbert Wigwe, FCIB, will deliver a Goodwill Message at the forum which will attract top dignitaries from the banking and finance industries, the business community, members of the diplomatic corps and top government functionaries.

“Other top dignitaries expected at the important occasion include Dr. Okwu Nnanna, Deputy Governor, Financial System Stability, CBN; Mr. Femi Odubiyi, Lagos State Commissioner for Science & Technology; Mr. Abdulraman Abdulateef, Lagos State Commissioner for Home Affairs, all Chairmen and Managing Directors/CEOs of Nigerian Banks and other financial institutions. President/Chairman of Council, CIBN, Prof. Segun Ajibola, will be the Chief Host of the Dinner,” the statement added.

Visa Partners Ecobank

Visa, one of the global leader in payments, has gone into partnership with Ecobank, to roll out mVisa, an innovative mobile payment service, in 33 African markets by year-end. The service will initially launch in the key markets of Nigeria, Ghana, Kenya and Tanzania and signals Visa and Ecobank’s ambitions to successfully enable mVisa across Sub-Saharan Africa.

With mVisa consumers can pay for goods and services for everyday expenses from bill payments to groceries and taxi services, by simply scanning a QR code on a smart phone or entering a merchant identification number into their feature phones.

Accordingtoastatement,mVisaaddressestheneedforaconvenient, low cost acceptance payments service throughout the continent.

The informal sector contributes about 55 per cent of Sub-Saharan Africa’s GDP which is largely cash based1. With mVisa, merchants are now able to receive electronic payments in a cost-effective way, without the need for point-of-sale terminals.

They can receive payments directly into their bank accounts, within minutes of the consumer making a payment and provides real-time notification to both parties. Unlike other mobile payment services mVisa can also handle refunds and chargebacks, so if a merchant needs to refund a consumer, mVisa can facilitate this.

Kenya to Host Africa Business Forum

This year’s Africa Finance & Investment Forum (AFIF) will focus on “Entrepreneurship and Innovation for Growth” and will be held for the first time in the city of Nairobi, Kenya, hosted by the Strathmore University. The event will take place from 15th -16th February 2017.

In line with growing regional and international trends, this year’s edition of AFIF will focus on entrepreneurship and innovation and access to finance in key sectors such as energy, water, ICT, health and agriculture.

“Participants will be able to experience a 360° event, which includes an exclusive training for entrepreneurs, a dynamic market place, tailor-madeB2B meetings(forall participants,speakers andpartners using EMRC matchmaking programme) and the EMRC-Rabobank Entrepreneurship Award to celebrate innovation and excellence,” it added.

An expected 300 participants will converge in Nairobi, bringing together entrepreneurs, investors, financiers, market specialists, government representatives and policy makers working towards Africa’s growth and development.

“If you don’t have power, it is your service provider you should hold responsible. The 11 Discos are the ones that should respond to that, not the ministry”

Minister of Power,Works and Housing

Mr. Babatunde Fashola

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

BUSINESSWORLD FOREIGN INVESTMENT IN EQUITIES FALLS TO NINE YEAR LOW portfolio Investment meant it regained its position as the largest investment type, and it accounted for 50.51 per cent in the third quarter, compared to 18.69 per cent and 30.80 per cent for Other Investment and FDI respectively. Year on year growth rates remained negative; FDI, portfolio and Other Investment declined by 52.54 per cent, 8.80 per cent and 45.05 per cent respectively compared to the third quarter of 2015,” NBS said.

Commenting on the development, analysts at Afrinvest West Africa, an investment banking firm, said: “Notwithstanding expected drag in equities portfolio inflow in the short term, we expect capital importation to continue to show improvement on Q-o-Q basis, buoyed by loans (particular the recently approved $600 million AFDB budget support facility and planned Eurobond issuance for Q4:2016) and fixed income investments inflow.

REPORT: NIGERIAN AIRLINES ON INTERNATIONAL ROUTES LOSING MARKET SHARES due to failure of regulators in the industry. Also, it stated that Domestic aviation was consolidating between three carriers - Arik, Medview and Air Peace. It however noted that the airlines are all under financial cost pressures.

The Central Bank of Nigeria (CBN) has made airline remittance a priority sector. CBN Governor, Mr. Godwin Emefiele recently said the aviation sector is an important sector in the economy, just as he assured that the central bank would continue to fund the foreign exchange need of operators in the sector.

However, the CBN governor faulted the insinuation foreign airlines were moving out of the country due to FX scarcity.

“It is important for me to correct the impression that airlines are closing down or airlines are moving out of the country because of inadequate access to foreign exchange. No one can deny that everyone is finding it hard to get FX these days, given the sharp drop in oil prices and FX inflows.

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 (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

NEWS

ITU Challenges Nigeria over Telecom World Hosting Rights Emma Okonji in Bangkok, Thailand

The International Telecoms Union (ITU), organiser of the annual ITU Telecom World has challenged the Nigerian government over the hosting rights of the annual event, which Thailand, a country of 65 million people is hosting this year.

Secretary-General of ITU, Houlin Zhao, who gave the challenge during the opening ceremony of ITU Telecom World 2016, which was declared open on Monday in Bangkok, Thailand, by Her Majesty, Princess Maha Chakri Sirindhornat, said Nigeria and most African countries have not summoned up the courage to request for the hosting rights, which he said, could be granted, if only the country has the infrastructural facilities to host the yearly global event.

“I have no issues about taking the hosting rights to Africa, but any African county that is interested in hosting ITU Telecom World, must first make its interest known to ITU and I am convinced that ITU would grant such request, if the country has the infrastructural facilities to host exhibitors and participants that would come from over 120 countries of the world,” Zhao said.

According to him, although South Korea has been given the hosting rights for ITU Telecom World 2017, the

Ethiopian government has made an official request to ITU to be considered for the hosting rights in subsequent years, and such request could be granted if Ethiopia meets the global requirement for hosting.

In the case of Nigeria, Zhao called on the Nigerian government to first summon up to apply for hosting rights, which will be screened for consideration. “Nigeria has done so well in telecommunications development in Nigeria and

the African continent, but the Nigerian government has never applied for the hosting rights.

So Nigerian government should be brave enough to make such request.

Despite the challenge posed before the Nigerian government concerning the hosting rights for ITU Telecom World, most Nigerian telecoms operators present at the ongoing ITU Telecom World conference in Bangkok, Thailand, said it would be difficult for Nigeria

to successfully host the world, even when ITU decided it grant Nigeria the hosting rights.

They accused the government of leaving the task of developing telecoms infrastructure in the hands of telecoms operators, even after the operators had paid so much to acquire licence for commercial rollout. The situation, no doubt, affected the speedy development of telecoms infrastructure in the country. The operators were of the opinion that Nigeria would

have been fully developed in terms of telecoms infrastructure, and become fully ready to host ITU Telecom World and other global Information and Communications Technology (ICT) events, if government had started long ago to invest in telecoms infrastructure.

Telecoms operators that participated in the Digital Mobile Licence auction in 2001 in Nigeria, paid $285 million each, when at that time, the exchange rate was N100 to $1.

A WARM WELCOME

Head of Gloworld, Globacom’s State-of-the-Arts Customer Service Chain, Mr. Babatunde Alimi (middle) welcoming the President of Lagos State Polytechnic Students’ Union, Comrade Lawal Dauda to Globacom during the visit of the newly inaugurated Students Union executives to the company’s head office in Lagos recently. With them is the Vice President of the Students’ Union, Comrade Akintona Timilehin

LCCI Boss Lists Measures to Resuscitate Economy Goddy Egene The federal government has been called upon to take immediate measures that will lift the economy from its poor state.

An economist and Director General of Lagos Chambers of Commerce and Industry (LCCI), Mr. Muda Yusuf, who made the call, said liquidity should be restored to the foreign exchange market in order to bring back investors’ confidence in the economy. He added that there is a need to review trade policy to enhance disposable income and private sector investment spending.

Yusuf spoke at the seventh

annual conference of the Institute of Capital Market Registrars (ICMR) on the theme: “Understanding Monetary and Fiscal Policies in the Management of the Economy– Issues, Challenges, Analysis and the Impact on the Capital Market.”

He said the high cost of borrowing as represented in treasury bill rate and the bonds is crowding out the private sector in the financial market affecting the growth of investment and financial intermediation.

According to the him, the tight monetary policy in form of high cash reserve ratio (30 per cent), liquidity ratio(22 per cent)

, monetary policy rate (12 per cent) has led to an increase in interest rate and better returns on investment in the money market.

“This is a disincentive to investment in the capital market. High interest rate is not good for firms in the real sector, many of which are listed on the Nigerian Stock Exchange (NSE). This has implications for Return on Investment (ROI) for those firms and by extension ROI on investment on those equities,” Yusuf said.

The LCCI boss noted that the auto policy is taking a major toll on automobile industry especially those in the business

of production, assembly or sales of new cars “Current import duty regime is aggravating the cost of production and operation across all sectors. This is because the base rate for the competition of duty has increased phenomenally due to the cost of inflation.

The exclusion by the Central Bank of Nigeria (CBN) of the famous 41 items from the interbank foreign exchange market is having a very serious effect on both industrial and service sectors,” he added.

Yusuf explained that the Treasury Single Account (TSA) has a major liquidity implication for the economy

which also affects the capital market, emphasizing that: “Over 90 per cent of the deposit in the banking system are short term funds of about a year or less. This structure is not good for the real sector investment which is needed to drive the capital market.”

On the way forward, he said liquidity should be restored to forex market while the emphasis on demand management of the forex market should be reduced “The challenge of high energy cost needs to be addressed very urgently. Exposure of government to domestic debt need to be reduced considerably. There is a need to review trade policy

Forex Scarcity Hampering Execution of Water Projects Adedayo Akinwale in Abuja The forex scarcity is taking a toll on water scheme projects as the federal government said that between 60-70 percent of such projects needs foreign exchange to be successfully executed.

The Minister of Water Resources, Suleiman Adamu , stated this at the opening ceremony of 2016 edition of Water Africa and West Africa building and construction exhibition and seminar in Abuja, with the theme , “Infrastructure Challenges Facing Nigeria in

the 21st Century”, organised by M/S ACE Events Management of the United Kingdom.

According to the minister, this is why it is becoming difficult for state governments to provide water to semi-urban areas.

The minister lamented what it described as huge percentage of failed water projects across the country and vowed that the ministry will not allow it to continue.

Adamu also stressed the need for a regulatory framework that will enable private sector take part in developing

the water sector, especially in the areas of generation and distribution The minister also pointed out that efforts of the ministry were geared towards rejuvenating and redirecting river basin authorities to deliver expected goals.

“Plans were on to commercialise the river basins in the country so that they did not depend on government anymore,” he stated.

The minister who expressed concern about inefficient power supply said his ministry was in the process of creating a unit

to evaluate equipment being used for water projects, and said that it was already working with Standards Organisation of Nigeria (SON) to ensure that the country did not become dumping ground for all sorts of equipment that were not useful for the water sector.

He said steps were being taken to look for where to get more energy-efficient equipment to power water equipment in the country.

According to him, “There is potential for new equipment and I hope this conference

can take up the challenge on ways to deliver affordable water. There is huge market for the equipment and I hope some of you will take up the responsibility to establish some of the production lines.”

Speaking, the Managing Director of ACE Event Management UK, Tracey Nolan-Shaw said the event was organised to proffer solutions to the challenges facing providers of infrastructure for water and sanitation sector as well as the organisations in the building and construction industry.

T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

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BUSINESSWORLD

NEWS

Senate Committee Plans Public Hearing on Power Sector Issues Ejiofor Alike The Senate Committee on Privatisation has stated that it will soon organise a public hearing at the National Assembly to allow the Distribution Companies (Discos), their regulators, customers, and other arms of the value chain to review the privatisation process Chairman of the Committee, Senator Ben Murray Bruce stated this when he led the other members of the committee to Benin Electricity Distribution Company (BEDC).

He said he was familiar with some of the problems of the industry but pointed out that he was surprised about how the industry was being owed about N900billion even when power generation was very low, saying that he was also in the know that federal government was yet to fully honour its obligations to Discos and that they could not collect tariff at prevailing market rate due to high foreign exchange rate and the recession, but was more interested in what could be done to solve the problems.

The Senate Committee Chairman said he was not in favour of outright cancellation of power sector privatisation but was interested in assessing how it has fared as

a tool of government either in terms of failure or success in its entirety.

“We are not in favour of cancelling the process. If a bad deal was done in some areas let us fix it and move on. The committee’s intention is to look at how to fix problems of privatisation. In other words, what can be done to solve the problems “he asserted.

He explained that some of the problems confronting Discos were unforeseen saying” nobody knew there was going to be economic recession, or forex devaluation of this magnitude, stressing that the committee’s intention of embarking on the fact finding tour was to assess how far the process was performing.

Senator Bruce who acknowledged the myriad of challenges facing the power sector observed that BEDC under the leadership of Mrs. Funke Osibodu, BEDC had done well since it came on board especially in the areas of community relations, payment platforms and customer services.

“We have seen the excitement of staff at the training programmes of BEDC, an enabling environment and air of camaraderie among management staff, which we have not seen in other places, which goes to show that the company is

well-run, and we had expected no less a good environment given the pedigree and antecedents of your CEO”, Senator Bruce remarked.

Earlier, Osibodu had enumerated series of challenges confronting Discos, stressing the need for the committee to impress it on federal government to dollarise the Naira price for gas; the raw material for electricity production for the power sector and also subsidise tariff for lower class residential customers in like manner the Indian government did for its electricity companies.

Osibodu equally told the Committee that it was important federal government treated existing shortfall in the industry revenue basket as Regulatory Asset Bond (RAB) backed by legislative cover and recognised by the Nigerian Electricity Regulatory Commission (NERC). She equally emphasised the need for the Senate to ensure criminalisation of energy theft and fast tracking of the prosecution of offenders, adding ” more importantly outstanding Ministries, Departments and Agencies (MDAs) debts should be paid with legislative and government full backing authorising disconnection of non-paying MDAs without fear of repercussion of arrest or victimisation.”

Cutix Grows Profit by 27% Despite Economic Recession Charles Onyekamuo in Awka Cutix Plc, an Nnewi Anambra State cable manufacturing company has posted a profit after tax of N190.5 million or 27.71% of its revenue from N149 million in the preceding year. This is in spite of the harsh political and economic environment that has adversely affected the country’s earnings.

The company’s revenue grew within the year under review from last year by about 20% from N2.358billion to a N2.835billion in 2016, while profit before tax grew from N202 million to N278million.

The company’s Chief Executive Officer, Mr. Ifeanyi Uzodike, who made the disclosure during a press conference to announce the company’s annual general meeting (AGM), fixed for Friday, October 21, at the company’s head office in Nnewi said in view of the performance of the company, the Directors would be recommending that a dividend of 14 kobo per share be paid to the shareholders.

Uzodike said that low economic

activities continued during the year under review in spite of the much anticipated increase in the level of foreign investments as a result of the initial warm reception and support extended to the federal government at inception. He said Nigerian economy remains in decline adding that revenue accruable to the government fell significantly as a result of the crash in oil price.

The situation he said became so bad that most manufactures could no longer access up to 10% of their Foreign Exchange (FOREX) requirements through the Central Bank of Nigeria (CBN).

Following this, Uzodike said the company resorted to sourcing for forex to purchase raw materials from the parallel market. The net effect he said was that the cost of doing business increased and inadvertently affected the prices of products significantly.

“We are just working and we thank God. The way we do our business changed. From October last year and till date,

we have not received up to $150,000 from the CBN. But we buy from the parallel market.

It has generally changed the way we do business.

“We are the first to begin sourcing funds from parallel market for our raw materials,” he said.

The national fall-out or consequence of buying from the parallel market he said means that the prices of goods will adjust, stressing that, what you do as a manufacturer is to try to ensure control of cost.

He however said that the downturn in the economy has not affected the quality of its products and sales, even as he said the recession has provided the firm the opportunity to do business better.

The biggest challenge the company faces he said remains that it cannot source forex from the CBN, adding that the way things are today, the CBN can’t even provide 10% of forex used by manufacturers.

Globacom Promises More Students-oriented Services Globacom has promised to continue to come up with more innovative telecom’s services for Nigerian students.

This was revealed when the executives of the students’ union government of Lagos State Polytechnic (LASPOTECH), Isolo Lagos paid a courtesy visit to Globacom headquarters in Victoria Island, Lagos recently.

Those who visited included Lawal Dauda (SUG President); Akintona Timilehin( Vice President); Agogo Olutayo(Secretary); Ologoro Wasiu (Treasurer) and six others.

Globacom’s Head of Gloworld, Mr. Babatunde Alimi, while ad-

dressing the visitors, underscored the role of the youths of Nigeria especially students, to nation building.

“We are passionate about anything that has to do with your generation, and this is why we design our products and programmes around the younger generation and around the needs of students in higher institutions,” he said.

Alimi enumerated the numerous products and services for students on the Glo network.

He laid particular emphasis on the Campus Booster which he said gives students ten times more data on campus as opposed to

what operates off-campus.

According to him, a N200 data recharge will guarantee a subscriber 500MB of data which is ten times more than the 50MB of data a subscriber would normally get with a N200 recharge, while a recharge of N500 will give 1 gigabyte of data. The service is also available on all Police, Customs and Immigration training institutions. Students as well as staff on campuses can enjoy this offer when they subscribe to a Glo Campus Booster data plan of N200 and above. They will subsequently enjoy a reduced burn rate of the data on usage while on Nigerian campuses.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Embrace Social Media or Die! Some will say, “Marie what kind of heading is this? Are you not being too dramatic? I am NOT! If you do not embracesocialmediaintoday’sbusiness environment, I can assure you, you will die eventually.

I tell people every day that social media and digital are where they should focus on, because the world is going in that direction. Traditional media will have to find a way to conform and many of them already are, as they now use various social media platforms to disseminate their information.

The digital space has completely transformed the way business and everyday activities are done.

Despite this direction, I have friends who take special pride in saying that they are not on social media. They see it as a badge of honor and feel that those of us who use social media are time wasters. What they do not realise is that they are being left behind and fossilising. My parents both over 70 years old are on social media and follow issues and events ardently and compete with their grandchildren on trends and happenings around the world. Social media has opened them up to so much information and activities. The other day, I heard my mom telling my daughter to download Snap chat for her.

Recently, I asked a lady who sells me lace, “why do you not use Instagram to show me new designs”? Her response was that all the big lace sellers do not use the medium to advertise and are her mentors. My response to her was “you are losing the opportunity to sell to a global market, instead of just the people passing through the shopping complex and walk in customers. How many of us are losing this opportunity?

Social media gives you the opportunity to sell to the world, expands your sphere of influence and opens you up to new markets. I know many people who make purchasing decisions via social media – shoes, soup (traditional), cosmetics, clothes, bags, jewelry, etc to name a few. Many entrepreneurs are smiling to the bank because they’ve cottoned on to the idea and are using the relatively affordable means of relating with and selling to their clients and potential customers. They have a captive audience and are engaging with these customers on a real time on time basis. Sadly, many are not.

To attract the next generation and the ready pool of consumers who do everything online, you need to engage with this audience via social media.

There are over 650 million twitter users posting 58 million tweets every day.

Facebook has a larger followership with over 1.4 billion users, spending at least 700 billion minutes on the network every day and these numbers are growing.

Nigerians are avid users of Facebook.

Over 80% of Nigeria’s educated population between the ages of 18-30 years old are on one social network or the other. They spend quality time on these platforms - Instagram, Snapchat, YouTube, etc.

Yet, we still have people taking pride in not being on social media. Many have made significant improvements to their personal brands by using social media to convey their messages to their target audience. Social media was pivotal in the historic election of President Obama as he was able to reach youths, made them interested in politics and excited

them enough to go to the effort of voting. Many also credit social media with helping Donald Trump win. Twitter was his preferred network which he used to spread his ideology to his teeming supporters.

In Nigeria, social media had a great influence in our democracy, where the “Change” campaign was ignited on all networks and ushered in the Buhari Presidency. Nobody can deny the power social media had in ensuring Buhari’s success.

According to a University of Berkeley research, organisations must realise that 80% of users (in the 16-35 age bracket) use the internet to research information on a product or service they want to buy and increasingly, that’s on social media networks and not search engines alone.

Using social media to reach your customers to tell them about your unique value proposition is no longer an “if” but a “must”. The question most businesses or individuals will have is “where do we start from and how do we figure out which social network to use”?

The first step is to have an effective social media strategy that meets your particular and peculiar need, because the worse thing is having a presence with zero content, stale information or little interaction. I see many organisations in Nigeria trying to engage with their customers but not doing so effectively.

Many are not using it to drive their core business and to push their products. They tend to use it as a means for social engagement to give quotations, announce corporate activities which is good. But, the real benefit should affect their bottom line and engender growth. I have had cause to discuss with CEOs, the disconnect inherent between product developers and the digital teams in their organisations. I usually see a lack of synergy, team work and results.

As a start, in developing your organisation’s social media strategy you need to:

• Research which social network your customers will use most and start with it.

•Buildagreatprofileandfollowbestpractice in doing so. Each social network provides helpful guides and suggestions on what’s best •Develop compelling content. Content is king on social media. Make it fresh, interesting and engaging • Grow your follower base and it should be quality over quantity. Though this depends on the business. For some, everybody should be courted.

• Measure, analyse and adapt. Make sure you are using data to determine what’s working and what is not and track progress.

•Increase frequency of content. Experiment and find your sweet point.

• Conduct targeted follower campaigns by having online campaigns to push particular products. As you know marketing is a mix and social media is a platform for place.

Adesuwa Onyenokwe is one person using social media very well. She conducts some of her programmes via Facebook and YouTube in addition to her print and television programmes.

Feedback from her followers is positive and they like the mode of engagement.

My final word is Embrace Social Media or Die! - Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

BUSINESSWORLD

EQUITIES WATCH

Access Bank Grows Profit

Goddy Egene writes that despite the economic headwinds, Access Bank recorded improved results for the nine months ended September 30, 2016 Mixed reactions had followed the devaluation of the Naira in June 2016. Reacting to what the impact might be for banks, Renaissance Capital had said: “We see a three-fold impact on Nigerian banks from a Naira devaluation: capital, foreign exchange income and asset quality.”

On its part, Fitch Ratings said: “Banks’ ability to continue to generate solid performance indicators largely depends on developments in asset quality and loan impairment trends.”

With the above comments and similar ones on how the naira devaluation would impact banks’ performances, investors have been trending cautiously. While the first half of year results to June 30, 2016 did not reflect significant effect of the devaluation on banks’ results, investors were more apprehensive over the outcome of nine months results of banks.

And when the banks made their corporate earnings available for the nine months to September 30, 2016, it was mixed performance.

Some banks reported growth in profit, while some ended with lower bottom-lines.

However, Access Bank Plc is among the banks that recorded improved results for the nine months, thereby raising shareholders’ hopes for higher returns on investments at the end of the current financial year.

Revenue and Profitability Access Bank reported gross earnings of N274.5 billion, showing an increase of seven per cent compared with N257.6 billion posted in the corresponding period of 2015. An analysis of the gross earnings indicates that interest income rose 17 per cent to N181.2 billion, from N155.4 billion in 2015. The growth was realised on the back of continued growth in the bank’s core business.

Non-interest income stood at N92.9 billion, down from N102.2 billion in 2015. Operating income grew by 12 per cent to N199.3 billion, from N178.1 billion in the corresponding period of 2015. Access Bank posted a profit before tax (PBT) of N72 billion, showing a growth of 19 per cent from N60.4 billion posted in the same period in 2015. Similarly, profit after tax (PAT) rose by 19 per cent from N48.1billion to N57.1 billion in 2016. Return on average equity stood at 18.8 per cent, as against 20.4 per cent in 2015.

Balance sheet In terms of balance sheet size of Access Bank as at September 2016, the bank closed the period with loans and advances of N1.84 trillion, up by 30 per cent from N1.41 trillion in as at December 31, 2015. The Access Bank brand continued to be attractive to the customers leading to a growth of 25 per cent in customer deposits. Specifically, customer deposits grew from N1.68 trillion in December 31, to N2.1 trillion in September 30, 2016. Total assets improved by 31 per cent to N3.39 trillion, up from N2.59 trillion. Capital adequacy ratio stood at N19 per cent, which is well above the regulatory minimum.

Asset Quality/operational efficiency Looking at the asset quality of the bank, the percentage of non-performing loans(NPL) to gross loans stood at 2.1 per cent, up from 1.7 per cent, which reflect the effect of the devaluation of the naira but remained also showed a stable asset quality. NPL coverage ratio remained strong at 209.5 per cent as against 216.4 per cent as at December 31, 2015. Impairment charges rose to N12.3 billion. From N11.6 billion in 2015, while cost of risk improved from 1.0 per cent in 2015 to 0.9 per cent in 2016.

In terms of operational efficiency, cost of funds improved to 4.0 per cent in 2016, from 5.6 per cent in 2015. Similarly, cost to income ratio improved from 59.6 per cent to 57.7 per cent in 2016. However, net interest margin rose to 6.5 per cent, from 6.0 per cent in 2015.

GMD/CEO explains performance Explaining the results, the Group Managing/ Chief Executive Officer of Access Bank, Mr. Herbert Wigwe said the bank’s performance in the first three quarters of this year remained strong and consistent, reflecting a stable business with the capacity to deliver sustainable returns, particularly during a period underlined by

Wigwe

significant macro headwinds.

“The Group recorded a 19 per cent growth in pre-tax profits to N72.0 billion and a net interest income growth of 40 per cent to N106.4 billion, benefiting from enhanced business efficiency as a result of the effective execution of our long-term strategy.

Against the macro economic backdrop, we maintained stable asset quality, recording NPL and cost of risk ratios of 2.1 per cent and 0.9 per cent, respectively. Our capital and liquidity

position remained adequately above regulatory levels, as we continued to implement a disciplined capital plan, ensuring sufficient levels of profit retention to support our growth.”

He said that in addition to capital enhancement, the recently concluded $300 million senior unsecured debt issue allows the bank to optimise and enhance its foreign currency funding capacity whilst strengthening its balance sheet.

“We remain committed to our cost containment plan, as we strive to balance operational efficiency with earnings growth in a constrained

ACCESS BANK NINE MONTHS FINANCIAL SUMMARY 300 250

SEPT 2016 N274bn SEPT 2015 N257bn

200

SEPT 2016 SEPT 2015 N114bn N106bn

SEPT 2016 N106bn

150 100 95 90 85

SEPT 2015 N75bn

80 75

SEPT 2016 N72bn

70

SEPT 2015 N60bn SEPT 2016 N57bn

65 60 55

SEPT 2015 N48bn

50 45 40 35 30 25 20 15 10 05 0

GROSS EARNINGS

NET INTEREST INCOME

OPERATING EXPENSES

PROFIT BEFORE TAX

PROFIT AFTER TAX

environment. The bank will remain resilient in the achievement of its strategic imperatives; maximising our strong market position and solid capital base, while leveraging digital innovation to improve service touch points as we sharpen our retail play with emphasis on cheaper funding sources,” he said. $300m Eurobond boost Access Bank Plc successfully raised US$300 million via a Eurobond from the international bond market recently, a development expected to boost its operations going forward. The successful issue made Access Bank the first Nigerian bank to raise a bond from the international market this year despite the country’s macroeconomic headwinds.

The bank’s management explained that the successful outcome of the bond demonstrated the strength, resilience and international endorsement of Access Bank Plc. Access Bank currently has two series of Eurobonds in issue – the $350 million maturing in July 2017, at a coupon of 7.25 per cent, and the $400 million (9.25 per cent) maturing in June 2021 – as part of a $1 billion global medium-term note programme.

Commenting on the bond, Wigwe said: “The bond will be for working capital, for lending to investment-grade names, including Nigerian companies seeking to expand their exports.”

He emphasised that the process signified a significant moment in the bank’s journey to entrench itself as one of Nigeria’s top three banks by 2017.

“It also ensures that we keep our promise of speed, service and security to our customers as we target Africa’s fastest-growing industrial sectors”, he added.

Access Bank is now one of the top three banks in Nigeria and ranked among the top 500 global banks, according to a 2015 report

by The Banker magazine and is aiming to be Africa’s top bank.

The bank recently won the Best Branch Automation Project in the 2016 Asian Banker Awards; the 2016 Karlsruhe Outstanding Business Sustainability Award; 2016 Euromoney Africa’s Best Bank Transformation Award; and the EMEA Finance ‘Best Bank of the Year’ and CEO of the Year.

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

BUSINESSWORLD

ANALYSIS

Enforcing Sanity in the Financial Sector Penalising banks for unhealthy practices in the foreign exchange market will help enforce sanity in the system, write Obinna Chima

Standard Chartered Bank Nigeria recently joined an ever-growing list of financial institutions that have been found guilty and fined for breaking the Central Bank of Nigeria’s (CBN) foreign exchange (FX) rules.

THISDAY reported last week that the CBN fined Standard Chartered Bank N2billion for FX infraction. The bank, according to the source, drew the central bank’s anger for buying $25million at the official rate and selling same way above the inter-bank market rate.

Apart from the hefty fine, the commercial bank’s treasurer was also said to have been suspended by the CBN that has been battling to rein in unwholesome banking industry practices that have engendered a huge differential between the inter-bank and parallel market rates.

The central bank had ditched its 16-month old peg on the naira in June and introduced a flexible exchange rate regime to allow the currency to trade freely on the interbank market. The move was expected to enthrone transparency and help bridge the gap between the different segments of the FX markets.

Unfortunatelely, as a result of failure of most operators in the market to comply with laid down rules, the disparity between the different FX markets have continued to affect the market.

There has been strong suspicion that some banks and other end users that purchase FX from the interbank market divert some of the dollar cash to the parallel market because of the wide gap between the official and parallel markets.

Forex round-tripping or arbitrage refers to a process whereby funds obtained from the official forex market (at lower rates) are diverted to other markets and sold at a higher rate by forex dealer, banks and end users.

But in its reaction, Standard Chartered has said it remains committed to complying with all local laws and regulations.

The bank had said: “In all countries, where Standard Chartered operates, the bank remains committed to complying with all local laws and regulations. In this matter, the bank continues to engage with the Central Bank of Nigeria officials in an effort to reach a resolution.

“As is the case with all our FX transactions, we believe this transaction is compliant with the applicable FX regulations and policies. We continue to engage with the Central Bank of Nigeria officials on this matter in an effort to reach an amicable resolution.”

President Muhammadu Buhari recently

parallel market. Also, this policy encouraged movement of FX demand from the parallel to the interbank market,” which also brought the two rates closer.

“Finally, new foreign portfolio inflows into the interbank market and our recent policy of allowing commercial banks to transfer some share of diaspora remittances to bureaux de change have also helped moderate rates in both markets,” Emefiele noted.

For now, however, a lack of hard currency is continuing to squeeze economic growth. Businesses, particularly those that must import goods, are bearing the brunt of this, as are Nigerian banks. However, the policy has been beneficial to the economy.

Furthermore, Emefiele said the central bank will pursue price stability as an anchor for economic growth as well as attract foreign investors as the country battles recession and rising inflation.

Emefele

warned that banks, importers and individuals involved in round-tripping of dollars they buy from the CBN’s official market and resell in the parallel market will be made to face the law when caught.

In his response to a question on alleged round-tripping in the FX market, in a recent interview, the president had said: “We are going to check that and we are going to apply sanctions to anybody that is given dollars by the central bank for the importation of essential raw materials, for example pharmaceutical products, and because he can make N100 more, goes to the parallel market to sell it. We will pursue them and obviously would punish them.”

The CBN Governor, Mr. Godwin Ifeanyi Emefiele, recently said the central bank was on the lookout to penalise banks found in such unhealthy practice. He had also warned that if any bank was caught in the act, it is not just the institution that would be penalised, its management would also be severely punished.

The sanction on Standard Chartered Bank, which came less than four months after the central bank also imposed heavy fines on some banks as well as excluded them from participating in the FX market for failing to return a total of

$2.334 billion of Nigerian National Petroleum Corporation (NNPC)/Nigerian Liquefied Natural Gas (NLNG) Company dollar deposits to the federal government’s Treasury Single Account (TSA), was a reflection of the determination of the CBN to ensure that financial institutions fully comply with extant rules and regulations.

Curbing Speculation Emefiele recently argued that the reintroduction of a flexible exchange rate system has helped to increase transparency in the FX market, reduce arbitrage and speculative opportunities, and created a more predictable structure for businesses to prioritise their FX demand.

This policy has led to a gradual but steady inflow of new FX into the market. All of these have largely met the bank’s expectations in the short term. We believe that these benefits will become magnified as the policy’s sustenance improves the credibility of the CBN and investors trust us more to return more forcefully as active participants in Nigeria’s FX market.

“Obviously, the reintroduction of the flexible exchange rate system immediately led to a depreciation of the naira in the interbank market, and helped close the significant spread with the

Ensuring Compliance Also, in an attempt to ensure strict compliance with all extant regulations, particularly those relating to FX transactions, Financial Action Task Force (FATF) and Anti-money Laundering/ Combating the Financing of Terrorism (AML/ CFT), the CBN recently enhanced the minimum qualification for the position of Chief Compliance Officers (CCOs) of commercial banks.

According to the CBN, going forward, banks are required to appoint not only a CCO who must not be below the rank of a General Manager, regardless of the category of the institution, but also an Executive Compliance Officers (ECOs) who must not be below the level of an Executive Director. In a circular posted on its website, the central bank had stated that while the CCO was expected to report to the ECO, the ECO on the other hand would be reporting directly to the board of directors of the bank.

“The CBN will hold the ECO responsible and accountable for any breach of any extant regulation in the bank. For avoidance of doubt, the CBN shall suspend/dismiss any ECO and CCO found wanting in the discharge of his/her responsibility,” the apex bank warned.

According to the circular, the DMBs are required to forward the names of their ECOs and CCOs together with their curriculum vitae to the CBN for approval on or before October 10, 2016.

The ECOs are however allowed to combine the responsibility with other functions while CCOs will focus only on compliance matters in the bank, the CBN added.

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

BUSINESSWORLD

INtERVIEW

Chukwu: Foreign Investors Need Clarity on FG’s Economic Direction The Managing Director of Cowry Asset Management Limited, Mr. Johnson Chukwu, in this interview with Nume Ekeghe, stresses the importance of clarity in policy direction from the federal government in order to attract the much-needed foreign direct investments in the country. Excerpts: considering borrowing about $30 billion external loan. Do you think that is the way to go?

I support borrowing, but I support borrowing that is purely meant for specific infrastructure.

I also think that I we have to borrow $30 billion, maybe we limit the purpose of usage to two or three key infrastructure projects so we can have a completion of those infrastructure project instead of bids of several projects. If you ask me, of the curve I could think of the Lagos –Kano rail, Lagos –Calabar standard gauge-rail. If we do both and maybe we spend about $18 billion and we have another $12 that goes into key highways we would create a corridor of infrastructural asset that will help grow our productive capabilities and possibly improve our foreign exchange earnings.

Has there been any significant inflow of investments into the country in recent times?

In recent times, what we have seen is more of outflow of investments from the country.

In 2010 to 2015, we saw a reasonable growth in foreign portfolio in the country but that began to dry up in 2015 and then now we basically have net outflows from the country instead of net inflows by foreign investors.

Are you saying there are no inflows of foreign direct investments?

It is not that none is coming in, but the amount coming in is in trickles compared to what is leaving.

Why don’t you think the country has been unable to attract foreign investors into the economy?

A couple of factors are responsible. Firstly, is the deterioration in our macroeconomic environment. At some point, we saw a threat of devaluation, which we eventually saw. At another point there was every probability that the naira was overvalued and foreign portfolio investors would not bring money in an economy where there was a high likelihood that the currency would depreciate or devalue.

Whatever gain they were going to make in terms of capital gain or return on investment would have been eluded by the devaluation of the currency. Unfortunately now, we no longer have liquidity in FX market. Liquidity in FX market is necessary for portfolio investors to come in because they want to take out their money when the feel like. But if you do not have liquidity, in your foreign currency, then it becomes difficult because when they sell their investment in local currency, to convert it back to the foreign the currency and would need to take it out.

So liquidity in Nigeria’s FX market is one of the challenges. We have other issues on the economic directions of the government; the delays they had in putting a cabinet and like I said, the not well defined economic policy of the government. We have been oscillating between something that looks like a command and control economy and something that looks like a free market economy. Investors want to have clarity about the economic orientation of a country before they put in their money. These factors, added to the fact that our foreign reserves have deteriorated significantly which put into equations, the capacity of the country to meet all its maturing foreign currency obligations. So when investors put these things together, they decided to be on the watch to look at how things go. Beyond this, we have also seen a significant some policy choices we have made that kind of affected the assessment of Naira denominator instruments by international rating agencies and international portfolio managers.

We have seen an exit from the JP Morgan global board index because of lack of liquidity in the FX market. We have seen a needed exit from the emerging market index because of lack of liquidity in the FX market and with your instrument no longer qualified as an investment instrument has also seen a deterioration in our ratings by S&P. these are factors investors would consider before they can patronise.

Are the steps taken by the CBN to liberalise the market having any impact?

The Central Bank Governor announced that about $1 came in august. That on its own is positive news but if you look the level of flows we were getting in the past, I think it is still a drop in an ocean. But most importantly is that investors responded to the liberalisation of the FX market. But unfortunately now we

Chukwu

have a huge differential between the parallel market and the official market. And when you have a huge differential between the parallel and official market, it is an indication that the currency may still suffer some devaluation and depreciation and investors would not come into a country whose currency has a strong potential to devalue further.

What do you think is responsible for the huge gap between the parallel and

We have been oscillating between something that looks like a command and control economy and something that looks like a free market economy. Investors want to have clarity about the economic orientation of a country before they put in their money

official markets?

There are a couple of factors, one of which is that because of the long time it took for use to devalue, it kept away autonomous sources from the market and that let to shortfall in the supply in the parallel market. Also the 41 items CBN excluded from accessing the official market meant that those 41 items would have no choice but approach the parallel market. So the shortage of supply and inability of the CBN to meet demands at the official market meant that a lot of demand that where t the official market had to move to the parallel market and beat up the little supply in the parallel market.

So those are the factors causing this gap.

Recently, the CBN has been intervening by supporting manufacturers and airlines, what is your take about that?

That would be sustainable to the extent that our foreign exchange earnings improve and with the hope we increase our crude oil sales and government earning improve.

The absence of the improvement of foreign exchange earnings and I’m also happy that the president is meeting Niger Delta stakeholders to try and moderate the level of militancy and bridge of oil facilities in the Niger Delta.

If we can achieve that, and go back to oil production of about 2.2 million barrels and supplement it with other policies that allow foreign investors come and invest in some of the core assets whether in Greenfield or brownfield asset, then we would be able to sustain the intervention by CBN. If that is not done, the CBN would wear out its capacity to intervene in the market and that is a challenge because if CBN runs out of capacity to run the market, you would see a runaway depreciation in the economy.

President Muhammadu Buhari is

So, what would you advice the federal government to do to revive the economy?

I think we have to start from the point where we need an economic blueprint. The economic blueprint means the government would indicate how it wants to compete; are we going to be a control and command economy or are we going to be a free market economy. If we are going to be a free market economy, are we going to be a service oriented economy or a manufacturing economy? If we are a manufacturing economy, how are we going to handle the issues of interest rates, inflation and exchange rate? We also need to do something to complement a manufacturing economy like critical infrastructure, power supply transport infrastructure, labour etc. we have to be at that point where you have a comprehensive economic plan and then we can break it down to different sectorial basis. It is only when you do that, before we can have coordination between monetary policy and fiscal policies. Without a defined economic objective, we may continue to have this disharmony between monetary and fiscal policies because they tend to be pursuing different objectives. When we define our overall economic objective and then the policies - both fiscal and monetary would now be to support the overall economic objective of the country.

For example if you want to be a manufacturing economy, you cannot have high interest rate because it would not support manufacturing.

Also you know on the fiscal side, you need to build infrastructure, you need to come up with trade policies that would protect the manufacturing sectors. Also we need to have a coordinating unit maybe in the office of the minister of finance or the Vice President that would make sure there is harmony. And then the economic management team, which includes the fiscal and monetary authorities, should meet and discuss critical economic issues and make sure there is a buy in of this different arms and policies.

What do you think the federal government can do in order to attract FDIs? The first think I think is that we need to present ourselves as a country as one willing to do business. Out there, the foreign investors are not sure whether we want to attract private investors or not. Secondly, we must involve tools or policies through which the foreign investors can come in. And at the administrative level, we need to enact the appropriate laws that will make it difficult for anybody to reverse concession granted by the previous government. Those are the kind of things that you would need to do to attract foreign direct investors in the country. On the foreign portfolio investors, we would need to achieve a higher level of FX liquidity for them to consider us as an attractive investment destination.

T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

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BUSINESSWORLD

Royal Exchange Announces 22% Growth in Gross Written Premium in 9 Months Stories Ebere Nwoji Royal Exchange plc, one of the insurance and financial services group in Nigeria, said it grew its gross written premium in the first nine months of 2016 business year by 22 percent from N 8.87 billion in September 2015 to N10.82 billion as at September, 2016.

The insurance group, also said its Gross Premium Income witnessed an increase of 15 percent over the corresponding period in 2015, with the 2016 amount standing at N9.38 billion, compared to N8.19 billion achieved the same period in 2015.

However, net claims paid to Royal Exchange clients grew marginally by 4 percent from N2.43 billion to N2.52 billion for the third quarter.

Net Income for the period amounted to N2.67 billion, with a modest growth of 12 percent over that of 2015, which stood at N2.36 billion.

Profit Before Tax (PBT) grew to N274.60 million as at third quarter, 2016 from N111.34 million achieved in the corresponding period in 2015, resulting in a growth rate of 14 percent.

Speaking on the third quarter results, which according to the Group Managing Director of the company Alhaji Auwalu Muktari, have been announced on the floor of the Nigerian Stock Exchange (NSE), he said despite the prevailing economic recession in the country, Royal Exchange was able to grow its

business portfolio by focusing on the ever-growing retail insurance market as well as participating in large-ticket corporate transaction.

According to Muktari, Royal Exchange Plc, witnessed growth along most of its performance indicators because the company focused more on its core business of insurance and implemented a cost optimisation strategy across all the subsidiaries of the group, which resulted in profitability and growth across the Group.

He further added that the results recently released have shown that by focusing on the Group’s growth objectives set out at the beginning of the year, Royal Exchange, will be able to continually grow its business portfolio and provide substantial returns to its shareholders.

Muktari further opined that Royal Exchange shall continue to focus its efforts on aggressive sales of its various product and service offerings as well as sustain its cost optimisation strategy with a view to meeting the group’s 2016 forecast”.

Speaking further, he said that the Board and Management of the company are optimistic that the fourth quarter will also be a period of growth for the company, especially if the public sector (federal and state governments) are able to finalise the insurance of their assets.

Royal Exchange, a premier insurance company in Nigeria, started operations in 1921 and has continued to be driven by innovation and determination to offer services that are of exceptional value to its customers.

INSURANCE

Micro Pension Scheme Takes Off Soon, As PenComTargets 250,000 Contributors The National Pension Commission Pension (PenCom), said it has made adequate preparations for the take off of its micro Pension Scheme, just as it said it has targeted to enroll a minimum of 250,000 informal sector workers in the micro pension scheme within the first six months of its take off.

The commission, disclosed this at a recent workshop organised for journalists in Calabar, Cross River State.

Speaking at the forum, Head Micro Pension Department of PenCom Polycarp Anyanwu said already the commission has set up micro pension department made up of 23 staff, developed a micro Pension data base, and has been collaborating with potential contributors for the micro pension scheme.

He said the commission has been collaborating with chambers of commerce, as well as other government agencies in charge of small businesses such as Small and Medium Enterprise Development Authority ( SMEDAN) and is working on guidelines for the commencement of the scheme.

Anyanwu explained that Micro Pension initiative exists for the provision of pension coverage to selfemployed persons, adding that in Nigeria, it covers three strata of income earners namely lowest, middle and high income earners.

According to him, the commission is working assiduously to enroll 250,000 contributors within six months of the commencement of the initiative.

He disclosed that the commission is also targeting the self-employed in various trades and professions in Nigeria such as artisans, accountants, lawyers, mechanics, tailors, market men/women, hair dressers, architects, engineers among others.

Anyanwu maintained that the scheme is an offshoot of the Pension industry five year strategic plan to expand the coverage of the CPS to 20 million contributors by 2019.

According to him, the commission has also reviewed the implementation of Micro Pension in other jurisdictions like Kenya and Ghana; formulated Guidelines and Framework on Micro Pension; consulted licensed Pension Industry Operators and enhanced its information and communica-

tions technology capacity to accommodate the scheme.

On benefits accruable from the initiative, he said, it would avail the contributor access to regular stream of retirement income at old age and improves living standards of the elderly.

He said Contributors are to benefit from the various incentives to be offered by the PFAs adding that the initiative would deepen financial literacy and inclusion; secures financial autonomy & independence of retirees; passage of wealth to survivors in the event of death; increases National Savings and long term funds; promote growth development of the capital, mortgage and insurance markets and have positive effect on the national economy as pension assets increases.

IEI- Anchor Pensions Marks Anniversary, Pledges to Meet Clients’ Expectations IEI- Anchor Pension Managers Limited, one of the licenced Pension Fund Administrators, said in celebrating 10th year anniversary of its operation in the Nigerian pension system, it has targeted at structuring a pension portfolio that is consistent with clients’ needs and expectations.

It also pledged that it will target a pension portfolio that secures and grows the asset under management as well as one that desires to place its pension fund administration expertise at the disposal of the workers in order to assist in achieving their retirement objectives.

Managing Director, IEIAnchor Pensions, Glory Etaduovie, who disclosed this in a statement to journalists on activities lined up for the tenth year anniversary of the company in Abuja, said the company has made its service delivery to customers simple, speedy responsive, seamless, customer-centric and technology driven.

“Back functions are efficient, leveraging on technology to sustain and improve the high level of customer service Our company has a service culture with measurable per-

formance criteria and metrics”, he stated.

He said IEI - anchor Pensions provides technology-based customer solutions to third parties on an outsourced basis, adding that the PFA, aims at creating a customer experience that is consistent and value-adding.

On the company’s service delivery to customers, Etaduovie, said IEI- Anchor Pensions offers clients a real-time easy access to their investment portfolio every time , every day adding that this is supported by a robust and sophisticated ICT System.

“Covenant Visions International Limited; we have installed the Sybase PFA manager as our core administration software supported

by Covenant Visions.

Micro Access Nigeria Limited; they are our service providers in the area of ICT hardware, internet applications, e-business infrastructure and mobile computing.

We combine these external support with our in-house capabilities to ensure safety of your information while providing you easy access to your fund administrator”, said Etaduovie.

FOR PROPER WASTE MANAGEMENT

L-R: Biomass Fuels Project Manager, Geocycle, Lafarge Africa Plc, Greg Salami; Head, Branding, Sterling Bank Plc, Peju Ibekwe; Head, sub-Saharan Africa for Geocycle (Waste and Common Management for Lafarge, Holian Group), Olivier Doyen and Chief Executive Officer, Globetech Remedial, Ola Oresanya, during the National Waste Management Conference in Lagos…recently

Continental Re Announces 16 percent Increase in Q3 Gross Premium Ebere Nwoji Continental Reinsurance Plc, has announced N17.5 billion gross premium Income for the third quarter 2016 business period.

This represents 16 percent rise from N15.1 billion gross premium income written by the company in the corresponding period in 2015.

The Group Managing Director of Continental Re, Dr. Femi Oyetunji, who disclosed this in a statement made available to THISDAY said : “Growth opportunities and challenges continue to vary widely across our markets, while short-term risks have introduced setbacks in certain

countries – fundamentally altering the pace of growth.

In line with the company’s strategy, progress continues to be spurred by our diversified presence across the continent,” he stated.

He said the company recorded an underwriting profit of N746 million in 2016, a decrease of 42 percent from N1.28billion in third quarter 2015. He explained that the modest outcome was primarily caused by the impact of a few large claims that compromised profit expectations.

Announcing the company’s other financial results within the same period, Oyetunji stated: “Investment and other income stood at N5.1 billion, a 212 percent growth

year-on-year.

“The significant growth was partially attributed to unrealised gains on hard currency assets as a result of foreign exchange movements following the sharp devaluation of the Naira. Profit before tax was N5.03billion, (2015: N2.07billion), an increase of 143 percent”, he stated.

He however said African continent, the main market serviced by the company is still vulnerable to external shocks, observing that the slowdown of the global economy has dampened Africa’s growth prospects.

He said notwithstanding upsets in some of the markets, the Company is poised to continue along a positive growth

trajectory. “Underpinning the Company’s growth prospects is the diversification business model that offsets increased competition and the influx of international companies, particularly from developed countries.”

“We remain intensely focused on maintaining underwriting discipline and our focus on profitability over growth to further strengthen the Company he stated.”

Oyetunji recalled that in the month of October 2016, global rating agency, A.M. Best affirmed the Continental Re financial strength rating of B+ (Good) and the long-term issuer credit rating of “bbb-“, adding the outlook of the credit ratings was stable.

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

BUSINESSWORLD

NEWS

Prestige Assurance Settles N1.5bn Claims in 2016 Ebere Nwoji Prestige Assurance plc, said it settled over N1.514 billion claims in the past nine months of the year 2016.

The Managing Director of the company, Dr Balla Swamy, gave a breakdown of the payment saying claims from fire insurance recorded the highest figure of N505,812,970.00 He said this was followed by motor with N79,438,762.00 claims while other classes of business where claims emanated

from included GIT, oil and gas, general accident, engineering, marine and aviation.

Swamy reiterated the company’s commitment towards its obligations of claims settlement, which he said is the hallmark of any insurance company, adding this is in line with Prestige Assurance strategic direction pursuant to market penetration, which focuses on customers satisfaction as well as the regulatory framework.

He also said the Dana air crash claim, which was a major

national calamity was paid

by Prestige Assurance with other co-insurers to the tune of $13.6m (30% local content) as at date.

He said the company paid the above claims despite the fact that the nation’s economy has continued to go through turbulent times, as creeping inflation, forex uncertainty, rising unemployment and bleak economic prospects persist.

According to him, Prestige Assurance, up to the third quarter showed three percent

growth by completing N2.015 billion gross premium. Investment income earned by the company, stood at N352 million and made a profit after tax of N289 million.

According to him,going by the current harsh economic conditions, this is no mean fit. This demonstrates that the company is committed to putting its customers first.

Swamy also said it epitomises the company’s core values of integrity, innovativeness, proficiency and dependability.

He noted that Prestige Assurance, has a stable outlook and has in its over six decades of existence, been consistent and reliable in prompt claims settlement, a situation which Swamy said has enabled customers subscribe to its services.

He informed that the National Insurance Commission,NAICOM, has approved the Health Insurance Product of the company called Prestige Mediclaim Policy which is already available to the insuring public and can

be availed from the Company’s website.

Furthermore, Swamy, disclosed that as part of its strategy to deepen market penetration, grow premium and impact more on the lives of the citizens, the Company has already approached NAICOM for approval of its new line of products tailored to suit the need of the public which cut across all classes of Nigerians ranging from low to highincome earners and from all walks of life.

Music+ Gets International Recognition •Wins Global Telecoms Awards For its innovative contributions to the development of digital music distribution in Africa, Music+, Africa’s largest digital music service, powered by leading ICT company, MTN Nigeria, has won the award for ‘Digital Content Services of the Year’ in the 2016 edition of the Global Telecoms Awards (GLOTEL).

Now in its 4th year, the highly coveted Glotel Awards which is organized by ‘Telecoms.com’ rewards innovative companies across the telecoms industry worldwide. The award organisers particularly lauded MTN for being consistently innovative in deploying music as a platform to give other value added services like the highly successful Caller Ring Back Tunez (CRBT) to its teeming subscribers.

Speaking on the award, MTN Nigeria’s General Manager, Consumer Marketing, Richard Iweanoge, said that the growing impact of digital music distribution across the globe as well as MTN’s desire to provide a platform for music content owners to monetize their works necessitated the creation of Music+. He added that the award affirms Music+’s position as Africa’s foremost digital music content service since it debuted.

“The popularity and acceptance of digital music service globally resulted in the introduction of Music+. Since its

inception, the service has been aggregating music content from artistes which it delivers to music lovers via their mobile devices.

The exciting part of it is that the artistes are compensated for their intellectual properties thereby creating a win-win situation for everybody. Since its inception, over N3.5 billion has been paid to music content owners as royalty thus making it a profitable means of livelihood for them.”

While adding that Music+ has helped in curbing the menace of piracy of music works in Nigeria, Iweanoge further stated that the platform offers several music-themed campaigns for music lovers in the country.

In his words, “Today, Music+ has become an integral part of the fight against music piracy because artistes can now benefit directly from their works. Beyond that, Music+ also engages music lovers in the country through themed events like the ‘Music+ Next Rated Campaign,’ ‘Music+ Noiseless Concerts,’ ‘Music+ Unplugged Thursdays’ amongst others. These events are all aimed at driving engagement and adoption of the music streaming and download service and they have positioned Music+ as the foremost digital Music platform in Nigeria and in Africa,” Iweanoge declared.

Diamond Bank Partners EDC As part of its commitment to building and supporting economic growth and development in the country, Diamond Bank, in partnership with PanAtlantic University’s Enterprise Development Centre (EDC), has rolled out series of activities to celebrate the immense contributions of entrepreneurs in driving economic growth and development in the country.

The weeklong event which commenced with a ‘Walk for Entrepreneurship’ last Saturday, in Lagos, was seen by many as a strategic move to highlight programmes that will help accelerate capacity development and boost productivity.

The Global Entrepreneurship Week is celebrated in over 160 countries across the world. And as part of the celebration in Nigeria, the Entrepreneurship Walk will also hold simultaneously across other five major cities including Ibadan, Enugu,

Port Harcourt, Nsukka and Abuja.

Head, Corporate Communications, Diamond Bank, Chioma Afe, stated that despite the enormous challenges confronting Nigerian entrepreneurs, the bank’s contribution in economic growth and development, especially in the MSME space was undeniable.

According to her, Diamond Bank remains passionate about operators in the MSME sector, noting that in the partnership with EDC “we want to let them know that we treasure and value their roles.”

A statement on the Global Entrepreneurship Week, GEW, affirm that the initiative celebrates the contribution and passion of entrepreneurs that bring ideas to life, drive economic growth and contribute significantly to expand human welfare.

FOR ACCURATE IDENTIFICATION

L-R: An official of Overland Airways, Abiola Abiodun; Managing Director, Overland Airways, Capt. Edward Boyo; Managing Director, Federal Airports Authority of Nigeria (FAAN), Saleh Dunoma; Director of Human Resources, FAAN, Hajia Salamatu Umar-Eluma and another official of Overland Airways, Niger Temlong, when Boyo visited Dunoma to congratulate him on his election as President of Airport Council International-African Region ... recently

Yudala Offers Unmatched Discounts Nationwide with Black Friday Emma Okonji Africa’s pioneer composite online and offline e-commerce giant, Yudala is set to offer its teeming customers nationwide an unbeatable experience with its unique Black Friday promotion tagged: ‘Wait for the Real Black Friday’, featuring unmatched discounts across its wide range of products portfolio from November 24th – 28th 2016.

The company is also set to give millions of Nigerians a chance to get an early taste of its Black Friday discounts through a week-long promotion.

Yudala had stunned the e-commerce world and made history during its first ever Black Friday promotion in November 2015 with the drone delivery of the first order which was incidentally placed by a staff

of Access Bank, Mrs. Yetunde Lawal – a feat which has received global acclaim as the first recorded instance of product delivery using a drone in the e-commerce world. Furthermore, Yudala had also set a new record by being the first e-commerce outfit to launch an online and offline Black Friday promotion which afforded many the opportunity of visiting its chain of Experience Stores to take advantage of the mouth-watering deals on offer.

According to Founder/Vice President, Yudala, Prince Nnamdi Ekeh, Nigerians are in for a more rewarding experience with this year’s edition.

“Last year, we re-defined the concept of Black Friday with the world’s first recorded drone delivery and by making it an online and offline affair. That way, many of our customers were able to

by-pass the huge traffic online by simply visiting any Yudala Experience Store nearest to them.

“This year, we are asking Nigerians to – Wait for The Real Black Friday. For the avoidance of doubts, the real Black Friday will commence from Thursday November 24th to Monday November 28th exclusive to Yudala and as was the case last year, it is going to be online at www.yudala.com and offline in every Yudala Experience Store nationwide.

“With the Real Black Friday powered by Yudala, you are guaranteed genuine products and peace of mind in line with the Yudala tradition and most importantly, unbeatable discounts that cannot be matched anywhere else in the market-place. What’s more, we are offering Nigerians more value with the guarantee

of same day delivery of their products nationwide as well as unimaginable convenience with our various delivery and order fulfilment options,” Ekeh said.

Among the wide range of products on which consumers can enjoy Yudala’s rock-bottom prices are smartphones, laptops, computers and accessories, choice wines, cognacs and spirits, men and women fashion items, healthy living products such as air fryers, smoothie makers, etc.; consumer electronics such as the award-winning iPowerPlus inverters, UPS, washing machines, refrigerators, Generators, Home Theatre Systems, TV sets, air conditioners; kitchen appliances including blenders, irons and steamers, cookers, microwaves, deep fryers, food processors and baby products, among many others.

InterC Network Excites Consumers with Free Internet Data Emma Okonji InterC Network has unveiled a data promotion for customers in Abuja, Port Harcourt and Kaduna who want to enjoy more data for less on its new 4G/LTE Advanced network.

The promo offer, according to the Commercial Director, Sarah Agha, is the most affordable in Nigeria at the moment and especially coming from the most advanced technology in the telecom market 4G LTE advance Network. The promo offers consumer free

4GB internet data for the first month and 25 per cent off on the second month.

“We are excited about our new 4G LTE service offering.

That is why we want consumers to experience our service now what we are able to offer the latest in high speed wireless broadband services at most competitive prices. We are aware that many have not been able to receive truly quality broadband services before now, but through our 4GLTE services, we are able to help to address this need with

a quality Internet solution,” Agha said.Agha also said that the need to give consumer this offer is in fulfillment of InterC Network’s mission, which is to truly address the existing gaps in the market in the area of poor service delivery and cost effectiveness. “We are actually out to provide sustainable quality services through a high capacity 4G LTE network to Nigerians, and this what we are delivering” She affirmed.

InterC Network, promoted

by Intercellular Nigeria Limited

launched its 4G LTE services through its 800 MHz spectrum band offers unique value proposition that includes the provision of the most advanced communications technology solutions in the industry to customers in three cities of Abuja, Port Harcourt and Kaduna in August this year.

The company according to the statement is deploying affordable superior broadband services that will help individuals and businesses achieve faster connectivity on their mobile devices.

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

EDUCATION Creating Opportunities, Rethinking STEM Education

Considering the importance of Science Technology Engineering and Mathematics education to the development of every nation, the Agbami Co-venturers recently held a symposium in Lagos to among other things, identify issues in Nigeria’s STEM education reforms and provide principal strategies to ensure that STEM education is elevated to a national priority. Far-reaching recommendations were also made by stakeholders. Uchechukwu Nnaike reports Nigeria is said to be in the league of developing countries as a result of its little or no investment in the field of Science Technology Engineering and Mathematics (STEM) education, which is believed to be the bedrock of development. In this period of recession, when it has become necessary to seek alternative sources of revenue, STEM has been identified as the only way to achieve that.

Determined to provide an opportunity for Nigerian youths to pursue careers in STEM to succeed in the new information-based and technology-driven global society, the co-venturers in the Agbami field- Star Deep Water Petroleum Limited (A Chevron Company); Famfa Oil Limited; Statoil Nigeria Limited; Petroleo Brasileiro Nigeria Limited; and the Nigerian National Petroleum Corporation (NNPC) - began investing in education in 2008.

They have invested over N7.5 billion on the Agbami Medical and Engineering Scholarships (AMEPS) which targets building capacity in students of medical and engineering courses across the country; they have also built, furnished and equipped 32 science laboratories, and six hybrid libraries, which in addition to the students, have also empowered 38 local community contractors during their construction. A total of 20 chest clinics have also been built in some states in the country.

The AMEPS, which commenced in 2009 is merit-based and only open to college undergraduates with medical disciplines (incorporating related medical science fields), and engineering disciplines (incorporating related science and mathematics fields). Students from all states in Nigeria are eligible, and students enrolled in all NUC-accredited universities in Nigeria are eligible.

To date, 15,356 scholarships have been awarded through the AMEPS, while 122 beneficiaries graduated with first class. For the hybrid library projects, a total of 13,136 students are direct beneficiaries, 3,940 (30per cent) of whom are females. For the science laboratory projects, 21,773 students are direct beneficiaries in the 23 schools across the country, while 9,173 (42 per cent) are female beneficiaries. The result of the visit by the co-venturers showed that 14 of the 23 schools visited registered students for 2014 May/June West African Senior School Certificate Examination (WASSCE); 1,526 students in the 14 supported schools registered for chemistry, biology and physics in 2014 WASSC examinations, while 990 students (65 per cent) scored “credit” or higher in chemistry, biology and physics in the examination. Speaking at the symposium with the theme ‘Advancing Innovation and Corporate Citizenship in STEM Education’, the Director, Deepwater and Production Sharing Contracts, Star Deep Water Petroleum Limited (A Chevron Company), Mr. Jeffery Ewing, stressed that Science, Technology, Engineering and Mathematics are some of the key subjects to study now because of the need for Nigeria to evolve the scientific and technological innovations needed to face the challenges of globalisation and to build an evolving knowledge-based economy.

“More importantly, STEM education is directly linked to global competitiveness and future economic prosperity.”

Ewing, who was represented by the General Manager, Deepwater and Production Sharing Contact, Star Deep Water Petroleum Limited, Mr. Lanre Kalejaiye, said the symposium hopes to among others, suggest improved or alternative learning approaches in STEM education, including ways to strengthen the adaptation of these approaches to the educational sector; encourage and recommend engagement opportunities for

From left: Baba Ikhazobo, Dragnet Nigeria Ltd; Centre Manager, Lagos Business School, Dr. Ijeoma Nwagwu; the Manager, Social Performance and Planning, Policy, Government and Public Affairs (PGPA), Chevron Nigeria Limited (CNL), Debo Lukanmbi; Manager, PGPA, Lagos, CNL, Sam Otuonye; former Minister of Communications Technology, Dr. Omobola Johnson; General Manager, Deepwater and Production Sharing Contract, CNL, Lanre Kalejaiye; founder of Beni American University, Gossy Ukanwoke; and Advisor, Deepwater, Community Engagement, PGPA, CNL, Mike Kabi, at the symposium recently

A cross-section of students at the symposium

how Nigerian businesses can effectively support STEM education as part of their commitment to corporate social responsibility; and highlight the importance of STEM education to the nation’s development efforts.

“As Agbami Co-venturers, we believe that the most rewarding investment is the investment in people because the greatest assets of a nation are its people. This is the underlying philosophy behind our social investment in the areas of health, education and economic empowerment.

We believe in the principle of adding value and enriching lives in any society we operate in.”

On the rationale behind the intervention by the co-venturers, the Manager, Communications, Chevron Nigeria, Mr. Sola Adebawo said they identified an opportunity gap in the country.

“We discovered that in Nigeria we are not short of intelligent young people or bright minds, but we are short of opportunities.”

He said they considered that to have engineers and doctors and other scientists that will drive the country’s economy, they have to have studies STEM at the early stages. He added that it was also discovered that many schools lacked laboratories and sciences cannot be studies effectively without laboratories.

“What the co-venturers have done is to start from the basis to create opportunities for young people to be stimulated towards the study of sciences. We decided to approach it from a number of places; first is to help produce science education infrastructure which led to the construction of science laboratories, fully equipped with the latest equipment.”

He added that the co-venturers wanted to

make sure that the next person to find a cure for cancer is not hindered because the parents cannot pay for medical education so that led to the support for engineering and medical sciences through the Agbami scholarship and the result has been phenomenal. Also, chest clinics were provided to enable doctors to contribute to the wellbeing of the nation.

In a keynote address titled ‘Revising Priorities in STEM Education in Nigeria’, a former Minister of Communication Technology, Dr. Omobola Johnson, regretted that STEM has been undermined in Africa, as she quoted a statistics which showed that 70 per cent of graduates in sub-Saharan Africa got a social science or humanities degree. She said the demand for skilled workers in STEM is closely tied with global competitiveness, adding, “you cannot be a competitive economy if you don’t prioritise STEM. According to her, STEM has become unattractive among Nigerian students despite its many potential as a result of some challenges like the dearth and poor quality of teachers, poor infrastructure, and the belief that STEM is difficult. She stressed the need to declare a national emergency in STEM and called for more special grants and scholarships to encourage more people to go into the field, saying that the number of scholarships awarded by the co-venturers is not enough.

The ex-minister said there is need to take some Nigerian students abroad to gain experience with the intent of returning to the country after their studies; provide internship and job opportunities

for STEM graduates to avoid losing them to other fields; as well as to provide research grants in the field of STEM. She also suggested making mathematics and one other STEM subject compulsory for admission into the university regardless of the course of study so as to ground graduates in the field of STEM before they go into other fields; improve the teaching of maths and science by equipping the teachers; attract some teachers in the diaspora; and organise more science fairs and competitions.

She also regretted that women are underrepresented in the field of STEM and called for programmes to encourage more women to go into the field and remain in it. Also, she said successful women in the field should act as role models to younger ones.

Some of the recommendations made during the panel discussion on the theme ‘Encouraging Sustainable Corporate Citizenship in STEM Education- What Works?’ included: the formulation of an education policy that is focused on STEM; less emphasis on certificates with more emphasis on skills and competence; collaboration between education institutions and industries to determine the knowledge and skills students are expected to possess.

It was also suggested that the relationship between the government and the private sector should be more of a synergy in the area of policy formulation, and that government should involve all stakeholders in all of the processes for continuity and mutual understanding; students were also encourage to embrace entrepreneurship education so as to add value to the society.

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

EDUCATION

200 World Renowned Writers Fight for Children’s Rights Kuni Tyessi in Abuja

Over 200 prominent writers, including novelists, playwrights and poets have joined a global literary campaign this week, penning ‘tiny stories’ of around seven lines each to highlight Universal Children’s Day and the injustice so many of the world’s poorest and most disadvantaged children still face.

The short story series kick off

UNICEF’s commemoration of its 70th year working to bring help and hope to every child.

The short stories will be shared by some of the world’s most celebrated writers with their own social media audiences.

The first lady of Finland, Jenni Haukio introduced the concept, which gained global momentum with writers joining from Asia, Africa, South America, Europe, the Middle East and Australia.

According to the celebrated Nigerian author, Chimamanda Adichie, “as writers, we are able to advocate through the simplicity of storytelling. With this worthy and necessary campaign, we advocate for the protection of the rights of precious children all over the world.”

The group of writers, whose genres range from fairy tales to fiction includes one of the

world’s youngest published authors, seven-year-old South African, Michelle Nkamankeng.

Written in over 10 languages and varying in style, all stories illustrate that the rights of many children are still neglected.

The campaign comes at a time when there are increasing threats to child rights. Over 50 million children have been uprooted from their homes due to conflict, poverty and climate

change and millions more are facing unspeakable violence in their communities. Around 263 million children are out of school and last year nearly six million children under five died from mostly preventable diseases.

“It is shocking to see that the lives of many children are still so heavily impacted by the horror of conflict, inequality, poverty and discrimination.

I hope these tiny stories can remind the world that we must sustain our commitment to all of these children whose lives and futures are at stake,” said UNICEF Spokesperson, Paloma Escudero.

Adichie used her ‘tiny story’ to launch the series, which will run until November 20, the anniversary of the adoption of the UN Convention on the Rights of the Child.

NUT Laments Discrimination against Anambra Teachers David-Chyddy Eleke in Awka The Chairman, Anambra State Chapter of the Nigeria Union of Teachers (NUT), Ifeanyi Ofodile, has lamented the shabby treatment of teachers by the state government.

He said teachers were discriminated against in the area of promotion, trainings and other incentives accruing to other workers.

Ofodile expressed concern that promotions are not evenly conducted in the state civil service, just as he observed that those in the ministries, departments, parastatals and agencies of government are promoted as and when due, but their counterparts in the teaching profession are marginalised and discriminated against.

Briefing journalists at the Teachers’ House in Awka, he disclosed that promotions have not been regular in the teaching sector since 2014, adding that some promotion interviews

have been concluded while some have not been scheduled thereby resulting to stagnation in teachers’ wellbeing.

He said attempts to reach Governor Willie Obiano to relate to him have been stalled by bureaucracy in government. He however thanked the Obiano administration for approving special pay for teachers in rural communities especially those serving in flood-prone areas.

He also thanked the governor for providing water ambulances, as well as makeshift camps for people in the riverine communities in a bid to ensure access to quality and functional education for those in the hinterlands.

“We thank him for this, but we seek to let him know that teachers are the only set of workers that have never received bags of rice as Christmas gifts from government since December 2014. Every public and civil servant in Anambra State receives a bag of rice from the state at such occasion.”

Microsoft, Dynamiss to Boost Digital Learning in Schools Sunday Okobi Microsoft Nigeria and Dynamiss Solutions have concluded plans to launch a new initiative to fast track digital learning in Nigerian primary, secondary and tertiary institutions.

Schools proprietors, heads and ICT directors will be the focal point of the initiative on November 16 in Lagos, where they will be compelled to include ICT training as part of the curriculum at all levels.

According to the Microsoft Specialist Sales Executive, Ms. Jordan Belmonte, the company will reveal an initiative that integrates ICT into the classroom while ensuring the sustainability of the programme by enabling schools to also financially benefit from the implementation of the solution “as the programme is subsidised and made affordable for students.”

Also, Dynamiss will disclose the benefits of its new learning management system, which incorporates Microsoft Office 365 as core element of classroom and out-of-school learning for

students and teachers.

Briefing journalists in Lagos recently, Belmonte, who doubles as the Microsoft Head of Education for Nigeria, said “Microsoft Nigeria is committed to promoting lifelong learning by providing affordable access to education solutions and promoting the adoption of ICT in schools. We believe that investment in education is a critical component of preparing youth for the global workforce and is directly tied to a countries economic growth.

“The pilot project, which will commence in Lagos before spreading to other parts of West Africa will empower the entire education community- students, teachers and parents- and benefit them financially in order to sustain the programme.

“Microsoft will be unveiling a 21st century skills centre that benefits both students, teachers and surrounding communities by providing schools with access to a vast e-learning platform and affordable professional certifications.”

A WORTHY RECOGNITION

L-R: A former Secretary-General of the Commonwealth, Chief Emeka Anyaoku; Chairman of Safari Books and Okun Borode of Ife, Chief Joop Berkhout; Mrs. Bianca Ojukwu; and the Director, Centre for International Advanced and Professional Studies, Prof. Anthony Kila, during a programme to recognise Berkhout’s contribution to the intellectual life of the country... recently

University of Roehampton’s Online MSc in Psychology Gets BPS Accreditation The online MSc in Psychology programme offered by the University of Roehampton, London has been accredited by the British Psychological Society (BPS), the representative body for psychology and psychologists in the UK that is responsible for the development, promotion and application of psychology for the public good.

According to the VicePresident, Academic Affairs for the online programmes, Professor Clare Pickles, “achieving this recognition makes us very proud as we are one of the few online psychology programmes to receive this accolade; it underpins the rigour and value students and employers expect from

the University of Roehampton, London Online.”

He said gaining BPS accreditation helps graduates access a range of training, development and professional employment opportunities in psychology.

BPS accreditation is an independent mark of quality defined and delivered in partnership with psychologists, demonstrating that the quality standards in education and training are continually met.

Graduates of the online MSc in Psychology programme will be eligible for Graduate Basis for Chartered Membership (GBC) of the BPS. The Roehampton Online MSc in Psychology allows students to grow on a professional and personal level

while developing psychological literacy that helps provide a new understanding of how to relate to their environments. Students benefit from a thematic learning framework and programme structure that enables different psychological disciplines to be applied to real-world contexts.

They can also discover how to apply a range of research methodologies, and develop a strong understanding of how to put psychological research into practice.

Prospective students are advised to visit https:// online.roehampton.ac.u k/ programmes/msc-in-psychology for more information on the MSc in Psychology programme.

The University of Roehamp-

ton has a history that dates back 175 years. Today, working professionals from more than 150 countries have chosen to study online and earn a quality education assured by the UK government’s Quality Assurance Agency. Roehampton Online believes that learning is a lifechanging and lifelong journey that provides access to a brighter future, and offers a range of online masters programmes that have been designed to enrich students’ knowledge and help them develop practical skills that can be applied immediately and promote career advancement. These programmes are provided in partnership with online learning expert, Laureate Online Education.

2,000 Schools Participate in Ekiti Spelling Bee Contest Victor Ogunje, Ado Ekiti About 2,000 public and private schools in Ekiti State are currently participating in the 2016 edition of the State Annual Spelling Bee, which the organizers (the state government in collaboration with private investors) said will cover primary and secondary schools.

Speaking at the launch of the competition at the Christ’s Girls School, Ado Ekiti, the Deputy Governor, Dr. Kolapo Olusola, said the Ayo Fayose-led government would leave no stone unturned in moving education to enviable height

at primary and secondary levels in the state.

Pointing out that education at these levels form the bedrock for the future of any youth, Olusola said the government is ready to exploit every opportunity that will make it retain the first position the state recorded in the 2016 National Examinations Council (NECO) and also maintain the same feat in the West African Examinations Council (WAEC) in 2017.

He said the programme would hold simultaneously in seven centres- Ado Ekiti, Ikole, Ikere, Ijero, Ido, Omuo and Igede Ekiti- to ensure prox-

imity for all the participating schools and to prevent putting schools in remote areas at the disadvantage.

“The state government will give cash award as well as donate laptop computers to schools, teachers and students of schools that come first, second and third in the competition.

“Education at the primary and secondary schools determine what the future of any youth will be.

This competition will help in preparing our students, who are our tomorrow ahead of this world of competition and will help in keeping them in the right perspective on how to

embark on critical thinking to rise to any academic challenge.”

The Commissioner for Education, Mr. Jide Eegunjobi, explained that the government will give award in three categories such as primary, junior secondary and senior categories at the end of the competition.

Eegunjobi, who was represented by the Permanent Secretary, Ministry of Education, Mrs. Adekunbi Obaisi, added that the grand finale will hold in May next year in Ado Ekiti.

He urged the panel handling the competition not to bend the rule or favour any school, as it might stall the dream behind the competition.

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T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

EDUCATION

Lagos Unveils ‘Code Lagos’ to Train Students on Programming

Peace Obi

As part of efforts to make Lagos State the technology frontier in Africa and to position students in the state for local and global opportunities arising from the world’s increasing reliance on technology, the state government has unveiled ‘Code Lagos’, a computer programming initiatives where it targets to provide programming skills for 1,000,000 students.

Speaking at the unveiling of the computer-based educational skills, the Governor Akinwunmi Ambode, who was represented by the Deputy Governor, Dr. Oluranti Adebule said ‘Code Lagos’ is the state government’s response to the increasing demand for technical skills and that the initiative is aimed at developing a workforce that speaks a universal digital language and are ready to take on and provide solutions to the myriad of socio-economic problems confronting the society.

“Lagos State is today unveiling ‘Code Lagos, a programme aimed at teaching computer programming to students in the state. This initiative will make coding curriculum accessible to one million students in Lagos by 2019, thereby preparing them to create and take advantage of the opportunities that will arise as the state’s technological capacity increases.”

Ambode added that the initiative is one of the state government’s efforts

towards the actualisation of the Lagos Smart City project anchored on the vision to make the state the technology frontier in Africa. He said the project is the first of its kind in Nigerian and Africa.

“The 21st century world is becoming increasingly reliant on technology. Consequently, around the world, forward-looking governments and policy makers, social impact organisations, and profit-driven institutions alike are taking a proactive stance by investing in technology education for the future workforce.

“Today, Lagos State joins the league of technology-compliant nations that have recognised the need to harness the power of technology for the success of their nations and nation-states.”

Describing coding as the 21st century powers of the digital world, the governor said the programming skills will enable participants to emerge as team players who would cooperate and work together across physical and geographical boundaries.

“Coders are therefore architects and builders of the digital age who help us to understand a hyper-connected world and practice the skills of problem solving, team work and analytical thinking. Whether you create a web or a smartphone application, follow GPS directions when driving, use a calculator or wish to revolutionise social interactions, you

will need code.”

He said the Code Lagos in the longterm is envisaged to bridge the skills gap with respect to employment and business opportunities in the technology space, thereby enhancing global competitiveness of Lagosians.

“Embrace this initiative, which will prepare our citizenry to meet new workforce demands, harness the benefits of technology, and communicate in the language of the future.”

In his remarks, the Special Assistant to the Governor on Education, Mr. Obafela Bank-Olemoh said with a 65 per cent youthful population in the state, ‘Code Lagos’ is a deliberate, strategic workforce concept targeted at ensuring that Lagos remains competitive.

According to him, with the digitalisation of every facet of work and life, investment in technology education is not only important, but an imperative.

And to drive the initiative down to the targeted group, he said the state will be contracting 1,200 facilitators to be deployed across primary, secondary schools, libraries, higher institutions, as well as the IT space and that the contractors would be to trained.

“Come January 2017, the deputy governor will launch officially the coding curriculum for Lagos state, which will be used across the state.”

ALL FOR IT EDUCATION

Students of Kuramo Senior Secondary School, Victoria Island, Lagos at the launch of ‘Code Lagos’… recently

It’s All inYour Hands All through November, the whole world turns a significant measure of attention on diabetes. In particular, November 14 isWorld Diabetes Day. Diabetes is a condition where an individual’s blood sugar is elevated due to an absolute or relative deficiency of insulin.

The most common types of diabetes are known as Type 1 and Type 2 Diabetes. Type 1 diabetes, which is also known as insulin dependent diabetes differs from type 2 diabetes in that the body does not produce insulin altogether. Type 2 diabetes is normally diagnosed in older adults and occurs as the body stops producing enough insulin or the individual becomes resistant to their own body’s insulin.

No matter what form of diabetes it is, with this condition, the individual loses their ability to adequately utilise sugar. Their blood sugar levels increase due to the body’s difficulty in transporting sugar into the cells and out of the blood stream. Consequently, their blood has too much sugar in it! There are however several ways to lower blood sugar levels. These include diet, exercise and medication.

Exercise is a very important part of diabetes management in both type 1 and type 2 diabetes. People that have type 1 diabetes would find that regular exercise helps them to maintain insulin sensitivity, to prevent the accumulation of excess weight, and to increase the use of glucose in their muscles. Although there is really no way to prevent type 1 diabetes, it is possible to prevent type 2 diabetes.

To prevent the onset of type 2 diabetes, regular exercise, balanced diets with sufficient vegetables, fibre, minerals and fruits may be helpful. Lifestyle changes such as cutting down on alcohol intake, stopping smoking are also very helpful. Not only would exercise help directly with diabetes management by lowering blood sugar levels and maintaining insulin sensitivity, it would also help minimise several of the complications that can occur to a diabetic individual.

Research has shown that walking 30 minutes each day can diminish the possibility of developing type 2 diabetes.

Almost all diabetics tend to develop circulatory problems and exercise can help lower blood pressure and improve circulation throughout the body. People with diabetes tend to have poor blood flow at their lower limbs and feet therefore better circulation would be of great benefit. Even though there are risks associated with exercise for diabetics, its potential benefits outweigh the risks involved.

Exercise indeed lowers blood sugar levels, therefore people with diabetes should measure their blood sugar both before and after they exercise. Since your body uses more sugar while you exercise and makes you more sensitive to insulin, there is a risk of your blood sugar becoming too low and consequently causing you hypoglycemia.

Whenever you exercise, it is important to let others know that you have diabetes. They should also be informed about what they should do in case you experience hypoglycemia. During and after you have exercised, you should pay very close attention to how you feel, since rapid heartbeat, increased sweating, shakiness or hunger can signal that your blood sugar levels are getting too low. It would then be wise for you to stop and redress the situation.

Furthermore, in diabetes management and treatment, exercise helps with blood sugar control and the muscles use more glucose.

Exercise would also help to prevent and minimise common diabetic complications which include heart problems, high blood pressure, and circulatory deficiencies.

If you have diabetes, it is important that exercise should be part of your daily routine. You should always exercise at a slow pace and never overdo it. Also, you should be sure to exercise around people you know or at a gym, so there would always be people around you in case something goes wrong. Having diabetes should not hinder your life or your performances. Exercise can help you stay on track or to get your life back on track.

Omoru writes from the UK

CIAPS Launches ‘Study Now Pay Later’ Scheme for Graduate Professional Programmes Funmi Ogundare A Lagos-based international graduate school, Centre for International Advanced and Professional Studies (CIAPS) has launched a scheme tagged ‘Study Now Pay Later’, designed to help graduates in need of skills to boost their professional careers.

It is part of the centre’s plan to assist graduates secure jobs in their chosen career.

The Director of the centre, Prof Anthony Kila, who briefed journalists about the scheme recently, said it would assist more graduates to participate in its Outcome Based Educational (OBE) programmes built on

research and the inputs from dynamic organisational needs, as well as their employment and development strategies.

“The programme will address the employability of many graduates and young people.

Rather than focusing on just theory and academic curriculum, CIAPS is working with businesses, several organisations and employers to establish the kind of graduates they need, and what skills/knowledge these graduates should possess. This way, graduates will be training for a real job and career rather than just for a certificate.”

Kila said though meaningful postgraduate and professional education is expensive, find-

ings have revealed that many potentially capable and brilliant graduates are being excluded from opportunities of getting required professional skills because of their inability to pay for professional studies.

He described the scheme as first of its kind in Africa, saying that interested graduates will get the opportunity of paying only a part of the tuition fees before starting a programme and then pay the rest when they start working.

“They will pay a certain percentage of their salary to be able to pay back; we also hope they will be able to set up their own businesses.”

He said the scheme for fast-

track professional programme for graduates will start on November 29 and will last for about three months with focus on Media and Journalism, Business Administration, Production and Operations Management, Business Development, Project Management, Event Management, Banking and Finance, Graduate Diploma for Senior PAs Executive Assistants and Education.

“Applicants for these courses are required to have a first degree or equivalent, having a good grade is a major advantage. Applicants without such qualifications may apply, but their applications will be subject to a more complex

process and they will be required to demonstrate their ability to successfully follow the programme. In all cases, applicants will be tested by CIAPS through written assessments and verbal interview.”

In another development, eminent Nigerians and other guests converged on the centre to honour a doyen of publishing in Nigeria and Chairman of Safari Books, Chief Joop Berkhout. The programme was also attended by his close friends and associates to mark his golden jubilee of publishing and literary creations.

In his remarks, Kila said his encounter with Berkhout is part of a series of event themed,

‘The Creatives’ it initiated to contribute to building the society that appreciates and celebrates its most creative minds.

The former Secretary-General of the Commonwealth, Chief Emeka Anyaoku, said the country owes it to Berkhout to recognise his contribution to the intellectual development of the nation. He appealed to stakeholders to encourage reading and writing.

The wife of late Chief Emeka Ojukwu, Mrs. Bianca Ojukwu observed that Berkhout was more Nigerian than most Nigerians and that her late husband described him as one of the few who are detribalised.

34

T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

EDUCATION

Inadequate Funding Stalls Accreditation of CoE, Says NCCE

Kuni Tyessi in Abuja

The National Commission for Colleges of Education (NCCE) has recorded a shortfall in its 2016 budget as only N66,357,446, which is 33.55 per cent has been released for capital expenditure, out of the N197,774,475 appropriated, thereby causing a setback in the accreditation of more colleges of education.

Invariably, N475,064,950 and N82,403,954 which is

84.5 per cent and 62.3 per cent respectively were released for personnel and overhead, which recorded a grand total of N623,826,350.60 , which is 60.2 per cent, the total percentage released in 2016.

This was revealed by the Executive Secretary, Prof Bappa-Aliyu Muhammadu when the Senate Committee on Tertiary Institutions and the Tertiary Education Trust Fund (TETFund) visited the commission for oversight

function.

Muhammadu stated that the commission, due to the shortfall in the 2016 budget had presented its actual figure which was forwarded to the budget office of the federation prior to the passage of the budget which was not reflected, had taken it upon itself to declare the non- accreditation of NCE awarding institutions for more than five years and had proceeded to initiate the conduct of accreditation exercises in the

152 NCE awarding institutions and the 180 NTI study centres nationwide in 2016.

He said the shortfall in the budget has been responsible for the numerous industrial actions, as well as other crises in several colleges of education under the commission’s purview, hence the need to improve on the budget.

“The approved appropriation did not reflect in the adjustment for the shortfall. The actual personnel cost of the commis-

sion is N601,132,396, which was the same amount released to the commission in 2014 and 2015 financial year. In 2016, N562,104,690 was appropriated to the commission hence there is a shortfall of N39,027,076 in the personnel cost.

“The total overhead cost released to date is for January to June 2016. The commission awaits the release of the balance for July to December 2016. The capital released represents 34 per cent of the total appropria-

tion for 2016.”

“Due to funding challenges of the commission, some colleges of education took it upon themselves to financially support the conduct of the accreditation exercise in their institutions.”

Responding, the Chairman of the senate committee, Mr. Barau Jibrin, regretted the ugly trend and promised that all the complaints and inadequacies will be raised at the floor of the senate for deliberation and improvement.

Western Union, Others Donate Modern Library to Lagos School A modern library stocked with various books and computers was recently donated to Ransome Kuti Memorial Senior Grammar School, Mushin, Lagos to boost reading among students.

The Western Union, in collaboration with Ecobank and Joseph and Eunice Oladaiye Foundation (JEOF) donated the facility as part of this year’s ‘Read to Succeed’ library project for schools.

Speaking at the inauguration of the library, the Chairman, Board of Trustees of JEOF, Chief Ademola Oladaiye, said school libraries play a special role in providing enrichment to students from economically disadvantaged backgrounds that need additional help to develop the skills to succeed.

He explained that part of the foundation’s mission is to bridge the educational gap in schools in the country by working with schools, students and the youths to proffer workable solutions to noticeable challenges.

Oladaiye advised students to imbibe the habit of reading at an early stage to excel in their studies, adding that students should not restrict themselves to only curriculum textbooks, but also various literature books, novels, newspapers, among others, to improve their vocabulary, self-confidence, critical reasoning and understanding skills.

Oladaiye, who made a first class in Mathematics from the University of Nigeria, Nsukka (UNN), attributed his success to good use of the library and urged students of the benefitting school to read in order to succeed in life.

The Programme Director, JEOF, Clare Henshaw, said the foundation visited several schools located in the socially and economically disadvantaged parts of Lagos to conduct a needs assessment. Based on the assessment, the school emerged as the beneficiary of the library project. She also expressed satisfaction with the innovative approach to learning in the school management and commended the Principal, Mrs. Christiana Dosumu for setting an enviable standard.

Henshaw said 1,299 hard cover books and 100 e-books were donated to the library,

including fiction and nonfiction books of renowned authors, motivational books, recommended textbooks, comic books, novels, literature books, among others. She expressed hope that the good use of the library by the students would help them improve their communication skills, as well as their level of comprehension.

The Regional Vice-President, Western Union for Africa, Aida Diarra, said the Western Union Foundation and Ecobank Nigeria Limited partnered to finance the initiative as part of the ‘Read to Succeed’ programme. She said $20,000 was spent on the library project, which includes the provision of new tables, chairs, books, book shelves, ceiling fans, air conditioners, computers, printers and other supplies.

She said the new library would benefit more than 1,000 students at the school, adding that Western Union will award $5,000 scholarships to three qualified, underprivileged university students.

Diarra explained that the Western Union Foundation has over the past 20 years, worked with Diamond Bank, Guaranty Trust Bank, UBA, Ecobank Nigeria, Skye Bank, First Bank of Nigeria and Access Bank to refurbish and equip public school libraries through a grant of more than $280,000 for the ‘Read to Succeed’ library project in Lagos.

“Separately, Western Union also awarded $30,000 in scholarship to underprivileged university students between 2012 and 2014. These actions align with the values upheld by Western Union and the Western Union Foundation and offer a unique opportunity to apply their commitment to education in Africa.”

A representative of Ecobank, the Head, Remittance and Mobile Money Transfer, Esther Obot, said the bank maintains a positive association with organisations and reputable bodies that promote education in the country.

“The combined effort of Ecobank and the Western Union Foundation aligned with this vision of promoting reading in schools. That is why we partnered the foundation on this ‘Read to Succeed’ project since 2012 till date.”

REVIVING READING CULTURE

L-R: Board ofTrustees members, Joseph and Eunice Oladaiye Foundation, Mr. and Mrs. Ademola Oladaiye; the Head, Remittance and Mobile Money, Ecobank, Mrs. Esther Obot; the Deputy Marketing Manager, Western Union (ECOWAS), Ebere Nwaolikpe; and a staff of Ecobank, Ms. Chimezie Obiakor, with students of Ransome Kuti Memorial Senior Grammar School, Lagos during the donation of a library to the school… recently

ESUT Staff Trained on Use Lafarge National Literacy of Endoscopy Machine for Contest to Produce Winners Medical Education The third Lafarge Africa participants and their schools national literacy competition, as a clear demonstration of

Two German-based experts, Dr. Alanna Ebigbo and Michael Schlander have trained staff of the Enugu State University of Science and Technology (ESUT) Parklane Hospital on the proper use of the endoscopy machine in the training of medical students and in the diagnosis of patients.

Declaring the five-day training open, the Provost of ESUT College of Medicine, Prof. Anthony Ugochukwu, re-affirmed the commitment of the hospital to collaborate with the German medical team to advance learning and fully develop the endoscopy unit at the college.

Ugochukwu, who expressed delight about the training, said the college of medicine would come up with a programme to make the training a regular feature, adding that the visit of Ebigbo and his partner from Germany would boost medical education, especially in the area of endoscopy.

“Since we acquired the endoscopy machine with the support of the Tertiary Education Trust Fund (TETFund), I have been thinking of sending some staff to China, India, USA to study the use and management of the machine, so your visit is indeed a great relief to us because the machine

will be very useful for both students and consultants, as well as patients, we wish you will come again and even bring more machines for us.

“With your assistance, we hope to go from stage one to stage three; let us explore possibilities of getting support from Germany, in fact, I am thrilled with your presence, and please we would need more equipment to solidify the endoscopy unit.”

Responding, Ebigbo said they came to see how to establish an endoscopy unit at the hospital to boost healthcare in the area, adding that he would train hospital personnel on the use of the machine and carry out various diagnoses on patients.

He expressed delight that some of the staff, Dr. Levi Ayogu and Dr. Chukwudi Iloh have already mastered the use of the machine and promised to come again anytime he is needed.

The medical expert said he was motivated to embark on the training because he always said no, each time he was asked if endoscopy machines were in use in Nigeria. Before moving to Germany to study medicine, Ebigbo attended the Federal Government College, Enugu.

organised in partnership with the Ovie Brume Foundation, is set to produce winners following the successful completion of the regional competitions in the six geopolitical zones of the country.

A total of 12 pupils from Edo, Enugu, Gombe, Kaduna, Lagos and Plateau States will on November 17, strive to outdo one another to emerge as winners at the grand finale, which will hold in Lagos.

The Group Managing Director, Lafarge Africa Plc, Mr. Michel Puchercos, said the competition engages pupils from public primary schools across the country in activities that measure and enhance their ability to read, write and spell correctly, adding that it will feature literacy tests, essay/summary writing and spelling bees to evaluate their reading and writing abilities.

“The regional competitions for 2016 have progressed quite well with each participating geopolitical zone telling a unique story. With active involvement of the State Universal Basic Education Boards (SUBEB), the competition has been keenly contested among the selected schools in the six geo-political zones with emergence of winners from each zone.”

On the success of the competition so far, he described the visible excitement of the

motivation to succeed, while expressing the desire to see continued brilliance from the pupils at the final stage.

He said his organisation continues to provide support and interventions in education as part of its focus areas of social investments to demonstrate commitment to building a stronger Nigeria.

“Lafarge Africa’s focus on the development and promotion of literacy skills among Nigerian children, especially those in the public schools is based on the recognition that literacy is tied to all human undertakings. When our children have the right literacy skills, they develop a strong sense of individual wellbeing and citizenship, which stimulates the foundation to be future contributors to economic development.”

The Chairperson of Ovie Brume Foundation, Ms. Evelyn Oputu, expressed delight about the positive impact so far recorded through implementation of the national initiative while applauding the partnership that has ensured its smooth progress.

“The last three years has brought out the best in the children in terms of confidence building, competitive spirit, greater knowledge and cognitive skills, including the ability to handle pressure.”

T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

35

EDUCATION

Algorithm Makes Sense Out of Nonsense (III) Text of the inaugural lecture delivered by Professor Sunday Eric Adewumi, Head, Department of Computer Science and Director, ICT, Federal University Lokoja Kogi State to make sense out it.

Several algorithms are in use today to disguise messages and to make them look nonsensical.

In transposition cipher algorithm, for example, the plaintext is divided into blocks and each in turn is enciphered independently.

The general approach in transposition cipher is that a ciphertext is keyed by a word or phrase not containing any repeated letters. For example the word SUNDAY, BAUCHI and ZANGO are good keys because they contain no repeated letters. While words like BORNO with two Os, ZARIA with two As and LOKOJA which has two Os are not good keys in a transposition cipher.

Cryptographers are always mindful of cryptanalysts’ plan to break ciphers. They do so by identifying familiar patterns. Transposition ciphers are essentially made of text that are merely transposed. Cryptanalysts usually take advantage of this knowledge to identify repeated characters. For example, they know that the English alphabet letter E has the highest probability of being used in any English text, followed by T and then A, O and so on and that the letter Z has the lowest probability of being used in any text document. Cryptanalysts use this knowledge to break transposition ciphers perceived to be secure. Cryptographers must then guard against building systems that intruders can easily make sense out of.

2.4.1 Cryptosystem Algorithms A cryptosystem algorithm helps to create nonsense and the means to make sense out of them. This method can be categorized into two: Private Key Algorithm Public Key Algorithm 2.4.1.1 Private Key Algorithm A private key algorithm is an encryption algorithm in which the means to create nonsense (disguise the message) and the means to recover the message (make sense out of the nonsense) uses one key for both encryption and decryption. One of the challenges of this system is the problem of key management. The encryption and the decryption key must be shared between the sender and the receiver. This method of using one key for encryption and decryption makes it a symmetric key algorithm. This kind of arrangement makes the whole system messy as keys can easily get to wrong hands in the process of exchanging a key between a sender and a receiver. It may even be worst when communicating with very large audience in which the same key must be sent to all receivers.

The challenge thrown up by the private key algorithm has been adequately solved by the public key cryptosystem, in which the encryption and decryption keys are separate. An example of a private key cryptosystem is the Caesar cipher in which encryption is achieved by means of permutation of letters. An example is to use key 2 to encrypt the word LECTURE which becomes NGEVWTG. Since key 2 has been used to create the nonsense, the same can be used to make sense out of it. When this message gets to the receiver, he or she can recover the word LECTURE by taking two steps backward from the position where letter N is on the alphabetic arranged letters, this will lead to letter L, similarly G becomes E and so on until the word LECTURE is recovered from the word NGEVWTG. Adewumi and Garba (2003a) devised an encryption algorithm using systems of non-linear equations as a way of encrypting and securing a message. The algorithm converts a message to systems of non-linear equation.

For example, their algorithm can be used to create nonsense by encrypting the message, TRANSFER ONE MILLION NAIRA as follows: T R A N x1(x1+19)+ x1(x2+16)+x1(x3-2)+ x1(x4+10) S F E R +x1(x1+18)+x1(x2+4)+x1(x3+2)+ x1(x2+16) O N E x1(x1+14)+ x1(x4+10)+x1(x3+2)

M I L L I x1(x1+12)+ x1(x2+7)+x1(x3+9)+x1(x3+9)+x 1(x2+7) O N x1(x1+14)+x1(x4+10) N A x1(x4+10)+ x1(x2+16)+x1(x3-2)

I

N A x1(x3-2)+x1(x2+7)+

The statement Transfer One Million Naira will be sent as a system of non-linear equation as follows: 2x21+3x1x2+2x1x3+x1x4 – 18 = 0 x21+x1x2+x1x4 – 8 = 0 2x21+2x1x2+2x1x3+x1x4 – 16 = 0 2x1x2+2x1x3+x1x4 – 14 = 0 When this nonsense reaches its destination as a system of non-linear equation, the receiver solves the equation by linearizing it by means of Jacobian matrix as J(x)(x_(n+1)-x_n )=-f(x_n) …

(4) Equation (4) can be solved to recover the message using Gaussian elimination algorithm.

Adewumi and Garba (2004a) also explored the use of linear equation and the use of eigenvalue to encrypt and decrypt messages.

Adewumi and Garba (2003b) proposed a system for securing transborder messages that are based on system of equation.

Adewumi and Garba (2004b) also proposed another algorithm for encrypting messages using matrix inversion technique. This scheme converts a message to be sent to systems of linear equation with a second level of security which involves inverting the matrix of the equation so formed before sending it. The message ATTACK NOW for example, can be encrypted as a 2 x 2 system of equations and then use matrix inversion to disguise the message thus: A T T A C K (x1+0)+ (x2+18) +(x2+18) +(x1+0) + (x1+2) +(x2+9) N O W (x1+13) + (x2+13) +(x1+22) After various manipulations, the above is transformed into the form Ax=b as: 3x1 +3x2 = 9 2x1 +x2 = 4 … (5) To invert the matrix in equation 10, we put it in matrix form in (6) The matrix A = ((3&3@2&1)) … (6) We then find the A-1 by manipulating the augmented matrix ( (1&0 | 3 3@0&1 | 2 1)) if we carry out row operations on this matrix, we obtain the A-1 = ( ((-1)⁄(3 ) 1@2⁄3 - 1)) Equation (5) can then be sent as -1/3x1 +x2 = 9 2/3x1 + - x2 = 4 … (7) 2.4.2.2 Public Key Algorithm In a public key algorithm, the encryption

key and the decryption keys are separate. One of the keys is private (secret key) while the other key is public (freely available to anyone who cares to know). This makes the public key asymmetric. In this method, the public key is used to create the nonsense while the private key is used to make sense out of the nonsense.

A good example of a public key is an email. To send an email, you need two keys, one private (the password) and the other public, the username.

For example, my university mail has two keys; the public key is sunday.adewumi@fulokoja.edu. ng while the private key (the password) may be something like ful123 known only to me.

2.4.3 Secret Sharing Algorithm A secret sharing scheme is a method of creating nonsense by sharing a key S into pieces among a set of p participants.

Adewumi and Garba (2008) proposed a (p,p) secret sharing scheme in which a key S is shared into pieces (called shadows) among a set of p participants called the shareholders such that any p shareholders forming a quorum can reconstruct the value of S but no group of less than p participants can do so. In achieving this, a person known as the dealer D p chooses key S, the dealer gives some partial information called shares to each participant and they are secretly kept. When the need arises to reconstruct the key S, some participants ≤p will pull together their shares to reconstruct S. For example, assuming the desire of the judges in a 9-man election tribunal is to protect their judgment from public knowledge before judgment is delivered; they decide to lock up their judgment in a cabinet. While padlocking it, they agree that any 5 judges can open the cabinet to retrieve the document, but not less than 5 can do so. This agreement will lead to combinational nonsense that will require that the judges buy 126 padlocks to secure the cabinet as 9c5 is 126. This is prohibitive and impracticable in real life. However, a secret sharing algorithm will achieve this without having to purchase 126 padlocks. With algorithm, a secret shared can be kept. It is like eating your cake and still having it.

A (p,p) secret sharing algorithm as proposed

by Adewumi and Garba (2008) is stated below: D secretly chooses (independently at random) p-1 elements of Z_(m,) y_1,…,y_(p-1), using a chosen polynomial D computes y_p=S-[∑_(i=1)^(p-1) y_i ]mod m …

(8) For 1≤i≤w, D gives the shares yi to pi To reconstruct S when the need arises, equation (8) is reformulated to a polynomial equation (9) in Adewumi and Garba (2008).

S=[∑_(i=1)^(p-1) y_i ] mod m (9)

…

Choosing a1 and a2 to be 7 and 8 respectively with p as 41 resulting in: f(x)=7x^2+8x+40(mod41) …

(10)

This equation (10) is then used by the Dealer to deal out the shares to participants called the shareholders in order to create nonsense and

Algorithm for reducing space occupied by data Data Compression has important application in the areas of data transmission and storage.

Many data processing applications require the storage of large volume of data and the numbers of such applications are on the increase even as the use of computers extends to new disciplines. Data compression reduces storage and communication costs. When a file on a computer is reduced to say half its size, the effect is the same as doubling the space it originally occupied. Data compression ensures the removal of redundant data, reduction of transmission time which increases the judicious use of limited storage resources. Compression and decompression are about expansion and contraction (Beekman, 1999).

One primary objective of a data compression scheme is to achieve better compression ratio represented as (compressed size)/( uncompressed size). The smaller the ratio, the better the compression scheme and the better the space saved.

Several compression methods have been devised. The popular LZW (Lempel-Ziv-Welch) compression algorithm is a scheme that compresses by replacing strings of characters with a single code (Mark, 1989). The Hoffman coding takes a block of input characters of fixed length.

It generates codes with the aid of a binary tree algorithm (Nam, 2001a).

The internet is estimated to contain about 4.73 billion pages according to http://www. worldwidewebsize.com/ and it has continued to grow in leaps and bounds. Many social media tools and platforms are now available for use, with their attendant voluminous data being generated according to https://www.sciencedaily.com/ releases/2013/05/130522085217.htm. According to the source, “90% of all the data in the world has been generated over the last two years”.

This data will continue to grow. The world will need efficient data compression algorithms to manage this voluminous data being spooned daily from WhatsApp, Facebook, Instagram, etc.

We realize that the world needs compression algorithms that will move compression ratio of large text documents towards zero.

It is with this objective in mind that Adewumi and Garba (2005) developed a compression scheme that uses the product and sum to achieve compression and decompression. This scheme, which is represented in Table 3.1 is used to create nonsense which assumed that documents are made of letters of the alphabet, punctuation marks and special characters such that the characters that make up the documents can be represented as l1, l2, …, ln. Table 3.1 is used for the analysis.

P= S= U= Table 3.1: The Product and Sum Compression Scheme In this algorithm, high compression is achieved with documents with large string of characters.

However, decompression could not be easily achieved because there would always be need to factorize very large numbers.

In our resolve to overcome this challenge of factoring large numbers and in order to make sense out of nonsense, Adewumi and Garba (2006) devised a factorization algorithm for factoring large numbers. In this algorithm, it was proposed that the prime and composite factor of an n-digit number N which should fall between 1 and √N are found by partitioning the numbers to be factored into sub-instances (blocks), such as N1, N2, …, Nk. These sub-instances are further subdivided to ease factorization.

However, it was observed that even though compression was achieved with the product and sum method, the amount of bit strings involved, which required factorization, were not resolved. ...TO BE CONTINUED

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CITYSTRINGS

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

Reorientation for Delta Police

The Delta State Commissioner of Police, Mr. Zanna Ibrahim, has expressed his determination to lead the state police command on an anti-corruption crusade intended to radically change not just the poor perception of the average policeman, but also in the way the police and public interact, writes Omon-Julius Onabu

A cross-section of the newly inaugurated Operation Eagle Net during the lauchning of the unit at Asaba...recently

B

y his own admission, the police in Nigeria is stamped with unsavoury reputation due to the institution's association with sundry vices including bribery, extortion, abuse of power or lawlessness. However, his public declaration, during the week in Asaba, of his determination to turn the tables around by midwifing an attitudinal change in officers and men under his command would aptly put the Delta State Commissioner of Police, Mr. Zanna Mohammed Ibrahim, on the spot or otherwise make him the cynosure of most Nigerians. The commissioner last Tuesday led officers from various commands and divisions across the state to tee off the state police anti-corruption campaign. He stressed that he expected nothing short of deliberate "attitudinal change from all policemen in

the command."

Unveiling the campaign instruments CP Ibrahim, who was joined by high-

By this launching we are starting the Delta State chapter of the new anticorruption crusade. We are saying no to bribe; we are saying no to impunity; we are saying no to extortion; we are saying no to corruption in all its ramifications

ranking officers drawn from the different commands and divisions across the state, however warned that government officials and private citizens as well as policemen would be involved in the crusade to discourage corruption in the society. Handbills and posters with various messages on the campaign were unveiled and subsequently displayed by the commissioner and senior officers including respective divisional police officers (DPOs), before a horde of newsmen at the Police Officers’ Mess at Okwe, Asaba, venue of the launching ceremony. And, as the cameras flashed and clicked away, the commissioner reminded the jam-packed hall that the various inscriptions on the colourful posters and handbills were meant to find practical expressions in the manner policemen and other citizens conducted themselves both in their public as well as private lives.

"By this launching we are starting the Delta State chapter of the new anti-corruption crusade," Ibrahim declared. "We are saying no to bribe; we are saying no to impunity; we are saying no to extortion; we are saying no to corruption in all its ramifications! So, we are going to display the various flyers and handbills, and the campaign will be taken to the divisional level. All hands must be on deck to make the campaign a successful one."

Watching the watchdog THISDAY asked CP Ibrahim how the authorities would guaranty that those charged with playing the arrowhead role in the anticorruption war do not take undue advantage or misapply the rules? As a safeguard, the Delta State Police Commissioner disclosed that the state police 'X-Squad' has been reorganised to discourage corruption such

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CITYSTRINGS

as bribery, extortion and other practices that tarnish the image of the police force and policemen in Nigeria. "Credible persons have been carefully selected and deployed to serve in the X-Squad," he revealed. He further disclosed that an under-cover unit comprising mainly plain-cloth policemen has also been constituted to monitor the activities of the X-Squad, simply to keep members of the special anti-graft unit on their toes and from compromising their privileged position.

An all-embracing war Nonetheless, Ibrahim warned that no citizen in the state would be left out in the drive towards the "Change Begins With Me" mantra of the Federal Government, or would anyone be free from the anti-corruption dragnet. He added that political appointees, civil servants and even journalists must watch their backs as the exercise would be non-discriminatory.

While admitting that he was actually replicating what the Inspector-General of Police, Ibrahim Idris, had done at the national level in Abuja recently, Ibrahim said that his command was "launching its crusade against corruption and ‘change begins with me campaign' ", against the backdrop of the command's "unalloyed commitment towards an improved service delivery to Deltans.

"Let me say here that the war against corruption as envisaged and directed by the IGP is not targeted at policemen alone; but will be extended to other government agencies and their staff. Therefore, all civil servants are advised to eschew all forms of corrupt practices in their official engagements as there will be no sacred cow in this war."

'Operation Eagle Net' launch Ibrahim said, "As part of our untiring strategies to ensure that criminals, especially of heinous crimes, are wiped out from the state so that Deltans can live in an atmosphere of peace and safety, the Command is today rolling out the Eagle-Net which will complement the efforts of other existing operational outfits."

He warned all criminals to change their ways as the police command was intensifying efforts daily to make the state "very uncomfortable" for them, saying "henceforth, there is no more place to hide in Delta State for the eyes of the eagle can see from afar when in search of its prey."

Ibrahim commended Governor Okowa "who, on behalf of the state government recently donated 10 Toyota Hilux vans" to be used by the newly created unit. "It would be recalled that not too long ago the amiable Governor of Delta State, His Excellency Senator (Dr.) Ifeanyi Arthur Okowa donated to ten (10) Hilux vehicles to the command.

Today, we are handing over these vehicles to the O/C Eagle Net and it is hoped that the vehicles would be put to efficient use in line with our earlier pledge to the Governor and Deltans."

The state police boss noted that the tactical police unit would complement the activities of other units like "the Special Anti-Robbery Squad (SARS), the SAKCCS, DRAGON, and

As part of our untiring strategies to ensure that criminals, especially of heinous crimes, are wiped out from the state so that Deltans can live in an atmosphere of peace and safety, the Command is today rolling out the Eagle Net which will complement the efforts of other existing operational outfits

Some crime suspects being paraded before newsmen at the state police headquarters in Asaba

Delta State Commissioner of Police, Zanna M. Ibrahim (with mic) and some top-ranking officers in the state police command, launching the state Anti-Corruption Campaign at the Police Officers Mess, Asaba

Delta State Commissioner of Police, Mr. Zanna Ibrahim

Safer Highway Patrol etc in tackling the menace of hoodlums in all parts of the state."

The highlight of the new anti-crime squad was an energetic exhibition or display by members of the Operation Eagle Net squad led by its commander, Mr. Usman Dimka, an assistant superintendent of police (ASP) at the Mess and at the police headquarters on Okpanam Road. Adorned fully in their new combat kits and armed to the teeth, the youthful 'mobile policemen were aweinspiring as they drew the silent admiration of little groups of members of the public that

gathered to watch the "show". Their skins glistened with sweat beats as they sang, marched and danced as though oblivious of the scorching November sun bearing down Asaba mercilessly.

Bust kidnapping gang Incidentally, the day also saw the commissioner parading a number of criminal suspects before newsmen at the mess. They included persons arrested for alleged involvement in criminal activities including armed robbery and burglary, ransom kidnapping,

swindling or "419" and car snatching. The Police Commissioner also revealed that four armed robbery suspects had died during separate exchange of fire encounters with the police.

Aside the five kidnapping suspects and four armed robbery suspects, 10 were arrested in connection with violent cult activities while 13 others were picked up for alleged economic crimes or sabotage, piracy and cult-related murder. Highlights of the parade before newsmen of arrested suspects in connection with various crimes alongside the recovered items including about N1.8 million cash, several cars, arms and live ammunition.as well as an assortment of charms.

Among the suspects paraded during the press briefing at the state police headquarters in Asaba by the state Police Commissioner was 30-year-old Joshua Ufuoma Okoh, alias 'Onos', who confessed to being the leader of a kidnapping gang based in Udu, a neighboring town of Warri. The gang leader, who said that he was working as a generator repairer before he took to the "more lucrative" business of ransom kidnapping, said that he could not tell why he was always attracted to criminal activities. He admitted that nemesis might have caught up with him so that he might be reconciled to God at last whether he died or regained his freedom eventually.

THISDAY however learnt that nemesis actually caught up with the suspects, who the police described as "members of a notorious kidnapping gang" when the police got a tipoff of an impending plan to abduct a 77-year-old woman in Udu area, near Warri in the state, last week. This, according to police detectives, was after the gang had reportedly collected a three million naira ransom following the kidnap of a Benin-City (Edo State)-based woman in Edjeba area of Warri on October 30, 2016. One Anthony Oren, said to be the vigilante chairman of Arhakpo community in Udu was also arrested for allegedly "concealing criminals."

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The Nigerian Society of Engineers in collaboration with

FEDERATION OF AFRICAN ENGINEERING ORGANIZATIONS (FAEO), AND UNITED NATIONS EDUCATIONAL, SCIENTIFIC AND CULTURAL ORGANIZATION (UNESCO) On

Announces its:

NSE Annual General Meeting & UNESCO African Engineering Week Date: 21st - 25th November, 2016 Venue: Tropicana Conference Centre, Uyo, Akwa Ibom State.

THEME:

HIGHLIGHTS OF PROGRAMMES: Monday, 21st November, 2016 Pre-conference Press Briefing, College of Fellows’ Symposium & Nigerian Content Workshop Tuesday, 22nd November, 2016 Opening Ceremony and 1st Plenary Wednesday, 23rd November, 2016 Concurrent Technical Sessions Thursday, 24th November, 2016 AGM, Closing Ceremony and Dinner Friday, 25th November, 2016 Post-Conference Press Briefing & Communique

CONFERENCE REGISTRATION FEES:

HIS EXCELLENCY Governor of Akwa Ibom State Chief Host

-

N40,000.00

Spouses

-

N10,000.00

Graduates

-

N10,000.00

Students

-

N5,000.00

HIS EXCELLENCY

Engr. Otis Oliver Anyaeji, FNSE, FAEng Mr. Udom Emmanuel

Members

Muhammadu Buhari, GCFR, FNSE

President, Commander -In- Chief of the Armed Forces Federal Republic of Nigeria Special Guest of honour

President, Nigerian Society of Engineers

International Delegates

$300

Convener

ENQUIRIES: Engr. Olusola T. Obadimu, MNSE, FIoD Executive Secretary Tel: 08033261862

Engr. Giandomenico Massari, FNSE Chairman, Conference Planning Committee Tel: 08034070504 Email: uyo2016@nse.org.ng

T H I S D AY WEDNESDAY NOVEMBER 16, 2016

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WEDNESDAY NOVEMBER 16, 2016 T H I S D AY

THE SENATE

FEDERAL REPUBLIC OF NIGERIA

COMMITTEE ON MARINE TRANSPORT Invitation to Public Hearing and presentation of Memoranda on: (i) (ii)

National Inland Waterways Authority Act Amendment Bill 2016 Nigerian Ports Authority Act Amendment Bill 2016

As a follow-up to the referral made to the Committee on the two Bills listed above, the Committee invites Stakeholders to A Public Hearing scheduled below: Date:

Monday 21st November, 2016

Venue:

Conference Room 022 (GF) New Senate Building, NASS Complex

Time:

10.00a.m. prompt SPECIAL GUEST:

Senator Abubakar Bukola Saraki

President, Senate of the Federal Republic of Nigeria.

The Stakeholders Include: 1.

2.

3.

4.

5.

6.

7.

8.

9.

Major Oil Exploration Companies Office of the National Security Adviser Telecommunication Companies Developers of Greenfield Ports Shipping Companies Bureau of Public Enterprises Infrastructure Concessioning Regulatory Commission Marine Industrial Service Consultative Organisations Operators in the Inland Waterways

10.

11.

12.

13.

14.

15.

16.

17.

18.

Nigerian Customs Service SON, NAFDAC and other Agencies Operating at the Ports Nigerian Navy Jetty Operators Terminal Operators Existing NPA Tenants in all location sin Nigeria Petroleum Product Tank Farm Owners in Nigeria Dockworkers Union All other Relevant Stakeholders

Interested Persons can access copies of the Bills on the National Assembly website: www.nass.gov.ng or call the Committee Clerk on 0906-090-9334 for further enquiries. Memorandum can be submitted to the Committee at the Public Hearing Ceremony.

Signed:

Senator Ahmed Rufai Sani CON Chairman

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WEDNESDAY NOVEMBER 16, 2016 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

UN: Fund Scarcity Threatens Humanitarian Assistance in North East

Alex Enumah in Abuja

The United Nations has warned that the dwindling in-flow of funds from donor partners may hamper humanitarian intervention in the North East region of the country, a situation that is potential of leading to the death of millions of people in the area, particularly children.

The world body, while noting that the region is at

the verge of a humanitarian crisis of global proportion lamented that the funds so far received for the year 2016 is a far cry from budgeted expenditure. United Nations Humanitarian Coordinator for Nigeria, Peter Lundberg, who disclosed this to newsmen in Abuja, said if nothing urgently is done to help the government mitigate the situation, millions of people in the area may lose their lives within

Nigerians Rank Highest in Students Population in US

the next few months.

The envoy, who blamed the shortfall on what he described as a multitude of complexity facing the world said, out of the $485m budgeted for year 2016; only the sum of $180m had so far been received thereby creating a huge gap in tackling the situation.

He therefore used the occasion to call on all Nigerians particularly, the rich to contribute something no matter how small, in order to prevent the imminent disaster and also ameliorate the plight of the suffering masses in the region.

“We need to reach out to the private sector, Nigeria is a rich country and there are a lot of rich people that have the capacity to give and are also willing to do so”, he said, adding that,“We can only solve the problem if we all join hands together”. While stating that over 26m people may likely be affected in the event of the crisis, Lundberg disclosed that 14m people have been identified to be in urgent need of assistance to survive, adding that out of the 400,000 children said to be suffering severe famine and malnutrition 75,000 of

them may like die in few months from now if urgent intervention is not given.

According to him, most of these children are already experiencing changes in the colour of their hairs and skin and may likely die due to weak immune system. He disclosed that the agency apart from intervening in the area of food and health is also assisting in the area of water and sanitation, shelter, education, empowerment amongst others, adding that as part of measures to effectively reach the people the organization has concluded plans to

establish a humanitarian hub that would bring staff of the agency and other partners closer to the people.

On the alleged rape of women and girls in IDPs Camp, Lundberg while noting that it is a common occurrence in situation like this however, said there is need to sensitize communities on their rights and responsibilities. He also suggested a system of creating spaces to avoid unhealthy contacts as well as the provision of lights in most camps to prevent certain criminal acts that darkness encourages.

Zacheaus Somorin Nigerians studying in the United States during the 2015-16 academic year have ranked the highest, making Nigeria the leading source of African students and ranked 14th worldwide as a source of the 2016 Open Doors Report on International Educational Exchange which reveals there were 10,674 international students in the United States. This figure marks the highest number of Nigerians studying in the United States since 1986-87.

Students from Nigeria study primarily at the undergraduate level: 50.8% undergraduate; 35.6% graduate; 11.5 % Optional Practical Training; and 2% non-degree programs or short-term studies.

Interestingly, the top five institutions that have received the most Nigerian students are all located in the state ofTexas: Houston Community College, the University of Houston, the University of North Texas,Texas Southern University, and the University of Texas at Arlington.

Other African countries with over 1,000 students in the U.S. during this period include Ghana with 3,049, Kenya with 3,019, and South Africa with 1,813.

The Open Doors report is published annually by the Institute of International Education (IIE) in partnership with the U.S. Department of State’s Bureau of Educational and Cultural Affairs.

The Open Doors report also indicates that the number of international students at U.S. colleges and universities surpassed one million for the first time during the 2015-2016 academic year – an increase of seven percent from the previous year to a new high of nearly 1,044,000 students. This strong growth confirms that the United States remains the destination of choice in international higher education. In 2015-16, there were nearly 69,000 more international students in U.S. higher education compared to the previous year.

The United States hosts more of the world’s 4.5 million globally mobile college and university students than any other country in the world, more than double the number hosted by the United Kingdom, the second leading host country.

“The Open Doors findings show that international students value the quality, diversity, and strong reputation of U.S. institutions and recognize that these institutions will give them opportunities that can help them not only in their education but also in their careers,”said IIE President Allan Goodman.

Tax Breakfast Meeting Topic: Matters arising from interest/penalty waiver and other topical tax Issues The session promises to be informative and thought-provoking. It will also provide the opportunity to engage the FIRS in dialogue during an interactive session with the keynote speaker Mr. Babatunde Fowler, Executive Chairman, FIRS. Date Friday, 18th November 2016

Time 7:30am

Venue EKO Signature, EKO Hotels & Suites, VI, Lagos.

For further enquiries and confirmation of attendance, please contact: Hellen Onokpite T: 08039605016 E: honokpite@kpmg.com

Attendance is strictly by invitation.

Interact with us on social media:

@KPMG_NG

KPMG Nigeria

/KPMG Nigeria

www.kpmg.com/ng © 2016 KPMG Advisory Services, a partnership registered in Nigeria and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (‘’KPMG International’’), a Swiss entity. All rights reserved.

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BUSINESS/MONEYGUIDE

CBN: Heritage Bank Not Distressed Obinna Chima and James Emejo in Abuja The Central Bank of Nigeria (CBN) yesterday said Heritage Bank Plc is not currently in distress as being falsely insinuated by some online media.

The central bank noted that there had been “false and malicious stories on the social media insinuating that Heritage Bank is under financial distress and therefore unable to discharge its obligations to its depositors.”

But CBN acting Director, Corporate Communication, Mr. Isaac Okorafor explained in a statement that: “We wish to state that Heritage Bank is not in distress and as such its depositors should go about their transactions without fear. For the avoidance of doubt, we wish to further state that no Nigerian bank is in distress.

“The CBN, as the industry regulator, has a duty to depositors, in particular, and the economy, in general, to ensure the soundness of all financial institutions. We therefore wish to assure all depositors of the

safety of their deposits.”

The CBN added it will remain alive to its responsibility of ensuring banking system stability and soundness through constant monitoring and supervision of all licensed institutions.

“The Central Bank of Nigeria wishes to reiterate that the banking system remains resilient enough to weather the current economic storm,” he added.

The CBN had last month also allayed concerns over the soundness of Nigerian banks, and had assured members of the public that they are sound and have strong capital buffers.

The CBN had however, admitted that just like in other oil and commodity-dependent economies, banks in the country were also feeling the headwinds in the economy.

The Director, Banking Supervision, CBN, Mrs. Tokunbo Martins had stressed that to say “seven banks are undercapitalised is absolutely not true”.

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.

“Non-performing loans (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.”

MARKET INDICATORS

NAC Disburses N13bn toAutomotive Companies James Emejo in Abuja Director General, National Automotive Design and Development Council (NADDC), Mr. Aminu Jagal yesterday disclosed that a total sum of N13 billion had so far been approved and disbursed to 32 companies under the Auto Development Fund scheme.

He said a total of N7 billion had so far been repaid while there are fresh applications for N8 billion from 10 companies.

Speaking at an interactive session with journalists in Abuja, he said more loans would be approved and disbursed as beneficiaries honoured their repayment plans.

The Bank of Industry (BoI) had in collaboration with NADDC intervened in the automobile sector to help

develop the Small, Medium and Micro-Enterprises (SME’s) by supporting them in the area of production of automotive parts, components and services.

The fund was also meant to create an enabling environment to allow existing assembly plants to grow and attract other OEMs to the country as well as increase local content participation in vehicle assembly.

Jagal said the current economic recession had taken a toll on the auto industry with significant reduction in current market share to 250,000 vehicles from 400,000.

He said dropped was not usually unexpected at a period of a recession as people and organisation’s ability to purchase cars drop globally.

He said there was need to improve on valued added

services in the auto industry.

The DG also noted that as part of its role to promote auto engineering skills acquisition/ advancement, the council had commenced training programmes for mechanics after a survey it conducted revealed acute skills deficiency including lack of understanding of the electrical and electronics systems in modern cars among others.

However, the BoI intervention is expected to enhance the growth and development auto assembly sector, reducing prices of vehicles.

It further aims to impact the economy positively by reducing the number of imported vehicles into the country and discourage smuggling as well as would promote the development of SME’s in the production of component parts.

Poll: Nigeria’s Agricultural Sector Dominated by Subsistence Farming Obinna Chima The latest public opinion poll results released by NOIPolls Limited has revealed that more than nine in 10 Nigerians regard agriculture as one of the most viable means of driving the nation’s economy positively and pulling it out its current recession.

It is unarguable that Nigeria’s economy is tied to accruable revenue from oil but with the current free fall of crude oil prices, diversification is necessary for the revival of the country’s economy and agriculture has been tipped as one of the possibilities.

According to the survey findings, Nigeria with its abundant arable land and over 160 million people, combined with its ability to grow a broad range of agricultural produce can become a leading agricultural power in the continent.

Although 78 per cent of respondents disclosed that

they or their immediate family members engage in farming, only 15 per cent indicated that they are involved in commercial farming.

Additionally, the poll result showed that 35 per cent specified that they are engaged in subsistence farming while 50 percent mentioned that they are involved in both subsistence and commercial farming.

The implication of this was the unavailability of cash crops like groundnut, cocoa, rubber, palm oil produce, etc. for export purposes, it explained.

Furthermore, out of the 78 per cent who said that they are involved in farming, 83 per cent stated that they grow staple crops, 28 per cent said they grow vegetables while 20 per cent engage in poultry farming.

This was ascribed to the large number of people who are currently combining subsistence and commercial farming due to the high demand and consumption for staple foods.

“Despite being endowed with abundant natural resources and substantial agricultural potentials, the Nigerian farmers are faced with enormous challenges as revealed in this survey.

Lack of fertilizer is tipped as one of the major challenges farmers face as stated by (61 percent) of the respondents, lack of agricultural loans (35 percent) and high costs of farm inputs (21 percent) were also mentioned as issues hindering their efforts.

“To cushion these effects, 51 percent opined that farmers should be provided with enough incentives in form of fertilizers, improved seedlings, etc. and 48 percent advocated agricultural loans to farmers while 13 percent encouraged the provision of mechanized farming equipment to farmers to enhance the growth of agriculture in Nigeria,” it added.

The agriculture poll was conducted in the week of November 1st, 2016.

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, 14 NOV 2016 The price of OPEC basket of fourteen crudes stood at $40.94 a barrel on Monday, compared with $41.54 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

49

T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

Nigeria’s top 50 stocks based on market fundamentals

15-Nov-16

14-Nov-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

161.50

164.00

-1.52%

2,752,041,945,907.50

9.20

17.55

4.84

4.95%

3.68

02 Nigerian Breweries Plc

142.31

142.00

0.22%

1,128,390,347,371.28

4.03

35.27

3.74

2.53%

6.88

03 Nestle Nigeria Plc

814.97

814.97

0.00%

645,991,065,692.44

8.81

92.49

3.74

3.56%

20.47

04 Guaranty Trust Bank Plc

21.90

21.00

4.29%

644,542,825,005.60

4.90

4.47

1.60

8.08%

1.31

05 Zenith Bank Plc

14.38

14.50

-0.83%

451,481,580,642.68

3.91

3.68

0.95

12.52%

0.65

06 Lafarge Africa Plc

44.00

48.00

-8.33%

200,415,679,640.00

-9.39

-4.69

0.94

6.82%

0.99

361.00

361.00

0.00%

199,745,022,993.00 -44.58

-8.10

2.57

4.41%

0.51

48.10

48.10

0.00%

181,976,549,625.00

0.69

69.49

2.74

0.10%

19.40

9.52

9.60

-0.83%

174,687,727,566.80

0.68

14.07

0.30

6.51%

0.28

10 Presco Plc

43.85

43.85

0.00%

174,105,418,423.25

0.03

2.44

2.96%

4.16

11 Stanbic IBTC Holdings Plc

16.50

16.50

0.00%

165,000,000,000.00

2.04

8.10

1.18

0.61%

1.40

12 Access Bank Plc

5.50

5.36

2.61%

159,103,843,970.50

2.59

2.13

0.45

10.00%

0.36

13 United Bank for Africa Plc

4.30

4.30

0.00%

156,001,963,184.60

1.75

2.46

0.47

13.95%

0.36

14 Guinness Nig Plc

89.00

89.00

0.00%

134,024,048,732.00

-3.06

-29.10

1.30

3.60%

3.40

15 Forte Oil Plc.

94.00

94.32

-0.34%

122,433,223,682.00

3.31

28.43

0.79

3.67%

2.83

3.07

3.07

0.00%

110,198,548,871.44

0.21

14.80

0.21

4.89%

0.18

17 Total Nigeria Plc

290.00

290.00

0.00%

98,461,332,730.00

38.02

7.63

0.37

4.83%

4.32

18 7-Up Bottling Comp. Plc

143.32

143.32

0.00%

91,809,410,825.16

-0.05

0.99

1.54%

4.14

6.30

6.25

0.80%

75,600,000,000.00

1.03

6.14

0.53

7.94%

1.21

195.00

190.00

2.63%

70,316,076,090.00

19.32

10.09

0.77

3.69%

3.80

21 International Breweries Plc

19.00

19.89

-4.47%

62,590,736,320.00

0.02

843.25

2.35

1.32%

5.71

22 Julius Berger Nig. Plc

38.00

38.00

0.00%

50,160,000,000.00

-2.95

-12.90

0.43

3.95%

2.64

23 Flour Mills Nig. Plc

18.88

18.88

0.00%

49,545,598,090.56

-1.19

-15.82

0.12

10.59%

0.50

3.89

4.09

-4.89%

46,814,667,497.66

-3.15

-1.23

0.18

19.28%

0.29

25 Okomu Oil Palm Plc

42.47

42.47

0.00%

40,512,557,700.00

4.82

8.80

6.16

0.24%

2.51

26 U A C N Plc

17.76

17.76

0.00%

34,114,551,513.12

3.37

5.27

0.45

5.63%

0.45

27 Transnational Corporation Of Nigeria Plc

0.79

0.83

-4.82%

30,589,587,965.75

-0.47

-1.69

0.59

0.00%

0.42

28 Wema Bank Plc

0.62

0.62

0.00%

23,916,168,970.22

0.06

10.41

0.47

0.00%

0.51

33.74

33.74

0.00%

23,618,000,000.00

2.28

14.77

3.54

3.41%

13.80

30 Fidelity Bank Plc

0.79

0.82

-3.66%

22,880,442,696.68

0.39

2.04

0.15

20.25%

0.12

31 Custodian And Allied Insurance Plc

3.81

3.63

4.96%

22,409,902,582.95

0.76

4.99

0.61

3.67%

0.78

32 Diamond Bank Plc

0.94

0.98

-4.08%

21,770,765,629.92

-0.29

-3.20

0.10

0.00%

0.10

33 Sterling Bank Plc

0.75

0.77

-2.60%

21,592,813,594.50

0.29

2.61

0.20

12.00%

0.26

34 FCMB Group Plc

1.08

1.08

0.00%

21,386,927,643.48

0.61

1.76

0.13

9.26%

0.12

35 National Salt Co. Nig. Plc

7.53

7.18

4.87%

19,950,270,986.34

0.85

8.87

1.06

7.30%

2.70

10.57

10.57

0.00%

19,852,595,562.80

0.50

21.17

0.71

12.30%

1.94

1.80

1.87

-3.74%

18,900,000,000.00

0.28

6.46

0.94

2.78%

0.90

38 Glaxo Smithkline Consumer Nig. Plc

15.00

15.00

0.00%

17,938,147,320.00

-2.98

-5.03

0.64

2.00%

2.04

39 PZ Cussons Nigeria Plc

15.77

15.77

0.00%

15,770,000,000.00

5.69

2.77

1.10

0.63%

0.42

40 Continental Reinsurance Plc

1.01

1.01

0.00%

10,476,471,755.12

0.42

2.40

0.47

11.88%

0.56

41 Honeywell Flour Mill Plc

1.09

1.14

-4.39%

8,643,915,447.22

-0.40

-2.70

0.18

14.68%

0.26

42 Skye Bank Plc

0.53

0.55

-3.64%

7,356,559,747.30

-2.93

-0.18

0.04

56.60%

0.07

43 Unity Bank Plc

0.58

0.58

0.00%

6,779,816,006.36

-0.10

-5.66

0.10

0.00%

0.08

44 Wapic Insurance Plc

0.50

0.52

-3.85%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 Cement Co. Of North.Nig. Plc

4.48

4.48

0.00%

5,629,916,391.68

0.22

20.46

0.51

2.23%

0.52

47 UACN Property Development Co. Limited

2.80

2.80

0.00%

4,812,499,986.00

0.30

9.36

1.14

25.00%

0.14

48 AIICO Insurance Plc

0.60

0.60

0.00%

4,158,122,688.00

0.22

2.69

0.14

8.33%

0.41

49 Nigerian Aviation Handling Company Plc

2.36

2.25

4.89%

3,833,156,250.00

0.15

15.62

0.48

8.47%

0.64

50 Fidson Healthcare Plc

1.23

1.25

-1.60%

1,845,000,000.00

0.24

5.23

0.28

4.07%

0.29

07 Seplat Petroleum Dev. Co. Ltd 08 Unilever Nigeria Plc 09 Ecobank Transnational Incorporated

16 FBN Holdings Plc

19 Dangote Sugar Refinery Plc 20 Mobil Oil Nig Plc

24 Oando Plc

29 Cap Plc

36 Cadbury Nigeria Plc 37 Mansard Insurance Plc

TOTAL

8,366,532,038,626.91

TOTAL MARKET CAP

8,901,064,784,550.65

% OF MARKET CAP Annotation - MA* = Simple Moving Average

93.99%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 14-Nov-16

Close 15-Nov-16

Change %

25,986.81 8.95

25,857.06 8.90

-0.50% -0.50%

107.97 8.41

107.45 8.37

-0.47% -0.47%

Table 3 Top 5 Gainers Stock

Open Close Change 14-Nov-16 15-Nov-16 %

Custodian And Allied Insurance Plc Nigerian Aviation Handling Company Plc National Salt Co. Nig. Plc Guaranty Trust Bank Plc

3.63

3.81

4.96%

2.25

2.36

4.89%

7.18 21.00

7.53 21.90

4.87% 4.29%

Table 4 Top 5 Losers Stock

Open Close Change 14-Nov-16 15-Nov-16 %

Lafarge Africa Plc Oando Plc Transnational Corporation Of Nigeria Plc International Breweries Plc Honeywell Flour Mill Plc

48.00 4.09 0.83

44.00 -8.33% 3.89 -4.89% 0.79 -4.82%

19.89 1.14

19.00 -4.47% 1.09 -4.39%

Index dips further with 0.50% loss Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, November 15th, 2016 continues its bearish trend as stock market again closed red due to lingering economic uncertainties. However, the stock market is not unlikely to make an upturn as Monetary Policy Committee prepares for its last meeting this year coming up on 21st and 22nd November. This was further highlighted by negative performances from the NSE Sub sectors: Insurance, Consumer Goods and Oil & Gas (Save Banking). Trading activities decreased as volume of 190 million shares worth of N905million in 2,417 deals exchanged hands today. This is a decrease from the 161 million shares worth of N1.12 billion in 2,431 deals which exchanged hands on Monday. Topping in volume terms were Standard Alliance Insurance Plc, United Capital Plc and FBN Holdings Plc, while International Breweries Plc and Guinness Nigeria Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with 0.50% (-129.75) decrease to close at 25,857.06 from 25,986.81 the previous trading day. Market Capitalization depreciated in tandem to N8.90 trillion from N8.95 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with a decrease of 0.47% to close at 107.45 from 107.97 recorded at the end of the previous trading day, while its market capitalization stood at 8.37 trillion from 8.41 trillion of the previous trading day.

A total number of 9 stocks gained on the bourse today while 19 stocks declined, 71 leaving stocks unchanged. Custodian And Allied Insurance Plc merged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.96% to close at N3.81 per share. It was followed by Nigerian Aviation Handling Company Plc with a gain of 4.89% to close at N2.36 per share. Others on the gainers list include: National Salt Co. Nig. Plc, Guaranty Trust Bank Plc and Mobil Oil Nig. Plc; while on the decliners’ list, Lafarge Africa Plc with a loss of 8.33% to close at N44.00 per share. It was followed by Oando Plc with a loss of 4.89% to close at N3.89 per share. Others on the decliners list include: Transnational Corporation Of Nigeria Plc, International Breweries Plc and Honeywell Flour Mill 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

50

WEDNESDAY, november 16, 2016 • T H I S D AY

MARKET NEWS

‘Clearer Govt’s Economic Policy Direction will Boost Equities Market’ Goddy Egene The clarity of the economic policy direction of the federal government holds the short-to-medium term needed upward push for the equity market, analysts at FSDH Research have said.

In their economic monthly outlook for November 2016 obtained by THISDAY, analysts at FSDH Research said unclear economic direction and shortages of foreign exchange continue to

weigh down risk appetite in the equity market.

The market has recorded year-to-date decline of 9.72 per cent due to persistent fall in the prices of shares resulting from many factors. However, FSDH said the clarity of the economic policy direction of the federal government can push the equity market to the positive side.

Reviewing the performance of the market for the month October, they said investors’

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

sentiments waned at the equity market in October 2016.

“The unclear economic direction and shortages of foreign exchange continue to weigh down risk appetite in the equity market. The Nigerian Stock Exchange All Share Index (NSE ASI) depreciated by 3.94 per cent in October 2016 to close at 27,220.09. Market activities decreased in the month of October 2016, compared with September 2016. The volume

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 14-Nov-2016, unless otherwise stated.

of stocks traded decreased by 54.13 per cent to 3.67 billion shares . The value of stocks traded also decreased by 34.97 per cent to N32.02 billion,” they said.

Looking ahead, they said the lacklustre trading pattern may continue except: there is an evidence that the stock of the foreign reserve will increase, there are clear policies from the federal government to lift the economy; the expected

weak performance in most of the quoted company may also lead to additional poor performance in the equity market; going by historical performance.

“The equity market may receive a boost from the investment activities of institutional investors (pension funds and insurance companies) to end the year 2016. However, going by the current weak macroeconomic environment, and low liquidity

in the equity market the market may not witness improvement in activities towards the end of the year,” they said.

On investment strategy to adopt, they said: “We recommend that investors should maintain a mediumto-long term position in the equity market. We reiterate that long-term investors should take long positions in stocks that have strong fundamentals,” they said.

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 121.09 Nigeria International Debt Fund 219.11 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 0.68 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 121.90 11.09% 220.21 9.47% info@acapng.com Offer Price Yield / T-Rtn 0.68 9.93% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

15.87%

enquiries@arminvestmentcenter.com Bid Price 12.21 284.44 22.38

Offer Price 12.58 293.02 23.05

Yield / T-Rtn 0.18% 1.77% 1.50%

1.00

1.00

15.38%

investmentcare@axamansard.com Bid Price 104.17

Offer Price 104.82

Yield / T-Rtn 4.50%

1.00 1.00 14.47% investmentmanagement@chapelhilldenham.com Bid Price 2.12 9.05

Offer Price 2.18 9.28

Yield / T-Rtn 4.37% -8.17%

82.71

84.83

1.97%

invest@fbnquest.com Bid Price 1,075.74 109.78 100.00 $101.59 $101.40

Offer Price 1,076.81 110.31 100.00 $102.37 $102.17

Yield / T-Rtn 4.97% 4.10% 13.34% 5.42% 5.22%

109.38

110.86

10.12%

fcamhelpdesk@fcmb.com Bid Price 0.92 2.53

Offer Price Yield / T-Rtn 0.93 1.65% 2.53 8.63% coralfunds@fsdhgroup.com

Bid Price 2,181.97

Offer Price 2,207.14

Coral Income Fund 2,067.27 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 0.30%

2,067.27 9.28% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

1.00

15.35%

Vantage Balanced Fund

1.64

1.66

0.69%

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 11.56% Lotus Halal Fixed Income Fund 996.02 996.02 -0.40% 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 9.30 9.38 -4.95% Meristem Money Market Fund 10.00 10.00 13.95% 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 1.04 1.05 5.17% PACAM Fixed Income Fund 10.30 10.36 3.32% 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 107.74 108.47 5.75% 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 1.23 1.23 8.89% 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 1,807.21 1,817.49 7.61% Stanbic IBTC Bond Fund 152.13 152.13 3.43% Stanbic IBTC Ethical Fund 0.77 0.78 3.33% Stanbic IBTC Guaranteed Investment Fund 182.69 182.69 7.66% Stanbic IBTC Iman Fund 134.40 136.08 -0.68% Stanbic IBTC Money Market Fund 100.00 100.00 16.34% Stanbic IBTC Nigerian Equity Fund 7,476.07 7,575.07 4.01% 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 1.14 1.16 8.40% United Capital Bond Fund 1.25 1.25 15.97% United Capital Equity Fund 0.68 0.69 -1.31% 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 9.52 9.68 -0.23% Zenith Ethical Fund 11.00 11.08 -4.03% Zenith Income Fund 16.78 16.79 4.64%

REITS

NAV Per Share

Yield / T-Rtn

11.58 122.85

3.99% 6.04%

Bid Price

Offer Price

Yield / T-Rtn

8.70 74.09

8.80 75.50

-9.14% -10.97%

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

2.52 7.18 11.96 16.33 129.34

2.56 7.26 12.06 16.53 131.34

9.01% 12.29% -4.68% -14.91% -

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.

T H I S D AY WEDNESDAY NOVEMBER 16, 2016

51

52

WEDNESDAY, NOVEMBER 16, 2016 • T H I S D AY

NEWS

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

FG, N’Delta Parley in Disarray as ‘Avengers’ Bomb Agip, Oando, Shell Trunklines

NSCDC confirms attack on oil facility Oil region makes fresh demands from FG

Tobi Soniyi in Abuja , Sylvester Idowu in Warri and Emmanuel Addeh in Yenagoa It is now certain that the ongoing dialogue between the Pan-Niger Delta Elders Forum and

President Muhammadu Buhari is heading for the rocks as Niger Delta Avengers (NDA), yesterday claimed it brought down three trunklines in Nembe, Bayelsa State, with supply capacity of 300,000 barrels per day to the Bonny export

Southern Kaduna Killings will Not Derail Peace Efforts, Says State Govt Death toll rises to 45 Senate summons IG

Omololu Ogunmade in Abuja and John Shiklam in Kaduna

powerful people were sponsoring terrorists to eliminate the people.

Musa demanded the The Kaduna State release of youths whom he Government has declared claimed were being unjustly that the last Sunday killings detained in Kafanchan and of 31 people in some villages restitution paid them over in Kauru Local Government the harrowing experience.

Musa called on the youths Area of the state will not derail efforts aimed at peace never to take the law into building as the death toll their hands no matter the provocation, adding that rose to 45.

But the Southern Kaduna communities should take Peoples Union (SOKAPU) every available legal means of urged the state government defending themselves, their to fund a formidable joint property and dignity against military operation that would anyone out to terrorise them flush out murderers and should government renege restore ‘captured’ lands to on that cardinal responsibility it owes them. their owners.

The state government in a Senate yesterday summoned statement condemning the the Inspector-General of Police attack, expressed sadness (IG), Mr. Ibrahim Idris, to over the incident, stressing appear before its security the urgency for peace- committees to explain while building and enhancement the Nigeria Police has failed security in the area. to curb incessant and mindless The statement which was killings in Southern part of issued yesterday by Samuel Kaduna State.

Aruwan, spokesman to This resolution was the the state Governor, Nasir aftermath of a motion by el-Rufai, condoled with the Senator Danjuma La’ah victims of the attack.

(Kaduna South), in which he The state government called for the declaration of described the killings as a state of emergency in the barbaric conduct by people area as a result of protracted who are opposed to peaceful killings of residents. and harmonious living by According to La’ah, communities. incessant attacks by armed The government explained herdsmen on the people of that as it continues to work Southern Kaduna, which he on security enhancements it said climaxed on October 16, would also keep pursuing 2016, led to the destruction peace-building, resolving of scores of lives and wanton conflicts through dialogue properties worth billions of between communities as naira. a panacea for sustainable La’ah further said the armed peace and development in herdsmen had displaced a the affected area. number of communities and It said emergency relief for possessed such communities survivours had been ordered for grazing of their livestock along with enhanced security. freely, pointing out that the In its reaction, SOKAPU entire Southern Kaduna is lamented the fequent insecure as original inhabitants invasions and killings in can no longer access their rural communities in the farms. southern part of the state.

Supporting the The National Chairman motion, Senator Shehu Sani of SOKAPU, Solomon (Kaduna Central) appealed Musa, a lawyer, said in to the Senate to intervene a statement: “It has now in the plight of Southern become abundantly clear Kaduna people and ensure to even the worst skeptics that peace is restored that Southern Kaduna has to the troubled area as become a killing field, where he lamented how previous genocide is taking place attempts by both the state unabated.” and federal governments He alleged that some had been futile.

terminal in Rivers State.

The NDA said in a statement issued yesterday that its elite strike team 03 attacked Nembe 1, 2 and 3 trunklines operated by Agip, Oando and Shell at about 11.45p.m last Monday in response to the ongoing naval exercise in the region, particularly in Delta State.

THISDAY checks revealed that the attacks came up less than eight hours to the arrival of the Chief of Naval Staff (CNS), Vice Admiral Ibok-Ete Ibas, to Nigerian Navy Ship (NNS Delta) Warri; Navy Hospital Effurun near Warri and other naval formations in Sapele and Oghara in Delta State.

A statement signed by the group’s spokesman, Mudoch Aginibo, said: “At about 11.45p.m. November 15, 2016, our Elite Strike Team 03 struck Nembe 1,

2 and 3 truckline operated

by Agip, Oando and Shell with supply capacity of 300,000 barrel per day to Bonny export terminal in Rivers State.

“This is in response to the so-called ‘Operations Sharkbite,’ an art of terrorism inaugurated by the tyranny of the Nigerian Navy establishment and orchestrated by some elements of the ruling political class to continuously undermine any effort by the Nigerian state to addressing the legitimate demands of the people of the Niger Delta and a conspiracy to bloat the accounts of some security contractors and conflict merchants within the party structure of the APC.” The latest attack was in contrast with the position of the Niger Delta

stakeholders led by Chief Edwin Clark which last Friday condemned the renewed attacks on oil facilities, describing the avengers as criminals and enemies of the region.

Other rights groups, including Ijaw Peoples Development Initiative (IPDI) led by Austin Ozobo and Centre for Peace and Environmental Justice (CEPEJ) headed by Sheriff Mulade, have condemned the renewed attacks on oil facilities by the group.

THISDAY checks revealed that the spontaneous reactions and condemnations of its attacks led to NDA’s statement last Sunday in which it laboured to justify its recent actions which still did not gel with its hitherto supporters and sympathisers in the region.

Trying to justify the

attacks on the Nembe lines yesterday, the NDA said its attack on the trunkline was to reiterate its strong resolve that time is running against the Nigerian government and “that there is doom ahead.

“The Nigerian government needs our cooperation more than we need the government as it concerns the extraction of the crude oil and hydrocarbon resources in our God-given land.

We are determined to continue this war by all means necessary, until that environment prevails for a genuine dialogue and negotiations within the framework of the 16-point key demands presented to President Buhari by PANDEF on the November 1, 2016.

Cont’d on Pg 57

EXECUTIVE MARKETING

L-R: Abia State Governor, Dr. Okezie Ikpeazu (right), delivering made-in-Aba shoes to former President, Chief Olusegun Obasanjo in Otta farm, Ogun State...yesterday

Ambode: Lagos to Start Getting 13% Derivation Fund from December Ejiofor Alike Governor Akinwunmi Ambode of Lagos State has stated that the state would get its first share of the 13 per cent Derivation Fund for oil producing states in December this year, following the first shipment of crude oil from the Aje Field located in Oil Mining Lease (OML) 113, offshore Lagos.

Speaking yesterday in Lagos at the 2016 Annual International Conference and Exhibition of the Nigerian Association of Petroleum Explorationists (NAPE), the governor, who was represented by the state Commissioner for Energy and Mineral Resources, Mr. Wale Olowu, said he was pleased to announce that the first

export from the Aje oil field had happened.

“That is not the big deal; the big deal is that Lagos State is anxiously awaiting its first derivation in December. So, in December, we will collect our first derivation. We cannot wait to see a lot of oil and gas come under the soil of Lagos because it will help us in the area of employment; it will help us in the area of electricity generation, which we want to do off-grid anyway, and it will also help us in making sure that our revenue continues to be diversified.”

“We reassure all stakeholders in the industry of our commitment to provide a safe and secure environment for exploration activities that is consistent with

global best practice,” he added Ambode said his government would continue to work to make the state the investment and oil and gas hub of the country.

According to him, the state was also closely monitoring and “getting ready to massively support other Oil Prospecting Licences in Lagos to make sure they can quickly transform to Oil Mining Leases.”

Ambode said the state government had established its own oil and gas corporation called Ibile Oil and Gas, which would open for business by next month.

Ambode said the company would be involved in exploration, development and production, among others.

“We also want the development

of the oil and gas industry in the state. We didn’t plan it originally.

But now that we are can see the evolution, we are doing everything possible to bring them together because on our west coast, we have found oil.

On the east coast, we already have Dangote refinery that is the largest in Africa and one of the largest in the world, and then in our centrals, we have the banks that can finance, the project, the oil tank farms and then we have the seaport for export,” Ambode explained.

Yinka Folawiyo Petroleum Company Limited had on May 3 announced the commencement of crude oil production on the Aje field.

WEDNESDAY, NOVEMBER 16, 2016 • T H I S D AY

53

NEWSXTRA

FG Declares ASUU Strike Unconstitutional Appeals to union to shelve action Senate wades into face-off, asks Saraki to mediate

Omololu Ogunmade and Paul Obi in Abuja The federal government yesterday declared the planned nationwide strike Academic Staff Union of Universities (ASUU) as unconstitutional given that the union was yet to exhaust all the necessary mechanisms required before a strike could be embarked upon.

The government also appealed to the union to shelve its planned strike billed to commence today.

In a statement released late last night and signed by the Director of Press, Ministry of Labour and Employment, quoted the Minister of Labour and Employment, Senator Chris Ngige, as urging ASUU “to rescind its decision on the strike so as to give the government an opportunity to discuss the all contending issues arising from the Collective Bargaining Agreement (CBA) it reached with government.

Ngige explained: “In view of the prevailing circumstances, the issuance of warning strike by ASUU was unconstitutional as the body was yet to exhaust the conflict resolution mechanisms clearly mapped out in the labour laws.

“The claims of nationwide consultations by ASUU cannot be true as the Ministry of Labour and Employment which is the chief conciliator of industrial relations disputes is yet to receive a direct petition from ASUU against the federal government who is the jurisdictional employer,” the minister stated The minister therefore “appealed to ASUU to give the present administration the opportunity to fully address its grievances which stemmed from the inactions of the past administration.”

Meanwhile, the Senate yesterday waded into the rift between the federal government

and ASUU and mandated its President, Bukola Saraki, to mediate on the matter.

The union had last Monday issued an ultimatum to the federal government to fulfill the agreement it reached with it in 2009 or face a one-week warning strike.

Moving a motion for Senate’s intervention in the matter yesterday, Senate Committee Chairman on Tertiary Education, Senator Jibril Barau, drew the attention of the parliament to the threat of warning strike by ASUU and harped on the need for the federal government to urgently engage the lecturers in a dialogue before the matter snowballs into a full bloom industrial action.

Jibril had argued that fulfilling the agreement it reached with ASUU in 2009 was necessary for the well being and development

of the Nigerian public universities and warned of the consequences of failing to respond to ASUU threat.

“The ASUU is insisting that if the Federal Government of Nigeria continues to fail to implement their aforesaid agreements as well as made certain key necessities, the public shall continue to be incapacitated in carrying out their functions as centre for knowledge acquisition, research and community service in citadel of learning.

“The Senate further notes that there are six vital issues whose continued pendency before the federal government and ASUU are creating discontent among members of the union and they have therefore been calling for the intervention of stakeholders to prevent the breakdown in the university system nationwide.

“The Senate is further concerned that one of the six issues in contention is the introduction of the single treasury account (TSA) system in the universities which is believed

by ASUU to be hampering the smooth running operations of public universities,” Jibril said.

The Senate therefore called “on the executive arm of government to engage the ASUU in first talks to proffer solutions on how best to implement all the agreements that both bodies entered into since 2009 and implementation of key necessities that are vital for the well-being and development of our universities as canvassed by ASUU. The parliament also resolved that whatever “was agreed to be paid by lecturers and other actions to be taken as a result of prayer one above should be

captured in the 2017 budget for prompt implementation.”

It also commended “ASUU for choosing the path of dialogue rather than confrontation as a means of resolving all the outstanding issues between it and the federal government and to urge the union not to relent in its approach of dialogue.

In his remark, Saraki said preventing the strike was imperative “in the interest of the people that we represent and to ensure that we must find a way of seeing the implementation of this agreement, which is over eight years now.”

Saraki promised to honour Senate’s mandate by getting “the relevant parties to quickly come to the table so that we can find a way of moving forward and report back to us.”

Ondo: Ali Modu Sherrif’s Faction Runs to Supreme Court Tobi Soniyi in Abuja Senator Ali Modu Sheriff-led faction of the of the Peoples Democratic Party (PDP) has asked the Supreme Court to stay all proceedings at the Court of Appeal relating to the party’s gubernatorial candidate in Ondo State pending the determination of his appeal at the Supreme Court.

The appellants in the notice of appeal, filed by their counsel, B.E.F Nwofor (SAN), before the Supreme Court on November 11, 2016, challenged the decision of the panel that allowed the application filed by Mr. Eyitayo Jegede (SAN), challenging the judgment of the Federal High Court that ordered the Independent National Electoral Commission (INEC) to remove his name and replace it with that of Jimoh Ibrahim.

The dissatisfied appellants also challenged the decision of the panel refusing to disband itself.

The appellants also prayed for an order of the court to stay all further proceedings and further hearing in appeal No. CA/A/551C/2016: between Jegede and Prince Biyi Poroye and ten others pending the hearing and determination of the appeal filed on 11 November 2016 by the appellants at the Supreme Court.

The Court of Appeal had on November 10 ruled against the Sherrif’s faction.

Dissatisfied, the faction headed to the apex court.

The appellants raised six grounds upon which they asked the Supreme Court to set aside the judgment of the Court of Appeal.

They contended that the learned justices erred in law when they held that the decision of the President of the Court of Appeal to constitute a special panel to preside over the Ondo State appeals was not against the normal administrative functions of

her office.

They argued, among others, that the three-member tribunal, led by Justice Ibrahim Salauwa, erred in law and was in breached of S 36 of the 1999 Constitution in its decision that allowed the 1st respondent (Jegede) leave to appeal against the decision of the Federal High Court of October 14.

Poroye in a separate appeal asked the Supreme Court to, among others, set aside the verdict of the Court of Appeal and grant all his reliefs as contained in his petition.

The appellants asked the Supreme Court to note that their affidavit at the Court of Appeal was neither challenged nor controverted by the respondents.

They also accused the justices of the Court of Appeal of failing to apply the principle of natural justice.

The appellants prayed the Supreme Court to allow the appeal and to also set aside the ruling of the lower court refusing to set aside the decision of the President of the Court of Appeal to constitute a special panel.

Also, in another appeal filed

by Poroye against Senator Ahmed Makarfi and three others, the appellants prayed the Supreme Court to take judicial notice of the appellants dissatisfaction with the decision of the Court of Appeal of 10, November, 2016.

Meanwhile, a letter from the Supreme Court confirming the notice of appeal dated November 14 and signed by one Josephine Ekperobe has been transmitted to the Court of Appeal.

No date has been fixed for the hearing of the appeal.

The Court of Appeal had last week allowed Jegede to challenge the judgment of Justice Okon Abang of the Federal High Court which ordered INEC to remove his name and replace it with that of Jimoh Ibrahim.

WEAPONS OF MASS DESTRUCTION L-R: Rivers State Governor , Nyesom Ezenwo Wike, Brigade Commander, 2nd Amphibious Brigade, Brigadier Hamisu Hassan; and others. inspecting the arms amd ammunition surrended by cultists the close of the state Amnesty Programme at the Government House, Port Harcourt....yesterday

FG Sets up C’ttee to Recover N450bn Unremitted Operating Surpluses from Revenue Agencies Mgts of CBN, NAFDAC, NTA, SEC, PTDF, others to be summoned Ndubuisi Francis in Abuja The Federal Ministry of Finance has constituted a committee to recover unremitted operating surpluses of agencies of government, running into N450 billion.

Some of the agencies are the Central Bank of Nigeria (CBN), Petroleum Technology Development Fund, (PTDF), National Agency for Food and Drugs Administration and Control (NAFDAC), Nigerian Television Authority (NTA), the Securities and Exchange Commission (SEC), among others The committee headed by the Accountant General of the Federation, Alhaji Ahmed Idris, is to reconcile the operating surpluses of 31 revenue-generating agencies of government between 2010 and 2015.

The findings of the committee so far have shown underremittance of over N450 billion, which has accrued within the period, a statement by Festus

Akanbi, media aide to the Minister of Finance, Mrs. Kemi Adeosun, said.

The statement added that “staff of the Office of the Accountant General of the Federation had critically reviewed the accounting statements of these agencies, which include the Central Bank of Nigeria (CBN), Petroleum Technology Development Fund, (PTDF), National Agency for Food and Drug Administration and Control (NAFDAC), Nigerian Television Authority (NTA), and the Securities and Exchange Commission (SEC), among others.

“The committee will therefore be inviting the management of these agencies to explain why their operating surpluses have not been remitted as mandated by the Fiscal Responsibility Act 2007.”

Sections 21 and 22 of the Fiscal Responsibility Act 2007, specifically states that: •“The government corporations

and agencies and government owned companies listed in the schedule to this Act (in this Act referred of as “the corporations”) shall, not later than six months from the commencement of this Act and every three financial years thereafter and not later than the end of the second quarter of every year, cause to be prepared and submitted to the minister their schedule estimates of revenue and expenditure for the next three financial years.

• “Each of the bodies referred to in sub-section (1) of this section shall submit to the minister not later than the end of August in each financial year,” the statement noted.

According to the statement, some of the agencies incurred huge expenses on overseas training and medicals, and huge expenses on behalf of supervisory ministries and/other organs of government involved in oversight or regulatory functions without

appropriate approval.

Other infractions included payment of salaries and allowances to staff and board members, governing councils, and commissions which are outside or above the amount approved by the Revenue Mobilisation, Allocation and Fiscal Commission (RMFAC) and the National Salaries, Income and Wages Commission.

They are also guilty of unacceptable expenses incurred on donations and sponsorships, among others as well as unfavourable contract signed for revenue collection by a third party; granting of staff loans that have not been repaid as well as sale and transfer of assets to board members, among others.

According to the finance ministry, the overall effect of these practices was that operating surpluses of these agencies are lower than they should be.

54

WEDNESDAY, NOVEMBER 16, 2016 • T H I S D AY

NEWS

IG Justifies Killings of Shiite Followers Osinbajo says Nigeria will not abandon its fallen heros Release corpses of our members, IMN tells police

Tobi Soniyi in Abuja and Ibrahim Shuaibu in Kano The Inspector-General of Police (IG), Idris Ibrahim, yesterday said his men killed members of the Islamic Movement of Nigeria (IMN) popularly known as Shiites, during a clash in Kano State on Monday because they (IMN members) were armed to the teeth and were ready to kill police officers.

Ibrahim, who spoke with State House Correspondents in Abuja after Vice President Yemi Osinbajo launched the 2017 Armed Forces Remembrance Emblem and Appeal Fund, said his men were left with no option but to respond to the threat by the Shiites.

He said: “When you have Nigerians armed to the teeth, killing police officers, I don’t think it happens anywhere. I

Senate Probes CBN, Banks over Illegal Sale of Mint Omololu Ogunmade in Abuja The Senate yesterday accused the Central Bank of Nigeria (CBN) and deposit money banks of promoting illegality by sponsoring hawking of mint on the streets and consequently mandated its Committee on Banking, Insurance and Other Financial Institutions to investigate their roles in the matter.

The parliament also challenged the CBN to strengthen its audit system particularly in relation to collation, processing and disposing of defaced and mutilated notes.

In a motion, Senator Mao Ohuanbunwa (Abia North), said “every country’s currency is a national treasure deserving of a level of dignity, and Nigeria naira is not an exception. Yet throughout the country from Lagos to Sokoto, Kano, Enugu, Port Harcourt and even the Federal Capital Territory (FCT), a huge illicit industry has been built around trading on freshly minted naira notes by certain individuals who engage in the touting and hawking of the nation’s treasure and legal tender.”

He described hawking as a violation of Section 21(4) of CBN Act 2007 which he said was punishable adding that illicit trade of mint was responsible for scarcity of new notes across

the country.

“The Senate is aware that the hawkers dealing on the illicit trade in naira, focus on the denominations of N5, N10, N20, N50 and N100 notes, and through that encourage the persistent scarcity of new notes in these denominations, while making huge spreads of above N250 on every N1000 notes sold.

“Whereas these aforementioned illicit activities constitute a violation of Section 21(4) of the Central Bank of Nigeria Act, 2007, which state inter-alia: It shall also be an offence punishable under sub-section (1) of this section for any person to hawk, sell or otherwise trade in naira notes, coins or any other note issued by the bank.”

“Amazed that security agencies continue to look elsewhere while the illicit trade on Naira notes go on, and these new notes which are scarce in the banking halls readily get into the hands of illegal hawkers, even as Money Deposit Bank and Automated Teller Machines (ATMs) continue to dispense dirty and mutilated naira notes to legitimate account holders.

These acts certainly cast the activities of the CBN and the money deposit banks in bad light as the illegal sources of the naira notes in this illegal trade,” he stated.

think as Nigerians, we have to appreciate, when you appreciate a dangerous situation, and to be sympathetic with the police that are being killed by some of these miscreants.”

He said the police had the responsibility to ensure law and order in a situation where people take over the whole country.

According to him, early Monday morning, the police got wind of the plan by Shiite members to block the KanoZaria Road and that the police reacted by deploying officers to ensure free movement of ordinary Nigerians.

Earlier, the vice president had said that Nigeria would continue to honour members of the armed forces who lost their lives while in service to the country.

Speaking at the launch of the 2017 armed forces remembrance emblem and appeal fund, the vice president said: “We are gathered here today to observe a worthy tradition of acknowledging and appreciating the gallantry and sacrifices of our veterans in the first and second world

wars, peace keeping operations around the world and internal security operations, particularly the ongoing campaign against terrorism at home.”

On behalf of the federal government, the vice president launched the 2017 Armed Forces Remembrance Day emblem and appeal fund with N10m.

He said it was noble to honour distinguished veterans, some of who paid the highest price and many others who devoted significant part of their lives to the service of the country and the world at large.

He noted that since independence 56 years ago, the nation had witnessed a number of internal strifes, survived a civil war.

Osinbajo said the theme of this year’s celebration, “Appreciating the resilience of the Nigerian Armed Forces” spoke to the perseverance and dedication of the nation’s serving and departed men in the uniform.

Also the Minister of Defence, Mansur Dan-Ali (rtd), described the event as a unique one because it came at a time when Nigeria

has achieved milestone in its anti-insurgency war with territories recovered despite economic hardship.

Dan-Ali said the armed forces had played significant roles to maintain peace, hence the nation is grateful to all those who have paid the supreme price.

The Chairman of the Nigerian Legion, Col. Micah Gaya (rtd.), told the gathering that the group recently gave food items to 50 widows, bursaries to 50 children and assisted 50 veterans at an event held in Makurdi, Benue State.

Gaya later decorated Osinbajo; representative of the Senate President, Ali Ndume; acting Chief Justice of Nigeria, Justice Walter Onnoghen; Secretary to the Government of the Federation, Babachir Lawal; Dan-Ali; as well as service chiefs with the emblem.

Meanwhile, Kano State chapter of the IMN has charged the police to, as a matter of urgency, release the corpses of over 50 members of their sect killed in Kano during clash with policemen.

The Shiites leader in Kano, Malam Sanusi Abdulkadir

Koki, told journalists in Kano yesterday that apart from claiming the colossal damages of properties and human lives on the part of their members, Shiite was yet to understand why police should be paid salary with the tax payers’ money who they also molested and killed.

Koki also vowed that no amount of persecution or unnecessary attack from the police or any organ of the security operatives can either prevent or force them not to practise their religion in accordance to the doctrine of what they believe in.

Disputing the figure of casualties from the clash as presented by the police, Koki said: “It was far from the truth” The Shiites leader also demanded the immediate release of the corpses of their members so that they would be given a befitting burial in accordance with Islamic rites.

He also threatened to institute legal action against the Nigeria Police over what they described as gruesome murder of their members while on peaceful procession.

WITH PDP FAITHFUL Reddington Hospital Inaugurates MEETING R-L: Bayelsa State Governor, Seriake Dickson; Ondo State Governor, Dr. Olusegun Mimiko; National Publicity Secretary of the Peoples Democratic Party (PDP), Dayo Adeyeye; and Chief of Staff to Mimiko, Dr. Kola Ademujimi, during the GE Imaging Technology Today meeting with members of South-west groups in Akure...yesterday.

The Reddington Hospital pioneers a new era in-patient diagnostic digital imaging by acquiring the first 1.5Tesla MRI Explorer with contrastfree imaging technology in Nigeria from GE Healthcare.

The new MRI technology is designed to produce the highest image quality of various parts of the body without the use of contrast media, an injection normally infused into patients when going through the old conventional MRI. The new MRI provides the doctors with impressive image qualities that assist in accurate diagnosis.

According to the Group Medical Director, Reddington Hospital Group, Dr. Olutunde Lalude, the new MRI Centre will be inaugurated on November 16, 2016 by the

President and Chief Executive Officer of GE Healthcare (Sustainable Healthcare Solution), Ms. Terri Bresenham.

In his words, “The launch of this unique and much needed technology is in line with Reddington Hospital’s commitment to the development of quality healthcare in Nigeria”.

Reddington Hospital recently launched the Maxy SuperSpecialty Centre in Victoria Island, Lagos which offers professional advice, treatment and management of conditions and diseases using specialists in Otorhinolaryngology (Ear Nose and Throat), Dentistry, Ophthalmology and Optometry (Eye conditions), endoscopy as well as other specialist areas such as dialysis and sleep therapy.

Ikpeazu Delivers Made-in-Aba Shoes to Obasanjo

Former president says shoes are classy, classic, comfortable, wonderful

Tobi Soniyi in Abuja The Governor of Abia State, Dr Okezie Ikpeazu, has delivered some pairs of made-in-Aba shoes to former president, Chief Olusegun Obasanjo, at his Hilltop Mansion home in Ogun State.

A statement issued by the Chief Press Secretary to the Governor, Emanuel Appolos, said the former president had at the 2016 Tony Elumelu Entrepreneurship Forum in Lagos, ordered made-in-Aba shoes, through Ikpeazu, who is also the “Chief Marketing Officer” of Made-in-Aba goods.

Speaking while delivering the shoes, the governor said: “Sir, you made an order for made-in-Aba

shoes through me when we met in Lagos two weeks ago, I am here today to deliver the shoes to you sir. These shoes, including the one I am wearing, were made by our people in Aba. We want you to wear them and tell others about them.

“As promoters of made-in-Aba products, we have taken it upon ourselves to promote made-inAba goods by wearing them and by telling others about them.”

Responding, Obasanjo said: “Governor, I can’t thank you enough, and through you, I cannot thank my brothers and sisters who have decided to adorn me with these wonderful, classy and classic shoes made in our

land by our own people.

“For me, this is very significant in many ways. In fact, let me deliver to you a message from The African Export-Import Bank (Afreximbank) which they ask me to deliver to you, Afreximbank, is spearheading made in Africa, and they came during their annual meeting. The message they left for me to you is that they have heard so much about Aba, and they want me to get in touch with you so they can come back and pay a special visit to Aba, because they want to establish an industrial park in Aba to encourage production and exportation of goods made in Africa.

“And if the shoes you gave me here, which I am wearing one of them, feeling very comfortable on my feet, if they are good for me, I believe they should be good for Africa, and for anybody in Nigeria and indeed for anybody in the world.

“When. We use what we make by ourselves for ourselves, others will simply join us in using them because we are proud of them.

“These shoes are so comfortable and they are so good. Anybody watching me, no matter how high or low that person is, if he wants to help Nigeria get out of recession quickly should call the makers of these shoes in Aba to make for them.”

T H I S D AY • WEDNESDAY, NOVEMBER 16, 2016

NIGERIANS MOURN SULTAN DASUKI…

Atiku, Saraki, Dogara, Others Mourn Ibrahim Dasuki Our Correspondents Former Vice President, Atiku Abubakar, Senate President, Dr. Bukola Saraki and Speaker of the House of Representatives, Hon. Yakubu Dogara, yesterday mourned the death of the former Sultan of Sokoto, Alhaji Ibrahim Dasuki.

Dasuki passed on last Monday at the age of 93.

He was the 18th Sultan of Sokoto between 1988 to 1996 and he was the father to the former National Security Adviser (NSA), Col. Sambo Dasuki (rtd).

Atiku said one of the greatest legacies of the late Sultan of Sokoto, Dasuki was his "modernising influence on the Sultanate and the traditional institution" during his eight years "eventful reign as Monarch."

In a tribute released by his Media Office in Abuja, the former vice president noted that the Dasuki was "a remarkably unique ruler who combined tradition with modernity, making the Sultan palace become the epitome of the beauty of modern architecture."

According to Atiku, it was impossible to visit the Sultan's palace in Sokoto without being moved and overawed by the transformation it underwent under Dasuki's eight-year-tenure as the 18th Sultan of Sokoto.

The Turakin Adamawa also recalled the late Dasuki's encyclopaedic knowledge of Nigeria's chequered history which he said "was incredibly remarkable and overwhelming."

Atiku said that in his last meeting with the late Dasuki, he felt like he was starting school afresh about Nigeria's history adding, "I wish I had a tape recorder to capture my conversation with the late Monarch because he was a repository of invaluable and everlasting knowledge."

He praised the late Dasuki's passion for entrepreneurship and acumen for investments to create not only profits, but also create job opportunities for the people.

Atiku consoled the government, the family and the entire people of Sokoto State over the death of Dasuki.

On his part, Saraki described Dasuki as a statesman whose impact was felt in many areas of Nigeria's national life during his active days.

Saraki in a statement by his Special Adviser on Media and Publicity, Yusuph Olaniyonu, said the late Dasuki helped in reforming local government administration in the country as well as the organisation of Muslim pilgrimage to Saudi Arabia adding that he also played key roles in the pursuit of religious harmony during his days as Secretary General of the Jaamatul Nasir Islam (JNI) Society.

The Senate President commiserated with Hon. Abdulsama Dasuki, a son of the deceased who is currently a member of the eight House of Representatives, every member of the immediate family of the late ex-Sultan, the government and people of Sokoto State, the Muslim Ummah and the entire nation over the demise of the late Dasuki.

He described the late ex-Sultan as a peace loving gentleman who worked for the welfare of his people as he lauded his immense contribution to nation building. "It is noteworthy that during his beneficial lifetime, late Dasuki left his mark as an astute administrator, diplomat, Islamic scholar, educationist and played a pivotal role in unifying the Muslim Ummah through the reorganisation of Jama’atu Nasril Islam and the Nigerian Supreme Council of Islamic Affairs(NSCIA). He will be sorely missed," Saraki said.

Similarly, Dogara described the late monarch as a patriot and man of peace.

Dogara in a statement issued yesterday, commiserated with the Sultanate Council, the government and people of Sokoto state.

“Sultan Dasuki was an epitome of peace and a bridge builder who lived a simple and austere life inspite of his wealth. He lived an exemplary life worthy of emulation. His contributions to the development of the country in the civil service and later in business and also as elder statesman will remain indelible in our minds and history," Dogara said.

Dasuki Contributed in Nation Building Says ACF

The Arewa Consultative Forum (ACF) yesterday described the late former Sultan of Sokoto, Alhaji Ibrahim Dasuki, as a seasoned administrator who contributed immensely to nation building.

The National Publicity Secretary of the forum, Mohammed Ibrahim, in a statement while condoling with the family of the deceased, said Dasuki brought reforms in the local government system in Nigeria and modernised royalty, elegance and equally promoted the Sokoto Caliphate's revered status to

the admiration of Nigerians and the international community.

The statement commiserated with his immediate family, the sovernment and people of Sokoto State and prayed God to grant him eternal peace in Aljannah Firdaus.

Etsu Nupe mourns late Sultan Ibrahim Dasuki

The Etsu Nupe and Chairman of the Niger State Council of chiefs Alhaji Yahaya Abubakar has expressed great shock at the demise of the 18th Sultan of Sokoto, Alhaji Ibrahim Dasuki.

In a condolence message Abubakar said he was deeply touched when he received the news that Dasuki had passed on.

The royal father said: “It was significant that throughout his remarkable life, the monarch retained the humble and unassuming mien of a technocrat," adding that "as a leader, he retained the respect of all and sundry."

While praying for the repose of the soul of the deceased, Abubakar prayed Allah to grant the late Dasuki Aljannatu Fildausi.

The Etsu Nupe also prayed that Allah would grant the family the fortitude to bear "his loss with calm and fortitude.

The Dasuki died at a private hospital in Abuja on Monday and was buried according to Islamic injection yesterday.

Late Former Sultan Dasuki was a Nationalist, Says PDP

The Chairman of the National Caretaker Committee of the Peoples Democratic Party (PDP), Senator Ahmed Mohammed Makarfi, expressed the sympathy over the demise of the former Sultan of Sokoto, Alhaji Ibrahim Dasuki.

The party on behalf of its Board of Trustees (BoT), the National Executive Committee (NEC), the National Caretaker Committee and the entire PDP family nationwide condoled the Dasuki family, government and people of Sokoto State on the demise of the former Sultan of Sokoto.

In a statement signed by the PDP's spokesman Prince Dayo Adeyeye, the party described the late former Sultan as a "detribalised Nigerian and a nationalist per excellence."

Niger Gov: Nigeria will Miss Dasuki’s Wisdom Niger State Governor, Alhaji Abubakar Sani Bello has described the passing away of Alhaji Ibrahim Dasuki, the 18th Sultan of Sokoto as a colossal loss, whose wealth of knowledge will be greatly missed at this crucial and critical period of the nation’s life.

The governor in a condolence message to the Caliphate and Sokoto State Government, said the late Dasuki left an indelible footprint virtually on every sector of human endeavor during his lifetime.

A statement signed by Malam Jibrin Baba Ndace, the Chief Press Secretary to the governor, eulogised and described the late monarch as a seasoned technocrat, respected traditional ruler, diplomat par excellence and religious bridge builder.

"The passing away of Alhaji Ibrahim Dasuki, the 18th Sultan of Sokoto is a tragedy to the Caliphate, Sokoto State, the Muslim Ummah and the country.

His demise at this critical and crucial moment of our country has created a big vacuum. We have lost a rare gem and repository of wisdom.”

"The late Sultan Dasuki traversed the civil service from the Native Authority to regional and national levels where his contributions to nation building were legendary. From a clerk in the Treasury Office of Sokoto Native Authority, the late Sultan rose to the peak of his carrier as Permanent Secretary in the service of Northern Nigeria.

"The late Sultan Dasuki made his mark not only as a traditional and religious leader, but also as a political icon. His contribution to the building of an egalitarian society where all, irrespective of colour, creed, religion or tribe were afforded a level playing ground remain unparalleled.

"We are deeply saddened by the demise of the patriot, whose wealth of wisdom we would have needed at this trying period in our country. My heart goes out to the entire royal family, the government and good people of Sokoto State, and the country.

"Our consolation however is that the 18th Sultan lived a life of service to mankind, his country – Nigeria, and to Allah his Creator. I pray that Allah grant him Aljannah Firdaus and courage for his immediate family to bear the irreparable loss."

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WEDNESDAY, NOVEMBER 16, 2016 • T H I S D AY

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NEWSXTRA

NNPC to Begin Drilling Oil Wells in Chad Basin Early 2017 Implements JV exit model January 1 Records over 1,500 cases of pipeline vandalism in 2016 Ejiofor Alike The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that following the acquisition and processing of over 1,900 square kilometres of new three-dimensional seismic in the Chad Basin, the corporation will commence drilling in early 2017 after evaluating the results collated from the interpretation of the data.

In his keynote address delivered yesterday in Lagos at the 2016 conference of the Nigerian Association of Petroleum Explorationists (NAPE), Baru also stated that the corporation would begin the implementation of the Joint Venture (JV) cash call exit model by January 1, 2017.

The NNPC boss further added that in 2016 alone, the corporation has already recorded over 1,500 cases of vandalism of its pipelines, adding that the cost of repairs was quite mind-boggling.

Baru said the corporation would resume oil exploration activities in some of the inland basins, which include the Chad Basin and the Benue Trough because Nigeria’s neighbours in Niger and Chad had successful commercial discoveries of oil and gas

within their portions of the Chad Basin and have since been producing from these fields.

“There is no need reinventing the wheel. We are now progressing with the use of exploratory techniques that have worked on their own side of the Basin to prove up our side. This will also provide a vista for NAPE and its professionals to further analyse the concept of oil generation, expulsion and entrapment in rift basins which we now know is different from the Niger Delta Basin that we are used to,” he explained.

Baru said by commencing drilling in the Chad Basin, the NNPC would have diversified the country’s production mix and terrain of operation.

He lauded Yinka Folawiyo Petroleum for its successful pioneering efforts in the exploration and development in the Dahomey Basin, adding that the feat has opened up the basin for further exploration and development.

Baru also stated that the chronic JV funding shortfalls being experienced in the industry have resulted in declining JV oil production from about 1 million barrels of oil per day three - five years ago to about 800,000 barrels of oil per day.

“In contrast, production

Nigeria’s Democracy on Course, Says Odinga, Ex-Kenyan Prime Minister Christopher Isiguzo in Enugu

Former Prime Minister of Kenya, Raila Odinga, yesterday in Enugu declared that despite the challenges facing Nigeria, the nation’s democracy had made enormous progress, noting however that the nation’s leaders need to put more efforts in stabilising democracy by opening the democratic space.

The former Prime Minister who made the disclosure in an interview with journalists at Akanu Ibiam Airport Enugu while on his way to Awka, Anambra State to deliver a lecture at the Nnamdi Azikiwe University (UNIZIK), said he was happy with the progress so far made in Nigeria.

According to former Kenyan opposition leader, nobody gave Nigeria the chance to remain as one country after the bloody 30 months civil war.

He expressed delight to see Nigeria making progress as one country.

Odinga particularly expressed satisfaction with the progress Nigeria has made so far in democracy.

“Democracy is not coffee that you brew and drink at the same time. Nigeria has made progress. Nobody believed that

Nigeria will come out of the civil war as one country.

“But with all what we heard during that war, Nigeria came out of it as one country.

After the war, the country experienced long years of military dictatorship.

“I am happy to see Nigeria under civilian rule.

However, you need to open up democratic space,” Odinga said.

On the protest trailing the recent presidential election in United States of America (USA) won by Donald Trump of the Republican Party, Odinga said Americans have spoken through the ballot and the people get the leadership they deserve.

He said there was no need for Africans to fear about the emergence of Trump, adding that “we should look at ourselves in Africa and not depend on others, if we must develop.”

He added that “America needs Africa as much as Africa needs America.

The former Kenyan Prime Minister was later hosted at the Enugu Government House by Governor Ifeanyi Ugwuanyi before he departed to Awka for the Nnamdi Azikiwe memorial lecture.

from the Production Sharing Contracts (PSCs) arrangements where NNPC does not provide the funding for the production has increased almost proportionately to the JV production decline over the same period thereby making the national oil production relatively flat,” he added.

Baru said he was working assiduously with the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu and the Joint Venture partners to see that Nigeria exits the JV cash call system and also clear the funding arrears.

To address the JV funding problem, Baru said the corporation was exploring alternative funding mechanism

that allows the Joint Venture Business finance itself by retaining its operating costs and Capital Allowances (Fiscal Costs) in order to sustain and grow the business.

According to him, “where the fiscal costs for any year are not sufficient to fund the budgetary requirements of the JV, part of the profit margin could be retained to fund the budget and where necessary, external financing could also be sought to finance commercially viable and bankable Capital projects without recourse to government treasury”.

“The import of the above is that the Joint Ventures will relieve government of the cash call burden by

sourcing for its funds for its operations (estimated at $7billion-$9billion annually). In 2016 alone, underfunding of NNPC Cash Calls is estimated to be about $2.5 Billion. This is aside the inherited arrears estimated at over $6 Billion,” he added.

Baru said the JV cash call exit model being pursued would guarantee government most of the revenue that normally accrues to it from the JV operations by lifting the Royalty and Tax Oil upfront.

According to him, this contributes 75 per cent to 85 per cent of the accruable revenues to government.

“Consequently, the effect on government take would be

minimised. We are working assiduously to kick start this from 1st January, 2017,” he added.

He added that in 2016 alone, the corporation has recorded over 1,500 cases of pipeline vandalism.

“What are we doing?

During my visit to the Chief of Defence Staff, a few weeks ago, I informed him of my intention of setting up an all-inclusive Advisory Council on Security mainly to address all security and host community agitations at the Industry level. The Advisory Council is expected to be made up of representatives of key stakeholders,” he explained.

NIGERIA AT ITU

L - R: Executive Vice Chairman, Nigerian Communications Commission (NCC), Prof. Umar G Dambata; Minister of Communications, Adebayo Shittu; Secretary General, International Telecommunications Union (ITU), Mr Houlin Zhao; and Governor of Kaduna State, Mallam Nasiru El- Rufai, at the opening of Nigerian Pavilion at the ITU Telecoms World 2016, Bangkok, Thailand... yesterday.

House Moves to Strengthen Anti-Terrorism Laws Categorises kidnapping, pipeline vandalism as terrorist acts

Damilola Oyedele in Abuja The House of Representatives yesterday passed through second reading, a bill seeking to stipulate penalties for all offences relating to terrorism, and criminalise financing terrorism, in addition to categorising kidnapping and pipeline vandalism as acts of terrorism.

The bill seeks to commit to life imprisonment, convicted terrorists, instead of the 20 to 25 years option prescribed by the current anti terrorism laws.

It further defines terrorism in broader terms to mean a deliberate act of malice, which may cause harm/ damage to a country, its government, economy, international organisations or claim lives.

Sponsored by Hon.

Mohammed Tahir Monguno (Borno APC) and Hon. Ahmed Kaita (Katsina APC), the bill is named as a “bill for an act to make provision for the offences relating to terrorism, prohibit the financing of terrorism and consolidate all acts relating to terrorism and for related matters.”

It seeks to repeal the Terrorism (Prevention) Act 2011 and the Terrorism (Prevention) (Amendment) 2013.

If passed into law, the new bill, would address all concerns in both Acts, and address new situations hitherto not contemplated.

The bill criminalises international terrorism, funds supporting terrorism and seizure of terrorist cash and property involved.

It also contemplates

dealing with charities linked to terrorists, and requests from foreign states and to foreign states on extradition of persons involved in terrorism.

Leading the argument, Monguno said the terrorism Act 2011 did not contemplate the financing of terrorism in Nigeria, which the amended Act of 2013 provided for.

The implication here is that resort is made to two laws on terrorism in Nigeria: the terrorism Act of 2011 and the Terrorism Amended Act of 2013, which make it difficult in terms of use consultations,” the lawmaker said.

Under the proposed law, facilitating escape for a terrorism suspect would also attract a life prison sentence, while sponsors of terrorism would also

bag life imprisonment.

The new law also prescribes punishment for participating in planning terrorist acts, even if the act is not eventually committed.

Section 19 of the bill states, “A person who knowingly, directly or indirectly (a) aids and abets, (b) induces, instigates, instructs (c) counsels or procures another person by means to commit an act of terrorism, commits an offence and is liable on conviction to life imprisonment.”

The bill also classifies kidnapping, pipeline vandalism, and the use of biological or chemical weapons as terrorism. “…Interference with or disruption of the supply of water, power or any other fundamental natural resource, the effect of which is to endanger human life,” it read.

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NEWSXTRA

JAMB Finally Approves Reduction of Cut-off Points with Caveat Fixes Nov 30 as close of admissions

Amby Uneze in Owerri and Paul Obi in Abuja The Joint Admissions and Matriculation Board (JAMB) board yesterday approved the reduction of-cut off points for tertiary educational institutions, giving respective institutions the discretion to adopt their own cut-off marks that is very reasonable.

JAMB Registrar, Prof.

Ishaq Oloyede, stated that the board gave the nod for the reduction of the cut-off marks strictly to institutions that have exhausted their list of candidates with 180 and above in order to create access to students who could reached the cut-off mark.

He explained that JAMB had earlier collated requests from the various Senates and Academic Boards of institutions and had made such plea known to the appropriate authorities.

Oloyede made this known during the Second Technical Committee Meeting on the 2016 Admissions to Tertiary Institutions in Nigeria at the Alvan Ikoku Federal College of Education, Owerri, Imo State yesterday.

He said many institutions which were part of the decision to adopt the 180 minimum benchmark during the 2016-Policy Meeting

chaired by Minister of Education, Mallam Adamu Adamu, were finding it difficult to admit candidates.

Oloyede said a large number of institutions, particularly the budding ones, had applied for a waiver to enable them admit candidates who in some instances scored below 180 marks.

He said: “Just this morning we received a green light on flexible cut-off mark only for institutions which have exhausted the list of candidates with 180 above, subject, of course to a minimum acceptable to JAMB and meeting of other pre requisite.

“Many institutions, though part of the decision, have expressed concern on their inability to effect this cutoff mark as they are finding it difficult to fill a reasonable percentage of their quota if the rule is strictly applied as we insist.

“A large number of institutions, particularly the budding ones, have applied for a waiver to enable them admit candidates who in some instances scored below 180 marks.”

He said the decision to revisit cut off marks for admission needs attention, stressing that, some institutions whether public or privately-owned may soon begin to wobble or even close shops if policy makers continue

to insist on a uniform cut off point for admission.

This development, he cautioned, could be counterproductive and even defeat the federal government’s policy of

expansion of access to higher education and manpower development.

Oloyede maintained that JAMB has reopened its portal for change of institutions and courses so that

institutions and candidates can legitimately effect change of course at the point of entry rather than NYSC- inspired regularisation with attendant abuse.

He promised that the board would cooperate with the various institutions in carrying out the mandates of their respective Senate and Academic Boards on admission matters.

MEETING WITH AVIATION STAKEHOLDERS

L-R: Director, Air Traffic Management , Mr. Hassan Musa; Minister of State for Aviation, Senator Hadi Sirika; and Director of Planning, Research and Statistics, Ministry of Aviation, Mr. Adamu Wakil, at the presentation of the Aviation Roadmap to Industry Stakeholders, by the minister…yesterday.

KOLAWOLE ALLI

FG, N’DELTA PARLEY IN DISARRAY AS AVENGERS BOMBS AGIP, OANDO, SHELL TRUNKLINES “We want the peace with honour, we don’t want the peace of our time. Since that moment military was drafted into the Niger Delta as an instrument of suppression to our fatherland against all peaceful protest and legitimate demands, the fear had gone. The message is getting stronger with more messengers.”

Meanwhile, Bayelsa State Command of the Nigeria Security and Civil Defence Corps (NSCDC) yesterday confirmed the bombing of an oil facility believed to be owned by Nigerian Agip Oil Company (NAOC) in Bayelsa State He said the corps has already launched an investigation into the attack on the pipelines located at Lasukugbene, Southern Ijaw Local Government Area of the state.

The Commandant, of NSCDC, Mr. Desmond Agu, said he got a report that two explosions rocked the pipelines, noting that his men immediately rushed to the scene only to find out that the Egbikiba pipeline was also attacked.

He said the explosion cut the pipeline “riser” adding that the operatives of NSCDC were combing the area to track down the culprits.

Agu said his command had recorded many successes against pipeline vandals

in the state describing the current incident as an isolated case.

“We have been arresting suspected vandals in the state and that is why Bayelsa State has been kept safe from major attacks. We had also foiled many attempts in the past to bomb pipelines. We are investigating this matter to bring the culprits to book.

“We are also warning youths in the state to stop fomenting trouble and to stay away from oil installations. The state and the Niger Delta region need peace to develop,” he said.

Aside the explosion in Southern Ijaw Council, the NDA said earlier that they also struck three other facilities in Nembe .

“At about 11.45p.m.

November 15, 2016, our Elite Strike Team 03 struck Nembe 1, 2 and 3 truck line operated

by Agip, Oando and Shell with supply capacity of 300,000 barrel per day to Bonny export terminal in Bayelsa State.

“This is in response to the so-called “ Operations Sharkbite” an art of terrorism commissioned by the tyranny of the Nigerian Navy establishment.

“This operation is orchestrated by some elements of the ruling political class to continuously undermine any effort by the Nigerian state to addressing the legitimate demands of the people of the Niger Delta

and as well a conspiracy to bloat the accounts of some security contractors and conflict merchants within the party structure of the APC,” Mudock Agbinibo, the group’s spokesman said.

In a statement, Agbinibo said the group was only reiterating its strong resolve that “time is running against the Nigerian government, that there is doom ahead.”

“The Nigerian government needs our cooperation more than we need the government as it concerns the extraction of the crude oil and hydrocarbon resources in our God-given land.

“We are determined to continue this war by all means necessary, until that environment prevails for a genuine dialogue and negotiations within the framework of the sixteen point key demands presented to President Muhammadu Buhari by PANDEF on November 1, 2016.

“We want the peace with honour. Since that moment military was drafted into the Niger Delta as an instrument of suppression to our fatherland against all peaceful protest and legitimate demands, the fear had gone. The message is getting stronger with more messengers,” the NDA boasted.

However, Vice President, Professor Yemi Osinbajo has told a delegation of the Niger Delta Peoples Congress that

putting an end to vandalism in the region is key to resolving the multifarious challenges in the region.

Osinbajo yesterday met with Niger Delta Peoples Congress, (NDPC) at the State House in Abuja.

The group was led by Amanyanabo of Twon Brass, Bayelsa State, King Alfred Diete Spiff.

The group is making fresh demands from the federal government to ensure peace in the Niger Delta.

A source at the meeting informed THISDAY that the vice president told the delegation that the priority first should be to ensure that vandalism was stopped.

The vice president also reminded the delegation that the problems in the Niger Delta region were not created by the Buhari administration but was inherited.

Osinbajo also challenged the elite in the region to rise up and support the peace initiatives being championed by the government.

He was quoted as saying: “If the elite in all regions of the country decide to end the problems in their regions, the problems will be resolved.”

He was also said to have told the delegation that independent producers who are mainly Nigerians also suffered from vandalism.

Two weeks ago, Niger Delta stakeholders, under the aegis of Pan Niger Delta Forum led by Spiff and elder

statesman, Edwin Clark, submitted a 16-point demand to President Buhari.

The Secretary of the NDPC, Professor Benjamin Okaba, said the delegation was not only to re-affirm the plausible submissions made earlier but to also prioritise the concerns and place them in clearer perspectives.

Speaking with State House correspondents at the end of the meeting, two members of the delegation, Mike Oloyebo and Hendricks Okpokeme shed light on the fresh demands.

Oloyebo said: “This is Niger Delta Peoples Congress. King Alfred Diete Spiff and other leaders, about 38-member delegation came again to represent the aggrieved people because you can’t be finding peace without taking into consideration of the problem of the boys in the creeks.

“That is what we have come to inform the presidency and I am very sure the aggrieved people were represented in this meeting and we don’t have any political affiliation to any other group, we have come genuinely concerned to solve this problem once and for all.”

Asked if his group was different from the first one, he said that the mission of the groups are the same towards finding lasting peace in the region.

He said: “The mission is the same, we are trying to

find peace whether we are talking about differences or not, we are all one people.”

On the response of the presidency to the presentation, he said: “It was very positive, we have a president that is very honest with governance and the issues that affect Nigerians and I am very sure that what he told us that the issues are very legitimate and we should go back and try to get a roadmap for permanent peace and that is what we are doing.”

From the meeting, he said that more consultations and interactions would follow, which culminate in a summit.

He said: “We are going to do a stakeholders summit in the Niger Delta in the next one month where every body will be invited to the table to hear what government want to do. So that if we continue to ask government to do things for us, without us stopping the bombing, then it does not make sense.

Asked if the first meeting did not achieve its purpose, he said: “After the first meeting there were a lot of distractions and other issues, we were misrepresented.

The people said we came to ask for oil bloc for ourselves and they came with specific demands and we have come to inform the presidency this is the demand of the aggrieved people.”

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NEWSEXTRA

APC will Lose Ondo without Tinubu, Says Frank Asks court to set aside his suspension

Onyebuchi Ezigbo The Deputy National Publicity Secretary of the All Progressives Congress (APC), Mr. Timi Frank, has said the prospect of his party winning the November 26 governorship election in Ondo State is bleak without reconciling the aggrieved stakeholders.

The candidate favoured by the national leader of the APC and former Lagos State Governor, Bola Tinubu, was defeated by the APC governorship candidate, Rotimi Akeredolu, in a disputed primary election.

Frank, who is battling with the

national leadership of the party and its National Chairman, Chief John Odigie-Oyegun, over his recent suspension, yesterday filed a suit in court seeking to restrain the party from sanctioning him.

Speaking to journalists at a press conference in Abuja, Frank said the party would lose if urgent steps are not taken to arrest the crisis of confidence that has pitched its leaders against one another other.

“If we have to win the election in Ondo State, we have to resolve the crisis that came with the governorship election primary; we have to carry everyone along

Orji Kalu Dumps PPA Former Governor of Abia State, Mr. Orji Uzor Kalu, has resigned his membership of the Progressive Peoples Alliance (PPA), adding that he took the decision after wide consultations with political associates, followers, loyalists and well-wishers.

This was contained in a letter personally signed by Kalu, dated November 14, 2016 and addressed to the National Chairman of PPA. The letter which was made available to the media yesterday, read: “It is with a heavy heart and full of precious memories, profound appreciation and goodwill that I write to inform you of my decision to quit my membership of the PPA. “As a founding member of the PPA in 2006 and a former Chairman of the Board of Trustees (BoT), I have been fortunate to have witnessed first hand, the growth of a party that grew out of the yearning of a people to challenge their intuition and their struggle to determine who govern them and

how they should be governed.

“I gave to the PPA and that struggle the better part of my political life and the time has come for me to say thank you for the opportunity to have served a worthy cause, and to have been your standard bearer as a candidate for the senate of the Federal Republic of Nigeria.

“I must move on now and as Tennyson reminds us, “Though much has been taken, much still abides, and though we are not now that strength which in old days moved earth and heaven, that which we are, we are; one equal temper of heroic hearts, made weak by time and fate, but strong in will. To strive, to seek, to find, and not to yield.

“So today, I officially resign my membership. Thank you and may God continue to guide the affairs of the PPA under your reign as National Chairman.’’

PPA which was founded by Kalu in 2006, produced Chief T. A Orji and Chief Ikedi Ohakim as governors of Abia and Imo States respectively in the 2007 polls.

Justice Hassan Blasts EFCC for Unlawful Arrest, Detention of Fani-Kayode Ejiofor Alike

court bail as far back as July 4 and at the previous court session The Special Adviser on Media and had specifically warned and and Publicity to Chief Femi admonished the EFCC not to Fani-Kayode, who was recently re-arrest or detain the former arrested and detained by the minister after his lawyer told Economic and Financial Crimes the court that that was what Commission (EFCC), Mr. Jude the commission was planning Ndukwe, has stated that Justice to do.

Muslim Hassan of the Federal Ndukwe also stated that High Court, Lagos on November Justice Hassan told the EFCC 14, lambasted the anti-graft that serving charges on an commission and its prosecutor, accused person should not one Mr. Rotimi Oyedepo, in open warrant arrest and detention, court, for arresting the former adding that he (judge) was minister in the court premises once a prosecutor. on October 21, without an arrest Ndukwe noted that when warrant and for detaining him Oyedepo attempted to feign illegally without any detention ignorance of the re- arrest order for 24 days. and detention of Fani-Kayode In a statement released to and attempted to defend the journalists yesterday, Ndukwe EFCC’s action, Justice Hassan also revealed that Justice Hassan advised him to tender his had previously warned the EFCC apologies to the court for not to re-arrest Fani-Kayode who the illegal behaviour of the had been previously detained EFCC. by the commission for 67 days.

According to Ndukwe, According to him, Justice Oyedepo took the advice and Hassan had granted Fani-Kayode he promptly apologised.

and most importantly, we have to reconcile issues with the national leader of the party, Tinubu,” he said.

Frank also said he believed that APC under President Muhammadu Buhari has a lot of good things to offer the people but that such can only be possible if we have a conducive and peaceful environment.

“You can see very clearly that there are issues. Look at the disagreement in the recently organised governorship primary in Ondo State, you can see that when the party leadership went for the campaign, many of the leaders were not there. The national leader of the party was not there because he was out of the country. So we must do everything to put all hands on deck.

“I still appeal to the president to intervene and save the party.

The only thing the president can do to salvage the party is for him to push for the restructuring of APC. I want this party to succeed in 2019 elections and I do not

want members to leave it for any other new platform springing up.

“I still maintain that there is need for the national chairman to resign in order to restore peace in the party. As long as Oyegun is still in office, I bet you that the crisis will remain unresolved.

“If we have to win Ondo State, we have to seek reconciliation, we have to harmonise interests with the leaders that are relevant, that have impact. We must put every measure in place to ensure that the national leader is carried along; nobody can keep him aside because he has so much to offer at this point. Tinubu has shown clearly that he is a true leader of this party and somebody who truly loves this party. For me, I will advise my party to do everything possible to ensure that he is not kept aside.

“Today, it is very clear that he is being shoved aside by certain forces in the party who believe that they can do this job without him, but that is not possible, you cannot do this job without Tinubu. This is why we must

do everything to reconcile these differences rocking the party.”

Frank stated.

According to him, “I said before now and let it not be too late. You can see many realigning moves taken place in the country. It might seem like rumour but things are going on in this country but I don’t want us to create a vacuum that will make our members join forces with other platforms that may spring up any time now.

“Look at the Ondo State elections, we have gone into two major elections and there was no meeting of the stakeholders, and the party never called a NEC meeting. The last NEC that was convened was in February and since then, there has been no other meeting called to deliberate on crucial issue, not the Board of Trustee (BoT), not the NEC and not the national caucus meeting.

“It is very clear that the chairman has truly breached the party’s constitution; so if there is anybody to be suspended in this party, it should be the

chairman and not me, I have not violated any rule of the party.

My offence today is that I have decided to insist on the change we campaigned for and I will not compromise my position.”

On why he sued his party, Frank said he had exhausted all known internal communication avenues to bring to the notice of his grievance. He explained how he had tried to lay his grievances before the party’s leadership, including two letters written in December 2015 and January this year but that he was denied hearing.

As part of his prayers at the court, the deputy spokesman is seeking “an interim order to restrain the respondents, by themselves, committees, officers, agents servants, privies or howsoever called from suspending and/or otherwise taking any other disciplinary action against me as a member of the APC pending the hearing and determination of the substantive originating summons.”

COMING TOGETHER FOR COMMON GOOD

L-R: Investor, 500 Startups Company, Monique Woodard; Founder Ingressive, Maya Horgan Famodu; and Programme Director, GE Lagos Garage, Rich Tanksley, during the GE Lagos Garage Ecosystem leaders’ cocktail, at the Mansard Place, Victoria Island, Lagos....yesterday KUNLE OGUNFUYI

Deputy Governors Refute Primate Elijah Ayodele’s Prophesy on Betrayal of Governors Deputy governors of Abia, Ebonyi, Kano, Sokoto and Taraba States have rejected a prophecy purportedly released

by Primate Elijah Babatunde Ayodele, the Spiritual head of INRI Evangelistic Spiritual Church.

The self-acclaimed prophet had in the prophecy said the four deputy governors would have issues with their principals (governors) before the end of their tenure.

An online news platform had at the weekend published the prophecy in which the cleric made certain wild assertions concerning the future of these politicians.

But in a swift reaction, Deputy Governor of Ebonyi State, Dr

Kelechi Igwe, who reacted on behalf of other deputy governors, described the publication as an outright falsehood designed to create rancour and disaffection in the polity.

In a statement he issued on behalf of his other colleagues, Igwe faulted the cleric on his prediction and accused him of concocting prophecies that had no foundation in reality.

“Ordinarily, we would have ignored this so called prophecy but doing so could create the impression that we believe him or that that he should be taken seriously.

“We make bold to state that this prophecy like the ones before it are fallacies meant to create tension, rancour and unnecessary

friction in the polity.

“We vehemently reject this so called prophesy which in our own estimation is nothing but a figment of the imagination of the man who released it.

“We all have had and still have very good working relationship with our bosses in our various states and do not see any reason for the predicted crisis.

“We urge the government and the good people in our various states to ignore Primate Elijah Ayodele for he knows not what he is saying or doing.

“Primate Ayodele could not have heard from God because he has been in the business of releasing false prophecies at every turn in the politics of

Nigeria and the world.

“It was he who predicted that President Goodluck Jonathan would win the 2015 presidential election; it was he who predicted that Governor Nasir el-Rufai will not win the governorship election in Kaduna State last year and it was the same man who recently predicted victory for Hilary Clinton, the Democratic Party candidate in the just concluded presidential election in the United States,” he said.

Igwe said with the series of failed prophecies emanating from Ayodele, he should be hiding his face from God and the general public, adding that he lacked the credibility to utter any further “gibberish” in the name of prophesy.

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CRIME&PUNISHMENT

22,430 Cultists Renounce Crime, Return 911 Arms, Ammunition in Rivers Amnesty Programme Wike disbands armed vigilante groups Declares war on cultists, kidnappers who refused to embrace amnesty

Ernest Chinwo in Port Harcourt The Rivers State Amnesty Programme Committee has said a total of 22,430 cultists and militants renounced cultism and embraced the amnesty offer of the state government instituted on September 16.

This came as the state Governor, Nyesom Wike, announced the disbandment of all armed vigilante groups in the state and directed security agencies to profile members to ensure they did not belong to cult groups.

Submitting the report of the Amnesty Programme Committee and displaying the arms, ammunition and other items recovered from the repentant cultists before Governor Nyesom Wike at the Government House Port Harcourt yesterday, Chairman of the committee, Hon. Kenneth Chinda, said the cultists surrendered 911 assorted arms, 7,661 assorted ammunition and 147 explosives.

Giving a breakdown of the repentant cultists, Chinda, who is also Wike’s Special Adviser on Amnesty, said 6,985 were of the Icelanders cult group while Greenlanders were 942, Degbam 4,329, Dewell 635 and others 9,539.

He also said arms recovered included six general purpose machine guns (GPMG), 70 AK-47 rifles, 44 pump action, 16 G3 rifles and five K2 rifles.

Others 443 locally-made single barrel guns, 46 locallymade double barrel guns, 266 locally-made pistol, and five pistols, among others.

“Apart from the weapons surrendered, the committee also recovered fetish and ritual materials from the repentant cultists which in their words were very potent and a major covering factor in their criminal activities,” he said.

Chinda said the committee

was successful because it adopted a direct dialogue approach by establishing direct, honest, transparent and sincere contacts with leaderships of the various groups through a discreet confidence building process.

Receiving the report of the committee, Wike announced that all armed vigilante committees in all communities of the state had been disbanded wit immediate effect.

He also directed security agencies to henceforth go after all cultists and kidnappers who refused to voluntarily accept the amnesty offer of the state government, pointing out that his administration has zero tolerance to crime and criminality.

The governor described the state Amnesty Programme as “very successful”, noting that the fact that 22, 430 cultists accepted amnesty and surrendered 911 assorted arms with 7661 assorted ammunitions and 147 explosives has made the state relatively peaceful.

He said: “But to show that government is serious, I hereby disband all vigilante committees in the various communities. I direct the security agencies to make sure that we don’t have such committees except they profile their members to prove that they don’t belong to any cult groups.

“Initially, people felt it was a political game. I thank God almighty that we have proved our critics wrong that we are serious to ensure the security of lives and property in the state. We cannot say that we can totally eliminate crime, but that you and I can sleep very well today, unlike in the past when cultists and kidnappers had a field day.”

Speaking further, the governor said: “For those we have given the opportunity, but they refused to embrace amnesty, I direct the security agencies to go after them. The time for amnesty

Man Remanded in Ekiti for Killing Lover During Sex Romp Olakiitan Victor in Ado Ekiti A 45-year-old man, Oluwatuyi Alake has been remanded in prison custody by an Ado-Ekiti Magistrate’s Court over alleged murder of his lover, Aina Adeyemi.

During yesterday’s proceeding, police prosecutor, Sergeant Monica Ikebuilo, told the court that the accused committed the crime on October 30 at Ojuoro Street, Stadium road at Ijero-Ekiti.

She alleged that the accused on the said date, had sexual intercourse with the deceased which made her unconscious and led to her death.

According to her, the accused later backed and dump the body of the deceased in the bush to

cover up his deed.

She said the offence contravened Section 319 of the Criminal Code, Cap C 16,Laws of Ekiti State. 2012.

Monica added that she had duplicated his case file and sent to the office of the Director of Public Prosecution (DPP) for legal advice.

The plea of the accused was not taken as his counsel, Mr. Busuyi Ayorinde, who sought for a short date of adjournment pending the outcome of DPP’s legal advice.

Magistrate Omolola Akosile consequently remanded the accused in prison custody till the advice from DPP. She adjourned the case to December 15 for further hearing.

is over and we are going to take the war to them.

“Since we have given you the opportunity and you have refused to surrender, you have become enemies of the state and the state will fight to the last to make sure that criminality is reduced to the barest minimum, so that investors will continue to have confidence to invest their funds in this state.

“I wish to tell politicians that you must not politicise crime. If anybody is involved in crime, we must not reduce it to party politics. When somebody is a

cultist, don’t say that that person belongs to party A; that is not fair. We have to fight crime. We have to join hands to bring lasting peace to this state.”

The governor explained that the state government resolved not to monetise the amnesty programme because it wanted the cultists and kidnappers to sincerely embrace the programme. He assured all the repentant cultists and kidnappers that they will be duly rehabilitated and made to become useful to the society.

He said: “We did not exchange

money for the return of arms. It was voluntary. We said, return your arms and denounce any cult group you belong to and we will give you amnesty. All those who have not gone back to crime, be rest assured that nobody will arrest you. But if by tomorrow, you return to crime, know that amnesty does not cover you.”

According to him, “I urge the federal government to give us the support we require for peace to reign in this state. Rivers State is the treasure base of this nation. If there is crisis in Rivers

State, it will affect Nigeria and so for us as a government, we will continue to partner with federal government to achieve zero tolerance to crime. We will not support crime. It doesn’t matter the political divide. If you are involved, you will face the law.”

Wike set up a seven-member state amnesty committee on September 16, with membership drawn from the Nigerian Army, the Nigerian Navy, the Nigerian Police and the Department of State Services (DSS).

VIGILANT OFFICERS

Customs Area Controller Oyo/Osun Command, Mr. Tolutope Okunkua (left), and his deputy, Mr. Abdulsalan Hassan, showing an arrested bullion van used in smuggling rice in Ibadan...yesterday

Court Remands 54-year-old Three Cops Detained for Man for Allegedly Raping Killing Colleague in Bayelsa Two Minors Emmanuel Addeh in Yenagoa of Ondewari community in Yekini Jimoh in Lokoja A 54-year-old man, Segun Adisa, was yesterday remanded by a Lokoja Chief Magistrate Court for allegedly raping two minors in a toilet.

According to the Police prosecutor, Sergeant Tuesday Ganagana, the case was reported on October 26, 2016, at ‘A’ Division Police Station in Lokoja by one Hassana Mohammed, mother of one the girls allegedly raped.

Ganagana told the court that the enraged mother, Hassana, living at Opposite Crowther Memorial College, Lokoja, reported that the alleged rape was took plae on October 22 at about 3p.m.

The prosecutor said while the girl, 13, (name withheld) was hawking sachet water and ‘Zobo’ drink near Lokoja township stadium, Adisa called her under false pretense that that he wanted to buy the Zobo.

The policeman further alleged that the accused violently dragged her into a toilet and forcefully had carnal knowledge of her

without her consent.

Ganagana said the accused was also alleged to have deceitfully called another girl (age and name withheld), who was selling kola nuts at the stadium.

Under the pretext of buying the kola nut, the accused was alleged to have dragged the girl to a toilet and forcefully had carnal knowledge of her.

Counsel to the accused, Salihu Abdulmalik, applied for his bail pursuant to Section 36(5) of the constitution and section 341(2 and 3) of the Criminal Procedure Code (CPC) and ‘’the inherent discretionary powers of this court.’’

The prosecutor, Ganagana, however objected to the bail of the accused, saying Section 283 of the Penal Code stipulates sentence of life imprisonment upon conviction aside the fact that the case was still under investigation.

Levi Animoku of Lokoja Chief Magistrate Court I said in view of the gravity of the alleged crime coupled with the punishment awardable, “the propensity of the accused standing his trial is slim.

Three policemen have been arrested in connection with the shooting of their colleague over a N20,000 ‘gift’ in Bayelsa after offering security services during a funeral service.

The deceased, Mr. Salvation Adaka, a Police Sergeant attached to the Agudama-Epetiama Divisional Command, Bayelsa State, was reportedly shot dead during an argument over the sharing of the largesse.

Family of the deceased police Sergeant led by Morris Alagoa, in a petition, said the deceased policeman was shot dead at close range by colleague.

The assailants attempted to dump the victim’s corpse in a bush before their plan was thwarted by the Indigenes of the community who raised the alarm, the family alleged.

The family of deceased in the petition signed by Mr. Morris Alagoa, said the disputed money, which led to the killing of the deceased, was not a bribe,”but an appreciation for the security provided during the peaceful night burial ceremony held in Obunagha community.”

Adaka, who is an indigene

Olodiama clan of Southern Ijaw Local Government Area of the state, the family said, insisted that the money should be taken to the station before being shared.

“Preliminary investigation by the families showed that the deceased and his colleagues spent a reasonable time within a wake-keep environment in Obunagha community and as they were leaving, they were given N20,000 in appreciation of their presence at maintaining peace and order.

“Being the most senior, the money was handed to him but the colleagues insisted on sharing the money.

“Salvation Adaka insisted that they wait until they get back to their station before sharing the money.

This was confirmed by the DPO at the Agudama-Ekpetiama Police Station.

“Sadly, between Obunagha and Gbaraine-Ubie Integrated Gas Plant, he was shot at close range. They attempted to hide his corpse in the bush before they were discovered by passersby, including the Chairman of the IYC, Ekpetiama clan.”

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Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Falconets in Make or Mar Clash with Canada Duro Ikhazuagbe After getting their campaign off on a worrying note, succumbing to a 6-0 bashing from Japan, Nigeria’s Falconets will today clash with Canada in a game to determine their continued stay at the ongoing FIFA Under-20 World Cup in Port Moresby, Papua New Guinea.

Already, team’s gaffer, Peter Dedevbo has promised to make three key changes in the starting line -up today. It is expected to look different as Sweden-based Christy Ohiaeriaku takes up the gloves in place of first choice keeper and Captain, Sandra Chiichii, who is being rested for the game.

Midfielder Ihuoma Onyebuchi, who came in for Patience Kalu against Japan, will get a starting role, while midfielder Joy Bokiri who sat out the opening match, completes the changes expected in the squad. Other players including Ugochi Emenayo, Chinwendu Ihezuo, Yetunde Adeboyejo and Chinaza Uchendu retained their starting places in the team.

Dedevbo has reassured Nigerians that the changes will pay off positively, insisting that the adjustment is geared towards getting the points to keep hope alive in the tournament.

“The focus right now is on how to pick the maximum points against Canada. The line-up will change and most of the mistakes of the first game have been corrected. I remain optimistic that we will do a good job.”

The team took time off from training Tuesday evening to study the video clips of the game between Canada and Spain, which ended in a 5-0 win for the Spaniards.

Meanwhile, Nigeria’s Falconets yesterday evening joined millions of sportsmen and women around the globe in issuing red card to violence through the #ENDviolence campaign.

The #Endviolence campaign, which has been going round the camps of the 16 countries participating in this year’s FIFA U20 Women’s World Cup in Papua New Guinea, seeks to raise awareness and create sporting champions who will speak up against violence towards

Falconets yesterday joined the rest of the world in the Endviolence campaign women and children.

The filming of the campaign done by the poolside of the Crowne Plaza hotel, saw Falconets players’ chanting: “Be a champion, speak up against violence!” and then raising the red card with the #ENDviolence hashtag to the camera.

Three Falconets players, namely Chinwendu Ihezuo, Rasheedat Ajibade and Sandra ChiiChii, were selected to speak on other topics condemning violence before flashing the red card to the camera.

Ihezuo picked “Help us end violence”, Ajibade chose “Each child has the right to grow up without violence”, while ChiiChii ended the filming with the message: “We support same right for boys and girls.”

The red card campaign sees footballers as role models that have powers to make the invisible, visible and end violence against children and women in every form throughout the Pacific and around the world.

Akwa Ibom Govt Demands $300,000 Refund from Pele Iconic Brazilian football legend, Edson Arantes do Nascimento (a.k.aPele) has been asked by the Akwa Ibom State Government to refund a $300,000 (more than N135 million) appearance fee paid him after he failed to grace the opening of the Godswill Akpabio International Stadium in Uyo two years ago.

The 30,000-capacity stadium, which at the weekend played host to Nigeria’s 2018 World Cup qualifier against Algeria, was opened by then Nigerian President, Goodluck Jonathan, on November 7, 2014, with King of Football Pele billed to appear at the elaborate event.

However, the legendary Pele did not grace the occasion even after his agents received a $300,000 payment because there was a shift in dates for the opening of the multi-million dollar sporting edifice nicknamed ‘The Nest of Champions’.

A top source informed AfricanFootball.com that oil-rich

Akwa Ibom Government has since been demanding that the appearance fee be refunded and so far their efforts have come to nought.

“The Akwa Ibom Government wants the cash back, but so far all efforts have proved abortive,” the source said.

“The government want all the $300,000, but some experts in the business have advised they should angle for a part of this sum.

“Pele’s people have continued to insist they were not the ones who breached the agreement and so they could not be liable.

“And that by the time a new date for the opening of the stadium was fixed, their client was committed to another engagement.”

Many years after he retired from the game, three-time world champion Pele has cashed in on his charisma to rake in millions of dollars through special guest appearances around the globe.

Siasia Rates Iwobi One of World’s Best Young Players Former Super Eagles handler, Samson Siasia, who gave Alex Iwobi his first chance with the Nigeria Olympics team, has hailed the Arsenal youngster as one of the best young players in the world.

He is equally amazed by how fast Iwobi has grown from playing in the second team of Arsenal to now a full international with Nigeria within a short time.

His rainbow flick made

against Algeria last Saturday by Iwobi compares to the tricks his uncle, Austin ‘Jay Jay’ Okocha, pulled off in his playing days and remains a talking point several days after.

“When I first saw him, he had good touches but being his first time in Nigeria after a long while, you could not see the best of him,” Siasia narrated.

“We needed him to understand the kind of system in Nigeria and now see what

he has turned out to be – one of the best young players in the world.”

He added: “I am amazed with the rapid growth of Alex.

“It has been a great transition for him. He is now a star at Arsenal playing with a lot of confidence. Two years ago, nobody knew who he was as he was playing in the Arsenal second team,” recalled Siasia who led the Dream Team VI to Nigeria’s only bronze medal

at the Rio2016 Games.

Arsenal did not release Iwobi for the Rio Olympics but he has since cemented his place in the Super Eagles.

Siasia said Iwobi senior should take a lot of the credit.

“Kudos must go to his dad, who did everything for Alex to be where he is today,” he said.

“If it weren’t for his father, Alex would not have played for Nigeria to start with,” revealed Siasia.

FC IfeanyiUbah Appoints iGamingSports.com to Help Promote Nigerian Football Newly crowned 2016 Federation Cup winners, FC IfeanyiUbah, has selected the UK-based agency iGamingSports.com, to help raise the international profile of Nigerian club football.

The appointment comes after iGamingSports.com helped broker the partnership between FC IfeanyiUbah and West Ham United, in a move that saw the club become the Hammers’ first ever Nigerian Football Partner, and has already seen the launch of a number of key initiatives designed to improve coaching,

skills and grassroots football in Nigeria.

“There isn’t a footballing talent pool in the world that’s deeper than Nigeria,” said Managing Consultant for Africa & Asia at iGamingSports.comand the former First Secretary to the British High Commission in Nigeria, Peter Stephenson OBE. “Couple that with the levels of drive and ambition that have been exemplified at FC IfeanyiUbah, and you have a potent combination that could be incredibly exciting on the global footballing stage.”

With a roster of current Nigerian stars in the EPL such as Kelechi Iheanacho, Alex Iwobi, Odion Ighalo, Victor Moses, John Mikel Obi, Ahmed Musa and Isaac Success - Dr Patrick Ifeanyi Ubah, owner of FC Ifeanyi Ubah and Managing Director/ CEO of Capital Oil and Gas Industries Ltd, still believes there is work to be done.

“We want to raise the game and increase opportunities for our Nigerian youngsters,“ said Dr Ubah. “Every boy and girl in Nigeria that aspires to play football must to be given

the opportunity and we want to show the world that the domestic football in Nigeria is very much on the up. Our partnerships with West Ham United and iGamingSports. com provide us with the tools to learn from the best, and are a catalyst to enhancing awareness of our wonderful national game in Nigeria.”

“We’re privileged that FC IfeanyiUbah has chosen us to represent them and excited to show what Nigerian football has to offer,” said Peter. “It’s time to tell the world that Africa has arrived.’

Eze Wins Second First Bank Lagos Amateur Open Title The 55th in the series of the First Bank sponsored Lagos Amateur Open Golf competition came to a thrilling end at the golf section of Ikoyi Club 1938 on Sunday with Monday Eze emerging the tournament’s overall winner.

To come top in the keenly contested event, Eze grossed a two-day score of 151, to win the competition by three-shots.

The victory was the second for the Ikoyi club-based amateur golfer.

The first came in 2014 when he edged Milo Ajah for title. He narrowly missed 2015 edition before fighting back to claim the 2016 edition, which is his second First Bank Lagos Open trophy.

The 25-year old Eze in his victory speech thanked the tournament sponsor, First Bank, for the opportunity to showcase his skill while saying that he will forever cherished the opportunity.

Abuja based Johnson Okoh was second in the competition after grossing 154-over two

days, while Goodsmark Isife, former Junior champion, came third in the competition. Isife carded an opening 79 and closed with 77, to come third.

Tournament defending champion, Uche Eze came fourth while 2014 runners-up Ajah duck in the fifth position.

Other winners in the competition are Yusuf Sunday, who won the best net category, Chris Obije who won the gross on day two, Gloria Joel, winner guest ladies and Evelyn Oyome, runner-up, guest.

Peter Eben-Spiff won prize

staked in the Longest Drive on hole-1.

Satisfied by the turnout of the event, the Managing Director and Chief Executive Officer, First Bank of Nigeria limited and Subsidiaries Dr. Adesola Adeduntan pledged the Bank’s continuous support for the game, saying First Bank is proud of its notable partnership in the sports arena.

Apart from the course action there were also golf coaching clinics anchored by a visiting professional from the United Kingdom, Alex Rowland.

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F1: Hamilton Shows Class in Brazilian Grand Prix “Not too bad, huh?” Lewis Hamilton said on the podium after winning the Brazilian Grand Prix last Sunday. You can say that again.

The 52nd victory of the Mercedes driver’s career kept the title fight alive for a final-race showdown in Abu Dhabi in two weeks’ time. Rosberg will start that race as a strong favourite to become world champion. But a chaotic, crash-strewn race at a treacherously wet Interlagos emphasised the gulf between the two men.

Rosberg takes a 12-point lead to the Yas Marina circuit and to clinch his first world title needs to finish only third there even if Hamilton wins.

Statistically, there is not much to choose between the two Mercedes drivers this season - they have nine wins each; Hamilton has 11 poles and Rosberg eight.

But on days like Sunday in Brazil, there is no doubt who is the great driver and who the very good one.

Hamilton was in a league of his own in conditions of extreme difficulty, untouchable even by an inspired Max Verstappen. The world champion was the only driver the television cameras did not catch making a mistake of one sort or another, all while driving at a speed beyond the reach of his rivals.

Rosberg drove a very solid race, and survived one scary moment when he very nearly stuck the car in the wall accelerating through the kinks early in the pit straight.

Had he not held that, the race would have seen the big turnaround in points that Hamilton needed to get properly back into the title race.

As it is, he will almost certainly need a mechanical problem on Rosberg’s car in Abu Dhabi to win a fourth world title.

When Hamilton gets over the immediate euphoria of finally winning the Brazilian Grand Prix, where his childhood hero Ayrton Senna was held as some sort of demigod by the local populace, he may curse the fact that the crazy race he needed finally arrived but Rosberg managed to negotiate his way through it.

But for now, Hamilton will doubtless be revelling in his superiority. Adding up the gaps he built over Rosberg in this staccato race that veered between tedium and extreme drama, it comes to 36 seconds in total. Or half a second a lap on average. His real advantage was possibly even bigger than that, at least if we are to judge by the 18.5-second lead he established in the 15 racing laps before the final safety car period.

“It’s never easy but I didn’t have any mistakes for sure,” Hamilton said. “When you make mistakes it

really hurts and I was more focused than ever and there was never going to be a moment I made a mistake.

“To win this, it has been a grand prix I have always wanted to win since I watched Ayrton win here in 1991. It has taken me a long time to get here and it is a historic day for me. To stand on the podium in Brazil where Ayrton was so loved was really special.”

On days like this, it is in some ways hard to believe that Rosberg, not Hamilton, is likely to be world champion this year.

This is, in large part, down to the off-set in the reliability records between the two. While Hamilton has had three engine failures affect his points total, including the one while he was leading in Malaysia which will probably turn out to be fatal to his title hopes, Rosberg’s season has been virtually trouble-free.

The German’s only technical

problems have been a gearbox glitch in Silverstone that ended up dropping him from second to third and a five-place grid penalty for a gearbox change in Austria, which ended up hurting him not at all the way the strategy played out.

Rosberg’s only non-finish was as a result of the crash he and Hamilton had together on the first lap in Spain, which took them both out.

Hamilton pointed this out after the race for the umpteenth time this year. He also pointed out on Saturday that his 11-8 pole advantage over Rosberg comes even though he has not actually competed in three qualifying sessions because of those engine problems.

“I feel like I have been my strongest this year,” Hamilton told BBC Sport after the race. “There were a couple of things that really got in the way.

“Nico has finished every race this year apart from Barcelona, has qualified every qualifying session and three I was not even able to take part in.

“The fact we have had these problems and we have really pulled together, I am so proud of everyone. It is what racing is about and I am just enjoying the moment and living on top of the world right now.”

And yet there are some things that Hamilton may rue when he looks back on and analyses 2016 after the end of the season.

While reliability has definitely cost him the championship lead, it is also true to say that his position is partly of his own making.

Two races stand out for the wrong reasons for Hamilton this year. He drove erratically in qualifying in Baku, where he was stunningly fast but eventually crashed after making a series

of mistakes. And he had an uncharacteristically poor weekend in Singapore, where people close to him say he “just didn’t turn up”.

With better performances on those two street tracks, he would be potentially going to Abu Dhabi with at the very least the knowledge that a win would make him champion, and perhaps even with a points lead.

Just like reliability problems, though, these things tend to be part of the game in F1 and drivers have to live with them.

If Hamilton was sublime in the lead, there was an equally stellar drive from Max Verstappen The Dutchman was scintillating from the start, quickly grabbing third from Kimi Raikkonen when racing got under way and then pressuring Rosberg until passing him mid-race after a restart with a superb move around the outside of Turn Three.

West Africa Golf Tour to Host Nigeria Masters in Abuja Olawale Ajimotokan in Abuja The Inaugural Nigeria Masters will take place from 17 to 20 November 2016 at IBB International Golf and Country Club in Abuja.

A maximum field of 72 players will compete in the tournament to be played over 72 holes. The format will be stroke play The prize money for the tournament is 25.000 dollars and the winner will take 4.000 dollars The tournament is proudly sponsored by FORTIS Micro Finance Bank.

The leader of the Order of Merit, and the two-time winner of West Africa Golf Tour, Andrew Odoh, will be returning from South Africa ,where he has been competing on the Sunshine Tour, to participate at the Nigeria Masters.

Eight of the top 10 players of the Order of Merit have also confirmed their participation in the event.

This tournament will be the last opportunity for players to qualify for the West Africa Golf Tour Championship to be staged in December in Owerri.

Sports Editors Guild Hails Falode’s Appointment Congratulates Olajire, Obi The umbrella body of sports media leadership in Nigeria, The Sports Editors Guild has saluted the Nigeria Football Federation (NFF), over recent appointments made by the body especially that of the Chairperson of the Nigeria Women’s League, Aisha Falode.

Falode was on Monday appointed the Chairperson of the Nigeria Women’s Leagues with Ms Nkechi Obi to serve as the Chief Operating Officer, while Mr Ademola Olajire was promoted Ag. Director of Communications by the NFF. President of the Sports Editors’ Guild, Tony Ubani, said in a statement said that with the appointment of Falode, the body was sure that women’s football in Nigeria will witness a drastic transformation of immeasurable proportion especially in the area of corporate governance and support.

“We acknowledge past

leadership of the women’s league and they also gave their all and did their best but here we are with one of us, a journalist of repute given the mantle to redefine women’s football in Nigeria, we must thank the NFF leadership of Amaju Pinnick for this stance and we are certain that Falode will not disappoint going by her antecedent”.

Ubani while also thanking the NFF for the appointment of Obi and Olajire declared that it has become obvious that the media can and is ready to play a pivotal role in rediscovering the great days that Nigeria was a true giant in African sports.

“We trust that our esteemed colleagues who have been so appointed to these exalted seats won’t let us and indeed Nigerian football down, what we seek for them is support from all and sundry”.

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Nicola Sturgeon to Donald Trump

“I hope the president-elect will take the opportunity to reach out to those who felt marginalised by his campaign and make clear – in deeds as well as words – that he will be a president for everyone in modern, multicultural America. Today must also be a moment for those who share progressive values – all of us who believe in tolerance and diversity – to speak up loudly and clearly for the values we hold dear” – Scottish first minister in her message to the American president-elect.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

America’s Different Election I Still a Moral Leader?

n no way could the last week election of Donald Trump as the president of the United States of America be called a tribute to liberal democracy. The months of campaigns preceding the unusual election witnessed an egregious debasement of the much-advertised liberal democratic ethos of the West. And let no one say that the shocking outcome of the election is only the business of the U.S. America has not been minding its own business alone. With the emergence of Trump, America has lost his claims to moral leadership of the world. A nation having as its Commander-in-Chief a racist, religious bigot and misogynist, at once, cannot be universally accepted as a moral and political leader. America’s unsolicited lectures about liberal democratic values, decent elections, freedom, globalisation, civility, humanity etc. will henceforth loose some audience around the world. After all, if you ask the American troops deployed in parts of the world what their business is at their posts, they would readily tell you they are there to promote “democracy and freedom.” As the African Legend, Fela Anikulapo-Kuti, would put it, the rest of the world (especially the emerging liberal democracies) might soon be telling America that “teacher, don’t teach me nonsense.”

Not Yet the End of History Perhaps the huge decline in American politics would be better appreciated if this uncertain moment in U.S. history is contrasted with the triumphalist mood in the West 24 years ago when Francis Fukuyama published his famous book, The End of History and the Last Man. In a moment of intellectual hubris, Fukuyama declared victory for liberalism in the great ideological battles of the last century which came to a climax post- World War II. According to him, the apogee of political culture had been reached in liberal capitalist democracy.

The book came out of the press amidst the ferment of “democratisation” across the globe. The Berlin Wall had fallen to the shock of communists. Soviet Union had become history. The bloody event of Tiananmen Square had happened in China three years earlier. American experts and consultants flooded Eastern Europe and even Russia itself marketing their model of liberal democracy.

In this age of Trumpism, it could be safely said that it is not yet the end of history. And this is certainly not the best of times for liberalism. For a long time thinkers would continue to ponder the import of what has happened to the U.S. To be sure, thoughts would be generated on an American electoral season at the end of which street protests erupted in an unprecedented fashion.

The Surprise of Bernie Sanders If Trumpism is the different thing thrown up by the election on a reactionary note, the intervention of Bernie Sanders is surely the progressive story of the election. Boldly articulating his “democratic socialist” agenda, Sanders emerged a front-runner for the Democratic Party ticket. Indeed, Hillary Clinton had to wrestle with him ideologically

Trump for the ticket. His manifesto of “an economy that works for all, not just the very wealthy,” was received with noted enthusiasm within the Democratic Party. He spoke of socio-economic justice, humanness, job-creation, climate change and fairness in taxation. He proposed a “Plan to Re-build America” with a massive investment in infrastructure. A man of Jewish descent, Sanders supports a two-state solution to the Israeli-Palestinian conflict, saying that the Palestinian “deserve a state of their own.” A good percentage of his supporters were drawn from the generation born after fall of the Berlin Wall. Many young Americans could hear a message of hope in the campaigns of the 75-year old Sanders. Doubtless, Sanders has ideologically widened the frontiers of progressive politics in America. During the campaigns, Sanders courageously waged a war of ideas against the widening social inequality plaguing America. Four times, a famous Marxist, Gus Hall, contested American presidency on the platform of the American Communist Party. But before Sanders came to stage, the social-democratic agenda had never been so popularised in American politics. While Trump was busy poisoning the polity with hate speech, Sanders ennobled American politics with a tonic of progressive ideas. Now, that is historically significant.

For Hillary Clinton, A Consolation Prize All lovers of gender-equity had expected that America, “the land of possibilities,” would record another positive history with a female president in a clear-headed and policy-literate Hillary Clinton.

That was expected to be a fitting follow-up to the election of the brilliant Barack Obama as the first black president in 2008. American institutions are busy funding advocacy groups in other lands promoting gender-equality as part of liberal democratic culture. American politicians are wont to lecture other peoples on the place of women in politics. Some of these recipient countries cannot claim to be on the same level of development in liberal democracy as America.

Yet some of them have produced female heads of state and heads of government. Sri Lanka

(formerly Ceylon) produced 56 years ago Mrs. Sirimavo Bandaranaike as prime minister while Mrs. Indira Gandhi first became prime minister of India 50 years ago. It is almost 30 years that Benazir Bhutto became prime minister of Pakistan.

Yet some American feminists would not mind teaching Indians, Pakistanis and Sri Lankans about gender-equality. One of the shocks of the campaigns was the vicious attack on Mrs. Clinton by some women who simultaneously rationalised the videos showing Trump insulting the female gender. Senator Clinton has made a loud statement even with the loss of the election despite wining the popular vote. On July 4, 1776, the founders of America declared their nation independent proclaiming that, “all men are created equal.” It was not until 144 years later that women’s right to vote became legal nationally with the 19th Amendment to the U.S. constitution on August 18, 1920. All the 44 American presidents have been male. Mrs. Clinton has gallantly lost the bid to be the 45th President. If it took 144 years for women to secure suffrage as men in that “land of democracy and freedom,” Mrs. Clinton should take solace in the fact that she was at least the first female presidential candidate of a major political party. Maybe the 50th American president would be a woman. Such a woman would then read the history that once upon a time a lady called Hillary Clinton inspired millions of American women and men with her spirited campaign for the presidency of her country. As they say, American women would get there someday.

The Factor of Russia Still talking about a different election, former American president, Ronald Reagan, must be turning in his grave about another development.

It was only in an unusual election that 33 years after Reagan infamously called the old Union of Soviet Socialist Republics (USSR) an “evil empire,” that the factor of Russia would loom large in the election of the U.S. president. Russia was the largest and dominant republic in the defunct USSR. More intriguingly, the candidate of the same Reagan’s Grand Old Party (GOP), the Republican Party, would express admiration for a former KGP (secret police) cadre turned Russian president, Vladimir Putin. At least, the Democratic Party has alleged that Russian agents hacked into the email of Candidate Clinton and that the agents engineered the leaks, which wreaked havoc on the Clinton campaigns. Clinton made this categorical allegation during the campaigns. But American state agents ignored her. The received wisdom of American politics is that the farther right a politician is on the ideological spectrum, the more Russia is perceived as a mortal enemy. But a highly influential Russian newspaper reported the victory of Trump as follows: “In Trump We Trust.” Is Putin being cynical of Trump? Time will tell if indeed there is a genuine synergy of purpose between Putin and Trump. For now, another outcome of the different election to watch is the Trump-Putin alliance. It would also be interesting to know the target to which the alliance would be directed. China could be ruled out as a target because there is already a

strong Sino-Russia cooperation away from the Western orbits.

When a Trump Speaks for the Working Class

There is yet one point to ponder in the unusual nature of the election. A loud voice from the extreme right claims to be the champion of the “working class.” It is the voice of Trump, a capitalist who could not be accused of being the champion of even business ethics in his relationship with fellow capitalists. It is the voice of a man who takes pride in out-smarting the tax authorities. When the transatlantic alliance of President Ronald Reagan in America and Prime Minister Margaret Thatcher in Britain “defeated” communism, the coast became clear for a borderless advance of global capitalism, euphemistically called globalisation. America has led the West in championing globalisation in the last quarter of a century. Now, the outcome of globalisation is grim. Globalisation has widened inequality between classes and nations. More than two-thirds of humanity are not partakers of its benefits. It has created what development activists now call the 1% problem, a new situation in which one per cent of humanity owns more of the global wealth than the rest 99 per cent. The ravages of globalisation are now felt even in the U.S., the richest country on earth, in the form of job losses, stagnant incomes, homelessness, and shameful lack of social safety net. There is a universal rage against globalisation. This rage first became conspicuous with the activities of the Occupy Movement and anti-capitalist protests in western cities. The rage is on among the American working class.

Opportunistic populists are taking advantage of the anger of the poor in the metropolitan centres of capitalism by giving them a false voice. They pervert the anti-globalisation movement by attacking immigrants. The right wing extremists in the West cannot see the contradiction of a globalised world in which human beings cannot move freely. The false voice came in June in Britain as Brexit. Now Trump has emerged as the false champion of the American working class.

Incidentally, the same celebrated American political scientist, Fukuyama, who has been proved wrong on his projection of liberal capitalist democracy by history, almost predicted what happened in America last week. In his 2014 book, Political Order and Political Decay, ”Fukuyama identified the decay of the American political system: “Decay by definition is occurring in the United Stats today, and is the result of the intersection of two forces. On the one hand, American society has changed. It has become more polarized and class-ridden; Americans are sorting themselves out residentially in ways that make it easier for politicians to appeal to ideologically pure positions on the left and right. At the same time, there has been a huge increase in the number and sophistication of on interest groups, which have been liberated from constraints on their rights to spend money on political campaigns by a series of Supreme Court decisions.”

All told, a different question to ponder is this: has globalisation come to a dead end with the Trumps of this world?

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