Monday 19 December 2016

Forbes Names Dangote, Putin, Others Most Powerful Persons in the World Foremost entrepreneur and President of Dangote Group, Aliko Dangote, was at the weekend named along other world leaders including Russian President, Vladimir Putin, American Presidentelect, Donald Trump and German Chancellor, Angela Merkel, as the most powerful persons in the world.

These personalities were

T H I S D AY S P E C I A L R E L E A S E ranked along with 70 others, with Dangote ranked as the second most powerful on the African continent.

The Nigerian business mogul has constantly

featured in the list since 2013, when he was listed as the only black African so rated by the U.S.-based Forbes magazine on the list of 100 most powerful

persons in the world.

Listed as the 71st most powerful last year ahead of the American President-elect, Dangote, Africa’s richest man, moved up the ladder of influential people to come in as the 68th most powerful in the world at

the weekend, after only Egyptian President, Abdel el-Sisi, who was adjudged the most powerful in Africa and ranked 44th in the world.

Forbes in the latest edition of its 74 World Most Powerful People ranking list,

20 Killed in Taraba Ethnic Clash… Page 12

indicated that the 64-year-old Putin was the most powerful in the world, ahead of Trump who was second on the list.

Ms. Merkel was ranked the third most powerful person in the world while outgoing U.S. President, Barack Obama placed 48th on the list.

Continued on page 8

Monday 19 December, 2016 Vol 21. No 7914. Price: N250

www.thisdaylive.com TR

TODAY'S WEATHER

ABUJA 16°C-33°C

MAIDUGURI 15°C-35°C

UT H

& RE A S O

ENUGU 22°C-34°C

N

KANO 11°C-33°C

LAGOS 23C-31°C

PORT HARCOURT 20°C-30°C

Presidency Alerts Senate of Cabinet Shake up Next Month 10 ministers may be moved as Buhari quietly shops for Lawal’s replacement as SGF Olawale Olaleye in Lagos and Omololu Ogunmade in Abuja The presidency has reached out to the Senate informing it of its intention to carry out a cabinet shake up that may affect no fewer than 10 ministers in the federal cabinet early next year,

THISDAY learnt last night.

An impeccable source told THISDAY that the presidency had decided to give the Senate the heads up on the imminent sack of some ministers and their replacement with Continued on page 8

…President Orders AGF to Investigate Top Government Officials Tobi Soniyi in Abuja Against the backdrop of mounting corruption allegations against some top officials of his government, President Muhammadu Buhari has directed the Attorney General of the Federation and Minister of

Justice, Mr. Abubakar Malami (SAN), to investigate the involvement of any of the officials.

A two-paragraph statement issued by the president’s media aide, Mr. Garba Shehu, said: “The attention of the Continued on page 8

Aero Contractors to Resume Flights Wednesday… Page 8

L-R: Minister of Defence, Mr. Mansur Dan; the German Minister of Defence, Ursula Von Der Leyen; and Minister of Health, Prof Isaac Adewole, when the German government donated a mobile medical care unit to the Nigerian Armed Forces, in Abuja… yesterday

2

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

3

4

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

5

6

MONDAY DECEMBER 19, 2016 T H I S D AY

Enjoy great discounts with Fidelity Bank Cards. Visit https://ďŹ delitybank.ng/greendiscount to learn more.

RC 103022

T H I S D AY MONDAY DECEMBER 19, 2016

7

MONDAY, DECEMBER 19, 2016 ˾ T H I S D AY

8

PAGE EIGHT

Aero Contractors to Resume Flights Wednesday Chinedu Eze Nigeria’s oldest airline, Aero Contractors, has said it has concluded plans to resume flights on Wednesday.

The airline, which stopped scheduled services on September 1, 2016, due to lack of funds and its inability to pay for the maintenance of its aircraft, said it would resume

operations with a few flights.

It plans to resume flights with two Boeing B737-500s and one Bombardier Dash 8-300, but within a week would deploy two more Bombardier Dash 8-300s to bring its fleet to five aircraft.

The airline is resuming flights at a time the domestic market has been hamstrung by foreign exchange scarcity

leading to the grounding of several un-serviced aircraft.

As a result, airlines can barely meet passengers' demand, which has been characterised by flight cancellations and delays.

The situation has also further been exacerbated by inadequate supply of aviation fuel, known as Jet A1, currently priced at N240 per litre.

An informed source from the airline told THISDAY that labour issues, which delayed the airline’s resumption of operations had been resolved and the major condition given by the Assets Management Corporation of Nigeria (AMCON) that the company must restructure, was being met.

This means that Aero will lay

off some workers, a plan that has received the tacit agreement of labour and, according to the source, Aero Contractors over time would bring back all of its aircraft comprising six Boeing B737-500s and three turbo props Dash 8-300s.

“We plan to resume on Wednesday but it is work in progress. We intend to start gradually then ramp up.

“We already have two Boeing B737-500s and one Dash 8 on the ground but we hope to get two more within days.

“We have resolved issues with the unions. We are going to bring all our airplanes back over time.

“We have agreed to restructure, which is the condition given by AMCON,” the source said.

Senate last week called for his resignation and probe.

In his reaction, Lawal, however, dismissed the report of the Senate that indicted him, stating that the senators were “talking balderdash”.

Following the indictment, one of those being touted as a likely successor to Lawal is the current Minister of Agriculture, Chief Audu Ogbeh, who was originally penciled down for the post but was edged out due to a report which claimed he had huge unsettled debts.

Presidency sources informed THISDAY that those who wanted Lawal in place of Ogbeh had cooked up the debt report to discredit him for the office, but that the president has since discovered that the report was actually doctored to disqualify him.

With Lawal now considered damaged goods, Ogbeh’s name has resurfaced and may come up again for the post of SGF, if the president finds a better replacement for him in the agriculture ministry.

Lawal was also said to have been marked down for replacement some three weeks ago because of his alleged meddling in the Ondo governorship election considered to have been inimical to the interest of the president, especially now that there appears to be cracks within the ranks of the All Progressives Congress (APC).

Lawal was believed to have done himself in when the deployment of security personnel relevant to the Ondo election were effected.

Specifically, a certain Deputy Inspector-General (DIG) of Police, who was deployed to oversee the exercise with clear instructions from his principal, the Inspector-General of Police, on how to go about his assignment, was said to have complained to

someone close to the president that he received a call from Lawal with a contrary order.

According to the source, Lawal had asked the DIG to report to Chief Pius Akinyelure, APC chairman in the South-west, and brief him on developments.

But Akinyelure, a very close ally of Senator Bola Tinubu, though an APC chieftain, was believed to have worked for the Alliance for Democracy (AD) and its candidate, Olusola Oke in the Ondo election.

Ironically, this fact was unknown to the DIG, the implication of which was that he would have inadvertently played into the hands of the opposition on account of the order handed to him by Lawal.

When the matter was eventually brought to the notice of the president, he was said to have been very livid and called Lawal immediately with a strong warning that the next time he found him meddling in the Ondo election matter or any matter not assigned to him, it would be his last assignment as SGF. It was on this basis that Lawal was said to have backtracked on the election that was eventually won by Mr. Rotimi Akeredolu (SAN) who had the blessing of Buhari.

Those around the president, when he spoke to Lawal, were said to have been worried for the SGF, saying they had never seen or heard the president speak to anyone with such anger, adding that from the demeanor of the president, “we knew Lawal was in trouble and it was only a matter of time before he was relieved of his job”.

A source added: “With the PINE contract, which clearly borders on

corruption, there is no doubting the fact that he is a goner. There is no way he or the president can defend this.

“However, one would have expected that as a decent person, he would have sent in his letter of resignation and not wait until he is shown the way out.

“But whether or not he likes it, the allegations are too weighty for the president to ignore,” the source said.

He explained that “what they actually wanted to do was to fund the Ondo election with N1.3 billion Ecology Funds to be done in somewhere in Ogun State.

“But neither Vice-President Yemi Osinbajo nor Governor Ibikunle Amosun of the state was aware.

And when they started touting the VP’s name, he quickly wrote a formal letter and washed his hands off the deal.”

The source said practically all members of the Buhari cabinet were happy about the development, as Lawal seemed to have no friends amongst them, because he wields so much powers they cannot explain.

Even more worrisome for him, the source added, is that those who actually run the show in the government are also no longer comfortable with him and had been looking for a way to edge him out.

Unfortunately for them, Lawal is said to have been lucky all along because the president had personally watched his back and dismissed every attempt to advance his removal.

But with the Senate report clearly indicting him, they are happy and confident that he would not survive it since it is against everything that the Buhari's government stands for.

PRESIDENCY ALERTS SENATE OF CABINET SHAKE UP NEXT MONTH new nominees in the spirit of the recent rapprochement reached between the Senate leadership and the presidency.

The objective on the part of the presidency is to avert a volatile screening process.

THISDAY further learnt that other than the changes to the cabinet, it has become compelling for Buhari to fill the two existing vacancies created by the demise of Mr. James Ocholi, former Minister of State for Labour and Productivity, in March this year and the imminent exit of the Minister of Environment, Mrs. Amina Mohammed, following her appointment as the Deputy Secretary-General of the United Nations (UN).

Ocholi, before his unfortunate demise in a car accident, represented Kogi State in the cabinet while Mrs. Mohammed represents Kaduna State.

A source close to the presidency, said the presidency was disturbed by the series of conflicts between it and the Senate in recent times, resulting in the rejection of various presidential requests.

THISDAY also learnt that some of the 10 ministers to be affected by the exercise would be dropped while others would swap portfolios.

It was also learnt that having worked with the ministers for 14 months, Buhari now has the opportunity to put things in order in his cabinet.

“There is an understanding that in the new year, one of the key assignments the Senate will undertake, aside from the consideration of the 2017 budget, is the screening of new ministerial nominees who will be replacing some of the ministers that will soon be asked to leave the cabinet,” the source said.

It was also learnt that the Buhari administration was prepared to effect changes, following the

criticism that it had put round pegs in square holes. So he wants to ensure that come next year, ministers are rightly placed while those considered to be under-performing are shown the exit.

It was also learnt that the exercise would affect appointees from the various geopolitical zones, just as THISDAY learnt that both the presidency and the Senate had rubbed minds on the issue in their renewed resolve to work together in the interest of the nation.

The presidency was said to have opted to carry the Senate along in its subsequent plans because it was said to have been taken aback by some of the parliament’s recent decisions.

For instance, only last Thursday, the Senate rejected the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu.

Earlier, it had rejected the president’s request for approval of a $30 billion external borrowing plan. It also returned the non-career ambassadorial list and dropped some nominees of National Communications Commission (NCC).

In addition, it returned the Medium Term Expenditure Framework (MTEF) before reconsidering it stance.

A source told THISDAY in the Senate that despite the presidency’s search, the forthcoming screening of ministerial nominees would not be a walkover for anyone.

“The senate will set a high standard. Security reports will be taken seriously. There will be thorough screening. It will not be a tea party,” he added.

Buhari Shops for Lawal’s Replacement In a related development, Buhari may have begun to quietly shop for

a replacement for the Secretary to the Government of the Federation (SGF), Babachir David Lawal, who is currently facing corruption allegations, THISDAY has learnt.

Sources in the presidency who hinted at the development, said the recent allegations that a company, Rholavision Engineering Limited, which Lawal owns, corruptly accepted payments from another company, Josmon Technologies, exceeding N270 million, was just the breaking point for the president, thus prompting the need for his removal about three weeks ago.

Bank statements and other documents exclusively obtained

by THISDAY from the Presidential Initiative on the North East (PINE), whose budget is managed by the Office of the SGF, showed that Josmon and Rholavision were awarded contracts early this year to remove plant species (removal of weeds) that had invaded Komadugu water channels in Yobe State as well as the irrigation of the water dams in the same area for almost N300 million.

The payments that were made to Josmon were subsequently transferred in several tranches of N10 million to Rholavision’s account with Ecobank International Plc on March 30, 31 and April 1, 2016, contrary to civil service rules and laws barring public sector workers and appointees from awarding contracts to themselves or companies linked to them.

Even more damning was the fact that Lawal, who claimed that he relinquished his shares in Rholavision on September 16, 2016, was the sole signatory of the account of the company, as his personal Bank Verification Number (BVN), was linked to the company.

It was on the basis of this incriminating evidence that the

FORBES NAMES DANGOTE, PUTIN, OTHERS MOST POWERFUL PERSONS IN THE WORLD The Catholic pontiff, Pope Francis was in fifth place; the world’s richest man, Bill Gates, come in seventh; Chinese President Xi Jinping came before the Pope in number four while the Facebook founder, Mark Zuckerberg, was the 10th most powerful person in the world.

Forbes reported that there are nearly 7.4 billion people on planet earth but the listed men and women as the most powerful make the world turn.

The magazine is well known for its lists and rankings, including its list of the richest Americans (the Forbes 400) and rankings of the world's top companies (the Forbes Global 2000).

Another well-known list by the magazine is the The World’s Billionaires list.

In 2013, Dangote was the only African listed among the most powerful people in the world

before the Egyptian president recently featured on the list.

Dangote recently won the 2016 African Business Leader Award organised by the Africa-America Institute (AAI) in New York in September.

The Dangote Foundation, the most endowed foundation in Africa established by him, also won the 2016 African Philanthropy of the Year Award at the All Africa Business Leaders Award (AABLA) in Johannesburg.

Last month, Dangote was also named among the 50 world’s most influential personalities

by Bloomberg, the renowned U.S.-based news media wire service with a bias for business and financial news reporting.

The group of personalities chosen by the Bloomberg Market consisted of CEOs, world leaders, as well as religious leaders.

As expected, Barack Obama,

Angela Merkel and Pope Francis made the list with Dangote at number 41 on the list.

According to Bloomberg, those on the list “build companies and assemble fortunes. They run banks, or hope to disrupt them. They shape economies and spread ideas. They manage money and wield the clout that goes with the billions of dollars they invest”.

The Bloomberg media said of Dangote: “Aliko Dangote, Founder, Dangote Group, Africa’s most successful businessman, built his fortune in sugar, textiles, and cement in his native Nigeria, where today, he is a political as well as a financial power broker. He is expanding in other countries and may list his cement company on the London stock market.”

A piece written by Paul Wallace, a reporter with the media outfit, said: “Dangote

is feted like royalty. He has businesses ranging from cement to sugar to energy in a dozen sub-Saharan countries. He’s a fixture at elite gatherings such as the World Economic Forum in Davos, Switzerland.

“No African has ridden the continent’s halting march out of poverty toward potential prosperity as spectacularly as its richest person, the Nigerian industrialist Aliko Dangote.”

Similarly, Prof. Iweribor of the Hunter College, University of New York, described Dangote as a transformational industrialist, saying his inclusion on the list of most powerful persons in world was not surprising.

He said: “This is because he and his group have emerged as the revolutionary vanguard of African economic transformation, and have been at the forefront of domestically generated prosperity and psycho-cultural upliftment.”

…PRESIDENT ORDERS AGF TO INVESTIGATE TOP GOVERNMENT OFFICIALS presidency has been drawn to a number of reports in the media, in which various accusations of corruption have been levelled against some top officials in the administration.

“In that regard, President Buhari has instructed the Attorney General of the Federation to investigate the involvement of any top government officials accused of any wrong-doing. If any of them is liable he will not escape prosecution.”

There have been allegations of corruption against top government officials. Even the AGF who was directed by the president to carry out the investigations had been accused of corruption.

The Senate last week asked the president to suspend the Secretary to the Federal Government (SGF), Mr. Babachir David Lawal, and ensure his prosecution over alleged breach

of the Nigerian laws in the handling contracts awarded by the Presidential Initiative Continued on page 9

TOP GAINERS NGN NGN ETI 0.89 12.04 FIDSON 0.06 1.27 CCNN 0.20 4.24 CUSTODIAN 0.18 3.96 HONEYWELL 0.06 1.32 TOP LOSERS NGN NGN FORTEOIL 12.54 116.24 UNILEVER 4.27 39.57 PORTPAINTS 0.20 1.98 BETAGLASS 1.60 30.40 INTERBREW 0.94 18.00 HPE Nestle Nig Plc ₦810.00 Volume: 874 million shares Value: N4.386 billion Deals: 3,387 As at 16/12/16 See details on Page 35

% 7.9 4.9 4.9 4.7 4.7 % 9.7 9.7 9.1 5.0 4.9

9

˾ MONDAY, DECEMBER 19, 2016

PAGE NINE

ExxonMobil to Pay N350m Each as Severance Package to Sacked Senior Employees Kachikwu convenes meeting tomorrow Ejiofor Alike U.S. oil giant, ExxonMobil Corporation, will pay up to N350 million each to some of the sacked Nigerian employees as severance payments, driven by years of service and additional redundancy gratuities, THISDAY has learnt.

It was also learnt that of about six per cent of the workforce affected by the right sizing carried out by the firm, the average payment per person hovers around N140 million, including redundancy pay of about 36 months basic salary.

This is coming as the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu has invited the protesting oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association (PENGASSAN) for a meeting tomorrow to resolve the labour crisis.

The aggrieved oil workers of the company on Thursday shut down the company’s corporate head office in Lagos indefinitely in protest over the attempt by the company to sack over 150 workers.

The protesting workers had accused the company of flagrant violation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act by deploying expatriates to take over jobs for which there is local capacity.

The workers had also insisted that the Managing Director of the company, Mr. Nolan O’Neal, must be relieved of his duties.

But top officials of the company who spoke off the record, told THISDAY at the weekend that 2016 was a

challenging year for Mobil Producing Nigeria (MPN), a Nigerian affiliate of ExxonMobil, with the profitability of the affiliate being the worst in recent history.

According to one of the officials, while costs are down, revenue is down by almost three quarter, even as the company has spent more than its earnings to ensure that its contractors and employees were paid.

“Some of the resultant effects on the business have included scaled down operations, reduced personnel, uplift project deferments, and contract renegotiations. Against this backdrop, any responsible company would take steps to ensure survival,” he said.

He described the company’s ongoing redundancy programme, which he said was targeted at lower performing employees, as one of the steps taken by the company towards survival.

Another official of the company further revealed that the employees impacted accounted for only about six per cent of the workforce that were offered an enhanced benefits package in excess of the provisions of the collective bargaining agreement (CBA) signed with the in-house union.

He added that postemployment support programmes to support their transition period from the company were also included in the package.

“The severance payments driven by years of service and additional redundancy gratuities are in some cases up to N350 million for an employee. For the total population affected,

average payment per person hovers around N140 million.

“The pay package covered redundancy pay of about 36 months basic salary, Settling-in allowance of up to two months basic salary, additional pay to address economic realities of up to three months basic salary, and notice pay of three months basic salary,” he explained.

On the allegations of noncompliance with the extant laws and agreements levelled against the company, the official argued that neither the Nigerian labour law nor the CBA with the union requires alignment between the company and the union in the event of redundancy actions.

According to him, the CBA (Clause 23b) states that “whenever redundancy actions are contemplated, the company shall inform the association of the intended action and the association may bring to the company’s attention any problems that it believes are involved”.

He added that the Nigerian Labour Act (Clause 20a) also states that “in the event of redundancy, the employer shall inform the trade union or workers’ representative concerned of the reasons for and the extent of the anticipated redundancy”.

The official revealed that the union disagreed with the company’s notification, and also abandoned the provisions of the CBA, which specifically states in Clause 13b that “if a dispute arises during the subsistence of the agreement, either party shall comply with the current law governing Trade Disputes in Nigeria and neither party shall resort to arbitrary strike

NUPENG threatens strike

action or lockout”.

He accused the workers of disregarding the provisions of the CBA to embark on actions that “border on harassment of fellow employees, breach of security, health and safety protocols, destruction of the company’s property and other actions that impacted the general welfare of all personnel including their members”.

“We even understand that they shut down power to the staff clinic, and chased away medical personnel on duty, thereby putting the lives of patients at risk,” he added.

He further disclosed that even with the intervention of Kachikwu, who personally appealed to both the union chairman and secretary, extending invitations for a meeting tomorrow, the union resorted to taking steps that might impact production activities within 24 hours.

On the allegation by the workers that the company was hiring expatiates to replace Nigerians, the official disclosed that the company had demobilised 40 per cent of its expatriates in the wake of the current challenges.

According to him “We are at our lowest ever number of expats in country.”

Despite the clarification provided by a source in ExxonMobil, the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) said at the weekend that it would begin a three-day nationwide warning strike by January 9, 2017, against the anti-labour practice of the international oil companies (IOCs) operating in the country.

The South-west chairman of the union, Alhaji Tokunbo, told newsmen in Lagos that the warning strike was inevitable because all other options had failed.

According to Korodo, “We are not gaining anything by going on strike because it is not a joyful thing but as a union, we have to protect and fight for the welfare of our members.

“We have sensitised the public and also sought the intervention of the federal government over the anti-labour activities of the IOCs on our members but we are not getting results.

“Our members that put in their best within the duration of time they worked were not paid their severance packages by their employers when they sacked them.

“This is a big slap and it will not be allowed. What they are practising here in Nigeria, they cannot practise in their countries, so that is why we say enough is enough. We will take the bull by the horn,” he said.

According to the News Agency of Nigeria (NAN), the chairman said that the issues leading to the planned warning strike were inherited by the present administration, while some occurred within the same government.

He said: “Two hundred and fifty members of our union were affected by the divestment by Chevron Nigeria Ltd., in the South-East.

“And this is giving us serious concern because they cannot feed their families. The Minister of Labour, Sen. Chris Ngige, asked all the parties to maintain the status-quo ante

and we complied because we respect the authorities.

“But the IOCs seem to be above the law or more powerful than the government; they failed to maintain the status-quo ante that was amicably agreed to by both parties.

“Chevron had to tell our 250 members that their contracts with it were no more binding on it because it cannot trace the company that employed them as contract workers for it.

“The minister said that Chevron had to pay the sacked workers but its management refused to comply. It got to a time when Sen. Ngige called for a meeting in Abuja to mediate; at times its representatives would not show up.

“We would risk our lives and resources and go to Abuja, no IOCs member would come.

“Even when their representatives came, they would be those without a mandate to represent the organisation just to frustrate the discussion,” he said.

He said all the IOCs in the country were involved in the antilabour practices. “We do not want the public to experience the strike as though we are unnecessarily punishing Nigerians.

“That’s why we are using this period to protest by asking tanker drivers to hang green leaves on their trucks and our members to wear red cloth.

“By next year, if our grievances are not addressed within this period, we will proceed on a three-day warning strike. If the government and people concerned are not able to apprehend and resolve it, we may be forced to turn the strike into an indefinite one,” he said.

Intel Expert: Russia Has Trump’s Dossier Russian hackers have likely compiled a dossier on Presidentelect Donald Trump that could be leaked in the coming months, according to a Russia expert that used to sit on the National Security Council.

“I think they most certainly have something on Trump,” said Thomas Graham, Managing Director at Kissinger Associates — the consulting firm of former Secretary of State Henry Kissinger and former Intelligence Advisory Board chair, Brent Scowcroft.

According to AFP, Graham

spoke at the weekend at an event in London held at the Royal Institute of International Affairs.

“I don’t know what it is,” Graham said, “but I think certainly more is going to be leaked and made public in the months ahead. There’s got to be a dossier on Trump.”

He added that American politicians “can’t assume that the Russians have released the best stuff that they have.

“The question that we have to answer is: what are they going to

release, at what time, with what purpose in the US?” he asked.

Graham sat on the US National Security Council from 2004 to 2007 under George W Bush, serving as a Russian specialist.

“We have no firm understanding what they might have collected across the board on various political leaders — and that includes various Republicans,” he said of Russian intelligence-linked hackers.

Late Thursday the Republican National Committee (RNC) told

the Wall Street Journal that Russian hackers had attempted to breach the party’s computers over the summer, but were blocked by an email spam filter.

The Russian intelligencelinked hackers also broke into Democratic National Committee emails and others from Hillary Clinton’s campaign chair. Those emails were published by WikiLeaks in the latter days of the 2016 campaign.

A research document on Trump compiled by the Democrats and dated 19 December 2015 was

also released in the leaks.

Other Republicans, such as former UN ambassador John Bolton, have obliquely suggested that the RNC was hacked.

“It is not at all clear to me, just viewing this from the outside, that this hacking into the DNC and the RNC computers was not a false flag operation,” Bolton said during an interview on Fox News last Monday.

In September, the Republican chair of the House homeland security committee, Mike McCaul, said that he “misspoke

by asserting that the RNC was hacked” following a CNN interview in which he said the “Russians have basically hacked into both parties at the national level”.

No emails or documents from the RNC were ever leaked. But emails from several high-level Republicans, including former Secretary of State Colin Powell, John McCain, former Vice President Dick Cheney and former President George H. W. Bush appeared on the site DCleaks.com.

balderdash; it has developed the habit of the bring-him-down syndrome."

“I have the report of the Senate committee in which it was said that I didn’t resign from Rholavision Nigeria Limited. Let me tell you, Rholavision was formed by me in December 1990, and it has been a company that was run very successfully.

“Now, when I was appointed Secretary to the Government of the Federation, I resigned from that company on 18th

August 2015. I can see that in their report, they are talking about 2016. I don’t know where they got their facts.

“By the way, it is very instructive that when the committee was sitting, no effort was ever made to invite me to come and make a submission.

It is therefore, surprising that they devoted a whole session of today (Wednesday) to maligning me, claiming what is not true without even giving me the chance to come and put my own case before them.”

…PRESIDENT ORDERS AGF TO INVESTIGATE TOP GOVERNMENT OFFICIALS for the North East, (PINE).

It had also refused to screen and confirm the acting chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, following a damning report by the Department of State Services (DSS), which alleged that he was corrupt and had been leading a double life.

THISDAY also learnt that the president had directed Malami to investigate the DSS report on Magu and revert to him today, prior to the AGF’s departure for

an official trip to China.

The decision to possibly investigate Lawal followed a report by an ad-hoc committee of the Senate, led by Senator Shehu Sani, on the mounting humanitarian crisis in the North-east.

The committee, in its interim report submitted last Wednesday, indicted the SGF for allegedly receiving a N233 million contract to clear invasive plant species (removal of weeds) in Yobe State through his company, Rholavision Nigeria Limited.

The Senate alleged that he had remained a director of the company till September 2016, over a year after his appointment, in breach of Nigeria’s code of conduct for public officials as enshrined in the 1999 Constitution.

In response to the indictment, Lawal confirmed that he set up Rholavision in 1990 to carry out information and communications technology services.

But it was found by the Senate to be handling a N233

million bush clearing contracts in the North-east in 2016.

Even worse, the Yobe State Government alleged the contract was never executed.

The SGF denied any wrongdoing.

He even accompanied the president to the National Assembly to present the 2017 budget proposal.

After the budget presentation, the SGF told journalists that the Senate was only victimising him and trying to “rubbish” his personality.

He said: “The senate is talking

10

MONDAY, DECEMBER 19, 2016 Ëž T H I S D AY

NEWS

Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081

NDIC Boss Urges Banks to Recapitalise Obinna Chima, James Emejo Ă‹Ă˜ĂŽ Nume Ekeghe In order to mitigate the effects of the challenges facing the economy in the banking sector, the Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), Alhaji Umaru Ibrahim, has advised banks to beef up their capital.

Umaru said this while addressing financial journalists at a just concluded workshop organised by the corporation in Kaduna at the weekend.

He noted that issues such

as rising non-performing loans and strain in liquidity were some of the challenges confronting the banks, just as he assured bank customers that the regulators would continue to ensure that the banking system remains sound and safe. “The banks are facing liquidity issues; unemployment also affecting us globally, dwindling revenues and profits, high expectations of quality services from depositors and high expectations from investors. “A lot of banks also need to

recapitalise, and we know what it takes these days to raise fresh long-term capital. All these are daunting challenges that not only our own banks are facing, a lot of banks globally also face same challenges. Here, we are talking about high interest rate, in some parts of Europe and the United States, they are talking about negative interest rates. That is, you pay the banks to keep your money and they don’t give you anything in return. “It is obvious that for any individual or organisation to

survive, one has to do a lot to overcome this very turbulent moment. For us, in the area of supervision and regulation of insured financial institutions, it is very neccessary that we follow the dynamics, and continue to do everything possible to ensure that the deposit money banks, the primary mortgage banks and microfinance banks continue to be reasonably creative and innovative in their products and services, so that they would be able to weather the storm,� the NDIC boss added.

Furthermore, Umaru noted

that with the gradual increase in the use of mobile banking in the country, there was need to ensure that fraudsters do not take advantage of the system. To this end, he said members of the bankers’ committee were doing everything to weather mobile banking channels in the country are well secured it. “The other emerging issue relating to this is the current problem we are facing regarding Wonder Banks.

We would not relent in calling Nigerians and in sensitising them about the dangers of

patronising Wonder Banks.

We have them in Enugu, Plateau, Kaduna and some other states. Please help us continue to tell members of the public that they should not patronise such institutions. “These are institutions that are not licensed by the Central Bank of Nigeria (CBN) or insured by the NDIC. You are aware of the very recent issue of MMM. I understand that they just closed the window for sometime, but we would continue to sensitise Nigerians against it,� he added.

Ibori: Ribadu’s Excesses, Not Me, Removed Him from OfďŹ ce Asks misguided journalists to stop maligning him Former Governor of Delta State, Chief James Ibori, has asked journalists to stop maligning him almost on daily basis.

In a statement issued yesterday by Head of Ibori’s Media Office, Mr. Tony Eluemunor, he said Ibori has particularly condemned the “bare-faced lies, that some journalists and media organisations, especially Premium Times, have continued to heap against him.�

He added that “what makes it galling is the matter under contention-the Department of State Security (DSS’s) report that stopped the Senate from confirming Mr. Ibrahim Magu as the Chairman of the Economic and Financial Crimes Commission (EFCC), and did not warrant the dragging in of Ibori’s name at all. “Yet, the online publication went wild, making baseless accusations against Ibori, though it had said it was checking the facts in DSS’ allegations. “Specifically, on the allegation that during the tenure of Farida Waziri as EFCC chairperson, sensitive documents were found in Magu’s home,� the online newspaper wrote that: “The facts do not support that claim.

The statement noted that Ibori was not concerned with the fact that the publication chose not to cross check the facts but rested on answers which a journalist got almost a decade ago, and did not say how he acquired such information.

It stated further that “what Ibori finds irresponsible is the allegation that was based on pressure from political gladiators of the period (among which

were former Governors James Ibori and Bukola Saraki), then President Musa Yar’Adua unceremoniously removed Nuhu Ribadu as chairman of the EFCC. “Present Governor of Kaduna State, Nasir el-Rufai, has exposed this claim as a terrible lie in his book ‘The Accidental Public Servant’, where he stated the source of the trouble he and Ribadu had with the late President Umar Yar’Adua.   “On page 358, in a section entitled: ‘Umaru Asks Nuhu for Support: the Beginning of Our Trouble’, he wrote that Ribadu was so maddened that former President Olusegun Obasanjo had favoured Yar’Adua above Nasir-el-Rufai to succeed him as president in 2007 that he told it to Yar’Adua to his face.�

Ibori continued in the statement: “It is clear that from El-Rufai that there was no way a clear-headed YarAdua would have appointed a power-drunken Ribadu, who had unjustly arrested some Katsina State’s council chairmen just to demonise Yar’Adua to remain as EFCC chairman-to continue to arrest people unjustly, play politics with his office and hypocritically claim to be fighting corruption when he was neck deep in the worst corruption, maligning others just because of politics.�

Ibori therefore advised Nigerian journalists to try and give Nigerians a decent picture of events because the nation’s future would rest on that.

In another Development, Ibori also called on his well-wishers to disregard reports on the date of his return to Nigeria.

Saraki: Why I Attended Sheriff Daughter’s Wedding Senate President, Bukola Saraki, has said he attended the wedding of the daughter of the former acting National Chairman of the Peoples Democratic Party (PDP), Senator Ali Modu Sheriff, at the International Conference Centre (ICC), Abuja last night because he was invited.

According to him, it had nothing to do with insinuations making the rounds that he did

so in relation to moves to form a mega political party.

According to his Special Assistant on Print Media, Chuks Okocha, Saraki and Sheriff have been family friends for over 20 years and only went there as a mark of honour for him.

He said Saraki spent only 20 minutes at the wedding venue having arrived the ICC at 7.20 p.m. and left at 7.51p.m.

LET’S PRAY FOR THE COUPLE L-R: Adamawa State Governor, Umar Bindow; former Vice-President, Atiku Abubakar; and Speaker, House of

Representatives, Hon. Yakubu Dogara, during the wedding Faitha of A’isha Umar Pariya, daughter of Atiku’s Personal Assistant, held in Pariya, Fufure Local Government Area of the state....weekend

Transmission System Stability Not Guaranteed Below 3,000MW, Says TCN Blames frequent collapse on gas shortages

EjioforAlike The Transmission Company of Nigeria (TCN) has stated that the stability of the transmission network cannot be guaranteed whenever power generation drops below 3,000 megawatts.

Speaking in Lagos when the House of Representatives Committee on Power and the management of Eko Electricity Distribution Company (EKEDC) met with the customers of the distribution company to listen to their grievances at the weekend, the Managing Director of TCN, Mr. Abubakar Tambuwal Atiku, blamed frequent systeam collapses on inadequate gas supply to the generating plants.

According to the daily operational report of the TCN, power supply averaged 2,850 megawatts on Friday, with 3,163.20 MW as peak generation and 2,364.70 MW as the lowest generation.

The report showed that peak generation last Thursday was 3,156.9 MW and 2,808MW was the lowest generation.

On Saturday, generation averaged 2,980MW with 3,138.8MW as the peak, while 2,947.8MW was the lowest generation.

Also, generation as at 6p.m. yesterday was 3,172.70MW, according to the TCN. The transmission network has recorded over 20 system collapse in 2016, which were largely blamed on weak transmission network, which is regarded as the weakest link in

the electricity value chain. Â But Atiku argued that the system is susceptible to collapse whenever generation is below 3,000MW, adding that the current 20-30MW spinning reserves is not enough to save the system from collapse whenever up to 300MW is suddenly lost by the grid.

He insisted that the transmission network has a capacity to wheel 7,000MW, stressing that gas shortages have made it difficult for generation to improve.

According to him, the TCN has about 130 projects, which have been ongoing since 2012. “Generation is about 3,0003,200MW because of the issue of gas. As at yesterday, only one unit was generating 170MW at Egbin Power Station. Once we are generating below 3,000MW, nobody can guarantee system stability,� Atiku explained.

Speaking at the event, the Chairman of the House Committee, Hon. Dan Asuquo, said the visit was part of the oversight function of the National Assembly, adding that it would be a quarterly event. “For us, it is a service we are happy to do. It is a medium to create some kind of sustainable confidence. For us, it is also an opportunity to show that the members of the National Assembly are working,� he said.

Asuquo further stated that the power sector is a very important sector to the country, especially at this period of recession, adding that the only thing that can drive the

country out of the present recession is electricity.

He promised that the National Assembly would look critically at the 2017 budget submitted by President Muhammadu Buhari. “We will remove anything that looks like vague promise. The issue of saying that the National Assembly is delaying the budget can’t work. That blackmail has failed,� he added.

Earlier in his presentation, the Managing Director and Chief Executive Officer of Eko Disco, Mr.Oladele Amoda, identified some of the challenges facing the company to include: inadequate power from the grid resulting in massive load shedding; customer apathy towards payment for energy consumed; absence of enabling law to prosecute vandalism; and absence of cost-reflective tariffs.

Kaduna Bans Processions, Unlawful Assembly John Shiklam Ă“Ă˜ Ă‹ĂŽĂ&#x;Ă˜Ă‹

recommended that the Kaduna State Government should The Kaduna State Government impose a temporary restriction has imposed a ban on all on processions and act sternly processions and unlawful against unlawful assembly,� assembly in all parts of the the statement said. state.

Aruwan said government The ban was announced in endorsed the recommendation a statement yesterday after and has decided to restrict a meeting of heads of the processions accordingly and security agencies in the state. called for the cooperation The spokesman of of all citizens to respect the Governor Nasir el-Rufai, Mr. ban until it is formally lifted.

Sam Aruwan, who signed According to the statement, the statement, said: “No “the decision was taken in the processions will be allowed interest of the citizenry and to for now in Kaduna State.â€? ensure law and order in the He said the decision state. Security agencies have followed the assessment of been mandated to ensure the security situation in the compliance to the ban. All state by heads of security citizens are advised to go agencies during their meeting. about their lawful activities “Based on assessments of and to do their utmost to security reports, the meeting uphold peace and harmony.â€?Â

11

T H I S D AY MONDAY DECEMBER 19, 2016

Ecobank Masterpass QR ™

Paying with Masterpass QR is as easy as 1 - 2 - 3 1 Scan the QR code with your phone through your mobile banking app

2 Enter the amount 3 Enter your PIN

to authorize payment

... And the payment is complete!

For USSD, simply dial: *326# For Smartphones, download the Ecobank Mobile app from:

ecobank.com

MONDAY, DECEMBER 19, 2016 ˾ T H I S D AY

12

NEWS

20 Feared Killed in Taraba Ethnic Clash and Fulanis in Sabon Gidan village of Dan Anacha town in Gassol Local Government Area of Taraba State.

At least 20 people have been reportedly killed and many others missing in an ongoing violent clash between Tivs

Compel Buhari to Make Onnoghen Substantive CJN, Lawyer Urges Court Akinwale Akintunde

the Federal High Court (Civil Procedure) Rules 2009 are Justice Onnoghen, and the National Judicial Council (NJC).

The plaintiff who sued in his personal capacity and on behalf of the generality of Nigerians, also prayed the court to compel the president to uphold the principle of separation of powers and rule of law and restrain the president from further eroding on the independence of the Nigerian judiciary being the third arm of government.

According to the plaintiff, by virtue of Section 231(1) of the 1999 Constitution the 1st defendant (president) in exercising his powers to appoint the CJN must act on the recommendation of the 5th defendant (NJC).

Omirhobo stated further that by virtue of Section 231(3) of the 1999 Constitution, the 1st defendant as the head of the executive arm of government cannot hand pick and and/or choose who he wants to be the head of the judicial arm of Nigerian government.

A Federal High Court sitting in Abuja has been urged to compel President Muhammadu Buhari to appoint the current acting Chief Justice of Nigeria (CJN), Justice Walter Nkanu Onnoghen, as the substantive CJN. A Lagos-based lawyer, Chief Malcolm Omirhobo, in the suit filed against the president, the Attorney General of the Federation and the Federal Judicial Service Commission (FJSC), is also praying court to compel Buhari to transmit a letter to the Senate for Onnoghen’s consideration and confirmation He urged the court to declare that Onnoghen’s appointment in acting capacity by the president is “an aberration, a violation of the principle of separation of powers, an affront and erosion on the independence of the Nigerian Judiciary, an abuse of constitutional powers, illegal and unlawful.”

Also joined as defendants in the suit brought pursuant to Order 3 Rules 6, 7 and 9 of

Sources from the area said the crisis started last Saturday when two corpses of Fulanis were found killed in a bush.

This triggered their kingpins carrying out reprisal attacks on Tivs.

“I counted about 20 corpses who were believed to have been killed early hours of today, Sunday,” a resident of the area told Premium Times.

“Many people including women and children are nowhere to be found,” the source added.

When contacted, the Taraba

Alex Enumah in Abuja Human Rights Writers Association of Nigeria (HURIWA),” has called on the National Judicial Council (NJC) to relief Justice Okon Abang of his appointment as a judge of the Federal High Court in order to preserve the integrity of the judiciary.

The call was predicated on the alleged wrongful manner in which the judge was said to have handled some political cases brought before him at the Federal High Court, Abuja.

At a press conference at the weekend in Abuja, the National Coordinator of the group, Emmanuel Onwubiko, alongside the National Director of Media, Miss Zainab Yusuf,

CORONATION MERCHANT BANK

S/N

CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

USD AMOUNT

1

BABATUNDE DABIRI IFO HALIMAT DABIRI

PAYMENT FOR SCHOOL FEES

13-Dec-16

306.00

5,347.60

2

IBRAHIM BELLO

PTA

13-Dec-16

306.00

4,000.00

3

CHI LIMITED

LC CHARGES

13-Dec-16

306.00

1,457.18

4

CHI LIMITED

LC CHARGES

13-Dec-16

306.00

795.95

5

CHI LIMITED

LC CHARGES

13-Dec-16

306.00

1,595.22

6

CHI LIMITED

LC CHARGES

13-Dec-16

306.00

2,985.36

7

ECOBANK

INTERBANK SALES

14-Dec-16

305.50

200,000.00

8

NIGERIA CARTON & PACKAGING MFG

INDUSTRIAL RAW MATERIAL KRAFTLINER BOARD (UNBLEACHED) IN ROLLS

14-Dec-16

305.50

180,000.00

9

ONAYIMI AIWERIOGHENE

PTA

14-Dec-16

306.00

4,000.00

10

CROWN FLOUR MILLS LIMITED

RUSSIAN MILLING WHEAT(10,000 METRIC TONS RUSSIAN MILLING WHEAT)

15-Dec-16

315.00

1,650,000.00

11

CROWN FLOUR MILLS LIMITED

GERMAN MILLING WHEAT-PROTEIN

15-Dec-16

315.00

350,000.00

12

PROMASIDOR NIGERIA LIMITED

STERNVIT DP 27091 PACKED IN 25KG NET BOX

15-Dec-16

305.50

36,900.00

13

PROMASIDOR NIGERIA LIMITED

ULTRATEC F- LECITHIN POWDER (FINE) IN 20KG BOX

15-Dec-16

305.50

20,300.00

14

PROMASIDOR NIGERIA LIMITED

CHOCOLATE FLAVOUR

15-Dec-16

305.50

20,000.00

15

NIGERIA CARTON & PACKAGING MFG

INDUSTRIAL RAW MATERIAL KRAFTLINER BOARD (UNBLEACHED) IN ROLLS

15-Dec-16

305.50

122,800.00

16

AIWERIOGHENE IFO EHIGIE

PTA

16-Dec-16

305.50

4,000.00

17

GODWIN UDOM

PAYMENT FOR EXAMINATION FEES

16-Dec-16

305.50

185.00

18

VIK INDUSTRIES

RAW MATERIALS FOR THE MANUFACTURE OF INJECTION MOULDED PLASTICS - COPOLYMER

16-Dec-16

305.50

150,000.00

19

FRIESLANDCAMPINA WAMCO NIGERIA PLC

BUTTERMILK POWDER HS BAG

16-Dec-16

305.50

6,107.44

RETURNS ON SOURCES OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 16TH DECEMBER 2016 CUSTOMER

DATE OF FUND PURCHASE

EXCHANGE RATE

USD AMOUNT

1

OTHER SOURCES 1

13-Dec-16

305.00

250.46

2

OTHER SOURCES 2

13-Dec-16

305.00

15.24

3

OTHER SOURCES 3

13-Dec-16

305.00

150,000.00

4

OTHER SOURCES 4

13-Dec-16

305.00

100,000.00

5

OTHER SOURCES 5

14-Dec-16

305.00

200,000.00

6

OTHER SOURCES 6

15-Dec-16

314.50

2,000,000.00

7

OTHER SOURCES 7

15-Dec-16

305.00

200,000.00

8

OTHER SOURCES 8

16-Dec-16

305.00

200,000.00 2,850,265.70

1

TOTAL AMOUNT

2

AVERAGE AMOUNT

2,850,265.70 356,283.21

search for the perpetrators of the wicked act through intelligence gathering.

The acting Chairman of Concerned Taraba Tiv Youth Frontier, Dooior Torkula, said a total of 20 persons were killed in separate attacks.

Torkula said the frontier recovered 12 corpses in DanAnacha shortly after the attacks.

According to him, four bodies were recovered from the BornoKruku road on the outskirts of Dan-Anacha, while two other corpses were recovered in their farms.

He alleged that the attackers broke into most of the victims’ houses while they slept and murdered them.

He further said 20 other persons were left badly injured.

The acting chairman said the bodies were recovered at about 3a.m. yesterday.

Torkula said calm had returned to the area following the arrival of armed mobile policemen.

The police officers are currently patrolling the area to ensure law and order.

Sack Justice Abang Now, Rights Group Tells NJC

RETURNS ON UTILIZATION OF FUNDS SOLD TO CUSTOMERS FOR THE WEEK ENDED FRIDAY 16TH DECEMBER 2016

S/N

police spokesperson, David Misal, confirmed the clash, saying more operatives have been drafted to the area to restore peace and order.

He said the police could not yet ascertain the casualty figure.

“Actually, I cannot lie to you there are casualties, but we will release the figures later after we might have finished combing the area,” Misal said.

“It was an undercover attack by some unidentified people in the area.”

He said the police would soon conduct a thorough

declared that the Nigerian human rights community is worried by what they described as the destabilisation and unconstitutional roles of Justice Abang.

“Justice Abang’s presence on the bench constitutes grave threat to constitutional democracy hence our media intervention to call for immediate action to save our judiciary from global opprobrium,” Onwubiko said.

He claimed that if the NJC refused to ease out Justice Abang from the justice sector, “the democracy the country is currently trying to build would be irretrievably imperiled.”

They said: “Justice Abang has through numerous rulings aimed at scuttling multi-party

democracy, undermined judicial integrity, he must be shown the way out immediately, otherwise, he may unwittingly take Nigeria to a one-party state, devoid of any form of opposition.

“On behalf of 36 registered Non-governmental organisations, we at HURIWA have already closed a black book we operated in the six geopolitical zones of the country whereby lovers of democracy and human rights endorsed, through their signatures for the Nigerian human rights community, with effect from the 2016 World Human Rights day to officially blacklist Justice Abang, declare him a clear and present danger to civil rule and human rights and to begin a

global campaign to compel the relevant judicial authority such as the NJC to dismiss him forthwith from the judiciary to salvage the rapidly waning corporate image of the judicial arm of government “The monumental cases of indiscretions of Justice Abang are so well known even as several appellate courts have through several well considered judgments lambasted him for standing the law on its head.

“For instance, on August 18, 2016, the Court of Appeal in Abuja came down heavily on Justice Abang over his ruling on June 27, 2016, removing the Abia State Governor, Dr. Okezie Ikpeazu, averring that his judgment was biased and turned the law on its head.

T H I S D AY MONDAY DECEMBER 19, 2016

13

14

T H I S D AY Ëž Ëœ ÍŻÍˇËœ Í°ÍŽÍŻÍ´

COMMENT

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

HUNGER IN NIGERIA, POVERTY IN EUROPE

To reduce the surge of emigrants, Nigeria must tackle the problems of poverty, unemployment and corruption, argues Charles Iyare

T

he increasing surge of migrants across the Mediterranean Sea from Africa and other parts of the world, mainly into Europe, has become a critical issue which is catching global attention. Over the years, hundreds of thousands of migrants have fled their countries seeking asylum as refugees in European countries. About 90% of migrants are usually from countries such as Syria, Afghanistan, Nigeria, Mexico and Iran, where there are high security risks, insurgency, humanitarian crisis, war, poverty, human rights abuses, among others.

A report on Daily Post by Danielle Ogbeche on May 27, 2016 indicated that from January and April, 2016 the National Agency for the Prohibition of Trafficking in Persons (NAPTIP) has rescued 152 victims of human trafficking in Lagos State. In the report, the Lagos Zonal Commander, Mr. Joseph Famakin said his agency has successfully sent over 276 Nigerians to prison, with 51 cases in the federal and state high courts. He added that there are seven cases in the Court of Appeal and two cases in the Supreme Court. About 316 victims were rescued and brought to Lagos in 2014, while in 2015, a total of 417 victims were rescued.

The Global Migration Data Analysis Centre (GMDAC) in its yearly report from January 1 to November 13, 2016 stated that an estimated number of 341,055 arrived some key part of Europe through the Mediterranean Sea route, while 4,271 deaths were recorded. When compared to 2015, from January 1 – November 13, there were 728, 926 arrivals and 3,522 deaths recorded. Despite such alarming figures, three million migrants are still expected in the European Union, (EU) in 2017, compared to 1.5 million in 2016.

Migration has the capacity to alter the total demographic, ethnographic, economic, and productive growth of both the emigrant home of origin as well as country of arrival. Migration has adverse effects on the host country, whose public utilities may be pressured and overstretched. It may also affect the income - per - capita (IPC) of the citizens in the host country as well as the public infrastructure that has been designed to serve certain population of people in a location and which can lead to scarcity, tension, and conflict.

Most Nigerians who brave the stormy seas and unfriendly deserts have lost hope in an economic system that is characterised by poor governance, poor income, unemployment, insecurity, corruption, humanitarian crisis and increasing poverty.

Despite the risk involved, there is high patronage of human traffickers (who charge unimaginable amounts) who lure or assist migrants across borders, promising them jobs, education and a better living condition. Many of them, mostly women and children, are

MANY VICTIMS OF HUMAN TRAFFICKING NEVER LIVE TO TELL THEIR STORY AS THEY ARE EXPOSED TO HARSH TERRAIN, TERRIBLE INHUMAN CONDITIONS AND DENIED ACCESS TO PROPER LIFE

sold into prostitution, raped, and abused. Many victims of human trafficking never live to tell their story as they are exposed to harsh terrain, terrible inhuman conditions and denied access to proper life.

The United Nations Department of Economics and Social Affairs, has stated that since the past six years, emigrants and migrants, in and out of Nigeria, has shown that a minimum difference of 60,000 leave the shores of the country yearly. Many of these migrants are sold into prostitution, child labour, and slavery in countries like Libya, Spain, and Italy. In 2016 alone, not less than 162 Nigerians were repatriated from Libya, 41 from USA, and 40 from the UK. Data from the EU indicate that an average of 83 Nigerians crossed illegally from Nigeria to Europe daily, while 22,500 illegally crossed via the Mediterranean in the first nine months of 2016.

The number of international migrants is growing faster than the world’s population. The share of migrants in the global population reached 244 million (3.3%) in 2015 (41% increase in 15 years) while the current average population growing rate in 2016 is estimated at 80 million (1.13%) per year.

One can safely justify that in Nigeria, there is correlation between poverty, corruption, war and migration. The startling record of human rights abuses, poverty, unemployment and insecurity is a major reason why there is increase in migration since the past two decades. To reduce the surge of emigrants out of Nigeria, government must tackle the problems of poverty, unemployment, hunger and corruption.

The government determination to guarantee national security and workable policies at all levels for its citizens will bring about sustainable economic growth and other forms of development.

Government should support communities across the country, mostly in areas where irregular migration is rampant, by improving economic opportunities and empowerment initiatives to the youths. Government and NGOs must develop skill acquisition programmes such as welding, painting, fashion designing and carpentry as well as reintegration assistance for returnees to enable them rebuild their lives, raise awareness on the dangers of irregular migration to both children and adults.

Only then can Nigeria boast of the full implementation of the 2030 Agenda for Sustainable Development. We call on all countries to address issues of humanitarian crisis, strengthen the resilience of host communities, consider the vulnerability of migrants, refugees and internally displaced persons, and implement policies that will eradicate human trafficking.

Iyare wrote from the M&E Unit, ANEEJ

40YEARS ON

Francis Damina pays tribute to Matthew Hassan Kukah, Catholic Bishop of Sokoto, on 40 years of priesthood

T

oday, December 19, 2016, the Catholic Bishop of Sokoto Diocese, the well-informed, pedantic and widely respected Most Rev. Dr. Matthew Hassan Kukah, is 40 as a priest.

Kukah was ordained as a Catholic Priest on December 19, 1976 by the emeritus Archbishop of Kaduna, the Most Rev. Dr. Peter Jatau at Holy Family Parish Gidan Bako – then a Parish under Kaduna before Kafanchan Diocese was carved out in 1995 with Most Rev. Joseph Bagobiri as its first Episcopal Chair.

Since then, Kukah has metamorphosed from a little mustard seed into an oak. Thanks to God and to three luminous Nigerians who contributed so much in either moulding or given him the opportunity to bring out the star in him, namely, the late Dominic Cardinal Ekandem, Archbishop Peter Jatau and Mallam Mohammed Haruna – the veteran journalist now turned election umpire.

None of the three shares a clime or even a tribe with the Bishop. And this alone should teach us a lesson on the need to love our neighbours whether they are Togolese, Muslims, ‘Atheists’ or whatsoever.

As the Bishop’s younger brother and a petty trader in the market place of ideas, I have decided on the occasion of this anniversary to share with thousands, if not millions of the cleric’s friends and admirers an aspect that tantalises me so much, that is, his power of rhetoric. And to, also, explore the lesson of the timing of the anniversary.

Like Saint Augustine of Hippo, Winston Churchill or even the great Shakesperain Mark Anthony, it is common knowledge even among neophytes that the cleric possesses the capacity to literally set a whole city ablaze with the power of his speech. I have observed that the basic ingredients in preparing a sweet soup of a speech or a piece of writing by the Bishop are two: humour and controversy. As if to lend credence to this, he himself recently said: “I love a good debate. Most of my friends are those with whom I have the

greatest arguments and it is precisely this quality that I love about them�. Commenting on this, Mohammed Haruna said: “As a self-proclaimed lover of good debates, the Reverend Father has given as much as he has taken in the many controversies he has either started or joined in the course of his writing and speaking career that has spanned the last 30 odd years�.

In the build-up to the elections in 2007 or so, the South-east governors organised a symposium on how to eliminate electoral violence chaired by Professor George Obiozor. The bishop was part of those billed to speak at the event and I linked up with him from Ikot-Ekpene to Concord Hotel Owerri – venue of the event.

In his speech, which was off-the-cuff, the bishop, completely contrary to the position of the speakers before him – including the then Inspector General of Police, now the Chairman of the Police Service Commission, Sir Mike Okiro, said: “You have invited me to speak on how to eliminate violence in the forth-coming elections. On the contrary, I am sorry to say that I do not subscribe to the almost conventional wisdom that violence can be eliminated. And this is because; violence is part and parcel of man right from the fall of Adam.

What for me is important is for us to begin to talk about how to rather manage it�. At this point, the hall turned mute that one could almost hear the musings of ants from their market square. And everyone knew it was Father Kukah who was in control of the microphone.

The startling and most sparkling remark he made that attracted a standing ovation was when he said: “The previous speaker said when two elephants fight it is the grass that suffers. But I tell you, whether the elephants fight or make love, the grass will still suffer not because of what they do but because of their sizes�.

The most memorable speech His Lordship made based on my assessment, was a lecture he delivered almost a decade ago on the occasion of Saint Joseph Major Seminary Ikot-Ekene’s Theology

Day with the title ‘Democracy and the Common Good: A Call to Arms’. The bishop was at his best; full of humour and controversies.

After an opening remark by the then Rector, Rev. Fr. Dr. Donatus Udoette, himself a sophist, in which he posited that Nigeria needs God-fearing politicians with the impression that the country was only next to hell, Kukah stood up to, in his presentation, emit ‘atheism’ by arguing, among other things, that the more he travels, the more he loves this country.

The peak of the lecture was when he said: “Many times I have listened to Nigerians especially priests say the problem with Nigeria is that we don’t have God-fearing politicians. But to be sincere, I personally don’t need ‘God-fearing’ politicians; I prefer politicians who fear Nigerians rather than God�. He went further to argue that this is because; “One, how do we measure the fear of God? Is it by the size of one’s Bible or Qur’an? Two, God does not have a voter’s card. I was the one who voted for you and you need to be accountable to me and not God because, whatever business you have with Him, you can settle it when you get to meet Him in heaven�. While arguing that politics is called a game and not a religion, he concluded with a rhetorical question; “Is God for instance going to judge wrestlers for beating and injuring their opponents on the last day?�

There are many myths especially among ordinary people about the great man as Abduljalal Na’iya calls him. It was for instance told that on one occasion, a young man came to him to say he was an orphan who applied for a job and needs a god-father. The sage responded by telling him; “Young man, I am only aware of one God in heaven and it is your business if you need a private one�. At this, he gave the young man a stipend. And that was vintage Kukah – philosophical, full of humour and controversies.

In those years wasted by the termites – the years of military dictatorship, when those who today pose as national elite with varied titles of national honours and awards, including the Wole Soyinkas,

of this world ran away - no other voice rang out so clearly and so true as Kukah’s. The greater the adversity, the greater his courage.

As he celebrates his anniversary, a lot of admirers, well-wishers and friends will join him to dance at the market square not because of the power of his rhetoric, neither his wit nor controversies, but because of the uncommon courage he exhibited by whistling in the dark in those sad and treacherous days when soldiers were up in arms to violate and defile all that was most sacred to man. And this is what endears him to so many Nigerians some of whom are Muslims, others Christians, and still others, ‘atheists’. He stood up for them not as brethren-in-faith but as brethren-in-creation which surpasses the former. This may also explain why Nigerians see him not as a Catholic priest but as a priest for all who will speak for the ‘Atheists’, the Muslims, the Christians, Catholics, Igbos, Biafran agitators and even Boko Haram adherents whenever they have a just course or what defines their humanity is at stake. The great man may have realised this clearly during their tour as a member of Nigeria’s Truth Commission set up in 1999.

What all this means is that the anniversary is coming at an appropriate time, a time with challenges to spur the bishop’s enduring character.

At a time of supreme complacency when “a monstrous tyranny never surpassed in the dark lamentable catalogue of human crime is threatening our national unity: the genocide in Southern Kaduna, Boko Haram in the North-east, vandalism and destruction of our national asset in the East and some parts of the Niger Delta, cynicism and hunger, general insecurity in nearly all parts of the country with a call for separation of the marriage of 1914, the anniversary should renew the strength of His Lordship and encourage him to rise in defence of our nation against the impending doom that is about to consume it. This, as I said, is the basic character that endears him as a priest for all.

Damina, a student of Religion and Society, wrote from Holy Family Gidan Bako

15

T H I S D AY Ëž Ëœ ÍŻÍˇËœ Í°ÍŽÍŻÍ´

EDITORIAL STOWAWAY AND INSECURITY Frequent cases of stowaway endanger security at the nation’s airports

O

rdinarily, the airside of any airport is known as a sterile area that is strictly out of bounds and can only be accessed with the approval of security operatives. But in the last 10 years, there have been reports of people who ignorantly believed that they could hide in the wheel-well of aircraft and make it to their overseas destinations. Several times this had been tried and it ended up tragically as it happened recently with another stowaway found in the wheel-well of Arik Air aircraft, when it arrived at South Africa Airways Technical maintenance facility in Johannesburg.

What makes it particularly worrisome is that this is becoming an epidemic of sort. In March, 2015 there was a stowaway who sneaked into the wheel-well of Arik’s massive Airbus A340-500 aircraft, hoping to hide there and get to New York. Unfortunately, instead of arriving at the JFK Airport, New York alive, it was his dead body that came back to Nigeria and fell at the Murtala HAVING EASY ACCESS TO Muhammed InTHE STERILE AREA OF THE ternational Airport AIRPORT EXPOSES IT TO tarmac in Lagos. It TERROR ATTACKS, AND was learnt then that THUS ENDANGERING THE security operatives LIVES OF THOUSANDS OF at the airport could not say precisely AIR TRAVELLERS what happened and how the dead man was able to access the airside of the airport and sneaked into the wheel-well of the aircraft.

In 2013, a similar tragic incident happened when the dead body of a young man dropped on the tarmac after the return of a ight to New York. It was later learnt that the deceased gave N100, 000 to an airport ofďŹ cial to procure US visa for him. But when he could not succeed in doing that, he helped the deceased into the wheel-well of an aircraft destined for New York.

Letters to the Editor

In September 2013, a then14-year-old boy, Daniel Oikhena, hid in an Arik Air Benin-Lagos ight and arrived alive. The boy, concealed in the wheel-well of the aircraft, which is the tyre compartment, survived the ight to Lagos. When interrogated, Oikhena said he thought the ight was going to the United States and was hoping to fulďŹ ll his life’s ambition of overseas trip. His survival was attributed to the fact that it was a short ight of about 35 minutes which ensured that the aircraft while airborne did not climb to high altitude.

T T H I S DAY EDITOR

DEPUTY EDITORS

˜

MANAGING DIRECTOR

DEPUTY MANAGING DIRECTOR

CHAIRMAN EDITORIAL BOARD

EDITOR NATION’S CAPITAL

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

GROUP EXECUTIVE DIRECTORS ˜

˜

˜ ˜

GROUP FINANCE DIRECTOR

DIVISIONAL DIRECTORS ˜

˜

˜ DEPUTY DIVISIONAL DIRECTOR

SNR. ASSOCIATE DIRECTOR

ASSOCIATE DIRECTORS ˜ CONTROLLERS

˜

˜

GENERAL MANAGER

GROUP HEAD

ART DIRECTOR

DIRECTOR, PRINTING PRODUCTION

TO SEND EMAIL: ďŹ rst name.surname@thisdaylive.com

hat the stowaway and their collaborators often had easy access to the airside of the airports, especially the nation’s busiest Lagos airport, is an indication of how easy security in sensitive parts of the airport could be breached. Yet having access to the sterile area of the airport exposes it to terror attacks, and thus endangering the lives of thousands of air travellers.

Instructively, there have been recent bomb attacks on airports and airplanes that emanated from weak security system. On October 31, 2015 a Russian airliner, Metrojet Flight 9268 disintegrated above northern Sinai following its departure from Sharm El Sheik International Airport, Egypt. Available reports revealed that a bomb may have been taken into the aircraft despite security procedures. The terror attack on June 28, 2016 at the Ataturk Airport in Istanbul, Turkey, was attributed to weak security system which allowed terrorists to gain access with automatic weapons and explosive belts. The Brussels airports security had to be fortiďŹ ed after suicide bombers attacked it on March 22, 2016.

Against the background that Nigeria has similar weak security system at its airports, we call on the authorities to scale up their security, perhaps with dogs and the use of technology, as additional reinforcement. Also there should be regular proďŹ ling and monitoring of security personnel to prevent insider threat.

TO OUR READERS Letters in response to speciďŹ c 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.

SO THAT NIGERIA CAN BE GREAT

H

ow did the “giant of Africa� get to this point? Nigeria gained independence on October 1, 1960 amidst great pomp and hope. Some 56 years later, after a civil war, decades of corrupt leadership and moral decadence of citizens, our great country is in the worst state it could ever be.

It is officially in recession and the recession does not seem likely to end soon. One’s prayer is that the recession does not degenerate to depression. In fact if care is not taken, Nigeria is on its way to becoming another Venezuela. As the popular saying goes, “Rome was not built in a day�.

It should also be noted that “Rome did not fall in a day�.

It is easy to blame Nigeria’s present state on decades of corrupt leadership but what role did the followers play in this whole “drama� that led the country to remaining one with great potential for decades while other less endowed countries of the same age have realised their own dreams and joined the league of developed nations?

The statement made by former Attorney General of Ogun State, Wemimo Ogunde (SAN) at the Lagos Startup week 2015 struck a chord with me. He said “if you took all Nigerians to Germany and you brought all Germans to Nigeria, in 10 years Nigeria would be like Germany and Germany would be like Nigeria�. I think he was spot on

with this statement.

The average Nigerian citizen today has lost every sense of “collective responsibility� towards his fellow countrymen and women. He only cares about himself and his family.

This is why you see many rich men live in grand houses where they have constant electricity, the best food and clothes, etc. However, when one steps out a few blocks from these mansions, you see people wallowing in extreme poverty and the rich man cares less. In fact, he is blind to the plight of the poor man next door. So long as he and his family are feeding well, he is alright.

I will not quarrel if the bourgeoisie in Nigeria made his or her money by working hard and making money from productive ventures which in fact contributes to the nation’s gross domestic product. No. The Nigerian nouveau riche is, with few exceptions, a rent collector, a parasite on government and one privileged and opportune to be able to manipulate the system or even dip hands into government coffers. He makes so much bleeding the state and diverting collective wealth to personal use.

The attitude of the elite has caught on with the ordinary people as well. He cares no hoot about maintaining public projects and facilities which are put in place for collective use.

Earlier in the year, I was at an ATM in front of a bank in

Abuja. A guy in front of me finished drinking from a bottle and he threw it straight on the floor. Meanwhile, there was a bin right in front of him, less than a metre away. Should this care-free attitude be attributed to ignorance or stupidity? I am pretty sure if I asked the same guy “why is the country so dirty�, his reply would be “Buhari is not ruling the country well� or something similar, blaming the leaders for his inability to think and do the right thing. These same people travel to places like the UK or USA and they dare not do the same thing because they will be slapped with a fine or it will just look stupid to litter in these countries.

To this guy, such a poor attitude is deemed “acceptable� in Nigeria.

Let me conclude by stating that I am in no way shifting blame from the incompetent leaders Nigeria has been afflicted with. All I am saying is that the ordinary people like me and my fellow countrymen and women also have as much a role to play if Nigeria is going to become the country we all dream of. We should all imbibe the teachings of the religions we follow that tell us to be “our brother’s keeper�. “The labour of our heroes past shall never be in vain�. We should all play our roles with a positive and patriotic attitude. God willing, Nigeria will be great again.

Oladapo Olaniyonu, Reading, United Kingdom

16

MONDAY DECEMBER 19, 2016 T H I S D AY

The Great Leader is

54

T H I S D AY MONDAY DECEMBER 19, 2016

19

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

16

POLITICS

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

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

Corruption War in Dire Straits The much touted anti-corruption war of the President Muhammadu Buhari administration became morally delinquent last week when one of its major drivers and head of the Economic and Financial Crimes Commission, Ibrahim Magu, was accused of compromising the war he was actually called to lead. Omololu Ogunmade gives the insider story of his rejection, with additional reports by Shola Oyeyipo and Segun James

I

t was a sad end for the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, last Thursday when the Senate threw out the request for his confirmation for which he had desperately fought for complete six months.

The Senate cited a damning security report by the Department of State Services (DSS) as the reason for his rejection. Since then, it has been an uneasy calm in anti-graft crusade of the administration of President Muhammadu Buhari, who had appointed Magu in acting capacity on November 9, 2015 following the sack of Ibrahim Lamorde.

How It All Began…

Magu’s rejection on December 15, 2016 was the climax of a series of physical and psychological conflicts he had battled since his appointment last year. But the intense battle which eventually consumed him last Thursday began on June 17, 2016 when Vice President Yemi Osinbajo, while serving as Acting President, sent his name to the Senate for confirmation.

Whereas the vice president’s action was cheery to Magu and proponents of his confirmation, it only intensified the Cold War which had been raging against his confirmation since inception. Magu had initially thought that the battle against his confirmation which began in the Presidential Villa would also end there. But immediately his name was forwarded to the Senate, the battle equally shifted to the upper legislative chamber.

First, in an unusual manner, Senate President Bukola Saraki declined to read his confirmation letter until almost a month after, specifically on July 14. Again, after the letter was eventually read, Magu and his admirers thought that the coast was clear but that was untrue. Rather, it only intensified the battle as the Senate again returned to its initial silence on his confirmation by keeping the letter in the cooler.

Several questions were raised on why the Senate opted to sit on Magu’s confirmation.

Pressure was also mounted on the Senate leadership to act on the letter. Hence, on December 7, when Deputy Senate President Ike Ekweremadu eventually announced Senate’s preparedness to screen Magu the following day, December 8, it was perceived to be victory at last and sad news to his opponents.

But then, those who believed Magu was unfit to head the anti-graft commission only returned to the drawing board by drawing Senate’s attention to a damning security report consisting of Magu’s alleged dirty past and present.

Second, when Magu arrived at the National Assembly complex on December 8, for confirmation, the Senate turned him back, saying some of its members, who were absent had requested for the postponement of his screening to enable them participate in the exercise. That was enough signs for Magu that the road to his confirmation was yet shrouded in a fog of uncertainty. Nonetheless, the Senate asked Magu to return again for his screening on Thursday, December 15.

Expectedly, Magu returned to the National Assembly complex last Thursday basking in the euphoria of hope with a retinue of his aides clad in black suits, who had flooded the lobby of the National Assembly. However, indications that Magu would leave the National Assembly a sad and frustrated man began when immediately after the commencement of the plenary, senators dissolved into an executive session.

This raised questions among dispassionate observers, notably journalists, on why the Senate opted to go into a closed-door session over a matter that had been with it for six months, moreso when it had only last week given an assurance of its preparedness to screen Magu that Thursday. That made it clear to every discerning mind that his confirmation could be jinxed.

Why didn’t the Senate hold executive sessions before inviting Magu all the while? Why opting

Magu...battling integrity test

to hold an executive session at the very time it had fixed for Magu’s confirmation and after the nominee had already arrived in accordance with the screening schedule? These were some of the questions raging in the minds of pundits.

As THISDAY learnt, the executive session was stormy as there were altercations between strong opponents of Magu among the senators and the Senate Leader, Ali Ndume, who reportedly made case for Magu’s screening because they both hail from the same area. But before the end of the meeting, the Senate commissioned its spokesman, Sabi Abdullahi, to announce Magu’s rejection to the press.

Thus, Abdullahi stormed the press center to announce the bombshell and cited unfavourable security report as the reason for Senate’s decision.

Hear him: “This is an official statement from the Senate of the Federal Republic of Nigeria. It’s the statement on confirmation of the nomination of chairman and members of the Economic and Financial Crimes Commission (EFCC).

“The Senate of the Federal Republic of Nigeria wishes to inform the general public that based on security reports available to the Senate, the Senate cannot proceed and confirm the nomination of Ibrahim Magu Mustapha as the Executive Chairman of EFCC. Accordingly, the Senate hereby rejects the said nomination and has returned the said nomination to Mr. President for further action,” Abudullahi said.

Abdullahi did not take questions from journalists on why it had taken the Senate this long to arrive at the decision and why it also took the parliament almost two hours of turbulent executive session to come up with that resolve.

Questions on Magu’s Rejection Since Magu’s rejection by Senate on Thursday, a number of questions had arisen from the

development. First, the manner of his rejection was strange to parliamentary norms. Screening, confirmation and rejection of nominees are usually done under the camera in full glare of the public.

As a matter of fact, rejection or confirmation is not done in an executive session. Confirmation or rejection is done following a recommendation of the relevant committee assigned to screen a nominee. It can also be the offshoot of a resolution

The anti-graft crusade under Magu is already doomed by the DSS damning report unless it is proved beyond reasonable doubt to be untrue. This accounts for why some believe that Buhari cannot afford to be complacent over the matter if he’s indeed passionate about anti-graft crusade. Already, it is believed that Magu’s image is dented and he can no longer lead the crusade with his already dented image

of the Committee of the Whole Senate after satisfactory screening.

But in a strange manner, Magu did not have any chance to stand for screening during which he could have been confronted with the damning allegations of corruption and sabotage against him.

This has raised some questions on whether Senate’s decision of that magnitude in an executive session was valid or not. There were also questions on why such decision was not taken and communicated to Magu instead of inviting him twice when eventually he was given no chance to appear before the Senate for screening. There were also questions on why the Senate did not act on the DSS security report since October 3.

Responding to journalists’ insistence that Senate’s curious decision was confusing, Sabi retorted: “There’s no confusion here. We have said it’s based on security reports. Please, all of us public officers go for security screening, everybody!

“And we are saying based on security reports, we cannot proceed and confirm and we are rejecting it and returning it back to Mr. President for further actions. That’s just the statement.

It’s as simple as that. That’s exactly what the Senate has said and I don’t have any other explanation more than this.”

Having said this, Abdullahi returned to the chamber and towards the end of the stormy session, it was learnt that Magu was invited to the meeting where the bombshell was eventually broken to him. Questions also arose on who had the authority to write a security report against a public officer, the Director-General of DSS or National Security Adviser (NSA)?

There were arguments that DSS usurped the CONT’D ON NEXT PAGE

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

17

POLITICS/ THE MONDAY DISCOURSE C O R R U P T I O N WA R I N D I R E ST R A I T S

Senate in session

authority of the NSA by opting to write the report. Whether this claim is true or not remains an issue to watch out for as the controversy rages on.

There were also insinuations that the battle for Magu’s soul, which culminated in the security report that the Senate acted upon was the fallout of a supremacy contest between two contending groups in the Presidential Villa.

While the one said to have convinced Osinbajo to send the letter for Magu’s confirmation was strong, the other which allegedly prevailed on DSS to write the letter was stronger. This brings reminiscences of an allegation that Saraki once made that there was a government within the government of Buhari. But the sacrosanct issue in this matter is whether Magu indeed engaged in such shady deals or not.

This accounts for why he is expected to speak out on such damning allegations or have his image and career as a police officer marred in disrepute throughout his lifetime. This is moreso that there are opinions that having such a morally bankrupt person at the helm of anti-graft crusade will be a tragic blow to anti-corruption war in the country.

The Damning DSS Report The security report against Magu was addressed to the Acting Clerk of the Senate on October 3, 2016. The report was very damning and was enough to spell doom for anti-graft war under Magu unless it is proven otherwise. In the 15-paragraph letter, DSS said investigation conducted on Magu showed that in August 2008, following a search at his residence during the tenure of Mrs. Farida Waziri as the EFCC Chairman, some sensitive documents that were not supposed to be in his possession were found.

The report also said the discovery resulted in his detention and subsequent redeployment from EFCC to the Nigeria Police after which he was suspended from the Force.

The report further said in December 2010, Police Service Commission (PSC) found Magu guilty of “acting prejudicial to state security, withholding files, sabotage, unauthorised removal of EFCC files and acts unbecoming of a police officer and awarded him severe reprimand and punishment.”

The report said upon the appointment of the immediate past Chairman of EFCC, Ibrahim Lamorde, as EFCC boss, he made the return of Magu, who had earlier worked with him when he was EFCC’s Director of Operations his top priority, a situation it said eventually culminated in his return to EFCC. The letter stated that Magu’s return to EFCC at the instance of Lamorde was an attestation to his culpability in allegations of corrupt practices.

It further disclosed that Magu lives a flamboyant life to the extent of currently occupying a rented apartment of N40 million at N20 million per annum which it said was not paid for by the EFCC but by a retired Naval officer, Commodore Umar Mohammed, which it described as a questionable business man, who was once arrested by the DSS. Mohammed was said to have lavishly furnished Magu’s residence at the cost of N43 million.

He was also accused of proceeding on official and private trips in a private carrier easy jet owned by Mohammed. In one of such trips, he was said to have flown to Maiduguri along with Mohammed and the Managing Director of Fidelity Bank, Nnamdi Okonkwo, who was being investigated by the EFCC over complicity in funds allegedly stolen by former Minister of Petroleum, Diezani Allison-Maduke.

As an expression of his flamboyant lifestyle, DSS accused Magu of cultivating the habit of flying first class against the directive of President Muhammadu Buhari.

For example, he was said to have once flown first class to Saudi Arabia to perform lesser hajj at the cost of N2.9 million.

The report also alleged that Magu lived dualfaced life, portraying himself as an anti-graft Czar on the one hand and yet living a secretive life on the other hand. He was also said to have divulged official secrets to Mohammed in view of the benefits he was deriving from him.

The DSS said it discovered a number of official documents Magu made available to Mohammed when it searched the latter’s house. One of such letters was said to be forged allegedly from the Office of the Vice President containing the report of a fictitious investigation by Vice President Yemi Osinbajo to the president, requesting for approval to commence a probe into a matter claimed to be involving the Minister of State for Petroleum, Dr. Ibe Kachikwu and his brother, Dumebi Kachikwu.

The report further stated that Magu was fond of covering his shortcomings using police cronies to execute operations coupled with discoveries that such cronies have acquired a lot of landed property for themselves. While concluding, the report stated: “In the light of the foregoing, Magu failed integrity test and will eventually constitute liability to anti-corruption drive of the present administration.”

Implications of the DSS Report The anti-graft crusade under Magu is already doomed by the DSS damning report unless it is proved beyond reasonable doubt to be untrue. This accounts for why some believe that Buhari cannot afford to be complacent over the matter if he’s indeed passionate about anti-graft crusade. Already, it is believed that

Magu’s image is dented and he can no longer lead the crusade with his already dented image.

It will therefore amount to a mockery of the fight against corruption to leave a task of that magnitude in the hand of a perceived morally deficient person. The way forward therefore, as pundits will argue, is for Magu to come out clean of the allegations with proofs of their falsehood or be shown the way out if the anticorruption war must thrive.

From the Court of Public Opinion But in spite of the position taken by the lawmakers on the confirmation of Magu, the reaction of the chairman, presidential advisory committee on corruption, Professor Itsey Sagay, had raised some eyebrow. In what could be a reflection of the mindset of the presidency on the matter, Sagay was quoted to have insisted that “Whether they (the Senate) like it or not, Magu will be there. His chairmanship will keep on being renewed.”

According to the professor of law, “Since Nuhu Ribadu left, we have not had a man with such sterling qualities as Ibrahim Magu, and whether they like it or not, Magu will be there until he completes his term under the law.”

But reacting to Sagay’s assertion, former National Secretary, Labour Party (LP) and founder, Egalitarean Mission, Africa, Mr. Kayode Ajulo, was of the opinion that the erudite law professor should rather toe the line of the position of the law instead of seeing it from a political point of view.

“Nigeria is a republic. Everything should be as stipulated by the constitution. As a lawyer, I don’t want to look at the insinuation that his rejection was due to politics. By the virtues of the provision of the law, the lawmakers have responsibilities and obligations to perform to Nigerians.

“They are expected to either confirm or reject a person brought before them but in this instance, the entirety of the Senate rejected his appointment and that brings me to what I have always advocated; that we should build and make institutions stronger. All the noise shows that we place more premiums on persons.

“In my view, it is better we have a much stronger, viable and viral EFCC that can effectively fight corruption. Prof Sagay, knowing the law is not unaware that Section 2, subsection 3 of the EFCC act stipulates how he (Magu) can be appointed – that without the Senate approval, irrespective of the sentiment, he is not a chairman.

“I was in London recently. I didn’t even know the name of who the chairman of their electoral body is but elections went on smoothly. That is because the institution is strong and whoever heads it must work within the law.”

Also speaking on the issue, a member of the Ekiti State House of Assembly and chairman, House Committee on Information, Youth and Sports Development, Hon. Olugboyega Aribisogan, opined that there is need to reflect on the position taken by the Senate.

“As a lawmaker, you can only act on information available to you. If the Senate President, relying on information from Senate Committee on Media, says there are issues raised against Magu, the people who presented him should react.

“We should look deeper into why the Senate relied on the DSS report to reject him more so he has acted in that capacity. So, the issue is whether we should allow some of these reports without reading any political meaning to it”, he said.

Lawyer and the Lagos State Labour Party (LP) Chairman, Pastor Abiodun Popoola though not aligning with either the presidency or the Senate on Magu’s matter, was of the opinion that the law should be allowed to take its course.

“In every civil society, there are rules and regulations and they must be respected.

Government should rather be bothered because unlike the Senate, someone they presented has been rejected when in the eyes of the public he has done well and should scale through.

“Though it could also have political undertone going by his (Magu) reactionary attitude lately, even at that Nigerians should stand against statements such as ‘whether the Senate likes it or not, Magu will remain EFCC chairman’.

“If former president, Dr. Goodluck Jonathan said so the caliber of those in office today may not be there. And as such, I think it is time to begin to question the integrity of those in power.

Democracy is a government of the people for the people, so, the ideas from four corners of the country should be respected,” he said.

He contended that the EFCC itself has not been particularly spectacular in the anti-corruption fight, stressing that ‘They are looting the money they claim they are receiving and witch-hunting the people”, adding that “Though I don’t want to talk for the Senate because they are all thieves in the high places. They should all begin to build strong institutions”.

Auwal Ibrahim Musa (Rafsanjani), the Executive Director of Civil Society Legislative Advocacy Centre (CISLAC) and the civil societies in the country are disenchanted by the action of the senate.

According to him, CISLAC along with Transparency International-Nigeria (TI) and Zero-corruption Coalition (ZCC) express “concern at the circumstances surrounding the non-confirmation by the Nigerian Senate CONT’D ON NEXT PAGE

MONDAY, ÍŻÍˇËœ Í°ÍŽÍŻÍ´ Ëž T H I S D AY

20

FEATURES

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

Abuja residents queueing for the free meals

Free Meals in Time of Recession Recently, a school, La Petite Academy, surprised residents of Abuja, when it served 1,500 free meals to residents in the capital city, writes Chineme Okafor

A

track of one of Nigeria’s popular singers – Phyno, bellowed from a speaker, while a motley crowd built up. By the time THISDAY came by, a long queue had already formed, even though the occasion was quite unclear at first to the paper, and so did not stimulate this reporter’s interest as much, the unusual appeal from the microphone to the crowd was then enough to excite the interest of this reporter.

Ordinarily, one would have concluded that it was one of the many occasions or publicity acts of the various telecoms or health service providers that regularly compete for market share amongst Abuja’s growing population. At such instances, new telecoms freebies are either advertised or free health service from donor agencies are given to the city’s public, either of them often attracted the kind of crowd that were present on this occasion.

Additionally, an immediate or easy judgement of what the occasion was all about could be made from the location of the now enlarged ‘jamboree’ because it was just within the popular Banex Junction where taxis picked and dropped commuters.

Even the clear shouts of ‘Aunty, come

and collect your own plate, Uncle, come and collect, sister, come and collect o! It is free, no payment, just come and eat!’ was not good enough to confirm the occasion

The free lunch of jollof rice was served with fried chicken, people got theirs as long as they queued and comported themselves, and there was no discrimination as to who got – taxi drivers who were on duty took out time to queue for the food, street hawkers laid their wares aside to get a bowl, even technicians who had stopped to pick a taxi from the junction found the canopy very useful

until this reporter got closer to the white canopy which could pass a food galley.

Just within the white canopy, the paper met the long queue of people. They were served bowls of jollof rice and drinks by four young ladies, all dressed in white polos and matching faze caps. One of the ladies marked a finger of beneficiaries with an ink pen to serve as an indication that they had been fed, another gave the bowl, while the two others gave drinks and filled up the table with supplies.

The free lunch of jollof rice was served with fried chicken, people got theirs as long as they queued and comported themselves, and there was no discrimination as to who got – taxi drivers who were on duty took out time to queue for the food, street hawkers laid their wares aside to get a bowl, even technicians who had stopped to pick a taxi from the junction found the canopy very useful.

As everyone got away with bowls in their hands, this reporter asked Lazarus Agaigbe, a technician with LG Electronics who got one, what the whole show was about. “They are giving free rice and drinks, I have collected my own, go and collect your own now before it finishes,� Agaigbe

responded.

Prodded further to understand what he meant, he said: “I have been working since morning and haven’t had a lunch, now I was passing and saw them giving free food, I had to join the queue and got one bowl with a bottle of water, now this will help me to concentrate on my work after I finish eating. I won’t have to buy a lunch today anymore.�

With a better information, the paper sought after the promoters of the free lunch, and met with Akunna Nwamuo who told the paper her school, La Petit Academy Abuja was hosting the lunch break. “We have 1,500 bowls of jollof rice and chicken to give out and we won’t leave here until the last bowl is out,� Nwamuo said as she took time to explain to the paper what the whole show was all about.

She said the school took up the initiative as part of the monthly corporate social responsibility acts it engages in, adding that the decision to cook and feed 1500 residents of Abuja was adopted on the back of the country’s current economic situation.

Tagged ‘operation free lunch Abuja,’ Nwamuo explained that regardless of Abuja’s grandiose status, the city still had a lot of her population that are unable

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

21

FEATURES

Queue for the free meals

Two young girls with their bowls and water

La Petite Academy is hosting a free lunch in Wuse 2 for Abuja residents.

We are looking to accommodate 1,500 Abuja residents…This has to do with the economic situation in Nigeria right now. With what is happening in the country, obviously there’s need for such outreach.

There are people with paid jobs that cannot afford a decent meal today in our country, we feel we can help lighten up people’s burden even if it is just for a day or few moments to feed from their earnings. According to her, the gesture though a one-off was initiated to stimulate routine acts of kindness which she noted could become part of the city.

“La Petite Academy is hosting a free lunch in Wuse 2 for Abuja residents. We are looking to accommodate 1,500 Abuja residents. Whomever is in need of a good meal is welcomed to participate and benefit from this exercise,” said Nwamuo.

She stated: “Savoury jollof rice, tasty chicken, and a refreshing drink are served.

We are private citizens trying to do our

A technician gets served

Nwamuo in the centre with her team own part in helping ‘thy neighbour and being our brother’s keeper’.

“This has to do with the economic situation in Nigeria right now. With what is happening in the country, obviously there’s need for such outreach. There are people with paid jobs that cannot afford a decent meal today in our country, we feel we can help lighten up people’s burden even if it is just for a day or few moments. We also believe that this can become a part of Abuja’s lifestyle - helping each other overcome difficult situations.”

Nwamuo noted that the school got its

staff and management to volunteer on the initiative. She added: “Government cannot do it alone. We have to try our best to extend a helping hand to those that may need it. In addition, we are trying to instill a sense compassion and giving amongst our pupils that is why we decided to cook for people today.”

According to her, some forms of sacrifices from every member of the school went into putting the food on the palms of the 1,500 people they cooked. She stated that while it may not happen every other day, the decision to put a smile on the faces

of people even for a day was her benefit from the act.

“Just a smile on a face, that is all I wanted, and that was all the pupils and staff wanted, nothing more than a smile,” she added.

Before leaving the spot, THISDAY met yet another appreciative beneficiary, Tajudeen Alabi, a mason and who perhaps exuded Nwamuo’s expectations.

He said to the paper: “I thank these people because this meal may be my last hope for today. I have not worked today and I don’t have any money yet but they have solved my food problem for today.”

22

MONDAY DECEMBER 19, 2016 T H I S D AY

#OpenNASS Baseline Survey

#OpenNASS is an advocacy campaign aimed at tackling 3 fundamental issues:

1

2

3

Poor understanding of governance and the role of voters

Few tools (Discussion Forums, Petitions, Town Halls) available to the average voter

Opacity in the use of public funds and policy choices

Advocacy Strategy These issues will be tackled through:

1

2

VOTER EDUCATION

COMMUNICATION PLATFORMS to help the average voter reach their representative

Advocacy Goals

1

Make public the breakdown of

e-Voting

N115bn allocated to NASS in 2016

3 2

Maintain a functional website & make

Attendance Records Public

Download full report at:

www.opennass.ng

More Voices.

Better Choices.

Replace voice votes with the use of electronic voting and make the voting records public

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

23

BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

4.150 15.8625

A S

3-MONTH 6-MONTH

A T

18.3916 21.0554

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

D E C E M B E R

NITTY 1-MONTH 2-MONTH 3-MONTH

11.4397 16.8358 17.1394

6-MONTH 9-MONTH 12-MONTH

9 , 19.7842 21.3470 22.8256

2 0 1 6 EXCHANGE RATE N305.25/ 1 US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Nigerite Ltd Bags Award

WE ARE OPEN FOR BUSINESS

L-R: Delta State Commissioner for Finance, Hon. David Edevbie; Chairman, Baysol Development, Olumide Akinsanya; Delta State Governor, Gov Ifeanyi Okowa; CEO, Resilient Africa, Mr. Eddie Mc Donald; and Speaker, Delta State House of Assembly, Rt. Hon Monday Igbuya, during the unveiling of Asaba Shopping Mall, in Asaba

Wabote: Why Some Upstream companies Refused to Contribute to Local Content Fund Ejiofor Alike As some upstream companies operating in Nigeria’s oil and gas industry are concerned about the judicious utilisation of their one per cent contributions to the Nigerian Content Intervention (NCI) Fund, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has given an insight into why some companies have refused to contribute to the fund.

The NCI Fund is a pool made available by the NCDMB to meet the funding needs of manufacturers, service providers and other key players in the Nigeria’s oil and gas industry.

In line with Section 104 of the Nigerian Oil and Gas

ENERGY Content Development (NOGICD) Act of 2010, upstream operators in the oil and gas industry contribute one per cent of the value of every contract in the upstream sector into the Nigerian Content Development Fund (NCDF) from which the NCI Fund was created.

It was however, gathered that some upstream companies do not contribute to the NCI Fund.

But speaking to THISDAY on his strategies to make these companies to comply with the NOGICD Act by contributing to the Fund, Wabote stated that ignorance and lack of adequate knowledge of the implications of not contributing were largely responsible for the

attitude of these companies.

Wabote also acknowledged that some of the companies do not also understand the mechanism for contributing to the fund.

“While the people who are contributing worry about the fund they contributed, a lot of Nigerian companies do not contributing as enshrined in the law. This board will look at strategies with which we will make them comply with the provisions of the Act. That some are not contributing might be out of ignorance; some are not contributing due to their lack of understanding of the implication of not contributing and the mechanism to make those contributions.

So, we are looking at that process and I can assure you that within the shortest possible time, we will reach

out to all those companies that are not contributing and then make them comply with the laws of the land by making them to contribute.

But having said that, I think it is also important to give them comfort that the Fund will be judiciously utilised for what it is meant for,” Wabote explained.

He further stated that the Fund has grown since 2010 to approximately $600 million.

According to him, the fund has benefitted about six Nigerian companies that tapped into it for capacity development.

Wabote however declined to reveal the identities of the six companies.

“But I must say that it is not Continued on page 24

Corporate Treasurers Key to Financial Stability in 2017, Says CBN Goddy Egene The Deputy Governor, Economic Policy, Central Bank of Nigeria (CBN), Dr. Sarah Alade has said corporate treasurers hold the key to financial stability in 2017.

Speaking at the maiden breakfast meeting of the Association of Corporate Treasurers of Nigeria (ACTN) in Lagos, Alade said that the survival of the financial system rests squarely on the shoulders of corporate treasurers.

She therefore, called on the corporate treasurers to

ECONOMY avoid destructive cut-throat competition and oligopolistic dominance that could lead to failure of our banking institutions.

Alade, who spoke on “The Economic Outlook for 2017 and its impact on the Corporate Sector,” through Director, Monetary Policy, CBN, Moses Tule, urged corporate treasurers to collectively begin to take measures to fine-tune the effectiveness of the monetary policy transmission mechanism to ensure increased financial

intermediation.

“As Treasurers, you are in a vintage position to know where the shoes pinches and you can collectively address the nuances in the system. The weather ahead is not so friendly but dogged determination by your good selves would help ride the stormy headwinds,” she said.

The CBN deputy governor noted that dwindling credit to private sector in spite of the liquidity surfeit in the banking system remains a puzzle contrary to conventional wisdom.

“The headwinds I see tells me that only when you act

together would you survive the tsunami. Thus, while transparency, professionalism, corporate governance and ethics draw you closer to each other, destructive cut-throat competition and oligopolistic dominance sure prepares a nesting place for failure of our banking institutions as was the case in our recent past,” Alade said.

She stated that achieving appropriate macroeconomic policies has continued to be a great challenge to

Nigerite Limited, a complete building components solutions company and manufacturer of fibre-cement roofing (Litespan, Soloxtra) and ceiling sheets (KalsiCeil), compressed sandcrete roofing tiles (Crowntile French and Crowntile Mission), Kalsi building boards and other brands has emerged winner of Manufacturers Association of Nigeria’s (MAN) award for being the cleanest manufacturing company in Lagos State.

The award for the cleanest business environment in Lagos was organised by the Manufacturers Association Of Nigeria,(MAN) Ikeja branch among its manufacturing member companies, as part of its 49thAnnual General Meeting held recently in Lagos.

While congratulating Nigerite, the Executive Secretary, MAN, Ikeja Branch, Mr. Joseph Emoleke explained that the award was initiated to encourage manufacturers to employ safe and clean practices in the course of production in line with global best practices. According to him, the measure is part of MAN’s contributions towards environmental protection, a move he disclosed that the Lagos State Environmental Protection Agency (LASEPA) has keyed into.

“Each time we go on inspection, we go with officials of LASEPA, Federal Ministry of Environment and other regulatory bodies to ensure compliance. Based on the outcome of the awards, LASEPA has expressed commitments towards rewarding Nigerite and two other companies by relieving them of some levies. I believe this will encourage other members”, he added.

Rotary Urged to Prioritise Marketing

Members of rotary club of Lagos have been urged to find ways of attracting the youth in their quest to serve humanity. While speaking at the annual President’s dinner programme organised by the club in Lagos, the guest speaker, Mr.Richie Dayo Johnson who spoke on the theme; ‘Creating Synergy between the Media and the Social Sector for Economic Development” said time had come for the Club to rethink its approach in the way it engages with the media saying that no one deserves to celebrate its milestone other than themselves.

He said: “You need to blow your trumpet. There is a lot that rotary club can do if younger people are allowed to take the stage. We need to get out of the old ways. As a matter of urgency, we need to rethink our engagement with the media. The Club must redesign its communication so that the children can be more interested.

We have got to do things differently. We have got to bring children into the organization by finding out what interests them, “ Johnson who was once a media personality for a number of years underscored the important role the media industry has played even as he tasked members of the Club to make good advantage of the opportunity by partnering to achieve its objectives.

He said: “I can tell you that the media is ready to help. So, share whatever you have with them, tell them what outcome you would expect and be assured you will achieve it. We need to embrace the media, they will readily help you,”

Yuletide: Lafarge Preaches Safety

To further demonstrate health and safety as an overarching value, Lafarge Africa Plc, a leading construction solutions company in Nigeria has enjoined Nigerians to be safety conscious in this festive season as they cope with the attendant increase in human and vehicular movements. This call was made by the Country Chief Executive Officer, Michel Puchercos, while addressing the media at the company’s Lagos office, this week.

Puchercos emphasised Lafarge Africa’s commitment to extend its culture of health and safety beyond employees, contractors, communities, and customers to the government and the Nigerian public. “At this festive period, the Nigerian government and citizens must do more to prevent accidents and create a healthy and safe environment for the families, homes, work places, worship centres, communities, and so on.To achieve this, accident prevention, disaster preparedness, emergency response, periodic health checks as well as first aid training, are important safety measures that must be taken,” he advised.

“We are just getting ready to grab the wonderful opportunity Nigeria offered us and will offer us for sure ” Country Chief Executive Officer (Nigeria), Lafarge Africa, Plcc

Mr. Micheal Pucheros Continued on page 24

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

24

BUSINESSWORLD WABOTE: WHY SOME UPSTREAM COMPANIES REFUSED TO CONTRIBUTE TO LOCAL CONTENT FUND

directly giving money to those six Nigerian contractors; it is about guaranteeing some of the loans that they got from the banks because we are not a funding institution. We guarantee the loans they got from the banks. Not much has been expended from that fund for capacity development,” he added.

He said part of the strategies of the new board was to come out with very transparent process with which genuine Nigerian contractors involved in the oil and gas sector will have access to that fund.

CORPORATE TREASURERS KEY TO FINANCIAL STABILITY IN 2017, SAYS CBN

the monetary authorities, stressing that “the monetary authorities are currently faced with very difficult choices in the tradeoff between tackling inflation, supporting growth and exchange rate stability.”

Also speaking at the meeting, Managing Director/ CEO, FMDQ OTC Securities Exchange, Bola Onadele.

Koko, urged corporate treasurers to always articulate their problems and think of solutions to them from the investment bankers perspective.

“In 2017, private company bond rules will be published

by FMDQ. This will enable the private companies tap from the debt capital market,” he said.

Another speaker and Chief Executive Officer of Citi Bank Nigeria, Mr. Akin Dawodu, said “2017 is really just another year that corporate treasurers must be concerned about the liquidity situation of their institutions.

“That is an important factor they must all be concerned about. For Medium to Small sized Corporates, they should expect to see liquidity challenges within a tight monetary policy environment. They have to keep a focus on liquidity of their corporates,” he said.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

NEWS

BoI Earmarks N10bn at Single Digit for SMEs in Agric James Emejo in Abuja The Bank of Industry (BoI) has signed a deal with three international development partners for the development of the country’s agricultural sector.

The pact with GIZ and DFID will aid lending of up to N10 billion to small and medium enterprises in the agricultural sector.

Speaking at the signing of a memorandum of understanding (MoU) in Abuja, acting Managing Director, BoI, Mr. Waheed Olagunju said the agreement was a testimony to the bank’s support to the development of the agriculture sector.

According to him, the bank’s passion for the sector was borne out of the conviction that it holds the key to the diversification of the nation’s economy at a time of dwindling oil revenue.

He said based on the agreement, the bank would provide up to N10 billion exclusively for the acquisition of agro-equipment by either agricultural service providers or well established farmers.

According to him, the latest intervention to the sector was the largest the bank had earmarked for any product programme, noting that based

on the pact, the amount would be repaid within a five year period by beneficiaries at a nine per cent interest rate.

He said based on the agreement, micro enterprises would be able to access up to N10 million; while SMEs would access between N10 million and N50 million while medium scale entrepreneurs could ac-

cess above N50 million but not exceeding N500 million.

Olagunju added: “In recognition of the catalytic role that agro-processing plays in boosting good production, BoI in collaboration with development partners have designed a program to provide finance for agro-equipment service providers and well established

A study conducted by Ericsson ConsumerLab in October 2016 and published last week, revealed increased demand for artificial intelligence (AI) and virtual reality among consumers globally.

According to the report, consumers expect artificial intelligence to move from assistants to managers, and that virtual reality will be indistinguishable from physical reality in only three years.

The Ericsson ConsumerLab report, is the sixth edition of its annual trend report, focused on ‘10 Hot Consumer Trends for 2017 and beyond.’

Analysing the report at a press briefing in Lagos at the weekend, the Country Manager, Ericsson Nigeria, Mr. Johan Jemdahl, said that the insights in the 10 Hot Consumer Trends for 2017 report were based on Ericsson ConsumerLab’s global research activities of over 20 years, as well as data points from an online survey of advanced internet users in 14 major cities across the world, performed in October 2016. Although the study only represents 27 million citizens, their early adopter profile makes them important to understand when exploring future trends.

Reflecting on the rise of virtual reality, Head of Research, Ericsson ConsumerLab, Michael Björn, said: “Beyond real time, I believe we should be talking about reality time. In fact, what

that the bank has earmarked for any program and this is a testimony to the importance of agro mechanization in economic development of Nigeria.”

He said the programme will enable the bank create 10,000 direct jobs and 30,000 indirect jobs within the targeted period.

RENDERING ACCOUNTS

R-L: Managing Director/Chief Executive Officer, Tomi Somefun; Chairman of Board of Directors, Thomas A. Etuh and Executive Director, Secretariat & Services/Company Secretary, Aisha A. Abraham, during the 10th annual general meeting of Unity Bank Plc held in Lagos ... recently

Report Reveals Consumer Increased Demand for Artificial Intelligence Stories by Emma Okonji

farmers as well.

“It is envisaged that with better access to credit to fund acquisition of agro-equipment, there will be improved efficiency and production output in the agricultural sector.

“A N10 billion fund has been earmarked for the acquisition of agro equipment and it is the largest amount of money

we call reality becomes ever more personal and subjective.

Consumers not only surround themselves with the like-minded on social networks, but also are also starting to customise the way they experience the world with augmented and virtual reality technologies.”

According to Björn, consumers also want the future to remain fully mobile, implying that demand for battery-friendly, instant and fast connectivity is set to grow rapidly. In that sense, reality time means it is time for 5G networks.”

The report further explained that artificial intelligence has become so important that consumers see it playing a much more prominent role than before, both in society and at work. The report said 35 per cent of advanced internet users want artificial intelligence advisor at work, and one in four would like artificial intelligence as their manager.

Jemdahl listed the 10 trends for 2017 and beyond to include AI Everywhere, where 35 per cent of advanced internet users want an AI advisor at work, and one in four would like an AI as their manager. At the same time, almost half are concerned that AI robots will soon make a lot of people lose their jobs.

Another trend is about Setting the Pace for Internet of Things (IoT), which the report explained that consumers are increasingly using automated applications, encouraging IoT adoption. Two in five believe smartphones will learn their

habits and perform activities on their behalf automatically.

The next trend to watch out for is about Pedestrians Drive Autonomous Cars, where car drivers may not exist in the future. The report predicted that one in four pedestrians would feel safer crossing a street if all cars were autonomous, and 65 per cent of them would prefer to have an autonomous car.

For Merged Reality, the repot said almost four out of five virtual reality users believe that virtual reality will be indistinguishable from reality in only three years. Half of respondents are already interested in gloves or shoes that allow them to interact with virtual objects.

The report also argued that as autonomous cars become reality, car sickness issues will increase, and three in ten foresee needing sickness pills. One in three also want motion sickness pills for use with virtual and augmented reality technology.

In the area of Smart Device Safety Paradox, the report said more than half already use emergency alarms, tracking or notifications on their smartphones.

Of those who say their smartphone makes them feel safer, three in five say they take more risks because they rely on their phone.

For Social Silos, the report said people willingly turn their social networks into silos. One in three says social networks are their main source of news. And more than one in four value their contacts’ opinions more than politicians’ viewpoints.

Use Technology to Create Wealth, Ekeh Tells Nigerian Youths Chairman, Zinox Group, Leo Stan Ekeh, has called on thousands of Nigerian youth, professionals, students and entrepreneurs to embrace the numerous opportunities for wealth creation, which abound with the growing pace of digital revolution and the knowledge economy, noting that wealth has become a right for all in the 21st Century.

Ekeh made the call at a mega entrepreneurship summit with the theme “The ABC of wealth creation and sustenance in the 21st Century”, organised by the Imo State University and the Alumni Association in partnership with pioneer composite e-commerce outfit Yudala.

In attendance was the Executive Governor of Imo State represented by the Speaker, Imo State House of Assembly, Rt. Hon. Acho Ihim; Vice Chancellor, Imo State University, Prof. Mrs. Adaobi Obasi, other principal officers of the University as well as several first class traditional rulers and other dignitaries.

Ekeh, who featured as the guest speaker at the event, expressed worry about the attitude to quality education among many Igbo youths – a generational problem which he traced to parents who erroneously assumed that education delays the progress of a man.

“The political leadership of the South East for decades has bemoaned the falling enrolment in schools. However, the mindset among many seems to be: Why do we need formal education when all we have to do is find the fastest

way of making clean money.

“This mindset should change to ‘knowledge answers all’. In the 21st Century knowledge is people’s right and is the most important capital before cash,” Ekeh said.

According to him, “Wealth creation would always be about generating material values and accumulating same but the knowledge economy says to us that the processes must change. These tools are to be used to reorganise society and fire innovation. The knowledge economy has shrunk the global village even further and our aspirations must rise above the tripod of Hausa, Yoruba and Igbo battle for supremacy. The globe must be the platform for our operations and it has been since 1859 but we need to look inwards if we are to take advantage of the knowledge era.”

Ekeh, a globally renowned digital entrepreneur whose Zinox Group ranks as arguably Africa’s biggest Information and Communication Technology (ICT) conglomerate, disclosed that building a successful business requires a mix of ingredients including humility, focus, determination to take pains before pleasure, identification of one’s passion and making it commercially viable, constant innovation and a deep relationship with God. According to him, innovation, which he defined as when an invention meets a customer, represents one key success factor for many budding entrepreneurs who seek to enjoy digital wealth.

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

25

BUSINESSWORLD

MARKET REPORT

NSE Index Rises 3.4% as Stock Market Rallies for Third Week Goddy Egene and Nosa Alekhuogie The rally at the stock market continued for the third consecutive week as the Nigerian Stock Exchange (NSE) All-Share Index (NSE ASI) appreciated by 3.4 per cent to close at 26,707.10. Although the market opened for only four days as Monday was declared public holiday to mark the Eid-el-Maulud celebration, the bullish trend was sustained following investors’ swoop on oil and gas stocks due to renewed interest in the sector.

Investors’ interest in oil stocks was boosted by the decision of OPEC and non-OPEC members agreed a deal to curb their production leading to a rally in the price of crude oil.

At the end of the week, the market surged by 3.4 per cent to close at 26,707.10, while market capitalisation rose by same margin to close higher at N9.189 trillion. Similarly, all other indices finished higher during the week with the exception of the NSE Insurance, NSE Consumer Goods that depreciated by 0.53 per cent, 1.68 per cent, and 0.46 per cent in that order. The NSE Oil & Gas Index recorded the highest appreciation of 7.36 per cent following gains posted by Seplat (+20.59 per cent) and Forte Oil (+9.42 per cent).

Likewise, the NSE Banking Index followed with a growth of 6.28 per cent while the NSE Industrial Goods Index went up by 3.51 per cent.

Daily Market Performance Summary In line with its bullish trend, the equity market opened the week on a positive note, as the NSE ASI appreciated by 0.98 per cent to close at 26,071.16, lifted by gains in share prices of Seplat, Forte Oil, Access Bank, Dangote Cement and GTBank.

The total value of stocks traded on the first day was N2.41 billion, up by 47.33 per cent from N1.64 billion recorded the last trading day, while the total volume of stocks traded was 376.69 million shares in 2,885 deals.

The NSE Oil & Gas sector led the sectors, surging by 6.3 per cent on the back of on the back of increased buying interest in Seplat (+10.3 per cent ) and Forte (+10.2 per cent) while the NSE Industrial Goods Index gained 0.9 per cent. The NSE Banking Index followed suit, rising 0.7 per cent as gains in GTBank (+2.0 per cent) and Access Bank (+2.0 per cent) bolstered the sector.

On the contrary, the NSE Insurance Index fell by 0.7 per cent due to losses in AXA Mansard (-4.7 per cent) and WAPIC Insurance (-2.0 per cent).

Similarly, the NSE Consumer Goods Index marginally went down by 0.02 per cent on account of declines in Seven-Up Bottling Company Plc (-0.8 per cent).

On Wednesday, which was the second trading day, the market sustained the uptrend as the NSE ASI appreciated by 1.29 per cent to close at 26,407.64. Just like the previous day, the NSE Oil/Gas Index rose 4.4 per cent propelled by gains in the shares of Forte Oil and Seplat.

Investors traded 205.40 million shares valued at N4.28 billion in 3,275 deals. The most actively traded sectors were: Financial Services (159.87 million shares), Consumer Goods (25.34 million shares) and Conglomerates (8.10 million shares), while the most actively traded stocks were: UBA (54.69 million shares), Diamond Bank (22 million shares) and Zenith Bank

(21.18 million shares).

All sectors closed in the green save for the NSE Consumer Goods Index which lost on account of declines in Nigerian Breweries (-2.5 per cent) and Champion(-4.2 per cent). The NSE Oil & Gas Index remained the best performing sector with 4.4 per cent growth, while the NSE Banking Index appreciated by 2.3 per cent on the account of strong demand for ETI (+4.9 per cent) and GTBank (+3.0 per cent). In a similar vein, Dangote Cement lifted the NSE Industrial Goods Index by 1.0 per cent, just as the NSE Insurance Index grew by 0.5 per cent due to appreciation in the share price of WAPIC Insurance Plc. The equity market maintained its upward trend on Thursday with the NSE ASI rising for the 6th consecutive trading session. The positive performance was on price appreciation in banking stocks such as UBA (+4.8 per cent), GTBank (+4.4 per cent) and Zenith (+1.6 per cent).

Accordingly, market capitalisation rose N52.1 billion to settle at N9.2 trillion even though market activity fell as volume and value traded declined 2.6 per cent and 64.9 per cent to close at 200.0 million shares and N1.5 billion respectively.

The three most actively traded stocks were: International Energy Insurance Company (37.84 million shares), UBA (29.63 million shares) and FBN Holdings (24.04 million shares). The most actively traded sectors were: Financial Services (173.43 million shares), Conglomerates (11.99 million shares) and Oil and Gas (6.25 million shares).

The appreciation in the price of

Dangote Cement shares lifted the equity market on Friday with the NSE ASI rising by 0.56 per cent to close higer at 26,707.10. Apart from Dangote Cement, gains recorded in the share prices of ETI, Oando, Union Bank and Honeywell also

TOP TEN BROKERS(BY VALUE)

contributed to the growth.

Market turnover Despite the fact that the market opened for four days, the volume and value of shares traded increased compared to the previous week’s

AS AT LAST FRIDAY

BROKER

VALUE % VALUE

STANBIC IBTC STOCKBROKERS LIMITED

7,546,245,797.68

29.76

5,819,127,913.63

22.95

2,030,126,969.74 1,625,084,068.41

8.01 6.41

CHAPELHILLDENHAMSECURITIESLTD-BRD

670,164,631.56

2.64

VETIVA CAPITAL MANAGEMENT LTD

591,298,478.30

2.33

CARDINALSTONE SECURITIES LIMITED

582,158,690.73

2.30

RENCAP SECURITIES (NIG) LIMITED FBNSECURITIESLIMITED EFCP LIMITED

CORDROS CAPITAL LIMITED - BRD

540,387,682.18

2.13

SMADACSECURITIESLIMITED

404,567,397.06

1.60

297,264,864.32 20,106,426,493.61

2.00 79.29

CORONATION SECURITIES LIMITED

TOP TEN BROKERS

(BY VOLUME)

BROKER STANBIC IBTC STOCKBROKERS LIMITED GREENWICH TRUST LIMITED -BRD RENCAP SECURITIES (NIG) LIMITED

AS LAST FRIDAY VOLUME

%VOLUME

1,461,874,172

44.06

205,471,300

6.19

181,195,160

5.46

135,027,497 107,711,535

4.07 3.25

CORONATIONSECURITIESLIMITED

72,776,753

2.19

READINGS INVESTMENTS LIMITED - BDR

69,863,595

2.11

EFCP LIMITED

65,414,597

1.97

CSL STOCKBROKERS LIMITED

64,372,952

1.94

TRUSTBANC CAPITAL MANAGEMENT LIMITED

61,960,820

1.87

2,425,668,381

73.11

CHAPEL HILL DENHAM SECURITIES LTD - BRD CARDINALSTONE SECURITIES LIMITED

performance. Investors traded 1.656 billion shares worth N12.580 billion in 12,860 deals in contrast to a total of 894.759 million shares valued at N10.629 billion that exchanged hands in 13,418 deals the previous week.

The Financial Services Industry remained the most active with 1.504 billion shares valued at N6.183 billion traded in 7,311 deals; thus contributing 90.82 per cent and 49.15 per cent to the total equity turnover volume and value respectively.

The Consumer Goods Industry followed with 51.395 million shares worth N4.753 billion in 2,027 deals.

The third place was occupied by the Conglomerates Industry with a turnover of 46.282 million shares worth N52.408 million in 553 deals.

Also traded during the week were a total of 2.439 million units of Exchange Traded Products (ETPs) valued at N18.276 million executed in 15 deals, compared with a total of 2,850 units valued at N355,162.85 transacted the previous week in 21 deals. Similarly, total of 411 units of Federal Government Bonds valued at N428, 995.77 were traded last week in one deal.

Gainers and losers Meanwhile, 40 equities appreciated last week higher than 27 equities of the previous week. Conversely, 19 equities depreciated in price, compared with 36 equities of the previous week, while 116 equities remained unchanged higher than 112 equities recorded in the preceding week.

Honeywell Flour Mills Plc led the price gainers with 24.5 per cent, trailed by ETI with 21.1 per cent.

Seplat went up by 20.5 per cent, just as United Capital Plc, Livestock Feeds Plc and Vitafoam Nigeria Plc chalked up 11.9 per cent, 11.5 per cent and 10.9 per cent respectively.

Other top price gainers included: African Prudential Registrars Plc, Neimeth International Pharmaceuticals Plc (10.0 per cent apiece); Forte Oil Plc (9.4 per cent) and GTBank Plc (2.1 per cent).

Conversely, Portland Paints and Products Nigeria Plc led the price losers with 13.5 per cent. Unilever Nigeria Plc followed with 12.1 per cent. Fidson Healthcare Plc, Caverton and Mobil Oil shed 8.6 per cent, 8.5 per cent and 8.2 per cent in that order.

Beta Glass Company Nigeria Plc, Airline Services and Logistics Plc went down by 7.8 per cent and 5.3 per cent respectively. Avon Crowncaps Plc, AXA Mansard Insurance Plc and Cadbury Nigeria Plc rose by 5.0 per cent, 4.1 per cent and 4.0 per cent in that order.

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

26

BUSINESSWORLD

INSIDE BROAD STREET

A view of Lagos financial district

AKINWUNMI IBRAHIM

The Budget Ritual and Reality Obinna Chima As with other years, President Muhammadu Buhari last week laid before members of the National Assembly, the 2017 Appropriation Bill, which contained the government’s proposed revenue and spending for next year.

The proposed budget estimates, which were developed at a time policy makers in the country are battling to push the country out of economic recession has been viewed by some Nigerians, as a veritable instrument to drive economic recovery, if well implemented.

The president presented a proposed aggregate expenditure of N7.298 trillion for the 2017 fiscal year to the National Assembly. Part of the proposed budget estimates showed aggregate expenditure of N7.298 trillion will comprise: statutory transfers of N419.02 billion; debt service of N1.66 trillion; sinking fund of N177.46 billion to retire certain maturing bonds; nondebt recurrent expenditure of N2.98trillion; and capital expenditure of N2.24 trillion (including capital in Statutory Transfers).

A significant portion of the recurrent expenditure was provisioned for the payment of salaries and overheads in institutions that provide critical public services. The budgeted amounts for these items included N482.37 billion for the Ministry of Interior; N398.01 billion for Ministry of Education; N325.87 billion for Ministry of Defence; and N252.87 billion for Ministry of Health.

The 2017 Appropriation Bill was based on a benchmark crude oil price of US$42.5 per barrel; an oil production estimate of 2.2 million barrels per day; and an average exchange rate of N305 to the US dollar. Based

MARKET INDICATOR on these assumptions, aggregate revenue available to fund the federal budget is N4.94 trillion. This was 28 per cent higher than 2016 full year projections. Oil is projected to contribute N1.985 trillion of this amount.

Similarly, non-oil revenues, largely comprising Companies Income Tax; Value Added Tax; Customs and Excise duties, and Federation Account levies were estimated to contribute N1.373 trillion.

To the President, Manufacturers Association of Nigeria (MAN), Dr. Frank Udemba Jacobs, his association appraised and considered the 2017 proposed budget as a tool that is capable of helping the economy to recovery due principally to the importance accorded capital expenditure with the value of N2.24 trillion, which accounts for 30.7 per cent of the total budget.

This position, according to him, was further reinforced by the emphasis placed on resource-based production and conscious patronage of Made-in-Nigeria products by the government.

“However, since the budget intends to generate a total sum of N1.373 trillion from CIT, VAT, Customs & Excise Duties and Federal Account Fees for the period, MAN is of the opinion that tax rate should not be increased and no new tax should be introduced; rather the Government should reduce the current CIT and widen the tax net,” he added.

Among other things, the MAN boss urged the government to ensure Public Private Partnership (PPP) through the establish-

ment of Concession Agreements under Built-Operate-Transfer (BOT) in road and rail construction and maintenance, rather than expending the scarce resources on these projects alone, timely release of capital expenditure funds to the MDAs, as well as ensuring effective evaluation and monitoring of capital projects so that the nation can obtain value for money.

The CEO, Financial Derivatives Company Limited, Bismarck Rewane, said the budget estimates were a “step in the right direction.”

However, Rewane pointed out that “in terms of its quantity, you need more than a 20 per cent increase in expenditure to move the economy.”

He explained further: “ In other words, if you use the exchange rate differentials, the level of depreciation between last year and this year is about 40 per cent, from N199 to N305, while you increase your expenditure to 20 per cent. So, you need to do at least a 35 per cent increase in expend ure to bring it to bring it to zero. So, you need at least a 50 per cent increase in expenditure between 2016 and 2017 to have an impact.

So, anything less than that is actually a contraction in expenditure.”

But in his reaction, the Director General of the Lagos Chamber of Commerce and Industry (LCCI), Mr. Muda Yusuf, welcomed the policy pronouncements components of the budget proposal. These he listed to include the comment by the president that there would be more coherence between fiscal and monetary policy, the decision to continue the Joint Venture Cash Calls as a mode of financing the upstream oil and gas sector, the restoration of the Export Expansion Grant, the restatement of the

federal government’s commitment to public-private partnership, as well as the preparedness by the government to settle the debt it owed the power firms.

Continuing, the LCCI boss also said the assumption of oil price of $42 per barrel was okay, adding that the assumption of oil output of 2.2 million barrels per day “looks a bit optimistic given the challenges of the Niger Delta.”

“But we are hoping that because of thhe upward review in the amnesty budget, maybe it will have some positive impact on the peace in the Niger Delta. The exchange rate of N305 to the dollar is not the market rate, but I think it is something that we can live with for purpose of budgeting.

The provision for debt service is one the high side. This shows that the problem of debt service would continue to be a burden to the economy,” Yusuf added.

Also commenting on the assumption of crude oil benchmark, the CEO of Cowry Assets Management Limited, Johnson Chukwu said: “This is a very optimistic budget. Crude oil is doing about $55 per barrel today and even in worst case scenario and I believe if OPEC sticks to its decision to cut production and if we able to address our local production, I believe that crude oil price should range around $50 per barrel. So, the $42 per barrel assumption to me is realistic. But to me it would be an exceptional occurrence if we meet the volume of production. This is because even if you stop the crisis in the Niger Delta, you are still going to take some time tk restore those oil facilities to their production level.”

On his part, the Chief Consultant Biodun Adedipe Associate Limited, Dr. Biodun Adedipe, described the proposed budget for 2017 as “good direction in terms of volume, good direction in terms of structure and of course, good direction in terms of emphasis. So, the important thing is to encourage the government to continue in that direction in terms of sectors to focus on, and then putting emphasis on capital expenditure.”

But analysts at Renaissance Capital Limited argued that the flaws in the proposed budget emerged when they looked at the revenue projections, describing it as an ambitious 28 per cent increase to N4.9trillion – particularly when the government has failed to meet its 2016 target, due to low prices in first quarter of 2916 and disruptions to crude oil production.

“At September, revenue was 25 per cent below the pro-rata full year 2016 target. To the federal government’s credit, it revised down its independent revenue projection for full year 2017, which at N807 billion is almost half that projected for full year 2016.

Even the non-oil revenue projection is five per cent lower. However, this pragmatism was countered by a 140 per cent increase in the government’s oil revenue projections, to N2 trillion. This may in part be due to an optimistic assumption of oil production of 2.2million b/d, which the country has failed to achieve since 2014.

This assumption is partly mitigated by a modest oil price assumption of $42.5/ bl,” they added.

Despite these positive outlook, the real question that we will face in the coming days is whether we can trust the lawmakers as well the executive to take wise budgetary decisions that are in the wider, long-term interests of citizens rather than in the narrow, short-term interests of politicians and organised lobby groups.

Over the years, the poor process of budget passage into law by members of the National Assembly, as well as poor implementation by the executive arm have sabotaged key public infrastructure. This has continued to affect businesses as their plans are usually distorted by the weak budget implementation process. Equally, members of the civil society must ensure that they are actively engaged in budget monitoring to put the executives on their toes.

Clearly, the antiquated and often dysfunctional nature of budget process in the country leaves the country to selfinflicted economtic ddreadful which must be addressed for the nation to make any meaningful economic progress.

T H I S D AY Ëž MONDAY, DECEMBER 19, 2016

28

BUSINESSWORLD

INTERVIEW

Puchercos: Collapsed Buildings are Caused by Ready Mix, Not Cement The Country Chief Executive Officer (Nigeria), Lafarge Africa, Plc, Mr. Micheal Pucheros, spoke with Nosa Alekhuogie on his current involvement with the company and sundry issues in cement manufacturing

Puchercos Tell us about yourself and background?

My name is Michel Puchercos, I am a French national and an engineer by training.

I have worked in South Korea, Kenya and Uganda, Tanzania, and France, and speak various languages including French, English, Korean, Spanish and Swahili.

In the course of my career, I have had extensive operational and strategic experience both at junior and senior levels with small and medium organizations, cooperatives in Europe, Asia and Africa. I came into Lafarge as Head, Strategy and Purchasing in Orsan, Lafarge Biochemistry, and in 1998 became Director of Cement Strategy and Information Systems, Lafarge Gypsum. In 2003, I became the Director of Cement strategy, Lafarge Group in France. I moved into cement operations in 2005 as the CEO for Lafarge operations in Kenya and Uganda while doubling as the Chairman of Tanzania operations.

After four years in Sub-Saharan Africa, I moved to Asia as the President and CEO of Lafarge South Korea, where I remained for seven years.

I came into Nigeria as Country CEO for Lafarge Africa Plc in April, this year.

What are your visions and what experience are you bringing into Lafarge Nigeria?

This balance experience is really useful in terms of strategy and operations. So performance improvement is very important for someone with a strategic vision to prepare the future and balance. The year 2016 was a very challenging year from operations stand point, gas shortage, foreign exchange issues, to name a few. These

are real operational issues when you have no gas to run the plant, what do you do? These are typically short term decisions. Now if you look at it, what does it mean for Lafarge in Nigeria to face these gas shortages, how do you anticipate the future? This is where operational skills and strategic vision can help and I bring this balance being able to harness both. I bring to some extent some knowledge of Africa. I am very humble. I know that East Africa is not Nigeria, I know I have only four years of experience in East Africa so I would not say I know Africa but it helps and having seen from customers point of view, if you go to south Korea, 95 per cent of cement is sold in bulk tankers to ready mixers, this is on the extreme.

On the other hand, I would say in Nigeria, 95 per cent is sold as bags, few percentage to contractors and very small quantity to ready mix. So, I have seen the extreme end and I know where we stand at, so it helps me see the way forward because I know this is the way the market will change.

I am not here to change the narrative because this is a natural transformation of the cement market all over the world.

It started with bags then retail and distribution then it moved to contractors, infrastructures, develop, then you end up in Europe, Asia or United States of America with ready mix. With this being very strong, cement is sold to ready mix then being in the ready mix business becomes a very strategic decision . I guess this is why my predecessors started developing ready mix in Nigeria to anticipate that move and be closer

to customers so this commercial experience is what I bring to Nigeria.

What are your projections for Lafarge in the year 2017?

Recession is impacting the country, foreign exchange scarcity is also impacting a lot on top of the recession itself and usually when a country enters recession for sometime, the cement market would not be impacted or to some extent cement market may enjoy the recession because people would start building. If there is recession it is better, but there is a limit because recession keeps on biting then this is when the cement market keeps decreasing, suffering from recession and at the opposite when economy starts picking up then you have some lagging effect because you have projects which takes time to prepare, the financing, approvals then again you can see the consumption restarting later. So the timing of the crisis and the timing of the cement market are different.

We can say the beginning of 2016 was good but then we are suffering from the recession with the cement market declining. I don’t see the country getting out of recession (immediately) but I am happy to know how other people see things in terms of recession. If the recession does not end in 2017, I expect cement market in 2017 to be depressed and the market would grow very strongly maybe three to six months after recession ends. I do not know when recession would end so it is very difficult to tell you much about 2017,I know we are suffering now and if recession stops, the cement market should

re-start very strongly because if you look at it long term, Nigeria is really a wonderful market for cement players. You have 180 million inhabitants, low consumption, you have needs for infrastructure, needs for housing, you have resources, oil, gas,also, on the agriculture side, you are powerful.

Before 1970, Nigeria was feeding the whole Africa so I am sure it would happen again.

There are lots of resources and as a consequence, consumption being low today compared to other countries in terms of standards so there is no doubt that Nigeria has huge potentials in terms of cement market and using that potential might be the issue.

We are quite optimistic that all the indices will get better in 2017, and there will be overall improved performance.

In terms of expansion, what is the impact of your integration on the volume you are expected to do in Nigeria?

This integration basically is in the case of UniCem, Ashaka and WAPCO were already part of Lafarge.

Unicem was more complex in structure and engineered by 50 per cent LafargeHolcim when it is part of Lafarge Africa, WAPCO and Ashaka.

One of the benefits is speeding up exchange of best practices and bringing all elements to the highest standard in our group be it safety or production and it also helps to bring in Capex and sharing resource in terms of human CONTINUED ON NEXT PAGE

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

29

BUSINESSWORLD

INTERVIEW

PUCHERCOS: COLLAPSED BUILDINGS ARE CAUSED BY READY MIX, NOT CEMENT resources so that all three can enjoy the best pool of talents. These are the intentions and what I see happening, Nigeria is a complex country, there are different tribes and religions and managing assets in the Yoruba region, Efik and others makes it more difficult .These has to be underground to pay attention to these local differences which are very important if you want to be successful not just coming with already well thought through ideas in the corporate level.

How have you managed competition so far?

All competitors have over capacity including ourselves because we have just inaugurated a brand new plant in Calabar. The formal inauguration has not yet taken place but from the technical standpoint, it was successful in terms of budget and delivering technical performance is over the specifications. It is a very successful investment in terms of shortages. For mid- term integration and performance, this is more important and to prepare the future in the best way possible.

In terms of power and energy, we suffered in 2016 from lack of flexibility because when there was no gas, we could not run the plant which impacted our results very badly as we have explained to financial journalists in our first quarter , second quarter and third quarter results.

We changed dramatically our production scheme by introducing more flexibility by using coal and to some extent LPFO so that we have what is called fuel flexibility and even though gas supply as we know is not back to a 100 per cent since July we are able to run all our cues using diversified sources of energy. It doesn’t mean they are the cheapest but we can produce and at least the customers are not starving and we are able to keep the relationship with them which is much more important than the cost which we produce the cement.

On the power side, you saw the investment we announced at Ashaka with the plans to produce power, we have seen our set up in the East and West in other to compensate some weaknesses the national grid has and we are better off producing our own electricity so it’s a relief .We have to be self -sufficient because the nation needs a lot of energy. The very key investment was the one at Ashaka which the kick off was last month.

Your results have been negative, how do you intend to improve on this going forward?

We suffered in 2016 from both internal and external issues. External issues, mainly the gas shortage, but also the foreign exchange situation and internally, mainly, we suffered from all sorts of industrial issues with maintenance not properly done and also like I just explained when you don’t have the fuel flexibility, you may suffer from that translating to lack of production if you don’t have enough gas which of course impacts the results. So we have been addressing these items one after the other. So, in the case of the fuel flexibility, we have increased the industrial output so that July through November, the plants can record high production volume. I believe if these problems are behind us, logistics would improve as well.

Transporting cement is a challenge knowing that the road conditions are very bad and the trucks are breaking down constantly and if you want to bring in new trucks then you face the foreign exchange issue. So we worked on fuel flexibility, industrial issues, logistics, foreign exchange. If you remember, N500 million loan on UniCem and we were able to turn it into equity which does not impact profit and loss anymore. We negotiated credit lines with the group, in other to be able to pay our suppliers even though there is a local foreign exchange crunch and last but not the least, we also improved industrial fixed cost by significant reduction. So with improvement in all these fields, let’s wait to see the Q4 results which should not be too disappointing.

How do you access doing business in the Nigerian environment?

This is a very complex environment and more than complex, it is also a very promising environment. Our locations in the North, South, South east and South west. We are in a very promising region, Ashaka in the north, north east and government wants to develop the North east, we have a plant in the North east. South

TOP 10 CAR BRANDS IN NIGERIA

1

1 2

TOYOTA:

3

4

Toyota is the most famous and most loved brand in Nigeria with models like the Camry, Corolla, Land Cruiser and much more.

5

BMW:

2

The Bayerische Motoren Werke which means Bavarian Motor Works in English , is another brand known for its durability in Nigeria.

Howevder, owning one is a pocket pincher especially when it needs a part replaced.

HONDA:

With a variety of models like the Accord, Civic, Pilot and many more, Honda has secured a lasting presence in the Nigerian auto market.

3 KIA:

Founded in South Korea, KIA is one of the fastest rising brands in Nigeria.

6

7

8

9

10

4 HYUNDAI :

Known as the second brand under the Hyundai Motor Group.

Like Kia, is known for being a top car brand used officially in Nigeria.

5 MERCEDEZ BENZ:

At one time in Nigeria, every family that could afford two cars, had a Mercedes Benz as the other car.

The brand is known for its durability.

Mercedes Benz is still one of the highest selling brands in Nigeria.

6 NISSAN:

With the models like Maxima, Altima, Murano , Nigerians have taken a liking to the Japanese automobile brand and are showing it by purchasing the latestmodels on a yearly basis.

7 VOLKSWAGEN: (VW): Since the time of the beetle, Volkswagen (VW) is a brand that has been saluted in many ways especially with its durability.

RANGE ROVER: The brand has been around since 1978, the model Range Rover spiked the brand to this list. The Land Rover Company is owned by the Indian company Tata Motors which in turn forms the Jaguar Land Rover (JLR) group.

8

FORD and CHEVROLET : When you see these cars on the streets of Nigeria, the all American power shows their own influence.

Ford is the fifth highest brand sold in the world and the second in the US..

9 10

Puchercos west, we have double capacity and ready to grab all opportunities of development. For me, we have efficient plants well located and in all these regions we have potential which of course is hidden by the 2016 recession and foreign exchange. For the time being, we are coping with this situations. Of course if it becomes national drama, we would most likely be impacted as well but we are still managing, we have improved everywhere we needed to improve and the Q4 results would show it. We are just getting ready to grab the wonderful opportunity Nigeria offered us and will offer us for sure. No doubt, infrastructure, housing, roads, there are needs everywhere.

What do you have in the offing for corporate social responsibility (CSR)?

I used to say how many businesses, industries or shops in your life have you seen being 50 years or more in the same place. Hotels, restaurants do not stay 50 years in the same place, they close, reopen or move.

The cement industry in 50 to 100 years stay in the same place as well as the plant next to it meaning that if you do not live hand in hand with communities and people around you, you will never survive. It just not possible because these neighbours would be part of your life and vice versa because we have been so close to each other for decades unlike many other businesses as they have probably moved to other cities but we are the same place and so many people in calabar. So I feel social responsibility when discussing with people, the local government, I feel accountable doesn’t mean that I am perfect so we need to improve. For me, the CSR is as important as certain skills of our engineers because we have hundreds of trucks crossing villages, children crossing the roads when the trucks are coming, potential pollution. We are offering health services in Ashaka to the communities, people queuing up in the morning waiting for health services from our clinic. So, maybe, we are number two after the local government. This goes well beyond industry, efficiency, profit. It has been part of the local life. As I told you, when I was a young, I was a civil servant so I know what helping country development entails and giving your life to the nation and this is kind of filling an edge in the cement industry especially Nigeria of course calabar and Ashaka are much more important than anywhere else because we know they are the only ones employing people miles away all around.

With issues of foreign exchange in Nigeria, what solutions are being proffered to cushion this effect?

How do you manage risks in safety? The best solution is to eliminate the risks. In this case, how do you eliminate the risk, it is by buying more naira rather than dollar. It cuts across everything. If we can buy local coal, then we buy local coal and have local talents.

I’m talking from my expertise side. So I know what I’m talking about in terms of preparing the future so when there are local talents you take local talents when you have loans, you find solutions either to turn them into naira to increase equity or you find ways of reducing the risks which is removing the US dollar and putting naira suppliers, having people pay in naira, so this is our strategy.

Another way is exports, because if that is done, we would have access to US dollar and it would help us. So we are exploring all these avenues and eliminating the risks.

Ashakacem, one of your operations in being delisted from the Nigerian Stock Exchange (NSE), what is the reason for is?

There are two reasons for this. One, we have the legal reasons and if I am not mistaken, we have 25 per cent free float to be listed and Ashaka currently has 15.03 per cent which is well below the level. The NSE, a couple of times have told us from a legal point of view that we are not abiding by the rule and we have to do something. Delisting is the answer.

Second reason is that we want to offer Ashaka shareholders a wider and better future. The company will not disappear but rather than being shareholders of a much smaller company with less financial capabilities, they are offered the opportunity to becoming shareholders of Lafarge Africa managing both north, south west and south east. So for me, its inviting them to a wider future much more promising and much more motivating so rather than being cornered in a small company we give them the offer of exchanging their shares for Lafarge Africa shares. It is a very attractive deal if you look at it from a financial point of view. So for them the exchange is interesting financially and the future is much more better because you sit around the table of a much wider community and you can enjoy potential of Nigeria.

So for me we are offering them, to be part of a bigger better future with more opportunities.

How much of your raw materials are sourced

locally?

I can tell you lime stone is sourced here a hundred per cent and it is the number one raw material, when I said we should use local coal, this was my answer to you. Iron-ore comes locally already. Honestly, everything we can source locally, we do it. As for remains and spare-parts, sadly there is no skills in cement industry in Nigeria, so most of the spare parts come from abroad. Some talents when we need to recruit people which I don’t know if it can be equated to raw materials, but everything that needs to be sourced locally is sourced locally.

What impact is the opening of the Calabar plant expected to have on your production capacity?

The production capacity expected is 2.5 million tonnes capacity more. Honestly, knowing that today’s total market is impacted by the recession, it looks like it is not the perfect time to bring in capacity but with my experience in cement I know it is the right time to bring in capacity is recession time because then you are ready when the market picks up, but when you wait for the market to start then, you are already late because it takes three years to build up the capacity and when you are three years late, you can fulfil the customer’s needs. So I’m very happy to have this capacity available now because I know when the market starts in 2017, 2018, we are ready to supply 2.5 million tonnes more. Of course as we produce more, at the same time we buy more local materials, we have more transport and we give more work to local people and local communities.

With the number of collapsed building incidents in recent times, what is your view on this?

The issue of collapsed building comes from ready mix. It doesn’t come from cement. It is more of the contraction techniques which are not properly handled and the concrete design was not well done then we have the perfect answer to this question because we have already mixed network, skills in terms of mixed design and capability to teach. So for me, the best way to avoid collapsed building is to buy ready to mix from Lafarge Africa because you have the right mixed design for proper use, be it foundations, first floor, second floor and we are discussing with construction companies to know their real needs in other to provide the concrete which needs technical requirements including the laboratory to test the quality and we have the best lab in terms of concrete analysis to provide the right specifications for every single job.

30

MONDAY DECEMBER 19, 2016 T H I S D AY

1,*(5,$1 %8/. (/(&75,&,7< 75$',1* 3/& 6(37(0%(5 (/(&75,&,7< 0$5.(7 3$<0(176 7KH 1LJHULDQ %XON (OHFWULFLW\ 7UDGLQJ 3OF 1%(7 DND ³7KH %XON 7UDGHU´ ZDV HVWDEOLVKHG WR EH D FDWDO\VW LQ WKH GHYHORSPHQW RI D YLEUDQW ZKROHVDOH PDUNHW WKURXJK EXON SXUFKDVH DQG UHVDOH RI HOHFWULFDO SRZHU DQG DQFLOODU\ VHUYLFHV IURP ,QGHSHQGHQW 3RZHU 3URGXFHUV ,33V DQG VXFFHVVRU *HQHUDWLRQ &RPSDQLHV *(1&26 WR 'LVWULEXWLRQ &RPSDQLHV ',6&26 DQG RWKHU HOLJLEOH FXVWRPHUV $ NH\ WKUXVW RI WKH (OHFWULFLW\ 3RZHU 6HFWRU 5HIRUP $FW (365$ LV WR FUHDWH D FRQGXFLYH WUDQVDFWLRQ HQYLURQPHQW DQG ERRVW LQYHVWRUV FRQ¿GHQFH LQ WKH SRZHU VHFWRU ZKLFK KDSSHQV WR EH D NH\ PDQGDWH RI 1%(7 7R IDFLOLWDWH WKLV PDQGDWH 1%(7 VKDOO FRQWLQXH WR SURYLGH DFFHVV WR UHOLDEOH LQIRUPDWLRQ WKDW ZLOO HQDEOH LQFUHDVHG FROODERUDWLRQ DQG WUDQVSDUHQF\ LQ WKH 3RZHU 6HFWRU

SOHDVH YLVLW RXU ZHEVLWH IRU PRUH GHWDLOV ZZZ QEHW FRP QJ

7KH 6HSWHPEHU (OHFWULFLW\ 0DUNHW 3D\PHQWV GHWDLOV DV VKRZQ LQ WDEOHV EHORZ UHSUHVHQWV WKH UHYHQXH Ã&#x20AC;RZ IRU WKH ZKROHVDOH HOHFWULFLW\ PDUNHW WKH FRVW RI HOHFWULFLW\ JHQHUDWLRQ *(1&2 ,QYRLFHV ',6&2 ,QYRLFH YDOXH DQG SD\PHQWV UHFHLYHG IURP WKH PDUNHW L H SD\PHQW IURP ',6&2

T H I S D AY MONDAY DECEMBER 19, 2016

31

32

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

33

MONDAY, DECEMBER 19, 2016 Ëž T H I S D AY

34

BUSINESS/MONEYGUIDE

Global Community Makes $75bn Commitment to End Extreme Poverty Obinna Chima A coalition of more than 60 donor and borrower governments have agreed to ratchet up the fight against extreme poverty with a record $75 billion commitment for the International Development Association (IDA), the World Bankâ&#x20AC;&#x2122;s fund for the poorest countries. â&#x20AC;&#x153;This is a pivotal step in the movement to end extreme poverty,â&#x20AC;? World Bank Group President Jim Yong Kim said in a statement at the weekend. â&#x20AC;&#x153;The commitments made by our partners, combined with IDAâ&#x20AC;&#x2122;s innovations to crowd in the private sector and raise funds from capital markets, will transform the development trajectory of the worldâ&#x20AC;&#x2122;s poorest countries. We are grateful for our partnersâ&#x20AC;&#x2122; trust in IDAâ&#x20AC;&#x2122;s ability to deliver results.â&#x20AC;?

The funding will enable IDA to dramatically scale up development interventions to tackle conflict, fragility and violence, forced displacement, climate change, and gender inequality; and promote governance and institution building, as well as

jobs and economic transformationâ&#x20AC;&#x201D;areas of special focus over the next three years. These efforts are underpinned by an overarching commitment to invest in growth, resilience and opportunity. â&#x20AC;&#x153;With this innovative package, the worldâ&#x20AC;&#x2122;s poorest countries â&#x20AC;&#x201C; especially the most fragile and vulnerable â&#x20AC;&#x201C; will get the support they need to grow, create opportunities for people, and make themselves more resilient to shocks and crises,â&#x20AC;? World Bank Group Interim Managing Director and Co-Chair of the IDA18 negotiations, Kyle Peters said. â&#x20AC;&#x153;IDAâ&#x20AC;&#x2122;s focus on issues like climate change, gender equality and preventing conflict and violence will also contribute to greater stability and progress around the world.â&#x20AC;?

Financing during the IDA18 replenishment period, which runs from July 1, 2017 to June 30, 2020, is expected to support essential health and nutrition services for up to 400 million people; access to improved water sources for up to 45 million people; inancial services for 4-6 million people, safe

childbirth for up to 11 million women through provision of skilled health personnel, and training for 9-10 million teachers to benefit 300+ million children. â&#x20AC;&#x153;IDA is writing a whole new chapter in the story of development,â&#x20AC;? IDA18 co-chair and Togoâ&#x20AC;&#x2122;s former Minister of Development, Dede Ekoue said. â&#x20AC;&#x153;Together with donors, working hand-in-hand with borrower governments, we are putting forward an innovative, ambitious and responsive package of support that gives hope to the poorest. These interventions will help transform the lives of billions of people living in IDA countries.â&#x20AC;?

To finance this groundbreaking package, IDA is proposing the most radical transformation in its 56-year history. For the first time, IDA is seeking to leverage its equity by blending donor contributions with internal resources and funds raised through debt markets. By blending concessional contributions from donors with its own resources and capital market debt, IDA will significantly increase the financial support it provides to clients.

Fidelity Bank Promotes Savings Culture The Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mr. Nnamdi Okonkwo, has restated the bankâ&#x20AC;&#x2122;s commitment to continue to support and encourage savings culture and financial inclusion in the country.

Okonkwo said this during the presentation of cash and gifts to winners in the first quarter edition of Fidelity Bank Plcâ&#x20AC;&#x2122;s â&#x20AC;&#x2DC;Get Alert in Millionâ&#x20AC;&#x2122; promo draws held in various regions of the country recently.

The bank CEO was represented by the Executive Director, Shared Services and Products, Fidelity Bank Plc, Chijioke Ugochukwu.

He explained that the promo which was the sixth in series the bank has conducted in the last nine years was structured to make savings accounts holders millionaires. â&#x20AC;&#x153;The promo has become

a pillar of financial inclusion in Nigerian economy. In this promo, we took monthly and quarterly draw. We produced the first prize winner in the quarterly draw. In total 19 winners emerged across the nation,â&#x20AC;? he said.

The bankâ&#x20AC;&#x2122;s Regional Head and Chairman of Promo Committee, Mr. Obaro Odeghe said the promo has been a success story and encouraging, adding that it was part of efforts in supporting encouraging culture of savings in Nigeria and empowering the customers especially during this period of recession.

He explained that to qualify for the monthly and quarterly draw an existing customers are to pay in N10,000 into his or her account for the monthly draw while N50.000 qualifies one for the quarterly.

Odeghe noted further that

new customers are required to open an account for with N20.000 to be qualified for monthly draw.

He added that the promo was introduced to help penetrate and advance financial inclusion in the country.

The lucky winners which emerged from a transparent draw witnessed by officials from Consumer Protection Council (CPC) and others went home with different prizes.

Total of 19 people emerged winners of various cash prizes and other consolation prizes including a star prize of N5 million which was won by Mr. Salman Umar Musa of University of Maiduguri branch. Customers that were rewarded with cash prizes for the third promo across the country were Rahama Yenusa Tahir from Maiduguri Branch Borno State, North that won N1 million.

Moon

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

JUNE 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 Ëž Ă&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

MANAGED FUNDS

CBT Partners Sterling Bank on JAMB Registration Students sitting for the 2017 Joint Admission and Matriculation Board (JAMB) examination for the first time in many years, would have reasons to cheer as Computer â&#x20AC;&#x201C;Based Test Centre Proprietorsâ&#x20AC;&#x2122; Association of Nigeria (CPAN), an association of CBT owners in Nigeria has announced its partnership with Sterling Bank Plc, for the seamless registration of students ahead of 2017 UTME. The appointment of the bank, was based on its laudable contributions towards the development of the education sector in Nigeria and the impact on the major stakeholders across the value chain.

The Associationâ&#x20AC;&#x2122;s Chairman, Sage Udebuami, who disclosed the appointment of bank in a statement said the decision of the association to partner with Sterling Bank was also based on its capacity, commitment and provision of infrastructure

needed for the consistent growth of the sector especially in the last three years.

His words: â&#x20AC;&#x153;It is a known fact that we have our challenges. To help checkmate these challenges, we have decided to look in the direction of Sterling Bank. We are confident that with its robust IT platform that suits the new model recently introduced by JAMB for adoption by our members, seamless process for the registration of students sitting for JAMB next year is guaranteed.â&#x20AC;?

He expressed confidence that the partnership with Sterling Bank would reduce the turn-around time for the registration of students, reduce cost of operation for CTB owners and increase savings for JAMB. In his remarks, the Sterling Bankâ&#x20AC;&#x2122;s Head of One Education Mr. Adolphus Abraham said the Bank is delighted to be associated with the CBT owners assuring

that the Bank has already put in place the right technology, platforms and competent human resources to ensure the delivery of quality service.

The coming on board of Sterling Bank, according to him, would enhance the process of registration and sales of forms and further support the over 500 CBT owners to fully understand the process of registering over 1.5 million students with the use of the new model recently introduced by JAMB. â&#x20AC;&#x153;JAMB recently introduced a new model for the registration of students siting for exams. With this partnership, Sterling Bank will provide the right technology and other infrastructure including logistics to ensure that the process is flawless. It would also give us the opportunity to bring our expertise to bear on the success story of JAMB in deploying education services,â&#x20AC;? he added.

Initial Price (N)

Buying Price(N) 1,660.29

1,685.29

1,000.00

11,002.32

11,326.67.11

Stanbic Balanced Fund Stanbic IBTC NEF

Selling Price

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 % ) Ëž Ă&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT 15 DECEMBER 2016 The price of OPEC basket of fourteen crudes stood at $50.96 a barrel on Thursday, compared with $51.83 the previous day, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

MONDAY, DECEMBER 19, 2016 ˾ T H I S D AY

35

MARKET NEWS

MeriTrade Emerges Investors’ Favourite Online Trading Portal Goddy Egene and Nosa Alekhuogie An online trading portal launched by Meristem Securities Limited in 2014, MeriTrade, has been adjudged by investors as the number in the capital market.

According to a survey carried out on online trading portals in the Nigerian stock market by Proshare Limited, MeriTrade

emerged the best in all the criteria used. Easy Trade by Investment One came second while Afrinvestor by Afrinvest Securities Limited came third.

Proshare said the online portal survey was carried out between November 4 and 22, 2016. Proshare carried out a customer survey for 18 days in order to get direct feedback from customers that make use of

T H E

the various platforms. In order to obtain accurate information from the various brokerage firms, Proshare also sent out letters and emailed the same content to the brokerage firms.

“Out of all the brokers contacted, only 13 responded to our letters and emails. They include Meristem Securities, Stanbic IBTC Stockbrokers, Lead Securities, CSL Stockbrokers,

N I G E R I A N

Afrinvest, Investment-One, Cordros capital, WSTC Financial Services, APT securities, Capital Bancorp, Greenwich Trust, TRW Stockbrokers and ARM Securities,” the company said.

Proshare used four criteriatechnology, accessibility, services and fees and benefits-for the ranking and in all, MeriTrade emerged first.

In terms of technology, speed

STO C K

of execution, 52.5 per cent of the responses rated very fast, 40.6 per cent fast; 6.0 per cent slow and 0.9 per cent very slow.

Among the platforms rated very fast, MeriTrade emerged first followed by Easy Trade, while Cordros came third. Afrinvestor(fourth); APTe-Trade(fifth); LeadTrad er(sixth);ARMStocktrade(sev enth); MyTradebook(eigth); Morgan Capital(ninth) and

E XC H A N G E

StanbicIBTC(10th).

The platforms that received yes from respondents were led

by MeritTrade, followed by EasyTrade, while Afrinvestor placed third.

Others are: APT e-Trade (fourth); Cordros(sixth); MyTradeBook(seventh); Morgan Capital(eigth); ARMStockTrade(nineth) and StanbicIBTC(10th).

Ë&#x153; ͚ΠË&#x153; ͺ͸͚͞ Ëž T H I S D AY

36

MARKET NEWS

Air Liquide Dematerialises Share CertiďŹ cates to Boost Trading Goddy Egene Air Liquide Nigeria Plc, a company being traded on the NASD OTC Securities Exchange is dematerialising its share certificates. The dematerialisation is being done in collaboration with the Central Securities Clearing System (CSCS) Plc. In a notification to market operators and shareholders at the weekend, NASD urged stockbroking firms, who have shareholders of Air Liquide Plc   clients to visit the secretary of the company to for

the dematerialisation.

Already shareholders of companies traded on the Nigerian Stock Exchange (NSE) have already been enjoying  dematerialisation, which is the process of converting share certificates into electronic format.

The General Manager, Operations, CSCS, Mr. Joe Mekiluwa recently said over 98.4 per cent of  share certificates of quoted companies on the NSE have been  dematerialised in the CSCS depository.

According to him, the CSCS

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 â&#x20AC;&#x2DC;sharesâ&#x20AC;&#x2122; on the

is working assiduously with registrars to ensure that full dematerialisation is achieved as targeted. â&#x20AC;&#x153;Efforts are geared towards assisting the relevant registrars to ensure that the remaining, although seemingly infinitesimal, are firmly attended to so as to achieve 100 per cent success rate before the end of this year 2016,â&#x20AC;? he said.

He explained that in order to address various problems associated with share certificates such as delay in issuance,

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-Dec-2016, unless otherwise stated.

verification, loss, theft, and forgeries, among others, the Securities and Exchange Commission (SEC), in partnership with other stakeholders, resolved to eliminate these problems by opting for the full dematerialisation of share certificates. â&#x20AC;&#x153;The full dematerialisation move is aimed at completely eliminating existing physical share certificates in the Nigerian capital market and putting to an end the issuance of new share certificates. The registrars of companies, who are involved

in the implementation process, are required by SEC to turn in the registers of all companies they manage to the CSCS depository within a given period of time.

For the shares to be accessed by the shareholders in their accounts under a stockbroking firms, shareholders are required to instruct their registrars, through their brokers, to migrate such shares to their accounts with the stockbroking firms,â&#x20AC;? he said.

Mekiluwa urged shareholders to approach the stockbroking firms of choice, obtain and fill

in a migration form which will be forwarded to the registrar to enable them to advise the CSCS to migrate the shares to the shareholderâ&#x20AC;&#x2122;s account with the stockbroking firm and the shares are migrated by the CSCS as advised.

He said that apart from reducing the incidences of forgery, theft and loss of share certificates, dematerialisation would  also bring other benefits such as immediate availability of the shares for trading as soon as mandate is given to the brokers.

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 125.84 Nigeria International Debt Fund 221.29 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 0.70 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 126.85 15.52% 222.66 10.58% info@acapng.com Offer Price Yield / T-Rtn 0.70 13.21% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

17.41%

enquiries@arminvestmentcenter.com Bid Price 12.34 287.58 22.25

Offer Price 12.71 296.26 22.92

Yield / T-Rtn 1.24% 2.89% 0.91%

1.00

1.00

16.51%

investmentcare@axamansard.com Bid Price 108.07

Offer Price 108.74

Yield / T-Rtn 8.41%

1.00 1.00 15.51% investmentmanagement@chapelhilldenham.com Bid Price 2.14 9.16 83.17

Offer Price Yield / T-Rtn 2.19 5.10% 9.39 -7.06% 85.30 2.54% invest@fbnquest.com

Bid Price 1,083.08 109.93 100.00 $104.03 $103.34

Offer Price 1,084.28 110.60 100.00 $104.26 $103.56

Yield / T-Rtn 5.63% 4.30% 14.56% 7.59% 6.89%

115.33

14.56%

113.79

fcamhelpdesk@fcmb.com

LOTUS CAPITAL LTD ďŹ ncon@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 1.00 1.02 12.52% Lotus Halal Fixed Income Fund 1,003.10 1,003.10 0.31% 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 9.56 9.65 -2.22% Meristem Money Market Fund 10.00 10.00 14.98% 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 1.06 6.12% PACAM Fixed Income Fund 10.43 10.51 4.69% PACAM Money Market Fund 10.00 10.00 14.89% 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 108.26 108.95 6.24% 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 1.24 1.24 9.64% 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 1,819.60 1,829.74 8.34% Stanbic IBTC Bond Fund 153.28 153.28 4.22% Stanbic IBTC Ethical Fund 0.77 0.78 3.33% Stanbic IBTC Guaranteed Investment Fund 185.52 185.52 9.33% Stanbic IBTC Iman Fund 130.64 132.27 -3.46% Stanbic IBTC Money Market Fund 100.00 100.00 17.09% Stanbic IBTC Nigerian Equity Fund 7,522.79 7,620.62 4.65% 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 1.15 9.11% United Capital Bond Fund 1.21 1.21 13.91% United Capital Equity Fund 0.67 0.68 -1.58% 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 9.78 9.93 2.33% Zenith Ethical Fund 11.06 11.15 -3.45% Zenith Income Fund 17.04 17.04 6.21%

REITS Bid Price 0.92 2.55

Bid Price 2,172.13

Coral Income Fund 2,093.49 INVESTMENT ONE FUNDS MANAGEMENT LTD Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price

Offer Price Yield / T-Rtn 0.94 2.20% 2.55 9.82% coralfunds@fsdhgroup.com Offer Price 2,196.59

Yield / T-Rtn -0.16%

2,093.49 10.65% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

1.00

15.84%

Vantage Balanced Fund

1.68

1.69

2.64%

NAV Per Share

Yield / T-Rtn

11.58 123.25

3.99% 6.38%

Bid Price

Offer Price

Yield / T-Rtn

8.80 76.53

8.90 77.97

-8.10% -8.05%

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 GrifďŹ n 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

2.61 7.09 11.91 14.98 127.31

2.66 7.17 12.01 15.18 129.31

14.38% 10.89% -3.89% -21.91% -

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 managerâ&#x20AC;&#x2122;s website and FMANâ&#x20AC;&#x2122;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.

MONDAY, DECEMBER 19, 2016 ˾ T H I S D AY

37

MARKET NEWS

MeriTrade Emerges Investors’ Favourite Online Trading Portal Goddy Egene and Nosa Alekhuogie An online trading portal launched by Meristem Securities Limited in 2014, MeriTrade, has been adjudged by investors as the number in the capital market.

According to a survey carried out on online trading portals in the Nigerian stock market by Proshare Limited, MeriTrade

emerged the best in all the criteria used. Easy Trade by Investment One came second while Afrinvestor by Afrinvest Securities Limited came third.

Proshare said the online portal survey was carried out between November 4 and 22, 2016. Proshare carried out a customer survey for 18 days in order to get direct feedback from customers that make use of

T H E

the various platforms. In order to obtain accurate information from the various brokerage firms, Proshare also sent out letters and emailed the same content to the brokerage firms.

“Out of all the brokers contacted, only 13 responded to our letters and emails. They include Meristem Securities, Stanbic IBTC Stockbrokers, Lead Securities, CSL Stockbrokers,

N I G E R I A N

Afrinvest, Investment-One, Cordros capital, WSTC Financial Services, APT securities, Capital Bancorp, Greenwich Trust, TRW Stockbrokers and ARM Securities,” the company said.

Proshare used four criteriatechnology, accessibility, services and fees and benefits-for the ranking and in all, MeriTrade emerged first.

In terms of technology, speed

STO C K

of execution, 52.5 per cent of the responses rated very fast, 40.6 per cent fast; 6.0 per cent slow and 0.9 per cent very slow.

Among the platforms rated very fast, MeriTrade emerged first followed by Easy Trade, while Cordros came third. Afrinvestor(fourth); APTe-Trade(fifth); LeadTrad er(sixth);ARMStocktrade(sev enth); MyTradebook(eigth); Morgan Capital(ninth) and

E XC H A N G E

StanbicIBTC(10th).

The platforms that received yes from respondents were led

by MeritTrade, followed by EasyTrade, while Afrinvestor placed third.

Others are: APT e-Trade (fourth); Cordros(sixth); MyTradeBook(seventh); Morgan Capital(eigth); ARMStockTrade(nineth) and StanbicIBTC(10th).

38

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

39

40

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

41

42

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

43

44

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

45

46

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

47

48

MONDAY DECEMBER 19, 2016 T H I S D AY

49

T H I S D AY MONDAY DECEMBER 19, 2016

5(78516 21 87,/,=$7,21 2) )81'6 62/' 72 &86720(56 )25 7+( :((. (1'(' )5,'$< '(&

50

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

51

52

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

53

54

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

55

56

MONDAY DECEMBER 19, 2016 T H I S D AY

MONDAY DECEMBER 19, 2016 ˾ T H I S D AY

57

INTERNATIONAL Aleppo Battle: Rebels Burn Syria Evacuation Buses Several buses en route to evacuate the sick and injured from two government-held villages in Syria’s Idlib province have been burned by rebels.

The convoy was travelling to Foah and Kefraya, besieged by rebel fighters.

Pro-government forces are demanding people be allowed to leave the mainly Shia villages in order for the evacuation of east Aleppo to restart.

Thousands of people are waiting to leave in desperate

conditions, reports say.

The initial plan to evacuate eastern Aleppo collapsed on Friday, leaving civilians stranded at various points along the route out without access to food or shelter.

Despite delays caused by disagreements over the new evacuation plan, convoys were said to be travelling to both eastern Aleppo and the government-held villages in Idlib province on Sunday.

However, UK-based monitor-

ing group the Syrian Observatory for Human Rights said six buses were attacked and torched on the way to Foah and Kefraya.

It had reported earlier that the rebel group Jabhat Fatah al-Sham, formerly known as the Nusra Front, was preventing buses entering the villages.

Syrian state media said “armed terrorists”attacked five buses, burned and destroyed them.

Rebel groups have not yet commented on the attack.

Zimbabwe’s Zanu-PF Confirms Mugabe as 2018 Election Candidate Zimbabwe’s governing Zanu-PF party has confirmed President Robert Mugabe as its candidate for the 2018 elections.

Mr Mugabe, who is 92, has been in power since independence from Britain in 1980.

At the party’s conference, the Zanu-PF youth wing even proposed that Mr Mugabe should

be declared president for life.

However, there have been unprecedented protests this year against Zimbabwe’s economic turmoil and Mr Mugabe’s leadership.

The Zanu-PF has also suffered serious infighting as factions battle it out to

succeed Mr Mugabe once he eventually leaves.

His supporters broke into thunderous applause and chanted “tongai, tongai baba” [rule, rule father] as the Zanu-PF annual conference in the south-eastern town of Masvingo nominated Mr Mugabe on Saturday.

email:foreigndesk@thisdaylive.com

58

MONDAY DECEMBER 19, 2016 T H I S D AY

59

T H I S D AY MONDAY DECEMBER 19, 2016

DEBT MANAGEMENT OFFICE REQUEST FOR EXPRESSION OF INTEREST (EOI)/PREQUALIFICATION DOCUMENTS FOR A FINANCIAL ADVISER, A LEGAL ADVISER AND A TRUSTEE FOR THE ISSUANCE OF FEDERAL GOVERNMENT OF NIGERIA NON-INTEREST FINANCING INSTRUMENTS (SUKUK) IN THE DOMESTIC BOND MARKET 1.0 Background The Federal Government of Nigeria (FGN) is in the process of issuing its debut Sovereign non-interest financing instruments (Sukuk) in the domestic bond market.

In this regard, the Debt Management Office (DMO), on behalf of the FGN, hereby wishes to invite submission of Expression of Interest (EOI) for the prequalification of qualified and reputable:

of the FGN in the Domestic Bond Market” b) P l e a s e n o t e t h a t E l e c t r o n i c s u b m i s s i o n s o f EOI/Prequalification Documents will not be accepted and applicants must ensure appropriate acknowledgement by the DMO at the time of submission. c) EOI/Prequalification Documents should be addressed and delivered not later than 12 noon (Nigerian Time) on Monday January 09, 2017 to the following address:

§ Banks and Issuing Houses to serve as a Financial Adviser; § Legal Firms to serve as a Legal Adviser; and, § Trustee Firms to serve as a Trustee.

Director-General, Debt Management Office, The Presidency, First Floor, NDIC Building, Plot 447/448, Constitution Avenue, Central Business District, Abuja, Nigeria.

All respondents must possess proven expertise in the issuance of non-interest financing instruments (Sukuk) to work with the Office towards the successful issuance of the debut Sovereign Sukuk on behalf of the FGN in the domestic bond market.

2.0 Mandatory Eligibility Requirements All respondents to this EOI are required to provide the following documents/information in line with Section 16(6) of the Public Procurement Act, 2007, as a basis for prequalification: a) b) c) d) e) f) g)

h) i)

j)

k)

l)

Evidence of Incorporation with Corporate Affairs Commission (CAC).

Detailed Company profile, which should include registered office, and contact email addresses.

Evidence of company's current practice licence with the relevant professional regulatory bodies.

Minimum of two investment grade ratings from reputable Nigerian rating agencies, applicable to Financial Advisers and Trustees only.

Company's Audited Accounts for the last three (3) years (2013-2015).

Tax Clearance Certificates for the last three (3) years (2013-2015).

Qualification and Curriculum Vitae of key staff to be deployed for this assignment indicating their qualification and cognate experiences including photocopies of academic and professional certificates.

Current Certificate from National Pension Commission as evidence of compliance with Pension Reform Act, 2014.

Evidence of compliance with Industrial Training Fund Amendment Act, 2011 by inclusion of copy of Compliance Certificate from the Industrial Training Fund for the period under review.

All documents should be accompanied with an affidavit disclosing whether or not any officer of the DMO and Bureau of Public Procurement (BPP) is a former or present director, shareholder or has any pecuniary interest in the EOI and confirm that all information presented are true and correct in all particulars.

Evidence of registration on the National Database of Contractors, Consultants and Service Providers by inclusion of Interim registration report or Certificate of Registration issued by the Bureau of Public Procurement (BPP).

Evidence of the company's experience and individual members of staff in the issuance of non-interest financial instruments and other ethical financial products.

4.

Submission of Expression of Interest

a)

EOI/Prequalification Documents, which must be prepared in English Language, and should be submitted in Seven (7) copies (one of which must be marked original copy) in a sealed envelope clearly marked: “Expression of Interest/Prequalification Documents for providing Financial, Legal and Trustee Advisory Services for the Issuance of Sovereign Sukuk by the DMO on behalf

Please note the following additional information: a) All EOIs must be received by 12.00 noon (Nigeria Time) on Monday January 09, 2017. The DMO reserves the right to reject any EOIs not received by this time and in the form prescribed by this request for EOI/Prequalification. b) Companies which submit EOIs within the stipulated time are invited to witness the public opening immediately after the expiration of the deadline. c) After the evaluation of the EOIs, a shortlist of companies which scored at least the minimum requirements of the criteria for shortlisting will be drawn up on the basis of the evaluation of the EOIs. d) Only shortlisted companies will be invited to collect Request for Proposals (RfP) e) All applicants will be notified whether or not they have been pre-qualified, through electronic or physical mails.

5.0

Enquiries

Respondents to this EOI that require further clarification may wish to direct the requests to: enquiries@dmo.gov.ng.

IMPORTANT NOTICES a)

Nothing in this advertisement shall be construed to be a commitment on the part of the DMO to appoint local transaction parties to issue Sovereign Sukuk; nor shall it entitle any interested party to make any claim whatsoever and seek indemnity from the DMO by virtue of the interested party having responded to this request for EOI /Prequalification.

b)

No costs associated with responding to this request for EOI/Prequalification or attending public opening and evaluation of EOIs exercise and responding to Request for Proposals will be reimbursed.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Sukuk referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

c)

Debt Management Office The Presidency, Plot 447/448, Constitution Avenue, Central Business District, P.M.B. 532 Garki, Abuja, Nigeria.

Email: enquiries@dmo.gov.ng Website: www.dmo.gov.ng

60

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

61

62

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

63

64

MONDAY DECEMBER 19, 2016 T H I S D AY

T H I S D AY MONDAY DECEMBER 19, 2016

65

66

MONDAY DECEMBER 19, 2016 T H I S D AY

MONDAY, DECEMBER 19, 2016 ˾ T H I S D AY

67

NEWSXTRA

Gbajabiamila: Amendment to CCB Act will Not See Light of Day Says constituency projects are a legal part of budget Damilola Oyedele ÓØ ÌßÔË The Majority Leader of the House of Representatives, Hon. Femi Gbajabiamila, has said constituency projects are a legal part of the budget cycle, and

have been useful for legislators to ensure federal presence in their constituencies.

He said this when he weighed in on the 2016 budget scandal that raged in the House, following

NCAA Warns Stakeholders against Anti-competitive Practices Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has warned all industry stakeholders to avoid anti-competitive practices in the aviation sector, insisting that no airline can fly without adequate insurance cover and other safety certificates.

NCAA was reacting to recent stories making the rounds aimed at misinforming travellers and other Nigerian about some Nigerian carriers.

On Sunday last week, there was a reports that an airline’s flight was involved in a crash and as the false report circulated Nigerians were gripped with fear and later it was found to be a hoax.

This was followed by another misinformation that one of the airlines does not carry out adequate maintenance of its aircraft; so the report, which spread on social media, warned travellers not to fly that particular airline.

In a statement signed by its spokesman, Sam Adurogboye, NCAA condemned the cases of misinformation prevalent in the industry.

“It is unfathomable that some questionable sources have been posting and circulating some cruelly fictitious stories about some airlines – insinuating a crash or claiming a particular carrier does not possess aircraft spares to sustain a safe operation using the online platform.

“The authority only recently carried out a safety audit on Arik Air and there were no issue of safety concern found.

Such reports should therefore be discountenanced.

“All those involved in this nefarious activity should promptly desist from this course of action as the consequences are seriously detrimental to

the industry, particularly the confidence of the passengers,” the regulatory authority said.

NCAA also noted that it was well aware of the high volume of passenger movement within the country and from the diaspora during the yuletide season.

“NCAA’s Aviation Safety Inspectors (ASI) have therefore embarked on increased surveillance on airline operations in addition to our daily ramp inspection diligently carried out so as not to leave room for anyone to cut corners.

“On the issue of insurance, contrary to some claims, it is inconceivable for any carrier/ flight crew to carry out any flight operation (private or commercial) without valid or all requisite safety certificates,” NCAA said.

The regulatory authority also said that according to the Nigerian Civil Aviation Regulations (NCARs), 18.11.2, “No person shall operate any aircraft in public air transport category without adequate and valid insurance.”

NCAA said on this strength, the Authority would continue to statutorily provide robust regulation for safe and secure airline operations.

The authority however appealed to passengers to show understanding and not take laws into their hands when it becomes inevitable that flight has to be delayed or cancelled on account of unfavourable weather conditions or any other operational issues such as unavailability of fuel whenever it arises.

It added that its Consumer Protection Directorate has been strengthened to enforce the Passengers Bill of Rights as it relates to passengers and the airlines.

Dogara Hails Saraki at 54 Damilola Oyedele ÓØ ÌßÔË The Speaker of the House of Representatives, Hon Yakubu Dogara, has expressed congratulatory wishes to the President of the Senate, Dr. Abubakar Bukola Saraki, on occasion of his 54th birthday.

Dogara, in a statement, lauded Saraki’s leadership of the Senate, which he said has proven to be an active and progressive

partner of the House of Representatives in providing legislative solutions to Nigeria’s problems.

“The Senate under your watch has been an active and progressive partner in providing legislative solutions to Nigeria’s problems. We look forward to continued cooperation and seamlesness in National Assembly activities in the service of our people,” Dogara said.

allegations of budget fraud levelled against Speaker of the House, Yakubu Dogara, and some other principal officers, by the now suspended former Chairman of the Committee on Appropriation, Hon. Jibrin Abdulmumin.

This is as he noted that the President Muhammadu Buhari-led federal government is in dire need of the $30billion external loan, to inflate the economic and arrest the continuous slide into economic recession.

Gbajabiamila, fielding questions from journalists, while presenting the end of year report on the activities of the House at the weekend, said the N100 billion zonal intervention fund, also known as constituency project fund, was minute, when divided among 469 federal legislators.

“I do not think the issue of budget padding is one that

can go on infinitum, I cannot address it because I don’t know what it means. All over the world, the power of the purse is with the legislature.

Every member strives to attract federal presence to his constituencies and that can be done during the budget cycle.

Any legislator who sits down during the budget cycle, after his constituents have told him what their problems are; how they need hospitals, schools, has committed malpractice. If that is what is called budget padding, then it is legal,” Gbajabiamila said.

“I believe the House felt Jibrin went against its ethics, and sanctioned him. Some may not agree with it, not everyone may have wanted it, but majority rules,” he said.

Speaking on the 2017 N7.3 trillion budget which was laid before National Assembly by Buhari last week, the leader

assured on the commitment of the lawmakers to ensure its speedy passage.

He, however, noted that there was the need to procure the $30 billion loan to fund the budget, reflate and diversify the economy.

He blamed past governments for the current economic recession being experienced in the country.

“Former President Olusegun Obasanjo was able to exit the Paris Club because petrodollars were flowing. …but our current budget was benchmarked on $38. It is what this government found on ground that has informed the need for this borrowing. And to get us out of this, we must borrow, it is necessary to pump money into the system, there is a lot to use money for right now,” the leader said.

He allayed fears that the 2017 budget was based on unrealistic

assumptions noting that the Medium Term Expenditure Framework (MTEF) was put together in consultation with experts. Notwithstanding, the MTEF is not cast in stone, and can be subjected to amendments, Gbajabiamila said.

On the recent amendment to the Code of Conduct Bureau/ Tribunal Act by the National Assembly, the leader said the amendment would not be signed into law.

Gbajabiamila had disagreed with the amendment removing the powers to appoint the CCT Chairman from the president, and vesting such powers in the National Assembly. He had even attempted to move for the House to rescind its decision on the amendment.

“The amendment would not see the light of day, whether through the Presidency, or though court process, because it is clearly unconstitutional,” he said.

PEACE BE ONTO YOU

Chaplain of the Chaplaincy of the Catholic Institute of West Africa, Rev. Mosgnr Pius Kii (right), praying for Rivers State Governor, Nyesom Ezenwo Wike, at the thanksgiving mass for the success of the Peoples Democratic Party (PDP) in the just concluded rerun elections in Port Harcourt ...yesterday

Mogae Succeeds Salim as Chair of Daily Trust’s Africa Award Former President of Botswana, Mr. Festus Mogae, has accepted his nomination to Chair the reconstituted Prize Committee of the DAILY TRUST African of the Year award.

In a letter he personally signed and which was delivered through the High Commissioner of Botswana to Nigeria, Lt. Gen. L. M. Fisher, Mogae said he accepted the appointment with humility.

He will be taking-over from Dr. Salim Ahmed Salim, pioneer Chairman of the Prize Committee and former Prime Minister of Tanzania, who completed a two-term tenure of eight years this month.

A distinguished African statesman, Mogae won the

prestigious Mo Ibrahim Prize for Achievement in African Leadership in 2008 and same year he was awarded the Grand Cross of the Légion d’honneur

by French President.

As this year’s edition of the DAILY TRUST Africa of the Year award has been skipped due to unforeseen exigencies, Mr. Mogae’s tenure as Chairman of the Prize Committee commences in the new year.

Other members of the reconstituted Prize Committee representing Africa’s sub-regional blocs are Ambassador Mona Omar (North Africa), Mr. Amadou Mahtar Ba (West Africa), Ms. Gwen Lister (Southern Africa), Mr. Pascal Kambale (Central Africa)

and Professor Sylvia Tamale (East Africa). The Chairman of the Board of DAILY TRUST, Malam Kabiru Yusuf, represents the award promoters.

The African of the Year Award, which was initiated in 2008 and is being supported by United Bank for Africa (UBA Plc), attracts a prize sum of US$50,000 in aid of the awardee’s humanitarian work.

Promoted by DAILY TRUST in fulfillment of the newspaper’s commitment to African unity and sustainable development, the award seeks to recognise and reward exemplary Africans for extra-ordinary contribution to human development in any part of the continent.

The maiden award for 2008 went to Dr. Denis Mukwege, a Congolese gynaecologist and humanitarian surgeon while Mr. Danny Jordan, South African sports administrator, won in 2009. In 2011, Judge Fatimata Bazeye from Niger Republic received the Award while Mr. Gregoire Ahongbonon of Benin Republic emerged winner of the 2015 award.

Some of the distinguished personalities who had served on the prize committee under Dr. Salim are: Prof. Abdoulaye Bathily, Prof. Tandeka Nkiwane, Dr. Muthoni Wanyeki, Prof. Okello Oculi, Dr. Obadiah Mailafia, Prof.

Kwame Karikari, and the late Dr. Tajudeen Abdulraheem.

68

MONDAY, DECEMBER 19, 2016 ˾ T H I S D AY

NEWSXTRA

Lagos Investigates Fresh Stampede in Synagogue Church Contractors, engineers face trial Jan 19 Gboyega Akinsanmi The Lagos State Government yesterday disclosed that it would investigate the fresh stampede that occurred at the Synagogue Church of All Nations (SCOAN), Ikotun penultimate weekend, claiming at least three lives.

Similarly, a Lagos High Court

in Ikeja said it would continue with the trial of the contractors and engineers involved in the construction of SCOAN’s guest house that collapsed on September 12, 2014 and killed 116 persons.

The state Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem, disclosed the plan of the state government

25 Unions Form New Labour Movement No fewer than 25 industrial unions at the weekend elected Mr. Joe Ajaero as the President of a new labour centre, United Labour Congress (ULC).

The unions elected Ajaero, the General Secretary of the National Union of Electricity Employees (NUEE), at the ULC maiden delegates conference in Lagos.

The News Agency of Nigeria (NAN) reported that the new labour centre emerged after a two-year internal crisis that split the Nigeria Labour Congress (NLC).

Ajaero, who was elected unopposed, said the ULC would fight for the interest of workers and ensure a more equitable Nigeria where workers’ dignity and the work place would become less prone to impunity.

He said the emergence of ULC would strengthen the labour movement and generate a new vigour that would re-awaken elements that would make workers strong.

“The new labour centre instead of weakening the movement will present labour as a creative partner that has strategic benefits for its publics, especially the employers and the government,” he said.

The ULC president said the new centre was aimed at restoring hope to Nigerian workers, the oppressed, the victimised, the neglected and other relegated members of the society.

He said the movement was not contesting with anybody or faction, but would remain a labour centre of its own, adding that “the issue of faction is over.’’

Ajaero also said the new congress was emerging because of the exigency of the moment where people work without salaries for months and were being denied their rights at their work places.

The President of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG), Igwe Achese, was elected Deputy President.

Three Vice Presidents, Treasurer, Auditor and Financial Secretary among others were also elected to run the affairs of the centre.

Leaders of the new Labour federation said their first major outing would be against a leading airline in the country on Tuesday for alleged unfair labour practices, including seven months unpaid salaries to workers affiliated to ULC.

Olubodun Appointed Managing Director of Insight Communications The Board of Insight Publicis, a creative consultancy and marketing communication company in West Africa, has announced its first non-founder Managing Director/Chief Executive Officer in its almost four decades history.

The founder and Chairman of the Board of Insight Publicis, Biodun Shobanjo, announced Feyisola Olubodun as the new leader of the organisation.

“This is the lap for the millennials and the Generation Z. It is an era of connecting mobile digital communication to the socket of complex business needs. Feyi will now lead a successful team that continues to deliver unrivalled communication solutions that assist our customers to have profitable interactions with their audience,” Shobanjo said.

According to him, Feyi now becomes one of the youngest Managing Directors/Chief Executive Officers among the A-rated marketing

communication firms in Nigeria.

Prior to his new role, he led the business to rapid growth, first as its Strategy and Planning Director and latter as General Manager/Chief Operating Officer.

“The vision of our Board of Directors is clear. We shall allow others to follow us as we continue to lead at interpreting what today’s customer’s chat about. It is an honour to lead Nigerias most talented marketing communications company at this time in the history of our organisation,” Olubodun noted.

Feyi Olubodun, Insight CEO

to investigate the alleged stampede in a statement he issued yesterday.

Kazeem said the state government was aware of the incident, which he said, occurred in the premises of the Synagogue Church in Ikotun penultimate weekend and reportedly culminated in the death of about three victims.

The attorney-general added that the state government would ensure proper and thorough investigation of the incident and take appropriate and necessary step on the outcome of the investigation.

He, therefore, noted that the administration of Governor Akinwunmi Ambode, assuring

that the administration was committed to ensuring security and safety of all residents and visitors.

On the trial of SCOAN contractors and engineers, the defendants were last month arraigned on 111-count charge bordering on criminal negligence, manslaughter and failure to obtain building permit.

The defendants include the SCOAN Trustees, two engineers – Mr. Oladele Ogundeji and Mr. Akinbela Fatiregun and their companies – Hardrock Construction and Engineering Company and Jandy Trust Limited.

The defendants, who are currently standing trial before

Justice Lateef Lawal-Akapo, were charged with a 111-count charge for alleged involvement in the SCOAN guest house that collapsed and killed 116 persons on September 12, 2014.

However, the judge fixed January 19, 2017 for the continued trial of the defendants.

At the last hearing last week, Lagos State Chief Medical Examiner, Professor John Obafunwa, told the court that five dead bodies who fell victim of the incident were yet to be identified.

Obafunwa said the victims of the collapsed building died due to multiple injuries, traumatic asphyxia, severe blood loss, severe fracture and compression

of the skull with the brain tissue, congested heart failure against the background of hypertension and accumulation of blood in the chest cavity.

He said: “To avoid any decomposition, we have to embalm the bodies in the various mortuaries and were equally given identification numbers. On September 22, 2014, I received a Coroners’ order to commence a post-mortem examination for identification purposes.

“The bodies were finger printed, examined externally, opened up and examined internally, and samples were taken from various organs to examine them under the microscope.”

GOING DIGITAL...

L-R: Chief Technology Officer of L-Cube, Diji Adu; Chief Executive Officer of L-Cube, Mr. Olawale Wale-Falope; Minister of Information and Culture, Alhaji Lai Mohammed; and the Minister of State for Health, Dr. Osagie Ehanire, at the launch of the federal government’s information app (FGN IAPP) in Abuja....recently

Boko Haram: UN, ONSA to Adopt Regional Approach on Rehabilitation of Repentant Terrorists UN counter-terrorism boss visits Nigeria next year The Counter-Terrorism Committee Executive Directorate (CTED) of the United Nations Security Council (UNSC) has concluded plans with the federal government to discuss the prosecution, rehabilitation and re-integration of former Boko Haram members at a regional level.

This will see the top hierarchy of the UN Counter-Terrorism Office visiting Nigeria next year for a possible summit with other countries of the Lake Chad Basin Commission (LCBC) and West African sub-region on the issue.

The Chief of Africa Section of CTED, Ms. Samia Ladgham, disclosed this at the weekend in Abuja at the high-level segment on developing a comprehensive approach to deal with persons associate with Boko Haram (offenders, suspects and victims), Prosecution, Rehabilitation and Re-integration (PRR).

Ladgham said the comprehensive approach to PRR

being championed by the Office of the National Security Adviser (ONSA) in collaboration with the European Union, CTED and UN Office on Drugs and Crime (UNODC) tagged: ‘Partnership Project II: Assisting Nigeria to strengthen rule of law-based criminal justice responses to terrorism’, will be sustained.

She also commended the federal government and ONSA for its approach to the issue of PRR to former members of Boko Haram, stressing that it’s a completely new method for most countries facing terrorism.

Ladgham vowed that CTED would be assisting the country to develop the needed mechanism, disclosing that the Chair of the UN Counter-Terrorism Office will be visiting the country next year for a planned regional summit on PRR. “The issue of PRR of former Boko Haram members is a relatively new issue that the affected states are still grappling

with, and we commend ONSA for bringing this issue to the table. This is an unchartered territory, but we will continue to support your efforts to tackle the challenges arising from the Boko Haram insurgency to develop an action plan “Chair will visit Nigeria sometime next year to discuss the PRR at a regional level,” she said.

Earlier, the National Security Adviser (NSA), Maj-Gen. Babagana Monguno (rtd), said the consultative workshops were called to enable Nigerian authorities draw upon a range of experiences from other member states in working to overcome the challenges involved in developing and implementing re-integration and rehabilitation programmes and in tailoring effective approaches to the Nigerian context.

Monguno who was represented by Mr. Abba Ibrahim, said the two-day

segment on PRR was to improve awareness of good practices, norms and standard in that area and in particular, applicable international human rights and humanitarian law.

“Identify what further support, guidance and assurance Nigerian authorities will require moving forward in expanding and strengthening their approach to re-integration and rehabilitation particularly in the context of developing an approach vis-a-vis a robust criminal justice dimension,” he said.

On her part, the UNODC Country Representative to Nigeria, Ms. Cristina Albertin, lauded the partnership with ONSA, UNSC-CTED and EU “in establishing clear aims for a criminal justice framework as part of an overall rehabilitation and re-integration approach, including criteria for an effective and appropriate prosecution strategy.”

T H I S D AY ˾ MONDAY, DECEMBER 19, 2016

69

MONDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Dalung Preaches Unity, Accountability at NFF’s AGM Femi Solaja The Nigeria Football Federation (NFF) has been urged to build bridges and close ranks within the football fraternity to foster unity and good relationship in the football house.

The Minister of Youth and Sports, Solomon Dalung, made the remark at the 72nd General Assembly of the NFF held in Lagos yesterday.

In his opening remark, Dalung congratulated the NFF for the victory of the Super Falcons at the recently concluded Africa Women’s Cup of Nations in Cameroon as well as the successes recorded so far by the Super Eagles in their qualification matches for the 2018 World Cup. He stated that the Super Falcons’ public protest over their entitlements could have been averted if the federation had effectively managed the situation.

Dalung therefore called for the submission of a comprehensive proposal of programmes of the federation for 2017 to the Ministry by January with all requests for intervention, to make way for scrutiny and effective planning.

The minister also said that his office has been inundated with

reports suggesting that the board of the NFF was divided over the issue of Mr Amaju Pinnick’s intention to vie for a seat in the Confederation of African Football (CAF) executive.

“It is a policy of government to support and encourage Nigerians to vie and aspire for positions in international organisations.

However, such persons must possess the requisite qualification and the wherewithal to succeed.

“So it was heartwarming when I received a letter from the President of NFF, Mr Amaju Pinnick declaring his interest to vie for a position in CAF. The NFF is hereby directed to avail the ministry with the minutes of the meeting where Mr Pinnick’s nomination for a CAF seat was discussed and approved so as to put the records straight.

“If our quest for a CAF seat is to materialise, then the NFF President will need the support of everybody,” he further noted.

Dalung also spoke on a report he received from the NFF raising queries on FIFA’s audit report of $1.1m FIFA development grant to the federation.

“According to the report, FIFA has withheld all development funds to Nigeria for lack of proper documentation of $802,000 out of the funds released to NFF.

Real Madrid players celebrating the FIFA Club World Cup trophy in Japan…yesterday

Ronaldo’s Hat-trick Wins Man City Sinks Gunners Club World Cup for Real Manchester City breathed fresh second half goals from Leroy Sane Cristiano Ronaldo scored a hattrick yesterday as Real Madrid survived a scare to beat Japanese side Kashima Antlers in extra time to win the Club World Cup. Real took the lead in the ninth minute through Karim Benzema, but Gaku Shibasaki scored either side of half-time

to put Kashima in front.

Ronaldo leveled from the penalty spot on the hour mark after Lucas Vazquez was fouled

by Shuto Yamamoto.

Victory for Ronaldo capped an impressive year for the forward, coming six days after he won the Ballon d’Or, awarded to the world’s best player.

He scored the winning penalty in Real’s Champions League final victory over Atletico Madrid in May, before captaining Portugal to Euro 2016 success in the summer.

life into their Premier League title challenge as they came from behind to secure a crucial 2-1 win over Arsenal, while Tottenham beat Burnley 2-1 to close the gap on the top four yesterday.

Pep Guardiola’s side recovered from Theo Walcott’s early opener as

and Raheem Sterling delivered the knockout blows in a heavyweight clash at Eastlands.

City’s second win in five days lifted them into second place and closed the gap on leaders Chelsea to seven points ahead of the busy Christmas period.

P R E M I E R S H I P TO P F I V E Team Chelsea Man City Liverpool Arsenal Tottenham

P 17 17 16 17 17

W 14 11 10 10 9

D 1 3 4 4 6

L 2 3 2 3 2

GF 35 36 40 38 29

GA 11 20 20 19 12

GD 24 16 20 19 17

Pts 43 36 34 34 33

70

MONDAY DECEMBER 19, 2016 T H I S D AY

71

T H I S D AY MONDAY DECEMBER 19, 2016

With deep thoughts and gratitude to the Almighty for a life well spent, we announce the

SAYLING TO

ELYSIUM OF TORTUGARDE

DEJI SASEGBON, ESQ. SAN (1953-2016) Pyrates sayle again... Pyrates sayle again... we shall sayle on earth... we shall sayle in heaven... Pyrates sayle again...

FUNERAL PROGRAMME VALEDICTORY SERVICE Date: Tuesday, December 20, 2016 Time: 2:00 pm Venue: Lagos High Court, Igbosere WAKE Date: Tuesday, December 20, 2016 Time: 6:00 pm Venue: Nicon Town Estate Recreational Grounds, Lekki

FUNERAL SERVICE Date: Wednesday December 21, 2016 Time: 11:00 am Venue: Cathedral Church of Christ, Marina, Lagos State RECEPTION @ Harbour Point, Wilmot Point Road off Ahmadu Bello Way, Victoria Island, Lagos State

.,

Signed: Arthur Boje Esq. Pyrates’ Cap’n

TR

Monday December 19, 2016

UT H

& RE A S O

N

Price: N250

MISSILE Jonathan to Nigerians â&#x20AC;&#x153;Let me make it clear that I was not persuaded to do so (concede) by anyone within or outside the country. I know it was the right thing to do. My mantra: â&#x20AC;&#x2DC;my ambition is not worth the blood of any Nigerian,â&#x20AC;&#x2122; is my vow. It was not just a political slogan.â&#x20AC;?

Former President, Dr. Goodluck Jonathan, clarifying claims in some quarters that he was pressured to concede to President Muhammadu Buhari in the 2015 presidential election.

BENMURRAYBRUCE MAKING COMMON SENSE

ben.murraybruce@thisdaylive.com

A Ruthless Government is Better Than a Youth-less Government

W

hen you take a critical look at the composition of the present administration at the federal level, the only place you can find youths is in the National Assembly.

There are no youths in the cabinet of President Muhammadu Buhari otherwise known as the Executive Council of the Federation. All the ministers are either middle age or senior citizens.

The same is true for the judiciary. The only place you will find a few youth is in the National Assembly and especially the House of Representatives.

Now, I want you to ask yourself why we have this reality despite the fact that over 60% of our population are young people of 36 and under.

I have often pondered this challenge and the reason always eluded me until I became active on social media sometime last year.

You see, Martin Luther King Jr. once said â&#x20AC;&#x2DC;When evil men plot, good men must plan. When evil men burn and bomb, good men must build and bind. When evil men shout ugly words of hatred, good men must commit themselves to the glories of love.â&#x20AC;&#x2122; The old breed politicians who put Nigeria where she is have been plotting and continue to plot, but rather than counter them by organizing yourselves and by planning to mobilize into parties and get elected, what most of our youths do is to tear each other down on social media for the very same old breed politicians who the youth complain about.

I call it the crab mentality. As you may or may not be aware, if you catch crabs, you do not need to cover the basket or vessel where you put them in because once one of them starts to climb out, the others will drag it back down and so they act as a police against each other for the benefit of their oppressors.

Another challenge our youths have is their outward focus. This was thoroughly put on display during the last US elections.

Nigerian youths who fought each other over whether it was appropriate or not for our own presidential candidates to refuse to debate had strong opinions on the US presidential debates.

Our youths took opposing sides and fought each other using the vilest of words to describe those on the other side as if

President Muhammadu Buhari

Hillary and Trump were vying to preside over Aso Rock.

We show this same zeal for European Premier Leagues and it is not unusual to read about Nigerian youths fighting or in extreme situations, even killing each other, because of rivalry over their European football clubs.

If our youth were to channel this same zeal to building unity amongst themselves so they can. have a common front in 2019, there will definitely be a change in the political structure of Nigeria.

Let me give you a recent example.

A couple weeks ago, the Nigerian Communications Commission had instructed GSM firms to increase their tariffs. As to be expected, this move sparked

outrage amongst Nigeriaâ&#x20AC;&#x2122;s youth who rose up spontaneously against it and when the NCC saw their reaction they backed down.

Why do you think they backed down?

Was it because you were angry? Was it because you guys are numerous in number?

None of the above.

They backed down for one and only one reason. Nigeriaâ&#x20AC;&#x2122;s youth were UNITED in their rejection of the data tariff increase.

You see, nobody is afraid of your numbers or your anger or your political affiliation. What they are afraid of is your unity because when you unite, nothing is impossible to you.

So settle it in your minds that you are all Nigerians. Do not look at each other as â&#x20AC;&#x2DC;abokiâ&#x20AC;&#x2122; or â&#x20AC;&#x2DC;IPOBâ&#x20AC;&#x2122; or other such derisive names you use to label each other on social media.

If you do not do this, then 2019 will come and you will continue being bag carriers and PAs for the old breed.

Let me ask you a question: How many of you youths believe that a youth can be President in 2019? Be honest.

Now let me ask you another question.

How many of you believed that Donald Trump would win the US elections?

You see, as Nelson Mandela said, â&#x20AC;&#x2DC;it always seems impossible until it is doneâ&#x20AC;&#x2122;!

Let me tell you from my experience, if you do your part,

â&#x20AC;&#x153;Youths do not even have to go and form your own party. Democracy is a game of numbers. You have the numbers. We donâ&#x20AC;&#x2122;t. My recommendation to you is to join the already established parties and use your numbers to take it over. And do not worry too much about money. Money is important, yes, but the world is changing. In fact it has changed!

Hillary Clinton had more money than Donald Trump during the elections. At one point she was outspending Donald Trump 7 to 1 on advertising.

But she underestimated the power of social media and Trump used it to win the hearts and minds of many Americans and won the election. It is not only Hillary Clinton that underestimated social media.

Nigeriaâ&#x20AC;&#x2122;s old breed politicians also underestimate it and surprise, surprise, so do you youths!â&#x20AC;?

divine forces will do the rest.

No matter how bad a ruthless government is, it is always going to far better than a youth-less government.

No matter how young at heart a senior citizen is, he cannot know the needs of the youth as much as a youth.

In fact we can say that if it is not a youth, it cannot be a youth!

Youths do not even have to go and form your own party. Democracy is a game of numbers. You have the numbers.

We donâ&#x20AC;&#x2122;t.

My recommendation to you is to join the already established parties and use your numbers to take it over.

And do not worry too much about money. Money is important, yes, but the world is changing. In fact it has changed!

Hillary Clinton had more money than Donald Trump during the elections. At one point she was outspending Donald Trump 7 to 1 on advertising.

But she underestimated the power of social media and Trump used it to win the hearts and minds of many Americans and won the election.

It is not only Hillary Clinton that underestimated social media. Nigeriaâ&#x20AC;&#x2122;s old breed politicians also underestimate it and surprise, surprise, so do you youths!

Because when you use social media to fight each other you show that you do not know itâ&#x20AC;&#x2122;s power. Learn from Trump.

No matter what the mainstream media says or said about him, he did not believe their news. He did not accept their reality.

Instead he used social media to create his own version of reality that eventually became the version that manifested in real life!

And this idea that youths make lousy leaders is unscientific and goes against the evidence. Nigeria made her greatest strides and achieved some of her most rapid progress between Independence and 1979 and youths led for thirteen of those nineteen golden years.

Nigeria has only gone into recession twice in her history and at both times we were not led by youths. Essentially what I am trying to say is that the man with an opinion cannot quarrel with the man with the facts and the facts favour our youth. r .VSSBZ #SVDF JT UIF 4FOBUPS SFQSFTFOUJOH #BZFMTB &BTU BOE GPVOEFS PG UIF 4JMWFSCJSE &OUFSUBJONFOU (SPVQ

Printed and Published in Lagos by Leaders & Company Limited . Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com