Wednesday 21st December 2016

Etete, Adoke, Others Charged for Fraud in Malabu Oil Deal Tobi Soniyi in Abuja

Petroleum Resources, Chief Dan Etete, the Chairman A.A. Oil, Alhaji Aliyu Abubakar, former Attorney General of the Federation and Minister for Justice, Mohammed Bello Adoke (SAN) and six

Following months of investigation, the federal government yesterday finally filed a nine-count charge against a former Minister of

companies for their alleged complicity in the payment of $400 million to Malabu Oil and Gas from a Nigerian escrow account with JP Morgan Chase Bank in London.

The money was said to

have been paid into Malabu’s account in the defunct Bank PHB Plc, now Keystone Bank Limited.

The offence was said to have been committed on or about 24 August 2011.

The six companies charged alongside Etete, Adoke and Abubakar are Malabu Oil and Gas Limited, Rocky Top Resource Nig. Ltd, Imperial Union Limited, Novel Property and Development Co. Limited,

Group Construction Limited, and Megatech Engineering Limited.

They were said to have committed an offence contrary Continued on page 6

Arik Air Resumes Flights After Disruption by Aviation Unions...

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Senate: No Going Back on Magu’s Rejection, Ndume Not Our Spokesman Says it did not get two conflicting reports on EFCC chairman Again, Saraki meets Buhari Tobi Soniyi and Omololu Ogunmade in Abuja The Senate yesterday rejected the submission of its Majority Leader, Ali Ndume, that the upper legislative chamber did not reject the confirmation of the acting Chairman of Economic and Financial Crimes Commission (EFCC), Ibrahim Magu last week, insisting that

Magu stands rejected.

The Senate last Thursday announced that in view of damning Department of State Services’ (DSS) security report on Magu, it could not confirm him as the substantive chairman of EFCC. But Ndume, while answering questions from State Continued on page 8

CBN to Eliminate Forex Black Market

Obinna Chima with agency report

The Central Bank of Nigeria (CBN) is set to eliminate the foreign exchange black market in Africa’s biggest economy, the Minister of Finance, Mrs. Kemi Adeosun, said yesterday.

The naira trades, sometimes 40 per cent below the official rates, against the dollar.

Commenting on the wide gap,

Adeosun said the CBN has been mandated to scrap the damaging market, reported AFP. The central bank “has been directed to do this and CBN has promised to do something by putting a system in place to eliminate the black market because it’s damaging the economy”, Adeosun told a Continued on page 8

Oando to Expand Midstream Operations Following $115.8m Helios Deal... Page 11

GHANA’S NEW LEADER COMES VISITING...

President Muhammadu Buhari (right) welcomes Ghanaian President-elect, Mr. Nana Akufo-Addo to the Presidential Villa, Abuja, when the latter came visiting yesterday godwin omoigui

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WEDNESDAY DECEMBER 21, 2016 T H I S D AY

T H I S D AY WEDNESDAY DECEMBER 21, 2016

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WEDNESDAY DECEMBER 21, 2016 T H I S D AY

T H I S D AY WEDNESDAY DECEMBER 21, 2016

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WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

PAGE SIX

Politicians Launch New Party, Submit Application to INEC Choose Action Democratic Party as its name Oghenevwede Ohwovoriole in Abuja Politicians across the six geopolitical zones took a leap on Monday night in Abuja, by holding the inaugural meeting of a new political party known as the Action Democratic Party (ADP), saying that the association had applied for registration with the Independent National Electoral Commission (INEC).

It is uncertain if this new party has any relationship with the alliance being contemplated by the faction of the Peoples Democratic Party (PDP) led by Senator Ahmed Makarfi, which currently controls 11 states in the country, and some prominent members of the ruling All Progressives Congress (APC) to form a new mega party, however, the PDP had made it clear recently that it has no intention of changing its name, even with an alliance.

The meeting of the proposed ADP, which was chaired by a prominent politician from the North-central zone, Mr. Yagbagi Sani, briefed members

of the progress made so far in the registration of the party and what needed to be done to complete the registration process.

During the meeting held at the interim secretariat of the planned party in Asokoro, Abuja, which was graced by members – many of them, former members of the PDP, APC and the Social Democratic Party (SDP) – from all the geo-political zones of the country, the new party also adopted the political association’s name, ADP, and a logo depicting a hand holding a book.

While welcoming members to the maiden meeting, Sani said that some prominent politicians (many of them do not want their names to be mentioned for now) decided to embark on the current journey to save the country from the impending political anarchy.

He informed his audience: “Ladies and gentlemen, I have no doubt in my mind that we are all politically conscious citizens---desirous of a better country for ourselves and our

people; hence we wasted no time in answering the call to be part of a movement that is meant to achieve only that.

“The political space in Nigeria at the moment can best be described as chaotic; this is for want of a better adjective. Wherever one looks, there is an overwhelming sense of despondency among the people.

“All over the news and opinion columns, citizens of Nigeria are yearning for a new political direction and hope in the present political manifestations.

“The reasons are not too farfetched; take a look at any of the prominent political parties and you would find that they are already in disarray or on the brink of breakups.

“They are all neck deep in one form of crisis or the other. It is either they are battling a leadership crisis, a credibility crisis, or both.

This is in addition to pervasive issues of mutual distrust and loyalty.”

The association’s interim chairman added that with the prevailing despondency

in the country, the political atmosphere looks gloomy, saying that in challenging times such as this, there had always been men and women who rose to the occasion and provided alternative ways forward.

He said every member of the planned party shall register with N200 and pay N100 monthly dues, as the fees would make all members equal owners of the political party.

“The electorate of today are people in search of a platform that is built on ideas and not individuals, a platform that is inclusive and not selective, a platform that is people driven as against money driven,” he added.

In order for the association to conclude its registration process with the INEC, it has zoned all party offices and is hoping to fill them before the deadline and hold a convention after the registration.

Under the arrangement, the North-central zone shall hold the post of national chairman, national welfare secretary,

national vice chairman, vice national organising secretary, deputy national women’s leader, assistant national secretary, deputy national treasurer with national vice women’s leader, national vice youth leader and three ex-officio members (two male and a female).

The North-west will produce the national organising secretary, national women’s leader, national vice chairman, vice national publicity secretary, deputy national youth leader, deputy national welfare secretary, national vice women’s leader with national vice youth leader, and three ex-officio members (two male and a female).

The North-east shall produce the national legal adviser, deputy national chairman, national vice chairman, national auditor, deputy national financial secretary and national women’s leader, national vice youth leader and three ex-officio members (two male and a female).

The South-south has the

national treasurer, vice national welfare secretary, national vice chairman, national youth leader and deputy women’s leader with national leader, deputy national legal adviser and national vice women’s leader, national vice youth leader and three ex-officio members (two male and one female).

The South-west will produce the deputy national chairman, national publicity secretary, national vice chairman, national financial secretary and vice national organising secretary, deputy national youth leader, deputy national auditor with national vice women’s leader, vice national youth leader and three exofficio members (two male and one female).

The South-east shall produce the national secretary, vice national publicity secretary, national vice chairman, national diaspora adviser and deputy national organising secretary, deputy national leader, national vice women’s leader with national vice youth leader and three ex-officio (two male and a female).

that in view of security reports we were unable to confirm Magu.

“We then rejected and returned the nomination to Buhari for further action.

But media reports emerging especially from interview granted by Senator Ndume meant we have to clarify issues.

“For the record, I am the official spokesman of the Senate and I intend to discharge this with honour and integrity because the sanctity of the institution is crucial to the

sustenance of democracy.

“To clarify, I have only one point of reference, which is the votes and proceedings.

“The Senate also deliberated on EFFC with regards to the security report available but referred the other nominees for screening since nothing much was found on them.

“This is the only official position of the Senate. What I say, I say on behalf of the Senate. Nigerians should be guided. There is no ambiguity in what we said.

“The Senate is an institution and we are working with the constitution and whatever rules we use, our powers are drawn from the constitution.

“We also want the media to be guided in the matter because of some misleading news in the public domain.

“Even with respect to SGF, you as journalists can do your proper investigations. The genesis was the motion raised

by Senators Kaka Garbai and

punishable under Section 15(3) of the same Act. “That you Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court converted the sum of $401m only which sum was transferred from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in Bank PHB Plc (now Keystone Bank) Account No. 1005552028 which you claimed was received as payment for Oil Prospecting Licence (OPL 245) when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act. “That you Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court directly or indirectly converted the sum of $401,540,000 ($401.540m) only

which sum was transferred from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in Bank PHB Plc (now Keystone Bank) Account No. 1005552028 which you purportedly claimed was received as payment for Oil Prospecting Licence (OPL 245) when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act. “That you Mohammed Adoke Bello (SAN) on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court aided Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited to commit an offence of money laundering by facilitating the payment of an aggregate sum of $801,540,000 only to Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited through the Federal Government of Nigeria Escrow Account No. 41451493

IBAN GB 30CHAS609242411493 with JP Morgan Chase Bank in London which you reasonably ought to have known that the said funds formed part of the proceeds of an unlawful activity to wit; fraud and thereby committed an offence contrary to Section 18(a) of the Money Laundering (Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act.”

SENATE: NO GOING BACK ON MAGU’S REJECTION, NDUME NOT OUR SPOKESMAN House correspondents when he visited the Presidential Villa on Monday went rogue, stating that the Senate neither rejected Magu, nor did it indict the Secretary to the Government of the Federation (SGF), Babachir David Lawal, over the alleged mismanagement of internally displaced persons (IDPs) funds as reported by the media.

But the Senate, in a swift reaction to Ndume’s submissions through its spokesman, Sabi Abdullahi, said

yesterday that the position on both Magu and Lawal remained unchanged.

He said: “The call to national duty is crucial. So, I am here based on a series of calls and text messages from you about what you thought were conflicting messages.

“It has become critical for the Senate to clarify issues.

The Eighth Senate believes in its integrity. We uphold and promote the rule of law, which is the basic thing about our democracy.

“We are committed to doing things differently to stabilise the polity in the collective interest of Nigerians. I would like to make the following clarifications: “I am holding the votes and proceedings of Thursday. We had two votes and proceedings because we had to go into a joint session to receive President Muhammadu Buhari.

“Our votes and proceedings are the official records of what transpired in the chamber. I briefed you on Thursday to the effect that the Senate announced

Continued on page 8

ETETE, ADOKE, OTHERS CHARGED FOR FRAUD IN MALABU OIL DEAL to section 15(2) of the Money Laundering (Prohibition) Act 2011.

In count two, Etete and Malabu Oil were accused of taking control of $401.54 million paid from the federal government escrow account with JP Morgan Chase Bank in London into the account of Malabu Oil in First Bank of Nigeria Limited, when they knew the money formed part of proceeds of unlawful activity to wit: fraud and thereby committed an offence under Section 15(2) of the Money Laundering (Prohibition) Act of 2011 and punishable under Section 15(3) of the same Act. The fraud charges are in relation to Oil Prospecting Lease (OPL) 245, a deep water oil block which was awarded to Malabu Oil and Gas Limited belonging to Dan Etete when he was the petroleum minister between 1994 and 1998 under the Sani Abacha military regime.

However, after the award of the oil block and Abacha’s death, a protracted legal dispute arose between Shell and Malabu over the ownership of the oil asset believed to hold several hundreds of millions in oil reserves.

The dispute was not

eventually settled till 2011, when the Goodluck Jonathan administration mediated and asked the parties to reach an out-of-court settlement over the ownership of the oil block.

On this basis, Shell, Agip and Total paid $1.092 billion into a designated escrow account to farm into the oil block. Of the $1.092 billion, it is believed that about $600 million was paid to Etete by the federal government, raising eyebrows about the propriety of the transaction.

While Etete has remained silent over his involvement in the oil deal, Adoke has vehemently denied any wrongdoing and last week wrote a letter to his successor in the justice ministry, Mr. Abubakar Malami (SAN), absolving himself of complicity in the transaction.

Some of the charges against the accused read: “That you Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited on or about 24th August 2011, in Abuja, within the jurisdiction of this Honourable Court directly or indirectly took control of the sum of $400 million only paid from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN 30CHAS699242411492 with JP

Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in PHB Plc (now Keystone Bank) Account No. 1005552028 when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and punishable under Section 15(3) of the same Act. “That you Dauzia Loya Etete (aka Dan Etete) and Malabu Oil and Gas Limited on or about the 10th August 2011 in Abuja within the jurisdiction of this Honourable Court directly or indirectly took control of the sum of $400 million only paid from the Federal Government of Nigeria Escrow Account No. 41451493 IBAN GB 30CHAS699242411492 with JP Morgan Chase Bank in London into the account of Malabu Oil and Gas Limited domiciled in First Bank Nigeria Plc in Account No. 2011828805 when you knew that the funds formed part of the proceeds of an unlawful activity to wit: Fraud and thereby committed an offence contrary to Section 15(2) of the Money Laundering ( Prohibition) Act 2011 as amended in 2012 and

TOP GAINERS NGN NGN NASCON 0.38 7.60 NEM 0.04 0.84 JBERGER 1.83 38.58 UPDC 0.10 2.18 DIAMOND 0.04 0.90 TOP LOSERS NGN NGN FORTEOIL 10.22 94.69 INTERLINK 0.20 3.80 VITAFOAM 0.12 2.31 UNITEDCAPITAL 0.14 2.73 TRANSEXPRESS 0.05 1.07 HPE Nestle Nig Plc N810.00 Volume: 248.710 million shares Value: N3.103 billion Deals: 3,271 As at yesterday 20/12/16 See details on Page 44

% 5.2 5.0 4.9 4.8 4.6 % 9.7 5.0 4.9 4.8 4.6

T H I S D AY WEDNESDAY DECEMBER 21, 2016

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T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

STARTERS

IMF Board Reaffirms ‘Full NEWS Confidence’ in Lagarde

Two-Minute Briefing WEDNESDAY,

NEWS

Arik Air Resumes Flights after Disruption by Aviation Unions Arik Air has resumed operations after its flight schedules were disrupted earlier yesterday by members of the National Association of Aircraft Pilots and Engineers (NAAPE), National Union of AirTransport Employees (NUATE) and AirTransport Services Senior Staff Association of Nigeria ... Page 9

The Execut ve Board of the Internat ona Monetary Fund (IMF) has expressed fu confidence n the ab ty of ts Manag ng D rector Chr st ne Lagarde to cont nue n office Th s fo owed the ega proceed ngs n France where Lagarde was found gu ty and conv cted of neg gence but d d not hand down any pun shment to her A statement posted on the fund s webs te yesterday sa d ts Execut ve Board took a re evant factors nto account n ts d scuss ons nc ud ng the manag ng d rector s “outstand ng eadersh p of the fund and the w de

“Under the fund s governance framework the manag ng d rector s appo nted by the Execut ve Board and performs her dut es under the board s d rect on “In the exerc se of ts overs ght respons b t es the Execut ve Board has met regu ar y s nce the manag ng d rector s appo ntment n 2011 to cons der whether deve opments n the ega proceed ngs n France re at ng to the manag ng d rector have affected her ab ty to ead the fund “The Execut ve Board ooks forward to cont nu ng to work w th the manag ng d rector to address the d fficu t cha enges fac ng the g oba economy”

SENATE NO GOING BACK ON MAGU S REJECTION NDUME NOT OUR SPOKESMAN you as ourna sts can do your proper nvest gat ons The genes s was the mot on ra sed by Senators Kaka Garba and Ndume and the Senate dec ded to take a ook at the abuses and the SGF was found to be part of the abuses ” Abdu ah sa d Abdu ah a so d sm ssed the a egat on that two contrad ctory reports were sent to the Senate on Magu by the DSS argu ng that the Senate on y rece ved one report through ts c erk He sa d the Senate was not aware of any other report a eged y sent to the Pres dency s L a son Officer Senator Ita Enang Abdu ah a so d sm ssed c a ms that the report re ed upon by the Senate as the bas s for Magu s re ect on was not s gned say ng the upper chamber wou d not have taken a dec s on of that magn tude based on an uns gned report He a so d sm ssed the not on that the d scordant tunes from the Senate showed that there was a crack n the Senate Accord ng to h m there was noth ng to suggest a crack n the Senate po nt ng out that he was on y stat ng that he was the Senate s spokesman and on y what he had sa d rema ned the Senate s offic a pos t on

“Truth s sacrosanct For every ne of command there s a ne of commun cat on For the record the eader that I know s Sarak and the adm n strat ve eader s the c erk to the Senate “As a ru e when you have a nom nee a secur ty report shou d be sent to the Senate The report we are ta k ng about was sent to the act ng c erk of the Senate “If you ta k about two reports wh ch one s the second one? I heard that a report was sent to Senator Ita Enang but I am not ho d ng br ef for h m He s a a son officer and f there s any commun cat on Senator Sarak or the c erk are n charge “It w be unfortunate for anyone to say that the Senate w be sub ected to a report sent to the a son office Th s does not underm ne h s office He s one of the h ghest rank ng officers So et us not br ng Ita Enang nto the ne of crossfire “It s the prerogat ve of the Senate and they have exerc sed that prerogat ve and we are a gu ded by processes If Pres dent Buhar s go ng to resubm t the name for re-nom nat on he must come w th the necessary reports e ther negat ve or pos t ve

“As for the report we got t was s gned The Senate can t ust get a document from anywhere and work w th t Even pet t ons are s gned et a one a ser ous matter ke th s “The Senate eader s the Senate eader but I am the spokesman He can t do my ob and I can t do h s ob He s my eader but we have d fferent respons b t es “If occas oned by what he sa d peop e are read ng mean ngs from t I am here to c ar fy the ssues “Moreover N ger ans are ook ng to a of us to take them out of the recess on so the med a shou d a so be gu ded to create a conduc ve env ronment for the eadersh p to avo d tens ons ” Abdu ah added Abdu ah s br efing came ust as Pres dent Muhammadu Buhar yesterday met w th Senate Pres dent Buko a Sarak at the State House Abu a beh nd c osed doors Sarak spent about 50 m nutes n the pres dent s office but d d not speak w th State House correspondents after the meet ng It was not c ear f the Senate s refusa to confirm Magu or the corrupt on a egat ons aga nst Lawa were d scussed

CBN TO ELIMINATE FOREX BLACK MARKET “ensur ng that the forex market operates as effect ve y as we wou d env sage” He sa d the a m was to “ensure there s no b ack market” but d d not g ve deta s of how th s wou d be ach eved A top CBN offic a a so confirmed that that the bank ng system regu ator was work ng on ways to deemphas se the b ack market as t had been used

over t me for specu at ve attacks on the N ger an currency However he d d not g ve a prec se t me when th s wou d happen but sa d that no unorthodox means w be used to r d the country of the b ack market for fore gn exchange He sa d “Ser ous strateg c th nk ng on how to ay ess emphas s on the

b ack market dea ers s be ng fash oned out by the centra bank rather than us ng unorthodox means ” N ger a had pegged the na ra to the do ar at N197-N199 s nce March 2015 but the CBN scrapped the 16-montho d peg n June n favour of currency free float But that has done tt e to change na ra s fortune

Email davids

on.iriekpen@t

9

News Editor Davidson Iriekpe n hisdaylive.co m, 0811181308 1

Chinedu Eze Association of Arik Air has resumed and EngineersAircraft Pilots (ATSSSAN operations after its flight ). schedules were National Union of Air(NAAPE), The scheduled today, and Saturday, disrupted earlier Transport flights resumed following yesterday Employees (NUATE) and has well by members a meeting also upgraded aircraft on certain as remittance of the National Transport Services and Air called by routes of pension, the Nigeria Senior Staff Association to make good Civil to copeto a bigger capacity tax, and statutory deductions of Nigeria Aviation Authority (NCAA) their threat the appropriate with the backlog to close down address officials to passengers authorities of manageme the airline for to whose flights and the aviation of the airline were an nt’s adherence and alleged nonpaymen affected by t of workers the unions’ Nigerian Expatriate Quota with alleged seven months Earlier, Arik unions.

Air’s domestic, disruptive action yesterday. law.

Some of the salaries regional and internationa placards placed and allowances.

Additional capacity around l flights allocated were totally Yesterday the has been ‘ARIK Arik counters read: Tobi Soniyi in shut down unions issued throughout owes staff seven Abuja a joint statement stranded passengers and from months both Lagos andthis week salaries, defaults Chartered Institute in Lagos littered the premises Abuja to other in taxes and and signed by Mr. Olayinka President Muhamma Brokers Amendme of Stock the counter with no staff at destinations such as statutory deductions Abioye for NUATE, du Buhari Enugu, criminalise Asaba, Owerri, yesterday signed to check them Ms. Frances Enang also raised nt Bill 2016.

Port eight bills into s trade unionism, Akinjole for ATSSSAN This created in. law. the hope that wide panic and Benin, Warri, Uyo, Harcourt, and union membershi the appropriati and Mr. Aba uncertainty Yola and Ocheme for on bill, currently The Senior Special at the General others to also enable union executives p: Sacking NAAPE. awaiting considerati Aviation Terminal They said on Assistant many No of the Arik to the President at will etc! on by the ground handling salary, customers services, security (GAT) to where Arik on National National Assembly, Assembly their destination to get ‘Modern No flight Arik Air,’ operates from clearance Matters (Senate), treated with dispatch would be hundreds for Arik Air slavery/ as s for yuletide apartheid Senator Ita of the immediately its ticket holders, Arik Air,’ ‘We season. in marshallin Enang, disclosed the lawmakers resume only watch passengers could g, aviation this yesterday The operations helplessly as from new ‘Every workersay no to slavery,’ supply, year break on aviation unions of the the has the right air traffic control, fuel January 10. with State Housewhile speaking picketed the was yesterday, shut downairline protection against to Enang said: safety correspondents “These are bills airline.

12 midnight from dismissal in Abuja. unjustified inspection, would be completely transmitted withdrawn in accordance The airline to the afternoon aftertill yesterday union indefinitely.

The bills are: with laws and National Judicial having been assented president, operating however, resumed vowed The the unions Institute Amendmen flights from to by him to do so and practices.’ national laws “The statement in part read: Lagos and both t Bill 2016; have become Acts enforceable aviation Advertising The picketingin a statement.

At the headquart in evening, Abuja late yesterday supported by workers will be of the airline Practitioners Nigeria.

Registration while full scheduled was over a number ers of Nigerian workers “I use this Amendment of reasons, airline, anti-riot policemen the from all other including Bill, 2016; medium to operations would resume commend members seven months many union members and Nigeria to sectors throughout Utilities Charges today.

The airline also Commission underscore of National were seen at the Assembly said it had salaries, failure to recall sacked employees Bill 2016; QualityAmendment dexterity for the industry and put in place extra flights all preventing huge entrance gates seriousness of the matterthe hand. All Arik various they people from on who Surveyors Registration Air employeesat going aviation the concentratihave shown and which domestic destinations been victimised for their had in and out.

Amendment , would operate on on the core workers, and in the effort roles 2016; and Small Bill functions According between unionisatio to bring about other to a union stakeholders are Scale Industries and Medium because of the legislature source, n in Arik Air hereby they enjoined to compared to Development Agency Amendme as headquarte besieged the Arik times like this in compliance with ensure full rs as early as Others are nt Bill, 2016. think thisprevious assemblies, I 6a.m. please.” this directive is the highest Establish African Treaty to of bills number passed Economic Community assembly withinby any single Relating to African Parliament its one year Pan (Accession and six months.” and Jurisdiction He also ) Amendme Bill 2016; University nt leadership commended the of the National of Abuja Amendment Bill 2016, and Assembly for the cooperation extended to the executive.

Buhari Signs Eight Bills into Law

Again, Buha Blames Predri’s Govt Current Hardecessors for ship

HIS EMINENCE

EDITORIAL

THE COST O

T

F NIGER DELT A CRISIS do more to

President Buhari could

he cost of the crisis in Niger the economy Delta on is recently, Mr. steep and rising. Just Shina Bankole, chairman of the vicethe security subcommittee of the Oil Producer the Lagos Chambers Trade Section of of Commerc Industry, said e and that between January and militancy has November this year, the resurgence of cost the nation oil (approxim ately $4 billion) over 130 million barrels of $30 per barrel. even During the period, at the base price of sabotage on some 58 the facilities of the oil companieincidents of recorded. s were also Bankole, who is in charge of Nigeria Ltd, security said there is now a proliferatat Chevron arms and weapons ion of small as well as a dramatic number of militant increase in the groups in the today, no fewer than 32 of such Niger Delta. “As of some with possible groups have emerged– ethnic agenda, with a criminal while others proliferation agenda,” he said. The danger came of arms could is that the tip the region country into a new bout of and indeed the violence.

restore peace

U

nfortunately, there devastating costs. are other ruinous and Millions of barrels had been and of oil are still being environment spilled through pipelines’ into the polluting the waters and the vandalism, region. The cost entire ecosystem budgeted for of the reminder of the Ogoni clean-up the is a disruptions of complexity of the problem. pipelines also Besides, the power stations affect electricity are most often supply as gas. Yet oil and shut down due gas constitute economy, contribut s the mainstay to lack of of Nigeria’s foreign exchange ing about 90 per cent of Gross Domestic earnings and about 25 the nation’s per cent of the Products.

Therefore, we and his administrbelieve President Muhamm adu Buhari ation can do restore peace more in the to the Niger Delta. “In the efforts to weeks, the Ministry last couple of seven Big Wins,” of Petroleum has launched said Dr. Ibe Kachikw the State for Petroleum u, Minister of getting the Niger , recently. “The first of the Big Wins is empowerment Delta stabilised through engagement, and Big Wins is righting enforcement. The other the wrongs through aspect of the education.” remediation and To the extent only that of law that the problem of Niger Delta is not solution. Until and order, force cannot be Nigeria is able the only and restore a measure of peaceto engage the people economy will continue to totter to the Niger Delta, the meltdown. between paralysis and

in the Niger Delta crude oil, products region with attacks and gas pipelines. month of July For instance, on alone, the Nigerian in the ment Company Petroleum Develop(NPDC) lost crude oil estimated a substantial portion of pipeline vandalism to be in excess of N27 billion to . A total of 3,213 were recorded vandalised points between August Perhaps one of the unkindes 2015 and July 2016.

48-inch Trans-For t cut had to do cados pipeline with major pipeline in the Escravos, the that transport Petroleum Developm s crude oil produced the ent Company

by Shell the Western (SDPC) and Niger Delta to others in the export terminal.

The oil

Letters to the Editor

W

At a news conference, sometime ago, an obviously absent-minded Minister ofYouth and Sports Development, Mr. Solomon Dalung had erroneously referred to Nigeria as the “United States of Nigeria”.Whatever has preoccupied his mind at that point in time, every attempt to gloss over that Freudian slip was as dumb as the mistake itself. Not a few dwelt for too long on it and perhaps... Page 18

FEATURES Christmas Pains

Wh emanyfam While many families esacrosstheg across the globe obe forward to Christmas, Mr. are looking ookngforwardtoChr stmas Mr Jude Emeka is hoping the day never comes. He issw wishing he could run away comes sh nghecou drunaway from the reality that innafewdays a few days, hhiss fromtherea tythat children will beexpect be expecting new clothes, ch drenw ngnewc othes shoes and wristwatches.They will also expect at least a specialJ‘ ollof’ with unusuallyyb big chicken, as has rrice cew thunusua gch cken ashas been the case in previous years.

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in the Niger Delta

giant had been with hundreds forced severally to declare “force majeure” of thousands vandals and of barrels lost thieves. to pipeline Indeed, Vice-Pres ident Yemi Osinbajo enormity of the problem recently when hinted on the country’s economic he blamed the pipeline vandalism challenges partly on the effects of . “One of in recession is the fact that the key reasons why we are we lost about our revenue due 60 Niger Delta and to the vandalism of the per cent of pipelines in the we lost almost said.

40 per cent of the gas,” he

TO THE EXTENT Ever since the PROBLEM OF THAT THE current administr IS NOT ONLY NIGER DELTA came ation THAT to power in LAW AND ORDER, OF 2015, the country May FORCE CANNOT BE been experienc has THE ONLY ing SOLUTION increased militancy

W

BUSINESS Equities Market Recovers N500bn in

IS IN TOWN

Southern Kadu na Youths Attac Chairman’s ks El-Rufai’s House Ablaz Convoy, Sets e

e understan d forces have that The Gambia’s security taken of the country’s over the headquart electoral commissio ers to affirm President Jammeh’s refusaln accept his loss to years in power.in recent elections after defeat to Mr. 22 He had initially (43.3 per cent)Adama Barrow who obtained conceded The Gambian compared with his 208,487,48222,708 votes 7 (39.6 per the validity President changed his cent). of the count mind when the electoralafter questioning commission

POLITICS This Minister is Totally ‘Spended’

respect and trust for her eadersh p g oba y” The five paragraph statement sa d “The Execut ve Board met today to cons der recent deve opments n the ega proceed ngs n France nvo v ng Manag ng D rector Chr st ne Lagarde “The Execut ve Board took a re evant factors nto account n ts d scuss ons nc ud ng the manag ng d rector s outstand ng eadersh p of the fund and the w de respect and trust for her eadersh p g oba y “In th s context the Execut ve Board reaffirms ts fu confidence n the manag ng d rector s ab ty to cont nue to effect ve y carry out her dut es

H I S D AY

15

The cost of the crisis in Niger Delta on the economy is steep and rising.

Just recently, Mr. Shina Bankole, the vice- chairman of the security subcommittee of the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry, said that between January and November this year... Page 15

Ob nna Ch ma

21, 2016 • T

Olawale Ajimotokan with agency report in Abuja He listed the programmes as the N-Power volunteer Scheme and the The Minister N-Power and Culture, of Information among Job Creation Programme, has said the Lai Mohammed, loans others that would provide current hardship for traders and not the making is Mohammed added artisans. administration, of the present grown that school feeding the homebut restated commitment programme, the conditional to end cash transfers The minister spokethe hardship. most vulnerable to the yesterday in members of Abuja at the special society the for youths held town hall meeting a socialand the family homes fund, at the housing scheme, Mohammed presidential villa. for youths. were also NewsAgency , according to the He said of L-R: Enugu State the government Nigeria (NAN), said on the his ministry was leveraging Deputy Governor, creative industry III; and Vice Chancellor, efforts to ease the “is unrelenting in its youth-driven Mrs. Cecilia Ezeilo; , which is University of Nigeria Governor , to create especially youthhardship in the land, Nsukka, Professor Ifeanyi Ugwuanyi; Sultan jobs and unleash unemployment.” the huge potential of Sokoto, Benjamin Ozumba, He said the hardship was “brought of the youths. during the Sultan’sAlhaji Muhammad Sa’a about by years The minister visit to the university..d Abubakar of poor or lack said the imminent planning, profligacy of transition ..yesterday. from analogue of funds, massive , mismanagement broadcasting to would create one digital of investment in corruption and lack jobs in million John three social programmes Shiklam in Kaduna To move the .” jobs going years, with most of those nation to the out youths. heads of security of the situation, he appealed Also speaking agencies Hundreds for “undiluted support’’ from meeting which at the town hall protesting of irate youths on a visit to the crisis were and the Chief Nigerians. of Kagoro, had seven other prone areas The minister the said the federal ministers: Mrs. Kemi and killings in frequent attacks assureto appeal for calm and to Bonet and Chief of Marwa, Ufoi talk to their government’s Adeosun, subjects against Southern Tagwai taking Finance; Solomon Sambo, in their massive investment Kaduna was them that governmen communities, palaces, vengeance Dalung, social programmes in t taking steps will help accelerate and Sports; Babatunde Youth the convoy yesterday pelted situation. to address the urged all aggrieved el-Rufai there was problemeach time the process of of the Kaduna Fashola, Power, sheath their swords parties to or among job between for the youths. creation, especially Ngige, Works and Housing; Chris Governor, Mallam Nasir State and embrace the persons.

It was the peace. el-Rufai, governor Labour and fifth time the The governor Employment with stones.

He said the government and Aisha Abubakar commended was visiting He said the the Emir The mob also , Minister of State placed for T premium on youth set the residence affected by the attacks. the areas was working state government prompt of Jema’a for taking rade, very hard youth developmenempowerment, Minister Industry and Investment; the of the Caretaker Chairman action to stop Yesterday visit was said to have that necessary security to ensure subjects from of Agriculture Jama’a Local t and youth his of been prompted engagement, and Rural Governmen hence the decision Development, Chief following rising were put in place to measures have erupted crisis that could to organise the Audu Ogbeh, Dr. Bege Katuka, ablaze. t Area, tension in Kafanchan protect lives during Monday’s challenged and property protest A 24-hour curfew and maintain after specifically for town hall meeting farming Nigerian youths to embrace law that the in Kafanchan, stating was imposed hour curfew was imposed a 24 and order. them. and position themselves on the area by the other governmen The minister said “I and the deputy as a protest last Monday after council chairman last Monday. the administration the major beneficiaries of t was left with no option was investing by the youths The governor $22 billion which than to impose massively the 24-hour in over assured governor, however, took oath of office to protect investment programmes in the social to savefederal government intends persistent killings in communitie the the people of and lives from ban on He further calledarea. that would s that everything the area we property of all citizens, benefit the youths. importation in the southern part of of consumer on and are committed all leaders the state. to was being done The governor, goods, particularly to ensuring , irrespective of background put an end to food items in that this is achieved,” the killings. political Barnabas Bantex, his deputy, or 2017.

Speaking when he said. efforts affiliation, to support T H I S D AY He appealed other top government he visited • WEDNESDAY, the Emir officials alongside to avoid taking to the people assuringaimed at ensuring peace, of Jema’a, DECEMBER laws into their Alhaji hands Muhammadu them 21, 2016 Isah Muhammad in measures were that proactive u, and urgedthe event of any crisis stop the killings being adopted to traditional rulers and restore lasting to peace in Southern Kaduna.

EDITORIAL The Cost of Niger Delta Crisis

Lagarde

DECEMBER

Arik Air Resu mes Flights Disruption by Aviation Unafter ions

Letters in response to specific readers may TO OUR READERS send such letters publications in THISDAY opinions on topical along with their should be brief local, national (150-200 words) 1000 words). and internatiocontact details to They should and straight be sent to opinion@nal issues providedopinion@thisdaylive.com. to the point.

Interested We also thisdaylive.com they are well-written and should alsowelcome comments and along with the not be longer email address than (950and phone numbers of the writer.

18

MIDWEEKPOL ITICS THE This MinisterN E W S M A K E R is Totally ‘Spe nded’ T H I S D AY

• WEDNESDAY,

DECEMBER

21, 2016

Group Politic s Editor Olawa le Olaleye Email wale.o laleye@thisda ylive.com 0811675981 9 SMS ONLY

A total misfi t, no one perso administration n depicts the failure and Dalung. Shol than the current Minis a Oyeyipo write ter of Youthincompetence of the Muh and Sports ammadu Buha s t a news conference Development, ri ago, an obviously, sometime Mr. Solomon absentminded Minister

A

of Youth and Sports Development, Solomon Dalung Mr. ously referred had erronethe “United States of Nigeria”. to Nigeria as preoccupied Whatever has every attempthis mind at that point in was as dumb to gloss over that Freudiantime, dwelt for too as the mistake itself. Not slip didn’t think long on it and perhaps, a few it out soon afterwas such a big deal. ThatDalung fizzled it was dropped.

If you thought, could be condonedhowever, that such a slip “spended” jargon , what with this trending he just landed lexicon? At his on the of Represent budget defence before English the House atives committee justifying the , Dalung, while approve his reason the lawmaker 2017 s how he spent budget, tried to explainshould the 2016 vote. away And in a convincin g fit, especially he was faced with the charge when beyond the of spending approved limit considered in 2016, an a the gathering grave offence, the ministeraction that “The funds told properly spended spended were because we intervention got them funds Whatever Dalung from Mr. President. from ” was thinking time, it was at that material certainly to manifestation no good but accounts for of his crass incompetence, a clear why which and why indeed, the ministry is the way it is forward under the ministry may not move him.

Across the world, not only has to be one sports proven factor people generally, that unites Nigerians potential and it is also a way to annex and curb their habitual youth But it is becoming restiveness . obvious adequately equipped with that Dalung is not to move the such tact required ministry forward.

With his incessant incautious utterances, and inaction, Dalung has actions in the public put domain and his incompetence equal dose has been of attacks for his apparent getting In one of its daily wrote; publications, a reputable naivety.

“Dalung has national Minister”. The become anti-Sport s Dalung...a to state that same newspaper went poor representat further ive of change Minister” and“Dalung is not fit to be so many others Sports part his sack outright of have called for itself the World Cup is a national with requisite and replaced with and it easily someone pride in knowledge, resonates the Nigerian sports country in capacity in experience name global sports sports and big and politics. of the international men and women, who When politicians management. pride for citizens consider tourname It is a Cup, are faced with when participate they convenien Some of the Olympics and nts such as the World in such national their countries criticism, reasons for others as a themselves that want themtly attribute it to the opposition It was equally which President competitions. way to sell Buhari could replace Dalung to out of office. unacceptable include that case, he personally It was due to the global market.

But in Dalung’s to many young knowing full with a better hand similar unfavoura unable to evaluate Football Federation sports that is handling well the Nigerian ble attitude the a sensitive ministry that he (NFF) of Dr. Goodluckimmediate past administra to was seen to are quite passionate that Nigerians have fueled is crisis-ridden, he Ebele Jonathan, tion about. embarrassed that crisis by If he was was seriously a peace meeting that when that calling turned out field for the the 2012 Olympics Team Nigeria returned have been expectedthoughtful, he would Since he was to be a battle NFF from and not in London to make such appointed because of statement like Chris Giwa, President, Amaju Pinnick an uncouth Presid poor preparatio empty handed Nigeria should by not ent Muhammad business campaign n. Then countries other in fistycuffs who almost engaged as blessed not have any each over leadership ing to qualify Buhari in Octob office. u on the medals as Nigeria in sport talents FIFA World to the same for the 2018 Cup. were that The comical denials and Dalung got table.

Apparently, characteri counter-denials Dalung, rather er 2015, he did not coach for the sed the recruitment of mentators, whopounding knocks from during an interview know what than Super foreign com- altogether were unable Eagle were comments considerin Voice of America on the Hausa serviceto say getting acqua to rationalise another issue . inted with of the new his g that of qualifying that since Nigeria(VOA,) when he contended ‘Nigerians and his brighter. office, has for the World Nigeria’s chances were the internation is not favoured World Cup, been more Cup is now told al communit The national to win the of a revolu public even of Paul that Nigeria had engaged y team already the six maximum on the champion funds should not be tionary and Le Guen to manage the services secured ‘wasted’ activis points from matches. the Super It is also unclearship. two qualifier swiftly, the news was t leader. Watch whatever he discarded. TheEagles but claimed he achieve by Since he was ers intended to of the nation wasn’t aware minister pinpointing appointed and madu about by hosting and President Muhamthe NFF maintained ’s sports NFF’s decision Buhari winning the that the process of sector aware world cup was that the minister than getting in October 2015, Dalung, with corruption are resolute acquainted rather That and insisted that his denial was has been more aspect that footballbut that is surely riddled the minist with that was yet another was a shock. not the of a revolution his new office, loving fans er national leader. for. Rather, is The a embarrass totality ary and activist are looking Watchers of traged it of the way out because of the nation’s has been managing resolute that and manner ment. tacts and the is pomp, celebration, sports sector his perceivedy glamour, the Dalung fun coming are the the ministry, of his perceived minister is a tragedy event that attracts with the four-yearly lack of under particularly because thatwrong information he lack of understan standi critical sector over the world. over 3bn viewers once gave the the ng failure the ding of from all public of the reason critical sector to account relate with and the temperament Those were for money for the needed to youths and carelessly un-evaluate and the is the temperamen provide fundsfederal government’s sports-related that have put Before his commenta d statement refusal to Dalung on for the country’s t neede s relate Dalung’s incompete ry on the Worldissues. for the 2016 millions of Nigerian the wrong side with youths d to Cup, to ponder. Rio Olympics was preparation with sports lovers the sports ministry nce in the handling another factor because being sports and of began to clearly when Contrary to -related issues his position, he was unablemanifest crystal May sporting bodies last year approved President Buhari, to get in the budget Rio Olympics. to properly prepare various him by the defunct for the National Sports brought to Commission CONTINUED ON PAGE 19

FEATURES

Christmas P ains

W T H I S D AY

• WEDNESDAY,

BUSINESSW DECEMBER

21, 2016

ORLD

12 Days on Bargain Hunting An end of year renewed demand by bargain hunters lifted by stock market 5.8 per cent in 12 days on the last month of the year. The bearish trend in the market had depressed the Equities Ma rke overs N5 Hunting 00bn in 12 market by 7.27 per cent in the month Days on Bargaint Rec of November... Page 23 R A T E S

NIBOR OVERNIGHT 1-MONTH

A S

4.150% 15.8625%

NIBOR

A T

3-MONTH

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18.3916% 21.0554%

D E C E M B E NITTY R 1-MONTH 2-MONTH

11.4397% 16.8358%

Group Busine

23

ss Email chika.a Editor Chika Amanz e-Nwa manzenwachu kwu@thisday chuku live.com 0803329415 7

9 ,

3-MONTH 6-MONTH

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EXCHANGE RATE N305//1US DOLLAR* *AS AT LAST FRIDAY

17.1394% 19.7842%

Quick Takes

LCCI FSG Gets

New Chairm The Financial an Commerce Services Group (FSG) and Industry of the Lagos (LCCI) has elected to steer the Chamber of ship Mrs. Mojisola next two years. of the group and take Bakare, charge of the previous This followed the expiration of its affairs for the executives of the term Bachelor of of the group. of office Arts and a Master’s degree in English from Mojisola Bakare holds the Lagos State a degree in University, Bangor, North Business Administration University She is an elected Wales. from Bangor member of Institute of Bankers of the Governing Council of Nigeria and -graduation she has over the Chartered work been in Banking. experience, out of 26 years post which twenty-fo The LCCI FSG ur years has mandate to Chairman expresses promote and commitment financial inclusion protect the to the group’s interest of members Director General, and regular engageme , ensure Mrs. Mojisola LCCI, Mr. Muda Yusuf nt with regulatory agencies. said: “We are Bakare assumes Services Group.’’ very pleased the role of as role as a leading Her election will ensure Chairman, LCCI Financial and enhance in the operation advocate of best business the Chamber’s s and regulation practice of the financial and principles services sector.”

Fidelity Bank Wins Ghana Fidelity Bank L-R: Managing Plc said it emerged Award Director/ CEO at the The Banker’s Insurance Brokers,( Ghana ‘Bank Mutual Benefit of the Year’ London recently. 17th annual Bank NCRIB) Kayode Assurance Plc, 2016 of the Year Okunoren at A statement awards held the Members Segun Omosehin with quoted in ’ Evening of accomplishment the judges while commenti NCRIB held the President, Nigerian in Lagos … ng on Fidelity Council of Registere Fidelity Bank to have said: “In a highly recently Bank’s has emerged competitive d country award. banking sector as the standout innovation and Sound portfolio managem entrant for the Ghana ent, a commitm to the judging an excellent financial ent performa panel’s nce all contributeto decision.

“In local currency d terms, Fidelity 31 per cent in Bank’s Tier 1 2015 while its capital increased per cent and Goddy Egene by 83 per cent total assets and net profits hit 33 per cent respectively.

Similarly, returngrew by 36 in 2015, up CAPITA L MARK while its cost-to-in from An end on of come ratio fell31 per cent in the previousequity ET has in turn increased in 2014. “To demand by year renewed to 53 per cent, year, better tackle bargain from demand Bank for non-perfo hunters 56 per cent lifted by oil stocks. establishe marginally rming Index stock market by 0.56 booking only d a dedicated recoveries loans (NPLs), Fidelity This developm per cent in 5.8 close rose from 25,241.63 the to a recovery ent led to to N32.20 billion. per cent book dramatica highest quality assets unit, while its strategy last month 12 days on the ing at 26,707.10 in 12 of 5.8 per of According trad- N500 of the year. days between cent or industry NPL lly outperforming the has led to the lender’s loan to them, bearish trend billion The 30, sector the and Decembe November compared within 12 days, movement in the According to ratio was 15% against Fidelity average. In 2015, had depressed in the market Similarly, NSE ASI r 16, 2016.

Novemb the with Bank’s 2.27 completed the statement, in 2015, market capitalisat 7.27 per cent. a decline of equity er showed that in 7.27 per cent the market by added per cent.” the market is awaiting the ion deal, it stated, acquisition of ProCreditFidelity Bahason Ghana, Analysts at November, in the month of trillion N8.689 trillion to N9.189 economic bolstered the making operators within the same sized enterpris had said the FSDH Research investors policy directionclear bank’s positionSavings and Loans. The and other equity market period. corded for stakeholders Investors renewed to take while growing e (SME) market, in which in the small and mediumapprehensive reto be its second largest demand “Any positive positions.

ProCredit that negative for oil/gas and banking ATMs and a the bank’s footprint by on month month ment sentiments pronouncefurther 693,000 loss in Novemb a further 75 was a focus, Particularly, stocks. saying would persist in Decembe branches, 109 the end of customers. most er, the federal r 2016 from that macro-ec till have the been swayedinvestors challenge IFAD to Allevia However, a year. s continued onomic will improvegovernment that stocks by to to affect te The Internatio confidence Povert by investors renewed demand Organisa the decision oil quoted compani economy in the es. of will likely Morocco on nal Fund for Agricultur y in Morocco They said, advantage of , who are taking Producin tion of Petroleum lead to a modest appreciat al Monday the living condition signed a financingDevelopment (IFAD) picked up market activities equity reversed the low priced stocks, Countrie g and Exportin ion in the and in the month agreement s of rural people market. The poverty by to improve a growth of trend leading 36 to OPEC s (OPEC) and non-g November 2016, of planned in mountain 30 per cent 5.8 compared crude oil production members, who areas and reduce by 2030.

The Atlas Mountains with October Specifically, per cent. cut may have positive agreed deal 2016.

Rural Developm people in 18 The volume Stock Exchange the Nigerian This to curb their productio a ent Project will price. Consequimpact on oil rural of stocks n. increased decision (NSE) All-Share benefit and Beni Mellal. communes in the provinces ently, equity by 65.96 pertraded prices may respond the price of led to a rally in to The total project of Ouarzazat 182,000 including a cent the N6.09 crude oil, e, Tinghir investment $45.1 which stocks billion. The value analysts said. positively,” is US$61.3 million, project is cofinancemillion IFAD loan and of traded also a $1.4 million WEDNES increased and by the beneficiad by the Governme DAY, DECEMB grant.

Continued ER ries themselv nt of Morocco ($13.6 The The financial on page 24 million) 21, 2016, • T H I S D es ($1.2 million). agreement AY was signed Vice-President in Rome by Michel Abouyoub.In of IFAD and Morocco’s Mordasini, Morocco,the Acting Ambassador macro-ec agricultura to Italy, Hassan Features Obinna Chima onomic lsector Editor Provinces locatedstability and economic remainskeyfor national : Charle s Ajunw and social developm Email charle due to devastatin in mountain a Total number BANKI NG ent. s.ajunw g floods and ous areas are among a@thi of climate change, (12.49 million the poorest, prolonged ers that have of bank customsdaylive.com as registered on financial services. the high illiteracy droughts from the impact Furthermore, at June 2015). ruary Bank Verificati the rate and lack 14, 2014. The the data on Number to improve steadily.

The project showed that of access to (BVN) as at initiative was aimed will focus on enrolment For at ensuring areas that are of climate change stood at 49.14November 2016 this instance, as at January the BVN platform on identity unique year, 30.13 for all bank million, sustained there are poverty and socio-economicprone to extreme effects its uptick data compiled customers million and other in tomers had vulnerability hotspots. users of financial gotten their cus- climbed to July, when it services and where Nigeria Interbank from the compared 36.79 million in the country Settlement with the 2.24 BVN, registered Systems Plc’s use of the by the bank customer million (NIBSS) website it was as at January revealed. s as means customers’ biometrics 2015. Also, (12.73 million as at July enrolment of identifica 46.39 million increased further 2015); The data showed tion.

The 31.11 million in August We are optimistic to (13.74 that the 2016 enablesBVN is a number figure represente as million at that February the that this year external factors in same one person d a significan increase, compared that partly to have t February (2.71 million as at in 2015); 47.35 millionmonth single identity contributed at 2015); 32.19 with the in as system. in the bankinga to 21.2 million million as September (14.58 million in March economy into push our It basically (3.34 million at Septemb a year ago. recorded exactly March ensures that a customer ebb in 2017 recession will as at er 2015); 2015); 33.63 ’s The data also million in 48.14 million customer and stolen. It has identity is not showed that April 2016 (7.71 million at October been described s as as on a monthly this year. a ‘silver-bu 2015); 35.44 April The ment on BVNbasis, the enroll- (9.2 million in many of the llet solution’ to May (CBN),Central Bank of Nigeria million has continued challenges in collabora in the and 36.12 as at May 2015); the tion with banking industry. A million as Bankers’ Committ customer is only expected at June introduce to register d the BVN ee had at on Feb-

EXCHANGI NG VIEWS

CITYSTRINGS New Shopping Experience for Abia

CITYSTRING S

49.14m Ban November k Customers Enrolled on BVN

New Shoppin g

Residents For a state synonymous with commercial activities, Abia State is replete with markets, including the famous Ariaria International Market in the commercial city of Aba. Page 36 F

as at

Experience for Abia

Residents

Emmanuel Ugwu write Umuahia, shop s that pers have been since Governor Okez ie Ikpea reveling in new shopping expezu inaugurated the Abia rience Mall in

Continued

on page 24

President Muhamm adu Buhari

R-L: Abia State deputy governor, hia South federal Hon. Udo Oko constituency, Chukwu,former during the inauguratio First Lady, Mrs. Mercy Orji (Osinulo), n of the Abia

Mall in Umuahia… or a state synonymo Senator T.A.Orji, recently Governor Okezie mercial activities us with comIkpeazu and development.” , Abia State Hon. Sam Onuigbo, replete with “Nobody knew is thing would representin that such a the famous markets, including g Ikwuano/U happen in Umuahia, muahaia North/Umu ence offered It was actually Ariaria Internatio Market in the to customer made possible ” she added. it was anal initiative s by Shoprite. commercial just a matter through the of the Aba. But none city of of But shopping of time before joined the league. scattered in Abia, Senator immediate past governor malls Umuahia various parts of the markets office, Orji saw Theodore expand the facilities were across Nigeria, saying fered residents of the state Orji. he developed infrastructure the need to further the appetite While in and a shopping Ilorin, Ibadan,already in operation in such with departme conveniences associateof- to replicate base of Umuahia for striving any good Enugu, Onitsha and mall was a d places believe that changed with ntal stores. But all fitting Owerri. “We he had visited.thing he saw in other Towards the end of that has every his second term addition. have governor, the one of such Shopping mall opened businessthe arrival of Shoprite a retail mall state in Nigeria should in office as beautiful infrastruc Orji-led administr was as in other he said, adding located at the at the newly built Abiawhich elsewhere and ation entered tures he saw into a partnership north end felt the compellin Mall it to that Umuahia nations,” with a private for positioned Umuahia. of the be the construction replicated developer was Residents erupted capital city, to have a in Umuahia g need for Garki area of the mall shopping mall well residents would same motive they trooped in ecstasy . It was the at the Old of the city. that made to Shoprite and definitely as Specialist It was conceived prices and they had been to experienc Hospital and him to build the Abia executed as a Public Private quality goods. enjoy the low e what the and Diagnosti with on television hearing about or watching On Partnershi ultra the Novembe c state governme modern Ophthalm Centre and r 24, 2016 nt-owned Abiap (PPP) Mall was formally Company Limited replicate thousands . It was an endless stream when ology Centre of Retail nor to of after he what he saw in the and inaugurated the Abia to experienc people trooping to Ikpeazu he United States as the partners. Before a private develope returned

by Goverthe mall e the novelty. poured encomium r predecess the fruition, the Before the comingfrom a medical trip.

“It’s really WEDNESDAY or for initiating s on his Department project came into a new experienc DECEMB of Abia Mall economic , neighbour (Umuahia of Arts and ER 21, 2015 to Umuahia and the Abia State Universal e for them ing • T H of residents),” Culture displayed project. He said this important (ASUBEB) I S Enugu already enjoyingstates the branch said Musa D AY that Senator Education Board visionary leadershi had to be relocated manager Usman, Orji the modern and Imo were for the project, He told THISDAY of Shoprite Umuahia the mall. shopping experip in initiating to make way which After the that it . ceremony economic legacies has become one some of the ground breaking skeptics expressed people might was obvious that of the he bequeathe the possibility Abia chief elsewhere d to Abia. The doubt executive, and it was have seen Shoprite also pointed so as Ochendoof completing the project about the Abia Mall for them to a pleasant out surprise see admirers, was , name given to Orji more opportunities would provide employmthat their unbridled it right in their area for Abians by his to on his way hence On ent happiness.

53 house. Eventual mood was and also contribute out the November “Yes, the infectious ly it turned of government state. internally generated 24, 2016 an abandone on the faces joyous when shoppers and revenue out not d of the of to project as work the smiling the Abia Mall the be after he left women attending Accordinemail:f young did not stop g office. His successor was to them havingmen and formally the Ikpeazu kept tributed to to him, oreign employment has also thisda inaugurated , Dr. Okezie the aesthetic mall desk@ paying regular to the constructi capital. Orji, over 60 per at Shoprite.” Usman gained by Gover beauty of the conylive.com inspection visits who said that cent of the employee state on was nor Ikpeazu site to ensure present at the of the project. together with Armstrong s are completion ceremony he poured encom his wife, Mercy, his dream but said he Iwuoha, who works in Abians.

The project to come true was Umuahia said that he witness predecessor iums on his and built the director of the firm that happy that Owerri where a regular visitor to Shoprite was very the project designed he usually spends for initiating at has been complete said that the Abia Mall, Mr. Chuka noting that could not hide his weekends this important it would Okoye, the project escaped his feelings The Church , up by the economic at the new state. The Abia boost the economy d, being caught of England shopping mall at Umuahia has after of project. He Dorgueconomic Central senator recession plaguing nation as it that “there thing for Umuahia . appointe d its first Karowei “It’s a good were had recalled said black gone is the many to that ,” he enthused beSenato far before recession bishop for 13th bishop way) when obstacles (along the has a in. Apparent sentiment was we started ly the state of Woolwich r significan Similar20 Orji years displa in a move. that the set that and willyed developetrsNigerian the governme Abiakam, a also expressed , populatio vision

by Mrs. Gloria significan consecrat ary staff of the increases leadership nt and the has “today it has come project” adding leader n, many ofhad both kept tly Southwar ed ship kbeCathedral at worshipthe Information, Federal Ministry to fruition its to theirhas agreementwhom long been become one of initiating terms Umuahia office. and it minority ethnichandful in the a hence concern of March. in black-ma jority a similar backgrou the legacy on 17the ofinthe will stand projec the addition in the of According to ofclergy Pentecost Abia Mall wasPPP projects that church. t,Dorgu the test of nd could execution Last year,the which has becom of senior al churches in her, leadership time.” a catalyst aesthetics of Abia Mall to the infrastruct delayedthe proportion As be that marriage rather not than Ochendo a governor was born even one the BAME of between Abia capital Downing uralpositions.

C of E. had left office. after modern Orjifor dialogue is between people and e At the develope Okoye man and a among econo city “is a signStreet an- ofbrought the C had up a number said that markets, a press rs entered embarkin those black mic legacie nounced of built woman, and a E and conferenc including of ordained in in Nigeria, and he beque g on thethe partnersh Market, Newmajority thatof Woyin insistence the public e at into its the Ubani process the UK. Wool- Southwar ip with k Cathedral that gay clergy becoming private Industrialchurches Ibeku and Nigerians Abia of wich, athed to Abia saids onethe governme , Dorgu Ndume must in south-eas Market at Ahiaeke be celibate. and the Sparelooking since 1.9%, nt atopriest of mall to a spiritual t London, his priorities his company build fellThese compared for Parts Market the business with bishop would as of the was already home.” new markets a at Dorgu of designing Ohia. – known to some be to celebrate general populatio in share Market, Although the racial of congregation Umuahiahis hereplaced and Sentamu Timber Market aboutand of were diversity of Central 15%.developin g nrespectiv In previous the only blackand Woolwich – trained as as Brother Ngbuka KMarket years Dorgu ely that bishops, area. He the it has been 4-5%. a medical said: were he intended all demolishdoctor said “I would The church ed andin Lagos before being BAME [black to “encourage a committe established describe the position not ordained.

He was brought and minority as up in a e for minority lonely. There is ethnic] vocations Christian a lot of and more ethnic Anglican concerns support and friendship said as a teenager family but participation more than in ministry” .” he rebelled Dorgu said 30 years ago, against the “I will celebrate . he which recently gospel and did not the left diversity in stepped up believe the C of the church.

E was institutionally race, ability, efforts to improve gender, sexuality After encounter BAME racist, The US embassy ing Chrisand class representation. An initiative that he preferred adding tian students … Celebratin called and other consulatesin Ankara in Ankara. the is a gift,” he g our differences was Turning Up the Volume “unconscious bias”. term he decided to at university, in Turkey were closed set up in 2012 “If the as “accept Jesus added. church was The on my personal The only racist, I wouldn’t with the aim of doubling individual firedTuesday after an the US embassy is just across saviour and street from the Lord in bishop in the other black of BAME the number be where I am of the mission shots in front tion clergy in senior church is makingtoday. The came to my early 20s”. He building where art exhibi- land is John Church of Eng- positions in the an effort Turkish police the capital. the attack to be more within 10 years. was ordainedUK in 1987 and archbishop Sentamu, now have detained on the ambassador inclusive.” the man, who Dorgu told as a priest On the issue the Guardian took out a shotgun was not immediate occurred. It in the churchof York – second his 1996. in he hid in his ly clear if the appointme hierarchy – who which has dividedof sexuality, two incidents coat and He described were connected was consecrated as step in the nt was “a small of England the Church about eight himself as The bishop of right direction” rounds into fired an evangelic and the adding: the air Russia leaders of Turkey and. Stepney 20 years ago. before the embassy’s al There Nigerian “Quite a lot of, Anglican communio global will fly no partybut added: “I have described are security as guards intervened n for the attack andthree BAME archdeaco colours … I an attempt to ns Woolwich Christians [in the decades, Dorgu said he two will promote unity, one dean. disrupt ently overpowe and appar- to repair stood firmly area] are from respect, BAME ties between efforts Anglican backgroun an official behind the church’s integrity and collabora No one was red him. represent countries, their among position. The tion d. I hope incident, which hurt in the opposing which have backed among clergy and ation my appointm church tions.” different tradirefuses ent senior to conduct will be occurred at sides in the model. Seeing 3:50am local same-sex Syrian civil war. time (00:50 GMT), someone froma church weddings hours after on the heSince his ordinati traditional The American a Turkish policeon, has been biblical grounds man who condemne a minister said its missions embassy in London d Russia’s Istanbul, military role in Ankara, parishes . in Syria fatally and the Russian Ambassad shot city of Adana southern or Andrey Karlov at a photo exhibition “closed for normalwould be operations on Tuesday”.

INTERNATIONAL Church of England Appoints First

INTERNATIO NAL

Black Bishop in 20 Years The Church of England has appointed its first black bishop for 20 years in a move that significantly increases its handful of minority ethnic clergy in senior leadership... Page 53

US Embassy in Ank Closed after Gun ara man Fires Shot

Russian Amb Andrei Karlo assador Killing: v’s Body Flow Home from Turk n ey

The body of the sador assassinateRussian ambasHowever, Russia policeman in d by a Turkish agreed and Turkey flown home. Ankara is being was quickly the assassination an act of “provocatio Andrei Karlov n” with Russian President was shot Vladimir Mevlut Mert Altintas, 22, by saying it was “undoubtePutin times as he nine aimed dly... gave at disrupting Monday, apparentlya speech on malisation the norat Russia’s involvemen in protest the “peace” of bilateral ties and process in Syria”. t in Aleppo.

On Tuesday afternoon, They Karlov’s togetherhave vowed to work coffin was carried airport’s tarmac, across Esenboga behind to find out who is draped in a Rusthe murder sian flag.

Russian investigato of Karlov. Syrian Observatory He was accompani rs arrived in Turkey to for Human help on Tuesday. ed to a waiting plane, Rights said Mr Turkes six buses were by an honour sent by Moscow, to Karlov also paid his respects attacked and guard of six Turkish at Tuesday’s ceremony, torched soldiers. describing him as the man ‘An eternal symbol of friendship’ “has become the eternal who A short ceremony, symbol of Turkish-Ru ssian friendship” attended

by Ankara’s In his . top Turkey’s Deputy diplomats and veteran time in Ankara, the The only suspect held after a security Tugrul Turkes, Prime Minister served diplomat, 62, who had Monday’s deadly lorry threat. as Soviet ambassado a Berlin Christmas attack on Karlov left thetook place before to North Around 20:14 Lukasz Wasik, market r country for the manager last time. the the 1980s, Korea for much of been released, prosecutor has (19:14 GMT), the local time of the transport company, sought protection lorry ploughed s say. through had to grapple They say they In highly unusual Polish a major and asylum told in Germany, with the popular do not market “good,TV Mr Urban had been a Muslim country, scenes for plane crisis when a Turkish sufficient evidence to pursuehave at Breitscheid ” she a platz, shot quiet case The co-leader said. the Berlin’s down a Russian and near a Russian against the Orthodox priest of Germany’s main shopping west devoted to his honest person’’ anti-imm said prayers close to the Syrian border. jet been identified man, who has the Kurfuerste street, igration AfD and swung by media only “I believe work.

Demandin incense over ndamm. party, Frauke Petry, he would coffin, while Along with the ogy, Moscow g a Turkish apol- as Pakistani national Naved a the dead, 49 give up the vehicle and not Merkel’s liberalblamed Mrs The man earlier B. imposed damaging stood holding Turkish soldier sanctions would defend it to policy on denied any people were injured, a picture of - notably a freeze involvement. the end if were migrants.

14 of attacked,” them seriously. murdered diplomat the on He was captured “The milieu Mr Wasik said. and Karlov’s flights by Russian tourists - and charter in a park after reportedly afternoon, 24 As of Tuesday widow Marina in which such the two the countries only The interior of the acts can flourish fleeing been recently scene. ministry Mrs Karlova wept. released frominjured had Christmas has been Meanwhile, a senior mended ties. markets in said negligently and German Chancello when Altintas was present ment T The usual driver hospital.

Berlin systematic would remain official told the urkish govern- Merkel, r Angela Polish of Associated Press her husband, opened fire on that the who laid flowers closed on imported over the past ally citizen Lukasz the lorry, Tuesday but who took up killing and a half,” year Urban, was other posting in Ankara his not a one-manwas“fully professional, the scene of the attack at found dead on she markets said. the passenger outside of the capital Tuesday, vowed Media captionVi on seat of action”and that It was not clear in 2013. the lorry, reportedly operate as normal. would of German the those ce chair to if the gun- attack was well-planned. responsible “as punish gunshot and man, an Ankara Chancellor Merkel Police have arrested stab wounds with harshly body. party tells right wing as the law requires”. riot police to member who his six expressed No people The her over the gun was recovered. concern that World at One that Her open-doo the dead in a gun was later shot tintas’s killing, including AlMr Urban, Chancel 37, had been might turn out to be attacker Merkel is mother, father, migration, which r policy on working officers, had fight with Turkish and to blame for lor an asylum sister seeker. for saw links to any attack Horst group. well three other relatives, as asylum seekers arrive 890,000 Zurawski, thehis cousin Ariel Seehofer, “I know as his roommat Polish in Ger- the leader the many last year, lorry, who said owner of particularl that it would be sister of Mrs Merkel’s e. country, with has divided the been y in contact at he had last to bear if difficult for us all urged party in Bavaria, critics calling 16:00 (15:00 it it GMT) on the person turned out that rethink the chancello r “to Monday. who committe our immigrat this act was ion someone whod a n d s e c u r i t y poli and to c hange i cy t”.

SPORTS FFresh eshTwo Two-year yea FFIFA FA Ban Looms for o Adamu Three years after he completed serving a three-year ban for ethical violation former CAF and FIFA Executive Committees member, Dr Amos Adamu, iss innfreshtroub fresh trouble that AmosAdamu ethat may earn him another two-year ban from all football related activities.

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Church of En gland Appo Black Bishop in 20 Years ints First

Berlin Atta was in Lorrck: German Police y Unsure Sus pect

WEDNESDAY SPORTS F h Two y F FA B n Loom o Ad mu

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9

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

NEWS

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

Arik Air Resumes Flights after Disruption by Aviation Unions Chinedu Eze Arik Air has resumed operations after its flight schedules were disrupted earlier yesterday by members of the National

Association of Aircraft Pilots and Engineers (NAAPE), National Union of Air Transport Employees (NUATE) and Air Transport Services Senior Staff Association of Nigeria

Buhari Signs Eight Bills into Law Tobi Soniyi in Abuja President Muhammadu Buhari yesterday signed eight bills into law.

The Senior Special Assistant to the President on National Assembly Matters (Senate), Senator Ita Enang, disclosed this yesterday while speaking with State House correspondents in Abuja.

The bills are: National Judicial Institute Amendment Bill 2016; Advertising Practitioners Registration Amendment Bill, 2016; Utilities Charges Commission Amendment Bill 2016; Quality Surveyors Registration Amendment Bill 2016; and Small and Medium Scale Industries Development Agency Amendment Bill, 2016.

Others are Treaty to Establish African Economic Community Relating to Pan African Parliament (Accession and Jurisdiction) Amendment Bill 2016; University of Abuja Amendment Bill 2016, and

Chartered Institute of Stock Brokers Amendment Bill 2016.

Enang also raised the hope that the appropriation bill, currently awaiting consideration by the National Assembly, would be treated with dispatch immediately the lawmakers resume from new year break on January 10.

Enang said: “These are bills transmitted to the president, having been assented to by him have become Acts enforceable in Nigeria.

“I use this medium to commend members of National Assembly for the industry and dexterity they have shown and the concentration on the core functions of the legislature because compared to times like this in previous assemblies, I think this is the highest number of bills passed by any single assembly within its one year and six months.”

He also commended the leadership of the National Assembly for the cooperation extended to the executive.

(ATSSSAN).

The scheduled flights resumed following a meeting called by the Nigeria Civil Aviation Authority (NCAA) to address officials of the airline and the aviation unions.

Earlier, Arik Air’s domestic, regional and international flights were totally shut down and stranded passengers littered the premises with no staff at the counter to check them in.

This created wide panic and uncertainty at the General Aviation Terminal (GAT) where Arik operates from as hundreds of its passengers could only watch helplessly as the aviation unions picketed the airline.

The airline however, resumed operating flights from both Lagos and Abuja late yesterday evening, while full scheduled operations would resume today.

The airline also said it had put in place extra flights on various domestic destinations which would operate between

today, and Saturday, and has also upgraded aircraft on certain routes to a bigger capacity to cope with the backlog of passengers whose flights were affected by the unions’ disruptive action yesterday.

Additional capacity has been allocated throughout this week from both Lagos and Abuja to destinations such as Enugu, Asaba, Owerri, Port Harcourt, Benin, Warri, Uyo, Yola and others to also enable many of the Arik customers to get to their destinations for the yuletide season.

The operations of the airline was yesterday, shut down from 12 midnight till yesterday afternoon after the unions vowed to do so in a statement.

The picketing of the airline was over a number of reasons, including seven months salaries, failure to recall all sacked employees who had been victimised for their roles in the effort to bring about unionisation in Arik Air as

well as remittance of pension, tax, and statutory deductions to the appropriate authorities and management’s adherence with Nigerian Expatriate Quota law.

Some of the placards placed around Arik counters read: ‘ARIK owes staff seven months salaries, defaults in taxes and other statutory deductions, criminalises trade unionism and union membership: Sacking union executives at will etc!

No salary, No flight Arik Air,’ ‘Modern slavery/ apartheid in Arik Air,’ ‘We say no to slavery,’ ‘Every worker has the right to protection against unjustified dismissal in accordance with union laws and national laws and practices.’

At the headquarters of the airline, anti-riot policemen and many union members were seen at the huge entrance gates preventing people from going in and out.

According to a union source, they besieged the Arik headquarters as early as 6a.m.

to make good their threat to close down the airline for an alleged nonpayment of workers alleged seven months salaries and allowances.

Yesterday the unions issued a joint statement in Lagos and signed by Mr. Olayinka Abioye for NUATE, Ms. Frances Akinjole for ATSSSAN and Mr. Aba Ocheme for NAAPE. They said on ground handling services, security clearance for Arik Air ticket holders, marshalling, aviation fuel supply, air traffic control, safety inspection, would be completely withdrawn indefinitely.

The statement in part read: “The aviation workers will be supported by Nigerian workers from all other sectors throughout Nigeria to underscore the seriousness of the matter at hand. All Arik Air employees, aviation workers, and other stakeholders are hereby enjoined to ensure full compliance with this directive please.”

Again, Buhari’s Govt Blames Predecessors for Current Hardship Olawale Ajimotokan in Abuja with agency report The Minister of Information and Culture, Lai Mohammed, has said the current hardship is not the making of the present administration, but restated commitment to end the hardship.

The minister spoke yesterday in Abuja at the special town hall meeting for youths held at the presidential villa.

Mohammed, according to the NewsAgency of Nigeria (NAN), said the government “is unrelenting in its efforts to ease the hardship in the land, especially youth unemployment.”

He said the hardship was “brought about by years of poor or lack of planning, profligacy, mismanagement of funds, massive corruption and lack of investment in social programmes.”

To move the nation out of the situation, he appealed for “undiluted support’’ from Nigerians.

The minister said the federal government’s massive investment in social programmes will help accelerate the process of job creation, especially for the youths.

He said the government placed premium on youth empowerment, youth development and youth engagement, hence the decision to organise the town hall meeting specifically for them.

The minister said the administration was investing massively in the social investment programmes that would benefit the youths.

He listed the programmes as the N-Power volunteer Scheme and the N-Power Job Creation Programme, among others that would provide loans for traders and artisans.

Mohammed added that the homegrown school feeding programme, the conditional cash transfers to the most vulnerable members of the society and the family homes fund, a social housing scheme, were also for youths.

He said his ministry was leveraging on the creative industry, which is youth-driven, to create jobs and unleash the huge potential of the youths.

The minister said the imminent transition from analogue to digital broadcasting would create one million jobs in three years, with most of those jobs going to the youths.

Also speaking at the town hall meeting which had seven other ministers: Mrs. Kemi Adeosun, Finance; Solomon Dalung, Youth and Sports; Babatunde Fashola, Power, Works and Housing; Chris Ngige, Labour and Employment and Aisha Abubakar, Minister of State for Trade, Industry and Investment; the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, challenged Nigerian youths to embrace farming and position themselves as the major beneficiaries of $22 billion which federal government intends to save from ban on importation of consumer goods, particularly food items in 2017.

HIS EMINENCE IS IN TOWN

L-R: Enugu State Deputy Governor, Mrs. Cecilia Ezeilo; Governor Ifeanyi Ugwuanyi; Sultan of Sokoto, Alhaji Muhammad Sa’ad Abubakar III; and Vice Chancellor, University of Nigeria Nsukka, Professor Benjamin Ozumba, during the Sultan’s visit to the university....yesterday.

Southern Kaduna Youths Attacks El-Rufai’s Convoy, Sets Chairman’s House Ablaze

John Shiklam in Kaduna

heads of security agencies were on a visit to the crisis prone Hundreds of irate youths areas to appeal for calm and to protesting the frequent attacks assure them that government and killings in Southern Kaduna was taking steps to address the communities, yesterday pelted situation. the convoy of the Kaduna State It was the fifth time the Governor, Mallam Nasir el-Rufai, governor was visiting the areas with stones. affected by the attacks.

The mob also set the residence Yesterday visit was said to have of the Caretaker Chairman of been prompted following rising Jama’a Local Government Area, tension in Kafanchan after a 24 Dr. Bege Katuka, ablaze. hour curfew was imposed by the A 24-hour curfew was imposed council chairman last Monday. on the area last Monday after The governor, however, a protest by the youths over assured the people of the area persistent killings in communities that everything was being done in the southern part of the state. to put an end to the killings.

The governor, his deputy, Speaking when he visited Barnabas Bantex, other top the Emir of Jema’a, Alhaji government officials alongside Muhammadu Isah Muhammadu,

and the Chief of Kagoro, Ufoi Bonet and Chief of Marwa, Tagwai Sambo, in their palaces, el-Rufai urged all aggrieved parties to sheath their swords and embrace peace.

He said the state government was working very hard to ensure that necessary security measures were put in place to protect lives and property and maintain law and order.

“I and the deputy governor took oath of office to protect lives and property of all citizens, and we are committed to ensuring that this is achieved,” he said.

He appealed to the people to avoid taking laws into their hands in the event of any crisis and urged traditional rulers to

talk to their subjects against taking vengeance each time there was problem between or among the persons.

The governor commended the Emir of Jema’a for taking prompt action to stop his subjects from crisis that could have erupted during Monday’s protest in Kafanchan, stating that the other government was left with no option than to impose the 24-hour in the area.

He further called on all leaders , irrespective of background or political affiliation, to support efforts aimed at ensuring peace, assuring them that proactive measures were being adopted to stop the killings and restore lasting peace in Southern Kaduna.

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

10

NEWS

ExxonMobil Workers Suspend Strike after Kachikwu’s Intervention PENGASSAN denies its members were paid N350m shut down Bonga field for maintenance Ejiofor Alike Following the intervention of the Minister of State for Petroleum, Dr. Ibe Kachikwu, senior workers of Mobil Producing Nigeria Unlimited (MPN), under the aegis of Petroleum and Senior Staff Association of Nigeria (PENGASSAN), yesterday suspended their strike started last week to protest the sack of their members, pending a review of the company’s action by a ministerial committee.

In a communiqué issued yesterday at the end of a meeting between the Minister of State for Petroleum, the labour union and management of MPN, it was also resolved that all the workers affected by the special separation programme (SSP) embarked upon by the company should remain on the company’s payroll but cannot return to work, pending the conclusion of the review of the ministerial committee.

The committee has been mandated to submit its recommendations to the minister

not later than January 10, 2017.

According to the communiqué, “The management action on the union members impacted by the involuntary separation programme is hereby suspended, pending the submission of the report by the ministerial committee and determination of the issues arising from the report of the Honourable Minister.

“It was further agreed that management is free to implement for non-represented employees and any voluntary cases already signed on to.”

The communiqué was signed by the National President of PENGASSAN, Francis Johnson; NNPC’s Chief Operating Officer, Corporate Services, Isa Inuwa; Udom Inoyo of MPN; and Falonipe Amos of the Ministry of Petroleum Resources.

PENGASSAN also clarified that the disengagement of staff should be voluntary, and not compulsory as implemented by the company.

The association also denied that some sacked senior workers received N350 million as

severance package, saying that since the claim was made by the company, the son of a staff had been kidnapped and the kidnappers were demanding for their own share of the N350 million.

On the allegation that the union ignored the intervention

by Kachikwu and went ahead with their protest, the association stated that when it was contemplating a ceasefire following the minister’s intervention, the company continued the issuance of sack letters.

In a statement issued yesterday by the branch chairman, Paul Eboigbe and secretary, Abel Nwobodo, the union acknowledged that it had supported the sack of 150 workers in December 2015, which was implemented as a voluntary programme agreed with the union in line with the Collective Bargaining Agreement (CBA).

“The union accepted it as a way forward in light of the

challenges in the oil and gas industry,” the union added.

PENGASSAN, however, alleged that over 50 expatriates were brought into the country as replacement for those Nigerians that were separated in 2015, despite the huge cost to the joint venture arrangement with NNPC. PENGASSAN argued that after the special separation programme of December 2015, most of the vacated jobs were given to expatriates and in some cases packaged as service contracts to foreign companies which had proven to be more expensive.

The union further disclosed that sometime this year, the company initiated an investigation into the activities of the marine and security departments, adding that in line with the CBA, the union participated in the process of disciplinary hearing on behalf of its members that were involved in the investigation.

PENGASSAN stated that none

of its members were indicted by the disciplinary process, but the company in a premeditated move went ahead and sacked all the people involved and replaced them with expatriates.

“The union’s fear became worse when management insisted that the SSP (special separation programme) must be involuntary against the industry practice and our previous implementations.

“The union on the other hand insisted that though they are not comfortable with the programme at this time, but if it must be implemented then it must be voluntary,” PENGASSAN added.

Shell to Shut Down Bonga Field Meanwhile, Shell Nigeria Exploration and Production Company (SNEPCo) is planning to shut down the Floating, Production, Storage and Offloading (FPSO) vessel of its 225,000 barrels per day Bonga deep water field next February for the FPSO’s routine maintenance, THISDAY’s investigations have

Shell to revealed.

The planned shut down, it was learnt, will take off a significant chunk from Nigeria’s crude oil exports, as Shell produces about 200,000 barrels per day at the Bonga field, which it operates under a Production Sharing Contract (PSC) for NNPC. Company sources informed THISDAY that the planned closure, which will last for five weeks, will be the second of the FPSO’s five-yearly mandatory turnaround maintenance.

Discovered in 1993, 120 kilometres offshore Nigeria, the Bonga field became operational in 2004, and hit first oil in November 2005.

The FPSO, with a lifespan of 20 years, was first shut down for six weeks in February 2011 for its first five-yearly maintenance programme.

When contacted by THISDAY last night, a Shell spokesman, Mr. Precious Okolobo, declined to confirm or deny the planned shut down, saying that “relevant operational updates will be duly communicated.”

But an official of the company,

Cont’d on Pg 11

Fayose Blasts Buhari, Says FG Killing Economy Victor Ogunje in Ado Ekiti The Governor of Ekiti State, Ayodele Fayose, yesterday lambasted President Muhammadu Buhari for planning to borrow a whopping sum of $30 billion to fund the 2017 budget, saying borrowing at this time would finally stifle the economy and make Nigerians to suffer the more.

The governor spoke against the backdrop of a recent confession by the federal government that 2016 budget of over N6 trillion had performed at about 40 per cent.

Fayose who spoke at the government office in Ado-Ekiti, the state capital, during the distribution of 7,000 eye-glasses to indigent Ekiti people with bad eye-sight, said: “If we borrow this much to finance 2017 bugdet, it means we will continue to borrow even till 2019, and the rate at which this government is borrowing money, I hope they will not plunge Nigeria into eternal debt, enslavement and misery. This has been the fear of many who are against borrowing of N30 billion loan.

And we will continue to borrow without attempting to concretely tackle the dwindling rate of our currency.

“What the federal government is doing is in the wrong direction.

You see, one sad thing is that once the head is right, the whole body would be right.

The federal government under President Buhari does not have what it takes to lead this country economically and beyond. They confirmed that the 2016 budget performed below about 40 per cent so that is to tell you that they

lack the vision, and don’t know what they are doing and are only deceiving Nigerians.”

Speaking about the inspiration behind the distribution of the eyeglasses, Fayose said the scheme was meant to benefit poor and visually impaired people who cannot afford eye-glasses and whose bad eye-sights had affected their performance at work or handiwork.

He said: “We have done this before and these are the benefits that can get to the common people.

The benefits is for those with impaired sight for a long time and couldn’t get solution. We have taken this to them tested them and diagnosed the recommended glasses. And today we are giving the glasses to them.

“You cannot imagine that people can wake up without a N100 in their pockets, not to talk of affording a eyeglass of N7,000.

The project is targeted at 7,000 people and is costing government about N59 million.

This project continues and we’ve already included it in next year budget.”

The eye-glasses programme was carried out by the management of the Ekiti State University Teaching Hospital (EKSUTH).

The representative of the hospital, Mrs. Teniloa Oso, who spoke about the efforts of the her team, said: “The Oju Ayo programme is a form of poverty alleviation programme directed at the poor in our communities who out of poor vision and near blindness have lost all means of survival resulting in poverty and its associated challenges.

IN THE SPIRIT OF THE SEASON...

Ogun State Commissioner for Commerce and Industry, Bimbo Ashiru; Managing Directo/CEO, First Bank Holdings Group, U K Eke; Chairman, First Bank Holdings, Mr. Oba Otudeko; and Ogun State Commissioner for Finance, Wale Osinowo, at a pre-Christmas event with FBN Group in Lagos.....yesterday

US Supports Nigeria’s Fight against Poverty with Additional $227.3m Alex Enumah in Abuja

the total provided under the agreement to $702 million.

In a statement from the The United States of America has announced the release of Public Affairs Section of the $227.3million to help fight US Mission in Abuja, the new funding would continue to help poverty in Nigeria.

The sum which was Nigeria reduce extreme poverty announced by the US Agency by stimulating inclusive economic for International Development growth, promoting a healthier, (USAID) was in addition to the more-educated population, and US developmental assistance strengthening good governance.

“Today, we are pleased to to support the five-year $2.3 billion agreement signed with announce new funding under the Nigerian Government in 2015. the agreement signed with the According to the US, the Nigerian Government in 2015 additional fund now brings to provide better access to

education and health services and promote democracy and economic growth,” the US Ambassador to Nigeria, Stuart Symington, was quoted as saying in the statement.

He added: “With the Nigerian Government’s leadership, we know this funding will significantly improve the wellbeing of Nigerians.”

The agreement, which would run through 2020, is structured by the USAID in collaboration with the Ministry of Budget and National Planning; Ministries of

Health, Agriculture, Power, and Education and their counterparts at the state-level.

In addition to development assistance funding, the US is providing humanitarian assistance to people affected by the ongoing conflict and severe food insecurity in the North-eastern part of Nigeria and throughout the Lake Chad Basin.

The US has provided more than $291 million in humanitarian assistance in the 2016 fiscal year and continues to be the single largest bilateral humanitarian donor to the region.

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

11

NEWS

Oando to Expand Midstream Operations Following $115.8m Helios Deal Nigeria’s leading indigenous energy group and the leading integrated energy solutions group in sub-Saharan Africa, Oando Plc, has completed a $115.8 million partial divestment of its midstream subsidiary, Oando Gas and Power Limited, to Glover Gas and Power B.V. (OGP), a special purpose vehicle owned by Helios Investment Partners LLP, a premier Africafocused private investment firm.

Commenting on the completion of the transaction, Oando Plc’s Group Chief Executive, Jubril Adewale Tinubu, said: “The commencement of this strategic partnership underlines

Oando’s status as the indigenous partner of choice for international firms in our industry, while also acknowledging the group’s unwavering commitment to improving access to gas and power solutions for industries, consumers and commercial counterparties in the sub-region.

This partnership will firmly leverage OGP’s local knowledge and expertise,alongside Helios’s global network and financial capabilities to optimise our existing operations and expand our footprint.”

The deal which was initially announced on September 19, 2016, will see Helios acquire 49

NEITI: Only Three States Can Fund their Budgets Chineme Okafor in Abuja With the exception of three states – Lagos, Delta and Rivers - the remaining 33 states and the Federal Capital Territory (FCT) may not be able to fund their annual budgets, the latest quarterly review on national revenue disbursements to the federal, states and local governments prepared by the Nigeria Extractive Industries Transparency Initiative (NEITI) has disclosed.

This is because of the prolonged drop in revenue accruing to the federation mainly from the oil and gas sector.

Released yesterday in Abuja, the document explained that while revenue from the country’s national earnings had dropped, and states expected to augment their shares with internally generated revenues (IGR), only Rivers, Lagos and Delta States can boast of their clear abilities to earn enough IGRs to close the expected revenue gaps and fund their budgets.

It said the federal government, states and local government areas got a total of N1.534 trillion as allocations from the Federation Account Allocation Committee (FAAC) for the months of July, August and September 2016.

According to it, a breakdown

of the allocations for the third quarter of 2016 showed that the federal government received N697.9 billion, the states got N512.66 billion, while the local government areas collected N324.31 billion.

It, however, said there was a major revenue spike in July when the three tiers of government shared N546.62 billion as against the N304.91 billion they shared in June, an increase of 79 per cent.

Considering that most states depend on FAAC to fund their annual budgets, the NEITI document observed that lower monthly disbursements would likely impact the budget implementation of most states of the federation in very negative ways.

It said: “Although the states also have revenue inflows from IGR, the report contends that, it is highly unlikely that IGR would be sufficient to offset the huge gap between expenditure and revenue in many states, with perhaps only the exception of three states - Lagos, Rivers, and Delta.

“The dwindling revenue from the petroleum sector, which has led to substantially lower disbursements from FAAC, will limit the ability of states to effectively execute their budgets,” the NEITI report explained.

EXXONMOBIL WORKERS SUSPEND STRIKE... who spoke off the record, confirmed that “a maintenance shut down is planned to commence at Bonga early 2017”.

“The FPSO was due for maintenance early this year. The exercise will involve a partial shut down, and a period of complete suspension of production at the facility,” he added.

As part of the efforts to ensure that the routine maintenance met global standards, the Department of Petroleum Resources (DPR) had hired Lloyds as a consultant to certify the first maintenance exercise carried out in 2011.

Located in Oil Prospecting Licence (OPL) 212, the 60-squarekilometre field is situated in water depths of over 1,000 metres with a production capacity of 225,000 barrels of oil per day and 150

million standard cubic feet per day of gas.

With a development cost to first oil of about $3.6 billion, Bonga’s production facilities comprise one of the world’s largest FPSO vessels and deepwater subsea infrastructure.

The field’s initial 16 subsea oil producing and water injection wells were connected to the two-million barrel storage capacity FPSO by production flowlines, risers and control umbilicals.

The use of inconel clad steel catenary risers in Bonga was the first time such infrastructure was used on any FPSO anywhere in the world.

The Bonga FPSO was built by Samsung Heavy Industries of Korea for SNEPCo.

per cent in voting rights, while injecting cash into OGP and the larger Oando group.

Co-founder and Managing Partner of Helios Investment Partners, Tope Lawani added: “The completion of this transaction underscores Helios’ commitment to investing in businesses that deliver energy access solutions to industries and consumers across the continent. We look forward to working closely with the OGP management team and other industry stakeholders to consolidate the company’s position as a premier provider of cost-effective and reliable gas and power infrastructure.”

OGP is the pioneer developer of Nigeria’s foremost natural gas distribution network and has subsequently grown to become the largest private sector gas distributor in Nigeria, delivering at peak, 70 million standard cubic feet per day (“mmscf/d”) to over 175 industrial and commercial customers via a vast network of gas infrastructure.

With over 260-kilometre pipeline infrastructure built, OGP

provides unique energy solutions in South-east and South-west Nigeria primarily through its subsidiaries: Gaslink Nigeria Limited (Gaslink), Gas Network Services Limited (GNSL), and Central Horizon Gas Company (CHGC).

In May, OGP announced the development of a revolutionary mini Liquefied Natural Gas (LNG) facility via its newlycreated Transit Gas Nigeria Limited (TGNL) subsidiary in Ajaokuta, Kogi State. This was a welcome development for the oil and gas sector, as it sees the industry improve its supply across the country, utilising cutting edge technology of mini LNG to reach areas with limited physical infrastructure.

The pioneering 20 mmscf/ day liquefaction plant would aim to fulfill the gas supply requirements for captive power plants, embedded generation, and industrial clusters in the Northern region, as well as stranded customers in Southern parts of the country.

The midstream subsidiary is also completing extension

works to its Greater Lagos gas infrastructure along the Ijora-Marina axis to provide power solutions for industrial and commercial businesses with the area.

Extensive additions are also being made to CHGC’s gas network in the Trans-Amadi area of Port Harcourt.

Amid a global downturn and pressured crude oil prices, the deal is another defining moment in Oando’s optimisation of its balance sheet and asset portfolio.

By proactively implementing a strategic direction centered on selfsustaining entities, the company is addressing its immediate objective of aggressive debt reduction while remaining a viable player in the sector.

The company recently restructured a N94 billion Medium Term Loan (MTL) facility for an additional five years while reducing its interest rate burden.

Other strategic deleveraging initiatives undertaken by the company to enhance its operational and financial positioning include the N2.8 billion farm out of its EEZ 5 and 12 blocks, and the

N3.7 billion sale of its Akute Independent Power Plant.

The new gas and power partnership with Helios is also testament to Oando’s legacy of continuous growth through audacious acquisitions and successful partnerships, most notably its landmark $1.5 billion acquisition of ConocoPhillips Nigeria in 2014, which positioned it as Nigeria’s largest indigenous crude oil producer at 55,000 boep/d. The transaction remains the first and only acquisition of an IOC operating in Nigeria by an indigenous firm.

Since 2011, Helios has made investments in the African oil and gas sector, and partnered Vitol to purchase an estimated $1 billion 40 per cent stake in the African downstream fuels business of Royal Dutch Shell.

Oando also completed a $210 million recapitalisation of its downstream business with the consortium earlier in the year, highlighting its indigenous partner of choice status, operational capacity, and renewed confidence in the Nigeria’s long term economic viability.

BUSINESS VISIT

L-R: Ecobank Team Lead, North and FCT, Robert Ahidjo; Deputy Managing Director, Ecobank Nigeria, Anthony Okpanachi; Kogi State Governor, Yahaya Bello; and Ecobank Relationship Manager, Joy Justus-Uyo, when the management of the bank paid the governor a courtesy visit in Lokoja.....weekend.

Militants Ceasefire: Bayelsa Records N3.5bn Surplus after Deductions for November Emmanuel Addeh inYenagoa The Bayelsa State Government yesterday declared N3.5 billion as balance of funds available for spending at the end of November, 2016, after all deductions for the month.

It was gathered that the rise was substantially attributable to the temporary ceasefire embarked upon by militants in the Niger Delta who started the destruction of oil and gas facilities since January this year.

But backroom discussions with the militants’ representatives and leaders of the Niger Delta by the federal government has recently resulted in a temporary armistice.

In October, like in the three previous months, the state recorded a deficit balance of N160.4 million, mainly due to the shortfall in

revenues from the Federation Account and the reduction in its production quota of crude oil.

But the state Deputy Governor, Rear Admiral Gboribiogha John Jonah (rtd), while announcing the figure during the transparency briefing for the months of October and November, 2016 in Government House, Yenagoa, noted that for five months the state’s revenues were in the negative.

While presenting the income and expenditure profile for the month of November, the deputy governor said the state received N11.6 billion as gross inflow from the Federation Account.

He noted that the amount comprises petroleum profit tax of N4.8 billion, derivation of N3.3 billion and exchange differential of N1.2 billion.

Other sources, he said, were

statutory allocation from which it got N1.1 billion, budget support N1.1, refund from Rivers State N57.5 million and value added tax of N618 million.

On FAAC deductions totalling N2.3 billion, the deputy governor said bond deduction gulped N1.2 billion, restructured commercial bank loan N741 million, commercial agricultural credit schemes one and two N162.3 million and foreign loans N28.76 million.

According to him, the salary bailout to the state was N16.3 million while Excess Crude Account loan was N126. 67 million, bringing the net inflow to N9.3 billion.

Jonah revealed that the state got N608.9 million as internally generate revenue for the month of October, 2016 in addition to refunds from the bond loan of N4.75 billion following its restructuring.

He added that the state also received refunds from local governments totalling N97.67 million, which increased the amount available for spending to N14.7 billion.

On expenditure, Jonah announced a total outflow of N11.69 billion which included bank loan repayment of N2.8 billion, recurrent payments of N3.8 billion, capital expenditure amounting to N6.4 billion, Cot provision of N59 million and payment for IGR collection of N48.5 million.

In his remarks, the Commissioner for Information and Orientation, Hon. Jonathan Obuebite, noted that the transparency and accountability posture of the Seriake Dickson-led administration has remained a major policy thrust of the government since its inception in 2012.

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WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

NEWS

N’Delta Ministry Has Liabilities of N34bn, Says N1tn Needed for Uncompleted Projects Ndubuisi Francis in Abuja The Ministry of Niger Delta Affairs yesterday disclosed that it had an outstanding liability of N34 billion, mostly owed to contractors as at 2015.

The Minister of Niger Delta Affairs, Pastor Usani Uguru Usani, who disclosed this at a press briefing in Abuja, also stated that between N800 billion and N1 trillion

was required to deliver uncompleted projécts dotting nine states in the region.

Usani frowned on the over N400 billion said to have been expended on projects in the region with 12 per cent completion, saying it was unacceptable.

A technical audit committee set up by the minister, which turned in its report recently, stated that a

Crude Oil Theft: Okowa Promises to Support Security Agencies Delta State Governor, Dr Ifeanyi Okowa, has assured security agencies of government’s support in tackling criminality and pipeline vandalism.

The governor who spoke yesterday when he received on courtesy visit, the Commander, Joint Task Force (JTF) Operation Delta Safe, Rear Admiral Opoche Suleiman, and his team in Asaba, said crude oil theft and pipeline vandalism affect first the economy and environment of the surrounding communities and the federal and state government negatively .

“Since the inception of your Operation Safe, a lot of work have been done, in Delta State we have worked with your sector commander and other security agencies to keep the peace and make the state safe. I want to assure you of the state government support to carry out your activities in the Niger Delta region,” he said, The governor stressed that the partnership and synergy among security agencies in the state have yielded desired result in the maintenance of peace and security.

“We need to check crude oil theft and vandalism as the activities of vandals first impact negatively on the environment, economy and health of the surrounding communities, it also impact negatively on the resources of the federal and state government and power generation in the country. This in turn set up a chain of events as that impact on our industries and of course youth employment,” the governor added While calling for constant consultation between government and the Operation Delta Safe outfit, the governor called for the harnessing of the civilian population in the Niger Delta region in information gathering.

Earlier, Rear Admiral Suleiman said they were in Asaba to consult with the governor and seek for support for the achievement of the mandate of the Operation Delta Safe Outfit.

He stated that “in achieving peace the Operation Delta Safe require the political support in the protection of the oil and gas infrastructure and prevent other criminality in the region.”

Ghana’s President-elect, Akufo-Addo Visits Buhari, Promises to Strengthen Ghana-Nigeria Relationship Tobi Soniyi in Abuja The President-elect of Ghana Nana Akufo –Addo, yesterday met with President Muhammadu Buhari behind closed-doors at the Presidential Villa, Abuja.

Speaking to State House Correspondents shortly before departing the Villa, Akufo-Addo said himself and Buhari were determined to grow the existing relationship between the two countries.

He said they discussed modalities to strengthen the existing bilateral and economic ties between Nigeria and Ghana.

He said: “We had a very good exchange. We are determined to grow the relationship between our two countries.”

Akufo-Addo won Ghana‘s presidential election held on December 10.

He said: “I came on a private visit to Lagos on Sunday to participate in the Future of Africa

Awards and I thought it is proper that I take that opportunity to come to Abuja to pay my respect to the president. His birthday is an important day in my life because that day is my late mother’s birthday.

“I have been elected but I have not taken the oath of office. That will be taking place on January 7.

“But in the meantime, I have come to introduce myself to President Buhari so that we begin to know each other.

“The relationship between our two countries is so important for our countries, West Africa and Africa. I think those of us who are in positions of leadership need to know each other and have an understanding and address the main concerns of our populations.

“I had the opportunity to say a belated happy birthday to the President. His birthday is an important day in my life because that day is my late mother’s birthday,” Akufo-Addo noted.”

total of N700,538,741691.30 was budgeted for the ministry between 2009 and 2015 with 60 per cent disbursement.

According to the committee headed by Yerima Bulama, a cumulative sum of N446,421,385,864.41 was certified for payment but N423,172,256,347.84 was paid, leaving an outstanding of N32,111,887,779.32.

In other words, between 2009 and 2015, about 60 per cent of 425 projects awarded were paid for.

Responding to a question on what was required to deliver uncompleted projects in the region, Usani said it was difficult to bandy an accurate figure due to variations in a number of factors, but noted that between N800 billion and N1 trillion could be considered enough to complete the projects.

Usani stated that since his emergence as minister on November 11, 2015, he

and his team, in the face of are billed to be trained on ICT. daunting challenges, had On the flagship projejec-worked tirelessly to refocus East-West Road, Usani said the ministry with a view to the contractors have been giving people of the region a mobilised to site on Section better deal.

1 (Warri-Kaima) to the tune He listed such challenges of N4 billion, appealing on as social, a large number them to remain on site. of litigations, the prevailing Section 5, he said, was yet economic situation, security, to commence due to a faulty as well as issues of capacity technical design which was and organisation within the uncovered, culminating in the ministry, among others. suspension of resumption of But within the limits of the work. available resources, the minister The minister said correcting said quite a lot had been done the defect before proceeding in the area of empowerment, with that section was a must listing some of them as the because not doing so was training of 130 youth and replete with grave implications women in Israel on agriculture which could negate the entire with N1 million given to them project. for start-up.

On what it would cost He also disclosed that to complete the entire road another 224 women and youths project, the minister disclosed were trained on agriculture that Section alone would value chain and were also require about N70 billion supported with funds while while other sections will dome other youths were require about N200 billion trained on GSM repairs and to complete maintenance just as 150 others He noted that efforts were

being made to complete the skills acquisition centres and housing projects, noting that although budgetary provisions were not enough due to the nation’s economic challenges other funding options were being explored.

The minister disclosed that the Niger Delta Action Plan and other intervention programmes for the region would be vigorously implemented.

He also said an effective synergy was being worked out with the Niger Delta Development Commission (NDDC), which is now being supervised by his ministry to avoid projects overlap and duplication.

Usani warned to contractors who have been paid but had not completed their projects to move to site or risk being dragged to the anti-graft Economic and Financial Crimes Commission (EFCC).

CHRISTMAS IN THE AIR

L-R: Renowned Juju musician, King Sunny Ade; Globacom’s Commercial Coordinator, Enterprise Business Group, Mr. Folu Aderibigbe; Regional Chief Marketing Officer, Globacom, Mr. Ashok Israni; Regional Director, Marketing Communications, Globacom, Mr. Charles Jenarius; and President of Ghana, Mr. John Dramani Mahama, at the 2016 Ovation Green Carol sponsored by Globacom in Lagos.... recently

APC Chieftain, Halima Alfa Calls for Patience and Understanding in National Affairs A former Commissioner for Commerce and Industry in Kogi State and former member of the Subsidy Re-investment and Empowerment Programme ( SURE-P), Halima Alfa, has commended President Muhammadu Buhari for his purposeful leadership which she said is beginning to engender the much needed sanity and accountability in the polity, albeit, amidst myriad of challenges.

The Kogi-born chieftain of the All Progressives Congress (APC) and socialite who described President Buhari as a pragmatic leader whose values and vision for the country transcends the evolving times of today, said the president’s integrity and selfless disposition to the business of governance has not only

endeared him to the well–meaning populace but restored dignity to the Nigerian nation.

“His steadfast commitment to combating corruption and the restoration of peace and security has, indeed, gained the respect of the world,” she said.

Alfa pointed out that though the economic environment continues to be challenging, it is not a problem peculiar to Nigeria since people know that economic problem is a function of several variables that have suffered downward trends seeing the unprecedented political will and sincerity of purpose on the part of the federal government in ensuring a better quality of life for Nigerians.

“We must note that these challenges are temporary. It is

therefore a bounden duty of patriotism for all Nigerians to reciprocate the good gestures of government by showing understanding, support and patience with the methodical approach towards a lasting solution. These problems did not come up in a day so the kind of sustainable solutions that we want cannot be expected to happen in a day,” she said.

She also reflected on the political development in her home state, Kogi, which she said faces an evolving and challenging times.

She remarked that the state is pathetically backward in development but expressed optimism about the ability of the young Governor, Yahaya Bello, to make history with the passage of time.

“All he needs is our collective understanding, support and guidance.”

While wishing Nigerians a happy, peaceful yuletide, Alfa in her characteristic strength of faith and confidence, stated that the APC manifesto is essentially welfarist and that future, beginning 2017 is assured under PMB. “There sure is a silver lining in the tunnel,” she said.

She called for more involvement of the Igala people who almost in their entirety voted the APC during the last presidential election, and today without a representation in the federal government.

“It is a know fact that Ankpa Local Government where I come from was the second highest after Daura that voted PMB.”

T H I S D AY WEDNESDAY DECEMBER 21, 2016

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T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

COMMENT

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

TELL THEM IT’S CHRISTMAS

“

Christmas offers us the opportunity to imitate the simple life of Jesus Christ, writes Sonnie Ekwowusi

Send victory like a dew, you heavens, and let the clouds rain it down. Let the earth be opened and bring forth salvation….” In this poetic strain, Prophet Isaiah gleefully proclaims the overflowing expectancy of the birth of Jesus Christ, the Redeemer of mankind. Like Prophet Isaiah, we all long for Christmas. In four days, precisely on Sunday, it will be Christmas. On that day Isaiah’s proclamation will once again come to fruition. Jesus Christ will take flesh in the womb of the Blessed Virgin Mary and will be born among us.

The first Christmas took place in Bethlehem more than 2,000 years ago. Prior to the first Christmas, the expectation was high in Jewish times that a Messiah King would come to save the people. Kings after kings, prophets after prophets, rulers after rulers later came, wielded power and authority. Some even conquered and acted like messiahs. But none could satisfy the deep yearning of the human heart for true liberation and redemption. But at the appointed time what poet William Butler Yeats dubbed as the “uncontrollable mystery on the bestial floor” took place at a relatively obscure town of Bethlehem. Contrary to human wisdom and human expectation, Jesus Christ took flesh in the womb of Virgin Mary and came to be born among us. As St. Josemaria Escriva aptly puts it: “when the fullness of time came, no philosophical genius, no Plato or Socrates appears to fulfill the mission of redemption. Nor does a powerful conqueror, another Alexander, take over the earth. Instead a child is born in Bethlehem”.

That is the mystery we shall be celebrating on Sunday: God condescending Himself to become man in order to live among us.

Therefore as we joyfully celebrate Christmas, let us resolve to imitate the humble life of Jesus Christ who came to serve and not to be served. Christmastime is not a time to revel in orgy of self-deification, capricious expenditure, militant consumerism and free-wheeling hedonism. At Christmas, we are invited to bring light to the dark land, hope to the hopeless, justice to the oppressed and integrity to the wasteland. But unfortunately the meaning of Christmas has been lost in many parts of the world in the waffle of militant consumerism and secularisation. Christopher Dawson once said that if the mainstream media had been there in Jerusalem, Rome and Athens at the time of the birth of Jesus it would not have reported the great event. Today in many parts of Europe and America, Christmas has become a “winter festival,” or a “public holiday” when holiday makers go to the beaches to have a nice time. Many celebrants may be chanting away the Christmas carols; “Dreaming of a White Christmas”, “Adeste fideles” and “Silent Night” but their hearts are far from understanding that Jesus is the reason for Christmas. In Nigeria, it appears that many vices are waiting for Christmas to start rearing their ugly heads. As Christmas approaches, the commercial bus driver drives recklessly; the trader swindles the hapless customers; the worker embezzles his employer’s money; the armed robber lays siege to the country highways to rob Christmas travellers of their belongings; the Okada cyclist cruises at prohibitive

I

speed just to celebrate Christmas. As we speak, the Police have mounted many illegal roadblocks along the dreadful Benin-Ore Expressway and Onitsha-Enugu Expressway in order to extort money from Christmas travellers. Many passengers are stranded at the moment at the country’s airports. The airlines are over-booking and over-selling their tickets even though they know that they do not have enough airplanes to fly the multitude of passengers purchasing their tickets. Many sick people will be celebrating this Christmas on their sick beds.

Despite the above calamities and hardships, Christmastime is a season of joy. It is a time to regain our laughter and sense of humour. Everything may be collapsing. Life itself may be very cruel, but we cannot lose our optimism and peace. With our laughter we can challenge the sad world to look at us and be hopeful. Christmas underlines the importance of the family as a fundamental unit of the society. The family plays a vital role in the upbringing of a person. Jesus was born into a family of Joseph and Mary. Everything in the Holy family of Jesus, Joseph and Mary bespeak the family values of concern, service, dedication and altruism. All the things that shape the life of an adult are what he/ she learned from his family or from his parents in childhood. Small wonder the family has been dubbed as “the shaper of values”. The values, which the family institution imparts to the child eventually forms the superstructure around which the child’s future behaviour will revolve. And for us in Africa and Nigeria, the family, viewed from historical and cultural context, essentially doubles as the provider of those “social safety-nets” which a person needs to grow up to become responsible member of the society.

AT CHRISTMAS WE ARE INVITED TO BRING LIGHT TO THE DARK LAND, HOPE TO THE HOPELESS, JUSTICE TO THE OPPRESSED, AND INTEGRITY TO THE WASTELAND

CHRISTMAS VACATION This column signs off today for Christmas vacation, to return, God willing, in January 2017. Thank you for your company in the year 2016. Let me tell you something that you may find interesting.

We need a new humanism in Nigeria. We must learn to see our neigbours as human beings not just mere instruments to be used to satisfy our selfish interests. The self-sacrificing service of Mary and Joseph at Christmas is a spur to us to be less self-centered and attend to the needs of our fellow men. Human development is the epicentre of all developments. The development of the human person must be made to occupy a central place in our developmental efforts otherwise we cannot grow as a nation. The citizen is the wealth of a nation, not oil. That is why the alleviation of spiritual and material poverty is a goal which challenges us in Nigeria at the moment. We must tackle the appalling human misery and deterioration in Nigeria. If Nigerian citizens lack access to drinkable water; if they lack electricity supply or if they are denied access to primary health, then the government is very far from satisfying their basic needs.

Wishing you and your family a Merry Christmas.

RAUFNOMICS A ND THE CHALLENGE OF DEVELOPMENT Abiodun Komolafe argues that the Osun State Governor has a sense of direction

n a paper presented at a colloquium to mark his six years in office as governor of the State of Osun, Rauf Aregbesola reiterated his administration’s commitment to laying a solid foundation for the state in every area such that tampering with its progress in the future would be difficult, if not impossible. While describing “rising expenditure, especially wage bill, within the contrast of falling revenue” as the biggest challenge facing his government, Aregbesola promised that his administration would do all within its powers to ensure that no one was left behind in the distribution of the dividends of democracy to the good people of Osun. “We are grappling with the challenge of finance and we are doing all within our power to complete all the projects we started. We are not going to leave any project uncompleted”, the governor stated.

Democracy hath no fury than a people abandoned! So, what is Raufnomics? In my considered opinion, the promoter has given a clue: it is about “getting as much from little and using the resources of the state to maximally benefit the people”. It is about “strategic planning and intervention in society; making governance mass-based and people-centric”; and “guaranteeing the maximum good for the maximum number of people.” With a special reference to Osun, Raufnomics has proved to be a popular solution to the state’s socio-economic problems created as a result of years of Nigeria’s sole dependence on proceeds from crude oil. It has helped sustain the state even as it continues to encourage innovative interventions within the framework of the administration’s Six- Point Integral Action Plan in such a way as to help put the economy of the state back on track.

In addition to some of this administration’s laudable achievements which have already been captured in Aregbesola’s speech at the event,

the establishment of Osun Job Centre, designed principally to serve as an interface between job seekers and employers of labour; the procurement of no fewer than 125 Patrol Vans, 20 Armoured Personnel Carriers (APC) and one helicopter which has helped in drastically reducing incidences of crime in the state; and the creation and successful take-off of 61 Local Council Development Areas (LCDAs), three Area Offices and two Administrative Offices from the former 31 Local Government Areas are also some of the ways this government has positively affected the rule of the game.

A strong advocate of regional integration, he was a major force in the establishment of the Development Agenda for Western Nigeria (DAWN) Commission, an institutional and programmed body saddled with the responsibility of midwifing the regional integration agenda of the Southwest states. And, with the creation of Osun Education Quality Assurance and Morality Enforcement Agency, I doubt if any misguided pupil or student will ever attempt to task the tolerance of the good people of Osun or insult their collective intelligence again.

Aregbesola’s approval of the immediate commencement of a unified Public Service in the state is worth mentioning here. Apart from repositioning “the State Public Service for efficient and effective service delivery at all levels of governance”, the step is also aimed at removing “all restrictions to seamless movement of personnel from one spectrum of the Public Service to the other”. Needless to repeat that it is in a bid to ensure transparency in the state’s financial dealings that this man of splendor and all-encompassing charisma recently inaugurated the Hassan Sunmonu-led committee on allocation of revenues to “oversee allocation of state’s revenue to prompt payment of salaries as well as adequate running of government.”

The price of fame, it is often said, goes beyond brooding or bargaining around the frustration of some mischievous parallelisms! But when will Nigeria’s vine overcome the antics of her “foxes, the little foxes” and who will raise the hands of her Moses as an assurance of permanent victory? Coming closer home, if we have an avatar at the helm of affairs in Osun, how come the state is such in dire straits that it now seems as if delayed salaries have come to stay with us? Assuming without conceding that we are in this pass because of the level of our debt and its management, as a result of which our dear state has allegedly become slave to Irrevocable Payment Standing Orders (IPSOs) and other debt recovery instruments, how do we situate the fate of richer and resource-endowed states like Ondo and Bayelsa which are also behind schedule in terms of salary obligations to their workers?

Well, the tragedy of our Nigerianness is that we deceive ourselves a lot and that has been our greatest undoing! Here, we play politics like an interest-driven game, unrepentantly notorious for its art of the impossible and personal manipulations.

That is why, despite efforts by this dogged fighter at positively impacting lives through his “numerous programmes, policies and schemes”, there still exists some unrefined, less-informed detractors who derisively “consider it fit and proper to constitute themselves into an opposition of the government of the day, however well-meaning and goodintentioned.” Because of the way they are fated, they always allow their personal and selfish desire for certain specialities to run wild thereby straying away from unprejudiced realities. They lust for what they do not have and that which is of no use to them and, despite the fact that they do not get that which they do not have and that which they neither need nor deserve, they delude themselves with it to spoil that which they are supposed to

have but unfortunately they do not have.

In their world, there is neither economic focus nor political direction that is practically aimed at alleviating the people’s poverty and pains. Instead, they revel in the virulence of insouciant leaders and the proliferation of unprincipled politicians.

For no just cause, these individualists and spoilers culpably hate leaders for doing good, categorise a government which “runs a most transparent allocation of scarce resources to tackle underdevelopment” as ‘reckless’; and tag one which strives to confront “problems engendered by socio-political transformation” as ‘insensitive’! Since they are experts at spreading beliefs that reject persuasion, they tar every developmental stride with the mark of corruption. In their myopic view, Opon Imo is a scam; O-YES, money-sapping; O-MEALS, unnecessary; and policies and programmes aimed at shoring up the state’s revenue generation capacity are ‘too draconian and unfriendly’.

In any case, “minds differ as rivers differ”, says Baron Thomas Macaulay. While some might liken Aregbesola to a “controversial politician who doesn’t listen to advice, however novel or useful”, to others, he’s one astute administrator who would not “want to enrich himself at the expense of the poor masses”. While some might unfairly consider his style of governance as one “built only on propaganda”, others see it - and, rightly, too - as “a source of hope in the face of the weak and bleak future that the Yoruba race and Nigeria face.” In all of these however; and political persuasions notwithstanding, what critics of Raufnomics cannot deny is Aregbesola’s gentleness, straightforwardness and uncanny sense of direction which he has dispassionately deployed in transforming the state into an emerging market with a lot of potential.

Komolafe wrote from Ijebu-Jesa, Osun State

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T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

EDITORIAL THE COST OF NIGER DELTA CRISIS

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President Buhari could do more to restore peace in the Niger Delta

he cost of the crisis in Niger Delta on the economy is steep and rising. Just recently, Mr. Shina Bankole, the vicechairman of the security subcommittee of the Oil Producers Trade Section of the Lagos Chamber of Commerce and Industry, said that between January and November this year, the resurgence of militancy has cost the nation over 130 million barrels of oil (approximately $4 billion) even at the base price of $30 per barrel. During the period, some 58 incidents of sabotage on the facilities of the oil companies were also recorded.

Bankole, who is in charge of security at Chevron Nigeria Ltd, said there is now a proliferation of small arms and weapons as well as a dramatic increase in the number of militant groups in the Niger Delta. “As of today, no fewer than 32 of such groups have emerged– some with possible ethnic agenda, while others came with a criminal agenda,” he said. The danger is that the proliferation of arms could tip the region and indeed the country into a new bout of violence.

Ever since the TO THE EXTENT THAT THE current administration PROBLEM OF NIGER DELTA came to power in May IS NOT ONLY THAT OF 2015, the country has LAW AND ORDER, FORCE been experiencing CANNOT BE THE ONLY increased militancy SOLUTION in the Niger Delta region with attacks on crude oil, products and gas pipelines. For instance, in the month of July alone, the Nigerian Petroleum Development Company (NPDC) lost a substantial portion of crude oil estimated to be in excess of N27 billion to pipeline vandalism. A total of 3,213 vandalised points were recorded between August 2015 and July 2016.

Perhaps one of the unkindest cut had to do with the 48-inch Trans-Forcados pipeline in the Escravos, the major pipeline that transports crude oil produced by Shell Petroleum Development Company (SDPC) and others in the Western Niger Delta to the export terminal. The oil

Letters to the Editor

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giant had been forced severally to declare “force majeure” with hundreds of thousands of barrels lost to pipeline vandals and thieves.

Indeed, Vice-President Yemi Osinbajo hinted on the enormity of the problem recently when he blamed the country’s economic challenges partly on the effects of pipeline vandalism. “One of the key reasons why we are in recession is the fact that we lost about 60 per cent of our revenue due to the vandalism of the pipelines in the Niger Delta and we lost almost 40 per cent of the gas,” he said.

U T H I S DAY

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

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nfortunately, there are other ruinous and devastating costs. Millions of barrels of oil had been and are still being spilled into the environment through pipelines’ vandalism, polluting the waters and the entire ecosystem of the region. The cost budgeted for the Ogoni clean-up is a reminder of the complexity of the problem. Besides, the disruptions of pipelines also affect electricity supply as power stations are most often shut down due to lack of gas. Yet oil and gas constitutes the mainstay of Nigeria’s economy, contributing about 90 per cent of the nation’s foreign exchange earnings and about 25 per cent of the Gross Domestic Products.

Therefore, we believe President Muhammadu Buhari and his administration can do more in the efforts to restore peace to the Niger Delta. “In the last couple of weeks, the Ministry of Petroleum has launched the seven Big Wins,” said Dr. Ibe Kachikwu, Minister of State for Petroleum, recently. “The first of the Big Wins is getting the Niger Delta stabilised through engagement, empowerment and enforcement. The other aspect of the Big Wins is righting the wrongs through remediation and education.”

To the extent that the problem of Niger Delta is not only that of law and order, force cannot be the only solution. Until Nigeria is able to engage the people and restore a measure of peace to the Niger Delta, the economy will continue to totter between paralysis and meltdown.

TO OUR READERS Letters in response to specific publications in THISDAY should be brief (150-200 words) and straight to the point. Interested readers may send such letters along with their contact details to opinion@thisdaylive.com. We also welcome comments and opinions on topical local, national and international issues provided they are well-written and should also not be longer than (9501000 words). They should be sent to opinion@thisdaylive.com along with the email address and phone numbers of the writer.

WHY JAMMEH MUST BOW OUT

e understand that The Gambia’s security forces have taken over the headquarters of the country’s electoral commission to affirm President Jammeh’s refusal to accept his loss in recent elections after 22 years in power. He had initially conceded defeat to Mr. Adama Barrow who obtained 222,708 votes (43.3 per cent) compared with his 208,487,487 (39.6 per cent).

The Gambian President changed his mind after questioning the validity of the count when the electoral commission changed some results even though it insists the outcome of the election was not affected.

Jammeh seized the electoral commission’s headquarters even after visiting West African leaders including President Muhammadu Buhari met him and tried to persuade him to step down for the new president-elect. The head of the regional bloc, ECOWAS, Marcel de Souza, sees the warhead hovering over The Gambia if Jammeh does not accept defeat now when he said “we would not rule out sending in troops. We have done it in the past,” he told Radio France International. “We currently have troops in Guinea-Bissau with ECOMib mission. We have had troops in Mali. And therefore it is a possible solution”.

The Gambian president must quickly hand over power and save Gambia from a looming civil war that would further plunge hundreds and thousands of his country men and women seeking refugees’ ships on the Mediterranean

route to Europe. It is unthinkable for this to happen now that thousands of refugees are fleeing from civil war and terror from the Middle East to Europe. The truth is that it has become increasingly difficult for Africans seeking refuge abroad to get asylum in Europe. The chilling danger for Africans trying to cross the Mediterranean Sea to Europe show-cased itself in June 2016 when 458 corpses of mostly African migrants and refugees including women and children from Jammeh’s Gambia were discovered on a boat that sank in the sea. According to a new report from the International Organisation for Migration (IOM), corpses of over 30 migrants were found in the desert in Niger in June 2016.

The point is that no peace-loving African president today would force his already economically desperate citizens to risk their lives on treacherous routes to Europe as migrants and refugees. Jammeh should spare Gambians who have over the years been migrating out of Gambia from his repression further agony by letting peace and democracy reign in his country and handing over to Barrow. Only recently a Tunisian man was found guilty by a court in Sicily of causing the sinking of a 278 long (90ft) boat in which 700 migrants died in April 2015. Many of the victims had been crammed into the hold of the fishing boat and locked inside.

And there were from four African countries including The Gambia.

The EU member nations faced with the most significant

influx of migrants and refugees in his history is systematically resisting the flood despite the fact that they have a moral responsibility to help people fleeing murderous regimes. This demands from them to make a distinction between refugees and economic migrants. In September this year the EU ministers approved a controversial plan to relocate 120,000 migrants across the continent over the next few years with binding quotas. But Romania, the Czech Republic, Slovakia and Hungary opposed the scheme.

The EU has been unable to harmonise its asylum policy as about 28-member state, each out of self preservation has its own police force and judiciary. The European states are at present competing to be the least attractive to migrants.

There is as at now no safe and legal way for refugees to reach European countries. In a situation where the EU Countries are not willing to enforce the rules and obligations they agreed on, there is little hope for migrants and refugees to Europe.

The truth is that the refugee crisis in Europe is stretching economic resources, radicalising politics and straining the post world war institutions created to keep Europe at peace and united. This is the reality of the world today and Jammeh owes Gambians a legacy of peace and democracy, to preserve their dignity as men and women of honour and self respect. Not as migrants and refugees fleeing from war and starvation which his present course would bring.

Godfrey Yerimah, Ogba, Lagos

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T H I S D AY WEDNESDAY DECEMBER 21, 2016

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MIDWEEKPOLITICS

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

THE NEWSMAKER

This Minister is Totally ‘Spended’ A total misfit, no one person depicts the failure and incompetence of the Muhammadu Buhari administration than the current Minister of Youth and Sports Development, Mr. Solomon Dalung. Shola Oyeyipo writes

A

t a news conference, sometime ago, an obviously absentminded Minister of Youth and Sports Development, Mr. Solomon Dalung had erroneously referred to Nigeria as the “United States of Nigeria”. Whatever has preoccupied his mind at that point in time, every attempt to gloss over that Freudian slip was as dumb as the mistake itself. Not a few dwelt for too long on it and perhaps, Dalung didn’t think it was such a big deal. That fizzled out soon after it was dropped.

If you thought, however, that such a slip could be condoned, what with this trending “spended” jargon he just landed on the English lexicon? At his budget defence before the House of Representatives committee, Dalung, while justifying the reason the lawmakers should approve his 2017 budget, tried to explain away how he spent the 2016 vote.

And in a convincing fit, especially when he was faced with the charge of spending beyond the approved limit in 2016, an action considered a grave offence, the minister told the gathering that “The funds spended were properly spended because we got them from intervention funds from Mr. President.”

Whatever Dalung was thinking at that material time, it was certainly to no good but a clear manifestation of his crass incompetence, which accounts for why the ministry is the way it is and why indeed, the ministry may not move forward under him.

Across the world, not only has sports proven to be one factor that unites Nigerians and people generally, it is also a way to annex youth potential and curb their habitual restiveness .

But it is becoming obvious that Dalung is not adequately equipped with such tact required to move the ministry forward.

With his incessant incautious utterances, actions and inaction, Dalung has put his incompetence in the public domain and has been getting equal dose of attacks for his apparent naivety.

In one of its publications, a reputable national daily wrote; “Dalung has become anti-Sports Minister”. The same newspaper went further to state that “Dalung is not fit to be Sports Minister” and so many others have called for his sack outright and replaced with someone with requisite knowledge, experience and capacity in sports management.

When politicians are faced with criticism, they conveniently attribute it to the opposition that want them out of office. But in Dalung’s case, he personally unable to evaluate that he is handling a sensitive ministry that Nigerians are quite passionate about.

If he was that thoughtful, he would not have been expected to make such an uncouth statement like Nigeria should not have any business campaigning to qualify for the 2018 FIFA World Cup. Apparently, he did not know what to say during an interview on the Hausa service of the Voice of America (VOA,) when he contended that since Nigeria is not favoured to win the World Cup, public funds should not be ‘wasted’ on the championship.

It is also unclear whatever he intended to achieve by pinpointing that the process of hosting and winning the world cup was riddled with corruption but that is surely not the aspect that football loving fans are looking out for. Rather, it is pomp, celebration, glamour, tacts and the fun coming with the four-yearly event that attracts over 3bn viewers from all over the world.

Those were carelessly un-evaluated statements that have put Dalung on the wrong side with millions of Nigerian sports lovers because being

Dalung...a poor representative of change

part of the World Cup is a national pride in itself and it easily resonates the name of the country in global sports and politics. It is a big pride for citizens when their countries participate in such national competitions.

It was equally unacceptable to many young

Since he was appointed by President Muhammadu Buhari in October 2015, Dalung, rather than getting acquainted with his new office, has been more of a revolutionary and activist leader. Watchers of the nation’s sports sector are resolute that the minister is a tragedy because of his perceived lack of understanding of the critical sector and the temperament needed to relate with youths and sports-related issues

Nigerian sports men and women, who consider international tournaments such as the World Cup, Olympics and others as a way to sell themselves to the global market.

It was due to similar unfavourable attitude to sports that the immediate past administration of Dr. Goodluck Ebele Jonathan, was seriously embarrassed when Team Nigeria returned from the 2012 Olympics in London empty handed because of poor preparation. Then countries not as blessed as Nigeria in sport talents were on the medals table.

Dalung got pounding knocks from commentators, who were unable to rationalise his comments considering that Nigeria’s chances of qualifying for the World Cup is now even brighter. The national team already secured the six maximum points from two qualifier matches.

Since he was appointed by President Muhammadu Buhari in October 2015, Dalung, rather than getting acquainted with his new office, has been more of a revolutionary and activist leader. Watchers of the nation’s sports sector are resolute that the minister is a tragedy because of his perceived lack of understanding of the critical sector and the temperament needed to relate with youths and sports-related issues.

Before his commentary on the World Cup, Dalung’s incompetence in the handling of the sports ministry began to manifest crystal clearly when he was unable to get various sporting bodies to properly prepare for the Rio Olympics.

Some of the reasons for which President Buhari could replace Dalung with a better hand include that knowing full well the Nigerian Football Federation (NFF) is crisis-ridden, he was seen to have fueled that crisis by calling a peace meeting that turned out to be a battle field for the NFF President, Amaju Pinnick and Chris Giwa, who almost engaged each other in fistycuffs over leadership to the same office. The comical denials and counter-denials that characterised the recruitment of foreign coach for the Super Eagle were another issue altogether.

‘Nigerians and the international community were told that Nigeria had engaged the services of Paul Le Guen to manage the Super Eagles but swiftly, the news was discarded. The minister claimed he wasn’t aware about NFF’s decision and the NFF maintained that the minister was aware and insisted that his denial was a shock.

That was yet another national embarrassment.

The totality of the way and manner Dalung has been managing the ministry, particularly the wrong information he once gave the public that the failure to account for money is the reason for the federal government’s refusal to provide funds for the country’s preparation for the 2016 Rio Olympics was another factor to ponder.

Contrary to his position, President Buhari, in May last year approved the budget brought to him by the defunct National Sports Commission CONTINUED ON PAGE 19

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ONTHEWATCH

Ilori: Ondo’s New Kid on the Block

With his strategic role in the recent Ondo State governorship election, the Director-General, Olusola Oke Campaign Organisation, Mr. Bola Ilori, is an emerging face to watch, writes Shola Oyeyipo

T

here were so many lessons learnt from the just concluded governorship election in Ondo State won by the All Progressives Congress (APC) candidate, Mr. Rotimi Akeredolu (SAN) but of particular interest is how the Alliance for Democracy (AD) resonated and made significant show in the hotly contested election.

There is no doubting that the election was both competitive and tension-soaked, especially as the processes that threw up Akeredolu and the eventual Peoples Democratic Party (PDP) candidate, Mr. Eyitayo Jegede were characterised by crisis.

But as the fallout of alleged irregularities in the APC governorship primary, one of the APC aspirants, who is also considered a remarkable grassroots politician, Mr. Olusola Oke opted out and pitched tent with the Alliance for Democracy (AD) on which platform he contested.

For many reasons, including the fact that he left the APC, the rumoured support for his candidacy on the AD platform by the APC national leader, Senator Bola Tinubu and his reassurances to the people that he would win the election, Oke quickly won the attention of watchers of the keenly contested election.

Though at the end, APC’s Akeredolu scored 244,842 votes to defeat PDP’s Jegede, who polled scored 150,380 while AD’s Oke garnered 126,889 votes to come third. But the latter made resounding impacts in the buildup to the election.

First, his pre-election campaigns easily became a spectacle due to the mammoth crowd that attended each of them and that was closely linked to the political wizardry of his campaign manager, Hon. Bola Ilori, who won the admiration of many as a great mobiliser and remarkable political tactician.

So massive were the crowds trailing Oke’s campaign that the APC in Ondo State accused Oke of “importing” supporters from Lagos and Osun States for his kick-off campaign held at the Democracy Park, Akure, the Ondo State capital. The APC alleged that this was to give an impression that he was a popular candidate in the state because to them, the AD was unpopular in the state.

That Oke eventually polled 126, 889 votes did only attested to his popularity, also confirmed Ilori’s dexterity in managing his statewide marketing, which won him accolades as the new kid on the block – someone to watch out for in the foreseeable future.

Ilori, one of Tinubu’s political proteges, was the executive Secretary of old Alimosho local government. He later became the Special Assistant to former Lagos State Governor, Babatunde Fashola, on Environmental Matters, before he was appointed Special Adviser to the Osun State Governor, Mr. Rauf Aregbesola, also on Environment and Sanitation. He has managed the environment ministry in three of the six states in South-west Nigeria.

After Oke defected to the AD, the Ondo State chapter of the party named Ilori the

That Oke eventually polled 126, 889 votes did only attested to his popularity, also confirmed Ilori’s dexterity in managing his statewide marketing, which won him accolades as the new kid on the block – someone to watch out for in the foreseeable future

Ilori...up to something promising

Director-General of the Olusola Oke/Ganny Dauda Governorship Campaign Organisation.

And iIn the buildup to the election, Ilori was the only APC member with viable structure but was not contesting. He hails from Ondo Central and people considered Oke’s choice of Ilori as politically wise.

With his job as the DG of the Oke campaign group, the well-known Tinubu loyalist was to drive the AD efforts to win the November 26 governorship election in the state.

In fact, the insinuation that Tinubu was behind Oke was simply buttressed by Ilori’s role in the election, particularly when during an interview on a national television, he said he and some other APC members joined the APC on Tinubu’s directive.

“I don’t know APC before, it was Asiwaju Bola Tinubu that said we should move to APC and we did. He has said AD is the option now; even If he said AA we won’t look back before we move to the party. All they are doing at the national headquarters of the party (APC)

is Anti-Tinubu policies, not in Ondo alone but also in Kogi, Edo, Ogun and other parts of the country.

“Let Oyegun resign first and the problem of the party will be drastically reduced. Some people said it is because I want to be deputy governor at all cost. No! No! that is not true.

We are fighting for what is not right. The younger generation of the party is bitter with what is happening in the party. We don’t have option than to move out.

“Some people are using president Buhari’s name to do the evil but I don’t know why the President kept silent. Someone who keeps silent in a situation like this – it is either the person is a coward or confused”, he said.

The Ondo APC story is recent and not lost on Nigerians. Tinubu initially said he was not going to support any candidate until two weeks when he made the final call to support Abraham only a week to the primaries. It was then that Ilori joined Abraham’s camp in compliance with Asiwaju’s directive about

three days to the primaries.

The acrimony followed alleged delegate list manipulation, which led to a situation where Ilori’s delegates were allegedly disenfranchised.

His team raised a petition in conjunction with other aggrieved aspirants and the appeal panel ordered the cancellation of the primaries.

The NWC upheld the verdict of the appeal panel. Six members voted for cancellation and five for Akeredolu, but the National Chairman single-handedly submitted Akeredolu’s name to INEC. Hence, Ilori and Oke came back together and formed a common front to challenge the impunity by reviving AD which was the fore-runner of APC in Ondo State. Oke was the candidate and Ilori led the rigorous campaign, electrifying the process and making it more competitive as never seen in recent times.

Coming from obscurity, the AD and its candidate quickly became forces to reckon with as potential winner.

The people accepted the party as it spread like wild fire within the six weeks it had to prepare for the election. It was its acceptability that explained how it grew so fast and why its rallies were so huge.

Though they may have lost the election, the awareness that the AD created through Ilori and his principal has shown he has something strong deposited in him politically. The candidate and his DG made a very strong showing in the race.

Thus, whilst all the old men like Akeredolu, Oke and Mimiko will soon go out of reckoning in the state’s polity, the like of Ilori are set to take the stage from them.

And when the future comes, he has some elements working in his favour. First, he is politically-aggressive, grassroots-oriented, media-friendly, resilient and confident. All these came together to help him organise one of the most feared campaigns ever witnessed in Ondo State. It shook Ondo to its foundation within six weeks and watchers are looking towards 2020, which is just around the corner.

He is expected to make even greater impacts.

T H I S M I N I S T E R I S T O T A L LY ‘ S P E N D E D ’ (NSC) led by Mallam Alhassan Yakmut.

The president approved the sum of N2.9 billion for Team Nigeria’s participation in the 2015 African Games in Congo and preparation of athletes for the Rio Olympics which is only days away. After the release of the money, Yakmut went to work. Athletes who represented the country at the Games commended his ability to ensure their welfare.

This reflected in the performance of Team Nigeria that placed third behind South Africa and Egypt in Maputo, Mozambique, reclaiming the number two spot in Congo.

Yakmut also claimed that about N640 million was set aside for teams towards preparation for the Rio Games out of the 2.9bn. It was when preparation was about to start in the various camps that Dalung came with mindset that all officials in the sports sector were corrupt.

Shortly after Dalung became minister, Yakmut was redeployed to another ministry, the NSC

was scrapped, sports officials were neglected while he operated from the youth sector of the ministry and due to distance, federations began to have problems as communication gap between them and the ministry became widened. So, files relating to team’s camping and training tours in preparation for the Olympics piled at the ministry’s offices and that was the beginning of the trouble for athletes at the Olympics.

That was why players in the sports sector were taken aback when Dalung told Nigerians that the N2.9 billion approved by President Buhari has not been accounted for and that there was no money to prepare Team Nigeria for the Olympic Games.

Following Dalung’s claim that he didn’t know of any money left from the African Games fund, Yakmut replied that the minister instructed him to pay some money from the over N640 million left from the N2.9 billion to the Nigeria

Football Federation to prosecute some of their programmes and he never denied that.

The eventual mismanagement of the Rio Olympics which became a national embarrassment is another reason the president cannot continue to keep Dalung.

That the men’s soccer team got stranded in Atlanta after training and arrived in Brazil few hours before their first match against Japan in Manaus, Brazil due to “logistical mix-up” with the operators of their charter aircraft was an evident indication of lack of capacity.

The minister is just getting around an alleged embarrassing statement that the federal government did not anticipate the victory of the Super Falcons but assured the people that government would pay them.

“One thing I always make clear is that the process of request for funds for sporting projects must come earlier to meet the objectives. Don’t forget that nobody even knew the team will

emerge victorious but we were confident they will emerge victorious. All the federation would have done is to plan for process of participation and entitlement and when they win, it is already established in sports tradition: when you win, this is what you are entitled to.

Soon, a sit-in protest by the female team had reached seven days at an Abuja hotel before the president ordered their money paid and was done following the presidential intervention.

For all it is worth, these hiccups are not good images in sports, let alone the country.

The minister has proven to be incapable of effecting any kind of reforms in the ministry and above all, exposed his innate incompetence.

Thus, to continue to keep him means something is also utterly wrong with the leadership of the country if it is unable to fathom that nothing good can actually come out of the sports ministry for as long as Dalung sits as its minister.

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FEATURES

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

Christmas Pains With just few days to Christmas, the expected enthusiasm and ecstasy among Nigerians is nowhere to be seen, writes Martins Ifijeh

Buyers at the busy Ejigbo Market...inflation has continued to affect prices of food items

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hile many families across the globe are looking forward to Christmas, Mr. Jude Emeka is hoping the day never comes. He is wishing he could run away from the reality that in a few days, his children will be expecting new clothes, shoes and wristwatches. They will also expect at least a special ‘Jollof’ rice with unusually big chicken, as has been the case in previous years.

But Emeka will have none of that this year.

The economic hardship in Nigeria has taken a toll on him, shrinking his once-booming business to a state he is no longer making profits and providing gifts and treats for his family. Inflation of goods and services hit an all-time high of 18 per cent in the country, and the apathy by customers to patronise his line of business has weaned down as prices soar everyday. He is now barely able to fend for his family on a normal day, not to talk of providing much more at Christmas.

“This is the worst Christmas period of my life. I am yet to buy even the tiniest of things needed to enjoy a family Christmas. I remember years ago, before August or September, I would have bought my children’s Christmas clothes and shoes. Also, I would have bought gifts that should be taken along with us to the

village for the New Year celebration,” he said.

Emeka often spends Christmas with his family in Lagos State where they reside, and spend the New Year in Imo, his state of origin.

This is the worst Christmas period of my life. I am yet to buy even the tiniest of things needed to enjoy a family Christmas. I remember years ago, before August or September, I would have bought my children’s Christmas clothes and shoes. Also, I would have bought gifts that should be taken along with us to the village for the New Year celebration

Now that seems to be a luxury to him.

“But as I am talking to you, I am yet to fully pay the school fees of my children for this term. I had to beg the school management to exercise patience until January next year to be able to complete the fees. If I haven’t paid that, how then can I settle their Christmas needs,” the business man who deals on clothing materials, laments.

He said generally, the year has been bad for business as several policies of the President Muhammadu Buhari-led administration have affected businesses in the country. “Before, when I take N40,000 to the market, I end up filling my shop, but now, even if I go with N300,000, you won’t see it in the shop. Most painful aspect is that the customers we are expecting to patronise us also have a severed income flow. If you don’t have money to patronise us, no matter how beautiful our goods are, you won’t buy. That is the vicious circle we have been experiencing since the beginning of the year,” he added.

He said with the increase in prices of food items, like rice and groundnut oil, he may have to settle for a low key Christmas, as he plans to explain to his children that the year has been unique in a negative way, hence he may be unable to make the yuletide an enjoyable one for them.

Like Emeka, a secondary school Chemistry

teacher, Mrs. Grace Adedeji is planning a structural adjustment for her family during the Christmas and New Year celebrations.

She wonders why prices of food items are continuously on the increase while there is scarcity of funds everywhere.

“It is not rocket science, there is hardship everywhere. My salary has not been increased in recent years, but most food items have more than tripled in the market. So it will be difficult spending our lean funds on purchase of a bag of rice, which is around N20,000, as against its previous price of N9,000.”

Adedeji said people who used to benefit from her in terms of gifts during Christmas and New Year season would have to wait till next year celebration as the small cash flow would not be enough to accommodate the usual routines due to inflation and recession.

“My elder sister and my favourite uncle would have to give me a break this season, as our monthly take home from the government can no longer take anyone home,” she added.

“I and my retired husband were planning to take our children to Ibadan on the 26th of December, which is Boxing Day, but that will not happen again. The economic hardship this year has been terrible. Though I still constantly receive my salaries, I wonder how many Nigerians without source of income will be able to celebrate the Christmas with

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FEATURES

their families,” she retorted.

She predicts that the celebration will be a low keyed one for millions of families across the country, as the economic hardship was not only peculiar to people living in Lagos State alone. “I listen to the news and I hear how Nigerians are grumbling with scarcity of money all over. Even those who used to go abroad to shop for the season are no longer able to afford it as one dollar is said to be nearing N500,” she adds.

For a Lagos cab driver, Waheed, his response to how the Christmas day will be spent elicits laughter among his colleagues when asked by THISDAY. According to him, he always cautions his children on going to neigbhours’ and family friend’s houses to eat on Christmas and New Year day, as there was always enough to eat and drink in his house every yuletide season. He also believed it was not the right way of bringing up children.

“But this time, I will give them an opposite instruction. I will tell them to dress nicely that morning and make sure they eat everywhere they go. They have to be full by evening before they come home, so I and my wife won’t have to stress ourselves spending money for special meal for them,” he said jokingly, triggering his colleagues to say they may adopt the same method for their families, as business has gone down for them.

“Before, I used to work between N5,000 and N7,000 daily, but since this year, it is most often N2,000 per day or less. From that money I will buy fuel, give my wife some for food, as well as repair my car.”

He added that people who would ordinarily take a drop for N4,000 before, now prices between N800 and N1,500 for the same distance, even during traffic hours. “How do we cope like that, when we are supposed to be making more money each year, the reverse is the case,” he said.

He said he has no business buying special Christmas clothes for his children, as he was still struggling to feed them daily. Waheed who has five children said, “Now my wife cooks a pot of soup for N2,000 or above. You can imagine just how many times we will use the soup with the number of children I have.”

On how best to maximise the little he has for the yuletide, he said since he has been unable to save due to high demands and less revenue, he would buy a paint rubber of rice and buy other food ingredients in small quantities, and hopes his family gets satisfied with the little he could offer.

Tina Eromonsele, who sells cosmetic products but switches to celebratory items every Christmas season, said this year she was skeptical about investing her money into the items, adding that they may not be patronised like in previous years due to several complaints by Nigerians of lack of money.

“I am still contemplating whether to invest in the part-time business or not, as it is increasingly difficult for people to part with money these days. I won’t blame them because getting money now is like a camel passing through the eye of a needle.”

She added that she would have to observe the mood and enthusiasm towards the season before she makes any decision. “If I observe that people are becoming excited and looking forward to Christmas and the New Year, I may

Rice dealer at the Ejigbo Market...the price of rice has continued to increase by the day

The busy Ejigbo Market

It is not rocket science, there is hardship everywhere. My salary has not been increased in recent years, but most food items have more than tripled in the market. So it will be difficult spending our lean funds on purchase of a bag of rice, which is around N20,000, as against its previous price of N9,000

change my mind and then buy some things.

But it may have to be in small quantities,” she added.

Lending his voice, a car washer, Callistus Nwadike, says with the little he gets from his business, he will try to give his family a treat for Christmas and New Year, only that he may not travel home this season as against previous years due to lack of funds.

He complained that business has been terrible this year and that Christmas will not be as enjoyable as before. “These days, people prefer to wash their cars themselves rather than give them to us, and this has affected business negatively. So it’s difficult making the same amount during this economically difficult period than previous years,” adding that the Buhari-led government has not provided a better alternative than the previous government.

For a banker, Samuel Ajeh, he is not bothered with preparation for the season, as he sees

the yuletide period as a season of reflection, rather than a period of incurring so much expenses. “We should all take such period as a season of sober reflection, draw nearer to God and be with our loved ones and families.

“Most people cause problems for themselves during celebration periods like this. They would want to go above their income just to please their neigbhours or the society. If your money can’t buy turkey or chicken, use fish. If you are unable able to make that special delicacy you crave for during Christmas, then cook the meal your money can afford, because what matters is that you understand the reason for the season, which is the birth of our Lord Jesus Christ.”

Ajeh said the only thing he prays for was for the government and the citizens to create enabling environment for peace during the period. “Government should ensure security of lives and property these periods, as experience has shown in recent years that

yuletide seasons come with crimes, terrorist attacks and all manner of unrest due to the anxiety to meet up with societal demands,” he added.

Emeka, Waheed and Eromonsele are not the only Nigerians grappling with the harsh economic situation during the yuletide season.

Several millions of Nigerians will not be celebrating the season as they would have loved to. In fact, many Nigerians are wishing the season never comes.

With U.S. dollar now at N486, many local and international business interests folding up, plus increased laying off of employees due to lack of money to pay for their salaries, and the resultant inflation rate at 18 per cent, which has further stifled the economy and caused increase in the prices of food, clothes, among other items, the Christmas and New Year celebrations may just be bleak for Nigerians, who never dreamt that this era will ever come their way –an era like no other.

22

IMAGES

L-R: Publisher & CEO EMEA Finance, Christopher Moore; Deputy Director and Head, Financial Advisory, Afolabi Olorode, and, Head, Marketing & Corporate Communications, Lolade Sasore receiving the award for Best Local Investment Bank in Nigeria and Best Asset Manager in Nigeria on behalf of FBNCapital at the 2016 African Banking Awards, held recently.

THISDAY •WEDNESDAY DECEMBER 21, 2016

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

L-R; Pastor-in-Charger, Positive Influence Christian, Lagos, Rev Sola Iwaeni; General Overseer, Abundant Life Gospel Church Lagos, Rev (Dr) Jane Onaolapo and The Abundant Life Church, Rev Adedotun Adeniyi at Dr Onaolapo’s book presentation ceremony in Lagos... recently.

L-R;: Zonal Head, Ikeja 1 of First City Monument Bank (FCMB), Mrs. Rafat Muhammed; a staff of the Bank, Miss.

Blessing Francis; one of the winners of N2million at the grand finale draw of the “FCMB Millionaire Promo Season 3”, Mr. Ibrahim Fatai; the Divisional Head, Retail Banking, FCMB, Mr. Olu Akanmu and a friend of the winner, Mr. Sanusi Shuaibu , during the cheque presentation ceremony to Mr. Fatai in Lagos....recenntly

L-R; Corporate Affairs Adviser, Nigerian Breweries Plc; Mr. Kufre Ekanem; President, Rotary Club of Lagos, Rotarian Modupe Sasore; Board Secretary, SUBEB, Mrs. Abosede Adelaja; Sole Administrator, Surulere Local Government Area, Mr. Sheriff Balogun; and former President, Rotary Club of Lagos, Rotarian Larry Agose, at the official commissioning of Randle Avenue Primary School Library by Nigerian Breweries Plc in partnership with Rotary Club of Lagos, recently sunday adigun

L-R; Iyanu Akinremi; Chinelo Umeh; Oghechi Emeghi; Host/Initiator. Painting for Christ, Ayobola Adedayo and Sheila Nelson during the Painting for Christ exhibition organized to unite Christians from various denominations together in, Lagos.....recently.

L-R: Branding / Communication Analyst, Pal Pensions, Esther Ahaiwe; Regional Manager Lagos, Pal Pensions, Mabel George; The 3rd prize winner of Pal Pensions Art and Essay competition, Quadri Uthman of Western College Yaba, and the Principal, Olamoyegun Olusegun, during the prize presentation by Pal Pensions in Lagos.. recently PHOTO: ETOP UKUTT

L-R: Assistant Director, Training Depth, Lagos State Ministry of Establishments, Training and Pensions, Mrs. Bibilomo Olushekun; Managing Director/CEO, Vitech Trainers Limited, Mr. Olalekan Okediji and Director, Human Resources, Vitech Trainers, Mrs. Titilope Akomolafe, during the opening of a 3-day specialized training programme for Lagos State public servants, jointly organized by the ministry of Establishments and Vitech, in Lagos…recently kola olasupo

A cross section of the contestants for the Glo Campus Data Diva beauty pageant during the UNIBEN edition of the Glo Campus Storm held at the In-Door Sports Complex of the university in Benin....recently.

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T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

A S

A T

D E C E M B E R

NIBOR 3-MONTH

4.150% 15.8625%

6-MONTH

18.3916% 21.0554%

NITTY 1-MONTH 2-MONTH

11.4397% 16.8358%

Group Business Editor Chika Amanze-Nwachuku

Email chika.amanzenwachukwu@thisdaylive.com 08033294157

9 , 3-MONTH 6-MONTH

2 0 1 6 17.1394% 19.7842%

EXCHANGE RATE N305//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes LCCI FSG Gets New Chairman

The Financial Services Group (FSG) of the Lagos Chamber of Commerce and Industry (LCCI) has elected Mrs. Mojisola Bakare, to steer the ship of the group and take charge of its affairs for the next two years. This followed the expiration of the term of office of the previous executives of the group. Mojisola Bakare holds a Bachelor of Arts degree in English from the Lagos State University and a Master’s degree in Business Administration from Bangor University, Bangor, North Wales.

She is an elected member of the Governing Council of the Chartered Institute of Bankers of Nigeria and she has over 26 years post -graduation work experience, out of which twenty-four years has been in Banking.

The LCCI FSG Chairman expresses commitment to the group’s mandate to promote and protect the interest of members, ensure financial inclusion and regular engagement with regulatory agencies.

Director General, LCCI, Mr. Muda Yusuf said: “We are very pleased as Mrs. Mojisola Bakare assumes the role of Chairman, LCCI Financial Services Group.’’ Her election will ensure and enhance the Chamber’s role as a leading advocate of best business practice and principles in the operations and regulation of the financial services sector.”

Fidelity Bank Wins Ghana Award

EXCHANGING VIEWS

L-R: Managing Director/ CEO Mutual Benefit Assurance Plc, Segun Omosehin with the President, Nigerian Council of Registered Insurance Brokers,( NCRIB) Kayode Okunoren at the Members’ Evening of NCRIB held in Lagos … recently

Equities Market Recovers N500bn in 12 Days on Bargain Hunting Goddy Egene An end of year renewed demand by bargain hunters lifted by stock market 5.8 per cent in 12 days on the last month of the year. The bearish trend in the market had depressed the market by 7.27 per cent in the month of November, making operators and other stakeholders to be apprehensive that negative sentiments would persist till the end of the year.

However, a renewed demand by investors, who are taking advantage of low priced stocks, reversed the trend leading to a growth of 5.8 per cent.

Specifically, the Nigerian Stock Exchange (NSE) All-Share

CAPITAL MARKET Index rose from 25,241.63 to close at 26,707.10 in 12 trading days between November 30, and December 16, 2016.

Similarly, market capitalisation added N8.689 trillion to N9.189 trillion within the same period.

Investors renewed demand for oil/gas and banking stocks.

Particularly, most investors have been swayed to oil stocks by the decision of Organisation of Petroleum Producing and Exporting Countries (OPEC) and nonOPEC members, who agreed a deal to curb their production.

This decision led to a rally in the price of crude oil, which

has in turn increased demand for oil stocks.

This development led to a recovery of 5.8 per cent or N500 billion within 12 days, compared with a decline of 7.27 per cent.

Analysts at FSDH Research had said the equity market recorded its second largest month on month loss in November, saying that macro-economic challenges continued to affect quoted companies.

They said, market activities picked up in the month of November 2016, compared with October 2016.

The volume of stocks traded increased by 65.96 per cent to N6.09 billion. The value of stocks traded also increased

marginally by 0.56 per cent to N32.20 billion.

According to them, the movement in the NSE ASI in November showed that the equity market is awaiting clear economic policy direction for investors to take positions.

“Any positive pronouncement in December 2016 from the federal government that will improve confidence in the economy will likely lead to a modest appreciation in the equity market. The planned crude oil production cut may have positive impact on oil price. Consequently, equity prices may respond positively,” the analysts said.

Continued on page 24

49.14m Bank Customers Enrolled on BVN as at November Obinna Chima Total number of bank customers that have registered on the Bank Verification Number (BVN) as at November 2016 stood at 49.14 million, data compiled from the Nigeria Interbank Settlement Systems Plc’s (NIBSS) website revealed.

The data showed that the figure represented a significant increase, compared with the 21.2 million recorded exactly a year ago.

The data also showed that on a monthly basis, the enrollment on BVN has continued

BANKING to improve steadily.

For instance, as at January this year, 30.13 million customers had gotten their BVN, compared with the 2.24 million it was as at January 2015. Also, enrolment increased further to 31.11 million as at February this year (2.71 million as at February 2015); 32.19 million in March (3.34 million as at March 2015); 33.63 million in April 2016 (7.71 million April 2015); 35.44 million in May (9.2 million as at May 2015); and 36.12 million as at June

(12.49 million as at June 2015).

Furthermore, the data showed that enrolment on the BVN platform sustained its uptick in July, when it climbed to 36.79 million registered bank customers (12.73 million as at July 2015); 46.39 million in August 2016 (13.74 million in same month in 2015); 47.35 million in as at September (14.58 million as at September 2015); and 48.14 million customers as at October this year.

The Central Bank of Nigeria (CBN), in collaboration with the Bankers’ Committee had introduced the BVN on Feb-

ruary 14, 2014. The initiative was aimed at ensuring unique identity for all bank customers and other users of financial services in the country by the use of the customers’ biometrics as means of identification.

The BVN is a number that enables one person to have a single identity in the banking system. It basically ensures that a customer’s identity is not stolen. It has been described as a ‘silver-bullet solution’ to many of the challenges in the banking industry. A customer is only expected to register at Continued on page 24

Fidelity Bank Plc said it emerged Ghana ‘Bank of the Year’ 2016 at the The Banker’s 17th annual Bank of the Year awards held in London recently.

A statement quoted the judges while commenting on Fidelity Bank’s accomplishment to have said: “In a highly competitive banking sector Fidelity Bank has emerged as the standout entrant for the Ghana country award. Sound portfolio management, a commitment to innovation and an excellent financial performance all contributed to the judging panel’s decision.

“In local currency terms, Fidelity Bank’s Tier 1 capital increased by 31 per cent in 2015 while its total assets and net profits grew by 36 per cent and 83 per cent respectively. Similarly, return on equity hit 33 per cent in 2015, up from 31 per cent in the previous year, while its cost-to-income ratio fell to 53 per cent, from 56 per cent in 2014. “To better tackle non-performing loans (NPLs), Fidelity Bank established a dedicated recoveries unit, while its strategy of booking only the highest quality assets has led to the lender’s loan book dramatically outperforming the sector average. In 2015, the industry NPL ratio was 15% against Fidelity Bank’s 2.27 per cent.”

According to the statement, in 2015, Fidelity Bahason Ghana, completed the acquisition of ProCredit Savings and Loans. The deal, it stated, bolstered the bank’s position in the small and mediumsized enterprise (SME) market, in which ProCredit was a focus, while growing the bank’s footprint by a further 75 branches, 109 ATMs and a further 693,000 customers.

IFAD to Alleviate Poverty in Morocco

The International Fund for Agricultural Development (IFAD) and Morocco on Monday signed a financing agreement to improve the living conditions of rural people in mountain areas and reduce poverty by 30 per cent by 2030.

The Atlas Mountains Rural Development Project will benefit 182,000 people in 18 rural communes in the provinces of Ouarzazate, Tinghir and Beni Mellal. The total project investment is US$61.3 million, including a $45.1 million IFAD loan and a $1.4 million grant. The project is cofinanced by the Government of Morocco ($13.6 million) and by the beneficiaries themselves ($1.2 million).

The financial agreement was signed in Rome by Michel Mordasini, Vice-President of IFAD and Morocco’s Ambassador to Italy, Hassan Abouyoub.InMorocco,theagriculturalsectorremainskeyfornational macro-economic stability and economic and social development.

Provinces located in mountainous areas are among the poorest, due to devastating floods and prolonged droughts from the impact of climate change, the high illiteracy rate and lack of access to financial services.

The project will focus on areas that are prone to extreme effects of climate change and socio-economic vulnerability and where there are poverty hotspots.

We are optimistic that the external factors that partly contributed to push our economy into recession will ebb in 2017

President Muhammadu Buhari

24

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

BUSINESSWORLD EQUITIES MARKET RECOVERS N500BN IN 12 DAYS ON BARGAIN HUNTING Making recommendation on what investors should do, FSDH Research advised investors to maintain a medium to long term position in the equities market.

“We recommend that investors should maintain a medium-to-long term position in the equity market. We reiterate that long-term investors should take long positions in stocks that have strong fundamentals,” they said.

The analysts added that the performance of the equity market in the last three years shows that the market recorded positive performances between November and December.

“However, the current economic headwinds and the initiative of the government may determine the movement in the equity market in December 2016,” they stated.

49.14M BANK CUSTOMERS ENROLLED ON BVN AS AT NOVEMBER one bank, irrespective of the number of accounts he has.

Certain forms of identification are easy to counterfeit, which had led to a rise in identity theft today. But by making use of the BVN biometrics technologies, the banking industry would enjoy enhanced security, providing consumers with better security that protects their money, financial information and identity. According to a report by the Alliance for Financial Inclusion, there are many advantages associated with secure, unique identification.

The primary effect will be improved access to financial services, enabling people to benefit from credit and savings facilities.

Research has also shown that proper customer identification can have a positive effect on the behavior of risky users of financial services. The scheme is also expected to improve the banking system’s Know-Your-Customer (KYC) requirements as stated by the Financial Action Task Force (FATF) as well as to support innovative banking solutions, especially for retail banking.

NEWS

BoI Shortlists 976 Graduates for N2bn Entrepreneurship Fund James Emejo in Abuja

He said: ‘’At the end of the training and by the deadline of February 15, 2016 for the submission of loan applications, a total of 361 candidates had submitted requests for an aggregate sum of N695.16 million spanning across 27 out of the 40 Micro, Small and Medium Enterprise (MSME) product clusters identified by BOI. “Subsequently, a total loan of N439.8 million was approved for 260 candidates and 140 projects have so far been fully

implemented with a total sum of N194.4 million disbursed.

“These young Nigerians have not only taken themselves out of the job markets, but have become employers of labour such that their businesses have created 560 direct jobs and over 2,000 indirect jobs.”

Represented by the Divisional Head, SME North, Mr. Omar Shekarau, Olagunju explained that the second edition of the scheme was embarked upon based on the success of the first

edition which saw 140 projects fully implemented with a total sum of N194.4 million disbursed.

He said that the programme created560 direct and over 2,000 indirect employment.

He added that the first phase had recorded a total of 896 participants at the 3-day capacity building programme which was held from 18th to 21st November 2015 at seven designated training centres across the country. Also speaking at the event, the Special Assistant to the

Governor on Youth Development and Chairman of the State’s NYSC Board, Alhaji Ibrahim Aminu commended the bank’s initiatives geared at encouraging youth entrepreneurship.

Aminu, however, challenged the corps members to take advantage of the opportunity provided by the scheme and the NYSC through GEF to become better versions of themselves and improve their society by floating viable businesses which would help create jobs.

The Bank of Industry (BoI) has commenced training programme for the 976 corp members qualified to access N2 billion under the Graduate Entrepreneurship Fund (GEF) scheme, which is currently in its second phase.

The shortlisted applicants from the six geo-political zones were selected after a careful appraisal of applications submitted to the bank.

After undergoing intensive capacity development programme and upon submission of bankable projects, successful applicants will have the opportunity to get a maximum of N2 million at 9 per cent interest rate, payable over a three to four year period.

The scheme is an ongoing collaboration between the development finance institution and the directorate of the National Youth Service Corps, to encourage graduates of tertiary institutions in the country to become employers of labour rather than job seekers.

Speaking in Katsina State during the opening ceremony of the four-day in-class capacity building programme for participants, acting Managing Director of BoI, Mr. Waheed Olagunju said the initiative was designed to empower the Nigerian youth, knowing that government alone could not sufficiently address L-R: President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Olusola Teniola and Director General, National Information the unemployment situation in Information Technology Development Agency (NITDA), Dr. Isa Ali Pantami at the West Africa Convergence Conference (WACC) 2016 in the country.

Lagos...recently

DISCUSSING CONVERGENCE

NNDC Board Chairman Decries Harsh Business Environment John Shiklam in Kaduna Chairman, board of directors of the New Nigeria Development Company ( NNDC), jointly owned by the 19 Northern states, Alhaji Bashir Mohammed Dalhatu has said that the harsh economic situation and the volatile business environment have impacted negatively on the performance of the company.

In an address at the 21st annual general meeting (AGM) of the company at its corporate headquarters in Kaduna at the weekend, he said the NNDC operated under severe business environment.

According to him, the

continuous decline in the international price of crude oil, which led to a sharp decline in government revenue, leading to a significant reduction in foreign earnings and the unabated devaluation of the Naira against other major foreign currencies, made it very difficult to do business.

He stressed that the situation was further compounded by the activities of the Niger Delta Militants which impacted negatively on oil production for export.

According to him, the delay in the formation of the federal cabinet also led to capital flights as well as serious decline in foreign

direct investment.

Dalhatu noted that the implementation of the Treasury Single Account (TSA), aimed at blocking leakages of government revenue, fight against corruption and removal of subsidy resulted in liquidity squeeze in the economy, pointing out that the over all impact of these policies on businesses was a decline in earnings as well as increase in cost of doing business.

He said however said that in spite of these challenges, the NNDC strived to attain a modest performance and has remained resolute and focused in achieving its set goals as set out in its five

year strategic plan.

He disclosed that the company recorded a 3 per cent decline in income from N923.9 million in the previous year to N898.6million, which he attributed to lower dividend income.

He also said a 29 per cent decrease in operating profit before tax from N237.2 million to N167.9 million was recorded while the company was able to improve in its net share assets per share by 1.7 per cent from N18.5 per share to N18.8 when compare with the results of the year ended March 31, 2015 respectively.

He said despite the harsh economic condition, the

company did not fail in its corporate social responsibility as it embarked on the development of quality manpower for the north and the country at large by promoting the NNDC Young Professionals Development Trust (NNDC/ YPDT) for the training of young people in various professional skills such as accounting, Stock Broking, Insurance and Information Technology.

He expressed optimism about the next financial year, saying “it is anticipated that the various policies of government would have started having positive impact on the business environment.”

ECOWAS Farmers Advocate Coherence, Harmonisation of Agricultural Policies Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)

Adedayo Akinwale in Abuja Farmers from the sixteen Economic Communities West Africa States (ECOWAS) have advocated coherence, alignment and harmonisation of sectoral polices in agriculture in order to boost food production in the region.The farmers said that this cannot be achieved if policy makers and financiers of the development of agricultural sector in the region conclude trade agreements that open up the regional markets to imported subsidised food products drop other continents.

The farmers under the

aegis of Association for the Promotion of Livestock in the Sahel and Savannah (APESS), Confederation of Traditional Livestock Organisation (CORET), Network of Breeders’ Organisations and Pastoralists in Africa Reseau Billital Maroobe (RBM) and the Network of Farmers’ and Producers Organisation in West Africa (ROPPA), made the call in Abuja.

Speaking on behalf of the farmers ahead of the meeting of Ministers in charge of Agriculture in ECOWAS region in Abuja, the President of ROPPA, Djibo Bangna stated

that farmers in the region share the ECOWAP’s vision of modernisation and agree on its importance with regard to the current issues of food sovereignty and climate change.

The farmers however noted that, “modernisation must respect the path, values and principles of family farming.

Modernising also means relying on indigenous Knowledge and enhancing it. Modernisation should not be an opportunity to exclude certain family farms from evolution but to allow diversification because it aims must be the fight against poverty and sustainable

development. “ Bangna emphasised that significant investments are needed to make the sector attractive, as well as retaining young people on family farms and to encourage their integration, thus avoiding exodus and exile.

He also pointed out that the performance and viability of family farms in also based on taking into account and valuing the role of women, the mainstay of processing, and valorisation of production.

Bagna therefore called for effective policy coherence, alignment and harmonisation

of the technical and Financial Partners (TFPs) support on orientations, objectives, principles, programs and ECOWAP. “That is why the Regional Producers Organisation that President Muhammadu Buhari and President Yahaya Jammeh of The Gambia who refused to sign the Economic Partnership Agreement (EPAs) between the European Union and the ECOWAS countries.

We urge other countries who have signed the EPA to review their stands at as to enhance local agricultural production and intra-regional trade,” he added.

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

25

BUSINESSWORLD

NEWS

Insurers Tax FG on Special Forex for Airlines Ebere Nwoji Insurance sector operators, have urged the federal government to collaborate with the Central Bank of Nigeria ( CBN) to create what they described as special-forex-assessment policy for airline operators to enable them pay premium to their foreign reinsurers on a regular bases.

The operators, also raised the alarm that some airline operators in Nigeria especially private aircraft owners fly without adequate insurance arrangement especially challenging aviation ministry and its allied agencies to wake up and bring such offenders to book for punishment.

The operators spoke against recent traits by the global reinsurance giant Lloyd’s of London that it will delist Nigerian Airline operators from its reinsurance cover on account of irregular premium payment.

The operators said since the airline operators’ failure to meet their foreign reinsurance obligation was attributed to forex constraints as indicated by the chairman, Association

of Airline operators of Nigeria (AON), Sir Nogie Meggison, the government should give them special consideration in its present forex policy.

Managing Director, Mutual Benefit Assurance Plc Segun Omosehin, speaking to THISDAY on the issue said considering the fact that aviation is a very critical sector and the fact that aviation insurance is a very critical issue, which if not in place, means the aircraft cannot fly, government should give the sector special consideration by making discriminatory forex policy for them.

He said this has become necessary because local reinsurers cannot provide all the cover that the airline operates need.

According to him, “aviation risk is huge, domestic insurers and reinsurers retain only 5 percent or 2. 5 percent of their shareholders’ funds.

Aviation risks are major risks most domestic reinsurers cannot take it, therefore, if reinsurers like Lloyd’s reject them, it means they cannot fly”. on the other hand, he said most

aircrafts are leased, therefore the airline operators should make haste and talk to their foreign financiers to pay on their behalf.

The Mutual Benefit boss, also said government needs to release funds and come to their aid so that aviation sector will be safe.

On the implication of the proposed delisting, for underwriters, he said for underwriters, if it happens, there will be drop in premium from aviation line of business because aviation line of business is a huge source of premium. Therefore, if the Foreign reinsurers take such action, it will lead to reduction of income rolling from the business line which will also lead to drop on the contribution of insurance to the GDP. The government should have special arrangement with CBN for them to source forex. Aviation is a critical sector, therefore, government should consider them in policy making”’ he stated.

Speaking, Managing Director, Boof Africa Insurance Brokers,Olumide Fatagun, said issue of irregular payment of premium to foreign insurers.

Yuletide: PFA Partners FRSC on Road Safety Promotion Ebere Nwoji Future Unity Glanvils Pensions Limited ( FUG), is partnering the Federal Road Safety Corps ( FRSC) in ensuring accident free yuletide.

The Pension Fund manager, recently donated 500 reflective jackets, 20,000 copies of safety information leaflets on tire titled ‘know your tire’ as well as leaflets on speed limit device to the commission.

Presenting the devices to the corps in his office in Lagos, Managing Director FUG Pensions, Usman Suleman said the items were delivered to the FRSC to support them to ensure accident free road during this year’s Yuletide.

He said FUG, has built the culture of partnering with community projects adding that it has partnered Lions club in renovating schools in Lagos, partnered with another organisation in providing support for orphanage homes.

“It is in that sense that this year,

when we got the information on partnering with the FRSC, we were happy because partnership is one of our core values and we always look at the project because we will want to ensure that during ember month, we carry out activities on road to ensure safety of people traveling to their destination,” he stated.

He said the reflective jackets, would help road Marshal on the highway to control speed and reckless driving as when they put on the reflective jackets, road users will know they are present on the road and as such, they will drive carefully and at limited speed.

According to him, the information leaflet on speed limit device, will be distributed to road users.

Suileman also said the information brochure on usage and maintenance of tyre will also be distributed to road users to educate them on use of tyre.

He observed that many vehicle owners don’t know that tire has

expiry date as such, they buy second hand tire that have expired and put them on roads.

He said the tire information brochure, will enable the corps ensure that motorists get educated in tire maintenance gauging and expiry dates.

Receiving the items, a representative of the Sector Commander FRSC Lagos, Eniola’s Ajayi, said the key point in the corps relationship with FUG Pensions ws partnership.

She said the FRSC values it more than any other thing.

He said road safety job is a share responsibility by everybody and called on all Nigerians to ensure that safety on the roads work.

He said the message on road safety should be spread to churches, mosque,and every public place adding that all months of the year are the same and that there is no difference between ember months often associated with heavy road accidents and other months of the year.

Continental Re Announces Panel for 2017 Pan - African Reinsurance Journalism Awards Continental Reinsurance Plc, has announced the jury members for the second edition of the Pan-African Re/Insurance Journalism Awards.

According to Continental Re, Afif Ben Yedder, Founder of IC Publications, publisher of leading magazines African Business and New African, will chair the jury this year.

Other panelists are: William Wallis, Leader Writer, Financial Times, Nadia Mensah-Acogny, Journalist, Forbes Afrique, Michael Wilson, Business & Finance Journalist,Julia Graham, Technical Director, Airmic.

Continental Reinsurance, the private sector champion of the pan-African reinsurance industry is sponsoring the awards.

A statement from the company said the awards are open to both English and French-speaking jour-

nalists covering the re/insurance sector in Africa.

Speaking on the forth coming edition of the award, the Group Managing Director/CEO of Continental Reinsurance, Dr. Femi Oyetunji, said: “The outstanding quality of our international judging panel attests to the importance and prestige of these awards. We are privileged to bring together a very talented group of top media and insurance experts, to judge Africa’s most effective journalism work on the topic of re/insurance.”

Afif Ben Yedder said: “As an industry expert, I applaud any initiative that encourages journalists to develop their knowledge and expertise, particularly in Africa.

Following the success of the inaugural awards, I look forward to reading this year’s entries.”

He said the international judging panel, will evaluate all the submitted articles according to the quality of information and how the work contributes to raising awareness and understanding of the re/insurance sector in Africa.

Furthermore, he said the jury members will independently select the recipients of the awards in three categories: Journalist of the Year, Best Analysis & Commentary and Best Feature article.

He said submission can be either a published article or a broadcasted radio/television clip in English or French.

According to the Continental Re boss,the review period is the 12 months leading up to the submission deadline date. Entrants have to be based in an African country.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

A String of Broken Promises You cannot begin to imagine the sight I saw a few months ago, when I went to transact business in a service establishment. I had gone to straighten outstanding issues I’d been talking about to my relationship managers telephonically and by email, which had not been resolved.

After concluding my transaction, on the second floor, as I descended the stairs and approached the hall where the generality of customers were attended to, I heard commotion coming from one direction of the hall. A man had stripped naked! It was a sight to behold. I had never seen a thing like that in my life! A grown man naked in all of his glory. The women did not know where to look and were all looking away in embarrassment and so was yours truly.

We were all in askance and I am sure everybody felt violated, because I did too. We all started berating the man, “why have you removed all of your clothes? Are you not ashamed? What can possibly warrant this disgraceful behaviour?” Despite the commotion and the angst he was causing, he worsened the situation by sitting down naked.

The questions continued as everybody wanted to understand why he had to resort to this extreme behavior.

He reeled out a long tale of woe. His pain was that his money had been stuck in the establishment despite several visits and communication with the organisation to no avail. He felt he had no alternative but to strongly express his disappointment and give them a show down. Luckily for us, the security guards came and bundled him out. We all heaved a sigh of relief and shared our own challenges with the organisation. Many of us sympathised with the naked man. We could all relate with him and understood the frustration he must have felt. The incident left an indelible mark that I am sure I will never forget. Can you begin to imagine the man’s challenges with this organisation that made him lose all sense of decorum and resort to stripping naked in public?

He was driven crazy by the string of broken promises he had endured without tangible results.

An organisation currently driving people crazy is a popular domestic airline. They continually break their promises to their customers every day. We have all been shattered by their irresponsible and appalling service. They’ve lost all empathy for their customers and do not care about their brand and how inconveniencing their services have become. Many of us have had to travel with the first flight, irrespective of when our meetings were, because we did not want to miss important appointments.

People are also often left stranded at the airport and flights cancelled or unnecessarily delayed for hours, sometimes very late into the night.

I learnt the other day that some passengers lined up on the tarmac to stop a flight from leaving without them, because they had been waiting for two days without being air lifted. They more or less “hijacked” the plane just to get the service they were entitled to. How harrowing that experience must have been for them.

Many of us have suffered from broken promises from various establishments;

where we pay for services or products that are subpar. Why do some organisations do this? Once they think they have gotten your custom, they start to behave very badly. When a friend of mine narrated his experience on the airline I mentioned earlier, I told him the only reason the airline has continued to behave in the manner they are known for, is because they still have demand for their services, and if there is demand, why change? Until Nigerians stop using them and move to competition, they will not change.

Unfortunately organisations like this airline, are killing themselves and may soon become extinct. Historically, organisations that provide poor services and think that their customers do not matter, may be because they enjoy a monopoly at the time, are usually left in the cold once an alternative comes into the markets.

Most of the new entrants get a foothold into the market by cleaning up the mess of the organisation they are displacing. Breaking your promises to your customers has dire consequences for your business and should be avoided at all cost.

Thomson Dawson said: “If companies don’t deliver on their promises, it will have far reaching consequences. Promises matter to people. If organisations don’t deliver what they promise, in time, you won’t matter to them.

More importantly in our social media crazed world, vetting out broken promises made to customers has instant ramifications to the credibility and trajectory of your brand’s perceived value.”

To continue to remain valuable in the eyes of your customers you need to ensure that your front line representatives keep your organisations promises in their interactions with customers in-person, on the telephone, electronically or through social media as well as ensure your brand’s promises are fulfilled using feedback from customers.

Accenture conducted a survey on broken promises and found that organisations that keep their promises, “promise keepers” held a variety of trump cards starting with enhancing their brand image. These promise keepers are likely to retain their customers and capture new ones, achieve lower cost, cultivate good public relations and their customers will likely be high value ambassadors for the company’s products and services.

How can you become a promise keeper?

- Reinforce your processes, human customer services and implement the enabling technology - Empower friendly knowledgeable customer service representatives with the processes to resolve customer issues promptly and use appropriate offers to salvage broken relationships.

- Leverage technology to meet customers’ expectations across multiple channels.

- Listen to your customers and take action when a service breakdown occurs - Use analytics to understand underlying customer issues and intentions in order to solve underlying problems.

Many organisations know that it is a buyers’ market and some also know that customers are no longer following organisations blindly.

Yet, many organisations are not keeping their promises to their customers. Delivering and keeping your brand’s promise is the only way to ensure that your customers keep faith in you.

- Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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Weak Consumer Confidence and Nigeria’s Quest for Economic Recovery Restoring consumer confidence remains the key to Nigeria’s economic recovery, writes Obinna Chima

The Nigerian economy is mired in recession.

Consumer spending is weak, just as purchasing power continues to dwindle. This is majorly because most of the states have been defaulting on payment of wages to workers. Firms are hesitant to hire unemployed workers, given the macroeconomic challenges.

Also, monetary policy appears to have reached its limit as consumers and businesses resist to borrow, even as banks continue to battle with rising non-performing loans (NPLs).

Clearly, the depressed consumer confidence in the economy is reflecting on economic activities.

Consumer Confidence in Nigeria decreased to -28.20 in the third quarter of 2016 from -24.20 in the second quarter of 2016. Consumer Confidence in Nigeria averaged -8.57 from 2008 until 2016, reaching an all time high of 6.38 in the first quarter of 2011 and a record low of -28.20 in the third quarter of 2016. Consumer confidence is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending.

In Nigeria, the Consumer Expectations Survey provides consumers’ tendencies and expectations for general economic conditions, job opportunities, personal financial standing and market developments. The overall consumer confidence index is computed as an average of three measures: the outlook on macroeconomic conditions, family financial situation and family income.

In addition, the third quarter real gross domestic product (GDP) growth data released by the National Bureau of Statistics (NBS) had shown that the country sank deeper into recession, contracting by 2.26 per cent from -2.06 per cent in the second quarter of this year, and -0.36 per cent in the first quarter. This represented a 0.18 per cent drop from the growth recorded in the preceding quarter and lower by 5.08 per cent relative to the corresponding

quarter in 2015.

The latest GDP growth data further confirmed the level of weakness in consumer confidence as well as the economy, which has been hobbled by rising unemployment and job losses, declining capacity utilisation, and acute foreign exchange shortage.

Inflation, which climbed to 18.48 per cent in November, has maintained an 11-year high, as prices of goods and serves escalate.

But in response to the unpleasant situation in the country, the federal government has

In import-dependent Nigeria, where all fuel and one-quarter of the food consumed are imported, it comes as no surprise to us that consumer confidence and the more market-driven parallel FX rate are negatively correlated.

This correlation tells us that a weaker (stronger) naira dampens (ameliorates) consumption, as consumer goods become expensive (cheaper)

proposed an expansionary budget for 2017, through which it plans to increase spending and pull the economy out of recession.

The appropriation bill contained proposed aggregate expenditure of N7.298 trillion for the 2017 fiscal year. Part of the proposed budget estimates showed aggregate expenditure of N7.298 trillion. A significant portion of the recurrent expenditure was provisioned for the payment of salaries and overheads in institutions that provide critical public service.

Beyond these, the federal government also unveiled a 10-point fiscal roadmap, designed to place the economy on the path of recovery and growth.

Minister of Finance, Mrs. Kemi Adeosun said a major component of the roadmap is to replace administrative measures on the list of 41 items with fiscal measures to reduce demand pressure on FX at the parallel market.

Adeosun said, “The federal government’s Fiscal Roadmap is addressing barriers to growth that will drive productivity, generate jobs and broaden wealth creating opportunities to achieve inclusive growth.”

She stated that the president was determined to transform Nigeria to a productive economy from the one that is consumption driven. To do so, she pointed out, the federal government would tackle the infrastructure deficit to unlock productivity, improve business competitiveness and create employment. The minister stated that the government would actively partner the private sector to achieve this by use of a number of new funding platforms. These, according to her, include the Road Trust Fund, which will develop potentially tollable roads, and the Family Homes Fund, which is an on-going PPP initiative for funding of affordable housing.

Need to restore consumer confidence To Johannesburg-based sub-Saharan Africa Economist at Renaissance Capital (RenCap),

Yvonne Mhango, a recovery in oil output would help lift consumption. This, she however stressed may not be in the near term as government’s talks with the Niger Delta militants remains protracted.

She pointed out that the consumer sentiment of the majority of Nigeria’s households has been negative for five years. This was based on the consumer confidence index (CCI), which has been negative since third quarter 2011.

“We found Nigeria’s consumer confidence to be correlated with the petrol price, foreign exchange (FX) rate, interest rates, and oil output (in order of strength). Our outlook on the consumer is premised on our view of the aforementioned variables.

“In import-dependent Nigeria, where all fuel and one-quarter of the food consumed are imported, it comes as no surprise to us that consumer confidence and the more market-driven parallel FX rate are negatively correlated. This correlation tells us that a weaker (stronger) naira dampens (ameliorates) consumption, as consumer goods become expensive (cheaper).

“As we see the naira weakening further in the short term, consumer confidence is likely to worsen and consumption fall. The downside for the consumer may be mitigated by the fact that most imports are being transacted at the parallel FX rate,” she added.

She stressed the importance of fuel to Nigeria’s economy, saying it cannot be understated. Not only is it necessary for vehicles that transport passengers and distribute goods, it also powers houses and factories. So, when fuel prices increase, the share of disposable income leftover for other goods and services falls.

“We believe this explains the negative correlation between petrol prices and consumer confidence. A weakening naira implies that petrol Continued on page 27

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ANALYSIS

Adeosun

prices are set to increase in the short term. As incomes in Nigeria are flat or falling, higher energy prices mean less disposable income available to consume other goods and services.

“When the lending rate is increasing (decreasing), consumer confidence falls (improves). This is what the negative correlation between the two variables tells us. This may surprise those that know Nigerian households to be underleveraged, in part due to low credit penetration, compared with, say, Kenya”, she added.

Fiscal stimulus Also, some economists harped on the need for the federal government to resort to fiscal stimulus to revive growth and reset the economy.

The Head of Africa Research, Standard Chartered Bank, Razia Khan, said the situation in Nigeria did not come as a surprise largely because of the extent of the downturn in oil sector GDP. According to Khan, the resumption of payments to Niger Delta militants was not sufficient to trigger a meaningful improvement in production, saying that further attacks, reported in recent weeks, pose new risks to the outlook, as does the very real risk that there may not be any resolution to Niger Delta issues soon.

“However, flat growth does not in itself hold enough promise. The urgent adoption of reforms is now required in order to debottleneck Nigerian growth.

“Not least, real attention needs to be given to the problems of FX liquidity which continue to hold back growth in manufacturing. It is clear that the measures instituted so far are not sufficient to bring about a real improvement in FX inflows. New and different thinking is required,” Khan said.

The Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane, said: “Some things are definitely not working right,” in the country.

“The stimulus package has to be increased and intensified and the interest rate has to come down and they have to make forex available. The forex market arrangement now is not working and something has to be done and very quickly. There is no easy answer to it, but we must face the reality and find our way out of this situation,” the FDC boss stated.

Similarly, the Director General of the West African Institute for Financial and Economic Management, Prof. Akpan Ekpo, said the proposed $30 billion borrowing plan would go a long way in resetting the economy.

“To be honest, the government needs resources to spend and the delay in approving the borrowing is a problem. The lawmakers need to approve it for government to borrow quickly and put the money into capital project. That is very important.

“Secondly, a lot of the states are still not paying salaries. The federal government has to find a way of supporting the states to pay

Buhari

salaries,” the former vice-chancellor of the University of Uyo said.

Also, the Chief Consultant Biodun Adedipe Associate Limited, Dr. Biodun Adedipe advised the federal government to develop policies that would help tackle all firms of unemployment in the country.

The economist stressed that major challenge facing the nation presently are unemployment and underemployment, which is also referred to as disguised unemployment.

“Among 24 to 45 youths in the labour force, about 45 per cent of them are unemployed, and that is where the real issue is in dealing with recession. Unemployment has to be tackled to lead the economy out of recession. The challenge is that we have a weak production base in this country and that is also a challenge to this economy. “ In Nigeria, we consume what we don’t produce and produce what we don’t consume.

For instance, most of the agric produce, we generate from the farms and then export without adding any value. The value of the cocoa we sell to the rest of the world is by far so little compared with what we spend on chocolate and other derivatives of cocoa that we import.

In this case, we send the raw materials out, but we import finished goods,” he said.

We need structural changes in our institutions and ministries. It is important that performance scorecard is established for various ministries.

It is also important that feedback or monitoring mechanism is implemented.

For instance, the works department is responsible for registering companies, and there should be a target or quota like how many companies they are supposed to register within a period of time

According to Adedipe, if Nigeria is to get out of recession, it must not follow all the World Bank and IMF template, adding you have to sit back and look at what would work for the economy.

“It is not just to take whatever the World Bank and IMF tells us. I warned the government sometime not to listen to World Bank and IMF that says it is only when the growth rate is negative, that is when you fall into recession.

What we learnt about business cycle is that it is in four phases.

“You have boom, recession, which means the economy is going down, it doesn’t talk about negative growth, which means we should have been more worried and concerned in dealing with the downslide rather than wait until we enter negative growth. Of course, if you don’t deal with that, you enter a slump.

But a recession is not all bleak. If it has a message that eludes most people, it is that after recession, recovery would definitely follow.

What matters is what you do, rather than what you are going through in recession,” he added.

Furthermore, the economist expressed optimism that the economy was already on the path of recovery, just as he urged government to show leadership by ensuring that it increases spending.

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.”

On his part, the Chief Executive Officer, TGI Group of Companies, Christian Wessel, advised the federal government to increase its focus on the education sector in its bid to drive local production. According to Wessel, if Nigeria actually believes that supporting local production is the way to go, governments at all levels must promote and support quality education at all levels. Wessel further pointed that encouraging the local manufacturers all over the world goes along with renewed efforts to develop the education sectors.

“Nigeria has over the last years collapsed actually in the ‘Ease of Doing Business.’ But i was pleased that the Minister of Trade and Investment recently said improving the ‘Ease of Doing Business’ is one of his priorities. I don’t believe that foreign exchange scarcity is Nigeria’s major problem.

“I also believe the cost and time that it takes to establish and run a business has negative impacts on domestic production. There are smaller countries in Africa that have improved Ease of Doing Business. In Nigeria, both public and private sectors also need to increase efficiency. Everything here seems to be difficult, things are time are time consuming and resource allocation is so inconsistent,” Wessel added.

In his contribution, the Chief Executive Officer and Regional Head, West Africa, RMB, Mr. Michael Larbie, urged government to develop a roadmap that would help address infrastructure challenges across all sectors in the country.

“We need structural changes in our institutions and ministries. It is important that performance scorecard is established for various ministries.

It is also important that feedback or monitoring mechanism is implemented.

“For instance, the works department is responsible for registering companies, and there should be a target or quota like how many companies they are supposed to register within a period of time.

“If somebody submits documentation for registration, how long should you turn it around? We need to give ourselves standard.

We need to set targets and ensure we meet up to the target. If it’s two weeks and if after two weeks, it has not being done, there should be a good explanation,” Larbie added.

Also, the Managing Director, Grame Blaque Advisory, Zeal Akaraiwe called for a long-term economic plan to help address Nigeria’s challenges, even as he cited the challenges posed by foreign exchange scarcity in the country.

Similarly, a research analyst with FXTM, Lukman Otunuga, believes that diversification is the way out.

“Nigeria must look towards agriculture, tourism and manufacturing to get out of these shackles. You know where this country used to be. It can still get there. However, in the meantime, CBN should allow the naira to flow freely so it can finally find equilibrium. I am not talking of devaluation, because that is a very delicate one.

“This administration could have done that when it just came in. Right now, President Muhammadu Buhari might not want to do it because the common man will suffer more, Nigeria being import-dependent. It is a very tough position. Nigerians should brace up”, he said.

Clearly, there is need for the federal government to restore confidence in the economy, to gain the trust of both Nigerians and foreigners as well as to attract the desired investments needed to stimulate economic activities. Consumer confidence is almost always determined by national economic conditions, rather than by global events, or events in one or more other countries. Confidence is the lens through which consumers see their economic environment and what we see influences how we respond.

Indeed, when consumers know what to expect, and are not feeling uncertain, they can tolerate a lot. Inflation, high or low, matters more or less depending on how far those affected anticipate it and can consequently incorporate it into their expectations about coming price changes, but consumers often react strongly when inflation is unexpected.

They don’t like economic surprises.

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Fear of Mismanagement of $30bn Borrowings Goddy Egene writes that the opposition to the federal government’s $30 billion external billion borrowing plan may not be because of Nigeria’s inability to repay but the fear of mismanagement of the funds The federal government’s determination to develop the nation’s infrastructure is not in doubt considering the fact that improved infrastructure will have massive impact on the growth of the economy. One of the factors responsible for the poor performance of the economy is the decayed infrastructure, ranging from roads, power and other public utilities.

This is why the federal government is working to ensure that the state of the infrastructure is improved to aid economic growth.

However, given the low revenue coming from oil, the government has decided to borrow to executive its development programmes, especially infrastructure in various parts of the country.

This objective made President Muhammadu Buhari to send a proposal to the National Assembly to borrow $29.96 billion, which is over N9trillion. This is the largest external loan in Nigeria’s history. The borrowing comprises projects and programmes loan of $11.274 billion; special national infrastructure projects $10.686 billion, Euro bonds of $4.5 billion and federal government budget support of $3.5 billion.

Purpose for borrowing Explaining how the government intends to source the $29.96 billion loan, the Minister of Finance, Kemi Adeosun said the money would come from World Bank, African Development Bank, Japan International Co-operation Agency among other financial institutions.

According to her, getting the loan from these institutions would make it less expensive for the government.

The government intends to use $25.8 billion for projects in health, agriculture, water supply, education, growth and employment generation, while the states would have $4.1billion of the fund for their development activities.

Some of the development projects with which the loans will be funded include the Mambila Hydro Electric Power Project expected to gulp $4.8billion. The Abuja Mass Rail Transit project will use $1.6billion, while $3.5 billion is earmarked for the completion of the Railway Modernisation Coastal Project from Calabar to Port Harcourt-Onne Deep Sea Port segment.

Similarly, about $2.4 billion will be for the Lagos-Kano Railway Modernisation project and the Lagos-Ibadan; Kano-Kaduna segments which have sizable portions slated for their execution.

The government has noted that huge external borrowing is favourable considering the current economic recession. It is expected that huge spending on infrastructure would stimulate growth and take the economy out of recession.

Adeosun said the plan to borrow externally was in line with government’s strategy to focus on concessional debts, low cost loans particularly from multi-lateral agencies , noting that the loans would be applied to develop strategic sectors which government believed would help revive the economy.

She said the power sector would receive a significant amount of the loan to take care of projects militating against efficient power generation.

“The largest beneficiary of our borrowing is agriculture because it is equally strategic and we have programmes by the minister some of which he inherited and is going to restructure and reform and some are new to the ministry.

There are too many of us to keep on relying on oil. We can all see what happened at the output data of the oil and gas sector. What’s happening in the Niger Delta has dragged down the GDP of the entire economy. We’re too dependent on oil. We have to invest in capital projects,” Adeosun said.

Supporting borrowing by the government, an economist and Managing Director of Financial Derivatives Company Limited, Mr. Bismarck Rewane had said for the federal government to overcome the economic recession, it must borrow and sell assets to raise funds that would be injected into the economy.

Kemi Adesun

According to him, since there is a fall in oil revenue, the government has to increase the deficit plan.

“The government must inject into the system and the executive is fully engaged because they kwon they cannot hide they have to deal with the problem. And given the fall in oil revenue, you have to increase the deficit plan for the recovery. You must borrow and President Muhammadu Buhari has said we will borrow at least $5 billion externally. We must sell some assets because when you are in this kind of situation, you have to sell some assets,” Rewane said.

National Assembly kicks While President Buhari was optimistic that getting the funds would go a long in helping to executive various development projects, the National Assembly rejected the proposal on technical grounds. According to the lawmakers, the borrowing plan was not part of the 2016 to 2018 Medium Term Expenditure Framework (MTEF) and Fiscal Strategy Paper (FSP) which had not been considered nor passed.

The lawmakers noted that they could not then approve the loan, which was part of the MTEF, which was yet to be considered. They added that the request was not submitted with the attached breakdown of the proposed expenditure for which the loan was sought.

Although why it is not be difficult for the government to raise the funds, there are apprehensions that like the past experiences, the borrowing could be used to finance the ostentatious living of some corrupt government officials.

For instance, an economic analyst at Ernst & Young, Mr. Bisi Sanda said the government needed to carry out reforms of its financial management system before embarking on such a borrowing.

“Borrowing, in principle, is not wrong. But if you are using it to finance the corruption or ostentatious lifestyle of public officials, then there is a problem. It has been said some time ago that Nigerians only get 45 per cent value from all government expenditure. This is unlike in the USA where the people get 100 per cent value.

“Our public financial management must be transformed first. Seventy per cent of the budget in Nigeria goes on recurrent expenditure.

Nwankwo

What about the budget padding allegation and the huge bill of the legislature? We need to address the public financial management system, otherwise, we will find ourselves in the debt trap and leave huge debts for coming generations,” he was quoted as saying.

Project specific borrowing Financial experts said what government needs to do is to tie the borrowing to specific projects so that they can repay themselves.

The Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu, said there was nothing wrong with borrowing, but the government must specify the projects the money so raised would be used for.

“We need to tie this borrowing to specific infrastructural projects we know of in the country. We should say this rail line or highway will be financed with such an amount from the borrowing. This money must be tied to specific projects,” he said.

Also, Rewane said: “I agree with borrowing, but it must be tied to specific projects. The amount is a huge amount. That is about 140 per cent of our current external reserves. It is almost double the amount of the current external debt of the country. We need to know specific projects that the money will be used for. Until we know that, I can’t say it is a right step in the right direction.”

Debt Sustainability There have been criticisms by some stakeholders on the level of the country’s debts in recent times, some other stakeholders said once the loans are for capital expenditure and productive purposes, they would be sustainable.

Besides, the Director General of Debt Management Office (DMO), Dr. Abraham Nwankwo had emphasised that at below 20 per cent debt-to-gross domestic ratio, Nigeria is very much still in the comfort zone to borrow more.

Similarly, an economist, Mr. Odlim Enwegbara, said Nigerian can still borrow for productive purposes. Comparing the debt-to-GDP ratio of some countries, Enwegbara said Japan’s stands at 224 per cent; Italy’s at 128.50 per cent; the United States at 107 per cent; France’s at 95 per cent; the United Kingdom’s at 89.80 per cent; South Africa 44 per cent; India’s 66 per cent; Brazil’s 60.8 per cent; Kenya’s 50 per cent; Ghana’s 67.50 per cent.

“With Nigeria at 17 per cent, the country has the opportunity to raise funds that are projects specific to fast-track the infrastructural development of the nation,” Enwegbara.

Calls for support As Nigerians await the expected approval of the proposed borrowing, Nwakwo has urged Nigerians to support the federal government’s efforts aimed at getting the country out of recession.

According to him, the task of getting the country out of the present economic challenges remains the responsibility of all, noting that the measures taken so far by the federal government to ensure that the country’s economy becomes sustainable, would be fruitful.

He said that there was no reason to despair, explaining that the authorities were exploring other regenerative areas that abound in the country as part of measures aimed at strengthening the economy.

“Indeed, I am emphasising that what we are supposed to be focusing on is being able to establish the minimum amount of resources we need to get out of the woods. Let us put our thinking together and identify the needed resources from the most appealing and attractive sources,” Nwankwo said.

He added: “Our focus is on raising revenue in a way that we will use our resources to solve our problems. The focus for all us is to do whatever we can do to set ourselves on the path of sustainable growth. That path entails that we will diversify our economy in such a way that we have several sources of foreign exchange. That should be one of the indicators.”

Nwankwo stressed that if Nigerians replace as many as the things they import, they should be able to establish a sense of sustainability in terms of economic recovery.

Nwankwo noted that while the challenges are enormous, the means to get to sustainable growth are abundantly available.

“For a country that has been used to high growth in the past 10 years and an economy that has a relatively steady source of revenue which has largely influenced our consumption and investment on social programmes to collapse drastically due to the fall in the price of oil, it puts a greater burden on competent management of resources,” the DMO boss said.

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INTERVIEW

Sogunle: The Future of Banking is Actually Mobile Deputy Chief Executive Office Stanbic IBTC, Dr. Demola Sogunle, in an exclusive interview with Nume Ekeghe on the sideline of the launch of the bank’s digital branch in Lagos, spoke on pressing economic issues as well as the bank’s bid to champion digital and mobile banking. Excerpts: What has been discovered is that all the country dependent on commodity has been affected irrespective of the FX regime they were practicing. We saw that the same thing happened to Russia, Angola, Brazil and Venezuela just name all those countries. So because the price of crude oil internationally had dropped significantly from above $100 per barrel at a point it went as low as twenty something dollars per barrel that is the major problem

Sogunle

Can you tell us about the new digital branch that was unveiled by Stanbic IBTC and what prompted the bank to embark on this initiative?

This is our very first fully digital branch and for us in Stanbic IBTC, this is the beginning of a new phase when it comes to customer interface, channels and access to products and services.

For us in the banking industry, we believe the days of brick and mortar is over and the future of banking is actually mobile. And the idea is for our customers to be able to bank on the go, paperless environment, self-service and if you bear in mind the fact that almost 80 million Nigerians are on the internet, we believe that we should be able to key into that in terms of the provision of banking and services to them. So for us, this is the first and amongst so many of this type of digital branches we are going to roll out.

What distinguishes this digital branch from any other E-branch?

It is a fully digital branch. You come in, and it is a paperless environment, self-service and it speaks completely 100 per cent to the aspirations of the millennia’s. So whatever you want to do, you come in and you go to any of the point and you are able to either pay, collect cash or make enquires everything is available for you. There is very little interface with human beings. When it comes to access to internet products and services, millennia are very conversant with everything that has to do with self-service and internet access. So we believe that we are plugging in into the future and that is one of the reasons why we are starting this journey.

What is your bank doing in trying to attract the unbanked population?

The unbanked population is journey because

don’t forget one of the cheapest ways of actually reaching the unbanked is also going through mobile devices. Even though you have got 90 million unbanked, the important thing is the fact that we have more Nigerians with SIM cards and mobile phones. The idea is that what we are trying to do with mobile and internet banking is faster easier and cheaper for us to bring the unbanked into the banking system.

We cannot do it by brick and mortar. We cannot do it by trying to open branches in every part of the country. But the moment we go on the internet and mobile banking, it is very easy for the customer to deliver through our products and services. It is very easy for us to do and we would continue to push that to reach the unbanked population.

Most banks have been having challenges as a result of the challenges in the economy, how has Stanbic IBTC been able to cope through this period?

To be quite frank, there are challenges every year and I do not want to underestimate the challenges of the broader economy or the financial system has faced this year. The important thing is that we are always ready and prepared to weather through those challenges. We are here to deliver services to our customers for the long haul and we are ready to go through all these challenges to fulfill our obligations and responsibilities to all stakeholders. So challenges are there and they are always there every time but we have had to maul through in order to fulfill our obligation and responsibilities to all our customers, shareholders, staff members and the communities within which we operate to fulfill all our obligations to them in spite of all the challenges Stanbic IBTC has a large customer base of multinationals, and presently there are

a lot of currency issues. How has the bank being coping with these?

Well we continue to try our best. You are right; FX is a major issue within the system, within the economy presently. And we are talking about FX liquidity not being adequate and even the value of FX that is available is not sufficient but we have tried our best. We have got other sources of FX and we are tapping into that in spite of what is happening given the fact that we have the biggest custody business when it comes to Stanbic IBTC nominee, custody business for foreign investors so we tend to see most of the FX flows. Our global market is also very strong so in terms of trading FX we have also got our parent company. We have had to combine all these to ensure that we are able to continue to provide something that is very scarce but something that is very important to all our customers. And we continue to do that and that is why I mentioned earlier in spite of all the challenges, we have got commitment and we are trying our best to continue to fulfill these commitment to our customers given the FX liquidity challenges.

What do you think is the best way to fix the foreign exchange challenges in the country?

We discussed this at the banker’s committee retreat recently. The FX regime is not the key thing - floating, fixed or flexible. What has been discovered is that all the country dependent on commodity has been affected irrespective of the FX regime they were practicing. We saw that the same thing happened to Russia, Angola, Brazil and Venezuela just name all those countries. So because the price of crude oil internationally had dropped significantly from above $100 per barrel at a point it went as low as twenty something dollars per barrel that is the major problem. So it has to do with the availability

of foreign exchange for the country and the central bank has to find a way to manage it right. But the important thing is that every country that depends on commodity as a major source of foreign earning has been impacted.

Don’t forget Nigeria depends on this between 80% - 85% on crude oil. So this is something that the central bank would continue to manage and find a right balance. So there is always room for improvement. Don’t forget Nigeria has already devalued the currency by almost 55% to 60%so it has to be managed to the extent that there is cash. There must be a fine way to manage it not to stay at one extreme or the other extreme. One extreme is to have a fixed rate; the other extreme is to have a completely floating rate. Between those two extremes you have a managed FX regime and that is the central bank is trying to do.

You newly upgraded your mobile app recently, can you tell us a bit about it and the safety tools attached to this App? It is one of those products or services we had to put out there and we had to go through a lot of co-creation processes. So our customers and other stakeholders contributed significantly in the new mobile app. So everything that has to do with security, everything that has to do with encrypting and ensuring that it is safe has already been incorporated and we have no doubt. It is a fantastic product that we have put out there. Everyone who has used it have come back to commend the app. Given what have put into this app, we just didn’t put an app out there; it was co-created with all key customers.

Everyone contributed significantly in what we are seeing now. We are really happy about our new mobile app and I would encourage everyone to try it.

Going forward, what should we expect from Stanbic IBTC? Look out for much more in this digital and mobile space and the banking of the future. We want to be at the cutting edge of application of technology. We want to be at the cutting edge of digitalising the whole process of banking. And the idea is that we have just made one milestone, please look out for more because I don’t want to let the cat out of the bag. At every point in time, we would continue to improve, continue to extent our services to the key customers that we are looking at.

30

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

BUSINESSWORLD

INSURANCE

Annuity Business: The Bone of Contention Between Life Insurers and PFAs The cold war between Pension Fund Administrators and Life Insurance operators over the years on the annuity business has taken a turn for the worse, following a recent directive by the National Pension Commission to life insurance underwriters to within three months surrender N145.05 billion of the annuity assets in their custody to Pension Fund Custodians. Ebere Nwoji reports A recent directive by the National Pension Commission ( PenCom), to life insurance underwriters, requiring them to transfer annuity assets of retirees under their custody to Pension Fund Custodians ( PFCs), has caused serious tension in the insurance industry.

Indeed, the development, in which PenCom further ordered Life Insurance underwriters to stop annuity business for three months and within the period, transfer their annuity assets to the PFCs, has set battle stage between insurance managers and pension fund operators. The situation is gradually affecting the relationship between their regulators - the National Insurance Commission (NAICOM) and National Pension Commission (PenCom), despite that NAICOM sits in the board of PenCom. A close watch at their mood towards each other now shows that there is cold war between the two agencies on account of the annuity business.

The law establishing the Contributory Pension Scheme (CPS) gives retirees the option to choose between buying an annuity with part of their pension savings from a life insurance company after retirement or take programmed withdrawal of the pension savings with a PFA. While annuity fund is in the custody of life insurance underwriters, programme withdrawal asset is with PFAs who transfer the same to Pension Fund Custodians (PFCs) for investments.

By definition, an annuity is a contract between an investor and a third party (usually an insurance company) whereby in exchange for making a lump sum payment, the insurance company promises to do the following: Provide an income for a certain period of time, or for life, Provide for accumulation, or asset growth, Provide a death benefit and Provide for long term care benefits.

This could be in form of Fixed or Variable annuity.

In the ongoing controversy between PFAs and insurers, over the annuity business, while PenCom said the decision to move annuity assets from life insurers to PFCs is to ensure consistency with Pension Reform Act (PRA) 2014 and strengthen the processing of administration of retirement benefits, insurers said it is a form of de-marketing force and that is detrimental to their operations. They have therefore vowed to battle it out to the end.

PenCom, had early in November, issued a circular titled: ‘Strengthening the Administration of Retirement Benefits under the Pension Reform Act (PRA) 2014, with reference number PENCOM/ INSP/CIR/TECH/16/17.

The commission in the circular signed by its Head Surveillance Department, Muhammad Umar and issued to pension fund administrators and Custodians stated that in line with the PRA 2014, it has resolved that the custody of retiree life annuity shall henceforth, be domiciled with PFCs as provided for in Section 56 of the pension act.

It therefore mandated all life insurance companies currently providing life annuity for retirees under the Contributory Pension Scheme (CPS) to open an operational account jointly with a PFC of their choice and advice the commission.

It maintained that all life insurance companies currently providing retiree life annuity under the CPS should transfer the corresponding assets in their possession/custody to the PFC of their choice.

The commission also noted that the approval of new request for annuity should be put on hold with immediate effect, until life insurance companies meet the custody and transfer conditions.

PenCom, said life insurance companies are required to open an account with the custodian of their choice and also execute custodial service agreement that shall state the terms and conditions of the contract between the parties.

The commission in the circular, gave address of a link that detailed the documentation and procedure of the transfer which in the view of insurers, is not to their favour.

PenCom DG, Chinelo Anohu-Amazu

The detailed documentation and procedure of the transfer in the view of the insurers is indirect way of taking the annuity business from them.

The insurers in their interpretation of PenCom’s action said it was based on envy and jealousy as it has become obvious that many retirees and workers now prefer annuity system of retirement benefit payment to programme withdrawal system.

As provided in the Pension Reform Act 2004 repealed in 2014, while programme withdrawal pays a retiree for 18 years, annuity pays for life hence people’s preference to it.

At the onset of Contributory Pension Scheme, perhaps due to lack of proper understanding and guidance, more people settled for programme withdrawal. With the result that year in year out, comparison of assets accruing from the two and number of registered retirees shows that over the years, programme withdrawal has always been on top.

For instance, as at March 2016, retirees under Programmed Withdrawal (PW) stood at 132,405 and annuity 29,620.

Also statistics released by PenCom for 2015 showed that the total number of retirees on Programme withdrawal increased from 126,775 in the fourth quarter, 2015 to 132,405 in the first quarter 2016.The 5630 increase represented 4.44 per cent from the figure recorded in the previous quarter. It noted that a sectoral breakdown of those retired under the Programme withdrawal showed that the public sector accounted for 71.74 per cent (4,039) of the total retirees on Programme withdrawal during the quarter, while the private sector recorded 28.28 per cent totaling 1,591 retirees.

PenCom noted that the lump sum withdrawals within the quarter stood at N12.63 billion, which cumulatively amounted to N329.38 billion from inception. It said an average of N4.36 billion was paid monthly to the retirees of the scheme as monthly payment under programme withdrawal as at the end of the reporting period.

The commission said it approved a total of 3,288 applications for annuity retirement plan during the quarter, bringing the total number of retirees receiving their retirement benefits through annuity plan to 29,620.

PenCom maintained that the 3,288 retirees received N3.96 billion as lump sum payment and paid annuity premium of N15.44 billion cumulating to a total of N41.85 billion and N145.05 billion as lump sum payment and annuity premium respectively.

The retirees, it said were receiving average monthly annuity of N1.51 billion as at the end

of March 2016.

But in recent times, there is drastic change in the system as more and more people are on daily basis migrating from programme withdrawal to annuity plan,a situation which has set pension Fund managers jittery.

For instance, at a recent end of the year party held for annuitants of Leadway Assurance in Lagos, most retirees who spoke to THISDAY on their choice between programme withdrawal and annuity said they now prefer annuity.

Some said they were initially in programme withdrawal but have now migrated to annuity because of wider knowledge and proper understanding of numerous benefits in annuity plan.

Mr. Lawrence Irewole, a retired police officer having annuity account with Leadway life Assurance said he was advised by his friends to migrate from programme withdrawal to annuity plan.

He said initially, he did not want to do it but that when he was educated on the benefits of annuity, he has to migrate.

Also Mrs. Olasupo Adeyola who retired from Africa Reinsurance Corporation,said she will ever remain grateful to the corporation and his Leadway Insurance for guidance and direction.

She said she has annuity plan and has no regret being into annuity and will remain there.

She said no regulator should tamper with annuity adding that it is beautiful plan that helps retirees. She said initially, she was a bit skeptical but that it has been so good as payment comes on 12th of every month and that there is hoped it will continue throughout her life time.

She said she has decided to remain in annuity plan because she believes God she will live long and with her annuity plan, Leadway will keep on paying her.

She said she will always advise people to go for annuity because it is beneficial, it is faster therefore no government or regulator should force any one to leave annuity.

Apparently, one of the benefits of annuity, which attracts retirees to it is that the lump sum in a retiree’s Annuity account can be used as collateral to obtain loan from banks .This and the fact that annuity payment is for life gave boost to the plan and is attracting more retirees to insurers.

Observers of the two industries, said with the rate at which people are migrating from programme withdrawal to annuity, there is fear that in the next five years, if nothing is done, most PFAs would have lost most of their clients.

On their part, the PFAs seem to be sad that the monopoly they have been enjoying since

the advent of contributory pension scheme in 2004 is suddenly being broken since insurance underwriters went into intensive marketing of their annuity plan and retirees are getting to understand the benefit they have in annuity. indeed, with full entrance of life insurers into the annuity business since 2010, the PFAs are worried that their income from where they pay one percent returns to the regulator is going and their regulator seems to have kept quiet.

To discourage people from taking annuity in place of programme withdrawal, the PFAs have leveled a good number of allegations against life insurance firms.

The PFAs often accuse life insurers of making bogus promises they cannot fulfill.

They alleged that insurers fail to understand that pensioners’ money is not like insurance premium that can be diverted and disappear without accountability and allowed to just go like that if risk did not occur.

The PFAs, at a joint seminar on annuity and programme withdraw retirement benefit pay held in Lagos two years ago, stated openly that insurers are not and cannot be the best managers and custodians of pension funds through annuity.

Though the two regulators tried to reconcile them, operators of the two sectors have not been best friends.

On their part, insurers claim they even understand the pension business through annuity plan better than PFAs. They see the act that gave them the legal right to sell annuity as opportunity to recover their market share of pension fund after the Pension act of 2004 took away pension savings from insurance.

With their usual zealousness and untiring effort in insurance marketing, they pursue vigorously the marketing of the annuity plan to Nigerians and today, their effort is yielding result.

This is quite unlike the PFAs who have since inception been enjoying monopoly given to them by the law,as before the commencement of annuity business, pensioners’ money go to PFAs at will as the law compels employers to deduct the money and remit to PFAs without any marketing efforts.

With the ongoing tussle, industry watchers are afraid that the retirees, whose money they manage may be at the receiving end of the situation.

Already, they are at the receiving end because the rate of unhealthy competition and de-marketing goi g on between the two sub sectors is enough to throw the retirees into confusion and indecision on which way to go.

But Mr. Tinashe Muyambo, General Manager, Leadway Life Assurance, said he is happy that the two regulators are working on the issue.

He advised both PenCom and NAICOM to ensure they take a rational decision on the circular to come up with resolution that will work for the two industries.

He said Leadway has resolved to hold unto and be committed in fulfilling all the promises it gave to its retirees.

According to him, Leadway Life, has between 15000 to 20,000 annuitants under its management and pays close to N1 billion to them every month.

He said the company, will continue to do this because of its understanding of importance of annuity fund in every economy.

“Annuity, is an important business, economist said it is the backbone of an economy because it is savings put back to economy to generate income used and given back to the annuitants.

He said understanding the importance of annuity, Leadway has assembled professionals and actuaries from across the globe to help it understand its liabilities and investments in annuity business.

31

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

BUSINESSWORLD

PERSPECTIVE

How to Stay Afloat in an Economic Storm In this article, the Chairman, Petroleum Technology Association of Nigeria, Bank Anthony Okoroafor proffers ways to overcome the recession as it generates the revenue that drives businesses and with the price falling, “we have to re-evaluate our priorities”.

We should as a matter of urgency review our fiscal terms to maintain attractiveness and investment. Investment goes to friendly environments.

We can loose all the local content progress made in creating more Nigerian service companies, vessel ownership, fabrications, rig ownership, pipe coating, logging companies, pipe laying companies, waste handling companies, well testing, well head, seismic companies, gyro companies, rov companies, training companies, E &P companies, but more needs to be done.

Our desire to have strong Nigerian EPC leaders, Nigerian owned vessels transporting Nigerian crude would be a mirage if the low price environment continues.

High Funding Cost. High interest rate on facilities from the banks, Poor funding/financing of projects, Tightened access to Capital, Banks are no longer lending, there is tightened access to capital with decreasing cash flows, highly leveraged companies will struggle as lenders and investors tighten access to capital, limiting their ability to continue exploration and developmental activities. Low industry Activity, since there are no new projects or projects are deferred or canceled, Activity level is at the lowest. Projects have been deferred or cancelled. Service industries that have built capacities and capabilities are laying-off well trained personnel, Rig count is very low; well intervention and well completion activities are down to zero level. Unable to pay salaries – Lose Capacities already built, Irregular and delayed Payment systems. Unable to work because of security challenges.

As we reach the end of 2016, we have some good news and some bad news in our local content advocacy to save our country and get more of our people employed and increase the GDP in Nigeria while creating more sustainable Nigerian entrepreneurs.

The good news includes The Minister of Petroleum, Dr. Ibe Kachiukwu and the NNPC GMD, Dr. Maikantu Baru’s solid commitment to grow Nigerian local content to 70%; the GMD’s support of PETAN’s resolve to Leverage proven Nigerian companies, with a strong resolve that capacity building in country cannot be compromised; the Minister and GMD’s commitment not to sacrifice local content on the altar of loans from China and India. The GMD’s speech on PETAN annual dinner was a morale booster to the Oil & Gas service industry that issues holding the industry back are being worked on. The IJV structure to be in place to replace the issues from cash call debacle; activity level to improve considerably; the ministers 7 Big wins and the draft oil and gas Policy; at last, the signing of agreements on JV cash calls exit with international oil companies by minister; Good sign from NCDMB new ES that it will no longer be business as usual; Proper processes to be set up for NCF use to build capacities where gaps exist; Leverage the funds to drive the change needed in NORGIC ACT; Fight senseless monopoly, Ensure the process creates value, reduces cost and allow Nigerian companies to grow and unleash their full potentials. Aggressive frontier exploration. The successful amendment of the NORGIC Act by the House of Representatives under the leadership of Emma Ekon committee, now waiting for concurrence from the Senate and then signature of the president. The essence of the amendment was to address the inadequacies of the Norgic act. The strong move by the senate under the leadership of Bukola Saraki and Tayo Alasoadura, and their team to pass the PIBG – first phase of PIB that has eluded all the senate for the past 10 years. Shell launching of $1,765B, and N129B with 8 Nigerian banks to guarantee PO’s given by shell for Local contractors. GMD’s commitment to include Nigerian Companies in Crude Lifting contracts effective Jan 2017 by streamlining the process that makes it difficult for local Nigerian Companies to participate.

GMD’s commitment to ring-fence exploration budgets. This is commendable and the only way we can grow our reserves that are falling at an alarming rate.

The bad news are Activity level still very low, the lowest rig count ever. Companies are dying; no news on the new marginal fields rounds; exploration still very low. Also, EPCI contracts is still being controlled by international companies; insecurity of life and assets still taking place. Also companies are still owing service contractors; no sanctity of contracts; vandalism of pipelines still taking place, volatility and scarcity of foreign exchange still in place.

In present-day Nigeria, oil accounts for 95% of foreign exchange earnings and 75% of government revenue for Nigeria. The implication of extended low oil price for a Nigerian economy which runs mainly on a single commodity is dire and we foresee a lot of challenges in our local content compliance. This environment creates high risks. If $50/bbl. becomes the new normal, countries like Nigeria with large populations, low reserves and an over dependence on oil could become severely stressed. These are interesting times because the mono-product that Nigeria’s finances hang on is being threatened These have several consequences to local content compliance.

Our industry was too cost – careless in years of boom 2010 – 2014, there were unnecessary acquisitions and wasteful lifestyles, aging facilities, matured fields, weakened governance, huge leakages, expertise and technology innovation relegated, unwholesome cost indiscipline and unintended consequences of +$100/bbl. oil. The huge revenue we have earned from oil and gas and a simultaneous lack of investment in

Okoroafor

infrastructure and sustainable projects remain a challenge for Nigeria.

The hallmarks of today’s business environment are Depleting Crude Reserves, Declining JV reserves. In 2013, JV reserves has declined by 15% whereas PSC reserves grew by 9%, High per bbl. production Cost, JV production (technical) cost has increased from sub $10/ bbl. to $27/bbl. in 2014, JV production decline 62% within a ten year period, This does not encourage capital projects and erodes revenue from production. Security Challenges, North East, Niger Delta, Pipeline Vandalization, Militancy is development in reverse. It damages the country, reduces growth, kills people, Conflict generates territory outside the control of a recognised government. Funding Challenges, Inability to meet cash call obligations, huge budget deficits, income – Currency anomaly. Low Industry Activity, No new capex projects in sight, Projects deferred or cancelled, Over 400,000 direct and indirect job cuts, Companies are unable to meet loan payments – Asset capacity acquired are endangered. Uncertainty of Fiscal Framework, Non passage of PIB, Exchange Rate Volatility, 95% of Foreign Exchange Earnings are tied to oil and with shortened revenues in dollars terms, the Naira will be under continuous pressure.

Despite devaluation, Nigeria will earn less revenue from oil and gas exports and imports of household items will be more expensive, with the burden passed on to Nigerians. Savings Stagnation, Extended Low oil prices mean that Nigeria might not be able to add additional revenue due to pressure from States who also run high recurrent expenditure. It might also be difficult for the FG to save funds in the Sovereign Wealth Fund, considering the austerity measures of the times. Accretion to the External reserves is also expected to slow down

with falling crude prices. Debt Spiking, Debt servicing will possibly rise, especially foreign debts and Nigeria will need more funds to cover the budget deficit (difference between accrued revenue and expenditure). With stagnated Excess Crude Account savings, raising debts is the glaring alternative. The haste to spend on recurrent items will remain, as they are fixed charges, unless drastic reforms such as downsizing personnel and sharp cut in overhead costs. Capital Expenditure under threat, Capital Expenditure performance might be threatened by lower oil prices as government strives to keep its deficit within the limits of the Fiscal Responsibility Act whilst ensuring it meets its day-to-day obligations. Employment, with cuts to government expenditure due to falling oil prices, the number of new jobs will actually continue on a decline. Depleting External Reserve.

Impact on Companies The participation of local firms in the Nigerian oil and gas industry have fallen significantly as the slump in global crude oil prices left many of them without contracts.

The sharp drop in prices has forced oil companies, including the big ones, to cut capital expenditure budgets, lay off employees and suspend some projects. The Local Content Act, directly affects operating companies, contractors, sub-contractors and service providers, seeks to increase indigenous participation in the oil and gas industry by prescribing minimum thresholds for the use of local services and materials to promote the employment of Nigerian staff in the industry. But the current low oil price environment has made many International Oil Companies (IOCs) to suspend many projects, leading to low activities in the sector. Experts said that the price of oil is critically important

How Can We Survive To survive in this extended low price environment, we really need new ways of working – Values, Attitudes, Practice and Priorities. Strategic Alliances, Collaboration and Consortia, These adds value and creates opportunities. It expands the pie and creates sustainable long-term value (asset acquisition, capacity development, supply chains, resource optimisation). Exploiting synergies, sharing risks, leveraging togetherness, Operational Excellence, Capacity Utilization, Process Improvements, Standardized engineering. New profitability Philosophies, Cost discipline, Values rather than volumes, prudent lifestyles. Mergers and Acquisitions. Capital management, Improving structures, Spending cuts, Staff Cuts. New business models, Collaborate, Integrate, Consolidate, We cannot all have fabrication yards; we can collaborate with those that have fabrication yards and increase its utilization. More attractive fiscal terms needed now, With different places competing for low investments in a low oil price regime, it is imperative that we create a more competitive fiscal terms to make our country more attractive to investors, Pass the Right Petroleum Industry Bill which favours transparency in mining leases and licenses, taxes, royalties and respect for institutional procedures, Maximize returns from gas, with large scale investment In infrastructure and also end gas flaring, Build a multi-stakeholder security system to stop crude oil theft as this secures production volume and vandalization, Ensure that Marginal Oil Fields are given to credible people and institutions with goals to mine it for the broader benefit of the society, Take a bullish attempt to reform NNPC with more transparency in its presentation of oil revenues to the public, Resolve the challenge of opacity in beneficial ownership, with clear definition of patrons of Nigeria’s oil and gas industry As we come to the end of 2016 with the attendant drop in oil price and activity in our industry, we ask all our service contractors and operators to hang-in there for there will be light from the other side of the tunnel. On this note, I wish you all in our industry a merry Christmas and a more prosperous 2017.

32

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

EDUCATION Corporal Punishment: Active School Disciplinary Committee a Better Option Corporal punishment in schools is perceived to correct certain negative habits in unruly students however experts suggest the setting up of an active disciplinary committee to include a trained school counsellor and getting the right balance in enforcing discipline on students, rather than taking extreme measures that could do more harm than good. Funmi Ogundare and Esther Akintade write

Corporal punishment

Miss Mary Adeleke, 13, has been fighting sickle-cell anaemia since childhood, but as she grew up she no longer had to frequent the hospital as she used to because her mother who is a nurse had to manage the crises for her, so anyone who saw her wouldn’t suspect she was a victim. Being an only child, her parents avoided punishing her or even flogging her. They also made it clear to her teachers that she must not be flogged or punished as instructed by the doctor. This was followed until a new teacher, Mrs. Ann Akpan (not real name) was recruited to teach in her school.

Being a disciplinarian, she wouldn’t accept any bad behavior from the students.

Unfortunately for Mary she was punished along with some of her classmates for unruly behaviour, she fainted due to the pressure from the punishment and was rushed to the hospital. Days later, she was confirmed dead and this landed Akpan in prison.

Master Daniel Adewale, 7, was in class one day reading a book quietly when his class teacher punished the whole class for noise making. He then began to complain that he did nothing wrong to be punished alongside his other classmates. The teacher became furious at this and, taking a cane, she began flogging him all over his body leaving red bloody marks. Meanwhile the school had made a rule that on no condition must a teacher flog a pupil. When Daniel got home that day and narrated the incident in school to his mother, she had to follow him to the school the following day to see the proprietress. The teacher was invited to her office to narrate her side of the story, but rather than narrate her own part, she betrayed her emotions and began to cry. She was sacked thereafter.

These two scenarios reflect the happenings in schools today. However, different people have different reasons for applying corporal punish on students. While some believe punishing or flogging a child will make him more responsible and strong enough to take responsibilities, others think that punishing a child will guide him from making further mistakes.

A secondary school teacher identified as Mr. Sunday Adeshina was reported to have landed in Kirikiri prison after flogging a senior secondary three student, Miss Oyinye

Nwakaeme, 14, who was asked to answer a question in the class, but was not paying attention. She was flogged to the point that she started bleeding on her head.

Corporal punishment in school is said to be a disciplinary action that is physical in nature and delivered by teachers or school administrators as punishment for some types of student misbehavior. Examples of corporal punishment include: spanking (usually with an object such as a paddle or stick), slapping (on the face or hands is most common) and pinching (anywhere on the body).

However, corporal punishment might be applied in the classroom in front of other students or privately in the principal’s office. Though some abhor the use of corporal punishment in schools, there are still many people who believe that corporal punishment has a rightful place in the education system.

A parent, Mr. Emeka Ifeanyi sees corporal punishment as an important aspect of life, saying that it aids correction, discipline and home training. “Though this is common among those in the western world, this is why most children who come from homes where corporal punishment is often applied are always disciplined.”

The proprietor of a private school in Lagos explained that corporal punishment should be seen as a necessity since students from diverse tribes, background, race and religion are coming together under one umbrella with different characters which need to be controlled.

The school owner argued that there are some high income schools that do not apply the punishment on students for a number of reasons like illness, asthma, autism, and sickle cell, adding that some parents don’t flog because they too had experienced child abuse at a young age and decided to spare their children the trauma.

“These kinds of parents enroll their children in schools that treat them like royalty. Punishing a child no matter how big or small is beneficial to their lives for if you spare the rod, you will spoil the child and if you spoil the child, you spoil his future.”

She advised that parents should adopt the habit of punishing their wards no matter how little their offense is.

The Proprietress of Motenna Private School, Lagos, Mrs. Chioma Nwonzo, said her school

does not believe in scolding children when they disobey, adding that it might result in unforeseen incidents that may cause the image of the school to be tarnished in one way or the other.

“In moderation, rather than flogging our students, we adopt a way of reporting the daily behavior of our students, for some could be punished and go and tell their parents that they committed no offence but was punished.”

She said a communication book is also available to monitor the daily behavior of students, adding that the teacher’s duty is to tick one daily behavior so that the parents could mete out the right punishments.

A teacher, Mr. Uche Johnson said he loves disciplining children whenever they disobey but not to the point where they will get injured, adding that gone are the days when a teacher will flog a student and his parents will thank the teacher even with a gift.

He advised school owners to make it clear to teachers even before employing them that they should not be very aggressive while punishing a child.

“Any punishment that will show physical marks on the skin or draw blood or any punishment that affects the child and makes him/her completely distressed physically or emotionally should be avoided. School authorities should learn the difference between discipline and torture.”

An educator, Mrs. Kikelomo Olawuni, stressed that parents and teachers need to find the right balance in enforcing discipline on children, saying that this is significant especially in a religious, multi-ethnic and traditional society like Nigeria, where many believe that the best way to discipline a child is through physical punishment.

She further explained that the major causes of teachers being brutal is centered around four factors: a harsh culture that imposes such views that a child has to be battered as a way of moulding him or her into a fine character; social-economic pressure on teachers which compel them to transfer aggression on innocent children; and the culture of impunity, especially in public schools where teachers feel they can get away with such.

“The parents of such children are most likely poor, have little or no education or are not aware of their children’s rights. When you

tell some parents that you want to flog their children as a form of discipline, they tell the teachers to flog the child well. They would quote the bible that they don’t spare the rod and spoil the child, but when the teacher flogs them to an extreme it becomes a problem.”

A teacher at Anthony Village Senior High School, Lagos, Miss Moyo Lasisi, argued that corporal punishment is often misused/ misinterpreted by most teachers and parents in the society.

“The challenge is that we are adopting western culture into our system which is not working for our society. For instance a student that disobeys in the UK/USA will be asked to either sweep the streets or work as a public servant for a short time which will enable him/ her to have a rethink or change of heart about negative behaviour.

“It is against the European laws to spank or slap a child, but in the African settings, it is part of our culture and tradition. It is not necessarily to cause pain when given, but for the child to have a positive attitude and character.”

Rather than prohibit corporal punishment like some schools do, she said it should be replaced with certain measures of discipline in order to curb moral decadence already infiltrating the society.

“Even the Holy Bible states that, ‘evil is in the heart of the child and with the rod, one drives it out’. The older a child gets, the more exposed he is to the society to learn/imbibe behaviors that can either be good or bad.”

She added that if a child recognises at an early age that he/she will be punished for certain negative behaviours because of the feeling of discomfort attached to it, such negative behaviours will be curbed early.

Lasisi affirmed that African culture demands respect, obedience and less expression of children’s ideas or thoughts which is in contrast to European culture.

She suggested the setting up of an active disciplinary committee in schools which should always include a trained school counsellor who can always be objective about the measures to be meted out to the students according to the bad behaviour such as truancy, stealing, lying, not doing assignments or disobeying school rules and regulations, among others.

33

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

EDUCATION

Don Wants Geography Compulsory at Primary, Secondary Levels Funmi Ogundare

A Professor of Geography and Dean, Faculty of Social Sciences, Lagos State University (LASU), Ayo Omotayo, has called on the government to adopt Geography as a compulsory subject at the primary and secondary school levels Omotayo, who made the call while delivering the 56th inaugural lecture of the institution titled ‘Are we Living in a Dying Earth?’ said government should reorder its educational priorities through a new curriculum that will emphasise an understanding of the environment.

According to him, the country needs a good leadership to implement such policies, adding that it should also constitute a national conference on environmental law and sustainability.

“Scholars in the field of development over time have

come to the conclusion that efforts at developing critical control aspects of world growth yield better results when the outcomes of such efforts can be continuously experienced in such a manner that does not impact negatively on any other aspects of human existence.”

He stated that geographers have from time immemorial come to realise the role that man has been playing in shaping the way the earth responds. “We have found that for all actions of man that disrupts this equilibrium, the earth responds in its natural ways and manners. Some of these responses have not been unsavoury and have been of great significances to mankind.”

The don called for the establishment of a revolution that will restore and preserve the earth’s environmental systems, saying, “there are indications that if this environmental revolution succeeds, it may

Bauchi SUBEB Attributes Out-of-school Syndrome to Insurgency, Others Segun Awofadeji in Bauchi The Bauchi State Universal Basic Education Board (SUBEB) has attributed the out-of-school syndrome to socio-economic challenges, religious misconceptions and socio-cultural beliefs.

The Chairman, Professor Yahaya Yero also cited insurgency as in the case of the north-east, and loss of confidence especially the preponderance of educated but unemployed youth as other factors.

Yero, who made this known at the launch of the state-wide 2016/2017 Enrolment Drive Campaign at Yaba Village in Gamawa Local Government Area, stressed the need for the government to sensitise the public on the importance of enrolling children in school.

According to him, about 8.7 million children nationwide are said to be out of school, which he hinged to the National Enrolment Drive Framework of the Federal Ministry of Education.

“The situation is more serious in the northern states, especially in the North-east region to which Bauchi State belongs,” he said hence the state government’s sensitization of the public on the need to enroll children in school.

The SUBEB chairman explained that it is the failure to enroll children in school that gave birth to social vices which are exhibited by youths in every nook and cranny of the society.

To provide free and compulsory basic education, he said the state government has awarded contract worth N3.6 billion for the construction/ renovation of classrooms and supply of furniture to schools across the state.

He stated that the government has also embarked on training and re-training of teachers, head teachers, as well as providing support to School Based Management Committees (SBMC) through collaborative efforts with other development partners.

Governor Mohammed Abubakar had while launching the campaign, described education as a crucial factor of ending global poverty, adding that with education, employment opportunities are broadened, income levels increased, and material and child health is improved.

Represented by the Special Adviser on Education, Mohammed Abdullahi, the governor explained that government is geared towards re-shaping the entire education sector especially to improve access as more schools will be established and thousands will be renovated to give opportunity for enrolling school aged children.

He recalled that in 2013/2014 UNICEF conducted school mapping in only six LGAs in the state namely, Alkaleri, Ganjuwa, Shira, Ningi, Toro and Zaki, which covered 201 selected schools including primary and junior secondary schools.

Accordingly, the exercise had 696 catchment communities across the six LGAs with a total of 232,696 children within the age-group of three and 18 years comprising 128,518 male and 104,178 female, while a total of 58,530 children- 31,010 male and 26,620 female- were listed as out of school.

He therefore directed all local government councils in the state to conduct enrolment campaign to ensure that school aged children in their areas are enrolled in schools.

rank up with agricultural and industrial revolutions as one of the great economic and social transformations in human history.”

Omotayo added that the environmental revolution will make use of new technologies which will be driven primarily by restructuring the global

economy such that it does not destroy its natural support system.

“Its success will be metered by the extent to which it is able to transform the global economic system into an environmentally sustainable development path that leads to preservation of ecosystem

services, greater economic security, healthier lifestyles, and a worldwide improvement in human living conditions.”

In his remarks, the ViceChancellor of the institution, Professor Olanrewaju Fagbohun, stressed that laws play a critical role in ensuring sustainability, saying, “laws

helps man to curb impunity.

The laws are there but not being enforced.”

He expressed concern that man will pay his way through after committing a crime, saying that people must change their attitude and enforce the law towards ensuring a sustainable environment.

CONGRATULATIONS

L-R: Dr. Ifeanyi Didiugwu; Ambassador Hassan Adamu (the Wakili of Adamawa); and Dr. Sam-Loco Smith after the conferment of Doctor of Philosophy degrees on Didiugwu and Smith at the 17th convocation ceremony of Enugu State University… recently

NASU Urges Kwara to Spend Released N75bn on Workers’ Outstanding Salaries Hammed Shittu in Ilorin The Non-academic Staff Union of Educational and Associated Institutions (NASU) has appealed to the Kwara State Government to use the N75 billion - over-deduction from the state’s federation account for Paris loan- released to the state to offset the salaries of workers of the state-owned tertiary institutions and other parastatals in the state.

“At present, the state government is owing workers of the College of Arabic and Islamic Legal Studies, Ilorin nine months; College of Education, Ilorin eight months; College of Education, Oro 13 months; College of Education (Technical) Lafiagi four months and staff of the State Universal Basic Education Board (SUBEB) seven months.”

The federal government

said it released some funds to the 36 states through the federation account over the deductions from their past federal allocations. NASU in a communiqué issued at the end of its state executive council meeting in Ilorin, said “ensuring the payment of their salaries we believe will go a long way to save souls of our teeming members in the state from sudden and untimely death due to their inability to attend to their health issues and buy drugs for those on life threatening sicknesses.”

The communiqué, which was signed by the state Chairman, Issa Muhammed and Secretary, Owoeye Olusina read in parts: “The sec-in-session appreciates government of Kwara State led by Governor Abdulfatah Ahmed for his administrative acumen at ensuring that salaries of core civil servant are

paid regularly, which translate into better welfare on the side of the core civil servants and teaching service commission in the state.

“We cannot but also thank you for past and present efforts of your government to keep hope of finding lasting solution to state-owned tertiary institutions’ perennial salary crisis alive.

“We are aware that the internally generated revenue (IGR) of our dear state has improved tremendously; it will delight and boost the morale of our members across the state if their needs are attended to.

“Labour Support Transition Committee (TIC) having critically examined cost of governance at each level of government, we believe that money saved from this arrangement will be effectively managed to pay workers’

outstanding salaries.

“We are hopeful that the release of N75 billion to Kwara State from the federation account being over deduction from Kwara State allocation for Paris debts will bring succor to our members in the state, who have been waiting patiently for relief package (bail out) as promised by your government to pay their salaries. We therefore appeal to the governor to rescue our members from the claws of their creditors due to several months of unpaid salaries.”

The communiqué also appealed to the state government to approve and implement all promotions pending and give cash backing to all nominal promotions done so far at SUBEB, teaching service commission and all state owned tertiary institutions that do not have governing councils.

NB, Rotary Club Donate Library to Lagos School Nigerian Breweries Plc, in collaboration with Rotary Club, has built and furnished a library, as well as sanitary facilities at Randle Avenue Primary School, Surulere, Lagos.

Speaking during the inauguration of the project recently, the Managing Director, Mr. Nicolaas Vervelde, who was represented by the Corporate Affairs Adviser, Mr. Kufre Ekanem, said the initiative is in line with the company’s commitment to the development of education in Nigeria.

He stated that the project is part of the company’s

philosophy of ‘Winning with Nigeria’ and a demonstration of its commitment to improving the standard of education in the country.

“We have extended our corporate social responsibility footprints in the areas of education as a development partner with the government; and we will keep demonstrating our company’s continuous commitment to improving the standards of education not only in Lagos but across Nigeria.”

He urged the school and pupils to make good use of the facility.

The President, Rotary Club of Lagos, Mrs. Modupe Sasore, said the facility is a testimony of the company’s commitment to boosting the standard of education in the country.

She thanked the Lagos State Government; officials of the State Universal Basic Education Board (SUBEB); staff of the benefitting school and the project contractors for their cooperation in making the learning facility a reality.

The Head Teacher of the school, Mrs. Anthonia Ojeogwu, commended the company for its indelible mark in the school,

which she said has added to its resource centre.

“It is a thing of joy to have a company like Nigerian Breweries in Lagos which adds value to various sectors of the Nigerian economy. So, on behalf of the school, parents and pupils, I commend them for their commitment to improving educational standards across Lagos state and the nation.”

Parents, students and other stakeholders present at the occasion also commended the company for the initiative and congratulated the school for the new resource centre.

34

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

EDUCATION

EY Strengthens Investment in Quality Education, Donates to Schools

Uchechukwu Nnaike

As part of activities marking the EY Charity Day tagged ‘Building a Better Working World’, Ernst &Young (EY) Nigeria recently donated items to some public schools and an orphanage in Lagos State to improve the lives of underprivileged members of the society.

The annual charity day, which has been on for six years, provides an opportunity for the entire staff and management to visit the benefitting organisations to inaugurate the items donated, as well as a visit to the orphanage.

The company visited Ilasan Junior and Senior Secondary School, Lekki, where it refurbished the science laboratories and donated more than 100 laboratory equipment; it also provided a water treatment plant that will supply water to the laboratories and the entire school. It also donated science laboratory equipment to Eko Akete Senior Secondary school, Lagos Island The EY team also visited the Vigilant Heart Charitable Society Home where it donated foodstuffs and other items to support the organisation in caring for the vulnerable children, while it provided an inverter for Pacelli School

for the Blind, Surulere, Lagos to ensure sustained power supply at the school.

According to the Managing Partner of EY, Mr. Henry Egbiki, the purpose of the company’s existence is to build a better working world, adding that it is not just about making profit, but by giving back and supporting communities around it.

He said despite the recession, the company still went on with the initiative because “this is a higher calling for us we believe it is something that we need to do and we sustain it.”

Asked how the organisation generated funds for the intervention, he said: “Everyone from the most junior staff to the most senior staff all contributed to make this happen because we believe in it; we get inspiration from it. And is the thing that gladdens our hearts that everybody has keyed into this project and we don’t just contribute money and items, you know we can just send it to them, but we want to associate with the people.

“We go to the orphanages we want to see the children, we want to associate with them; we want to feel what they feel, we want to see what they see; we want to see the environment in which

they live, we want to see other areas that we can support them in future.”

Beyond the charity day, Egbiki announced that the staff of the company in their determination to improve the quality of education in the state, have volunteered to devote 40 hours of teaching every week starting from January 2017.

“Our people will go to secondary schools around us for 40 hours every week to teach especially compulsory subjects where students are not doing well for instance, English Language, mathematics and some of the core science subjects and we think this is good; this is how you can impact communities around you; this is the way you can support, we are supporting to at least strengthen the human capital development, as you know the index has been very low for our country.”

In terms of monitoring the projects, he said the team usually visits the benefitting schools every year to see that they are still functioning properly “and if there are gaps we ensure that we also intervene. So there is a monitoring process to ensure that there is sustainability and that the efforts that have been made are not made in vain.”

The management and staff of EY with management, staff and some residents of Vigilant Heart Charitable Society, Lagos during EY’s visit as part of its Charity Day activities… recently

Don Emphasises Skills Acquisition among Youths Funmi Ogundare The former Vice-Chancellor of Ondo State University of Science and Technology (OSUSTECH), Professor Tolu Odugbemi, has stressed the need for the country to place more emphasis on the acquisition of skills that will make graduates self-reliant and job creators.

Odugbemi, who made this known recently during the book launch/public presentation of ‘Experiences on Starting a New University in a Developing Country Setting, Nigeria- OSUSTECH’, in Lagos, said much attention seem to be paid on university education to the detriment of other vocational skills relevant to building the economy.

“It is economic desperation or no other means of livelihood/employment that push majority to seek employment in universities.

The qualifications, experience, skills and background of applicants for employment and admission do not often count.”

He expressed concern that Nigerian university curriculum does not address how graduates could be employers of labour and job creators, adding that the board

members/governing council appointed by the government sometimes do not have sufficient understanding of the education system. He said various communities also see universities in their areas as their personal property to treat as they please.

Odugbemi stressed the need for background checks on potential team and governing board members, as well as staff and students. “There is undue and unacceptable interference by outsiders in the running of our universities. Our universities most of the time, do not have steady educational policies, no effective rules and regulations. This allows for abuse of various processes for admission, appointment and promotion. These are the factors that make universities dysfunction.”

He regretted that corruption has eaten deep into the country and is negatively affecting universities, which should be seen as true centres for learning, teaching, research and community service.

“What roles are universities playing?

Researchers have unbelievable huge research topics to address. Imagine the ongoing allegations on billions of naira or US dollars being stolen by individuals.

What are our university social scientists doing? Are these not potential topics for research with outcome of international prizes like Noble Prize?

“What about psychologists, writers?

What are psychiatrists waiting for in researching into these social anomalies?

The pathologists should be struggling to have pieces of the brain samples of those stealing to detect defects which may lead to discoveries of new syndromes. This is a serious matter.

“It is unfortunate that technology in universities in developing countries is not directed at immediate challenges of making escalators or lift function, getting simple means of transportation, finding alternative sources of energy and fabricating or upgrading tools to cool our homes and offices.”

The Head, Department of Education Foundation, University of Lagos (UNILAG), Prof. Ngozi Osarenren, who reviewed the book, said the 10-paged compendium is replete with rich pictures of virtually all the activities and events that took place during the tenure of Odugbemi as the pioneer vice-chancellor of OSUSTECH.

‘Let’s Start From theVery Beginning...’

When Julie Andrews in Sound of Music sang, “Let’s start from the very beginning, the very good place to start...”, she made a profound statement that cuts across anything anyone might want to do and do successfully.

For nations with high rate of tuberculosis (TB) to eradicate this disease, it’s people’s must start from the very beginning. The BCG Vaccine given to babies provides the needed protection against TB in children. We know from the World a Health Organisation (WHO) that the BCG Vaccine currently reaches up to 80 per cent of all newborn children and infants in countries that have high level of tuberculosis.

Is the BCG vaccine easily available in your area?

Currently, countries with high rate of tuberculosis are: Africa - generally Sub-Saharan Africa. It’s important to note that Nigeria and South Africa were listed amongst the six countries accounting for 60 per cent of the total deaths globally from tuberculosis in 2015, according to WHO Reports online.

Also experiencing incidences of tuberculosis are: South East Asia, including India, Pakistan, Indonesia and Bangladesh; Russia; China, South America; the West Pacific Region - to west of the Pacific Ocean including Vietnam, Cambodia and the Philippines.

Pregnant women in these regions need to consider seriously getting their newborn babies vaccinated with the BCG vaccine soon after they’re born.

The BCG vaccine is currently the only vaccine available for the prevention of tuberculosis in human beings.

What’s it with Tuberculosis (TB) you might ask.

Presently globally, tuberculosis (TB) like many bacterial infections, is trudging on as an obstinate multi-drug-resistant infection. According to the WHO, in 2015 world-over, an estimated 480,000 sufferers developed multi drug resistance to the infection. TB is a serious infection caused by a bacterium known as Mycobacterium Tuberculosis. Its complications can kill if not quickly treated.

This bacteria is contained within the droplets, in the sneezes and coughs of infected persons. Uninflected people inhaling these contaminated droplets, after prolonged contact with the infected may acquire the bacteria. Symptoms (see below) develop within a few weeks or months and can be very ravaging for the affected individual.

TB mainly affects the lungs (pulmonary TB). It is contagious when the bacteria is located in the lungs. In its active state, where a person’s immune system has failed to kill or contain the infection, its sufferers are infectious to other people. They need to be urgently seen and treated with effective antibiotics prescribed by a doctor that’s able to treat the infection.

Tuberculosis can affect other parts of the body namely glands in the stomach, the nervous system and the bones.

Do you know anyone: coughing for three weeks or more; bringing up phlegmy sputum; coughing up blood, experiencing tiredness and fatigue; losing weight, with an accompanying loss of appetite; experiencing night sweats, chills, fever and high temperatures; having swellings in the neck, then do something quickly!

Get them seen by a competent doctor!

Omoru writes from the UK

Delightsome Land School Ends Year with Parents’ Hangout Martins Ifijeh As part of activities to celebrate a successful 2016, the management of Delightsome Land School, Lagos recently brought parents together to unwind and ease off the year’s stress.

At the hangout tagged ‘Ripping the Runway’ parents were made to model designs by the famous London-based Nigerian fashion designer, Ade Bakare. The parents included a Nollywood actress, Monalisa Chinda-Coker; on air personality of Cool FM, Manny; wife of the former Speaker of the Lagos State House of Assembly, Mrs. Ikuforiji, among others.

Speaking at the event, the Proprietress of the school, Mrs. Tayo Olarenwaju, said the idea of bringing parents together to celebrate a successful year was to provide them with the opportunity to interact with one

another, unwind and appreciate the designs of Bakare.

She also called on the government to provide an enabling environment for businesses, adding that in her case, the school worries about things that ordinarily should be the government’s concern. “We worry about electricity, water, security and the likes. These are what the government should be putting in place for ease of business for those who are contributing to the society.”

On her part, Chinda-Coker commended the school for bringing parents together to relieve their stress. “Some of the run way models are grandmothers. It is an opportunity for many to have a feel of the entertainment of runway modeling. Most of them have also not worn makeups before; wearing it today will give them a lasting impression.”

35

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

EDUCATION

FG Assures Provosts of Transforming Teacher Education Kuni Tyessi in Abuja The Committee of Provosts of Colleges of Education in Nigeria has been assured of government’s determination to revamp teacher education in order to attain an enviable status.

The Minister of Education, Malam Adamu Adamu, who gave the assurance when the committee paid him a courtesy

visit recently, said the ministry has made teacher education its priority in the drive to transform the education sector; hence it formed one of the pillars in the ministerial strategic plan.

He promised the committee of looking into some of its complaints that are within the purview of his ministry with a view to addressing them.

The Chairman of the com-

mittee, Dr. Nwanze Ezoem, congratulated the minister, saying that his appointment has not only brought sanity to the sector but is a signpost of a visionary step to a pragmatic education in the country.

He pledged the committee’s unalloyed support to the minister and his management team, saying that the committee is bent on making teacher education a “profes-

sional reality” and not just a past-time occupation for quacks.

Ezoem complained about some challenges colleges of education are facing including low enrolment of students, late disbursement of TETFund allocations, salary and promotion arrears, among others and urged the minister to look into them with a view to proffering solutions.

Some officials of the Enugu State University of Science and Technology (ESUT) College of Medicine and guests during a dinner in honour of the Department of Community Medicine in Enugu… recently

ESUT Medical School Pledges Commitment to Excellence The Provost of the College of Medicine, Enugu State University of Science and Technology (ESUT), Prof.

Augustine Ugochukwu, has said that the series of re-training programmes being organised for its academic staff are to ensure that the college produces quality medical doctors, nurses, laboratory scientists and other related professionals that can successfully practice in any part of the world.

Ugochukwu said with the changing face of medicine, the college has braced up to meet global demands by ensuring that its lecturers are not only encouraged to research but, also to impart the best medical education in students.

Speaking at a dinner to celebrate the success of the Department of Community Medicine,

he expressed delight that the college, despite its young age, has produced some of the best medical doctors in the country, adding that “although we have not got there, at the speed we are going, we will get there soon.”

While describing the department as one of the most successful departments in the college, the provost said with the accreditation of most of its programmes, the management and staff have no excuse not to perform.

He advised chief executives to always carry everyone along in their decisions, even as he stressed the need to have a team for easy coordination.

Ugochukwu also called on pharmaceutical companies in the country to take the issue of clinical trial of their drugs

seriously, stressing that successful clinical trial of drugs would build the confidence of consumers.

The Chief Medical Director of the ESUT Parklane Hospital, Enugu, Dr. Gabriel Njeze, said the success achieved by the department within such a short time deserves to be celebrated.

He said shortly after visitations by various regulatory bodies, the department and others got accreditation in quick succession and re-emphasised that the hospital would continue to re-train its workforce with the latest advances in medicine.

In his remarks, the Head, Department of Community Medicine, Dr. Eddy Ndibuagu, reassured the university that the department would continue to strive for excellence, adding that with the accreditation, the

sky is now its limit.

The Chairman of House Committee on Health in the Enugu State House of Assembly, Dr. Emeka Ogbuabor, called on academics in various universities to collaborate and improve the quality of education in the country, adding that of late, the international community is no longer satisfied with the standard of education in Nigeria.

Ogbuabor, who was the chairman of the occasion, charged the staff to remain committed to the improvement of healthcare in the state and country at large.

Also speaking, the Dean, Clinical Medicine, Prof. Frank Ezeugwu, lauded Ndibuagu’s organisational ability, pointing out that changes in the department flow freely as a family affair since its inception.

71 First Class Graduates Get Scholarships in Kwara Hammed Shittu in Ilorin The Senate President, Dr. Bukola Saraki has announced plans to award scholarship to 71 Kwara indigenes that bagged first class from various universities in the country in the 2015/2016 academic session.

The scholarship according to him is to enable them pursue their masters degrees.

The Project Manager of the Saraki Empowerment and Employment Centre (SEEC), Ilorin, Mr. Adeyinka Adekeye, who disclosed this during a news conference in Ilorin, said “the affected graduates are from Universities of Lagos, Ilorin, Ibadan, Obafemi Awolowo University; Ahmadu Bello

University, Federal University, Minna; Kwara State University, Malete; Covenant, Bowen and Afe Babalola University, among others.

Adekeye, who gave the breakdown of the total figure, said Ilorin West Local Government Area (LGA) produced 18 first class graduates in the just concluded academic session.

“This is followed by Ifelodun, 12; Irepodun, nine; Offa, seven; Ilorin East and Isin, five each; Ekiti, Asa and Oyun, three each; Moro, two; Baruten, Edu, Ilorin South, Oke-Ero with one first class graduate each.

“Still on facts and figures on the session under review, Kwara produced 11 first class graduates in mathematics,

followed by six in Economics; five in Biochemistry; four in Civil Engineering; three in Computer Science, Statistics, Microbiology, etc.”

The project manager, who said the feat is worth celebrating, said Saraki’s gesture is aimed at celebrating the scholars for their outstanding performance and for being true ambassadors of the state.

He said the senate president hosted the scholars and their parents to a grand dinner on December 18 in Ilorin, where he awarded scholarship to each of them in appreciation of their extraordinary performances and as a further demonstration of his belief that the pursuit of excellence is the hallmark of

human capital development.

He added that the scholars attended a mentoring session on December 19, where they inspired select students of public and private schools across the state with their stories of exceptional performances.

Adekeye said the rationale behind Saraki’s gesture was not only to encourage the pursuit of excellence, but also to inspire future generations of indigenes of Kwara state to greatness.

Also speaking, the Project Consultant, Mr. Nasir Abdulkadri, said subsequent editions of the programme would recognise those who have distinguished themselves in informal vocations, religion and other tertiary institutions.

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

10 Tips for Being the Best You Can Be · Know what you want Maybe you have a talent you have longed to express and develop, if not, you probably know how you would like to be experiencing your life- perhaps with more happiness, better communications with the ones you love, greater fulfillment in your world. Knowing is deeper and stronger than wishful thinking or hoping. It is a conviction so solid that you can base your life on it. There are three things extremely hard, steel, a diamond, and to know one’s self. Benjamin Franklin. · Engage with your intention Daily nurture your vision- see, feel and hear- how you will be experiencing the fulfillment of your life you want, both inwardly and in the world. Use your imagination. · Practice your passion-take action If you have a talent, keep working with it, if you would like to be happier, do things that make you happy. Better communications?

Be willing to learn, practice, improve- and make mistakes from time to time. Your intention will speak volumes. · Raise your energy turn up the heat Love yourself and be grateful for all you have in your life right now. Pay attention to your blessings. Look up learn to forgive and laugh at the mistakes you make along the way. Each day, feel the enthusiasm for your vision, as if it has already happened. Stay open for the remarkable to take place. It will. There are two ways to live a life -one is as though nothing is a miracle, the other is as though everything is a miracle. Albert Einstein · Gather positive people around you At the very least, spend time with people who are supportive and for you. Enrich yourself by getting to know others who are actively creating the best for themselves and learn from them. · Get rid of what is unnecessary Clear the clutter! Live learn with only that which you need around you. The feeling of freedom you gain will liberate you closer to what you really want. · Organise yourself for success Find ways of dealing with life’s necessities so that you are not distracted by them. Only agree to do what you will actually do.

Learn to say no to what does not fit for you. · Set no time limits Learn to live in the present moment and respond to your intuition guidance. There are times when to act, time when to hold. You will get to know which is which. · Believe in yourself believe in your vision Feeling doubtful? In these challenging times, young children may teach us something. As adults, we can also be persistent in going for what we value. · Treasure yourself Do the things that show you care for yourself, eat foods that serve your body, drink plenty water, get enough sleep, exercise regularly, make time and space for fun, stay focused on your vision and intention. Taking care of your health is a wise investment of your time and attention. The diamond you are, you wear within you, you can call on its beauty and power when you want to stand forward and dazzle.

Eruotor writes from Lagos

Ahmed: Kwara to Renovate 420 Schools Hammed Shittu in Ilorin The Kwara State Governor, Abdulfatah Ahmed, has announced that the state will commence the renovation of 420 classrooms across the 16 local government areas.

Ahmed, who disclosed this while addressing members of the All Progressives Congress at the monthly stakeholders’ meeting in Ilorin, said the schools have been selected and will be given a face-lift to provide conducive environment for teaching and learning.

He promised to complete all ongoing projects as part of his efforts at providing quality and necessary infrastructure in the state and assured members of the party that the government would continue to pay contractors through the Kwara Infrastructure Fund (IF-K) so as to complete projects on schedule.

On the N5 billion London and Paris Club loan refund received by the state, he said about N2 billion has been released for the 16 local government councils and colleges of education to augment the payment of their salaries. Ahmed promised that the government would continue to make judicious use of the refund to the state, explaining that the Light Up Kwara project recently approved by the state executive council was conceived to strengthen security in the state. He said the project would be funded through public-private partnership on build, operate and transfer basis for 10 years by the consultant.

In his remarks, the state Chairman of APC, Alhaji Ishola Balogun-Fulan, commended the governor for sustaining the monthly interactive session which he said keeps Kwarans informed of developments in the state and Nigeria.

36

WEDNESDAY, DECEMBER 21, 2016, • T H I S D AY

CITYSTRINGS

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

New Shopping Experience for Abia Residents Emmanuel Ugwu writes that since Governor Okezie Ikpeazu inaugurated the Abia Mall in Umuahia, shoppers have been reveling in new shopping experience

R-L: Abia State deputy governor, Hon. Udo Oko Chukwu,former First Lady, Mrs. Mercy Orji (Osinulo), Senator T.A.Orji, Governor Okezie Ikpeazu and Hon. Sam Onuigbo, representing Ikwuano/Umuahaia North/Umuahia South federal constituency, during the inauguration of the Abia Mall in Umuahia…recently

F

or a state synonymous with commercial activities, Abia State is replete with markets, including the famous Ariaria International Market in the commercial city of Aba. But none of the markets scattered in various parts of the state offered residents conveniences associated with departmental stores. But all that has changed with the arrival of Shoprite which opened business at the newly built Abia Mall located at the north end of the capital city, Umuahia. Residents erupted in ecstasy as they trooped to Shoprite to experience what they had been hearing about or watching on television. It was an endless stream of thousands of people trooping to the mall to experience the novelty.

“It’s really a new experience for them (Umuahia residents),” said Musa Usman, the branch manager of Shoprite Umuahia.

He told THISDAY that it was obvious that some of the people might have seen Shoprite elsewhere and it was a pleasant surprise for them to see it right in their area hence their unbridled happiness. “Yes, the joyous mood was infectious on the faces of the shoppers and the smiling young men and women attending to them having gained employment at Shoprite.” Usman said that over 60 per cent of the employees are Abians.

Armstrong Iwuoha, who works in Umuahia but said he was a regular visitor to Shoprite at Owerri where he usually spends his weekends, could not hide his feelings after shopping at the new mall at Umuahia. “It’s a good thing for Umuahia,” he enthused. Similar sentiment was also expressed by Mrs. Gloria Abiakam, a staff of the Federal Ministry of Information, Umuahia office. According to her, the addition of Abia Mall to the infrastructural aesthetics of Abia capital city “is a sign of

development.” “Nobody knew that such a thing would happen in Umuahia,” she added.

It was actually made possible through the initiative of the immediate past governor of Abia, Senator Theodore Orji. While in office, he developed the appetite for striving to replicate any good thing he saw in other places he had visited. Shopping mall was one of such beautiful infrastructures he saw elsewhere and felt the compelling need for it to be replicated in Umuahia. It was the same motive that made him to build the Abia Specialist Hospital and Diagnostic Centre and the ultra modern Ophthalmology Centre to replicate what he saw in the United States after he returned from a medical trip.

Before the coming of Abia Mall to Umuahia , neighbouring states of Enugu and Imo were already enjoying the modern shopping experi-

On November 24, 2016 when the Abia Mall was formally inaugurated

by Governor Ikpeazu he poured encomiums on his predecessor for initiating this important economic project. He said that Senator Orji displayed visionary leadership in initiating the project, which has become one of the economic legacies he bequeathed to Abia

ence offered to customers by Shoprite. But it was just a matter of time before Umuahia joined the league. Orji saw the need to further expand the infrastructure base of Umuahia and a shopping mall was a fitting addition.

Towards the end of his second term in office as governor, the Orji-led administration entered into a partnership with a private developer for the construction of the mall at the Old Garki area of the city. It was conceived and executed as a Public Private Partnership (PPP) with the state government-owned Abia Retail Company Limited and a private developer as the partners. Before the project came into fruition, the Department of Arts and Culture and the Abia State Universal Education Board (ASUBEB) had to be relocated to make way for the mall. After the ground breaking ceremony skeptics expressed doubt about the possibility of completing the project more so as Ochendo, name given to Orji by his admirers, was on his way out of government house. Eventually it turned out not to be an abandoned project as work did not stop after he left office. His successor, Dr. Okezie Ikpeazu kept paying regular inspection visits to the construction site to ensure completion of the project.

The project director of the firm that designed and built the Abia Mall, Mr. Chuka Okoye, said that the project escaped being caught up by the economic recession plaguing the nation as it had gone far before recession set in. Apparently the state government and the developers had both kept to their terms of the agreement in the PPP hence the execution of the Abia Mall was not delayed even after Ochendo had left office. Okoye said that the developers entered into the public private partnership with Abia government to build the mall since his company was already in the business of designing and developing

shopping malls across Nigeria, saying such facilities were already in operation in Enugu, Ilorin, Ibadan, Onitsha and Owerri. “We believe that every state in Nigeria should have a retail mall as in other nations,” he said, adding that Umuahia was well positioned to have a shopping mall and residents would definitely enjoy the low prices and quality goods.

On November 24, 2016 when the Abia Mall was formally inaugurated by Governor Ikpeazu he poured encomiums on his predecessor for initiating this important economic project. He said that Senator Orji displayed visionary leadership in initiating the project, which has become one of the economic legacies he bequeathed to Abia. The Abia chief executive, also pointed out that the Abia Mall would provide employment opportunities for Abians and also contribute to the internally generated revenue of the state.

According to him, the mall has also contributed to the aesthetic beauty of the state capital. Orji, who was present at the ceremony together with his wife, Mercy, to witness his dream come true said that he was very happy that the project has been completed, noting that it would boost the economy of the state. The Abia Central senator recalled that “there were many obstacles (along the way) when we started the project” adding that “today it has come to fruition and it has become one of the legacy projects that will stand the test of time.”

As a governor Orji had built a number of modern markets, including the Ubani Ibeku Market, New Industrial Market at Ahiaeke Ndume and the Spare Parts Market at Ohia.

These new markets replaced Umuahia Central Market, Timber Market and Ngbuka Market respectively that were all demolished and

37

WEDNESDAY, DECEMBER 21, 2016, • T H I S D AY

CITYSTRINGS

Ikpeazu, Orji (middle) and others inspecting the newly inaugurated Abia Mall in Umuahia

relocated from the city centre to the new markets at the outskirts. With the opening of the Abia Mall there was palpable fear that it would affect the commercial fortunes of traders in the markets and shop owners in the capital city. But Orji allayed the fears of Umuahia traders over the likelihood of bad business due to the presence of Shoprite in the capital city.

According to him, the shop owners in the city and traders in the markets would continue to enjoy the patronage of their customers.

Even at that, the branch manager of Shoprite insists that everybody operates in an open competition and consumers were at liberty to choose where to go for shopping.

Shoppers are already falling in love with the new shopping experience. Iwuoha said that Umuahia traders “are in trouble because “prices of goods are far cheaper and they sell original goods.” He further stated that the convenience of buying all that you need under one roof is an added attraction for his patronage of Shoprite.

“When you come here you buy more than you expect because there are lots of things to buy,” he said, adding, “You over buy”.

Mrs. Abiakam said that shopping at the mall “saves you a lot of stress” associated with going to the market or going from one shop to another to pick the items one needed at any point in time. Nonetheless she agreed that the shops out there in the city and the traders in the market would still retain their customers as “Shoprite is elitist and not for those at the lower rung of the ladder.”

The Abia Mall has become a tourist attraction for residents of Umuahia and environs.

Many of them visit Shoprite everyday not only to shop but also to relax. As the Abia capital city currently lacks an amusement park the mall has come to take up that role. Young boys and girls go there for sightseeing and

The Abia Mall has become a tourist attraction for residents of Umuahia and environs. Many of them visit Shoprite everyday not only to shop but also to relax. As the Abia capital city currently lacks an amusement park the mall has come to take up that role.Young boys and girls go there for sightseeing and window shopping.They take photographs as evidence of their visits to the new bride in town

window shopping. They take photographs as evidence of their visits to the new bride in town. Still there are those that just go to Shoprite to buy its bread. The bread has become so popular that every evening a human traffic forms at the selling point of the oven fresh bread with people jostling in unwieldy queue to pay for and grab a loaf or more. On this particular day of December 15, 2016 the queue was so long that bread consumers stayed for hours to make a purchase. One of the customers, Ben Chukwukere told THISDAY that he got frustrated after waiting for so long and people were pushing and shoving him, adding that he eventually had to go home and buy bread in town. According to him, it was evident that the sales people were overwhelmed by the number of people wanting to buy Shoprite bread on that particular evening.

Despite the ecstasy with which Umuahia residents welcomed Shoprite and the magnetic pull it is already exerting on them, observers are expressing doubt on the sustainability of the new shopping experience. But the branch manager insisted that there was no cause for alarm as “Shoprite has come to stay” in the capital of God’s own state. As at now commercial activities at the Abia Mall have not gone into full swing. Shoprite is still the major tenant as other major retail companies are yet to take up the shops.

And shoppers expect to see other retailers in specialised lines of business in the mall. “We expect that clothing lines and other things would come up,” Abiakam said. She also advised the owners of the mall to consider

introducing games arena or amusement park as a component of the shopping complex.

May be such facilities would eventually be added as Okoye has stated that the Abia Shopping Mall is “a long term project”.

One major flaw that customers have noticed at the mall is the issue of security. For instance, Mr. Imo Thomas, an Umuahia-based journalist pointed out that the indemnity notice boldly displayed on the wall near the entrance of the mall was “disturbing”. He argued that it was not proper for the owners of the mall to place every security risk on the shoulders of shoppers. According to him, there should be conscious effort on the part of the mall owners to protect lives and property of those that visit the mall for shopping. Thomas pointed that a situation where customers drive their cars into the parking lot without tags issued to them exposed their vehicles to car thieves. He reasoned that thieves could easily drive a stolen car away without being required to present any identification as proof of ownership.

With the introduction of the shopping mall to the infrastructural landscape of Umuahia would certainly excite indigenes as they arrive for the Christmas and New Year celebrations. It would equally be a pleasant surprise for them by the time they discover that the modern shopping facility they were already used to in the big cities has finally arrived at the capital city of their own state. They would discover that Umuahia has continued to grow after the Ochendo touch as it has shed the toga of a glorified village.

38

WEDNESDAY DECEMBER 21, 2016 T H I S D AY

T H I S D AY WEDNESDAY DECEMBER 21, 2016

39

40

WEDNESDAY DECEMBER 21, 2016 T H I S D AY

T H I S D AY WEDNESDAY DECEMBER 21, 2016

41

42

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

BUSINESS/MONEYGUIDE

‘CBN Seeking End to Spread Between Interbank, Parallel FX Rates’ The Central Bank of Nigeria (CBN) will try to eliminate the spread between the official and black market exchange rate against the dollar, the Minister of Finance, Mrs. Kemi Adeosun said on Tuesday.

The naira is trading on the parallel market some 40 per cent lower than the official rate as low global crude prices have dried up vital oil revenues and pushed Africa’s largest economy into recession.

The central bank scrapped a 16-month-old peg of N197 to the dollar in June, but it continues to trade in the official market, so that the

naira remains far stronger against the dollar there than on the parallel market. The government has blamed that black market for damaging the already shaky economy.

“The CBN is working on the elimination of arbitrage,” Adeosun told Reuters by text message, without saying how this would be done.

She earlier told a conference that the central bank was working on removing the price difference. Adeosun said this had been in response to a question about manufacturers not getting incentives to produce given an arbitrage

opportunity.

A CBN spokesman, Isaac Okorafor, said the central bank was working towards “ensuring that the forex market operates as effectively as we would envisage.”

He said the aim was to “ensure there is no black market” but did not give details of how this would be achieved.

The naira has traded around N305.5 naira to the dollar on the official interbank market since August, while it was quoted at N490 to the dollar on the parallel market on Tuesday.

FRC, Private Sector Operators to Harmonise Corporate Governance Code Amid the controversies surrounding the recently released National Code of Corporate Governance (NCCG), members of the Organised Private Sector (OPS) comprising the Nigeria Employers’ Consultative Association (NECA), Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) as well as the Manufacturers Association of Nigeria (MAN), have met the Financial Reporting Council of Nigeria (FRC), to brainstorm on harmonisation of the code. The move was to address some aspects of rule to

ensure it becomes an acceptable guiding rules for businesses in the country. The OPS were on a courtesy visit to the Council’s corporate headquarters in Lagos to seek clarifications on certain areas of the code.

Speaking at the Council’s office, the Director General (DG) of NECA, Mr. Olusegun Oshinowo, who led the delegation, said the group was in support of the NCCG which is to ensure transparency, accountability and fairness to all stakeholders in the business sector of the economy but was in the Council’s office to seek

clarifications on certain aspects of the code.

A statement said Oshinowo highlighted some of those areas to include among others, transitional period for the enforcement of the code, the number of non-executive directors to be appointed into companies’ board, constitution of Joint Audit by entities with at least N10b capital and appointment of consultants.

He urged the FRC to look into them with a view to addressing them in such a way that the inputs of the stakeholders would reflect in the code.

Interswitch Delays IPO over FX Supply Concerns Interswitch Limited, which processes payments for banks and owns a brand of debit cards in Nigeria, suspended plans to raise as much as $1 billion in an initial public offering as investors fret over further potential weakness in the naira and a shortage of foreign currency.

The company, which operates in five African countries, said last year it met with banks including Bank of America Corp., Barclays Plc and Standard Bank Group Limited about a potential 2016 share sale in

Lagos and London.

The IPO would have enabled London-based private equity group Helios Investment Partners LLP, a shareholder, to return some money to investors, Interswitch Chief Executive Officer Mitchell Elegbe, told Bloomberg in an interview.

“The macroeconomic situation in Nigeria is the determining factor’’ in delaying the plans, Elegbe said.

Potential investors are “jittery’’ about the naira exchange rate and whether they will be able

to buy foreign-exchange to get their money out of the West African country, he said.

A deal leading to a dual listing in London and Lagos could value Interswitch at more than $1 billion, people with knowledge of the matter said in February. While Interswitch will revisit the IPO plans, its focus now will be on expansion, targeting two East African countries to add to operations in Kenya, Tanzania, Uganda and Gambia, Elegbe said, without giving details.

MARKET INDICATORS MONEY AND CREDIT STATISTICS 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

Diamond Bank Promotes 850 Employees Diamond Bank has announced the promotion of over 850 employees of its workforce who have distinguished themselves in performance and in living the core values of the bank.

According to a statement issued by the bank yesterday, “these members of staff will be part of the talent pipeline in the coming years as they have distinguished themselves at the junior levels and therefore need

to be encouraged and developed to take up critical positions in the future.”

“Diamond Bank is one of Nigeria’s fastest growing retail bank, leveraging innovation and technology to enhance customer experiences and drive financial inclusion in what it terms Beyond Banking. Since incorporation in December 1990, Diamond Bank has challenged the market environment by

introducing new products, innovative technology and setting new benchmarks through international standards. “ Today, Diamond Bank is best placed to respond to changing lifestyles and is leading the digital transformation in response to these societal shifts. Diamond Mobile app, for example, is Africa’s leading banking app and the first with the touch ID feature,” it added.

Oviosu, Paga Founder Listed among 100 Influential Nigerians The founder and Chief Executive Officer of Paga, Tayo Oviosu has been listed alongside other distinguished individuals as most influential people in Nigeria by YNaija, to its annual list of the 100 most influential people in Nigeria.

A list that features thought leaders and change agents shaping the future of the country. The CEO of Paga was recognised for his outstanding role in delivering financial inclusion to Nigeria and his innovative

contribution to the financial industry. The list recognised Oviosu’s achievement amongst other influential individuals such as Aliko Dangote, Akinwumni Ambode, Mo Abudu, Peter Obi, Emir Muhammadu Sanusi II, Chimamanda Ngozi Adichie and many others.

Oviosu founded one of Nigeria’s leading payment platform that delivers truly innovative payments and financial services to Nigerians – both banked and unbanked.

“Today, Paga has grown into a full-blown financial services platform delivering universal access to payments and financial services to all individuals and businesses. Through Paga, businesses and individuals can pay and get paid in diverse ways from its large network of over 10,500 agents.

“With Paga, Nigerians can deposit money into any bank, pay their utility bills – electricity, payTV, internet and transfer money across the country.

(MILLION NAIRA)

MARCH 2016

• Source - CBN

MANAGED FUNDS Initial Price (N) Stanbic Balanced Fund

Buying Price(N)

Selling Price

1,660.29

1,685.29

Stanbic IBTC NEF

1,000.00

11,002.32

11,326.67.11

Stanbic SIBond

20

120.47

120.47

Stanbic IBTC Ethical

1

1.10

1.13

Stanbic IBTC GIF

142.90

143.38

UBA Balanced Fund

1.2563

1.2493

UBA Bond Fund

1.3443

1.3443

UBA Equity Fund

0.8205

0.8074

UBA Money Market Fund

1.1510

1.1510

ARM Aggressive Growth Fund

N13.0544

N13.4480

ARM Discovery Fund

N288.2515

N296.9425

ARM Ethical Fund

N22.5268

N23.2060

ARM Money Market Fund

13.1030 (Yield % ) • Monetary Policy Rate - 13%

OPEC DAILY BASKET PRICE AS AT, MONDAY, 19 DEC 2016 The price of OPEC basket of fourteen crudes stood at $52.18 a barrel on Monday, compared with $51.29 the previous Friday, according to OPEC Secretariat calculations. The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Minas (Indonesia), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

43

T H I S D AY • WEDNESDAY DECEMBER 21, 2016

Nigeria’s top 50 stocks based on market fundamentals 20-Dec-16 19-Dec-16

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

170.04

170.00

0.02%

2,897,567,879,146.20

9.20

17.93

4.95

4.85%

3.76

02 Nigerian Breweries Plc

142.00

142.00

0.00%

1,125,932,326,096.00

4.03

35.19

3.73

2.54%

6.87

03 Guaranty Trust Bank Plc

24.80

25.50

-2.75%

729,893,244,755.20

4.90

5.22

1.88

6.91%

1.53

810.00

810.00

0.00%

642,051,564,120.00

8.81

91.92

3.72

3.58%

20.34

14.38

14.39

-0.07%

451,481,580,642.68

3.91

3.77

0.97

12.22%

0.66

390.00

390.00

0.00%

215,791,022,070.00 -44.58

-9.20

2.92

3.88%

0.58

07 Ecobank Transnational Incorporated

11.45

12.04

-4.90%

210,102,361,411.75

0.68

16.48

0.35

5.56%

0.33

08 Lafarge Africa Plc

40.00

39.00

2.56%

182,196,072,400.00

-9.39

-4.15

0.83

7.69%

0.88

09 Presco Plc

42.00

41.87

0.31%

166,760,035,890.00

0.03

1,431.95

2.33

3.10%

3.98

10 United Bank for Africa Plc

4.57

4.50

1.56%

165,797,435,291.54

1.75

2.60

0.49

13.22%

0.38

11 Access Bank Plc

5.69

5.56

2.34%

164,600,158,580.39

2.59

2.18

0.46

9.73%

0.37

12 Stanbic IBTC Holdings Plc

14.95

14.94

0.07%

149,500,000,000.00

2.04

7.37

1.07

0.67%

1.27

13 Unilever Nigeria Plc

36.00

39.57

-9.02%

136,198,665,000.00

0.69

63.34

2.50

0.11%

17.68

14 Guinness Nig Plc

87.50

85.00

2.94%

131,765,216,450.00

-3.06

-25.38

1.13

4.12%

2.96

15 Forte Oil Plc.

94.69

104.91

-9.74%

123,331,935,643.07

3.31

38.95

1.09

2.68%

3.88

16 FBN Holdings Plc

3.41

3.46

-1.45%

122,402,948,420.72

0.21

16.92

0.24

4.27%

0.20

17 Mobil Oil Nig Plc

280.00

280.00

0.00%

100,966,673,360.00

19.32

14.70

1.13

2.53%

5.53

18 Total Nigeria Plc

277.10

277.13

-0.01%

94,081,501,032.70

38.02

7.29

0.35

5.05%

4.13

19 7-Up Bottling Comp. Plc

129.00

129.00

0.00%

82,636,156,827.00

-0.05 -2,824.30

0.89

1.71%

3.72

20 Dangote Sugar Refinery Plc

6.32

6.10

3.61%

75,840,000,000.00

1.03

5.94

0.51

8.20%

1.18

21 International Breweries Plc

17.95

18.00

-0.28%

59,131,774,576.00

0.02

841.03

2.34

1.32%

5.69

4.41

4.34

1.61%

53,072,669,322.54

-3.15

-1.36

0.20

17.48%

0.32

23 Julius Berger Nig. Plc

38.58

36.75

4.98%

50,925,600,000.00

-2.95

-11.88

0.40

4.29%

2.43

24 Flour Mills Nig. Plc

18.50

18.50

0.00%

48,548,387,959.50

-1.19

-15.51

0.12

10.81%

0.49

25 Okomu Oil Palm Plc

39.79

40.13

-0.85%

37,956,078,900.00

4.82

8.32

5.82

0.25%

2.37

0.88

0.90

-2.22%

34,074,477,734.00

-0.47

-1.93

0.67

0.00%

0.47

16.41

16.50

-0.55%

31,521,384,590.67

3.37

4.89

0.42

6.06%

0.42

0.86

0.88

-2.27%

24,907,823,695.12

0.39

2.30

0.17

17.98%

0.14

33.26

33.26

0.00%

23,282,000,000.00

2.28

14.56

3.49

3.46%

13.60

30 Custodian And Allied Insurance Plc

3.93

3.96

-0.76%

23,115,726,286.35

0.76

4.95

0.61

3.70%

0.78

31 Sterling Bank Plc

0.75

0.73

2.74%

21,592,813,594.50

0.29

2.43

0.19

12.86%

0.25

32 FCMB Group Plc

1.09

1.12

-2.68%

21,584,954,751.29

0.61

1.83

0.14

8.93%

0.12

33 Diamond Bank Plc

0.90

0.86

4.65%

20,844,350,071.20

-0.29

-3.10

0.10

0.00%

0.09

34 National Salt Co. Nig. Plc

7.60

7.22

5.26%

20,135,731,672.80

0.85

8.24

0.99

7.86%

2.51

10.70

10.70

0.00%

20,096,761,828.00

0.50

22.33

0.75

11.66%

2.05

0.52

0.53

-1.89%

20,058,722,362.12

0.06

9.06

0.41

0.00%

0.44

15.00

15.00

0.00%

17,938,147,320.00

-2.98

-5.03

0.64

2.00%

2.04

38 Mansard Insurance Plc

1.56

1.64

-4.88%

16,380,000,000.00

0.28

5.89

0.86

3.05%

0.82

39 PZ Cussons Nigeria Plc

14.99

15.20

-1.38%

14,990,000,000.00

5.69

2.67

1.06

0.66%

0.41

40 Honeywell Flour Mill Plc

1.33

1.32

0.76%

10,547,162,885.14

-0.40

-3.12

0.21

12.70%

0.30

41 Continental Reinsurance Plc

1.00

1.00

0.00%

10,372,744,312.00

0.42

2.33

0.46

12.24%

0.54

42 Wapic Insurance Plc

0.52

0.50

4.00%

6,959,023,891.04

0.18

2.78

0.85

6.00%

0.41

43 Skye Bank Plc

0.50

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

44 Unity Bank Plc

0.58

0.56

3.57%

6,779,816,006.36

-0.10

-5.46

0.10

0.00%

0.08

45 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 Cement Co. Of North.Nig. Plc

4.21

4.24

-0.71%

5,290,613,394.86

0.22

18.45

0.46

2.48%

0.47

47 AIICO Insurance Plc

0.61

0.60

1.67%

4,227,424,732.80

0.22

2.69

0.14

8.33%

0.41

48 UACN Property Development Co. Limited

2.18

2.08

4.81%

3,746,874,989.10

0.30

6.95

0.85

33.65%

0.10

49 Nigerian Aviation Handling Company Plc

2.22

2.28

-2.63%

3,605,765,625.00

0.15

15.82

0.48

8.37%

0.65

50 Fidson Healthcare Plc

1.23

1.27

-3.15%

1,845,000,000.00

0.24

5.14

0.28

4.13%

0.28

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd

22 Oando Plc

26 Transnational Corporation Of Nigeria Plc 27 U A C N Plc 28 Fidelity Bank Plc 29 Cap Plc

35 Cadbury Nigeria Plc 36 Wema Bank Plc 37 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,595,033,624,544.64

TOTAL MARKET CAP

9,132,084,256,871.70

% OF MARKET CAP Annotation - MA* = Simple Moving Average

94.12%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion)

Open 19-Dec-16

Close 20-Dec-16

Change %

26,586.56 9.15

26,540.87 9.13

-0.17 -0.17

110.59 8.61

110.39 8.60

-0.18 -0.18

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Table 3 Top 5 Gainers Stock

Open Close Change 19-Dec-16 20-Dec-16 %

National Salt Co. Nig. Plc Julius Berger Nig. Plc UACN Property Development Co. Limited Sterling Bank Plc Wapic Insurance Plc

7.22 36.75 2.08

7.60 38.58 2.18

5.26 4.98 4.81

0.72 0.50

0.75 0.52

4.17 4.00

Table 4 Top 5 Losers Stock

Open Close Change 19-Dec-16 20-Dec-16 %

Forte Oil Plc. Unilever Nigeria Plc Ecobank Transnational Incorporated Mansard Insurance Plc Fidson Healthcare Plc

104.91 39.57 12.04

94.69 36.00 11.45

-9.74 -9.02 -4.90

1.64 1.27

1.56 1.23

-4.88 -3.15

ASI sheds 0.17% of value as Market loses consecutively Market pulse on the Nigerian Stock Exchange (NSE) today – Tuesday, December 20th, 2016 ends on a bearish note as stock market closed red today. This was further highlighted by negative performances from the NSE Subsectors: Banking, consumer Goods and Oil & Gas (save Insurance) Trading activities decreased in volume as 247.71 million shares worth of N3.10 billion in 3,271 deals exchanged hands today. This is a decrease from the 262.89 million shares worth of N1.75 billion in 2,789 deals which exchanged hands on Monday. Topping in volume terms were Nigerian Breweries Plc, GTB Plc and Zenith Bank Plc, while UBA Plc, FBNH Plc and Zenith Bank Plc ended trading as the most active stocks in value terms.

The All Share Index (NSEASI) closed negative with 0.17% (-45.69) decrease to close at 26,540.87 from 26,586.56 the previous trading day. Market Capitalization depreciated in tandem to N9.13 trillion from N9.15 trillion of prior trading day. Similarly, the Thisday BGL 50 Index followed suit with decrease of 0.18% to close at 110.39 from 110.59 recorded at the end of the previous trading day, while its market capitalization stood at N8.60 trillion from N8.61 trillion of the previous trading day.

A total number of 21 stocks gained on the bourse today while 20 stocks declined, 60 leaving stocks unchanged. NASCON Plc emerged as the day’s toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 5.26% to close at N7.60 per share. It was followed by Julius Berger Nigeria Plc with a gain of 4.98% to close at N38.58 per share. Others on the gainers list include: UACN Property Development Co. Limited, Sterling Bank Plc and Wapic Insurance Plc while on the decliners’ list, Forte Oil Plc emerge with a loss of 9.74% to close at N94.69 per share. It was followed by Unilever Nigeria Plc with a loss of 9.02% to close at N36.00 per share. Others on the decliners list include: Ecobank Transnational Incorporated, Mansard Insurance Plc and Fidson Healthcare Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

44

T H I S D AY • WEDNESDAY, DECEMBER 21, 2016

MARKET NEWS

Mobil Oil Shareholders to Reap More Capital Appreciation Goddy Egene and Nosa Alekhuogie Minority shareholders in Mobil Oil Nigeria Plc are to enjoy more capital appreciation on their shares as Nipco Plc may buy their shares at N420 per share. Nipco Plc, an indigenous Nigerian downstream oil and gas company, is acquiring 60 per cent stake in Mobil Oil Nigeria Plc for $301 million or N91.8 billion and has ap-

plied to the Securities and Exchange Commission (SEC) for approval of this acquisition.

This transaction translates to N432 per share, which is a huge premium from the current market price of N280.

However, if this acquisition is approved by SEC at the price, Nipco being a holder of more than 60 per cent of the company would need to comply with the provision of the Investment & Securities Act

T H E MAIN BOARD

DEALS

MARKET PRICE

by buying shares of minority shareholders at the same price of N423 through a mandatory takeover bid.

This would be a massive price appreciation to be enjoyed by minority shareholders of Mobil during the mandatory take over process. The shares of Mobil have witnessed an unprecedented rally since Nipco Plc signed the sales purchase agreement on October 17, 2016.

The shares which stood at N186

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES Diversified Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

on that day have soared to N280, indicating a jump of 127 per cent.

Shareholders of Nipco last week approved the acquisition at an Extra-ordinary General Meeting Speaking on the acquisition, the Managing Director of Nipco Plc, Mr. Venkataraman Venkatapathy had said the company considered it acquisition an important synergy.

“It is part of our strategic

6 6 12

30.00 34.00

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

19 19 31

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

27

2.69

614,065

1,572,223.05

move to support Nipco’s continuous growth and expansion of its Nigerian retail footprint.

We are confident of adding tremendous value to Mobil Oil Nigeria and likewise Mobil Oil will add a huge value to Nipco. In furtherance of this value addition, Nipco will continue to maintain the Mobil brand on its retail outlets as well as continue to blend and sell the Mobil brand of lubricants under Branding Licence(s) from

ExxonMobil,” he said.

According to him, Mobil Oil will continue to run as a separate, distinct and independent company, from Nipco Plc, each with its own CEO who will report to its board of directors .

He added that Mobil Oil will continue to maintain the Mobil brand at its retail outlets as well as blending and selling Mobil brand of lubricants under branding licensee [s] from ExxonMobil.

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

45

wednesdAY, december 21, 2016 • T H I S D AY

MARKET NEWS

FMDQ OTC Registers Sterling Bank N100bn CP Programme Goddy Egene FMDQ OTC Securities Exchange has registered the Sterling Bank Plc N100 billion Commercial Paper (CP) Programme on its platform.

This registration followed the due approval of the FMDQ Board Listings, Markets and Technology Committee and serves to further instill confidence in the possibilities of the Nigerian financial market, given the current economic climate.

By registering and

subsequently quoting the Sterling Bank CP Programme on FMDQ’s platform, stakeholders benefit from the continuous provision of invaluable information as part of the OTC Exchange’s commitment to organise, govern and enforce transparency in the fixed income market space. An FMDQ quotations service avails, among others, credibility for quoted CPs and global visibility via the FMDQ website and the FMDQBloomberg Trading System (E-Bond). Having

A Mutual fund (Unit Trust) is an investment vehicle managed by a SEC (Securities and Exchange Commission) registered Fund Manager.

Investors with similar objectives buy units of the Fund so that the Fund Manager can buy securities that willl generate their desired return.

An ETF (Exchange Traded Fund) is a type of fund which owns the assets (shares of stock, bonds, oil futures, gold bars, foreign currency, etc.) and divides ownership of those assets into shares. Investors can buy these ‘shares’ on the

successfully commenced and developed its listings and quotations process, FMDQ has, in line with international standards, facilitated and contributed, in no small measure, to the growth and competitiveness of the Nigerian fixed income market.

According to the FMDQ OTC, the timely and efficient registration of the Sterling Bank CP Programme is a validation of one of its core mandates towards revolutionising the Nigerian debt

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 19-Dec-2016, unless otherwise stated.

capital market.

“By playing host to several bond issues and CP quotations, including the listing of the Federal Government of Nigeria Bonds and the quotation of the Nigerian Treasury Bills, amongst others, the OTC Exchange has continued to provide the much-needed confidence and protection to issuers and investors respectively, whose direct and indirect activities play an important role in enhancing the vibrancy of the nation’s economy,”

the exchange said.

Commendably, within the fourth quarter of 2016 alone, issuers such as UACN Property Development Company Plc, C & I Leasing Plc, FSDH Merchant Bank Limited, Dufil Prima Foods Plc, Ecobank Nigeria Limited, Sterling Investment Management SPV PLC and Wema Funding SPV Plc have been listed and quoted their respective debt securities on FMDQ’s platform.

These are in addition to the

pioneer memorandum listed money market fund, the Greenwich Plus Money Market Fund, recently admitted to the OTC exchange.

“In line with its strategic objectives, FMDQ continues to refine its processes with a view to innovating and further providing opportunities within the markets under its purview, to support institutional growth and the continuous development of the economy at large,” the exchange said.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Afrinvest Equity Fund 125.39 Nigeria International Debt Fund 221.59 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 126.40 15.11% 222.98 10.73% info@acapng.com Offer Price Yield / T-Rtn 0.70 13.13% ammf@aiicocapital.com Offer Price

Yield / T-Rtn

100.00

17.74%

enquiries@arminvestmentcenter.com Bid Price 12.40 288.48 22.18

Offer Price 12.77 297.18 22.85

Yield / T-Rtn 1.73% 3.21% 0.59%

1.00

1.00

16.68%

investmentcare@axamansard.com Bid Price 109.52

Offer Price 110.20

Yield / T-Rtn 9.86%

1.00 1.00 14.55% investmentmanagement@chapelhilldenham.com Bid Price 2.14 9.18 83.28

Offer Price Yield / T-Rtn 2.19 5.10% 9.41 -6.86% 85.42 2.68% invest@fbnquest.com

Bid Price 1,085.07 110.70 100.00 $104.09 $103.40

Offer Price 1,086.27 111.47 100.00 $104.32 $103.63

Yield / T-Rtn 5.81% 5.05% 15.02% 7.64% 6.96%

114.37

13.61%

112.84

fcamhelpdesk@fcmb.com Bid Price 0.92 2.56

Bid Price 2,181.30

Coral Income Fund 2,095.02 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 0.93 1.65% 2.56 9.99% coralfunds@fsdhgroup.com Offer Price 2,205.93

Yield / T-Rtn 0.26%

2,095.02 10.73% enquiries@investment-one.com Offer Price

Yield / T-Rtn

Vantage Guaranteed Income Fund

1.00

1.00

15.88%

Vantage Balanced Fund

1.67

1.69

2.31%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.00 1.02 12.47% Lotus Halal Fixed Income Fund 1,004.29 1,004.29 0.43% 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 9.59 9.68 -1.94% 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 1.05 1.06 6.28% PACAM Fixed Income Fund 10.43 10.51 4.69% PACAM Money Market Fund 10.00 10.00 15.09% 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 108.68 109.06 6.50% SFS CAPITAL NIGERIA LTD investments@sfsnigeria.com Web: www.sfsnigeria.com, Tel: +234 (01) 2801400 Fund Name Bid Price Offer Price Yield / T-Rtn SFS Fixed Income Fund 1.24 1.24 9.86% 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 1,821.92 1,832.08 8.48% Stanbic IBTC Bond Fund 153.13 153.13 4.11% Stanbic IBTC Ethical Fund 0.76 0.77 2.00% Stanbic IBTC Guaranteed Investment Fund 185.89 185.89 9.55% Stanbic IBTC Iman Fund 130.38 132.01 -3.65% Stanbic IBTC Money Market Fund 100.00 100.00 17.01% Stanbic IBTC Nigerian Equity Fund 7,528.89 7,626.81 4.74% 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 8.20% United Capital Bond Fund 1.22 1.22 16.92% United Capital Equity Fund 0.66 0.67 -1.23% 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 9.61 9.78 0.74% Zenith Ethical Fund 11.08 11.17 -3.31% Zenith Income Fund 17.07 17.07 6.41%

REITS

NAV Per Share

Yield / T-Rtn

11.58 123.32

3.99% 6.44%

Bid Price

Offer Price

Yield / T-Rtn

8.77 75.99

8.87 77.43

-8.41% -8.69%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.75 7.03 12.05 15.13 127.80

2.79 7.11 12.15 15.33 129.80

20.17% 9.95% -2.78% -21.13% -

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

46

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

NEWSXTRA

Sanni, Keyamo, Others Demand Fresh Probe into Bola Ige’s Murder We are innocent of murder, Oyediran insists

Gboyega Akinsanmi in Lagos and Yinka Kolawole in Osogbo The Senate Committee Chairman of Foreign and Domestic Debts, Sen. Shehu Sanni, a human rights lawyer, Mr. Festus Keyamo and other civil rights campaigners have asked President Muhammadu Buhari to institute a fresh probe into the murder of former AttorneyGeneral of the Federation, (AGF), Chief Bola Ige. The rights activists called for fresh probe at an annual symposium the Bola Ige Centre for Justice organised in honour of the late at the Lagos Airport Hotels, Ikeja yesterday.

At the symposium attended by hundreds of politicians, lawyers and rights campaigners among others, Sanni urged the Buhari government to urgently open up fresh probe into the murder of Ige so that justice could be done.

He explained that there “is a strong evidence of state’s participation in Ige’s murder on the fact that the suspects were shielded and promoted.

Keyamo’s narration is a better evidence to open up fresh probe in the matter.”

The lawmaker explained that it was not too late for the government “to institute fresh probe in the murder of Ige. If we do not do it, the spirit of Ige

will continue to hunt Nigeria until justice is done.”

Sanni lamented that it had almost be the pattern that whenever a high profile murder was committed, the police would be serious only for them to cool down after the attention of the media in the case had waned.

He also said the police would always parade innocent criminals in their prisons as suspect in the murder in order to deceive the public that they are working, stressing that it was glaring that the police and the government then fully participated in the murder of Ige as evidence had shown.

Sanni assured that when the Senate was back from recess, he would sponsor a motion on the floor of the upper chamber to pressurise the government of Buhari to open fresh probe in the murder of Ige. Also at the symposium, Keyamo, who played key roles in unraveling what led to Ige’s murder, provided vivid account of state’s complicity in the murder of the late attorneygeneral, thus calling for a fresh probe.

Keyamo narrated what happened immediately after Ige’s murder and how Olugbenga Adebayo (a.k.a Fryo) opened up on how the murder was planned, fingering Iyiola Omisore, who was the Deputy

Governor of Osun State then.

After two journalists brought Fryo to him with all his confession documented, Keyamo said the police which had earlier declared him as wanted as the prime suspect, suddenly turned around to dispute his confession because the power that be had been involved.

He explained that the state “is culpable in Ige’s murder. Ige had eight days earlier before he was assassination assaulted publicly by Omisore at Ooni’s palace. As a result of that a red flag should have gone up in the security sector to protect him. The government of the day should have known and protected him. How can you have a Minister of Justice assaulted outside and nothing was done about it?”

He lamented that the police accused him of tutoring Fryo what to say when the evidence

were there to show that he was saying the right thing, adding that earlier before Ige was murdered, Omisore and the rest had celebrated his humiliation at the Ooni’s palace in an hotel in Osun.

He added that instead of the police to act on Fryo’s evidence to nail the culprit in the murder, the police were struggling to disprove the confessional statement of Fryo because the statement he made were seen as unpalatable to the palace.

“The police were more interested in disproving Fryo’s statement. They arrested the two journalists who brought Fryo to my office and took them to Abuja and tried to make them counter the statement but they refused. I was also arrested and taken to Abuja where I was told that the suspect said he did not make such statement.”

Meanwhile, one of those

arrested but later released in connection with the murder of Ige, Mr Lekan Oyediran, has contended that he and 25 others arrested were innocent.

He noted that he lost his investment in a drug store and suffered the death of his wife before he could gained freedom.

He stated this at the 15th years remembrance and memorial lecture of Hon Odunayo Olagbaju , who died in 2001 during the crisis that rocked Alliance for Democracy (AD).

However, at the occasion held at Ile-Ife, Osun State, political associates, friends and families of the deceased eulogised him for “fighting for the oppressed”.

Oyediran, who was a lawmaker in Osun State between 1999 to 2001, asked that those accusing them (arrested suspects) needed to be probed for Ige’s death.

He stressed, “I have no regrets.

The only regret I have is that the

people we fought for did not deserve it. That struggle also had a little of youthful exuberance.

“We didn’t fight that struggle with enough maturity that time.

“We fought a good fight, we identified with the right people but we could have also done it in a different way or with a different approach.

“All the 24 of us that were arrested in relations to the death of Bola Ige are all innocent. We didn’t know anything about it. I spent almost two years there. I lost everything; I am a pharmacist; I lost my chemist and even my wife before I came back.

“So, it is a kind of thing that makes me sad a lot. Omisore is very innocent of the killing The investigation carried out by the Nigerian police and all the security agencies exonerated Omisore and all other suspects arrested along with him.”

Nigeria’s Democracy Second to US, Says INEC Onyebuchi Ezigbo inAbuja The Chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, has said democracy in Nigeria could rank second to that of the United States of America in terms of size and complexity.

He said the country currently boasts of about 70 million registered voters.

The INEC Chairman made the disclosure yesterday when a delegation from the Camerounian Election Management Body, Elections Cameroon (ELECAM), led by an Assistant Director in the Commission, Mewoand Hugues Erick, visited the headquarters of INEC in Abuja.

He averred that: “We have the largest biometric voter register in the whole of Africa and one of the largest in the world. We have about 70 million registered voters.

Our own presidential democracy is only second to the United States in terms of size. We will be very happy therefore to share our experiences in terms of voter registration, the cleaning up of the voter registry and the deployment of the biometric voter register.”

Yakubu explained that in 2015, INEC went completely electronic by deploying an electronic register with electronic voter cards, which were compatible with the Smart Card Reader (SCR).

These, he said, added value to the integrity of the process.

He expressed the willingness of the commission to share ideas and experience with the ELECAM in terms of voter registration, voter cards distribution and voter education.

The INEC Chairman said the commission was delighted that it had played to a number of election management bodies from other countries in the last one year, an indication that Nigeria’s electoral system and processes were being appreciated internationally.

“Be rest assured that you have a friend and partner in INEC, we will support ELECAM in the interest of democracy across our continent.

We will continue to work towards strengthening our democracy but our democracy should also be of help to democracies everywhere especially in our own continent,” he said.

Earlier, the leader of the delegation, Mewoand Hugues Erick, explained that their visit was aimed at sharing information and experience with INEC, especially in preparation for their country’s forthcoming presidential election in 2018.

He listed a few technical areas where INEC’s wealth of experience would be of immense help to Cameroun’s preparation for the conduct of its presidential election.

Erick requested experience sharing in terms of voter registration, distribution of voter cards, and voter education towards achieving maximum voter participation in the electoral process.

WE ARE PROUD OF YOU...

Vice President, Prof. Yemi Osinbajo (SAN), presenting a book to Emmanuel Andrawus, one of the winners of the federal governmentsponsored ‘2016 Protecting Education Advocacy Challenge (PEACH). With them is the Senior Special Assistant to the President on Internally Displaced Persons, (IDPs), Dr. Mariam Masha, during a meeting with school-aged children residing in IDP camps and host communities across the three states of Adamawa, Borno and Yobe at the Presidential Villa, Abuja...Monday December 19,2016.

Mahama Extols Adenuga’s Pivotal Role in African Telecoms The pivotal role played by Globacom Chairman, Mr. Mike Adenuga, Jr., in the development of Africa’s telecommunications landscape has been commended by President John Dramani Mahama of Ghana.

He noted that Adenuga’scourageous foray into the telecommunications industry hitherto dominated by foreign investors had brought joy and pride to all Africans.

Mahama made the observation during his induction into the Ovation Hall of Fame held as part of the 2016 Ovation Green Carol sponsored by Globacom in Lagos. He explained that Adenuga’s accomplishment on the continent was why “our nation recently conferred Ghana’s highest award of the Companion of the Star of Ghana (CSG) on him.”

“Adenuga is one African

who had broken through in telecommunications and entrepreneurship as a whole. From my experience since I was a Deputy Communications Minister and later Communication Minister, the industry was dominated by foreign companies until Adenuga came with his submarine cables and innovations. That was why we recently presented him with the highest award. It is good to honour our foremost business people,” the Ghanaian President stated.

He equally commended the Publisher of Ovation Magazine, Chief Dele Momodu, for his giant strides in the last 20 years of publishing Ovation Magazine and the success of the ninth edition of the Ovation Carol.

He described Momodu as “a panAfricanist, a passionate believer in

democracy, a patriot and a comrade.”

Mahama also spoke on his loss in the just-concluded elections, saying: “While I might feel disappointed that Ghanaians did not see what I was trying to do, the will of the people must be respected. In four years time, there will be another election and the people will speak.

Let the narrative be that Africa is developed. I have moved on and will hand over on January 7.”

Globacom’sCommercialCoordinator, Enterprise Business Group, Mr. Folu Aderibigbe, who spoke on behalf of the company at the carol, said Globacom was motivated by the desire to impact people positively.

“From the per second billing which made telecommunications services accessible to all, to our numerous firsts culminating lately, to the speed of life, the Glo 4G LTE, we

have always ensured provision of quality products at affordable rates to our esteemed subscribers. This is our bond with Nigerians and we assure you that we will never renege on this.”

He added: “It is also for this reason that we have continued to partner with laudable initiatives like the Ovation Carol, an international star-studded musical fiesta organized to give thanks to the Almighty for His numerous mercies in the out-going year.”

Other highlights of the event were the induction of Juju maestro, King Sunny Ade, into the Ovation Hall of Fame, and presentation of cash rewards to the family of late OJB Jezreel and Cymbals Dance Crew. A Ghanaian, Mr. Richard McCarthy, was also rewarded with N500,000 for his efforts in taking Ghanaian kids off the streets through boxing.

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

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NLC Threatens Strike If N56,000 Minimum Wage is Not Implemented The Nigeria Labour Congress (NLC) has threatened a nationwide strike in May 1,2017 if the federal government does not begin implementation

of the N56,000 new national minimum wage it proposed or even set up a committee to that effect.

This was made in a

Obasanjo, Ekwueme, Governors, Others Expected for South-east Economic and Security Summit Top economic and political leaders in Nigeria especially those of South-east extraction will come together at the Government House Enugu tomorrow, December 22, 2016, for the maiden South-east Economic & Security Summit.

The summit, which is an initiative of the South-east Economic & Security Summit (SEESS) Group, a nongovernmental organisation made up of top business, military, political, religious and community leaders from Nigeria’s southeast region - is aimed at addressing real issues affecting the peace and development of the southeast, proffering practical solutions and initiating a definitive course of action with pragmatic delineation of roles towards fast-paced economic and secure advancement of the region.

According to Professor Barth Nnaji, a former Minister of the Federal Republic and Chairman of SEESS Group, “All five Governors from the southeastern states will be participating at the Summit,

and they will join other eminent personalities and delegates to discuss issues of common interest, including security, agriculture, infrastructure, health tourism, as well as financing the region’s economic program.”

In an earlier statement, Professor Nnaji had noted: “The summit will be a meeting where specific problems are defined, projects to address the problems are adopted, and what the various stakeholders roles - including that of the Federal Government - in solving the problems are also presented.”

SEESS 2016 is an invitationonly event with delegates drawn from the leaders of the South-east, Presidency, National Assembly, state governments, the diplomatic community, top local and international business leaders and investors, multinational corporations, bankers and financiers, the academia, security experts, civil society groups, religious bodies and other nongovernmental organisations.

statement by the President of the congress, Mr. Ayuba Wabba, during a meeting in Abuja.

According to the News Agency of Nigeria (NAN), he said: “The issue of minimum wage remains sacrosanct because of the fact that by law and practice, the review is due and overdue. I have said clearly that we cannot guarantee any industrial peace any longer if necessary steps are not taken by government to try to resolve this issue before the next May Day. “This is very clear because as we said, we have sent formal notice of demand as required by law to government to try

to constitute the committee.

“Essentially, the committee to dialogue and negotiate the minimum wage which is supposed to be tripartite has not been set up. If it is set up, all of you will be aware of the membership and also their terms of reference and the timeline given to them to actually dispose with this very vital issue.

“The issue is so sensitive because of the fact that a lot of our members have actually been subjected to a lot of difficulties because the purchasing power of ordinary Nigerian workers has been reduced to virtually nothing because of the inflation in the

system, the free fall of the naira and to compound it with high cost of goods and services.

“More so, most workers now cannot meet up with their daily needs, they can’t pay their rents, they can’t send their children to school.” “It is even more compounded because cost of goods and services has gone up. So, side by side with the issue of fighting corruption is also for workers to be paid a decent wage that they can be able to have a meaningful living, so, this is the challenge.

“They must see reason to try to accommodate it because the fact is very obvious that it is legitimately due both in

law and practice and therefore this is our approach.

“Therefore let us not mix two things, is there a resistant to say that there will be no review of minimum wage? I am not sure I have heard that because by our constant interaction, the government has through the Minister of Labour said they are also willing to review the minimum wage. “ As I said earlier, we have made a formal demand, written and therefore if there is the need to review the template, we will do that at the table but that will have to be jointly.

What we have submitted is N56,000 and therefore that N56,000 is still valid.”

IFMA Nigeria Inaugurates New Council Members Crusoe Osagie

The International Facility Management Association (IFMA), Nigeria chapter has formally inaugurated her newly elected Executive Council members at a recent ceremony in Lagos.

At the event, facility managers were charged to rise to a new level of reasoning and foster increased development in the discharge of their duties as they tap into the enormous economic opportunities available in Nigeria.

The event which was tagged Celebrating FM, also had a lecture titled “Utilizing FM to Unlock the Economic Opportunities in the Built Environment”. The lecture was delivered by The Dean, Faculty of Environmental Sciences, University of Lagos, Prof.

Timothy Nubi.

In his opening remarks, the immediate Past President of the Association, Mr. Olatunji Okesola, highlighted some of the achievements of his administration. He disclosed that the milestone he achieved came despite the current economic recession in Nigeria. He revealed his personal conviction that the more challenges grow in our environment, the greater the economic opportunities therein for all. “What FM does is to proffer real life solutions to every challenge that might hinder our best living” he stressed.

Okesola also added that Nigeria

has the potentials of becoming one of the greatest countries of the World if she properly harnesses and judiciously explores her enormous natural and human resources for the good of her citizens. “Nigerians have no business being jobless and or poor.

You will agree with me that our profession - Facility Management is uniquely positioned to lead this transformation agenda towards the greatness of our economy and by extension, the greatness of our dear Nation” he explained.

The new president, Mr. Pius Iwundu, in his acceptance speech, said that the new Council will continue to be consultative in discharging its duties as suggestion and opinion of members will be considered.

Iwundu added that, as facility managers, the integration of people, place, process and technology will be the major focus of his administration to ensure the functionality of the built environment.

IFMA was established in Nigeria in 1995 by a group of well-meaning professionals who subscribed to the cliché of courageous leadership to achieve premium quality performance in diverse areas. The aim of these multi-disciplined professionals from international institutions like Mobil and Chevron was to establish international standard of facility management and quality maintenance of structures in Nigeria.

EVEN THE KIDS LIKE HIM A child taking a selfie with Lagos State Governor, Mr. Akinwunmi Ambode (Second left), while Commissioner for

Information and Strategy, Mr. Steve Ayorinde (left) and Senior Special Assistant to the Governor, Mr. Idowu Ajanaku (left behind), watch during the 2016 Children End of the Year party at the Lagos House, Ikeja...yesterday

Former Senate President, Wabara Calls for Magu, Lawal’s Resignation A former President of the Senate, Adolphus Wabara, has called on the Acting Chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, to resign his appointment following indicting security reports about him.

Wabara, who made the call in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja, also called for the resignation of on the Secretary to the Government of the Federation (SGF), Babachir Lawal.

The Senate had called for the resignation of Lawal for his alleged involvement in diversion of funds meant for humanitarian services in the North-east.

Wabara urged the duo to resign on moral grounds, saying it did not matter if the allegations against them were proved or not.

“They should go. When Obasanjo alleged corruption matter against me I resigned, I resigned to face it. So I mean you resign,” Wabara said.

“Whatever position anybody is occupying is not his father’s position. If there is a moral issue, it doesn’t even have to be proven.

You give way to fight it.

“One thing is very clear, it is not witch-hunting. If it is happening to a senator, Nigerians will say yes go ahead and do it but this reports are coming from outside of Senate.

“They did not go there to write or originate the reports and it is their right, it is the right of the Senate to work on any report that they receive judiciously.

“What is constituency project when you have very damning and damaging report against the SGF. It is for them to investigate and determine the veracity of that report.

“If the report is really against the SGF, for moral reasons he should go,’’ he said.

On whether or not the recent development was a witch-hunt on the part of the lawmakers against Magu, Wabara said the Senate had powers to carry

out its responsibilities for the sustenance of democracy.

“The Senate has every power to confirm or not to confirm. In this case it is not now a senate problem, or senate issue. There were security reports from outside the senate for the consideration of the senate.

“There were security reports that they received that led to what happened. So, I don’t want to blame the senate.

“The senate did not originate the security report on Magu, Magu is a very amiable character but if you as a journalist should go into the authenticity of the reason and the report that the senate received, they did not originate it.

“If they had originated it would have been a different ball game.

They had to work with the reports and they took that decision,’’ he said.

On the fight against corruption, the former president of the senate said it was not holistic.

According to him, “I think the administration is fighting corruption unfortunately it looks

as it is about just one man that is doing that.

“To me the only man fighting corruption is only the president.’’

In a similar development, the former Deputy Governor of Plateau State, Pauline Tallen, told NAN that anybody found wanting should be brought to book.

“Whatever are the issues surrounding the nonconfirmation of the acting chairman, by the grace of God it will be resolved between the Presidency and the National Assembly.

“So, I don’t think people should break their heads over this issue, it will soon be resolved by the grace of God. “If one is found guilty on anything concerning corruption he should face the music, once the facts are there, nobody should be above the law,’’ she said.

The Senate had rejected the nomination of Magu as Substantive Chairman of the EFCC over indicting security reports.

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WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

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NNPC Abandons Quick Fixes, to Fully Rehabilitate Refineries in 2017 Kachikwu plans oil and gas investment tours to US, Gulf states Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) has said it would no longer undertake short and stop-gap repairs of its refineries in Port Harcourt, Warri and Kaduna, but will from 2017 embark on a comprehensive rehabilitation of them to achieve optimal capacity utilisation.

A statement from the Group General Manager Public Affairs of NNPC, Ndu Ughamadu yesterday in Abuja stated that the Chief Operating Officer of Refineries of the NNPC, Mr. Anibor Kragha, made this disclosure at the annual general meetings (AGM) of the three refineries in Abuja.

Kragha stated that the corporation was determined to move away from the approach of quick fixes and undertake a comprehensive revamp of the plants.

He also noted that once the exercise was achieved, the refineries would in due course draw up a chart for their routine Turn Around Maintenance (TAM).

“The plan for next year is to get the comprehensive rehabilitation programme done.

The situation is like having three cars in your garage that have not been maintained for 15 to 20

years while you expect optimal performance from them.

“Changing one fuel pump here, one compressor there is not helpful. What we are doing now is to step back and take a holistic approach and do a full rehabilitation of all the refineries,” Kragha stated.

He also said on plans to have other refineries co-located with the existing refineries, that though the plan was still on course, non of the projected co-location refineries would come on stream in 2017 based on existing timeline for assemblage of the plants.

Kragha equally explained that the Port Harcourt Refinery which plans to commence the production of Aviation Turbine Fuel (ATK) for domestic consumption was a few steps away from achieving this.

He said: “We are very close; we have done tests with some of the key marketers. We have achieved all the parameters, we just want to be 110 per cent certain.”

The statement equally noted that the Managing Director of the Kaduna Refining and Petrochemicals Company, Mallam Idi Mukhtar Maiha, said the refinery was assiduously working towards a target of 75 per cent capacity utilisation in 2017 based on projected supply of one cargo

of crude oil per month.

Similarly, the Managing Director of Warri Refining and Petrochemicals Company, Solomon Ladenegan, stated in the statement that despite the hostile operating environment fraught with incessant cases of pipeline vandalism and outright product theft, the refinery was looking forward to better days ahead.

Meanwhile, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, yesterday disclosed that he would soon jet off to the United States and Gulf States to convince their investors to invest in Nigeria’s domestic petroleum refining sector, as well as restore the country’s sale of crude oil to the US. Nigeria had lost its crude oil marketing status to the US following the latter’s discovery of Shale oil.

Also, the Gulf States are

called Persian Gulf States, and oil-producing countries on or near the Persian Gulf.

They include Bahrain, Iran, Iraq, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates (UAE).

A statement from the Director of Press in the ministry, Idang Alibi, y in Abuja, however, stated that the minister made this disclosure when he hosted members of the House of Representatives Committee on Petroleum (Upstream) who were on an oversight visit to the ministry.

According to the statement, Kachikwu told the lawmakers that his road shows to China and India have secured for Nigeria Memoranda of Understandings (MOUs) worth about $80 billion and that efforts are now on to give effect to the MOUs so that real money can enter into the domestic economy.

He also said his next port of

call in terms of an investment road show was the Gulf States from which Nigeria hopes to secure investments especially into the refinery sector.

The minister stated that he also has his eyes on another commercial road show to the US where he hopes to ensure that Nigeria gets back her crude oil market in that country.

Speaking on the federal government’s investment preference for the country’s refineries, Kachikwu said they would not be concessioned or privatised but would invite private sector investment which could eventually lead to their joint ownership and management for greater efficiency.

He noted that the government was working hard to bring in private investment capital to strengthen the refineries in order to boost the nation’s local refining capacity.

He stated further that for the purpose of efficient management of the refineries, government money would not be committed to the refineries any more.

According to him, prospective private investors will bring in their money, take part in managing the refineries and from there, and recoup their investment.

The statement explained that the Chairman of the Committee, Victor Nwokolo, in his remarks, stated that they were in the ministry to get first hand briefing on its activities, achievements, opportunities and challenges to enable the committee know what support it can give.

The minister in stating the achievements of the ministry, told the committee that the deregulation of the downstream petroleum sector in June had ensured that petrol was available at filling stations across the country.

Five Parties Jostle for 17 Chairmanship, 292 Council Seats in Abia LG Polls Emmanuel Ugwu in Umuahia

After almost 10 years of flight from the local government system, Abia State democracy is set for a return as voters go to the poll today to elect 17 chairmen and 292 councilors across the state.

The state last witnessed local government election in 2007 at the end of Orji Uzor Kalu’s administration, and at the expiration of the tenure of the elected council officials, successive caretaker committees were appointed to run the 17 councils.

However, the state Governor, Okezie Ikpeazu, after initial dillydallying over paucity of funds to hold council poll, has decided to end the cycle of appointing caretaker committees to run the councils, and therefore, directed the Abia State Independent Electoral Commission (ABSIEC).

The state electoral body ran into a hitch in its preparations for the poll as the owner of the rented property it is occupying sealed it off over unpaid rent amounting to over N8 million.

As the anxiety started mounting over the likely effect of the rent issues on the council poll, it was gathered that ABSIEC and its landlord has agreed to settle the issue amicably.

Aside from the Peoples Democratic Party (PDP) which has 17 chairmanship

candidate and 292 councillorship candidates, four out of the opposition parties are fielding candidates for the elective positions. They include All Progressives Grand Alliance (APGA) with 13 chairmanship and 153 councillorship candidates while All Progressives Congress (APC) has 11 chairmanship and 71 councillorship candidates vying for the seats.

Labour Party is presenting two chairmanship and four councillorship candidates while the Progressives Peoples Alliance (PPA) could only afford to present 12 councillorship candidates.

Chairman of the state chapter of Inter-Party Advisory Council (IPAC), Chief Emeka Okafor, told THISDAY that the chairmanship candidates presented by PPA could not afford to pay the nomination fees of N400,000 charged by the state electoral body.

Meanwhile, the PDP, which is the only party mounting robust campaign for the council poll, has concluded its zonal campaign rallies which ended last Monday at Ohafia where party flags were presented to the five chairmanship candidates for Abia North zone.

The state Deputy Governor, Ude Oko Chukwu, while addressing the party faithful from the five local government areas that comprise Abia North zone, charged them to ensure that the ruling party scored 100 per cent at the poll.

OVER TO YOU SIR

Former Secretary to the Edo State Government, Prof. Julius Ihonvbere (left), handing over the report of strategic dialogue to Governor Godwin Obaseki in Government House, Benin City...yesterday

Postmaster General: Why Establishing NIPOST Bank is Not Feasible Now

Dele Ogbodo inAbuja

The Post Master-General of the Nigeria Postal Service (NIPOST), Mr. Bisi Adegbuyi, yesterday said the federal government has laid to rest consideration for the establishment of NIPOST bank as such project is not feasible under the present economic realities and dispensation.

Adegbuyi, who fielded questions at the sideline of its 2015 Merit Awards ceremony for its deserving staff in Abuja, said NIPOST would however go into agency banking because of the nature of its economic environment.

He said: “I think that issue has been laid to rest on whether a country needs a post bank is a function of its peculiarities. There is a post bank in India. There are no

post banks in Kenya and United States.

“What we are likely to do here in Nigeria, having looked into our peculiarities and circumstances, is to go into agency banking.

“If commercial banks today are closing some of their branches in rural areas because of innovativeness and technologies, I don’t think that is a route for us to establish post bank in the country. What we will rather do is to create agency banking to increase our revenue.”

According to him, its technical advisers have advised that cocktail of payment settlement through agency banking and financial services can comparatively yield quick results without regards to its heavy, recurrent expenditure that is today a major albatross for the services.

On what he has been doing since assumption of office few months back, he said: “We have been laying foundation, though nobody will see such immediately.

“I have been working with men and women to bring about operational efficiency in the Nigerian postal services. And that calls for deployment of innovative services and technology.”

According to him, NIPOST will be deploying innovative technologies to improve operational efficiency, adding: “We are currently talking to ICT experts on how to reduce the recurrent expenditure content of NIPOST’s budget.

“With technology, NIPOST will improve its track trace operations which is the soul of the service anywhere in the world

“We want Nigerians to post letters or parcels and be able to track it on day-to-day basis, and migrating from the old analogue system to contenporary systems” For effective service delivery in the sector, he said a lot of things would have to change in the system, adding that this can only be done through the Procurement Act and passing into law the postal reform bill.

On the target of N1 trillion annually set up by the government, the postmastergeneral said: “Projections are supposed to guide you.

Budgets are supposed to be estimates of what you are supposed to do. If you put in the necessary parameters, you may be able to achieve it.

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Kukah: Poor Government Polices Plunged Nigeria into Recession Mohammed Aminu in Sokoto The Catholic Bishop of Sokoto Diocese, Bishop Mathew Hassan Kukah, yesterday attributed the current recession in the country to maladministration and wrong policies adopted by the federal government.

Speaking with journalists on his 40th anniversary in priesthood in Sokoto, Kukah maintained that the policies of the present administration was not properly thought through before implementation, which landed Nigeria into recession.

He emphasised that recession is a product of corruption and that Nigerians are paying the price for making wrong choices in the past.

“It is maladministration that produces corruption. Could we not have seen this so called recession coming?

“You can always tell when it

is about to rain. If you see the clouds gathering, sometimes you can smell the rain. You cannot go out on a journey without an umbrella and complain when it starts to rain. So, it is the choices that we made that landed us into this recession.

“The policies adopted by President Muhammadu Buhari’s administration has not been properly thought through.

Bad things happen in spite of good intention and that is why we ended up in this situation,” he said.

The cleric lamented that neither the government nor the citizenry was aware when the current recession and hardship would end in the country.

“We always talk about this recession and the hardship in the country but we have no idea when it will end.

“We are feeling the pinch but there is no clear conversation

with ordinary people to suggest what we need to do to come out of this recession,” the cleric stated.

On the mutual suspicion between Muslims and Christians in the country, Kukah attributed the issue to ignorance.

He posited that it was this lack of integration between the adherents of the two religion that is making it difficult to build a united Nigeria.

He appealed to the Northern elite to redouble efforts towards integrating the Muslim and Christian communities in the

North.

“Muslims and Christians meet at party headquarters, attend weddings together and other activities but I don’t know why Muslims in the North are afraid to enter a Church. And it is this fear that is making it difficult to build a united country.

“I have entered several mosques in Qatar, Jerusalem and even here in Sokoto during the wedding of the daughters of former Governor Aliyu Wamakko.

“It is ignorance that is responsible for 90 per cent of

our problems in Nigeria and it is a tragedy that we cannot pray together. We exploit the negative and stereotypical dimension of religion and it is this fear that Boko Haram has continued to exploit.

“I pray that during my lifetime religion will not be a tool of fear.

A situation where Christian and Muslim children will have an idea what the bible and Quran is. If they learn this, they will be able to understand one another.

We must enforce the right of children to have idea about one another and their belief,” Kukah

averred.

On his 40 years in priesthood, Kukah described the journey in the last four decades as wonderful and expressed gratitude to Nigerians and particularly public officers for their support.

“When I look back at 40 years, I look at years of blessings that came from nooks and crannies of this country. I want to thank the Catholic Church, public officers and Nigerians for giving me this opportunity, as they have enriched my life,” he added.

Nigerian Army to Set up Cattle Ranches Nationwide Says investment not link to herdsmen, locals clashes Paul Obi in Abuja

chicken and their eggs.

He maintained that “the The Nigerian Army yesterday intention of the Nigerian said it would soon commence Army was not just to secure the establishment of cattle the country, but to contribute ranches across the country as in growing the economy of the part of the strategic Barrack nation.”

Investment Initiative Project.

Burutai said: “We want to The Chief of Army Staff, tell our wives that they can Lieutenant General Tukur live beyond the salaries of their Buratai, made this known husbands, so we are trying to yesterday at the inauguration empower the women in the of Mogadishu Cantonment barracks to be able to form New Mammy Market also, co-operatives, so as to access formerly known as Abacha loans and to a large extent be Barracks, Abuja. able to fend for themselves and He explained that the their families, even without the Nigerian Army would be salaries of their husbands.” raising up cattle ranches in such Though, the move by the a manner that cattle would be army to venture into cattle reared in all the divisions and rearing might have been seen as brigades. a strategy to prevent herdsmen Buratai who was represented and locals clashes, Director of by the Chief of Army Logistics, Army Public Relations, Brig Major General Patrick Akem, Gen. Sani Usman, debunked said this was necessary given the such claims. need for the army to broaden Usman told THISDAY that, the scope of its investment drive. “No I want you to understand The army chief disclosed that that it is part of the Barrack in keeping up with modern Investment Initiative Project, it cattle rearing tradition, officers is the birth child of the COAS. of the army have been sent to “The army wants to Argentina to do some feasibility encourage families in the studies on how cattle were barracks to embark on reared and the potential therein. agricultural investment. The “Argentina has a population army alongside some NGOs of 41 million people, but it feeds is encouraging families to go about 400 million people around into farming, like in Ibadan, the world with its beef. they are into cassava.

“To take it to the next “It has nothing to do with level, we want to adopt a herdsmen and locals communal system where the cattle are clashes,” Usman submitted. not just free ranging coming Also, Commander Army from Sokoto to Port Harcourt, Headquarters Garrison, thereby making their meat tough Major General John Malu told to eat, the products will soon journalists that the formidable be coming from our own farms shopping edifice had over and ranches,” Buratai said.

2000 shops, 27 warehouses He noted that he had and a printing press owned created the Barrack by the Nigerian Navy.

Investment Initiative Project Malu stated that the as a platform that affords services of a private army family members the security firm has been opportunity of raising up contracted to oversee the fishing ponds, vegetable security of the market and gardens, fruits, livestock, its environs.

RECOGNITION FOR HARD WORK

L-R: An officer in the Office of the Accountant General, Delta State, Mr. Amechi Bayem; Controller, Internal Audit, THISDAY Newspapers, Mr. Nduka Ernest Moseri; and Major Afam of the 81 Division Finance, Nigerian Army, Bonny Camp, Lagos, during their elevation to Fellow of the Chartered Institute of Taxation, Nigeria (FCITN) in Lagos ....recently.

Ngige Reads Riot Act to Heads of Parastatals under Labour Ministry Senator Iroegbu in Abuja The Minister of Labour and Employment, Senator Chris Ngige, has read a riot act to the heads of agencies and parastatals under his ministry to find creative initiatives out of the country’s economic recession or be sanctioned.

To this end, Ngige warned that federal government would not tolerate incompetence from the parastatals and agencies of government, cautioning that the changing times demand dynamic leadership to meet the extant challenges.

The minister gave this marching orders yesterday during his working visit to the headquarters of three parastatals under the Ministry of Labour and Employment.

He said all hands must be on deck to push the nation out of recession by 2017.

Addressing the management and staff of the National Directorate of Employment (NDE), Ngige insisted that at a time Nigeria has

slided into recession, the NDE which has a special mandate for job creation ought to distinguish itself in the joint effort to move the country out of recession through massive job creation in the area of agriculture and mining which were hitherto neglected.

“We must battle recession from all fronts. We must take Nigeria out of recession in 2017 and the NDE shall lead the way. This agency must lead domestic production in agriculture and mining. Nigeria must stop the importation of rice and other items we can produce here. Therefore, the NDE must redesign its programmes for the 2017 to align with massive job creation in agriculture, to sufficiently feed the nation and create jobs en mass.”

At the headquarters of the Nigeria Social Industrial Trust Fund (NSITF), the minister tasked the management of NSITF, to expand the scope of the operation of the funds to capture Nigerians working in the private sector to enable them

benefit from the scheme as it is a noble scheme that is aimed at providing insurance cover and compensation for injuries and accident suffered at work places.

He regretted that certain challenges have made it impossible for NSITF to meet up with his mandate.

“The bitter truth is that NSITF has not lived up to expectations.

It is high time we changed our old ways so that the fund can fulfilled its mandate. We must show more seriousness and face the work more squarely,” he said.

During the visit to the National Productivity Centre (NPC), Ngige observed that: “One of the major problems facing the nation is its inability to adequately measure her productivity. No nation has ever made progress without proper attention to productivity measurement, in such a situation the citizenry is not productivity conscious, with serious consequences on national output and remunerations.”

The minister added that

“the present administration of President Muhammadu Buhari has productivity as a priority but a lot of Nigerians do not know and appreciate what you are doing, there is a need therefore for a lot of sensitisation.”

Earlier, the Director General of the National Productivity Centre, Dr. Kashim Yunusa Akor, revealed that the centre was working on development of productivity wage linkage system template aimed at ensuring that wage determination is guided by workers’ productivity amongst other variables.

The Acting Director General of the NDE, Mr. Kunle Obayan, in his remark, lamented the poor budgetary allocation to his agency, this he said has hampered the ability of the agency to perform optimally While the Acting Managing Director of the NSITF, Ismail Agaka assured the minister that his agency, come 2017 will work assiduously towards enlisting more companies into the scheme and respond promptly to claims.

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

50

NEWSXTRA

Fear Grips Ogun Residents as Lassa Fever Resurfaces, Claims Two Lives Health minister asks medical personnel to be vigilant and proactive Senator Iroegbu in Abuja and Sheriff Balogun in Abeokuta Fear

gripped

residents

of Ogun State over the re-emergence of the viral disease known as Lassa Hemorrhagic Fever (LHF) that has claimed

LUTH Graduates Second Batch of Biomedical Engineers The second batch of biomedical engineers, recently graduated from the Biomedical Training Centre of the LagosUniversity Teaching Hospital (LUTH).

The biomedical training centre was refurbished and equipped

by GE Foundation to train and build a sustainable pipeline of qualified medical engineers for the healthcare system in Nigeria.

GE Foundation’s involvement is in fulfilment of a commitment made by GE to work with other stakeholders towards developing a new Biomedical Equipment Training (BMET) project in Nigeria to address the need for locally qualified medical technicians to repair and service biomedical equipment.

The Project builds on successes from BMET projects in Rwanda, Honduras, Ghana and Cambodia, with the Foundation Partners, Engineering World Health, Inc. Statistics from the World Health Organisation (WHO) show that between 50-80 per cent of medical equipment are out of service in low-income countries after just two years of usage.

In Nigeria, 50 per cent of

hospital equipment are out of service and this puts added strain on healthcare delivery.

In a message at the graduation ceremony conducted at the LUTH Biomed Centre, the Chief Medical Director of LUTH, Professor Christopher Bode, congratulated the graduates for staying the course.

He noted that the centre is one of the best equipped in the whole of West Africa and saluted Professor Carmen Walker for her hard work over the years.

He reconfirmed the management of LUTH’s commitment to continue to support initiatives that build the capacity of health personnel in the country.

In Nigeria, the BMET training programme is delivered through 18, four-week-long modules, delivered over three years via the classroom, laboratory, field practicum, and exam components.

Students learn about healthcare technology management, computer skills, principles of medical device operation, and professional development.

two lives in the state capital, Abeokuta.

Exactly four months ago, the state government declared the state Lassa fever-free, but the viral disease has killed an assistant nursing officer, Adesuyi Abolanle and a mortuary attendant.

However, the duo identity who died due to the disease could not be ascertained but Adesuyi was said to have attended to a suspected Lassa fever patient, while the morgue attendant handled the corpse of the patient.

Due to the death of the duo, the hospital management in the state requested a test to be conducted at the University College Hospital (UCH), Ibadan where it was confirmed that the Lassa fever killed them last Friday and Sunday respectively.

Meanwhile, the

Commissioner for Health, Dr. Babatunde Ipaye, in a statement, called on the management and members of staff of the Federal Medical Center, Idi Aba in Abeokuta not to panic over the disease.

Allaying the fear of the staff, particularly the nurses, Ipaye said the situation does not call for unnecessary panic, adding that Lassa fever can only be transmitted by getting in contact with body fluid unlike that of Ebola which can be transmitted through air and some other means.

He said the state ministry in collaboration with FMC would quickly set up an isolation center at the premises to attend to emergencies of such, while urging the nurses to always attend to all patients in the most hygienically acceptable manner.

He added: “We are going

to immediately create an isolation center here at FMC to cater for unexpected cases and emergency on public health issues like Lassa fever to include others communicable diseases and have set officers out to confirm the root of the cases.”

Meanwhile, the Minister of Health, Prof. Isaac Adewole, has confirmed the death of a health practitioner as a result of Lassa Fever in the state.

Adewole announced this yesterday in statement by the Head, Media and Public Relations of Ministry of Health, Mrs. Boade Akinola, and mandated the National Centre for Disease Control (NCDC) to release a detailed brief as soon as it concludes it investigations.

He, however, called on members of the public to be calm, and seek care in health care facilities. Anybody with

symptoms which include fever, headaches, vomiting, should report immediately at the nearest medical facility.

“Healthcare professionals are reminded to test before treating for suspected malaria, and if the test is negative for malaria, to maintain a high index of suspicion for Lassa Fever. Lassa Fever is treatable when detected early,” the minister said.

Adewole further directed all medical personnel to report case of suspected Lassa Fever immediately to the state epidemiologist, who has been provided with the commodities, by NCDC to respond to cases.

He also enjoined health workers to take the necessary precaution in treating patients.

The minister further commiserated with the Nigerian Association Nurses and Midwives on the death of their member.

Mass Protest over Epileptic Power Supply in Niger State Laleye DipoinMinna Hundreds of people took to the streets of Minna, the Niger State capital yesterday to protest the epileptic power supply to the state capital and its environs.

The Abuja Electricity Development Company (AEDC) in the last couple of weeks has embarked on what it called “load shedding,” attributing the development to drop in supply from the national grid.

The protesters carrying placards with various inscriptions attempted to storm the Minna headquarters of the AEDC but were stopped by the police which blocked all the roads leading to the office.

The protests were said to have been organised by a relation of the state governor known as Usman Bello, the National Vice President of the Youth Council of Nigeria comrade Mohammed Mohammed and a former member of the House of Representatives, Alhaji Mamood (Foster ).

The protesters wore black dresses and black arm bands and were

led by a truck loaded with public address system which blared music which the demonstrators danced to.

THISDAY gathered that the police had earlier made the conveners to sign an undertaking that the protest would be peaceful and orderly though the police and other security organisations maintained a reasonable distance from the protesters as they moved from street to street chanting anti AEDC slogans.

The demonstrators presented their demands to the Regional Manager of the AEDC, Mr. Nazi Akubuko, who assured them that the poor electricity situation was already being addressed.

At the government house where they also predented their demands, Governor Abubakar Sani Bello promised to relay their message to the appropriate authoruty.

Recently, Governor Bello had said he had reported the AEDC to President Muhammadu Buhari, Vice President Yemi Osinbajo and the National Assembly asking for their intervention in the poor power supply situation in the state.

READ THIS YOUR EXCELLENCY

Director General, National Agency for Food and Drug Administration anf Control (NAFDAC), Mrs. Yetunde Oni (right), presenting copies of her agency’s publications to Governor Ibrahim Gaidam of Yobe State, when she paid a courtesy visit on him at the Government House, Damaturu.... yesterday

Biafra: EU Parliamentarians Demand Release of Kanu, Others EmmanuelUgwuinUmuahia Across section of European Parliamentarians have called on the European Union (EU) to intervene in the plight of the detained leader of the Indigenous People of Biafra (IPOB), azi Nnamdi Kanu and his co-detainees, Benjamin Madubugwu and David Nwawuisi,” saying that their ordeal was part of gross human rights abuses going on in Nigeria.

In a joint letter dated December 19, 2016 and addressed to the High Representative of the union for Foreign Affairs and Security Policy, Ms. Federica Mogherini, the

signatories comprising 16 Members of European Parliament (MEP) The European lawmakers also complained bitterly about “the continued violence towards IPOB supporters as perpetrated by the Nigerian government,” citing the killings of protesting Biafran activists by security agencies.

They noted that “since October 14, 2015, Kanu has been illegally imprisoned by the Federal Republic of Nigeria, despite being acquitted of all charges brought against him,” adding that in spite of acquittal by the competent courts in Nigeria, the federal government has continued

to detain the IPOB leader and his colleagues.

“It is clear that the fundamental human rights of Kanu, Madubugwu andNwawuisiarebeinggrosslyviolated.

HumanRightsWatchhavereportedof the violation of the defendants’ rights, including their right to a fair trial,” the MEPs said.

Specifically the MEPs want the HR to act on behalf of the EU and leverage on the relationship between the EU and Nigeria to compel the Nigerian government to release Kanu, MadubugwuandNwawuisiwithout further delay.

“On behalf of the EU, especially in

respect to the EU-Nigeria partnership, theNigeriaEUJointWayForward,the developments of the sixth Nigeria-EU ministerial dialogue and the fact that Nigeria is a recipient of EU aid, we call uponyouto:advocate the immediate and safe release of Kanu and his codefendants, Benjamin Madubugwu and Nwawuisi.”

The MEPs also demanded that the EU should “challenge the actions of the President Muhammadu Buhari, and the Nigerian Department of State Services in regards to the detention of Kanu, Madubugwu and Nwawuisi.

51

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

NEWSEXTRA

Buratai Warns Senior Officers against Delay in Payment of Troops’ Salaries, Entitlements Paul Obi in Abuja Following recent reports of protest by military troops over non-payment of their entitlement, the Chief of Army Staff, Lt. Gen. Tukur Buratai, yesterday warned senior military officers against any form of delay in the payment of salaries and entitlements of troops engaged in the fight against terrorism in the North-east.

The army chief gave the warning while declaring open a seminar on Integrated Payroll and Personnel Information System (IPPIS) for army personnel, in Abuja.

He contended that “prompt and accelerated payment of salaries and allowances to the fighting troops was one of the ways of boosting their morale.”

He stated that the objectives of the IPPIS were to ensure transparency, accountability and to improve the effectiveness of payroll administration in all the government ministries and agencies, he said the development would present new

challenges in the management of troops’ salaries and allowances.

“I approve this seminar and know that the implementation of IPPIS in the military will present new challenges in the management of troops’ salaries and allowances.

“I am hereby charging the finance corps to ensure that the nuances of transition are well understood so as to continue to boost the morale of the fighting troops,” he said.

He said: “We understand that seamless, timely and regular payment of personnel salaries and allowances are an essential ingredient for the sustenance of morale of the troops.

“This is especially important towards the current ongoing efforts at consolidating on the counter-terrorism efforts in the north eastern part of the country and indeed all other operations around the country.

He described the seminar as “an important step aimed at the sensitisation of all the relevant stakeholders in the pending migration of the military’s

payroll into IPPIS. “The implementation must be seamless, in order to continue to sustain the morale of the fighting troops, “he maintained.

He further stated that migration into the IPPS was in compliance with the directive of the federal government, adding that it was the integral part of the macro-economic public sector financial reforms.

“It is commendable and will no doubt set the pace for the much needed acceleration for

effectiveness in public service.

We view this as a welcome development.

“We then directed all the steps to be taken to direct our payroll into the IPPIS. This aligns with my vision to have a professionally responsive Nigerian army in the discharge of its constitutional roles,” Burutai noted.

In another development, the collaboration between the Nigerian Air Force (NAF) and British Military Advisory Training

Team (BMATT) produced another batch of trained NAF Regiment personnel.

According to the Director of Information and Public Relations, Nigerian Air Force, Group Captain Ayodele Famuyiwa, “the graduands comprise five officers and 200 airmen who graduated recently from the Regiment Training Centre (RTC), Kaduna, having successfully undergone the five-month Basic Regiment Courses

for officers and airmen respectively.

“The new graduands are expected to be deployed to the North-east to boost the current strength of personnel involved in the fight against the Boko Haram insurgency.”

He said: “The objective of the basic courses is to impart the participants with basic regiment skills and knowledge to enable them meet the complex demands of emerging security challenges.”

Obasanjo Assures Ghanaian President-elect of Nigeria’s Support Amby Uneze in Owerri Former President, Chief Olusegun Obasanjo, has told the Ghanaian President-elect, Mr. Nana Akufo Addo, that Nigerians will give him all the support he needs to succeed as the bond of friendship between Ghana and Nigeria is very strong.

Obasanjo prayed that the president-elect will run the affairs of Ghana like no one else has ever done, when he assumes office.

The former president spoke in Owerri, Imo State capital when he attended the Imo Day of thanksgiving as the guest speaker on December 19, 2016 at the Hero’s Square, with the Ghana President-elect, Addo in attendance, adding that all that Addo needs to do is to strengthen the relationship between Nigeria and Ghana.

Obasanjo stated that he was particularly delighted to join Imo people in thanking God for what He has used their governor to do in the state, stressing that he was amazed to see a new Owerri town because the Owerri capital he saw on arrival was quite different from the one he used to know.

He said: “Okorocha was my unpaid adviser who helped me in most of the good policies I initiated as a president. I want to congratulate him because he has changed the face of Owerri.

I know this city very well. As I came in today I came to ask, is this the Owerri that I used to know or another Owerri?”

The Ghana President-elect, Mr. Addo, in his speech at the event said ,“the relationship between Nigeria and Ghana should be an example of good relationship to the rest of West Africa. I am determined, following the mandate my people have conferred on me

to do everything to establish good relations with the leadership of this great country, Nigeria, because together we can work for the construction of a better Africa.”

He further stated: “We Ghanaians value so much our relationship with Nigeria which dates back to years. The stronger the relationship the better for the rest of African region. I cherish the progressive zeal I have seen in Rochas (Okorocha). In the next four years I hope to improve on the living standards of the Ghana people.”

Okorocha in his welcome speech at the event said the Imo Day of Thanksgiving is not for APC members in the state only but for the whole of Imo people not minding their political affiliations, adding that the thanksgiving event was organised for Imo people to thank God for what he has done in the lives of the state and her people, using him as the tool, remarking that the thanksgiving will attract more blessings to Imo people from God. He said all his administration has achieved in the state would not have been possible without God, thanking the former president and President-elect of Ghana, Nana Akufor Addo for honouring the invitation of the government and people of the state.

Chief Emmanuel Iwuanyanwu, who was the Chairman of the occasion described Okorocha as a statesman who knows when to play politics and when to offer leadership to his people, adding that as the governor of the state, he has never discriminated against people based on partisan politics but has continued to carry everybody along.

CELEBRATING WITH CHILDREN

Governor of Osun State, Rauf Aregbesola, and his wife, Sherifat, cutting a cake with the children at the 2016 Children end of year party at the Government House, Osogbo...yesterday

N535bn Intervention Fund: BoI Loans Achieve 95% SME Success Rate Damilola Oyedele in Abuja The Acting Managing Director of the Bank of Industry (BoI), Mr. Waheed Olagunju, has disclosed that Small and Medium Scale Enterprises (SMSEs) which were granted loans from the N535 billion intervention fund, have achieved 95 per cent success rates.

The intervention fund was provided to the BoI by the Central Bank of Nigeria in 2010, for a period of six years.

Olagunju noted that the high success rate was due to the provision of an enabling environment, and a strong monitoring mechanism implemented by the bank to help the SMSEs, run successfully.

Speaking before the House of Representatives Ad hoc Committee

investigating activities of federallyowned Development Finance Institutions (DFIs) yesterday, Olagunju said the success rate was above that of the industry average which he put at 11 per cent.

The committee is headed by Hon. Emeka Anohu (Anambra PDP).

Olagunju harped on the need to provide a business environment attractive to foreign and local investors, as a way to pull the country out of the current economic recession.

“Government cannot do much to reflate the economy except private investors bring in money. They are the ones who can help the economy out of recession. Industrialisation is a multi-faceted process that cannot be done by government alone,” he said.

“When investors come in, how they are treated at our embassies

in their country when seeking for visas, matters a lot. How the airport security treat them, how the taxi driver and hotel receptionists receive them in Nigeria, and lastly, how bureaucrats handle their files while pushing for investment opportunities, all determine whether they bring in money or not. So government has very little to do with regards to the attitude of individuals because no profession preaches corruption,” Olagunju added.

The committee was forced to adjourn as officials of the other DFIs came unprepared on grounds that they received the invitation late.

Anohu adjourned the hearing to January 17, 2017 to allow the agencies including the CBN, and the Federal Mortgage Bank of Nigeria to submit the required documents and memoranda.

Earlier, the Speaker of the House, Hon. Yakubu Dogara, while delivering the opening address, expressed concern at the perceived inefficiency of the DFIs, particularly toward SMSEs and agro-based businesses.

He, however, disclosed that the House had commenced the processes of repositioning the organisations to ensure they live up to the mandates for which they were established, to provide access to long term funds at low interest rates for entrepreneurs.

“There is no doubt that these institutions, if adequately harnessed are enough to propel this country into appreciable level of technological and economic advancement,” Dogara said.

Indonesia Announces New Visa Policy for Nigerians The Indonesian Ambassador to Nigeria, Harry Purwanto, yesterday announced his government’s new policy for issuing visas to Nigerians and other foreigners wanting to visit Indonesia for any purpose.

Purwanto told the News Agency of Nigeria (NAN) in Lagos that under the new policy, his embassy would no longer be involved in visa processing, but only in the collection of visa applications.

The ambassador, who did not give

any reason for his government’s new visa policy, said the processing of visas to Indonesia would henceforth take a much longer time.

“Nigerians seeking visas to Indonesia should know that the Indonesiangovernmenthasintroduced anewvisaapplicationandissuancepolicy.

“Under the new policy, we as an EmbassyinNigeriahavebeenwithdrawn from processing visas.

“All we are now required to do is to collect visa applications and send them to

Indonesia for processing. We now have to be taking authority from Jakarta.

“We, therefore, want to tell Nigerians seeking visas to Indonesia to now begin their applications at least two weeks in advance, to enable us send their applications on time to Jakarta,’’ he said.

Purwanto enjoined Nigerians to always ensure that authentic information and documents were provided in their visa application forms, to avoid visa refusal from

Jakarta.

The ambassador, who restated his government’s commitment to issuing more visas to Nigerians, said that about 1,000 Nigerians were issued visas to Indonesia this year.

He also said that his government would continue to create the right environment for mutual trade relations and people-topeople interactions between genuine Nigerians and Indonesians.

52

CRIME&PUNISHMENT

WEDNESDAY, DECEMBER 21, 2016 • T H I S D AY

Engineer Assassinated in Ekiti Few Days after Police Paymaster was Killed Police parade three kidnap suspects

Victor Ogunje in Ado Ekiti

they could not see him on the grounds on the other side of Twenty-four hours after the car. They later came and the gruesome murder of the saw his lifeless body beside Paymaster of the Ekiti State where his car was parked.”

Aribasoye said the family Police Command, Mr. Idowu Taiwo, by unknown gunmen on immediately reported the the street of Ado Ekiti, another matter to the police, disclosing man identified as a professional that they have visited the engineer, Mr. Kunle Enisan, family to extract first hand has been assassinated in Ekiti. information.

“The wife is my younger Enisan, father of two, who was in early 40s and an sister. The people of the state employee of Ido/Osi Local are no longer safe. The security Government Area of the state, is nothing to write home about. was killed around 8.15p.m. on We believe it was a clear case of Monday at Housing Estate assassination because nothing along Afao road in a manner was taken away from the that kept many agitated about car but we only saw some documents scattered on the the security of the state.

Relaying how the incident ground.

“Kidnapping and happened, the deceased’s inlaw, Adeoye Aribasoye, said assassination are rampant now the victim was returning home and Ayo Fayose’s government with his wife in his Toyota must be proactive to arrest the Highlander car and had a situation.”

The Police Public Relations stopover on the way where the wife had headed home Officer of the Ekiti Command, Alberto Adeyemi, through alternative means Mr. expecting the husband to confirmed the incident, saying the detectives are already on join her later.

Aribasoye said: “ When it the trail of the perpetrators of was 9p.m., the wife became the nefarious act.

Meanwhile, the police have agitated because the deceased never kept late nights. The wife paraded three suspects who participated in the kidnap of started looking for him.

Just a few metres from Mrs. Oyinlola Ajibola, wife of home, she and the search former member of the House party saw his car and the of Assembly, Samuel Ajibola, in Omuo-Oke in Ekiti East Local doors were opened.

“But because of the fear, Government Area in October.

Finally, Kidnappers Release Abducted Toddler, Pregnant Woman Chiemelie Ezeobi

The pregnant mother was said to have gotten a taxi, which took Three days after two-year-old them to the toddler’s father’s Fareeda Abiose was kidnapped house. alongside her late mum’s The source said: “The pregnant friend, her abductors kidnappers gave them money finally released her into the for cab and the pregnant lady got waiting arms of her father. a cab with little Fareeda to her The kidnapped toddler was father’s house around 8p.m. Only abducted after her mother, Aisha the pregnant lady can give full Alli-Balogun Abiose, a budding information and I don’t know her. broadcaster was shot by the “The family does not want same gang of armed robbers to speak with anyone because at the Ajegunle area of Ikorodu they are unhappy nothing was over the weekend. done before now by all institutions The kidnappers were said contacted. Why now? This shows to have initially requested for how messy the government is N10million as ransom from the and how they failed the entire bereaved family. nation.

Although it was yet to be “The only thing you can help ascertained the amount the us with is passing the message to family finally paid as ransom, show how the government and it was gathered that the father police failed us by not showing after negotiating for ransom with concern. the kidnappers, was told where ‘There was not even a single to come pick the toddler. call. What if the father couldn’t The kidnappers were said raise the money? The girl’s father to have contacted the toddler’s said the government and the father and told him where to pick police failed them. up his daughter, but later used “He complained that not even another method. a phone call was put across to A source who refused to be the family from either the police named disclosed that the victims or the state government. They were freed around 8p.m. on didn’t show any concern.

Monday, adding that the pregnant “As it is now, the father doesn’t woman was handed the money want the police to start worrying for their taxi after they were him on how and where they picked dropped off by their kidnappers. the daughter.”

The suspects, Adeola Ayodele, Rotimi Onileowo and Sunday Koko confessed to the crime which took place on October 8 at the residence of the victim. Three members of the gang are still at large.

Ayodele who wept profusely during the parade said they participated in the crime begging for forgiveness from the victim.

The suspect said he has been praying to God to forgive them

for kidnapping the woman.

On the alleged kidnappers , Adeyemi said the command did not rest on its oars until the suspects were arrested, explaining that police are still on the trail of the fleeing members of the gang urging members of the public to assist with information that could lead to their arrest.

However, the Commissioner of Police, Mr. Wilson Inalegwu, has ordered serious stop and

search operation in all major highways in Ekiti.

The police were seen stopping motorists and searching their vehicles at all entry points to Ado Ekiti capital city, while similar operation was going on in all other divisions across the 16 local government areas of the state.

Taiwo, was found dead on Monday morning with his hands tied to the back in a

car in Ajilosun area after being kidnapped at a pub on Sunday night by unknown gunmen.

Speaking with journalists in Ado Ekiti yesterday, Inalegwu said no arrest has been made in connection with the gruesome murder of the officer.

Inalegwu, who spoke through the Command’s Public Relations Officer, disclosed that the measure was part of the operations lined up to make Ekiti a no-go-area for criminals.

WE NEED POWER SUPPLY

A cross-section of residents protesting epileptic power supply in Minna....yesterday

Protesters Storm Abuja over Absence of Judge Stalls Jibrin’s Killings of Security Officers Case against N’Assembly, Dogara Ibrahim Shuaibu in Kano “When we resume on during Rivers Rerun Polls January 18, 2017, the case will

Adedayo Akinwale inAbuja

Protesters under the aegis of National Support Groups for Good Governance yesterday stormed Abuja over killings of security officials during the recent rerun election in Rivers State.

The National Coordinator of the group, Abdulwahab Ekakhide, while speaking at the police headquarters, said the group was opposed to all forms of electoral violence in the country.

The group also protested against what they described as alleged incitement of the people for violence by the state Governor, Nyesom Wike.

According to him, “It is worrisome that innocent citizens who went out to freely exercise their franchise to determine who become their representatives at the state and national assemblies were murdered.

Ekakhide stated: “We are not happy with the spate of killings during elections in Nigeria with particular reference to the legislative re-run election in Rivers State where a police DSP and his aide were beheaded with another resident

shot dead.”

He expressed dismay that workers of Independent National Electoral Commission (INEC) were abducted and taken hostage because people wanted them to write the result they wanted.

The national coordinator of the group noted that “on October 18, we were at the National Assembly and the Supreme Court to show that there’s nobody above the law.

Now, we are saying that Nigerians should join hands with all security agents to say no to electoral violence in this country.

“The people killed, though they are Rivers citizens, were Nigerians.

Secondly, the leaders of this country who need to know these and take actions are in Abuja. “The Inspector General of Police (IG) is here, the president is here, the Speaker of House of Representatives and the President of Senate are here as well as the Minister of Justice.

“The investigation into the killing does not lie in ordinary citizens like us. The work lies with the police, and that’s why we are here. We are saying that in any election, there should be no violence during election

The absence of the judge presiding over a case against the National Assembly and Speaker of the House of Representatives, Yakubu Dogara, at Federal High Court 2, Kano, stalled the sitting of the court yesterday .

Speaking to journalists at the court premises, the lead counsel for Kofa’s constituency, Mr. Bashir Muqaddam, said the Judge, Justice Idris Koko, had travelled out of the state for Judges Conference currently holding at the Federal Capital, Abuja.

He said after returning from the Conference, the Judges would proceed for Christmas and New Year vacations.

According to him., the judges were expected to resume on January 19, 2017 while the case has been fixed for another date on January 18, 2017, for mentioning.

“Our prayer seeks that the sum of N2 billion be given to our client, Honourable Abdulmumini Jibril Kofa, as payment for damages to his reputation.

come up for mentioning, “ Muqaddam said.

He said the constituency was challenging the legality of Kofa’s suspension by the House of Representatives, “We want to know whether his whistle blowing role in exposing how the 2016 budget was padded was in contradiction of any stipulated law of the land.”

“Fundamentally, we want an immediate re-instatement of the suspended member and the court to also order for the payment of all his ( Kofa’s) entitlements for the suspension period.

Also speaking, the leading complainant in the case, Alhaji Ibrahim Tiga, assured Kofa’s supporters who came to the court that they would follow the case to its logical conclusion.

Our correspondent recalled that Kiru/Bebeji federal constituency sued the National Assembly and Speaker Yakubu Dogara, challenging the legality of suspending their member, Abdulmumini Jibril Kofa.

53

WEDNESDAY DECEMBER 21, 2015 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Church of England Appoints First Black Bishop in 20 Years

The Church of England has appointed its first black bishop for 20 years in a move that significantly increases its handful of minority ethnic clergy in senior leadership positions.

Downing Street announced that Woyin

Karowei Dorgu is to be the 13th bishop of Woolwich, and will be consecrated at Southwark Cathedral on 17 March.

Dorgu was born and brought up in Nigeria, and ordained in the UK. Woolwich, in south-east London,

US Embassy in Ankara Closed after Gunman Fires Shot The US embassy in Ankara and other consulates in Turkey were closed on Tuesday after an individual fired shots in front of the mission in the capital.

Turkish police have detained the man, who took out a shotgun he hid in his coat and fired about eight rounds into the air before the embassy’s security guards intervened and apparently overpowered him.

No one was hurt in the incident, which occurred at 3:50am local time (00:50 GMT), hours after a Turkish policeman who condemned Russia’s military role in Syria fatally shot Russian Ambassador Andrey Karlov at a photo exhibition

in Ankara.

The US embassy is just across the street from the art exhibition building where the attack on the ambassador occurred. It was not immediately clear if the two incidents were connected.

The leaders of Turkey and Russia have described the attack as an attempt to disrupt efforts to repair ties between their countries, which have backed opposing sides in the Syrian civil war.

The American embassy said its missions in Ankara, Istanbul, and the southern city of Adana would be “closed for normal operations on Tuesday”.

has a significant Nigerian population, many of whom worship in black-majority Pentecostal churches rather than the C of E. At a press conference at Southwark Cathedral, Dorgu said one of his priorities as bishop would be to celebrate the racial diversity of the Woolwich area. He said he intended to “encourage BAME [black and minority ethnic] vocations and more participation in ministry”.

“I will celebrate the diversity in race, ability, gender, sexuality and class … Celebrating our differences is a gift,” he added.

The only other black bishop in the Church of England is John Sentamu, now archbishop of York – second in the church hierarchy – who was consecrated as bishop of Stepney 20 years ago. There are three BAME archdeacons and one dean.

BAME representation among clergy and senior

leadership has long been a concern in the church.

Last year, the proportion of BAME people among those embarking on the process of becoming a priest fell to 1.9%, compared with a share of the general population of about 15%. In previous years it has been 4-5%.

The church established a committee for minority ethnic Anglican concerns more than 30 years ago, which recently stepped up efforts to improve BAME representation. An initiative called Turning Up the Volume was set up in 2012 with the aim of doubling the number of BAME clergy in senior positions within 10 years.

Dorgu told the Guardian his appointment was “a small step in the right direction”, adding: “Quite a lot of Nigerian Christians [in the Woolwich area] are from an Anglican background. I hope my appointment will be a model. Seeing someone from

a similar background could be a catalyst for dialogue between the C of E and black majority churches and Nigerians looking for a spiritual home.”

Although he and Sentamu were the only black bishops, Dorgu said: “I would not describe the position as lonely. There is a lot of support and friendship.”

Dorgu said he did not believe the C of E was institutionally racist, adding that he preferred the term “unconscious bias”. “If the church was racist, I wouldn’t be where I am today. The church is making an effort to be more inclusive.”

On the issue of sexuality, which has divided the Church of England and the global Anglican communion for two decades, Dorgu said he stood firmly behind the church’s official position. The church refuses to conduct same-sex church weddings on the traditional biblical grounds

that marriage is between a man and a woman, and its insistence that gay clergy must be celibate.

Dorgu – known to some of his congregation as Brother K – trained as a medical doctor in Lagos before being ordained. He was brought up in a Christian family but said as a teenager he rebelled against the gospel and left the church.

After encountering Christian students at university, he decided to “accept Jesus as my personal saviour and Lord in my early 20s”. He came to the UK in 1987 and was ordained as a priest in 1996.

He described himself as an evangelical but added: “I will fly no party colours … I will promote unity, respect, integrity and collaboration among different traditions.”

Since his ordination, he has been a minister in London parishes.

Russian Ambassador Killing: Andrei Karlov’s Body Flown Home from Turkey The body of the Russian ambassador assassinated by a Turkish policeman in Ankara is being flown home.

Andrei Karlov was shot by Mevlut Mert Altintas, 22, nine times as he gave a speech on Monday, apparently in protest at Russia’s involvement in Aleppo.

On Tuesday afternoon, Karlov’s coffin was carried across Esenboga airport’s tarmac, draped in a Russian flag.

He was accompanied to a waiting plane, sent by Moscow, by an honour guard of six Turkish soldiers.

‘An eternal symbol of friendship’ A short ceremony, attended

by Ankara’s top diplomats and Turkey’s Deputy Prime Minister Tugrul Turkes, took place before Karlov left the country for the last time.

In highly unusual scenes for a Muslim country, a Russian Orthodox priest said prayers and swung incense over the coffin, while a Turkish soldier stood holding a picture of the murdered diplomat and Karlov’s widow Marina wept.

Mrs Karlova was present when Altintas opened fire on her husband, who took up his posting in Ankara in 2013.

It was not clear if the gunman, an Ankara riot police member who was later shot dead in a gun fight with Turkish officers, had links to any group.

However, Russia and Turkey agreed quickly the assassination was an act of “provocation” with Russian President Vladimir Putin saying it was “undoubtedly... aimed at disrupting the normalisation” of bilateral ties and the “peace process in Syria”.

They have vowed to work together to find out who is behind the murder of Karlov.

Russian investigators arrived in Turkey to help on Tuesday.

Mr Turkes also paid his respects to Karlov at Tuesday’s ceremony, describing him as the man who “has become the eternal symbol of TurkishRussian friendship”.

In his time in Ankara, the veteran diplomat, 62, who had served as Soviet ambassador to North Korea for much of the 1980s, had to grapple with a major crisis when a Turkish plane shot down a Russian jet close to the Syrian border.

Demanding a Turkish apology, Moscow imposed damaging sanctions - notably a freeze on charter flights by Russian tourists - and the two countries only recently mended ties.

Meanwhile, a seniorTurkish government official told the Associated Press that the killing was“fully professional, not a one-man action”and that the attack was well-planned.

Police have arrested six people over the killing, including Altintas’s mother, father, sister and three other relatives, as well as his roommate.

Syrian Observatory for Human Rights said six buses were attacked and torched

Berlin Attack: German Police Unsure Suspect was in Lorry The only suspect held after Monday’s deadly lorry attack on a Berlin Christmas market has been released, prosecutors say.

They say they do not have sufficient evidence to pursue the case against the man, who has been identified by media only as Pakistani national Naved B. The man earlier denied any involvement. He was captured in a park after reportedly fleeing the scene.

German Chancellor Angela Merkel, who laid flowers at the scene of the attack on Tuesday, vowed to punish those responsible “as harshly as the law requires”.

Her open-door policy on migration, which saw 890,000 asylum seekers arrive in Germany last year, has divided the country, with critics calling it a

security threat.

Around 20:14 local time (19:14 GMT), the lorry ploughed through the popular market at Breitscheidplatz, near west Berlin’s main shopping street, the Kurfuerstendamm.

Along with the dead, 49 people were injured, 14 of them seriously. As of Tuesday afternoon, 24 of the injured had been released from hospital.

The usual driver of the lorry, Polish citizen Lukasz Urban, was found dead on the passenger seat of the lorry, reportedly with gunshot and stab wounds to his body. No gun was recovered.

Mr Urban, 37, had been working for his cousin Ariel Zurawski, the Polish owner of the lorry, who said he had last been in contact

at 16:00 (15:00 GMT) on Monday.

Lukasz Wasik, the manager of the transport company, told Polish TV Mr Urban had been a “good, quiet and honest person’’ devoted to his work.

“I believe he would not give up the vehicle and would defend it to the end if were attacked,” Mr Wasik said.

The interior ministry said Christmas markets in Berlin would remain closed on Tuesday but other markets outside of the capital would operate as normal.

Chancellor Merkel expressed her concern that the attacker might turn out to be an asylum seeker.

“I know that it would be particularly difficult for us all to bear if it turned

out that the person who committed this act was someone who sought protection and asylum in Germany,” she said.

The co-leader of Germany’s anti-immigration AfD party, Frauke Petry, blamed Mrs Merkel’s liberal policy on migrants.

“The milieu in which such acts can flourish has been negligently and systematically imported over the past year and a half,” she said.

Media captionVice chair of German right wing party tells The World at One that Chancellor Merkel is to blame for attack Horst Seehofer, the leader of Mrs Merkel’s sister party in Bavaria, urged the chancellor “to rethink our immigration and security policy and to change it”.

54

T H I S D AY • WEDNESDAY DECEMBER 21, 2016

WEDNESDAYSPORTS Fresh Two-year FIFA Ban Looms for Adamu Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Duro Ikhazuagbe Three years after he completed serving a three-year ban for ethical violation former CAF and FIFA Executive Committees member, Dr Amos Adamu, is in fresh trouble that may earn him another two-year ban from all football related activities.

Yesterday, the report of the adjudicatory chamber of the independent Ethics Committee of FIFA chaired by HansJoachim Eckert, recommended a two-year ban for the former director general of the National Sports Commission.

In November 2013, Adamu was allegedly to have agreed to receive £500,000 in order to influence the voting procedure with his vote for the 2018 FIFA World Cup bid. The sting operation was carried out

by UK-based Sunday Times.

However, the report of the fresh matter before FIFA is the outcome of the investigations opened on March 9, 2015, two years after Adamu finished serving his three-year ban for that sting operation.

According to FIFA, the investigations against Adamu conducted by Dr Cornel Borbély, chairman of the investigatory chamber of the Ethics Committee, were opened on March 9 2015 and the final report was passed to the adjudicatory chamber on

December 2, 2016.

“In the final report, the investigatory chamber recommends a sanction of a two-year ban from all football-related activities (administrative, sports and any other) and a fine of 20,000 Swiss Franc for violations of arts 13, 15 and 19 of the FIFA Code of Ethics (FCE).

“The adjudicatory chamber under its Chairman HansJoachim Eckert has studied the report carefully and decided to institute formal adjudicatory proceedings against Mr Adamu.

“In the course of the proceedings, the party (Adamu) will be invited to submit his position including any evidence with regard to the final report of the investigatory chamber (art. 70 par. 2 of the FCE), and may request a hearing (art. 74 par. 2 of the FCE),” stressed the statement.

However for fair hearing, FIFA declined to further details of the matter as the former Nigerian sports administrator is deemed innocent until final verdict of the case.

“For reasons linked to privacy rights and the presumption of innocence until proven guilty, the adjudicatory chamber will not publish further details at the present time,” concludes the statement.

Adamu was filmed in the

Adamu... Insists he was sacrificed to prevent 2018 World Cup bid probe Sunday Times sting in 2010 asking undercover reporters posing as bidders for $800,000 to influence his World Cup hosting vote, saying he wanted the money paid to

him personally so he could finance soccer fields in Nigeria.

He was suspended and not allowed to take part in the December 2010 votes, then banned for three years by

FIFA. He failed in two appeals against his sanction. Adamu is not the only football administrator to face FIFA’s sanctions.

Several others including

former President Sepp Blatter and former UEFA chief, Mitchel Platini, are currently serving several years sanctions from all football related activities.

A C C E S S B A N K L A G O S C I T Y M A R AT H O N Abuja Glows for 2016 Players’ Awards Over 100 Elite Runners Scramble for 60 Slots Excitement is gradually building up in the city of Abuja as the city prepares to host the biggest sports award ceremony spectacle in Africa at the 2016 Glo-CAF Awards which incidentally is the Silver Jubilee edition.

Following the announcement by the Confederation of African Football of the choice of Abuja as the host city in October this year, sponsor and organiser of the event, Globacom, has assured stakeholders that the company, in conjunction with CAF, will stage a memorable Awards gala in the FCT which is hosting the Awards for the third time since Glo took over the sponsorship in 2005.

In a press statement in Lagos yesterday, Globacom said that “the Glo-CAF Awards 2016 will parade top football celebrities as well as top government officials from Nigeria, the African continent and the rest of the world.”

Globacom stated further that the awards gala would also congregate African football legends, including the new African Footballer of the Year and winners in 12 other categories.

The categories include African Player of The Year (Based in Africa), National Team of The Year, Club of The Year, and Coach of The Year.

Other categories are Women’s National Team of The Year, Women’s Footballer of The Year, Most Promising Talent,

Referee of The Year, Legend of The year, Fair Play Award, Platinum Award – Single nominee, and Africa Finest XI. Pierre-Emerick Aubameyang, a winger with Borrussia Dortmund FC in Germany, is the current African champion, while Mbwana Ally Samatta of Tanzania is the African Player of the Year, Based in Africa.

The 2016 Gala event of the Glo-CAF Awards will be held on Thursday, January 5, 2017, at the International Conference Centre, Abuja.

The Confederation of African Football recently released the list of top 5 contenders for the 2016 African Footballer of the Year and five nominees for Africa Footballer of the Year (Africa-based).

Abuja, the capital of Nigeria, hosted the inaugural edition of Glo-CAF Awards in 2005 followed by Accra, Ghana, in 2006. Lome, Togo, hosted the 2007 edition, while the event was held in Lagos, Nigeria, for the first time in 2008 before it moved back to Accra in 2009. Cairo, the capital of Egypt hosted the 2010 edition.

The event was held backto-back in Accra, Ghana between 2011 and 2012, while Lagos hosted the 2013 and 2014 editions. Abuja hosted the 2015 edition and will also host the 2016 edition, back to back.

Still about two months before it second edition, the Access Bank Lagos City Marathon is generating passionate interest among elite marathoners worldwide.

For the 2017 edition slated for February 11 about 125 elite athletes have applied to be invited to participate but General Manager, Marathon, Yussuf Alli, insisted yesterday only 60 slots are available for foreign elite athletes. 100 elites Nigerian marathoners will be invited for this edition.

“We are expecting 50,000 participants this year, so we welcome runners from all parts of the world but we

shall cover travel expenses and accommodation of only 160 elite athletes, 60 elite athletes from different parts of the world and 100 Nigeria elite athletes based at home and abroad’’.

Alli reconfirmed that Kenyan Daniel Kinyua currently ranked among the top ten in the world will be in Lagos. With personal best of 2:05:21, he won the 2016 Amsterdam Marathon. Kenya’s Sammy Kitwaic bronze medalist at the World Half Marathon, who ran 2:04:28 at 2014 Chicago Marathon and 2:05:45 Amsterdam Marathon in

2016 is equally confirmed for Lagos.

Marius Kimutai also from Kenya with a 2:05:47 at 2016 Amsterdam Marathon 2016 and Ethiopian Siraj Gena, winners of 2016 Buenos Aires Marathon October 2016, 2010 Rome Marathon and 2013 Istanbul Marathon are also coming to Lagos.

The female field is equally strong according to Alli.

Confirmed for Lagos are elites like Ethiopian Mamitu Dasic, Alice Timbili, Haliem Hussan Beriso and Emily Chekemoi Samoe of Kenya winner of 2013 Barcelona International Marathon and

2015 1st Xiamen International Marathon, Taiwan.

The former Team Nigeria captain whose national longer record remains unbroken in more than three decades also hinted that elites athletes from 13 countries have confirmed to participate in the 2017 race. “ Our projection is 50,000 runners but the response has been tremendous. So far, we have distributed over 40,000 forms physical and the response online has been great. At the end of the day, the number of runners that may turn out on February 11 may be over our projection’’ said Alli.

Team Offikwu Wins NCC Tennis League Cup Kaduna-based Team Offikwu on Sunday in Lagos completed their fairy-tale run by beating defending champions Team Tombim 4-2 to clinch the 2016 NCC Tennis League Cup. In a tight but exciting tie played at the Lagos Lawn Tennis Club and watched by former Vice President, Alex Ekwueme and the Minister of Youth and Sports, Solomon Dalung, Team Offikwu took the two reverse singles to put the tie beyond the reach of defending champions.

The team which debuted this year had recovered from 2 -0 down Saturday to level the tie 2 -2 and on Sunday, the young team took the two

reverse singles to make the last mixed doubles match inconsequential.

Sylvester Emmanuel, the arrow head of the “come-back kids” once again proved to be the match winner when he beat national champion, Moses Michael, 4-6, 7-6, 6-4 in what proved to be the final match. Albert Bicom had earlier beaten Emmanuel Paul 6-4, 6-4.

In his remarks, Dalung praised the level of organisation of the competition saying the success of the NCC Tennis League is a testimony that sports in Nigeria is better off being private sector driven.

“The competition was taken to all the zones of the federation, offered very huge prize monies which made several young men and women millionaires with no kobo coming from government. This is a good example for the sports federations to follow,” Dalung said Also in his post-match remarks, Ekwueme, who expressed delight that Nduka Odizor,” the Duke” was at the finals, expressed delight with the level of play and organization of the tennis league.

“It was a very exciting event and I thoroughly

enjoyed the matches. If this competition is sustained Nigeria should be able to produce world beaters in the very near future,” the former vice president who still plays and follows tennis at the world level observed passionately.

Team Offikwu got N7 million while runners-up Team Tombim got N5 million.

Team Civil Defence winners of the third place concluded last Friday went home with N4 million while the fourth place team, Team FCT got N2 million.

The competition was organised by the International Tennis Academy.

55

T H I S D AY • WEDNESDAY DECEMBER 21, 2016

WEDNESDAYSPORTS

Equatorial Guinea Open: Expanding African Frontiers through Golf

Now in its fourth year, the 3e Actuaries Equatorial Guinea Open is growing in leaps and bounds, exploring the prospect of using marquee professional golf events as a tool in destination branding, Olawale Ajimotokan who was in Mongomo, E/Guinea reports The Road to Mongomo The tournament fittingly lived to its name ‘’Road to Mongomo’’ as many top professional golfers, from 28 countries, braved long travelling hours, international datelines and complex flight connections to arrive the hometown of President Teodoro Obiang Nguema Mbasogo, on the border with Gabon for the Equatorial Guinea Open. Men and lady players, numbering 70, and affiliated to professional tours and Ladies European Tour (LET) competed at the impressive 18- hole Presidential Golf Course. Mongomo is in the region of Wele-Nzas to the southeast of Malabo.

It is one of the three emerging urban centres, including Mongomeyen and Oyala-Djibloho currently experiencing massive infrastructural investment as part of the construction of a new future capital in Oyala.

Pathway to European Challenge Tour In what is a wake-up call to Nigeria, Equatorial Guinea is now on the radar of the European Tour, which has stated its intention to list its national open on the European Challenge Tour schedule from 2017. If this becomes a reality, the tiny central African country will host a European Challenge event, joining South Africa and Morocco as the only African official venues on the tournament schedule. The Tournament Director for the European Tour, Jose Maria Zamora, was in Mongomo to assess allied facilities that will make that possible. After meeting President Obiang, Zamora confirmed to THISDAY of negotiations to list Equatorial Guinea on the European Challenge Tour next year. He described the Mongomo layout as a fantastic golf course with a fine clubhouse.

Some of the facilities that required improvement are the driving range and the greens. Zamora said European Tour course experts will decide if the present greens are of the right type and if they need modification.

A President’s Happy Moment The large number of international professional golfers in his country, and the prospect of using golf to boost tourism as alternative to oil as the mainstay of the economy, made President Obiang to promise that the next edition in Mongomo will be bigger. Obiang attended the opening ceremony with the First Lady, Constancia Mangue, where he was treated to booming ceremonial tee shots by the players.

Olawale Opayinka of 3e Actuaries said that apart from the Euro Challenge prospect, 500 players will participate in next year’s tournament.

Olawale Opayinka of 3e Actuaries (second left) and the Tournament Director European Tour Jose Maria Zamora, (second right) present a ceremonial leaderboard to Equatorial Guinea President, Teodoro Obiang Nguema Mbasogo, and the First Lady, Constancia Mangue Pre-qualifiers will be staged in seven countries, namely, Nigeria, Zimbabwe, USA, South Africa, UK, United Arab Emirates and Sweden and the price money will also be hiked to $400,000, split to $250,000 for men and $150,000 for ladies. The final tournament will feature 50 men and 30 ladies, with all the 14 ladies that attended this year granted wild card status.

Opayinka also informed the president that as part of effort to give golf grassroots outlook, the three Equatoguineans currently on training as professional golfers will be sponsored to seven international tournaments, to fast track their grounding. The Sports Minister, Andres Jorge Mbomio, told THISDAY that from January 2017, a golf academy will be established in Mongomo to teach youths, while a professional golfer will impart golf knowledge to the locals every weekend in tune with government’s philosophy to grow the game. Mbomio said though golf is unlike football, its already gaining ground in the tiny country.

Hinton, Echeverria Emerge Champions The tournament produced two male and female winners in Craig Hinton of England and Paz Echeverria of Chile. Hinton held his nerves on the final day, ending Nigerian monopoly

NPFL: Saraki Assures ABS FC Improve Welfare Package Hammed Shittu in Ilorin The Chairman of Abubakar Bukola Saraki (ABS) Football Club of Ilorin, Mr. Seni Saraki, has assured the players and the technical crew of the team an improved welfare package ahead of the new season.

ABS FC will begin the new Nigeria Professional Football League (NPFL) season with an home game against Akwa United on Sunday, Jan. 15, 2017 at the Kwara Stadium complex after three years in the lower division Mr. Saraki who is the eldest son of the Senate President, Senator Bukola Saraki, disclosed yesterday when he paid a visit to the team at their training ground in Ilorin..

He pledged that a new bus would be given to the team to ease it’s movement for away games and to ensure the players are comfortable on the road.

The elated Saraki doled out cash to the players as his visiting gift and promised them a special bonus for Christmas.

to win the cash prize of $26,000 for men by three shots after a closing round of 72. The Englishman’s path to victory was eased on the third day of the event when he went on a birdie blitz on the back nine, enroute to a course record of 65. Overall, Hinton sank 19 birdies and posted a combined score of 10 under par 278 to leave Swede Peter Gustafsson trailing in second position. Muthiya Madalitso, who from day one, kept in touch with the leaders, carded a final round 75 that left him five shots out of the lead for the third position. Spain’s Xavier Puig finished fourth at three under par 285, one shot ahead of Ferraira da Costa of Portugal, while Ghana’s Emos Korblah and Zimbabwe’s Ryan Cairns shared sixth place at one under par. Nigeria’s poster boy Andrew Oche Odoh finished in tied for 11th after a bitter-sweet campaign that saw him gross a +2 over par 290. Odoh, who won the 2015 edition, struggled following the non- arrival of his set of clubs and only played with borrowed equipment. After struggling on the first two days at nine over, he adapted in the closing 36 holes, which he executed at eight under par to secure a wild card spot for the 2017 edition. The charming Echeverria carded a total score of 4 under par 286 to beat fellow rivals on Ladies European Tour, Parmela Hurtado and Luna Sobron of Spain by four shots. Rachel Goodall

of England was a further five shots adrift for 4th position, ahead of the Anglo- German Leigh Whittaker, who came fifth at 10 over par 298.

Nigeria’s lady teaching pro, Uloma Mbuko shot 59 over the course par to finish in tied for 12th position, after falling ill following a jab of polio vaccination received at the airport.

Whittaker Captain

Appointed

Ladies

Leigh Whittaker has been made the lady captain, joining the male captain, the Nigerian Gift Willy in the overall team coordination.

The German-raised and half English member of LET expressed surprise and honour at her appointment to the new role.

Whittaker, who first visited Africa 20 years ago as a kid and had played three times at the South Africa Women Open, where she was once leading going into the final round, said she loved visiting Africa because the people are friendly and kind.

“I am honoured to be appointed the captain. It was also great to play the tournament alongside many players from all over the world. It was great to play with African ladies here. The course is a true championship layout. I will definitely like to come back,” Whittaker said.

Court Order Stops Mark D’ Ball Tournament The 2016 edition of the developmental and social integrating Mark D’ Ball Basketball Tournament has been put off following an ex-parte order of interim injunction granted by the Benue State High Court.

The order was granted on December 16 , 2016 to Edwin Owoicho, a trustee of the Idoma Private Trust on behalf of the supposed owners of the Otukpo Club 1945, stopping the use of the club for this year’s annual Mark D Ball Basketball Tournament.

The tournament, which has held for five unbroken years ,is a huge social engagement for the natives of Otukpo and basketball enthusiasts from the Boxing Day into the New Year Eve. Coordinator of the Mark Sport Foundation, Mark Igoche said last

night they would comply with the court order and allow the judicial process to take its full course. Mark accused the shadowy Owoicho of being a mere front for some vested interests, persons, agencies or government personages to inflict political injury on the initiator of the programme, the former Senate President, Senator David Mark.

At a media briefing last night, he said that the organizers had recorded unquantifiable losses in monetary terms from top international basketball players, clubs and artistes already engaged for this year’s event. Some of the of the key players billed to attend the event were the captain of Nigeria basketball team t the Olympics in Rio, Ike Diogu and former international team players, including Ejike Ugboaja, Osita Nwachukwu, Tunji

Awojobi and Sam Ogwuche. ‘’ We can’t quantify what we have lost as so much has come into the preparation- many top artistes and the 22 male and female basketball teams.

And the Children’s Clinic that is now disrupted. It is a huge monetary loss.

We regret to disappoint everyone already invited for the event,’’ Mark said.

The court is due to sit on the case on January 17, 2017, but Mark, has insisted that the foundation would neither be holding the event nor appealing the order to avoid possible breakdown of law and other in the peaceful Otukpo community.

He said that the foundation would work to ensure that the tournament where no gate fee is charged is organized in 2017 on a permanent venue.

Wednesday December 21, 2016

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UT H

& RE A S O

Price: N250

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MISSILE

Youths to Ministers ”Honourable Ministers, help tell the President that we are hungry.

Nigerians are very hungry ” – A group of young people responding to some ministers at a Town Hall Meeting in the Presidential Villa, Abuja

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

The Northeast in 2017

T

he outlook for the northeast remains critical going by the assessments of the international organisations helping to end the humanitarian crisis in the region. It is important that the national response to the crisis should reflect the seriousness of purpose, which the situation in the northeast certainly deserves.

Although the sound bites from the military authorities seem to reinforce the optimism that the insurgency is being tackled, yet the emergency response to the poor condition of those displaced should be squarely put in focus. President Muhammadu Buhari also recently elevated the response to the humanitarian crisis by setting up a presidential committee to coordinate things. The projections from the UN Office for Humanitarian Affairs suggest that Nigeria should gird its loins for next year if the crisis is not to get worse in the northeast. Almost seven million people are targeted in the Humanitarian Response Plan for 2017. These people who would be the focus of the plan live in the three most affected states of Borno, Yobe and Adamawa. Their condition is considered desperate in humanitarian terms. About two million are reported to be in the camps of Internally Displaced Persons (IDPs) in which hundreds of thousands of children under five suffer severe malnutrition. The funding shortfall in 2016 is estimated be $292 million.

The reports and briefs of some of the international organisations working in the northeast embody some home truths. A review of these reports should readily elicit a response to the enormity of the problem at hand. For instance, one of the critical observations is contained in a September 2016 report of the Genevabased Assessment Capacities Project (ACAPS). The seven year-old ACAPS is a non-profit initiative of a consortium of three Non Governmental Organisations (Action Contre la Faim - ACF, Norwegian Refugee Council and Save the Children International). According to the Project, the urgent needs of those in the IDP camps are food, water, shelter, healthcare and protection. It is not good enough that in its overview, the Project also observes as follows: “The national response capacity remains weak. However there have been efforts to scale up the response, through the increase of funding from the Federal government to the state government and through attempts to improve coordination among federal, state, Local authorities and other partners.”

What the Project has to say about protection of those in the camp should also worry the authorities: “The blurring of the lines between civilian and insurgent, and between humanitarian intervention and security surveillance, has allowed abuse of civilians to go unreported.”

Buhari The point at issue is the coordination of the efforts and discipline of the process.

Of course, the grim picture painted in the reports of international organisations is a true one; Nigerians living in the affected areas have more soul-depressing stories themselves to tell. In the last few months, this reporter has attempted to draw attention on this page to the sad stories from the northeast. It is worth repeating some of the observations on the crisis and the less than satisfactory handling of things by those entrusted with responsibilities. All stakeholders agree that the severe lack of access of the displaced to clean water, nourishing food, basic medical care, schools for children etc. are an immediate issue to tackle. In fact, there are reports that relief workers are still hindered from reaching some persons trapped in remote areas because of the factor of security. Some legislators are talking of a commission for the northeast. Maybe that is a long-term view of things. The region is doubtless in need of rehabilitation and reconstruction.

Meanwhile, the starving children have to be saved today so that they can live to be beneficiaries of the future reconstruction and rehabilitation.

Will it be too ambitious to expect the Buhari administration to end the humanitarian crisis in the northeast in 2017?”

The magnitude of the crisis is hardly appreciated in some quarters. If anything at all, there appears to be a greater consciousness on the part of the outside world of the danger and hardship to which people especially children are exposed in those parts of Nigeria. Governments at all levels should henceforth focus on a better coordination of the responses to the crisis to the benefits of the victims.

There have been reported opening up of territories formerly under the control of Boko Haram. This should enable aid workers to reach more people trapped in poor conditions that might have been largely underreported.

In a way, the picture is getting clearer now that more towns and villages have been opened up due to the gallant efforts of the armed forces and other security agencies. Yet, latest reports suggest that hundreds of thousands of people are still trapped and are at the risk of malnutrition. A proof has been provided by the experience in Bama where aid workers are actively providing relief to the victims has lent credence to this grim projection.

In projecting towards next year, government should heed the strident warnings of development organisations that famine may further plague a zone of Nigeria already devastated by the bestial war of Boko Haram. The charity organisation, Medicins Sans Frontieres (Doctors Without Borders) has warned against the deterioration in the health conditions of the victims due to inadequate medical care. In one of the most credible estimates, the number of children facing starvation in Borno alone has been put at over 400, 000. There is also a warning that some of those poor children may die daily if relief does not come their way promptly. This piece of news should raise an alarm to all humanitarian organisations and individuals. The UN’s budget of $300m is expected to be funded by international donors as organisations and individuals.

That is why greater attention has to be drawn to the problem in order to attract help from outside the country.

External help is already coming from organisations and individuals. More donations are being made from outside.

The heroic efforts of aid workers taking risks to provide relief to the victims should be better appreciated. They are indeed making all the difference. Their operational relationship with agencies of government and other bodies should be smoothened.

This positive development has imposed its own challenge. The campaign for external help should be conducted methodically so as to achieve the desired results. The donors, of course, would consider the sense of purpose here among other things. Doubtless, Nigeria needs of

external help to tackle the humanitarian crisis in the northeast. The need for external help even becomes greater in the light of the prevailing financial crunch. To justify the confidence of donors, government should rethink its strategy of confronting the crisis.

It is important in this phase of emergency response there should be competent, prudent and honest coordination of efforts. It is the demonstrable seriousness here that would engender the confidence of external donors. In this respect, the presidential committee on the northeast is a welcome development. There should be an organising principle underlying the distribution of relief materials.

In proportionate terms, the state and local governments should also deploy the public resources at their disposal for the care of the people who are in this life-threatening situation.

Another immensely helpful thing is that the military is also giving a helping hand in providing humanitarian relief especially in the area of medical care. The defence and security authorities should do more ensure that liberated towns and villages are secure for relief efforts to spread to more people. It is no good news that months after the defence authorities announced that Boko Haram had been pushed back, relief workers cannot still take food to starving children in some villages..

The humanitarian conscience of Nigeria’s well-endowed organisations and individuals ought to be pricked by the grim situation in the northeast. Outside donors would be enthused by the action of Nigerian organisations and individuals to solve the problem.

In planning for the northeast next year, governments at the three tiers of governments should be reminded for the umpteenth time that the welfare of those who are displaced in the Boko Haram war is ultimately their job. No tier of government in the region should be permitted to abdicate this responsibility.

The pressure should be stepped up to ensure that governments perform their duties to the poor people.

External donors in the relief efforts would certainly be discouraged by the corruption in the administration of the relief efforts for the victims. Government should categorically confront this. Those who have callously diverted the food meant for starving children should be punished according to the law. The resources available to provide succour for the victims should be judiciously managed. It is the responsibility of the government to ensure transparency in the process.

All told, will it be too ambitious to expect the Buhari administration to end the humanitarian crisis in the northeast in 2017?

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