Wednesday 15th March 2017

NDDC Boss Orders Immediate Payment of Commission’s Scholarships Ernest Chinwo in Port Harcourt

T H I S D AY S P E C I A L R E L E A S E all outstanding scholarship fees to beneficiaries of the 2016 NDDC Overseas Post-graduate Scholarship programme.

The Managing Director of the Niger Delta Development Commission (NDDC), Nsima Ekere, has directed the immediate payment of

In a meeting in Port Harcourt, Rivers State, yesterday, Ekere expressed displeasure that beneficiaries of the scheme were facing

unfortunate hardship due to delays in remitting both their tuition fees and upkeep allowances and asked the students to submit their bank details to the NDDC immediately.

A statement by NDDC

spokesman, Chijioke AmuNnadi, said the managing director disclosed that only 32 out of 200 beneficiaries had so far submitted their personal international bank information and promised to pay them immediately.

“I am very unhappy about these needless delays and the untold hardship our scholars are going through right now,” Ekere said, adding: “This is not acceptable. They are our Continued on page 8

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Presidency Moves to Avert Face-off Between Senate and Customs CG Saraki, Hameed Ali meet behind closed doors Car duty payment policy being reviewed, says NCS boss To seek legal advise on wearing the uniform of his agency Damilola Oyedele in Abuja There were indications yesterday that the presidency waded in to avert a face-off between the Senate and the Comptroller General (CG) of the Nigeria Customs Service (NCS), Col. Hameed Ali

(rtd.) over the controversial ultimatum issued to car owners and dealers nationwide to pay the duties on their vehicles between March 13 and April 12, 2019, or risk having their cars impounded.

Continued on page 8

Inflation Rate Falls for First Time in 15 Months to 17.78% Naira gains on parallel market on CBN injection of $195m Ndubuisi Francis in Abuja and Obinna Chima For the first time in 15 months, the Consumer Price Index, CPI, which measures the rate of

inflation, dropped to 17.78 percent (year-on-year) in February 2017, the National Bureau of Statistics (NBS) said yesterday.

Continued on page 8

Ortom Orders Fulani Herdsmen THE BRIEFINGS CONTINUE… President Muhammadu Buhari (right) and the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, when the CBN governor met Out of Benue Communities… Page 11 with the president yesterday to brief him on activities at the central bank, at the Presidential Villa, Abuja… yesterday godwin omoigui

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PAGE EIGHT PRESIDENCY MOVES TO AVERT FACE-OFF BETWEEN SENATE AND CUSTOMS CG THISDAY gathered that on getting wind of the impasse that has ensued between the Senate and Ali over his refusal to honour its invitation, President Muhammadu Buhari cautioned all his appointees against causing disaffection between him as the head of the executive arm of government and the National Assembly.

Buhari, a source in the presidency revealed, has cautioned his appointees to avoid any confrontations with the legislature that would pit it against the executive.

In this regard, the president was said to have directed Ali to honour the Senate’s summons to prevent an escalation of the stand off between both sides.

The Senate last week summoned Ali over his refusal to stay action on the policy and directed him to appear in the full uniform of his rank as the CG of the Customs Service today.

However, Ali wrote to the upper legislative body informing it that he would not be able to honour the summons, as he was due to attend a forthrightly meeting of the NCS management.

The letter, read at plenary yesterday morning, drew the ire of the senators who stated that by asking a subordinate officer, Assistant CG, to respond to its formal invitation and sign on his behalf, Ali had disrespected the institution.

It was the media reports of the looming face-off as it unfolded yesterday that prompted the

presidency to immediately step into the matter.

THISDAY gathered that Senate President Bukola Saraki, who left plenary after presiding over the matter on the Customs boss, and the Speaker of the House of Representatives, Hon. Yakubu Dogara met with the president yesterday afternoon.

A source disclosed that the presidency informed Saraki that Ali would appear before the Senate and pleaded that he be given the opportunity to explain himself.

The source could not, however, confirm if Ali would appear today or not, but disclosed that the presidency immediately reached out to Ali and cautioned him against worsening the executive/ legislative relationship, which the president has been working to rebuild.

Saraki and Dogara returned to the National Assembly immediately after the meeting.

However, at 3.33 p.m., the Special Adviser to the President, National Assembly (Senate) Matters, Senator Ita Enang delivered yet another letter from the Customs boss to the Senate President.

In the letter dated March 14, 2017, Ali disclosed that the controversial policy was being reviewed.

It read in part: “May I respectfully refer to your letter dated 9 March and inform Your Excellency that the decision on payment of customs duties by vehicle owners who do not have them as prescribed by law is

currently being reviewed. “The goal of the review is to take a broad additional input from the stakeholders and the public. I will welcome the opportunity to avail the Senate of our findings and the way forward on improving our capabilities to plug major drainages in the nation’s economy without adding to hardships and within our mandate. “Regarding the wearing of uniform, I wish to advise that the Senate avails itself of the legal basis of its decision to compel me to wear uniform. I am similarly seeking legal advise on this issue, so that both the Senate and I will operate within the proper legal framework.�

While his earlier letter had claimed he had a management meeting, the second letter, which he personally signed, claimed that he would be unable to respond to the summons, because of a recent bereavement. “I regret my inability to answer the Senate invitation owing to a recent bereavement. I will, however, make myself available whenever I am needed in the future. Please accept my highest esteem,� the CGC wrote.

Despite the second letter, Ali still turned up at the National Assembly yesterday evening and went straight into a closed-door meeting with Saraki.

Clad in white traditional attire, he was accompanied by three aides.

The meeting was still ongoing as of 6.04pm.

Earlier at plenary, Ali’s letter

Lawan said.

He, however, urged the Senate to extend the summons to tomorrow (Thursday). “To show that we are different, let us take him on Thursday if he is saying he won’t be available tomorrow, two wrongs would not make a right. “I know we feel hurt but whether it is live coverage or not, Nigerians have an interest in this and Nigerians will like to listen to the responses and explanations of the CG of Customs,� he said.

Senator James Manager (Delta South) disagreed that an extension should be granted, describing Ali’s request as “an insult of the highest order�. “Great men have passed through this particular chamber and therefore when letters like these are coming from executive bodies, the Senate must take a very firm stand,� Manager said, arguing further that it may have been understandable if Ali had written the letter himself or bothered to establish contact with the President of the Senate through the Senate Committee on Customs. “The integrity of this Senate is being tested. As we speak, there are so many products of this place who are listening and who are also itching for action.

The Comptroller General must appear in uniform tomorrow (Wednesday) and anything short of that certainly is not acceptable to me, is not acceptable to all the senators and what is not acceptable to all the senators is

not acceptable to all Nigerians,�

Manager added.

Ruling on the matter, Saraki noted that while Lawan had spoken as “leaders are meant to speak�, the Senate would be guided by the general opinion and integrity of the institution. “The position of the Senate is clear, he should appear tomorrow, in uniform, as directed by the earlier resolution and we are waiting to see him here tomorrow morning by 10:30 a.m.,� the Senate President ruled.

Briefing newsmen after plenary, Senate spokesman, Senator Sabi Abdullahi (Niger North) said the Senate would not back down on the demand that Ali appears in uniform, as his refusal to wear the uniform of his rank was a disservice to the men and officers who are making a career of the NCS. “We are not questioning the prerogative of the president to appoint the head of the agency from outside, but we frown on the fact that his actions are demoralising the service. “By not wearing the uniform, it is a disservice; people are there in uniform, but their head is not wearing his. If he knows he cannot wear a uniform twice, he should have declined the appointment,� Abdullahi said.

Abdullahi was alluding to Ali’s argument in the past that as a retired army officer, he should not be compelled to wear the uniform of another formation for the second time in his working life.

beneficiaries shows that 21 are in universities in the United Kingdom, six in the United States, three in Canada, and one each in Malaysia and Russia.

While 20 of the 32 are pursuing master’s degree programmes in various science and technology courses, 12 are Ph.D scholars in similar fields.

The NDDC boss also announced

the appointment of Mr. Anietie Usen, Director, Commercial & Industrial Development of the commission, to head a special committee tasked with reviewing and overhauling the implementation of the scholarship scheme and directed the immediate creation of a help desk for all inquiries. “The help desk will help

ease communication and provide important and prompt responses to enquiries concerning the scholarship scheme,� Ekere said, adding that such enquiries should be directed to Mr. Loveday Nwachi on +234-84-66-8158, Mrs. Seledi Thompson-Wakama on +234-803-339-7619 or Martin Ojum on 08171682519 and martin.ojum@ nddc.gov.ng.

2016 that the uptick was higher.

So, if nothing significant occurs in the economy, we are going to see a drastic reduction, to maybe single digit in May 2017 inflation,�

Chukwu predicted in a chat with THISDAY. Also, the Chief Executive Officer, Financial Derivatives Company Limited, Mr. Bismarck Rewane described the drop in February CPI as good news for the Nigerian economy. “We expect inflation to drop further in March because the base-year effect is waning and would wane further. It was in February last year that this ‘madness’ started. “But in February this year, we started seeing improved foreign exchange supply and if that continues, we expect inflation to continue to decline. “So, good things are happening and confidence is gradually returning to the economy,�

Rewane added.

Ecobank Nigeria’s analyst, Kunle Ezun, who said the drop in inflation was expected, predicted that the CPI might fall to 14 per cent at the end of the year. “The issue now is how does that translate to an improvement in the living conditions of Nigerians? For me, government must ensure that the power sector

is fixed so that the high cost of power by firms and households is reduced. “There is also the need to bring down the cost of transportation,� he added.

The naira also edged higher on the parallel market yesterday to close at N454 to the dollar, stronger than N460 to the dollar from the previous day, as the CBN sustained its intervention in the foreign exchange market.

THISDAY learnt that the central bank intervened with a total of $195 million yesterday.

A breakdown showed that it auctioned $150 million through special wholesale FX forwards and sold $45 million for invisibles.

Confirming this, the acting Director, Corporate Communications of the CBN, Mr. Isaac Okorafor said all the pent up demand for visible had so far been cleared, while the demand for invisibles “has been dropping�.

Okorafor said that central bank was determined to sustain liquidity in the FX market in order to enhance accessibility and affordability for genuine end users.

Okorafor also cautioned dealers not to engage in any unwholesome practices detrimental to the smooth operation of the market, warning

that the CBN would impose heavy sanctions on any organisation or official involved in such acts.

However, the spot rate of the naira on the interbank market depreciated to N306.25 to the dollar yesterday, after the central bank sold the dollar at its highest level ever on the official market.

The central bank sold $1.5 million at N305.75 to the dollar.

Commercial lenders then resold dollars at a 0.50 naira margin, leaving the naira at N306.25 at the end of trading yesterday.

signed on his behalf by Assistant CG, Azanema A., requesting for a new date to appear in plenary had angered the senators.

Saraki informed the lawmakers that Ali had written the Senate regarding the summons and directed the Clerk of the Senate, Mr. Nelson Ayewo to read the letter. “I am directed to acknowledge the receipt of your letter no NASS/CS/8S/09/29 of 9th March 2017 on the above subject matter.

I have been further directed to tell you that the date given to the Comptroller-General of the Nigerian Customs Service, Wednesday 15th March 2017, to brief the Senate in plenary on the retrospective duty payment of vehicles in Nigeria has coincided with the fortnightly meeting of the NCS management.

The Comptroller-General is humbly requesting a new date from the distinguished Senate.

As we await your favourable response, please be assured of our highest regards and also of the Comptroller-General of Customs,� the letter read.

Reacting, the lawmakers accused Ali of disrespecting the institution of the Senate by not bothering to take the trouble to respond to the formal invitation himself.

The Senate Leader, Senator Ahmed Lawan (Yobe North) said the CG should have written and signed the letter himself as a mark of respect to the Senate. “I feel slighted and I am sure everybody feels the same,�

NDDC BOSS ORDERS IMMEDIATE PAYMENT OF COMMISSION’S SCHOLARSHIPS children. They represent the future manpower and professionals that we are building to help transform the Niger Delta region and we cannot afford to allow them go through this kind of suffering.�

He declared that the new governing board and management of NDDC were determined to improve all governance, project and programme implementation

protocols within the commission and reaffirmed “the commitment to doing what is right and proper at all times�.

A total of 200 scholars emerged out of 4,300 applicants from a highly competitive process.

The NDDC Overseas Postgraduate Scholarship scheme, which includes a computer-based examination and oral interview,

is worth $30,000 per student, covering both tuition fees and upkeep allowances.

However, Ekere disclosed that NDDC would pay each beneficiary an additional N500,000 to cover their local expenditure in Nigeria. “This includes their visa fees and transportation costs,� he disclosed.

A breakdown of the 32

INFLATION RATE FALLS FOR FIRST TIME IN 15 MONTHS TO 17.78% The naira also maintained its momentum against the dollar on the parallel market, rising to N454 on news that the Central Bank of Nigeria (CBN) had pumped another $195 million into the interbank foreign exchange market.

In its latest CPI report released yesterday, NBS said the figure was 0.94 per cent points lower when juxtaposed with the 18.72 per cent posted in January.

According to the NBS, the new figure marked the first time in 15 months that the headline CPI has dipped on a year-on-year basis.

The NBS traced the development to the effects of a slower increase in food and nonfood prices as well as favourable base effects over 2016 prices.

However, price increases were recorded in all divisions that constitute the headline index, said the report.

Housing, water, electricity, gas and other fuel, education, food and alcoholic beverages, clothing, foot ware and transportation services provided the major divisions that accounted for accelerating the pace of increase in the headline index.

On a month-on-month basis, the headline index rose by 1.49 per cent in February 2017, representing a 0.48 per cent points higher from the 1.01 per cent

recorded in January.

Similarly, the food index rose by 18.53 per cent (year-on-year) in February, up by 0.71 per cent points over what was recorded in January (17.82 per cent).

The NBS report indicated that the rise was propelled by increases in the prices of bread, cereals, meat, fish, potatoes, yams and other tubers, and wine, while the slowest increase in food prices year-on-year were recorded by soft drinks, coffee, tea and cocoa.

Price movements recorded by all items less farm produce or core sub-index rose by 16.00 per cent (year-on-year) in February, down by 1.90 per cent points from the 17.90 per cent recorded in January.

The highest year-on-year increases were in electricity, liquid and solid fuels, fuels and lubricants for personal transport equipment, clothing materials, other articles of clothing and clothing accessories, and books and stationeries.

The urban index also rose by 18.57 per cent (year-on-year) in February from 20.31 per cent in January while the rural index increased by 16.98 per cent in February from 17.34 per cent in January.

Equally, on a month-on-month basis, the urban index increased

by 1.52 per cent in February from 1.03 per cent posted in January, while the rural index rose by 1.47 percent in February from 1.00 percent in January.

The composite food index rose by 18.53 per cent in February 2017, a rise that stemmed from increases in the prices of bread, cereals, meat, fish, potatoes, yams and other tubers, vegetables, wine, milk, cheese and eggs, sugar, jam, honey, chocolate and confectionery and fruit.

On a month-on-month basis, the food sub-index increased by 1.99 per cent in February, up by 0.7 per cent points from 1.29 per cent recorded in January.

The “All Items Less Farm Produce� or Core Sub-index, which excludes the prices of volatile agricultural produce declined by 16.0 per cent in February 2017, 1.90 per cent points from 17.90 per cent recorded in January.

Commenting on the 0.94 percentage points decline in inflation in February, the Chief Executive Officer, Cowry Asset Management Limited, Mr. Johnson Chukwu attributed the moderation in the CPI largely to the base effect. “The base effect would be more pronounced in May 2017 inflation because it was in May

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STARTERS

Scotland Shows Nigeria Runway Can be Fixed without Shutting Airport

Two-Minute BrieďŹ ng NEWS Ortom Orders Fulani Herdsmen

Out of Benue Communities Benue State Governor, Samuel Ortom, yesterday directed security agents to ensure the exit of Fulani herdsmen from Buruku and Gboko Local Government Areas as a result of recent security breaches.

Page 11

EDITORIAL Dealing With the Famine alert The recent alert by the UNICEF that nearly 1.4 million children were at “imminent riskâ€? of death by famine is a cause for global concern.That Nigeria would be listed among such countries that include Somalia, South Sudan and Yemen‌ Page 15

POLITICS The Osun One-Man Show

Continues Over two years into his second tenure, Governor Rauf Aregbesolaa of Osun State has remained a talking point as he governs withoutt a cabinet, Davidson Iriekpen writess Page 18

FEATURES Celebrating Reading

On March 2, millions of people across the world markedWorld Book Day.To commemorate the day, the Sang Bleu Academy got in on the act by organising a flash mob at the heart of Lagos, writes Solomon Elusoji Page 20

Work at the Glasgow airport runway A major civil engineering project has been taking place since last November while most of Scotland was asleep.

Unlike Nigeria, the authorities in Scotland did not have to shutdown their busy Glasgow airport to resurface the runway using the latest asphalt technology.

According to the BBC, there’s been minimal disruption because they’ve been doing it piece by piece in the middle of the night. The airport must be ready to reopen at 06:00 every morning.

So at just after 23:00 a convoy drives onto the darkened runway.

First comes traffic management with 600 traffic cones to enforce a strict one-way system.

Then the specialist vehicles: planers, pavers, rollers, sweepers and a gaggle of repurposed fire engines whose high platforms now carry huge floodlights.

Night becomes day again. Almost 200 workers have to be able to see what they’re doing.

This is the only runway at one of Scotland’s busiest airports but within a few minutes it looks like a motorway construction project.

Glasgow handles almost 100,000 aircraft movements a year. With the trend in the airline industry towards higher capacity, heavier aircraft, that means the runway takes a pounding every day.

This project is making it fit for the next decade.

If it looks like a meticulously organised operation that is because it has been well over three years in the planning.

Since last November, night by night, 120m at a time, this small army has been lifting off the runway’s surface and laying a new, hi-tech one.

Other work has also been taking place overnight, including replacing more than 200 runway and taxiway lights.

Most of it has been done with minimal disruption, indeed without passengers noticing.

The occasional delayed flight has missed the night time deadline and been diverted to an alternative airport.

But the airport’s operations director is Mark Johnston says the plan has been to do the work at a time when it would least affect traffic.

That’s why it has been taking place through the winter. “We have to notify the airlines far in advance of doing the works,� he says. “We effectively take the runway at eleven o'clock at night and hand it back at five in the morning.�

It has meant hundreds of variables have been taken into consideration. One example: the air ambulance normally based here has to decamp to Prestwick when the diggers move in.

It’s taken place night by night, but not every night. Before the new surface can be laid, the key science is meteorology.

If it’s too cold or too wet, everything has to be postponed.

On the night BBC joined them, the forecast was good and the first asphalt was laid before midnight.

Kevin Berry, the airfields operation director of the principal contractor VolkerFitzpatrick, has been checking the weather forecast since lunchtime. “We’re checking the weather at twelve o’clock, we’re checking the weather at four o’clock, half past six, half past nine,� he explains, “And then we go. “And we don’t go until we’ve got the material batched and ready to come.�

It is no ordinary material. It’s called Marshall asphalt, the surface of choice for civil and military runways.

Mixed with the bitumen are stones that have been ground down almost to the size of grains of sand.

Anything larger would not make the grade. Pebbles and high speed aircraft do not mix.

Marshall asphalt was first created before WW2 but project manager Roy Thomson

says the particular mix they are using at Glasgow has a 21st Century edge. “We’ve tried to develop an asphalt that’s capable of modern day fatigues and runway loadings, looking forward to the future. “Glasgow Airport will have a polymer modified asphalt which will be the first runway in Scotland to adopt that material.�

Polymers are long chain molecules of the kind found in plastics and our own DNA. Their use here will result in a runway that will perform better at extreme temperatures.

It will resist rutting, cracking and fatigue and will last longer.

The clock ticks relentlessly towards 05:00.

Some of the machines have an otherworldly look to them as they lay the new surface in a carefully coordinated ballet. In a way it’s comforting when I spot some workers with spades ready to do the detailed stuff.

While the work has been taking place here, a laboratory in Airdrie has been testing a sample of the mortar used to seat the new runway lights.

The mortar must not only have set, but have hardened enough to withstand aircraft landing on it as soon as the runway reopens. Word comes back that it meets the standard.

Elsewhere things are getting groovy. The new asphalt is a smooth as it is high tech.

But a specialist team must cut grooves in the pristine surface to let rain drain off and allow planes to catch a grip.

In another couple of nights, the whole project will be complete. About 52,000sqm of new surface will have been put in place.

By 05:00 on this particular morning, everything was on schedule. The new surface swept, the entire runway minutely inspected.

At 06:00 the first flight - to Amsterdam - took off.

No one on board - and few in the whole of Scotland - could have had any idea about what had been going on overnight.

BUSINESS Access, GTB, Zenith Record

N120bn Impairment Charges Access Bank Plc, GTBank Plc and Zenith Bank Plc, the three banks, which have so far released their audited results for the full year ended December 31, 2016, have made higher provision for loan losses, reflect- ing the challenging operating environment.

Page 23

CITYSTRINGS Onitsha's Recurring Fire

Disasters In just one month, Onitsha the commercial nerve centre of Anambra State and the Southeast, has experienced about four fire disasters, which destroyed businesses, property‌ Page 38

INTERNATIONAL Libyan’s General Haftar Launches Oensive on Key Oil Ports Troops commanded by Libyan renegade general Khalifa Haftar have launched an offensive to seize back control of two of the country’s key eastern oil terminals‌ Page 40

SPORTS NigerianDelegation ArrivesAddis Ababa to Drum Support for Pinnick Nigeria’s delegation to the 39th General Assembly of the Confederation of African Football (CAF), touched down here in Addis Ababa, Ethiopia yesterday.

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NEWS

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

Ortom Orders Fulani Herdsmen Out of Benue Communities House asks FG to immediately disarm herdsmen George Okoh Ă“Ă˜ Ă?Ă˜Ă&#x;Ă? Ă‹Ă˜ĂŽ James Emejo Ă“Ă˜ ĂŒĂ&#x;ÔË Benue State Governor, Samuel Ortom, yesterday directed security agents to ensure the exit of Fulani herdsmen from Buruku and Gboko Local Government Areas as a result of recent security breaches.

The directive came as the House of Representatives passed a resolution calling on President Muhammadu Buhari to direct the immediate disarmament of armed and strange herdsmen in Buruku and other parts of Benue State and throughout the country.

Ortom also requested them to arrest those of them responsible for killings in the areas.

He received reports after an on-the-spot security and humanitarian assessment tour of Logo and communities in Mbalagh part of Buruku Local Government Area that the invaders had killed six people in Igyorov council ward of Gboko.

Ortom said the communities in the affected areas told him they had no grazing land.

The governor gave the directives to the Commanding Officer of the 72 Special Forces Battalion, Colonel Nura Muhammad Inuwa, and the state Police Commissioner, Mr. Bashir Makama, after on-the-spot visits to trouble spots in Logo and Buruku Local Government Areas.

He lamented what he described as the cold blooded murder of residents in parts of Buruku and Gboko Local Government Areas saying it was clear that farming and grazing

were incompatible.

Ortom said after hearing statements from both sides, it was clear that casualties came only from the side of the invaded communities.

The governor urged the security agencies to live up to their responsibilities of securing life and property in the state and arresting those responsible for the killings.

According to him, the security agencies have assured him that by weekend, the invaders would be flushed out and the displaced would return to their ancestral homes.

He also donated relief materials comprising foodstuff and mattresses to some of those displaced.

Ortom urged the state House of Assembly to expedite action on the anti-grazing bill to pass it into law as a response to the renewed attacks on farmers by Fulani herdsmen in the state.

The governor appealed to the assembly to suspend action on the state budget if necessary in order to concentrate and complete action on the bill.

He also appealed to the federal government to act fast in coming to the aid of the state in stemming the current menace which he said was a repeat of the 2013 attacks that left in their trail widespread loss of lives and destruction across the state. “The federal government has been too quiet on this matter for too long, it must act fast to avoid another Southern Kaduna or Zamfara experience in Benue State. “There is no land for grazing in Benue State that’s why I keep

EFCC Intercepts N49m at Kaduna Airport John Shiklam Ă“Ă˜ Ă‹ĂŽĂ&#x;Ă˜Ă‹ The Economic and Financial Crimes Commission (EFCC) yesterday intercepted the sum of N49 million at the Kaduna airport.  The cash which was in  N200 and N50 denominations were fresh mint currency notes.

The owner of the money was said to have disappeared after realising that the EFCC officials were on his trail. The money consisted of N40 million in N200 notes and N9 million in N50 notes was wrapped in Nigerian Security and Print Minting Company (NSPMC) polythene wrappers and packed into five sacks.  While the two sacks contained only N200 notes, another two sacks contained a mixture of N200 and N50 notes, while the last sack contained only N50 notes. The Head of EFCC, Kaduna Zonal Office, Mr. Ibrahim Bappa, said the money was found at the baggage check-in area of the Kaduna airport, ostensibly about to be taken out, adding that when the EFCC operatives arrived at the airport following a tip-off, the owner fled the

airport. He said investigations were ongoing to find the owner of the money and find out if it was the proceeds of crime.

Bappa added that the money was handed over to the Central Bank of Nigeria (CBN) for onward transfer to the EFCC recovery account. “The EFCC Kaduna Zonal Office on March 13, 2017, intercepted an undeclared sum of N49 million in five large black 150kilogramme colour sack following an intelligence report received by the zone. “The owner of the money later showed up but couldn’t state the exact money in the sack or present any document authenticating the genesis of the money. “However, his inability to give any concrete explanation made him become uncomfortable and he disappeared into thin air before the arrival of the EFCC operatives according to our source of information. “There is no arrest yet but investigation is ongoing with a view to identify the owner and apprehend all those behind the crime,â€? he said.Â

emphasising that ranching which is the best global practice remains the permanent solution to the farmers, herders clashes,� he said.

He enjoined the people not to resort to self-help which he said would result in more unpleasant consequences but rather report infringements on their rights to security agencies for action.

The Sole Administrator of Logo Local Government Area, Mr. Mfaga Usula, appealed to both parties to use dialogue to resolve conflicts, saying the strategy had helped him greatly in resolving disputes between Fulani herdsmen and farmers in his council area.

His Buruku Local Government area counterpart, Mrs. Justina

Sorkaa, stated that eight people were killed by the invaders while indigenes of Binev, Mbatirkyaa and Mbakyongo have been displaced, and appealed for assistance to cater for those affected.

Ter Logo, Chief Jimmy Meeme, and Tor Jemgbagh, commended the governor for his concern and prompt response to tackle the crises and appealed for quick passage of the anti-grazing bill.

Meanwhile, the House of Representatives yesterday passed a resolution calling on President Buhari to order the immediate disarmament of armed and strange herdsmen in Buruku and other parts of the state and throughout the

country.

This followed a motion sponsored by Hon. Emmanuel Yisa Orkerjev (Buruku, APC) and 10 other House members condemning recent killings and wanton destruction of property by marauding herdmen in the state.

After an exhaustive debate on the motion, the House, which was presided over by the Deputy Speaker, Hon. Yusuf Sulaimon Lasun, unanimously resolved to further invite all heads of security agencies and service chiefs to explain measures so far taken to put an end to the crisis.

Members also urged the Inspector– General of Police to investigate the wanton killings

and destruction of properties, natural habitat and livelihoods of communities in Binev Council ward, arrest the perpetrators of these barbaric acts and restore security in affected areas.

It further condemned in strong terms, the persistent invasion and attacks on Benue communities by armed herdsmen- and urged the National Emergency Management Agency (NEMA) to send food and other relief materials to the affected communities.

The House had expressed dismay over the March 9, 2017 massive and violent invasion of communities in Buruku Local Government Area of the state, especially Binev Council ward by unidentified armed and strange herdsmen.

THE LAST JOURNEY HOME

Edo State Governor, Godwin Obaseki; his Delta State counterpart, Senator Ifeanyi Okowa; and wife of the late Gen. Samuel Ogbemudia, at the Benin airport, when they went to receive the remains of Ogbemudia, in Benin City... yesterday

Saraki, Dogara Visit Buhari, Say He’s Doing Well Assure of N’Assembly’s commitment to pass budget this month Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË Senate President Bukola Saraki and Speaker of the House of Representatives, Hon. Yakubu Dogara, yesterday visited President Muhammadu Buhari in the Presidential Villa, five days after he returned from London where he had gone on vacation since January 19.

The heads of the federal legislature who met with the president in his office behind closed-doors for over 40 minutes, said the meeting provided the platform to jointly review government activities when the president was away.  Answering questions from journalists on their assessment of the president’s health and particularly whether they found the president fit to discharge the functions of his office, Sarakisaid they engaged the president for over 40 minutes and the president equally engaged them.  According to him, they were

not only glad that the president was back to his duty post but was also doing his job. He listed issues discussed in the meeting to include: resolutions passed when Buhari was away, including the approval of Eurobond, the confirmation of the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen, screening of ambassadorial nominees, the ongoing budget process and the stability of the Niger Delta.  Saraki promised that the National Assembly was committed to passing the 2017 budget this month, explaining that the lawmakers were working hard to meet the March deadline set for the passage. “After being away for awhile, it is good for us to meet and generally review things that were done in his absence. So, it is a normal consultation.

I came here to discuss the issues regarding activities in the National Assembly in his

absence. The president met with us and I think we were there for over 40 minutes.  “I was not talking to myself.

So, you know he was responding and we were engaging and he engaged us very well. We discussed issues of national interest. So, we are happy to see him back and he is back at the office and he is doing his work.  “Well, the budget is ongoing.

Things that we passed in his absence, like the issue of the CJN, the Eurobond, just general issues that are pending, the issue of the ambassadorial nominees that is due, the stability in the Niger Delta a whole range of issues were covered in the short period of time. We are working on it (budget) and our target is still this month and we are working every hard to ensure we meet that deadline,� Saraki stated.  In his response, Dogara who said he did not come to the Villa

to assess the president, added that the National Assembly would always co-operate with the executive to ensure that the entire government succeeds.  “I didn’t come here to assess the president. Like the Senate president said, you guys are always here. You know. So, it shouldn’t be me lecturing you. You know better than I do. I have always said this even before Mr. President that in other climes, it is always the prerogative of the legislature to fight the executive.  “We fight on issues bordering on national interest but we expect to cooperate more than we fight in the interest of our people to ensure that there is progress, one government, no division. So, it is in the realisation of this that we will always extend the needed support to ensure that he succeeds so that our government will be rated as a successful one,�

Dogara said.

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COMMENT

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

THE SICK AND HIGH COST OF DRUGS The 20 per cent import duty on drug is making things worse, argues Sonnie Ekwowusi

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hen last did you go to the pharmacist’s shop or a chemist’s shop to buy your essential drugs? Prices of drugs, in case you don’t know, have become outrageous.

Medical doctors, pharmacists, chemists, nurses, healthcare practitioners and drugs seller trace the high cost of drugs to high duty slammed on drug importation. Access to health care services is a constitutional right, not a privilege but many Nigerians especially the poor are denied access to affordable health care in Nigeria. Over the years, Nigeria’s healthcare system has been in a shambles. By virtue of section 17 of our constitution the government is obliged to improve the welfare of Nigerian citizens by ensuring that they have access to adequate medical and health facilities. By fulfiling this obligation, billions of naira squandered in medical tourism every year would have been saved. President Buhari has just returned from London where he had been receiving medical treatment. If the quality of medical treatment in Nigeria were something to write home about President Buhari and other wealthy Nigerians would probably not have been habitually travelling abroad for medical treatments.

Medicine is becoming a disaster in Nigeria. The World Health Organisation (WHO) says Nigeria occupies the 187 position out of 190 countries in the World Health Ranking Systems. Medical infrastructure in Nigeria is nothing to write about. Diagnostic and medical equipment are poorly maintained. Even a few functional ones are now obsolete.

Wrong diagnosis of diseases has become the trademark of most Nigerian public hospitals. For example, a patient could be diagnosed of malaria while in actual fact he is suffering from typhoid and vice-versa. Taking advantage of this big lapse, the Indians and Chinese have flooded Nigeria especially Lagos with all sorts of diagnostics centres. Interestingly many government hospitals are now shamelessly taking their patients to these diagnostics centres established in our country by foreigners. Preventable diseases in other countries like polio, cholera and measles are still killer diseases in Nigeria.

To worsen matters, there are fake drugs all over the place in Nigeria. A couple of years ago, some Nigerian heart patients, under the aegis and sponsorship of Kanu Heart Foundation, underwent some heart surgeries in Nigeria. Even though the surgeries were successful some of the patients unfortunately died a few days later because they were administered with some drugs which turned out to be fake.

The most tragic is that genuine drugs are no longer available at the pharmacist’s and chemist’s shops in Nigeria at affordable prices. Everybody is worried. Veritable stakeholders such as the Association of Pharmaceutical Importers of Nigeria (APIN) are worried too. It says that the new duty placed on drug importation is the cause of high cost of drugs in Nigeria.

According to APIN, if healthcare services in Nigeria must be sustained the high duty placed on drug importation in Nigeria should be removed to enable stakeholders import enough drugs that would be sold at affordable prices.

But in speech after speech the Buhari government says it is

BY VIRTUE OF SECTION 17 OF OUR CONSTITUTION THE GOVERNMENT IS OBLIGED TO IMPROVE THE WELFARE OF NIGERIAN CITIZENS BY ENSURING THAT THEY HAVE ACCESS TO ADEQUATE MEDICAL AND HEALTH FACILITIES

tackling the crisis of medicine in Nigeria. President Buhari said: “Our goal of revitalising the primary health care centres is to ensure that quality basic health care services are delivered to majority of Nigerians irrespective of their location in the country”. But the government action sabotages this avowed objective. For example, the Federal Ministry of Finance has now introduced a 20% duty on drug importation in Nigeria. You may recall that in 1988 the World Trade Organisation (WTO) recommended to member states importing drugs and medicament to refrain from charging more than 5% duty on imported medicament. Even the ECOWAS Committee on health met and recommended a zero duty on imported medicament. Impelled by this ECOWAS’ gesture, the Nigerian government in 2013 introduced a zero duty on imported medicament. But unfortunately the Federal Ministry of Finance under the present Buhari government has imposed 20% draconian tax called “Import Adjustment Tax” on imported medicament in Nigeria. This new tax regime has led to an astronomical increase in the prices of drugs in Nigeria. It has further opened a gateway for fake drugs to strive in the Nigerian market. As we speak, many Nigerians who cannot afford the high cost of drugs have resorted to patronising herbal medicine practitioners, Babalawo, Dibias or juju men in order to manage their health.

Consequently, the Buhari government is respectfully advised to remove the strangulating “Import Adjustment tax” on drug importation in Nigeria. If Nigeria had agreed in 2013 to abide by the recommendation of the ECOWAS Committee that drug importation in the African Sub-Region should attract a zero per cent duty, why is the Ministry of Finance introducing a gargantuan 20% duty on drug importation in Nigeria? If other neigbouring African countries are operating a zero tax regime plus lower port charges on drug importation, why should Nigeria operate a 20% tax regime that has now rendered essential drugs inaccessible to the public? How will we cater for the numerous sick and aged Nigerians with a new tax regime that has made the importation of essential drugs into Nigeria virtually impossible? Is President Buhari aware of this 20% tax on imported drugs? If 80% of medicament consumed in Nigeria is imported, and if there are few or virtually no drug manufacturing companies in Nigeria, why place a heavy duty on drug importation?

Many sick Nigerians are dying today because they cannot afford to buy the exorbitant drugs sold in Nigeria. Therefore the Federal Ministry of Finance should have pity on them by removing the 20% duty on imported drugs so that enough drugs will be imported into Nigeria for numerous sick Nigerians to buy at affordable prices. We have to build a strong solidarity for the welfare of the sick. The rich cannot be travelling abroad to be getting the best medical treatment while neglecting our sick brothers and sisters in Nigeria. If man is said to be a social animal he should socialise with his sick neigbours and lessen their sufferings with essential medications.

THE BILLIONAIRE AMONG PAUPERS Dogo S. Nok argues that no one will be able to pull the wool over their eyes, again

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s the people of Southern Kaduna struggle to recover from the multi-million dollar shock and embarrassment that Mr.Andrew Yakubu assaulted them with by stashing such stupendous wealth in the midst of the poverty and squalor of his brethren, we must come to terms with the reality of stark greed and selfishness of our elite and potential political leaders. When Mr. Yakubu was appointed as the Group Managing Director of the Nigerian National Petroleum Corporation, most of us were proud that our son had successfully connected us to the mainstream of government recognition and patronage.

Today, at the peak of ravaging recession, we ponder with disbelief and disgust the selfaggrandisement that has dashed our expectations of communal empowerment even as Mr. Yakubu is now sponsoring dollarised propaganda that his well-deserved travails are nothing but ethnic victimisation of the people of Southern Kaduna!

If the flabbergasted commoners of Sabon Tasha are demanding not only the dollars but also the head of Andrew Yakubu for making an expensive mockery of their ghetto environment as a classical camouflage for concealing his sensational spoils of office, how can people of Southern Kaduna suffer the insult of becoming his mercenaries in addition

to the injury of being short-changed by their own son?

For the avoidance of doubt, the people of Southern Kaduna are not known to be ingrates wherever they have been. We have always rallied round our public-spirited compatriots in appreciation of their evident tangible contributions to bettering the lot of our struggling communities.

Andrew Yakubu was only a momentary star of Southern Kaduna people, taking the shine from his prized appointment but leaving his euphoric kinsmen in the dark shadows of selfish abandonment. Ever since his uncomplimentary ejection from office, he has withdrawn into a cocoon of close relatives practically deleting himself from the collective memory of his kinsmen in Southern Kaduna.

The sudden exposure of his staggering stack of dollars and pounds conservatively worth more than N3 billion, cunningly concealed in the desolate heart of a Kaduna slum, was therefore a tearful testimony to the accumulative acumen of Andrew Yakubu in self-service and his disdain for charitable endeavours. For someone who was NNPC GMD for only two years and left office almost four years ago to still be in possession of $9.8 million cash “gift” is a pointer to the “healthy” environment where he worked as well as his superlative stinginess. Not even one employment opportunity or one culvert has been attributed to

Andrew Yakubu despite his inestimable wealth!

Rather than turning into his ethnic solicitors and advocates now that he has been forced by personal hazard to realise the value of his kith and kin across Kaduna State, Andrew Yakubu should be left to stew in his own pot if only to serve as a life lesson to him and a deterrent to his elite colleagues in and beyond Southern Kaduna against abuse of office and neglect of their people and area of origin. At least we Southern Kaduna people are living witnesses to the sins of our selfish son, which cannot and should not be politicised against the laudable and highly effective unprecedented war against corruption waged by the indefatigable President Buhari and his corrective administration.

The anti-corruption crusade has so far claimed prominent sons and daughters from all the geopolitical zones of Nigeria with no particular sacred cow or no-go area. More importantly, “our man” Yakubu was caught with his cache of pounds and dollars in broad daylight and he has also claimed ownership without remorse, so where is the so-called ethnic persecution his propagandists are spinning?

As an indigene of Southern Kaduna, I am at pains when I reflect that we have the largest number of unemployed youths that have secondary school certificates in Kaduna State. I am at pains that most of these children of the poor are being misled into believing that the Hausa

Fulani are responsible for their predicament. I am more at pains when I read some jobbers claiming ethnic and religious sentiments are behind the Yakubu’s loot scandal especially when I know the first victim of Buhari anti-corruption war is Sambo Dasuki, a Muslim, a Fulani, and an aristocrat of the caliphate. Are we saying our faith and our culture encourage corruption and abuse of trust?

President Buhari should just fire full cylinders in pursuit and prosecution of as many thieving, serving and former top government officials and politicians as his anti-corruption drive smokes out.

He definitely has the support and commendation of the common people across Southern Kaduna who are actually angered by the Yakubu episode as it highlights the scale of diversion of our commonwealth and deception of the masses being perpetrated by greedy and selfish elite supposedly representing their people in government.

As far as the masses are concerned all the noise about ethnic and religious agenda in the on-going successful onslaught on corruption by the Buhari administration is nothing but the futile efforts of the cabal of corrupt people to fight back and retard the impact of the crusade. More culprits should be brought to book if necessary by establishing special courts that will be insulated from the time-wasting tactics of well-paid lawyers and corrupt judges currently delaying dispensation of justice.

Nok wrote from Kafanchan, Kaduna State

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EDITORIAL DEALING WITH THE FAMINE ALERT The best answer is to treat the alert by UNICEF seriously

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he recent alert by the United Nations International Children’s Emergency Fund (UNICEF) that nearly 1.4 million children were at “imminent risk� of death by famine is a cause for global concern. That Nigeria would be listed among such countries that include Somalia, South Sudan and Yemen, makes it even more worrisome. According to the UN agency, people are already starving to death in the four countries listed. “Time is running out for more than a million children,� UNICEF Executive Director Anthony Lake said in a recent press statement.

While UNICEF, which protects and defends the rights of every child across 190 countries and regions, has reassured that the effected countries could still save many lives, it is important for the federal government not to treat this as another political issue. ‘’We must not repeat the tragedy of the 2011 famine in the Horn of Africa�, warned UNICEF which also highlighted the fact that the severe malnutrition and the looming famine were largely man-made, and that common humanNO MATTER THE SPIN ity demanded faster OFFICIALS PUT ON THE action.

ISSUE, EMERGING FACTS Even before the SUGGEST THAT THERE UNICEF alert, the IS FOOD SHORTAGE IN authorities and MANY PARTS OF THE critical stakeholders were well aware that COUNTRY THAT HAS LED famine has been TO DESPERATION on-going in some parts of North-east where the Nigeria Army and other security agencies have been ďŹ ghting the Boko Haram insurgency. The number of children with severe malnutrition is already in the hundreds of thousands while the internally displaced persons (IDPs) are now in millions. The situation has been compounded by the recent ethno-religious crisis in Southern Kaduna, and pockets of other theatres of violence across the country. These crises have contributed to limited agricultural activities, disrupted trade ows and

Letters to the Editor

worsened food insecurity.

Right now, in the most affected states of Adamawa, Borno, Yobe and Kaduna, over millions of our nationals are said to be in need of humanitarian assistance, with more than 50 per cent of them children. They need food, water, sanitation, protection, shelter and health services. While it is very encouraging to see the federal government emphasising the importance of post-conict repossession and reconciliation, there are immediate needs to be met. This is where publicspirited individuals and humanitarian organisations within the country must come in to help.

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owever, the bigger responsibility lies with the federal government that should be more committed to creating a plan of action to place in order and sequence, the stabilisation and recovery interventions. The affected states should also advance comprehensive action plans based on their priorities and support some of the main concern areas that have already been identiďŹ ed: agriculture, social protection, health and education.

Like many groups have suggested, we believe that this is more than just an instantaneous humanitarian challenge for Nigeria. The failure to act and mobilise the full resources of the international community and others to contain the pain and suffering of internally displaced people will have huge consequences for our country. Living in denial, like the Minister of Agriculture, Chief Audu Ogbeh, recently chose to do by dismissing reports about famine, is not in any way helpful.

What we expect the authorities to do is to admit there is a serious humanitarian crisis. And with that, it is easy to mobilise Nigerians and the international community in the efforts to address the challenge. No matter the spin ofďŹ cials put on the issue, emerging facts suggest that there is food shortage in many parts of the country that has led to desperation. Unless something is done urgently, many of our people may die of famine. This is therefore the time to act to avert the looming catastrophe.

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

OBASANJO PRESIDENTIAL LIBRARY AND MATTERS ARISING

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r. Ayo Fayose, Governor of Ekiti state has at last clarified, what nearly everyone know about the much-vaunted Presidential Library of former President Olusegun Obasanjo, who used the occasion of his 80th birthday celebration to unveil the huge edifice. The problem is that the massive edifice whose opening attracted the cream of Nigeria’s aloof and insensitive elite is product of dubious fund raising, orchestrated by former President Obasanjo, using the exalted office of Nigeria’s Presidency. From Governor Ayo Fayose, it is now known that former President Obasanjo arm-twisted state governors to contribute a whopping sum of N10 million each to his personal project. This was addition to big government contractors and several other government spoon-fed businessmen and women who doled out fractions of their largesse to fund the presidential library. If the Economic and Financial Crimes Commission (EFCC) by any means, takes its job seriously, it would commence without delay or any formal petition, investigations into the funding of the General Obasanjo presidential library, using the clue already provided by Governor Fayose of how PDP governors illicitly transferred public funds to finance a private presidential library.

The miserable fate of Nigeria’s fourth republic inaugurated in 1999 and its burden on hapless Nigerians is not unconnected with former President Obasanjo’s political chicanery and many insidious manoeuvres that diminished the country in several respects.

More than a decade, after he rushed to accept the controversial ruling of the world court in awarding the Bakassi Peninsula to Cameroun, the miserable fate of the indigenes of the peninsula, whom

Cameroun promptly ejected, is still subsisting. They are still living in squalid refugee camp, where they were cruelly dumped. Apart from Obasanjo’s Nigeria, there is virtually no country that takes the ruling of the court very serious. Morocco diligently ignored the court in early 1970s after it ruled against it in the disputed Western Sahara. Colombia ignored the court ruling in the border dispute with Nicaragua. China recently snubbed the court ruling in a case brought against it by Philippines in respect of the dispute over the South China Sea. China as a policy believes that bilateral and consultative engagements with concerned states in dispute are more effective than international arbitrations, where vested extraneous interests intervene.

In a desperate bid to position himself as an African leader that the West can trust, former President Obasanjo acceded to the world court ruling to violate the country’s territorial integrity in peace time.

Paradoxically, the West that created and funded the world court and its twin international criminal tribunals do not belong or accept their jurisdictions. For his desperate third term, former President Obasanjo was ready to auction Nigeria at any forum to win the West over for his attempt at fraudulently changing the constitution and securing a third term in office.

In the way, he traded Nigeria’s territorial integrity, he also betrayed Africa’s diplomatic and political consensus that ended the durable Liberian conflict. African leaders have persuaded former President Charles Taylor to abdicate office as a means of ending the country’s long running conflict. Former President Taylor who did not lose the war in the battle field or lose election, acceded to the persuasion of his African peers, including Obasanjo. Because of his divisive political

stance, he not only accepted to step down voluntarily from the presidency but also live in exile as sacrifice for his country to mend and heal. In what in retrospect, turned out to be a brutally costly error, he chose Obasanjo’s Nigeria for his exile. Meanwhile, America’s surrogate international criminal court, issued arrest warrant against him, in complete disrespect of the Africa’s political and diplomatic effort to end the conflict in Liberia.

Former President Charles Taylor arrived in Nigeria with over 10 African heads of state to begin life in exile, with the process of his abdication becoming the first successful and a wholesome African diplomatic solution secured to end African conflict.

At the peak of his machinations to effect constitutional change and secure an illegal third term and in desperate bid to impress Washington, former President Obasanjo betrayed African political consensus and diplomacy and delivered former President Charles Taylor to the international criminal court. From then onwards, no African leader was willing to accept any African brokered diplomatic solution that Nigeria was involved. Recently, former Gambian eccentric strongman, Yahya Jammeh, snubbed West African delegation which included President Buhari, only to accept a settlement to leave the country, when the Guinean and Mauritanian leaders assured him of safe exile. In this case, Mr. Jammeh lost an election and former President Charles Taylor did not. As Obasanjo prattle the stage to celebrate his 80th birthday and inaugurate his presidential library, one wonders how this man pretends to be at peace with himself when Charles Taylor is serving out, an unjust and cruel 50-year jail term in the British prison.

Charles Onunaiju, Abuja.

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MIDWEEKPOLITICS

Group Politics Editor Olawale Olaleye Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY

THE NEWSMAKER

The Osun One-Man Show Continues Over two years into his second tenure, Governor Rauf Aregbesola of Osun State has remained a talking point as he governs without a cabinet, Davidson Iriekpen writes

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n interesting scenario is playing out Osun State. Since Governor Rauf Aregbesola was sworn into office in October 2014 for his second term, he has refused to appoint commissioners to assist him in running the affairs of the state.

All the governor did after his swearing in was to re-appoint Secretary to the State Government (SSG) and the Chief of Staff. Since then, he has been running what many in local parlance would call a one-man-show.

Presently in some key ministries, there are some individuals called coordinating directors who play roles similar to those of commissioners, and work with permanent secretaries, without recourse to the state’s House of Assembly.

Observers would recall that a similar scenario had played out during the governor’s first term when he delayed formation of his cabinet until ten months after. Even then, he was the Commissioner for Works while his deputy, Mrs. Titi Laoye-Tomori, doubled as Commissioner for Education.

Aregbesola’s decision not to appoint commissioners is certainly causing disquiet in the state as many believe that this anomaly has paralysed activities in some ministries in the state.

While the governor has consistently maintained that paucity of funds is responsible for his decision not to appoint commissioners, others believe that it is his unusual style of governance and totalitarian grip of the state that is responsible for his refusal to constitute his cabinet. Though, many observers know that the financial status of the state has been so bad to maintain commissioners and workers in the state are managing to cope with the prevailing hardship, others however allege that recklessness by the state government is responsible for the current difficulty the state is passing through. They noted that even when the state was buoyant in the governor’s first term between 2010 to 2014, it took him about 10 months and serious pressure to appoint commissioners.

This is why many people have been asking the governor what happened to the billions of naira the state got from the federal government since 2014? They have also contended that even some poorer states in the North that are not up to Osun in allocation, size and population have commissioners and have been coping with payment of salaries to civil servants, why not Osun?

As the agitation that the governor should constitute his cabinet heightened, many have risen to his defence, arguing that he has not committed any illegality by not appointing his cabinet. They also explained that Section 5 of the nation’s constitution gives him the executive power to make appointments whenever he wishes. Some explained that apart from the provisions of Sections 14 (3) and 147 of the 1999 Constitution, that made provisions for the president to “appoint at least one minister from each state, who shall be an indigene of such state,” which can also be applied to the states, the law did not specify a time frame for such appointment.

But others have argued that if it was the Peoples Democratic Party (PDP) that was involved in similar action, the All Progressives Congress (APC) would have done everything possible to make the state ungovernable.

Members of the civil society who usually raise eyebrow are suddenly quiet. Also worrisome is the fact that elders in the state are also not talking. In Osun, where is the opposition?

Prominent leaders of the civil society organisations in the state are now on the government’s side.

Those who prefer to speak, do so on condition of anonymity. The state House of Assembly which is vested with the powers to checkmate

Aregbesola...one man solo

the governor’s excesses has refused to live up to expectation.

“In Osun State, we don’t have House of Assembly. All those we have there are lackeys.

You will recall that part of the reasons why former governor of the old Kaduna State, Alhaji Balarabe Musa, was impeached in the second republic was refusing to appoint commissioners five months after assuming office. Yet, Aregbesola carries on his governance as if he is running his business. It is sad that a man who was made commissioner in Lagos for years cannot appoint commissioners in his state almost three years after.

“Even look at it differently, if a state has commissioners, it helps in reducing poverty. Do you know how many aides the commissioners will employ? Do you know how many people will depend on the commissioners and the poverty it will reduce? The man, simply put, does no know what he is doing,” says a public affairs analyst, Adeyemi Isaac.

The PDP which has been unrelenting in its effort to see the governor change his way of governance, recently described his refusal to

In Osun State, we don’t have House of Assembly.

All those we have there are lackeys.You will recall that part of the reasons why former governor of the old Kaduna State, Alhaji Balarabe Musa, was impeached in the second republic was refusing to appoint commissioners five months after assuming office.Yet, Aregbesola carries on his governance as if he running his business

appoint commissioners as “barbaric, illegal and unacceptable.” The Director of Media and Publicity of the party in the state, Prince Diran Odeyemi, said it was democratically faulty that half way into the life span of the administration, the state governor has refused to constitute his cabinet.

According to Him, the non-appointment of commissioners by Aregbesola was partly responsible for several of “his mistakes and inefficiency,” adding that the governor should be prevailed upon by the national leadership of APC to set up his cabinet. The party said the state’s failure to constitute a cabinet was encouraged by the federal government, whom it accused of granting Osun bailout funds without state executive council resolution on the matter as necessary condition for the release of such funds.

“It would surely surprise the whole world that Osun State has no state cabinet, even when those governors elected in 2015 have set up cabinet as demanded by the constitution. Aregbesola has been the governor, the Commissioner for Works and the sole administrator which conflicts with the dictates of genuine democracy and the constitution he swore to protect.

“While PDP is never interested in whatever crises the issue of who makes the list is causing within APC fold, our interest remains the good people of Osun State who always suffer the consequences of APC internal wrangling and off track administration of Arebesola,” Odeyemi said.

Odeyemi said the party has consistently put the governor to task on the matter, insisting that he is able to sustain the trend with the alleged tacit support of the APC-dominated state House of Assembly.

He said: “We have done our best as opposition party to draw the attention of the governor to this oversight and anomaly, but our calls for the formation of cabinet have fallen on deaf ears. The governor is able to get away with this act of illegality because he enjoys the full support of the state legislators who are members of his party.”

But in his reaction, Aregbesola said his government had instituted the most transparent financial system in the allocation of resources that accrued to the state, insisting that he could not pay salaries of commissioners now.

Aregbesola faulted the claim of the PDP that the bailout fund was diverted. He urged the party to always investigate thoroughly before

making pronouncement on the affairs of the state.

The governor said: “An accusation as weighty as diversion of bailout funds without proper investigation and concrete evidence to back such allegation simply amounts to recklessness in the exercise of freedom of expression.”

He said Osun pioneered the constitution of a committee saddled with the responsibility of assisting the state government in the allocation of state revenue to ensure prompt payment of salaries as well as adequate running of government.

“In our attempt to ensure transparency in our financial dealings, we inaugurated a committee headed by a veteran labour leader in person of Comrade Hassan Sunmonu. Other members included the chairman of Nigeria Labour Congress in Osun; Chairman of Joint Negotiating Council, Chairman of Osun’s Nigerian Union of Teachers and government representatives, who are not political appointees,” Aregbesola said.

He stated that the committee was aware of how the bailout funds was disbursed and so there was no way his government could have diverted or fixed the bailout as reported by some of the media organisations.

“I cannot be found wanting whether in bailout funds or other funds of Osun as we have been creative in the management of the scarce resources to lift the state beyond the limit of the available resources. Despite the meagre allocations coming from the federal government, Osun still pays salary. And nobody bothers to ask how we have been consistent in the payment of modulated salary of about N1.7bn when the state even once collected as low as N6 million one time,” the governor said.

On many occasions, the governor’s Director of Information and Strategy, Mr. Semiu Okanlawon, has always defended the action of his boss, saying he has not violated any law of the land by not appointing commissioners.

He said: “The establishment and composition of cabinet for a state, is provided for in the constitution of the country. And each state is expected to constitute its own cabinet as and when convenient. There is no law directing that the composition must be simultaneous across the 36 states.”

Okanlawon said with the structures in place, governance in the state has not for a day suffered any neglect even if it comes with a lot of pressure.

He explained further that beyond constitutional provisions, the systematic running of government certainly goes beyond commissioners alone.

“For instance, the most senior technocrats/ civil servants in any government ministry are the permanent secretaries and is the next in rank to a commissioner. Logically therefore, a permanent secretary stands in, in the absence of a commissioner. Again, the four mentioned political appointees and the permanent secretaries, also constitute the government- in-council, which means technically, a pseudo cabinet is in place.”

Okanlawon, said: “It’s not the wish of the governor not to appoint commissioners and therefore it’s a situation foisted on him by the economic situation of the country which is known and being felt by all. It’s not been easy because this has overstretched the capacities of the few in government and the former appointees who are sacrificing their time and energy and resources to support him in running the government which has however not disappointed the people in ensuring good governance continues.

“For authenticity sake, you can approach the Debt Management Office to know the exact debt profile since traducers have busied themselves fabricating figures. We however say Osun has not borrowed beyond its capacity and the impact of the moderate borrowing are felt through our massive infrastructure provision, security, health education social welfare and others,” Okanlawon said.

T H I S D AY ˾ WEDNESDAY, MARCH 15, 2017

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PERSPECTIVE

MIDWEEKPOLITICS

How Ngige Democratised Africa’s Labour Centre The wind of change is blowing overAfrican Regional LabourAdministration Center, the continent’s training institute for labour administrators. Simeon Obidiwe, in this account, tells how Nigeria led the move for the democratisation of the centre’s management

A

frican Regional Labour Administration Centre, (ARLAC) is a body set up by the International Labour Organisation (ILO) in 1974 as part of its institutional framework to build the capacity of labour administrators in English-speaking African countries. With its headquarters in Zimbabwe, the South African nation, over the years, appropriated this privilege with the shrewd but active support of mostly English-speaking neighbouring countries, running the organisation in an imperial style for forty-three years.

An organisation whose sustenance Nigeria has majorly contributed to, Zimbabwe did not only corner its executive powers, but also monopolised its senior administrative structure, leading to the frustration of a Nigerian, a director with Federal Ministry of Labour and Employment posted to its management cadre early this year.

While section 3 of the ARLAC Agreement and Procedure states that election into the executive offices shall hold every two years, this has been observed in breach.

But it was at the June 2016 International Labour Organisation (ILO) Convention in Geneva that Nigeria’s Minister of Labour and Employment, Senator Chris Ngige, who was attending the conference for the first time, posted a timely warning that ARLAC must democratise or Nigeria would reconsider its participation.

The main ILO convention has just ended and the meetings of the subregional groups followed, one of such being the ALARC Governing Council held at Labour House in Geneva on June 8, 2016. Mid way into the meeting that had all the member nations in attendance, Nigeria raised the issue of the executive and the administrative structure of the regional labour body. ARLAC’s chairperson and the Zimbabwe’s Minister for Public Service, Labour and Social Welfare, Hon. Priscah Mupfumira, who usually makes no pretence of her disdain for plural views, especially coming from Nigeria, would have none of that. Her mine-is-bigger-than-yours bravado is astounding. With hands raised thrice and ignored by the chair, Ngige, not meant for half measures, and fully aware of a possible deflation of a diplomatic ego, flatly shunned subsequent overtures by the ARLAC chair and directed the Permanent Secretary of his Ministry, Dr. Clement Ilo, to rather speak. He only watched for the rest of the meeting, while within, decided that this soft but brash dictatorship, arising from the permanent chairmanship of Zimbabwe, maintained through the active connivance of mostly English-speaking neighbours, must be broken.

And the opportunity came at the just concluded 43rd ARLAC Governing Council Meeting and High Level Symposium on Fundamental Principles and Rights at Work held at Victoria Falls, Zimbabwe.

Before the meeting, the minister had gone on bridge building, knowing that English West Africa comprising Nigeria, Ghana, Liberia, Sierra Leone and The Gambia; with Sierra Leone being inactive, and The Gambia, a non-member, would not muster the numerical strength to break the South–eastern bloc with many English-speaking countries. He was undeterred, however, having elicited the active support of Ghana and Egypt.

The technical sessions took place between February 27 and March 1, where the agenda for the Ministerial Govern-

Ngige...broke the jinx

ing Council was prepared. Then, came Thursday, March 2, when the opening session broke with an awakening address by the ILO Assistant Director-General and Regional Director for Africa, Mrs. Aeneas Chuma, who stressed the need to make the ILO more responsive to the needs of Africa while the tone for the crucial stage of the conference was set by chairperson

You are aware that Zimbabwe has been the chairperson of ARLAC since formation by the virtue of the fact that its headquarters is domiciled in the country. However, Nigeria reasoned the need for full democratisation of the body to enhance freedom and encourage efficiency

Mupfumira.

The tea break of 15 minutes separated the opening from the crunch. Nigeria had the floor and a frozen panic appeared on the faces of ‘conspirators.’ Ngige raised the issue of “the unfinished business of June 8, 2016 which was on the paper as a matter arising from the 42nd ARLAC meeting … the democratisation of the structure of our organisation…” The silence was deafening, pin drop could be heard. Nigeria’s Labour Minister went on and on and landed. Overpowered by superior argument, the southern alliance began to give way, and the need for what ought to, broke down behind-the-scene understanding.

Bottom-line, while not making it an outright antagonistic challenge, Nigeria was elected Vice Chair and conceded that Zimbabwe continue as chair but no more as an emperor, rather, a slot, subject to timely democratic elections. One of the three slots for Deputy Directors in the interim management body was also given to Nigeria.

Reacting to the development, Ngige said: “You are aware that Zimbabwe has been the chairperson of ARLAC since

formation by the virtue of the fact that its headquarters is domiciled in the country.

However, Nigeria reasoned the need for full democratisation of the body to enhance freedom and encourage efficiency. While we ceded the chairmanship to Zimbabwe and Nigeria unanimously elected deputy, it stands that periodic elections which we galvanized support for, has replaced an era where Zimbabwe or any other country would appropriate such privilege as a right.

He added: “The election shows a lot of respect, trust and faith in Nigeria’s leadership role in the continent. They appreciate our concern for Africa, our unity and our commitment to the economic and socio-political development of our continent and above all, our commitment to decent work practices where, Nigeria has domesticated almost all the ILO conventions.”

By the side lines of the meeting, Ngige was overheard telling a colleague, “ any day the chair strays or lolls to her old bully habit, she would be voted out.” t 0CJEJXF B QVCMJD PQJOJPO BOBMZTU XSPUF JO GSPN "CVKB

WEDNESDAY, MARCH 1 5, 2017, ˾ T H I S D AY

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FEATURES

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

Celebrating Reading On March 2, millions of people across the world marked World Book Day. To commemorate the day, the Sang Bleu Academy got in on the act by organising a flash mob at the heart of Lagos, writes Solomon Elusoji

A cross section of the kids holding cardboard for #blackchildrenread

A

t exactly 11:31a.m. on March 4, kids from Sang Bleu Academy, aged between 3-9 years, were huddled at the centre of the Palms Mall in Lekki, holding posters that bore words such as ‘Reading Gives You a Voice’ and ‘Readers Lead’. Full of energy, they performed poetry and danced to music – pulling a crowd in the process – to spread the message of reading, in commemoration of World Book Day which had been marked worldwide two days earlier.

World Book Day is a celebration of authors, illustrators, books and most importantly it’s a celebration of reading. In fact, it’s the biggest celebration of its kind, designated

by UNESCO as a worldwide celebration of books and reading, and marked in over 100 countries all over the world. Although it is usually marked on April 23, this year it fell on March 2, the organisers taking into consideration religious holidays, school terms and potential conflict with other charitable activities.

According to Wikipedia, the connection between April 23 and books was first made in 1923 by booksellers in Catalonia, Spain.

The original idea was of the Valencian writer Vicente Clavel Andrés as a way to honour the author Miguel de Cervantes, who died on this

date. In 1995 UNESCO decided that the World Book and Copyright Day would be celebrated on April 23, as the date is also the anniversary of the death of William Shakespeare and Inca Garcilaso de la Vega, as well as that of the birth or death of several other prominent authors.

In a historical coincidence, Shakespeare and Cervantes died on the same date — April 23, 1616 — but not on the same day, as at the time, Spain used the Gregorian calendar and

When we started the Academy, we wanted to be a school that’s known for raising a generation of writers and for you to be a writer, you need to have read a lot of materials and be able to put your thoughts down.

So we wanted to encourage reading

England used the Julian calendar; Cervantes actually died 10 days before Shakespeare did.

The kids from Sang Bleu are ambassadors of the #blackchildrenread read initiative which was launched by the Sang Bleu Academy in May 2016 “with the aim of sensitising our immediate community on the importance of reading, irrespective of their circumstances.”

The initiative is chaired by the Academy’s Head of School, Ms. Tobi Ita, who believes that black people are notorious for being acute non-readers, a situation which has to change.

She’s right. Take Nigeria for example, a country with a population of over 170 million people.

Bookshops are scarce commodities and there is little demand for commercially published books. In fact, available statistics show that almost half of the population are English illiterates, the country’s official language.

In December 2010, former Nigerian President, Goodluck Jonathan, flagged off a Bring Back the Book project, designed to encourage the culture of reading. The flagging off of the project, which was headlined by important cultural and intellectual figures like Nobel Laureate, Wole Soyinka and poet, Odia Ofeimun, received wide acceptance and promised to do so much. But the cracks soon started to appear.

The following year, award-winning writer,

Tolu Ogunlesi in an editorial titled ‘Can you “Bring Back the Book” to a Country that cannot Afford to Read’, wrote: “Nigeria has no national funding for the arts, no government-run grants-awarding body to support the production of books, and no National Book Policy. In place of a proper publishing industry, the country is awash with book printers, supporting a flourishing clan of self-publishing authors. Distribution systems, where they exist, are non-efficient.

Illiteracy is rampant, half the 150 million people live in poverty, and for most people buying a mere paperback remains a luxury.”

Today, President Jonathan has vacated Aso Rock and Bring Back the Book is dead and buried. Yet, the poor reading culture still remains, a malaise Ita says she wants to combat.

“When we started the Academy, we wanted to be a school that’s known for raising a generation of writers,” she tells THISDAY, “and for you to be a writer, you need to have read a lot of materials and be able to put your thoughts down. So we wanted to encourage reading.

“So the Academy started a book club where they ensured the kids read a lot of books and share their understanding of the text. What we found out was that for every session, every

WEDNESDAY, MARCH 1 5, 2017, ˾ T H I S D AY

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FEATURES

Let the children read, the kids say

The kids on the dance floor

child understood the same text differently.

And that was what we wanted – for the kids to have their own voices.”

Ita believes that “in this digital age, with

If people do not read, they will be deformed but when one picks up the habit of reading, it has the power to change one’s mindset

unlimited access to information via the web, people need to learn to validate information by themselves. Reading and critiquing should become second nature to us.”

On World Book Day, the academy had had the kids dress up as their favorite book characters and let them share, at school, why they love the characters. “They were very excited about their costumes. We had Rapunzel, we had Spiderman, we had Cinderella, and a lot of other characters from famous books.”

And the results seem to be kicking in. Kalah Aggreh, a seven-year-old student of Sang Bleu Academy, was part of the Flash Mob and she

was excited at the opportunity to encourage more people to read. “I love reading books,” she told THISDAY, “because reading gives you a voice.” Nine-year-old Favour Alonge was another Sang Bleu Academy student at the book event. She was equally enthusiastic at letting people know the power of reading.

“When we read we gain knowledge and it influences our mind,” the girl, whose favorite book is Sleeping Beauty, she said.

A class teacher at the Academy, Simon Usama, also noted that creating awareness was important to get more people reading. “If people do not read, they will be deformed,”

he said, “but when one picks up the habit of reading, it has the power to change one’s mindset.”

However, Ita is not resting on her oars. On May 27 last year, the #blackchildreninitiative reached out to Ilasa community in Lekki to celebrate with the children and distributed free books. This year the academy hopes to be able to do more to encourage more people to read, by launching a scholarship programme that gives kids, between the ages of three and five, the opportunity to become book lovers at Sang Bleu. “We like to convert them at a very early age,” she said.

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IMAGES

L-R: Group Public Relations / Events Manager, DuďŹ l Prima Foods Plc, Tope Ashiwaju; Big Brother Naija 2017 Contestant, Uriel Oputa; and Digital Marketing Executive, Indomie, Edien Omotola, during a courtesy visit by Oputa to Indomie OďŹƒce in Lagos... recently

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

L-R; Programme Manager, International Women Day Organising Committee, Ecobank Nigeria Ltd, Adeola Oyetan; Chairperson; Joke Bello, Head Nurse, Hearts of Gold Children’s Hospice, Chinwe Ekejiuba; Member, Organising Committee, IWD, Ecobank, Esther Obot; and Omoboye Odu, during the presentation of gift items to Hearts of Gold Children’s Hospice, Surulere by Ecobank team as part of International Women Day Celebration in Lagos... recently sunday adigun

L-R, Chairman, Board of Directors, Healing Stripes Hospital, Pastor Idowu Iluyomade; Doctor-in-Charge, Dr. Ezinne Onyemere and Zonal Business Manager, Lagos Coastland, Airtel Nigeria, Alex Utethe at the commemoration of World Kidney Day by Healing stripes Hospital in partnership with Airtel Nigeria in Lagos... recently.

L-R: Head Corporate Marketing, LG Electronics West Africa operations, Mr. Rajesh Agnihotri; General Manager Air Conditioning and Energy Solutions,, Mr. C.Y Park;Assistant Manager, Corporate Communication, Mrs. Esther Fagbola; and Technical Manager,, Mr. Vijay Bakshi, during the donation of LG Dual Cool Inverter Air Conditioner to the University of Lagos in Akoka Lagos... recently

R-L; Founder/National President, Oodua People’s Congress (OPC), Dr. Frederick Faseun; Deputy President, (OPC) ,Alhaji Wasiu Afolabi; and the Second Vice President, Olasunkanmi Balogun, at a press conference on the state of the country in, Lagos‌recently sunday adigun

L-R; Brand Marketing Manager, OLX, Fifemayo Aiyesimoju; Sector Commander, Federal Road Safety Commission, Hyginus Omeje; PR & Communication Lead, OLX, Uche Nwagboso and Business Operations/ Finance Manager, OLX Goodluck Ikporo during OLX courtesy visit to the Corps. Commander Federal Road Safety Corps, in Lagos... recently.

Supporters of # I stand with Buhari on a peaceful procession at Alex Ekwueme Square Awka, Anambra State....recently

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WEDNESDAY, MARCH 15, 2017, ˾ T H I S D AY

BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

A S

A T

NIBOR 15.3333% 17.0332%

3-MONTH 6-MONTH

20.1621% 23.1621%

M A R C H 9 , NITTY 1-MONTH 2-MONTH

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

2 0 1 7

13.0970% 14.0684%

3-MONTH 6-MONTH

15.7898% 19.6644%

EXCHANGE RATE N305.50//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Heritage Bank Promotes Nigeria’s Culture

As part of its corporate social responsibility, Heritage Bank Limited said it is promoting the country’s rich cultural heritage to the global community through the on-going Big Brother Naija.

The bank said in a statement that the feat was executed by tasking housemates to find a common ground by drawing from and blending their different, unique personalities and cultural backgrounds to create a perfect Big Brother Nigerian wedding during the week. Recently, the housemates were introduced to the theme of the week: Big Brother Perfect Wedding. According to Heritage Bank, Nigeria encompasses a diverse range of human activities, creations and ways of expression, including music, literature, film, sculpture and paintings, a powerful tool to build businesses, connect individuals across cultures, educate and enrich societies. Dressing is a component of culture, reflecting economic and socio-political substrates of the people. In the past, they have supported the arts sector and have promoted cultural heritage of our people through art exhibitions.

Access Bank Ghana Wins Award

MEDIA PARLEY ON WCBI

L-R: MD/CEO, Fidelity Bank/Co-Chair, World Conference of Banking Institutes (WCBI), Organising Committee, Mr. Nnamdi Okonkwo, HCIB; Chairman, Organising Committee, WCBI, Dr. Segun Aina, OFR, FCIB; President/Chairman of Council, CIBN, Prof. Segun Ajibola, FCIB; Co-Chair, WCBI Organising Committee, Otunba Adebola Osibogun, FCIB at a press conference to announce the forthcoming WCBI in Lagos … recently

Access, GTB, Zenith Record N120bn Impairment Charges Goddy Egene Access Bank Plc, Guaranty Trust Bank (GTBank) Plc and Zenith Bank Plc, the three banks, which have so far released their audited results for the full year ended December 31, 2016, have made higher provision for loan losses, reflecting the challenging operating environment.

The banks recorded total loans and advances of N5.687 trillion as at December 31, 2016, showing an increase of 20 per cent compared to N4.727 trillion in 2015. However, the combined loss provisions jumped by 183 per cent from N42.297 billion in 2015 to N119.59 billion in 2016.

GTBank led the pack with the highest impairment charges of N65.29 billion in

CAPITAL MARKET 2016, indicating a surge of 426 per cent from N12.4 billion recorded in 2015. GTBank’s loans and advances stood at N1.589 trillion, implying that the loan provision for loss is 4.1 per cent.

Zenith Bank Plc followed with impairment charges of N32.35 billion, up by 106 per cent from N15.673 billion in 2015. With a loan book of N2.289 trillion, the provision shows 1.4 per cent.

Access Bank Plc, which ended the year with a loan book of N1.809 trillion, made provision of N21.952 billion for loan loss, indicating 1.2 per cent and 54 per cent higher than the N14.224 billion impairment

charges recorded in 2015.

Although the banks ended the year with higher impairment charges, they also closed the year with higher profitability.

GTBank grew its profit after tax by 32 per cent from N99.4 billion in 2015 to N132 billion.

Zenith Bank Plc’s PAT stood at N129.65 billion, indicating a growth of 22.7 per cent above N105.66 billion in 2015. Access Bank grew its PAT by 8.5 per cent to N71.4 billion, from N65.9 billion in 2015.

Commenting on the results, Group Managing Director/ Chief Executive Officer, Herbert Wigwe had said: “The full year 2016 results demonstrate the effective execution of our strategy underpinned by a robust risk management framework. With

strong business fundamentals, our position in the top tier was further consolidated in the industry.”

While acknowledging the macroeconomic environment in 2017, Wigwe assured that “our objective of delivering sustainable shareholder value remains unchanged. We will also continue to maintain our proactive and disciplined risk management practices and leadership in sustainability initiatives, whilst positioning ourselves strategically to take the lead in the markets we play.”

On his part, the Managing Director/CEO of Guaranty Trust Bank Plc, Mr. Segun Agbaje, said: “The bank’s Continued on page 24

Improved Rice Output May Ease Pressure on Household Income Obinna Chima There are indications that the rice prices which had doubled over the course of last year are beginning to reduce.

With prices now trending lower, it thus appeared that government measures may be yielding fruit, a report by CSL Stockbrokers has stated.

Recent findings from Novus Agro, an agro based consulting firm, showed that a 50kg bag of rice on average, now trades 19 per cent lower than it did in December 2016, across markets in Lagos. Rice is a leading staple food and makes up a consid-

ECONOMY erable portion of household expenditure in Nigeria.

Nigeria is the world’s second largest rice importer, with an estimated annual demand of 5.2 million metric tonnes (mmt) as of 2016, well above local production of c.2.7mmt.

The federal government and the Central Bank of Nigeria (CBN) had been aggressive in their drive to revive and improve the rice value chain.

Rice imports through land borders are now restricted, while imports that come in through the ports attract sizeable import

duties and levies. Furthermore, rice importers encounter difficulties in obtaining FX due to their restriction from the official FX market, and as such, have to source from the parallel market which currently trades at a premium.

Reports had alluded to a lot of progress made by a number of states in ramping up productive capacity, most notably Kebbi and Anambra.

In particular, increased output from Kebbi has paved way for a joint venture between the its governments and that of Lagos, under which rice brand Lake Rice is reportedly being

sold at a subsidized price of N8,000/50kg bag (US$25.4/50kg bag) compared with the present average price of N14,900/50kg bag.

The Anchor Borrowers’ Programme (ABP) is the platform through which the central bank has been supporting rice farmers. The programme was designed to assist small scale farmers to increase the production and supply of feedstock to agro-processors.

The programme is an initiative of the central bank aimed at creating an ecosystem to link Continued on page 24

The Chief Executive Officer of Access Bank Ghana, Dolapo Ogundimu was recently voted the ‘Most Reputable Ghanaian Bank CEO’ in a poll led by South African based reputation management agency, Reputation Poll and one of the leading PR and rating agency, Avance Media. The ranking poll which featured all 34 distinguished leaders of Class 1 Banks in Ghana, saw Ogundimu emerge the ‘Most Reputable Bank CEO’ with by 17 per cent of votes from the over 3000 voters who participated in the polling exercise. Ogundimu, who has schooled at both Harvard and Columbian Business School pioneered Guaranty Trust Bank to become one of the most successful banks in the industry before his appointment in 2012 as Managing Director of Access Bank Ghana. Emerging second in the poll was Ms. Patience Akyianu, MD of Barclays Bank Ghana, who also earned the leading spot among the only four female bank CEOs in Ghana alongside Marufatu Abiola Bawuah of UBA Ghana who took the overall 7th position.

Ecobank Staff Supports Children

Ecobank Nigeria staff last weekend donated various items to Hearts of Gold Children’s Hospice, Lagos as part of activities to mark this year’s International Women’s Day (IWD).

The member, organising committee, IWD, Ecobank Nigeria, Omoboye Odu, said the kind gesture was borne out of a desire to touch the lives of the children by assisting to shape their future, education and lifestyle in a more positive way.

“As mothers working in Ecobank, we decided to do something that will show bold and inspire change in our community. Hearts of Gold is a community we are committed to and is very close to our hearts. So we are here to donate gift items mainly foods, beddings and others that will help the caregivers to take good care of the children living in the home.” She opined that the donation was in also in line with Ecobank’s corporate social responsibility (CSR) policy to help improve the lives of children in need. “What we are doing today is part of Ecobank DNA.

Goldlink Pledges Compliance withTax laws

Acting Managing Director of Goldlink Insurance plc, Mrs. Funke Moore, has assured the Federal Inland Revenue Service ( FIRS) of her company’s total support and compliance with its tax requirements. Moore, who gave the assurance during a compliance visit of the FIRS team to the company recently lauded the FIRs for its support to the company during its period of ordeal. Moore pledged her company’s unwavering support and commitment in ensuring full compliance with tax laws and obligations adding that the company is now in better position to fulfill its tax obligations.

Goldlink Insurance was licensed in 1993, and has been one of the foremost and experienced underwriters in the Nigerian insurance industry, providing cover for Life and General Insurance businesses.

I am not unaware of the short-term pains we are all going through right now.

But I urge you all to use it as an opportunity for us all to look inwards, diversify our economy and produce locally

CBN Governor

Mr. Godwin Emefiele

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WEDNESDAY, MARCH 15, 2017, ˾ T H I S D AY

BUSINESSWORLD ACCESS, GTB, ZENITH RECORD N120BN IMPAIRMENT CHARGES financial performance in 2016, does not only reflect the resilience of our franchise, it demonstrates the fundamental strength of our businesses to deliver sustainable long-term growth. We successfully navigated the heightened economic uncertainty and regulatory headwinds which dominated the year to deliver a solid performance across all financial and non-financial indices.”

IMPROVED RICE OUTPUT MAY EASE PRESSURE ON HOUSEHOLD INCOME out-growers (small holder farmers) to local processors, increase banks’ financing to the agricultural sector enhance capacity utilisation of agricultural firms involved in the production of identified commodities and as well as the productivity and incomes of farmers.

Already, the pilot phase for rice farmers had been adjudged as successful as it led to increase rice yields and financial rewards to the local farmers. The anchor borrowers’ programme is also a platform to build capacity of banks in agricultural lending to farmers and entrepreneurs in the value chain, reduce commodity importation. The programme is hinged on three pronged approach namely the out-grower support programme; training of farmers, extension workers and banks; and risk mitigation.

The Minister of Agriculture, Chief Audu Ogbeh recently noted that with the gradual extension of the ABP to more states in the country, the federal government would end importation of rice in the next one year. According to him, the food importation bill of the country which stands at between $2 and $3 billion is unacceptable.

“In fact we may stop rice importation sooner than that.

It is final word I am telling you, because Nigerians have proven that they can do it.

I am also proud of the role the CBN is playing because they are giving a lot of credit support.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Insurance Operators Storm International Markets to Woo Investors Ebere Nwoji

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)

this year.

The commission said the introduction of the model will witness review of existing capital of the industry operates.

The risk-based supervision, according to the World Bank, is a supervision approach that considers each of the risks that companies face and through a structured process, identifies the risks that are most critical to the financial viability of the

institution.

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

Introduction of the model in insurance industry is a sharp migration by the NAICOM from the hitherto compliance-based supervision model and is part of its steps to build globally

competitive industry.

Speaking on his company’s effort towards injecting foreign funds to its operations, Managing Director, Niger Insurance Plc, Kola Adedeji told THISDAY that his company is looking for foreign investor not only for growing its capital size but for blending and greater exposure.

“Aligning with foreign investors has a lot of advantages, in area of product development,

the skill set, knowledge, we want them to blend and we need greater exposure, so that we can innovate. We can’t do it on our own but I must tell you there are a lot of interests in Nigerian insurance industry from outside the world, a lot.

Anytime you go out you meet enquiries. So the board decided we bring in foreign investors for reason of greater exposure”, he said.

As the insurance Industry regulatory body, the National Insurance Commission prepares to enforce the regime of the Europe -adopted Risk Base Supervision model in Nigeria, most sector operators have stormed foreign investment markets in search of partners for mergers and acquisitions.

The operators said their earnest search for foreign investors was also necessitated by the need to expand their operating capital and be in position to handle big business tickets, which are presently taken abroad despite the local content policy of the federal government.

Those who have already visited the global investment market said the coast is bright and promising as foreign investors themselves see Nigerian insurance landscape as a virgin land worth investing in as a result of Nigeria’s huge population.

At the fore front of this adventure are; Niger Insurance Plc, Royal Exchange Assurance Plc Universal insurance, International Energy insurance among others.

These companies said they are already discussing with foreign investors who have indicated interest to invest in Nigeria.

NAICOM had said it would L-R: British Deputy High Commissioner to Nigeria, Laure Beaufils; awarding certificate of professional achievement to the Knowledge introduce the Risk Base Supervi- Management Specialist at the Central Bank of Nigeria, Dr. Paul Oluikpe, at the British Council Alumni Award 2017 Programme held in sion model in Nigeria in July Lagos…recently

A WELL DESERVED HONOUR

Dangote Salt, NAFDAC Collaborate to Sanitise Food Market The management of Dangote Salt and the National Agency for Food and Drugs Administration and Control (NAFDAC) have expressed their readiness to collaborate and corroborate efforts to rid the food market of unwholesome practices by unscrupulous traders.

The two agencies resolved to work together closely to monitor the quality of products that are delivered to the market after ascertaining that the right quality of products are taken out of the factory.

The management of NASCON Allied Industries Plc led by the Managing Director, Mr. Paul Ferrer and the Dangote Group’s Chief Corporate Communication Officer, Mr.

Anthony Chiejina had paid the Agency Director-General, Mrs. Yetunde Oni a courtesy visit in her office in Lagos.

Ferrer had expressed satisfaction at the efforts of NAFDAC leadership to sanitise the food market by getting rid of fake and substandard products and turning the heat on the perpetrators, adding that the efforts had paid off.

He however observed an infringement on the directives of the Agency on the packaging of industrial salts by some undesired elements.

According to him, contrary to the directives of the NAFDAC that industrial salt should only be packaged in 50kg, his organisation observed

the existence of the industrial salt in small sizes as 5kg, 10kg, 15kg, and 20kg.

He reasoned that someone somewhere has been repackaging the 50kg size to smaller sizes and supplying to the markets, a development he said is dangerous as people may be misled to be buying the industrial salt in place of the table salt, which comes in the smaller sizes.

The Dangote Salt boss therefore enjoined NAFDAC to help see to the development as the unsuspecting consumers might not know the difference between the iodised table salt and the industrial salt.

In her response, Oni thanked the NASCON management

for the confidence reposed in her Agency. She said the observation was one of the many infringements the agency has been battling tooth and nail and that the NAFDAC management would not relent in the fight against every infringement to see that the people have access to right quality products always.

She advised companies in the food sector to have a Post-Market Surveillance (PMS) unit in their establishment for self regulation of their market to make enforcement easier for NAFDAC. According to her, investigations have shown that right quality products are taken out of the factory for distribution

into the market but on getting to the market, some products quality would have been diluted and repackaged as the case may be suggesting that the repackaging and dilution of quality happened along the value chain by unscrupulous element.

Oni said the Agency would not accept a situation where some criminals would be clandestinely diluting genuine brands saying that amounts counterfeiting and which must be dealt with, hence the need for primary self regulation by the companies through the PMS unit which will collate intelligence and hand them over to NAFDAC for enforcement.

NDDC Wants Host Communities, Contractors to Collaborate on Projects Goddy Egene

Comms/e-Business Editor

Emma Okonji

NEWS

The Niger Delta Development Commission (NDDC) has decried undue pressure on its contractors in some of the projects sites by host communities, saying cooperation would lead to successful execution of such projects.

The Member Representing Edo State on the board of the commission, Hon. Saturday Uwuilekhue, who expressed the concern at a meeting with contractors and consultants handling NDDC projects in Edo

state, cited the development as one of the major reasons why some of the projects were not executed as fast as they should.

“Every stakeholder, including contractors, consultants and host communities of NDDC projects must collaborate at ensuring timely execution of projects. Some of the projects that were not progressing as fast as they should are stalled by activities of communities who make unfair demands on the Commission either in form of unnecessary compensation or in requesting for the execution

of some aspects of the contract that are obviously beyond their capabilities,” he said.

According to him, before he assumed office, he never quite appreciated the efforts of the Commission in achieving its mandate of developing the Niger Delta region.

“But having visited some of the projects sites being handled by the Commission across the state, I have now realised that NDDC is doing so much to better the lives of the people. Those saying that the Commission is not doing

enough, make such assertions based on the information at their disposal. I therefore use this opportunity to call on anyone interested to take time to visit different projects of the Commission before drawing conclusions,” he stated.

Uwuilekhue reiterated his preparedness to work with all tiers of government and other developmental agencies in order to ensure that the people of Edo state get maximum benefit of being an oil producing state.

The NDDC commissioner who thanked Governor Godwin Obaseki of Edo State for his support, explained that called the meeting to strengthen partnership among critical stakeholders.

I am not unaware of the huge debt profile the present board inherited which is affecting its ability to pay as at when due but we are tackling the issue systematically and as well as check the mistakes of the past in line with President Muhammed Buhari’s charge to the board,” he said.

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NEWS

ELEVATING TO THE NEXT LEVEL

Customs Hands Over 661 Pump Action Rifles to DSS Eromosele Abiodun The Nigeria Customs Service (NCS) has handed over the 661 pump action rifles recently seized by the roving team of the Federal Operations Unit (FOU), Zone A, Ikeja to the Department of State Security (DSS) for further investigation.

The NCS had on on Sunday, 22rd of January 2017 arrested a Mack truck with registration number BDG 265 XG conveying a 1x40ft Container with Number: PONU/825914/3 before it was intercepted along Mile 2 Apapa road, Lagos.

The truck was immediately taken to the premises of FOU Zone A, Ikeja where physical examination revealed 49 boxes containing a total number of 661 pieces of pump action rifles concealed with steel doors and other merchandize goods.

While handing over the 661 pump action rifles and the two suspects (Mr. Oscar Okafor (importer) and Mr. Mahmud Hassan (clearing agent) to the Director-General, DSS, Mr. Lawal Daura represented

by the Director, DSS, Lagos State Command, Ms Betty Adoki, Deputy Comptroller General of Customs in charge of Enforcement, Inspection and Investigation, DCG Dan Ugo on behalf of the Comptroller General of Customs, Col. Hameed Ibrahim Ali (rtd), called on all well meaning Nigerians to support the service with necessary information that could assist the Service perform their statutory responsibilities better. According to him, “The interception of these arms is a clear indication of how committed and dedicated the Service is to the economy, security and wellbeing of the country. The three suspects who were arrested in connection with this illegal importation are: Okafor age 51, Mr. Hassan age 56 and Mr. Sadique Mustapha (accompanying the consignment to its destination) age 28.”

Hameed Ali had during a press conference to announce the seizure stated that the arms were cleared at the Apapa Port with the aid of two customs officers who are now being

investigated.

While decrying the harm hard drugs and arms has inflicted on Nigerians over the years, he said: “These rifles are under absolute prohibition therefore its importation is illegal. Such deadly contravention of the law is even more unacceptable considering the fragile security situation in some part of the country. Already, three suspects have been arrested in connection with this illegal importation.

Investigation has already commenced and I have directed that the dragnet should be wide enough to fish out all persons involved in the importation and clearing of the consignment. The customs officers involved in the clearance of this container are with the Comptroller FOU Zone A, Ikeja.”

The seizure, he added, underscores the determination of the service to enforce all laws relating to importation and exportation of goods into and out of Nigeria thereby contributing to the economy, security and wellbeing of the country.

BOI Targets Women Empowerment for Sustainable Economic Growth Crusoe Osagie The Bank of Industry (BOI) has announced plans to equip women with requisite skills and knowledge aimed at driving entrepreneurship growth in women. The bank noted that this move seeks to empower women entrepreneurs to achieve sustainable economic growth in the country.

The acting Managing Director, BOI, Mr. Waheed Olagunju, explained that according to the World Bank, Nigerian women account for about 42 per cent of the total labour force in the country, but stressed that this number has reduced gradually from the peak of 43 per cent in 2004.

He emphasised on the need to promote women’s access to gainful employment, saying that this can unleash a strong force for innovation, productivity and economic growth in the country.

Olagunju pointed out the need to encourage more women entrepreneurs in

Nigeria to create wealth and job opportunities for the nation’s teeming unemployed youths, saying that the development finance institution (DFI) is one of the very few banks with a dedicated gender desk that supports women all across their various stages of business activities.

Olagunju who was represented by the Executive Director, Financial Inclusion, Micro Enterprise Directorate, BOI, Mrs. Toyin Adeniji, to join the rest of the world to celebrate international women’s day, said, “We are using today’s celebration to encourage other women starting as small entrepreneurs, Micro Small and Medium Enterprises ( MSMEs) and those that have grown very big to bring all of them together to share ideas amongst ourselves. Women have to be bold, they must have their dream and the Bank of Industry ( BOI) is ready to support them.”

He said the theme of this

year’s event tagged “Be bold for change” is gathering women notable women who have dared to succeed despite challenges in the Nigerian economy to share experiences in their various journeys to success in the hope to empower women with tips required to take the bold step in their business aspirations. ”Today is globally recognised as international women’s day which is celebrated all over the world. It is also to recognise the role that women have played in empowerment of nations all across the world. We want to recognise our friends, partners and women that have made marks in different sectors. We have a dedicated gender desk that helps women all across their various stages of their business. We are here to hold their hands and we are also here to help them think of their businesses as they go along.

We are here to let them know that there is access to finance, markets, trainings and growth opportunities,” he said.

Nigerite Harps on Effective Safety Management for Business Sustainability Crusoe Osagie Nigerite Limited has emphasised on the need for businesses to adopt an effective safety management model to achieve profitability, noting that safety management helps businesses to reduce cost and saves financial resources that would have gone into unnecessary and preventable expenses.

The Quality, Safety Health and Environment Manager, Nigerite Plc, Mr. John Bamigboye, at a press briefing to unveil its latest initiative targeted towards ensuring a safe workplace, ‘safe start’, maintaining that the company is aiming to

achieve a zero tolerance for accidents, cost reduction and profit maximisation.

According to him, any business that is safety conscious, saves a lot of money, pointing out that two years ago, the company invested billions in safety to boost our operations while stressing that doing things in a safe way is key for businesses to stand the test of time especially in a business environment like Nigeria “We have put so many things in place to make our workers and machines safe.

What we have been doing in recent time is to carry out a risk assessment to make our

old machines to comply with the new norms. We have done quite a lot in safety management, but the challenge still remains the behavior to safety. We can put all the safety mechanisms in place, but the behavior of the end users is a problem.”

In his words, “Safe start has to do with behavioural based safety approach. It has to do with the state of minds. We have developed the theory behind reducing errors at workplace. Safe start is about reducing errors that can lead to injuries. There are so many benefits to be derived from the safe start model such as cost reduction.

Marie-Therese Phido

Female Executives, Let’s Up the Ante - Part 2 In continuation of the article, I will like to quote from Sheryl Sanberg’s book “Lean in” and reflect on the term “queen bee”.

She said, queen bee is used to describe a woman who flourishes in a leadership role, especially in male dominated industries (or organizations), and who uses her position to keep other female “worker bees” down. She went on to say that for some, it was simply self-preservation, for others, it reflected their coming of age in a society that believed men were separate to women. Queen bees internalized the low status of women in order to feel worthy themselves. Often these queen bees were rewarded for maintaining the status quo and not promoting other women.

Do you know queen bees in your organizations or professional circles?

I have known men who have expressed, extreme amazement at the damage queen bees cause other women. They consistently make comments about the actions of these women who will do anything to keep other women from Last week coincidentally, the Part 1 of this article was published on the International Women’s Day. It was not planned but, I was happy for the coincidence as it was in consonance with the theme for this year: Be Bold for Change. This year, we need to be bold for change and enhance the professional well-being of women in the workplace. progressing.

Queen bees feel threatened when another woman is rising and will do anything to put her down, especially when they have been the only senior woman in top management.

Personally, I have come across such women and I am imploring any woman with the character traits above to start embracing women and championing their sisters’ cause.

Many women have challenges in the workplace because of the myriad of roles they play. How can we help our career women, raise the ante, succeed and thrive, below are some suggestions:

˾

Be your sister’s keeper – senior women and professionals in the work place, need to support one another’s growth, while working together. Let’s learn to reach out to other women up the ladder and down the ladder. Last week, a colleague of mine now based in the UK in a senior role and working in a professional services firm sent me a mail on how she found healing from part one of this article. She went on to describe the challenges she was going through and said she felt comforted knowing that she is not the only one that has gone through and is going through such challenges.

Her mail made me cry, because I could feel her pain as I have been there too.

My advice to her was to not let anybody stop her greatness or pull her back from her purpose and to keep the flag flying for herself and other women. What particularly warmed my heart was her reference to being a junior consultant when we worked together in the same firm, and the fact that my door was always open when she had challenges. Sisters, let’s look out for one another.

˾ Competence and knowledge – As I

stated in Part 1 of this article, there is no substitute for competence and knowledge.

These get you through the door and most times keeps you there. A senior colleague of mine who read last week’s article said, “without competence, you can’t even start the conversation”. We need to continually hone our skills and reinvent ourselves to ensure that our relevance is indisputable. I tell people to be incomparable. If you leave a job and can be easily replaced, you were not making a mark nor impactful. It should be difficult to replace you.

˾

Be accomplished, don’t diminish your worth – Many women cannot market themselves nor their accomplishments.

We have been culturally attuned to mute our accomplishments or hide behind men.

If we hoot our horns, we are seen to be bragging or not liked.

The attitude to adopt is, you are damned either way, especially if you are excelling, so own your accomplishments. I strongly advice that you have confidence in your abilities and ensure your accomplishments are extremely valuable to the business and can help set you apart as a leader.

˾ Banish fear – fear of failure should not

hold you back. Personally, I never believe there is anything I cannot do and there is nothing I cannot ask for. The worst thing I will get is a no. Or then again, I may succeed. Many times, we succeed and even if on the off chance we fail, we try again. According to Passi, “you need to have massive failure, to have massive success”.

˾

Network – Build a network of supporters. Have a sponsor and a mentor.

A mentor to advise you on upping your game and competence. A sponsor who believes in you and will position you and brag about your capabilities and value in meetings you are not privileged to attend. Many women also need to network. We have all developed a routine of – office, home and office. We need to network, be active members of professional associations and network with the “boys”.

˾

Develop your personal brand – A strong personal brand benefits the organization and positions you as a thought leader, an expert in the business environment. This will increase your cache in your organization and provide you with job security outside the organization.

˾

Be more savvy in your leadership style – Many women are stereotyped in the office because of the way we react to issues or provocation. We need to project strong leadership traits, while still retaining our feminine characteristics. Being able to marry the two, will put us ahead of the pack. This can be challenging and requires some practice and mentoring to accomplish.

I am still working on this requirement.

Finally, I’d like to end by reiterating that we need to work together to succeed. One cannot do it alone but the whole. Let’s be our sister’s keepers. This message is to both men and women. .- 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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EQUITIES WATCH

GTBank Maintains Robust Dividend Payout With a final dividend of N51.5 billion proposed by Guaranty Trust Bank for 2016, its shareholders are set to enjoy another bounteous harvest writes Goddy Egene and non-interest appears to suggest the latter was particularly weak in the quarter at just N3.6 billion.

“However, in the same vein the funding income result of N62.7 billion looks unusually high. As such, we believe some accounting adjustments may have contributed to the rather unusual results on both lines. The sequential movements look worse because of the large fx-revaluation gains, which propped up Q3 (and Q2) 2016 results were absent in these Q4 results,” they said.

“I don’t see any reason in changing our dividend payout ratio for as long as you have enough capital and (our) capital adequacy today is over 18 per cent. So long as capital adequacy remains that high, we are going to keep at that dividend payout ratio,” these were the words of the Managing Director/Chief Executive Officer, Guaranty Trust Bank (GTBank) Plc, Mr. Segun Agbaje while speaking last year on what investors should expect at the end of 2016.

GTBank is one of the favourite stocks of investors whose aim is regular dividends. Before now, GTBank was known for both bonus and dividend payment. However, given the high number of outstanding shares of GTBank, its bonus issuance has reduced, while focusing mainly on dividend.

The bank pays dividend twice every year, and despite the economic headwinds in 2016, GTBank maintained its robust dividend payment. The bank will pay a total dividend of 200 kobo per share or N58.862 billion. While an interim dividend of 25 kobo or N7.357 billion had already been paid as interim dividend, a final dividend of 175 kobo or N51.504 billion was recommended by the directors for the approval of shareholders at the next annual general meeting (AGM). The final dividend was recommended after the bank released its audited results for the year ended December 31, 2016.

2016 Financial Performance The bank reported gross earnings of N414.62 billion for 2016, showing an increase of 37 per cent from N301.85 billion in 2015. The gross earnings were driven primarily by growth in interest income as well as foreign exchange income.

Interest income rose by 14.5 per cent to N262.5 billion, from N229.2 billion, while net interest income stood at N195.4 billion in 2016, up from N159.9 billion, showing an increase of 22.2 per cent. Investment and other operating income jumped by 109 per cent from N72.61 billion, to N152.1 billion. Operating expenses rose by 17.9 per cent to N113.6 billion, from N96.4 billion. Profit before tax stood at N165.14billion, representing a growth of 37 per cent over N120.69billion recorded in 2015, while profit after tax rose from N99.436 billion in 2015 to N132 billion.

A further analysis of the performance showed that GTBank’s loan book grew by 16 per cent from N1.373trillion in 2015 to N1.590 trillion in 2016, just as total deposits grew by 29 per cent to N2.111trillion from N1.637trillion in 2015. Loans to deposits ratio reduced from 83.9 per cent to 73.3 per cent in 2016.Net margin stood at 31.9 per cent compared with 32.9 per cent in 2015.

In all, total assets and contingents stood at N3.70 trillion and shareholders’ funds of N504.9 billion. GTBank’s non-performing loans remained low and within regulatory threshold at 3.66 per cent with adequate coverage of 131.79 per cent.

Capital remains strong with capital adequacy ratio (CAR) of 19.79 per cent, while return on equity (ROAE) and return on assets (ROAA) closed at 35.96 per cent and 5.85 per cent respectively.

Bank Explains Performance Commenting on the results, Agbaje, said: “The Bank’s financial performance in 2016, does not only reflect the resilience of our franchise, it demonstrates the fundamental strength of our businesses to deliver sustainable long-term growth. We successfully navigated the heightened economic uncertainty and regulatory headwinds which dominated the year to deliver a solid performance across all financial and non-financial indices.”

He added: “We are transforming our organisation into a platform for enriching lives by positioning ourselves at the centre of an extended ecosystem that offers our stakeholders, benefits beyond banking. We also remain committed to maximising shareholders’ value and delivering superior and sustainable return, guided by our founding values of hard work, discipline and

Agbaje

integrity.”

Analysts’ Comments on Q4 Looking at the result for the fourth quarter (Q4), analysts at FBN Quest said broadly speaking the results were in line with consensus expectations on the PBT line.

“However, the PAT appears soft due to a negative surprise on the tax line. Compared with the Q4 PBT of N24.3 billion which declined 15 per cent, the PAT of N12.7 billion fell 44 per cent because the tax charge grew by 174

per cent to N11.9 billion.. The implied tax rate was 49.2 per cent. The decline in the PBT was driven by a combination of a 111 per cent increase in loan loss provisions to N8.2 billion (this was expected, however) as well as a 50 per cent increase in operating expenses to N33.7 billion. The growth on both lines more than offset a healthy growth of 20 per cent in profit before provisions to N66.2 billion,” they said.

According to the analysts, the breakdown of revenue contributions into funding income

GTBank 2016 FINANCIAL SUMMARY

500 450

DEC.2016 N414.6Bn

400 350

DEC. 2015 N301.9Bn

300 250

DEC.2016 N195.4Bn DEC. 2015 N159.9Bn

200 150

DEC.2016 N65.3Bn

100 50 10

DEC.2016 N165.1Bn

GROSS EARNINGS

NET INTEREST INCOME

DEC.2016 DEC. 2015 N132.3Bn N120.7Bn DEC. 2015 N99.4Bn

DEC. 2015 N12.4Bn

CREDIT IMPAIRMENT

PROFIT BEFORE TAX

PROFIT AFTER TAX

Awards Galore GTBank in February reaffirmed its position as a leading global brand with its recent recognition as the ‘Best Private Banking Services, Best Commercial Banking Capabilities & Best Net-worth Specific Services in Africa’ during the Euromoney Private Banking Awards in London, United Kingdom (UK).

The awards, the 14th in the series, have the Euromoney Private Banking and Wealth Management Survey as the industry’s leading barometer for product innovation and service delivery to private banking clients. The survey covers 15 different products and client categories on global and regional bases, and has ranking results in 70 countries.

According to Helen Avery, Private Banking Editor, “this year, close to 700 institutions took part in the survey, 2,951 valid responses were received, representing a 12.8 per cent increase from last year figures. GTBank’s recognition in three categories was a testament to the thorough work the bank was doing to deliver the utmost in banking services to its private banking clients. It is hard enough to win in just one category, but to emerge victorious in three, clearly showcased the strength and efficiency of its value proposition to this particular segment of its customer base.”

Receiving the award on behalf of the bank, Agbaje, said: “We are honoured to receive such international recognition for our private banking services. Winning this award is an acknowledgement of the hard work and dedication of our staff, management and Board to developing and delivering private banking services to the highest standards.

It also represents our commitment to serve High Net Worth clients in an innovative way, with products and services tailored to their specific needs.”

In similar vein, GTBank emerged as a multiple award winner during the 2017 Electronic Payment Incentive Scheme (EPIS) awards organised by the Central Bank of Nigeria (CBN) and the Nigeria Inter-bank Settlement System (NIBSS) recently.

With six awards, the bank had the highest number of the total awards presented to the financial institutions, Fin-techs, merchants and other stakeholders in the EPIS. The EPIS Efficiency awards was established to reward and celebrate financial institutions, merchants and other stakeholders at the forefront of driving electronic payment in Nigeria. Among the awards won by GTBank included: Best Customer Experience Award (Electronic Payment Platform Experience); for achieving the highest level of overall customer satisfaction in the delivery of electronic payment services to customers; Instant Payments; for the bank’s outstanding performance in recording the highest transaction count on the NIBSS Instant Payments (NIP) platform; Point of Sale (POS) Issued Cards’ Transactions for having the highest POS transaction count on the National Central Switch with Issued Payment.

According to Agbaje, “We are incredibly excited to receive such outstanding honours from the apex regulators in the banking sector.

Receiving these awards is indeed humbling and we are encouraged to continue to do more. As a bank, we will continue to focus on digitising our services and creating a well segmented and integrated customer experience.”

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Journey Towards Financial System Strategy 2020 Obinna Chima, James Emejo and Nume Ekeghe highlight efforts targeted at achieving Nigeria’s Financial System Strategy 2020 Globally, the relationship between the financial system and development remains very critical for any economy to realise its potential. Financial system development depends largely on the flow of funds from the banking system.

Patrick Honohan of the Trinity College, Dublin, in a paper titled: “FSS 2020: Finance and Growth – Can the Engine Work for Nigeria?” pointed out that the financial sector helps growth and lowers poverty. He stressed that Nigeria (as other African financial systems) has much to gain from energetic financial policy development combining modernism.

Financial development is clearly an important cause of growth and financial sector development can be a powerful agent for growth and transformation.

That was one of the reasons why the Central Bank of Nigeria (CBN) developed the Financial System Strategy 2020 (FSS: 2020).

Speaking in Sokoto at a recent seminar for financial journalists, central bank officials highlighted efforts by the country to achieve its FSS: 2020 targets.

The CBN had in August 2009, launched the Financial System Strategy 2020. The FSS 2020 is aimed at strengthening and deepening the domestic financial market, enhancing the integration of the domestic financial markets with the external financial market, supporting the real sector and promoting sustainable economic development.

Based on the recognition of the linkage between financial deepening/growth and economic developments, the vision of the FSS 2020 is to make the Nigerian financial sector the fastest growing financial system among the emerging economies while the mission is to drive rapid and sustainable economic growth primarily in Nigeria and Africa.

From the on-set, the FSS 2020, which forms an integral part of the national vision was designed and developed with strategic objectives that will enable the Nigerian economy become one of the world safest and fastest growing economies by the year 2020.

The CBN has constantly evolved appropriate regulations to achieve its objective. Some of these include policies such as the three-tiered Know Your Customer, gradual phasing out of the commission on turnover (COT), cashless Nigeria, which kicked off yesterday, revised bank charges, creation of a secondary market for the mortgage sector through the Mortgage Refinancing Company amongst others.

By the end of 2012, the FSS 2020 was reviewed and refined to strategically make use of the various structures within the financial sector to achieve its goals. Its focus was redirected at the pension, mortgage, and insurance industries as well as medium, small and micro enterprises (MSME), the financial market and the entire populace.

Journey so far Speaking at the conference in Sokoto, the Director, Financial System Stability, CBN, Mr. Mohammed Suleiman, said the whole idea about the strategy started following a prediction by Goldman Sachs in 2013 where they discovered that by 2025, Nigeria would be among the next 11 nations that would be leading the global growth.

“That study led to the prompting of the Nigerian government to come up with the nation’s vision 20:2020 and of course the financial system cannot be left behind. So the central bank in collaboration with other key financial sectors and regulators and international consultants, put together a strategy that would make Nigeria realise that dream of becoming on the top 20 economies by the year 2020.

“The CBN has some stakeholders to aid this vision. These are the Ministry of Finance, National Assembly, Securities and Exchange Commission (SEC), Nigeria Deposit Insurance Corporation (NDIC), National Insurance Corporation of Nigeria (NAICOM), National Pension Commission of Nigeria (PenCom), etc. But the key implementing institutions in strategy are CBN, SEC, NAICOM,

CBN building

Emefiele

PENCOM, Debt Management Office (DMO), Nigerian Stock Exchange, SMEDAN, Federal Mortgage Bank, FIRS and FRC.” Suleiman further noted that the FSS: 2020 was based on the need to fully integrate the nation with the global economy “The principal reason for FSS: 2020 is the need to sustain macroeconomic stability in the system, the need to deepen the banking and financial system; evolving appropriate regulations

and laws, encourage transparency; enhancing corporate governance regime across the financial system and then need to encourage made in Nigeria goods and promote diversification in our economy.

“We have the aspiration to be the safest and the most reliable financial system amongst emerging nations. That we would do by strengthening the domestic financial market and then enhance the integration with the international financial

system and then build an international financial center,” he added.

The CBN also solicited the support of stakeholders for the success of the scheme.

The CBN further explained that the scheme was conceived to encourage transparency and promote other avenues for funding government’s expenditure by addressing shortage of qualified and experienced manpower as well as enhancing corporate government regime.

Suleiman noted that for the CBN FSS 2020 to be achieved, provision of infrastructure by the government and building of capacity to abridge skill gaps and competence remained paramount. According to him, creation of strong legal and regulatory framework to drive the economy will ease the conduct of doing business in the country.

On his part, the Deputy Director/Head Strategy Management Group of the FSS: 2020, Mr. Oluwatoyin Jokosenumi, expressed optimism that if fully implemented, the FSS2020 would strengthen the Nigerian economy and develop the payment system. He said the scheme has aided the electronic payment system, e-dividend in the stock exchange, mortgage asset registry linkage, and the Nigerian Mortgage Refinancing Company initiatives.

It also brought about the introduction of market making and creation of capital market data bank, development of risk based capital adequacy framework for the market, deepened the domestic bond market through the foreign and Naira denominated bonds, he added.

Jokosenumi added that the FSS: 2020 has initiated the legal and regulatory framework through the crafting and drafting of bills that were passed by the seventh National Assembly, though yet to get the assent of the president.

Also speaking at the event, Head Financial Markets, FSS 2020 Secretariat CBN, Dr. Charles Ohamara, said the concept of FSS 2020 was geared towards ensuring that all big companies currently operating in Nigeria, which are not quoted on the Nigeria Stock Exchange (NSE), were encourage to list in the market to ensure that shareholders benefit from them.

“When we talk of financial markets, we have money and capital market. But we also have the commodity market. The commodity market Continued on page 28

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ANALYSIS

JOURNEY TOWARDS FINANCIAL SYSTEM STRATEGY 2020

President Buhari

is a distinct market I would say. When we talk about that market, we are talking about were transaction for demand and supply takes place.

“For the commodities market, we would need a number of institutions and organisations participate so that they can be able to trade in agricultural and all things that come from that sector. So FSS2020 objective in this area has yielded a lot to the finance sector.

“Also, the overall idea is that you have large companies such as the MTNs and other organisations in telecommunication making huge sums of money in Nigeria to put it on the Nigerian stock exchange. This is another area we are looking to put it the NSE so that individuals and Nigerians can become shareholders of such companies,” he added.

Similarly, the Head MSME Sector, FSS: 2020, Mr. Mudashiru Mustapha, said his department initiated B2CM, which is an initiative of the FSS:2020 aimed at facilitating the growth of SMEs. “The focus in on bringing similar businesses with identifiable value chain together so that the CBN and other relevant stakeholders would be able to support them as a group. When you have a large number in a cluster to enjoy benefits and it would be easier to disburse funds.”

On challenges affecting the strategy, he said: “Poor and unreliable infrastructure, healthy regulatory body, looming international competition and absence of coherent policy, there is need to unlock capital so that we can drive this sector.

“We need to move businesses from the informal sector to the formal sector so these businesses can access intervention funds from the central bank. In addressing issues around MSME, what we are doing directly is to improve financial inclusion and bringing people on board to be educated to be able to compete internal and externally.

“We would achieve this by promoting investment cluster, financial collateral registry and promote standard and synergy in governance.

It would be difficult for any country to excel without a thriving MSME sector. The future of MSME in Nigeria is critical to the development of our economy so we must all support this sector,” Mustapha said.

Minister of Finance, Kemi Adeosun

Home Ownership While speaking on the objective of the FSS 2020 for the housing sector, the Head, Mortgage Sector FSS: 2020 Mr. Patrick Aririyuso, said the vision under the scheme is for the country to have the safest home ownership rate and most profitable mortgage market among emerging markets.

He said the target is to use the mortgage market as a major agent of positive social and economic change by making finance available and affordable to all class of Nigerians.

Objectives of the FSS2020 in this space, according to him, is to establish a secondary mortgage market, to attract affordable international credit to fund affordable housing programs and

The principal reason for FSS: 2020 is the need to sustain macroeconomic stability in the system, the need to deepen the banking and financial system; evolving appropriate regulations and laws, encourage transparency; enhancing corporate governance regime across the financial system and then need to encourage made in Nigeria goods and promote diversification in our economy

to advocate moderate rate for affordable and mortgage housing.

“FSS: 2020 having realised has decided to focus on long term financing products and access to funds, advocacy with state government who we have been having issues with lands.

Mortgage market is the least developed in our financial sector for many reasons which may include leadership, poor capital base, and weak corporate governance, lack of reliable data within the industry and low level of IT deployment,” he added.

Some of the threats to the sector include the non-passage of mortgage finance related bills, lack of land reforms, lack of synergy among financial regulatory forms and lack of long term fund.

Having discussed the challenges and threats, he highlighted the interventions the mortgage department wants to pursue.

“We have some mortgage laws that we have proposed and one of them is mortgage institutions and by the time this bill is fully accomplished it would allow us play as an operator in the secondary market. This bill is designed to make CBN play an effective role as a regulator of primary mortgage banks. We need this bill like yesterday.

“The Nigerian mortgage financing company is functioning now. Secondly, the recapitalisation of primary mortgage banks has been effectively addressed by CBN, Primary Mortgage Banks are now categorised into national and state with different capitalisation. This has put some sense of disciple in the mortgage sector. And also the Nigerian housing programme the central just introduced. These are some of the successes,” he explained.

Transforming Insurance Sector Similarly, the Head, Insurance Sector FSS 2020, CBN, Christian Muo regretted that insurance contribution to GDP was still abysmally low, saying there was an urgent need for transforming the sector.

Consequently, he disclosed that the apex was working to ensure that the sector become the 15 largest insurance sector of the world in premium

generation by 2020. ” With FSS 2020 insurance business will change”, he assured.

Proffering solution on how to revamp the sector Muo stated that there was need first and foremost to grant autonomy to the sectors regulatory body, the NAICOM adding that NAICOM should be empowered such that it can implement and enforce compliance of various existing insurance laws.

Government he said, should live up its expectation by ensuring that its properties/buildings are all insured even as he advocated need for recapitalization of insurance firms.

Speaking on the success story of the FSS 2020, Muo assured that implementation of the project has guaranteed reduction in insurance gap to 40 per cent in 2016 from 94 per cent in 2007.

“Since 2008 till now, which is about 8 years, we are now told that we have bridged that gap to about 40 percent. That is encouraging because there has been a lot of reforms that are taking place and these are the effects of the FSS 2020. We will keep pressuring NAICOM and telling them this is what to do to get it right,” Muo added.

He explained further: “Nigerians insurance market is not as advanced as India, China and other developed countries and ours is stagnant because we lack some basic things namely - diversity, trust and safety. People see insurance in Nigeria as another window for fraud. They believe when it is time for a claim the insurance companies would ask for too any documentations and so this causes lack of trust.

“In advanced economies, when you talk about insurance, you are talking about a segment of the economy that contributes very highly to the GDP. FSS: 2020 indeed is collaborating with the regulatory institution to sensitise the public and government to key into the insurance scheme to take is as a serious business.

“Our desire is to be the fifteenth in the hierarchy among all the insurance advance countries in the world by 2020. To do that, three things are very vital. Firstly capacity that is ensuring that the sector is financially strong. Secondly, creating and efficient profitable market and create consumer trust in this sector.”

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BUSINESSWORLD

PERSPECTIVE

Gwarzo: The Champion of Investor Protection Paul K. Adegboyega believes that the robust disciplinary measures and investorfriendly initiatives being implemented by the Securities and Exchange Commission are strong incentives to woo investors back to the market The strict regulatory approach and reforms introduced by the Mounir Gwarzo-led management of the Nigeria Securities and Exchange Commission (SEC) are helping to instill a new culture of discipline in the capital market. Despite the general negative economic outlook owing to the fall in oil prices, foreign exchange challenges and the recession, SEC’s strong regulatory oversight, zero tolerance for market infractions are playing a major role in keeping things from going south, while the government implements measures to pull the economy out of recession.

The bold actions taken so far by SEC are designed to send specific messages to specific categories of market players. To dubious stock brokers and other participants, the message is that it is no longer business as usual. To investors – local and foreign – the message is that there is a new sheriff in town and their interest and investments will be fully protected. From all indications, the message is sinking in.

SEC’s interventions fall into two broad categories. One, those meant to instill discipline and ensure that operators play according to the rules of the market. Two, those designed to address institutional gaps and systemic issues that are of concern to existing investors and discourage potential investors from participating in the capital market.

With regard to stopping sharp practices in the capital market by dubious players, SEC has within the past 18 months displayed an uncommon willingness to wield the big stick against erring operators.

The suspension and subsequent ban of Albert Okumagba, the owner of BGL Group is perhaps the strongest statement so far. The high profile, influential celebrity broker, once considered untouchable was expelled along with his company BGL from the capital market after investigations established complicity in an N28.9bn fraud case of mishandling investor funds.

Also, SEC came down hard on another stock broking firm, WT Securities Limited for mismanaging investors’ stock and selling the shares of Nigerian Breweries Plc and and Ngozi Onyekwere Nwachukwu without their consent. As punishment, the Directors of the company, Mr. Taofik Lawal and Mrs. Iyabode Lawal were banned for life and blacklisted from operating or participating in the stock market.

Heritage Capital Markets Limited, a stockbroker and dealer also got the suspension hammer for alleged fraudulent sale of investor’s shares. SEC also suspended the directors and sponsored individuals of the company, including two former presidents of Institute of Chartered Accountants of Nigeria (ICAN), Mr. Chidi Ajaegbu and Mrs. Ibironke Osiyemi.

Analysts estimate that about 10 stockbrokers have been suspended from the capital market since SEC turned the heat on. To say the obvious, the gale of suspensions and bans are positive signals that impunity will no longer be allowed to sabotage the realization of a strong capital market. The actions also provide much needed relief for traumatized investors who suffered losses due to lax regulations and dishonest operators. They also constitute strong signals to unscrupulous operators that things have changed and that they must conduct their business within the scope of the law or face the law.

However, because the law that set up SEC only empowers it to handle civil matters, the commission has gone into active collaboration with the Economic and Financial Crimes Commission (EFCC) to ensure full criminal prosecution of offenders. According to the Director General, Mounir Gwarzo, the collaboration is “a major game changer” in SCC’s enforcement drive.

As he put it, “this will send a very

Gwarz0

strong signal to any capital market operator that will commit an offence in the capital market that has a criminal element. The law limits SEC to only civil cases whereas about 99 percent of cases in the capital market have some criminal elements. The best we normally do after our investigation

With regard to stopping sharp practices in the capital market by dubious players, SEC has within the past 18 months displayed an uncommon willingness to wield the big stick against erring operators

is to ban or suspend the operator as an individual, or suspend or revoke the license of the operator as a company. This collaboration will help to fix this gap”.

Under the partnership, SEC aims to work closely with the EFCC to ensure that criminal cases perpetrated by dubious market operators are judiciously and thoroughly prosecuted. The arrangement involves the set-up of desks at EFCC and SEC offices that are dedicated to handling capital market issues and complaints by investors in a timely and responsive manner.

Considering the culture of impunity, which held sway for a long time and the urgent need to discourage it, this partnership with EFCC is a good step in the right direction. It will no doubt help to complement the administrative actions of SEC against errant capital market operators by ensuring that they face the deserved sanctions for their crimes.

These punitive measures are very important given the well-established impunity that led to the crash of the capital market in 2008. Re-building lost confidence is therefore critical to the growth of the capital market. Market players and po-

tential investors need to know that people who take liberties with the rules and cause so much loss to innocent investors will be punished when they go against the law.

They need to know that there is a strong, reliable system in place that will not hesitate to apply the full force of the law against anyone, no matter how highly placed or connected, who goes against the rules.

To complement the disciplinary actions, SEC has also moved to address institutional gaps and systemic issues that are of concern to investors. These initiatives are part of a series of strategic actions outlined for implementation in the ten year Capital Market Master Plan designed to re-position the capital market. The Master plan is the blueprint for the far-reaching reforms being implemented by the Gwarzo-led management.

So far SEC has implemented a select suite of these actions to address specific pressing systemic issues that pose significant challenges to existing and potential investors. Some of these measures include the e-dividend platform, direct cash settlement and recapitalisation of capital market operators. Others are dematerialisation, corporate governance scorecard and operationalising our National Investor Protection Fund.

The e-dividend platform for instance is helping to fix the problem of unclaimed dividends which has persisted for twenty years. The platform offers a convenient and secure online means of paying dividends directly to the shareholder’s account instead of printing and mailing dividend warrants.

With de-materialisation, physical share certificates obtained through public offers are converted after verification by the listed companies Registrar’s into an electronic record kept by the Central Securities Clearing System Limited (CSCS). This is boosting convenience as well as ease of transactions for investors in the process making the capital market more investor friendly.

The common practice of stock brokers short-changing retail investors by selling the investors’ shares and keeping the proceeds for long periods is also being checked

by SEC’s introduction of the direct cash settlement system. With this measure, the proceeds from trades executed by brokers on the Exchange are paid directly into investors’ bank account.

Another important measure, the N5bn National Investor Protection Fund is designed to compensate investors who lose money as a result of the revocation or cancellation by SEC of the registration of a dealing member firm with whom they were involved. The Fund will also provide compensation to investors affected by the insolvency, bankruptcy or negligence of a dealing member firm of the Exchange.

It will also handle issues of defalcation (misappropriation of funds) “committed by a dealing member firm or any of its directors, officers, employees or representatives in relation to securities, money or any property entrusted to, or received or deemed received by the dealing member firm in the course of its business as a dealing member firm”.

Overall, focused regulation and investorfriendly initiatives by SEC are strengthening the capital market and providing a strong platform for more robust and sustainable investor participation in spite of the challenges of a recession hit economy. The positive impacts of these measures are likely to increase as the economy moves gradually into a post-recession phase by end-2107 as projected. Worldwide, the capital market is a reflection of the health of a country’s economy and a critical source of finance for national and economic development. While there is still a lot more work to be done, what is happening there gives hope that recovery is on the way. t"EFHCPZFHB JT B QVCMJD QPMJDZ BOBMZTU

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EDUCATION LASPOTECH Best Student: My Girlfriend Challenged Me Academically With a Cumulative Grade Point Average of 3.9 out of 4.0, Mr. Abdulazeez Adedolapo Ejire of the School of Pure and Applied Science, who emerged the best graduating student of the Lagos State Polytechnic during its 25th convocation ceremony, recently told Funmi Ogundare that his girlfriend inspired and challenged him academically It was celebration all the way during the recent 25th convocation ceremony of Lagos State Polytechnic (LASPOTECH), as it graduated a total of 9,228 students across all its schools, including Mr. Abdulazeez Adedolapo Ejire, 23, of the School of Pure and Applied Science, who emerged the best graduating student with a Cumulative Grade Point Average (CGPA) of 3.9 out of 4.0 in the 2015/2016 academic session.

The ceremony tagged ‘LASPOTECH Aloft @ 40’, saw Ejire, who was among the 273 graduands with distinction, receiving the academic board and school prizes, rector’s award cash prize, as well as the prize for the best graduating student in the Higher National Diploma (HND) programme.

He was also offered instant employment with the state government by Governor Akinwunmi Ambode.

Ejire expressed excitement about his success, which he attributed to God, saying, “I am so imperfect but strong. In the last five years, I was trained to be able to endure pains, challenges and L-R: The mother of the best graduating student, Mrs. Oluwakemi Ejire; the best graduating student, Mr. Adedolapo Abdulazeez Ejire; Lagos State Governor, harsh conditions. I love taking up challenges. I Akinwunmi Ambode; Ejire’s relative, Mr. Azeez Olawale; and the Chairman, Governing Council, LASPOTECH, Prof. Tajudeen Gbadamosi, during the 25th convocatook up the challenge and God saw me through.â€? tion ceremony of the institution‌ recently kolawole alli When asked if he has a girlfriend he said: “In fact we graduated together and she is also her tive. “Government will do everything within its for the sake of acquiring a certificate to providing nation revolves. department’s best graduating student. So I guess power to promote and fund the drone project to knowledge which will empower our youths to The Rector, Mr. Samuel Sogunro commended that shows that she was one of my academic encourage the polytechnic for the achievement.â€? become champions of their generation; to chart Ambode for his passion and commitment to He also approved the construction of new main their own course and establish enterprises that the development of education. He said apart challengers.â€?

On campus social life he said, “being the Student auditorium, administrative block, renovation of will create jobs and generate wealth for all. from being the first governor to participate in “Education is high on the priority list of this the institution’s convocation ceremony in the Union Government (SUG) president during my the sports complex and general facelift of the session I guess that should make my social life facilities within the campus, as well as equip- administration; and a significant portion of the past 27 years, despite the economic realities in 100 per cent. I attended and participated in almost ping and furnishing of the newly built School state budget every year is allocated to education. the country, he approved an increment in the We recognise the fact that a citadel of learning is monthly subvention to the polytechnic from of Technology Building (Block A). all social functions in the school.� “It is worthy of note that LASPOTECH in its as good as the quality of its learning environment N153 million to N210 million.

On his future plans, he said after his youth service he hopes to go for his postgraduate diploma 40 years of existence had occupied a pride of in terms of infrastructure, academic and adminTo the graduands, he expressed the instituprogramme immediately aside the job offers from place among state-owned polytechnics in Nigeria. istrative faculties. Our government has invested tion’s excitement about their achievements, while the government. “I do love to learn, so I don’t Conscious efforts must be made to build on the massively in upgrading the infrastructure and encouraging them to continue to work hard and think I would stop without getting at least a successes achieved especially by becoming a true other learning tools in all our tertiary institutions, strive for academic, professional and personal PhD. I also want to get married early enough.� centre for excellence in technological education including this institution. excellence. “Your achievements now leave you “The ultimate goal of this investment in tertiary with a vital responsibility of being a change agent In his valedictory speech, Ejire advised other and research.�

The governor added that being an emerging institutions in Lagos State is beyond meeting the in our society. As you are all aware, the economy students not to waste their precious time saying, “how you spend your day is how you spend mega city, tertiary institutions and services in requirement for the accreditation of courses; it of our country and indeed most economies of your life, so make every minute count positively. the state must be of acceptable global standards is to ensure that tertiary education becomes a the world are private sector- driven, you are benchmark in Nigeria, ranking comparatively not expected to rely on government for jobs. and be agents of development.

As you lay your bed so you lie on it.� “Lagos State Polytechnic must rise to the with global institutions and producing the leadIn his remarks, Ambode expressed his admin“Think of what you can do for Nigeria and not istration’s readiness to deploy drone made by challenge of meeting the technical manpower ers of tomorrow,� Ambode said. He urged the what Nigeria can do for you. Put your know-how staff and students of the polytechnic to effectively requirement of the public and private sectors in graduating students to be good ambassadors into full use and set your creativity free and be of the polytechnic and the state, saying that ready to go and create jobs in the private sector, carry out aerial security surveillance across the not just Lagos, but in the country as a whole. “We must rise above just providing education they are the pivot upon which the hope of the using the spirit of ready-set-go.� state, while commending them for being innova-

FG Moves to Scrap Seven Depts at Michael Okpara Varsity Emmanuel Ugwu in Umuahia A total of seven departments at the Michael Okpara University of Agriculture, Umudike (MOUAU) have been slated for scrapping by the federal government thereby jeopardizing the future of thousands of Nigerian youths.

The affected departments which are all in the College of Management Sciences (COLMAS) are Accounting, Banking and Finance, Marketing, Economics, Entrepreneurial Studies, Business Administration and Industrial and Personnel Management. The anxiety over

the fate of students and staff of the affected programmes was ignited by a policy by the federal government which approved that the supervision of the three universities of agriculture in the country should revert to the Federal Ministry of Agriculture and Rural Development (FMARD). The supervisory role was hitherto exercised by the Federal Ministry of Education (FME) through the National Universities Commission (NUC).

In the exercise of its new found supervisory power the FMARD has directed the vice-chancellors of the affected universities of agriculture in the country to start scaling down all

existing non-agricultural courses and scaling up agricultural programmes and training.

In the letter dated August 15, 2016 signed by the Permanent Secretary, Federal Ministry of Agriculture and Natural Resources, Dr. Shehu Ahmed, the ministry reminded the vice-chancellors of the affected universities of the change.

They were informed that “the supervision powers of the three federal universities of agriculture and rural development are still domiciled with the Federal Ministry of Agriculture and Rural Development as provided in the Federal Universities of Agriculture Act CAP F22 CFN

2010.� Expectedly, the planned scrapping of the so called nonagricultural programmes has not gone down well with the MOUAU community as there is growing feeling that the federal government intended to narrow its only university in Abia to irrelevance. Speaking with journalists on the new development, the Dean, College of Management Sciences, Professor John Ihendinihu faulted the directive of winding down non-agricultural courses at the universities of agriculture and described it as a misinterpretation of the law. “We feel it is a misapplication of the decree setting up the universities of

agriculture. There is lack of understanding of the mandate of the university and how to drive it.�

He argued that if only core agricultural programmes were allowed to stand alone the original mandate of the universities would not be realised because it would transform the universities into trees without branches which could not produce foliage.

According to him, the law establishing the three federal universities of agriculture provided for allied courses which the so called non-agricultural programmes represent, adding that in the case of MOUAU, it is the business school that

popularised the agricultural programmes. The dean also pointed out that politics was being played in education in that Abia was being denied its fair share of federal entitlements as MOUAU is the only federal tertiary institution in the state.

He said narrowing the academic programmes in the university would deprive Abia youths of opportunities of admission in federal universities. “There is therefore an urgent need to avoid aggravating the problem created by this imbalance and allow non-agricultural programmes to co-exist with agricultural programmes in MOUAU.�

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EDUCATION

Bauchi Shuts Secondary School over Students’ Illegal Marriages Segun Awofadeji in Bauchi The Bauchi State Government has ordered the closure of the multi-billion naira ‘Sa’adu Zungur’ Model Primary and Secondary School, Bauchi following the report it received that some senior students (boys and girls) conduct illegal marriages among themselves within the school.

THISDAY gathered that male students used to pay N500 as dowry to their female counterparts as precondition for their marriages even as classmates of both the ‘grooms and brides’ contribute money to purchase snacks being consumed at the ceremonies.

It was revealed that although male and female students study in separate classrooms in the school,

the attention of the teachers was recently drawn to such illegal marriages when a senior secondary two (SS2) student (name withheld) organised an illegal wedding ceremony at a free classroom for himself and his lover, another senior student where the teachers heard cheers and noises that indicated a celebration.

This according to sources made the teachers to rush to the venue where the cheers emanated and discovered that a wedding ceremony was taking place between the two students.

It was gathered that the matter was then reported to the Principal, Mallam Ahmed Zailani, who also consulted the state ministry of education on the appropriate action to be taken against the erring

students, the development that led to the instant closure of the primary and secondary sections of the school.

Reacting to the matter in a statement issued by his Special Assistant on Communication,

Yakubu Adamu, the Deputy Governor and Commissioner for Education, Nuhu Gidado attributed the illegal marriages to the threats of moral decadence in the society. He said he had directed the immediate

closure of the school on March 10, 2017 after being notified about the issue.

He said a committee comprising all directors in the state ministry of education, the school authority, teachers,

as well as the Parent Teacher Association (PTA) had been constituted and tasked to investigate the matter and come up with a detailed and sincere report before the school would be re-opened.

FUGA VC Tasks African Leaders on Unity Seriki Adinoyi The Vice-Chancellor of the Federal University, Gashua (FUGA), Yobe State, Professor Andrew Haruna, has charged African leaders to continue to work together, nurture and support each other, and help grow the unique leadership virtues of Kwame Nkrumah, a pan Africanist whose main preoccupation was to improve Africa and Africans.

Haruna also pledged to do his best to leave indelible marks of an enduring legacy during his tenure as vice-chancellor of the university.

He made this known after receiving the 2016/2017 Kwame Nkrumah award as the ‘Outstanding Plenipotentiary Corporate Builder and Achiever in Africa’ from the All Africa Students Union (AASU) in Gashua recently.

The VC said the award was an indication that his modest contribution to the growth of the various sectors listed in his nomination did not go unnoticed. “It gives us the indication that we are on the right path; it will not only spur us to stay on the right path but to take deliberate steps that will put us in good stead to be counted as one of the leading lights in university education, not just in Nigeria, Africa but some day to become a real positive force to reckon with in the whole world.�

While promising not to rest on his oars, Haruna said he will continue to collaborate with the federal government under the leadership of President Muhammdu Buhari, the Minister of Education, Malam Adamu Adamu, the National Assembly, the governing council, management, staff and students, the host community and other development partners, as well as well-meaning organisations, individual and groups to bequeath a legacy worthy of

the dream of Africa’s founding fathers.

In his remarks, Ambassador Muhktar Khalifa from Senegal, who is the Assistant Secretary General of the union, said the members were in Nigeria to bestow honour on whom it was due. “It is on record that African students had played a very central role in the independence struggle of the 20th century and after securing political independence, they have remained consistent in the defence of democracy in Africa.

He said it was his pleasure to have Haruna emerge as the AASU 2016/2017 Kwame Nkrumah award recipient and sworn into the union’s hall of fame after scrutiny, due diligence ratification of nomination by the AASU congress.

Also, Omoba Michael from the Republic of Benin said the team of AASU executives was delighted to be in Yobe State to see that peace has returned to the north eastern part of Nigeria, contrary to the negative reportage in the media owing to the activities of the now depleted insurgents.

While presenting the plaque to Haruna, Monsieur Coulibaly Mamady from Cote d’Ivoire thanked the university community for the hospitality. He said they had received reports of the achievements of the vice- chancellor and wished him more grace in achieving more to the pride of Africa.

The certificate was presented

by Khalifa and Miss Valentina Langart from Kenya, while goodwill messages came from the Deputy Vice- Chancellor of the university, Professor Maimuna Waziri, the Registrar, Alhaji Sule Dauda and a representative of the students.

The visiting team also paid a courtesy visit to the Emir of Bade, Alhaji Abubakar Umar Suleiman in his palace after the award ceremony.

WELL DONE

L-R: The Director, PZ Cussons Consumer Nigeria Plc; Mr. Christos Giouras; the Executive Director, Corporate Affairs, Yomi Ifaturoti; the Head, Corporate Services Division, Institute of Chartered Chemist of Nigeria (ICCON), Ms. Rita Michael-Ojo; the General Manager, External Affairs, PZ Cussons Nigeria, Mr. Mohammed Tahir; and the Company Secretary, Mrs. Abiola Laseinde, at the presentation of ICCON merit award to the company in Lagos‌ recently

Federal Lawmaker LEAH Foundation Adopts 900 Boosts Education in Epe, Vulnerable Children in Kwara the latest adoption of such Hammed Shittu in Ilorin Donates Books children was five boys adopted Suday Okobi

Driven by the desire to improve the educational standard of his people, the member representing Epe Federal Constituency in the Federal House of Representatives, Hon Tasir Raji, has donated 10,000 books on various subjects to primary and secondary schools in his constituency.

He promised to work towards improving the standard of education in the area and seek solution to challenges that had accounted for the seeming underdevelopment of his constituency.

In his remarks during the presentation of the books to the schools at Epe Grammar School recently, which was attended by government functionaries, including the Deputy Governor, Mrs. Oluranti Adebule, the lawmaker said the event represented a major milestone in his effort to solidify the educational foundation of his people at primary and secondary level “and to a very large extent, this event also complements the ongoing initiative of the state

government to reinvigorate the education sector in the state. “Qualitative education remains a major pillar of human capital development which in itself remains a key driver to economic development in modern societies. “It needs be emphasised that education plays a key role in setting nations apart along the divides of under developed, developing and developed economies, speaking quite frankly the foundation denominates the quality of the superstructure in terms of educational standard.�

Raji, who advised the students to make the best use of the materials, said in realising the desire to improve the educational standard of the people of Epe, “I took the initiative to explore every opportunity that comes my way in my official capacity as the member representing Epe Federal Constituency in the House of Representatives to seek solutions to challenges that have hitherto accounted for our seeming underdevelopment as a people.

The wife of Kwara State Governor, who is the initiator of Leah Foundation, Mrs. Omolewa Ahmed, has disclosed that the foundation has accepted to cater for the educational needs of 900 vulnerable and less privilege children in the state under the adopt-a-child initiative of the foundation.

She said this in a chat with journalists in Ilorin while highlighting the achievements of the foundation in the past five years of its existence in the state. “Under the ‘adopt a child’ programme of LEAH foundation, educational needs of students in public schools like uniforms, school sandals, bags, textbooks and writing materials were supplied by the foundation. “When LEAH adopts a child, it does not mean that such a child will leave his parents, but the educational needs of such students will be provided by the foundation.�

She said the gesture cuts across the 16 local government areas of the state, including non-indigenes, adding that

at Emmanuel Church Primary School, Kekebe in Moro Local Government Area.

Ahmed added that the five boys were brought to LEAH Children Reception Home (LCRH) where they will live and attend nearby secondary school. She said the foundation was a calling from God and a ministry established to touch the lives of the vulnerable, orphaned, abused children and widows positively.

She assured the less privileged in the society of her efforts towards making life more meaningful for them in the face of numerous economic challenges. According to her, the foundation was a project she started informally before her husband became the governor. “I therefore used the privilege of being the wife of the governor to broaden the scope of our activities in other to achieve the desire goals of touching lives.�

She said the foundation had carried out many community outreaches, adopting the parental responsibilities of orphans.

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The Future of Nigeria Lies in You, Youths Told Peace Obi Nigerian youths have been told that the future of the country lies in them and that as leaders of today and tomorrow, the future of the country will be determined by the difference they can make through their behaviours, choices, decisions and by the way they think.

They were also told that patriotism is not measured by how great a person becomes, but by how honest he/she becomes. Speaking at the 11th We Are the Future of Our Nation (WATFON) with the theme ‘Love Nigeria’, a former Governor of Cross River State, Liyel Imoke told the participating students that it is in their hands to give birth to a better Nigeria and to bring about the change they desire in their country.

Imoke, who defined patriotism as love, said the love of the country by its citizenry, constructive criticism, among others can only aid the move to a better future. “Move for things that bind together than things that divide us,� he said, adding that their dreams are better birth in Nigeria and they stand a better chance of having their dreams fulfilled in their country than anywhere else in

the world.

Imoke said nature has bestowed on the youths the opportunity to turn away from some decisions and choices of the past that they felt are not proper. “So, whether Nigeria grows, it will be up to you. So if you think that the people before us were terrible, they didn’t know what they were doing, the choices are going to be made by you.

So the caterpillar inside you is going to become that butterfly. “The beautiful Nigeria is in you. Let us be proactive, let us share in building our nation, let us choose to love Nigeria because the Nigeria we will see tomorrow will begin to manifest in you of today.�

The Managing Director of Sahara Petroleum, Mr. Tonye Cole, said it is important that Nigerian youths realise that they have a serious mandate to stand tall for Africa. He said Nigerian youths represent the entire African race and that the black race would suffer if they fail to realise whom they are because in every four blacks, one will be a Nigerian. Cole, who stressed that youths are important elements in nation building, said the task will be made easier if they understand what

it means to be a Nigerian, their roles in the world that cannot be stopped.

For the host, the Managing Director, Edumark Consult, Mrs. Yinka Ogunde, inspiring patriotism and good leadership in the youths remain the core of the WATFON project. She said the initiative has continued to sow seed of leadership and patriotism; deep love for the nation in the lives of the youths. “Leadership is everything; the state rises and falls on leadership and once you get it right there is a way things fall into place. All you need to sell to us is the right vision. We are hardworking, talented and creative.

Nigerians are found in every sector yet when it comes to poverty, we are one of the worst. We are praying over that seed that it will germinate and it is germinating because we have come across wonderful testimonies of young boys and girls who have attended this programme and what it did in their lives.�

The founder of LEAP Africa, Mrs. Ndidi Nwuneli, who spoke on a topic ‘Think Nigeria’, charged the students to always come up with a solution to every problem they are worried about in the country. This she said has been her model in tackling problems that annoy her in the country.

CATCHING THEM YOUNG

L-R: A teacher at Kids’ Court School, Surulere, Miss Adikat Adegbite; the Proprietress, Dr. Bimbola Ogundere; Mr. Hakeem Adegoke-Are, and some pupils of the school displaying their award during the second Logophile spelling bee competition‌ recently

Meadow Hall Group Unveils Edutainment Centre Chinazor Megbolu In a bid to nurture and inspire creativity in children, Meadow Hall Group has unveiled its Spring Meadow Edutainment Centre in Lagos. The company during the launch in Lagos recently, said the centre is now closer to working parents towards providing one-stop centre for children’s talent development.

In her remarks, the Group Managing Director, Mrs. Kehinde Nwani, said the centre is committed to excellence especially in the areas of nurturing children’s talents. “Spring Meadow Edutainment Centre is essentially tailored to meet the needs of working parents by offering a centre for developing children’s talents in various areas such as Science, Technology, Engineering and Mathematics (STEM), Bookarama (reading club), afternoon adventure, learning hub, music academy and babies’ room (crèche).â€?

She said there are other programmes like fairs, camps, excursions and tours throughout the year. “This is geared

towards developing children’s multiple intelligences, expand children’s learning experiences and widen their horizon.�

Nwani explained that with dedicated and well trained staff at the ccentre, parents are assured of care and positive engagement of their children in the area of artificial intelligence, creativity, sports, music, arts, reading habits, sciences, engineering, technology, mathematics, among others.

She said the centre will be opened after school hours, at weekends and during holidays and opens Monday to Friday from 12 noon to 7pm, while children from three months to two years are welcome to babies’ room (crèche) between 7am and 7pm. “Therefore, parents do not need to be worried about how to engage their children while they are at work.â€?

Nwani added: “I’d like to specially appreciate and commend the Lagos State Government for its commitment to the education sector. It has initiated programmes such as Code Lagos and has implemented the new education policy, among other things. The Meadow Hall

Group promises that we will continue to partner with you in your bid to make Lagos a truly excellent place.�

In her keynote address, the state Deputy Governor, Mrs. Oluranti Adebule, who was represented by the Permanent Secretary, Deputy Governor’s Office, Mrs. Yetunde Odejayi, thanked Nwani for the vision of the Meadow Hall Group not only in setting up such a centre for the development of children’s talents, but also for putting God first in the pursuit of the group’s vision. She urged the management to replicate the centre in other parts of the state to cater for more children.

On behalf of parents, Mrs. Sobulo Hajarah thanked the group for the initiative and its passion for raising excellent, Godly and well-rounded children.

She said she has enrolled two of her children at the centre and is satisfied with the result and advised other parents to do the same because “academic excellence without creativity and multiple intelligences will put a child at a disadvantaged position in this present world.�

When ‘Your Child Wants to be Alone’‌ ‌it’s alright if this isn’t always the case. In children, the inability to relate with others in socially acceptable ways gets teachers querying autism amongst other likely problems. The diagnosis of autism is more popularly made on the basis of behavioral assessments. A collation of your child’s teacher’s observations and of course yours, are crucial for these behavioral assessments. When therefore your doctor suggests that your child has autism, your immediate reaction might be of panic, denial, fear, disbelief and the urge to seek repeat medical opinions.

Autism is dierent in every child and could be a dodgy disorder to diagnose. Notwithstanding, there are a few key ways in which doctors identify autism in children. If your infant or toddler is showing any of the signs of autism, you should visit your child’s doctor immediately with your concerns. Autism occurs at a young age and can be detected around age two or three. Clear autistic signs are many times even noticeable much earlier.

The ďŹ rst signs of autism are typically delays or regression in speech and communication. Another early sign is abnormal behavior in group play situations and other social situations. The ďŹ rst step to diagnosing autism is a thorough physical examination as well as a review of family history by a specialist. Although your regular pediatrician should be able to spot unusual behavior, you should want your child to be examined by a professional who specialises in autism and other similar disorders to ensure your child is properly diagnosed.

The next step should include hearing tests. It is important to make sure that your child is hearing clearly. If you’ve noticed that he/she is displaying language and social skill delays, it could be that he/ she is experiencing inadequate auditory sensations. There are two types of auditory tests. The ďŹ rst records the tones the child can hear.

The other requires sedation and measures the brain’s response to certain tones. Of course, the ďŹ rst method is preferred, since it does not require any use of a sedative. After auditory testing, your doctor may encourage testing your child for Fragile X Syndrome because this disorder oftentimes goes hand in hand with autism. Your child’s metabolism can also be evaluated. To do this, your doctor would need their blood or urine sample.

An MRI, CT or CAT scan can also be helpful in diagnosing autism.

These days, many brain imaging analysis have revealed that there are dierences in the grey matter between children who have and do not have autism. Available scientiďŹ c literatures report that there are ďŹ ndings suggesting that children who experience the most severe autism have the most profound brain structure dierences. Using brain imaging is ďŹ nding that speciďŹ c networks within the brain that’s associated with social communication skills have a peculiar structure in children within the Autistic Spectrum Disorder.

Autism is diďŹƒcult to diagnose and even more diďŹƒcult to manage.

There is mega useful information out there. You should begin to learn as much as possible about the disorder as soon as your medical practitioner identiďŹ es it. If you haven’t spoken with your doctor about the abnormal behaviour you’ve noticed in your child, do so immediately.

By detecting autism early, you’d give your child a better chance at becoming a high-functioning individual with much more opportunities to access more social and life-skills.

Omoru writes from the UK

Regina Pacis Wins SWAN Quiz Contest Kasim Sumaina in Abuja With aggregate points of seven, Regina Pacis Secondary School, Garki, Abuja has emerged winner of the Society of Women Accountants of Nigeria (SWAN) career talk/ quiz competition for public and private secondary schools in Abuja Municipal Area Council.

The school was closely followed by Government Secondary School, Wuse with a grade point average of six to emerge second, while Government Secondary School, Mabuchi came third with three points.

According to the Abuja Chairperson of SWAN, Mrs. Katchy Patience, the competition with the theme, ‘Catch Them Young’ was to promote the accounting profession as a way of keying into the programme of the parent body. “Let me use this opportunity to encourage our future lead-

ers to embrace the accounting profession; as the programme progresses, you will be taught on how to become a chartered accountant and the benefit of being a chartered accountant.�

In her remarks, Mrs. Ajide Adekemi of the Bursary Department, University of Abuja said the purpose of organising the quiz was to improve the reading culture among the students and to enable teachers put in more efforts in their jobs. “Once we organise something like this, they will definitely put in effort to make sure that their students win. So we want them to inculcate this habit so that at all times, teachers will be working and students will perform well.�

She said the programme has been on for a long time all over the country, but in Abuja area, it started in 2014. “We invited 20 schools and 18 came; then there was sexual harassment

35

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‘Federal Varsity Lokoja Got N3.9bn TETFund Grant in 2016’ Yekini Jimoh in Lokoja The Vice-Chancellor of the Federal University, Lokoja, Professor Angela Freeman Miri, has disclosed that the institution in 2016 received N2 billion as intervention fund through the Tertiary Education Trust Fund (TETFund) as Special High Impact Project.

Miri, who made this known recently in Lokoja while briefing journalists as part of activities to mark her 365 days in office as the vicechancellor, said the support is for programme upgrade and the provision of physical

infrastructure for teaching and learning.

She added that TETFund has allocated N1.9 billion for the 2016 Normal Intervention that would cater for various projects in the institution, saying that the university has the advantage of being located in Kogi State which she said is endowed with numerous natural resources. “In line with the primary role of the university, we plan to develop and strengthen more diverse academic programmes that will provide opportunities for young Nigerians to start the journey in diverse

specialised like exploitation of natural resources as well as tourism.�

While seeking partnership with relevant stakeholders to develop the permanent site, the vice-chancellor said it would be irrational to move to the site without adequate security measures being put in place.

She applauded the readiness of Governor Yahaya Bello to construct perimeter fencing around the area.

She expressed hope that with the renewed determination of the federal government, TETFund and the state government, the university would

move to its permanent site soonest; this she said would enable the institution to widen its academic scope to run other programmes. On the non-availability of medical courses in the university since inception, Miri said apart from structural constraints, the National Universities Commission (NUC) had stipulated 15 years of existence of any university before running any health-related discipline.

She assured the university community and the country of running a system that would address the immediate challenges of the society.

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Why Pupils Need to do Primary Six

ĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ Ă“Ă? ÞÒĂ? Ă–Ă‹Ă?Þ˚Ă?Ă?Ă˜Ă“Ă™Ăœ Ă?Ă–Ă‹Ă?Ă? Ă“Ă˜ ÞÒĂ? ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Ă?ÒÙÙÖ Ă–Ă?Ă Ă?Ă–Ë› ĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ Ă“Ă? ÞÒĂ? Ę¨Ă˜Ă‹Ă– Ă?Ă–Ă‹Ă?Ă? ĂŁĂ™Ă&#x; ÞËÕĂ? ĂŒĂ?Ă?Ă™ĂœĂ? Ă–Ă?Ă‹Ă Ă“Ă˜Ă‘ ÞÙ Ă?Ă?Ă?Ă™Ă˜ĂŽĂ‹ĂœĂŁ Ă?Ă?ÒÙÙÖ˛ Ă&#x;ÚÓÖĂ? ÞÒĂ?Ă?Ă? ĂŽĂ‹ĂŁĂ? ÙʰĂ?Ă˜ Ă?Ă•Ă“Ăš ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?ÓⲠÒËà Ă? ĂŽĂ“Ă?Ă?Ùà Ă?ĂœĂ?ĂŽ ÞÒËÞ ĂšĂ&#x;ÚÓÖĂ? ĂĄĂ’Ă™ ĂŽĂ™ ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ ĂžĂ?Ă˜ĂŽ ÞÙ Ă‘Ă‹Ă“Ă˜ ÞÒĂ? Ă?Ă™Ă–Ă–Ă™ĂĄĂ“Ă˜Ă‘Ë? ĚŠ Ă?ĂžĂ‹ĂœĂŽĂ‹ĂžĂ“Ă™Ă˜Ë? Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă™Ă? ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Ă?ÒÙÙÖ Ă‹Ă‘Ă?Ëœ ÞãÚÓĂ?Ă‹Ă–Ă–ĂŁ ÍŻÍŽ ÞÙ ÍŻÍŻ ĂŁĂ?Ă‹ĂœĂ? ÙÖÎ ĂœĂ?Ă?Ă?Ă“Ă Ă? Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ ÞÒËÞ Ă?×ÚÒËĂ?Ă“Ă?Ă?Ă? ĂŒĂ‹Ă?Ă“Ă? Ă‹Ă?Ă‹ĂŽĂ?Ă—Ă“Ă? Ă‹Ă˜ĂŽ Ă?Ă™Ă?Ă“Ă‹Ă– Ă?Ă•Ă“Ă–Ă–Ă?Ë› ÙåĂ?Ă Ă?ĂœËœ ÞÒĂ? Ă?ĂšĂ?Ă?ÓʨĂ? Ă?Ă•Ă“Ă–Ă–Ă? ÞËĂ&#x;Ă‘Ă’Ăž ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ ĂšĂ&#x;ÚÓÖĂ? Ă Ă‹ĂœĂŁ ĂĄĂ“ĂŽĂ?Ă–ĂŁ Ă?Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă–ĂŁ Ă‹Ă?ĂœĂ™Ă?Ă? ÞÒĂ? Ă–Ă?Ă Ă?Ă–Ă? Ă™Ă? ĂœĂ?ĂžĂ‹ĂœĂŽĂ‹ĂžĂ“Ă™Ă˜Ë› Ă™Ăœ Ă?âË×ÚÖĂ?Ëœ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? åÓÞÒ Ă—Ă“Ă–ĂŽ ĂœĂ?ĂžĂ‹ĂœĂŽĂ‹ĂžĂ“Ă™Ă˜ ĂœĂ?Ă?Ă?Ă“Ă Ă? Ă“Ă˜Ă?ĂžĂœĂ&#x;Ă?ĂžĂ“Ă™Ă˜ Ă“Ă˜ Ă—Ă‹ĂžĂ’Ëœ ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘Ëœ ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?Ă™Ă?Ă“Ă‹Ă– Ă?Ă•Ă“Ă–Ă–Ă?Ë› Ă’Ă?ĂŁ ĂŒĂ?Ă?Ù×Ă? Ă—Ă&#x;Ă?Ă’ Ă‘ĂœĂ™Ă&#x;Ă˜ĂŽĂ?ĂŽ Ă“Ă˜ ÞÒĂ? Ă?Ă&#x;ĂŒĂ”Ă?Ă?ĂžĂ?Ë› ĚŠ Ă?Ă‹ĂŽĂ?Ă—Ă“Ă? Ă?âĂ?Ă?Ă–Ă–Ă?Ă˜Ă?Ă?Ë? ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă“Ă˜ Ă?Ă?Ă?Ă™Ă˜ĂŽĂ‹ĂœĂŁ Ă?Ă?ÒÙÙÖ ĂĄĂ’Ă™ ĂŽĂ“ĂŽ ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ Ă‘Ă?Ăž Ă‹Ă?Ă‹ĂŽĂ?Ă—Ă“Ă? Ă?âĂ?Ă?Ă–Ă–Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă?Ă Ă?ĂœĂŁ Ă?Ă&#x;ĂŒĂ”Ă?Ă?Ăž Ă‹Ă˜ĂŽ ĂžĂ’Ă“Ă˜Ă‘Ă? ÞÒĂ?ĂŁ ĂŽĂ™ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă“Ă˜ ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Ă“Ă˘Ëœ ĂšĂ&#x;ÚÓÖĂ? Ă‹ĂœĂ? ÞËĂ&#x;Ă‘Ă’Ăž ÞÙÚÓĂ?Ă? Ă‹Ă˜ĂŽ Ă?Ă&#x;ĂŒĂ”Ă?Ă?Ăž ĂĄĂ’Ă“Ă?Ă’ Ă?ĂžĂ&#x;ĂŽĂ?Ă˜ĂžĂ? Ă—Ă?Ă?Ăž Ă“Ă˜ Ă?Ă?Ă?Ă™Ă˜ĂŽĂ‹ĂœĂŁ Ă?Ă?ÒÙÙÖ˛ Ă’Ă?ĂŁ Ă‹ĂœĂ? Ă‹Ă–Ă?Ă™ ÞËĂ&#x;Ă‘Ă’Ăž ÑÙÙÎ Ă—Ă™ĂœĂ‹Ă–Ă? Ă‹Ă˜ĂŽ Ă?Ă‹Ă˜ ĂŒĂ? Ă&#x;Ă?Ă?Ă?Ă&#x;Ă– ÞÙ ÞÒĂ?Ă—Ë› ĚŠ Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜Ë? ĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ ĂšĂ&#x;ÚÓÖĂ? Ă?Ù×ÚĂ?ĂžĂ? åÓÞÒ ÞÒĂ?Ă—Ă?Ă?Ă–Ă Ă?Ă? Ă?Ă™Ăœ ÞÒĂ? ĂŒĂ?Ă?Ăž ÚÙĂ?Ă“ĂžĂ“Ă™Ă˜ ĂĄĂ’Ă“Ă?Ă’ Ă“Ă? Ę¨ĂœĂ?Þ˛ Ă’Ă?ĂŁ Ă‹Ă–Ă?Ă™ Ă?Ù×ÚĂ?ĂžĂ? åÓÞÒ ÙÞÒĂ?Ăœ Ă?Ă?ÒÙÙÖĂ?Ë› Ă’Ă?ĂŁ ĂĄĂ“Ă˜ ×ËÞÒĂ?×ËÞÓĂ?Ă? Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜Ă? åÓÞÒ ĘŽĂŁĂ“Ă˜Ă‘ Ă?ÙÖÙĂ&#x;ĂœĂ? ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă™Ă? ÞÒĂ? Ă‘ĂœĂ?Ă‹Ăž ĂžĂ&#x;ĂžĂ™ĂœĂ?Ă’Ă“Ăš Ă‹Ă˜ĂŽ Ă?Ă˘ĂžĂœĂ‹ ÞÓ×Ă? Ă™Ăœ ĂŁĂ?Ă‹Ăœ Ă?ĂšĂ?Ă˜Ăž ĂšĂœĂ?ĂšĂ‹ĂœĂ“Ă˜Ă‘Ë› ĚŠ Ă‹ĂžĂ&#x;ĂœĂ“ĂžĂŁË? Ă’Ă‹Ă Ă? Ă‹Ă–Ă?Ă™ Ă?Ù×Ă? ÞÙ ĂœĂ?Ă‹Ă–Ă“Ă?Ă? ÞÒËÞ ĂšĂ&#x;ÚÓÖĂ? ĂĄĂ’Ă™ ĂŽĂ™ ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ ĂžĂ?Ă˜ĂŽ ÞÙ ĂŒĂ?Ă?Ù×Ă? Ă—Ă‹ĂžĂ&#x;ĂœĂ?ĂŽ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;ĂœĂ‹Ă–Ă–ĂŁËœ Ă“Ă˜ĂžĂ?Ă–Ă–Ă?Ă?ĂžĂ&#x;Ă‹Ă–Ă–ĂŁ Ă‹Ă˜ĂŽ Ă?Ă™Ă?Ă“Ă‹Ă–Ă–ĂŁË› Ă’Ă?ĂŁ ĂŒĂ?Ă?Ù×Ă? Ă“Ă˜ĂŽĂ?ĂšĂ?Ă˜ĂŽĂ?Ă˜Ăž Ă“Ă˜ ĂŽĂ™Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ ĂžĂ‹Ă•Ă“Ă˜Ă‘ ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă“ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă? Ă‹Ă? ĂœĂ?Ă‘Ă‹ĂœĂŽĂ? ÞÒĂ?Ă“Ăœ Ă?Ă?Ă’Ă™Ă™Ă–ĂĄĂ™ĂœĂ•Ë› Ă™Ă˜Ă?Ă–Ă&#x;Ă?Ă“Ă Ă?Ă–ĂŁËœ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂšĂ&#x;ÚÓÖĂ? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă?Ă?Ă? ÞÒĂ? Ă˜Ă?Ă?ĂŽ ÞÙ ĂŽĂ™ ĂšĂœĂ“Ă—Ă‹ĂœĂŁ Ă?Óâ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? ÞÒĂ?ĂœĂ? Ă‹ĂœĂ? Ă—Ă‹Ă˜ĂŁ ĂŒĂ?Ă˜Ă?ʨÞĂ? Ă“Ă˜Ă Ă™Ă–Ă Ă?ĂŽË›

Secret to Academic Success Ă&#x;Ă?Ă?Ă?Ă?Ă? Ă“Ă? ĂŽĂ?Ę¨Ă˜Ă?ĂŽ Ă‹Ă? ÞÒĂ? Ă‹Ă?Ă?Ù×ÚÖÓĂ?Ă’Ă—Ă?Ă˜Ăž Ă™Ă? Ă‹Ă˜ Ă‹Ă“Ă— Ă™Ăœ ĂšĂ&#x;ĂœĂšĂ™Ă?Ă?Ë› Ă?ĂœĂ?Ă™Ă˜Ă‹Ă–Ă–ĂŁËœ Ă’Ă‹Ă Ă? Ă˜Ă?Ă Ă?Ăœ Ă?Ă?Ă–Ăž ÞÒËÞ ÞÒĂ?ĂœĂ? Ă‹ĂœĂ? Ă‹Ă˜ĂŁ Ă?Ă?Ă?ĂœĂ?ĂžĂ? ÞÙ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ë›

Ă˜ Ă—ĂŁ Ă™ĂšĂ“Ă˜Ă“Ă™Ă˜Ëœ ĂŒĂ?Ă–Ă“Ă?Ă Ă? ÞÒËÞ Ă?Ă Ă?ĂœĂŁ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă? Ă“Ă? Ă–Ă?ĂŽ ĂŒĂŁ Ă?Ă™Ă˜Ă?Ă“Ă?ĂžĂ?Ă˜Ăž Ă’Ă‹ĂœĂŽ ĂĄĂ™ĂœĂ• Ă‹Ă˜ĂŽ ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ Ă?ÞËã Ă&#x;Ă˜ĂŽĂ?ĂžĂ?ĂœĂœĂ?ĂŽ ĂŽĂ?Ă?ÚÓÞĂ? Ă?Ă–Ă“Ă‘Ă’Ăž Ă?Ă‹Ă“Ă–Ă&#x;ĂœĂ?Ă?Ë› Ă&#x;Ă?Ă’ ËʾÓÞĂ&#x;ĂŽĂ?Ă? Ă‹ĂœĂ? ÞÒĂ? ĂœĂ?Ă‹Ă?Ă™Ă˜ ĂĄĂ’ĂŁ Ă?Ă&#x;Ă?Ă?Ă?Ă?ĂŽĂ?ĂŽ ÞÙÙ˛ Ă’Ă?ĂœĂ? Ă‹ĂœĂ? Ă‹Ă–ĂĄĂ‹ĂŁĂ? Ă‘ĂœĂ?Ă‹Ăž ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă–Ă“ĂžĂ“Ă?Ă? ĂĄĂ’Ă™ Ă‘Ă&#x;Ă“ĂŽĂ? Ă™Ă˜Ă? ÞÙ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ë› Ă’Ă?Ă?Ă? Ă‹ĂœĂ? Ă—ĂŁ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă‹Ă˜ĂŽ ĂžĂ?Ă‹Ă?Ă’Ă?ĂœĂ?Ë› ĂŽĂ™ ÙåĂ? ÞÒĂ?Ă— Ă‹ ÖÙÞ˛ ĂŁ Ă‹Ă?Ă’Ă“Ă?Ă Ă?Ă—Ă?Ă˜Ăž Ă“Ă? Ă‹ ĂœĂ?Ă?Ă&#x;Ă–Ăž Ă™Ă? ÞÒĂ?Ă“Ăœ Ă’Ă‹ĂœĂŽ ĂĄĂ™ĂœĂ• ÞÙ ĂšĂ&#x;Ăž Ă—Ă? Ă™Ă˜ ÞÒĂ? ĂœĂ“Ă‘Ă’Ăž ÚËÞÒ ĂžĂ™ĂĄĂ‹ĂœĂŽĂ? Ă‹Ă?Ă‹ĂŽĂ?Ă—Ă“Ă? ÑÙËÖĂ?Ë› ÓÞÒÙĂ&#x;Ăž ÞÒĂ?Ă—Ëœ ÞÒĂ?ĂœĂ? ĂĄĂ™Ă&#x;Ă–ĂŽĂ˜ËŞĂž ĂŒĂ? ĂĄĂœĂ“ĂžĂ“Ă˜Ă‘ ÞÒÓĂ? Ă‹Ăž ÞÒĂ? ×Ù×Ă?Ă˜ĂžË› Ă&#x;Ă?Ă’ ĂĄĂ?ĂœĂ? ÞÒĂ? Ă?Ă?Ă?ĂœĂ?ĂžĂ? ĂŒĂ?Ă’Ă“Ă˜ĂŽ Ă—ĂŁ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ë› Ă&#x;Ăž Ă’Ă™Ă˜Ă?Ă?ĂžĂ–ĂŁËœ ĂŽĂ™ ĂŁĂ™Ă&#x; ĂœĂ?Ă‹Ă–Ă–ĂŁ ĂŒĂ?Ă–Ă“Ă?Ă Ă? ÞÒĂ?ĂœĂ? Ă‹ĂœĂ? Ă?Ă?Ă?ĂœĂ?ĂžĂ? ÞÙ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?ËŁ Ă?Ă–Ă– ĂžĂ’Ă“Ă˜Ă• Ă‹Ă‘Ă‹Ă“Ă˜Ë›Ë›

Eruotor writes from Lagos

Etisalat Rewards Winners of DigitalSENSE Essay Contest REWARDING EXCELLENCE

L-R: The Head, Department of Mass Communication, University of Lagos (UNILAG), Dr. Sunday Oloruntola; the 2014 best graduating student of the department, Nancy Ladeinde; the Group Managing Director, Weatherhead Advertising Ltd, Mr. Abi Iderawunmi; the Executive Director of the company, Mrs. Adenike Iderawunmi; and the 2016 best graduating student of the Department of Mass Communication, UNILAG, Tasudeen

Education Subsidy, Solution to Insurgence, Says NANS The President of the National Association of Nigerian Students (NANS), Chinonso Obasi has said the easiest way for the government to permanently defeat insurgence and militancy in the country is to introduce subsidy in the education sector.

This was even as he called on President Muhammadu Buhari to urgently seek ways of establishing special courts on anti-corruption matters, saying that the delay in prosecuting individuals involved in corruption cases is inimical to the ongoing anti-corruption war.

Obasi spoke when he led the organisation to a thanksgiving service at the Faith

Miracle International Church, Abuja, following the conclusion of its three-day prayer on the quick recovery and safe return of the president to the country.

While stating that introducing subsidy in education would afford every Nigerian child the opportunity of being adequately educated, he appealed to Buhari to consider such step as one of his legacies. “We, the Nigerian students are the most marginalised people in this country and so Buhari’s administration has not shown any love to the Nigerian students. “We are appealing to him to subsidise education. When you train a Nigerian

child, you have trained a nation. He should not leave the responsibility of educating the Nigerian child to the parents because if you don’t train us, in time to come, we will be more hazardous than Boko Haram terrorists and more dangerous than the militants.

Obasi, who lauded the successes recorded by the current administration in its war against corruption so far, appealed to the president to think of establishing special courts on corruption issues, saying the delay being witnessed in the prosecution of individuals linked with corruption is affecting the anti-corruption crusade.

Kwara Earmarks N3bn for Extension of KWASU, Appoints Two DVCs Hammed Shittu in Ilorin The Kwara State Government has earmarked over N3 billion for the construction of two campuses of the Kwara State University (KWASU) located at Osi and Ilesha in Ekiti and Baruten Local Government Areas, as well as the establishment of a new School of Governance and Business in Ilorin.

The government also approved the immediate appointment of a deputy vice-chancellor academics and a deputy vice-chancellor administration for the institution, to assist the Vice-Chancellor, Professor Abdulrasheed Na’Allah in the

running of the university.

The Commissioner for Information and Communications, Alhaji Mahmud Ajeigbe, disclosed this in Ilorin while briefing journalists on the outcome of the state executive council meeting held at the Government House.

According to him, the decision to embark on the development of the two campuses is to provide functional and quality tertiary education for youths, adding that the development would ensure that the vision of setting up the university is achieved.

The commissioner added that the approval for the immediate

appointment of two DVCs was in accordance with the law setting up the university, as well as the abrogation of courses on Legal Administration and Portuguese being offered by the university.

Ajeigbe, who was accompanied by the Special Adviser, Legal and Senior Special Assistant, Media and Communications to the governor, Suleiman Atolagbe and Dr. Muideen Akorede, said the projects would be funded through the Kwara Infrastructural Funding window (IFK) based on a public private partnership (PPP) framework.

Etisalat has reaffirmed its commitment to the development of the education sector and youth empowerment in the country by rewarding winners of the 2016 Etisalat-DigitalSENSE Students’ Essay Competition.

The three winners are Onyebuchi Ekuma, a fourthyear medical student of the University of Nigeria, Nsukka (UNN); Henry Oguns, a 500 level Petrochemical Engineering student of the University of Benin; and Egwe Christopher, a fourth year Law student of the Nnamdi Azikiwe University, Awka. Ekuma, who emerged the star-prize winner, received a laptop with free internet access, while Oguns and Egwe who came first and second runners-up respectively got a tablet device and a mobile phone. They came tops in the Etisalat-sponsored competition with the theme, ‘Internet Governance for Development: Creating Opportunities for All Nigerians’, organised by DigitalSENSE Africa (DSA).

Speaking at the prize presentation ceremony in Lagos recently, the Head, Environmental Compliance and Public Relations, Etisalat Nigeria, Oluseyi Osunsedo, said the competition was one of the various platforms through which the company promotes education and supports youth development in Nigeria. “This competition is part of the annual Nigeria DigitalSENSE Forum on Internet Governance for Development, as well as the

Nigeria IPv6 Roundtable. As a youth-friendly company, we at Etisalat are pleased to create and support platforms that contribute to the development of Nigeria’s education sector and the empowerment of the Nigerian youth. “Our drive is to continue to support the development of education in Nigeria. This collaboration with DigitalSENSE Africa is a proof of our commitment to supporting the dreams of Nigerian youths and helping them to actualise their potential. Etisalat will continue to provide innovative products and services, a reliable network, as well as cutting edge solutions to our subscribers of which the youth are a critical segment,� Osunsedo said.

The Group Executive Editor and Lead Strategist, DigitalSENSE Africa, Remmy Nweke, thanked Etisalat for its continued sponsorship of the competition, which is open to students between 18 and 30 years old and aims to help the youths to explore opportunities on the internet.

Nweke said the total of 171 entries received for the 2016 edition were assessed based on the understanding of the topic, ability to localise it, the presentation, and strict adherence to 600 word count limit.

To further motivate the youths to aim higher, Ekuma’s winning essay will be published in ITRealms and he will participate in the Nigeria Internet Governance Forum as Etisalat-DigitalSENSE student ambassador.

WEDNESDAY, MARCH 1 5, 2017, ˾ T H I S D AY

36

CITYSTRINGS

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

Onitsha's Recurring Fire Disasters In just one month, Onitsha the commercial nerve centre of Anambra State and the South-east, has experienced about four fire disasters, which destroyed businesses, property and homes of victims, reports David-Chyddy Eleke

Obiano (middle) at the scene of Onitsha fire incident. With him is the Obi of Onitsha, Igwe Nnaemeka Alfred Achebe (2nd left) and other sympathisers

R

esidents of the commercial town of Onitsha told journalists that within February alone, two previous fire incidents had upset the people, leaving them in fear. But if the previous incidents left them in fear, the incident of the fallen fuel tanker at the DMGS junction which destroyed over 13 homes, three filling stations and 10 vehicles among other property may have sent a chill up their spines.

The previous incidents may have been minor, or so, as it did not attract so much attention, but the petrol tanker fire jolted all in the commercial town and those outside, attracting the attention of the state governor and also other top personalities who had visited the area to commiserate with victims and also inspect the extent of damage done.

THISDAY gathered that the fire started at about 8p.m. on the fateful day, after an articulated vehicle laden with petrol had fallen inside Mobil filling station by Dennis Memorial Grammar School (DMGS) roundabout, while trying to negotiate a bend. According to a resident of the area, fuel from the tanker flowed down the road through the drainage, leading to the spread of the fire. The source said the inferno affected part of the popular Kamo Plaza which houses two banks, but that minimal damage was recorded on the plaza.

Mrs. Chinelo Onyeuna, a victim and Manager of Bencash Investment Nig. Ltd., a company dealing in electronics and furniture, said she lost items worth N100 million to the inferno.

“We had goods worth over N100 million. Just look at our plaza, it has burnt down completely.

Government should stop all the people operating

filling stations near residential buildings, we also call for assistance from the state government to cushion the effect of the fire,” she said.

Another victim, Mrs. Juana Oboli, from Onitsha, said she lost her residential building which she laboured for 12 years to build. Oboli, a widow and civil servant with the Nigerian Prison Service, Awka, also urged the state government to help her recover from her loss. She said, “I struggled for more than 12 years to complete the house after I lost my husband; I want government to intervene because I don’t have anybody else to help me in this case,” Oboli said.

In Nnewi too, in January, mid night fire suspected to have emanated from flames from hemp smokers had also ignited a fire that gutted a full section of the Nnewi Timber Market, taking in its wake goods and machines said to

We had goods worth over N100 million. Just look at our plaza, it has burnt down completely. Government should stop all the people operating filling stations near residential buildings, we also call for assistance from the state government to cushion the effect of the fire

be worth over N100 million. In another area of the state, Nibo, Awka South local government area where a petrol station fire disaster which happened just one week after the Onitsha fire disaster also totally gutted down the filling station near Awka, but the swift intervention of fire fighters stopped the fire from escalating to nearby buildings.

Again, just two weeks after Onitsha fire incident, another fire incident on a Sunday evening razed down Ekene Dili Chukwu Industrial Cluster in the same Onitsha, destroying machines, goods and raw materials worth over N2 billion.

Like the tanker fire disaster, no life was lost, but over 10 persons involved in rescue mission during the incident sustained various degrees of injuries, while assorted industrial machines, numbering over 50 belonging to the members of the cluster were burnt beyond repairs. Chairman of the cluster, Elder Tony Ubakasi who was also affected by the fire said he could not give account of the cause of the fire, saying that he was only called on phone by somebody and before he arrived, the whole cluster was already up in flame.

The Onitsha fire tanker incident had generated controversy as to the competence of the fire fighting organisation to fight fire, as some eye witnesses had said that it took the intervention of Delta State fire fighters from neighbouring Asaba for the fire to be effectively conquered.

But fire fighters in Anambra debunked the claims, insisting that it was on ground long before the Asaba team arrived. The Executive Director of the State Emergency Management Agency (SEMA), Dr. Paul Odenigbo, explained that the fire service responded early enough to the inferno. He said fire fighters from Asaba

were only called in to assist those from Onitsha and Okpoko when they exhausted their water.

The fire which devastated the entire state led Anambra State governor, Chief Willie Obiano to cut short his official visit to Abuja to return to the state to inspect the affected area. The obviously saddened governor who inspected the level of damage caused by the inferno ordered the purchase of more firefighting equipment to complement the ones already in use.

The Minister of Labour and Employment, Dr. Chris Ngige, former governor of Anambra State, Mr. Peter Obi, a business mogul and governorship aspirant of PPA in Anambra State, Chief Godwin Ezeemo, senator representing Anambra South, Dr Andy Ubah, Senator Uche Ekwunife and Dr. George Muoghalu; aspirant of the APC in Anambra governorship election were some of those who rushed to the site after the incident. Ngige who wept at the volume of books destroyed by the inferno in one of the shops, said to be renowned for sales of important books said, “This is the destruction of a generation. My daughter bought a book here for her medical course. This was after we searched for the book in many bookshops across the country without success. I will direct the National Directorate of Employment, which is a department of my ministry, to come down for an assessment tour of this scene, after which we shall see how we can assist in rehabilitating the victims and repair or replace their burnt properties,” the minister stated.

Obi, who was accompanied to the scene of the fire incident in Onitsha by former Commissioners of Information and Housing and Urban Development, Chief JoeMartins Uzodike and Mr. Patrick Obi respectively, commiserated

WEDNESDAY, MARCH 1 5, 2017, ˾ T H I S D AY

37

CITYSTRINGS

Governor Obiano during his visit to the scene, promised to assist all affected victims.

He announced the setting up of an investigative panel to look into the matter and advise government on the next step to take on how to forestall a future reoccurrence. He lamented the huge losses to the inferno, but thanked God that no life was lost in the sad event

with the victims over their losses.

Moghalu on his part expressed shock at the extent of the damage and appealed to the state government to assist the victims as much as possible to enable them start life once again. He sympathised with the victims and their families, especially those who got injured, lost their homes, other property and means of livelihood in the unfortunate fire incident. Reacting to the inability of the state fire service to rise to the occasion during the emergency, apparently due to lack of operational fire engines, Moghalu then called on the state government to acquire adequate number of new engines.

Ezeemo after a tour of the affected areas frowned at the siting of filling stations close to residential buildings as well as improving the efficiency of fire services across the country. He also reiterated the need for adequate training of fire fighters and provision of modern fire fighting gadgets to mitigate losses during such incidents.

Meanwhile, Obiano during his visit to the scene, just as he was implored by others who visited, promised to assist all affected victims. He announced the setting up of an investigative panel to look into the matter and advise government on the next step to take on how to forestall a future reoccurrence. He lamented the huge losses to the inferno, but thanked God that no life was lost in the sad event. He commended men of the State Fire Service for their efforts to put off the fire and the Delta State Government for promptly assisting the state to battle the fire.

He said the state government will immediately commence clearing the debris, adding that the state government through its Ministry of Lands, will liaise with the owners of Gas Stations in the area to relocate to alternative locations where there are less residential houses.

But, in what has been described as a proactive measure, the state government has commenced the handing over of cheques to victims. Cheques of N500,000 each were handed to 17 persons whose houses and apartments were destroyed during the fire disaster. Governor Willie Obiano presented the cheques to the victims at the Governor's Lodge, Amawbia. The presentation is coming following a preliminary report of an assessment committee set up by Obiano on the 16th of February, to look into the immediate and remote causes of the inferno, find out the actual victims and proffer precautionary measures to avoid a recurrence of such disaster in future.

The committee had in the report, identified a total of 73 persons who were affected including house owners, tenants, lawyers, business operators and petty traders, out of which the 17 persons were selected for the first phase of the intervention. Presenting the cheques, Governor Obiano explained that the sum is for one year's house rent of the displaced victims and an additional N200, 000 to assist them procure basic things that they may require to resettle down for the time being. The governor identified some measures taken by his administration towards combating fire challenges in future to include procurement of three state-of-the-art fire fighting trucks of 10,000 litres water capacity each and compartment that has 750 litres of foam and 75 kg of powder as well as training of 200 medical personnel to assist with first aid treatment and evacuation in emergency situations. These trucks he said, would be positioned in Onitsha, Awka and Nnewi to serve the three senatorial districts of the state.

Obi (middle) at the scene of Onitsha fire incident

Anambra industrialist, Chief Godwin Ezeemo visits Onitsha tanker fire site to inspect damage

A farmer weeping after her cassava farm was destroyed by cows Obiano (1st left) presents cheque to one of the women involved in Onitsha fire incident to resettle her and her family

Also as a way of combating future occurrence, the governor said that the processes have also commenced for the recruitment of 100 youths to make up for the shortfall in manpower of the State Fire Service. He harped on the need for the citizenry to be safety conscious and to embrace insurance covers so as to cushion the effects of any negative eventuality that may arise.

The swift response to the displacement of the people by the incidence as shown by the governor has also elicited commendation from the people. The Executive Secretary of the State

Emergency Management Agency (SEMA), Chief Paul Odenigbo who is the Chairman of the Assessment Committee on the Fire Disaster, revealed that with the support of the state government, the governor has shown that he is a man who stands by his word. He commended Governor Obiano for remaining true to his promise to support the fire victims.

Also, in his remarks, the Anglican Bishop of Niger West, Right Reverend Johnson Ekwe, described Obiano in a remark as a visionary governor par excellence. He said other leaders

in the country can copy from him, especially as it concerns exemplifying governance with a human face.

The victims who were full of praises for the governor could not hide their excitement. Mrs. Joana Oboli, a house owner who had told the story of how she worked for 12 years to complete her house after her husband’s death thanked governor for coming to her rescue, saying that through the gesture, the governor has shown that issues that bother on the people's welfare is of great concern to him.

38

T H I S D AY WEDNESDAY MARCH 15, 2017

T H I S D AY WEDNESDAY MARCH 15, 2017

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WEDNESDAY MARCH 15, 2017 ˾ T H I S D AY

40

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Libyan’s General Haftar Launches Offensive on Key Oil Ports Troops commanded by Libyan renegade general Khalifa Haftar have launched an offensive to seize back control of two of the country’s key eastern oil terminals, according to a spokesman.

“Ground, sea and air forces launched joint attacks to liberate Ras Lanuf from terrorist groups,” Khalifa al-Abidi said after orders were issued early on Tuesday for the push, which is also targeting the nearby Es Sider oil terminal.

Both sites were seized earlier this month by the Benghazi Defence Brigades (BDB) rival group.

At least nine people were killed in fighting on Friday as Haftar’s eastern-based Libyan National Army (LNA) and allied forces retreated from the oil ports.

Al Jazeera’s Mahmoud Abdelwahed, reporting from Tripoli, said that the BDB confirmed reports that their fighters had come under attack.

“The clashes have erupted again but the Benghazi Defence Brigades confirm that they have not lost Ras Lanuf yet to Haftar’s forces.”

The BDB are composed partly of fighters who were

ousted from Benghazi by the LNA. Libya splintered into rival political and armed groupings after the uprising that toppled Muammar Gaddafi in 2011. It remains deeply divided between factions based in the east and west that back rival governments and parliaments.

Haftar, who is aligned with the eastern parliament and government, has been fighting a two-year military campaign with his LNA forces against armed groups in Benghazi and elsewhere in the east.

Meanwhile, US and security sources on Tuesday told the Reuters

news agency that Russia has deployed special forces and unmanned drones at Sidi Barrani, about 100 km from the Egypt-Libya border, adding that any such Russian deployment might be part of a bid to support Haftar.

The reports were later denied by both Moscow and Cairo.

Back in January, Haftar was given a tour of a Russian aircraft carrier in the Mediterranean, according to Russian media reports, a show of Kremlin support for the faction leader who opposes Libya’s UN-backed government.

Francois Fillon Placed Under Formal Investigation French presidential candidate Francois Fillon has been placed under formal investigation over alleged diversion of public funds, prosecutors say.

The centre-right contender is suspected of paying hundreds of thousands of euros

to his family for work they may have not done.

He denies wrongdoing, but had earlier said he would quit the presidential race if placed under investigation.

Until recently, he was the favourite to win the elections in April and May.

T H I S D AY WEDNESDAY MARCH 15, 2017

41

T H I S D AY Ëž , MARCH 15, 2017

42

BUSINESS/MONEYGUIDE

FG Pledges to Resolve Forex Challenges Facing Exporters Ugo Aliogo and Gloria Ajuma The Minister of Agriculture, Chief Audu Ogbeh yesterday expressed the federal government’s desire to address the foreign exchange (forex) challenges faced by exporters, disclosing that the ministry is in talks with the Central Bank of Nigeria (CBN) concerning the issue. Audu who spoke at the FirstBank of Nigeria Expo in Lagos tagged: ‘Re-inventing Agriculture for Sustainable National Development,’ noted that it does not augur well for exporters if they cannot export at the official rate.

He expressed confidence that once the issue is addressed, exporters would be able to repatriate their earnings and not lose money. “We are planning a meeting between the CBN, the Ministry, Nigeria Customs Service (NCS) Nigeria Export Promotion Council (NEPC) and the Ministry of

Finance in order to deal with some of these challenges we face especially as it affects smuggled goods that come into the country and how they damage our local efforts. There is need for us to work to attain self-sufficiency in food production,� the minister explained.

Furthermore, the minister revealed that the federal would soon embark on large-scale production of crops such as cocoa and Shea butter, especially in states that have comparative advantage. He added: “We are also looking at the expansion of coconut. The water from coconut has a natural source of sweetening. Coconut oil is expensive one litre today is N7, 000. A coconut shell is a very expensive export item which can be used to produce activated carbon heavily used in industries just like palm products are very valuable and they are strong export items. Last year, we shipped $6,000 worth of raw

Fidelity Bank Restates Entertainment Industry Fidelity Bank Plc yesterday reiterated its resolve to support operators in the entertainment industry.

The bank’s Chief Executive Officer, Mr. Nnamdi Okonkwo, said this on the Fidelity SME Forum monitored on Inspiration FM, which he anchored yesterday. The programme had popular comedian, Atunyota Akporobomerere, whose stage name is Ali Baba.

Okonkwo said when Fidelity Bank decided to play in the SME, management of the bank sat down and crafted a strategy about how to add value to the sector. “For about seven years now, our strategy has been to focus on segments. A lot of people get entertained by musicians, they see people in the movie industry and get entertained.

cashew to Vietnam. “We have decided that in two years, we shall not export raw cashew nuts we shall begin to roast it and export because from 3tonnes of raw cashew we produce one tonne of roast cashew which sells in Vietnam for $10,000. We need financial support. We are the only country in the world that the interest rate for agriculture sector is still high.�

He said policy summersault by successive government was one of the factors that hindered the attainment of self-sufficiency in food production by the country, lamenting that Nigeria had become highly dependent on food imports.

Earlier, the Managing Director of FBN, Adesola Adeduntan, said the bank was positioned to build alliances with agroproducers, processors and storage companies to ensure improvement in the agricultural sector.

Commitment

But we as bankers, we look at the business components of what people do and how to transform those talents into business. “So, we are here to help this industry identify the business side of their industry and teach them basic business principles such as access to finance, access to business, and how you can even begin to diversify beyond entertainment,� he added.

According to Okonkwo, the bank has an SME division called the Managed SMEs unit which is saddled with the task of ensuring that operators in the SME segment get the desired support.

He revealed that the end of the sixth week of the ongoing SME Forum series on the entertainment industry, Fidelity Bank would thereafter run a

of their target markets as well as experts in their business fields.

The GTBank Food and Drink Fair was created as part of the bank’s efforts to empower small businesses.

The 2016 debut of the consumer-focused event had over 90 exhibitors from the food sector and attracted over 25,000 guests over the 2-day period.

Commenting on the initiative, the Managing Director of Guaranty Trust Bank, Mr Segun Agbaje said: “This

MONEY AND CREDIT STATISTICS free seminar for operators in the industry. “A lot of people are clueless about finance. Indeed, that is why the CBN takes financial literacy seriously. It is in line with this that Fidelity Bank tries to help these people the money and business part of what they do.

We have seen superstars go down to penury, from being millionaires and billionaires and we don’t want that to happen to our entertainment industry players. So, that seminar would look at people who succeeded in the past and suddenly became poor because of management of their finances. Whether you are an Ali Baba, a Don Jazzy, P-Square, etc, what matters is at the end of the day is how you are going to sustain your brand,� he added.

year, we are raising the bar on the scope and features of the event to deliver an exquisite experience of Nigeria’s diverse culinary mosaic to our customers, the general public and food enthusiasts from around the world.�

He further stated that, “With the successes of the first editions of the Food and Drink Fair and Fashion Weekend events, we are encouraged to do more; connecting businesses to consumers, creating new markets and business opportunities for our customers.

Firm Disowns Halawi, Ramachandran, Kumar, Others The Olaoluwakiitan Legal Practitioners has faulted an advertorial by FirstBank Nigeria Limited, in which the bank listed some individuals as directors of its client -Nerra Distribution Limited. Specifically, it stated that the said persons are not directors of Nerra Distribution Limited.

The firm stated this in a letter titled: “Re: False Publication in THISDAY Newspaper Edition of

27th February, 2017� which was in reference to an advertorial by the bank titled: “List of FirstBank Deliquent Debtors.�

In the said publication, Nerra Distribution Limited was described as “deliquent debtor� and the names of certain individuals listed as its directors.

But the law firm, in a letter signed by Ogungbamila Joseph, said its client directed it to notify

MARKET INDICATORS

to

GTBank Set for 2017 Food, Drink Fair The second edition of the Guaranty Trust Bank Plc’s (GTBank) Food and Drink fair is set to hold during the Worker’s Day holiday of Sunday the 30th of April and Monday the 1st of May, 2017.

A statement from the bank explained that the 2-day event will treat attendees to enthralling gastronomic tours across a wide variety of exciting cuisines and delicacies while offering small businesses in the Nigerian food industry a free and vibrant platform to connect with a wider segment

Ogbeh

members of the public: “That Mr. Ahmed Halawi is not and has never been a director of their company. That Mr. Manda Kolathur Kumar is not and has never been a director of their company. That Mr. Mohammed Fayssal is not and has never been director of their company.

That Mr.Krishnan Ramamchandran is not a director of their company having resigned since December 4, 2014.�

(MILLION NAIRA)

DECEMBER 2016 Broad Money (M2)

23,840,392.42

-- Narrow Money (M1)

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

-- Net Domestic Credit (NDC)

26,970,297.97

---- Credit to Government (Net)

4,595,579.89

---- Memo: Credit to Govt. (Net) less FMA

7,436,917.79

---- Memo: Fed. and Mirror Accounts (FMA)

-2,841,337.90

---- Credit to Private Sector (CPS)

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

--Currency in Circulation

2,179,174.28

--Banks Reserves

3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

MANAGED FUNDS Month Inter-Bank Call Rate

December 2016 10.39

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT, MON, 13 MARCH 2017 The price of OPEC basket of thirteen crudes stood at $49.00 a barrel on Monday, compared with $49.81 the previous Friday, according to OPEC Secretariat calculations.The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), 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

T H I S D AY Ëž , MARCH 15, 2017

43

MARKET NEWS

ContinentalRe Grows Profit to N3bn, Declares 14k Dividend Goddy Egene and Nosa Alekhuogie ContinentalReinsurance Plc yesterday announced its financial results for the year ended December 31, 2016, showing improved performance.

The reinsurance firm, grew its profit before and after tax by over 40 per cent and declared a dividend of 14 kobo per share.

However, the bottom-line was bolstered by a significant growth

in foreign exchange gain. An analysis of the results showed that Continental Reinsurance recorded gross premium written of N22.406 billion, up from N19.738 billion, while net insurancepremium stood at N21.843 billion, compared with N18.195 billion in 2015.

Netinsurance benefits and claims were N21.42 billion, up from N16.1 billion in2015.

Butunderwriting profit dipped to N414 million, from N2 billion

T H E MAIN BOARD

DEALS

MARKET PRICE

in 2015. Interest income rose to N1.5 billion, while foreign exchange gain soared from N467 million in 2015 to N4.1 billion in 2015.Impairment costs equally rose from N492 million to N1.788 billion in 2016. In all, the company ended with profit before tax of N4.652 billion, up from N2.916 billion,while profit after tax grew from N2.14 billion to N3.018 billion in 2016.

Following the improve results, the board of the company has

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 DiversiďŹ ed Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. DiversiďŹ ed 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--DiversiďŹ ed CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--DiversiďŹ ed 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

6 6 12

30.00 34.00

19 19 31

recommended for approval and payment to shareholders whose names appear in the register of members on Friday, July 14, 2017 , a dividend of 14 kobo per share. This is higher than the 12 kobo dividend paid in respect of 2015. Meanwhile,the losses recorded at the stock market on Monday were reversed yesterday as the bulls returned, lifting the Nigerian Stock Exchange (NSE)All-Share Index by 0.59 per cent to close

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

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

at 25,284.56. Similarly, the market capitalisation added N51 billion to close at N8.8 trillion.The positive performance was influenced by activities of bargain hunters who swooped on bellwether stocks across sectors. The appreciation recorded in the share prices of GTBank, Nigerian Breweries, Dangote Cement, UBA, and Zenith Bank were mainly responsible for the gain recorded in the Index. The total value of stocks

traded rose by 36.3 per cent from N681.16 million recorded yesterday. The total volume of stocks traded was 227.75 million in 2,543 deals.The three most actively traded stocks were: Diamond Bank (57.64 million), FBNHoldings (32.88mn) and NEM Insurance (25.93 million).

The most actively traded sectors were: Financial Services (188.85 million), Conglomerates (19.48million) and, Oil and Gas (12.30 million).

E XC H A N G E

MAIN BOARD GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC PORTLAND PAINTS & PRODUCTS NIGERIA PLC LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS CO PLC. Packaging/Containers Totals INDUSTRIAL GOODS Totals OIL AND GAS Energy Equipment and Services JAPAUL OIL & MARITIME SERVICES PLC Energy Equipment and Services Totals Integrated Oil and Gas Services OANDO PLC Integrated Oil and Gas Services Totals Petroleum and Petroleum Products Distributors CONOIL PLC ETERNA PLC. FORTE OIL PLC. MOBIL OIL NIG PLC. TOTAL NIGERIA PLC. Petroleum and Petroleum Products Distributors Totals Exploration and Production SEPLAT PETROLEUM DEVELOPMENT COMPANY LTD Exploration and Production Totals OIL AND GAS Totals SERVICES Automobile/Auto Part Retailers R T BRISCOE PLC. Automobile/Auto Part Retailers Totals Courier/Freight/Delivery RED STAR EXPRESS PLC Courier/Freight/Delivery Totals Printing/Publishing LEARN AFRICA PLC Printing/Publishing Totals Transport-Related Services AIRLINE SERVICES AND LOGISTICS PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM CONSUMER GOODS Food Products MCNICHOLS PLC Food Products Totals CONSUMER GOODS Totals ASeM Board Totals Daily Summary (Equities) Activity Summary on Board PREMIUM FINANCIAL SERVICES Banking ZENITH INTERNATIONAL BANK PLC Banking Totals Other Financial Institutions FBN HOLDINGS PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals INDUSTRIAL GOODS Building Materials DANGOTE CEMENT PLC Building Materials Totals INDUSTRIAL GOODS Totals PREMIUM Board Totals Equity Activity Totals

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

551,998 16,020 597,000 1,779,083 1,779,083

13,903,164.18 15,299.40 412,110.00 15,902,796.63 15,902,796.63

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

110,727 40,229 26,700 142,300 299,900 14,373,223 14,993,079

2,707,053.97 362,501.29 992,680.00 1,227,076.00 966,480.00 1,157,057,077.16 1,163,312,868.42

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

1,165,135.50 1,165,135.50 1,164,682,243.92

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

81,125 100,300 20,300 16,295 13,699 231,719

1,505,034.50 182,832.00 6,595,470.00 2,396,080.60 1,959,692.96 12,639,110.06

33 33 189

318.00

389,934 389,934 4,473,488

124,037,602.56 124,037,602.56 149,977,475.67

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

10,001.84 1,001,583.80 1,011,585.64

1 1 43 1,811

1.68

10,000 10,000 923,993 3,428,226,216

16,000.00 16,000.00 1,694,242.54 5,785,390,675.15

2 2 2 2

1.21

270,464 270,464 270,464 270,464

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

WEDNESDAY, ÍŻÍłËœ ͺ͸͚; Ëž T H I S D AY

44

MARKET NEWS

NSE: FGN Savings Bond Will Boost Financial Inclusion Goddy Egene The Federal Government of Nigeria (FGN) Savings Bond, which opened for subscription on Monday, will boost financial inclusion, the Executive Director, Capital Market Division of Nigerian Stock Exchange (NSE), Mr.  Haruna   Jalo-Waziri has said.

The savings bond, which is the first is to be issued by the federal government opened yesterday and will close on Friday. Â To ensure that the offer

reaches the last mile subscribers, the Debt Management Office (DMO) has accredited 87 stockbroking firms of the NSE to distribute the bond. The minimum subscription amount is N5, 000 Â with additions in multiples of N1, 000, subject to a maximum of N50 million.

Commenting on the prospects of the bond, JaloWaziri  said the launch of the bond is consistent with the NSE’s commitment to grow domestic investor participation in the market.

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

 “NSE Retail Bond Market was launched in 2012 with the aim of providing retail investors access to high quality debt instruments, as well as afford them portfolio diversification opportunities in an efficient and reliable way. The Launch of the Federal Government National Savings Bonds is consistent with the NSE’s commitment to grow domestic investor participation in the Nigerian capital market, and it is our pleasure to have worked with the DMO and the dealing member community to

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 13-Mar-2017, unless otherwise stated.

deliver yet another innovative product that will foster financial inclusion in Nigeria. After the offer closes, the bond will be listed on the NSE and can be traded on our Retail Bonds Market. DMO Accredited Distribution Agents and the Government Broker will provide liquidity by continuously making 2-way quotes throughout the trading session,� he said.

According to him, with an estimated population in excess of 150million, if the targeted audience successfully offtake this

product, we shall be seeing yet another paradigm shift where ordinary Nigerians irrespective of their income levels can pool resources to boost government’s effort to  mobilise domestic capital required to fund priority sectors of the economy and ultimately serve as a catalyst for economic growth.   Backed by the full faith and credit of the FGN, the bond, amongst several objectives has the aim of deepening the national savings culture; providing opportunity to

all citizens irrespective of income level to contribute to national development and  enable all citizens participate in and benefit from the favorable returns available in the capital market and more importantly diversify funding sources for the government.

The debut of this savings bond puts Nigeria in the league of sovereigns like Sweden, Thailand, Slovenia, Indonesia, United States, and United Kingdom with savings bonds.

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 aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 126.97 127.41 -0.05% Nigeria International Debt Fund 220.42 221.06 2.39% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.69 0.70 -0.84% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 17.76% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 12.08 12.44 -2.16% ARM Discovery Fund 285.60 294.21 -0.55% ARM Ethical Fund 22.02 22.68 -1.46% ARM Money Market Fund 1.00 1.00 15.83% AXA MANSARD INVESTMENTS LIMITED investmentcare@axamansard.com Web: www.axamansard.com; Tel: +2341-4488482 Fund Name Bid Price Offer Price Yield / T-Rtn AXA Mansard Equity Income Fund 106.38 107.12 1.23% AXA Mansard Money Market Fund 1.00 1.00 17.28% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Nigeria Global Investment Fund 2.21 2.27 1.82% Paramount Equity Fund 9.31 9.55 -0.53% Women's Investment Fund 86.36 88.58 2.09% CORDROS ASSET MANAGEMENT LIMITED assetmgtteam@cordros.com Web: www.cordros.com, Tel: 019036947 Fund Name Bid Price Offer Price Yield / T-Rtn Cordros Money Market Fund 100.00 100.00 17.67% FBN CAPITAL ASSET MANAGEMENT LTD invest@fbnquest.com Web: www.fbnquest.com; Tel: +234-81 0082 0082 Fund Name Bid Price Offer Price Yield / T-Rtn FBN Fixed Income Fund 1,125.43 1,126.58 3.21% FBN Heritage Fund 110.83 111.56 -0.68% FBN Money Market Fund 100.00 100.00 17.27% FBN Nigeria Eurobond (USD) Fund - Institutional $106.94 $107.62 2.77% FBN Nigeria Eurobond (USD) Fund - Retail $106.63 $107.31 3.17% FBN Nigeria Smart Beta Equity Fund 111.29 112.75 -1.23% FIRST CITY ASSET MANAGEMENT LTD fcamhelpdesk@fcmb.com Web: www.fcamltd.com; Tel: +234 1 462 2596 Fund Name Bid Price Offer Price Yield / T-Rtn Legacy Equity Fund 0.94 0.96 1.06% Legacy Short Maturity (NGN) Fund 2.65 2.65 2.93% FSDH ASSET MANAGEMENT LTD coralfunds@fsdhgroup.com Web: www.fsdhaml.com; Tel: 01-270 4884-5; 01-280 9740-1 Fund Name Bid Price Offer Price Yield / T-Rtn Coral Growth Fund 2,182.56 2,207.74 -1.21% Coral Income Fund 2,182.53 2,182.52 3.72% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 17.17% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 16.86% Vantage Balanced Fund 1.69 1.70 0.34% Vantage Guaranteed Income Fund 1.00 1.00 14.87%

LOTUS CAPITAL LTD ďŹ ncon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.01 1.03 2.06% Lotus Halal Fixed Income Fund 1,023.57 1,023.57 2.06% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 9.47 9.55 -2.01% Meristem Money Market Fund 10.00 10.00 14.89% 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 1.08 1.10 2.39% PACAM Fixed Income Fund 10.42 10.46 0.19% PACAM Money Market Fund 10.00 10.00 12.56% 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 110.86 111.69 8.85% 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 1.27 1.27 1.95% 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 1,829.54 1,839.21 -0.11% Stanbic IBTC Bond Fund 154.69 154.69 0.47% Stanbic IBTC Ethical Fund 0.74 0.75 -3.25% Stanbic IBTC Guaranteed Investment Fund 191.63 191.63 2.54% Stanbic IBTC Iman Fund 127.79 129.47 -1.56% Stanbic IBTC Money Market Fund 100.00 100.00 17.61% Stanbic IBTC Nigerian Equity Fund 7,269.35 7,358.39 -4.11% 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 1.16 1.17 11.39% United Capital Bond Fund 1.28 1.28 15.78% United Capital Equity Fund 0.64 0.66 0.71% United Capital Money Market Fund 1.13 1.13 11.45% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 9.73 9.91 1.16% Zenith Ethical Fund 11.11 11.21 1.80% Zenith Income Fund 17.26 17.26 4.48%

REITS NAV Per Share

Yield / T-Rtn

11.41 125.23

1.01% 1.02%

Bid Price

Offer Price

Yield / T-Rtn

7.91 70.97

8.01 72.31

-9.85% -6.34%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva GrifďŹ n 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.42 5.29 11.44 12.57 124.79

2.46 5.37 11.54 12.77 126.79

-11.79% -24.61% -4.59% -21.06% -3.89%

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.

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WEDNESDAY, MARCH 15, 2017˾ T H I S D AY

NEWSXTRA

FG Charges Seven Boko Haram Leaders with Murder, Kidnapping Judge orders them remanded in Kuje Prison Tobi Soniyi ÓØ ÌßÔË A Federal High Court in Abuja yesterday ordered seven suspected Boko Haram leaders, who were allegedly involved in the kidnap and murder of 11 foreign nationals between

2011 and 2013 in the North to be remanded at Kuje Prison pending their trial.

The federal government had filed an 11-count charge against the seven suspected leaders of the outlawed Boko Haram sect, They however, all pleaded

Okowa, Obaseki, Others Receive Ogbemudia’s Remains in Benin Adibe Emenyonu ÓØ ÏØÓØ ÓÞã The remains of a two-time Governor of the defunct Midwestern and Bendel State, Dr. Samuel Osaigbovo Ogbemudia, arrived in Benin-City airport, Edo State capital, and was received by the Governors of Delta and Edo States, Dr. Ifeanyi Okowa and Godwin Obaseki respectively.

Others who were on ground to receive the corpse of the former military general, politician and sports administrator are the 4 Brigade Commander, BeninCity, his counterpart from the Air Tactical Command, Benin-city, the Edo State Commissioner of Police among other government functionaries from the two states.

The remains of Ogbemudia was flown in from Lagos to Benin-City and arrived at the airport at about 1.22p.m. by a Nigerian Air Force plane marked NAF-029 in company of his widow, Mrs. Yetunde Ogbemudia, officials of Nigerian Army and Air Force.

Members of the Nigeria Security and Civil Defence Corps (NSCDC) and Department of State Security (DSS) were on

hand to ensure adequate security.

Thereafter, the two governors handed the corpse over to the family of the deceased led by his eldest son, Sam Ogbemudia Jr., before it was driven to his country home at Iheya Street off New Lagos Road, Benin-City.

Speaking at the airport, Obaseki recalled that his last moment with the late Ogbemudia was when he paid him a private visit shortly after he won the 2016 governorship election.

According to him, “I went for a visit and he talked to me from time to time; he admonished me in private and public and assured me of his support. I cannot forget the encouragement he gave me, and without his open and clear endorsement my campaign would have been difficult.”

Also speaking, Okowa said the last time he saw Ogbemudia was at a public lecture during his birthday in 2014, adding that it was quite an interesting moment.

He described the late Ogbemudia as an elder statesman and a model to politicians because of the modest life style he lived.

Indicted INEC Staff Oppose Trial in Abuja, Prefer Rivers State Tobi Soniyi ÓØ ÌßÔË Twenty-three staff of the Independent National Electoral Commission (INEC) yesterday opposed the bid by the federal government to put them on trial before a Federal High Court in Abuja.

The workers were alleged to have accepted bribery of N360 million from politicians during the last National Assembly re-run elections in Rivers State.

The INEC staff were brought to court under a tight security provided by various security agencies and they were billed to be arraigned on a seven-count criminal charge bordering on conspiracy contrary to Section 18 (a) of the Money Laundering (Prohibition) Act 2011 and Punishable under Section 15 of the Act. However, shortly after the case was called, their various counsel led by Ahmed Raji (SAN), informed Justice John Tsoho, that the defendants have filed a motion, challenging the territorial jurisdiction of the case in Abuja.

The defendants, through their lawyers, claimed that any attempt to subject them to trial in Abuja would be unfair and would prejudice them, since the alleged offence was said to have been committed in Rivers State.

The court therefore adjourned till April 7, for hearing on applications filed by the defendants.

The federal government had filed a seven-count charge against the 23 INEC staff for allegedly accepting bribe from politicians.

Those charged include Shittu Mohammed Lamino, Henry Nwokorie, Peter Ewetade, Mary Jummai Tunkoyo Pennap, Gwatana Jibril, Ivase Stephen, Abdullahi Ogabo, Gayus Hassan, Hussain T. Yahaya.

Others are James Ogwuche, Karimu F. Aminu, Adedokun Najeem Ayotunde, Balogun Funmilayo, Adams O. Kadiri, Akinwande R. Adesoji, Lukeman Olabimpe, Tiamiyu R. Arowolo, Akinwoye Amodu, Nwoha Yusuf, Patrick Anuke, Iro Abau, Nwosu. G. Oluchi and Arukwe Chinelo.

not guilty when the charges were read to them.

The suspects, who were arraigned yesterday before Justice John Tsoho are: Mohammed Usman (aka Khalid Albarnawi), described as the leader of a Boko Haram splinter group, Jama’atu Ansarul Muslimina Fi Biladis Sudan (a.k.a ANSARU); Mohammed Bashir Saleh, Umar Bello (aka Abu Azzan); Mohammed Salisu (Datti); Yakubu Nuhu (aka Bello Maishayi), Usman Abubakar (Mugiratu) and a lady, Halima Aliyu.

The defendants, said to be leaders of Boko Haram before establishing their own faction, are charged with conspiracy, hostage taking, supporting a terrorist group, membership of a terrorist group, illegal possession of firearms and concealing information on terrorism.

They are also charged with

conspiracy to commit terrorism, contrary to Section 17 of the Terrorism (Prevention) Act 2011, as amended in 2013, and punishable under same.

The defendants are accused of murdering, “Internationally Protected Persons (IPPs),” contrary to Section (3) (a) of Terrorism (Prevention) Act 2011 as amended in 2013 and punishable under same.

According to the charge filed by the office of the Attorney General of the Federation (AGF), the defendants, on February 2013 at Ikirima Boko Haram Camp in Sambisa Forest, allegedly “murdered seven internationally protected persons – Carlos Bou Azziz, Brendan Vaughan, Silvano Trevisan, Konstantinos Karras, Ghaida Yaser Sa’ad (F), Julio Ibrahim El-Khouli and Imad El-Andari – and buried the bodies in a shallow grave.

They were charged in count

four with hostage-taking, contrary to Section 15(c) of the Terrorism (Prevention) Act 2011, as amended in 2013, and punishable under same.

The defendants were alleged to have on February 18, 2013, at Life Camp Yard of SETRACO Construction Company in Jama’are, Bauchi State, “did knowingly seize and continue to detain” the seven expatriates, “at Ikirima Boko Haram camp in Sambisa Forest for about 10 days before their eventual murder.”

The seven defendants were equally accused of being in possession of firearms without licence, punishable under Section 27 (1) (a) (1) of the firearms Act Cap F28 LFN 2004.

The prosecution said firearms were recovered from Usman’s house at Rafin Guza, NDC layout, Kaduna State, sometime last year.

After the defendants pleaded not guilty to the charges preferred against them, the prosecution counsel, Shuaibu Labaran prayed the court for a date to commence the trial of the defendants and that the court should allow them remain in the custody of the Department of State Services (DSS) pending the completion of their trial.

The trial judge, in a short ruling said the federal government has all the machinery to ensure the security of the citizens, adding that the court would not compromise the personal liberty.

According to him, once an arraignment is made, the official custody of a defendant is the prison and consequently ordered that the defendants be remanded at the Kuje prison in Abuja.

The court then adjourned the matter till April 11, 2017 to commence trial.

UBA TOUR OF GHANA

Chairman, UBA Group and Founder, The Tony Elumelu Foundation, Mr. Tony Elumelu; President of Ghana, Mr. Nana Akufo-Addo; and Managing Director/CEO, UBA Ghana, Mrs. Abiola Bawuah, when Elumelu visted the president in Accra during UBA Tour in Accra, Ghana....Monday

Finally, Senate Sets Date to Screen Magu Buhari’s resumption letter read at plenary Damilola Oyedele ÓØ ÌßÔË˿ The Senate is finally set to screen the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, for confirmation as the substantive head of the anti-graft agency.

Senate President, Bukola Saraki, yesterday announced that the screening would hold today by 11.30a.m. during plenary.

Previous attempt to screen and confirm Magu had suffered several setbacks in the upper legislative chamber, even though he has been functioning in an acting capacity since 2015.

The letter seeking his confirmation was first transmitted to the Senate by Vice-President Yemi Osinbajo in his capacity as acting president on June 17, 2016.

It was however, not read on the floor of the Senate until July 14, 2016 by the Senate President.

After dilly-dallying for several months, the Senate, in December

2016, declined to confirm him on the basis of a damning security report from the Department of State Services (DSS), which indicted Magu of corruption and accused him of sabotage and leading double lives.

The development caused the Senate to request that Buhari should forward the name of a fresh nominee as chairman of the EFCC. The report had noted that Magu lives a flamboyant life, above his means, living in an apartment paid for by a ‘questionable businessman’, Commodore Umar Mohammed, who also furnished the apartment at the cost of N43 million.

He was also accused of proceeding on official and private trips in a private carrier, Easy Jet, owned by Mohammed, and on one of such trips, had flown to Maiduguri with Mohammed and the Managing Director of a bank who was being investigated by the EFCC over complicity in funds

allegedly lodged with the bank by the former Minister of Petroleum, Mrs. Diezani Alison-Madueke.

The DSS also accused Magu of cultivating the habit of flying first class against the directive of the president, adding that he had once flown first class to Saudi Arabia to perform the lesser hajj at the cost of N2.9 million.

The report also alleged that the DSS discovered a number of official documents which Magu had made available to Mohammed when it searched the latter’s house. One of such letters was said to have been forged from the Office of the Vice-President containing the report of a fictitious investigation

by Vice-President Yemi Osinbajo to the president requesting for approval to commence a probe into a matter claimed to have involved the Minister of State for Petroleum, Dr. Ibe Kachikwu and his brother, Dumebi.

Following the Senate’s rejection of his nomination and

indictment, the president directed the Attorney-General of the Federation and Minister of Justice, Mr. Abubakar Malami (SAN), to investigate the allegations against Magu.

President Muhammadu Buhari in a letter dated January 22, 2017, to the Senate, had however re-nominated Magu, seeking his confirmation, as he had been cleared of wrongdoing.

Earlier at the plenary, the Senate President read the letter written by President Buhari, to formally notify of his resumption.

“In compliance with Section 145 of the 1999 Constitution (as amended), I write to intimate the Senate that I have resumed my functions as the President of the Federal Republic of Nigeria with effect from Monday 13th March, 2017, after my vacation.

Please accept the assurances of my highest consideration,” it read.

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Voter Registration, PVC Distribution Begins in April for 2019 Polls New political associations hit 86 Onyebuchi Ezigbo ÓØ ÌßÔË The Independent National Electoral Commission (INEC) has said it would kick-start preparations for the 2019 general election with the continuous voters’ registration and distribution of Permanent Voters’ Cards (PVCs) in April.

Also the commission gave an update on the growing number of political associations seeking registration as political parties ahead of the 2019 general election, saying it has now reached 85.

In a communique issued after the quarterly meeting with leaders of political parties held at INEC headquarters in Abuja, yesterday the parties endorsed the 2019 general election timetable and agreed to cooperate with the commission in all the processes leading to the smooth conduct of the election.

The communique was jointly signed by the Deputy Chairman of the Inter Party Advisory Council (IPAC), Dr. Bredforth Onwubuya, for other political parties and a National Commissioner, May Agbamuche-Mbu, on behalf of INEC. Earlier, while speaking during the opening ceremony of the quarterly meeting, the Chairman of INEC, Prof. Mahmood Yakubu, said as at last Monday, the number of applications from new associations for registration as political parties had reached 86.

INEC had last Thursday put the figure of the associations seeking registration at 84.

Yakubu also said the 10 political parties which were previously de-registered by the commission after the 2015

general election, had regained their registration.

The political parties, according to him, are Better Nigeria Peoples Parties (BNPP), Peoples Redemption Party (PRP), Peoples Progressives Party (PPP), Democratic Alternative (DA), National Action Council (NAC) And National Democratic Liberty Party (NDLP).

Others are Masses Movement of Nigeria (MMN), National Conscience Party (NCP), Nigeria Element Progressives Party (NEPP) and the National Unity Party (NUP).

The INEC boss who described political parties as an important vehicle for the sustenance of the country’s democracy, urged the party leaders to always have confidence the electoral system as a way of promoting stability in the polity.

“The names of these political parties have already been uploaded on our website. But I will like to appeal to those of them, out of the 10 that are yet to open their offices to do so and immediately notify the commission,’’ Yakubu said.

In his remark the IPAC Chairman, Mohammed Nalado, expressed displeasure over the inability of INEC to consult properly with political parties before fixing dates for the 2019 general election .

Nalado said though INEC chairman informed them of the decision but they did not know weather the information he gave them was official or not until they read the report on the pages of newspapers.

“We had meeting with INEC chairman, unfortunately, we did not understand him weather he was telling us officially or he was just giving us information on how our elections should

$15.8bn from NNPC Not in Govt Coffers, Says NEITI The Nigeria Extractive Industries Transparency Initiative (NEITI) has said Nigerian National Petroleum Corporation (NNPC) is yet to remit N15.8 billion collected from Nigeria Liquefied Natural Gas (LNG) to the Federation Account, in spite of the report submitted to the federal government.

The Director Legal, NEITI, Mr. Peter Ogbobine, told the News Agency of Nigeria (NAN) in Abuja yesterday that the figure was the accumulation from 2000 to 2014.

He observed that although NEITI had presented a report to that effect to the federal government, no action had been taken against NNPC. “When LNG started operating, it paid dividend to the NNPC but the corporation was claiming that it was supposed to be the owner of the shares in LNG and not the federal government.

“When the LNG pays the

money to the NNPC, it used some of it to run its operations.

“But we are saying no; that this money, once it is paid to them by LNG, it should go straight to the Federation Account, and it has been accumulating over the years.

“We always bring it to the burner anywhere we go that this money has to be remitted to the federation account,’’ Ogbobine said.

The director, however, called on the federal government to compel NNPC to remit the amount into the federation account for the benefit of all Nigerians.

NEITI is set to establish an Open Contracting Data Standard platform for procurement of goods and services, especially in the oil and gas sector.

The initiative also ensures transparency in procurement process through the whole value chain of extractive sector, down to exploration, mining, revenue generated and how it is spent.

be done.I hope this issue will be discussed thoroughly here,” Nalado said.

He affirmed IPAC’s commitment to work with INEC in deepening the country’s democracy.

Nalado, however, advised INEC to seek alternative to deregistration of political parties.

He also urged the commission newly appointed National Commissioners to make their relevant inputs to the development of the electoral system.

The National Chairman of the United Democratic Party (UDP), Mr. Godson Okoye, in an interview with journalism said it was a disrespect for INEC to fixed date for elections without consulting political parties.

The crisis-ridden main opposition party, the People Democratic Party (PDP), was represented at the meeting by Senator Ali Modu Sheriff who sent his Deputy National Chairman, Dr. Cairo Ojougboh, and PDP National Secretary, Prof. Wale Oladipo, to stand-in for the party.

Among the issues discussed at the meeting were the proposed INEC’s strategic plan for 20172021, impact of court judgments on the roles of political parties, violence in the conduct of party primaries and elections in general.

Others are internal party democracy, political parties and campaign finance nationwide continuous voters registration, outstanding Anambra Central senatorial rerun election. There

was also a brief presentation on INEC new innovations .

On the outstanding Anambra Central senatorial rerun election, IPAC according to Breakforth, has urged INEC to liaise with concerned political parties to resolve ongoing litigation for the conduct of the election. ``In view of the recent Supreme Court judgment on the election, it was agreed that INEC shall work with the political parties that have cases in the lower court to find amicable ways to resolve all going litigations out of court.

This is to enable the commission conduct the outstanding election in the senatorial district. INEC shall engage with the parties involved based on this principle,’’

he said.

The Director of Voter Education and Publicity in INEC, Mr Oluwole Osase-Uzzi, who also spoke at the end of the meeting, said the commission had accepted to exploit an out-of-court settlement in disputed the Anambra Central senatorial election.

“INEC is prepare to conduct the election as soon as all legal impediments are removed,’’ Osase-Uzzi added.

On what would happen to the announced dates for the 2019 general election if the ongoing Electoral Act amendments was concluded before the election, Osase-Uzzi said the commission was working with the current law.

ANOTHER HONOUR FOR ATIKU

Former Vice President, Alhaji Atiku Abubakar (second left) in warm hand shake with the Pro-Chancellor of the Federal University of Petroleum Recources (FUPRE), Senator Nimi Barigha-Amange, (right), while the Vice-Chancellor of the institution, Prof. Akii Ibhadode watch shortly after conferring Honorary Doctorate of Science degree on the former vice-president during the university’s convocation in Warri, Delta State...yesterday

Udoma Solicits N’Assembly Support for Economic Recovery Plan Ndubuisi Francis ÓØ ÌßÔË

released by the Media Adviser to the minister, Akpandem James, The support of the National Udoma said the parliament has Assembly is very critical to the a very important role to play in successful implementation of the the successful implementation Economic Recovery and Growth of the ERGP, adding that the Plan (ERGP), the Minister of achievement of the broad Budget and National Planning, objectives will largely depend Senator Udoma Udo Udoma, on the execution of projects which are contained in budgets has said. “for which we have to The minister stated this when members of the House work closely with the National of Representatives Tactical Assembly to secure your Committee on Recession support.”

He pointed out that some visited the ministry yesterday to further discuss ways of aspects of the plan are already speedily getting the economy reflected in the 2017 budget out of recession and reducing and that the plan is basically an the economic hardship on exposure of what government the people, which are some had already started doing of the core mandates of the since inception. “This plan puts together all the things committee.

He explained that the that we have been doing, economic plan released last including the strategies we week by the federal government have already developed and has a dual purpose of getting launched; which is why you the economy out of recession are already seeing progress in and taking the country to the agriculture and other areas.

“We have exited cash alls in path of sustainable and inclusive our Joint Venture relationships growth.

According to a statement in the oil sector, which decision

was announced last year; it is all part of the plan, so that funding of the joint ventures will no longer be a constraint, which is why in the plan also, we are targeting 2.5mbpd production of crude oil by 2020,” he said.

Explaining why there is still focus on crude oil even when government is laying emphasis on diversification into the non-oil sector, the minister said the economy would continue to rely on oil in the short term.

The development of agriculture and its value chain as well as manufacturing and its support infrastructure, he explained, were areas that government is focusing on, to build a solid foundation for a sustainable and competitive economy for the future.

Udoma noted that Nigerians are very resourceful and the private sector has the capacity to reverse the fortunes of the country if the right policies and the right structures are in place.

“What Nigerians need is for government to create an enabling environment and we are determined to do just that,” the minister said.

While pointing out that the ERGP is an inclusive national plan developed after extensive consultations, the minister said those with good ideas on how to further enrich government strategies should pass them on as government is very receptive to ideas.

The minister told the committee members that the executive will work closely with the Legislature on the implementation of the ERGP. Responding, Chairman of the Tactical Committee, Hon. Ayorinde Olabode, said the committee and the ministry could work together, since its focus is to achieve results in the five mandate areas given to the Committee by the House, within the four months period that it has to report back.

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Xenophobic Attacks: Nigeria Chose the Path of Diplomacy, Says Onyeama Alex Enumah ÓØ ÜÏÞÙÜÓË The Minister of Foreign Affairs, Geoffrey Onyeama, has said Nigerian had a lot of options before her in response to the recent xenophobic attacks against foreign nationals living in South Africa including Nigerians who were the major victims of the attacks.

Onyeama, who was speaking against the backdrop of allegations that Nigerian had been weak in responding to the crisis, maintained that the government went for the option of dialogue because it was firmly convinced that it was the best part to toe under the circumstances and that there were reasonable grounds to believe that the crisis was not sponsored by the South African government.

He spoke yesterday at a meeting of representatives of Nigerian professionals and residents in South Africa and officials of the Nigerian High Commission in South Africa held at the Nigerian High Commission

in Pretoria, South Africa.

The meeting which had in attendance, the Minister of Interior, General Abdulrahman Dambazzau, was aimed at intimating them of the outcome of bilateral meeting between Nigeria and South Africa and also afforded Nigerians in South Africa to relay their experiences to the visiting ministers.

He said: “When this issue came up, we look at the options before us, we could have considered war, we could have recalled our ambassador, we could have nationalised South African companies in Nigeria, we could have even asked Nigerians in South Africa to come back home, and we also had the option of dialogue.

“But we opted for the last, which is to engage them in discussions to find a lasting solution to the problem. It may not be the right decision but I believe it could be a win-win situation. I do not believe the South African Government is

xenophobic or even the large number of South African, so I believe we can achieve a win-win situation here.”

Onyeama, who recalled the various moves the Nigerian government made which eventually made the South African government committed to the enthronement of peace as well as the safety of Nigerians and their businesses, also assured that the issue of compensation was not foreclosed, as the government has put hte machinery in place within the Early Warning Unit mechanism that would guarantee the payment of compensation by the South African government.

He called on all Nigerians who had suffered one loss or the other due to xenophobia before and in the recent attacks to get all their documents right and

hand them over to the president of the Nigerian Union in South Africa, Mr. Ikechukwu Anyene who is a member of the Early Warning Unit for collation.

“What we have achieved with this meeting is great. Our proposal was accepted. The Nigerian Union with South African government will now sit together to address issues of common interest. That is unique and you hardly find that anywhere.

“They agreed to that because we engaged them. That is a concrete result which we could not have achieved if we had gone to the media,” he stated.

Onyeama, however, admonished officials of the Nigeria High Commission in South Africa to give maximum support to Nigerians based in South Africa, adding that by so

doing, it will dispel the notion that the government was not concerned about their plight.

He also assured them of the current efforts of the Muhammadu Buhari administration to revive and restructure Nigeria’s economy to tackle some of the unbearable situations that has compelled them to seek for greener pastures outside Nigeria, even at the risk of their own lives.

“What you have gone through is a tragedy and we feel it just as you do. We are in great pain in our country and that was why we are here,” he said, “We have a serious economic challenge, and we are working towards it.

“We are trying to make a difference, you are our priority and we are not going to let go until we see to the security

of your lives, properties and businesses,” he added.

Also speaking, Dambazzau while reacting to calls for reprisals against South African businesses in Nigeria, noted that Nigerians would bear the brunt of any attacks on businesses, as the majority of South African companies in Nigeria are substantially owned

by Nigerians and provide large employment for Nigerians.

He however advised them to be law abiding, engage in legitimate businesses and pursue peace with their host country, assuring that most of their complaints had been tabled with the Minister of Homes Affairs, who has promised to invite him back to South Africa on a later date to address issues relating to migration and alleged police high handedness particularly against Nigerians.

Oil Prices Fall to Three Months Low as OPEC Reports Rise in Output Ejiofor Alike áÓÞÒ ËÑÏØÍã ÜÏÚÙÜÞÝ Oil prices hit three-month low yesterday after the Organisation of Petroleum Exporting Countries (OPEC) reported a rise in global crude stocks and a surprise jump in production from its biggest member, Saudi Arabia, that came despite output curbs by the group.

In its monthly Oil Market Report (OMR), the cartel said oil inventories had risen despite a global deal to cut supply and raised its forecast of production in 2017 from outside the group.

OPEC, however, said its production, including Nigeria and Libya, fell by 140,000 bpd in February to 31.96 million bpd, led by a large Saudi cut.

The group said in the report that its biggest producer, Saudi Arabia, increased output in February by 263,000 barrels per day to 10 million bpd, after it had in January made a larger cut than required by the OPEC accord to ensure strong initial compliance.

OPEC is curbing its output by about 1.2 million barrels per day (bpd) from Jan. 1, the first reduction in eight years.

Russia and 10 other non-OPEC producers agreed to cut half as much.

Despite the cuts, Reuters reported yesterday that Brent futures, which fell below their 200-day moving average for the first time since late November, were down 89 cents, or 1.7 per cent, at $50.46 a barrel.

US West Texas Intermediate crude was also down $1.08, or 2.2 per cent, to $47.32 per barrel.

It was on track for its seventh straight daily decline, which would be its longest such streak since January 2016.

OPEC said in the report

that oil stocks in industrialised nations rose in January to stand 278 million barrels above the five-year average, of which the surplus in crude was 209 million barrels and the rest refined products.

“Despite the supply adjustment, stocks have continued to rise, not just in the US, but also in Europe,” OPEC said.

“Nevertheless, prices have undoubtedly been provided a floor by the production accords,” the group added.

Oil prices fell after the release of the report to their lowest since November.

However, crude is still up from about $40 a barrel a year ago and a 12-year low near $27 reached in January 2016.

In the report, OPEC pointed to an increase in its members’ compliance with the deal, according to figures from secondary sources that OPEC uses to monitor output.

Supply from the 11 OPEC members with production targets under the accord - all except Libya and Nigeria - fell to 29.681 million bpd last month, according to these figures.

That means OPEC has complied by more than 100 per cent with its plan to lower output for those nations to 29.804 million bpd, according to a Reuters calculation. OPEC gave no compliance figure in the report.

But the report revised up its estimate of oil supply from producers outside OPEC this year, as higher oil prices following the supply cut helped spur a revival in US shale drilling.

Production outside OPEC is now expected to rise by 400,000 bpd, 160,000 more than previously thought. US oil output in 2017 was revised up by 100,000 bpd.

BUSINESS SIDE OF ENTERTAINMENT

L-R: Managing Director/CEO, Fidelity Bank Plc, Nnamdi Okonkwo; Founder, LEAP Africa and Co-Founder of AACE Foods, Ndidi Nwuneli -Okonkwo; Ace Comedian, Ali Baba, at the Fidelity SME Forum on Radio, where Ali Baba shared insights on the Nigerian entertainment industry and the strategies to building a sustainable business in Lagos....yesterday

PDP Crisis: Dickson Replies Makarfi, Says Lies will Further Deplete Party Emmanuel Addeh ÓØ ÏØËÑÙË Speaking for the first time since the submission of his report to the National Executive Committee (NEC) of the Peoples Democratic Party (PDP), the Governor of Bayelsa State and Chairman of the National Reconciliation Committee, Governor Seriake Dickson of Bayelsa State, yesterday said many of the comments trailing the report were lies and propaganda.

The governor urged Senator Ahmed Makarfi and others who have taken exception to the contents of the report to sheathe their swords and work towards surmounting the current challenges bedevilling the party.

Among other allegations, Makarfi had accused Dickson of dropping the proposal drafted at a meeting of the 11 PDP governors with former President Goodluck Jonathan and coming up with a personal one which he submitted to Senator Ali Modu Sheriff’s group.

But in a statement by his Chief Press Secretary, Mr. Daniel Iworiso-Markson, Dickson maintained that rather

than embark on name-calling, propaganda and outright lies, it was high time the party came together in the interest of peace.

He posited that he had always been opposed to Sheriff’s leadership of the PDP, maintaining that the recent pronouncements by the courts entailed that the party adheres to the rule of law.

Dickson stressed that despite the sacrifices made by him and members of the body he heads, it was unfortunate that some persons within the party, were making “uncharitable comments” on the report meant to salvage the party.

The governor called on everyone who has any idea as to how to take the party out of the current crisis to proffer their own solutions, instead of seeking to pull down the little gains that have been made by the committee.

“In my usual character, I am not disposed to joining issues with anyone or group especially on a matter that I think can be settled internally. More so, when some of the key actors are not sincerely committed to bringing an end to the festering crisis

that has set us back as a party.

“But first, let me state in clear terms that the ongoing blame game, name-calling and propaganda will not in any way help us. Rather, we are by such actions de-marketing ourselves and playing into the hands of the All Progressive Congress (APC) which appears to be the major beneficiary of the crisis rocking our party.

“What we should be doing now is to look for an amicable solution to come out of where we are, rally round ourselves and form a bond like never before since INEC had released the timetable for the 2019 general election,” the governor said He added: “Secondly, everyone especially in the PDP governors forum can testify that I never supported Senator Ali Modu Sheriff as national chairman. I strongly canvassed against his choice because he was new to our party.

“I felt that we needed a fresh face for a new beginning. But as a democrat I believe in the plurality of opinions which made me to tag along.

“Now with the Appeal Court judgment affirming him as the

national chairman, it is only legal and strategic for all leaders of the party to engage him on a template such as what we have proposed.

According to the head of the PDP reconciliation committee, the national body was convinced that holding a national unity convention would finally put an end to the hydra-headed crisis that has rocked the party since its defeat in 2015.

However, Dickson said all its recommendations were not meant to be taken hook, line and sinker, noting that they could be adjusted if need be.

Finally, Dickson urged all party leaders not to allow their ego take the better of them and called on them to drown their differences for the sake of the party and its supporters.

“Let the blame give way.

Let egos and all form of utterances cease. Let all ambitions be put on hold.

“Let all leaders now begin to brainstorm and find the best ways of resolving the dispute to save the party from further depletion and disintegration,” he said.

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EFCC Tenders List of Beneficiaries of Slush Funds Allegedly Deposited by Alison-Madueke in Court Davidson Iriekpen A Federal High Court Lagos has fixed March 23 to rule on the admissibility of a list of beneficiaries of funds, in the ongoing trial of a Senior Advocate of Nigeria, Dele Belgore, charged with money laundering.

Belgore is standing trial alongside a former Minister of National Planning, Prof.

Abubakar Sulaiman and a former Minister of Petroleum Resources, Diezani AlisonMadueke, who is said to be at large.

They were first arraigned in February, but were subsequently re-arraigned on March 13, following the amendment of the charges to include the name of Alison-Madueke.

They had pleaded not guilty to the charges and were allowed to continue on their earlier bail terms.

At the last adjourned date, a first prosecution witness, Mr. Timothy Olaobaju, was led in

evidence by the prosecutor, Mr Rotimi Oyedepo.

He had told the court that Belgore and Sulaiman were among the beneficiaries of the sum of $115 million deposited in the account of Alison-Madueke.

The former petroleum minister has since denied any link to the said amount.

The witness told the court that Belgore and Sulaiman jointly received N450million on March 27, 2015.

When trial resumed yesterday, the prosecution sought to tender in evidence a document containing a comprehensive list of beneficiaries of the funds in the 36 states of the federation.

This move by prosecution was however, opposed by Sulaiman’s counsel, Mr. Olatunji Ayanlaja (SAN), who argued that the document did not comply with the provisions of Section 84 of the Evidence Act. He urged the court to reject same.

In response, the prosecution maintained that the document

had substantially satisfied the conditions spelt out in Section 84 of the Evidence Act and urged the court to admit it.

After entertaining arguments from both parties, Justice Aikawa deferred his ruling till March 23.

Meanwhile, the defence counsel commenced cross-examination of the first prosecution witness.

Under cross-examination by Belgore’s lawyer, Chief Ebun Shofunde (SAN), the witness said the N450million received

by Belgore and Sulaiman was brought in a bullion van from the Central Bank of Nigeria (CBN).

On the denomination of the currencies, the witness replied: “I can’t remember vividly but

I remember there were N1,000 and N500 bills.”

He said the money was offloaded from the bullion van into the bank’s loading bay where it was manually counted.

When Shofunde suggested to him that it took two days to count the money, the witness disagreed, saying as a professional banker “I can count one billion naira in 20 minutes.”

The witness said although the bank was ready to deliver the money to Belgore and Sulaiman on March 26, 2015 when it arrived from the CBN, the process was delayed by the

failure of Sulaiman to release his identification card.

He added that the transaction was captured on the CCTV camera mounted in the bank.

When Shofunde said: “I suggest to you that none of the defendants collected one kobo out of the N450 million,” the witness answered: “That is not true.”

When Shofunde suggested to him that it was different individuals that came to the bank on March 27, 2015 to sign and collect portions of the N450million, the witness also retorted: “That is not true.”

In the charge, Sulaiman, a professor of Political Science

and International Relations at the University of Abuja, and Belgore, a former governorship aspirant in Kwara State, were accused of conspiracy to commit the offence on March 27, 2015.

The duo were accused of making a cash transaction of N450 million on March 27, 2015, without going through any financial institution.

The EFCC claimed that the accused paid N50million to one Sheriff Shagaya.

The EFCC said the cash sum was above the lawful threshold permitted by the Money Laundering (Prohibition) Act. The court will again resume proceedings on March 23.

Sino-Nigeria Trade Volume Hits $13bn Ekweremadu wants better welfare for Nigerians in Chinese firms Damilola Oyedele ÓØ ÌßÔË The trade volume between Nigeria and China for the year 2016 has been put at an estimated $13 billion, with activities in various sectors of Nigeria’s economy.

This is as the Deputy Senate President, Senator Ike Ekweremadu, called for better working standards and conditions for Nigerians working in Chinese firms in Nigeria, following allegations of maltreatment of local staff by their Chinese employees.

Ekweremadu while receiving the Deputy Ambassador of the People’s Republic of China to Nigeria, Mr. Jin Ping, on a courtesy visit yesterday, also noted that there have been reports of illegal mining by Chinese nationals in Nigeria.

Details of the meeting were made available in a statement

by Ekweremadu’s Special Adviser (Media), Mr. Uche Anichukwu.

“We have received reports of discrimination and mistreatment of our citizens working in Chinese factories in Nigeria. We want to see more of Chinese factories and presence in Nigeria to help us reload the private sector. But, we also want to see Nigerians who work in Chinese factories treated like their Chinese colleagues. We welcome you with open hands and we expect you to also

treat our people well, like your people,” Ekweremadu said.

“We will also like to see that Chinese who do business here do it in accordance with our laws. We have heard reports of some Chinese who allegedly engage in illegal mining. Nigeria is blessed with abundant mineral resources and I am sure the government is ever willing to cooperate with lawful interests through licensing for the exploitation of these mineral in compliance with our laws,” Ekweremadu added.

The Deputy Senate President expressed appreciation to the China for its support towards Nigeria’s infrastructural development sectors such as roads, railway, agriculture, and power.

Jing, speaking earlier, called for the strengthening of already existing bilateral and multilateral ties between both countries.

China, Jing said, would continue to demonstrate its commitment to Nigeria’s development. He cited investments in various sectors to include $1.3 billion LagosIbadan Railway Project, $326 million 30 rice mills projects slated for various parts of the country, the China EXIM Bank funded $984 Zungeru Hydro-Electricity Project and $450 million loan for the construction of Keffi Road.

BUSINESS SUCCESS

L-R: Founding Partners of CardinalStone, Mohammed Garuba; Femi Ogunjimi; Michael Nzewi; Yomi Jemibewon, at the CardinalStone 2017 annual general meeting cocktail in Lagos...yesterday

Social Intervention Programme: FG Pays N30,000 to 150,000 Graduates Omololu Ogunmade ÓØ ÌßÔË The federal government said last night that it had been paying N30,000 to no fewer than 149, 669 of the 200,000 graduates engaged under the N-Power Volunteer Corps scheme every month across the 36 states of the federation and Federal Capital Territory (FCT).

According to a statement

by Vice President President Yemi Osinbajo’s media aide, Laolu Akande, the scheme is part and parcel of the federal

government’s social intervention programme.

According to the statement, the federal government has also approved an additional N4,500 stipends for 200,000 N-Power beneficiaries of the scheme for the purchase of an electronic device which would be loaded with different applications to enhance the skills of the beneficiaries.

“This device grant is in conjunction with the Bank of Industry (BoI) which has extended an asset finance of 20

months to each of the 200,000 N-Power beneficiaries.

“While each of the beneficiaries after being verified would select their choice of device among nine different BoI pre-approved vendors, the price ranges from N3,000 to N6,700 monthly deductions for the next 20 months.

“Therefore, in some cases, the N4,500 device grant would cover the full monthly deduction cost while in other cases, the graduate authorises BoI to deduct the additional differential cost

from their monthly stipends depending on the device chosen,” the statement added.

The statement further disclosed that in December, about 112,475 of the N-Power graduate beneficiaries received the N30,000 monthly stipends while the number rose to almost 150,000 in January and February adding that the remaining 50,000 of the 200,000 proposed beneficiaries are those who so far could not be paid for various reasons.

EFCC Arrests Turner, Jonathan’s Ally over Alleged N2bn NDDC Fund Jaul Obi ÓØ ÌßÔË The Economic and Financial Crimes Commission (EFCC) yesterday said it had arrested Mr. George Turner, an ally to former President Goodluck Jonathan over alleged diversion of N2 billion belonging to the Niger Delta Development

Commission (NDDC) fund.

Turner was also Special Adviser to former NDDC Managing Director, Dan Abia during the Jonathan’s administration.

According to EFCC’s Head of Media and Information, Wilson Uwujaren, “preliminary investigations by the EFCC threw up deposits

made in his personal and company bank accounts in excess of N2billion.

“A search conducted in his houses in Port Harcourt and Yenogoa, yielded useful documents,” Uwujaren said.

The commission further stated that Turner was cooperating with the EFCC by making vital

statements with regards to the ongoing investigation.

Turner was arrested in Port Harcourt, the Rivers State capital, and he his believed to have a party to the diversion of the said N2 billion at NDDC when he was a Special Adviser then.

T H I S D AY ˾ WEDNESDAY, MARCH 15, 2017

71

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

CA F E L E CT I O N S

Nigerian Delegation Arrives Addis Ababa to Drum Support for Pinnick Duro Ikhazuagbe in Addis Ababa Nigeria’s delegation to the 39th General Assembly of the Confederation of African Football (CAF), touched down here in Addis Ababa, Ethiopia yesterday.

Chairman of Senate Committee on Sports, Senator Obinna Ogba, who flew in along with some Nigeria Football Federation (NFF) officials from Kaduna Airport is the most senior government official in the Ethiopian capital so far to drum support for NFF President, Amaju Pinnick, who is gunning for a seat on the CAF Executive Committee.

Already, Addis Ababa is buzzing with activities concerning the CAF Congress as most hotels are fully booked with guests from all CAF’s 54-member federations.

Contrary to speculations in the media yesterday that Pinnick was not yet in Addis Ababa, the NFF chief who is gunning to replace Moucharaf Anjorin of Benin Republic as West Africa A representative

on the new CAF executive to emerge after elections tomorrow, told THISDAY that he has been here since Monday.

“Why do I need to be at the meeting of the current executive when I am not yet a member? I am here and very sure of getting to the new executive committee to begin a new dawn for African football,” stressed Pinnick who is a member of FIFA’s organizing committee.

In the last two CAF elections, Ibrahim Galadima and Aminu Maigari tried in vain to unseat the Beninoise who is a well known supporter of incumbent CAF President Issa Hayatou.

Anjorin also enjoys the support of former CAF member Dr Amos Adamu.

He is chairman of the Media Committee of the outgoing executive.

In the 60 year old history of the continental body, only two Nigerians – Etubom Oyo Orok Orok and Amos Adamu had been members of the executive committee.

Leicester captain, Wes Morgan, scored the opening goal against Sevilla yesterday in the UEFA Champions League second leg match at the Kings Stadium. Leicester went through 3-2 on aggregate.

NFPL

Queens Baton Relay FC IfeanyiUbah Must Fall, Says Ibenegbu Team Arrives Nigeria Next Month The Nigeria Olympic Committee (NOC), in partnership with the Federal Ministry of Youth and Sports formally commenced an awareness programme to herald the arrival the the Queen’s Baton Relay team in Nigeria yesterday at a media briefing in Abuja.

The event which is the traditional curtain raiser to the Commonwealth Games is expected to be received in Lagos by President Muhammadu Buhari.

Speaking at the media centre of the Abuja National Stadium, the NOC President Habu Gumel described the pre-event media chat as an important day in the history of the event preceding the commonwealth games.

“The Queen’s Baton relay is coming all the way from Buckingham Palace, London and will tour over 70 commonwealth countries in preparation for the Commonwealth Games in Australia,” he explained.

Gumel revealed that the Queen’s Baton relay which Nigeria hosted alongside other commonwealth nations in 2005, 2009 and 2014 ahead of the Melbourne 2006, Delhi 2010 and Glasgow 2014 games left London on Monday, 13th, March 2017 enroute other commonwealth countries.

“It is a very important event to us. We have hosted it on many occasions, received by the president of Nigeria. This time around, we are planning to do more in commemoration of this great and iconic event.”

In his remark, the Minister of Youth and Sports, Solomon Dalung described the Queen’s Baton Relay as a media event with the overall objective of creating the needed public awareness for the Commonwealth Games.

According to Dalung, the 388 days journey covering over 70 Commonwealth nations will be accompanied by a five man international team expected to berth in Nigeria in line with the tradition of the commemorative event.

“I wish to invite all our media friends to join us as we celebrate the Queen’s Baton relay in Nigeria, using it as the platform for awareness and generating corporate and public support for the 2018 Commonwealth Games.”

“Permit me to use this medium to inform all concerned, that the countdown to the 2018 Commonwealth Games has begun. We must therefore, put our acts together to ensure a robust preparation and successful outing for Team Nigeria at the Games,” Dalung said.

The media event had in attendance, the Acting Permanent Secretary of the Ministry of Youth and Sports, Alhaji Salau AbdulRazak, NOC General Secretary, Tunde Popoola, Mrs Hauwa Kulu Akinyemi, Director Federations and Elite Athletes Department and other top management staff of the Ministry.

The Queen’s Baton Relay will commence in Lagos from April 1-5, 2017.

Enyimba attacking midfielder, Ikechukwu Ibenegbu has tagged a turnaround in tonight’s oriental derby against FC IfeanyiUbah (FCIU).

The People’s Elephant are hosts of the Anambra Warriors in tonight’s top-flight rescheduled matchday 9 clash at adopted ground the UJ Esuene Stadium in Calabar.

Ibenegbu said his side have been unlucky in the on-going

top-flight despite playing good football.

“Yes, the clash is an oriental derby but beyond that there is easy no match in the NPFL so tomorrow (Wednesday) is predictably going to be a big match.

“I must confess that we have been unlucky, we play good football but results have not been coming to show for our hard work.

“However, starting with the clash against FC IfeanyiUbah our fortune is certain to change for the best.

“The oriental clash will become the turnaround we have looking for all this while in the top-flight.

“FCIU are good side despite not being able to get a deserving results in their matches and will come out here to give us a tough match but I know for sure that

we will smile at the end of proceedings.

“We are not negotiating the whole three points at stake with anyone not even FCIU,” said the former Heartland and Warri Wolves goal poacher.

The six-time Nigerian champions are 12th on the 20team top-flight on 15 points 10 behind leaders, Plateau United with a match at hand against the Anambra Warriors.

Imo Dominates at S’East Cricket Championship Imo State Cricket team on Sunday emerged the winner of 7th edition of the South-East Cricket Championship tagged Chuma Anosike Cup when it defeated Anambra Cricket team 1 by 2 wickets.

Imo batted first and scored 113 runs for the loss of 9 wickets in 20 overs. Obidike Obiefuna had 39 runs off 35 balls, Okere Chike scored 27 runs off 12 balls in 24 minutes , Rickson Teteh got 19 runs off 19 balls in 98 minutes, Ogbue Prince 16 runs off 12 balls in 1: 7 minutes .

Anambra’s Chukwudi

Mgbojikwe took 4 wickets in 4 overs, Adaogu Chisom caught 2 wickets in 3 overs, Emmanuel Ifediora, Ezeaguba Chijioke , Nnonka Frederick all took 1 wicket each.

In the second innings, Anambra1, scored 97 runs all out in 19.4 overs, Obidike Obiefuna scored 35 runs off 40 balls in 50 minutes, Ifediora Emmanuel scored 15 runs off 20 balls in 1 hour 7 minutes .

Imo’s Onwunrili Nnaemeka took 4 wickets in 4 overs, Onwunrili Chukwudi had 3 wickets in 3 overs, Ogbue Prince

took 3 wickets in 2.4 overs to landed Imo state in promised land for the first time.

Bagshaw Miebaka of Ebonyi state won bowler of the series, fielder of the series, Pascal Okoye of Anambra 1,best batman of the series went to Onyenka Tabansi of Anambra 1,Wicket keeper of the series Ogbue Prince of Imo state, Douglas Humble of Ebonyi won cricketer of the series while Abia state won best behaved team.

In his clossing remarks, Anambra State Commissioner for Youth and Sports, Dr Uju Nwogu congratulated all the participants.

He said the tournament like this disengaged the youths from social vices and help them to channel their strength in the right direction to the gain of cricket and sports in general to the development of the state.

Dr Nwogu thanked the sponsored of the Championship, Chuma Anosike whose altruism has enlivened the game of cricket in the South-Eastern States adding that she would convene everything seen at the championship to the State Governor, Mr Willie Obiano promising that the state will throw it weight behind the game.

600 Golfers to Storm Ikeja Golf Club Captain Tourney Over 600 golfers are expected to take part in the one-week activities of the Captain Day tournament at the Ikeja Golf Club, Lagos which started last Monday.

The event, which is done annually to celebrate the achievement of the captain and members of his committee during a particular golfing year, is expected to attract golfers across

the country.

At a press conference to brief journalists of his committee’s stewardship in the last one year, the captain of the golf club, Akin Areola, said all-inclusive activities started last Monday with the caddies and staff taking to the course.

Yesterday was the turn of the veterans from ages 60, and

professionals to take the course, while the course is reserved for over 50 female players today.

The Pepsi sponsored Captain’s Kitty will hold tomorrow which is open to every golfer across the world.

The main competition, which is the handicap 19 -28 and some invited guests is slated for Friday, while on Saturday, players with

handicap 1 to 18 will take their turn.

Participants from other clubs are expected to participate in the main with current and former captain of various clubs taking part too.

27 trophies and various prizes await participants, while the pros are expected to smile to the bank with handsome monetary reward.

Wednesday March 15, 2017

TR

UT H

& RE A SO

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Price: N250

MISSILE

NCS to VOAN

“ The policy on payment of duties on cars to vehicles owners was misconstrued, misinterpreted and has been blown out of proportion” Acting spokesman for the Nigerian Customs Service, Joseph Attah recanting the Service’s earlier directive and ultimatum to vehicles owners to payment retroacative duties on cars bought years back.

EHIEDUIWERIEBOR GUEST COLUMNIST

African Challenges to African Development

T

he parlous story of African economic and social development since independence best expressed in the failure to achieve the autonomous capacity for self-actuated development and in particular to create conditions of national and continental modern mass production and prosperity is well known and need not be repeated.

It is enough to re-state that Africa’s development failure was because of the leaderships’ choice to retain, maintain and expand the inherited exocentric colonial system of development incapacitation, primary commodity export, import dependency and poverty generation.

The progressive efforts of some African states and leaders to change the system and create selfreliant economies were stymied by the leaderships’ ideological inadequacies and dependency, the balance of payment crises of the late 1970s and 1980s and the subsequent economic crises and decline. This provided the avenue for Western multilateral imperialist agencies- the World Bank and the IMF - to successfully infiltrate into Africa, re-colonize African states and convert them into neo-colonial out-posts of the so-called neo-liberal consensus. This framework embodied in the Structural Adjustment Programmes (SAP) with its destructives conditionalities: currency devaluation, trade liberalization, subsidy removal, deregulation and privatization, re-directed the African states to focus on expanded raw materials production and exports and to abandon industrialization and development capacitation.

The application of these anti-development SAP dogmas in the 1980s and 1990s ushered in two decades of deepening indebtedness, serious economic crises, de-industrialization, socio-economic decline, deepening impoverishment and political repression. On the other hand, the period also saw the upsurge of popular democratisation struggles, civil rights campaigns, the restoration democracy, and the establishment of electoral democracy and the decline of military interventions in African politics. In the economic sphere, there were innovative dependency-reducing responses. This was because among businesses there was an increased re-orientation toward local sourcing of well-known agricultural and mineral endowments to expand production. This led to the emergence of new economic sectors and especially the expansion of cottage, small and medium scale consumer goods industries which were operationally autonomous due to the increased utilization of local resources for production and self-development.

In addition there was relative political stability and policy and institutional the support for businesses through the creation of enabling environments for attracting investments.

It was partly because of these new domestic conditions and the economic self-activation, and the partly because of return of better commodity prices in the first decade of the 21st century that the Western media fabricated and propagated the new view of “Africa Rising”. This became a very popular and re-assuring slogan among some African leaders, politicians and intelligentsia.

However, it was an insecure condition because a “Rising Africa” whose upsurge is generated by increased external demand for primary commodities is essentially insecure. It does not represent genuine African development that is based on expansive

President Muhammadu Buhari domestic production and prosperity generation. It merely reinforces African dependency on primary commodity export and its dependence on the importation of manufactured goods. It is evaporating with the speed with which it was proclaimed.

But there was a more consequential development story of this period that ushered in what this author describes as the Affirmative African Narrative phase of development. This is the progressive assumption

by African businesses of the leadership role in promoting national and pan-African development.

This new trend of African self-development is captured by the new concept of “Africans Investing in Africa” This is the process by which African industrial, service, and commercial enterprises began to make large-scale investments in many different African countries. The investments involve for example the expansion of Banks, telecommunication companies, trading companies and so on. Examples of these include Nigerians Banks like UBA, Zenith, Access, First Bank; South African banks like Standard Bank and Moroccan Banks; Telecommunication companies such as MTN of South Africa, ECONET of Zimbabwe and GLOBACOM of Nigeria. Others are Shoprite, Coca cola and South African Breweries.

While Africans investing in Africa is becoming common and commendable, it is important to emphasize that NOT ALL African investments in Africa are of equal economic importance or strategic development value. For example, African investments like Shoprite and similar companies which merely establish commercial or trading enterprises that do not add value to African economies are no different from traditional non-African FDI companies that are established to create captive markets for products from their home countries and thereby maximally exploit Africa.

On the other hand, African companies that make investments that are decisive and transformational are those that deliberately promote and advance African development capacitation, through local resource exploitation, mass industrialization, large scale industrial, agricultural and mineral production, and beneficiation for internal use.

In terms of investment for development capacitation through local resource utilization and valorisation, the vanguard African company is the Dangote Group. In order to ensure that

Africa achieves self-sufficiency in the critically important infrastructure development requirement – CEMENT – Dangote embarked on a pan-African investment strategy to establish integrated plants, or grinding plants or cement terminals in African countries according to their resource endowments.

The Group’s ultimate objective is become the ascendant cement manufacturing company in Africa. There is no question that the Dangotean strategy of development capacitation through local resource exploitation, mass industrial production and domestic prosperity-generation is what Africa requires to become the self-actuated mover of its own development and to create a secure development upsurge and continental prosperity that does not depend on the vagaries of external demand for primary commodities.

This Dangotean transformational mission and project is now been threatened by what seems like the unwillingness of African countries to respect and maintain carefully crafted legal investment agreements as sacrosanct documents and binding commitments. Within the past year the Group has faced major challenges as a result of the failure of some African states to keep their sides of the bargain or agreements concluded with Dangote Group. This happened late last year in Tanzania when the government seemed to renege on some elements within the agreements reached with the Dangote Group to give it concessions and incentives for the massive investments of over $500 million dollars that the Group made in the construction of the monumental cement plant in Mtwara, Tanzania. This Dangote Cement plant with its 3 million metric tonnes per annum capacity is the largest cement plant in Eastern Africa. In addition to the cement plant, other associated Dangote development projects include the construction of a coal power plant and a jetty. While these are primarily beneficial to the Groups business, they also represent important investments and permanent additions to Tanzania’s power and sea transport sectors.

Together these projects have generated significant direct employment opportunities and as they mature and attain full production capacity the multiplier effects in various sub-sectors would be expansive and extensive, thereby creating prosperity and income in the community as well as revenues for the local, regional and national the governments. But due to the problems Dangote had to temporarily shut down the plant; and after negotiations and assurances that restored the original terms, the plant resumed production. This Dangotean Tanzanian experience of government infidelity to the sanctity of agreements can only create profound doubts among business people on the readiness of African states and leaders to move Africa forward.

But the Group’s challenges in Africa are not over. Just recently, in Ethiopia, the regional government of Oromo Regional State where Dangote’s new over $400 million dollar, 2.5 million metric tonnes per annum cement plant is located came up with new conditions that are bound to disrupt the operations of the Dangote plant. In what it claimed is an attempt to provide employment for jobless Oromo youth it decided to withdraw all mining licences and agreements already concluded with Dangote and similar other companies with mining concessions. In its place

the regional government claimed that it would create youth owned companies that would now supply the minerals required by the cement and other plants.

This action of the Oromo regional government in illegally annulling legally approved mining agreements with the Dangote Group and other companies raise major questions on the genuine preparedness of African states, politicians, and bureaucrats to foster Africa’s self-development through Africans investing in Africa. Without question the action of these governments represents major challenges to Africans assumption of responsibility for their development and the emergent Affirmative Africa Narrative. In fact at its core, these anti-investment actions are a repudiation of the long-standing aspirations of Pan-Africanism and its advocates, and the practical commitment of the continental organizations like the former Organization of African Union (OAU) and the current African Union (AU) to promote African-led development through investments, intra-African trade and exchange, as instruments for creating secure African development and domestic prosperity-generation.

This is a good example of how some African leadership represent serious obstacles to African development. Quite clearly any aspiration for Africa’s take off through self-actuated development as represented by the transformational efforts of Dangote and similar committed pan-African economic revolutionaries is weakened by such leadership unfaithfulness, irresponsibility and lack of serious commitments to African investors.

Despite these setbacks, it is important for African states and the continental and regional economic groups to reaffirm their commitment to African-led transformational industrial development as the basis for Africa’s capacitation for self-actuated development. In this light, it is imperative for the AU and its various economic agencies to design Continental Investment Protection Agreements that would commit African states to respect and uphold already approved agreements and avoid arbitrary nullifications of legally binding instruments. An additional guarantor is for each African state to negotiate investment protection treaties with each other. In fact this is especially indicated for countries such as Nigeria where investors are increasingly embarking on Pan-African development investments.

Finally, pan-African transformational investors like Dangote should remain committed and not be discouraged by these clearly disruptive actions of hapless, backward and anti-African development leaders. The Dangotes’ of Africa as continental transformational vanguards should remain firmly committed to their chosen paths of legal profit making and simultaneous contribution to Africa’s transformation, economic development, prosperity-generation, psychological liberation, and the restoration of Africans dignity and equality with others in the world. These are worthwhile and enduring ideals and challenges that transformational revolutionaries and societal game-changers are bound to encounter and overcome so as to create new worlds. r 1SPGFTTPS *XFSJFCPS JT B GPSNFS $IBJS PG UIF %FQBSUNFOU PG "GSJDBOB BOE 1VFSUP 3JDBO -BUJOP 4UVEJFT )VOUFS $PMMFHF $JUZ 6OJWFSTJUZ PG /FX :PSL 64"

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