Wednesday 29th March 2017

Buhari Sends Names of Ministerial Nominees to Replace Ocholi, Mohammed Cabinet reshuffle in the offing Olawale Olaleye President Muhammadu Buhari last night forwarded the names of two ministerial nominees to the Senate as

replacements for the late Mr. James Enojo Ocholi (SAN) and Mrs. Amina Mohammed, THISDAY has learnt.

Although the names of

the two nominees could not be verified at press time, a presidency source confirmed that the letter had been sent to Senate President Bukola Saraki, who will be expected

to read the president’s letter on the nominations at plenary today.

The source said the nominees who are from Kogi and Gombe States will

respectively replace the late Ocholi, who along with his wife and son died tragically in a car accident a year ago, and Mrs. Mohammed who stepped down from the

cabinet to take up the post of Deputy Secretary General of the United Nations last month.

Continued on page 8

In Show of Strength, CBN Lowers Dollar Rate for BDCs to N360/$1… Page 8 Wednesday 29 March, 2017 Vol 22. No 8014. Price: N250

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Senate Defers Action on REC Nominees over President’s Inaction on Magu Vows to defend integrity of N’Assembly EFCC chair accused of terrorising senators over his rejection Ita Enang: Matter will be resolved Damilola Oyedele in Abuja Miffed at the continued

retention of Mr. Ibrahim Magu in an acting capacity as Chairman of the Economic and

Financial Crimes Commission (EFCC), the Senate yesterday declined to begin the process

of screening and confirming the 27 persons nominated

by President Muhammadu

Buhari as Resident Electoral Commissioners (RECs) of the Independent National Electoral

Commission (INEC).

Continued on page 10

Attempts to Cause Rift Between Buhari and Osinbajo Have Failed, Says Tinubu FG: We borrowed from APC leader’s economic template Shola Oyeyipo and Chiemelie Ezeobi The National Leader of the All Progressives Congress (APC), Chief Bola Tinubu, has said that critics of the administration failed in their attempt to cause a rift between President Muhammadu Buhari and his deputy, Yemi Osinbajo, during the president’s medical vacation.

Speaking yesterday during the Ninth Annual Bola Tinubu Colloquium held at the Eko Hotel and Suites, Lagos, to commemorate his 65th birthday, the former Lagos State governor also

commended the vicepresident for his admirable performance during Buhari’s absence.

He said: “I must thank Vice-President Yemi Osinbajo.

For a moment, may I dispense with the formality of titles and protocols; Osinbajo is many good things. Today, may I simply call him my friend and brother.

“Leading a group of fellow commissioners who worked together during my time as governor of Lagos, Yemi and this creative group have turned this event into an annual reality.

Continued on page 8

Indian Police Arrest Five over BUHARI AT WORK… Muhammadu Buhari signing the instrument of ratification of the Paris Agreement on Climate Change in his Attack on Nigerians… P a g e 1 1 President office at the Presidential Villa, Abuja… yesterday godwin omoigui

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In Show of Strength, CBN Lowers Dollar Rate for BDCs to N360/$1 Obinna Chima In line with its resolve to achieve a rate convergence, the Central Bank of Nigeria (CBN) yesterday lowered the rate at which dollar inflows from International Money Transfer Operators (IMTOs) are sold to Bureau De Change (BDC) operators to N360/$1, from N381/$1.

With this directive, BDCs are now expected to sell the greenback to retail end-users at not more than N362/$1, lower than N400/$1 it was sold in this segment of the market.

This emerged barely 24 hours after the central bank directed commercial banks in the country to sell FX obtained from it to retail end-users at not more than N360/$1 for invisibles.

CBN acting Director of Corporate Communications, Isaac Okorafor, confirmed the new directive.

Okorafor said the objective of the new FX policy was to ensure a convergence of the rates in the interbank and BDC segments, stressing that the CBN remained committed to ensuring transparency in the market, as well as fairness to end-users, many of who hitherto experienced challenges in accessing foreign exchange.

He urged licensed BDCs to play by the rules, cautioning that the CBN would not hesitate to sanction any erring dealer.

The CBN spokesman also disclosed that the sum of $100 million offered to authorised forex dealers in the interbank wholesale window to meet the requests of wholesale customers was fully subscribed on auction yesterday.

Okorafor also reiterated his call to all stakeholders to play their respective roles in the smooth running of the

FX market for the benefit of the Nigerian economy.

Commenting on the new FX rate for BDC operators, the President, Association of Bureau De Change of Nigeria (ABCON), Mr. Aminu Gwadabe, expressed satisfaction with the directive. “We are happy about it because it is the right step to harmonise the various rates in the market that have been affecting our operations.

Now that the harmonisation has been achieved, we are sure that the naira will gain strength. “We expect that the parallel rate will appreciate to about N370 to a dollar in the coming days,� Gwadabe said in a phone interview.

On his part, the acting Managing Director, Afrinvest Securities Limited, Mr. Ayodeji Ebo, said lowering the rate for BDCs showed that the intervention by the CBN was yielding the desired results.

CBN Governor, Godwin EmeďŹ ele “It is now pointing to a direction: the CBN may converge the rate at N360/$1.

But to consolidate the gain, I think the CBN needs to move the benchmark band for interbank rate from its current rate to somewhere close to N360/$1 to help conserve external reserves. “By doing that, it will send a positive signal to foreign

investors who are still sitting on the fence, because the CBN is not expected to remain the sole supplier of foreign exchange. “We also feel the CBN needs to look at corporate investors who want to take out their funds that are still trapped and see how to support then. So, lowering the rate for BDCs is good news for retail FX end-users,�

Ebo added.

The naira traded at N365 to the dollar at some parallel market points in Lagos yesterday. Also, external reserves stood at $30.340 billion as of last Friday, down from $30.489 billion last Thursday.

Meanwhile, following concerns that banks with so much dollars for retail invisibles in their vaults might incur losses following Monday’s directive that the adjustment of the exchange rate by the CBN for PTA, BTA

and medical fees should be implemented immediately, a senior banker yesterday allayed any apprehension.

The banker who did not want his name on print, explained that when his bank communicated the new policy to its customers, it informed them that although the central bank had said that the new rate of N360/$ for PTA and others should be implemented with immediate effect, its implementation would depend on when the sale of dollars bought at a higher rate is exhausted.

The source who confirmed that as a result of the sustained intervention by the CBN, banks were now awash with dollars for retail invisibles, added: “Banks would now have to be marketing more for retail end-users. The table has now turned. Previously the customers were the ones chasing the banks for dollars.�

to assess their strengths and weaknesses. “On this basis, he would move some of them around to reengineer the cabinet

and get the ministers cracking on delivering on the promises made by the administration to the Nigerian people,� he said.

generation. He is a great mobiliser. He is very good in planning and executing government plans. “He played great role in transformation of Lagos State.

Tinubu and his associates, Fashola, Osinbajo and now Ambode are the architects of the new Lagos. “Lagos used to be one of the dirtiest states, but now it is one of the cleanest in Nigeria.

He has a knack for picking the right people at the best of times,� he noted.

According to him, “The present administration is determined to make sure that we produce and consume what we produce and import only what is strategic to our development and plan.�

Dambazau added that the federal government was looking forward to incorporating the proposal of the colloquium into the administration’s economic plan.

Renowned industrialist and Africa’s richest man, Aliko Dangote also stirred up the teeming crowd with his story as an entrepreneur while pushing for industrialisation and entrepreneurship among Nigerians who he advised to take advantage of the numerous opportunities available in the country.

The chief host, Governor Akinwunmi Ambode of Lagos State, likened Tinubu to a coconut whose uses are wholistic and not partial.

He described Tinubu as a made in Nigeria product, adding: “If he were to be like the coconut, I will eat, sleep and drink Bola Ahmed Tinubu. “The foundation he laid and the blueprint still exists across all sections. He has simplified the roadmap for governance.�

At the event were VicePresident Namadi Sambo,

Governors Ibikunle Amosun of Ogun State, Abiola Ajimobi of Oyo State, Rotimi Akeredolu of Ondo State and Godwin Obaseki of Edo State, Aminu Tambuwal of Sokoto State, Nasir el-Rufai of Kaduna State, Abdullahi Ganduje of Kano State, who all graced the occasion with their wives in tow.

Also in attendance were the Oba of Lagos, Rilwan Akiolu; the Chief of Naval Staff, Vice Admiral Ibok-Ette Ibas, who was represented by the Flag Officer Commanding, Western Naval Command, Rear Admiral Fergusson Bobai; the state Commissioner of Police, Fatai Owoseni; and the Managing Director of THISDAY Newspapers, Mr. Eniola Bello.

The Speaker, House of Representatives, Hon Yakubu Dogara was also present, so also were the former governors of Anambra and Edo States – Peter Obi and Adams Oshiomhole and the Special Adviser to the President on Foreign Affairs, Abike Dabiri.

BUHARI SENDS NAMES OF MINISTERIAL NOMINEES TO REPLACE OCHOLI, MOHAMMED The source also informed THISDAY that a cabinet reshuffle was in the offing and would most likely take place in the next few weeks after

the two nominees might have been confirmed by the Senate. “After the screening and confirmation of the two nominees from Kogi

and Gombe States, Mr. President would most likely reshuffle his cabinet to accommodate the new ministers and move others where he thinks

they are better suited. “As you know, 34 of his ministers have been in the cabinet for almost 18 months, which has enabled the president

ATTEMPTS TO CAUSE RIFT BETWEEN BUHARI AND OSINBAJO HAVE FAILED, SAYS TINUBU “Each year, they assemble creative minds to address the issues that stand in the way of our national greatness. As result, the colloquium gets better by the year. “In this and so much else, the VP has proven himself a true servant of the Nigerian people. While our dear president had to be away, the VP performed admirably as his loyal subordinate. “I must applaud President Muhammadu Buhari. He meticulously followed our constitution in temporarily transferring the helm of power to the VP. “As such, the two excellent men exemplified teamwork and true meaning of unity of purpose. “These two men although of different backgrounds, faith and professional experiences, have forged themselves into a team that manages complex matters of state and governance in a seamless and smooth manner. “Try as critics might, they could not create any space between the president and his deputy. “This is how things are when people are united in vision and purpose. As President Buhari and his VP have been, we all must become.�

Tinubu emphasised that the annual collquium was not designed to be about him but to address a national need. “Though the event banners bears my name, this gathering is not about me. It is about what a people united in purpose must do to improve their beloved country. “Though our roles may be different, some may work under the public glare and others labour without fanfare, we are all but servants to that goal. “In this pursuit, no person is greater than any other. For

this is the nation that we seek.

We build a nation by forging the nation ourselves to become that nation, day by day, difficult step by difficult step. “We do so by casting aside the prejudices and biases of the past in order to forge a more progressive and just society where no Nigerian is pushed down because of his place, origin, faith or social status,� he said.

On the path to Nigeria’s economic recovery, he said: “I have listened to the Minister of Finance, Nigeria stands at a defining juncture. Our challenges are manifold and profound. Yet, so are our collective abilities and talents.

Don’t ignore them. “One more thought shall suffice: Here, I add a third part to this year’s theme. Not only must we use what we make and what we use, we must fix our minds to make what the world values,� he said.

Tinubu also suggested among other things that Nigeria must press forward with a national industrial policy that fosters the development of strategic industries, creates jobs and spurs further economic growth.

Also speaking at the event, the Minister of Finance, Mrs. Kemi Adeosun, admitted that the federal government had borrowed from the “ingenious economic template� of the administration led by Tinubu, when he governed Lagos State between 1999 and 2007, for its economic recovery plan.

Adeosun said as part of efforts to reposition the Nigerian economy, the federal government embarked on an aggressive tax collection drive which it borrowed from the Lagos State Government. “The economic template we are using today at the federal level is the one we copied from

you (Tinubu). And most states are now copying it. And we are following that which you laid down. Oil has proved to us that it is a very unreliable source of revenue. “As a matter of fact, it is a lazy means of economic revenue. The situation we found ourselves today demands that we have multiple sources of revenue; we need to create jobs for people. “Presently, we have an unproductive economy, so we need to drive the economy by creating jobs. “We will change Nigeria by consuming what we make in Nigeria. Using what we make and consuming what we make is the best way towards economic recovery. “The tax mobilisation we copied from Tinubu is what we are using. And we thank you for leading the way in tax collection. As a matter of fact, when you embarked on aggressive tax collection, which eventually led to increased IGR in the state, many people complained but the truth is that we all can see the massive infrastructure development achieved from that aggressive tax collection,� Adeosun said.

Assuring the gathering of eminent Nigerians who attended the event with the theme, “Make It in Niger: Use What We Make – Make What We Use,� Adeosun said that the federal government was ready go after unpaid taxes. “So all the millionaires, billionaire and trillionaires who have carried on their businesses without paying taxes should expect me. I will be knocking at your doors,� she said.

The well attended event had keynote speakers drawn from the Nigerian Air Force (NAF), the Ministry of Industry, Trade and Investment and the

Ministry of Finance and they all emphasised the need to look inwards in the drive to grow the Nigerian economy.

The guest speaker and Chief of Air Staff (CAS), Air Marshal Sadique Abubakar said he was thrilled at the theme of this year’s event.

He said: “I am thrilled because it affords me the opportunity to showcase how the Nigerian Air Force has been innovating locally to maintain its array of platforms, weapons systems and associated equipment. “For the Nigerian Air Force platforms to remain operational, the timely delivery of parts at reasonable costs must be assured. “However, the Nigerian Air Force is ordinarily compelled to rely mostly on foreign Original Equipment Manufacturers (OEMs) for the supply of the parts and usually at exorbitant prices. “Besides, as a service, we are well aware of the focus of the federal government in promoting local content, home grown technologies and innovation as principal means of preserving the nation’s foreign exchange earnings. “Accordingly, the Nigerian Air Force currently places much emphasis on research and development as a way of building indigenous technological capacity.�

Although President Muhammadu Buhari was absent, he was represented

by Osibanjo, who came with his wife, and the Minister of Interior, Lt.-Gen. Abdulrahman Dambazau (rtd.).

Dambazau spoke very highly of Tinubu, describing him as a politician with foresight and a penchant for good leadership. “Tinubu is the outstanding South-west politician of his

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Asiwaju at 65: The Selfless Life of a Leader Tunde Rahman Asiwaju Bola Ahmed Tinubu is a remarkable political composite with so many dimensions such that it is difficult to paint an adequate portrait of all that he is and all he has accomplished. Authors and commentators have said and written so much about this inimitable man, dwelling on his life as an activist, intellectual, administrator, politician, strategist, democracy icon, humanist, family man and more. But I want to attend to just two of the numerous qualities of Asiwaju Tinubu as a meticulous strategist and a compassionate man. I select these two because this combination rarely enjoys residence in one man. Usually, a person is one or the other but only infrequently is he both.

I write of these aspects because of the insight I have gained in working with him in the last six months. I shall elucidate this with a few examples; but neither ones gleaned from the political turf, nor those usually seen on campaign trails. It is not about how he emerged the last man standing among the AD governors of the Southwest who were outfoxed by President Olusegun Obasanjo in 2003, or how he led the way in moulding the political machinery that unseated an incumbent president.

The examples derive from moments hidden from the

TRIBUTE cameras and public glare, from those moments when the true character of a man is most revealed.

But first, let me make a disclosure. I think I was perhaps destined to work with Asiwaju Tinubu. Here’s the reason. In 1991, while covering political activities for the old Daily Times in Abuja, the newspaper’s Political Editor at the time, Mr. Segun Ayobolu (at present Deputy Chairman, Editorial Board of The Nation), tapped me to be a Media Assistant to Asiwaju Tinubu. At that time, he was the Chairman, Appropriation Committee of the Senate. I was a young reporter with barely two years as a journalist. I did not take the job because I felt I needed more time to grow in the profession. But I refused to let go.

I kept track of Asiwaju Tinubu, particularly his politics.

In later years, I would remind him of that offer each time I came around to see him. Five years ago, when as Editor of THISDAY, the Saturday Newspaper, I interviewed him in commemoration of his 60th birthday, I jokingly accused my friend, Sunday Dare, the immediate-past Media Adviser to Asiwaju Tinubu, of standing where I ought to be. Dare moved to a higher pedestal in September last year

Tinubu as Executive Commissioner at the Nigerian Communications Commission (NCC) in Abuja.

As fate would have it, I gladly stepped into his shoes, filling a position offered two decades before.

Asiwaju Tinubu is one of the most humane public figures one can find anywhere. One incident last year sticks so vividly to mind as if it happened yesterday. Around mid-day, he sent for one of his aides on a mercy mission to a widow in Kaduna. As it turned out, he had never met nor spoken with the distressed woman. It remains a mystery how she got his telephone number.

With no means of livelihood, things had been quite difficult for her and her children since losing her husband, she told

him. He asked for her location.

Immediately after the call, Asiwaju dispatched my colleague to Kaduna to locate the woman, and to assist her should her claim prove to be true. Help was given and the condition of the woman and children made better.

The point to note: Asiwaju Tinubu’s generosity and selflessness are beyond bounds.

I later discovered that hers was not an isolated case. He has done this for countless number of people and will continue to do so. He has a caring heart and gives without necessarily knowing the beneficiaries or expecting anything in return.

This was the first instance I witnessed. Since then, I have seen numerous instances of such compassion, in the

short time I have worked at Bourdillon.

The Jagaban Borgu is a consummate political strategist. For him, he leaves little to chance. If you intend to succeed, you must plan for it. He is ever prepared, pays attention to the minutest detail and works round the clock with clockwork precision. His custom is to work late into the night in his study reading or engaging in a brainstorming session in order to keep abreast of domestic events and world affairs.

There was an occasion in January that I also recall. It was 3:00 am, a time most people are deep asleep. He had not slept much the previous days, yet he was still very much awake and alert. We were working on the final draft of a speech he was to deliver later that day in Abuja.

He is always fully involved in writing his speeches. He kept scrutinising and fine-tuning the address until it was just right. Eventually, we were done by5:00am. Only then did he allow himself a brief nap. By 8:00 am, he was ready for the trip to Abuja to address students at the National Defence College.

It was no surprise that the speech Asiwaju delivered was an excellent one. His paper teemed with personal experiences and anecdotes and was delivered to the admiration of the course participants. The crucial point is that Asiwaju is by no means the intellectually

passive leader who simply takes what their media aides or speechwriters give and head for the podium to begin to read something he hasn’t seen before.

Asiwaju’s imprint is always rightly on his speeches because his heart and mind have shaped them word by word, sentence by sentence.

Asiwaju Tinubu is a workaholic. His days are typically packed with meetings and activities, leaving one wondering how he copes.

He has the vigour to go through a tough day then awake to do it all over again.

His pace and agility is often confounding. He would move from granting audience to one dignitary to another, from one meeting to another and from one brainstorming session to another, and yet another. As he meets the mighty - presidents, diplomats and prominent leaders from far and near - so too does he grant audience to the lowly-placed, solving their problems and attending to their needs, almost always skipping his meals and forgetting to attend to his own needs.

As he marks his birthday with another colloquium on another issue that dwells on the country’s wellbeing, I join the many who wish him continued good health, renewed physical and mental power and above all the grace of God for all that lies ahead. r Rahman, Media Adviser to Asiwaju Tinubu, writes from Lagos

the other hand, appealed to his colleagues to tread cautiously on the matter, consider the request and refer the nominees to the Committee on INEC. “We still have enough time,� he said and added that the Senate must show superiority and more commitment to democracy “than those antidemocratic forces that survive outside the chambers of the National Assembly�.

In his contribution, Deputy Senate President, Senator Ike Ekweremadu also appealed to the lawmakers to set a timeframe for the suspension of the confirmation process for the RECs. “Let us apply some moderation in conveying our feelings to the president on the issue of appointments,�

Ekweremadu said, pointing out that the Senate needs to be clear to the public that most of the posts for the RECs had been vacant for about a year and were therefore not being delayed by the Senate.

Saraki also appealed to the lawmakers and sought an amendment to the motion for a suspension of two weeks instead of an indefinite suspension. “If I put the question, I can see where it would go. I want to propose an amendment, which is that we should stand it down for a week or two,� he said.

Earlier, the lawmakers had held a closed-door session, which lasted for about two hours.

Saraki, at commencement of plenary, opened up on

the outcome of the executive session, stating: “The Senate in a closed-door session reflected on the various attacks on the National Assembly, especially on the Senate, for performing its constitutional duties. “The Senate resolved to defend the integrity of the Senate against such attacks and will not be intimidated from carrying out its constitutional duties at all times.�

Reacting to the development in the Senate yesterday, the Special Adviser to the President on National Assembly Matters (Senate), Senator Ita Enang said the impasse would be resolved. “We appreciate the Senate, we do not quarrel with them.

We have listened to them, we have taken the points they have made and we will always listen to them and work with them because they are an arm of government. “They are an institution, they are not a parastatal, we respect that. So I will be communicating that. “Today, the REC nominees reported for normal documentation and we are glad that the Senate did not reject that. They simply deferred it and we respect them, we appreciate them because this is the best thing they can do. “This is good for us because they did not reject them, they simply said ‘we are deferring the consideration’. We will not allow anything that causes friction between the executive and the legislature,� Enang said.

SENATE DEFERS ACTION ON REC NOMINEES OVER PRESIDENT’S INACTION ON MAGU The Senate equally expressed its determination to defend the integrity of the National Assembly, against attacks in the course of performing its constitutional duties.

Magu was also accused of terrorising the senators and undermining the integrity of the Senate, because the upper legislative chamber rejected his nomination and asked Buhari to replace him with another nominee to head the anti-graft agency.

The allegation against Magu was made yesterday by Senator Francis Alimikhena (Edo North), when he pointedly accused the EFCC boss of being behind the negative reports against the Senate in the media as payback for his non-confirmation.

The lawmakers suspended the consideration of the REC nominees for two weeks, to enable the Senate President, Dr. Bukola Saraki, consult with the presidency and share the sentiments of the lawmakers.

Magu has been rejected twice by the Senate on the basis of a report of the Department of State Services (DSS), which indicted him for corruption and unprofessional conduct, but he has continued to occupy the position of the EFCC helmsman in an acting capacity.

The presidency, in a letter to the Senate President dated February 27, 2017, had requested for the screening and subsequent confirmation of the RECs, eight of whom are eligible for reappointment.

But the lawmakers, at plenary yesterday argued that

since the rejection of executive nominees by the Senate does not seem to stop them from being allowed to continue in an acting capacity, there may be no point in screening other nominees.

Senator Peter Nwaoboshi (Delta North) set the pace for the debate when he recalled that the Senate recently dealt with the issue of confirmation of Magu, but the rejection of the nominee was dismissed by the Chairman of the Presidential Advisory Committee on Anti Corruption (PACAC), Prof. Itse Sagay, who said the Senate “merely confirms�.

He lamented that such misleading statements implying that the legislature has no powers, came from a professor of law who has lectured constitutional law in the university, a Senior Advocate of Nigeria (SAN), and the chairman of such an important body. “Here are we again today, now be are given a list to confirm and we merely confirm. Eight of them (RECs), out of 27 are eligible for reappointment which means they are acting already, they are already working and are still in position. “Prof. Sagay will again start citing Section 171(d) of the constitution, even if we do not confirm them, he will say to them continue to fight. “But when you denigrate such an institution that has the power to confirm and used the word ‘merely’, we could have ignored it but for somebody of that status that

is a problem. “My position on this matter is that since our confirmation is ‘merely’, let us suspend it until we now know whether we have the power, as given to us by the constitution, to look into confirmation matters or any other status,� Nwaoboshi argued.

Nwaoboshi then moved the motion that the Senate suspend consideration of the nominations indefinitely.

His position was adopted

by Senator Matthew Uroghide (Edo South) who also noted that the Acts establishing the agencies of government have specified which appointments by the president have to be confirmed by the Senate.

Uroghide stated that if the Senate, in performing its statutory role of confirmation, rejects a nominee the president is at liberty to nominate another candidate, but must inform the Senate formally on the fate of the rejected candidate. “These persons cannot keep acting even when we have turned them down. As it is, they are acting and their names have been sent in for confirmation and we do not know what has happened in the case of the EFCC. “Specifically speaking, is he acting today? If the president knew that he was not going to honour our refusal or rejection of his nominee, they should not have sent him in the first place, which would have meant an outright violation of the law establishing EFCC and of course the constitution,�

Uroghide added.

Senator Adamu Aliero (Kebbi Central), however, took a different position and urged caution to ensure that the Senate is not blamed for the seeming unpreparedness of INEC for the 2019 general election.

The screening and approval of the RECs is crucial to the preparation for the elections, he said, adding that observations can be made on the nominees during the screening exercise since some of them are eligible for reappointment.

Senator Alimikhena, however, disagreed with Aliero and queried what would happen if the Senate declines to confirm any of the nominees for reappointment. “That is the question that the Distinguished Senators are asking the executive. There is no need to disapprove one and he goes back to say he can continue to act,� he said.

Alimikhena accused the acting EFCC boss of being behind the negative reports against the Senate in the media as payback for his non-confirmation. “The reports that are agog in the papers, he is behind them. Magu is terrorising us because we disqualified him and we cannot hide it. We disqualified Magu and he is terrorising our people because we disqualified him and he is still acting and they are still bringing in others for us to confirm. If they know they can do it alone, let them do it,� Alimikhen said.

Deputy Senate Leader, Ibn Bala N’Allah (Kebbi South), on

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NEWS

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

Indian Police Arrest Five over Attack on Nigerians Police arrested five men yesterday after hundreds of angry residents of a north Indian city attacked Africans with sticks and metal chairs following the death of a local teenager from a suspected drug overdose.

Around a dozen people were wounded in the violence late Monday in Greater Noida, a satellite city of New Delhi where hundreds of African students are based. “Rumours were being spread that Africans are behind the youth’s death and racist comments were made on social media. It looks racially motivated,� senior police officer, Sujata Singh, told AFP. “Five attackers have been arrested and four others are on the run,� she said, adding that 300 people were involved in the rioting.

India’s foreign ministry condemned the incident as “deplorable� and said it had assured the Nigerian high

commissioner (ambassador) that all steps were being taken to protect the country’s nationals.

Many Nigerians were targeted in the violence, which was apparently triggered by the release without charge of five Nigerian students detained over the teenager’s death. “The government is committed to ensuring safety and security of all foreigners in India. People from Africa, including students and youth, remain our valued partners,� said a ministry statement.

Singh said around 500 people had assembled for a candle-lit vigil in Noida to demand justice for the teenager, and became violent after spotting a group of Nigerians.

One television station showed an angry mob hitting a car with sticks, while another showed dozens of attackers hitting shoppers in a mall with metal chairs.

Endurance Amalawa, one of the attacked students, said he was

outside the mall with his brother when they saw an angry mob running towards them. “We kept crying for help, but no one came, not even the security marshals. I was running but they followed me and attacked me,â€? he said on NDTV television. “Some people were hitting us, pushing us out‌ they dragged my brother outside and start hitting him.â€?

Africans living in India frequently face discrimination and even violence, and are often accused of involvement in the illegal drug trade.

The issue was thrown into the spotlight after a Congolese national was stoned to death last year in a dispute over an auto-rickshaw.

After that, African ambassadors in New Delhi threatened to advise students from their countries to

avoid schools in the capital for their own safety. “The locals look at us like cannibals,� said Presidoe Okujuna, spokesman for the Association of African Students in India, which is advising students to avoid classes for their own safety. “People are scared. They don’t want to come out. They want security for their lives.�

The latest attack stemmed from the death of a local 16-year-old from an apparent drug overdose.

Police detained five Nigerian students in connection with the case after a group of local people went to their home and accused them of murder.

The students were later released after police failed to find any evidence against them.

NJC Clears Justice Abang of Alleged Misconduct over PDP Leadership  Crisis Alex Enumah Ă“Ă˜ ĂŒĂ&#x;ÔË The National Judicial Council (NJC) has cleared Justice Okon Abang of the Federal High Court of allegations of misconduct levelled against him in respect to the judgments delivered against the Senator Ahmed Makarfi faction of the Peoples Democratic Party (PDP).  In a letter dated  March 15, 2017, and signed by its Secretary, Mr. Danladi Halilu, the NJC said it found no merit in the petition against the judge.

Halilu disclosed that the council, following the  receipt of the petition, deliberated on it at its meeting of February 23, 2017 but found no merit in the petitions. Justice Abang had on July 29, 2016 declared as illegal the Makarfi-led National Caretaker Committee of the PDP. Abang in a ruling he delivered held that the Makarfi-faction was illegal because it was a product of the party’s convention which held on May 21 in Port Harcourt, Rivers State, in defiance of an earlier order of Justice Ibrahim Buba of the Lagos Division of the Federal High Court, which had stopped the said convention from holding.

But  the  Makarfi faction not  satisfied with the judgment wrote a petition to the NJC dated August 25, 2016, in suit Nos. FHC/ABJ/CS/439/2016 and FHC/ABH/CS/464/2016, accusing  Justice Abang of assuming appellate powers to sat over the decision of the court of coordinate jurisdiction.

However, the NJC in its letter with reference number NJC/ F.3/FHC 44/VII/55 stated: “At the end of deliberations, the council found that your petition finds no merit  as there was no sufficient material before the NJC to  infer that the judge sat

on appeal over the decision of his brother judge of coordinate jurisdiction. “The appeal therefore lacked merit and is subsequently dismissed,� it said.

In another development, the NJC also dismissed the petition dated November 7, 2016 by Heritage Bank Plc  against Justice Abang for lacking in merit. The bank in a petition against the judge, accused him of improper  judicial conduct and bias against in judicial proceedings before him.

But the NJC in Ref. No NJC/ F3/FHC44/VII/556 dated March 15, 2017 dismissed the petition for lacking merit.

It would be recalled that Justice Abang had on July 29, 2016 declared as illegal the Makarfi-led Caretaker Committee of the national leadership of the PDP. The court, in a ruling held that every action the committee (PDP National Chairman) had taken since it emerged through a convention the party purportedly held in Port Harcourt on May 21, amounted to nullity. The court held that the Lagos Division of the court had also made orders on May 12 and 20, forbidding the PDP from removing the Sheriff-led Caretaker Committee. That order is still subsisting. “Having regard to the order of the court, PDP had no lawful authority to hold the convention that led to the emergence of the Markafi-led committee.

The convention was unlawfully held and the caretaker committee was unlawfully and illegally appointed and could not take any legal decision for the PDP, in view of the subsisting order of the Lagos Division of this court.�

ALL ROADS LEAD TO LAGOS FOR THE LION OF BOURDILLON @ 65‌

L-R: Former Vice-President, Namadi Sambo; wife of the vice-president, Dolapo Osinbajo; Vice-President Yemi Osinbajo; Senator Remi Tinubu; her husband and National Leader of the All Progressives Congress (APC), Chief Bola Tinubu; Minister of Interior, Lt.Gen. Abdulrahman Dambazau (rtd.); Lagos State Governor, Akinwunmi Ambode; and his Kaduna State counterpart, Nasir el-Rufai, celebrating Tinubu’s 65th birthday at the ninth Annual Bola Tinubu Colloquium, held in Lagos‌ yesterday

Shell: Nigerian Companies Play Key Roles in Bonga Maintenance Ejiofor Alike Nigerian companies are playing key roles in the turnaround maintenance (TAM) at Bonga, as Shell Nigeria Exploration and Production Company (SNEPCo) executes statutory activities that will ensure continuous optimum operations at the deepwater field, the Managing Director of SNEPCo, Mr. Bayo Ojulari has said.

Ojulari said in a statement yesterday that nearly all the bolts and nuts as well as fabrications used for the exercise are made in Nigeria, marking a turning point in SNEPCo’ s efforts to

encourage Nigerian content development.  “This is an operation safely in Nigerian hands, with Nigerian engineers and companies playing leading roles and ensuring the objectives of the exercise are achieved,� he added.  The turnaround maintenance commenced on March 4, 2017, involves three major components – statutory and regulatory safety checks, inspections, repairs and replacement of equipment and upgrades – to ensure safety, optimum production, availability and reliability. It is also part of the base case design of the FPSO to carry out TAM on every 30

months basis.    “The plan is to successfully conclude the ramp of activities and resume production as planned in April, 2017. It is not proper to interpret the period as production loss to Nigeria. Rather, the turnaround maintenance is a series of planned and controlled activities that are implemented in collaboration with government and other stakeholders – with the aim of ensuring the continued safety and productivity of the facility. The planning started two years ago and safety is top priority in every stage of the activities,� he added.  The turnaround maintenance

is the fourth since Bonga began production in 2005.

Bonga, which won the ‘Asset of the Year’ Award 2016 in the Shell Group, is Nigeria’s first deep water development in depths of more than 1,000 metres, and is located 120 kilometres offshore Nigeria.  SNEPCo operates Bonga in partnership with Esso Exploration and Production Nigeria (Deep Water) Limited, Total E&P Nigeria Limited and Nigerian Agip Exploration Limited under a Production Sharing Contract with the Nigerian National Petroleum Corporation (NNPC). Â

Ngilari’s Bail Followed Due Process, Says Counsel Daji Sani Ă“Ă˜ ãÙÖË The embattled ex-governor of Adamawa State, Bala James Ngilari, has said his bail was in accordance with the 1999 Constitution.

Ngilari was recently sentenced to five years in prison by a Yola High Court presided over by Justice Nathan Musa for corruption and the same court on Monday also granted the ex-governor bail based on his present medical condition in prison.

While responding to criticisms

regarding the embattled governor’s bail, his counsel, Obed Wadzan, who spoke his behalf, said the court did not act on the letter from Yola Prison to grant Ngilari bail but a medical report presented before the court.

He said the medical reports presented to the court indicated that Ngilari needed medical attention following the history of his health conditions by his personal physician and some hospitals abroad.

Wadzan told journalists at a press conference that the letter

from prison was simply to explain the reason the former governor could not appear in court based on his bail application.

He explained that lawyers do not have any power to determine the health condition of anybody, stressing that if the Attorney General of the state was not satisfied with the medical report presented before the court, he should simply invite a medical personnel to explain to the court whether the medical report presented before it was genuine or not.

The counsel of the embattled governor further explained that it was the responsibility of the counsel of the Economic and Financial Crimes Commission (EFCC) to proof beyond reasonable doubt why the embattled governor should not be granted bail.

Wadzan said it was constitutional to go to the same court that sentenced the governor to jail to seek for bail, adding that if the presiding judge did not grant him bail he can proceed to the Appeal Court to get bail.

WEDNESDAY, MARCH 29 2017˾ T H I S D AY

12

NEWS

Abuja Airport will Reopen on April 19, Sirika Insists Says Kaduna airport picked over Minna for safety reasons Crusoe Osagie The Minister of State for Aviation, Senator Hadi Sirika, yesterday reassured Nigerians and aviation stakeholders around the world that the April 19 date fixed for the return of flight operations to the Nnamdi Azikiwe International Airport, Abuja, was very much within reach and would certainly be achieved.

Answering question on THISDAY sister news network, Arise Television, anchored by Charles Aniagolu, Sirika noted that all the milestones and timelines set to ensure the completion and reopening of the airport on the said date are being met by contractors and workers handling the project.

He therefore reaffirmed an earlier promise to hand in his resignation if the deadline is missed, stressing that only if the deadline is missed on

account of a force majeure would he hold on to his job as aviation minister.

Sirika also explained that the choice of Kaduna airport as an alternative to Abuja was made with safety considerations as the main factor, noting that the access road to Kaduna, the terminal building and all other facilities at the Kaduna airport were either completed, partially completed or already being handled when the decision the chose an alternative to Abuja was being taken.

He said in the case of the Minna airport, most of the basic infrastructure needed for it to be suitable for the exercise were either absent or very far from completion.

“Kaduna has two runways, it has the international runway which is used to carry out seasonal international operations like the hajj and is able to accommodate wide bodied, high capacity

Melaye Attends Senate Plenary in Academic Gown Damilola Oyedele ÓØ ÌßÔË Following the confirmation by the authorities of the Ahmadu Bello University (ABU), Zaria, that he graduated with a Third Class degree in Geography from the institution in 2000, Senator Dino Melaye (Kogi West) yesterday showed up at the Senate plenary in an academic gown.

He wore the purple and gold gown complete with a cape and cap.

Melaye had been accused by an online news medium of not graduating from ABU with a first degree as he had claimed, prompting an inquisition into the allegation by the Senate Committee on Ethics, Privileges and Public Petitions.

However, the Vice Chancellor of ABU, Prof. Ibrahim Garba appeared before the committee on Monday and confirmed that Melaye graduated in the third semester of the 1998/99 session.

“From the records of ABU, Zaria, Distinguished Senator

Dino Melaye, who was at that time Daniel Jonah Melaye, graduated with a Third Class degree of the Bachelor of Arts in Geography in the year 2000, and by this, he is a graduate of the university,” Garba had said.

Obviously, still basking in the euphoria of being confirmed a university graduate, after his academic credentials were questioned, Melaye decided to attend yesterday’s Senate session in an academic gown.

Melaye, who has a penchant for theatrics, hyperbole and rabble rousing stretching from his days as a member of the House of Representatives, entered the Senate chamber before the lawmakers went into closed-door session and drew the attention of his colleagues who were seen in conversation with him.

The senator’s display yesterday followed a video he posted on social media moments after Monday’s investigative hearing to mock his challengers.

airplanes in and out. It also has the military airport or the military runway. So, clearly, it came on top when you compare it to Minna. And when you say distance, Kaduna is 200km out of town, that is out of Abuja and Minna is 117km or so. “Kaduna road was bad but the road to Minna was worse and of course also the

Kaduna-Abuja road was on the budget for 2016 and about to be rehabilitated but the Minna road was not.

“Also the terminal building in Kaduna was about to be finished but terminal building for Minna was basically not there. So people can be cynical about it or they can have their own opinion but we had a responsibility of looking after

lives and property. So we did it in the interest of safety and we picked the best choice.”

When asked why the major international airlines have chosen top boycott the Kaduna airport in spite of all the arrangements made by his ministry, he cited the Ethiopia airlines which according to him came for inspection of the facility before the kick-off and has been

using the airport ever since.

“On the whole we believe it is a commercial decision that they need to take by themselves. For us, we were in a time of need and we expected our friends to come around us and help us.

However, the decision is theirs, we cannot force any airline to come to Kaduna. We have done the best we can,” he explained.

CAPACITY BUILDING FOR JUDGES

Executive Director, Asset Management Corporation of Nigeria (AMCON), Dr. Eberechukwu Uneze; Supreme Court judge, Hon. Justice K.M.O. Kekere-Ekun; Justice Mary Peter-Odili; and Managing Director/Chief Executive Officer, AMCON, Mr. Ahmed Kuru, after a oneday interactive session with justices of the Supreme Court and Appeal Court at the NJI in Abuja....yesterday

Auto Dealers Launch Automated Customs Duty Verification Stickers Ndubuisi Francis ÓØ ÌßÔË Amid the controversy over the attempt by the Nigeria Customs Service (NCS) to force motor owners to pay duty on uncustomised vehicles, the Association of Motor Dealers of Nigeria (AMDON) has launched an automated customs duty verification sticker.

The move, which was a prompt response to address the controversies between the auto dealers and the NCS on one hand and their customers on the other, is expected to lay to rest, under-payment of customs duties across the country and save them from unnecessary harassment and detention.

AMDON National President, Ajibola Adedoyin, disclosed yesterday in Abuja that the essence of the sticker was to make it difficult for the sale of uncustomised vehicles, stop the suffering car dealers usually find themselves as well as eradicate the embarrassment faced by customers and end-users.

“This development is in collaboration with NCS. The stickers are fitted with Radio Frequency Identification (RFID) that contains information readable through the handset,” he said.

The stickers are to cost N5,000 and signify that vehicle that have them have been verified with the use of the numbers provided by the NCS pending

when the short code for easier verification will be ready and issued.

With this, Adedoyin explained that vehicle buyers were admonished to look out for these stickers before purchasing any vehicle.

“The RFID contains the VID (Vehicle Identification) number which is for security purposes, the chasis number and the owner phone number. The subsequent AMDON RFID stickers to be produced will even contain more information which will include the reference number, which is the NCS port of entry and date of registration which are the requirements to authenticate the genuineness of duty payment as approved

by the NCS. “It is our hope that by our commitment towards this project, we would have been able to reduce all the above stated problems to the barest minimum,” he said The AMDON president advised all members of the association to strictly adhere to the directives, and encouraged all car dealers who are yet to identify with the association to do so.

Adedoyin also disclosed that AMEDON was partnering the Nigeria Police Force to reduce to the barest minimum, the issue of stolen vehicles.

This synergy, he stated, was expected to curb security issues associated with car theft.

NNPC Boss: PIB Has Been Split into Four for Easy Passage

Melaye

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said the corporation has split the Petroleum Industry Bill (PIB) into four for easy passage into law.

Baru disclosed this yesterday while speaking at the Department of State Services’ (DSS) Executive Intelligence Management Course (EIMC) in Abuja.

He said the split was done under the leadership of Dr. Ibe Kachikwu, Minister of State

for Petroleum Resources, and President Muhammadu Buhari.

He said the action was taken to allow the National Assembly deliver on the promise of “speedy passage”.

Speaking on the theme: ‘Executive-Legislative Relations: Gaps, Challenges and Prospects’, Baru, according to The Cable, said a cordial relationship between both arms of government would help Nigeria deliver on set goals.

“Executive-legislative discord sometimes heightens domestic sensitivity to the extent that

institutions’ performance is affected. Executive-Legislative relationship is very crucial for attaining good governance and delivery of democratic dividends,” he said.

“Government agencies will flourish well when all efforts are harmonised and aligned within government’s overall objective.

Government business, such as the NNPC, will benefit a lot from a constructive executivelegislative interplay.

“NNPC management under the leadership of Dr. Ibe Kachikwu with the support of

President Buhari has split the Petroleum Industry Governance Bill (PIGB) into four segments,” he stated.

On the state of the PIB, Baru appreciated the “legislature’s immeasurable significance in our day-to-day activities and operations.

“Today, NNPC has a full department in National Assembly, headed by a general manager which shows its dedication to managing relationship between the NNPC and the National Assembly,” he said.

WEDNESDAY, MARCH 29 2017˾ T H I S D AY

13

NEWS

Senate: Seized Range Rover N62.5m, Not N298m

To probe Customs’ claim of seizure of 13 vehicles from Kano senator Barau denies allegations

Damilola Oyedele ÓØ ÌßÔË The Senate yesterday clarified that the bullet proof Range Rover Sports Utility Vehicle (SUV) purchased by the National Assembly as part of the convoy of the Senate President was procured at the sum of N62.5million not N298 million as had been reported in the media.

It was imported into Nigeria for the sum of $298,000 in 2015, at an exchange rate of N165 to a dollar, the Senate clarified, adding that the vehicle was purchased from the dealer to who it was consigned for N62.5million.

The vehicle, imported in September 2015 by Oando Plc, was seized by the Nigeria

Customs Service (NCS) while it was being driven to Abuja by a driver engaged by the dealer, Lanre Shittu Group.

The customs duties papers were subsequently discovered to be fake.

Briefing journalists in Abuja yesterday, the Senate spokesman, Senator Aliyu Sabi Abdullahi, (Niger North) said the reports that the price of the vehicle was N298 million were false and mischievous.

“The correct price of the vehicle when it was imported in 2015 is $298,000 which at the prevailing rate of N165 to a dollar is about N49,170million. The Senate paid N62.5m for the vehicle in November 2015. This is contrary to the mischief by

those who decided to turn the $298,000 to N298million as the price of the vehicle.

For the avoidance of doubt, the price of that vehicle is N62.5million and not N298million,” Abdullahi said.

He called for accuracy in all reports regarding the legislature to avoid sensationalism.

“The Senate is a responsible institution and those who believe that when they have issues to explain before it, the next thing to do is to resort to falsehood, blackmail, muck-raking and mudslinging, should know that they are just overheating the polity and undermining our democratic institution,” Abdullahi added.

The Senate spokesperson reiterated the commitment of

the institution to upholding the rule of law and work for Nigeria in accordance with the constitution.

Meanwhile, the Senate may again get entangled with the NCS as it yesterday directed its Committee on Ethics, Privileges and Public Petitions to investigate claims that 13 vehicles were seized by the agency in the Kano home of Senator Jibrin Barau.

Barau (Kano North), at plenary, refuted the claims, describing it as fake news.

The Zonal Commander of the NCS task force in Kano, Mr. Bala Dole, had last Monday, claimed that the seized vehicles: 12 Toyota Hilux and one Land Cruiser SUV, were smuggled into the country without the payment of the required customs

duties.

Dole declined to name the senator, but a daily newspaper mentioned Barau as the senator in whose home the vehicles were discovered.

Displaying a copy of the newspaper which had the story on its front page at plenary yesterday, Barau lamented that the newspaper did not carry out the necessary checks before reporting the story without giving him a chance to respond to the allegations.

“When I woke up this morning, I saw on the headline, that 14 Hilux vehicles that duties has not been paid on where found in my residence, and that my house was sealed. This never happened. It said the vehicles were there without

anyone claiming ownership.

I was with my constituents last weekend; we were all in my house and no Hilux vehicle was in my house. This is terrible and a bad day for democracy.”

“My privilege has been abused, it has been abused and I feel very sad that my privilege has been impuned. I really cannot phantom why this should happen when we need to put our heads together.

We are in the time of recession.

We need everyone to come on board - the executive, the legislative and judiciary - even the fourth estate of the realm for us to find the solution to the problem we find ourselves,” the senator added.

Kukah: I Didn’t Collect One Dollar or a Penny from Jonathan The Catholic Bishop of Sokoto, Mathew Hassan Kukah, has criticised the perception that he was close to former President, Dr. Goodluck Jonathan, for what he could get.

“Despite my friendship with Jonathan over this long period of time, we never discussed a penny, we never discussed one dollar; we never exchanged a penny, and we never exchanged a dollar,” Kukah said.

In an interview in the current edition of The Interview, Kukah said those who thought they could smear him by warming up to President Muhammadu Buhari were responsible for fantasizing his relationship with Jonathan.

“Suddenly, journalists whom I knew were writing, hoping they would be given positions (by Buhari) and all those who were abusing me have gone full cycle,” he said.

He continued: “Those who should be ashamed of themselves are those who took money from Jonathan, tonnes of it, and have decided to lie, buried under the table; they

have decided to change course in the middle of the race. Those are the guys who you should be talking about.”

In a statement, the Managing Director/Editor-In-Chief, Azu Ishiekwene, said: “This is Kukah with his gloves off.

Anti-Kukahs of every stripe have their match in this issue.”

The clergyman revealed that “certain people in the Peoples Democratic Party (PDP)” have been telling him that Jonathan should have had a long-drawn-out exit, like the disgraced Gambian President Yahaya Jammeh.

He spoke about the continuing detention of the Shiite leader, El-Zakzakky, and the bill for a Christian court, expressing concern that, “We are going back, we’re not getting better.”

The edition also explores the love language of public figures, including advertising icon, Lolu Akinwunmi; journalist Funke Treasure-Durodola; the director of Leventis Food, Tasos Amanatidis; and author and celebrity, Teju Babyface.

HOLDING AGM

L-R: Director, Mr. Emmanuel Nnorom; Managing Director/CEO, Uzoamaka Oshogwe; Chairman, Erelu Angela Adebayo; and Directors, Mrs. Olayinka Ogunsulire; and Mr. Samuel Nwanze during the fourth annual general meeting of Afriland Properties Plc in Lagos... yesterday

Oil Prices Rise over Libyan Output Disruption Ejiofor Alike wÓÞÒ ËÑÏØÍã ÜÏÚÙÜÞÝ Crude oil prices rose yesterday following a severe disruption in the Libyan oil production and comments by officials of the Organisation of Petroleum Exporting Countries (OPEC) that the cartel could extend their production cuts to the end of the year.

OPEC and non-OPEC Joint Ministerial Monitoring Committee (JMMC) had last Sunday agreed to review whether the global deal to curb oil output should be extended by six months.

JMMC convened in Kuwait City for its second meeting last Sunday where it announced that based on the report of the Joint OPEC and non-OPEC Technical Committee (JTC) for the month of February 2017, OPEC and participating non-OPEC

countries have continued their progress towards full conformity with their voluntary adjustments in production.

The agreement to cut 1.8 million barrels per day, which came into effect on January 1, 2017, was for six months and is extendable for an additional six months, depending on the status of supply and demand, including global inventories.

The comments that the agreement could be extended, coupled with the drop in Libya’s oil output by roughly a third, or 252,000 barrels per day because of production blockage at the Sharara and Wafa oil fields, has boosted oil prices.

But prices were still weighed on by resurgence in United States oil production and the expectation that inventories there would build up once again, illustrating the persistent global supply overhang that has

depressed prices for three years.

Reuters reported that prices for front-month Brent crude futures, the international market benchmark, gained 55 cents to $51.30 per barrel yesterday, while West Texas Intermediate (WTI) futures, the US benchmark, were up 50 cents at $48.23 a barrel.

Brent rebounded from testing a support of $50 a barrel on Monday and was underpinned by a weak dollar, which can attract investors to safer commodity markets while making oil cheaper for countries using other currencies.

The comments from Iranian Oil Minister, Bijan Zanganeh, were followed by a statement from non-OPEC member Azerbaijan that it was ready to join an extension of the deal into the second half of this year.

Analysts polled by Reuters expect U.S. crude oil stocks to have risen by 1.2 million barrels

to a fresh record. EIA data is due today (Wednesday), while estimates from the American Petroleum Institute were issued yesterday.

A record amount of US crude oil has found its way to Asia and other destinations this year and more is expected to be shipped out as traders take advantage of arbitrage opportunities by sending excess US oil into regions where it can find buyers.

OPEC and 11 other leading producers including Russia agreed in December to cut their output in the first half of the year.

JMMC had requested the JTC with the OPEC Secretariat to review the oil market conditions and revert to the JMMC in April 2017 regarding the extension of the voluntary production adjustments as stipulated in the Declaration of Cooperation, in order to ensure market stability.

14

T H I S D AY WEDNESDAY MARCH 29, 2017

COMMENT

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

WHAT DO WOMEN REALLY WANT? They should be contented with socio-political empowerment, argues Sonnie Ekwowusi

T

he 61st session of the United Nations Commission on the Status of Women (CSW61) took place at the United Nations Headquarters in New York City from March 13 to 24 2017.

The United Nations Commission on the Status of Women, as you may very well know, is an annual gathering of women leaders across the world to canvas/articulate/review egregious women human rights and/or development issues affecting or involving women in the world. The theme of the CSW61, which was chaired by His Excellency Mr. Antonio de Aguiar Patriota (Brazil), was: Women’s Economic Empowerment in the Changing World of Work. The newly-appointed Deputy-Secretary General of the United Nations Dr. Amina J. Mohammed, a Nigerian, was in attendance. Other notable Nigerian participants included commissioners in charge of women affairs in different states, ECOSOC-accredited non-governmental organisations (NGOs), directors of gender affairs across the Nigerian states, and so forth. Suffice it to say that the Federal Ministry of Women Affairs and Child Development, Abuja, worked very hard to ensure that Nigerian delegates gainfully participated in the CSW61. Women Affairs Minister Senator Aisha Jummai Alhassan was a good role model. Beyond being physically present at most CSW61 sessions, she participated in the lively discussions and conclusions therein. Princess Joan Jummai Idonije did a yeoman’s coordinating and supervisory job.

She envisioned and mounted a coordinating strategy that paved way for an all-inclusive smooth and effective participation of the Nigerian delegates in the CSW61 activities and proceedings.

Anyway, on the last days of the CSW61, the agreed draft conclusions were issued. They included, among other things, the need for equal participation of women in political and socio-economic decision-making at all levels and in all contexts, including in times of peace and conflicts and in all stages of political transition. It also included the women’s full participation in the formal economy, in particular in economic decision-making, and their equal access to full employment and decent work; empower women in the informal sector; and ensure that women and men enjoy equal treatment in the workplace, as well as equal pay for equal work or work of equal value, and equal access to power and decision-making, and promote sharing of paid and unpaid work.

The African group led by Egypt issued a powerful statement extolling African cultural heritage But something interesting happened. Comprehensive sexuality education was not included in the agreed conclusions. Consequently some American and European Union delegates including the very respected and influential Nigerian delegate Mrs. Oby Nwankwo were of the view that the non-inclusion was fatal to the agreed conclusions. With the greatest respect, I still fail to see the connection between economic empowerment of women (which was the thrust of the CSW61 theme) and the so-called comprehensive sexuality education. Comprehensive sexuality education which oftentimes is euphemistically termed sexual education or family life education or adolescent sexual reproductive right or health teaches that sexual promiscuity, oral sex, homosexuality,

THE BEST GIFT TO OUR CHILDREN IS A SOUND MORAL EDUCATION, NOT THE ABRASIVE BIOLOGICAL WESTERN SEX EDUCATION THAT DESTROYS THE CHARACTER OF OUR CHILDREN

lesbianism, how to wear the condoms, masturbation, abortion, sterilisation and so forth are rights in so far as they give pleasure.

Comprehensive sexuality education was the strange philosophy promoted by sexual deviant Alfred Kinsey (Google him please). Alfred Kinsey stated that children are sexy even from birth and there is nothing anybody can do about it. He said that young people are entitled to sexual pleasure because children are not healthy until they have sexual pleasure. I have right in front of me, as I scribble this, the teaching manual or Teacher’s Manual of Comprehensive Sexuality Education.

At a point, the manual requests the children in the classroom to touch each other’s genital saying: “I like you”. The manual also requests the children to touch each other’s private parts and find out the differences in their respective private parts. Comprehensive sexuality education, I have been made to understand, can lead people out of poverty. I have not heard that it will lead to improved climatic change.

As I said earlier, I find no connection between the promotion of sexual promiscuity and economic empowerment of women. Sexual promiscuity is not food that women must eat in order to stay alive.

Under the guise of promoting political and economic empowerment of women and in fact uplifting rural women from the state of squalor or free them from unhealthy cultural conditioning, a certain Western model of radical feminism that failed to take into account Africa’s religious, cultural and philosophical convictions is being imposed on Africans. This must be resisted. Oby Nwankwo argues that Nigeria has sexuality policies. If that is correct, then Nigerian parents and stakeholders must meet and critically examine them to see if they resemble the comprehensive sexuality education. Similarly, Nigerian parents must now stop the reproductive right or health policies being implemented by the Federal Ministry of Health and Federal Ministry of Education because they contain some of the immoralities one finds in the comprehensive sexuality education. After all, the Federal Ministry of Health and Federal Ministry of Education never obtained the consent of parents and Nigerians before implementing the reproductive right or health policies. The best gift to our children is a sound moral education not the abrasive biological western sex education that destroys the character of our children.

What really amazes me is how some Nigerians are so eager to embrace and even force others to embrace in Nigeria the western sexual revolution that has dragged Europe and America to the point of self-destruction. Europe and America are now suffering the tragic consequences of abortion, promiscuous sexual behaviour, homosexuality, lesbianism and transgenderism. President Donald Trump has just outlawed Barack Obama’s useless policy that allows male and female students to be showering together all in the name of gender neutrality.

Therefore, we must be careful in Nigeria. Point is the western sexual revolution has done tremendous damage in the West. It has reached a stage of self-destruction. Now the battle has been shifted to developing countries. If we are caught with the revolution, our future will be imperilled too.

ARCHITECT OF MODERN LAGOS Kunle Oyewumi pays tribute to Bola Tinubu, political strategist and former governor of Lagos, at age 65

D

uring the historic administration of Asiwaju, as Bola Ahmed Tinubu is fondly referred to, as the Governor of Lagos State, many people who were familiar with the managerial acumen and political sagacity of the renowned politician were not surprised with the relentless efforts and visionary leadership he put to play in laying and building a solid foundation for the modern Lagos State.

Against all odds, including the seizure of the federal government allocation and other intervention funds due to the state, the Jagaban Borgu did not give up on his dream and vision as he looked inwards to raise the bar of internally generated revenue (IGR) to implement his lofty and extraordinary development ideas. Today, Lagosians and non-Lagosians alike can bear witness that Tinubu is the brain behind today’s modern Lagos.

The impressive achievements of the Jagaban Borgu are obvious when you look at the state of infrastructure in Lagos today, among others. The ex-governor built roads, constructed and equipped schools and hospitals in all nooks and crannies of Lagos State, ensured timely payment of salaries and pensions to civil servants, serving and retired, attracted private investments and provided an enabling business environment for private businesses to thrive, established many governmental agencies - LASTMA, LAGBUS, KAI - and absorbed people from the streets into these agencies as a way of curbing social vices among other initiatives.

Asiwaju Tinubu is a good manager of people and other resources. It was he who gave Mr. Babatunde Fashola the opportunity of serving as his chief of staff as he saw the need to ensure a succession plan so as to sustain the trend of development in the

state. Based on this premise and having discovered Fashola’s talents, the political titan anointed and ensured victory for him at the 2007 governorship poll. Being a key member of the State Executive Council during Asiwaju’s regime, Mr. Fashola knew the road map his erstwhile boss had set and he did follow suit. The trend continued during Fashola’s administration (2007-2015) as he sustained the feat of his predecessor by completing ongoing projects while executing new ones.

During Fashola’s administration, he never shied away from going back to the master strategist - Asiwaju Tinubu - for guidance, counsel and support. The healthy relationship between Tinubu and Fashola helped the state in many folds as there was no political tension whatsoever. In short, Fashola’s regime was also a huge success like that of his predecessor.

In the build up to the 2015 general elections, the alleged differences between Tinubu and Fashola, occasioned by the choice of the party’s standard bearer for the governorship poll, became pronounced as Asiwaju Tinubu anointed Akinwunmi Ambode, while Fashola was rooting for his preferred choice.

Eventually, Asiwaju Tinubu’s choice won the party’s ticket and ultimately became the Governor of Lagos State. After the polls and against all political bickerings among the gladiators, the power brokers displayed a high level of maturity in their relationships and as such maintained self respect for each other. This action soon proved rumour mongers wrong that all was not well between Asiwaju Tinubu, Fashola and Ambode.

I must say that the current administration of Ambode has not deviated from the ideals of Asiwaju Tinubu as the governor continues to implement policies and execute projects with positive impact on

the society.

The truth must be told that Asiwaju Tinubu is not just a leader because he enjoys a cult-like political followership, but also for finding the right men to run the affairs of Lagos State after his stint as Governor of Lagos State (1999-2007). Big daddy (as one of my friends- Kabiru fondly calls him), being an advocate of sustainable development, knew the imperative of handing over the state to like-minds that share the same ideology with him and hence the rationale behind passing the baton of leadership to Mr. Fashola and ultimately to Governor Ambode.

One lesson other Nigerian leaders should learn from Asiwaju Tinubu is searching for the best brains regardless of political, religious and tribal sentiments to lead the people. If Asiwaju had reasoned like most other Nigerian politicians, he would have handed over power to an empty brain for selfish reasons - not wanting others to shine or in the name of overbearing loyalty. Asiwaju Tinubu, a well-known dogged fighter for democracy, has demonstrated his love for the masses by throwing his weight behind individuals who will not betray the thrust of the people, while applying their intellectual expertise in leadership positions.

It is a known fact that if you are opportune to pass through Asiwaju’s political school, you will be armed with these qualities: selflessness, political maturity, doggedness, generosity and loyalty. The above tenets underscore the maturity displayed by two members ( Fashola and Governor Ambode) of Asiwjau Tinubu’s political family during the former’s visit to the latter in Lagos a few days ago. Shortly before the minister’s visit, there were celebrated and hyped media reports that all was not well between the duo of Fashola and Ambode, especially due to the outcry of Ambode on the al-

leged frustration of his efforts on the Apapa-Oshodi Expressway by Fashola.

During the visit, the minister commended the new Lagos State chief executive for his outstanding performance thus far. This patriotism displayed by these notable politicians is remarkable and as such this again has proved rumour mongers wrong that all is not well among the trio of Asiwaju Tinubu, Fashola and Ambode. I must also state that the action of these notable figures will be beneficial to Lagosians and non-Lagosians alike who are the ultimate beneficiaries government projects as both parties - the federal government and the Lagos State Government - will work hand in hand to improve the lot of the people through infrastructural regeneration - construction and re-construction of federal roads in Lagos metropolis and environs.

This piece in commemoration of Asiwaju’s Tinubu’s 65th birthday is necessary because the former Governor of Lagos State is not only an astute politician but also a human resource consultant as evidenced in his handing over the mantle of leadership to ex-Governor Fashola and thereafter to Governor Ambode. The list is endless for Asiwaju’s expertise in human deployment, including the new Federal Inland Revenue Service boss, Babatunde Fowler - who has been implementing aggressive policies to boost federal revenue. Take it or leave it, the Jagaban remains a shining light in politics beyond the shores of Nigeria.

While wishing the Chancellor of Ladoke Akintola University of Technology, Ogbomosho, Oyo State - many more fulfilling years ahead in the service of mankind, I would like other leaders to emulate the impeccable qualities of Asiwaju Tinubu in their pursuits in life.

Prince Oyewumi wrote from Lagos

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T H I S D AY Ëž Í°ÍˇËœ Í°ÍŽÍŻÍľ

EDITORIAL SHU’ARA’S CONTROVERSIAL TENURE ELONGATION The extension of tenure of Jamila Shu’ara as permanent secretary is wrong

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or the second year running, President Muhammadu Buhari has extended the tenure of the Permanent Secretary, Federal Ministry of Education, Dr. Jamila Shu’ara who ordinarily ought to have retired from service by February last year. While no explanation has been given for the controversial decision that is already causing rumples within the federal civil service and the National Assembly, with all manner of insinuations, we strongly believe that it is uncalled for and does violence to the preachment of this government about due process and transparency. It is also an abuse of discretion and we call on President Buhari to rescind the decision immediately.

We recall that Shu’ara was due to retire from the Federal Civil Service on February 17, 2016, after attaining the mandatory age of 60. And in preparation for that, she sent in her notice, dated February 15, 2016, to the Head of Civil Service of the Federation, Mrs. Winifred Ekanem Oyo-Ita, about her intention to leave.

Shu’ara, in her letter, thanked the federal government and President MuTHE EXTENSION OF hammadu Buhari for HER TENURE SENDS A “the opportunity of WRONG SIGNAL THAT THE a rich employment�.

SERVICE IS BEING UNDULY Her action was in line POLITICISED BY THE with the civil service PRESIDENT rules.

However, for some inexplicable reasons, President Buhari decided to extend her tenure by one year, precisely till February 17, 2017. In the letter conveying the presidential decision by the OfďŹ ce of the Head of the Civil Service of the Federation, Shu’ara was told that her emoluments and other conditions of service would be sustained till the new retirement date. The letter entitled: “Extension of Retirement Periodâ€?, was dated February 24, 2016 and signed by Oyo-Ita. Unfortunately, when that extension lapsed, Education

Letters to the Editor

Minister, Mallam Adamu Adamu said last week that the tenure has been further extended by President Buhari.

We do not doubt that the president has the discretionary powers to take certain decisions. But we hasten to say that the elongation of Shu’ara’s tenure is capable of destroying the civil service as an institution which has a long tradition and history of keeping to the rules of procedure on matters like this. It also sends a wrong signal that the service is being unduly politicised by the president, especially when the Public Service Rules Number 100238 is against Shu’ara’s tenure extension after attaining the age of 60.

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hat is particularly worrying is that it appears decisions like this have become synonymous with the current administration. It is very sad that the president is being accused again and again of promoting preferential treatment and nepotism in the placement of personnel in critical areas of our national life. But the pertinent question on the issue of the permanent secretary remains: is the presidency saying that there are no qualiďŹ ed personnel in the federal civil service that can easily step into Shu’ara’s vacant position?

In the interest of the institution, industrial peace and harmony in the civil service, we advise President Buhari to rescind the decision to further extend Shu’ara’s tenure. The issue here is not about the competence of the woman but rather about propriety and legality.

In upholding the retirement age of 60 years in the public service of the federal government in Gusau v Comptroller-General of Customs (2014), the Court of Appeal categorically asserted that “a statement of policy, general or otherwise, cannot overrule or wipe away speciďŹ c provision of the Public Service Rules especially where such policies are not written into the terms of the contract.â€?

Therefore, the policy of tenure extension for Jamila Shu’ara is illegal, null and void and ought to be set aside by President Buhari who has undertaken to eradicate ofďŹ cial impunity and corruption in the land.

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.

LAGOS LAGOON AND THE ALLURE OF SUICIDE

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ecent research reveals that about 480 million people across the world experience depression during their lifetime. According to a World Health Organisation (WHO) data, by 2020, major depressive illness will be the leading cause of disability in the world for women and children. The economic cost of untreated mental illness is more than 150 billion dollars each year in the United States. Thus, if not properly addressed, depression could as well turn out to be a time bomb waiting to explode in an already troubled world.

The Medilexicon’s medical dictionary depicts depression as medical conditions that disrupt a person’s thinking, feeling, mood, ability to relate to others and daily functioning. Just as diabetes is a disorder of the pancreas, depression is a medical condition that often results in a diminished capacity for coping with the ordinary demands of life. Depression is more than just a feeling of being sad or moody for a few days. Symptoms of depression include feeling sad or empty, loss of interest in favourite activities, over eating, or not wanting to eat at all, not being able to sleep or sleeping too much, fatigue, feeling of hopelessness, irritation, anxiety, guilt, aches, pains, thought of death or suicide, erratic or changed behaviour, loneliness, desperation, among others.

Medically, depression is a mood disorder that causes a persistent feeling of sadness and loss of interest in things that the victim is ordinarily usually passionate about. It is also called major depressive disorder or clinical depression and it affects how the victim feels, thinks and behaves. It can lead to a variety

of emotional and physical problems which include finding it difficult to embark on daily activities. It can also lead to marital troubles as depression victims find it very hard adjusting to family values and ethics. Indeed, coping with the stress of family life causes more difficulties for victims of depression.

Causes of depression are complex and vary, depending on the particular disorder and individuals. Genetics, drugs, loss, disease or injury, neurocognitive and psychological mechanisms, and life experiences, society and culture, can all contribute to depression in people. The most common view, however, is that depression tends to result from genetic vulnerabilities and environmental stressors that combine to trigger disorder.

From all indications, the nation’s tough economic situation has increased the number of citizens who run the risk of clinical depression. According to reports, the rate of marital break ups has increased while matrimonial violence occasioned by economic woes has equally multiplied significantly.

Therefore, we now have more women who are overburdened with excruciating domestic pressures. Cases of pronounced mental health condition have also unsurprisingly increased.

Along major cities in the country, you are likely to come across clean and beautifully dressed compatriots who talk and walk alone, actually without any destination in mind. This, to medical workers is a vital sign of depression induced insanity.

As aforementioned, depression, if not properly addressed, could culminate in suicide. Suicide is almost a strange occurrence in our clime as Nigerians are, perhaps, the most optimistic set of people on earth. Recent events have, however, altered this

entire hypothesis. Happenings in the past few years have shown that Nigerians are not, after all, immune from suicide.

The pattern of recent suicide trend is, however, curious. One of the unique features of Lagos is its Lagoon. The Lagos Lagoon, which is more than 50 kilometre long and three to 13km wide, is a beauty to behold. The Lagoon is fairly shallow and is not plied by ocean –goings ship, but by smaller barges and boats.

So, it is not unusual to see smaller boats filled with fishermen sailing along the Lagoon. But these days, another spectacle, aside fishing and other such routine activities are not only what make the Lagoon thick. Suddenly, the Lagoon has become an attractive suicide spot!

Barely a few days after a Lagos-based medical practitioner, Dr. Allwell Orji, committed suicide by jumping into the Lagos Lagoon, the police recently rescued two women who attempted to jump into the Lagoon from the Third Mainland. Titilayo Momoh, 65, a textile dealer at Lagos Island, disclosed that she was tired of living as a result of a huge debt hanging on her neck. For Mrs. Abigael Olayinka, 61, childless, poor and saddled with the burden of taking care of her husband who is down with stroke, suicide seemed a better option.

To stem current tide of suicide across the country, the federal and state governments must make concerted efforts to fix the economy. At family level, more channels of communication should be opened. Emotional healing occurs whenever a problem is shared.

Tayo Ogunbiyi, Ministry of Information and Strategy, Alausa, Lagos

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T H I S D AY ˾ WEDNESDAY, MARCH 29, 2017

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MIDWEEKPOLITICS

Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY

THE NEWSMAKER

Atiku’s Unending Pursuit of the Presidency Ahead of 2019, former Vice President Atiku Abubakar has again begun moves to realise his political ambition. Segun James examines what his latest bid for the presidency portends for Nigeria

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hen a group of Nigerians start talking about politics, the conversation is likely to centre on the lackluster performance of the ruling crisis All Progressives Congress (APC) and how brief the party’s stay in power is likely to be. This follows the growing disenchantment among members of the coalition that formed the party which eventually produced the government.

In view of the health challenges of President Muhammadu Buhari, many believe that the presidency will be up for grab comes 2019. Even as the president keeps members of his party guessing on whether he will seek a second time in office, party loyalists are already positioning themselves to choose his replacement.

Furthermore, most of the talks now centre on who is likely to be the next president of Nigeria and commander-in-chief of the Armed Forces.

One of the likely contenders, Atiku Abubakar has lately been shuttling around the country, extending handshakes across the Niger. Atiku has never hidden his ambition to govern Nigeria.

He has made several failed attempts to get there.

Nevertheless, he remained unwavering in his resolve to work for it, towards it and has never wavered in his resolve to be president.

One character label that has continued to hunt the former vice president is the one that his former boss, Chief Olusegun Obasanjo pinned on him: the toga of a corrupt public officer.

This toga has been plaguing him since. He is reportedly wanted in the United States for alleged corruption.

But is Atiku really corrupt? The answer depends on who you ask. His followers are of the views that he is a very hard working man who succeeded in life by sheer hard work. Besides, despite these allegations, Atiku has not been convicted of any crime. So in law, he remains innocent until his guilt is proved. Nevertheless, allegation of corruption is a burden the former vice president would have to continue to carry until he is able to shake it off completely.

Prior to his emergence as vice president, Atiku had a career in the customs. The highest level he attained as a customs officer was Deputy Director. But how this amounted to massive political corruption is yet to be known as Obasanjo has never come out with the fact. Not when he was in power, not after he left. What is however evident is the level of animosity and hatred exhibited by Chief Obasanjo towards his former deputy.

However, what is certain is that Atiku is an intellectually sound and articulate politician who has been able to prove that he can handle critical political and socio-economic situation.

Atiku Abubakar (born 25 November 1946) politician, businessman and philanthropist served as the second elected Vice-President of Nigeria from 1999 to 2007, on the platform of the PDP. Abubakar worked in the Nigeria Customs Service for twenty years, rising to become the Deputy Director, as the second highest position in the service was then known. He retired in April 1989 and took up full-time business and politics. He ran for the office of Governor in the Gongola State (now Adamawa and Taraba States) in 199, and for the presidency in 1993, placing third after MKO Abiola and Babagana Kingibe in the Social Democratic Party (SDP) primaries.

In 1998 he was elected Governor of Adamawa State. While waiting to be sworn in as governor, he was selected by the Peoples Democratic Party (PDP) presidential candidate Olusegun Obasanjo as his running mate. The duo went on to win elections in February 1999, and Abubakar was sworn-in as Nigeria’s second democratically elected Vice President on 29 May 1999.

Abubakar’s second term as vice president was

Atiku......won’t give up his presidential ambition

marked by a stormy relationship with Obasanjo.

His bid to succeed Obasanjo did not receive the latter’s support, and it took a judgment of the Supreme Court to allow Abubakar contest after he was initially disqualified by the Independent National Electoral Commission on the grounds that he had been indicted for alleged financial misconduct by an investigating panel set up at Obasanjo’s behest.

The Supreme Court decision ordered the electoral commission to restore Abubakar’s name on the presidential ballot. Abubakar ran on the platform of the Action Congress, having quit the PDP on account of his issues with Obasanjo. He however, lost the election, placing third after Umaru Yar’Adua and Muhammadu Buhari of the All Nigeria Peoples Party (ANPP).

Atiku’s first foray into politics was in the early 1980s, when he worked behind-the-scenes on the governorship campaign of Bamanga Tukur, who at that time was managing director of the Nigeria Ports Authority. He canvassed for votes on behalf of Tukur, and also donated to the campaign. Towards the end of his customs career, he met Shehu Musa Yar’Adua, who had been second-in-command of the military government that ruled Nigeria between 1976 and 1979. Atiku was drawn by Yar’Adua into the political meetings that were then happening regularly in Yar’Adua’s Lagos home. In 1989 Atiku was elected a National Vice-Chairman of the Peoples Front of Nigeria, the political association led by Yar’Adua, to participate in the transition programme initiated by the then

To many people, Atiku’s penchant for jumping from one party to another when he finds that his ambition may not easily be realized has been another character flaw that would not endear him to many people

Head of State, Ibrahim Babangida.

Atiku won a seat to represent his constituency at the 1989 Constituent Assembly, set up to decide a new constitution for Nigeria. The People’s Front was eventually denied registration by the government (none of the groups that applied was registered). Nevertheless, Atiku found a place within the Social Democratic Party, one of the two parties decreed into existence by the regime.

On 1 September 1990, Atiku announced his Gongola State gubernatorial bid. A year later, before the elections could hold, Gongola State was broken up into two – Adamawa and Taraba States – by the Federal Government. Atiku fell into the new Adamawa State. After an acrimonious contest he won the SDP Primaries in November 1991, but was soon disqualified by government from contesting the elections.

A similar fate – disqualification by the military – would befall Shehu Musa Yar’Adua, Atiku’s friend and political mentor, in his 1992 bid for the presidential primary of the SDP. With no chance of contesting for the presidency, Yar’Adua decided to push Atiku forward as the focal point of SDP’s ambitions. Atiku came third in the convention primary.

In 1998 Atiku launched a bid for the governorship of Adamawa State on the platform of the People’s Democratic Party. He won the December 1998 elections, but before he could be sworn in he was tapped by the PDP’s presidential candidate, Olusegun Obasanjo, as his vicepresidential candidate. The Obasanjo-Atiku ticket won the 27 February 1999 presidential election with 62.78 percent of the vote.

Atiku Abubakar was sworn in as Vice-President of Nigeria on 29 May 1999. He presided over the National Council on Privatization, overseeing the sale of hundreds of loss-making and poorly managed public enterprises.

In 2006, Atiku was involved in a bitter public battle with his boss, President Olusegun Obasanjo, ostensibly arising from the latter’s bid to amend certain provisions of the constitution to take another shot at the presidency (for the third consecutive time).

The debate and acrimony generated by the failed constitutional amendment momentarily caused a rift in the People’s Democratic Party. The National Assembly eventually voted against any

amendments that would have allowed Obasanjo to run for another term. The Atiku-Obasanjo face-off damaged the personal relationship between both men.

On 25 November 2006 Abubakar announced that he would run for president. On 20 December 2006, he was chosen as the presidential candidate of the Action Congress (AC).

On 2 February 2014, Atiku left the Peoples Democratic Party to join the All Progressives Congress. According to media reports, he will be seeking to contest for the Nigerian presidency in 2015, on the party’s platform.

Atiku is one man who is not afraid to air his views on issues even when such opinion is not in tandem with the position of those in government.

One of such contentious issue is the question of true federalism. To him, “True federalism is a myth. Federal systems are works-in-progress, and vary from one another according to their specific historical, socio-economic and political conditions. Ultimately people agree on the kind of federal system they will have, and be prepared to make necessary changes if it does not serve them well.”

According to him, there’s nothing wrong in people agitating for what they see as a better federal system.

He said: “In fact the perennial debates and agitations by federating units for improved position within a federal structure is the hallmark of a living, breathing federal system. We need not vilify those who disagree with us or treat them as less patriotic or even as felons.

“I am a businessman and politician. So my remarks will be informed by what I see as the political and economic imperatives of restructuring. I will leave the matter of constitutional framework for constitutional lawyers and for a future gathering of leaders who would work out the details of the needed restructuring.

“Even at that, I will show that our current constitution does indeed concentrate too much power and resources at the centre, which has, in my view, impeded national development, security, peace and stability. At some point our leaders and representatives will come together, discuss and work out a framework for restructuring our federation in order to renew it to serve our people better.”

Closely related to the above is his call for restructuring the Nigerian state. Here is Atiku’s position on the issue: “The restructuring that I have been calling for involves changes to the allocation of powers, responsibilities and resources among the states or zones and between them and the federal government. I do not see local governments as federating units and, therefore, they should not derive their powers from the constitution. Likewise ethnic nationalities are not federating units and any attempt to restructure the country along those lines will be unworkable.

Some of our roughly 300 ethnic nationalities are big enough to constitute independent countries while some are too small to even constitute local government areas.”

Two years to the next general elections, Atiku’s political machine is in full throttle. In recent weeks, he has travelled to every part of the country in his bid to sell himself.

But with President Muhammadu Buhari likely to contest against in view of the provision in the Nigerian constitution which allows for a second term for an incumbent, the question is: under what party and platform will Atiku be running for president?

To many people, Atiku’s penchant for jumping from one party to another when he finds that his ambition may not easily be realized has been another character flaw that would not endear him to many people.

But as the race towards 2019 hots up, all eyes are on the former vice president to walk the talk.

T H I S D AY ˾ WEDNESDAY, MARCH 29, 2017

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PERSPECTIVE

MIDWEEKPOLITICS

Tinubu, Still Standing Tall at 65 By any stretch of imagination, Chief Bola Tinubu is a successful politician. Idowu Ajanaku identifies some of the qualities that have set him apart from his peers “If your actions inspire others to dream more, learn more, do more and become more, you are a leader” - John Quincy Adams

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uestions have always been asked, over the centuries, about the secret ingredients that make up the pot pourri of political leadership, especially with regard to those who dictate the affairs of men and materials. While William Shakespeare, the literary icon opined that: “Some are born great, some achieve greatness, and some have greatness thrust upon them”, the led majority often looks out for certain outstanding character traits in people who epitomize their collective dreams. They identify more easily with those who have the capacity and capability to articulate enduring solutions to their most nagging and intractable challenges. More so, leaders whose life trajectories have followed the inspiring path of zero-to-hero.

One man whose legion of friends, fans and political associates, here in Nigeria and beyond our shores, will today doff their hats for, click and raise their glasses to toast to his 65 chequered years in resilience and resourcefulness is none other than Asiwaju Bola Ahmad Tinubu. As they celebrate with the man some love to call ‘the master strategist’ and others ‘the game-changer’, one cannot but take a sober moment to drink from the fountain of his illustrious life. In so doing, one comes in humility to glean lasting lessons in character, courage, charisma, confidence, candour and compassion (the 6C principles).

Others come in a mixed milleu of humility, honesty, integrity, decisiveness, responsibility, passion, reliability and dependability.

Does he have all these qualities, or less, or even maybe more? That remains the testy task for scholars in the political evolution of Nigeria to unravel. But for now, a few examples of the exhibition of these attributes would suffice.

One of that is his uncanny ability or knack to identify sterling leadership qualities in people, while others grope in the darkness of doubts.

Specifically in 2007 when the gubernatorial market din swirled in Lagos over who would be his successor, he went for his erstwhile Chief of Staff, Babatunde Raji Fashola (SAN).

Though many analysts felt he was then a political neophyte, as the governorship candidate of the Action Congress (AC), Tinubu knew that Lagos, with its increasing population and industrial/ environmental challenges needed a man who knew and stood by the rules of law like the wavy lines on his palms. History has since proved him right.

So it is, with the wave-making, world-renowned accountant, Akinwunmi Ambode, the visionary, vibrant and versatile incumbent governor of the Centre of Excellence, Lagos. When the coast was getting clear for political dreamers, jobbers and adventurers to throw their hats into the gubernatorial ring of the state in 2014, few, if any, looked the way of Ambode. True, he may have traversed the civil service landscape as an auditor for not less than 13 local councils.

Yes, he may also have risen to the enviable posts of Accountant General and Permanent Secretary, Ministry of Finance as part of his 27 years sojourn in the civil service but what has that got to do with the nitty-gritty of riding the wave crests of the murky waters of Nigeria’s brand of power and politics? In fact, the man looked too gentle to equate to the average political aggressor.

Yet, again Tinubu saw in him, the most capable and trusted professional to lift Lagos above the rising tide of the looming economic recession.

He knew that Nigeria was on the verge of that, what with the dwindling oil revenue and after the restless run of ravenous locusts of the PDPled government at the centre. But few did not.

As recent events have proven and considering his remarkable achievements in infrastructural development, transportation, healthcare delivery, education, entertainment and tourism, within a short span of two years, even Tinubu’s most

Tinubu.......a very skillful politician

critical political opponents are openly asking for the magic wand.

It is an unusual gift from God, given to few men for the benefit of all. Indeed, great political leaders “analyze problems; identify the best solutions - not based on loyalty to political party, but rather on what is good and right and in the best interest of the nation as a whole”.

Again, Tinubu’s open endorsement of the then All Peoples Congress (APC) candidate- and the current President Muhammadu Buhari will for eons stand him in good stead. Towards the

Again, Tinubu’s open endorsement of the then All Peoples Congress (APC) candidate- and the current President Muhammadu Buhari will for eons stand him in good stead

tail-end of the Jonathan-led, administration, Nigeria’s ship of state was literally on the verge of collapse, besotted on all sides by the wanton waves of the twin evils of corruption and the insidious culture of impunity. There were overtures from the PDP, for Tinubu to use his political clout to swing political patronage in the party’s favour but he stood his ground.

Nigerians are the better for it today, not minding the temporary pains of the economic recession.

It is in tandem with that patriotic zeal in him, that he used his legendry political sagacity to resolve the impasse between the Nigeria Labour Congress (NLC) and the federal government over the inevitable increase in the pump price of petroleum products. With dwindling crude oil production, no thanks to the mindless mayhem unleashed by militants in Niger Delta as well as a drastic drop in the demand for our oil by foreign countries, the price premium motor spirit jumped from N97per litre to N145 per litre. Such was his skill at negotiation and peace-making that neither NLC nor TUC could embark on mass demonstrations to protest the hike, as it had happened under former President Goodluck Jonathan.

Ditto for reaching out to the young stock of politicians in Borno state, who had hitherto been mesmerized by the stranglehold of a powerpoaching politician for upward of 16 years. It was on the invitation of the governor, Alhaji Kashim Shettima. More violence would have reared its ugly head in the Boko Haram-bedeviled state, had he not single-handedly offered the olive branch to calm strained nerves.

In the South-West where he hails from, Tinubu has become the respected rallying point, preaching peace, even across political divides. Little wonder that informed politicians from the well-informed axis now speak with one voice, on burning national issues. He remains a critical catalyst for the socio-economic integration of the hugely blessed zone. History therefore, beckons on him to continue to use his unique and uncommon political wisdom and wizardry to seek the best and the brightest, for both state and country.

He deserves all the accolades showered on him.

Whoever, ignores him as the march begins towards 2019 does so at his or her own peril. It is 65 big gbosas to Nigeria’s most revered political colossus, still standing tall at 65!

WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

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FEATURES

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

‘I Regret Not Listening to My Mother’ Operatives of the Lagos State Police Command’s Rapid Response Squad recently arrested a member of the one-chance robbery gang, Ajibola Alao. Femi Ogbonnikan who spoke with the 29-year-old suspect, reports

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his is not the best times for Ajibola Alao, a 29-year-old armed robbery suspect who is currently cooling his feet in the protective custody of the operatives attached to the Rapid Response Squad (RRS), Lagos State Police Command. Alao, a member of a 'onechance' robbery gang arrested by operatives of the Rapid Response Squad, disclosed that his failure to heed his late mother’s advice not to take other peoples’ sweat led to his arrest.

The arrest of Alao, followed a hot chase launched after him on Thursday, February 10, 2017, during one of their routine operations within Oshodi axis, shortly after they had dispossessed their lone passenger of his two phones and a sum of N61,000:00 found on the victim.

An informed police source at the RRS Headquarters, Alausa Secretariat, Ikeja, hinted that the suspect, in company of the driver and conductor of their operational bus, a Volkswagen transporter bus, with the registration number, APP 820 XE (Lagos), had picked up the passenger, identified as Asotie Benedict, at Ladipo bus stop, having agreed to stop for him to alight at Oshodi Under flyover.

According to the source, instead, Alao and his accomplices, armed with an alternative plan did not stop under the Oshodi Under flyover for him to alight, but rather sped off.

Citing the presence of LASTMA at that Bus Stop, as an excuse, it was gathered that they pretended they were ascending the bridge towards Oshodi Oke, at a point they dispossessed Asotie of his two mobile phones (a Blackberry Passport and a Samsung set) and his wallet containing a sum of N60,000.00, before forcing him to alight, while the vehicle was in motion.

According to Asotie, 24-year-old, “after throwing me out in motion, they threw my N100.00 fare beside me on the road, perhaps, for me to find my way back home. But, I didn’t give up, I chased the danfo bus.

"Fortunately, I sighted RRS vehicle, marked with Response 091 and I quickly alerted them and they chased after the vehicle to a halt.

They arrested Alao, who took all I had on me, but the driver and the conductor abandoned their vehicle and narrowly escaped.”

He added, “all they took from me were found on him and some additional phones, which he disclosed to the police they took from previous victims of their operations.”

Alao, in his confessional statement, said he is part of a three-man one-chance gang and that the two additional phones found on him belonged to two previous victims of their operation in Oshodi.

“I have been in the business of one-chance since 2015. At a point, I stopped and began pick-pocketing, joining buses to Sango, Agege, Oshodi, Apapa and other places, disembarking whenever I have fleeced commuters of their phones and money.

At a time, I was arrested at Mushin Olosa Police Station where I was detained for three days. My mum, who was very ill and on admission in a hospital at that time, was

I have been in the business of one-chance since 2015.

At a point, I stopped and began pick-pocketing, joining buses to Sango, Agege, Oshodi, Apapa and other places, disembarking whenever I have fleeced commuters of their phones and money

Alao, a notorious one-chance robbery member arrested by the operativs of RRS of the Lagos State Command

Alao and his operational danfo bus

Stolen items recovered from Alao

brought to see me in the cell of the police station in a chattered cab.

“She pleaded with the officers and secured my bail. She warned me repeatedly never to take what does not belong to me, but I didn't heed her advice.

“She told me that if I have been making money through other peoples’ sweat to foot her hospital bills, I should stop it forthwith.

She insisted that if I want to live long, I should stop stealing what belongs to other people.

She added that the consequences would be too severe and grave for me if I go back into it again. But few weeks later, after the incident, she died.”

He continued: “I did it then, because I

needed N140, 000 to renew my house rent.

At this time, I got more than that from a week operation but I didn’t stop at that. Now, I went back into it to help, raise funds for my siblings, so that they won't follow the same path I have taken to.

"I am the first child and the breadwinner of the family. Since the death of my mother, I have been taking care of my brothers. That was the promise I made to my mother that I would take care of my younger siblings, before she passed on.”

He added, “Most of my colleagues in the business were arrested by RRS last year. Few ones who were not arrested relocated to other states for fear of arrest by the RRS operatives

who have been leaving no stone unturned to have a crime-free centre of excellence.”

While confirming the incident, the Lagos State Police Public Relations Officer, Dolapo Badmos, Superintendent of Police (SP), disclosed that the Command will not rest on its oars in nipping in the bud the criminal activities of hoodlums who want to give the residents of the state sleepless nights.

She, however, added that the Lagos State Commissioner of Police, Mr. Fatai Owoseni, had directed that the lone suspect be transferred to the operatives of the State Criminal Investigation Department (SCID), Panti, Yaba, for further investigations, in a bid to track down the two other fleeing suspects.

WEDNESDAY, MARCH 29, 2017, Ëž T H I S D AY

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PERSPECTIVE

Sexy Dressing Can’t Deliver the Feminist Strategy Adaku Efuribe writes about indecent dressing and feminism

Example of indecent dressing

'I don’t think feminism, as I understand the definition, implies the rejection of maternal values, nurturing children, caring about the men in your life. That is just nonsense to me’ – Hillary Clinton

I

nternational Women’s Day (IWD) is a day set aside to celebrate the achievements of women as well as campaign for their rights as regards to gender inequality and discrimination.

The aim is to achieve full gender equality for all women. A gender pay gap persists across the globe and women are still not present in equal numbers in business or politics. Figures show that globally, women’s education, health and violence towards women are still worse than that of men.

According to the World Economic Forum, the gender gap won't close until 2186.

On IWD, women across the world come together to tell the world to recognise these inequalities and also celebrate the achievements of women who have overcome these barriers.

A lot of people talk about feminism on this day as well as fight the course of women across the globe.

Feminism can be defined as the advocacy of women's rights on the ground of the equality of the sexes.

I chose to talk about indecent dressing at a time like this as this is one of the issues that always water down the feminism struggle and advances I believe.

In our world today, women are meant

to believe that indecent dressing is the way to go, those that call themselves celebrities, allow themselves to be dressed up by different designers who want to showcase their art.

In my opinion, the female body needs to be well covered, we should leave some imaginary images, we should not bare it all just to follow the trend.

In as much as I believe so much in the advocate for feminism, we also have to talk about indecent dressing, it worries me, the way women are portrayed in adverts, movies and musical videos, the ‘super stars’ tend to dress in a ‘sexy’ way as they call it. It is a common thing these

In our world today, women are meant to believe that indecent dressing is the way to go, those that call themselves celebrities, allow themselves to be dressed up by different designers who want to showcase their art. In my opinion, the female body needs to be well covered, we should leave some imaginary images, we should not bare it all just to follow the trend

days to see adverts on cars showing women wearing only their lingerie or swim wear.

I have gone through a lot of heated debates with different people; many people still believe that without dressing in a sensual way, art, musical videos and adverts cannot make the desired impact or sales.

I do not believe so, there are a lot of pop stars out there that do not engage in what I call indecent dressing. For instance, the talented musician Adele has a fantastic voice and is one of the best singers of our time. I like her voice as well as the way she carries herself, as regards her dress sense, this is just my personal opinion and I appreciate the fact that everyone is entitled to his or her own opinion.

When I see some female pop artistes dressing scantily or wearing their underwear (bra, pant or lingerie) during performances, it worries me. It makes me wonder if the focus is the song, talent or the body.

The world seems to call it costume, I call it indecent dressing.

For women to gain the respect they are clamouring for in terms of feminism and gender equality, we should also look inwards and discourage indecent dressing. There is an old saying that ‘dress the way you want to be addressed’.

We should teach our young girls how to dress decently. Parents should teach their children the values of good dress sense.

I do not believe for a music video to be sold, women dancing or featuring in such videos should be scantily dressed.

I have watched some trending music videos which do not feature scantily dressed women dancing in a provocative way and the music still sold as well as attracted the target audience. Nudity in music videos does not in any way help to sell such videos as far as am aware.

A good example is one of the music videos by a popular Nigerian musician called Davido, in his official ‘Skelewu’ video, there were no indecently dressed women featured and the music still sold millions of copies worldwide as I am told.

I will encourage the feminism advocates to look inwards and see if there are things women need to adjust in the way they portray themselves in terms of dress sense.

I support feminism and what it stands for, I abhor work place discrimination, gender inequality etc., but at the same time I do not encourage indecent dressing by women. Every woman should strive for excellence in everything she does, in that way we can earn more respect.

If we must advocate for feminism, we must also portray good virtues and value systems for the world to see.

I will enjoin all women to begin to look inwards and ask themselves if there are things they do that give out the wrong impression, especially indecent dressing. t&GVSJCF EPVCMFT BT B /JHFSJBO #SJUJTI $MJOJDBM 1IBSNBDJTU *OEFQFO EFOU 1SFTDSJCFS BOE )FBMUI 1SPNPUJPO "NCBTTBEPS XIP BEWPDBUFT GPS CFUUFS IFBMUIDBSF TZTUFNT GPS BMM

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IMAGES

L-R: Head of Reserve, Diageo, Joe Nazzal; new Ciroc Nigeria Ambassadors, Augustine Miles (Tekno);Toke Makinwa; Olubankole Wellington (Banky W); and Portfolio Director, Spirits - Diageo, Adenike Adebola at the unveiling of new Ciroc Ambassadors in Lagos, ....recently sunday adigun

L-R: Executive Director,Engineering/Sales, Gennex Technologies, Mr. Tunji Tayo; and Admin/Sales Manager, Petrocam Trading Nigeria Ltd, Eyo Oghogho; during a media brieďŹ ng after the opening of Petrocam third Solar Service Station powered by Gennexi in Lagos...recently Kunle ogunfuyi

Oyo State Governor, Senator Abiola Ajimobi;(left) and a member of the House of Representatives and project facilitator, Hon. Saheed Akinade-Fijabi, during the inauguration of the Federal Government funded ICT Resource and Data Centre at the Oyo State College of Health Science and Technology , Eleyele, Ibadan...recently

Ëž Í°ÍˇËœ Í°ÍŽÍŻÍľ

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

L:R Former Commissioner for Finance, Rivers State; Dr. Chamberlain S. Peterside; Senior Special Assistant to the President on Foreign & Diaspora, Honorable Abike Dabiri; Popular Blogger; Linda Ikeji and Chairman, Phillips Consulting, Foluso Phillips; during the launch of the Most Inuential People of African Descent [MIPAD] in Lagos...recently.

L-R: Vice president, Interior Designers Association of Nigeria (IDAN), Ifeyinwa Ighodalo; Past president, International Federation of Interior Architect/Designers (IFI), Shashi Caan; President, IFI, Sebastiano Raneri; and president, IDAN, Titi Ogufere, at the press conference to announce the 2017 African Culture and Designers Festival in Lagos... recently

L-R: President, Aviation Round Table; Elder Gbenga Olowo, Minister of State for Aviation, Senator Hadi Sirika and the Minister of Information and Culture, Alhaji Lai Mohammed at the Aviation Round Table in Lagos...recently

L-R Executive Producer, The movie 76, Prince Tonye Princewill; Nollywood Actor/ 76 Cast, Ramsey Nouah; Nollywood Actress, Rita Dominic; BAFTA Award-winner for ‘Best British Short Animation ďŹ lm’, Yinka Edwards and 76 Coexecutive producer, Adonai Owiriwa; during an eveing with Edwards by 76 cast in celebration of his BAFTA Award, in Lagos...recently. kunle ogunfuyi

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WEDNESDAY, MARCH 29, 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 Marriott Hotels Expands to Mauritius

FARE THEE WELL

L-R: Marketing Personnel Industrial and General Insurance Plc, Mrs. Assumpta Udoh; Chairman, Nigerian Insurers Association, Mr. Eddy Efekoha and a former Managing Director, FBN Insurance Brokers, Mr. Fidelis Ojeah, at the farewell party for Ojeah by FBN Insurance Brokers in Lagos …recently

Marriott International has announced plans to launch its cuttingedge Aloft brand (in the capital city of Mauritius with the signing of Aloft Mauritius Port Louis. Slated to open in early 2019, the hotel will be the brand’s first adaptive reuse project in Africa.

Located in the central business district area of Port Louis, the existing nine floor office building will transform into the city’s newest destination sensation complete with 150 spacious, loft-like rooms, accessible technology and a hip, social atmosphere.

“The signing of Aloft Mauritius Port Louis underscores the unstoppable momentum the brand has been garnering and our strategic commitment to grow the Aloft brand in key destinations around the world,” the President and Managing Director, Middle East and Africa, Marriott International, Alex Kyriakidis said.

“With its urban design aesthetic and appeal to savvy travelers, the Aloft brand is particularly suited for adaptive reuse and in today’s challenging economic environment, projects like this one can offer developers significant advantages. We are delighted to see the Aloft brand debut in Mauritius and see many opportunities to use this approach as an important growth channel allowing us to enter even more markets, more quickly.” Owned by Green East Master Limited, Aloft Mauritius Port Louis is ideally located in close proximity to Le Caudan Waterfront district, the dynamic city center pulsating with activity including leisure, shopping, entertainment and a marina. Designed for today’s always on the go and in the know traveler, Aloft Mauritius Port Louis will introduce stylish and affordable accommodation and amp up the island’s hotel scene with tech-forward features, distinctive design and buzzing social spaces.

Group to Host Realtors

UBA, Stanbic IBTC’s Impairment Charges Hit N47.5bn Goddy Egene United Bank for Africa Plc and Stanbic IBTC Holdings Plc have set aside N47.48 billion to cover bad loans in their 2016 financial results. The provision showed a jump of 138 per cent compared to N19.9 billion they set aside in 2015.

Access Bank Plc, Guaranty Trust Bank (GTBank) Plc and Zenith Bank Plc, had reported a total loss provisions N119.59 billion, indicating an increase of 183 per cent from N42.297 billion in 2015.

However, when UBA and Stanbic IBTC released their audited results last week,

CAPITAL MARKET they followed the same trend of rising impairment charges as a result of the economic headwinds that had affected some of their debtors.

A breakdown of the impairment charges showed that UBA made the higher provision of N27.68 billion, which is a significant jump from N5.06 billion in 2015. That of Stanbic IBTC rose from N14.9 billion to N19.8 billion.

Despite the huge impairment charges, both financial institutions ended the year with higher profit after tax

(PAT). For instance, Stanbic IBTC Holdings grew its PAT by 51 per cent to N28.52 billion, from N18.891 billion in 2015.

UBA’s PAT rose by 22 per cent from N60 billion to N72 billion in 2016. Based on the performance, the Board of Directors of UBA proposed a final dividend of 55 kobo,, bringing the total dividend to 75 kobo per share for the year.

The bank had earlier paid an interim dividend of 20 kobo.

Commenting on the results, the Group Managing Director and Chief Executive Officer of UBA, Kennedy Uzoka expressed satisfaction at the resilience of the bank, despite the macroeco-

nomic challenges in a number of countries where it operates.

He said: “Given the operating environment in 2016, I am very pleased with our profitability - an impressive 32 per cent growth in profit before tax to N91 billion - whilst we have also focused keenly on operational efficiencies, illustrated by the reduction in our Cost-to-Income Ratio.”

Speaking on the bank’s outlook for the 2017 financial year, Uzoka said: “As we implement our Customer First Philosophy, we are approaching 2017 with real optimism, especially with Continued on page 24

Report: Exchange Rate Stability, Surest Way to Restoring Investor Confidence Obinna Chima For Nigeria to realise the much-needed investor confidence required to stimulate its economy, limit inflation and ensuring the availability of goods, it must ensure that it achieves exchange rate stability, a report by the Financial Derivatives Company Limited (FDC) has stated.

It also advised the federal government to shun policy inconsistency, political interference and rigid market controls, which it stated had kept investors on the sidelines.

“Once these challenges are tackled, there will be increased inflow of portfolio funds and direct investments. This will

ECONOMY provide alternative sources of dollars, at a time when the future of oil prices remains volatile and uncertain,” the FDC added.

The FDC, which stated this in its latest economic bulletin released on Monday, pointed out that stability in the foreign exchange (forex) market, both in rate and availability, is critical for the economy. It pointed out that exchange rate affects the import bill, while forex availability affects the import levels.

Where rates are tumbling, currency depreciation is usually passed on to retailers or end-users in the form of higher

prices, which translates into inflation, the report noted.

According to the FDC, when forex is simply unavailable, it limits the number of goods that can be imported in the first place. “This kicks off a vicious cycle of supply shocks and imported inflation. Thus, when oil prices started their free fall in 2015, running the government forex coffers dry, the non-oil sectors were left helpless and unable to perform. If interest rates were at a record low but forex remained scarce, economic activity would continue to contract.

“Import dependent businesses – e.g. trade, manufacturing, construction – are unable to operate without forex. The

same goes for firms/sectors that need forex for regulatory fees and servicing foreign loans e.g. telecoms, aviation, financial services and fast moving consumer goods. These sectors contribute a combined 52.43 per cent to the Gross Domestic Product (GDP) and when forex is scarce the risk of default on loans is high.

“This raises the number of non-performing loans (NPLs), caps financial service performance, discourages future lending and ultimately dampens investor confidence. Thus, it follows that since the economy is so vulnerable to exchange rate liquidity, a policy that reforms the forex market to boost dollar Continued on page 24

Organisers of one of Nigeria’s largest real estate exhibition and trade show – the T.A.G EXPO have concluded plans to host realtors at a stakeholders’ breakfast session in Lagos today.

The group would also use the opportunity to launch a series of activities ahead of the 2017 edition of its expo. A statement explained that stakeholders in the real estate market will get a chance at this year’s edition to network with Nigerians in USA and UK, while presenting tailor made property and Real Estate solutions that suit the needs of the Nigerian in Diaspora. The Chief Marketing Officer of T.A.G Nigeria, Michael Ejoh said: “The goal of the expo upon its setup was to visit several locations over different periods of a given year.“This year, we are having the expo in Summer (as against Winter last year) to allow more Nigerians in the Diaspora participate. We have proposed a long term execution plan that will allow more individuals to experience the Fair independently, as well as get on board the exhibitors mailing lists”, Ejoh said.

Lagos Woos Investors

As part of efforts to woo investors to the state as well as to commemorate the state’s 50th anniversary, the African Fashion Week Nigeria in partnership with Lagos State Government is set to host the first ever iconic Catwalk Show. The show will have its first debut on April 1st 2017 at the National Arts Theater, Iganmu and at Tinubu Square on April 2nd 2017 whilst the main edition of the Africa Fashion week 2017 will hold on May 25th 2017.The event, according to a statement, is a unique opportunity to gain insights, appreciate the beauty, versatility of Nigerian fabrics and fashion while showing the world a glimpse of Nigeria’s rich heritage and culture. It will spotlight talented designers expressing how traditional culture brings modern spirit to fashion against the splendor of these heritage sites..The founder of the Africa Fashion Week London and Nigeria, Ms. Ronke Ademiluyi expressed delight in partnering with the Lagos State Government and the opportunity availed for the use off its historic locations for the show, stating the events will provide a unique platform for media showcase and interaction with the designers as they share the vision for the Nigerian fashion and tourism industry through clothing and accessories which has formed an inseparable part of Nigeria’s fashion culture and story.

Nigeria needs to build an economy that is not only resilient, but globally competitive. We have been focused on that since taking office, through our Strategic Implementation Plan

Minister of Budget and National Planning

Udoma Udo Udoma

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WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

BUSINESSWORLD UBA, STANBIC IBTC’S IMPAIRMENT CHARGES HIT N47.5BN the outlook remaining positive in many of our markets, where we benefit from our increasingly diverse revenue streams. We reiterate our pledge to delivering excellent service to our customers, and remain committed to creating superior and sustainable return for our shareholders.”

Speaking in the same vein, Chief Financial Officer (CFO) of UBA Group, Ugo Nwaghodoh said, 2016 performance reflected the strong potential and resilience of the bank’s business.

“We grew top and bottom lines by 22 per cent and 32 per cent respectively, despite the stagflation in Nigeria, our core market. Reflecting improved balance sheet management and better value extraction, our net interest margin (NIM) improved to 6.7 per cent,” he said.

REPORT: EXCHANGE RATE STABILITY, SUREST WAY TO RESTORING INVESTOR CONFIDENCE availability is the most useful tool for reviving the economy right now,” it added.

The CBN has expressed its commitment to boost supply in the forex market. And in keeping with its determination to increase liquidity in has so far flooded the market with an estimated US$2.180 billion in cash and currency forwards since late February.

This amount does not include its daily intervention of $1.5 million on the interbank market. Owing to this, the naira exchange rate, which depreciated by 76 per cent on the parallel market in 2016 due to scarcity of the greenback, has appreciated by 27 per cent in the last one month, since the new policy was announced.

The naira moved from as low as N525 to the dollar a month ago to about N385 to the dollar on Monday.

“While this is a welcomed development, the fact that oil receipts remain the major contributor to forex earnings, the question arises: how sustainable is this effort? Policy makers need to simultaneously focus on the fundamental issues: market structure and investor confidence.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

FBN General Insurance Announces N2.2bn Premium Stories byEbere 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)

company’s total assets within the period stood at N6.1billion showing 11.9 percent increase from the N5.3billion it had last year.“In a year where economic uncertainties badly affected many companies’ asset base, we were able to increase ours by almost a billion naira.

This is an indication of our strength in depth arising from a solid heritage and consistent investment in quality staff,” Opadokun reiterated.

Opadokun, took over the mantle of leadership of FBN insurance mid last year, when he was appointed Managing

Director of the company in a move many saw as a strategic step towards driving the erstwhile Oasis Insurance to better profitability.

Acquired in 2014, FBN General Insurance is a wholly owned subsidiary of FBNInsurance Limited, an FBNHoldings company associated with the Sanlam Group SA. Meanwhile, the firm’s parent body, FBNInsurance Limited has announced profit Before Tax of N3.13 billion in its financial report for the year ended December 2016. The report has been approved by the industry

regulator, National Insurance Commission (NAICOM).

According to figures obtained from the financial statements, the company’s profit before tax (PBT) increased by 70 per cent from N1.8 billion in 2015 to N3.13 billion in 2016 while the gross premium written (GPW) dropped by four per cent from N10.3 billion in 2015 to N9.9 billion in 2016.

Managing Director/Chief Executive Officer of the company, Val Ojumah, commenting on the results, attributed the strong performance to a combination of factors including deployment

of innovative products, deeper retail penetration, robust risk management, efficient service delivery and the commitment of its staff.

“Our overall performance indicates a strong earning capacity and robust capital base to sustain future growth. For instance, our Return on Equity (RoE) improved from 18 percent in 2015 to 29 percent in 2016 and Return on Assets (RoA) grew from nine in 2015 to 11 percent in 2016.

“Our underwriting margin also remained positive throughout the year,” he concluded.

FBN General Insurance has announced gross premium of N2.2billion from its 2016 business activities.

The firm’s audited financial statements showed that it had maintained upward movement in business performance as the 2016 financial performance, indicates 17.4 percent growth from the N1.8 billion premium, it grossed the previous year.

The report however showed that its claims expenses rose by 24 percent from N205million in 2015 to N270million in the year under review. This, the company said, was a direct reflection of shrewd management efforts at expanding the company’s client base, excellent underwriting capabilities as well as increased customer acceptance of the brand.

Commenting on the performance, Managing Director/ CEO of the company, Bode Opadokun, said: “Insurance thrives on trust. You will agree with me that payment of claims is perhaps the best way for an insurance company to demonstrate it is worthy of the customer’s trust. That we paid more claims this year than the last, shows our customers trust us more and are willing to allow us bear more of the risks they would normally bear themselves. This lends credence to the widely known fact that we are not just a responsible insurer, we are responsive and committed to our policyholders’ wellbeing at L-R: Executive Director, Sterling Bank Plc, Mr. Kayode Lawal; Chairman Aarti Steel Group Africa, Mr. Harish Verma; Executive Director, all times.” According to details Sterling Bank Plc, Mr. Grama Narasimhan and Business Executive, Corporate Banking Group, Mr. Adeoye Paul-Taiwo, during a courtesy of the audited accounts, the call on the Bank by the Executive Management of Aarti Group in Lagos ... recently

COURTESY VISIT

NAICOM to Release Guidelines for Reactivation of Brokers’ Lapsed Licenses Ebere Nwoji The National Insurance Commission (NAICOM) has said it will at the end of this month, release the guideline for brokers to activate their lapsed licenses. This is as it said it has commenced the process of signing agreements with operators and regulators of insurance distribution channels for collaboration in deepening insurance penetration nationwide.

The Commissioner for Insurance, Mohammed Kari, who disclosed this in an interview with THISDAY, said the commission is working globally on enforcement of all compulsory insurances and has perfected plans to release guideline on the use of non-regulated potential intermediaries in the distribution of insurance.

The commission, had mid last year, suspended the use of non regulated distribution channels in selling insurance,

insisting that if such channels like banks will be used for insurance distribution, they must be license for such purpose by the commission; a situation, which the Central Bank authority resisted.

Since then, use of banks in insurance selling was put on hold just like use of mobile network operators. NAICOM, in place of these, came up with alternative channels of distribution and those it referred to as referrals which include stock

brokers and lawyers.

But the Insurance Commissioner, told THISDAY that the commission, has signed agreement with the Central Bank of Nigeria, Telecom operators, National Pension Commission among others for their participation in insurance distribution process.

On brokers, the commissioner, said the window given to brokers to acquire new licences in their old names was for a short time.

He said the commission is coming up with reviewed guidelines on intermediaries like brokers, and distribution channels.

“The window given to the brokers with lapsed licences is not a perpetual window. It is just for a period. Already, the group of intermediaries have readjusted themselves.

They now apply long before time. Most of them now get their licences renewal by the expiring date.

Continental Re Announces 60% Growth in Profit Ebere Nwoji

Comms/e-Business Editor

Emma Okonji

NEWS

Continental Reinsurance Plc, has announced 60 percent growth in its profit before tax (PBT) from N2.92 billion in 2015 to N4.65billion in 2016.

The company’s Gross premium income, also showed 14 percent growth from N19.7 billion in 2015 to N22.41billion in the year under review.

Commenting on the results, its Group Managing Director of Continental Reinsurance, Femi Oyetunji, said in a challenging macro-economic and

market environment across the continent and adverse claims experience resulting from significant outlays on a couple of large property claims in Nigeria, underwriting performance of the company was muted.

He however said the group’s net investment and other income improved substantially from N1.85billion in 2015 to N4.87billion in 2016, showing 162 percent increase.

He said underpinned by a strong investment result bolstered by gains on hard currency assets, underwriting

profit of the company for 2016, stood at N414million, down from N 2.05billion in 2015.

Oyetunji said despite varied developments and widely contrasting fortunes in individual business lines in the company’s underwriting portfolio, its geographic diversity and varied asset mix, the company continued to see steady growth and profitability in some regions and overall, maintained strong group performance.

“The global commodity price melt-down and its impact on the hydro-carbon sector and

the devaluation of the Naira, remained disconcerting factors for the business”, he said.

According to him, market analysts believe that current local intervention strategies and the upturn in the global economy, justify general optimism regarding a sustained turn around and a recovery and repositioning of the Nigerian economy for greater productivity and growth.

“It was the realisation of the likelihood of shocks in our principal market, and vulnerability to portfolio concentration that

made us commit to diversification as a core element of our strategy. “We continue to see stability and strong attraction in specific locations across our network and our pan-African footprint allows us ample room to counterbalance local volatility and hedge down side risks in our investments portfolio”, Oyetunji explained.

He added: “We will persist in our efforts to grow our business by expanding our client base, building partnerships, and excelling in localised service delivery.

WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

25

BUSINESSWORLD

NEWS

Ekiti Reads Rio Act to Nine Defaulting Micro-Finance Banks Victor Ogunje in Ado Ekiti Ekiti State Government, has issued a 15-day ultimatum to nine micro-finance banks involved in the disbursement of the CBN’s Special Purpose Vehichle on small and medium enterprises (SME) micro loans in the state to pay back or be sanctioned .

The defaulting banks are: Consistent Trust, Ijesa-Isu Ekiti; EK Reliance, Ikole Ekiti; Omiye Micro Finance Bank, Ilupeju Ekiti; Transwealth, Ado Ekiti; Sunbeam, Efon-Alaaye and Aramoko Micro Finance Bank, Aramoko Ekiti, Iyin Micro Finance Bank, Iyin Ekiti; Ulayin Bank, Ado Ekiti and Amoye Micro Finance Bank, Ikere Ekiti.

Speaking in Ado Ekiti, the Commissioner for Finance and Economic Development,

Chief Toyin Ojo, who is also the Chairman of the Recovery Team vowed that all the affected banks must recover the loans they disbursed and remit same to specified account of the State Government by the end of March, 2017.

Emphasising that all undisbursed money from the first tranche still with the Finance Banks must be paid back into the designated account within the 24hours, Chief Ojo said that “defaulting banks would also not be allowed to participate in the disbursement of the second tranche of the loan which he said would soon be accessed”.

He warned that “failure to repay the loan would not only deprive other potential beneficiaries from enjoying the largesse but may kill the laudable initiative designed to empower the people and

boost the economic base of the society”, he said.

Meanwhile, wife of the Governor , Mrs. Feyisetan Fayose, has blamed gender inequality and discrimination against women on culture and tradition. Speaking in Ado Ekiti at a one-day workshop organised for female lecturers in Southwest Nigerian Universities, she advocated a change in the gender imbalance; saying that God realised that man alone could not carry out His plan hence the creation of the woman to compliment him.

Fayose, who was represented by the wife of the State Head of Service, Mrs. Omotola Faseluka said the issue of discrimination against women has called the attention of the International community which had made efforts towards resolving the problem of the status of women.

Red Star Pledges Courier Services to Abuja Despite Airport Closure An indigenous courier and logistics company, Red Star Express Plc has assured its clients and customers nationwide that the closure of the Abuja Airport would not affect its business.

Abuja is a major destination for all courier business. Most packages emanate from Lagos and other economic cities such as Port Harcourt, Kano, Kaduna, Ibadan for next day delivery to the Federal Capital Territory (FCT), while others

transit through Abuja to core northern states. The FCT also generates a lot of traffic in terms of shipments going to other regions which makes the Abuja Airport very vital for smooth operations in the courier industry.

The Assistant General Manager (AGM) Operations and Services, Mrs. Inemesit James-Okoro, she stated that Red Star Express has in place, modalities that ensure prompt deliveries of client’s

packages anywhere in major cities across the country. She explained that apart from the option of land transportation, there are other air services to neighbouring cities around the FCT to facilitate early morning deliveries.

“We are out to provide speed, reliability and ‘peace of mind’ for customers shipping in and out of the FCT during the closure of Abuja Airport as announced by the Federal Government,” she stated.

StarTimes Integrated DTV Set to Enhance Digital Migration Emma Okonji With barely three months to the June 2017 deadline for digital migration, otherwise known as Digital Switchover (DSO), Pay-TV giant, StarTimes has assured Nigerians of its readiness to ensuring that Nigeria meets the new deadline, having missed similar deadlines in 2012 and 2015 respectively.

The company at the weekend in Lagos, said its latest product, the integrated Digital TV, which it introduced into the Nigerian market few months ago, would enhance the digital migration landscape, particularly helping families across Africa to connect smartly to the digital TV era, and at the same time, assist government in meeting the June 20, 2017 deadline, set for Nigeria by the International Telecoms Union (ITU).

StarTimes Nigeria Chief Operating Officer, Mr. Tunde Aina, who gave the assurance at a media chat, explained that “One of the lofty attractions of the 21st century is the ease that advanced technologies offer and particularly exciting is how innovations buoyed by technology makes life more comfortable and worth living.

With the innovation that StarTimes integrated digital TV brings to the fore, Nigerian and African families whether in the rural or urban areas can

easily switch to digital TV with much ease without the rigour of procuring analogue TV sets, set-top boxes, wiring and other accessories. The StarTimes Digital TV which offers an integrated solution with one product can thus help a great deal in leap-frogging the nation’s spirited plans to connect many Nigerians with the digital TV and its huge attendant benefits faster.”

Aina further explained that with interesting features deliberately planned to enhance user experience, the DTV is an exciting offer.

He enumerated features such as 50 per cent lower energy consumption than the CRT TV, upgradable operating system, maximum thickness of 70mm and the minimum thickness of 13mm, 2 HDMI ports, full HD LED screen with 5MM Bezel, 1920:1080 resolution rendered at 8ms super-rapid response time and four viewing modes which guarantee vibrant and smooth viewing experience.

Aina said StarTimes Digital TV sets would be the game changer as StarTimes commits itself to providing customers with the most endurable Digital LED TVs and the most splendid viewing experience, integrated with the cutting-edge technologies. Clarifying what digital television is, the StarTimes boss said it was wrong to call a

device a digital TV when it still needs help of Set-Top-Box (STB) to decode digital signals.

He explained that StarTimes Integrated Digital TV has all the features of a digital device, since it has the capacity to receive signals of FTA channels, DTT and DTH services without connecting to STB. “StarTimes Digital TV is another core product that StarTimes launched to help African families to achieve the key and last step of digital migration. It serves as a perfect option for customers to upgrade their TV sets from analogue to digital,” Aina said, adding that the StarTimes Digital TV adopts intelligent operation system, which supports remote system maintenance and upgrade.

The intelligent operation system will ensure that the digital TV can always run in optimum state and upgrade newest services of StarTimes.

According to Aina, the vision of StarTines as a leading Pay-TV operator in Africa, is to make digital-TV products and service affordable for every African family. StarTimes’ contents cover diverse categories to meet the great needs of African markets, which include news, sports, music, entertainment, documentaries, TV series, movies, religion, fashion, children’s programming and local channels.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Why Are We So Poorly Served?

In recent times, I have been pondering about the poor service we always seem to get in Nigeria. Irrespective of the industry, the service is poor. Is it cultural? Is it that we do not have anywhere or a platform to complain and demand good service?

Let’s take a number of instances I have suffered from bad customer service. I am sure that I am not a lone sufferer of these episodes of poor service. I went to a five star establishment the other day. I’d say it’s a foremost Chinese restaurant in Victoria Island. The service I received from the restaurant was deplorable. The waiters were in short supply. I found it strange for such a large organization. Orders were poorly executed. The time between each course was perennial. Getting your bill and paying was a herculean task. I do not believe getting served needs to be this stressful. I left there feeling more tired and despondent than when I got there. My family and I had gone there to celebrate, but left with deflated spirits.

I am really concerned! Take telecoms for example. I use two operators and still get poor service. Calls constantly drop; are not clear or just never get through. What about broadband? As you all know, the internet is now a necessary work tool and many businesses must be online to survive.

I have two broadband operators that do not work and contemplating getting a third one out of desperation to ensure I am online.

Yet, at the end of every month the line goes off and I have to pay, despite the fact that I had no service.

Or is it the banking sector? There is a particular bank with a large retail customer base whose online platform is the only point of recourse because its banking halls are always overflowing and rowdy. Its online platforms are a nightmare to use. The platform is cumbersome to navigate. You must register a new beneficiary each time and go through several stages to execute a transaction. On the off chance that you succeed, it times out and you have to start all over again. I find it time wasting and challenging. It’s like we are sentenced to suffer at the hands of service providers.

What about the pay per view operators?

They have a strong monopoly in this sector.

Many of us are forced to use the service of a particular provider and have no viable option to switch. Globally, it is rare to see any company dominating a segment the way this company has been allowed to dominate. Competition is absent and the cost is exorbitant. Why can we not have viable options in this segment? Why are we giving them the power to choke viable competition away? Why do we get billed when we do not watch? Why can it not be pay as you go?

This pay as you go option should also apply to broadband. The cost of getting broadband is so expensive compared to other climes.

Not to mention the poor service. What is government doing about anti-competition rules? Why are these unfair trade and pricing practices not being checked? We suffer a double whammy of poor service at an exorbitant price. No wonder people are getting frustrated and depressed.

One question that keeps reverberating as I write this is “why do companies not take customer service seriously or as seriously as they should? Many fail to understand the hidden long-term ‘costs’ of poor service that include costly customer word of mouth or mouse and reputational damage.” according to Professor Berry, a marketing expert.

Berry believes that in many cases, companies are defining what customers want incorrectly. A good example of this is the bank with a very unfriendly online

platform I mentioned earlier. Their claim is that their platform is deliberately cumbersome to keep our money safe. I totally disagree, their platform is hellish and banks with simple and friendly platforms exist. I usually psyche myself before transacting business on their platfo The illustrations I have used above, some will say are somewhat complex. What about the everyday simple customer service requirements that we can say are easy to achieve but still seem unsurmountable to our providers? These are:

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Simple courtesy – I have had to correct receptionists, shop assistants, security guards who bark orders at you as you enter their organizations. Many of them do not greet you before they talk to you and have a challenge with saying “please” and “thank you”.

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Chatting with colleagues or on the phone – This should be a big No. But happens all the time. You find people chatting instead of attending to you. Unless it is very important all personal conversations should stop when customers are there.

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Arguing and shouting on customers – Many people forget that the customer is always right and should never be held in contempt.

We need to learn to patiently listen to the customer before dealing with the complaint rationally and calmly.

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Eating in front of customers – It is unprofessional to eat in front of your customers. I’ve smelt food in lobbies and receptions of big organisations or the “ogas” Secretary’s office. Eat your food in the cafeteria and do not talk to customers with your mouth full.

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Not making eye contact – It is considered rude when eye contact is not made with a customer when being served. It can also be construed as shifty and dishonest.

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Overpricing a product and poor service – This usually kills businesses. Many people will switch immediately, especially if they discover that on top of poor service you are over-priced. Paying more for poor service, when a product is priced above competition’s is unacceptable, particularly when it hurts your pocket.

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Talking down on customers with technical jargon – Telling me in difficult to understand language about a problem I am having with your product or service is off putting. Explain to me in simple clear terms and leave the technical jargon to other professionals in your field.

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Banging the phone and putting customers on hold – Many businesses put you on hold for long periods. Many times you end of hanging up because you are frustrated and upset about your time being wasted. Or you get a rude customer service officer who is impatient with you and cuts the phone. The list is endless and prevalent.

However, with commitment these are not difficult to overcome. By understanding and knowing what you are doing wrong as a business can greatly improve your customer service and improve your customer base which will boost your profit. Let’s take customer service seriously!

– 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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WEDNESDAY, MARCH 22, 2017, ˾ T H I S D AY

BUSINESSWORLD

EQUITIES WATCH

Cadbury Slips into the Red High operational and financing costs pushed Cadbury Nigeria over the edge in 2016, writes Goddy Egene Cadbury Nigeria Plc, manufacturer of confectionery and food drinks, used to be a leader, boasting of products that appeal to consumers years back. However, account overstatements scandal retarded the growth of the company and pushed it into loss position at a point.

Series of restructuring and management changes later restored the fortunes of the company and made it to bounce back into profitability.

In fact, in 2012 the shareholders started receiving dividend after seven years. But things are again getting bad for the company as it has returned to loss for the 2016, meaning that shareholders would have to wait for long to get dividend.

Before now, the parent company of Cadbury Nigeria, Mondelçz International, had made renewed efforts to sustain the positive performance of the company by appoint new managing directors (MDs).

Within one and half years, two MDs were appointed for Cadbury Nigeria. Mr. Roy Naaman, who was appointed in January 2015, was replaced by Mr. Muhammad Shamsi last year.

Namaan took over the running of Cadbury Nigeria January 2015 as the board appointed him to reposition the company for better performance.

When he was appointed, Mondelçz International said Naaman, as a highly experienced brand professional would lead the snacks group’s expansion in West Africa and deliver consistent and strong profit to shareholders.

“In Roy, we are very pleased to gain a highly experienced leader, with a strong track record in driving sustained and profitable growth. In his previous role, Roy was instrumental in spurring business expansion in southern Africa and the Caucasus. He is a most valuable addition to our company,” President, Markets, Eastern Europe, Middle East and Africa, Mondelçz International, Romeo Lacerda, had said.

However, the company under Shamsi is yet to deliver the goods as expected by the board and management.

2016 Financial Results In its audited results for the year ended December 31, 2016, Cadbury recorded a revenue of N29.979 billion in 2016, up by eight per cent from N27.825 billion in 2015. Cost of sales went up from N18.9 billion to N23 billion, bringing gross profit to be N6.86 billion, compared with N8.9 billion in 2015. Selling and distributing expenses stood at N5.59 billion, as against N5.6 billion in 2015, while administrative expenses increased to N2.058 billion, from N1.909 billion. Net finance cost stood at N169.98 million, compared with N156.796 million in 2015.

The company ended the year with loss before tax of N563 million, compared with profit of N1.577 billion. However, a tax credit of N266 million, reduced the loss after tax to N296 million, compared with profit of N1.15 billion. The market reacted negatively to the results as the share price fell by 5.0 per cent to lead price losers at the stock market.

Analysts’ Assessment According to analysts at Meristem Securities Limited, the weak earnings performance stemmed from higher cost environment witnessed in the year, as cost of bought-in raw materials increased by 23.07 per cent.

They added that the impact of the depreciation of the naira against the United States Dollar, as also affected the performance as the company imported 13 per cent of its raw materials in 2016.

Impact of Higher Cost of Raw Materials Direct costs also increased by 22.36 per cent, at a faster rate relative to revenue, resulting in a higher cost to sales ratio of 77.12 per cent compared to 67.91 per cent recorded in the previous year. The higher cost-to-sale ratio was majorly due to higher input cost in the year, as cost of raw materials increased by 48.38 per cent.

“Also, we note the impact of the depreciation of the naira against the US dollar in the year, following the introduction of the flexible FX system, as the company used about 13 per cent

of imported raw materials (milk and sugar) in its production. Conversely, opex ratio moderated by 1.53 per cent in 2016 to 25.53 per cent, relative to the previous year’s level of 27.06 per cent. Given our outlook on the FX, as well as the company’s operational efficiency drive, we expect a moderation in operating cost in 2017. Therefore, we forecast cost-to-sales and opex ratios of 73.01 per cent and 24.98 per cent respectively,” they said.

income increased by 19.79 per cent in the year. The pressure on LAT was cushioned by N0.27 billion tax gain (deferred tax liability write-back) from prior periods. Also, finance cost recorded was in relation to interest on overdraft, which was accumulated in the current year from a zero position in the prior year. Consequently, net margin pegged at negative 0.99 per cent from positive 4.14 per cent in 2015.

High Operation Cost Pressure on Earnings The company’s earnings slid to a loss position, with loss before tax (LBT) and loss after tax (LAT) pegging at N0.56 billion and -N0.30 billion respectively. LBT was largely dragged by higher direct costs, as well as the 100 per cent increase in finance costs, even as finance

Competition Tells on Flagship Product The hot chocolate drink maker’s revenue for 2016 grew to N29.78 billion, relative to N27.83 billion in prior year. Standalone result for fourth quarter (Q4) of 2016, showed that revenue increased significantly by 28.17 per cent, compared to performances recorded in Q1:2016 (+5.79 per cent), Q2:2016 (-8.24

CADBURY 2016 FINANCIAL SUMMARY

30

DEC.2016 N29.9Bn

DEC. 2015 N27.8Bn

25

DEC. 2015 N18.9Bn

20

15

10

DEC.2016 N3.1Bn

05

0

REVENUE

COST OF SALE

per cent) and Q3: 2016 (+6.82%). The company generated 91.29 per cent of its revenue locally, while the remaining 8.71 per cent was generated from exports to neighbouring African countries. Revenue segmentation showed that the beverages segment of the company’s business contributed 55 per cent (vs. 60 per cent in 2015), while confectionary and intermediate cocoa products accounted for 34 per cent and 11 per cent of total revenue respectively.

“The modest growth in revenue can be attributed mainly to price increases across major product segments, as Cadbury was able to pass some of its higher input costs to consumers amid the pressure on volume in the year,” the analysts said.

“In our opinion, the company’s modest performance relative to peers may be attributed to a comparatively lean product portfolio (Bournvita, Tom-Tom, Buttermint, AFC salted crackers and Tang drink), stiff competition facing its flagship product (Bournvita) in the market place, as well as the subsisting weak macro-economic fundamentals plaguing the Nigerian economy,” they added.

In a bid to retain its market share, reinvigorate its growth trajectory, and consolidate the gains of recent investments and breakthroughs, Cadbury identified four key strategic initiative, which include: a focus on increasing its market share in the powdered drink and candy categories, investment in innovation and expanding its product portfolio, maximising the use of the company’s robust route to market network, and building a strong talent team.

Valuation Adopting a blend of a blend of both absolute (60 per cent) and relative (40 per cent) valuation methodologies, analysts at MSL said they remained conservative in their outlook for the company.

“We reviewed our assumptions in the light of current economic realities, as well as the company’s renewed growth strategies. Consequently, we arrived at a full year 2017 target price of N10.14 (compared to the previous target price of N12.87), implying an upside potential of 35.32 per cent from the current market price of N7.49,” they said.

According to them, given the negative sentiments DEC.2016 DEC. 2015 that has pervaded the stock in recent time, they do N5.6Bn N5.6Bn not foresee a significant resurgence in share price over the short-term, as they anticipate a lead time before seeing the full impact of the company’s 4 DEC.2016 point strategy on performance.

DEC. 2015 N2.1Bn DEC.2016 DEC. 201 “Hence, we recommend that investors with N1.9Bn N296Mn N1.2Bn short to medium term investment horizon cut their losses on this stock, as the market may offer SELLING/DIST. ADMIN. EXPENSE LOSS/ PROFIT more suitable alternatives with more positive return potentials, therefore we place a “sell” EXPENSES AFTER TAX recommendation,” they said.

27

WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

BUSINESSWORLD

ANALYSIS

Enhancing Protection of Banks Depositors The House of Representatives Committee on Banking and Currency recently conducted a two -day public hearing on four bills, one of which is to ensure that depositors’ dormant funds in banks are not subjected to abuse. Damilola Oyedele reports Cognizant of the continuous need to ensure that Nigeria’s banking industry is at par with global standards, the House of Representatives Committee on Banking and Currency recently began the process of amending the banks and other Financial Institutions Act. The aim is to establish a deposit fund at the Central Bank of Nigeria, for the standardisation and management of dormant accounts, to avoid conversion of dormant funds into income, in line with best practices.

The bill is named “Bill for an Act to Amend the Banks and Other Financial Institutions Act to Among Other Things Establish a Deposit Fund at the Central Bank for Standardisation and Management of Dormant Accounts in Accordance with International Best Practices and for Other Related Matters.”

The amendment will mandate banks to engage customers, or next of kin, when an account is inactive, pool the dormant funds together into a suspense account if the dormant funds are not claimed after six months. It proposes the establishment of a Depositors Funds, domiciled at the CBN, where such funds would be transferred to after being in the suspense account for five years.

The Chairman of the Committee, Hon. Jones Onyeriri, at the opening of the hearing, noted that monies running into billions belonging to customers, who cannot operate their accounts for various reasons, including ill-health and death, remain in the possession of banks. He added that unscrupulous banks officials could convert such funds to other uses, or income, without the knowledge of the account owners or their stated next of kin.

Onyeriri therefore urged the officials of the relevant agencies to argue the cause of the bill, and three other bills, with a sense of patriotism, and in the interest of Nigeria.

Depositors Fund: To be or not to be?

The CBN, and the Nigeria Deposit Insurance Corporation (NDIC) disagreed on the whether a depositor funds should be established and domiciled in the apex bank.

CBN’s representative from its Legal Department, Mr. Kofo Abdulsalam-Alaga, lauded the idea as a welcome development, adding that the proposed amendment partly replicates the guidelines issued by the apex bank, on the management of dormant funds, and other unclaimed funds, by banks and other financial institutions.

He noted that it is necessary for the amendment to capture the management of dormant accounts when a bank in under liquidation, its license is being revoked, or where the status of the bank changes as a result of merger, acquisition or take over.

Abdulsalam-Alaga added that in line with global practices, banks and financial institutions should be mandated to disclose the processes of handling dormant accounts, and inactive accounts to their customers at the point of account opening.

“This will ensure that customers are aware of the process at the point of opening the account and thus help prevent any possibility of disputes between the bank and its customers in this regard,” he said.

His view, on the establishment of a depositors’ fund, was however countered by the NDIC Board Secretary/Director, Legal Department, Mr. Belema Taribo who noted that one of the primary duties of the agency, is to insure depositors funds.

“These funds are at risk, they are dormant.

The money should be warehoused by the NDIC, being that we are the insurer of funds, he said.

Taribo also advised that accounts operated by government ministries, departments and agencies should not be exempted, due to the unscrupulous practice by heads of some of the MDAs, who secretly lodge government funds in commercial banks.

Some of such accounts have become dormant

Onyeriri

for various reasons like the sudden sack of the head of the agency, or demise.

“Even though we have the TSA (Treasury Single Account) now, these accounts (belonging to MDAs) are still all over the place,” he said.

The other bills considered at the two day public hearing were: a Bill for an Act to Repeal the Peoples Bank of Nigeria Act; A Bill to Amend the Assets Management Corporation of Nigeria (AMCON) Act of 2010, to Expand the Board of the Corporation so as to Enhance its Efficiency in the Discharge of its Statutory Duties and for Other Related Matters; and, A Bill for an Act to Amend the Nigerian Sovereign Investment Authority (Establishment Etc.) Act 2011 to Align it with the Constitution of the Federal Republic of Nigeria, 1999, Restore the Sovereignty of

We would get out of recession any moment from now, with oil price increasing. But it would be a miracle if the government is able to return the GDP in US dollar terms back to the level it met it, even by 2023

the Naira as the National Currency Ensure Transparency of its Funding and Entrench Parliamentary Accountability and for Other Matters Connected Therewith.

AMCON Amendment Bill The proposed amendment to the Asset Management Corporation of Nigeria (AMCON) Act, proposes the additional appointment of six members, to the current 10 man member board, for geo-political representation.

The NDIC and CBN, adopted the same position to the proposal, and suggested that only three additional members should be appointed.

Abdulsalam-Alaga said appointing six extra members would make the board bloated and unwieldy, while Taribo suggested that the three members should be drawn from the Ministry of Finance, the CBN and the NDIC. AMCON’s Executive Director, (Credit) Mr. Kola Ayeye, said while there is no standard yardstick as to the size of any board, it should not be too large to make its deliberations inefficient.

Ayeye, seized the opportunity of the hearing, to propose several amendments to the AMCON Act, particularly an amendment that would ensure that all government contractors should be mandated to obtain clearance certificate from AMCON, prior to the award of any contract, or payment of outstanding dues, to the government.

He explained that the proposal has already been tested, and has assisted the corporation’s efforts with debt recovery in recent times.

“In AMCON’s N4 trillion portfolio, about

N700 billion is from the energy sector. In 2015, we made lots of recovery, in billions, from oil marketers, because the Minister of Finance (Mrs. Kemi Adeosun) instructed that they should not be paid unless they get clearance from AMCON. So debtors, who were not even talking to us, were forced to. But our experience last year (2016) was different: there are people who will get a term lifting contract of N10 billion and they are owing AMCON,” Ayeye added.

Mr. Kofo Abdulsalami Alada, backed the enactment of such legislation.

“If you are taking contract from the government, you have to obtain tax clearance, so why not a clearance from AMCON? “ he said The Chairman committee, Hon. Jones Chukwudi Onyereri said such proposal was a good one, and would ensure debtors contractors make efforts to repay or at least service their debts, instead of using available monies to invest in other sectors.

He directed AMCON officials to submit a draft bill for the amendment as soon as possible, for consideration by the House.

“Malaysia, following the establishment of its Malaysia Asset Management Corporation, did not allow any of its debtors enjoy government patronage, not even their families,” Onyereri said.

Other amendment proposed by AMCON “include the power to sell any asset subject of an equitable mortgage without recourse to the Court”, “the power to sell should be exercisable regardless of a mortgagor’s action in court to challenge the amount of indebtedness”, “money judgement should not be enforceable against AMCON without prior written consent of the Attorney General of the Federation.”

WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

28

BUSINESSWORLD

INTERVIEW

Ekundayo: The Business of Trusteeship Needs a Complete Overhaul In this interview with Nosa Alekhuogie, Managing Director/CEO of STL Trustees Limited, Funmi Ekundayo provides valuable insight into the industry’s offerings. Excerpts: Trustee business in Nigeria is evolving fast. Government and business owners are beginning to understand the role of trustees and how cardinal the involvement and participation of trustees is in structuring and managing debt capital and bank credit transaction

Can you explain in specific terms, the role of corporate trustees in business transactions?

The role of Trustees in business varies based on the structure of a transaction and it cuts across several types of business transactions.

Trustees play critical roles in bonds and debt issues- we represent the interest of the bond holders and where there is a sinking fund, we manage same for the purpose of paying the investors their coupons and principal investment as and when due. We represent the interest of unit holders in collective investment schemes and also ensure that the fund managers involved comply with the terms of the scheme.

For Debentures Trusts, Syndications and Consortium lending- we hold the security pledged for loans/facilities to ensure repayment by the borrower(s). In estate planning, trustees hold assets and manage same for the benefit of third parties. We also act as executors either alone or jointly with others to administer the estate of the testator (where the deceased made a will) or act as Administrators of the Estate where the deceased died intestate.

In Real Estate/Construction/Project Finance, trustees also act as intermediaries to ensure that the terms of the necessary agreements are kept while they hold title to the property on behalf of the all stakeholders to ensure that there is a seamless transfer of the asset to the ultimate off-takers. Trustees also provide comfort to Financiers of real estate transactions.

You are the immediate past president of Association of Corporate Trustees (ACT), the trade group and professional body for corporate trustees in Nigeria. What are the challenges facing the industry?

One of the challenges facing the industry is that of awareness. The Association of Corporate Trustees of Nigeria is however working hard to ensure that a layman on the street understands what the concept of trusteeship is all about and how it can be beneficial to them.

Also, in the area of regulations, we would want to see a complete overhaul of the key laws that guide the practices of trusteeship business in Nigeria, basically the Trustees Act and the Trustees Investment Act. These laws are more than 50 years old and some of them still rely on the practices of common law and we think it’s about time that the National Assembly came up with some needful amendments to these statutes. The Act will be happy to engage the legislature in this regard and contribute our quota to the proposed amendments.

In the area of private trusts which involves Wills and Living Trusts, our social-cultural belief is another challenge as a lot of people continue to view it with superstition. No matter how religious some people may be, the need to have an estate plan in place frightens them and they keep procrastinating and postponing until it is too late to set up a plan.

However, in terms of the laws regulating our business, I would like to commend SEC’s efforts at creating rules as the need arises and updating them from time to time. This has been very helpful.

When we compare Nigerian corporate trustees to other countries, where do we stand?

Trustee business in Nigeria is evolving fast.

Government and business owners are beginning to understand the role of trustees and how cardinal the involvement and participation of trustees is in structuring and managing debt capital and Bank credit transactions.

Comparatively, corporate trustees in Nigeria have come a long way from the previous

Ekundayo

situation where they used to be regarded as fringe players in transactions to playing a more central role in transactions. This however does not apply to private trusts where the awareness of the importance of trustees is still at rudimentary stages even amongst more sophisticated individuals. As earlier pointed out, efforts are being made at industry level to continue to increase the awareness of the importance of the role of corporate trustees in the country.

How well can corporate trustees help solve problems associated with succession planning?

Succession planning is one of the main businesses of corporate trustees. As corporate trustees, our duty is to ensure that the assets left behind by the client is properly managed in accordance with the specific instructions and wishes of the client and also to ensure that such assets are preserved for the next generation. Where the beneficiaries have not come of age, the corporate trustees will oversee the assets with disbursement to the beneficiaries as provided in the trust deed to ensure that the needs of the beneficiaries are met at all times without the assets being eroded and when they attain the appropriate age same is transferred in accordance with either the trust deed or the will depending on the estate planning structure adopted.

STL Trustees has grown over time from a company which started business in 1996 to become one of the top three corporate trust companies in Nigeria.

What are the differential factors that make STL Trustees stand out from others in the market place?

At STL Trustees our core values are integrity, professionalism, commitment and innovation.

These values are encapsulated in our vision which is “to be the Trust Company most recognized for its competence, reach and client focus”. Our values ensure that in dealing with clients, whether individual or corporate, we strive to always deliver trust solutions which are guaranteed to meet the needs of our clients on a continuously satisfactory basis. Essentially, our ability to anticipate and meet the needs of our clients while at the same surpassing our client’s expectations is what stands us out from the rest.

Tell us about your products and services In order to simplify the concept of trusteeship for our customers and make same readily available no matter an individual’s income level, we have a bouquet of customized retail products tailored to meet the needs of individuals across a broader spectrum.

These products are: Controlling you Retirement

Voluntarily (STL CRV). STL CRV is a savings product which has been designed for income earners who are mindful of preparing ahead for post-retirement from paid employment, in addition to the mandatory Pension Contributions under the Law as well as self-employed individuals who want to secure their future, when they would be less active and earn lower income.

The product is targeted at the middle to lower income group and ensures that they are able to maintain a lifestyle akin to what they enjoyed while active. It is pertinent to also add that this product has an insurance benefit and the contributor gets a specified amount on the happening of certain events.

The insurance premium is separate from the funds contributed and the income generated from the management of the funds as the premium for the insurance is paid by STL Trustees.

There is also STL Target which is specifically designed for persons who would wish to set aside some funds to meet a particular need at some determinate time in the future. The advantage of this product is that it simplifies savings for events by the client and ensures that the funds are available for the required purpose.

We also have an educational product tagged STL CET. STL is a CETChild Education Trust designed to enable you set up a Trust Fund for the education of your child or children.

STL Trustees will hold such funds under a trust instrument as trustees to the named beneficiaries and preserve the funds, including all accumulated income thereon in trust for your named beneficiaries. The contributions for this product is periodic and gradual to enable one build up the fund to achieve the desired objective. One can also make lump sum payment if desired.

Can you elaborate on your vision for STL Trustees?

My vision for STL Trustees is very simple – to take the STL Trustees brand to the peak of trusteeship business in Nigeria through the instrumentality of the highest level of professionalism and quality service delivery to our clients.

What is your personal approach to leadership?

I would say my personal approach to leadership is that of transformational leadership style. I love initiating change and motivating others to do more than they thought possible.

This is also more so because I set challenging expectations for myself and those around me with a view to achieving higher performance from time to time.

WEDNESDAY, MARCH 22, 2017, ˾ T H I S D AY

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BUSINESSWORLD

PERSPECTIVE

DMO and Strategy for Economic Recovery Olu Isaac highlights the numerous benefits of the newly floated Federal Government Savings Bond and urged Nigerians to take advantage of it Perhaps at no time in the history of Nigeria has the federal government come under such intense pressure to deliver on the economy as now, and this is understandable. 2016 closed with Nigeria recording its worst GDP figure in 25 years as low oil prices, tight monetary liquidity and militant attacks on oil infrastructure rocked the economy.

The Consumer Price Index, which measures inflation also increased by 18.72 January this year. National budgets have continued to run into deficits as oil revenue dwindles. The federal government and many state governments find it increasingly tough paying salaries of their workers.

The private sector has not fared better.

Since the government is the biggest spender in the economy, a drastic cut in revenue means less money in the system. Many companies that depend hugely on government patronage are bearing the brunt of the recession and laying off staff to reduce overhead. The result is that more Nigerians are finding themselves in the unemployment market with no hope of immediate engagement.

President Buhari came to power on the promise of change, and he is under an unprecedented pressure to deliver economic change at a time the country faces its worse economic challenges. In economic matters, there are no miracles, but conscious, calculated and strategic intervention through policies and measures that can bring the economy out of recession.

All eyes are on the government to stimulate the economy by doing whatever is needed to bring it quickly out of a debilitating recession. That is why institutions such as the Debt Management Office, DMO, the Security and Exchange Commission, SEC, and the Nigerian Economic Summit Group, NESG, among others, are increasingly in the headline news.

The DMO is a government agency established to coordinate the management of Nigeria’s debts in such that is healthy for the economy. Anyone who has followed developments in that office will readily admit the DMO has been a work horse for this admiration. Watching Dr. Abraham Nwankwo, Director General of the DMO Nwankwo talk on Nigeria’s debt management is like The DMO DG said during one of his interlistening to a lecture in an ivory tower. views that for Nigeria to pull the economy out The man seems to be at his best when of recession, government must embrace what defending some of the interventions of this he called a “conventional public borrowing” to administration, especially when talking fund critical infrastructures. This is not a loan about the government’s borrowing plan to be disbursed at the whims and caprices to finance the growing budget deficit. But of the presidency; it is loan tied to specific this is to be expected from the head of the and strategic projects to give the economy a debt management office since he is also an rebound. This he said could easily be tracked important part of the equation. It is like a by the public and the legislature. man defending his own actions before a This thinking informed the decision by sceptic audience. the Buhari administration to decide on a What has fascinated me about this man three-year borrowing plan to fund deficits is how he breaks complex economic issues down into bits and pieces that can be easily in the budget from 2016-2019. In the words digested by the lay man. For instance, the Buhari administration’s plan to seek loan to finance development projects in the country as a result of shortfall in government revenue. Nwankwo has tried to convince Nigerians on why borrowing is good for the economy; why loan properly utilised is a sort of investment that is capable of reflating the economy of any country.

A three year Debt Management Strategy (2016-2019) initiated by the DMO better illustrates how debt management has become a key component of Nigeria’s economic recovery effort. It is a broadbased strategy that inspires confidence in the economy and in the managers of the economy. One major aspect of the strategy is that over the medium term, Nigeria will strive to remix the public debt portfolio from 84% domestic and 16% external to 60% domestic and 40% external. And the reason, which may not be obvious to many, is that external loans seem to come cheaper than domestic borrowing.

A three year Debt Management Strategy (2016-2019) initiated by the DMO better illustrates how debt management has become a key component of Nigeria’s economic recovery effort. It is a broad-based strategy that inspires confidence in the economy and in the managers of the economy

of President Buhari, it is a “prudent” borrowing plan to bridge the financial gap created in the budgets, stressing that the funds would largely be applied to key infrastructure projects namely power, railway and road project amongst others.

The DMO recently facilitated the approval of the issuance of $1 billion Eurobond and appointment of six transaction parties for the bond by the Federal Government. The bond is part of the country’s plans to borrow a total of N1.8 trillion ($5.8 billion) from abroad and locally to fund an estimated 2016 budget deficit of N2.2 trillion. Apart from the fact that it is a good deal for the country, it will also prevent the emasculation of local investors.

Now, the DMO is in the news again.

This time it is promoting a novel product and one that benefits majority of Nigerians. This is the newly floated Federal Government Savings Bond, (FGSB). This is the first time one has heard about this type of bond. Of course bonds are debt instruments in which an investor loans money to an entity (typically corporate or governmental) which borrows the funds for a defined period of time at a variable or fixed interest rate. The owners of such a bond are creditors or debt- holders.

Although the federal government regularly churns out bonds to raise fund from the capital market, this one is different. The FGSB is a retail

savings product accessible to all income groups, and it will enable all citizens participate in and benefit from the favourable returns available in the capital market which had hitherto been an exclusive preserve of big players. Every Nigerian who has N5,000 can subscribe to this bond that will be issued monthly for a tenure of two to three years.

The minimum subscription amount is N5,000.00 with additions in multiples of N1,000.00, subject to a maximum ofN50,000,000.00. And there is no fee or charges for subscription. No matter the tenure of the bond, interest will be paid quarterly to holders. The payment will go to the Central Securities Clearing System (CSCS) Accounts of investors and text alerts will be sent to investors on Settlement Day. The purpose of this bond, aside being a source of diversified funding for government, is to also help deepen the national savings culture. Anyone who earns income is able to participate in this unique investment opportunity.

This is an alternative for many Nigerians who have taken to the Ponzi schemes as investment option. The FGSB, like all government bonds, is backed by the full faith and credit of the Federal Government of Nigeria. It is a scheme Nigerians must take advantage of to help themselves and their country. It is another innovation from the rich bag of the country’s economic managers.

Isaac wrote in from Ilorin

WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

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BUSINESSWORLD

INTERVIEW

Bassey: Sterling Bank’s Target is to Play Big in Retail Recovery Group Head, Branding and Communications Sterling Bank Plc, Mr. Henry Bassey, who recently visited THISDAY’s corporate head office, spoke on efforts by the bank to aggressively play in the retail segment of the market. Nume Ekeghe and Nosa Alekhuogie present the excerpts: When you talk about bridging the gap between the bank and the unbanked, especially with the use of technology, how do you close the gap?

That is one of the things I talked about.

So unstructured supplementary service data (USSD) technology works on those features phones. Again this visit is quite timely because on the 1st of April, we are going to be breaking our USSD campaign and our campaigns are not going to be what you have seen already, because of the target audience that are in banks in the, rural, semi urban, the campaign itself will get personal. So if we position ourselves as the ‘one customer bank’, then at least if for example, we are speaking to those in the South-east, we should speak to them in a language they understand.

What is the focus of Sterling Bank going forward?

We have come from an amalgamation of five investment banks and the reality is that we need to start playing actively in retail. Our retail journey started a couple of years ago and one of the clear objectives for 2017 is to be big on retail. What that literally translates to is to increase our focus on the unbanked. So going forward, mass market media is going to be the key and how we do it in an unconventional way to stand out is why we are here today. We have about 180 branches. For the brand building, our focus would hold on to three key pillars: football fashion and film. And we are going to use these pillars to connect with our customers and prospects. We also want to be thought leaders in the space of agriculture, education, transportation and we are already doing quite a lot in that space. So the idea is to really look at how we can explore the opportunities especially with the new platforms that we are aware leaders and company is working on.

You said your bank wants to be more active in retail banking, can you elaborate more on this?

We used to be five investment banks and if you look at Nigeria’s population today, you can arguable say that 70 per cent is below age 35. So the plan is to also look at the unbanked and beyond the unbanked; also look at the solutions that are tied to mobile.

And beyond just looking at mobile is where you would look at solutions that literally have to do with data or no data. So when you begin to hear of USSD, the difference is mobile with data and mobile without data.

So all of that is where we are saying that if we want to connect and win the war in retail banking, then we are going to have to appeal to a younger demographic. And in appealing to a younger demographic is where the pillars I mention become extremely critical. Export is also another area that we are big in and we are also forging strategic alliances with partners in these areas. So the idea is to forge strategic alliances so that we position ourselves as taught leaders in these segments I have mentioned.

What role does technology play in your banks retail expansion plan?

Technology is extremely critical because about a year ago, we invested in one of the best technologies that exist not just in Nigeria but in the world, it is called the T24. Now the T24 is used by the very best in the world on the global stage and I think there are only two banks in Nigeria today that currently have that. The reason why we have paid a premium in investing in T24 is because of the scalability opportunity. So it has opportunity to scale over time and so we have installed it, we are currently using it and the idea is that as we scale, we can scale and begin to also maximise on the other features. T24 is a software platform that enables banking to be lot better in real-time.

That is the simple definition.

Why is it that when a bank introduces a product, others would just copy the same. Is it that banks are not creative anymore?

If there is anything you would give to us as a bank, it is that we did not just started on football, we did not just start fashion.

The truth of the matter is that we have not told our stories as well as we should. So if there is any bank in this country that is associated with a big football club like Arsenal, it is Sterling Bank. Sterling Bank

The cashless policy has been extended nationwide, what is Sterling Bank doing to ensure that its customers adhere to this policy?

We have actually put resources behind it and I’m aware because i have the oversight function of communication. But like you said, communication is internal to current customers. So we are pushing and we have the different media we are using to communicate to them that is not above the line for everybody to see but we are currently engaging them in a way they will be able to maximise the benefits. Technology like USSD is profound. It doesn’t work with data. The campaign would be phased. There will be educational bits to teach how to use, then there is the experience then the third leg of the campaign would be testimonial. So then they would then be the advocate because marketing today has moved from where we are talking about ourselves all the time. We are looking for advocates that would speak on our behalf. That is literarily what our strategy would entail.

Bassey

has had this partnership with Arsenal for some years now. So we are not just saying football today because we want to copy someone, we are actually extending the mileage of what we have been doing. The same thing with fashion, over the last two to three years, we have been partnering with a company called Lagos design fashion week. But I think that we have not told our story very well which is why you have this perspective that we are just copying someone. Sterling bank has

For the brand building, our focus would hold on to three key pillars: football fashion and film.

And we are going to use these pillars to connect with our customers and prospects. We also want to be thought leaders in the space of agriculture, education, transportation and we are already doing quite a lot in that space

always been quite visible with the Arsenal football club for a while now.

You mentioned that five banks came together to form Sterling, how has that given you mileage and what efforts are you putting in catching up with banks up there?

This is a very interesting and valid question. So when you have already existed as an institution, you form your own culture and how you work as a bank. It is much easier to build from scratch than when you bring five things together and you try to merge those five things to become one. That is the difference between us and let’s say a Guaranty Trust Bank. It is easier to take people and form them into a culture. So if you notice, when organisations are growing, they tend to poach. When you come on board, they come with the culture of their previous career.

Now all of that comes together to improve the culture of a bank but when it is a merger, it is almost like you must to work together.

When you are selecting people is different from when you acquire people and I think that has been what the difference has been between us and GTBank. So there is huge investment and strategic hiring that is going on as we speak. We have recently done a culture audit and I can speak to that because I’m aware that a company called ‘Great Place to Work’ has done scientific work trying to also help us in terms of improving our culture.

Companies have been rolling out results, is the outlook of Sterling Bank looking good?

I wouldn’t want to comment on that now till it is out, but work is in progress along these lines. The recession has touched us all but the difference in Sterling Bank is resilient.

You hear of other banks disengaging their staffs, but we haven’t done that but I don’t want to elaborate on it before the results are shared but we have been really resilient.

You are involved in environmental issues and have made investments in that area, have you reaped the benefits?

I think we hold corporate social responsibility (CSR) very dear to us and have invested because of the impact on the environment. So we are big on being green and in fact our CSR initiative which is called STEM has now transformed from just being a cleaning exercise to a movement.

In the next couple of months, you are going to see an interesting campaign around STEM that literately has begun to attract other corporates who has identified us as being pioneers of this cause but I can tell you for free that blue chip companies have decided to join us along this line and so what we see is that celebrities are also coming on board and the interesting thing is they all want to be seen doing good. So they see a cause that they can associate with which is being big on green. We also do a lot of tree planting and so that in itself, the cleanliness and tree planting is the campaign you are going to see in May and June. We are going to have it twice or three times this year and you are going to see celebrities involved, you are going to see a fresh perspective of it which is just from the investment we have done over the years. So we are having just corporates who would join, we want to be part of this exercise.

WEDNESDAY, MARCH 22, 2017, ˾ T H I S D AY

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BUSINESSWORLD

NEWS

PHCCIMA Hails Plan to Relocate Oil Companies to Area of Operation Eromosele Abiodun The Port Harcourt Chamber of Commerce, Industry, Mines & Agriculture (PHCCIMA) has added its voice to the call by the Vice President, Prof. Yemi Osinbajo for Oil Companies to relocate their headquarters to their areas of operations.

In a statement, PHCCMA said the plan will be a major step in quelling the under development, poverty and associated social

vices of militancy and insecurity in the areas.

“Doing otherwise will tantamount to playing the ostrich game. Just as the management of international oil companies like, Shell, Chevron, Total, etc. reside in warn torn but oil producing countries like Iraq and Libya to work and produce their oil instead of running to safe havens, the fastest way to curbing the insecurity in the oil producing Niger Delta is for

these oil companies management to “take the bull by the horn”, to work and reside in their areas of operations.

“That way they will lobby and support the government to show strong political will in not only churning out good policies, but in developing the area especially in infrastructure, education, health, entrepreneurial skills and maintaining security.

Then there will be increased economic activities and the

youths will be gainfully engaged instead of doing unlawful and illegal things, “PHCCMA said.

It added: “Also, because most of the key oil producing states of the country are coastal states, with moribund seaports, re-awaking the Eastern ports in Port Harcourt, Warri, Sapele and Calabar, will not only activate massive economic activities in the South-South and South-Eastern ports of

the country through ports and shipping services but will also put most of the youths in gainful employment and not criminality.

“Today, the Eastern ports barely function because of obsolete infrastructure and undredged channels. Most people in the area import and export their goods through the Western ports of Lagos. When we imagine that Singapore, without any natural resources but just a shipping hub is a first

world country and that Port Harcourt founded in 1912 by the then colonial government as a port city and economic Mecca for all, at the time, then one can add up and realise the socio-economic importance of revival of the Eastern ports as panacea to the nation’s current socio-economic dilemma. It’s time for government to in reality ‘walk the talk” to re-jig the economies of the oil producing area states.”

Job Opportunities in Lottery are Limitless, Says Expert Emma Okonji The MD/CEO of Lotgrand, operator of Grandlotto and FirstBet, Niyi Adekunle, has said that job opportunities in lottery are limitless, and that the technology aspect of lottery business offers more jobs than one could imagine.

Adekunle , who spoke against the backdrop of the recent unemployment figure released by the Nigerian Bureau of Statistics, which puts the figure at 13.9 per cent, revealed that the number of unemployment percentage in the labour market has surged by 555,311 persons, however,

described lottery as a tool with diverse opportunities to end the scourge. According to him, “The thermal paper used daily in the business is more than 30,000 rolls. These are imported from overseas. Likewise, the points of sales (PoS) terminals are also imported.”

The industry, he said, is wide enough to the extent that it can generate employments for specialists. “The terminals commissioned daily are exposed to wear and tear. These terminals will be out of service someday. They would need repairs. Expertise is required in that area and more jobs can

be created as a result”, he said.

Adekunle said if the lottery industry is managed well, it would contribute to the advancement of the economy to the magnitude that it would be difficult for the country to recede into economic recession again.

He cited Croatia as a country that in 2015 funded 19 per cent of its budget with revenue accrued from lottery. He said ‘‘the current high patronage noticed in lottery by more Nigerians is not because of the economic recession as it is commonly speculated,’’ insisting that the economic recession is a recent

occurrence.

Adekunle also listed Morocco, Dubai, China and Singapore and other countries that are frontline lottery nations and are not in economic recession. For about four years, he noted, lottery was the major source of funding for Croatia. “Lottery generates huge revenue in Croatia. In Asia, the continent earns billions of dollars from lottery. So it is all about planning and putting in place good policies.”

He explained that with London’s population of 8.6 million people, there are 38 companies running lottery and sports betting. “That is why the

2012 London Olympics Games was solely financed by revenue from lottery”, he revealed.

According to him, playing lottery has become a pastime worldwide, as it has taken a different dimension in China, Japan, Hong Kong, and Singapore. These countries churn out volumes in revenue more than the United Kingdom. “China is not in recession. In our contemporary world, no economy has grown as fast as that of China”, he said. To buttress this, he informed that under the leadership of the CEO of Lagos State Lotteries Board, Mr.

Seun Anibaba, the board has continued to provide support funding for some of the state’s developmental projects using revenue accrued from lottery.

Some of these projects include investment in security gadgets to enhance security in the state, renovation of secondary, primary schools, and hosting of Lagos carnival. On the policies that guide the game of lottery in the country, Adekunle advised states and federal governments to close ranks and present a common ground regarding policy formulation and the policy must be market conscious and business friendly.

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EDUCATION Enhancing Teaching, Learning in Osun High Schools Rather than have rundown schools with decrepit facilities and unkempt pupils that may be predisposedtowardshooliganism,indiscipline,truancy,amongothers,theOsunStateGovernment seeks to have its high schools upgraded with state-of-art facilities occupied by well-behaved students, as exemplified during the commencement of academic activities at its new high schools.

Funmi Ogundare reports Moved by the need to create centres of excellence with best practices in high school education, designed to attract the best brains from their catchment areas, draw intakes from public middle schools, where excellence will be the watchword, the Rauf Aregbesola administration in Osun State decided to take the bull by the horn with an ambitious project of 100 elementary, 50 middle and 20 high schools.

Out of the 20 high schools, four of them: Wole Soyinka Government High School, Ejigbo; Osogbo Government High School; and Adventist Government High School, Ede were inaugurated between November 23, 2015 and November 28, 2016, while Ataoja Government High School, Osogbo was inaugurated last week.

It was funfair of some sorts at the opening ceremony and commencement of learning at the schools as Aregbesola remarked that, “these four schools are part of the 20 brand new stateof-the-art high schools our administration has undertaken to build. Out of these, 11 have been completed while the four we are celebrating today have been totally completed and are now being made available for the use of the public.

We give God the glory!

In a paper, ‘We have seen the Future’, Aregbesola said the ideas of the schools were muted not just as another nondescript learning centres, but as centres of excellence, adding that the state is celebrating active learning, while describing the celebration as a day of victory. “The children we are producing are being prepared to be highly skilled individuals that would be relevant in this brave new world and better future of tomorrow, hope of the people.

It is the future we are celebrating now. “The overall consequence of what is happening in the society now is that low skills and menial jobs will be eliminated, meaning that only highly skilled individuals will be relevant in this brave new world. This is the future we are preparing our children for. Any society without this vision is going to be backward and dependent when this future arrives. We are celebrating today because we can see the future and we are confident we are on the right path.�

Aregbesola expressed hope that by next year, 11,000 high quality, well-educated pupils would have graduated from its high schools, adding, “in the next 50 years, their number would have crossed the half million threshold. They will take the world by storm in excellence in education, science and technology, the professions, entrepreneurship, the priesthood, sports, arts and entertainment and every field of human endeavour.�

The governor, who promised to provide solar-powered energy to the schools before the end of his tenure in November next year, appealed to parents to be good role models to their children at home by letting them realise the importance of education; prepare them for school at the right time; help them dress properly; and prevent them from truancy.

He said teachers should also assume fully their role in the making of a completely educated person in learning and character. “A teacher should deem himself or herself (and will be so adjudged by society) to have failed if his or her ward should fail examinations and be found wanting in character. Teachers especially should show interest in the physical appearance of their pupils. It is very disheartening to see

Osun State Governor, Rauf Aregbesola (third from right), the Deputy Governor, Mrs. Titi Laoye-Tomori (fourth from right), with some dignitaries and students during the oďŹƒcial resumption of students and commencement of learning in Osun new high schools‌ recently

pupils in tattered, dirty, un-ironed and ill-fitting uniforms. Grooming is an important aspect of education. Teachers should be proud of the physical looks of their pupils. As a government, we have played our own part very well and we will do more if the need should arise. It is now left for parents and teachers to do their own part.�

He recalled when he was in school, saying that “the way a student must look was of serious importance to us. It distinguished us remarkably from those who did not go to school or were in school. We were stylish in the way we walked, the way we combed our hair and the way our uniform and other dressings fit our body.

This affected our mannerism, phonetics, what we read, what we ate and the way we ate. This is the grooming, the informal education that makes a complete educated person. I want to see this return to our schools. Those that are not ready to play this role have demonstrated that they have no place with us.�

On infrastructural development, the governor said the state has redefined the architecture and environment of quality education, adding, “the schools we have built are state-of-the-art and will compete with any school from any part of the world. Any of our high school is a three-in-one school with the capacity to accommodate 3,000 students. Each school has four principals with three superintending over 1,000 pupils each, and an overall senior principal. “It is standard that each school has 72 classrooms of 49 square-meters, each capable of sitting 49 students. Each has six offices for study groups. It is also equipped with six laboratories, 48 toilets for pupils and another eight for teachers, one science library, one arts library, facility manager’s office, a bookshop and a sickbay.�

Other facilities he said are the senior principal’s office, three principals’ offices, a bursar’s office, three general staff offices, a record store and security shed/reception, which have been fully furnished, as well as borehole and power

transformer. “Each school complex also has 1,000 squaremeters of floor space multi-purpose function hall capable of siting 1,000 students for external examinations. The hall has storage for equipment, utility storage, a stage, office space, documents storage, four female toilets and four male toilets. “For sporting activities, it has an Olympic-sized football field, seven lane sprinting tracks for 100 meters and 400 meters events and an outdoor basketball court that doubles as tennis court.

The complex has ample parking space for more than 75 cars,� Aregbesola said.

He expressed delight about the environment of learning, saying that it is as important as the subject of learning. “The architecture of the school environment, in neatness, orderliness, organisation, harmony with nature and sheer beauty is an integral part of the character formation essence of education. Where the schools are run down with decrepit facilities, the pupils tend to be dirty themselves and are predisposed towards hooliganism, indiscipline, truancy and unruly behaviour. In contrast, neat, beautiful schools, with well painted buildings, well-manicured lawns and sparkling facilities always have neat and well behaved pupils. “It is the principle of man being the product of his environment. We see this play out when we transfer badly behaved pupils to new beautiful school environment, they start behaving well.

This is why we embarked on the ambitious project.�

He said the state has established the Osun Education Quality Assurance and Morality Enforcement Agency to assure education quality and enforce morality in its schools; as well as invested a large amount of money, energy and other resources in education. “It is not because we have these in surplus. It is because of the value we place on education being fully persuaded on how it will shape the future.�

The Deputy Governor, Mrs. Titilayo Laoye-

Tomori said the provision of functional education is one of the six integral action plans of Aregbesola’s manifesto, presented to the electorates during his electioneering campaign, adding that the state-of-the-art schools with modern facilities that now adorn the state are purpose-built, and predetermined. “The motive of government is to make the new high schools centres of excellence in Nigeria that will produce students that are excellent in academics and well-grounded in ‘Omoluabi’ ethos. We envisioned our students being able to compete excellently well with their counterparts anywhere in the world. “It is against this backdrop that the diverse interventions of government become understandable and reasonable to the ordinary citizen. It becomes obvious therefore that the building of new state-of-the-art schools and the rehabilitation of existing ones is just one step towards the goal,� Laoye-Tomori said.

The Principal of the school, Dr. Taiwo Adeagbo, who thanked the Aregbesola administration for its efforts, said the facelift would enable the school to compete favourably in the country.

While pledging the teachers’ commitment to teaching and maintaining the facilities, she said, “we will always be grateful to you. It will remain green in our memory.�

The head boy and head girl of the school, Master Afolabi Israel and Miss Victoria Egunranti, appealed to the governor to continue to stand firm in his commitment towards enhancing teaching and learning in schools, while commending his efforts. “He is a trail blazer and a governor with an indomitable spirit, he is the Awolowo of our time and in terms of security, he has been able to secure the school. If anyone had said it was impossible to have this structure, now, the impossible has been made possible.�

The PTA Chairman, Femi Ogunsanya, who stated that government cannot do it alone, appealed to the administration to help in reducing the rate of thuggery in the school.

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EDUCATION

UNILORIN VC: Why Criticisms Greeted My Administration Hammed Shittu in Ilorin The Vice-Chancellor of the University of Ilorin (UNILORIN), Prof. Abdulganiyu Ambali has attributed the recent criticisms of his administration to the usual succession bid that usually accompanies the tenure of outgoing vice-chancellors of the institution.

He said the perceived persecution was aimed at ushering him out of the seat with ignominy, as his tenure will expire between July and October this year.

Ambali, who spoke with journalists in Ilorin on the situation at the university, also accused a faction of the Academic Staff Union of Universities (ASUU) in the university of being responsible for his ordeal. “So I won’t be surprised as I have been told that it is

the tradition of some people whenever the tenure a vicechancellor is coming to an end they embark on smear campaigns against him. “The campaigns are aimed at ushering me out with ignominy instead of saying thank you for the service rendered, they would say ‘who told you to do all this?’ that to me is not the best way.�

He added that the bashings were calculated attempts to smear the reputation the university had garnered over the years. “To me the rising tempo of attacks on my administration is a wrong approach to succeed in life. If you want the seat of the vice-chancellor, there are laid down procedures by government. You don’t destroy somebody in order to occupy his place. “You can as well be a fellow good passenger in the bus so

that it can get to its destination safely and peaceful and all of you can disembark and go home. But by destroying the same vehicle you want to use to get to your destination, nobody will get there.�

Ambali added that “all the allegations that are going round are calculated at undermining all the 17 years of uninterrupted academic calendar the university has earned and that has also undermined all the good and hardworking staff of the university. “That to me is very un-

fortunate. In any democratic setting there should be room for some idiosyncrasies; allow people to be slightly different and do something different from the majority so that we can appreciate the skills and talents God has given everybody. “If you could recollect that same week we had great challenges at the same time.

We had the fire incident at out plantation; the CBT crisis and the write-ups all geared towards putting one into confusion to see whether he would not break.

“I inherited a peaceful university and by the grace of God I will leave the university better than I inherited it and we are on course. We have recorded tremendous growth at the university.�

On the last year’s expulsion of UNILORIN by the national ASUU, the vicechancellor said: “They told every university in Nigeria not to associate with us. That in all academic and social matters all other universities in Nigeria should boycott us; that we thought was not

a wise decision because in matters pertaining to education we should be liberal and allow everybody to interact at whatever levels and exchange academic materials. “UNILORIN over the last 17 years has been doing things slightly different from the rest of other universities in the country. Though the national ASUU has expelled us from its fold, we have used that time to look inward and focus attention to our tripartite mandate of teaching, research and community service.�

Ambode Promises 6,000-bed Hostel for LASU Funmi Ogundare The Lagos State Governor, Akinwunmi Ambode has expressed his administration’s readiness to build a 6,000-bed hostel within the campus of the Lagos State University (LASU), in partnership with private developers to improve on the learning experience in the institution.

Ambode, who disclosed this recently during the 21st convocation ceremony of the institution, said government will continue to invest in infrastructure in tertiary institutions in the state to make them great citadels of learning and pride of all.

He commended the management and governing council for the professionalism with which the affairs of the institution have been piloted, while appealing to them to maintain the ranking of the institution as the best

state university in the country and to be one of the best five institutions by 2020.

The Chancellor and a retired Justice of the Supreme Court, Adesola Oguntade, as well as and Chairman, Governing Council, Professor Adebayo Ninalowo, in their remarks, commended the governor for matching his words with action in terms of the huge investment in infrastructure and academic excellence at the institution.

The Vice-Chancellor, Professor Olanrewaju Fagbohun thanked Ambode for progressively implementing reforms in the institution, saying, “the management of LASU has not been resting, we can conveniently assert that graduates of this university have been imbued with cutting-edge ethics and intellectual capabilities to contribute meaningfully to the society.�

Minister Urges WAEC to Curb Exam Malpractice Kuni Tyessi in Abuja The Minister of Education, Mallam Adamu Adamu, has challenged the West African Examinations Council (WAEC) to continue to work deliberately to curb examination malpractices in all its ramifications. Speaking at a dinner organised in honour of council members of WAEC in Abuja, Adamu stressed the need to continuously share information and resources geared towards preventing, exposing and penalising vendors and perpetrators of examination malpractices in all its examinations.

He said WAEC should intensify its efforts at curbing all forms of malpractices, from pre-examination period through to when the results would be released, adding that it would ultimately lead to more recognition among global higher

education institutions.

According to him, the council has a major role to play in the pursuit of excellence and growth of education in the sub-continent, adding that the country is happy with the performance of the examination body. “We as a nation are happy with the performance of WAEC in general, let me say that there are rooms for improvement.�

Adamu called for more synergy with other examination bodies like the Joint Admissions and Matriculation Board (JAMB), National Examinations Council (NECO), among others with a view to sharing experiences.

The Chairperson of WAEC council, Dr. Evelyn Kandakai, a three-time minister of education in Liberia, commended the people and government of Nigeria for supporting the activities of the council.

BOOSTING SCIENCE EDUCATION

L-R: The Head of Channel Marketing, PZ Cussons Nigeria Plc, Mr. Ayodeji Adewale; the Principal, Government Senior College, Agege, Mrs. Akindipupo Olufunke; and the Chief Education Officer, Lagos State Ministry of Education, Mr. Aberuagba Olufemi, at the first round examination of the PZ Cussons Chemistry Challenge in Lagos‌ recently

UNITeS Cisco Networking Academy Mentors Students Peace Obi To prepare Nigerian students with relevant skills for the 21st century job market, the UNITeS Cisco Networking Academy recently organised series of career mentoring workshops for some senior secondary school students in the country.

The students drawn from Nigerian Navy Secondary School Ojo, SMAC College Orile-Coker and Federal Government Girls College, Sagamu, through the accomplished ICT professionals that handled the various sessions were encouraged to embrace the technology skills offered by the academy.

According to the Academy Support Contact, Mr. Toyin Olatayo, the workshops with the theme ‘21st Century Skills and New Technologies’, were designed to provide the par-

ticipants with the competencies and skills needed in today’s 21st century job market.

The series of workshops which held recently featured career mentoring sessions with Mrs. Ajo Balogun, a HR/ youth employability trainer; Mr. Bayo Puddicombe, an IT/ game development specialist; and Mrs. Bunmi Shonde, an international development/ gender issues consultant.

Olatayo stated that “learning, creativity, critical thinking, problem solving, communication, collaboration and innovation skills are what separate youth who are prepared for today’s increasingly complex life and work environment. The Cisco Networking Academy programme equips students with these skills and gets them started on the path to jobs in technology or whatever careers they choose to pursue.�

While commending the

principals of the participating schools and other stakeholders, he said the workshop is in line with the company’s goal to give Nigerian youths the best competitive advantage in the 21st century technology-driven job market.

The workshop was also an opportunity to showcase the quality of tech education received by students in the academy. Among others, it featured live demonstrations of the development of a cat and mouse game using Scratch Software Programming, computer system assembling, as well as question and answer session with the facilitators.

Sharing her experience, a senior secondary two (SS2) student of FGGC Sagamu, Miss Gbemisola Olusina said, “I previously thought it wasn’t necessary to have ICT skills but this workshop

has changed my perception.�

She thanked UNITeS Cisco for the eye opening workshop.

Miss Chioma Ilowelumuo of SMAC College said the workshop has awakened in her a strong desire to pursue a career in ICT. Another, a student of NNSS Ojo, Gideon Ekebude, who demonstrated live how to develop a cat and mouse game to the delight of the audience thanked UNITeS Cisco for the interest in the development of Nigerian youths.

UNITeS Cisco Networking Academy is an innovative education initiative established in 2007 with the objective of developing Nigerian youths in the use, support and maintenance of IT. The mind wide opening programme was designed to make ICT education accessible and affordable to Nigerian youths especially the girl child.

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Edo to Reintroduce Bini History in Schools Adibe Emenyonu in Benin City The Edo State Government has announced plan to reintroduce the teaching of history as a subject in schools in the state to allow the young generation learn about the labour of past heroes.

Besides, state-owned tertiary institutions will be equipped to teach Bini History, while scholarships will be awarded to postgraduate students interested in studying Bini History for their doctoral degrees.

Governor Godwin Obaseki disclosed this during the inauguration of the Castle of Legends Initiative (COLI), a non-governmental organisation in honour of late Chief Anthony Enahoro, a foremost nationalist in Benin recently.

While stating that the knowledge of history is at its lowest ebb in the country, especially among the younger generation, he said the reintroduced subject would be taught alongside Social Studies.

The governor described Enahoro as a vibrant journalist and nationalist, who sacrificed his life, went to jail and went into exile for a better Nigeria. He said Enahoro’s contributions to the country should be celebrated and his name immortalised at the green chambers of the National Assembly.

He unveiled a life-sized statue Enahoro, erected by the NGO at the state House of Assembly complex.

Delivering a lecture titled ‘Immortalizing Our Heroes Past, Nigerian Nationalists in Focus’, the President

of COLI, Chief David Edebiri, said national heroes like Enahoro need to be appreciated for their immense contributions. He expressed optimism that immortalising heroes like Enahoro, who fought for the emancipation of the country, would inspire Nigerians to be more patriotic.

Awards were also presented to four national heroes who contributed to the independence of the country: Alhaji Lateef Jakande; Obi Nosike Ikpo; Chief Mbazilike Amech; and Alhaji Tanko Yakasai.

Meanwhile, a book, ‘The Role of Militant Youths in the Struggle for Nigerian Independence: Tony Enahoro as a Case Study’, written by Edeberi was also presented during the event.

PROMOTING PHYSICAL FITNESS

L-R: The Chairman, Pacesetters Academy, Abuja, Kenneth Imansuagbon; acting Chairman, Parent Teacher Association (PTA), Pacesetters Academy, Alhaji Dauda Okanlawon; another parent, Mr. Igbinnosa Igbinedon, leading staff during the school’s 2017 sports festival in Abuja... recently

Bauchi Replaces Staff of Sa’adu Zungur School, Expels Seven Students Segun Awofadeji in Bauchi The Bauchi State Government has approved the replacement of some management staff of Sa’adu Zungur Model School with immediate effect and announced the expulsion of seven students of the school.

A statement by the Chief Information Officer (CIO) of the state Ministry of Education, Dauda Shehu, said the decision followed the report of a committee that looked into the affairs of the school.

It announced that Malam Musa Mudi Jahun has been posted as new principal, while Malam Ubayo Muhammad Baba Gana and Malama Fati Isma’il are VicePrincipals Administration and Academics respectively. The removed staff are to

report to the ministry of education.

According to the statement, seven out of the eight students who were the principal actors in the immoral act that took place in the school have been expelled.

It said the government has observed that the school PTA was in a state of comatose and directed it to be alive to its responsibilities.

The statement also directed that the vacated section of the state university in the school be put to use as part of effort to separate students based on gender in order to prevent a recurrence of the illegal marriages.

While expressing the state government’s readiness to improve security in the school, the statement promised to closely monitor clubs and associations in the school for

decency and moral values.

It noted that some private schools in the state were figured out to be centres of immorality instead of places of imparting good moral behavior.

Consequently it said the state government has revoked the operational licences of Ann’s Kings and Queens College and Havarth International School and challenged the Association of Private School Proprietors to put heads together towards reversing the menace.

The state government ordered the closure of the ‘Sa’adu Zungur’ Model Primary and Secondary School following the report it received that some senior students (boys and girls) conducted illegal marriages among themselves within the school.

FUT Minna to Begin Movement of Schools to Permanent Site Laleye Dipo in Minna The Federal University of Technology (FUT), Minna, Niger State is set to begin the movement of its schools at the temporary site in Bosso to the permanent site at Gidan-Kwanu.

The phased movement of the schools according to the Vice-Chancellor, Professor Musbau Akanji would cost over N3.8 billion.

Akanji, who disclosed this to journalists in Minna, said part of

the money for the project has been sourced from the Tertiary Education Trust Fund (TETFund) and the special needs fund.

He said the amount would be spent on the provision of basic infrastructure for staff and students, but stressed that the movement would “not be rushed� to ensure that quality and standards are not compromised. “We have already begun the architectural and other designs for the infrastructure needed, within two

years the movement will start.�

He said though his tenure in the university will lapse in November this year “without enough time to execute the project� the incoming vice- chancellor will be elected in good time so that he would be carried along on the desire ability of the project.

With a total population of over 16,000 students the institution boasts of at least nine schools with three of them located at the temporary site since its establishment over 25 years ago.

Children Can beVery Cruel to Each Other Adolescence is fraught with issues that every boy and girl must experience and become comfortable with. For instance: body image issues; increasing social expectations and demands from family and the society TV; changes in the physical looks of the body derived from the interplay between hormones, genes, nutrition and the environment; grave uncertainty stemming from hormonal as well as environmental factors - all contribute in no small measure to make or mar teenagers.

In my opinion, the most delicate challenge that a teenager must be supported to overcome is the self-image hurdle. Parents and teachers must strive at all times to empower these youngsters, who have just begun their double-digit journeys of life, to build up strong positive opinions of themselves.

Sometimes death, poverty, job-loss, divorce, separation, disease and sickness hit a family and create a significant measure of dysfunction.

Dysfunction in any form leaves young minds vulnerable to peer pressure and abuse by age mates or older people. Power (in terms of social status and affluence) can intoxicate both young and old. Sadly some ill-informed children, who sense, feel or know that their parents have the wherewithal, may harbour prejudices and express discriminations against other children. Whatever you do, keep your teenagers level-headed.

Recently, a friend of mine, Aderonke bumped into a secondary schoolmate of hers as we all cleared immigrations at an international airport. Pleasantries over, my friend turned to me with eyes hugely filled with tears. I was stunned and quickly asked what the matter was. She just blurted, `that girl Aderonke made my life hell in school and for many years after`. `How? I asked. My friend simply replied, “you see, God is good - no condition is permanent. No one can close your chapter!�

Bukky`s mum, the bedrock of her family, died the year she turned 13 and in form two. With her mum’s demise, regular provision of basics like food, clothing, personal hygiene supplies, regular school fees and provisions gradually dwindled to ‘finito’. Very quickly, extended family and friends redirected their attention to their own issues. ‘Callers dwindled until virtually no one visited us again’ according to Bukky. My friend winced as she shared how some close members of the family bluntly asked her and her siblings, on different occasions to stop coming!

Bukky shared how, for lack of bus fare, she did a great deal of walking to and fro daily, from their Surulere home, to a famous secondary school in Yaba, Lagos. This back and forth daily walk to school proved too much for her young legs so she resolved to stand at Masha or Stadium bus-stop in the mornings hoping to flag down school mates that were being driver-driven to school.

The success rate of this wasn’t good but it led to her being offered a daily ride by a girl (and her mum) in the same form as she was.

Unfortunately, each daily ride soon turned into a bitter daily experience for Bukky. Gradually, Aderonke began to brag about her daily benevolence to Bukky to the hearing of other affluent girls (big girls) in school. Bukky cried as she relived how Aderonke and her cronies turned her into an errand-girl in school. She relived how at break time, this hideous group of teenagers passed her their money and list of snacks to fetch for them, from the tuck-shop.

Bukky shared how she timidly bore their tauntings and servitude, fearing that a refusal would mean an end to her ride in Aderonke`s car.

Of particular interest to me was the atmosphere Bukky described, in the car, whenever Aderonke`s mum also rode with them. Bukky told me that on several occasions, Aderonke`s mum had negatively commented on her brown rubber-palm sandals - the best she could afford to wear to school. Aderonke`s mum laughingly referred to them as shoes worn by `Sabarumo` (Yoruba term used to refer to a poverty-stricken person or to an unkempt peasant). Aderonke carried this derogatory description to school and of course it became one of Bukky’s labels.

It is very clear that children are not born with hate or prejudices. Prejudices are learnt by living in and observing pre-conceived negative ideas within settings where they exist. Children will quickly reproduce derogatory labels and nicknames if they are repeated frequently enough and reinforced by other people’s approvals which may assume legality when a group or friends laugh or clap along to the derogatory joke.

Omoru writes from the UK

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Expert Proffers Solution to Graduate Un-employability Uchechukwu Nnaike It has been argued in many fora that Nigerian graduates lack some basic qualities required by employers, and are therefore considered unemployable. The Managing Director of UACN Property Development Company Plc, Mr. Hakeem Ogunniran seems to share this sentiment, just as he highlighted causes of the problem and proffered solutions.

Ogunniran, who delivered the 21st convocation lecture of the Lagos State University (LASU) titled ‘Beyond Education: Bridging the Gaps for Graduate Employability’, stated that the problems of graduate employability portend a “present danger� to the society. “Apart from disenfranchising several young people from contributing to national development and preventing parents and guardians from

reaping the benefits of their investment, it is a potential source of instability and social unrest.�

He noted that out of the over 40 million youths in the country, 23 million are unemployable possible due to lack of necessary skills for employment.

Quoting a report, he highlighted the challenges facing graduates in their quest to attain employability skills to include: restrictive academic teaching method; ineffective industry/company recruiting standards; lack of supporting government policies; dearth of employability skills; and nonexisting enabling environment.

Ogunniran regretted that the teaching methods in Nigerian higher institutions are largely theoretical and both educators and students agree that the system needs a reform. “Current educational systems accentuate the development of cognitive systems.

However, non-cognitive skills relating to individual’s capacity to collaborate, innovate, self-direct and solve problems are often underplayed or not considered at all. “The undue emphasis on scores and grades as the outcome of students’ learning ability tends to obscure the ultimate objective of learning- practical application to real life situations.�

He also identified faulty preuniversity education, saying that a university graduate is a product of an education value chain of which the university is the terminal point. “Every milestone along the chain is a critical touch-point and any defect or inadequacy suffered by the student may impinge on the ultimate ‘product’.�

He added that apart from technical competence, employers want candidates to come well equipped with complementary life skills like problem solving ability,

reflective and critical thinking, interpersonal and team-spirit skills, effective communication skills, good character, integrity and high level of personal ethics.

Absence of national employability agenda he said is also a contributing factor, adding that the problems of graduate unemployment and employability are well documented in the country, however no concrete framework has been developed to deal with the issues in a strategic and deliberate manner.

Proffering solutions, the lecturer called on the government to create the enabling environment through policy consistency and strategic intervention, as well as to develop a national employability index, which will be a useful tool for key stakeholders in understanding the relevant employment parameters and the changes therein from time to time.

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Some Etiquette Rules that Everyone Should Know

ÞÓÛĂ&#x;Ă?ĘľĂ? Ă“Ă? Ă‹Ă–Ă– Ă‹ĂŒĂ™Ă&#x;Ăž ÒÙå ÞÙ Ă?Ă™Ă˜ĂŽĂ&#x;Ă?Ăž Ă™Ă˜Ă?Ă?Ă?Ă–Ă? Ă‘ĂœĂ‹Ă?Ă?Ă?Ă&#x;Ă–Ă–ĂŁË› Ăž Ă“Ă? ÞÒĂ? Ă?ÒÙå Ă™Ă? ÑÙÙÎ ĂŒĂ?Ă’Ă‹Ă Ă“Ă™Ă&#x;Ăœ Ă‹Ă˜ĂŽ Ă—Ă‹Ă˜Ă˜Ă?Ăœ ĂŒĂ™ĂžĂ’ Ă‹Ăž ÒÙ×Ă? Ă‹Ă˜ĂŽ Ă“Ă˜ ĂšĂ&#x;ĂŒĂ–Ă“Ă? ÚÖËĂ?Ă?Ă?Ë› ÓÞÒ ÞÒĂ? Ă?Ó×ÚÖĂ? Ă‹Ă˜ĂŽ ĂšĂœĂ?ʾã ĂŒĂ‹Ă?Ă“Ă? ĂœĂ&#x;Ă–Ă?Ă? Ă™Ă? Ă?ÞÓÛĂ&#x;Ă?ĘľĂ? Ă?Ù×Ă? ĂšĂ?ĂœĂ?Ă™Ă˜Ă? Ę¨Ă˜ĂŽ Ă“Ăž ĂŽĂ“ĘŠĂ?Ă&#x;Ă–Ăž ÞÙ Ă‹ĂŽĂ’Ă?ĂœĂ? ÞÙ Ă™Ăœ Ă?Ă™Ă˜Ă?Ă“ĂŽĂ?Ăœ Ă“Ăž ĂŽĂ“Ă?ĂŽĂ‹Ă“Ă˜Ă?Ă&#x;Ă–Ë› Ăž Ă“Ă? Ă‹ Ă?Ă&#x;Ă–ĂžĂ&#x;ĂœĂ? Ă™Ă? Ă?ĂšĂ?Ă?Ă?Ă’Ëœ Ă?Ă™Ă—Ă—Ă™Ă˜ Ă?Ă™Ă&#x;ĂœĂžĂ?Ă?ĂŁËœ Ă˜Ă?Ă‹Ăž ËÚÚĂ?Ă‹ĂœĂ‹Ă˜Ă?Ă?Ëœ Ă‹Ă˜ĂŽ Ă?Ă™Ă˜ĂžĂœĂ™Ă– Ùà Ă?Ăœ ĂŁĂ™Ă&#x;Ăœ Ă?Ă—Ă™ĂžĂ“Ă™Ă˜Ă?Ë› Ă?ĂœĂ? Ă‹ĂœĂ? Ă?Ù×Ă? Ă?ÞÓÛĂ&#x;Ă?ĘľĂ? ĂœĂ&#x;Ă–Ă?Ă?Ëœ ĂĄĂ’Ă“Ă?Ă’ Ă?Ă Ă?ĂœĂŁ Ă?Ă?Ă–Ă?Ě‹ĂœĂ?Ă?ĂšĂ?Ă?ĂžĂ“Ă˜Ă‘ ĂšĂ?ĂœĂ?Ă™Ă˜ Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă–Ă?Ă‹ĂœĂ˜ Ă‹Ă˜ĂŽ ĂšĂ&#x;Ăž Ă“Ă˜ĂžĂ™ ĂšĂœĂ‹Ă?ÞÓĂ?Ă?Ë› Ě‹ Ă?Ă Ă?Ăœ ÚËã Ă‹ Ă Ă“Ă?Ă“Ăž åÓÞÒÙĂ&#x;Ăž Ę¨ĂœĂ?Ăž ÚÖËĂ?Ă“Ă˜Ă‘ Ă‹ Ă?Ă‹Ă–Ă–Ë› Ě‹ Ă™Ă˜ËŞĂž ĂšĂ&#x;Ăž ĂŁĂ™Ă&#x;Ăœ ĂšĂ’Ă™Ă˜Ă? Ă™Ă˜ ÞÒĂ? ĂžĂ‹ĂŒĂ–Ă? Ă“Ă˜ ĂšĂ&#x;ĂŒĂ–Ă“Ă?Ë› ĂŁ ĂŽĂ™Ă“Ă˜Ă‘ Ă?Ă™Ëœ ĂŁĂ™Ă&#x; Ă?ÒÙå ÒÙå Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž Ă‹ ĂœĂ™Ă–Ă? ÞÒÓĂ? ĂŽĂ?Ă Ă“Ă?Ă? ÚÖËãĂ? Ă“Ă˜ ĂŁĂ™Ă&#x;Ăœ Ă–Ă“Ă?Ă?Ëœ ÒÙå ĂŒĂ™ĂœĂ?ĂŽ ĂŁĂ™Ă&#x; Ă‹ĂœĂ? Ă™Ă? åÒËÞ˪Ă? ÒËÚÚĂ?Ă˜Ă“Ă˜Ă‘Ëœ Ă‹Ă˜ĂŽ ÞÒËÞ Ă‹Ăž Ă‹Ă˜ĂŁ ×Ù×Ă?Ă˜Ăž ĂŁĂ™Ă&#x;ËŞĂœĂ? ĂœĂ?Ă‹ĂŽĂŁ ÞÙ Ă?ÞÙÚ Ă‹ Ă&#x;Ă?Ă?Ă–Ă?Ă?Ă? Ă?Ă™Ă˜Ă Ă?ĂœĂ?Ă‹ĂžĂ“Ă™Ă˜ Ă‹Ă˜ĂŽ Ă™Ă˜Ă?Ă? Ă‹Ă‘Ă‹Ă“Ă˜ Ă?Ă’Ă?Ă?Ă• ĂŁĂ™Ă&#x;Ăœ Ă˜Ă?ĂžĂ‹Ă‘ĂœĂ‹Ă— Ă?Ă?Ă?ĂŽËœ Ă‹Ă˜Ă?ĂĄĂ?Ăœ Ă‹Ă˜ Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž Ă?Ă‹Ă–Ă–Ëœ Ă™Ăœ ĂžĂœĂŁ Ă˜Ă?ĂĄ Ă–Ă?Ă Ă?Ă–Ă? Ă“Ă˜ Ă˜Ă‘ĂœĂŁ Ă“ĂœĂŽĂ?Ë› Ě‹ Ă™Ă&#x;Ăœ Ă?Ă’Ă™Ă?Ă? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă‹Ă–ĂĄĂ‹ĂŁĂ? ĂŒĂ? Ă?Ă–Ă?Ă‹Ă˜Ë› Ě‹ Ă—Ă?Ă‹Ă˜Ă“Ă˜Ă‘Ă–Ă?Ă?Ă? ÞËÖÕ Ă™Ă˜ ÞÒĂ? ĂšĂ’Ă™Ă˜Ă?Ë› Ă? ĂŁĂ™Ă&#x; Ă˜Ă?Ă?ĂŽ Ă?Ù×Ă?Ă™Ă˜Ă? ÞÙ ÞËÖÕ ĂžĂ™Ëœ Ă“Ăž Ă“Ă? ĂŒĂ?ĘľĂ?Ăœ ÞÙ Ă—Ă?Ă?Ăž åÓÞÒ ÞÒĂ?Ă— Ă“Ă˜ ĂšĂ?ĂœĂ?Ă™Ă˜Ë› Ě‹ Ă? Ă?Ù×Ă?Ă™Ă˜Ă? ÙʼĂ?Ă˜ĂŽĂ? ĂŁĂ™Ă&#x;Ëœ ĂŁĂ™Ă&#x; Ă?Ă’Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž ĂœĂ?ĂžĂ&#x;ĂœĂ˜ ÞÒĂ? Ă?Ă‹Ă Ă™Ă&#x;Ăœ Ă™Ăœ ĂœĂ‹Ă“Ă?Ă? ĂŁĂ™Ă&#x;Ăœ à ÙÓĂ?Ă? ÞÙ ÞÒĂ? ĂšĂ?ĂœĂ?Ă™Ă˜ ĂĄĂ’Ă™ Ă“Ă˜Ă?Ă&#x;Ă–ĂžĂ?ĂŽ ĂŁĂ™Ă&#x;Ë› Ă™Ă˜ËŞĂž Ă?Ă“Ă˜Ă• ÞÙ ÞÒĂ?Ă“Ăœ Ă–Ă?Ă Ă?Ă–Ë› Ă&#x;Ă?Ăž Ă?Ă—Ă“Ă–Ă? Ă‹Ă˜ĂŽ Ă–Ă?Ă‹Ă Ă? ÞÒĂ? Ă“Ă–Ă–Ě‹Ă—Ă‹Ă˜Ă˜Ă?ĂœĂ?ĂŽ Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁË› Ě‹ Ă˜ ÞÒĂ? Ă?Ă“Ă˜Ă?Ă—Ă‹Ëœ ÞÒĂ?Ă‹ĂžĂ?ĂœËœ Ă?Ă’Ă&#x;ĂœĂ?Ă’ Ă™Ăœ Ă?Ă™Ă˜Ă?Ă?ĂœĂž Ă’Ă‹Ă–Ă–Ëœ ĂŁĂ™Ă&#x; Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ×Ùà Ă? ÞÙ ĂŁĂ™Ă&#x;Ăœ Ă?Ă?Ă‹Ăž Ă?Ă‹Ă?Ă“Ă˜Ă‘ ÞÒÙĂ?Ă? Ă?Ă“ĘľĂ“Ă˜Ă‘Ë› Ă—Ă‹Ă˜ Ă‘Ă™Ă?Ă? Ę¨ĂœĂ?Þ˛ Ě‹ Ă—Ă‹Ă˜ Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă˜Ă?Ă Ă?Ăœ ÞÙĂ&#x;Ă?Ă’ Ă‹ ĂĄĂ™Ă—Ă‹Ă˜ åÓÞÒÙĂ&#x;Ăž Ă’Ă?Ăœ ĂšĂ?ĂœĂ—Ă“Ă?Ă?Ă“Ă™Ă˜Ë› Ă’Ă“Ă? Ă—Ă?Ă‹Ă˜Ă? ÞÒËÞ Ă“Ăž Ă“Ă? Ă&#x;Ă˜Ă‹Ă?Ă?Ă?ĂšĂžĂ‹ĂŒĂ–Ă? ĂžĂ™Ëœ ÒÙÖÎ Ă’Ă?Ăœ Ă’Ă‹Ă˜ĂŽËœ ÞÙĂ&#x;Ă?Ă’ Ă’Ă?Ăœ ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ Ă‹ Ă?Ă™Ă˜Ă Ă?ĂœĂ?Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă‹Ă˜ĂŽ ĂšĂ&#x;Ă?Ă’ Ă’Ă?Ăœ Ă™Ăœ ÞËÕĂ? Ă’Ă?Ăœ Ă’Ă‹Ă˜ĂŽ Ă‹ĂŒĂ™Ă Ă? ÞÒĂ? Ă?Ă–ĂŒĂ™ĂĄ Ě™Ă&#x;Ă˜Ă–Ă?Ă?Ă? Ă‹ Ă—Ă‹Ă˜ Ă“Ă? Ă’Ă?Ă–ĂšĂ“Ă˜Ă‘ Ă’Ă?Ăœ ÞÙ Ă‘Ă?Ăž Ă“Ă˜ĂžĂ™ Ă™Ăœ Ă™Ă&#x;Ăž Ă™Ă? Ă‹ Ă?Ă‹ĂœËœ Ă™Ăœ Ă?ĂœĂ™Ă?Ă? ÞÒĂ? Ă?ĂžĂœĂ?Ă?Þ̚˛ Ě‹ Ă’Ă? ÑÙÖÎĂ?Ă˜ ĂœĂ&#x;Ă–Ă? ĂĄĂ’Ă?Ă˜ Ă&#x;Ă?Ă“Ă˜Ă‘ ĂšĂ?ĂœĂ?Ă&#x;Ă—Ă? Ă“Ă? ×ÙÎĂ?ĂœĂ‹ĂžĂ“Ă™Ă˜Ë› Ă? ĂŁĂ™Ă&#x; Ă?Ă‹Ă˜ Ă?ÞÓÖÖ Ă?Ă—Ă?Ă–Ă– ĂŁĂ™Ă&#x;Ăœ ĂšĂ?ĂœĂ?Ă&#x;Ă—Ă? Ă“Ă˜ ÞÒĂ? Ă?Ă Ă?Ă˜Ă“Ă˜Ă‘Ëœ Ă?Ă Ă?ĂœĂŁĂ™Ă˜Ă? Ă?Ă–Ă?Ă? Ă“Ă? Ă‹Ă–ĂœĂ?Ă‹ĂŽĂŁ ĂžĂ“ĂœĂ?ĂŽ Ă™Ă? ÓÞ˛ Ě‹ ĂĄĂ?Ă–Ă–Ě‹ĂŒĂœĂ?ĂŽ Ă—Ă‹Ă˜ ĂĄĂ“Ă–Ă– Ă‹Ă–ĂĄĂ‹ĂŁĂ? Ă?ÒÙå ĂšĂœĂ™ĂšĂ?Ăœ ĂœĂ?Ă?ĂšĂ?Ă?Ăž ÞÙ Ă‹ ĂĄĂ™Ă—Ă‹Ă˜Ë› Ě‹ Ă?Ă?ĂšĂ?Ă?Ăž ÞÒĂ? ĂšĂœĂ“Ă Ă‹Ă?ĂŁ Ă™Ă? Ă?Ă™ĂœĂœĂ?Ă?ĂšĂ™Ă˜ĂŽĂ?Ă˜Ă?Ă?Ë› Ă‹ĂœĂ?Ă˜ĂžĂ? Ă?Ă’Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž ĂœĂ?Ă‹ĂŽ ÞÒĂ?Ă“Ăœ Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ËŞĂ? Ă–Ă?ĘľĂ?ĂœË› Ă™Ă&#x;ÚÖĂ?Ă? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă?ÒÙå ÞÒĂ? Ă?Ă‹Ă—Ă? ĂœĂ?Ă?ĂšĂ?Ă?Ăž Ă?Ă™Ăœ Ă?Ă‹Ă?Ă’ ÙÞÒĂ?ĂœË› Ă’Ă?Ă?Ă•Ă“Ă˜Ă‘ Ă?Ù×Ă?Ă™Ă˜Ă?ËŞĂ? ÚÙĂ?Ă•Ă?ĂžĂ? Ă“Ă˜ Ă?Ă?Ă‹ĂœĂ?Ă’ Ă™Ă? ÖÙà Ă? Ă˜Ă™ĂžĂ?Ă?Ëœ Ă–Ă?ĘľĂ?ĂœĂ?Ëœ Ă‹Ă˜ĂŽ ÙÞÒĂ?Ăœ ĂžĂ’Ă“Ă˜Ă‘Ă? Ă“Ă? Ă?Ă˘ĂžĂœĂ?Ă—Ă?Ă–ĂŁ ĂœĂ&#x;ĂŽĂ?Ë› Ě‹ à ÙÓÎ Ă–Ă‹Ă&#x;Ă‘Ă’Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ ĂžĂ‹Ă–Ă•Ă“Ă˜Ă‘ ÞÙ Ă?Ù×Ă?ĂŒĂ™ĂŽĂŁ Ă–Ă™Ă&#x;ĂŽĂ–ĂŁËœ Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? Ă?ĂžĂ‹ĂœĂ“Ă˜Ă‘ Ă‹Ăž ĂšĂ?ÙÚÖĂ?Ě‹ Ă“Ăž Ă“Ă? Ă“Ă˜Ă?Ă&#x;Ă–ĂžĂ“Ă˜Ă‘Ë› Ě‹ Ă™Ă˜ËŞĂž Ă?Ă™ĂœĂ‘Ă?Ăž ÞÙ ĂžĂ’Ă‹Ă˜Ă• ĂŁĂ™Ă&#x;Ăœ ÖÙà Ă?ĂŽ Ă™Ă˜Ă?Ă?Ëœ ĂœĂ?ÖËÞÓà Ă?Ă? Ă‹Ă˜ĂŽ Ă?ĂœĂ“Ă?Ă˜ĂŽĂ?Ë› Ă’Ă?ĂŁ Ă’Ă?Ă–Ăš ĂŁĂ™Ă&#x; Ă˜Ă™Ăž ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? ÞÒĂ?ĂŁ Ă’Ă‹Ă Ă? ÞÙ˛ Þ˪Ă? ÞÒĂ?Ă“Ăœ ĂŽĂ?Ă?Ă“ĂœĂ?Ë› ĂšĂšĂœĂ?Ă?Ă“Ă‹ĂžĂ? ÞÒĂ?Ă—Ë› Ě‹ Ă™Ă˜ËŞĂž ĂžĂœĂŁ ÞÙ Ă?Ă’Ă‹Ă?Ă? Ă?Ă‹Ă?Ă’Ă“Ă™Ă˜Ë› Ăž Ă“Ă? ĂŒĂ?ĘľĂ?Ăœ ÞÙ ĂĄĂ?Ă‹Ăœ ĂĄĂ’Ă‹Ăž Ă“Ă? Ă˜Ă“Ă?Ă?Ëœ Ă?Ă Ă?Ă˜ Ă“Ă? Ă˜Ă™Ăž Ă?Ă‹Ă?Ă’Ă“Ă™Ă˜Ă‹ĂŒĂ–Ă?Ëœ ĂžĂ’Ă‹Ă˜ ÖÙÙÕ Ă‹ĂĄĂ?Ă&#x;Ă– Ă“Ă˜ Ă‹ ĂŒĂœĂ‹Ă˜ĂŽĚ‹Ă˜Ă?ĂĄ Ă?Ă&#x;ÓÞ˛ Ě‹ Ă? Ă?Ù×Ă?Ă™Ă˜Ă? Ă?Ă‹Ă–Ă–Ă? ĂŁĂ™Ă&#x; ĂœĂ&#x;ĂŽĂ?Ă–ĂŁ ̙ãÙĂ&#x; ÞÒĂ?ĂœĂ?Ë ĚšËœ ĂŁĂ™Ă&#x; Ă?Ă’Ă™Ă&#x;Ă–ĂŽĂ˜ËŞĂž Ă‹Ă˜Ă?ĂĄĂ?ĂœË› Ă? Ă‹ ×ÙÎĂ?Ă– Ă™Ă? ÑÙÙÎ Ă?ÞÓÛĂ&#x;Ă?ĘľĂ? Ă‹Ă˜ĂŽ ÚÙÖÓÞĂ? Ă?Ă™Ă?Ă“Ă‹Ă– Ă—Ă‹Ă˜Ă˜Ă?ĂœĂ?Ë›

Eruotor writes from Lagos

Firm Launches New Mobile App for UTME Candidates L-R: A former Executive Secretary of the National Universities Commission (NUC), Prof. Peter Okebukola; the Pro-Chancellor, Lagos State University (LASU), Prof. Adebayo Ninalowo; the Managing Director, UACN Property Development Company Plc, Mr. Hakeem Ogunniran; and the Vice-Chancellor of LASU, Prof. Lanre Fagbohun, during the 21th convocation lecture of the university, delivered by Ogunniran‌ recently

UNIJOS Mgt, Students Disagree over Fee Hike Seriki Adinoyi in Jos The students’ union of the University of Jos has condemned the recent hike in school fees approved by the management from N27,000 to N45,000, saying that the institution did not carry its members along in the development. It therefore directed all students not to pay the new fees until they hear from the union on whether or not to do so.

The leaders of the students, who embarked on a peaceful protest to the secretariat of the Nigerian Union of Journalists (NUJ) in Jos, regretted that the same President Muhammadu Buhari’s government that promised free education and better life for the Nigerian masses has turned around to inflict pains on them by the new exorbitant fee increment.

While admonishing the students to be peaceful in the face of the obvious provocation, the Students’ Union President, Sidney Daman said “Nigerian students believe that this government of ‘change’ is responsible and cannot contribute to the hardship the average Nigerian students are currently facing.�

Daman recalled that in the 2015/16

academic session students of the university encountered various payment problems that made some students pay the same fees twice with several consequences on the part of those that could not cope with the second payment.

He added that students were just trying to get over the pains of having to pay twice for the same school fee when the institution came up with the current increment. While calling on the Academic Staff Union of Universities (ASUU), Non-academic Staff Union (NASU) and Senior Staff Association of Nigerian Universities (SSANU) to intervene, the students decried their non-involvement in the whole process, adding that at the stakeholders’ meeting to discuss the new school fees, the students representatives were not allowed to talk.

The students alleged that only a handful of parents, who could not counter the management’s position, were invited to the purported meeting, adding that such cannot be taken to be a fair representation of the student’s parents. In a reaction, the university denied any wrong or illegal action, saying that it only implemented the new approved harmonised federal government charges for all undergradu-

ates in Nigerian federal universities.wIn a statement, the Registrar of the institution, Mr. Monday Danjem, said the university is only doing the needful by complying with a clearly spelt out and properly conveyed directive of the federal government. But even in doing so, the university still felt obliged to consult with stakeholders before the decision was finally taken.

The statement read in parts: “The University of Jos management was in receipt of a letter from the Executive Secretary, National Universities Commission (NUC) dated January 22, 2015 conveying the newly approved schedule of harmonised school charges to senate/ governing councils of all federal universities for immediate implementation. “The directive contained in the letter followed a recommendation made by a committee constituted by the minister of education comprising the NUC Executive Secretary; Chairman, Committee of Pro-Chancellors; Chairman, Committee of Vice-Chancellors and Vice-Chancellor, Bayero University, Kano that was mandated to review and harmonise the schedule of miscellaneous charges for undergraduate students in all federal universities.

A mobile solution, JAMBrite App has been launched into the Nigerian market to assist prospective candidates for the Unified Tertiary Matriculation Examination (UTME), conducted by the Joint Admissions and Matriculations Board (JAMB) in preparing for the entrance examination into tertiary institutions.

The proponent of the app, Ms. Abimbola Izu, said at the launch in Lagos recently that the mobile application would boost the performance of students in the examination.

According to her, admission into tertiary institutions is the high point of most school leavers, however statistics shows that Nigerian tertiary institutions do not have the capacity to admit all intending students and this has been a source of concern to students and parents, as students scramble for the few available spaces. “In 2016 for instance, out of about 1.5 million students that applied for placement, less than 30 per cent were lucky to secure admission.

This year, it is estimated that 2 million students will apply for the limited spaces. The odds thus seem to be getting higher yearly.�

Izu said naturally the

anxiety of most parents and students hinges on securing a slot and in actualising the goal, some parents engage private tutors for their children, while others enroll them at tutorial centres. “While these efforts are good, they are conventional forms of tuition and preparation. However, experience has shown that young people now learn faster with less conventional, creative, innovative and funlearning tools.�

In line with this, she said some organisations have discovered the need to leverage modern technologies to prepare students for examinations in a fun and creative way, one of the devices developed by such education-learning centres is JAMBrite, available on Google Play store and at www.jambrite.com.

Izu described the app as an easy-to-use online platform and mobile app that allows students to learn anywhere, anytime, at their pace and at their convenience. She explained that the app comprises tutorial videos of JAMB-type questions and the answers painstakingly explained in a fun and interactive way by expert tutors with many years of experience in successfully preparing students for JAMB.

WEDNESDAY, MARCH 29, 2017, ˾ T H I S D AY

36

CITYSTRINGS

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

The suspects arrested in connection with the stolen diesel and 410 bags of bread flour

Highway Gang Meets Its Waterloo Members of a notorious highway gang whose criminal activities involve hijacking fuel tankers and other trucks carrying goods along the Sagamu/Benin/Ore Expressway were arrested by the operatives of Rapid Response Squad of the Lagos State Police Command. Femi Ogbonnikan reports

O

peratives of the Rapid Response Squad (RRS) of the Lagos State Police Command, in a major breakthrough recently, apprehended 12 notorious suspects whose criminal activities are to hijack fuel tankers and other trucks carrying goods along the Sagamu/Benin/Ore Expressway. The mode of operation of the gang, after accosting their victims, is to beat the driver, escort and motor boy and also hit them with hammers on their heads and throw them inside a dug pit inside a bush path between the Ogun and Ondo states boundary, along the ever-busy Sagamu/Benin/Ore Expressway.

Nemesis, however, was said to have caught up with the suspects shortly after they had successfully hijacked a fuel tanker, with 45,000 litres of diesel, beat up the representative of the owner of the petroleum product, the escort, following a tip-off.

Informed sources at the RRS headquarters hinted that the arrest was made possible, following the deployment of high-tech tracking devices, in response to a formal complaint lodged at the operatives' office in Alausa Secretariat, Ikeja, following the disappearance of the fuel tanker marked ENU 751 XH (Enugu State) which lifted Ago (diesel) product, with 45,000 litres on Tuesday, February 14, 2017, representative of the owner of the petroleum product and escort.

It was gathered that the driver of the truck lifted the diesel from a Lagos depot and one Mr. Ajayi, was assigned to escort the product to

Optima Depot, Koko, Warri, Delta State before it was later found out that the representative and the escort, who had earlier informed their boss that they had successfully lifted the diesel and were already on their way to Warri to deliver the product, could no longer be reached out to.

"Even madam had already instructed the driver and the escort to park at Ore (Ondo State) when it was already late at night so that they could continue with the journey the next day. And that was the end of the story, as the two men could no longer be reached out to,

The RRS operatives in handling the case, had spent 11 days shuttling between Ondo and Ogun states on one hand and between Lagos State and Edo states on the other hand, thereby successfully picking up all the suspects allegedly involved in the diversion of the petroleum product and the 410 bags of bread flour

when their boss called back to find out about their well-being," hinted a source.

It was learnt that the diversion of the diesel was first reported at Sango Divisional Police Station, Ogun State Command, by the Managing Director of Sansuat Petroleum Limited, Mrs. Nafisat Osinowo, the owner of the diesel, before the matter was subsequently reported at the Headquarters of the Rapid Response Squad (RRS), Alausa Secretariat, Ikeja, for possible deployment of their tracking devices, after the Lagos State Commissioner of Police, Mr. Fatai Owoseni, had ordered a crackdown on the suspects. The RRS operatives in handling the case, had spent 11 days shuttling between Ondo and Ogun states on one hand and between Lagos State and Edo states on the other hand, thereby successfully picking up all the suspects allegedly involved in the diversion of the petroleum product and the 410 bags of bread flour.

As at Thursday, February 23, 2017, no fewer than 23 suspects, directly involved in the attempted murder of the representative of the petroleum company and the escort, diversion of the diesel, have been nabbed by the police.

The complainant, Osinowo, it was learnt, in her statement at the RRS Headquarters, Alausa, stated, "the diesel was meant to be delivered in Sango, Ogun State. But our representative, escorting the truck called me when they got to Benin, Edo State, that the tyre of the truck was bad in the afternoon. He called again at 11:00pm, that the truck had been parked at Ore, Ondo State. It is our tradition not to travel at night.

Our discussion was that they should proceed on the journey at 5:00am, the next day. That was the last conversation that we had. Efforts to get him the following day proved abortive, until few days later when we received a call they were at an intensive care unit of a certain hospital."

Informed sources at the RRS Headquarters hinted that the one Gbenga Akinboyewa and Obinna Ofunue were recruited by a syndicate in connivance with the truck driver, Amara (now at large), to eliminate Mr. Ajayi, the representative.

The duo, it was gathered, had at Ore that night engaged Ajayi in a brawl and overpowered him, before hitting him at the back of the head with a hammer. They were reported to have thereafter dropped his body in a ditch, along the road, before diverting the truck with the 45,000 litres of diesel to an unknown location.

The syndicate led by Chibueze Nnamdi, a building material dealer in Ore, Edwin Ozor, Oluchukwu and one Shedrach (now at large), had raised a sum total of N800, 000 to pay for the services of those who engaged in the course of the diesel diversion.

Following the complaint and deployment of high-tech tracking systems, it was learnt that a decoy of RRS team swung into action and went to Ijebu Ode, Ogun State where six suspects were picked up at a particular location on Thursday, February 16, 2017, in connection with the matter.

The arrest of the six suspects, it was said, led to the further arrest of three other persons

WEDNESDAY, MARCH 29, 2017, Ëž T H I S D AY

37

CITYSTRINGS

Ajayi, the representative of Sansaut Petroleum Limited, attacked by the highway gang

at Ajah (Lagos State).

While still on the trail of other suspects in connection with the stolen diesel truck, it was further gathered, that three persons were also picked up while in possession of another stolen flour products from a hijacked truck in Sagamu, Ogun State.

However, the 12 suspects (Gbenga Akinboyewa, Gbenga Aliu, Oluchukwu Onyema, Edwin Ozor, Chigozie Obi, Feranmi Ahmed, Adedeji Kehinde, Rabiu Bello, Sadiku Ganiu and three others) who were initially detained at the RRS Headquarters, Alausa, Ikeja, Lagos, had been transferred to the operatives attached to the State Criminal Investigation Department (SCID), Panti Street, Yaba, Lagos, on the orders of the Lagos State Commissioner of Police, Mr. Fatai Owoseni, for a discreet probe of the matter.

However, all the suspects confessed to the crime. Adedeji Kehinde, one of the kingpins of the gang, disclosed that a lady, one Kemi Balogun, allegedly introduced him into buying stolen petroleum products.

According to the 30-year-old suspect, he said shortly after the stolen diesel was brought to him on Wednesday, February 17, 2017, at Oando Station, Ibeju-Lekki,19,200 litres were discharged, and 14,600 at PSG Station, Bogije and 8,400 at a Filling Station in Ajah, all at N225 per litre. The suspect noted that his business relations with Kemi Balogun began last November while the latter had claimed she buys those petroleum products from Port Harcourt, Rivers State.

During the shady transaction, Adedeji claimed he had already paid Kemi Balogun a total sum of seven million one hundred and fifty thousand naira (N7, 150, 000), while he is still indebted to her to a sum of two million one hundred and thirty four naira (N2, 134, 000) only.

Also, Gbenga Akinboyewa, in his own confession, claimed theirs is to attack fuel tankers and other trucks carrying goods along the Sagamu/ Benin/Ore Expressway.

According to the 33-year-old suspect, "it was my childhood friend, Chibueze (aka Chiboy) who introduced me into this shady business.

"On Thursday, February 9, 2017, Chiboy called and told me, that he had got a job for us to do.

He tasked and asked me to get another person,

Lagos State Commissioner of Police, Mr. Fatai Owoseni...smoking out criminals from their hideout

to make up three so that we could carry out the task perfectly. I prodded and asked him the type of job he had got and he told me that a

I did the job of hiring another person and we carried out the attack.The escort was beaten and we also hit his head with hammer, thinking that he had died and we threw him inside a pit. And that was how we went away with the fuel tanker. We thought that the escort had died but we didn't know how he was rescued

truck loaded with PMS (petrol), not diesel, was coming with an escort. That our own assigned task would be to accost, attack, and beat up the escort of the tanker, following which we would drive off and divert the product to an unknown destination. I did the job of hiring another person and we carried out the attack.

The escort was beaten and we also hit his head with hammer, thinking that he had died and we threw him inside a pit. And that was how we went away with the fuel tanker. We thought that the escort had died but we didn't know how he was rescued. And his still being alive led to our arrest in Ore, Ondo State.

"Chiboy and Ozor who contacted us for the job promised to pay me and Obinna the sum of N500, 000, but they were only able to offer us N200, 000 before our arrest," confessed Gbenga, the Ore-born suspect. Similarly, Oluchukwu Onyema, who hails from Awo, Imo State, said his own assigned task in the gang was to drive stolen trucks to unknown destinations.

According to the 29-year-old suspect, "it was Chibueze who introduced me into the business.

He called me on Tuesday, February 7, 2017, to come to Ijebu Ode, Ogun State and when I got to him he complained to me that he gave a job to my brother, Amara that he absconded with the proceeds of the money and abandoned a truck he used for the delivery of a product, after a successful business to an unknown destination.

"So, he begged me to help me drive the truck where it was parked by the roadside in Ijebu Ode. Initially, I wanted to decline but after much persuasion and pleas I obliged him. After parking the truck I now left for Ore, Ondo State for another business. But I didn't bother to find out from Chibueze the type of business they both carried out that led Amara, absconding with the money. So, I was still in Ore until the police team came and arrested me," said the 29-year-old suspect.

Edwin Ozor also confessed to the crime.

According to the 30-year-old suspect who hails from Achali, Awka North Local Government Area of Anambra State, "it was Chibueze who called and asked me to lend him the sum of N400, 000 that he had a truck in Warri and that his brother, Amara, is the driver. But I promised that I would go to Warri to see the product itself before I could oblige him the request. I did as I promised and I met Chibueze and Amara there.

They both begged me to lend them the N400, 000 loan, with a promise to give me commission over it. Initially, I paid a sum of N80, 000 into Chibueze's bank account and subsequently, N100, 000 into the bank account of one Mr. Fashion, the manager of their business. And all the N400, 000 was paid to them for the business which I thought it was genuine to thrive.

"When I later called Chibueze and he told me that the black oil had been loaded and it was already being taken to Lagos for delivery to its owner, that I should exercise patience for the refund and payment of the commission promised. But he made it clear to me that the money was not ready. So, I was in my village to see my mother who was sick until Chibueze called and asked me to meet them at Ijebu Ode. When I got there they asked me to meet Mr. Fashion, the manager, at Epe, Lagos State. I met them in the night after the product had been offloaded and they claimed that money had not been paid for the delivery. I was with them arguing until the police team pounced on us and we were all rounded up," Ozor said.

An informed police source further hinted that the trail of other suspects to their hideout led to the arrest of three others at a warehouse in Sagamu, Ogun State where they were offloading flour from a stolen truck.

Chigozie Obi, who hails from Ehime Mbano, Umunumo Local Government Area of Imo State, was arrested for allegedly taking part in hijacking a truck loaded with bread flour.

According to the 29-year-old suspect, "initially I used to sell fast foods (cooked indomie) at Ore, before I later ventured into selling fuel by the roadside.

"On Thursday, February 9, 2017, a driver called Chibueze, came to meet three of us, me, Uche and Ndubuisi, and said that he had bags of flour to sell. We asked him the type of flour and he told us they were bags of bread flour. He said the flours were from Dangote Mills, that he had loaded them from Calabar, Cross River State and he was going to Lagos. The driver confided in us that the deal was between him and the driver, but he assured us that there was no cause for alarm.

"Uche invited Biggie into the business and Biggie further called other persons that would buy the products. After servicing the truck, Uche, Biggie and Chibueze followed the truck to Sagamu and the driver and motorboy offloaded the goods there. When they returned, they offered the driver N2.4 million while me, Uche and Ndubuisi were offered N500, 000. I and Uche received N200, 000 each, while Ndubuisi collected N100, 000, because he didn't follow us to Sagamu with the truck. Actually, we ought to receive N750, 000, but misunderstandings occurred. It was in Sagamu that we were arrested," said the 27-year-old suspect. Also, Bello, a kola nut dealer, had in his statement stated that one Mustapha (now at large) brought the bread flour to him, adding that he bought each bag at N8,500. He stated further that he in turn sold a bag of the flour at the sum of N9,500 in Zamfara State. Mrs. Dolapo Badmos, Lagos State Police Command Public Relations Officer, confirmed the arrest, but said investigation was still going on into the matter.

38

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39

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T H I S D AY WEDNESDAY MARCH 29, 2017

T H I S D AY WEDNESDAY MARCH 29, 2017

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T H I S D AY WEDNESDAY MARCH 29, 2017

WEDNESDAY MARCH 29, 2017 ˾ T H I S D AY

43

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Anti-apartheid Icon Ahmed Kathrada Dies Anti-apartheid activist Ahmed Kathrada, who spent 26 years in jail – many of them alongside Nelson Mandela – for acts of sabotage against South Africa’s white minority government, died in Johannesburg on Tuesday morning at the age of 87.

He had been admitted to hospital with blood clotting in his brain earlier this month.

Kathrada was born on August 21, 1929, to Indian immigrant parents in a small town in northwestern South Africa.

He was among those tried and jailed alongside Mandela in the Rivonia trial in 1964, which drew worldwide attention and highlighted the brutal legal system under the apartheid regime.

Kathrada was sentenced to life imprisonment in 1964 and spent 26 years and three months in prison, 18 of which were on Robben Island.

After the end of apartheid, he served from 1994 and 1999 as parliamentary counsellor to President Mandela in the first African National Congress (ANC) government.

Al Jazeera’s Tania Page, reporting from Johannesburg, said that it was a sad day

in South Africa – where Kathrada was affectionately known as “Uncle Kathy” – as tributes poured in about his widely perceived kindness, humility, and honesty.

He had been a major part of many South African’s memories over decades of anti-apartheid struggle, Page said.

“I think his passing is sort of signalling to South Africans, yet again, the ending of an era, of these great giants of apartheid [resistance] as they pass on,” she added.

Kathrada gave an emotional speech at Mandela’s funeral, in which he said he had lost a brother.

Kathrada was, until recently, still active in public life. He formed his own foundation and advocated strongly for human rights causes such as youth development, anti-racism, and freedom of speech.

Last year, he joined a movement of veteran figures who were critical of the governing ANC and its current crop of leaders - particularly President Jacob Zuma, who has been mired in mounting allegations of corruption.

Kathrada penned an open letter to the president and called on him to step down.

“Right to the very end he kept himself relevant, he was a newsmaker, he was honest and true to his values and his beliefs,” Page said. “And that’s why so many millions of South Africans will be very sad at his passing today.”

“This is a great loss to the ANC, the broader liberation movement and South Africa as a whole,” Neeshan Balton, head of the Ahmed Kathrada Foundation, said in a statement. “’Kathy’ was an inspiration to millions in different parts of the world.”

Kathrada’s activism against the white-minority apartheid regime started at the age of 17, when he was one of 2,000 “passive resisters” arrested in 1946 for defying a law that discriminated against Indian South Africans.

In July 1963, the police swooped on Liliesleaf Farm in Rivonia, a Johannesburg suburb where Kathrada and other senior activists had been meeting in secret.

At the famous Rivonia trial, eight of the accused were sentenced to life imprisonment with hard labour on Robben Island.

His fellow prisoners included Mandela, Walter Sisulu and Denis Goldberg.

T H I S D AY Ëž , MARCH 29, 2017

44

BUSINESS/MONEYGUIDE

Keystone Bank Constitutes Transition Board Obinna Chima Following its sale to new investors, Keystone Bank yesterday announced the appointment of Alhaji Umaru H. Modibbo and Mr. Hafiz Bakare as board Chairman and acting Managing Director/Chief Executive Officer respectively.

The lender also announced the appointments of Mrs. Yvonne Isichei as Executive Director as well as Mrs. Titilayo Tairat Adebiyi and Mr. Bulus Bunken Dan-Habu- as NonExecutive Directors.

A statement from the lender’s Head, Corporate Communications, Omobolanle Osotule, said the new board is a transitional governance arrangement, which follows: “the successful conclusion of the divestment of Keystone Bank Limited by the Asset Management Corporation of Nigeria (AMCON), which culminated in the Completion Meeting of 23 March 2017

and the formal handover of the bank to the Sigma GolfRiverbank Consortium (the Consortium).�

According to the statement: “The transitional governance arrangement, which will take effect from the 1st of April 2017 is subject to approval by the Central Bank of Nigeria. By the 31st of March 2017, the current board of the bank (including the MD/CEO, Mr. Philip Ikeazor) would have fully disengaged, except for Mr. Bakare and Mrs. Isichei, who will continue as part of the transitional governance board.�

Modibbo started his working career as a Commercial Officer in the then Gongola State Civil Service, and would later join the Gongola State Investment Company Limited where he rose to the rank of Senior Investment Executive.

A 1983 graduate of Business Administration from the Ahmadu Bello University, Zaria,

Alhaji Modibbo qualified as a Chartered Stockbroker in 1991 and was elected to the Council of The Nigerian Stock Exchange from 1993 to 1996. He is currently a member of the Investors Protection Fund (IPF) of the Nigerian Stock Exchange.

He founded Sigma Pensions Limited, and served as its Managing Director/Chief Executive from 1st February 2011 to 31st October 2016.

Hafiz Bakare is currently the Executive Director, Corporate Bank & Treasury at Keystone Bank Limited also overseeing the Lagos & West Directorate.

Before his appointment to the Board of Keystone Bank in July 2014, he was running a management consulting and capacity development firm he founded with the objective of assisting organisations across different sectors to deliver sustainable value in an increasingly challenging and dynamic environment.

MARKET INDICATORS

Adeduntan: Economic Recession OffersWindows of Investment Opportunities Solomon Elusoji The Managing Director/Chief Executive Officer, First Bank of Nigeria Limited and Subsidiaries, Dr. Adesola Adeduntan has said that economic recession facing the country presently also offers windows of opportunities for investors.

The FirstBank boss said this in a keynote address he delivered at the KPMG Alumni Cocktail held in Lagos recently.

Adeduntan identified the agriculture sector as one of the prime opportunity areas, with the skyrocketing prices of imported food products forcing consumers to turn towards local substitutions. “Agriculture is a play with a great future ahead of it,�

Adeduntan said. He added: “Food processing are also strong plays. When you consider the advances gained in the north of the country in terms of agriculture production, then

you appreciate how much latent value lies untapped in the agriculture value chain.�

The FirstBank chief also spoke about the role of technology start-ups in the economy.

He said: “One obvious route for the technology start-ups in our recession is to look to bridge the convenience and ease of access gaps arising from our massive infrastructure dearth. “In this sense, the most readily available opportunities are those that allow the use of technology, especially mobile applications, to help existing businesses optimise their value chains.�

Also, Adeduntan emphasised that the businesses that would be able to take advantage of these windows of opportunities must “continue to invest in capacity, especially human, as the recession bites�, other wise “they will find themselves unable to maintain or build on market share when the

economy recovers�.

Following Adeduntan’s keynote speech, a panel discussion between three KPMG alumni ensued.

They included the Finance and Strategy Director at Cadbury/Kraft Foods West Africa, Yimika Adeboye; the founder and Managing Director of PeoplePrime and PeopleTemp Limited, Nike De Souza and the Managing Director and CEO of the Nigerian Sovereign Investment Authority, Mr. Uche Orji.

Yimika presented figures that showed Nigerians’ declining demand for Fast-moving Consumer Goods (FMCG), a trend which has hit her company’s bottom-line devastatingly. De Souza spoke about the impact of the recession on Small and Medium Enterprises (SMEs) and the new funding opportunities that are now available to SMEs. And Orji discussed his work at NSIA, advocating for new ways of doing things.

MONEY AND CREDIT STATISTICS

(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

CBN Declares Tomorrow Financial Literacy Day

Month Inter-Bank Call Rate

Peter Uzoho As Nigeria joins the rest of the world to mark this year’s Global Money Week, the Central Bank of Nigeria (CBN) has declared March 30,2017 Financial Literacy Day. Working in collaboration with 29 financial institutions and Junior Achievement Nigeria (JAN), the CBN also directed chief executives of banks across the nation to, on the stated date, visit over 800 schools in the 36 states to teach financial literacy curriculum provided by Junior Achievement Nigeria.

According to the central bank, over 80,000 students would be impacted through the cutting-edge curriculum provided by JAN which it said is based on the theme of this year’s Global Money Week “Learn, Save, and Earn� which runs from Monday March 27 to Sunday April 2, 2017.

Briefing journalists in Lagos

yesterday, the Executive Director, Junior Achievement Nigeria, Mrs. Simi Nwogugu, expressed satisfaction of the organisation for having the opportunity to develop the curriculum and implement the initiative with the CBN’s Bankers Committee every year. “The goal of Global Money Week is to teach children and youth about money, saving, creating livelihoods, gaining employment and becoming an entrepreneur through interactive and fun activities,�

Nwogugu said. “This aligns with the three pillars upon which Junior Achievement’s programmes are built: Financial Literacy, Work Readiness, and Entrepreneurship�.

Nwogugu pointed out that the financial literacy programme of the CBN and JAN was aimed at changing the mindset of young people by inculcating in them sound financial intelligence and dis-

cipline as they learn to save to earn and save early in life. She explained that sending bank chief executives to go and teach students in schools would go a long way inspiring them to strive to be as successful as their August teachers.

She also said that the programme was another way of solving the problem of unemployment in the country as these young ones will learn to be creative and self-sustaining. She revealed that the major challenge facing the organisation in meeting up with this undertaking was unavailability of volunteers, noting that they had been in search of people who would come to serve as volunteer teachers.

Junior Achievement Nigeria (JAN), is part of Junior Achievement Worldwide (JAWW), the world’s largest and fasted-growing non-profit educational organisation with a 121 country network.

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, 27 MARCH 2017 The price of OPEC basket of thirteen crudes stood at $48.25 a barrel on Monday, compared with $48.26 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 WEDNESDAY MARCH 29, 2017

45

T H I S D AY Ëž , MARCH 29, 2017

46

MARKET NEWS

Foreign Exchange Gains Boost FCMB’s Profit to N14.3 Billion Goddy Egene and Nosa Alekhuogie FCMB Group Plc yesterday reported a profit after tax (PAT) of N14.3 billion for the year ended December 31, 2016, showing a jump of 204 per cent from N4.7 billion in 2015.

However, the profit was boosted by N27.8 billion other income that came from foreign exchange gain.

According to the audited re-

sults released by the Nigerian Stock Exchange (NSE), FCMB Group posted gross earnings of N125.1 billion, compared with N123.5 billion in 2015.

Net interest income stood at N69.53 billion, from N63.9 billion in 2015. Net fee and commission income fell from N15.83 billion to N14.2 billion, while net trading income was N5.68 billion, up from 940 million the previous year.

But other income (foreign

T H E MAIN BOARD

DEALS

MARKET PRICE

exchange gain due to the devaluation of the naira) soared from N8.8 billion in 2015 to N27.85 billion in 2016.

Consequently, net operating income rose from N9.9 billion to N33.53 billion.

Although net impairment loss also rose by 136 per cent from N15 billion to N35.5 billion, profit before tax remained high at N16.2 billion in 2016, compared with N77 billion in 2015. FCMB

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

ended the year with PAT of N14.33 billion, up from N4.7 billion in 2015.

The board of directors has recommended a dividend of N1.9 billion which translates to 10 kobo per share.

The financial institution had given an indication of the impressive full year performance when it reported an increase of 453 per cent in PBT for the nine months ended September 30, 2016. The

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

Managing Director of FCMB Group Plc, Mr. Peter Obaseki had then said the performance reflected their focus on key soundness ratios and the need to maintain buffers against a sustained adverse operating environment.

Also, Group Managing Director of FCMB Limited, Mr. Ladi Balogun commented: “The nine months audited results of the bank reveal that the extraordinary performance

of Q2 2016 offset the loss recorded in Q3 of N2.4 billion, thereby resulting in strong year-on-year profit growth of 913 per cent. In order to avoid an unsustainable, non-cash, spike in earnings from further revaluation gains in Q3, the bank also significantly stepped up its loan loss provisions.

The macroeconomic climate is taking a significant toll on the bank’s borrowing customers across all segments.

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

47

˾ WEDNESDAY, MARCH 29, 2017

MARKET NEWS

African Prudential Registrars Diversifies Operations Goddy Egene African Prudential Registrars (APR) Plc is diversifying its operations in order to deliver more value to shareholders and other stakeholders. The Chairman of the company, Chief (Mrs.) Eniola Fadayomi stated yesterday at the annual general meeting(AGM) held in Lagos.

According to her, business diversification is one of their key approaches to ensuring the soundness and continued survival of the company.

“This is crucial for the continued profitability and viability of the company in the light of the dwindling revenue for core registrars’ services. The business diversification effort is already yielding significant results with the successful go-live of two key products/projects(Easycoop and Greenpole),” she said.

According to her, while the EasyCoop addresses the major concerns of cooperative societies and unions, Greenpole is an in-house developed operating software for registrars.

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

“The company will continue to evolve more e-products in order to expand our revenue generating lines while also diversifying our risk portfolio,” Fadayomi added.

Looking ahead, the chairman said although the current economic challenges and the simultaneous realignment in the Nigerian capital comes with some discomfort, the company sees it as an opportunity to reassess its strategy, realign its strategic thrust in line with the evolving capital markets in Nigeria and Africa.

“While we understand

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 27-Mar-2017, unless otherwise stated.

the enormity of the economic challenges confronting the country and redefining regulatory changes to registrars business in view of the implementation of the Capital Master Plan, we are committed to moving ahead of the market transition to position our company for competitiveness and leadership in the evolving registrar’s landscape through both service and product leadership,” Fadayomi said.

APR Plc recorded a revenue of N2.447 billion for the 2016, profit after tax of N1.02 billion

and paid a dividend of 30 kobo per share to the shareholders.

Meanwhile, the Managing Director/Chief Executive Officer of the APR Plc, Mr. Peter Ashade has said 2016 was a transformational year for the company as efforts at improving its products offerings for capital market community yielded positive results.

“Our range of e-products offerings have been fortified and expanded for improved client experience through our new robust operating platform,” he said.

According to him, efforts to organically increase its client base in 2016 yielded a tremendous result as the company succeeded in winning a total of 11 new mandates within the year.

“The 11 new mandates consist of four equity accounts, two corporate/state bond accounts, four mutual fund accounts and one rights offer mandate. We shall continue to pursue the goal of building our clientele organically or inorganically by exploring various growth opportunities,” Ashade said.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 128.78 129.28 1.40% Nigeria International Debt Fund 221.37 222.09 2.85% 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 0.70 0.71 -0.22% 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 18.12% 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 12.39 12.76 0.34% ARM Discovery Fund 291.63 300.42 1.55% ARM Ethical Fund 22.27 22.94 -0.31% ARM Money Market Fund 1.00 1.00 15.94% 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 106.62 107.37 1.37% AXA Mansard Money Market Fund 1.00 1.00 16.97% 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 2.15 2.21 -0.91% Paramount Equity Fund 9.39 9.63 0.32% Women's Investment Fund 86.56 88.87 2.38% 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 18.80% 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 1,135.88 1,137.08 4.17% FBN Heritage Fund 112.25 113.00 0.59% FBN Money Market Fund 100.00 100.00 17.47% FBN Nigeria Eurobond (USD) Fund - Institutional $107.11 $107.75 2.91% FBN Nigeria Eurobond (USD) Fund - Retail $106.82 $107.47 3.34% FBN Nigeria Smart Beta Equity Fund 112.87 114.32 0.16% 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 0.95 0.97 2.13% Legacy Short Maturity (NGN) Fund 2.66 2.66 3.54% 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 2,215.64 2,241.40 0.29% Coral Income Fund 2,195.61 2,195.61 4.34% 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 17.13% 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 16.84% Vantage Balanced Fund 1.72 1.73 2.12% Vantage Guaranteed Income Fund 1.00 1.00 15.60%

LOTUS CAPITAL LTD fincon@lotuscapitallimited.com Web: www.lotuscapitallimited.com; Tel: +234 1-291 4626 / +234 1-291 4624 Fund Name Bid Price Offer Price Yield / T-Rtn Lotus Halal Investment Fund 1.02 1.04 2.96% Lotus Halal Fixed Income Fund 1,028.65 1,028.65 2.56% 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 9.53 9.61 -1.34% Meristem Money Market Fund 10.00 10.00 16.56% 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 2.97% PACAM Fixed Income Fund 10.44 10.48 0.32% PACAM Money Market Fund 10.00 10.00 13.14% 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 111.29 112.12 9.27% 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 2.35% 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 1,847.69 1,857.39 0.88% Stanbic IBTC Bond Fund 156.02 156.02 1.34% Stanbic IBTC Ethical Fund 0.76 0.76 -1.30% Stanbic IBTC Guaranteed Investment Fund 192.93 192.93 3.23% Stanbic IBTC Iman Fund 128.52 130.17 -1.01% Stanbic IBTC Money Market Fund 100.00 100.00 17.59% Stanbic IBTC Nigerian Equity Fund 7,369.99 7,447.61 -2.87% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.14 1.15 8.14% United Capital Bond Fund 1.28 1.28 16.01% United Capital Equity Fund 0.65 0.66 -0.50% United Capital Money Market Fund 1.15 1.15 11.35% 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 9.96 10.13 3.37% Zenith Ethical Fund 11.23 11.33 2.86% Zenith Income Fund 17.38 17.38 5.16%

REITS NAV Per Share

Yield / T-Rtn

11.41 125.38

1.01% 1.14%

Bid Price

Offer Price

Yield / T-Rtn

8.03 72.40

8.13 73.75

-8.49% -4.46%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

2.77 6.22 11.67 15.53 128.34

2.78 6.30 11.77 15.73 130.34

0.18% -11.46% -2.70% -2.62% -1.18%

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.

48

WEDNESDAY, MARCH 29 2017˾ T H I S D AY

NEWSXTRA

RMAFC: N37.5bn Paid as Compensation to Cross River for Loss of 76 Oil Wells Bassey Inyang ÓØ ËÖËÌËÜ The federal government has disclosed that as of February 2017, Cross River State received the sum of N37.5 billion as compensation for the loss of its 76 oil wells to Akwa Ibom State in 2012.

The oil wells were transferred to Akwa Ibom State by the RMAFC following Nigeria’s loss of the Bakassi peninsula to the Republic of Cameroun courtesy of the October 10, 2002 judgment of the International Court of Justice (ICJ).

The decision was affirmed by the Supreme Court which declared that with the ceding of Bakassi to Cameroun, the oil wells now lay adjacent Akwa Ibom State.

The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Alhaji Aliyu Mohammed, who made the disclosure when he led delegates from the commission on a courtesy call to the state Governor, Professor Ben Ayade, said compensation to the state commenced almost immediately, based on the directive of the federal government.

Mohammed said following the Supreme Court judgment which led to the loss of the oil wells by the state, the office of Attorney General and Minister of Justice wrote to the RMAFC advising it to augment allocation to the state from the Federation Account.

The chairman of the commission said based on the directive of the federal government, the RMAFC consulted the state government for inputs, and the sum of N38 billion was arrived at as compensation that should be paid to the state for the loss of the oil wells.

“We wrote to the Cross River State Government to make a

presentation to this effect.

The state made a wonderful presentation in November 2012 and after that N38 billion was approved,” the RMAFC chairman said.

Mohammed disclosed that the sum of N13 billion was paid in bulk sum as first installments, and thereafter, the state received N500 million monthly over a period of two years.

He said at the expiration of the first tranche of financial compensation for the state after the first two years, another round of payment running over a period of 26 months commenced, and would elapse May 2017.

Mohammed disclosed that the Ayade-led administration has also made a fresh request that N2billion be paid to the state monthly on a permanent basis on the argument that the N38 billion approved as compensation was grossly inadequate.

However, Mohammed stated that based on the fresh request from the state government, the commission would conduct due diligence survey, and report back to the appropriate quarters that would consider it for approval.

Addressing the delegates from the commission, Ayade said the N38 billion approved for payment over a period of 11 years, was too meagre as it cannot cater for five months wage bill of workers in the state.

Ayade lamented that the loss of Bakassi and the oil wells denied the state of the 13 per cent derivation from oil proceeds, and reduce it, at best, to a mere geographical member of the Niger Delta Development Commission (NDDC).

The governor said the loss suffered by the displaced pupation cannot be quantified in monetary value because

Court Strikes out Yakubu’s Human Rights Suit The Federal High Court in Abuja has struck out the breach of fundamental human rights suit instituted by former Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu, against the Economic and Financial Crimes Commission (EFCC).

This followed an application

by Mr. Adeola Adedipe, Yakubu’s counsel, to withdraw the suit.

Adedipe told the court that his application was due to the prevailing circumstances, particularly since his client had been charged to court and admitted to bail.

“We consider it necessary to discontinue with this suit, we have served the notice on all the parties and they are not opposed to our application.”

Mrs. Rita Ogar and Mr. T.A. Agbe, counsel to the EFCC and Attorney-General of the Federation, who are first and second respondents in the suit respectively, did not oppose the application.

The judge, Justice Ahmed Mohammed, according to the News Agency of Nigeria (NAN), said since none of the parties opposed the application, the prayer was granted as prayed and he struck out the suit.

Yakubu had been detained by the EFCC over allegations of non-disclosure of assets, fraud and money laundering to the tune of $9.7 million.

He approached the court with a breach of fundamental human rights suit, challenging his continued detention without being charged to court.

But before the matter could be determined, the EFCC arraigned him on a six-count charge bordering on non-disclosure of assets, money laundering and fraud charges to which he pleaded not guilty.

He was admitted to N300 million bail and the case was adjourned till May 9 for commencement of trial.

N3trillion compensation would not assuage the loss of original homes by the Bakassi people.

Demanding that the federal government should implement a permanent solution to the lingering Bakassi issue, Ayade said: “You took our land, took our oil wells, took us out of 13 per cent derivation fund, and reduced us to a weeping

child in the NDDC. The pain is incalculable. We are a captured people by the federal government. We have no say because it does not matter.

We practice ethnocracy, and so it does not matter how the people of Bakassi and Cross River as a whole are in pains.

“Today we have NDDC, whose projects are based on

percentage of oil production.

So, look at what we have lost from the perspective of NDDC which keeps us as a crying child who is just in NDDC by geography not by production as the sharing formula here is by quantum of oil production coupled with the fact that today also, we no longer

benefit from the 13 per cent derivation….

“If not for President (Muhammdu) Buhari, I am sure that even the super highway and Bakassi Deep Seaport would have been killed by now. But, how can a people feel like captives in a place they call their own?”

IDENTIFYING WITH DIASPORANS

L-R: Chairman of the occasion, Chief Asuquo Asuquo Okpo; Akwa Ibom State Governor, Mr. Udom Emmanuel; and President, Akwa Ibom State Community ( AKISCOM), Lagos, Chief Elija Ifot, during the AKISCOM plaza foundation laying ceremong and investiture of patrons in Lagos....yesterday

Despite Non-launch, FG Says Implementation of Economic Recovery Plan Already Started Ndubuisi Francis ÓØ ÌßÔË The federal government has declared that in spite of the official non-launch of the Economic Recovery and Growth Plan (ERGP) by President Muhammadu Buhari, its implementation has already taken off in earnest.

President Buhari was scheduled to launch the ERGP, a road map for Nigeria’s economic recovery, growth and sustainable development last December but the launch was shifted to early this year.

However, while the launch is yet to hold, the Ministry of Budget and National Planning on March 7, 2017 unveiled the programme.

This has triggered insinuations in some quarters that ERGP’s implementation had been stalled due to the official non-launch

by Buhari.

However, Akpandem James, the Media Adviser to the Minister of Budget and National Planning, Senator Udoma Udo Udoma, dismissed this line of thought in a telephone chat with THISDAY. According to him, it was erroneous for anyone to toe that line of thought, adding that ERGP’s implementation is not tied to its official launch.

He noted that it has already commenced effectively.

James argued that the

programme is an aggregation of all the government’s strategic plan, including the Strategic Implementation Plan (SIP).

According to him, the process started with the SIP, a short-term intervention initiative which aims to restore macroeconomic stability, grow and diversify the economy, make the business environment more competitive, and improve the country’s governance and security.

He argued that while the SIP is a one-year plan, the ERGP is a Medium Term Plan for 2017– 2020, and builds on the SIP and has been developed for the purpose of restoring economic growth while leveraging the ingenuity and resilience of the Nigerian people.

James noted that the ERGP launch is a mere formality which would still hold, and cannot stall the implementation of the programme.

He argued that the only thing that can stall the implementation was the non-passage of the 2017 Budget, adding that this year’s aspect would have been rolled out if the budget had been passed.

To further buttress his claim that the implementation of ERGP has commenced, he said the federal government had successfully acted in ensuring macroeconomic stability by

iberalising the exchange rate regime to ease pressure on external reserves as well as liberalised the downstream sector by deregulating prices for petrol to save $4.5 million daily by eliminating subsidy claims.

The ministerial aide also said that over N1 trillion had been disbursed to state governments to cover salary arrears and stimulate economic activity while efforts are on to ensure full implementation of the Treasury Single Account to provide greater visibility on government revenue and cash flows.

On economic growth and diversification, he said there was a move for Nigeria to become self-sufficient in food production, particularly in rice, adding that rice yield has increased from 3.5 to 7.5 tonnes per hectare with a plan to increase milled rice capacity from 3 to 10 million tonnes annually.

The launch and implemention of the Anchor Borrowers Programme to lift thousands

of small farmers out of poverty and generate millions of jobs for unemployed Nigerians, he noted, is one of the ERGP’s initiatives.

The ERGP, which is a four-year plan (2017-2020 envisages that by 2020, Nigeria would have made significant progress towards achieving structural economic change with a more diversified and inclusive economy.

Overall, the plan is expected to deliver on five key broad outcomes, including a stable macroeconomic environment, agricultural transformation and food security, sufficiency in energy (power and petroleum products), improved transportation infrastructure and industrialisation focusing on small and medium scale enterprises.

The ERGP differs in several ways from previous strategies and plans.

It is anchored on focused implementation which is at the core of the delivery strategy over the next four years;

CORRIGENDUM In the interview published on Page 26 of THISDAY on March 28, 2017, Mr. John Bamigboye was wrongly addressed as Director of Nigerite Limited. We have since realised that Bamigboye’s correct designation in Nigerite is Manager, Safety, Health and Environment. The error is regretted.

- Editor

WEDNESDAY, MARCH 29 2017˾ T H I S D AY

49

NEWSXTRA

FG Moves to Close IDP Camps, Return Refugees to Their Homes Omololu Ogunmade ÓØ ÌßÔË The federal government is currently fine-tuning plans to close internally displaced persons (IDPs) camps in the North-east and consequently help the IDPs to return to their various homes to begin a new life.

The Minister of Defence, Col. Dan Ali, made this disclosure in Aso Rock yesterday while answering questions from

State House correspondents shortly after holding a closeddoor meeting with President Muhammadu Buhari.

According to Ali, the government wants the IDPs to return home to settle down for economic activities in their various villages.

He also said their return would kick-start the empowerment of the people in those villages because they

2017 Budget: Saraki Gives C’ttees Deadline to Submit Reports Damilola Oyedele ÓØ ÌßÔË Senate President, Dr. Bukola Saraki, yesterday directed all Senate Standing Committees to submit their reports for the budget proposals of the Ministries, Departments and Agencies (MDAs) of government, they oversight latest tomorrow.

Making the announcement, Saraki said over 20 committees are yet to submit their reports.

“Chairmen of committees should submit unfailingly by Thursday to the Appropriation Committee,” he said.

The senate president added that the Senate would adopt the executive’s proposal, if any committee fails to meet the deadline.

A similar directive has also been issued in the House of Representatives.

Last week, Senate spokesman, Senator Sabi Abdullahi, had said

the upper legislative chamber was working hard to ensure that the N7.3 trillion 2017 budget is passed by the March 30, 2017 deadline.

He, however, noted that the date is not sacrosanct.

“We have a timetable, and we are working with it. The timetable is a guide. The challenge, as I said two weeks ago, is that several MDAs were invited by committees to come and defend their budget proposals, but they were not forthcoming, and this caused delays,” he said.

“In the circumstances, even if there is a delay, it will not be long.

We are on course to catch up with the time,” Abdullahi added.

Also, the Chairman of the Senate Committee on Appropriations, Senator Danjuma Goje, had last Monday said the lifespan of the 2016 budget would expire on May 5, 2017, and warned MDAs against mopping up funds.

Amendment to Electoral Act Passes Second Reading in House James Emejo ÓØ ÌßÔË The House of Representatives yesterday passed for second reading a bill for an Act to amend the Electoral Act, 2010, to make the electoral process full proof by making the Card Reader the credible means of voters accreditation and voting.

The bill further seeks to amend Sections 33 and 36 of the Electoral Act, 2010 to provide for death of a presidential or gubernatorial candidate during an ongoing election.

According to its sponsors: Hon. Ahmed Babba Kaita, Hon. Karimi S. Sunday, Hon. Eucharia Azodo and Hon. Aishatu Jibril Dukku), the bill is further seeking to amend the Electoral Act, Cap. E6, Laws of the Federation of Nigeria 2004 to incorporate Diaspora voting in the presidential election in the Nigerian Electoral Act, 2010.

The proposed legislation also intends to amend the provisions of the Electoral Act, No. 6 of 2010 to provide a time line for the submission of lists of candidates, criteria for substitution of candidates, disclosure of sources of funds contributed for political

parties and to empower the Independent National Electoral Commission (INEC) to uphold party primaries where there is a change in the results and for other related matters.

If passed, the new Electoral Act will further provide for strict compliance with election guidelines and manual so as to enhance transparency and efficiency in the conduct of free, fair and credible election.

The bill which was keenly debated at the plenary had the members divided at some point.

Speaker of the House, Hon. Yakubu Dogara, also wanted the new legislation to address the issue of whether a candidate could inherit a vote for which he or she never canvassed for- a veiled reference to the recent controversial elections in Kogi State.

Essentially, members who supported the bill said it would address gaps in the current Electoral Act. But the majority of members opposed the inclusion of Nigerians in the diaspora in the presidential election largely because there’s no credible data regarding them.

will return to farming.

“One of the issues we also discussed is the fact that we want the IDPs to return to their homes and normal businesses because of the economic empowerment of their people in the villages.

“I have gone through the Sambisa Forest. A lot of villages are empty and we are also thinking of facilitating the process whereby all the strongholds and some of them that have no strong issues with Boko Haram will be released to go back to their farming villages and that will enhance the economic empowerment of the people,” he said.

Ali who said Boko Haram had been dislodged from the North-east, added that the army had taken over the two major strongholds of the insurgents, Sambisa Forest and Camp Zairo, explaining that the main commitment of the army now is to capture Boko Haram leader, Shekau.

He also said the hitherto terrifying Sambisa Forest had been converted to training

grounds for members of the armed forces adding that the forest is now being opened up with a network of roads.

He also said in recent times, professionalism has been introduced into the armed forces with a disclosure that the forces now engage in trainings such as small arms competition and sports with a view to empowering military personnel to tackle the security challenges confronting the country.

Ali added that he had a useful discussion with the president on the general security situation of the country and he tasked him and the military to do more.

“If you have been opportuned to go to Sambisa, you will know that Boko Haram has been defeated. Go and see what is happening in Sambisa. We have dominated the whole stronghold where they used to be. There is the place we call Camp Zairo where they had their spiritual and strong headquarters and which they used as communication base. It was destroyed and at the same time being occupied

by our men the armed forces.

“I told you before now that the spiritual headquarters has been ransacked and vandalised.

Shekau is on the run. So, he may be hiding in one of the enclaves of Sambisa Forest which we are dominating. We have opened up the place. We are using the place as a training area whereby the Army engineers will open up roads. We shall be patrolling and ransacking that forest for the whereabouts of Shekau.

“Let me tell you categorically.

These Insurgents have a way of putting on masks. They could be so many but we are looking for the real ones. They have been using mask to portray Shekau in one incident or the other to give an impression that he has been killed so that we will relax but we will not relax we are on him.

“Generally, we spoke about security in the country across the nation and I believe we had a fruitful discussion and he was impressed with the performance of the armed forces of the Federal Republic

of Nigeria. Security situation is something that you cannot get 100 percent and remember that Nigeria has been having this turbulence for a very long time.

“We are trying to manage it and we are trying to make it solvable whereby every Nigerian will have peace and tranquility and do his normal business. The directive is that we should do more. The more we put in our efforts, the more Nigeria gets safer. We are doing our best and we have also requested for more in terms of equipment and I can categorically tell you that the Nigerian armed forces have turned to professional armed forces. The training we had - the small arms competition - was last done almost 11 years ago, so also the sports. So, you can see we are joining professionalism with the security challenges happening in the country,” he stated.

He said as a result of the victory which followed the capture of Camp Zairo, villagers now roll out their drums to celebrate.

COURTESY VISIT

L-R: Vice President, Bank Directors’ Association of Nigeria (BDAN), Mr. Sam Cookey Jnr: MD/CEO, Sterling Bank Plc, Mr. Yemi Adeola; and Executive Director, Finance and Strategy, Sterling Bank, Mr. Abubakar Suleiman, during a courtesy visit by BDAN executives to Sterling Bank in Lagos .....yesterday

GCA Energy: We’re Not Involved in N19bn Paris Club Scam Ugo Aliogo The GCA Energy Limited has distanced itself from news making the rounds that it was allegedly involved in the Paris Club loan refund investigation saga.

A publication had quoted the Economic and Financial Crimes Commission (EFCC) to have said that “on December 21, 2016, GCA Energy Limited paid the sum of $25,000 to Asterio Energy Services Limited which subsequently transferred the sum of $23,200 to Cactus Communication Limited account with Access Bank.

“That Acarast Commercial received the sum of N92,685,000 from Melrose General Services on December 20, 2016 and paid the sum of N12,000,000 to GCA Energy Limited, the sum of N73,950,000 to Sought-After International Synergy Ltd. and N9,500,000 to VerticeSolution Limited.”

But GCA Energy yesterday

stressed that the statements credited to the EFCC failed to establish the correlation between the above referenced financial transactions which “we do not deny but are concerned that it has been misconceived and tainted with insinuations that our company was involved in the commission of a criminal act or financial crime. It has therefore become imperative to situate the circumstances of the transactions involving our Company, Asterio Energy Services and Acarast Commercial with a view to distancing our company from any fraud, scam or corrupt dealings.”

GCA Energy explained in a statement that on December 21, 2016, Asterio Energy Services Limited contacted it seeking for assistance to help it raise the sum of $25,000 in exchange for its naira equivalent, which summed up to 12,000,000 as at the time. As players in the energy industry with a history of mutually beneficial business

transactions, the company said it obliged Asterio Energy Services with the solicited assistance believing that the dollar sum it sought was to meet business obligations given the paucity of forex at the time.

Furthermore, it stated that in return, Acarast Commercial, on behalf of Asterio Energy Services, credited its account with the sum of N12,000,000 being the naira equivalent for the dollars availed to Asterio Energy Services Limited.

“Our company was not privy to the relationship between Asterio Energy Services Limited and Acarast Commercial but only received payment for the dollars availed to Asterio Energy Services Limited through Acarast Commercial.

Nothing beside this explains our involvement with Asterio Energy Service, as we have never been involved in money laundering nor been complicit in the reported ‘N3.5 billion Paris Club loan refund.’

GCA Energy Limited is a service delivery integrated energy company in the niche areas of onshore/offshore procurement support services. GCA Energy Limited has maintained a track record in the timely procurement and service delivery of vital parts required for the smooth running of FPSOs, offshore platforms, refineries, petrochemical plants, oil depots, tank farms and other related facilities.

“It’s maintenance, metering and calibration, laboratory, and environmental services have been offered to the energy industry players across upstream, midstream and downstream sectors over the years. We prioritise the goodwill and corporate image of our company and hope that the clarification provided above would aid our law enforcement agencies in the conduct of their investigation as well as detaching our company from any perceived fraudulent activity,” the statement added.

50

TINUBU @ 65‌

WEDNESDAY, ÍşÎ Ëœ ͺ͸͚Ϳ Ëž T H I S D AY

TINUBU @ 65‌

TINUBU @ 65‌

Buhari, Dogara Salute Tinubu at 65 Our correspondents President Muhammadu Buhari and the Speaker of the House of Representatives, Hon. Yakubu Dogara, yesterday hailed former Governor of Lagos State, Senator Bola Ahmed Tinubu, on the occasion of his 65th birthday.

Buhari, according to a statement by his chief spokesman, Mr. Femi Adesina, joined all members of the All Progressives Congress (APC), political and business associates of Tinubu, friends and family to celebrate the milestone recorded by the politician.

According to him, Tinubu's foray into politics ushered in a better understanding of consensus building which he said led to a historical feat that unseated an incumbent president.

The statement also said Buhari believed that Tinubu had raised the bar of many political leaders across the country when he served as a two-term governor of Lagos State, an experience he said prepared the platform to alter the status quo in the political landscape of the state.

It also said Buhari recalled his encounters with Tinubu and affirmed that the nation had largely benefitted from his personal sacrifices, political experience and intellectual foresight and will yet get gain more.

The president, Adesina added, prayed God almighty to grant Tinubu good health, longer life and more wisdom to serve this country and humanity.

On his part, Dogara eulogised Tinubu, describing him as a dogged fighter for democracy and making invaluable contributions to democratic governance in the country.

In a statement issued by his Special Adviser on Media and Public Affairs, Mr. Turaki Hassan, the Speaker described former Lagos State governor as a leader, man of vision, and dogged fighter for democracy and who has continued to make invaluable contributions to democratic governance of Nigeria.

Dogara further likened Tinubu to the proverbial elephant that cannot be described and argued that any attempt to describe him will amount to grave injustice.

He said: "He is undoubtedly one of the leading lights of our modern democracy. I can only say this based on the part I have touched. I see him as someone who is demonstrating the attributes of a true leader."

Like wine which they say tastes better with age, the Speaker, prayed for Tinubu to age gracefully and in good health, so that “some of us who have come to see him as a mentor will continue to learn more and drink from the fountain of his wisdom.�

Ex-Gov is a Made in Nigeria Porduct That is Working, Says Ambode Lagos State Governor, Mr. Akinwunmi Ambode, yesterday described Tinubu as a great Nigerian political product and a successful leader who not only mentored many leaders in the country but laid the solid foundation for the sustained progress of the state.

Speaking at 9th Colloquium held in Lagos to mark Tinubu’s 65th birthday, Ambode said the test of any successful leader all over the world was in the number of leaders such leaders created, and that using the said globally accepted parameter, Tinubu without doubt, is a winner.

Ambode likened Tinubu to a coconut blessed with divine task to be fruitful and useful to humanity, versatile, courageous, which could bear fruit for a long time.

"Like the coconut, some by-products/fruits will get bad along the way or after being sold in the market; in actual fact, the political product may not be the favourite of some other people.

"The bottom line, however, is simple. If Asiwaju Bola Ahmed Tinubu, were a coconut; I dare say, with all simplicity, I would be among the forefront liners that will eat, drink and sleep B.A.T. 24/7," Ambode said.

While alluding to Tinubu’s contribution to the growth of the State, Governor Ambode said: “There is no doubt the Asiwaju political dynasty is a made in Nigeria product. The foundation laid and blueprints developed during his tenure as Governor of Lagos State which cuts across all sections of the State’s economy have actually simplified the process of governance till date.�

Ooni Describes Him as a Great Inspiration to the African Youths The Ooni of Ife, Adeyeye Enitan Ogunwusi Ojaja II, has felicitated with Senator Bola Ahmed

THE JAGABAN IS 65

L-R: Celebrant, Bola Ahmed Tinubu; Lagos State Governor, Mr. Akinwunmi Ambode; and Oba of Lagos, Oba Rilwan Akiolu, at the ninth Asiwaju Bola Ahmed Tinubu Colloquium in commemoration of his 65th birthday in Lagos....Tuesday ABIODUN AJALA Tinubu as he clocks 65 years.

Ooni described Tinubu as an eminent descendant of Oduduwa, patriotic Nigerian elder statesman and pan-Africanist to the core who remains a great inspiration to the African youths for he has in no doubt spent the larger part of his life worthy of emulations.

According to monarch, “As a school student, he designed his focus very carefully and reliably. “As a professional in the private financial sector, he remained focused and discharged his duties creditably well. “As a politician, he has been an outstanding leader and quintessential bridge builder.

As a senator of the Federal Republic of Nigeria, he stood firmly with the masses till he went into exile where he continued alongside other patriots in the struggle for democracy which was won on May 29, 1999. “As a governor, he left a legacy of excellence that continues to make Lagos a socio-economically enviable society within the committee of the globally-recognised cities in the world. “Celebrating this icon whose philanthropic generosity has impacted meaningfully on the masses and whose exemplary political sagacity has been of immense benefit to several public office holders across especially in Nigeria on his birthday can never too much a reward. “May the Almighty Olodumare bless the rest of his journey of life with good health, long life and plethora of fulfillments,� he said.

He Remains PathďŹ nder of a Rare Breed, Says Aregbesola The Governor of Osun State, Mr. Rauf Aregbesola, on his part, described Tinubu, as one rare breed of a pathfinder.

Aregbesola said history has already recorded the former governor as having found ways where there were none and created opportunities for humanity where many did not see any.

The Osun State governor’s message signed by the Director, Bureau of Communication and Strategy, Office of the Governor, Mr. Semiu Okanlawon, recognised Tinubu’s immense contributions to the political and economic growth of Nigeria and indeed Africa.

It said Lagos began to emerge as a truly habitable state after what he described as “Tinubu’s megadevelopment vision� adding that the success story of Lagos has rubbed off on South-West, Nigeria and indeed, the whole of Africa.

Aregbesola said Tinubu’s capacity for talent hunt and leadership recruitment are unparalleled adding that his unique ability to spot the best hands for crucial assignments have elevated him to that pedestal of rare leader of men. “Today, we are celebrating a giant pathfinder; one whose contributions to Nigeria’s political and economic growth have provided development scholars serious models for academic studies.

This is one Nigerian politician whose politics is known to have impacted heavily on humanity. From Lagos where God used him for the emergence of a new state, to Nigeria as a whole and indeed, the continent of Africa where his influence continues to be felt, Tinubu manifests in our lives in all ramifications,� the statement said The governor prayed for longer life for Tinubu

just as he expressed the wish that his visions of a greater Nigeria and indeed, the Black race would continue to blossom.

Kalu Eulogises Tinubu @ 65 Former Governor of Abia State, Chief Orji Uzor Kalu, has described Tinubu as a colossus whose name will remain evergreen in the annals of Nigeria.

Acknowledging the role played by the frontline politician in the social, economic and political development of the country, Kalu added that Tinubu is a bridge builder, a statesman and an outstanding philanthropist.

In a birthday message to the APC chieftain, Kalu extolled the virtues of Tinubu, stressing that the latter is the father of modern Lagos owing to his superlative performance as governor of Lagos from 1999 to 2007.

He said: "I join other Nigerians in celebrating Senator Bola Tinubu, former governor of Lagos State, as he clocks 65. “Having followed your antecedents and accomplishments in life especially in the political space, there is no doubt that Asiwaju Tinubu’s goodwill will continue to expand beyond the shores of Nigeria. “The roles you played in the fight against the annulment of June 12 presidential election and the enthronement of democracy in Nigeria through National Democratic Coalition (NADECO), a prodemocracy group, are commendable and worthy of emulation.

"You have continually sustained your relationship with the masses and as such you remain a formidable force to reckon with in politics. “In view of your ideology and exemplary leadership qualities, you are one of the very few selfless and well-meaning Nigerians.

"Tinubu, you deserve to be celebrated today and always," Kalu remarked.

He is an Indomitable Spirit, Says Gbenga Daniel Former Governor of Ogun State, Mr. Gbenga Daniel, described Tinubu as an indomitable spirit of great mind, insightful opinion, strong heart and exemplary will.

In his message on the occasion of Tinubu’s 65th birthday anniversary, Daniel said Tinubu’s hardwork, dynamism and ‘out-of-the-box’ thinking have received wide appreciation both at home and abroad.

Continuing, he stated: “Your voyage in the nation’s political landscape has been an important period filled with significant achievements for you personally and our country; even those who disagree with your politics still respect your faculty, audacity and charm" On behalf of his family, Daniel joined other well-wishers to celebrate the milestone in Tinubu’s eventful life and pray Almighty God to grant him sound health, wisdom and more years of outstanding success and dedicated service to our dear country, Nigeria.

Lagos Speaker, Obasa Salutes APC Leader The Speaker of the Lagos State House of Assembly, Hon Mudashiru Obasa, has saluted the

courage, determination, dedication, commitment and the will to succeed of Tinubu despite all odds.

Obasa, stated this through his Chief Press Secretary, Musibau Razak, in his goodwill message to celebrate the 65th birthday anniversary of the former governor.

While describing Tinubu as the architect of the modern day Lagos, Obasa stated that the ingenuity and commitment of the erstwhile governor has turned the state once regarded as the dirtiest in the country to not only the cleanest, but one that has also achieved a mega city status.

"He is not only the architect of the modern day Lagos, he is also a great leader of men whose unrivalled ability to discover talent has led to the discovery of great leaders who have turned out to become reference points in great leadership and good governance in the present democratic dispensation in the country, the Speaker said Obasanjo further stated that Asiwaju Tinubu will continue to remain relevant and the main reference point in Nigerian politics forever because of hid selfless and humane nature which centre on the development of the man in particular and the nation in general.

"His love for the common man knows no bound and hid passion for the development and growth of this great country makes him arguably Nigeria's greatest politician of the present political dispensation.

"On behalf of other members of the Lagos State House of Assembly, I greet our leader and wish him more years of fruitful celebration in good health and wisdom", concluded Obasa.

Ekiti APC Brands Ex-gov as Uncommon Political Strategist The All Progressives Congress (APC) in Ekiti State has congratulated Tinubu on the celebration of his 65th birthday.

In a statement in Ado-Ekiti by Publicity Secretary, Taiwo Olatunbosun, the party described Tinubu, who is also the Jagaban Borgu, as a dogged and courageous fighter, a political juggernaut and master strategist with uncommon wisdom of an astute manager of men and materials.

Recalling Tinubu's role in the success story of progressives politics in Ekiti State, Olatunbosun said he achieved that feat as a defender of truth and social justice.

Also describing Tinubu as a politician with a midas touch, the party said the APC's victory in the national election that produced President Muhammadu Buhari was as a result of visionary leadership championed by the Asiwaju of Lagos that led to a national consciousness that gave APC victory.

"Today, as we join millions of our party men and women as well as well-meaning Nigerians to celebrate this icon of democracy, our own Leader, Tinubu at 65, our prayer is that God in His infinite mercy will continue to bless, keep and strengthen you.�

Osun Assembly: He is a Man of Strong Legacies The Osun State House of Assembly under the leadership of Hon. Najeem Salam, has felicitated with Tinubu on the elebration of his 65th birthday.

In a statement signed by the Chairman, House Committee on Information and Strategy, Hon. Olatunbosun Oyintiloye, the assembly described Tinubu as a quintessential, larger than life politician, with passion for democratic ideals and commitment to national development.

It noted that the former governor of Lagos State is a man of many parts, a bridge builder, philanthropist, master strategist and patriot who in many ways has raised the standard of civilisation and human dignity.

The assembly maintained that Nigeria owes Tinubu a huge gratitude for his determination, consistency, doggedness, vision and fearless disposition in the strengthening and enthronement of good governance in the country.

The parliament noted that Tinubu, who is acknowledged by friends and foe, far and near, as a rounded politician, pathfinder, investor, generous and people person, said, through his extra ordinarily large heart and unusual magnanimity of character, he had raised countless men from miry clay, produced several remarkable politicians and business leaders.

The statement pointed that Tinubu warm disposition, visionary leadership and cares for the oppressed and the under-privileged had endeared him to all and sundry.

51

WEDNESDAY, MARCH 29 2017Ëž T H I S D AY

CRIME&PUNISHMENT I Have Killed 18 Civilians, 17-year-old Boko Haram Member Confesses Michael OlugbodeËœ Ă“Ă˜ Ă‹Ă“ĂŽĂ&#x;Ă‘Ă&#x;ĂœĂ“

A 17-year-old suspected Boko Haram member, Ali Mustapha, yesterday confessed that he killed 18 civilians in various deadly attacks the terrorist group carried out in Kala Balge Local Government Area of Borno State recently Mustapha, who admitted being a member of the sect, told journalists in Maiduguri during his parade by the state

Commandant of the Nigeria Security and Civil Defence Corps (NSCDC), Ibrahim Abdullahi, that he participated in series of onslaughts against villagers by the terror group.

He said to the surprise of the journalists that “In all the attacks, all I do was to kill people.�

Mustapha admitted that he was unluckily arrested during one of the few tasks, aside killing for the group, when he was sent to spy on Maiduguri.

He said he belonged to the

Mamman Nur- led faction of the group and was forced to join the terrorist sect three years ago when they attacked his village in Monguno and left with many boys.

He narrated: “I received extensive training and skills in the handling of assault weapons, especially AK 47 rifles, General Purpose Machine Gun (GPMG), Anti-Aircraft Gun (AAG), Rocket Propelled Grenade (RPG) among others,

which I use for the attack on villagers. “I was forced to join Boko Haram about three years ago when Boko Haram insurgents came to our village and forcefully took many of us away.

We were kept in the bush near Kala Balge and from there, we carried out various operations, during which I personally killed 18 persons.�

Mustapha revealed that his last expedition was to sneak

into Maiduguri to spy for his group, as he normally did on the eve of any attack. “I resolved to quit the group on my way to Maiduguri where I was directed to go and gather intelligence report on when troops and Civilian JTF, guarding the entrance of the city, are normally relaxing the intense security surveillance. “I was tired of killing people against my wish, so I told my two other colleagues with

whom we were asked to go on a spying mission that we should abandon the mission and run. Luck ran out on me when I entered into an Internally Displaced Persons (IDPs) camp to look for my parents. “Unfortunately, some of the people in the camp were able to recognise me as member of the sect and quickly alerted the security operatives guarding the camp. So that was how I was arrested,� he stated.

Court Convicts Two for Rape Adibe Emenyonu Ă“Ă˜ Ă?Ă˜Ă“Ă˜ ÓÞã For raping a 16-year-old secondary school student, a Magistrate Court in Igarra, Akoko-Edo Local Government Area of Edo State has convicted two persons, while the third suspect is still at large.  They were sentenced to four years imprisonment with an option of N400,000 fine after pleading guilty for the offence.

The convicts are Monday Ogedengbe and Dauda Iyamah who were convicted on charge no MIG/16C/2017 presided over by Chief Magistrate A. Abhulimen-Iyoha.

The victim, who is a student of Ososo Grammar School, was said to have been gang raped by three men. The two convicts sexually violated her without her consent while the third who is still at large, allegedly covered her mouth and held her down.

The culprits threatened to kill

her to prevent her disclosure of the crime.

She was said to have been dragged out of her school compound and gang raped by the two young men with the assistance of a third person.

The culprits were apprehended by the Ososo Vigilante and the handed over to the Nigeria Police Igarra Division. Executive Director, Brave Heart Initiative for Youth and Women (BHI), Priscilla Usiobaifo, who acted for the victim, however, expressed reservation with the court’s option of fines for “such a serious case as rape.� “BHI strongly condemns the option of fine because no amount can justify such violently traumatic crime, but we see this as a victory anyway. The rapists are now convicts and their names will appear on the Edo State Sexual Offenders Register, she said.

Insecurity: CSOs Advocate Public Cooperation with Immigration Regulations 2017 In order to curb insecurity in Nigeria, some civil society organisations, Coalition of Civil Society and Media Executives for Policy Stability (COCMEP) and Citizens Watch Nigeria (CWN), have tasked Nigerians to join hands with Nigerian Immigration Service (NIS) to actualise the newly launched ‘Immigration Regulation 2017’ by reporting illegal or irregular migrants, organisations and persons including foreign terrorists and herdsmen who contravene Nigerian Immigration laws and engage in trans-border crimes to NIS and relevant law enforcement agencies.

The Executive Director of COCMEP, Innocent Ebirim Okadigbo, and Executive Secretary of CWN in a statement made available to THISDAY yesterday, gave this charge at a press briefing in Abuja.

The coalition commended the Minister of Interior, Abdurrahman Danbazau, and NIS authorities for the successful launch of the Immigration Regulations 2017, which the statement described as “a vital

document that operationalise the Immigration Legal Act of 2015.�

The activists maintained that there is no way the implementation of the new immigration regulation would be effective without the public volunteering useful information to track foreign terrorists, herdsmen and trans border criminals to Nigerian law enforcement authorities particularly the NIS. COCMEP and CWN remarked in the statement that the new immigration regulation is commendable because “it enhances the operations of Immigration Act 2015 which phases out the outdated immigration Act of 1963 and also gives NIS powers to register and monitor the entry and movement of foreigners, protection of Nigerian borders, attraction of foreign investors using modern technology, registration and monitoring of foreign terrorists and herdsmen, thereby preventing herdsmen and farmers clashes as well as enhancing of internal security.�

INSIDE SAMBISA FOREST L -R: Minister of Defence, Brig-Gen Mansur Dan-Ali (rtd); representing President Muhammadu Buhari, Chief of Army

Sta, Lt Gen Tukur Buratai; and Borno State Governor, Alhaji Ibrahim Shettima; and others inside Camp Zero during the opening of the Nigerian Army Small Arms Championship at the Sambisa Forest, Borno State...Monday

Police Parades Notorious Kidnappers, Cultists from South-south, South-east Paul Obi Ă“Ă˜ ĂŒĂ&#x;ÔË The Nigerian Police yesterday paraded some notorious kidnappers and cultists terrorising some states in South-south and South-east geo-political zones.

Parading the suspected kidnappers and cultists, police spokesman, Â Jimoh Moshood, explained that the operations were in response of its resolve to rid the country of kidnapping and cultism.

He said: “The Inspector General of Police (IG) Ibrahim Idris, concerned with kidnappings and other violent crimes in Rivers State and other South– south states, mandated IG Monitoring Unit to unravel those responsible for the heinous and dastard acts and put an end to the menace.�

He listed those arrested to include “Michael Obi, 34,

native of Boki, Cross Rivers State Kelechi Ndukwu, 30, from Ahiazu Mbaise LGA of Imo State Ifeanyi Ezechukwu, 28, Chinedu Amadi, 18.�

Exhibits found range from “locally made revolver pistol, four live ammunition, expended ammunition, locally made Pistol, live cartridges, one expended cartridge, N200,000 as ransom. “The operatives of IG Monitoring Unit carried out raid on a kidnappers hideout at Umuike Allu area of Rivers State on March 20, 2017 about 1230hrs and arrested the above mentioned suspects Michael Obi, 34, and Kelechi Ndukwu, 30, and rescued the victim (name with held), a student of Federal University of Technology Owerri, Imo State.

Equally, on March 23, 2017 about 1010hrs, another raid

was carried out at Umuanwa community Ikwerre LGA in Rivers State and arrested Ifeanyi Ezechukwu, 28 and Chinedu Amadi, 18, for kidnapping their land lady and her son who were promptly rescued by the police team and reunited with their family. “The suspects were identified by the victims and will be charge to court on completion of investigation,� Moshood said.

The police also paraded John Oteh, 25, and Atochi Oteh, 41, as alleged cultists during a raid in their hideout.

During the raid, police discovered “Military Lar Rifle No. 770786, locally made double barrel gun, locally made single barrel cut-to size guns, locally made pistol, seven cartridges and one expended cartridge.�

Moshood explained that

“sequel to the directive of the IG on the activities of cultists in Rivers State and its environs, the IG Monitoring Unit in Rivers State Command working on actionable intelligence with other specialised Technical Units of the force under the supervision of the Deputy Commissioner of Police, swooped on the hideout of vicious kidnap for ransom and cultist gang “Iceland Confraternity� Den in Ebitanwo and Rumuakude Communities and arrested two members of the gang and recovered the exhibits listed above from them. “They confessed to the crime and admitting to the various roles they played in the commission of various armed robberies, kidnappings and other cultist activities linked to them. They will be charged to court on completion of the investigation�

Court Adjourns Shema’s Trial to June 6 Ibrahim Shuaibu Ă“Ă˜ Ă‹ĂžĂ?Ă“Ă˜Ă‹ The Katsina State High Court presided over by Justice Ibrahim Maikaita Bako yesterday adjourned hearing of alleged financial misappropriation against the former Governor of the state, Ibrahim Shema, to June 6.  The defence counsel, Akinlolu Kehinde (SAN), urged the court

to stay action because they had filed a motion before the Appeal Court in Kaduna challenging the jurisdiction of the court.

Kehinde, therefore, urged the court to temporarily stay action pending the determination of the matter at the upper court.

He said the Court of Appeal in Kaduna would sit on the matter on May 25, 2017. Â However, the prosecution

counsel, Lateef Fagbemi (SAN), did not object to the motion filed by the defence counsel.

The High Court judge, Justice Bako, said the court adjourned the case following an appeal filed by the defence counsel at the Court of Appeal challenging the jurisdiction of the court to try the case. “Since the matter has been

taken to the upper court, the court has stepped down until it gives its verdict. ‘’The court has adjourned the case to June 6, 2017, for situation report on the matter,’’ Justice Bako said.

The Katsina High Court handling the financial misappropriation case against Shema had ruled that it had jurisdiction to try the case.

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T H I S D AY WEDNESDAY MARCH 29, 2017

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WEDNESDAY, ÍşÎ Ëœ ͺ͸͚Ϳ Ëž T H I S D AY

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WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

Messi Banned for Four International Matches Argentina forward Lionel Messi has been banned from their next four competitive internationals, starting with last night’s World Cup qualifier in Bolivia, for swearing at a match official, FIFA announced yesterday.

The decision came less than six hours before kickoff of the match in La Paz meaning that the five-times world player of the year will play in only one of Argentina’s remaining five World Cup qualifiers.

His absence will be a severe blow to the two-times world champions who are struggling in the marathon South American campaign where their results have included home defeats by Ecuador and Paraguay and a 3-0 mauling by arch-rivals Brazil.

FIFA said Messi had “directed insulting words at an assistant referee� during the 1-0 win over Chile on Friday, in which he scored the only goal from a penalty.

Television pictures showed him

swearing at Brazilian linesman Emerson Augusto do Carvalho at the end of the match after being harried and fouled by Chilean player Jean Beausejour. The official patted him on the head and tried to calm him down but Messi kept ranting.

FIFA said in a letter to the Argentine Football Association (AFA), published by Argentine media, that the incident was not detailed in the referee’s report at the time and was brought to their attention by the media.

According to the letter, Carvalho said he did not understand at the time what Messi was saying. “I only realised he was swearing afterwards on reading the press,� he said.

Messi, 29, will also miss games away to Uruguay and home to Venezuela and Peru. The Barcelona forward will be eligible again when Argentina visit Ecuador on October 10.

Argentina is third in the 10-team

NPFL‌

Rivers Utd Seeking Redemption as Leaders Plateau Invade Garden City Knocked out of the CAF Champions League by Sudanese Club, Al Merreikh, the ‘Pride of Rivers’ failed to respond in positive fashion as they suffered two moraleshattering reverses in the Nigeria Professional Football League (NPFL) to MFM FC and Enyimba International in their next two competitive fixtures.

It does not get any easier for the Port Harcourt club as they play host to the leaders, Plateau United today in one of the standout fixtures as the NPFL enters match day 16.

Plateau United have surprised many this term with their impressive displays in the division and have amassed 28 out of a possible 45 points after their first 15 league game.

They sit proudly aloft in the NPFL standings and Head Coach, Kennedy Boboye, puts his side’s rip roaring start to the campaign down to ‘hard work and discipline’ but close watchers of the league will readily posit that there may be more to United’s meteoric rise than those two ingredients.

In terms of personnel, the sum probably accounts for more than the parts at United but in Dele Ajiboye, Boboye knows has one of the most flamboyant yet effective goalkeepers in the land.

Elisha Golbe and Joshua Obaje have been outstanding this term while individuals like Sadeeq Yusuf, Emmanuel Olowo and Ibe Johnson have also thrown their weight about with aplomb this season.

Boboye however expects anything but a straightforward

contest against the underperforming Rivers United today. “Rivers United are not pushovers. They are a good team with good players and a good coach. “We will do our best and try to win the game or pick a point at the very least,� he told the Rivers United FC official website, www. riversunitedfc.com.ng. Morale is understandably low in the Rivers United camp but Technical Manager, Stanley Eguma, a wily gaffer with years of experience under his belt, will be looking to rally his troops. “We will face a very strong Plateau United team that have been on top of the log for a very long time now. “We have a lot of respect for them (as they have) done well so far but we (have our backs against the wall) so we have to work above our capacity to get the three points at stake and better our position on the log,� he said.

It’s shaping up to be an extremely compelling contest and unbridled excitement is almost guaranteed today at the Yakubu Gowon Stadium, Port Harcourt. Â

MIDWEEK FIXTURES K’ Pillars v Nasarawa Lobi v Akwa Utd Sunshine v Katsina Utd Rivers Utd v Plateau Utd Wikki v Enyimba ABS FC v Gombe Rangers v Remo Stars MFM FC v Abia Warriors IfeanyiUbah v Tornadoes Shooting v El Kanemi

South American group with 22 points from 13 games but have only a two-point cushion over sixth-placed Chile, with Colombia (21) and Ecuador (20) sandwiched in between.

The top four teams will qualify directly for the tournament in Russia and the fifth side play off against a team from a different confederation for another place. “This decision is in line with the FIFA Disciplinary Committee’s previous rulings in similar cases,�

FIFA said.

Messi has not enjoyed the same success with Argentina as he has with his club Barcelona and announced his international retirement earlier this year before back-tracking on his decision.

He was frustrated after they lost 1-0 after extra-time to Germany in the World Cup final in 2014, then on penalties to Chile in the Copa America the following year and again on penalties to Chile in the Copa Centenario final last year.

Messi‌ slammed for bad manners

C’wealth Games: Queens Baton to Land in Lagos on April 1 Duro Ikhazuagbe Sydney 2000 Olympic Games 4x400m relay gold medalist, Enefiok Udo-Obong and former Team Nigeria Captain, Yusuf Alli are among past and present athletes to race with the Queen’s Baton when it arrives Lagos on April 1.

Udo-Obong anchored breathtaking 1600m race along with the likes of late Sunday Bada, Jude Monye and Clement Chukwu to the silver. But the disqualification of USA’s Antonio Pettigrew for dope upgraded Nigeria’s silver to the Olympic

gold medal.

Chairman of the Main Organising Committee for the Queen’s Baton arrival in Nigeria, Mrs Hauwa Kulu-Akinyemi announced in Lagos yesterday that the baton would also be handed to Lagos State Governor, Akinwunmi Ambode, on April 3.

The Queen’s Baton Relay, similar to the Olympic Torch, is a relay pass round all former British empires prior to the beginning of the Commonwealth Games.

The Baton carries a message from the Head of the Commonwealth, currently

Queen Elizabeth II. The Queen’s Baton is on a 388-day relay race covering more than 140,000 miles and will visit every 52 member-state of the Commonwealth on its way to the Games, being hosted by the Australian Gold Coast in 2018.

Lagos sub-seat Chairman, Emmanuel Nweri, hinted that former Nigerian athletes as well as Paralympians would be on hand to accord the Queen’s baton its traditional respect and partake in the baton exchange.

As part of activities lined up, a city float ceremony with a relay pack of past Commonwealth

athletes, Olympians and Paralympians will stage a parade from the National Stadium, Surulere through Western Avenue to Ojuelegba before heading back to the stadium.

The entourage would visit Pacelli School for the Blind and partially sighted and a visit to Heart of Gold Children’s Hospice in Surulere, pay a visit to NOC Partner SchoolGreensprings Schools in Lekki before visiting Oba S.A Elegushi.

The delegation is expected to depart the shores of Nigeria on the 5th of April to Kenya in continuation of the global tour.

Zenith B’ball League Dunks off April 10 in Abuja The 2017 Zenith Bank Basketball League has been scheduled to start on April 10 in Abuja with the financial institution committing N35million to the sponsorship of the competition.

The Deputy Managing Director of the bank, Ebenezer Onyeagwu, yesterday at the Zenith Corporate headquarters in Lagos told newsmen that contributing to the development of the basketball game over the years was a delight to the organisation.

Onyeagwu said: “We take sports seriously and that is why we have been with basketball for this long period. It is a delight that many of the players have developed to represent Nigeria at international competitions and that is a success story for us. “There have been testimonies of players discovered through the league who are now playing abroad. This has given us joy that the initiative we started from humble beginning has grown to become a very big league. “We will continue to support the initiative, we have already

Deputy Managing Director, Zenith Bank, Ebenezer Onyeagwu (left), handing ove the sponsorship fee cheque to NBBF President, Tijani Umar, at the bank’s headquarters in Lagos‌ yesterday signed on for the next three years, for as long as we see the continued professionalism there, we don’t see reason why we will stop the relationship because you don’t stop a winning team.

We believe our collaboration is a winning one and our youths have now got commitment and we can only but make it bigger.�

The President of the Nigeria Basketball Federation (NBBF), Tijani Umar, however thanked

the sponsors for having faith in the federation. “It is not very easy for partnership to be together for so long, I really want to thank Zenith Bank for standing by us for the past 13 years till this moment. I was privileged to be a board member when it all started in 2005 and remarkably, it has been moving from strength to strength. “In the eight years God

has given me the opportunity to lead the board, it has blossomed, and today, I am part of the success story of the Zenith Bank’s sponsorship of the national women basketball league. “When we started, we have five teams competing, but after 13 years, we now have 18 teams competing which shows how far we have gone,� concludes the NBBF chief.

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MISSILE

Saraki to Customs Service “These documents are available and there is no document anywhere that shows my name. So I want to state categorically that this is not true and it is important that I come here and clear my name and put this matter to rest.” – Senate President Bukola Saraki distancing himself from allegations by the Customs Service that an impounded bullet proof sport utility range rover vehicle belonged to him.

AKINOSUNTOKUN DIALOGUE WITH NIGERIA

akin.osuntokun@thisdaylive.com

Dangerous Relevance of Bad, Sick Trump

“H

e should not have the nuclear codes because it’s very easy to imagine Donald Trump leading us into a war just because someone got under his very thin skin.

We cannot let him roll the dice with America… a man you can bait with a tweet is not a man we can trust with nuclear weapons…. when the president orders a nuclear attack, ‘that’s it. There’s no veto or Congress. No veto by the joint chiefs. The officers in the silos have no choice but to fire. And that can take as little as four minutes”.

I habitually keep away from foreign affairs commentary-except only as it directly impacts Nigeria. My take is that there are tons of qualified experts out there who are better able to adequately grapple with extra Nigeria issues. I consider it presumptuous of me to presume to pontificate on the European Union, France, China, NATO, Uganda and others.

An element of this habit has to do with avoiding what the Nigerian fraternity of the pen calls “going Afghanistan”-that is deliberately avoiding more relevant subject matters for whatever reasons. A large part of it has also to do with the fact that Nigeria (inclusive of sub-Sahara Africa) is peripheral, almost of no consequence, to the global community-except maybe as a nuisance, an object of pity and derision.

Where however President Donald Trump is concerned, I have decided to make an exception. For that turn of phrase I give the original credit to Denzel Washington in the movie titled “Equalizer”.

The two Presidents that scare me the most in the world are Donald Trump of the United States of America and Kim IL Song of North Korea. Both basically share the same personality impulse and are prone to the Samson complex. These two men are governed by an infantile ego driven impulse of mutually assured destruction, MAD. If it becomes clear they are going down, they are going to try and bring down the World with them.

America appears to have sleep walked into disaster and the resilience of its normative political order is being put to hard test by the new normless sheriff in town. The consolation is that America has an inbuilt sturdy mechanism of anticipating and containing a rogue President. How America manages to egg this bull out of its china shop is going to remain a classical case study in rogue leadership management. Of equal concern is how God’s own country descended from the Olympian heights of the noble exceptionalism of electing Barack Obama, its first African American President, to the valley of the base level perversion of electing a serial pathological liar, devious racist and sadistic philanderer as Obama’s successor; a dialectical reversal from progress to regression.

In a most cruel irony of fate, of brazen double jeopardy, we are perplexed at

Trump

how an unrepentant transgressor who, through the peddling and perpetration of a corrosive blatant lie, inflicted a deep laceration on an innocent predecessor, could be gifted the rarefied political prize of successor to his victim. What lessons are we supposed to learn from this apparent triumph of evil?

I am writing from Nigeria and the fact that a commentator from a country with such poor leadership standard can presume to lecture America on leadership standards is a testimony to how low Trump has taken America. It is a platitude to say that the American election that produced the new ‘big beautiful wall’ President reflects a particularly shocking degenerate propensity in the American electorate. The more alarming revelation is that Trump is a personification of at least forty per-cent of the American electorate-that category whom Hilary Clinton so aptly depicted as ‘deplorables’..”You can put half of Trump supporters into what I call the basket of deplorables” She said. What characterisation can be more appropriate for a typical supporter who, impervious to reason and education, inveighs ‘Obama is a Muslim who hates America’ well into the last year of the second term tenure of the former President.

Three weeks ago, President Trump broadcasted the concocted lie that Obama wire-tapped him: “Terrible! Just found out that Obama had my “wires tapped” in Trump Tower just before the victory.

Nothing found. This is McCarthyism!

How low has President Obama gone to tapp my phones during the very sacred election process. This is Nixon/Watergate.

Bad (or sick) guy!”. The dark truth is that Trump’s fixation with Obama (as fall guy) is rooted in the latter’s vulnerability and utility as lightening rod for stoking the undying embers of racist bigotry in America-to which a substantial proportion of white male America are covertly and overtly sworn.

More illumination was shed by the Atlantic magazine “Trump made himself the face of the so-called birther movement,

which had as its immediate goal the demonization of the country’s first African American president. Trump’s larger goal, it seemed, was to stoke fear among white Americans of dark-skinned foreigners”.

The CNN writer, Nia-Malika Henderson, similarly reasoned “For Trump’s base, Obama is the ready-made villain, he launched a kind of trial run for the White House in 2011 by embracing birtherism.

Long after most had given up speculating about Obama’s birthplace -- and years after Obama released his birth certificate -- Trump clung to the racially charged conspiracy theory, insisting that there were still more unanswered questions. It took him five years to finally let it go. Now, it seems, Trump may have landed on a conspiracy theory that has equal staying power. In fact, the contours of his recent Obama fixation have much in common with birtherism. With his wiretapping claims, Trump once again positions himself as the great unmasker of Obama, a fraudulent figure who isn’t who he says he is -- or so the theory goes”.

The most authoritative repudiation of Trump as a liar lately came from the FBI director: “With respect to the President’s tweets about alleged wiretapping directed at him by the prior administration, I have no information that supports those tweets and we have looked carefully inside the FBI. The Department of Justice has asked me to share with you that the answer is the same for the Department of Justice and all its components. The department has no information that supports those tweets.”

A lot has been said and written about the potency of these lies to debase and undermine the credibility of the American Presidency (but), the damage to the American society is actually deeper and more extensive. American children are being schooled by their President that it is not only meet and proper to lie but that when you are called out on the lie, the proper response is to insist on the lie and refuse admission of any wrongdoing. Here are the prescient comments of Michelle Obama at the last Democratic Party convention in Philadelphia.

“We know that our words and actions matter not just to our girls, but to children across this country. Every word we utter, every action we take, we know they are watching. We as parents are their most important role models. This election is about who will have the power to shape our children for the next four or eight years of their lives.”. She added “Being president doesn’t change who you are, it reveals who you are” And it is not as if there were not sufficient troubling indications of what a potential Trump Presidency harbours for America.

At the risk of sounding illiberal-there was the prospect of a first lady who used to pose in the nude. By itself, this colourful resume may be readily discounted but

taken together with the totality of the Trump record with women, a rampaging licentious misogynist perversion, it portends the subsisting real life decadent Trump incumbency. The Trump era phenomenon that has emerged in American democracy is a weird portrait of mutual unintelligibility between the wilfully blind and fanatical supporters of Donald Trump versus the thinking, common sense demographic of American society. From the latter came the following prior character witness of the emergent President: “I am not a highly partisan person. I have views that are left of centre, but others that are conservative. I think well of many Republican politicians, including the last two GOP presidential nominees, John McCain and Mitt Romney, both of whom are honourable men and would have been good presidents.” “Donald Trump is different. “Not just because he is obnoxious, tacky and vulgar, or that his business dealings show him to be a scam artist. He is different because of what he believes…. Trump’s views on policy issues, from social security to taxes, are insincere reflections of what he thinks his supporters want to hear” remarked Fareed Zakaria.

“Trump seems to believe deeply in ethnic stereotypes. The common thread is that Trump is quick to tell Americans facing economic hardship that they should blame their problems on foreigners. He has said and done dozens of things over 30 years that confirm a demeaning view of women -- in interviews with Howard Stern, during his ownership of the Miss Universe pageant, when describing working women and when debating female candidates like Carly Fiorina and Hillary Clinton. In addition, Zakaria said, Trump has contempt for many of the foundations of liberal democracy, from banning Muslims from entering America to threatening to jail his opponent if he is elected. “Donald Trump is not a normal candidate. He is a cancer on American democracy,” Zakaria concluded.

Donald Trump, argued the Atlantic magazine,” has no record of public service and no qualifications for public office. His affect is that of an infomercial huckster; he traffics in conspiracy theories and racist invective; he is appallingly sexist; he is erratic, secretive, and xenophobic; he expresses admiration for authoritarian rulers, and evinces authoritarian tendencies himself. He is easily goaded, a poor quality for someone seeking control of America’s nuclear arsenal. He is an enemy of fact-based discourse; he is ignorant of, and indifferent to, the Constitution; he appears not to read” To the misfortune and consternation of the US and indeed, the whole world, all this was to no avail as the early morning pall of November 10th 2015 gave birth to the unexpected and unwanted monstrous baby.

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