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INEC Accuses Parties of Fielding Ex-convicts, Certificate Forgers Sets up special unit to prosecute offenders Onyebuchi Ezigbo in Abuja The Independent National Electoral Commission (INEC) has blamed political parties for the high incidence of court-nullified elections by nominating candidates who do not adhere to the rules and

proper due diligence. The chairman of the commission, Prof. Mahmood Yakubu said that as a result of the lack of due diligence, some of the parties have fielded

ex-convicts and candidates with forged certificates for elections, thereby causing the elections to be nullified at the courts. Yakubu who promised

to take steps to reduce the malfeasance during elections, said the commission would step up its partnership with civil society groups, especially in civic and voter education

and election monitoring and observation. Speaking at the formal presentation of INEC’s Strategic Plan for 2017-2021 to stakeholders yesterday

Oando Finally Turns the Corner, Records N3.5bn Profit... Page 8

in Abuja, Yakubu said the management of INEC has decided to set up a special prosecution unit staffed by trained prosecutors to facilitate prompt and more efficient prosecution of electoral Continued on page 9

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Britain to Lift Veil on Nigerian Property, Bank Account Owners Envoy: It’s in line with UK’s beneficial ownership register How Buhari ordered Ifeanyi Ubah’s arrest for diversion of NNPC’s products Olawale Olaleye in Lagos and Alex Enumah in Abuja with agency report In furtherance of the Nigerian government’s goal to rid the country of corruption, the Executive Secretary of the

President Advisory Committee against Corruption, Prof. Bolaji Owosanoye has revealed that the British Government will from next year release information on Nigerians who own property and bank accounts in that country.

The measure will come into force when Britain starts the enforcement of the Unexplained Wealth Order, he said. Owosanoye told the News Agency of Nigeria (NAN) in New York that negotiations

on this had reached an advanced stage, adding that the measure being taken by the governments of both countries was a step up in the fight against corruption. “There’s no doubt that rogues in government oppress

and impoverish their people by corruption and this must be sanctioned by collective action. “We need to make sure that there is no safe haven for corrupt officials to run to. “Britain has promised that by 2018, she will provide

Nigeria with the information about who owns what and where; that’s very helpful. “These include all the houses that have been bought by public officials or accounts Continued on page 8

In Explosive Meeting with NWC, APC Senators Insist on Magu’s Ouster Party seeks senators’ support on funding, agrees to work with caucus Onyebuchi Ezigbo and Damilola Oyedele in Abuja The meeting of the Senate caucus of the All Progressives Congress (APC) and the National Working Committee (NWC) of the party yesterday was characterised by fireworks, as the senators without holding back, expressed their disappointment with the party's leadership and the executive arm of government. Some of the issues discussed at the meeting included the inaction of President Muhammadu Buhari on the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, the suspension of the former majority leader, Senator Ali Ndume, the delay in the constitution of boards of agencies and parastatals, and non-consultation of party Continued on page 8

STANBIC IBTC RINGS THE MARKET'S CLOSING GONG... Chief Executive Oﬃcer, Nigerian Stock Exchange (NSE), Mr. Oscar Onyema; Chief Executive, Standard Bank, Africa Regions, Mrs. Sola David-Borha; Chief Executive, Stanbic IBTC Holdings PLC, Mr. Yinka Sanni; Executive Director, Capital Markets, NSE, Mr. Haruna Jalo-Waziri; and Head, Marketing and Communications, Stanbic IBTC, Mrs. Nkiru Olumide-Ojo, when executives of Stanbic IBTC rang the closing bell at the NSE, in Lagos... yesterday

T H I S D AY WEDNESDAY APRIL 5, 2017

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Oando Finally Turns the Corner, Records N3.5bn Profit Goddy Egene After two consecutive years of losses, Oando Plc finally returned to the black with a profit after tax (PAT) of N3.5 billion for the year ended December 31, 2016. The recession in the country, volatility in oil prices, pipeline sabotage in the Niger Delta, reduced oil exports, suspension of projects and cuts to capital spending have left several companies in Nigeria, especially those in the oil and gas industry, grappling with generating

value for their shareholders. Amidst these challenges and its huge debt overhang, Oando Plc was able to buck the trend by posting a profit. In its audited results Oando Plc recorded a turnover of N569 billion in 2016, showing an increase of 49 per cent from N382 billion reported in 2015. Also its earnings before interest, tax, depreciation and amortization (EBITDA) increased by 51 per cent from N47 billion to N71 billion, while PAT stood at N3.5 billion, compared to a loss of N47.6 billion in 2015.

Commenting on the results, the Group Chief Executive, Oando Plc, Mr. Wale Tinubu, said: “2016 saw the country plunge into a recession, the first in over two decades, besieged with liquidity constraints, devaluation of the naira and a slump in oil earnings due to low oil prices intensified by the insurgency in the Niger Delta. “We were proactive in the timely execution of our restructuring programme of growth in our upstream division; deleveraged through divestments resulting in a net

debt reduction of N125 billion; and profitability by focusing on dollar denominated earnings.” Tinubu said in the midstream sector, the company concluded the partial divestment of Oando Gas and Power (OGP) to Helios Investment Partners to further expand the company’s gas footprint. “In the downstream, our trading business continued to make in-roads in crude lifting. As we enter a new phase in our business evolution we are optimistic about 2017 and look forward to even more

successes having braved the challenges of 2016.” In the first quarter of 2016, the company successfully restructured its existing obligations through a N108 billion medium-term facility with a syndicate of nine leading local banks. It also completed the full divestment of its upstream services business (Oando Energy Services) and the recapitalisation of its downstream business through its divestment to Helios Investment Partners, a premier Africa-focused private

investment firm valued at $115.8 million, and the Vitol Group, the world’s largest independent trader of energy commodities to the tune of $210 million. The recapitalisation of Oando’s downstream operations represented the largest inflow of foreign capital in a single transaction in the oil and gas sector in 2016. This strategic initiative, the company explained, was positioned to revolutionise Nigeria’s downstream sector and create one of Africa’s largest downstream operations.

party. A party source disclosed that the NWC also presented its plans for the party’s national convention as well as the challenges it is contending with, particularly the paucity of funds and how this is hampering planning for the convention. The party’s leadership recently took steps to raise funds internally through levies and voluntary contributions by its members, but the effort has not yielded much. The NWC also appealed to the Senate leadership to help in moderating the behavior of some of its members who are considered extremely critical of the Buhari administration despite being in the same party, a party source revealed. Briefing newsmen after the meeting, Oyegun called for a ceasefire between the executive and the Senate for the sake of national development. “I want to pay tribute to the National Assembly for the degree of cooperation that they have been extending to the executive in spite of the seeming differences under the surface. “Secondly, I want to say that we have now completed our consultations with the National Assembly and we are going to move forward from now.

“One appeal I have to make is that it is necessary for all, at all levels of governance to maintain some level of respect and civility. “My appeal is that as we start reconstructing relationships and consultations, there should be what I call a ceasefire in terms of the kind of verdict used all round. “Once that is done, I can assure you and assure the nation that in the next couple of weeks we will have a level of amity, cohesion, cooperation and mutual respect between the three arms of government and the party,” he said. Oyegun added that he had received the assurance of the Minister of Budget and National Planning, Senator Udoma Udo Udoma, that the ministry and the National Assembly have been very cooperative in working on the 2017 budget. Saraki, on his part, said regular consultations between the legislature and the party were important, whether there is a crisis or not. “As I said yesterday (Monday), some of these issues that we have, I don’t believe that there are fundamental issues more important to our people than the budget. “Despite all the noise you

heard last week, we still passed an amendment to the INEC law that had been there for over six or seven years. By this time next week, our Committee on Petroleum will lay to rest the PIB (Petroleum Industry Bill), which has never been done. “We are focused on the major issues and we are not going to be distracted from that. And we are still going to do our work. “It is unfortunate, but the most important thing is that a lot of stakeholders must respect these institutions. These institutions are there now and they are going to be there after we are gone and we should not allow our selfish interests to ridicule these institutions. “Institutions are what we have and we must ensure that we respect that,” he said. The Senate President also stressed that the issues with the executive would not distract the Senate from its commitment to the welfare of Nigerians. “For us in the Senate, we are focused. We will continue to work. Today we are talking about meningitis, looking at how we are going to find funding for that. “So, none of these issues is distracting us from that. And I think we have shown that over the last few weeks,” he added.

we have in the register. That is all I know on the matter,” he said. The British government unveiled a groundbreaking international deal to automatically share information on the ultimate owners of companies with key EU allies, making it more difficult for firms to dodge tax or funnel corrupt funds. In this regard, Britain initiated an agreement with Germany, France, Italy and Spain that will see tax and law enforcement agencies from the five countries exchange data on company beneficial ownership registers and new registers of trusts, allowing for more effective investigation of financial wrongdoing. It also estimated that £122 billion worth of property in England and Wales is owned by offshore companies and, according to Transparency International research, approximately three-quarters of properties whose owners are investigated for corruption are held through offshore companies. The UK government acknowledged that there may be a number of ways of making property ownership by foreign companies more transparent, for example by

extending what is currently asked of UK companies to foreign companies too.

the proposal would ensure that the ambassadors are able to carry out their primary duties of positively representing the country. He reiterated the zero tolerance stance of the Muhammadu Buhari administration for corruption and urged the ambassadors-

IN EXPLOSIVE MEETING WITH NWC, APC SENATORS INSIST ON MAGU’S OUSTER members and stalwarts in making key appointments. The closed-door meeting which held at the National Assembly complex, began at 2.34 p.m. and lasted for about two and a half hours. It had in attendance the National Chairman of the APC, Chief John Oyegun, Deputy National Chairman, Senator Lawal Shuaibu, National Organising Secretary, Senator Osita Izunaso, National Publicity Secretary, Mr. Bolaji Abdullahi, Special Adviser to the President on National Assembly (Senate) Senator Ita Enang, and other party executives. Senate President Bukola Saraki led the Senate caucus to the meeting, the first between the caucus and the party executives since the inauguration of the eighth assembly almost two years ago. The meeting was at the instance of the NWC to mediate in the lingering face-off between the executive and the Senate. The lawmakers, who spoke off the record after the meeting, disclosed that they expressed disappointment that the resolution of the Senate on Magu had not received any response from the president, despite his rejection twice by the Senate.

“We let them know we feel disrespected as an institution. How can the Senate send a memo to the president on Magu and there has been no response? “But by choosing to be silent and letting him continue in an acting capacity, it is a slight on us as an equal arm of government. “We also let them know that the delay in the constitution of governing boards of agencies and parastatals is affecting us as party stakeholders. People who put in their all, mobilised for the party’s success in the 2015 general election are yet to be rewarded, and they call us everyday to ask us what is going on. “The president has refused to make key appointments and even the few ones he has made, critical stakeholders were not consulted. Does he (Buhari) want to fill all the slots by himself? “What about the people who worked hard at the state levels, what is their fate?” the lawmaker asked. He disclosed further that the NWC appealed to the Senators to reconsider the suspension of Ndume. “We have taken a decision to suspend him. It is that simple,” the lawmaker stated.

Another lawmaker disclosed that the senators also expressed disappointment that the Oyegun-led NWC has ignored a bloc as important as theirs for such a long time and did not deem it fit to meet with the caucus almost two years into the lifespan of the administration. “We let Chief Oyegun know he is part of the problem. How could he not have met with us regularly and it is only now when there is a crisis that he thinks he should meet with us? “We were inaugurated, no agenda from the party, no inclusion. But they chose to fight us because we did not let them impose leaders on us. The party was treating us like the enemy, like the opposition,” the lawmaker said. He added that at the end of the meeting, Oyegun assured the APC Senate caucus that the party would take urgent steps to correct the mistakes of the past. “We expect the NWC to take our messages to the president and let him know we are really aggrieved,” the lawmaker said. The leadership of the APC also used the opportunity of what Oyegun described as a “historic meeting” to solicit the support of its Senate caucus to canvass for funding of the

BRITAIN TO LIFT VEIL ON NIGERIAN PROPERTY, BANK ACCOUNT OWNERS that are held by public officials on which they are right now not paying taxes or which they cannot explain the sources. “So if you cannot buy a house in England, you have to look for somewhere else. “But if all countries criminalise this, then it becomes much more difficult unless you want to buy the house on Mars,” he said. The presidential aide also explained that Nigeria and other African countries, who are victims of illicit financial flows, must challenge developed countries to block illicit financial flows from developing countries. “Receiving states – the countries of the North – need to be proactive to block the proceeds of crime even before a request is made by victim countries. “This is because, in many situations, it is clear that illegality is taking place. “We think that reversing the burden of proof to improve the confiscation of criminal proceeds of crime would help, especially when we are going after the asset and not necessarily the person. “If the person who claims to own the asset would not cooperate in giving information, then this should

be a point in favour of the state,” Owosanoye said. He contended that the burden of proof for criminal proceeds should shift to the suspects and not the government, citing the case of a former Managing Director of the Nigerian National Petroleum Corporation (NNPC). “A former Managing Director of the NNPC was found with nine million dollars cash and over 70 million naira in his house in a small place he has built. “He said the money was a gift. He was asked if he could tell the very generous angels who gave him this money. “He’s not been able to provide that information. That sort of disposition should be used to penalise a claimant of asset who cannot justify the origin of the asset. “The proposed Unexplained Wealth Order in England, which hopefully we were told would pass through the legal process this year, should really help to deepen the conversation in this regard. “It (Unexplained Wealth Order) would help to quickly recover assets,” the presidential aide said. Owosanoye said available research records showed that

about 60 per cent of capital flight from Africa came from Nigeria because of the size of its economy. When contacted on the issue, although the British High Commissioner to Nigeria, Ambassador Paul Arkwright said he was not aware of Owosanoye’s remarks in New York, he did clarify that it may not be unconnected to the UK’s beneficial ownership register which was announced by the former British Prime Minister, David Cameron, a year ago. Arkwright informed THISDAY that the British government had taken the leadership in the beneficial ownership register under Cameron last year, adding that at an anti-corruption summit held in Abuja last May, the British government had also assured the Nigerian authorities of its preparedness to provide information on the beneficial ownership of assets held by Nigerians in Britain. “The UK has taken the leadership in the beneficial ownership register which the former PM David Cameron unfolded in April last year. “And at the anti-corruption summit held in Abuja in May last year, we promised to help Nigeria with the information

EFCC Desk Ofﬁces for Foreign Missions In a related development, the Economic and Financial Crimes Commision (EFCC) yesterday announced that it would be establishing desk offices at Nigeria’s foreign missions in order to facilitate the recovery of the country’s looted funds that have been stashed in countries overseas. Chairman of the EFCC, Mr. Ibrahim Magu made the disclosure at the fiveday induction programme for ambassadors-designate in Abuja. He said: “To enhance international cooperation in the fight against corruption, we will propose the establishment of EFCC desks with our operatives deployed to collaborate with other law enforcement agencies in our foreign missions. “They will assist in the investigation of crimes pertaining to money laundering, cyber crime, advanced fee fraud and issues relating to asset recovery.” The EFCC chairman expressed the conviction that

Continued on page 9

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˾ WEDNESDAY, APRIL 5, 2017

NEWS

Michelle Obama Photographed With Natural Hair after Eight Years of Keeping It Straight Michelle Obama might have been keeping a relatively low profile since leaving White House but her devoted legions of fans are still closely following her every move. As such, the former First Lady has been photographed sporting her natural, curly hair. The image, which has quickly gone viral, has been widely praised across various social media platforms. Despite the fact Mrs. Obama, who married Barack Obama in 1992, opted to blow dry or straighten her hair while living in the White House, fans often superimposed images of

Mrs. Obama with curly hair and articles speculated about what she would look like with her natural hair. Mrs. Obama, who has held consistently high approval ratings with the US public, has been lauded for the image which has been liked 84,000 times and retweeted over 30,000 times since it was shared by a fan. It is not clear where or when the photo was taken but the outgoing First Lady is currently in French Polynesia with her husband. The former president is writing his White House memoir at a resort in Tetiaroa – the South Pacific Island once owned

by Marlon Brando. People have heaped praise upon Mrs. Obama on Twitter and called the Chicago native a role model. One fan said: “Seeing Michelle Obama’s natural hair is life changing.” Some said they had long been waiting for this moment and questioned why she had not worn her hair naturally in the White House. “Seeing Michelle Obama wear her hair natural while serving as First Lady... would’ve made my whole life,” said one. Mrs. Obama was undoubtedly one of the most enduringly popular figures of the 2016 election.

Bolstered by consistently high popularity ratings, the First Lady was applauded for her barnstorming speech against Donald Trump last Autumn and her impassioned efforts on the campaign trail. After Trump’s seismic victory, discussion about whether Mrs. Obama would run for president went into overdrive. Nevertheless, the Chicago-born lawyer has ruled out running for office when pressed about it. During her time in Washington, Mrs. Obama carved out a massive online presence, garnering 7.6m followers on Twitter and 11.9m on Instagram. She

even has a Snapchat and has appeared on James Corden’s wildly popular

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He said the affected staff were being prosecuted in court by the Office of the Director of Public Prosecution. “All the 23 affected staff have been placed on suspension and on half salary until they prove their innocence at the courts and we are going to do the same thing with the other 202 staff indicted by the EFCC who are still being investigated by the commission. “While we continue with these efforts, my position has consistently been that it is very, very difficult for one to prosecute himself. “INEC has been saddled with the responsibility for the prosecution of electoral offenders but look at the challenges we have. “When you want to make arrests of electoral offenders, the commission has no police to make the arrest. Secondly, we have to investigate it so that you can have the evidence that will make for successful persecution. “We have no powers under the law to conduct investigations, so how do

we successfully prosecute? “That is why I said consistently that this country needs a special electoral offences tribunal which every violator of the electoral law will be subjected to, be it INEC staff or any other person. “This is the solution so that if you violate the electoral law, you would know that there will be justice for whoever is involved,” he stressed. On the effort to enforce adherence to the rules by the political parties, the INEC boss said the commission would step up action on monitoring political party activities, especially candidates’ nominations and campaign finances in order to reduce the impunity perpetrated by the leadership of these parties. In the same vein, the Inspector General of Police assured INEC that the Nigerian Police would do everything within its powers to check rigging and electoral violence in future elections in the country. The IG, who was represented by a Deputy

Commissioner of Police Oluwole Olakode, said that the police would collaborate more with INEC to weed out the bad eggs that continue to perpetrate electoral malpractices. Earlier, while unveiling the electoral body’s five-year strategic plan titled, “Making Votes Count,” containing the roadmap and initiatives that the commission intends to implement between 2017 and 2021, INEC’s consultant, Otive Igbuzor said that the careful implementation of the plan would pave the way for the smooth conduct of credible and transparent elections in 2019 and beyond. A guest speaker at the event and the Director General of the Voice of Nigeria, Osita Okechukwu also urged the federal government to ensure adequate funding for INEC to enable it conduct credible elections. According to Okechukwu, the only thing that can help deepen democracy in Nigeria is the ability of the electoral umpire to organise credible elections.

carpet for too long before they were brought to the attention of the president soon after the Senate intervened. According to presidency sources, the NNPC under its new management then wrote to the Economic and Financial Crimes Commission (EFCC) and DSS, accusing MRS and Capital Oil of diverting products belonging to the corporation, a report the agencies were said not to have treated with the urgency it required. But when MRS saw that the alleged diversion was about to get the firm into serious trouble, it moved promptly to refund NNPC all that it took from it, prompting the corporation to update the DSS on MRS’ payment. But it insisted that Ubah’s Capital Oil was still evasive, uncooperative on the matter, and was not prepared to refund what it took illegally from NNPC. The letter to the DSS, THISDAY gathered, was compelled by the alleged reluctance of the EFCC to act after a long time of

having been informed of the development. Unfortunately, the inclusion of the DSS too, the presidency official volunteered, remained unresolved until it was brought before the Senate, which immediately made it a matter of urgent public importance. It was at this point that the issue was said to have been brought to the attention of Buhari, who in turn summoned the DSS leadership “and screamed at them for not acting as expected and exposing the fraud perpetuated by Capital Oil”. The presidency source said that the president was embarrassed by the development, adding: “He (Buhari) queried why the DSS had not acted since it was intimated of the issue. “He asked the DSS if it was not the same thing the marketers were accused of doing under Jonathan, a situation that would later become an issue for the APC during the election campaigns. “He said allowing it to

continue to fester under him was not acceptable and ordered the DSS to act immediately.” It was based on the president’s order, THISDAY gathered, that the DSS swooped in on Ubah last week and arrested him. Although he is said to be helping the DSS with their investigation, details of his interrogation are yet to be made public. But reacting to news reports about his arrest, Ubah said there was no such thing. He maintained that he reports at the headquarters of the DSS in Abuja everyday, adding that the DSS was merely mediating in a financial dispute he has with the NNPC. Ubah has previously stated that he did not divert the corporation’s products, insisting that NNPC owed him a lot of money in the form of throughput and storage fees. He said the sale of the corporation’s products was backed by an agreement he had with NNPC to offset his unpaid fees.

Michelle Obama

INEC ACCUSES PARTIES OF FIELDING EX-CONVICTS, CERTIFICATE FORGERS offences. On the monitoring of party primaries, Yakubu said the powers of the commission were limited under the present electoral law, adding that INEC is bound to accept any candidate submitted to it by the leadership of a political party to avoid running foul of the law. However, the INEC boss took a swipe at the attitude of some of the political parties which he accused of not paying attention to proper due diligence in deciding on the choice of its candidates for election. “If political parties had carried out the due diligence on their candidates, we will never have the kind of problems we have with numerous elections being nullified on account of improper conduct of party primaries. “It has been observed that some parties have nominated persons such as ex-convicts as candidates and INEC has no power to rejects such candidates, only for the courts to nullify the elections after

they have been conducted. “Some have even nominated candidates with cases of certificate forgery, only for the court to nullify the elections,” he said. On the relationship between INEC and the State Independent Electoral Commissions (SIEC), Yakubu said the commission has extended assistance to the state electoral bodies in the conduct of local government elections. He gave examples of such collaborative ventures with SIECs in Lagos, Sokoto, Niger and Kaduna States, adding that whereas Sokoto has received assistance in deploying its card readers for the state’s local council polls, Kaduna State has expressed interest in going a step further by working with the commission in test-running the electronic voting initiative during its local council elections. While lamenting the predicament of the commission, especially in curbing electoral malpractices and violence, Yakubu said that

the commission has decided that in the absence of an enabling law establishing an electoral offenders’ tribunal, it would set up a special unit for the prosecution of offenders. “In order to facilitate more effective prosecution, reduce impunity and enhance deterrence, the commission will establish a prosecution unit staffed by trained prosecutors to facilitate quicker and more efficient prosecution of electoral offences,” he said. The INEC boss said so far, the commission in collaboration with the police and the Federal Ministry of Justice, has successfully prosecuted and convicted 61 electoral offenders out of 126 cases since the last general election in 2015. He also commented on the actions taken against the commission’s staff indicted by the police and the Economic and Financial Crimes Commission (EFCC) probe panels, saying that 23 officials had been placed on interdiction until their trial in court is concluded.

BRITAIN TO LIFT VEIL ON NIGERIAN PROPERTY, BANK ACCOUNT OWNERS designate to join in the fight against corruption in order to save the nation and its unborn children. He said a chunk of Nigeria’s wealth had been stolen and hidden in foreign countries by highly placed persons who are adverse to the economic growth and advancement of the country, adding that the new ambassadors have a crucial role to play in the recovery of the funds. Magu further disclosed that the agency had already dispatched its operatives to some countries for this purpose and challenged the ambassadors-designate to be of great assistance to the nation's cause by working in synergy with international agencies such as the INTERPOL and FBI, among others. “It is expected that as ambassadors and high commissioners you will network with other countries’ embassies to assist in law enforcement activities aimed at tracing, freezing, confiscating and repatriating stolen assets across jurisdictions,” he said. According to him, such

alliances with other missions will enhance intelligence gathering, investigations and speedy prosecution. He added that the commission plans to commence with the deployment of operatives to the US, UK, France, Italy, Switzerland, South Africa and Ghana in collaboration with the Ministry of Foreign Affairs. Also speaking, National Security Adviser, MajorGeneral Babagana Mongunu (rtd.) charged the ambassadorsdesignate to work closely with their host governments in the area of information sharing to enable nations of the world defeat the monster he called terrorism and other transnational crimes.

Why DSS Swooped in on Ubah Meanwhile, new details have emerged on how President Muhammadu Buhari personally instructed the Department of State Services (DSS) to arrest the Group Managing Director of Capital Oil and Gas Limited, Mr.

Ifeanyi Ubah over his alleged illegal diversion and sale of petroleum products belonging to the Nigerian National Petroleum Corporation (NNPC). Ubah’s Capital Oil operates one of the largest tank farms in Lagos and has over the years provided throughput and storage services for NNPC’s imported petroleum products. However, some years ago, Capital Oil was accused of diverting and selling products belonging to the state-run oil firm without remitting the proceeds to NNPC. Despite the allegations, Ubah continued to walk free until his arrest last week. Although Ubah had first denied reports of his arrest and subsequent detention, he later said it was a friendly invitation for interrogation, now requiring his daily visits to the DSS head office in Abuja, the nation’s capital. THISDAY gathered that the allegations of products diversion against Ubah and another oil company, MRS, had been swept under the

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

NEWS

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

NEITI: N7.2tn NNPC, NPDC Unpaid Oil Proceeds Can Fund Economic Recovery Says 20% of funds can offset 2017 budget deficit

Chineme Okafor in Abuja The Nigeria Extractive Industries Transparency Initiative (NEITI) has asked the federal government to finance Nigeria’s recovery from its present economic recession with about N7.2 trillion reportedly owed the federation as unpaid oil and gas incomes by the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Nigerian Petroleum Development Company (NPDC). NEITI said in its latest policy brief: ‘Unremitted Funds, Economic Recovery, and Oil Sector Reform,’ released yesterday in Abuja, that the NNPC and NPDC still owed the country $21.778 billion and N316.074 billion from oil assets’ sales and divestments, taxes, and dividends on oil and gas operations. It noted that when added up, these unpaid oil revenues amounted to N7.2 trillion, which can be used by the 36 states in the country and federal

government to fund recoveries from economic recession. From its computation of the unpaid revenue and what it could do for Nigeria’s economic recovery plan, NEITI explained that if 20 per cent of it were recovered, it could fund significant parts of the deficit in the federal budget for 2017, while one-third of it could completely eliminate any need to borrow to fund the budget. According to it, the funds withheld by NNPC and NPDC offered the government huge and interest-free opportunity to stimulate the country’s recessed economy, adding that they were much easier and much better to access than internal and external borrowings with interests. The transparency agency thus asked the government to set up the right machineries to recover the funds, stating that it was a better option in the mix of options available to reflate the economy. Giving details of the unpaid

revenues which it added were not entirely new, NEITI said its previous audit reports on the operations of the country’s oil industry showed the NNPC and NPDC have yet to pay $21.778 billion and N316.074 billion to the Federation Account. It said these were amounts due from three main sources - federation assets divested to NPDC and NPDC’s legacy liabilities, payments for domestic crude oil allocation to NNPC, as well as dividends from the country’s investment in Nigerian Liquefied Natural Gas (NLNG) paid to it but withheld by NNPC. According to the NEITI, while the NPDC owed the Federation $5.531 billion and N72.435 billion as considerations for divested oil assets and revenues accruing from them, the NLNG paid a total of $15.8 billion dividend to NNPC which NNPC acknowledged receiving but failed to remit to the Federation Account. Additionally, NEITI said the NNPC still owed N243.639 billion to the Federation

Account as unpaid balance from its management of the 445,000 barrels per day (bpd) domestic crude allocation to its refineries in Kaduna, Warri and Port Harcourt the refineries, as well as $424.185 cash call refund from another of its subsidiary – the Nigerian Petroleum Investment Management Services (NAPIMS). “NNPC and NPDC owe the Federation Account more than $20 billion, which could help jumpstart the economy. Beyond the golden opportunity for economic recovery, there is also a compelling case for deepening transparency and accountability in the improving oil sector,” said NEITI in the policy brief. According to it: “Recovery of these funds will significantly enhance government’s fiscal position in the short term. Addressing the underlying causes of withheld revenues will boost government’s collection in the medium to long term, thereby enhancing government’s capacity to implement its infrastructure development programme, to

successfully carry out its social intervention policies, and to put the economy on a sound and sustainable footing.” “It will also expand revenue options for the country at this critical period. In addition, the system and structure that allow funds to be withheld at discretion and with impunity point to an important area of reform in the oil and gas sector,” it added. Indicating the action plans it would expect the government to adopt on this, NEITI said: “The federal government should recover the over $20 billion withheld or owed by NNPC and NPDC and use it to fund economic recovery, OMLs (oil mining licenses) divested to NPDC but not fully paid for should be revalued, retrieved and auctioned for higher value to the country.” It further said on this: “Status and operations of NPDC should be reviewed in line with global best practices to ensure greater efficiency and optimal value to the country, federal government should investigate the status and

use of NLNG dividends from 2000 to 2014 and undertake criminal proceedings against anyone found wanting and FG should fast-track comprehensive reforms of the improving petroleum sector.” Speaking on the import of the policy brief, the Executive Secretary of NEITI, Mr. Waziri Adio, told reporters that such huge revenue could not be withheld by the NNPC and NPDC while the government searches for funds to get the country out of recession. Adio also noted that the agency had briefed the Economic Management Team (EMT) headed by Vice President, Prof. Yemi Osinbajo, and would expect it to act on this. He said: “We want to go beyond yearly reports to now play in the policy space and engage policy makers who have not used our reports. We need the money now and the country should go out to get them. This is nothing new, we are just deepening the issues in terms of where we are now as a country.”

Italian Govt Deports 40 Nigerians About 40 Nigerians were yesterday evening deported from Italy for Immigration and criminal offences. The deportation came barely four days after the United Kingdom government repatriated 23 Nigerians for similar offences. Those who were deported yesterday included males and females who were returned to the country through the Murtala Muhammed International Airport (MMIA), Lagos at around 8:35p.m. An immigration source informed journalists that 39 of the deportees were returned because of immigration offences while one, a male was returned

because of his involvement in drug related matters. The deportees were brought into Nigeria aboard Air Meridiana aircraft with the registration number E1-FNU. According to the Nigeria Immigration Service, the returnee with drug related issues would be handed over to police for further prosecution while 39 others were profiled by the officials of the immigration service attached to the airport. The deportees were shielded from speaking to the media by some security officials at the airport, although most of them were unwilling to talk, as they hid their faces.

Malabu Oil Deal: Imam, Galadanci Fault Court Processes Filed by Abacha on Alleged $180m Payment Ejiofor Alike As the controversy over the alleged diversion of the $1.1 billion paid by Shell Ultra-Deep (SNUD) Limited, Shell Nigeria Exploration and Production Company (SNEPCo) and Nigerian Agip Exploration Limited (NAE) for Oil Prospecting Lease (OPL) 245 rages, Air Vice Marshall Nura Imam (rtd) and Dr. Bashir Galadanci have faulted a THISDAY report that they received $180 million from the deal. Citing court processes, THISDAY had reported that a son of the late Head of State, Gen. Sani Abacha, Mohammed and a known associate of former President Olusegun Obasanjo, Oyewole Fasawe

had alleged that Mega Tech. Engr. Co. Limited owned by Imam, Galadanci and others of 14C Durbin Katsina Road, Kano, got $180 million from the $1.1 billion. But Imam and Galadanci, through their solicitors, Qais Conrad Laureate, have debunked allegation contained in the court papers filed byAbacha and Fasawe, describing it as false and unfounded. They described the report as false and unsubstantiated. According to a statement by the solicitors, the allegation “impugned the good character, social standing and public reputation of each of our clients, individually caused them mental anguish and portrayed each of them as persons unfit to be entrusted with public office or matters of the commonwealth.”

KEEP THE AWARDS COMING

Delta State Governor, Senator Ifeanyi Okowa (left), and AmbassadorJoseph Rankin, during the presentation of the 2016 Prestigious Order of the Pride of Africa and Mandela Medal for a Long Walk to Freedom Awards by the International Human Rights Commission to the governor in Government House in Asaba...yesterday

Naira Gains as CBN Moves to Sell FX to Fuel Importers, Airlines Obinna Chima The naira appreciated to N390 to the dollar on the parallel market yesterday, compared with the N396 to the dollar it closed the previous day as authorised foreign exchange (FX) dealers have fully subscribed to the $150 million offered by the Central Bank of Nigeria (CBN) at its auction on the interbank wholesale window on yesterday. This is just as the bank revealed that it would offer dollar forwards to be delivered

within two months to offset a backlog of matured foreign exchange obligations to manufacturers, airlines, fuel importers and agriculture businesses. Also, CBN yesterday fulfilled its commitment to sell $10,000 to Bureaux de Change (BDCs) in line with its new sale policy. The CBN Acting Director of Corporate Communications, Isaac Okorafor, confirmed these last night. He added that banks had

started submitting requests made by their customers to the CBN. “Authorised dealers’ accounts with the central bank will be debited in full for the naira equivalent of the dollar bid amount on a spot basis. The central bank will settle the bids through forward settlements of two months,” the apex bank explained in a note to banks. The bank had last Monday offered $150 million wholesale forwards to banks and said it also released $90 million

for invisible transactions to ensure liquidity in the forex market. The naira closed at N306.25 to the dollar on the interbank market yesterday compared with the N306.30 to the dollar it was the previous day. The CBN since February 21, 2017, made over 10 offers in the interbank wholesale market ranging from $100 million to $500million per auction. Dealers have fully subscribed to the last three auctions which ranged from $100million to $150 million.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

NEWS

IDP Camps, Prisons Prone to Meningitis Outbreaks, Says Senate FG distributes 500,000 vaccines as death toll rises to 336 Damilola Oyedele in Abuja and Martins Iﬁjeh in Lagos The Senate yesterday identified Internally Displaced Persons (IDPs) camps, prisons and detention centres as locations susceptible to the current outbreak of cerebro-spinal meningitis, due to overcrowding and unhygienic conditions common in such places. It therefore called on the National Emergency Management Agency (NEMA), Nigerian Prison Service, and Nigeria Police to urgently take steps to prevent infections and outbreaks in their premises and camps. This came as the federal government, through its agencies, the Nigerian Centre for Disease Control (NCDC), National Primary Healthcare Development Agency (NPHDA), and partner have distributed a total of 500,000 doses of Meningitis C vaccines to some of the affected states for immediate outbreak response vaccination. The lawmakers also directed the Federal Ministry of Health and its agencies to work closely with the World Health Organisation (WHO) and UNICEF to acquire sufficient vaccines needed to respond to the outbreak which has so far claimed 328 lives with over 2,500 cases. This is in addition to the execution of a massive sensitisation campaign to raise awareness among

the citizenry about the diseases and provide education about its symptoms and actions that can prevent infection. Senator Gbenga Ashafa (Lagos East) who sponsored a motion on the urgent need to stop the spread of the disease, with four other senators, harped on the need for the Federal Ministry of Health and its counterparts at the state level to work together. He recalled that five deaths have been recorded in the Federal Capital Territory (FCT) with higher number of deaths in the most affected states of Zamfara, Sokoto, Kebbi, Katsina and Niger. “Notes that meningitis is a disease mostly associated with overcrowding, lack of ventilation and usually peak during the dry season between November and April.” “Further notes that this recent Meningitis type is a new strand of Meningitis called Stereotype C, unlike the previous kind of Meningitis called Stereotype A, which has disappeared, hence the vaccine that provides protection for this type of meningitis is not commercially viable and needs to be acquired through a special process coordinated by the World Health Organisation (WHO),”Ashafa added. Senator Wakili Ali (Bauchi South) also called on the federal government to explore the possibility of establishing industries that are able

to quickly produce vaccines, to avoid being dependent on foreign agencies to provide such emergency vaccines. “Our prisons and police detention centres are usually overcrowded, therefore we must take proactive measures to prevent outbreaks there, as it would be disastrous,” he said. Senator Sabi Abdullahi (Niger North) lamented that pre-emptive measures were not taken by the relevant agencies to stop the spread, immediately the first few cases were recorded in the second week of December 2016. “Let us remember that those mostly affected are living in overcrowded environments and we should do what we can to ease their conditions,” Abdullahi urged. Meanwhile, the federal government, through its agencies, the Nigerian Centre for Disease Control (NCDC), National Primary Healthcare Development Agency (NPHDA), and partners have distributed a total of 500,000 doses of Meningitis C vaccines to some of the affected States for immediate outbreak response vaccination. In a statement released by the NCDC and signed by its Technical Adviser, Communications, Dr. Lawal Bakare, it said an additional 823,970 doses of Meningitis C vaccines were expected from the United Kingdom to support vaccination activities in other affected states. According to Bakare, the

Emergency Operating Centres (EOC) will support state-wide vaccination campaign which starts in Zamfara State on April 5, 2017. “The team will also deploy and coordinate a robust national communication and social mobilisation campaign, focused on CSM prevention and control in rural and urban areas of affected states. “As at April 3, 2017, a total of 2,997 suspected cases of CSM have been reported in 16 States in Nigeria of which 146 have been laboratoryconfirmed. Unfortunately, 336 deaths have also been recorded. We are confident that we have turned the tide, and with increasing vaccination activities, expect a reduction in number of cases. Importantly, lessons learned from this outbreak will help the country prepare for the future,” Bakare noted. He said the EOC has started managing the ongoing outbreak of meningitis since last Monday, as this brings the national response into an Incidence Management System, which is ensuring all activities across the country were managed using a clear command and control structure led by an Incident Manager who reports through the Chief Executive Officer of the NCDC, to the Minister of Health. “With this new coordinating structure, the country will have a tight, multi-partner team of experts pulled from the most

competent agencies focusing on outbreak control in Nigeria. The Head of Emergency Preparedness and Response at the NCDC, Dr. John Oladejo, will act as Incident Manager of the response, while experts from the FMOH, NCDC, NPHCDA, WHO, UNICEF, Africa CDC, US CDC, Medecins Sans

Frontieres, AFENET, University of Maryland United States and E-Health Africa are taking key roles in different units that focus on five key components of the outbreak response. With the new team structure, all CSM outbreak response activities are now being coordinated in one place,” the statement noted.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

NEWSEXTRA

Buhari Launches Economic Recovery Plan Today FG seals $4.5bn agricultural, rural devt plan with China NGF chair insists Paris-Club refund was not diverted Gowon visits president Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday said he would today launch the Economic Recovery and Growth Plan (ERGP) 2017-2020 in his administration’s pursuit of economic revival, improved security and sustained war against corruption. A statement by the president’s media aide, Mr. Femi Adesina, said the launch would take place in the Council Chambers of the Presidential Villa, Abuja, in conformity with Medium-Term ERGP which he said had earlier been approved by the Federal Executive Council (FEC). The Medium-Term ERGP, the statement added, has among its broad strategic objectives, the restoration of sustainable, accelerated inclusive growth and development; investing in the people and building a globally competitive economy. This came as the federal government also yesterday announced the $4.5 billion credit scheme with China to drive mechanised agriculture and rural development in all the 36 states of the federation and Federal Capital Territory (FCT). The scheme has 20 years of repayment plan at one per cent interest rate. Making this disclosure to journalists after meeting the president in the Villa, the Minister of Agriculture and Rural Development, Chief Audu Ogbeh, and the Chairman of Nigeria Governors’ Forum, Abdulaziz Yari, said the move was the aftermath of the visit to China last year during which the Asian country expressed its willingness to help Nigeria out of its poverty and underdevelopment. They said the scheme is mid-wifed by the Ministry of Agriculture and Rural Development in collaboration with the Ministries of Finance, Budget and Planning, the Central Bank of Nigeria (CBN) and governors. Ogbeh who said they had visited the president to brief him on update on the scheme, added that the president threw his weight behind it and instructed them to resolve any technicalities involved with the Ministries of Finance, Budget and Planning and the CBN. “We came to brief the president on developments following our visit to China in April last year and our negotiations on a number of issues to deal with machineries for agricultural development. We signed an agreement which engages all the states including the FCT and the Federal Ministry of Agriculture and Rural Development for the procurement of strategic machinery for rural development and agriculture, tractors, bulldozers, graders, irrigation pumps and so on from China. “The Chinese were willing to supply us these things on a long term basis - 20 years credit at an interest rate of one per cent per annum. A committee has been working on the matter and we are close to sorting out all the small details and that is why we came to see the president. “The president responded well.

He asked us to get in touch with the Ministry of Budget and Planning, Finance and CBN to sort out all the technical details and move on with it. Of all the partners we have, the Chinese have shown the willingness to see us out of our problems because about 30 years ago, they were in the same crisis. They see us as people in the same circumstances that they were then and they are willing to help us get out of it and we appreciate it. The president does,” Ogbeh stated. Complementing Ogbeh’s

submission, Yari said the Chinese Company Organisation in collaboration with the People’s Bank of China would offer Nigeria $4.5billion credit which he said would cover the cost of equipment to be purchased and infrastructural drive such as rural earth dams, irrigation with 20 years’ repayment term and five years moratorium. He also said the move was in fulfillment of federal government’s decision to diversify the economy to agriculture.

“Initially, we started negotiations to drop a counterpart funding of 25 per cent but understanding the economy of Nigeria, we negotiated to give a counterpart funding of 10 per cent which we believe Nigeria can do and we are targeting the natural resources fund from the counterpart funding. We are now speaking with the Chinese group and the Nigerian governors and the technical committee that was set up by the the Ministry of Agriculture and Rural Development,” he said. Yari also denied the diversion of

the first tranche of London-Paris Club money by the NGF, saying the controversy over the fund arose from consultancy fee which was lodged in NGF account. He said the matter had now become subjudice and hence, he would be unable to elaborately comment on it until it is fully resolved. “There is no issue with the refund. The issue is with consultancy fee which I think the Minister of Finance made clear that we decided to domicile it in

the NGF account for us to work together on who to be paid or who not to be paid. Some wrote petitions that they have not been paid and mind you, we have not even started paying fully because we have to ascertain who worked for who. “As I am talking to you, we have a lot of litigations. So, someone says he worked for so and so years for this state and that state. We are taking a decision that I will not make any comment on it yet. Let me tell you the truth.”

T H I S D AY WEDNESDAY APRIL 5, 2017

T H I S D AY TUESDAY APRIL 5, 2017

COMMENT

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

SEXUALISATION OF SCHOOL CHILDREN Sonnie Ekwowusi argues that children should not be exposed to prurient books

ave you bothered for once to peruse through your children’s school textbooks? I know you are a very busy parent working round the clock to put food on the table for your children. I equally know that you have employed some housekeepers to look after your children on your behalf. But I strongly suggest that you should make out a little time this week, even if it is only for 10 minutes, to go through the pages of the textbooks used by your children in their respective schools. If you do so, you will likely be scandalised by what you would find inside the textbooks. When you were in secondary school English literature books such as Macbeth, Julius Caesar, Weep Not Child, Things Fall Apart, Zambia Shall be Free, The Man Died, African Child, Akin the Drummer Boy, Mine Boy, The gods are not to blame, Gulliver’s Travels, Around the World in Eighty Days, Allan Quatermain, King Solomon’s Mine, Eze Goes to School, and others were probably the recommended English literature books. But let me tell you something that you may find interesting. The world has changed. We now live in a perverse world that lays claim to the soul of your children. Almost all the aforesaid English literature books that were read in your school days have been removed from the curricula and replaced with sex-related textbooks and English literature books. These textbooks and English literature books containing lewd subject-matters have been introduced into the curricula to give the unsuspecting young school pupils the wrong impression that self-control is unnecessary, repressive and an impossibility; that casual sex makes them feel good; that they should engage in casual sex before marriage; that ‘safe sex’ is what to aim for in life provided that they don’t get pregnant. And if they do get pregnant they should procure abortion as soon as possible. One of the speakers at the Regional World Congress of Families held at the Nigerian Institute of International Affairs, Victoria Island, Lagos, March 27- 29, 2017 was Ahmed Akanbi. Ahmed is a parent and a Lagos-based legal practitioner. Midway in his presentation, Ahmed did something which shocked most of the conference participants. He carefully dipped his hands into his handbag and brought out two English literature books containing some lewd subject-matter and showed them to the participants. He told the participants that the two books were recommended books for primary six pupils in the primary school attended by his daughter. The title of the first book authored by Oyekunle Oyedeji is: “Tears of a bride,” while the second book written by Queen O. Okweshine bears the title: “Precious Child.” According to Ahmed, his nine-year old daughter in Primary six came back home from school one day and engaged him in a conversation that bothered on some sex experiences. At first, Ahmed was utterly stunned. But after he had regained his composure he asked his daughter where she learned about those sex experiences. It was then that his daughter narrated to him how their school teacher has been using the aforesaid two books to teach them how to practice “safe sex” and how to gain sexual pleasure. Ahmed read to the hearing of the participants some sexy portions of the two books. The participants rose to their feet in utter shock.

PARENTS ARE THE PRIMARY EDUCATORS OF THEIR CHILDREN. THEY ARE ALSO THE GUARDIANS OF THE MORALS OF THEIR CHILDREN

I have told Ahmed that beyond lamentation a law suit should be brought against the Federal Ministry of Education and others. The rot in Nigerian primary and secondary schools cries to high heavens for cleansing. The Federal Ministry of Education and other education regulatory and supervisory bodies in Nigeria are irresponsible. When Obigaeli Ezekwesili was the Education Minister she attempted to cleanse the rot. With the exception of Ezekwesili, no other Education Minister in recent times has done anything to resuscitate our comatose public schools. That explains why the primary and secondary school curricula in Nigeria have consistently been corrupted to include textbooks that contain lewd matters and other matters that appeal to the prurient interest in sex. For example, about 15 years ago, some concerned Lagos parents brought a law suit against the Lagos State Ministry of Education and others at the Federal High Court over the corruption of Integrated Science to include lewd matters such as masturbation, wearing of condoms, teen contraceptives and others. Three years ago, a Lagos-based NGO sued the Federal Ministry of Education and others because the New School Chemistry for Senior Secondary Schools By Osei Yaw Ababio; Revised by: L. E.S Akpanisi Herbert Igwe ; Modern Biology for Senior Secondary School By: Sarojini T. Ramalingam, revised by Lucy I Akunwa and J.BC Obidiwe and the New School Physics for Senior Secondary By: M. W Anyakoha PhD used in many secondary schools in Nigeria were smeared with the following watermark inscriptions: “I know that My Mother is a harlot and that my Father is a Kidnapper”;“I am a son/daughter of a Harlot and kidnapper”; “I confess that my Family is bad, Evil, and a Disgrace to the Nation”; “My Parents Taught me how to love and smoke Indian Hemp, to kill and practice illegal things”. There is also another book titled: Zumji and Uchenna allegedly used in Lagos schools which contained lurid sex stories and pictures aimed at making secondary school pupils sexually active. Even Mathematics and Social Science textbooks used in many Nigerian secondary schools have been corrupted to include lewd matters in order to sexualise the young students. The rain that is beating us in Nigeria seems unstoppable simply because we don’t even know where the rain started beating us. We may be searching for a scapegoat at the National Assembly or in government circles forgetting that the most insidious damage is done in the life of our children who are supposed to be leaders of tomorrow. Yesterday the ample evidence of sexualisation included the TV, music videos, movies, mobile phones and the Internet. Today it is the school and the school teacher. Even some parents regretfully contribute to the sexualisation of their children in a number of ways. For example, some parents may convey the message that maintaining an attractive physical appearance is the most important goal for their daughters. But the most tragic is the introduction of sex-related textbooks or the so-called comprehensive sexuality education or adolescent sexual reproductive right or family life education or teen-sex education in schools without the consent of parents. Parents are the primary educators of their children.

THE POLICE AND THE PEACE CORPS

The police feud with the corps is unnecessary, contends Rogers Edor Oche “The devil is the father of lies. But members of the present generation have made tremendous improvements on it so much that even the devil is green with envy’’ -Jonathan Swift

n their cruel determination to drive Peace Corps of Nigeria (PCN) out of existence, there is no lie considered too ‘sacrilegious’ to be told about it. The situation has got so bad that even the truth that is so glaring is being turned upside down. This explains why supposedly law-enforcement institutions have long kissed truth goodbye and embraced lies as an instrument of their operation. In a nutshell, they have elevated falsehood into an art.

Ever since they rudely invaded the new corporate headquarters of the PCN, arrested and detained the National Commandant, Dr. Dickson Akoh and 49 other officers, these implacable enemies of the corps have been rather shifty in the way and manner they bandy one lie after another. They have perfected the art of lying to the extent that they keep manufacturing them with the passage of each day. This pathetic lie of the police came to a heady climax with the recent affidavit disposed to by one Sgt. Philip Tumba of the Criminal Intelligence and Investigation Department, Legal Department of the FCT Police Command, which was sworn to at the Registry of Federal High Court, Abuja on Tuesday, March 21, 2017. In the aforementioned affidavit which contained tissue of` lies, the police denied

what is already well known in the public domain. Apparently aware of the water-tight case of the PCN against it and the impending embarrassing defeat staring it in the face, the police resorted to what it knows how to do best—lying, even on oath, which is a serious criminal offence punishable under the laws of the land. Sgt. Tumba, through that affidavit was either being economical with the truth or merely elected to stand honesty on its head when he denied that the act of rascality perpetrated by security operatives on the premises of the corps on Tuesday, February 28, 2017 was not an invasion, but a lawful execution of its duty. He also lied when he said that no officer of the Peace Corps was brutalised or injured. He even chose to fault the PCN’s position that some of its officers were brutalised and admitted at National Hospital, Abuja, a position that has already been confirmed by several media reports supported with pictures of the victims. To further buttress the position of the PCN on the issue, journalists from Channels, NTA and AIT, including Radio Nigeria and other radio stations actually interviewed the victims at the hospital and even captured their pictures. If the police claimed that it did not arrest any Peace Corps officer, does it mean that Akoh and the 49 others that were paraded on March 1, 2017 flew to Force Headquarters to be paraded as such? How did the police get the official uniform and portrait of the national commandant that it gleefully displayed to the world as exhibits? In that same aforementioned affidavit, which

is riddled with lies, the police went on to further lower its esteem in the eyes of the world when it described its closure of the Peace Corps offices nationwide, especially the National Headquarters, Abuja, where the police had condoned off with Armoured Personnel Carrier and a pick-up van as a mere cordoning off of a ‘’scene of crime to secure it for further and detail investigation.’’ The question to ask is: why didn’t the police conclude investigation before rushing into this premeditated action of beating, arresting and detaining innocent Nigerians? Why the indecent haste in closing a legal organisation that is duly registered by the Corporate Affairs Commission (CAC)? In No 11 of the affidavit, the police gave itself kudos for doing what it said was for ‘’public good and interest in order to prevent further illegal extortion of money from the unsuspecting members of the public’’. Nothing can be further from the truth! This case of extortion that the police keep recycling about the corps has been over-flogged. This is the same allegation, which the police and the ICPC investigated and gave the corps a clean bill of health in the past. The allegation of the corps creating camps in different parts of the country and organising military-like training is neither here nor there. I wish to restate for the umpteenth time that the corps had never claimed to be or acted like a paramilitary organisation as it does not have the power to arrest, detain or prosecute. Over the years, the training of its recruits has always been observed by both the police, DSS, officials of Federal Ministry of Youths

and Sports, including traditional rulers of the local government areas where the training camps is situated. On the issue of the corps providing uniforms and badges of ranks for its recruits, it is necessary to state here that in Nigeria today, there are about 47 youth organisations that wear uniforms with badges of ranks, including Boys Scouts, Boys Brigade, Girls Guide and even the ubiquitous officials of National Union of Road Transport Workers (NURTW) popularly called ‘Agberos’. How many have the police raided or closed? If the PCN is as notorious as the police would want Nigerians to believe, how come the respected umbrella body of the whole world cum Africa, the United Nations and African Union respectively gave it a special consultative status under their Economic and Social Councils (ECOSOC)? How come millions of Nigerians are not on the same page with the police in its malicious claims on the corps? The truth about this matter is that the police have shot itself on the foot and is trying to find a convenient way out of its self-imposed logjam. This tango between the police and the PCN has exposed the hypocrisy of the police and its wanton ways of parading alleged criminals even before investigation is concluded. Its actions against the corps are a clear case of vendetta. So no amount of side-tracking the truth will save the police from the sword of Damocles that is hanging ominously on its head. History, like the late Nnamdi Azikiwe once said, will vindicate the just. Ochela wrote from Abuja

T H I S D AY Ëž ÍłËœ 2017

EDITORIAL THE ILE-IFE VIOLENCE CONUNDRUM Law enforcement agencies must be impartial in the discharge of their duties

he mixed and somewhat ethnic reactions to the recent violent clash between the Yoruba and Hausa in Ile-Ife, Osun State were another manifestation of how sharply divided Nigeria has become, particularly since President Muhammadu Buhari assumed ofďŹ ce on May 29, 2015. What began, according to media reports, as a mere disagreement between two people, a Yoruba woman and an Hausa man, soon degenerated into a violent conďŹ‚ict that consumed no fewer than 46 lives and property worth millions of naira. Yet this was a community in which both ethnic groups and others have lived together in peace for decades. In a rare display of rapid response, the police quickly doused the violence, made several arrests and transported the suspects to the Force Headquarters in Abuja, where 20 of them, including a traditional ruler, were paraded before the media. Ironically, the swift response of the police in dousing the violence and making arrests as well as the visit by the Minister of Interior, have drawn sharp criticisms from the populace, particularly among members of the Yoruba political elite THE FEDERAL who have accused the GOVERNMENT NEEDS federal government of TO EXAMINE THE double standards. WIDESPREAD COMPLAINT The Afenifere, OF LOPSIDEDNESS IN THE a frontline Yoruba ARREST OF SUSPECTS socio-cultural group, AND TREATMENT OF THEIR complained that in a widespread violence VICTIMS, AND ADDRESS between two ethnic THEM groups in which several lives were lost on both sides, all the persons arrested were from one of the disputant groups, the Yoruba. It also queried the visit of the Minister of Interior, Lt. General Abdulrahman Dambazau to the Hausa victims of the violence, saying it was strange given the fact that in spite of the widespread killings of innocent Nigerians by Fulani Herdsmen in several parts of the country, particularly in Benue State, no such visit has ever been made to the

Letters to the Editor

victims by any ofďŹ cial of the federal government. While we commiserate with the families of the deceased and commend the handling of the crisis both by the Ooni of Ife and the Governor of Osun State, Mr Rauf Aregbesola, we restate the opposition of this newspaper to the use of violence as a means to settle conďŹ‚ict. Nigeria is a civil and democratic society that has a body of laws and institutions of state saddled with the responsibility of maintaining law and order. Consequently, anyone who is aggrieved must avail themselves of the use of those legitimate institutions to ventilate their grievances. We, therefore, condemn the recent violence in Ile-Ife and all others that continue to occur. And we support all efforts of the law enforcement agencies to bring the perpetrators of the violence to book.

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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.

THE MARGINALISATION OF OKUN PEOPLE

hat the word â€œmarginalisationâ€? has continued to be prominent in the political lexicon of Kogi State before the 2015 general elections remains an incontrovertible statement of the fact. To also say that the impact of the menace has continued to be felt mostly by the Okun people despite the claim of a new direction in state governance by the present Bello-led administration where there has been absence of equitable distribution of political appointments so far rolled out by his government is also obvious. A close scrutiny of the political appointments so far made at Kogi State level and at the federal level under the present political dispensation will make political pundits to wonder if Okun people are part of the state and Nigeria, going by the glaring lopsided appointments skewed to shut them out of relevance in the scheme of things at the two levels of governance. Under the change mantra and the existence of the Federal Character Commission it is expected that the marginalisation of Okun people at the federal level should have become a thing of the past but this is not to be. Rather, the marginalisation has continued to be tightened around the neck of the people in the Kogi West Senatorial District. Going down memory lane, it remains glaring that all political appointments so far made by the federal government as far as Kogi State is concerned, came from two out of three

owever, we must caution the federal government and the law enforcement agencies to avoid conducts that could suggest likelihood of bias in the discharge of their responsibilities. It is important that in a multi-ethnic state like Nigeria, public conďŹ dence in the impartiality of state institutions is not undermined. To do that is to create the social conditions for strife and the concomitant inclination towards self-help. This deďŹ nitely will not augur well for the country. The federal government, therefore, needs to examine this widespread complaint of lopsidedness in the arrest of suspects of violence and treatment of their victims, and address them. More importantly, the federal government needs to be more decisive about the increasing spate of ethnic strife and communal clashes in the country. We certainly cannot continue with the bloodletting across the land. While we agree with Governor Aregbesola that the crisis at Ife was purely a law and order issue, we are also mindful of the current problem created by the manner in which the police handled the aftermath of the crisis. That was why the intervention by the Ooni of Ife who has been calling on Yoruba leaders not to politicise the crisis is very helpful. But that will also necessitate that the police be more professional on the case, going forward.

senatorial states in Kogi State namely, Kogi Central and Kogi East, leaving out West Senatorial District, where the Okun people with five out of the seven local government areas reside. Such appointments include both career and non-career ambassadors, chairmen of boards of federal government parastatals, ministerial, just to mention a few. The recently announced appointments of executives of some government agencies and parastatals by the Special Adviser to the President (Media and Publicity), Mr. Femi Adeshina and published in almost all the dailies on Saturday, April 1, 2017 has no doubt led credence to the cry of marginalisation of the Okun people at the federal level. It is hoped that the Kogi State governor and our God-fearing President Muhammadu Buhari will, in the spirit of equity and justice under the change mantra and federal character, consider Okun people for political appointments both at state and at the federal levels as is presently being done for the other two main ethnic groups in the state â€“ Ebiras and Igallas. It is no gainsaying the fact that Okun people who once stood out as the engine room of the defunct Northern region under the regional system of government in Nigeria are now being sidelined in spite of the their past contributions to the development of the defunct Northern region and the country as a whole in various fields of human endeavours. Odunayo Joseph, Mopa, Kogi State

RAPE: NEED FOR A STIFFER PENALTY

ecently, women across the world celebrated International Womenâ€™s Day. Part of the agenda for the celebration includes older women setting priority for the younger generations; the review of challenges facing women and charting a way forward. Women were encouraged to be involved in governance, fight for fairness, equality and full protection for women and the girl child. However, the main issue discussed at the celebration was child rape which is one of the most traumatising forms of violence against children. Rape is sexual assault involving sexual intercourse or other forms of sexual penetration perpetrated against a person without their consent. The act may be carried out through physical force, coercion, abuse of authority or against a person who is incapable of valid consent, such as one who is unconscious, incapacitated, or below the legal age of consent. Though, there are different types, drug-facilitated sexual assault (DFSA), forcible and statutory rapes are the most common in Nigeria. DFSA is a sexual assault carried out after the victim has become incapacitated due to having consumed alcoholic beverages or other drugs. Statutory rape is an intercourse between an adult and a minor; an adult can be found guilty of statutory rape even if

the minor was willing partner. The age of consent for sexual intercourse varies depending on state law but is not higher than 18 years in any state. Perpetrators of rape show signs of dominance, power and hatred to humiliate victims. They get their own pleasure through rape since it is insecure to approach women openly so they force them. This brings psychological effects for life on the victims because it is horrible and pervasive to defile a woman forcefully. In some cases, drugs and alcohol are used to minimise the resistance and memory of the victims of sexual assault. Over the years, there has been high record of suicide cases which can be traced to long- term health impact and trauma from sexual abuse, resulting to depression, mental health problems, stress and sleeping disorders. The victims of rape go through psychological trauma, if not controlled they become threat to the society by committing crimes. These victims lose self esteem and find it difficult to concentrate on their education. They get involved in prostitution, drug abuse, violence and other crimes especially kidnapping. While some are still suffering from the trauma of rape as a minor, teenager or adult but unfortunately our society seems to be passive in taking proper measures for rehabilitation of victims. Adeyinka Oguntade, Ministry of Information and Strategy, Alausa, Lagos

T H I S D AY WEDNESDAY APRIL 5, 2017

T H I S D AY • WEDNESDAY, APRIL 5, 2017

MIDWEEKPOLITICS

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

THE NEWSMAKER

Dickson’s Rising Profile

The seemingly intractable crisis rocking the Peoples Democratic Party provides a perfect opportunity for the Bayelsa State governor to demonstrate rare leadership which even his close associates did not know he possessed, reports Segun James

ayelsa state governor, Mr. Seriake Dickson has not only assumed the position of a leader in the fractured Peoples Democratic Party, but his rising leadership abilities has put him on a pedestal for higher position: thanks for the maturity with which he handled the delicate job of being the chairman of the party’s reconciliation committee. One of the controversial recommendations of the committee was the recognition given to Senator Ali Modu Sharrif as the authentic national chairman of the party. Dickson surely knew the implication of that decision. Courageously, and seeking the best for his party, he stood by it. However, not many were surprised that Sherrif accepted the other recommendation of the committee: that he should not contest in the convention coming up in June. Given the wide support the Ahmed Makarfi-led Caretaker Committee enjoyed among party loyalists, Sharrif would not stand a chance. Nevertheless, that he accepted that recommendation was a show of true sportsmanship and deserved to be commended. Perhaps, Dickson would be surprised that Sherrif accepted that recommendations. Going by the above two recommendations with each going against the contending parties, Dickson knew he had produced a report that risked being rejected by the parties. The relationship between Makarfi and Dickson, until recently had been most cordial and brotherly. The two belonged to the same caucus within the party, hence the bitterness and disappointment by Makarfi that he has been asked to move aside for his rival by his own man! When he was first appointed as the chairman of the party’s reconciliation committee by the then national chairman, Alhaji Bamanga Tukur under the presidency of Dr. Goodluck Jonathan, his committee was scoffed at as dead on arrival. This was because he was not only Jonathan’s kinsman, but his brother from the same Ijaw extraction! The impression then was that, what reconciliation was expected of him in the circumstance? It was like appointing your wife to be an arbiter in a quarrel between you and your neighbour. But Dickson is a dogged fighter who took the job anyway and went about trying to mend fences in the then ruling party. It is to his credit that he was never at anytime accused of partisanship or taking sides with anyone in the crisis. It was based on this that he was again appointed to head the committee when the party was once again descended into another crisis, this time, one that threatens to consume the party. People believed that he would fail because he had little to bring to the table except his credibility as an unbiased arbiter; and that is what he worked with. Now it has paved the way for the peace that is now pervading the party today. What Dickson has achieved is a classical experimentation in political engineering when he deliberately handed over victory to the enemy in order for peace to return to the party. To a watcher of political trend in the country, Alhaji Kunle Akangbe, Dickson’s deft move is like the classical case of “Dinner with the Devil.” The idea, not surprisingly, has been bought and accepted by the party’s leadership. This unconventional way of bringing about peace has now endeared him to a lot of people. There is an adage in politics that: “it’s better to be lucky than good.” And if ever there was a politician with luck on his side, it is Henry Seriake Dickson, who as the chairman of the reconciliation committee of the PDP has metamorphosed from a governor of the nation’s smallest state to a national hero. Dickson was born on the 28th of January 1966 in Toru-Orua Town of Sagbama Local

Dickson.......working hard to unite his party

Government Area of Bayelsa State, Nigeria. He enrolled in the Rivers State University of Science and Technology, Port Harcourt, to study Law in 1988; he earned his LL.B in 1992. In 1993, he proceeded to the Nigerian Law School and was called to the Nigerian Bar shortly thereafter. He was elected to the National Assembly’s House of Representatives in 2007. In April 2011, he was elected for a second term; this election was the first time that someone in his constituency had done this. Dickson assumed his role as Governor of Bayelsa State on 14 February 2012. The Independent National Electoral Commission reported that Dickson won over 90 per cent of the votes. This helped to consolidate his party’s position in the state. With Jonathan in power, no one was surprised by the results of the governorship election in the state. Shortly after taking over gubernatorial duties, Dickson said that he was “painfully transiting to the executive arm of government.” He went on to say that he might, in fact, return to the National Assembly someday. Since the submission of his committee’s landmark

Since the submission of his committee’s landmark report, Dickson has not only assumed the position of a national leader in the fractured party, but may also end up becoming one of those that will determine the future of the party in the nation’s polity

report, Dickson has not only assumed the position of a national leader in the fractured party, but may also end up becoming one of those that will determine the future of the party in the nation’s polity. Following the resolved of the party’s leadership to reconcile, the PDP is now looking on the brighter side. There is a growing optimism that the party may well survive to contest the next general elections. Even the contenders for the party’s leadership at the botched convention last year are already raving up their political machine with one ready to ‘make the PDP great again’. However, despite the accolades that have been showered on him, Dickson has been unrelenting in selling the essence of the recommendations of his committee to notable party leaders. Already, former President Goodluck Jonathan, had expressed support for the Dickson-led Peace and Reconciliation Committee, insisting that political solution remained the best option to tackle the crisis. The ex-Nigerian leader who received the governor and members of his committee in his country home at Otuoke, urged the contending parties to embrace compromise and negotiations as a way out of the current challenge. He specially commended the governor for going round the country to meet with key stakeholders and leaders of the party in order to return peace to the PDP. Jonathan expressed reservation over the use of courts to settle purely political matters, stressing that a political solution would ensure a win-win outcome for the warring groups within the party. Dickson also held high level discussions with one of the founding fathers of the party, Mallam Adamu Ciroma. During the meeting, he told the elder statesman that the visit was to intimate him on the efforts of the committee to ensure a peaceful resolution of the ongoing crisis in

the party. The governor also thanked the elder statesman for his sacrifice and service to the fatherland and to the party all through the years. In his response, Ciroma thanked the governor for the efforts and sacrifices he had made to ensure that peace returns to the party. He noted that discord and disagreements were normal occurrences in political parties worldwide, adding that the resolution of the issues should matter to the party for now. Following the shuttling, Dickson eventually brought the major contending groups in the party together. They agreed to sheathe their swords in the interest of peace in the PDP, he told them that it was time to put their differences aside and work to take back power from the ruling All Progressives Congress (APC) In a communiqué signed by both the Senator Modu Sheriff faction and the Ahmed Makarfi Caretaker Committee, both groups agreed to halt the current practice of making public statements capable of further inflaming the crisis. The release was jointly signed Mr. Bernard Mikko, the factional PDP Acting National Publicity Secretary for Sheriff’s group, his counterpart in the Makarfi faction, Prince Dayo Adeyeye, factional acting national legal adviser of the PDP, Mr. Dave Iorhemba and Mr. Ahmed Gulak, former political adviser to ex-President Goodluck Jonathan. During the event which was witnessed by Dickson and former Deputy Senate President, Ibrahim Mantu, the groups also resolved to work with the National Reconciliation Committee to put an end to the prolonged crisis. As the PDP moves into a new phase in its political history, all eyes are on the next convention schedule for June 30th, 2017. It is at this event that the fate of the party will be sealed and the rising profile of Henry Seriake Dickson will be determined.

T H I S D AY • WEDNESDAY, APRIL 5, 2017

THE NEWSMAKER

MIDWEEKPOLITICS

Nwodo’s Unenviable Assignment As President-General of the Ohaneze Ndigbo, leading this foremost socio-cultural and political organisation in Igboland at such a critical time in the history of the nation means that John Nnia Nwodo has his job cut out for him, writes Segun James

eading Ohanaeze Ndigbo at a time when youth from the south east are venting their anger and dissatisfaction with the political arrangement called Nigeria must be one of the most challenging tasks John Nwodo had been saddled with. His election as president-general came at a time that the people are agitated and the youth have become restless. The people, especially the youth are so annoyed that they are venting their frustration on the Nigeria nation which they believe has never been fair to them as a people and to their cause. They are now calling for a new republic of Biafra, a land of the rising sun out of the carcass of Nigeria. It was in the midst of these restlessness and sometimes justifiable anger that Nwodo was elected the leader of the people. Nwodo, according to his own words, certainly does not share in the youth’s Biafra dream, but he surely does share their sentiment, fears and anger that the Igbo man has held the short end of the stick in the affairs of the nation despite being the economic power house and the most educated ethnic nationality in the national equation. Worse still, his problems have not been assuaged by the federal government either. Most prominent is the continued incarceration of the leader of the Independent People of Biafra (IPOD), Nnamdi Kanu who has been in prison custody for almost two years. This incarceration has lifted the young man into almost a cult figure. To the people, Kanu has done nothing wrong; and his continued incarceration is unjust and an abuse of office on the part of the federal government, most especially as a court had said that his continued incarceration is unjustified and had ordered his release before government filed fresh charges against him. He was of the view that Kanu had done nothing wrong and did not deserve to be on trial. According to him, Kanu has never carried a gun, maimed or killed anybody, let alone engaged the federal government or the armed forces in any battle or skirmishes. “So, why detain him for so long? And what is his offence anyway?” He queried. Nwodo wondered why a call for a republic of Biafra should attract such punishment when so many others both in the north, southwest and the Niger Delta make similar calls for their regions almost on daily basis. He stressed that the double standard employed by the federal government was annoying when other people had taken their demand into physical confrontation and military engagement. “What about those who have actually put their threat against the nation into test; like the Boko Haram and Niger Delta Avengers? What has happened to the Boko Haram men that were arrested? In fact they have all been released to go back into the forest and fight the nation. Worse still, the federal government has been engaging those people in negotiation. What has Kanu done? Why has the federal government not engaged him in dialogue in order to understand what is agitating the Igbo youth? Why is the federal government not engaging him in talks instead of jailing him?” Nwodo admitted that the issue of Kanu and IPOB had made his job as leader of the Igbo nation a very daunting task. “How do you reason with the angry youth when the government has failed to see reason with you?” He queried. According to him, the struggle for the restructuring of Nigeria is more important than the agitation for Igbo presidency in 2019. “The agitation for Igbo presidency in 2019 is a non issue as far as I am concerned. As the president of Ohanaeze Ndigbo, I am apolitical; I am not a member of any political party. This is an issue for political parties; it has nothing to do with me. The issue of power rotation among regions is not new; it is somehow aligned with the doctrine of federal character which

Nwodo.....has his job cut out for him

is in our constitution. “No party has called for nomination. I don’t think agitation for Igbo presidency is important now; what Nigerians are asking for is restructuring of the country to be a true federation. It cannot continue to be a federation in name,

It was in the midst of these restlessness and sometimes justiﬁable anger that Nwodo was elected the leader of the people. Nwodo, according to his own words, certainly does not share in the youth’s Biafra dream, but he surely does share their sentiment, fears and anger that the Igbo man has held the short end of the stick in the affairs of the nation despite being the economic power house and the most educated ethnic nationality in the national equation

the political lexicography for federation is an independent federating unit. “The moment you have independent federating unit, being state or region and they have control over the resources they produce and they contribute on agreed proportion to the federation, it is ok. The question of who is president and where he comes from will die down. It is going to be a matter of who is competent.” Leading a very fiercely republican people and nation like the Igbo is no easy task. One needs the energy of the youth and the wisdom of the elders. And if there is one person that is eminently prepared for the task it is Nwodo. This, Chief Emeka Anyaoku, the former Secretary General of the Commonwealth of Nations, admitted at a reception held for him by the Old Sigmites a group of former members of the Sigma Club of the University of Ibadan of which Nwodo was a “chief scribe” at the Metropolitan Club, Victoria Island recently. No doubt, John Nnia Nwodo is not new to challenges and has certainly broken a lot of records and barriers in his almost 65 years on earth. Born on December 11, 1952, the third son in the respected family of Nwodo in Ukehe, Igbo Etiti Local Government Area of Enugu State. John had his primary education at St. Patrick’s School, Iva Valley, Enugu - 1957-1960; Holy Ghost Primary School, Enugu from 1961-1962 and St. Mary’s School, Uwani, Enugu in 1963. For his secondary education, he attended the prestigious College of Immaculate Conception, Enugu from 1964 to 1970. Thereafter, he gained admission into the University of Ibadan graduating with a degree in

Economics in 1976 and later the London School of Economic where he graduated as a lawyer. He was a Research Assistant, Federal Cabinet Office Lagos -1975; General Manager, Chief J.U. Nwodo & Sons Ltd 1978; State Secretary, National Party of Nigeria, Anambra State Branch from 1978-1980. He was Special Assistant to the President of Nigeria on Information - 1980-1981; Special Assistant to the President of Nigeria on Special Duties- 1981-1983; Minister for Civil Aviation, 1983; Partner, Dr. J.N. Nwodo & Co. 1989-1992; Chairman, Urban Development Bank of Nigeria Plc. - 1993; Principal Partner, Nnia Nwodo & Co. 1993 till date. He was also a part time Lecturer in Constitutional Law- Enugu State University of Science and Technology (ESUT) 1996-1999 and Minister for Information and Culture - 1998-1999. He is married to his Lordship Hon. Justice R.O. Nwodo of the Court of Appeal, Lagos, a union blessed with five children. At the University of Ibadan, he was the first president of the Students’ Union government of Igbo origin when against all odds, he emerged as president. That was when politics even at the students’ union level was ethnic in colouration. Although John Nwodo is the President-General of the Ohanaeze Ndigbo, in the words of Dr. Faye Iketubisin, Nwodo as an old sigmite “believes in creating an oasis of sanity in the desert of insanity,” hence his emergence as the head of the socio-political organization at this critical period in our national polity. The challenge of leading Ohaneze Ndigbo will be tough many agreed, but they are confident, Nwodo has all it takes to succeed in his new unenviable assignment.

WEDNESDAY, APRIL 5, 2017, • T H I S D AY

FEATURES

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

Preparing for the Future Solomon Elusoji writes about how a university uses career fairs to give its students the edge

n a clear, windy day in March, Oluwafunmi Oluwadare, a final year student of Communication and Multimedia Design (CMD) at the American University of Nigeria (AUN), was at the Civic Centre, Lagos. She had come for the university’s annual career fair. At the fair, she met with a plethora of representatives from top companies in Nigeria, from KPMG to Shell Petroleum to Guaranty Trust Bank. “You get so much opportunities talking to these companies,” she said, later, in an interview with THISDAY, “and it’s really given me lots of real-life experiences on what it takes to be job-ready when I graduate.” Every year, AUN organises career fairs for its students and alumni, to connect them with potential employers; while graduating seniors explore career opportunities, current students seek internship openings to gain hands-on knowledge and industrial experience required for future jobs. “Over 60 per cent of the graduating class get jobs from the fair,” the university’s Director of Career Services, Grace Nwokoma, says. But, apart from getting jobs, Nwokoma notes, the fair also provides exposure for the students. “Some of them are actually still in school, and they are here to seek for internships – they want to work during summer, and that helps them to make a smoother transition from schooling to the workplace,” she says. “Even on campus, we ensure that our students work. And that’s because we are trying to prepare them for the labour market. We also collaborate with some of the companies, to know what they want, to enable us know what to produce.” Before every fair, the university’s Career Services Office, organises series of preparatory activities, including resume writing, interview tips, and mock interview sessions. These provide each prospective candidate with a simulated experience typical of a job interview. This year’s fair, which was the tenth edition, was held between March 23 and 24. It had in attendance 23 companies and 20 Graduate Schools, both home and abroad. “There were a lot of companies that have never been to the fair before,” Nwokoma says. Some of the corporate participants in the fair were: GT Bank, McKinsey, KPMG, Shell Petroleum, PwC, US Embassy, Honeywell, Deloitte, and Nadabo Energy, Phillips Consulting, Nestle Plc, Ikeja Electricity Distribution Company, AUN HR, Afrinvest, Stanbic IBTC, Diamond Bank, Ghoozterity Solution, MCEE, Sigma Pensions, Voice of Nigeria, Red Star

Every year, AUN organises career fairs for its students and alumni, to connect them with potential employers; while graduating seniors explore career opportunities, current students seek internship openings to gain hands-on knowledge and industrial experience required for future job

Express, and Africa Courier Express. There was also a strong presence from prestigious graduate schools, including the AUN School of Graduate Studies and the universities of Sussex, Leeds, and Northampton. High praise Tagged ‘We are Shutting Down Lagos’, the 2017 fair was a festival of networking for those who attended. Interestingly, the representatives of the companies in attendance were full of praise for the potential of the candidates they had to talk to. Eromosele Aziba, an Investment Analyst at Afrinvest, a leading independent investment banking firm, said he was overwhelmed with the quality of the students he interviewed. “The students I met with were quite good,” he said. “They have a certain sort of exposure, based on their environment and I think it’s a thumbs up to the school. There is also this entrepreneurial drive in them to develop things for themselves. While they want to have some experience in the work place, most of them are thinking of how to be business owners.” Adewunmi Alawode, a University of Warwick representative, was ecstatic at the idea of recruiting AUN students. “We’ve met with quality students who have the requisite credentials to attend our Graduate Programmes, which is one of the best in the UK; and we are really excited about this,” she said. Joke Jegede, a Human Resource Business Partner at KPMG, who has been a constant fixture at the fair for years, said the company keeps coming back because AUN students have the right kind of quality. “It’s been a wonderful experience here at the AUN Career Fair,” she said. “It’s clear that the kind of candidates we are looking for are their students; they are the KPMG people we want. We have staffs that are graduates of AUN, and they are doing very well, hence the reason why we keep coming here annually to be part of the Career Fair.” Some success stories In 2010, Adonye Adafe-Jaja, then an Information Systems junior at AUN, attended the university’s career fair. He was not looking for a job, but the experience was a defining moment for him. “I got in contact with lots of companies,” he said, “and when I left the fair, I kept researching on them.” So, by the time Adonye was attending the 2012 career fair edition, now in his final year at the university, he was already familiar with the recruitment processes of top companies in Nigeria. He soon landed a job at PwC, one of the largest professional services firms in the world. “A lot of people go to school but they are not taught how to apply what they’ve learnt to the work environment,” Adonye said, “but this fair helped many of us bridge that gap.” Lewis Okugini, a Computer Science graduate of AUN, has a similar story. At the 2012 fair, he had an interesting conversation with the Director of Human Capital Management and Project Support for the Dangote Group, Mr. Mohan Kumar. “He was a very nice guy,” Okugini recalled. After the conversation, Okugini was told he would be hearing from them and, true to their word, they contacted him three months later. He wrote a series of exams and interviews and was eventually engaged as an IT Officer at Dangote Refinery. “These kinds of fairs are very important,” Okugini said. “It is one thing to walk into

Students interfacing with company representatives during the AUN career fair held at Civic Centre, Lagos...recently

Some of the students writing internship placement tests

a company and talk to the HR about your capabilities, but when you have all of them under one roof, you have the opportunity of speaking to all of them and even handing them your CV. The fair gives you the platform to do that.” Another success story of the Career Fair is Richard Enoka who also works at PwC. The Software Engineering graduate was at the 2014 fair and he notes that it taught him

everything he knows about impressing potential employers. “At the first fair I went to in 2014, there were workshops on CV preparation, how to present yourself at interviews and so many other things,” he said. “And those stuffs I learnt then helped me when I finally applied to work with PwC. The fair is a very valuable experience, especially for those who are looking to get internships.”

WEDNESDAY, APRIL 5, 2017, • T H I S D AY

FEATURES

An AUN Alumni speaks to representatives of one of the fair's participating companies

A focus on career development According to the university’s Senior Vice President for Campus Life and Dean of Students, developing students for a rewarding and fruitful career is one of the core principles upon which AUN is built on. Mr. Bullock, who was at the 10th fair said the university takes a long-term approach in helping students get the best out of their potentials. “A lot of students come to the university and they

think they want to be a Petroleum Chemistry major, they think they want to be an IT major, and they change their minds,” he said. “So the Career Development Programme that we have has an office where those students can go and explore careers. We have all kinds of workshops on campus that focus on careers; we have companies who come directly to our university and will try to recruit, or at least talk about the kinds of opportunities they have in

Participants at the point of registration for the fair.

their different companies throughout the year. So career development, for us, is a long term process; it’s from the time that they enter the university. “Most of these students are young and are making these kinds of crucial decisions for the first time, so the Career Development Office is intended to connect them and give them an opportunity to explore various different careers.” It is this sort of dedication to helping students develop their careers that prompted the

university to move this year’s fair to Lagos. “It was originally scheduled for Abuja,” Bullock said, “but because of the airport shutdown, we decided to move it to Lagos, because we did not want to lose the momentum of the career fair activity; we’ve grown the fair out over the past six years and we’ve made good contacts with companies, with Graduate School representatives, and we didn’t want to lose that.”

IMAGES

WEDNESDAY, APRIL 5, 2016, • T H I S D AY

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

L-R: Director of Operations, Accident Investigations Bureau (AIB), Captain Dayyabu Raka; Commissioner/CEO, Engr. Akin Olateru, and Director of Engineering, Engr. Mohammed Wali, all of Accident Investigations Bureau, during the press conference on the presentation of reports of the 2012 Dana Air crash and other air accidents held at AIB oﬃce, Murtala Muhammed Airport, Ikeja, Lagos....recently kolawole alli

L-R: Business Development Manager, Blaugrana Group, Mr. Alvaro Suarez; Chief Operating Oﬃcer, Five Sports, Mr. Adebayo Akande; and Marketing Manager, Red Bull Nigeria, Mr. William Lane, during Blaugrana Group Support event in Lagos.... recently

L-R: Group Head,Creative Industry Group,Bank of Industry,Mrs Cynthia Nwuka; founder,Terra kulture and Bolanle Austine-Peters Production, Mrs Bolanle Austin-Peters,and acting Managing Director, Bank of Industry,Mr. Waheed Olagunju, at the launch of the TerraKulture Arena, in Lagos...recently.

L-R: Member, Entrepreneurs’ Organisation (EO) Lagos Chapter, Tunji Abioye; president elect, EO, Lagos Chapter, Ayo Stuﬀman; Chairman of the Global Board of Directors, EO, Ivan Ting; Outgoing president, EO, Lagos Chapter, Funmi Babington-Ashaye,and a member, EO, United States, Fred Johnson during the global chairman’s African Tour reception in Lagos....recently

L-R; Assistant Brand Manager, Heineken, Amina Jagun; Founder Heineken LFDW, Omoyemi Akerele; and project manager, Heineken LFDW, Tobi Idowu; at the Heineken Lagos Fashion and Design Week Autumn Winter 2017 presentation. in Lagos....recently

L-R: Research Director, National Conscience Party (NCP), Lagos Branch, Comrade Olusola Onagunwa; Chairman, Comrade Bayo Ogunleye; General Secretary, Yusuf M. Omuya, and Vice Chairman, Mrs. Mosunmola Opeyemi, during the inauguration of the new exco members of National Conscience Party (NCP), Lagos State chapter in Lagos...recently. kolawole alli.

Governor Umar Ganduje of Kano state (right)presenting prize to best trainee in welding and body works, Saifullahi Sani while DG Peugeot learning Center Mrs Elizabeth Mordi watches at the graduation/induction ceremony in Kano...recently

L-R: Associate professor, Nanyang Technological University Singapore, Matthew Tan; Nigeria Business Head / Vice President, Olam, Mr Ashish Pande; Consultant, Animal feed and protein Olam Grains, Mr. Yahaya Fufore; and Deputy Director, National Agency for Food, Drug Administration and Control, (NAFDAC), Dr Maiyaki Isa , during the launch of Aqualis ﬁsh feed by Crown Flour Mill Ltd in Lagos...recently

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

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

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

Quick Takes FCMB Has $15m Exposure to Etisalat

First City Monument Bank (FCMB) said it has an exposure of N4.5 billion ($14.7 million) to Etisalat Nigeria and about N500 million to contractors working with the telecom firm. The Nigerian arm of Abu Dhabi-listed telecoms company Etisalat has been discussing with 13 local banks about renegotiating the terms of a $1.2 billion loan after missing a payment. FCMB Group Plc recently 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 results 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.

Heritage Bank Enhances Capacity

BUSINESS EXPANSION

L-R: Group Executive Director, Legal Services, NIPCO Plc, Barrister Paul Obi; Managing Director, Mobil Plc,Tunji Oyebanji; Group Managing Director, NIPCO Plc, Venkataraman Venkatapathy and Group Executive Director, Corporate Services, NIPCO, Alhaji Abdulkadir Aminu at a press brieﬁng to announce the completion of the acquisition of ExxonMobil equity in Mobil Plc by NIPCO Plc in Lagos …recently Abiodun Ajala

Don’t Offer Products with Insurance Features, CBN Warns Banks Obinna Chima The Central Bank of Nigeria (CBN) has advised banks under its regulation not to offer products that incorporate insurance features. The banking sector regulator also urged the financial institutions not to offer free premium payments as a feature of any of their products. The CBN stated this in its “Revised Guidelines on Bancassurance Model,” obtained on its website. Bancassurance is arrangement in which insurance companies leverage on the customer base of banks to sell insurance products to banks’ customers. Also, refer-

BANKING ral model is a model whereby a bank refers its customers to its partner insurance companies. In return, the bank receives a commission on each lead closed by the insurance company. The bank is not involved in marketing the products. But, the central bank warned that banks should not provide the bancassurance referral service in a manner that contravenes these guidelines. “Banks shall not engage in any other model of bancassurance other than that permitted under these guidelines and

for which approval has been obtained from the CBN. The referral model of bancassurance arrangement between a bank and an insurance company shall not be valid without an executed Bancassurance Agreement. “Banks shall not undertake any insurance marketing, underwriting or claim settlement. This must be clearly stated in the Bancassurance Agreement. Banks shall ensure that no risks are transferred to it and shall not assume any fiduciary responsibility or liability for any consequences, financial or otherwise, arising from the subscription to insurance policies by their customers under the

Bancassurance Referral Model. “Banks shall conduct a thorough due diligence/periodic assessment for the selection of partner insurance companies, which would be restricted to two insurance companies. Banks shall ensure that only insurance products approved by NAICOM are offered by their partner insurance companies to their customers,” it added. Furthermore, the guidelines stated that banks shall not enter into bancassurance agreement with insurance companies who do not hold a valid operational license from National Insurance Continued on page 24

Shareholders Earn N168bn Dividend from Four Banks Goddy Egene Shareholders of Access Bank Plc, Guaranty Trust Bank Plc, United Bank for Africa Plc and Zenith Bank Plc are reaping the benefits of their investments as the four banks have given a total of N168.29 billion as dividends for the 2016 financial year. The Nigerian economy went into recession last year, a development that has affected the performance of many companies for the year. While investors in some companies will receive lower dividends, some will be without dividends. However, these four banks have rewarded their shareholders with higher dividend, the challenging environment notwithstanding. Zenith Bank recorded the

CAPITAL MARKET highest gross dividend payout of N63.42 billion, which translated to 202kobo per share. The shareholders have already approved and started receiving the dividend after their annual general meeting (AGM) that was held last month. Addressing the shareholders at the AGM, Chairman of Zenith Bank Plc, Mr. Jim Ovia said the bank was able to fully exploit the available opportunities to post the impressive results. He said in line with its commitment to delivering superior returns to its much-valued shareholders, the bank ensured that a good chunk of the profit was set aside for shareholders. “In this regard, we have de-

clared and paid you an interim dividend of 25 kobo per share in the course of 2016 financial year. We hereby propose a final dividend of 177 kobo per share. This brings the total dividend for the year ended December 31, 2016 to 202 kobo per share as against 180 kobo per share paid the previous year,” Ovia said. GTBank Plc followed with a dividend of N58.86 billion, which is equivalent to 200 kobo per share. The shareholders are expected to approve the dividend at the forthcoming AGM of the bank. Similarly, UBA Plc is to reward its shareholders with N27.21 billion for the year, translating to 75 kobo per share. According to the Group Managing Director/Chief Executive Officer of UBA, Mr. Kennedy

Uzoka, the bank would continue to deliver excellent service to its customer and remain committed to creating superior and sustainable returns for its shareholders. In the same vein, Access Bank Plc last week splashed N18.80 billion dividend on the shareholders. Every shareholder went home with 65 kobo dividend per share. Addressing the shareholders at the AGM last week, the Chairman of the Access Bank, Mrs. Mosun Belo-Olusoga said the board would remain focused in its pursuit of shareholder value and continue to provide the stability and strategic direction the bank requires to deliver Continued on page 24

Heritage Bank Limited said it has enhanced capacity of ExHousemates of Big Brother Naija reality TV show and other emerging 21st century entrepreneurs at an SME enhancement capacity training programme. A statement quoted Head, Solutions and Propositions of Heritage Bank, Mr. Ejikeme Obiano, to have said that the bank was committed to creating, preserving and transferring wealth as a timeless wealth partner to its customers. He said the bank sees each customer as unique and therefore designs solutions that are tailored to address each customer’s needs. Obiano also said the bank prided itself as a leader in many fronts such as the first to introduce COT free banking since it came into operation in 2013 as well as being the first to issue transparent cards and wallet sized-mobile POS. The Head of Solutions and Propositions also remarked that the bank had put in place HB Concourse offices in Lagos, Abuja among others to enable budding entrepreneurs to access information on SME online as well as hold business meetings in a bid to reduce overhead costs at the beginning. Some of the Ex-BBnaija Housemates that graced the event include Offiong Edet Anthony (Thin Tall Tony), Ese Eriata (Ese), Ekemini Ekerette (Kemen), CoColce Sowode (Coco-Ice), Gifty Powers, Uriel Ngozi Oputa (Uriel), Miyonse Oluwaseyi (Miyonse) and Somadina Anyama (Soma). Also speaking, Mrs. Raliat Oyetunde, a principal SME Consultant to Heritage Bank listed some key qualities that would enable budding entrepreneurs to run a successful business in the Nigerian economy.

Wapic Insurance Organises Summit

Wapic Insurance Plc, recently contributed its quota towards the development of the Insurance sector through hosting of the maiden edition of its Annual Insurance Summit in Lagos. With the theme, ‘Solvency II and the insurance industry’, the summit, which held at the company’s headquarters in Lagos, attracted participants from various segments of the insurance industry in Nigeria. The Main focus of discussions at the summit was the newly introduced Risk Based Supervision model which the industry regulator, the National Insurance commission said will replace the hitherto compliance based model . The model, was adopted from Europe and is billed to structure insurance players to only concentrate on businesses they have enough ﬁnancial muscle to carry. With the summit, Wapic Insurance, positioned itself at the forefront of debates and interactions that will not only boost industry capacity, but redeﬁne operational procedures and trigger industry development. Speaking after presentations by Director, Jurgens Kroon, Africa Business Analytics, Bondyra Krasztof, Director, Asseco Europe and Thierry Mbimi, Partner and Head Financial Risk Management, KPMG, Wapic Insurance’s Executive Director, Bode Ojeniyi,said the industry-thought leadership seminar, sought to highlight the potential impact of the new risk based supervision from a global context.

It is tantamount to economic sabotage when individuals start hoarding money, thereby crippling businesses which depend on cash to striv

CEO, FirstBank Nigeria Limited

Dr. Adesola Adeduntan

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD DON’T OFFER PRODUCTS WITH INSURANCE FEATURES, CBN WARNS BANKS Commission (NAICOM). The offering of bancassurance referral services by a bank is subject to the CBN’s approval. According to the CBN, a bank that intends to offer bancassurance referral services is required to submit the following alongside its application: Extract of Board resolution approving the service; the Bancassurance Agreement between the bank and the insurance company, which should at the minimum set out; and the bancassurance products to be offered by the insuranc ecompany. Others include the duties and responsibilities of each of the parties under the arrangement during and upon termination of the contract; the conditions for the termination of the agreement; and the commission to be charged for the referral services should be as approved by NAICOM. “Any amendment to the bancassurance agreement shall be subject to the approval of the CBN. Upon the termination of the agreement, the bank shall notify the CBN stating the reason(s) for the termination. Banks shall only refer their customers to insurance companies. Thus, marketing of the insurance products shall be done by the staff of the insurance companies. “The referral document shall contain a disclaimer that the products shall be underwritten by the insurance company with no recourse to the bank in terms of claims or any legal proceedings between the insurance company. SHAREHOLDERS EARN N168BN DIVIDEND FROM FOUR BANKS operational excellence in our bid to become the world’s most respected African bank. The Group Managing Director/Chief Executive Officer of Access Bank, Herbert Wigwe said that although the macro-economic conditions and corresponding implications on the banking industry remain uncertain, the bank’s diversified banking model, robust balance sheet and solid management team give it the strength and resilience that will keep the financial institution in good stead.

NEWS

Insurance Operators Deplore Plan to Move N164.7 bn to Pension Sector Ebere Nwoji with Agency report Life Insurance operators may face harder times as they have to move over N164.7 billion to the pension industry following recent joint statement issued by regulators of pension industry, the National Pension Commission (PenCom) and insurance industry regulator, the Nation Insurance Commission ( NAICOM). The funds include the N145.05 billion annuity assets they were mandated to keep as operational account in the custody of Pension Fund Custodians (PFCs) and the N19.7 billion legacy pension funds being demanded by Pension Transitional Arrangement Directorate (PTAD). Already, some life insurance business operators have raised the alarm that the short period suspension they went into on account of suspension of annuity underwriting by PenCom between Novermber, 2016 and February 2017 cost one particular firm over N1 billion premium. This being the case, there are palpable fears that the transfer of the above funds will dry up pockets of life insurance underwriters. PTAD had accused some insurance companies of withholding N19.7billion, which they ought to have transferred to the agency. PTAD’s Executive secretary, Barrister Sharon Ikeazo, said in Abuja that the agency which is saddled with the responsibility of handling pension matters of pensioners under the Defined

Benefit Scheme, was working with the Minister of Finance to ensure that all outstanding legacy funds were transferred to the agency so as to have money to defray some of the liabilities arising from nonpayment of pensions. She said the government, will determine what action to be taken against such insurance companies that held the agency to ransom by failing to transfer the funds to the agency. “The Pension Reform Act 2014 mandated PTAD, to take over all pension assets, funds and liabilities of erstwhile

Pension Offices and Boards of Parastatals. While these Offices and Boards have been quick to transfer liabilities to PTAD, the funds and assets, have not been forthcoming. We have been able to access funds to pay our arrears. “Since PTAD took over the pension management of Parastatals such as Universities and Colleges of Education in August 2015, legacy pension funds amounting to N19, 137,694,619.94 have remained in the custody of the Insurance Companies.

“We have issued demand notices on the Companies involved, demanding for the transfer of these outstanding funds into our dedicated eCollection account with the CBN. Till date, only Leadway Assurance has paid funds in its custody. “We are working closely with the Honourable Minister of Finance to ensure that all outstanding legacy funds are transferred to us. This would enable us to defray some of Government’s liabilities arising from the non-payment of pensions,” she said.

Last week, the National Pension Commission (PenCom) and National Insurance Commission (NAICOM) resolved the annuity impasse by agreeing to allow life insurance companies to open operational accounts with Pension Fund Custodians (PFCs) of their choice. The regulators, in a joint circular, said they are currently reviewing the regulation on retiree life annuity, which will be jointly released to the public in compliance with the PRA 2014 within 3 months of this notice.

YOU ARE CERTIFIED

L-R: Special Assistant to the President on Budget and Planning, Mr. Tijani Abdullahi; Deputy High Commissioner, British Embassy, Mrs. Harriet Thompson; Minister of Youth and Sport, Mr. Solomon Lalong and Managing Director, Galaxy Backbone Limited, Mallam Yusuf Kazaure, during the oﬃcial presentation of ISO 2000-1 certiﬁcation to International founder organisation of Galaxy Backbone limited in Abuja...recently enock reuben

FG Provides Update on Ease of Doing Business Index Effort Raheem Akingbolu In response to the World Bank’s Ease of Doing Business Index which rates Nigeria 169 out of 190 countries surveyed, the federal government through Presidential Enabling Business Environment Council (PEBEC) has provided updates on its effort to move the country 20 places up the standings before the end of the year. Nigeria was adjudged one of the most unfriendly countries for businesses by the World Bank after scoring low on business enabling indicators

such as trading across borders, payment of taxes, getting electricity, resolving insolvency, registration of property, getting credit and starting a business. Nigeria was 94th on the index in 2006. Speaking at the March edition of the business dialogue organised by the Nigerian-American Chamber of Commerce in Lagos with the theme “Improving the ease of Doing Business in Nigeria”, Coordinator PEBEC and Senior Special Assistant to the President on Industry Trade and Investment, Dr. Jumoke Oduwole said the council has

already swung into action and is being backed by the political will of President Muhammadu Buhari. According to her, the council early this year gave the secretariat a task of coming up “with things that could be done within a short time to make an impact on our ranking at least 20 spaces this year. On 21st February, the council approved a 60-day national action plan.” On what has been done so far, she said, “on starting of business, we promised reduction of registration

time from ten to two days, which has been one. We are working with the states on reduction of time cost for registration of property. On electricity, the part that concern getting connected to the grid, the minister has given directives to the DISCOs to reduce the number of steps from nine to five. On getting credit, we are working with the legislators to pass two critical bills within the next 30 days on the collateral pedigree and credit bureau to make sure that SMEs can have better credit access. On taxing, there has

been lot of e-filling reforms and engagement. FIRS was on a tour of office training on all the steps that can be taken on the software and took feedback on usability issues from accounting firms that use the software. Oduwole stated that among other measures, the president has issued a directive to reduce the amount of documents required for clearing goods at the ports. “On importation, we found that Nigeria has about four forms unlike other countries and two other forms.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

NCC Urges Subscribers to Take Advantage of 2442 Code

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

As part of efforts to educate telecommunications consumers on their rights to quality telecoms services, the Nigerian Communications Commission (NCC) said subscribers could stop unsolicited text messages if they send “STOP” to “2442”. This, according to NCC, “is part of the ongoing campaign to enlighten consumers on their rights to better services.” In declaring 2017 as the year of Nigerian Telecom Consumer

Crusoe Osagie Emma Okonji

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)

recently, Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta said the year of the Consumer would focus on two key areas viz improving the quality of service; protecting and educating the consumer. “To address the unsolicited calls received by consumers, the NCC has introduced the Do Not Disturb (DND) facility where consumers are urged to activate the service by dialing “2442” code. The EVC also said that consumers should access

the customer toll free line by dialing 622 to register their complaints if they do not get such complaints addressed by the network operator. According to him, NCC would increase the awareness level and equally the activation level of these two initiatives, adding that in its determination to ensure that the consumer experiences improved quality of service in the year and beyond, “the commission is implementing measures

to reduce Dropped Call Rate (DCR) to meet its benchmark of less than one per cent. It will closely monitor, track, and review the Key Performance Indicators (KPIs) of operators by network integrity and technical standards department”, adding that “greater efforts would also be put in compliance, monitoring and enforcement of set standards”. The Commission has begun an enlightenment campaign to let the consumers know what to do whenever the issue of

unsolicited telemarketing arises. Jingles are already running on radio stations and adverts in the print and other media are underway, NCC said in a statement. NCC also advised subscribers to avoid purchasing preregistered Subscriber Identity Module (SIM) cards because of the dangers they portend to the security of our society. Every SIM card purchased must be registered with the network provider, the NCC declared.

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD

NEWS

DataPro Introduces GPS to Address Veriﬁcation Issues in Banks Adedayo Adejobi As part of efforts to curb fictitious address verification during the mandatory Know Your Customer (KYC) procedure in banks and other financial institutions, DataPro, one of the leading compliance Solutions Companies, has introduced the capturing of the Global Positioning System (GPS) featuring the latitude and longitude of an address. Speaking to journalists in Lagos, the Executive Director, Operations of the company, Mr. Oladele Adeoye explained that ‘’since the company pioneered the outsourcing of address verification by banks in 2010, one major challenge has been how to have a fool-proof method of documenting the process’’. He said: “With the recent introduction of our mobile application, the company

is now able to completely eliminate fictitious address verification by capturing the GPS, photograph and all other physical characteristics of any address in Nigeria on-line and real time.’’ He added: ‘’The mobile application would eliminate all paper work, guaranty proof-of-work and achieve robust turn-around-time.” By virtue of Section 3 of the Money Laundering Prohibition Act (MPLA) 2011 ( As Amended) all Financial Institutions are mandated to conduct the KYC procedure, which involves the identification and verification of the customers demographics of name and address before establishing any business relationship with the customer. This, the company said “is to ascertain that the customer is who he says he is, and also confirm if he is the

Ultimate Beneficial Owner (UBO).” Adeoye however noted that this process is fraught with a lot of bottle-necks in Nigeria because the country does not have a comprehensive, reliable and up-to-date database of names and addresses of all its citizens. Financial institutions are thus saddled with the task of using both secondary and primary techniques of verification to meet this statutory obligation which has exposed a lot of their employees to professional hazards. In order to eliminate these field hazards and enable the bank employees concentrate on their core competence, DataPro brought outsourcing of the primary technique which is address verification to the industry.

Don Decries FG’s Poor Approach to Science, Tech, Innovations Kasim Sumaina in Abuja President, Africa University of Science and Technology (AUST), Prof. Kingston Nyamapfene has decried government’s poor commitment to the development of science, technology and innovation in Nigeria. Briefing journalists recently, in Abuja during the 2017 Africa Capacity Building Foundation Report held at the University premises, Nyamapfene said: “African governments like making statements about what they will do to support science, technology and innovations but, simply pay lip service to it. That is one of the negative effects affecting Science, technology and innovation in Africa.”

He said the report recommended noted that for Africa to catch-up with the rest of the world on science technology and innovations, we need to increase its contribution to 3 per cent of the GDP. That’s one area. The other area is to deal with the institutional weakness in Africa.” “We have many universities, research institutions and so on. But, the type of work they are doing is not necessarily linked to the actual needs on the ground and there is need to link research activities to items that will drive national economies and improve the quality of life and economic transformation of the country” We believe that the 2017 African Report is really important landmark for the development of science and

technology policy in Africa, because of the way in which it was coordinator centrally by a very important agency, the Africa Capacity Building Foundation. “So, one of the primary partners for funding the activities at AUST and but equally important is the fact that, this event is linked to the presentation to the African Union Council, the report for the whole of Africa which is happening at about this time in Adi’s Ababa. This report is bent on developing institutional capacity. It’s meant to narrate all the critical capacity dimensions that are important to the Continent’s growth and economic transformation at country and continental level.

Timekeepers Unveils New Store in Lekki Sunday Okobi

It was a weekend of style, glitz and glamour as Timekeepers launched into the Nigerian market, its newest store at the Novare-Lekki Mall, Lagos, with a display of quality wristwatches, jewelry and other accessories. At the event which took place in Lekki, where GUESS and Gc (Guess collection) brands were prominently featured to the array of Timekeepers’ fashion accessories portfolio, the owners of the brand stated that Gc, a Swiss Precision brand whose signature “Smart Luxury” stands for the brand’s commitment to provide quality timepieces and luxury products at a reachable price point for Nigerians. According to the Managing Director, Timekeepers, Akinyemi Mobolaji, with a spark of radiance and excellence, the launch event glided from the glamorous red-carpet

phase to the magnificent tapecutting and official opening of the store and product unveiling and funfair. The event hosted a number of style-conscious personalities including top radio personalities like Folu Storms, Douglas Wokocha-Jekan and a host of existing and new lovers of the Timekeepers brand. In his remarks, Mobolaji said Timekeepers has through the years positioned itself as a custodian of style and value for both the Nigerian market and the international community. He said: “Timekeepers is a leading retailer and distributor of quality timepieces, jewelry, sunglasses and other accessories from some of the best-known brands in the world. In its portfolio are watch and jewelry brands that include: Police, Cerruti 1881, French Connection, Sekonda, Roamer of Switzerland, Victorinox Swiss Army, Jacques Farel (Kids) and now GUESS and Gc (Guess

Collection). “The retail brand also parades a fine list of sunglasses from brands such as Rayban, Police, Hugo Boss, Gucci, Armani, D&G, Versace, Escada, Carrera and much more. In its accessories section, it offers the world famous Victorinox Swiss Army Knives as well Police perfumes. Timekeepers in addition to the new Novare-Lekki Mall store, has stores at the Ikeja City Mall, Apapa Mall and Festival Mall in Festac all in Lagos. In Abuja, it has stores at Grand Towers Mall and at the Jabi Lake Mall. It also has at the Polo Park Mall in Enugu as well as The Palms Shopping Mall, in Ibadan, Oyo. The brand runs an ecommerce website www. timekeepers-ng.com where its products can be accessed along with a wide range of informative write-ups on wrist watches, jewelry and accessories.”

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Are We Serious about “Made in Nigeria”?

Nigeria is a great nation. Late last year, I spent some time working in one of the French speaking West African countries. The flight from the country arrives close to midnight and I live on the Lekki axis. What continually struck me each time we touched down in Lagos was the magnificence of the city. This was more so as I journeyed home from the airport through third mainland bridge, Ikoyi and Falomo bridge. The city juxtaposed with where I was coming from was incomparable. It was scenic and glorious at night. The lights, the buildings and the life, even at that time of the night was a sight to behold. We are really blessed! When compared with where I had been working described as the “Paris of West Africa”, there was no basis for comparison. Lagos and Nigeria has character and substance. The people have character and substance. The question is, do we realize it? Yes, I believe we do. So, what are we doing to continually showcase this strength, substance and character that we have as a nation? A basic example in comparison with “the Paris of Africa”, is what I noticed they were proud to wear to work as business attire. Many of them wore smart Africa print to work and it was accepted as business attire. They were proud to display their heritage and culture which they clearly depicted in their dressing. How many business establishments in Nigeria allow you to wear Africa print to work? A few pay lip service to it on Fridays. Why can it not be every day? Why are we relegating our cultural attire to the background in preference for imported western clothes? This is why I am asking the question; “are we serious about “made in Nigeria”? Last year, the President of the Senate, Dr. Abubakar Bukola Saraki launched a contest to promote made in Nigeria products. The contest was for three months duration with the objective of showcasing how made in Nigeria products are processed using raw materials obtained from the country. Saraki said: “The contest would identify the good products that could be matched with investor and government agencies and such agencies will drive the products to the extent that they compete favourably with any similar product being imported”. He also went on to say that the challenge would be wrapped up in March 2017, where finalists would be invited to a Made in

Imagine how great the feeling will be when we start to take “Made in Nigeria seriously” by producing and exporting our products to other nations globally

Nigeria Roundtable at the Senate. He said: “This roundtable will allow legislators, government agencies, business owners and every day Nigerian consumers to review and update the National Assembly Environment Roundtable (NASSBER), which was held in 2016 to improve the ease of doing business in the country.” We are now in April 2017, I am not sure his promise and the results have been actualized or I may have missed it. Again, my question is, “are we paying lip service to made in Nigeria or what is being done and planned is not being effectively disseminated? Nigerians want to see and know how we are actualizing this dream or reality of made in Nigeria. As we all know, there is national pride that you feel when you see anything that says a product is made in your country. I have a computer bag and handbag made by a Nigerian bag designer, “Femi Handbags”. Anywhere I carry the bags to globally, because of the quality, beauty and sturdiness of the bags, people are always asking “where did you get it”? I’m usually proud to say it is made in Nigeria by a Nigerian designer. We also know how great we feel, when we hear about how well Nigerians are excelling in other countries academically compared to other nationalities, especially in the USA and how proud it makes us feel. So, imagine how great the feeling will be when we start to take “Made in Nigeria seriously” by producing and exporting our products to other nations globally. The above is the feel good factor. Let’s look at what economist say about its ability to propel our economy when we start to trade our goods, especially the growth impetus to small and medium enterprises, the mainstay of the Nigerian economy. Further benefits include local job creation and the multiplier effect of creating additional jobs within each product or ecosystem; the conservation of our foreign exchange and increasing our foreign reserve; strengthening the naira against the dollar; making us financially independent; boosting our GDP, encouraging innovation and technology transfer; to name a few. It’s clear that the made in Nigeria concept should not be allowed to fade like many initiatives fail in this country. Everybody must believe in the concept and make it work. We need to see the benefits and use it to move the nation forward. Holler! I am giving a Holler! to Uber. I got introduced to Uber in South Africa when I went on a business trip and everybody was using Uber. I was still wedded to the hotel taxis, until a colleague initiated me and encouraged me to download the app. Since then I became an avid user. I find it convenient to use Uber’s services when going to the airport or business meetings with cumbersome parking spaces. The drivers are polite for the most part and the cars are good quality. However, in recent times the cars do not arrive on time. Is it that the demand is high and they have few cars to turnaround? This needs to be addressed because of the threat of competition encroaching into the market. We now have a number of similar organisations in Nigeria jostling for the same market share and Uber needs to work on maintaining its lead. – Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD

ANALYSIS

Nigerian Bourse: Unable to Shake off a Bleak Run Goddy Egene writes that despite recording a boom in new listings in the first quarter, the stock market declined by 5.1 per cent After the stock market recorded three straight declines in 2014, 2015, 2016, expectations were high that it will recover this year. The Chief Executive Officer of the Nigerian Stock Exchange (NSE), Mr. Oscar Onyema, had raised hopes of a possible bullish capital market in 2017. “There will be a revival of supplementary listings, return of the new issuance market, and potentially one IPO since the equity market is a forward indicator of the economy. We are cautiously optimistic, as consensus estimates suggest a moderate recovery for Nigeria in 2017, provided that policy makers implement the right combination of policy measures,” Onyema had said. According to Onyema, in the immediate future, the NSE will focus on achieving its goal of becoming a more agile and demutualised exchange and will fast track efforts towards developing innovative products such as exchange traded derivatives to provide investors with tools to better weather economic realities in 2017. “We intend to strengthen our thought leadership efforts with policymakers to drive policies that will free up the system and promote the ease of doing business in Nigeria. We believe that incentive schemes for sectors of the economy that can support a pivot to export led economy will be beneficial and systematic removal of impediments to doing business and therefore reduction of leakages will attract private sector investments,” Onyema said. Also, analysts at Meristem Securities Limited projected that the Nigerian stock market will close 2017 positively, saying it will gain 3.49 per cent. They explained that the market is expected to remain largely weak in the first half of 2017 on the back of subsisting macroeconomic uncertainties before modest recovery towards the tail end of the year. “However, we note that market recovery is partly hinged on stability in the FX market and moderation in exchange rate gap between the interbank and parallel markets. Based on our mix of methodologies, we arrived at a 2017 index level of 27,812, 50, indicating a +3.49 per cent potential market return by December 31, 2017,” they said. However, the market began on negative note as the NSE All-Share Index fell by 5.1 per cent to close at 26,874.62 to close lower at 25,516.34 in the first quarter (Q1) that ended last Friday, the market capitalisation shed N426 billion to close the Q1 at N8.829 trillion, from N9.255 trillion. The decline recorded in the Q1 was not unexpected as the market’s performance reflected the headwinds that still persist in the economy. Factors for Poor Performance The market performance has been affected by factors such as investors’ drift to fixed income securities, exit of foreign investors due to foreign exchange (forex) challenges and poor corporate results engendered by difficult operating environment. Since 2011 foreign transactions have consistently outperformed domestic transactions. However, domestic transactions slightly outperformed foreign transactions in 2016, accounting for 55 per cent of the total transaction volume in 2016. At the end of February 2017, domestic investors dominated transactions, staking N39.57 billion while foreign investors invested N34.54 billion. However, the N39.57 billion invested by domestic investors in February is 22.8 per cent lower than the N51.31 billion they invested in January. Similarly, the N34.54 billion invested by foreign investors is 21.4 per cent lower than the N44.01 billion they invested in January. Analysts at Afrinvest had attributed the low level of foreign portfolio investments, to currency controls which led to the protracted crunch in the Nigerian FX market throughout 2016. “Thus, the persistent confidence deficit amongst foreign investors in returning to the Nigerian market due to currency, liquidity and reinvestment risks will remain a drag on capital inflows, performance of corporates and capital

market performance,” they said. N10billion Share Scandal While many foreign investors continue to stay away from the market due to foreign exchange challenges, the confidence of the domestic investors was punctured by a major share scam involving a leading stockbroker, Mr. Victor Ogiemwonyi, who is the Managing Director of Partnership Securities Limited (PSL). The scandal estimated at N10 billion, relates

Our domestic market needs to rally around our own domestic issuances. The recently issued Euro Bonds are a testament to us that the Nigerian Market is still viable. So, let’s translate that to domestic issuances. Greening our economy and ﬁnancial systems will in the long run support our sustainability efforts and improve the economy as it will open new avenues for new types of jobs, innovation and skill

to misappropriation and diversion of funds realised from sale of clients’ shares involving PSL and other companies in the Partnership family-Partnership Investment Company Plc; Life Care Partners Limited and SBDC Microfinance Bank Limited. Ogiemwonyi was alleged to have misappropriated funds of PSL’s clients valued over N10 billion. However, the client, who first raised the alarm is Mr. Arnold Ekpe, a former Chief Executive Officer of Ecobank Transnational Incorporated (ETI). According to Ekpe, the PSL boss sold his ETI shares valued at N1.2 billion without remitting the proceeds into his account. Ogiemwonyi was also alleged to have misappropriate $80,000 belong to Ekpe. Ogiemwonyi, in a letter dated October 17, 2016 and titled “Admission of Outstanding Indebtedness of N1,237,245,095 and $80,000 to Mr. Arnold Ekpe,” acknowledged that Ekpe gave him a mandate to sell the shares and accept owing the him N1.237 billion. “We confirm that outstanding proceeds from the sale have been mis-appropriated by us and we undertake to meet the obligation of N1,237,245,095 and $80,000,” he said. New Listings However, while the environment remains challenging, 2017 started well in terms of new listings on the NSE in Q1. The NSE has recorded growth in value of listed securities to the tune of N369.25 billion in the quarter alone, indicating renewed investors’ confidence in the nation’s capital market. Specifically, Medview Airline and Jaiz Bank were listed by introduction, and have added N14.65billion and N36.83billion respectively to the market capitalisation of the NSE. Also, Stanbic IBTC Asset Management Limited listed 5,970,000 units of SIAML Pension ETF 40 while Forte Oil listed N9 billion series 1:5 year 17.5 per cent fixed rate unsecured

bonds due 2021 under a N50 billion bond issuance programme. There was also the listing by Introduction of 14,485,500 units of Greenwich Plus Money Market Fund at N100 each valued at N1,448,550,000 issued by Greenwich Asset Management Limited also contributed to this stellar performance. The historic listing was the $1 billion Federal Government of Nigeria Eurobond listed on the Nigerian bourse. The 15-year Sovereign Eurobond issued at a coupon of 7.875 per cent per annum, is the first foreign currency denominated security to be listed and traded in the Nigerian capital market. Commenting on the listing, the Director General, Debt Management Office (DMO), Dr. Abraham Nwankwo said that the listing of domestic Sovereign Eurobond reinforces FGN’s commitment to deepen and grow the Nigerian capital market. Developing the domestic market can help bridge the infrastructure deficit constraining economic growth. The Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo commented: “The listing of the dollar denominated bond on the Exchange will boost price discovery and liquidity in the local market as well as help attract reliable long term foreign currency denominated funds into the financial market. It will also set the foundation for raising and listing more foreign denominated securities in Nigeria which will open up additional capital raising options for issuers and portfolio diversification opportunities to investors.” Efforts to Deepen Market As part of efforts to deepen the stock market and boost financial inclusion, the Debt Management Office in March floated the Federal Government of Nigeria (FGN) Savings Bond for retail investors Exchange (NSE). The first issue of the sovereign savings bond, which will be a monthly issuance, Continued on page 29

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD

ANALYSIS

How Bank Stocks Fared in Q1 Obinna Chima examines the performance of some bank stocks in the first quarter of 2017

The tough macroeconomic environment is obviously taking its toll on commercial banks as well as other financial institutions with most of them adopting various strategies to remain afloat. Clearly, the impact of the situation in the Nigerian economy which fell into recession last year, manifested in the recently released full year 2016 results released by the banks that are quoted on the Nigerian Stock Exchange (NSE). Some of the issues that the banks had to contend with in recent times included forex scarcity, inflationary pressure, rising nonperforming loans, withdrawal of the treasury single accounts and the Central Bank of Nigeria’s restrictive monetary policy. Indeed, these challenges have continued to weigh down the performances of banks on the NSE. For instance, the NSE Banking Index recorded a year-to-date decline of 0.03 per cent to 274.25 basis points in the end of the first quarter. Also, the NSE’s market indicator, which measures the total performance of the Exchange dipped by 3.7 per cent in the first quarter of 2017 to N8.829 trillion at the end of March, 2017. Similarly, while the NSE All-share Index dropped by 5.05 per cent to 25,516.34 basis points at the end of the first quarter. Nevertheless, some banks’ improved performance in the first quarter of 2017 was attributed to their resilience, enhanced productivity and geographic diversification. United Bank for Africa The United Bank for Africa Plc’s (UBA) share price performed better than its peers in the industry in the first quarter of 2017. It appreciated by 30 per cent in the first quarter, from N4.45 per cent at the beginning of the year, to N5.77 per cent at the end of the first quarter. Its closing price for the first quarter was its highest in the period under review. According to analysts, the performance of UBA’s stock price was largely influenced by its 2016 full year results. UBA, which operates in 19 countries reported a 22 per cent growth in gross earnings to N384 billion for December ending 2016, from N315 billion at the end of the 2015 financial year, illustrating the bank’s ability to grow profitability despite the difficult macroeconomic environment. In addition to the

rising adoption of electronic banking channels in many of the African markets where UBA operates, the bank leveraged its strong franchise and geographical footprint. As reflected in the results, UBA saw a 32 per cent growth in profit before tax to N91 billion, compared to N68 billion profit recorded over the same period of 2015, while the bank’s profit after tax grew by 22 per cent to N72 billion, from N60 billion recorded the previous year. The key profitability driver was the 40 basis points expansion in the bank’s Net Interest Margin (6.7%) owing to the strong growth in Interest Income on account of favourable money market rates and a nearly flat interest expense (due to a contraction in funding costs). GTBank Guaranty Trust Bank’s (GTBank) share price ended the first quarter at N24.90 per share, which was a three per cent appreciation, compared with the N24 per share it was at the beginning of the year. The highest price the bank’s stock attained in the first quarter was the N26.80 per share it got to on March 27th. GTBank delivered solid fully year 2016 numbers. Its profit after tax was up 55 per cent year-on-year (y/y) while its net profit also climbed by 33 per cent in 2016. The bank reported gross earnings of N414.62 billion for 2016, showing an increase of 37 per cent from N301.85 billion in 2015. The gross earnings were driven primarily by growth in interest income as well as foreign exchange income. Interest income rose by 14.5 per cent to N262.5 billion, from N229.2 billion, while net interest income stood at N195.4 billion in 2016, up from N159.9 billion, showing an increase of 22.2 per cent. The bank therefore declared a final dividend of N51.5 billion. Analysts at CSL Stockbrokers Limited maintained a ‘Buy’ rating on GTBank with a target price of N28.19 per share. “Even in the event of an unexpected asset deterioration (which we think is unlikely in the near term), we see limited risk to the bank’s capital from potential provisions in 2017 considering the bank’s strong earnings retention capacity,” they added. Zenith Bank From N14.40 per share at the beginning of the year, Zenith Bank Plc’s climbed as high as

N16 per share, before closing the quarter at N14.05 per share as investors took advantage of the capital appreciation recorded within the period. The Zenith Bank had opened the full year 2016 earnings season of Nigerian banks with positive numbers. The bank posted gross earnings of N384.56 billion, showing an increase of 10.4 per cent. Net interest income grew by 6.9 per cent from N224.58 billion in 2015 to N240.2 billion in 2016. Also, its net impairment charges jumped by 106 per cent from N15.67 billion to N32.35 billion. However, other operating income soared by 401 per cent from N5.302 billion to N26.598 billion. The bank maintained a low cost profile as personnel expenses rose marginally by 2.3 per cent to N69 billion, from N67.5 billion. Similarly, other operating expenses rose by 4.9 per cent from N89.9 billion to N94.4 billion. Profit before tax rose by 24.7 per cent to N156.75 billion from N125.62 billion, while profit after tax stood at N129.65 billion, from N22.7 billion, showing an increase for 22.7 per cent. Access Bank Access Bank Plc’s share price improved by eight per cent in the first quarter of the year as it appreciated from N5.81 per share at the beginning of the year to N6.28 per share at the end of the first quarter. The highest price the bank’s share recorded in the first quarter was the N7.05 per share it attained on January 23rd, before it was hit by profit-taking. Access Bank recently paid out a total of N18.8 billion in dividends for the year ended December 31, 2016. The dividend translated to 65 kobo per share, up from 55 kobo per share received in 2015. The declaration of a better dividend pay-out for its shareholders was reflective of Access Bank’s better than expected revenue of N381.3 billion, an increase of 13 per cent from the N337.4 billion reported by the bank in 2015. Just the same, its net interest income rose by 32 per cent from N105.4 billion to N139.1 billion, while non-interest income grew marginally by 3.5 per cent to N134 billion, from N129 billion in the previous year. Stanbic IBTC The share price of the holding company appreciated by 13 per cent in the first quarter

of the year to N17.78 per share at the end of March 2017, up from the N15.69 per share it was at the beginning of the year. The highest price the bank’s share attained in the period under review was the N18.50 per share it was as at March 21. Stanbic IBTC delivered positive numbers for full year 2016, with its Net Income 51 per cent higher y/y. The key driver of net income growth for the bank was an expansion in net interest margins as a result of lower funding costs. While its impairments increased y/y and cost of risk deteriorated to 5.2 per cent, the improved non-performing loan ratio, according to analysts at CSL Stockbrokers Limited gave investors some level of comfort. Ratio of its non-performing loans to total loans, although still higher than the regulatory maximum of five per cent, declined to 6.4 per cent from 8.5 per cent in 2015. The bank continued to maintain strong capital ratios. Its capital adequacy ratio of 22.8 per cent was well above the regulatory requirement of 10 per cent. Union Bank Union Bank of Nigeria Plc’s share price declined in the period under review. It fell from N5.49 per share at the beginning of the first quarter of 2017, to N5 per share as at March 31. Union Bank recently revealed that following approvals from its shareholders, it will launch a rights issue in the second quarter of 2017 to raise up to N50 billion in tier 1 capital as it looks to accelerate business growth and position as a leading commercial bank in Nigeria. The additional funding, according to the bank, would also allow it to maintain compliance with regulatory capital requirements. Union Bank’s group audited financial statements for the year ended December 31, 2016 showed that profit before tax was up six per cent to N15.7 billion, compared with the N14.9 billion it was in the comparable period of 2015. Union Bank’s gross earnings was also up by eight per cent to N126.6 billion, as against the N117.2 billion it was the previous year. Also, interest income was up by eight per cent to N98 billion, compared with the N90.9 billion in 2015.

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD

INTERVIEW

Koekemoer: Nigeria Will Be Our Strongest Trading African Market Spur Steak Ranches is the trading name of Spur Corporation, a growing multi-brand restaurant franchisor headquartered in Cape Town, South Africa. The company’s franchise executive, Derrick Koekemoer visited Nigeria recently and spoke on the company’s operations. Chinazor Megbolu brings the excerpts: Can you provide us with an outline of the principles underlining Spur Steak Ranches’ mission, ethos and vision? Our mission is to be the best family restaurants in the markets in which we trade. This is driven by our values of generosity in service, fun and food. By being fired up by being engaging, enthusiastic and energetic and practicing and committing to daily excellence in our attention to details, by being consistent and by always learning and teaching. Your organisation has operations in several African countries, as well as overseas. Where exactly do you trade and how many restaurants and brands do you have? We are in South Africa, Mauritius, New Zealand, Australia, Namibia, Saudi Arabia and Oman. Others are Botswana, Ethiopia, Kenya, Tanzania, Swaziland, Lesotho, Uganda, Zimbabwe and Zambia. We are just under 600 restaurants strong. Our brands are Panarottis Pizzas pasta, John Dory Fish and Sushi, Spur, Hussar Grill, Captain Doregos, Rocomama, and Casa Bella. Competition is deﬁnitely intense in your industry. How do we differentiate Spur Steak Ranches from the competition? We are a very involved franchise company which we believe is a major point of difference. We stay deeply involved with our franchisees in their businesses and offer a great support system with ongoing training and development of people and product. We have excellent processes and fail proof operating systems in our businesses which are entrenched at store level to ensure our consistency. Our service and warm friendly environment is another area which we believe sets us apart from our competitors. Your company is passionate about presenting delicious meals to families and friends. However, how are you able to deal with cultural variations in the different markets where you operate? We have learnt that we cannot simply copy and paste what works in one country and think it will work in another. Africa is full Koekemoer:

We will continue to look at establishing our brands within the markets in which we trade and along with it be in a position to build strong logistical and operational support in these markets. For new markets we look at regions where there is the opportunity to be able to build a solid base of restaurants as well as to represent all of our brands. We have been trading in Nigeria for ﬁve years and have been prudent and cautious with our expansion

of a variety of so many different wonderful cultures and we have had to adapt accordingly. Our menu whilst similar to the South African model is very different in Nigeria, with a larger fish offering, more chicken dished and platter offerings as people like to share. We have also included traditional sides like Jolloff rice. In Ethiopia we have also had to deal with the religious culture and have included a fasting menu. In the Middle East we have also adapted to ensure we are in line with the culture and expectations.

to giving it a personal touch.

In line with Spur Steak Ranches International’s expansion strategy, how soon are we likely going to see more restaurants or franchises established in Nigeria. Besides, variation in the naming of your outlets may give the impression that they should compete against each. How do you respond to this? We are just about to open the fourth Spur and will also be launching our Panarottis Pizza and Pasta brand. This will be opening in the new Lekki Mall. All of our restaurants are individually owned and operated and draw from group expertise. Each restaurant has a unique character and the individual naming of the restaurants certainly does lend

We understand a Panarottis Pizza Pasta outlet is to be launched in Nigeria. How is that shaping up? Very well, the management have all attended training in South Africa and the shipment is about to be shipped. We are on track to open soon.

Besides South Africa, what other countries do you have your most successful franchises? Namibia and Mauritius are very strong markets for us. Although that being said we are certainly picking up traction in countries such as Zambia and Kenya. Whilst we are also still in our infancy in Nigeria we believe that Nigeria will still stand up and be our strongest trading African market.

People say ﬁne cooking and tasting is an art. Do you agree with this postulation? As well as an art we believe it also involves a lot of passion. One must have a passion for food and for preparing it and this is a key fundamental in our business, that our people have a passion for food.

It is remarkable that in marketing and décor, your company deploys a lot of non-African themes and names. Is this part of the global image building strategy? There is no specific strategy to align ourselves with any particular theme. We continuously evolve our look and feel in keeping it fresh, fun and most of all welcoming. What are the key takeouts on Spur Steak Ranches International’s global franchising policy. Can you give us an insight into your future plans for the Nigerian market? We will continue to look at establishing our brands within the markets in which we trade and along with it be in a position to build strong logistical and operational support in these markets. For new markets we look at regions where there is the opportunity to be able to build a solid base of restaurants as well as to represent all of our brands. We have been trading in Nigeria for five years and have been prudent and cautious with our expansion. We believe that we are now well positioned to further expand our brands strategically through Nigeria.

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD

NEWS

FG Owes Insurance Operators N8.4billion Premium Ebere Nwoji Despite the ‘no premium no cover’ regime, the federal government is owing the Insurance Industry about N8.4billion, which ought to have been paid for the group life insurance coverage for all federal civil servants. Group life insurance is insurance cover undertaken by the federal government through the Office of Head of Civil Service of the Federation on behalf of its federal civil servants for their protection against unforeseen circumstances, such as death and disabilities associated with industrial hazards while in active service.

THISDAY learnt that the debt emanated from the outstanding balance of premiums owed to participating underwriters in group life insurance of federal civil servants in 2012 and 2016. Reliable sources from one of the participating insurance companies hinted that in 2012, each of the underwriters were paid between 40 - 50 percent of their expected premiums for the group life insurance cover of civil servants assigned to them while over 50 percent (about N3 billion) of the total N6 billion premiums still remained unpaid till date, barely four years after. The Source explained that although, the former President Goodluck Jonathan’s admin-

istration claimed that it could only afford 50 percent of the amount, the federal government, through the Office of Head of Civil Service of the Federation (OHCSF), never got back to the underwriters in subsequent years to offset the debts on premiums. Further, with the exception of 2013- 2015, when the premiums were fully paid, the industry operators said that the federal government, is also yet to pay premiums for the renewal of the Group life Insurance of workers for the year, 2016. The government merely informed the 20 selected participating underwriting firms without yet any financial commitments by payment

of premiums. The expected premiums is N5.4 billion. The Group Life Insurance of civil servants, which expired since July last year, ought to have been renewed by August 12, 2016 but up till date, the beginning of the second quarter of 2017, it has not been renewed due to lack of funding by the federal government. Also, the insurance cover of assets of the federal government nationwide expired since August, last year. The processes for its renewal which will gulp several billions are yet to commence. A Source at the OHCSF told THISDAY that insurance of government assets, can wait for now, though no reason

was given for downplaying the process. The implication is that in the event of disaster affecting any of the government assets, there will be no compensation since it is no “no premium, no cover” regime. Industry operators complained that the inability of the federal government to meet its financial obligations to insurance industry has consistently robbed the sector expected capital and thus, hamper its contributions to nation’s Gross Domestic Product (GDP) and economic growth. Presently, the contribution of insurance sector to nation’s GDP is less than one percent, com-

pared to 9.5 percent contribution by the new pension scheme. In respect of the amount required and the approved underwriters, the Permanent Secretary (Common Services Office) in the OHSF, Mr. Yemi Adelakun, said: “It is usually N5.4 billion annually for civil servants. That’s the figure and that had been recurring for the last three or four years. For this current one, I think we shortlisted 21 insurance companies and Bureau of Public Procurement (BPP) gave us certificate of no objection for 20. And we can only work with those approved by the BPP and that approval has been confirmed by Mr. President.”

Mutual Benefits Assurance Investigates Alleged Fraud Ebere Nwoji Mutual Benefits Assurance Plc, has taken immediate steps to investigate and prosecute perpetrators of reported unethical and fraudulent practices allegedly uncovered in the company. In a statement, the Head, Corporate Communications, Mutual Benefit Assurance, Ellen Offo, said their attention had been drawn to an online publication of the unethical practices going in the company, saying the matter allegations are being investigated. Offo said: “Our attention has been drawn to an online publication alleging unethical practices going on in Mutual Benefits. While there was no mention of any specific member of staff in the report, we do commiserate with the customers involved and we have taken immediate steps to investigate and urgently look into the issues

raised in the report. We use this medium to assure our numerous customers that we shall prosecute anyone found to be complicit.” Offo stated Mutual Benefits Assurance has zero tolerance for fraud, stressing that her company, therefore, viewed the report with grave seriousness. According to her, as a deterrence, Mutual Benefits, has instituted a policy against payment of cash to members of staff, adding that the accepted mode of payment is clearly stated on all proposal forms of the company and policy documents. She said in addition, Mutual Benefits, has put in place secure and convenient cashless means of payment of premium such as direct debit, bank branch pay-direct, web-pay, online transfer, along with its third

GLOBAL MONEY WEEK

L – R: Head, Children Banking, Access Bank Plc, Ayodeji Akinbobola; Youth Product Manager, First Bank of Nigeria Limited, Adetokunbo Elliot; Acting Head, Corporate Services Division, The Nigerian Stock Exchange (NSE), Pai Gamde; Head, Corporate Communications, The Nigerian Stock Exchange (NSE), Olumide Orojimi; Head, Market Surveillance, NSE, Abimbola Babalola and Chief Executive Officer, Equity Capital Solutions, David Adonri, at the Closing Gong Ceremony in commemoration of the Global Money Week recently…recently. Yusuf Kazaure, during the official presentation of ISO 2000-1 certification to International founder organisation of Galaxy Backbone limited in Abuja...recently enock reuben

NIGERIAN BOURSE: UNABLE TO SHAKE OFF A BLEAK RUN opened on Monday, March 13, 2017 and closed on Friday, March 17, 2017. At the first issue, a total of N2.068billion was allotted via 2,575 successful subscriptions and the bond has been be listed on the NSE. The DMO accredited 87 stockbroking firms of the NSE to market and distribute the savings bond. Before then, the federal government y held its inaugural Green Bonds Conference themed :“Green Bonds: Investing in Nigeria’s Sustainable Development” to dialogue on adding to the nation’s funding options to catalyse the rebound of the economy and offer the vast majority of Nigerians a new alternative. Speaking at the conference, Vice President Prof. Yemi Osinbajo said the bond would support the federal government’s shift to non-oil base assets for project financing for economic growth and development. According to him, the proceeds of the bond would be used for environmental projects such as renewable energy micro-utilities in three communities estimated at N10 billion and would provide an average of 33KW of power through solar technology. He noted that the environment finance was very important for environmental projects, noting that the Green bond would address climate change and environmental projects to ensure sustainable development. Issuance of the first N20 billion sovereign green bond, which would commence in April 2017, according to Osinbajo, would be used to fund projects to reduce carbon emissions and develop renewable energy in the country, while adding that it would tap into local and international investors. Speaking in the same vein, the then Minister of

Environment, Mrs. Amina Mohammed the Green Bond process was an attempt by the environment sector to contribute to the current efforts to diversify the economy, create jobs, improve security, provide a framework for sustainable development and deliver on the Paris Agreement. She therefore, called on the domestic capital markets to rally round the issuances. “Our domestic market need to rally around our own domestic issuances. The recently issued Euro Bonds are a testament to us that the Nigerian Market is still viable. So, let’s translate that to domestic issuances. Greening our economy and financial systems will in the long run support our sustainability efforts and improve the economy as it will open new avenues for new types of jobs, innovation and skill,” Mohammed said. According to her, the ministry has provided the framework and guidelines, produced as part of the establishing processes essential to ensure that projects funded by green bonds have climate credentials. On his part, the Executive Director, Capital Markets, Haruna Jalo noted that the NSE was committed to environmental sustainability and climate adaption, just as it would facilitate issuers access to ‘deep pool of Green Capital.’ He said that the Nigerian bourse supported the listing and trading of products that fosters innovation and sustainable investing. He added that subscribing to the Green Bond, investors would have the benefits of a balanced risk-adjusted financial return with environmental benefits, satisfied ESG requirements and green investment mandates as well as improved risk assessment in an otherwise opaque fixed income market through use of proceeds reporting, among

other benefits. On the benefits to Issuers, Jalo noted that the green bond would improve diversification of bond issuers investors base, potentially reducing exposure to bond demand fluctuations, enhance Issuers credibility of sustainable strategy, lower bond volatility in secondary market as a result of more ‘buy and hold’ investors for green bond. Bright Future Outlook The future looks brighter for the market in terms of more listings on the NSE. It is no longer a rumor that Africa’s biggest mobile phone operator, MTN is moving closer to listing on the NSE, a move that could help enhance liquidity in the market. If the telco makes good its intention to list, it will further boost investors’ confidence in the market. According to market stakeholders, listing of MTN on the NSE will increase the market capitalisation by about 22 per cent. Recently, Onyema called on the NIPCO Plc to list its shares on the Nigerian bourse. The an indigenous downstream oil and gas company last Friday concluded the acquisition of 60 per cent shares of ExxonMobil in Mobil Oil Nigeria Plc. Onyema explained that listing NIPCO on the Nigerian bourse will enhance its competitive advantage and deepen its access to long-term capital. He said: “Listing NIPCO on the NSE would give more credibility to the company and attract more shareholders to the company, thus enhancing its ability to raise large capital,” he said. He explained that NIPCO as a critical stakeholder needs all the support with various initiatives and opportunities available through the capital market

to enable it excel in the sector. The NSE will support the company with various opportunities to fund their long term objectives. Also the much awaited demutualisation process of the NSE process received a major bolster last week following the approval given by the dealing members of the exchange. The stockbrokers gave the approval at the annual general meeting (EGM), authorising the authorised the council and management of the exchange to proceed with the process leading up to the demutualisation of the exchange. They also approved the engagement of financial advisers, legal advisers, tax advisers and any other adviser that may be required for the demutualisation of the exchange. The dealing members equally authorised the council and management “ to do all such things and exercise all such powers as may be necessary or incidental to achieving the objective specified in I above, subject to applicable laws and regulations and obtaining the approvals of Members and the relevant regulatory authorities.” Speaking after the EGM, the President of the NSE Council, Mr. Aig-Imoukhuede said: ”The approval of the NSE demutualisation plan marks the achievement of an important milestone towards completion of the exercise. The demutualisation of the exchange will bring the Nigerian capital market on a par with other international jurisdictions, result in enhanced governance, transparency and visibility whilst attracting strategic partners, investors and good quality issuers. These are historic times indeed.”

WEDNESDAY, APRIL 5, 2017, Ëž T H I S D AY

BUSINESSWORLD

PERSPECTIVE

Who Is Afraid of Amendment of OGFZ Bill? In this article, Uwem Ankak sheds more light on the designation of Onne, Warri and Calabar Ports as the only points where oil and gas cargoes could be loaded and discharged and the furore over the concession of the ports to Intels Nigeria by the Nigerian Ports Authority On March 7, 2017, the Snake Island Integrated Free Zone (SIFZ), Lagos Deep Offshore Logistics (LADOL), and two other companies published an advertorial in a national newspaper wherein they listed what they termed as flaws in the current attempt by the Nigerian Senate to amend the existing laws covering the administration of the Oil and Gas Free Zone and strengthen its performance. In the advertorial, they tried to undermine the amendment process by insinuating, among other things, that the Bill, when amended, would make the Oil and Gas Free Zones (OGFZA) a monopoly; bring the two separate agencies in the free zones, The OGFZA and Nigeria Export Free Zone Authority (NEPZA) into conflict; and erroneously argued that such amendment would harm the Economic interest of Nigeria. And, in a seeming response, the OGFZA has equally published a rejoinder in some national dailies where they have set the record straight by responding to the issues raised in the March 7 advertorial. In it, the Authority has elucidated on those contentious points and drew the attention of the Nigerian Senate and the entire Nigerians to the anomaly which had existed in the operation of the Oil and Gas Free Zones and the need to streamline them to be more beneficial to the Nigerian Economy. In fact the points were adequately marshalled during the public hearing called by the Senator Abubakar Gobir-led Committee on Trade and Investment where most stakeholders were present and made inputs. For instance, the contentious issue of monopoly which LADOL and co are canvassing is misplaced. The position is that the initial Bill had designated Onne Port, Warri Port and Calabar Ports as the only points where oil and gas cargoes could be loaded and discharged. These are Ports which were concessioned to Intels Nig by Nigerian Ports Authority, and this arrangement is one of the points OGFZA is very opposed to, and it was one of the points in its memoranda to the Senate Committee on Trade and Investment, for the simple reason that it would harm competition, impede the ease of doing business and generally run counter to the ongoing economic reforms of government. It should be noted that other Stakeholders present at the public hearing equally agreed that the provision should be expunged from the Bill. So, by continuing to push the argument of monopoly by Ladol and co, is merely begging the issue. Equally, the Stakeholders led by SIFZ, LADOL are also seeing conflict in the operation of OGFZA and the NEPZA Acts. What they have not told the reading public is that the Acts are also being reviewed by the National Assembly. The point is that the amendment is targeting the strengthening of both Acts to get rid of any imperfections and overlap that were noticed in the operations of the two agencies. For instance, the OGFZA is specifically mandated to regulate the operations of hydrocarbons (oil and gas) while the NEPZA has responsibilities to grow the free zones for non-hydrocarbon businesses for the overall interest of the national economy. The two enabling laws are to be amended to play their roles as effective and efficient agencies of government. On the insinuations that the OGFZA Bill if passed would harm the Economic interest of Nigeria in the Nigeria Ports Authority, NEPZA, Consumer Protection Council, Local Development, etc, the claim cannot withstand serious scrutiny and any business logic, given the changes suggested by the OGFZA and other

Minister of Transport, Rotimi

Amaechi

stakeholders at the public hearing. Even the NPA, the Association of Nigerian Exporters and others all came to the conclusion during the public hearing that amending the laws covering the operations of OGFZA in regulating and managing the oil and gas free zones would attract more investment, create more jobs and generate more revenues to government. It is the belief of most conscientious stakeholders that strengthening OGFZA would more than tripled its records of having created more

Equally, the Stakeholders led by SIFZ, LADOL are also seeing conďŹ‚ict in the operation of OGFZA and the NEPZA Acts. What they have not told the reading public is that the Acts are also being reviewed by the National Assembly

than 200,000 direct and indirect jobs and attracting more than $20 billion in foreign direct investments from inception when the first oil and gas free zone opened for business at the Onne Port in the year 2000. It is clear from the foregoing that the so-called flaws which publishers of the March 7, 2017 advertorial saw in the principal Act establishing the OGFZA are almost the same which the Nigerian Senate is working hard to correct. It is therefore ironical that the same people are the ones who are attacking the same law making organ of government to effect the necessary changes to strengthen the same law they are complaining about. It should be an opportunity for those who are concerned about the flaws in the law to send in their suggestions for correction or make representations to the Senate Committee on Trade and Investment who are handling the amendment. It should equally be known that no law is perfect and subject to review from time to time. The Free Trade Zone is a latter day economic concept which many countries with comparative advantage in certain products and services, have employed to energies trade and investment with the concomitant benefits in creation of massive jobs and huge inflow of capital. These are success stories in countries like United Arab Emirate where Dubai has become the

hub of free trade zone capturing the big businesses in the Middle East and beyond. It is the same in Malaysia, Singapore, China, among many others, where trade incentives and operational fluidity have turned those economies to high scale ones with serious impact on investment and employment opportunities for the citizens. Most important, there is always remarkable transfer of skills to the citizens through manpower training. Nigeria, with unrivalled strategic position in West Africa, considered an ideal location from which to establish a distribution hub to service the oil and gas projects (on-shore and on-shore) throughout sub-Sahara Africa, is at an advantage to reap the bounteous benefit that accrue to it, in terms of Foreign Direct Investment (FDI). So far, the OGFZA has licensed over 200 companies to operate in the zones, including international energy companies representing 45 nationalities. The OGFZA led by its new Managing Director, Obong Umana Okon Umana, a seasoned Economist and administrator, by seeking amendment to the old law which was enacted in 1996, wants to leverage on the benefit of having a vibrant free zone to unleased the economic benefits that accrue to oil and gas free zones. His reforms agenda, captured in the roadmap which has been released by the Authority has provisions to ensure that there is ease of doing business, a tax-free operation, 100% ownership and repatriation of profit and dividend, waivers on pre-shipment inspection of goods, faster clearance of goods and round- the-clock operations. These are lofty reforms initiatives that are capable of bringing vibrancy to the economic activities of the Zones. Of equal importance is the fact that the Bill when amended, rather than impede the smooth operations at the free zones will, from the content of the amendment proposals sent to the National Assembly will correct the flaws that tends to slow the working of the OGFZA. Investors, it should be noted, are at liberty to invest their money where there is the promise of return on investment, and in a system that guarantees the safety of the investment as well as where the tariffs are right, where operations are automated, and where service delivery is fast. And, where the system is not perfected to give them business confidence to invest, there is the risk of their taking their money to a friendlier environment. That is what the amendment to the Act establishing the OGFZA, and the proactive reforms put in place by the new management seek to achieve. It is therefore really inexplicable to begin to situate the divergent views expressed by stakeholders in the effort of the OGFZA and the National Assembly to strengthen the operation of the oil and gas free zones to bring in the massive benefit derivable therefrom. The laughable insinuation that such amendment would impugn on the integrity of the National Assembly or the fact that it will bring the operations of the two sister agencies at loggerheads can only be taken from the prism of the undisclosed intention of its proponents. The complaining stakeholders, some who are nationals of structured business climes cannot, and should not be allowed to continue to dictate to how they want our businesses and more specifically our business regulatory environment be tailored. They should, instead of disrespecting our institutions in trying to bring our businesses up to date, should advice on how to strengthen laws for mutual benefit. Denigrating our National Assembly for trying to amend a law to make institutions of government more responsive to the yearning of the oil and gas sector is, to say the least, very disheartening.

WEDNESDAY, APRIL 5, 2017, ˾ T H I S D AY

BUSINESSWORLD

NEWS

Emefiele’s Support for the Naira is Working In this article, Nathaniel T. Olufemi argues that the recent interventions of the Central Bank of Nigeria governor, Mr. Godwin Emefiele to support the naira are working with impressive results for the economy “The fact that we have done this consistently for almost four to five weeks should tell everybody or those who doubt the strength of central bank to sustain this policy that they are taking a risk and they will lose in this bid to want to place a wrong bet on the direction that we are going.” Mr. Godwin Emefiele, Governor Central Bank of Nigeria The series of bullish interventions in the six weeks by the Central Bank of Nigeria have successfully stamped a significant level of stability in the foreign exchange market after an extended period of volatility. This is commendable work by the leadership of the apex bank. Most deserving of the plaudits is the Central Bank Governor, Mr. Godwin Emefiele who has since the start of the foreign exchange crisis canvassed for a more context-sensitive approach to handling the crisis. He took the right initial steps of putting the country’s interest first and rallying critical stakeholders against the idea of unreservedly accepting the prescriptions of western interest groups and international financial organizations for the full float of the naira. Emefiele’s refusal to go with traditional prescriptions in dealing with the crisis and insistence on applying practical homegrown strategies within the context of our economic peculiarities may not have delivered results as early as many wanted. Yet today the measures are indeed working and the results are not in doubt. Roughly three weeks ago, one dollar exchanged for a whopping N550 in the parallel market. Today, the story has changed significantly. In the past few days the exchange rate has come down by about 12% and now ranges between N370 to N385 to a dollar. This means that on the average, the naira has gained about N165 to the dollar in value. This is impressive. And it is looking as if things might improve even further. What makes this intervention different is that it has not only halted the continued fall in the value of the naira into dangerous territory, but also reversed the negative trend to a positive trajectory of sustained recovery. It marks the end of a painful period of high exchange rates. While it is conceivable that such gains in the recent past were somewhat transient and quickly reversed, there are strong reasons to believe that this time around, the case is going to be different. This may improve even further considering the positive indicators that have so far defined this intervention. To start with, it is noteworthy that the naira is historically having its longest stretch of recovery and gains over the dollar. Besides, the reversals in gains have been marginal, less frequent and they quickly correct. Again, the interventions of the Central Bank have been intense and expansive; targeting commercial banks and Bureau De Changes with consistent supply of forex. The signals from the monetary authority convey a determination to ensure that the welfare gain is a long-term feature. Speaking recently, Governor Emefiele promised that the bank will sustain the liquidity flow and ensure that currency speculators, who bet against the naira, lose money. Specifically, the Central Bank at the start of this campaign had one clear objective: to close the gap between the interbank exchange rate of N375 and the parallel rate that hovered around N550. The significant gains that have been made by the naira against the dollar in the forex market within the span of five weeks show that momentous progress

Emeﬁele

has been made and that things are actually changing for good at so many levels. A notable development in this regard is the remarkable improvement in forex availability and the ease of access by Nigerians especially for purposes of paying tuition, personal travel and

The series of bullish interventions in the past six weeks by the Central Bank of Nigeria have successfully stamped a signiﬁcant level of stability in the foreign exchange market after an extended period of volatility. This is commendable work by the leadership of the apex bank

medical expenses. There is a noticeable policy objective to ensure that the process of getting forex for those purposes by Nigerians is friendly and not a sentence to suffering. This might explain why the CBN now sells forex directly to banks for retail purposes. Commercial banks now have sufficient forex liquidity to treat request by Nigerians. The CBN has also instructed commercial banks to ensure that applications are treated within 24 hours and with credible sanctions in place for noncompliance. These range of measures that the CBN has taken in the interest of ordinary Nigerians deserve commendations. They have brought us great relief. In the past, getting access to forex was a difficult and tiring ordeal. Those who applied for it had to wait in line for about a month or two before their applications could be processed. In addition to that, there were no guarantees of a positive outcome; as the entire process was akin to a gamble. There have been many inauspicious stories of parents who applied for tuition for their wards as well as terrible tales of those that needed forex medical treatment who after a month of waiting were dismissively informed that their bids were not successful. The 24hour deadline for treating applications at the fixed rate of N360 to the dollar is therefore a remarkable and commendable improvement. Besides reducing the financial burden for expenses in dollars for regular Nigerians, the ease of access has also made life a lot easier.

The gradual rise in strength of the naira against the dollar is also a good signal that prices of essential goods and services are likely to come down; a development that will help to alleviate the suffering of ordinary people. This includes prices of imported goods or items that are critical inputs for production of industrial goods and agricultural inputs (such as fertilizer). Similarly they inspire hope that prices of necessities and items consumed by ordinary Nigerians which have more than doubled within this period will soon come down. Some of these essentials include house consumables, toiletries, health products and medicines. While it may be too ambitious to hope for instant reductions in the prices of these in the supermarkets or pharmacies, the trend suggests that in time, inflation rate will decelerate considerably. On another front, the improvements are a strong vindication of Emefiele’s nontraditional style of managing the wide-ranging negative effects of foreign exchange crisis. The campaign for him to toe the traditional route was strong and intense. The pressure came from the organized international investing community, local manufacturers and even members of the Monetary Policy Committee. Yet he stayed true to his convictions and refused to bulge. One, he consistently argued that the demand for forex was being fuelled by speculators and the price was not in fact a true reflection of the value of the naira. Two, he consistently canvassed that allowing a free fall of the currency would hurt the country given the highly import dependent nature of the economy. Three, that there really was no easy option given the lack of sufficient savings and low foreign reserves. Four, that if fiscal policy complements the actions that he is pushing from the monetary front, the situation could be managed without having to allow the naira go on a free fall in order to prevent the likely rise in prices of goods and services. While his efforts may not have achieved all the results hoped for, they have helped a great deal in ameliorating the pain that Nigerians would have experienced. The fact is that without Emefiele’s strategic demand management measures, which include forex restrictions for forty one items and other smart initiatives, the country would have plunged dangerously and faster into recession. The naira would have depreciated faster than it did and its recovery would have been delayed for a longer period. In addition, general prices would have accelerated ensuring that Nigerians endure the ensuing agony for a much longer period. So on the whole, while it may be fair to argue that Emefiele’s strategy may not all that is quixotically desirable, the incontrovertible truth is that it was effective in preventing the degeneration of the crisis to unmanageable levels as we saw in other countries like Venezuela. Overall, the pro-people focus of the CBN’s bullish interventions being championed by Mr. Emefiele is inspiring a new beginning that is good for the economy. Given the current structure of the Nigerian economy, a stronger naira means higher purchasing capacity. Ensuring that the naira remains appropriately priced will help to boost efforts of the government to reflate the economy as it works to get the country out of recession. A stable and predictable foreign exchange market is also good for investment. Mr. Emefiele and his team deserve commendation for finding a workable formula that is moving the naira towards its optimal level. -Olufemi is a public analyst based in Lagos

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EDUCATION Investment in Education brought us Where We Are, Anambra Commissioner In this interview with Peace Obi, the Anambra State Commissioner for Education, Prof. Kate Omenugha said when a government considers education as a key enabler and a catalyst for individual and national development, it propels its investment and commitment towards producing intellectually independent, globally competitive students, fit for the 21st century employment market, among other qualities. Excerpts: What were the major education agenda of the current administration and what mechanism were in place to attain them? Governor Willie Obiano has a clear blueprint which we are running in education. We have a strategic objective that the learning needs of all must be met through equitable distribution of resources and learning of lifelong skills and to ensure that we are one of the three top states with the lowest illiteracy rate. To be able to do that, we take education from three areas; one is infrastructure, which is not just the building but the state of the art equipment in those buildings. Another is teachersâ€™ welfare which involves prompt payment of salaries, incentives for teachers, capacity building and conducive atmosphere for work. We are also committed to studentsâ€™ welfare which involves providing them with conducive environment for learning, capacity building in terms of giving them education that is globally-competitive, exposing them to both national and international competitions. What this means is that no child is to be left behind, that we are running what is called â€˜education for employmentâ€™. It goes further to mean that we are looking at every aspect of the child - the psychomotor, the affective and the cognitive domain. Most importantly, we are looking at quality education, not just education for just passing examinations, but we are talking about value-based education. We offer education that is holistic, education that takes care of both the emotional, physical and spiritual needs of the child. What is the stateâ€™s education budget and how has it fared under the current economic situation of the country? The state has continued to improve its commitment to education. In 2015, our budget for the sector was N3.8 billion and in 2016, it went up to N4 billion. Well, the truth is that the governor seems to be waving some form of magic wand in terms of funding and management of resources. I hope you know that Anambra State is one of the three states that are paying salaries on regular basis. In fact in January 2015, the governor increased secondary school teachersâ€™ salaries by 15 per cent and all other workers. This was when people were thinking of trading the salaries of teachers, we are still increasing salaries. So, in Anambra State, one of our secrets remains prudent management of resources. We are denying ourselves so many things to make sure that we donâ€™t fail in our duties of ensuring we donâ€™t owe anybody any salary whether it is pension or gratuity, all these bills are paid promptly. So, in education, the governor has education very close to his heart. We call education, â€˜a key enablerâ€™ of this administration. We see it as a spring board upon which other pillars will rest on. So, because of that, we need to make education strong because the stronger the enabler is, the stronger the pillars will be. In 2015, Anambra made headlines with its students and teachers winning various awards and competitions, but the ovation does not seem to be as high as it used to be, what is happening? The outstanding performance of our students and their teachers at both national and international competitions has remained a distinguishing mark for the state. We donâ€™t make noise about it, yet the evidence speaks for itself. The state in November last year cleared all the awards, from first to fourth positions at the SP JAIN essay competition that held in Lagos, where over 50 schools from

on board that we got over 700 teachers certified. Government had already made huge investments; it had bought the vouchers for them to take the exams, but nobody pushed it. It was when I came in that I started to push it and teachers went for it and got their Microsoft certification. We also came up with one teacher, one laptop policy which we are still driving, doing a lot of capacity building for them. We also came up with a policy that requires our teachers to be ICT compliant. In fact, in Anambra, you must be ICT compliant for you to be a head teacher or a principal. And that has helped us immensely, because I can now simply send email to my staff, teachers and get responses immediately. That is one legacy we are also leaving behind.

Omenugha

all over Nigeria participated. Maria Regina high School, Nnewi took the first and third positions. Another school, Our Lordâ€™s Foundation School came second. And a student from Archbishop Herey Secondary School, Ogidi came forth. So, the ovation is still there. We are making every effort to ensure that students are writing exams on their own and passing these exams. Early child education has been described as the foundation upon which other segments of education rest on, what is the state doing to promote this important but neglected wing? Anambra State is committed to early childhood education because it is the bedrock of education. All our primary schools have the pre-primary section. That is why when we employ teachers, we employ at least nine or ten in a school because we take cognizance of the nursery section. And we are very concerned that these children receive education at that early age. The growth of a nation is said to be a measure of its commitment to science education, are there some programmes towards encouraging science education in the state? I hope you know that last year again, Science Teacher Association of Nigeria (STAN) had a competition in Anambra and the state came first. It was a national competition and was hosted in Anambra State University. And for some logistic reasons, those students were not able to travel out to represent Nigeria. So, we are doing everything we can to support the STAN especially in the training of our students. This administration will be winding up in a few months, where did you meet education in the state and where are you leaving it? Let me tell you the truth, the greatest legacy we are leaving behind in education is the confidence we have built in our students. I hope you know again that in January 2016, our students went to Singapore in a debate competition and beat the Singaporeans. In fact, one of my students

told me that intelligence is not limited by race or colour. The surprising thing is that the topic was even something you may consider alien to our students, â€œSlum Tourism has Done More Harm than Good.â€? You know the quality of training we give to these students resurfaced at that competition. They beat Chij Katong Convent School, a school that is about 80 years to emerge the winner of that competition. That is Anambra State for you. So, the legacy we are leaving is that we have given our children global competitiveness. We have also proposed, propounded and succeeded in value-based education. November last year, WAEC wrote me a letter commending the state for conducting credible WAEC examination. You know living up to the expectation of WAEC and conducting credible exams. Because we made sure we destroyed miracle centres, we made sure that whatever result out students get, actually belongs to them. This is something that whoever is coming in as commissioner for education will build on and ensure that these crop of students who have gained confidence, that they get to any limit, authoritatively and on their own. And on where I met the sector, there is always something to build on. We employ the principles of continuity. Anambra State has always been doing well in education. A lot of investments have gone into education as well as partnerships with the missions which we have continued to sustain. So, I came in to build on what the previous administration left behind but making it stronger. What are some of the challenges you met on the ground and what has been the major challenge for this administration, education-wise? Some of the major challenges we met on ground was some kind of lackadaisical attitude in areas of ICT, development. Even though the government made a lot of investments in ICT, they were not being used. It was when we came

What would you and your tenure as commissioner for education in Anambra State be remembered for? For all these things I have said. For springing up in teachers the zeal to develop themselves; getting them to be ICT compliant and making them to begin to love to try new grounds. We have our dictum that we say that â€˜nothing is impossible, â€˜we do not accept failureâ€™ and â€˜yes, we canâ€™. Secondly, the value-based education; giving our students confidence, stamping out miracle and magic centres in the state. Just like late Dora Akunyili did when she was trying to fight fake drugs, we have fought to a standstill criminality in education, which is very, very important. So, whatever result Anambra State students get in the next two years, you will see that that is the result they will defend it anywhere. Will you say that Anambra Stateâ€™s standard of education meets international standards? We are doing very well. I must tell you that is exactly what we have done. With quality manpower manning the stateâ€™s education sector, adoption of advanced technology, conducive environment, motivated teachers and many more, I can honestly tell you that we are doing well. It may interest you to know that we are doing our first enterprise/ entrepreneurial fair. You know we committed to giving our students lifelong skills. We are bringing out our students who showcase what they have been able to produce whether it is cosmetology, fishery, animal husbandry, etc. Most importantly, we have revamped all our technical colleges. We have done MoUs with companies like Innoson, hospitality businesses, constructions businesses where we are giving our students hands-on experience. Indeed, World Bank came to look at that of Innoson and they said it is a master piece. In fact, education is a very broad area which we try to touch here and there. It is very important that you understand that giving this children lifelong skills is what we desire so that at the end they will create employment as well as to be employed. Because if you finish school and you are not ICT compliant, no have no skill at all, I mean that is a very big minus. Igbo Language is said to be gradually going extinct, what is your ministry doing to ensure that this does not become a reality? Well, we have a policy that nobody says Igbo Language is abolished in our schools. It remains a subject in our schools and more importantly, every Wednesday now, we wear our traditional dresses to school and everybody speaks Igbo that day. We are trying to change the psyche of our children so that they will begin to know and be proud to be â€˜Ndi Igboâ€™.

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EDUCATION

â€˜Poor Interface with Industries on Research, Bane of Nigerian Varsitiesâ€™ Adibe Emenyonu in Benin City Besides poor funding as a factor militating against the general wellbeing of academics in Nigerian universities, the disconnection between teaching and application of what is being taught has been identified as another setback. Another factor is lack of interface between universities and industries in the country, as industries are said to prefer buying patent overseas instead of engaging universities for research. The Vice-Chancellor, Ambrose Alli University (AAU), Ekpoma, Professor Ignatius Onimawo, who stated this in an interac-

tive session with journalists, said comparatively, a visit to some foreign universities and the kind of equipment and infrastructure they have will in no way match what obtains in Nigerian universities. â€œI happened to be privileged to visit some universities in Canada and when I got to their engineering faculties, the kinds of equipment I saw there even manufacturing industries in Nigeria donâ€™t have such equipment and I was forced to ask, was it sponsored by the Canadian government? And the answer was no that it was sponsored by the industries which also provide the equipment.â€? He explained that what is obtained is that the universities

interface with industries; the industries articulate their needs and supply the equipment, while the universities conduct the research. â€œThat is what our society is supposed to do which is part of training for our students. They are supposed to go to the industries and come back with their reports and the industries are supposed to come back to the universities and say okay, your students were with us and this are the areas we need research. â€œBut our industries will never do that. They rather go and buy a patent from outside and come here either to assemble or produce what has already been

formulated from somewhere. Our industries are disconnected from the universities. Even government, when they have problems refused to consult universities on specific areas. For instance, the VC cited the Ebola issue when a private institution, Covenant University carried out a lot of research during that outbreak in Nigeria that earned it a prize as a private university which helped in solving the treatment of Ebola disease. â€œWhen there is a problem; government is supposed to commission universities. â€˜You have a Faculty of Medical Sciences, Faculty of Basic Medical Sciences that deals with this

health problems. Research into it and this is the money. They donâ€™t do that but the Canadian government does that. They have a problem to solve; they will commission a particular university that has that kind of manpower; that kind of faculty which helps government to solve health problems. They look at proposals and feasibility studies then put more money and they give you deadline and they deliver. We donâ€™t have that kind of thing.â€? Onimawo added: â€œHow do you expect our university which gets only subventions for salaries? Where is the subvention for research? Where is the information for research?

Where is the subvention for equipment? The equipment they used in training me in 1982 in University of Ibadan is the same equipment you want them to use in training somebody in 2017, it doesnâ€™t work that way.â€? He however expressed delight that the Tertiary Education Trust Fund (TETFund) has come to the rescue of higher institutions to renew some of their equipment, adding that it is not as if students from Nigerian universities cannot do well, but they are hampered by poor learning environment and disconnection between teaching and application of what is being taught.

Anwukah Harps on Data for Quality Education Delivery The Minister of State for Education, Prof. Anthony Anwukah, has described reliable and valid data as key to the delivery of qualitative and functional education. The minister stated this at the opening ceremony of the national conference on Education Management Information System (EMIS) held in Owerri, Imo State recently. He said the theme of the conference, â€˜Making Every Child Countâ€™ was apt and succinct, giving the importance of data for effective planning purpose, adding that data can add value to policy formulation and execution. According to him, the education sector within the last two decades has faced numerous challenges, ranging from large number of out-of-school children to weak governance, saying that

reliable data collection is key activity towards closing the gap created by these challenges. He stated that the challenges in the education sector that often result in the development of human capital that are neither self-reliant nor relevant to market needs necessitated the maiden conference on EMIS. â€œWe are gathered here specifically for this fist national conference on EMIS that sets the stage for working out modalities, strategies and procedures for making every child count in our education sector, as well as strengthening data collection.â€? The minister noted that Nigeria is facing severe data paucity at national and international platforms and urged all stakeholders and partners to strive to reverse the trend by synergising in the development of an efficient .

NEW BEGINNING

L-R- The Pro-Chancellor, Elizade University, Mr. Aigboje Aig-Imoukhuede; the acting Vice-Chancellor, Prof. Theophilus Oyeyemi, founder, Chief Michael Ade-Ojo; and the Chancellor-designate, Mr. Gbenga Oyebode, at the unveiling of the new logo of the institution in Lagosâ€Ś recently

Elizade Varsity Restates Commitment to Grooming 21st Century Youths Uchechukwu Nnaike The management of Elizade University, Ondo State has stressed that developing and mentoring youths in entrepreneurship consistently, especially students in tertiary institutions, is critical for Nigeria to achieve true greatness, just as it restated its commitment to grooming students that will be relevant in the 21st century. Speaking during the unveiling of a new logo for the university in Lagos recently, the Proprietor, Chief Michael

Ade-Ojo, explained that the new logo is a step towards actualising his vision of creating a world-class institution, dedicated to the pursuit of academic and moral excellence. â€œWe are unveiling this new identity to herald a new dawn in the life of our great institution established for the growth of knowledge, character as well as the total development of mankind. The new identity reflects the resolve of the university to breed young men and women who will break new grounds in all areas of human endeavours

in accordance with global best practices.â€? He thanked the National Universities Commission (NUC) for its support in the approval process of the new logo. The Pro-Chancellor, Aigboje Aig-Imoukhuede, said the university needed a logo that will make it stand out as a world class university in Nigeria. Apart from the logo, he said the institution would also ensure that the curriculum and other things are designed to produce people that will stand out in the world; men

and women that would excel positively in different fields of endeavor. On the importance of building entrepreneurial spirit youths, he lauded the business instinct of two members of the graduating set, especially Gift Silas who runs a thriving boutique. Aig-Imoukhuede announced that the university council would soon launch an endowment fund and two new scholarship schemes. He said the scholarship would be for the winners of the founderâ€™s

golf challenge and the ProChancellorâ€™s fitness challenge, adding that two students, male and female, will get the star prizes for each activity when it is formally unveiled. In his remarks, the acting Vice-Chancellor, Prof. Theophilus Fadayomi, traced the universityâ€™s records from 2013, when it started with 13 programmes till date with a total of 31 fully accredited academic programmes. He said student enrolment has grown from 64 in 2013 to a total of

1,144 this year. Fadayomi said the beauty of the university lies in its location at the luscious hills of Ilara-Mokan, Ondo State; the state-of-the- art facilities for educational, physical and mental development; and its high calibre teaching and nonteaching staff who employ ICT in diverse areas. Two outgoing students of the university, Iyanu Oluyade and Gift Silas also relieved their experience at the institution and how it made positive impact in their lives.

VC Seeks Inclusion of Private Varsities as TETFund BeneďŹ ciaries Christopher Isiguzo in Enugu The Vice-Chancellor of an Enugu-based private university, the Renaissance University, Ugbawka, Prof. Charles Onochie, has called on the federal government to approve the inclusion of private universities in the disbursements of the

Tertiary Education Trust Fund (TETFund) to reduce the high fees in these universities. Onochie argued that making the special education intervention fund available to only public universities is not proper and does not help the growth of the countryâ€™s tertiary education system. â€œWhereas graduates

produced from public and private universities feed the labour needs of the nation and the world at large, only the public universities get funding from the tax payers funds via channels like TETFund.â€? The don, who spoke during the maiden combined convocation ceremonies of the

institution, said the development had been responsible for the high fees in private universities and appealed to relevant authorities to address the issue. He said because private universities â€œhave continued to supplement the efforts of the federal and state governments to provide

tertiary education for Nigerian youths who are seeking university admissions, it is also pertinent that private and public universities are partners in progress, they are not rivals. Rather, they serve to train future workforce and leaders, advance research that will promote growth and technological advancement

in the country.â€? The vice-chancellor, who urged the graduands to be good ambassadors of their alma matter and country, said â€œthe nation and world are at your feet to explore and exploit, go and make us proud.â€? A total of 18 graduates from various departments made first class.

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Minister Seeks Increased Enrolment into FG Colleges The Minister of Education, Mallam Adamu Adamu has called on Bauchi State government to ensure increased enrolment of students into federal government colleges. Adamu, who was represented by a Deputy Director, Unity Schools, Federal Ministry of Education, Mr. Omale Otete Frank on an advocacy and sensitisation visit to Bauchi State Ministry of Education, said the visit was for northern candidatesâ€™ enrolment drive into the National Common Entrance Examinations (NCEE) in the country. He regretted that the enrolment rate in

most northern states is low and solicited the support of the state government and all stakeholders in this yearâ€™s examination coming up on April 8. The minister pointed out that secondary education is critical in the development of every nation, as it prepares the individual to acquire some basic skills for higher education. Thus he said the federal government established unity colleges to serve as a reference point for academic excellence. The delegation that was in Bauchi for advocacy and sensitisation to states with low enrolment drive over the

years, called on the state ministry of education to take the advocacy to the grassroots level. Receiving the visitors on behalf of the Commissioner for Education, Nuhu Gidado, the Permanent Secretary in the ministry, Alhaji Nasiru Mohammed Yelwa, thanked the delegation for the visit and promised to intimate the commissioner with a view of taking steps to increase enrolment in the state. He said the ministry would soon appoint a desk officer to coordinate all activities regarding the entrance examination for the state.

GIVING BACK

L-R: The Deputy Vice-Chancellor, Development Services, University of Lagos, Prof. Folasade Ogunsola; Dr. Adewale Ayuba and his wife; and the Chairman, UNILAG Alumni, Lagos branch, Dr. Lukumon Adeoti, during Ayubaâ€™s visit to the universityâ€Ś recently

Winner ofYoung Debaters in Nigeria Emerges Mary Ekah A senior secondary three (SS3) student of Holy Child College, Lagos, Adetola Ajayi, 16, has emerged winner of the maiden edition of the Younger Debaters in Nigeria competition and will be representing Nigeria at the International Public Speaking Competition (IPSC) in London. Organised by Young Educators Foundation, the competition, which made a debut in Nigeria, has held for eight seasons in Ghana and the organisers have, over the years, been sending participants to take part in the IPSC in London, UK since 2000. The grand finale, which held recently at the Standard Bearers Schools, Lekki, featured students from various schools in Lagos. The Programme Director, Mr. Akinleye Olu-Philips, explained that Young Debaters â€œis a public speaking competition that inculcates the basic imperative of effective

communication, ultimately impacting improved leadership skills, development of poise and accurate word usage. â€œIt allows students to develop their critical thinking and communication skills through the unique method of orators choosing their own topic, which is related to an overall theme.â€? He said the competition was conceived to fully develop the potential in leaders for today and tomorrow in an unconventional manner through competition and bonding. â€œDebate is one of the best tools to develop oratory and speaking skills in our students, giving them the confidence to express themselves effectively and to boldly impress and convince the listeners.â€? While thanking the Director of the host school, Mrs. Modupe Adeyinka-Oni, whose encouragement stimulated the execution of the pilot edition in Nigeria, Olu-Philips, said if more school owners and educators can work together with his organisation, it would organise more effective co-curricular

activities that will help the all-round development of studentsâ€™ personalities. Commending the organisers for the initiative, Adeyinka-Oni said: â€œThere are so many career opportunities that are not necessarily academic opportunities but by not being able to engage by communicating well, it is in a sense costing the country something valuable. â€œEverybody thinks that university education is the way to go, but there is so much in the way of entrepreneurship and so we have to help them go through events like this to become very outspoken and thereby bring out that hidden talent in them.â€? She urged the students to believe in themselves, advising that the most important thing they need to bring to the table is the willingness to learn and work hard to achieve their goals. â€œThey should be motivated to do more, in spite of whatever odds they might be faced with.â€?

Logophile Spelling Contest Produces Winners Funmi Ogundare Winners have emerged at the second edition of Logophile spelling bee competition, designed to enhance pupilsâ€™ learning and spelling skills. The competition held recently at the Kids Court School, Surulere, Lagos with about 11 participating schools across Lagos and produced winners in grades one to three categories. They received medals, certificates and trophies. In her remarks, the Proprietress of the school, Mrs. Bimbo Ogundere, said the competition will help the children considerably in learning new words and also make their communication easier.

â€œFor instance, when a teacher says something to you and you know what it means that will help. It also brings about a healthy competitiveness among them and the confidence they will have for coming to stand in front of people to spell; that I think is immeasurable.â€? Ogundere, who is also the founder of the spelling bee, expressed delight that some of her pupils won in the competition. â€œWe have been practicing and they have a sense of pride towards being successful at this. So they were rehearsing at home individually and they know that there is something that they needed to achieve even among the 11 schools that participated across Lagos.â€?

Asked why her school decided to organise the competition now, she said: â€œIt is the middle of the session so everybody is a bit relaxed and the children are more settled with their grades. Secondly, this term is usually not so hectic,â€? She stressed the need for school owners to do more and bring up initiatives that would move the school system forward and also collaborate with the government or other school owners. The proprietress advised the winners to keep up the hard work, remain studious and focused, achieving and striving, saying that the sky will be the starting point for them.

You NeedYour Eyes for a Long Time Shade Up Classily but Sensibly 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 signiďŹ cant 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 aďŹ„uence) can intoxicate both young and old. Sadly some ill-informed children, who sense, feel or know that their parents have the wherend 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 aďŹ„uent 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 aďŹ€ord 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 Bukkyâ€™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 peopleâ€™s approvals which may assume legality when a group or friends laugh or clap along to the derogatory joke. Omoru writes from the UK

Dufil Rewards Schools, Winners ofYLNO Promo A Lagos-based private school, Our Lady of Mount Camel, was recently presented with a school bus, while many other schools and individuals won prizes like power generating sets; music instruments; photocopying machines; public address systems, Indomie Bukas, among others in the Indomie â€˜You Like No Otherâ€™ (YLNO) promotion. The promo, designed to appreciate uniqueness and hard-work saw millions of consumers and schools sending Indomie wrapper entries in a bid to win prizes. Our Lady of Mount Camel sent the highest entry of 1,550 cut Indomie â€˜You Like No Otherâ€™ caricatures, followed The closest to Mount Camel School was by Saint Joseph School with 595 caricature cut-outs. Speaking at the presentation of prizes to winners in Lagos recently, the Marketing Manager, Indomie, Girish Sharma said the

presentation was to officially close the Indomie YLNO promotion, adding that over 10,000 schools and 330,000 individuals were rewarded, as the brand was keen on fulfilling every promise made to consumers. He said the promo was the companyâ€™s way of rewarding Nigerian consumers and taking some stress off them in this current tough time, adding that the prizes range from a carton of Indomie to a school bus, depending on the number of Also speaking, the Group Public Relations and Events Manager, Mr. Tope Ashiwaju said the promo was a way of celebrating the uniqueness in consumers of all walks of life. â€œHow unique you become is a function of your exclusivity and effort. Unique taste cannot be replicated easily which is why Indomie remains the market standard for noodles.

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UNIZIK Business School to Tackle Budget Issues

RUNNING THE CLASSROOM

CHIOMA ERUOTOR

Come April 5 2017, the Nnamdi Azikiwe University Business School, Gifted Hands (UBS) will hold a roundtable discussion to tackle problems associated ËŤ Ă—Ă‹Ă˜ËŞĂ? Ă‘Ă“Ę° Ă—Ă‹Ă•Ă?ĂžĂ’ ĂœĂ™Ă™Ă— Ă?Ă™Ăœ Ă’Ă“Ă— Ă‹Ă˜ĂŽ ĂŒĂœĂ“Ă˜Ă‘Ă?ĂžĂ’ Ă’Ă“Ă— ĂŒĂ?Ă?Ă™ĂœĂ? Ă‘ĂœĂ?Ă‹Ăž Ă—Ă?Ă˜ËŹ ĂœĂ™Ă Ă?ĂœĂŒĂ? ÍŻÍśË?ÍŻÍ´Ë› ËŤ Ă?Ă‹Ă–ĂžĂ’ ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž Ă?Ă™Ă—Ă? Ă?ĂœĂ™Ă— ĂŁĂ™Ă&#x;Ăœ Ă”Ă™ĂŒËž Ă“Ăž Ă?Ă™Ă—Ă?Ă? with budgets in Nigeria, David-Chyddy Eleke reports Ă?ĂœĂ™Ă— ĂŁĂ™Ă&#x;Ăœ ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă‘Ă“Ę°Ă“Ă˜Ă‘Ë›ËŹ Ă™ Ă•Ă˜Ă™ĂĄ ĂžĂ’Ă? ĂœĂ“Ă‘Ă’Ăž ĂšĂ–Ă‹Ă?Ă?Ă? Ă?Ă™Ăœ ĂšĂ?Ă™ĂšĂ–Ă?Ëœ ĂĄĂ? The UNIZIK Business School (UBS), a new school under Nnamdi Azikiwe University, Awka recently disclosed its plan to end problems associated with the preparation and implementation of budgets in Nigeria through its budget roundtable. The Director of the school, Prof. Au Nonyelu, who stated this while briefing journalists, said experts on budget issues have been contacted for the maiden edition of the annual event. He said the school planned the event having critically viewed the problems and controversies associated with the preparation and the implementation of budget in most component states of Nigeria and the country itself, which in most cases have pitched the legislature against the executives. He explained that the roundtable will afford politicians and leaders of all cadres the opportunity to attend and learn

from seasoned administrators put together by the institution so as to avoid the pitfalls associated with budget preparation and implementation. Nonyelu added that as it stands, only few states have ever been able to implement 50 per cent of their budgets, just as the hassles usually witnessed during the stage of passing the budget have remained another cause for concern. It is pertinent to note that despite the stiff opposition the APC had presented against the outgone PDP government with a promise of better days through thorough implementation of the budget, the Buhari administration is yet to sign the 2017 budget into law. These and many other challenges Nonyelu said would be tackled in the roundtable as the contribution of the school to the development of leadership process in Nigeria. â€œDr. Emmanuel Egbogah, an internationally acclaimed petroleum engineer has endowed

this budget roundtable and will support it in perpetuity. The inaugural roundtable will hold on April 5, 2017, at the University Auditorium. All the governors of south eastern states are expected to be in attendance as special guests of honour. The guest speaker is Prof. Pat Utomi, while the Deputy Governor of Anambra State, Dr. Nkem Okeke, will chair the occasion. Hon. Chris Azubogu, Deputy Chairman Appropriation Committee, Federal House of Representatives will present the keynote address. Discussants include Prof. Osita Ogbu, former Chief Economic Adviser; Prof. Ben Osisioma, doyen of accountancy; and Dr. Okey Ikechukwu, Adjunct Senior Fellow, UNIZIK Business School.â€? He said the school is committed to unraveling issues associated with budget and hopes to provide the roadmap that will direct and reorient the entire mechanisms and processes

involved in budget development and implementation. â€œPursuant to this, the school will hold the annual budget roundtable in March every year where eminent persons and discussants from within and outside Nigeria are invited to interrogate all budget issues as they affect ministries, departments, agencies and Nigerian people. This will serve as the schoolâ€™s modest contribution to national discourse, and will help strengthen budget process, avoid the pitfalls of budget padding and insertion as was recently the case in Nigeria.â€? Speaking on the standard of the school, Nonyelu said it has been in existence under the social sciences, but there was need for it to operate more professionally to help business executives around the south east to harness their businesses and also impart leadership knowledge on its students at an affordable rate.

Ă—Ă&#x;Ă?Ăž Ă•Ă˜Ă™ĂĄ ĂžĂ’Ă?Ă“Ăœ Ă‹ĂœĂ?Ă‹Ă? Ă™Ă? Ă‘Ă“Ę°Ă“Ă˜Ă‘Ë›ËŹ ĂŁĂ–Ă?Ă? Ă™Ă˜ĂœĂ™Ă?Ë› ËŤ Ă’Ă? Ă—Ă?Ă‹Ă˜Ă“Ă˜Ă‘ Ă™Ă? Ă–Ă“Ă?Ă? Ă“Ă? ĂžĂ™ Ę¨Ă˜ĂŽ ĂŁĂ™Ă&#x;Ăœ Ă‘Ă“Ę°Ëž ĂžĂ’Ă? ĂšĂ&#x;ĂœĂšĂ™Ă?Ă? Ă™Ă? Ă–Ă“Ă?Ă? Ă“Ă? ĂžĂ™ Ă‘Ă“Ă Ă? Ă“Ăž Ă‹ĂĄĂ‹ĂŁË›ËŹ Ă“Ă–Ă–Ă“Ă‹Ă— Ă’Ă‹Ă•Ă?Ă?ĂšĂ?Ă‹ĂœĂ?Ë› ËŤ Ă™Ă&#x;Ăœ ĂžĂ‹Ă–Ă?Ă˜Ăž Ă“Ă? Ă™ĂŽËŞĂ? Ă‘Ă“Ę° ĂžĂ™ ĂŁĂ™Ă&#x;Ë› Ă’Ă‹Ăž ĂŁĂ™Ă&#x; ĂŽĂ™ ĂĄĂ“ĂžĂ’ Ă“Ăž Ă“Ă? ĂŁĂ™Ă&#x;Ăœ Ă‘Ă“Ę° ĂŒĂ‹Ă?Ă• ĂžĂ™ Ă™ĂŽË›ËŹ Ă?Ă™ Ă‹Ă?Ă?Ă‹Ă‘Ă–Ă“Ă‹Ë› Ă Ă?ĂœĂŁ Ă—Ă‹Ă˜ Ă“Ă? Ă‘Ă“Ę°Ă?ĂŽ Ă?Ă™Ăœ Ă?Ă™Ă—Ă?ĂžĂ’Ă“Ă˜Ă‘Ë› ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ ĂĄĂ“Ă–Ă– Ă˜Ă?Ă Ă?Ăœ Ă—Ă‹Ă•Ă? ĂŁĂ™Ă&#x; ĂĄĂ?Ă‹Ă–ĂžĂ’ĂŁËž Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ ĂĄĂ“Ă–Ă– Ă™Ă˜Ă–ĂŁ Ă‘Ă“Ă Ă? ĂŁĂ™Ă&#x; Ă‹ ĂšĂ–Ă‹ĂžĂ?Ă™ĂœĂ— ĂžĂ™ Ă?Ă˘ĂšĂœĂ?Ă?Ă? ĂŁĂ™Ă&#x;Ăœ Ă‘Ă“Ę°Ë› Ă’Ă“Ă–Ă? Ă—Ă‹Ă˜ĂŁ Ă‹ĂœĂ? Ă?Ă™ Ă?Ă‹Ă—Ă“Ă–Ă“Ă‹Ăœ ĂĄĂ“ĂžĂ’ ĂžĂ’Ă? Ă?Ă‹Ă?Ă?Ă? ĂžĂ’Ă‹Ăž Ă‹ĂšĂšĂ?Ă‹Ăœ Ă™Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă?Ă&#x;ĂœĂœĂ?Ă˜Ă?ĂŁ Ă˜Ă™ĂžĂ?Ă?Ëœ Ă‹ Ă–Ă™Ăž Ă—Ă‹ĂŁ Ă?ĂžĂ“Ă–Ă– Ă˜Ă™Ăž Ă˜Ă™ĂžĂ“Ă?Ă? ĂžĂ’Ă‹Ăž Ă™Ă? ĂžĂ’Ă? Ă?Ă˜ĂžĂ“ĂœĂ? Ă˜Ă™ĂžĂ?Ă? Ă™Ă˜Ă–ĂŁ Ă™Ă˜Ă? Ă’Ă‹Ă? ĂžĂ’Ă? Ă?Ă‹Ă?Ă? Ă™Ă? ĂĄĂ™Ă—Ă‹Ă˜Ëœ Ă‹ĂŽĂ“ ĂĄĂ‹Ă–Ă“Ëœ ĂĄĂ’Ă™ Ă‘Ă™Ăž ĂœĂ?Ă?Ă™Ă‘Ă˜Ă“ĂžĂ“Ă™Ă˜ Ă‹Ă? Ă‹ ĂœĂ?Ă?Ă&#x;Ă–Ăž Ă™Ă? Ă’Ă?Ăœ Ă‘Ă“Ę°Ă?ĂŽ Ă’Ă‹Ă˜ĂŽĂ?Ë› Ă’Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă˜Ă‹Ă“ĂœĂ‹ Ă˜Ă™ĂžĂ? Ă’Ă‹Ă? Ă‹Ă–ĂĄĂ‹ĂŁĂ? ĂŒĂ?Ă?Ă˜ ĂŽĂ?Ă?Ă™ĂœĂ‹ĂžĂ?ĂŽ ĂĄĂ“ĂžĂ’ ĂžĂ’Ă? Ă?Ă‹Ă?Ă?Ă? Ă™Ă? ĂšĂ‹Ă?Ăž Ă’Ă?ĂœĂ™Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ă™ĂœĂ—Ă?Ăœ ĂšĂœĂ?Ă?Ă“ĂŽĂ?Ă˜ĂžĂ? Ă˜Ă™ĂŒĂ™ĂŽĂŁ Ă?Ă Ă?Ăœ ĂžĂ’Ă™Ă&#x;Ă‘Ă’Ăž ĂžĂ’Ă‹Ăž Ă‹ Ă Ă“Ă–Ă–Ă‹Ă‘Ă? ĂĄĂ™Ă—Ă‹Ă˜Ëœ ËŤĂ‹ĂœĂ—Ă?ĂŽ Ă™Ă˜Ă–ĂŁ ĂĄĂ“ĂžĂ’ Ă‹ Ă?ĂšĂ?Ă?Ă“Ă‹Ă– Ă‘Ă“Ę° Ă?Ă™Ăœ ĂšĂ™ĘľĂ?ĂœĂŁ ĂĄĂ™Ă&#x;Ă–ĂŽ Ę¨Ă˜ĂŽ Ă‹ ĂšĂ–Ă‹Ă?Ă? ĂĄĂ’Ă?ĂœĂ? Ă™Ă˜Ă–ĂŁ Ă•Ă“Ă˜Ă‘Ă? ĂŽĂĄĂ?Ă–Ă–Ë› Ă‹ĂŽĂ“ ĂĄĂ‹Ă–Ă“ Ă“Ă? ĂžĂ’Ă? Ę¨ĂœĂ?Ăž Ă‹Ă˜ĂŽ Ă™Ă˜Ă–ĂŁ ĂĄĂ™Ă—Ă‹Ă˜ ĂžĂ™ Ă‹ĂšĂšĂ?Ă‹Ăœ Ă“Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă?Ă&#x;ĂœĂœĂ?Ă˜Ă?ĂŁË? Ă’Ă?Ăœ ĂšĂ™ĂœĂžĂœĂ‹Ă“Ăž Ă“Ă? Ă™Ă˜ ĂžĂ’Ă? ĂŒĂ‹Ă?Ă• Ă™Ă? ĂžĂ’Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Í°ÍŽ Ă˜Ă‹Ă“ĂœĂ‹ Ă˜Ă™ĂžĂ?Ë› Ă’Ă? ĂĄĂ‹Ă? ĂŒĂ™ĂœĂ˜ Ă“Ă˜ĂžĂ™ Ă‹ Ă Ă“Ă–Ă–Ă‹Ă‘Ă? ĂĄĂ’Ă?ĂœĂ? ĂšĂ™ĘľĂ?ĂœĂŁ ĂĄĂ‹Ă? Ă‹ Ă?Ă™Ă—Ă—Ă™Ă˜ Ă™Ă?Ă?Ă&#x;ĂšĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă—Ă™Ă˜Ă‘ ĂĄĂ™Ă—Ă?Ă˜Ëœ Ă?ĂœĂ™Ă— ĂĄĂ‹Ă–Ă“ Ă“Ă˜ ĂžĂ’Ă? ĂĄĂ‹ĂœĂ“ ĂœĂ?Ă‘Ă“Ă™Ă˜ Ă™Ă? Ă˜Ă™ĂœĂžĂ’Ă?ĂœĂ˜ Ă“Ă‘Ă?ĂœĂ“Ă‹Ë›

ĂĄĂ‹Ă–Ă“ ĂŽĂ“ĂŽĂ˜ËŞĂž Ă™Ă˜Ă–ĂŁ Ă?Ă?Ă? ĂšĂ™ĘľĂ?ĂœĂŁ Ă‹Ă? Ă‹ Ă?Ă‹Ă?Ă&#x;Ă‹Ă– Ă™Ă?Ă?Ă&#x;ĂšĂ‹ĂžĂ“Ă™Ă˜Ëœ ĂŒĂ&#x;Ăž Ă‹ Ă?Ă‹Ă?ĂœĂ?ĂŽ Ă‹Ă˜ĂŽ Ă?ĂšĂ?Ă?Ă“Ă‹Ă– Ă‘Ă“Ę° ĂžĂ’Ă‹Ăž ĂĄĂ‹Ă? Ă—Ă?Ă‹Ă˜Ăž ĂžĂ™ Ă“Ă—ĂšĂ‹Ă?Ăž ĂžĂ’Ă? ĂĄĂ™ĂœĂ–ĂŽË› Ă?Ăœ ĂšĂ™ĂžĂ? ĂĄĂ?ĂœĂ? Ă˜Ă™ĂžĂ?ĂŽ Ă?Ă™Ăœ ĂžĂ’Ă?Ă“Ăœ ĂŒĂ?Ă‹Ă&#x;ĂžĂŁ Ă™Ă? Ă?Ă™ĂœĂ— Ă‹Ă˜ĂŽ ĂŽĂ?Ă?Ă™ĂœĂ‹ĂžĂ“Ă™Ă˜Ë› Ă’Ă? Ă“Ă—ĂšĂ‹Ă?Ăž Ă™Ă? Ă’Ă?Ăœ Ă‘Ă“Ę° ĂŒĂ?Ă?Ă‹Ă—Ă? ĂĄĂ“ĂŽĂ?Ă?ĂšĂœĂ?Ă‹ĂŽ Ă‹Ă˜ĂŽ ĂœĂ?Ă‹Ă?Ă’Ă?ĂŽ ĂžĂ’Ă? Ă•Ă“Ă˜Ă‘ËŞĂ? ĂšĂ‹Ă–Ă‹Ă?Ă?Ë› ĂĄĂ‹Ă–Ă“ ĂžĂ™Ă™Ă• Ă’Ă?Ăœ ĂžĂ“Ă—Ă? Ă“Ă˜ Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă’Ă?Ăœ ĂŽĂ?Ă?Ă“Ă‘Ă˜ Ă‹Ă˜ĂŽ ĂžĂ’Ă?ĂŁ Ă?ĂžĂ™Ă™ĂŽ Ă™Ă&#x;Ăž ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă™Ă? ĂžĂ’Ă?Ă“Ăœ ĂŒĂ?Ă‹Ă&#x;ĂžĂŁ Ă?Ă’Ă‹ĂœĂ—Ë› Ă’Ă? Ă?Ă—Ă“Ăœ Ă™Ă? ĂŒĂ&#x;Ă”Ă‹ Ă‹Ăž ĂžĂ’Ă? ĂžĂ“Ă—Ă? ĂĄĂ‹Ă? Ă?Ă™ Ă?Ă˜Ă?Ă’Ă‹Ă˜ĂžĂ?ĂŽ ĂŒĂŁ Ă’Ă?Ăœ ĂĄĂ™ĂœĂ• ĂžĂ’Ă‹Ăž Ă’Ă? ĂŒĂ™Ă&#x;Ă‘Ă’Ăž Ă—Ă‹Ă˜ Ă™Ă? Ă’Ă?Ăœ ĂšĂ“Ă?Ă?Ă?Ă? Ă?Ă™Ăœ Ă’Ă“Ă? Ă?Ă™Ă–Ă–Ă?Ă?ĂžĂ“Ă™Ă˜Ë› Ă™Ă—Ă? Ă™Ă? ĂžĂ’Ă™Ă?Ă? Ă‹Ă?Ă›Ă&#x;Ă“ĂœĂ?ĂŽ ĂŒĂŁ ĂžĂ’Ă? Ă?Ă—Ă“Ăœ ĂĄĂ?ĂœĂ? Ă?Ă?Ă?Ă˜ ĂŒĂŁ Ă“Ă?Ă’Ă‹Ă?Ă– Ă‹ĂœĂŽĂ?ĂĄ Ă“Ă˜ ÍŻÍˇÍłÍŽË› Ă’ĂœĂ™Ă&#x;Ă‘Ă’ ĂĄĂ‹Ă–Ă“ËŞĂ? Ă?Ă™Ă˜ĂžĂ‹Ă?Ăž ĂĄĂ“ĂžĂ’ Ă‹ĂœĂŽĂ?ĂĄËœ Ă?Ă’Ă? Ă‹Ă˜ĂŽ Ă’Ă?Ăœ ĂĄĂ™ĂœĂ• ĂŒĂ?Ă?Ă‹Ă—Ă? Ă•Ă˜Ă™ĂĄĂ˜ Ă“Ă˜ Ă&#x;ĂœĂ™ĂšĂ? Ă‹Ă˜ĂŽ Ă—Ă?ĂœĂ“Ă?Ă‹Ë› Ă’Ă? ĂŒĂ?Ă?Ă‹Ă—Ă? Ă•Ă˜Ă™ĂĄĂ˜ Ă“Ă˜ Ă—Ă™Ă?Ăž Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă™Ă? ĂžĂ’Ă? ĂœĂ“ĂžĂ“Ă?Ă’ Ă—ĂšĂ“ĂœĂ? Ă‹Ă˜ĂŽ Ă?Ă’Ă? ĂĄĂ‹Ă? Ă—Ă‹ĂŽĂ? Ă‹ Ă—Ă?Ă—ĂŒĂ?Ăœ Ă™Ă? ĂžĂ’Ă? Ă—Ă™Ă?Ăž Ă?Ă˘Ă?Ă?Ă–Ă–Ă?Ă˜Ăž Ă™ĂœĂŽĂ?Ăœ Ă™Ă? ĂžĂ’Ă? ĂœĂ“ĂžĂ“Ă?Ă’ Ă—ĂšĂ“ĂœĂ? Ě™ Ěš Ă“Ă˜ ÍŻÍˇÍ´ÍąËœ Ă?Ă’Ă? ĂĄĂ‹Ă? Ă‹ĂĄĂ‹ĂœĂŽĂ?ĂŽ Ă‹Ă˜ Ă’Ă™Ă˜Ă™ĂœĂ‹ĂœĂŁ ĂŽĂ?Ă‘ĂœĂ?Ă? ĂŒĂŁ Ă’Ă—Ă‹ĂŽĂ&#x; Ă?Ă–Ă–Ă™ Ă˜Ă“Ă Ă?ĂœĂ?Ă“ĂžĂŁ Ă“Ă˜ ÍŻÍˇÍľÍľË› Ă?Ăœ ĂšĂ™ĘľĂ?ĂœĂŁ ĂĄĂ‹Ă? Ă‹Ă–Ă?Ă™ ĂŽĂ“Ă?ĂšĂ–Ă‹ĂŁĂ?ĂŽ ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? Ă“Ă˜ĂŽĂ?ĂšĂ?Ă˜ĂŽĂ?Ă˜Ă?Ă? Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ“Ă™Ă˜ Ă“Ă˜ ÍŻÍˇÍ´ÍŽË› Ă’Ă? ĂœĂ?Ă?Ă?Ă“Ă Ă?ĂŽ Ă‹ Ă˜Ă&#x;Ă—ĂŒĂ?Ăœ Ă™Ă? Ă™ĂžĂ’Ă?Ăœ Ă’Ă™Ă˜Ă™Ă&#x;ĂœĂ? Ă‹Ă—Ă™Ă˜Ă‘ ĂžĂ’Ă?Ă— ĂžĂ’Ă? Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă’Ă™Ă˜Ă™Ă&#x;Ăœ Ă™Ă? ĘŠĂ?Ă?Ăœ Ă™Ă? ĂžĂ’Ă? ĂœĂŽĂ?Ăœ Ă™Ă? ĂžĂ’Ă? Ă“Ă‘Ă?Ăœ Ě™ Ěš Ă“Ă˜ ÍŻÍˇÍśÍŻË› Ă’Ă? ĂŒĂ&#x;Ă”Ă‹ ĂœĂ‹Ă“Ă˜Ă“Ă˜Ă‘ Ă™ĘľĂ?ĂœĂŁ Ă?Ă˜ĂžĂ?Ăœ ĂĄĂ‹Ă? ĂœĂ?Ă˜Ă‹Ă—Ă?ĂŽ ĂžĂ’Ă? Ă‹ĂŽĂ“ ĂĄĂ‹Ă–Ă“ Ă™ĘľĂ?ĂœĂŁ Ă?Ă?Ă˜ĂžĂ?ĂœË› Ă™Ăœ ĂĄĂ‹Ă–Ă“Ëœ Ă’Ă?Ăœ Ă‘Ă“Ę° ĂŒĂœĂ™Ă&#x;Ă‘Ă’Ăž Ă’Ă?Ăœ ĂŒĂ?Ă?Ă™ĂœĂ? ĂžĂ’Ă? Ă&#x;Ă?Ă?Ă˜ Ă™Ă? Ă˜Ă‘Ă–Ă‹Ă˜ĂŽ Ă‹Ă˜ĂŽ Ă‘Ă™Ăž Ă?ĂžĂœĂ?Ă?Ăž Ă‹Ă˜ĂŽ ĂœĂ?ĂĄĂ‹ĂœĂŽ Ă˜Ă‹Ă—Ă?ĂŽ Ă“Ă˜ Ă’Ă?Ăœ Ă’Ă™Ă˜Ă™Ă&#x;ĂœË› Ă? Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă?Ă‹Ă“Ă– ĂžĂ™ ĂœĂ?Ă—Ă?Ă—ĂŒĂ?Ăœ Ă’Ă?Ăœ ĂšĂ“Ă?ĂžĂ&#x;ĂœĂ? Ă™Ă˜ ĂžĂ’Ă? Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Í°ÍŽ Ă˜Ă‹Ă“ĂœĂ‹ Ă˜Ă™ĂžĂ?Ë› Ă˜ĂŁ Ă?ĂŽĂ&#x;Ă?Ă‹ĂžĂ“Ă™Ă˜ ĂžĂ’Ă‹Ăž ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž ĂžĂ?Ă‹Ă?Ă’ Ă&#x;Ă? ĂžĂ™ ĂŽĂ“Ă?Ă?Ă™Ă Ă?Ăœ Ă‹Ă˜ĂŽ Ă˜Ă&#x;ĂœĂžĂ&#x;ĂœĂ? Ă™Ă&#x;Ăž Ă‘Ă“Ę°Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă&#x;Ă˜Ă“Ă›Ă&#x;Ă?Ă˜Ă?Ă?Ă? Ă“Ă? Ă‹ ĂĄĂ‹Ă?ĂžĂ?Ë› Eruotor writes from Lagos

Nigerian Musician to Donate Music Museum to UNILAG

L-R: The Deputy Vice-Chancellor, Academics, Federal University ofTechnology Akure (FUTA), Prof. Tunde Arayela; the Vice-Chancellor, Prof. Adebiyi Daramola; Managing Director, Mutual Benefits Assurance Plc, Mr. Segun Omosehin; and Director, Advancement Centre, FUTA, Prof. Bayo Aborishade, at the inauguration of the universityâ€™s advancement centre, donated by the company in Akureâ€Ś recently

Don Decries FGâ€™s Poor Approach to Science,Tech, Innovation Kasim Sumaina in Abuja The President, Africa University of Science and Technology (AUST), Prof. Kingston Nyamapfene, has decried governmentâ€™s poor commitment and approach to the development of science, technology and innovation in the country. Addressing journalists recently in Abuja at the 2017 Africa Capacity Building Foundation Report held at the university, he condemned governmentâ€™s lip service approach to the development of the sector. â€œAfrican governments like making statements about what they will do to support science, technology and innovations, but simply pay lip service to it. That is one of the negative effects affecting science, technology and innovation in Africa. â€œThe aim of the report was at least

pay one per cent of their GDP towards Science Technology Institutions (STI), we are not seeing much of that in most of the African countries.â€? Nyamapfene added: â€œIn fact, the report recommends that for Africa to catch-up with the rest of the world on science technology and innovations, we need to bump up that one per cent to three per cent of the GDP. That is one area; the other area is to do with the institutions weakness that we have in Africa. â€œWe have many universities, research institutions and so on but the type of work they are doing is not necessarily linked to the actual needs on the ground and there is need to link research activities to items that will drive national economies and improve the quality of life and economic transformation of the country.

â€œWe believe that the 2017 African Report is really an important landmark for the development of science and technology policy in Africa because of the way it was coordinated centrally by a very important agency, the Africa Capacity Building Foundation. â€œSo one of the primary partners for funding the activities at AUST and equally important is the fact that this event is linked to the presentation to the African Union Council, the report for the whole of Africa which is happening at about this time in Addis Ababa. This report is bent on developing institutional capacity. It is meant to narrate all the critical capacity dimensions that are important to the continentâ€™s growth and economic transformation at country and continental level.â€?

One of Nigerias Fuji icon, Dr. Adewale Ayuba, an alumnus of the University of Lagos (UNILAG) recently paid a courtesy visit to the management through the Lagos branch of the alumni association to declare his intention to donate a music museum to the university. Speaking during the visit, an associate professor in the Department of Geophysics and Chairman, UNILAG Alumni, Lagos branch, Dr. Lukumon Adeoti, stressed the need to develop the university to enable it rank with schools like Harvard. This he said can only be possible if members of the alumni ensure that their alma-mater is catered for in academic and infrastructural development. Adeoti recalled that Ayubaâ€™s attention was drawn to the university through the associationâ€™s campaign to bring distinguished alumni in all walks of life to drive the development of the university. The Vice-Chancellor, Prof. Rahmon Bello while commending the alumni and Ayuba, decried the universityâ€™s ranking among world universities, pointing out that the institution is inappropriately ranked while its research inputs and makeup of its academia that were trained in different universities in the

world are often ignored. He argued that UNILAG is one of the best schools in the world and that he can defend the assertion anywhere in the world with facts. He agreed with Adeoti that the alumni are important catalysts in the development of universities and thanked Ayuba for coming back home. The vice-chancellor described Ayubaâ€™s visit as epochal, saying that he will leave a legacy through the donation which will be properly documented and used for the benefit of lecturers, students and other visiting scholars to the university. Ayuba, who was accompanied by his wife and other well-wishers, thanked the university management and the alumni association for the opportunity given to him to contribute to the growth of the university. He said he has come to associate with the brand UNILAG anywhere he goes in the world. The high point of the occasion was the presentation of a souvenir to Ayuba and his wife by the first Deputy Vice-Chancellor, Development Services, Prof. Folasade Ogunsola, in appreciation of their visit and contribution to the university.

WEDNESDAY, APRIL 5, 2017, • T H I S D AY

CITYSTRINGS

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

Yenagoa: Bustling at Sunrise, Awake at Sunset Emmanuel Addeh writes that from what looked like a rural settlement just over two decades ago, Yenagoa, the capital city of Bayelsa, is fast embracing modern life and shedding its once uninspiring reputation a backward city

Yenagoa...bustling with activities at sunrise

t was once rustic: plain, simple, unsophisticated and quintessentially laid-back. The city's seeming slothfulness unveiled even at first contact. It slept during the day and went dead at nightfall. No one expected Yenagoa, the capital of Bayelsa State, to compete with the vibrancy of Lagos or take over Port Harcourt's space in the wrung of world cities that have lost their inherent innocence, but not many were proud of the town's blandness either. At some point the city made some progress. But it was short-lived. Just as Yenagoa was about shaking off its toga of a rough-hewn city, the resurgence of militancy which came to a head in 2009, and its associated fear-mongering drew back its little gains, returning it to its drab days. Yenagoa did not just come into existence. Indeed, it has existed for a number of centuries, but it took on its current garb of importance just over 20 years ago, precisely on October 1, 1996, when the town was pronounced the capital of the newly created oil-rich Bayelsa State Those in the know say that ever before its exposure to modern times, Yenagoa was a rural settlement harbouring mostly fishermen, canoe-builders and farmers with limited trading by the women. Then it was made a district headquarters by the colonialists, and later a local government headquarters, where the first military administrator first carried out matters of state at the inauguration of the town as the state capital just over two decades ago. Indeed, a popular newspaper columnist and a former media aide to an ex-President of Nigeria put the condition of Yenagoa very succinctly during a visit to the city a couple of years ago. He wrote: “There were two or three make-shift petrol stations which looked like abandoned projects. Didn't see too many banks. Nothing to suggest that this was the capital of a state.

“Obviously, so many developmental efforts in that part of the country must have been forgotten in the famous, proverbial pipeline. “The only sign of affluence belonged to one senior retired military official who hails from Delta and the locals talked about him as if he owned the town.” But all that appears to be in the past now, with Yenagoa bursting back to life during the day and refusing to sleep at night. Breath-taking edifices, both owned by government institutions and local businessmen are springing up. Yenagoa no longer compares with a village like some were wont to say a few years ago. It is now far more metropolitan, with people, mostly from the East, then South-west, followed by other tribes owning thriving businesses in the capital city. Security appears to have greatly improved, leisure points including night clubs, bars, restaurants and joints are also defying the economic recession, especially at the weekends. For those who have lived under the siege of insecurity, especially in the Niger Delta,

Security appears to have greatly improved, leisure points including night clubs, bars, restaurants and joints are also defying the economic recession, especially at the weekends. For those who have lived under the siege of insecurity, especially in the Niger Delta,Yenagoa seems like a refreshing exception

Yenagoa seems like a refreshing exception. While some city centres shut down as early as 8pm in some states of the Niger Delta, petty sellers, usually represented by the ubiquitous ‘mallam’ is still doing business by 12 midnight in the state capital. The Assistant Inspector General (AIG) of Police, in charge of Zone Five, Benin, Abubakar Mohammed, attested to this a few weeks ago when he said that available records showed Bayelsa State has the lowest crime rate in the zone. At a meeting with some of his senior officials in Yenagoa, the police chief lauded his men and the state government for their invaluable collaboration in fighting and reducing crime in the state. Shortly after, the Bayelsa State Government donated four armoured personnel carriers (APCs) to the police, noting that it was a demonstration of the government’s commitment and partnership with security agencies in the state. ”This is a demonstration of our commitment in supporting the police. We will provide more equipment for the police to ensure we improve in our fight against crime, criminality and theft. “We are taking steps to provide a local security system called State Education Safety Corps to curb child molestation, rape and insecurity in our schools,” the state's Chief Security Officer, Mr. Seriake Dickson said during the ceremony. On who should get the credit for the reduction in crime in the state, the governor boasted that he has been lucky to have the best crop of officers posted to the state. “I would not take the credit for that alone. I want to give the credit for our achievements in the areas of law and order, peace and security on peace building, to all the officers and men of the police. “With the collaboration of all sister agencies and leaders at all levels, including the people of the state, all the stakeholders must be appreciated for their support in reducing

the crime rate,” he said. It is not yet Uhuru, but residents admit that compared with other states in the Niger Delta, Yenagoa and indeed Bayelsa, takes a vantage point any day in terms of security of lives and property. The once hotbed of cult activities, armed robbery and politically motivated tension, usually incited by disgruntled politicians who feel they have to get even with their opponents, is gradually subsiding, giving way to civilised behaviour. But love or hate them, residents of Bayelsa, the young and not so young included, are natural fun-seekers, taking advantage of the slightest opportunity to party and let go of all life’s many vicissitudes, if only temporarily. Even during an economic recession, they hardly wait for dusk to set in before besieging the relaxation centres in town to unwind after office hours. Many of the joints provide all-round entertainment for fun-seekers, sometimes combining car wash with a spacious bar and a night club. At the close of work, people troop into the area to relax and unwind. Especially at the weekends, starting from Fridays, all roads appear to lead to the pubs at sunset in Yenagoa, with friends, business and political associates sitting around, drinking assorted alcoholic beverages as they relieve their work experiences. In fact, if one feels empty after bubbling on the dance floor, one could be served several plates of Nkwobi, Isi ewu, Shawarma and assorted drinks at night. But like in all cities close to where oil is found, they don’t come cheap. Made even more adorable by the beautiful streetlights in many of the major streets, Yenagoa, at night gives a picture of a city in haste to catch up with its counterparts that started long before it. Many popular clubs and bars including Blaze, Stop-over, Lakeview, Car Wash and V10, a club run from the base of a hotel owned

WEDNESDAY, APRIL 5, 2017, • T H I S D AY

CITYSTRINGS

by a former First Lady, are a first choice for fun-seekers, including those visiting the state for the first time. Here, businessmen, government officials, senior security personnel in the state, professionals ranging from banking to the media, hang out after a tedious week. While some of the spots are obviously above the lowly-placed, with prices of drinks as much as tripling and quadrupling, many residents have also found a way to enjoy themselves without breaking the bank. Those who cannot afford the high class bars, hotels and lounges, simply patronise roadside sellers of spirits and local aphrodisiacs, popularly called Nwokike, literally translated “ strong man” in local parlance. Then there are the regular ‘night doctors' mostly on Hospital Road, always willing to treat their patients ( lecherous men), of course, given the right price. This business seems to always get a boost when construction work, which attracts various workers from within and outside the state is going on around Yenagoa and environs. Michael Ayibakuro, who works with one of the construction firms in the town, is a regular visitor to a night club situated along Isaac Boro Expressway in Yenagoa. When asked why relaxation spots still seemed to be booming despite a lull in the economy, Mr. Ayibakuro responds: “see, my brother, there will always be problems in life. “I will agree with you that things are hard in this country right now. But it wouldn’t stop me from taking time out to have fun and enjoy myself. Life is short. “I can’t continue ruminating over the problems in Nigeria. After all, nobody is sure whether he will be alive the next moment. Life continues,” he said, taking a sip off the glass on his table. Sitting closely beside him was Francis Paul, who said he runs a home appliances business in the state capital. On why he would patronise clubs that sell drinks far above what obtains in regular liquor shops outside, Paul says the thrills of being on the dance floor with several other “happy people” could not be measured. “I know it’s cheaper to get these drinks outside there, but ask anybody around, they will tell you that the feeling and atmosphere are not the same when you just sit in your sitting room taking a bottle of beer.” The Commissioner for Information and Orientation in Bayelsa, Mr. Jonathan Obuebite, ascribes the changing face of nightlife in Yenagoa to the hard work put in by the security agencies, especially ‘Doo Akpo', a special security outfit, in collaboration with other crime-fighting bodies and the encouragement given by the government. He admitted that although security was compromised during the last election, the Dickson-led administration went back to the drawing board, giving birth to the relative peace currently being enjoyed by residents. “Before the governor came to office, the

Especially at the weekends, starting from Fridays, all roads appear to lead to the pubs at sunset inYenagoa, with friends, business and political associates sitting around, drinking assorted alcoholic beverages as they relieve their work experiences.In fact, if one feels empty after bubbling on the dance ﬂoor, one could be served several plates of Nkwobi, Isi ewu, Shawarma and assorted drinks at night. But like in all cities close to where oil is found, they don’t come cheap

Revellers in one of the spots along Isaac Boro Expressway in Yenagoa

A roadside palmie joint on Abacha Way in Yenagoa

A popular nightclub along Isaac Boro Expressway in Yenagoa

state had a very bad record in terms of security, whereby at least one person was dying everyday in Yenagoa. Even opposition voices couldn’t stay within Yenagoa. “The first thing we did was to pass the anti-cult law and grant amnesty to many of them, including their leaders who were heavily involved in drugs. And the governor has said he will never play politics with the security of the state. “During Fam-tamgbe (the security outfit before the current government), they were

involved in unholy activities, including even getting involved in husband/wife matters. So, we set up ‘Doo Akpo’, well equipped that in three minutes, no matter where you are in Yenagoa, the team will reach you. “It led to the arrest and prosecution of some of the criminals. Before now, Bayelsa could not sleep with two eyes closed. But with the new response time and support from government, it was difficult for the criminals to operate, so they fled the state,” Obuebite said. He added: “that is why the nightlife in

Bayelsa has improved. People can now move around more freely. “Although crime cannot be taken away completely from any society, we have a strategy that nips crimes in the bud before they happen.” It might not be “see Yenagoa and die” yet, neither would it compare with Paris, the French city from where the original phrase emanated, but Yenagoa, the capital city of Bayelsa, is definitely not what it was before now: rustic and brutish!

T H I S D AY WEDNESDAY APRIL 5, 2017

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Blast on Russian Subway Kills 10, Injures 50; 2nd Bomb Found An explosion ripped through a subway train in the Russian city of St. Petersburg on Monday, killing at least 10 people and injuring 50 others, the city’s governor told Russian television. The blast came as Russian President Vladimir Putin was visiting the city, his hometown. Witnesses on the subway said the blast spread panic among passengers, who ran toward the exits. Putin, speaking from Constantine Palace in St. Petersburg, said investigators were looking into whether the explosion on the train was a terror attack or if there might have been some other cause. He offered his condolences to the families of those killed. There was no immediate claim of responsibility for the blast. Within two hours, Russia authorities found and deactivated another bomb at a separate busy St. Petersburg subway station, Vosstaniya Square by the Moscow railway station, Russia’s National Anti-Terrorist Committee said. The unidentified explosive device went off at 2:20 p.m. on a train that was leaving the Technology Institute station and heading to the Sennaya Square station, the agency said. Social media users posted photographs and video from the Technology Institute subway

station, showing injured people lying on the floor outside a train with a mangled door. Frantic commuters were reaching into doors and windows, trying to see if anyone was there, and shouting “Call an ambulance!” “Everything was covered in smoke, there were a lot of firefighters,” Maria Smirnova, a student on a train behind the one where a bomb went off, told the Dozhd television channel. “Firefighters shouted us to run for the exit and everyone ran. Everyone was panicking.” The St. Petersburg subway immediately shut down all of its stations and the national anti-terrorism body said security measures would be tightened all key transport facilities across Russia. Maxim Liksutov, Moscow’s deputy mayor, said that included tightening security on the subway in the Russian capital. St. Petersburg, Russia’s secondlargest city with over 5 million residents, is the country’s most popular tourist destination and the two stations affected by the blast are some of the subway’s busiest. Nataliya Maksimova was running late for a dentist appointment and entered the subway near the explosion site shortly after the blast. “If I hadn’t been running late, I

could have been there,” she told The Associated Press. Putin was in St. Petersburg on Monday for talks with Belarusian President Alexander Lukashenko, and went ahead with the talks after appearing on Russian television to speak about the attack.

“Law enforcement agencies and intelligence services are doing their best to establish the cause and give a full picture of what happened,” Putin said. St. Petersburg governor Georgy Poltavchenko was overseeing the rescue effort.

T H I S D AY Ëž , APRIL5, 2017

BUSINESS/MONEYGUIDE

FG Urged to Reduce Business Entry Barriers Eromosele Abiodun Nigerian government has been urged to reduce business entry barriers in the country in order to encourage entrepreneurship and promote economic development. Chairman of the Global Board of Directors of Entrepreneurs Organisation (EO), Ivan Ting made the call during his visit to the Nigerian Chapter of EO, as part of his African Tour. EO is a global business network of 12,000 leading entrepreneurs in 160 chapters and 50 countries, owing businesses that have minimum $1 million revenue annually. Ting, a member of EO in Hongkong also said Nigerian government should look at the educational system, like what was done in Honkong, by building a long term education that will develop capacity for entrepreneurship to ride on

growing technology. According to him, â€œIt will not be skills that would require so much capital to start, but ideas and innovative mindset. We must look into how to educate our children so that they are not only good in English and mathematics, but creative to be able to bring out required innovation and entrepreneurship.â€? Ting who was excited about the entrepreneurs he met in Nigeria, said the country has a lot of potential in entrepreneurship. Also, an EO member from the United States and also global board of directors for EO, Fred Johnson, in his comment said what was exciting about Nigeria â€œis the innovation our members bring into their business either in telecommunication, or oil and gas and their ability to bring them down to local culture to suite the people and consumers.â€? â€œI find it fascinating the innovative skills that entrepreneurs

have deployed to make their business successful, despite the challenges in the business environment. They are able to navigate and even connect to what so many people may not recognize as opportunities with the ecosystem and they are successful,â€? Johnson said. He also urged the government to reduce the barriers and paper work required for businesses to get started. The outgoing president, EO Lagos Chapter, Funmi Babington-Ashaye said the organisation was focused in helping its members building their entrepreneurship capabilities through exchange of ideas. She said it is careful in selection of members, by ensuring that only genuine people are admitted as members because membership exposes you to other 12,000 entrepreneurs all over the world.

SunTrust Bank Posts N343m ProďŹ t SunTrust Bank Limited has revealed that it made profit before tax of N343 million in its 2016 financial results, which was an increase by 160.3 per cent compared with the N131.9million reported in 2015. The newly licenced regional bank also disclosed that its profit after tax increased by 74.6per cent to N212.7 million in the year under review, from N121.8 million in 2015. With growth in profitability, it stated in a report yesterday that it Earnings per Share (EPS) gained 12.5 per cent to N0.18 in 2016 from N0.16 recorded in 2015. According to a statement, despite the 2016 recession that

led to severe macro economy challenges, the bank said it recorded growth in customer deposits through its broad range of unique financial services and products to individuals, small businesses, corporation and the government. The bank focuses its lending activities to the SMEs, retail consumers, and emerging corporates. It also explores other specialised development finance activities, including the agricultural value chain. It will be recalled that the bankâ€™s Chief Executive, Muhammed Jubrin, recently assured operators in the small and medium scale enterprises

sector that his bank will focus on the small businesses by availing financing and thus ensuring that the sector plays its pivotal role in the economy. Jubrin had said: â€œIn line with our strategy, we are going to drive SMEs transactions certainlyâ€Ś and part of our strategy is retail banking, we want to create a retail bank of choice and certainly SMEs is the engine room for the growth of any economy and to provide financing services, to support the SMEs will be the only way, we can support the growth of the economy and particularly in line with the vision of the CBN and the current administration.â€?

Abudu Provides Success Tips for Budding Entreprenuers The Chief Executive Officer of EbonyLife TV, Mo Abudu has advised young entrepreneurs to always remain focused on their goals. Abudu, gave the advice yesterday when she featured on the Fidelity SME Forum on Inspiration FM, Lagos, that was moderated by the Chief Executive Officer of Fidelity Bank Plc, Mr. Nnamdi Okonkwo. According to the multitalented Executive Producer, young entrepreneurs must also have a plan of what they want to achieve, stressing that such plan must be realistic. â€œIt is important to look at Nigeria as it is today as a

market and find those opportunities for what they can create within the reality of the market as it is today. I find often that the business ideas that the millennials have may not be grounded in reality of the times that we find ourselves in, and it is important that your ideas are grounded. â€œThat is the most important piece of advice I can give to any entrepreneur. You must make sure your ideas are grounded, make sure they are realistic and you must be able to execute them. Why are they going to switch to your channel? Why are they going to buy your product or your service? What

makes you different? What makes you unique? â€œThose are the things that any business person needs to identify, looking at the existing business opportunities in their area. What is it that you are coming up with? Is it art, music or fashion? All these exist. But what is going to make the difference is the added advantage you are bringing to the market and the extra value,â€? she explained. Abudu described the Fidelity SME forum as fantastic platform for young entrepreneurs because it gives them the opportunity understand issues such as how to start their business.

UBA Promotes 3,000 Staff The United Bank for Africa (UBA) yesterday announced the promotion of 3,000 staff members, which it said was a reinforcement of its commitment to human capital investment, and career progression, at the current challenging operating circumstances. The bank said the promotions were made across UBAâ€™s global network. In a letter written on Monday, April 3 2017, to members of staff by the bankâ€™s, the CEO, Kennedy Uzoka said: â€œSince my recent appointment as GMD/

CEO, one of my priorities has been to address the needs of our people. I strongly believe that if we take care of our people, our people will take care of our customers - our ultimate employers. â€œInvestment in our human capital is critical to our success. It is a product of our ability to invest for the long term and create an institution that is built to last. It is the bedrock of our determination to be Africaâ€™s leading customer focused bankâ€?.

In addition to the Group-wide promotion, Uzoka, in a statement yesterday, unveiled a new Workforce Model and an extension of the existing Group car loan benefit, to 1000 previously ineligible staff. These policies were in direct response to staff feedback from the Employee Engagement Survey, which the CEO said had helped define current and future human capital investment. The revised Workforce Model democratizes access to leadership roles and opportunities at the bank.

MARKET INDICATORS 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 Month

December 2016

Inter-Bank Call Rate

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 Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT, MON, 3 APRIL 2017 The price of OPEC basket of thirteen crudes stood at $50.68 a barrel on Monday, compared with $50.43 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

T H I S D AY Ëž ÍłËœ Í°ÍŽÍŻÍľ

Nigeriaâ€™s top 50 stocks based on market fundamentals

4-Apr-17

3-Apr-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

Open 3-Apr-17

Close 4-Apr-17

Change %

NSE All Share Index NSE Market Cap (N'Trillion)

25,273.03 8.74

25,266.15 8.74

-0.03 -0.03

104.86 8.16

104.78 8.16

-0.08 -0.08

Close 4-Apr-17

Change %

01 Dangote Cement Plc

161.10

0.00%

2,745,225,742,945.50

10.95

14.71

4.46

4.97%

3.44

02 Nigerian Breweries Plc

125.00

125.15

-0.12%

991,137,611,000.00

3.58

34.88

3.16

2.88%

5.97

03 Guaranty Trust Bank Plc

24.17

24.31

-0.58%

711,351,601,844.08

4.49

5.38

1.72

7.32%

1.41

750.00

0.00%

594,492,189,000.00

10.00

75.02

3.27

3.87%

19.25

14.30

14.20

0.70%

448,969,861,139.80

4.13

3.46

0.88

12.59%

0.64

395.00

396.00

-0.25%

218,557,573,635.00 -82.02

-4.82

3.45

4.03%

0.58

43.20

0.00%

196,771,758,192.00

3.71

11.64

0.90

6.94%

0.79

5.18

5.30

-2.26%

187,927,946,347.96

1.99

2.60

0.49

11.58%

0.42

47.00

0.00%

186,612,421,115.00

0.03

1,607.40

2.62

2.77%

4.46

6.25

6.26

-0.16%

180,799,822,693.75

13.18

0.47

8.80%

0.40

18.00

17.95

0.28%

180,000,000,000.00

2.85

6.31

1.15

0.56%

1.28

8.44

8.70

-2.99%

154,870,212,254.60

0.68

12.48

0.26

7.35%

0.25

35.00

0.00%

132,415,368,750.00

0.81

43.11

1.90

0.14%

11.33

14 Mobil Oil Nig Plc

315.00

0.00%

113,587,507,530.00

22.61

13.93

1.21

2.29%

5.29

15 FBN Holdings Plc

3.10

3.12

-0.64%

111,275,407,655.20

0.21

14.94

0.21

4.84%

0.18

16 Guinness Nig Plc

60.50

60.51

-0.02%

91,106,235,374.00

-3.06

-19.78

0.88

5.29%

2.31

17 Total Nigeria Plc

260.00

0.00%

88,275,677,620.00

43.58

5.97

0.30

5.38%

3.75

18 Dangote Sugar ReďŹ nery Plc

7.00

7.16

-2.23%

84,000,000,000.00

1.20

5.83

0.49

7.14%

1.27

19 Oando Plc

5.25

4.94

6.28%

63,181,749,193.50

0.29

18.08

0.14

14.29%

0.33

NSE All Share Index sheds 0.03%

20 Forte Oil Plc.

45.00

47.80

-5.86%

58,611,649,635.00

2.22

20.28

0.39

7.67%

1.35

21 7-Up Bottling Comp. Plc

87.00

87.05

-0.06%

55,731,361,581.00

-0.05 -1,904.76

0.60

2.53%

2.51

22 Julius Berger Nig. Plc

41.95

0.00%

55,374,000,000.00

-2.89

-14.51

0.40

3.58%

0.79

23 International Breweries Plc

16.00

0.00%

52,707,988,480.00

0.02

710.10

1.98

1.56%

4.80

24 Okomu Oil Palm Plc

52.51

50.01

5.00%

50,089,814,100.00

4.82

10.89

7.62

0.19%

3.10

25 Flour Mills Nig. Plc

18.00

17.99

0.06%

47,236,269,366.00

-1.19

-15.09

0.11

11.11%

0.47

26 U A C NÂ Plc

15.12

14.33

5.51%

29,043,469,531.44

3.37

4.48

0.38

6.61%

0.38

27 Transnational Corporation Of Nigeria Plc

0.72

0.73

-1.37%

27,879,118,146.00

-0.03

-24.74

0.47

0.00%

0.32

28 FCMB Group Plc

1.21

0.00%

23,961,280,045.01

0.72

1.67

0.14

8.26%

0.13

29 Fidelity Bank Plc

0.80

0.00%

23,170,068,553.60

0.39

2.07

0.15

20.00%

0.13

30 National Salt Co. Nig. Plc

8.64

7.82

10.49%

22,891,147,585.92

0.91

9.48

1.25

6.37%

2.84

32.64

29.61

10.23%

22,848,000,000.00

2.29

14.25

3.35

3.52%

10.01

32 Sterling Bank Plc

0.70

0.72

-2.78%

20,153,292,688.20

0.18

3.90

0.18

12.86%

0.24

33 Diamond Bank Plc

0.84

0.86

-2.33%

19,454,726,733.12

-0.29

-2.86

0.09

0.00%

0.09

34 Wema Bank Plc

0.50

0.00%

19,287,233,040.50

0.07

7.44

0.36

0.00%

0.40

35 Custodian And Allied Insurance Plc

3.22

0.00%

18,939,602,707.90

0.91

3.55

0.49

4.35%

0.63

36 Cadbury Nigeria Plc

9.45

8.75

8.00%

17,749,009,278.00

-0.16

-59.88

0.59

13.76%

1.61

14.50

14.00

3.57%

17,340,209,076.00

3.51

4.13

1.21

2.07%

1.02

38 Mansard Insurance Plc

1.60

1.66

-3.61%

16,800,000,000.00

0.25

6.38

0.81

3.13%

0.83

39 PZ Cussons Nigeria Plc

14.59

14.00

4.21%

14,590,000,000.00

5.69

2.57

1.02

0.69%

0.39

40 Continental Reinsurance Plc

1.11

0.00%

11,513,746,186.32

0.42

2.64

0.52

10.81%

0.62

41 Honeywell Flour Mill Plc

1.00

1.05

-4.76%

7,930,197,658.00

-0.40

-2.47

0.16

16.00%

0.24

42 Unity Bank Plc

0.64

0.00%

7,481,176,282.88

-0.10

-6.24

0.12

0.00%

0.09

43 Skye Bank Plc

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

44 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 Cement Co. Of North.Nig. Plc

4.47

0.00%

5,617,349,614.02

0.22

20.42

0.51

2.24%

0.52

47 AIICO Insurance Plc

0.56

0.54

3.70%

3,880,914,508.80

1.48

0.38

0.14

8.93%

0.45

48 Nigerian Aviation Handling Company Plc

2.20

2.15

2.33%

3,573,281,250.00

0.15

14.56

0.44

9.09%

0.60

49 UACN Property Development Co. Limited

1.70

0.00%

2,921,874,991.50

-0.90

-1.89

0.46

41.18%

0.09

50 Fidson Healthcare Plc

1.00

0.00%

1,500,000,000.00

0.21

4.74

0.20

5.00%

0.23

Market pulse on the Nigerian Stock Exchange (NSE) today â€“ Tuesday, April 4th, 2017 ended on a negative note as the stock market closed red as more companies release full year ďŹ nancial results. This was further highlighted by negative performance from the NSE Subsectors: Banking, Insurance and Oil & Gas (Save Consumer Goods). However, trading activities increased in volume as 180.22m shares worth of N1.62 billion in 2,917 deals exchanged hands today. This is an increase from 97.69m shares worth of N683m in 2,634 deals which exchanged hands on Monday. Topping in volume terms are: GlaxoSmithKline Consumer Nig. Plc, Flour Mills Nig. Plc and Access Bank Plc; Flour Mills Nig. Plc and GlaxoSmithKline Consumer Nig. Plc ended trading as the most active stocks in value terms. Brent crude oil price continues its northward trend to position at US$53.87 per barrel. The All Share Index (NSEASI) closed negative with 0.03% (-6.88) decrease to close at 25,266.15 from 25,273.03 the previous trading day. Market capitalization depreciated in tandem to N8.74 trillion from N8.74 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with a decrease of 0.08% to 104.78 from 104.86 recorded at the end of the previous trading day, while its market capitalization stood at N8.16 trillion from N8.16 trillion of the previous trading day. Market breath closed positive today as 19 stocks gained on the bourse while 19 stocks also declined, leaving 72 stocks unchanged. Topping the Thisday BGL 50 Index gainersâ€™ list National Salt Co. Nig. Plc as it emerged as the dayâ€™s toast of investors with a gain of 10.49% to close at N8.64 per share. It was closely followed by Cap Plc with a gain of 10.23% to close at N32.64 per share. Others on the gainers list include: Cadbury Nigeria Plc, Oando Plc and UACN Plc; while on the declinersâ€™ list, Forte Oil Plc lead with a loss of 5.86% to close at N45.00 share. It was followed by Honeywell Flour Mill Plc with a loss of 4.76% to close at N1.00 per share. Others on the decliners list include: Mansard Insurance Plc, Ecobank Transnational Incorporated and Sterling Bank Plc.

04 Nestle Nigeria Plc 05 Zenith Bank Plc 06 Seplat Petroleum Dev. Co. Ltd 07 Lafarge Africa Plc 08 United Bank for Africa Plc 09 Presco Plc 10 Access Bank Plc 11 Stanbic IBTCÂ Holdings Plc 12 Ecobank Transnational Incorporated 13 Unilever Nigeria Plc

31 Cap Plc

37 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,158,131,853,362.60

TOTAL MARKET CAP

8,742,388,659,698.29

% OF MARKET CAP Annotation - MA* = Simple Moving Average

93.32%

Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Table 3 Top 5 Gainers Stock

Open 3-Apr-17

National Salt Co. Nig. Plc Cap Plc Cadbury Nigeria Plc Oando Plc U A C NÂ Plc

7.82 29.61 8.75 4.94 14.33

8.64 32.64 9.45 5.25 15.12

10.49 10.23 8.00 6.28 5.51

Table 4 Top 5 Losers Stock

Open 3-Apr-17

Forte Oil Plc. Honeywell Flour Mill Plc Mansard Insurance Plc Ecobank Transnational Incorporated Sterling Bank Plc

Close 4-Apr-17

Change %

47.80 1.05 1.66 8.70

45.00 1.00 1.60 8.44

-5.86 -4.76 -3.61 -2.99

0.72

0.70

-2.78

REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the ďŹ rm may have a conďŹ‚ict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY Ëž , APRIL 5, 2017

MARKET NEWS

Japaul Records N22.5bn Loss, Seeks Shareholders Support Goddy Egene and Nosa Alekhuogie Japaul Oil and Maritime Services (JOMS) Plc has reported revenue of N3.079 billion, down from N8.148 billion and ended the 2016 year with loss of N22.5 billion, as against N8.0 billion in 2015. The management of the company attributed the N22.5 billion loss to the challenging operating landscape in 2016,

worsened by the impact of the naira devaluation by the Central Bank of Nigeria (CBN). Explaining the loss, JOMS Plc said that the devaluation of the naira against the United States dollar by the CBN from N196.50:$1.00 in 2015 to N304.5.00:$1.00 in 2016, resulted in significant foreign exchange losses accounting for over 70 per cent of the groupâ€™s loss. According to the company, weak economic fundamentals

T H E MAIN BOARD

DEALS

MARKET PRICE

and its effect on the oil and gas sector with similar impact on the maritime industry further hampered topline growth, leading to poor revenue generation for the company. The poor performance notwithstanding, the company reaffirmed that with improved business environment in 2017, the current restructuring efforts within the group, evidenced by the recent sale of its foreign subsidiary and the continued

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

support of shareholders, the fortunes of the company will be transformed. It further stated that the repositioning initiatives being undertaken, would continue in order to achieve improvements in its underlying asset quality, cost efficiency and enhanced revenue generation across the group. As part of the restructuring, the company recently appointed a new Group Managing in 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

2.69

614,065

1,572,223.05

person of Mr. Kayode OlusegunOjo; an acting Deputy Managing Director, Mr. Akinloye Oladapo and Executive Director, Finance and Planning, Mr. Olubunmi Falua. Olusegun-Ojo started his career with Lafenwa Osiberu & Co. as an Audit trainee before he joined Aba Ogunsola & Associates. He assumes duty as the Deputy Group Managing Director of JOMSin November 23, 2015 and elevated to Acting

Group Managing Director of JOMs. Prior to his initial appointment with JOMS, he worked as the MD at Nigerian Aviation Handling Company Plc. On the other hand, Oladapo holds HND in urban and Regional planning from the Polytechnic of Ibadan and postgraduate diploma and MSC. Degree in Transport from Ogun State University, Ago-Iwoye.

E XC H A N G E

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

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

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

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

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

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

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

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

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

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

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

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

33 33 189

318.00

389,934 389,934 4,473,488

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

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

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

1 1 43 1,811

1.68

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

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

2 2 2 2

1.21

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

327,261.44 327,261.44 327,261.44 327,261.44

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

10,438,552 10,438,552 24,368,231

39,515,087.18 39,515,087.18 199,120,526.41

35 35 35 619 2,432

139.83

38,770 38,770 38,770 24,407,001 3,452,903,681

5,304,666.00 5,304,666.00 5,304,666.00 204,425,192.41 5,990,143,129.00

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

3,000 20 20 20 15 3,075 3,075 3,075

6,986,000.00 46.70 120.20 221.80 270.65 6,986,659.35 6,986,659.35 6,986,659.35

Daily Summary (ETP) Exchange Traded Fund Name NEWGOLD EXCHANGE TRADED FUND (ETF) VETIVA BANKING ETF VETIVA CONSUMER GOODS ETF VETIVA GRIFFIN 30 ETF VETIVA INDUSTRIAL ETF Exchange Traded Fund Totals ETF Board Totals ETP Activity Totals

˾ WEDNESDAY, APRIL 5, 2017

MARKET NEWS

No Dividend as Seplat Records N45.4 Billion Loss Goddy Egene Shareholders of Seplat Petroleum Development Company Plc will not earn dividend for the 2016 as the company has reported a loss of N45.4 billion, compared with a profit of N13 billion in 2015. An analysis of the results showed that Seplat, which is listed on the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE),

recorded a revenue of N63.4 billion in 2016, down from N113 billion. Cost of sale reduced by 26.1 per cent to N63.7 billion, from N47.1 billion. Gross profit fell by 66.9 per cent to N16.3 billion, from N49.3 billion in 2015. The company ended the year with a loss of N45.4 billion, compared with profit of N13 billion in 2015. Commenting on the results, the Chief Executive Officer of Seplat, Austin

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

Avuru, said: “In addition to a difficult global oil market backdrop our business has had to contend with unprecedented operational challenges due to interruptions and these are reflected in our full year results. Whilst force majeure at the Forcados terminal has materially affected our oil production, I am particularly pleased to see the growth in our gas business which in 2016 exceeded the $100 million revenue milestone

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 03Apr-2017, unless otherwise stated

demonstrating its robustness and providing a solid base from which to grow. “ In addition, we have now established a longer term alternative export route via the Warri refinery jetty and are nearing completion of upgrade works to the infrastructure enabling a doubling of barging volumes to a steady 30,000 bopd gross during Q2 2017. Alongside this we are collaborating and supporting government on

completion of the Amukpe to Escravos pipeline that will offer a third export route through the Escravos terminal. With multiple export routes expected to be operational during the second half of 2017, we will have significantly derisked our route to market.” According to him, while the quality of company’s asset base remains undiminished, they will continue to maintain strict financial discipline to ensure that they preserve a

sufficient liquidity buffer in the current environment and at the same time retain discretion over spend in our portfolio of production opportunities. Seplat said it is actively pursuing alternative crude oil evacuation options for production at OMLs 4, 38 and 41 and potential strategies to further grow and diversify production in order to reduce any over-reliance on one particular third party operated export system in the future.

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 131.10 131.63 3.23% Nigeria International Debt Fund 218.38 219.15 1.47% 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 0.72 0.73 2.71% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 17.27% 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 12.49 12.86 1.13% ARM Discovery Fund 293.39 302.24 2.17% ARM Ethical Fund 22.40 23.07 0.25% ARM Money Market Fund 1.00 1.00 16.07% 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 107.66 108.42 2.36% AXA Mansard Money Market Fund 1.00 1.00 16.64% 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 Paramount Equity Fund 9.56 9.81 2.16% Women's Investment Fund 87.63 89.87 3.58% 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 18.07% 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 1,139.83 1,141.02 4.54% FBN Heritage Fund 109.47 110.21 -1.89% FBN Money Market Fund 100.00 100.00 17.09% FBN Nigeria Eurobond (USD) Fund - Institutional $107.41 $108.06 3.20% FBN Nigeria Eurobond (USD) Fund - Retail $107.11 $107.76 3.62% FBN Nigeria Smart Beta Equity Fund 115.99 117.48 2.93% 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 0.96 0.98 3.19% Legacy Short Maturity (NGN) Fund 2.68 2.68 4.11% 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 2,231.04 2,257.91 1.01% Coral Income Fund 2,202.51 2,202.51 4.67% 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 17.21% 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 17.06% Vantage Balanced Fund 1.72 1.74 2.19% Vantage Guaranteed Income Fund 1.00 1.00 15.83%

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 3.03% Lotus Halal Fixed Income Fund 1,031.13 1,031.13 2.81% 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 9.66 9.74 -0.03% Meristem Money Market Fund 10.00 10.00 16.53% 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 1.09 1.11 3.33% PACAM Fixed Income Fund 10.47 10.52 0.70% PACAM Money Market Fund 10.00 10.00 16.42% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 110.81 111.71 8.83% 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 1.16 1.16 2.48% 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 1,852.97 1,862.09 1.16% Stanbic IBTC Bond Fund 156.57 156.57 1.70% Stanbic IBTC Ethical Fund 0.76 0.77 -0.65% Stanbic IBTC Guaranteed Investment Fund 193.56 193.56 3.57% Stanbic IBTC Iman Fund 131.37 133.07 1.19% Stanbic IBTC Money Market Fund 100.00 100.00 17.57% Stanbic IBTC Nigerian Equity Fund 7,369.10 7,455.75 -2.82% 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 1.11 1.16 7.55% United Capital Bond Fund 1.28 1.28 15.60% United Capital Equity Fund 0.65 0.66 0.96% 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 10.02 10.20 4.03% Zenith Ethical Fund 11.32 11.43 3.67% Zenith Income Fund 17.43 17.43 5.51%

REITS NAV Per Share

Yield / T-Rtn

11.41 118.15

1.01% 1.99%

Bid Price

Offer Price

Yield / T-Rtn

8.14 71.97

8.24 73.31

-7.25% -5.03%

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

2.70 6.25 11.70 15.04 128.77

2.74 6.33 11.80 15.24 130.77

-1.79% -11.03% -2.46% -5.67% -0.85%

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.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

NEWSEXTRA

Falana Asks Police to Stop Arresting Citizens for Loitering, Wandering Says law repealed in 1989 Gboyega Akinsanmi A human rights lawyer, Mr. Femi Falana, yesterday asked the Nigeria Police to desist from arresting and prosecuting citizens for loitering and wandering, saying it was a violation of fundamental human rights to arrest or prosecute any

citizen for such offences. Falana, a Senior Advocate of Nigeria (SAN), said vagrancy law, which was introduced to Nigeria under the British colonial regime, had been repealed in 1989 under the military junta of Gen. Ibrahim Badamosi Babangida after a sustained campaign by human

Pro-Ndume Protesters Demand Reinstatement of Suspended Senator Damilola Oyedele in Abuja Protesters yesterday besieged the main gate of the National Assembly, demanding the reinstatement of the senator representing Borno South, Senator Ali Ndume, who was last week suspended for six months by the Senate. The protesters, under the aegis of the Southern Borno Global Initiative, had blocked the main gate as early as 8.30a.m. causing vehicles driving into the premises to be diverted to the Office of the Secretary to the Government of the Federaation and Presidential Villa gates. They also issued a three-day ultimatum to the Senate to withdraw the suspension, failure of which they threatened legal action to uphold the right of the senatorial district to representation. Policemen of the FCT Police Command were on ground to ensure there was no breakdown of law and order. Ndume was suspended last week after the Senate Committee on Ethics indicted him for dragging the institution of the Senate into disrepute. Ndume, penultimate week, had raised a point of order, citing an

online news medium report which was rehashed by a daily newspaper (not THISDAY). He had noted that the integrity of the Senate was being questioned following the report that the lawmakers were on a vengeance mission against the Comptroller General of the Nigerian Customs Service (NCS), Col. Hammeed Ali (rtd), due to the seizure of a bulletproof Range Rover Sport Utility Vehicle ( SUV) allegedly owned by Senate President Bukola Saraki. Ndume also noted that the report claimed that Senator Dino Melaye (Kogi West) does not have a first degree from the Ahmadu Bello University (ABU), and urged the Senate to investigate the allegations. Saraki and Melaye appeared before the committee alongside Vice Chancellor of ABU, Prof. Ibrahim Garba; the car importer, Mr. Tokunbo Akindele, and the dealer, Mr. Olanrewaju Shittu, who cleared them of the allegations. The protesters however said the action of Ndume does not justify the suspension slammed on him. In an open letter to Saraki, the President of the group, Mr. Musa Ali Gwoza, urged the Senate to reconsider its position.

PDP Convention: Fayose Damns Sheriff, Rejects Request to Nominate Governors Victor Ogunje in Ado Ekiti The crisis rocking the opposition Peoples Democratic Party (PDP) yesterday took another dimension, as the Governor of Ekiti State and Chairman of the PDP Governors’ Forum , Mr. Ayodele Fayose, rejected the offer by Ali Modu Sheriff to nominate governors that would participate in the proposed convention. Fayose said the court validated factional chairman of the party, Senator Sheriff, lacked the moral right to commandeer him to do so, saying he has no recognition for his faction. The PDP recently broke into two factional leadership caucuses, Sheriff and Alhaji Ahmed Makarfi-led factions, to which Fayose belongs. While the Makarfi faction has appealed the judgment at the Supreme Court, Fayose in response to Sheriff’s request yesterday, declared that he does not recognise him (Sheriff ) as the chairman of the party and would not want to have anything to do with him. Sheriff, in a letter dated March 29, 2017 and signed by one Prof. Wole Oladipo, identified in the letter

as the National Secretary of the party, urged Fayose to nominate governors that would participate in the much awaited convention. Fayose, while replying Sheriff, in his letter dated April 4, 2017, and entitled: ‘Re-nomination of Governors For the National Convention,’ said: “I received your letter dated March 29, 2017 and signed by one Prof. Wole Oladipo who claims to be the National Secretary of the PDP requesting me as the Chairman of the PDP Governors’ Forum to send list of governors for your proposed convention. “I wish to state that, I, Ayo Fayose do not recognise you as the party’s national chairman and will not have anything to do with you. “I don’t have interest in a kangaroo convention being remotecontrolled by the APC-led federal government. “You are, therefore , advised to leave me out of any arrangement in which you are being portrayed as the leader of the party. “I will not welcome any further correspondence from Sheriff faction because I’m not interested in the so-called convention,” Fayose said.

rights activists. He conveyed his grievance in a letter he addressed to the InspectorGeneral of Police, Mr. Ibrahim Idris, yesterday, lamenting that officers of the Nigeria Police “are still arresting and prosecuting citizens for loitering and wandering after the vagrancy law was abolished.” According to him, the antipeople law was retained for the purpose of harassing and intimidating poor people by the indigenous ruling class who took over power from the alien administrators in 1960. In what he described as a display of class bias, Falana said whenever rich people “were found on the street taking a walk it was said that they were exercising their fundamental right to freedom of movement. “But whenever the poor exercise such fundamental right to freedom of movement they were usually

arrested by the police who accused them of wandering or loitering,” the human rights lawyer said. In a one-page letter he personally signed, Falana noted that the Babangida junta promulgated the Minor Offences (Miscellaneous Provisions) Act (CAP M16) Laws of the Federation of Nigeria 2004, which automatically abolished the vagrancy law in the criminal and penal codes. He cited section 1 of the Act, which stipulates that a person “shall not be accused of or charged with the offence of wandering (by whatever name called); or any other offence by reason only of his being found wandering (by whatever name called). “Accordingly, any person accused of or charged with such offence shall be released or discharged, as the case may be, forthwith. A person who

is accused of a simple offence shall not, by reason only of being accused of such offence, be detained in police or prison custody.” Despite the abolition of the offence of wandering throughout the country, Falana lamented that the Nigeria Police had engaged in the indiscriminate arrest and prosecution of many poor people for loitering. Under the pretext of ridding the Federal Capital Territory of criminals and other undesirable elements, he noted that officers of the Nigeria Police recently arrested scores of young people around Asokoro and other high brow areas in Abuja. He added that the suspects “were illegally prosecuted, convicted and jailed by magistrates based on the allegation that they have no means of livelihood. The

explanation of some of convicts that they had recently lost jobs was not taken into consideration by the trial Magistrates.” He disclosed that he had decided “to challenge such brazen violation of the fundamental right to personal liberty and fair hearing of those who have been illegally tried and convicted under the repealed vagrancy law in the Federal Capital Territory. “We hereby request you to use your good offices to direct all police commands in the country to desist from further arresting and prosecuting poor citizens for loitering or wandering. “If you fail to accede to our request within one week of the receipt of this letter, we shall pray the Federal High Court to compel the Nigeria Police Force to comply with the Minor Offences (Miscellaneous Provisions) Act forthwith.”

WELCOME TO ASO ROCK

President Muhammadu Buhari (right), receiveing former Head of State, General Yakubu Gowon (right), during a meeting at the State House in Abuja.....yesterday

APGA Petitions IG, DSS over Impersonation of Its Chairman Says Oye remains national chair Olawale Olaleye The national leadership of the All Progressives Grand Alliance (APGA), a major opposition political party in the country, has petitioned both the Inspector-General of Police (IG), Ibrahim Idris and the Department of State Services (DSS) over alleged impersonation of the national Chairma of the party by some persons, a majority of whom it said had been expelled from the party. Reacting to a report, which claimed that some members of APGA had begun to gravitate towards Chief Martin Agbaso as a likely alternative for APGA national chairman in the crisis believed to be plaguing the party, incumbent National Chairman of the party, Chief Victor Oye, who spoke

exclusively with THISDAY, said there was no such development in the party and was worried that such a report could find a space in news reporting. He said the degree of impersonation, especially by persons no longer known to the party had become worrisome that the party had to petition both the IG and the DSS, saying those now stoking crisis in the party or impersonating its leadership had been expelled since December 21, 2016, at a National Executive Committee (NEC) meeting of the party and witnessed by the Independent National Electoral Commission (INEC). He listed those expelled from the party at the December resolution to include the late Ozo Nwabueze Okafor, Jerry Obasi, Okechukwu Nkolagu, Ezienne Amaka-

Agbiogwu, Chuks Nwoga and Terry Geoffrey. According to him, Agbaso, who is now being touted as national chairman of the party is not even a member of APGA but the Peoples Democratic Party (PDP), adding that the scenario being painted is not only impossible but a major distraction to the party and a disservice to sound journalism. Citing Article 13 of the 2014 constitution of APGA as amended, Oye said only the national chairman of the party is empowered to convene meetings of the magnitude referred to in the story, adding also that the party is not patterned along local government structures for operational purposes. He explained that only three committees are empowered in the party to take critical decisions and

they are the national convention, National Executive Committee (NEC) and the National Working Committee (NWC), all of which are headed and chaired by himself as the national chairman. “So, who is else is empowered to take critical decisions in my absence? None! Wherever that story came from was only concocted by the writer and his sources and has no bearing whatsoever with the facts or the reality on the ground. “I say to you again, for the record, there is no crisis in APGA and those pushing those stories around are no longer members of the party. I am and remain the national chairman of APGA. We have petitioned the IG and the DSS to the effect of the growing impersonation and we are certain they will curb this shameless trend,” he said.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

NEWSEXTRA

House Directs Adeosun to Release N15bn Amnesty Funds Urges immediate constitution of Customs board James Emejo in Abuja The House of Representatives yesterday directed the Minister of Finance, Mrs. Kemi Adeosun, to release the balance of N15 billion contained in the 2016 Appropriation Act for the funding of the Presidential Amnesty Programme. It further mandated the Committee on Niger Delta Ministry to investigate the circumstances leading to funding constraints affecting the Amnesty Programme with a view to avoiding a reoccurrence and report back to the House within two weeks for further legislative action. The resolution followed a motion sponsored by Hon. Leo Ogor (Delta, PDP) on the need for intervention in

the non-release of funds for the amnesty scheme. Separately, the lawmakers further urged the Minister of Finance to urgently constitute the Board of the Nigeria Customs Service in a motion by Hon. Kingsley Chinda (Rivers, PDP). It also mandated the Committee on Customs and Excise to ensure implementation and report back to the House in four week for further legislative action. Meanwhile, Ogor, in his motion said there are monumental challenges facing the Presidential Amnesty Programme (PAP) due to scarcity of funds arising from delayed and staggered release of funds from the 2016 Appropriation Act by the Federal Ministry of Finance.

He said the situation has made it extremely difficult for the programme to meet its obligations to its workers and beneficiaries; The House further noted that 30,000 beneficiaries who are paid a monthly allowance of N65,000 are being owed 5 months arrears while debt to Universities in the country under the Education Programmes (Onshore) totaled N1,873,044,700, coupled with a backlog of unpaid In-Training Allowances amounting to N830,500,000. It said Educational

Programme (Offshore) was suffering equal problems as unpaid In-Training Allowances for 750 students between 2016 and 2017 stood at $4,200,000 (equivalent of N1,332,000,000); and unpaid tuition fee for 350 students amounting to the sum of$17,500,000 (equivalent of N5,512,500,000.00). The lawmakers were particularly concerned that 70 per cent of the 637 students in various institutions in 27 countries who are expected to graduate at the end of the 2016/2017 academic year may

not be able to do so for nonpayment of tuition fees, while currently, more than 80 per cent of them have been excluded from studies and risk repeating the whole academic session if the tuition fees are not settled urgently. Meanwhile, the House is also concerned that were the anomaly in the non-composition of the NCSB was urgently addressed, the whole essence of the Act establishing the agency would be defeated. It noted that the powers being exercised by the Customs,

Immigration and Prisons Service Board to appoint, promote and exercise disciplinary control over staff of the Nigeria Customs Service (NCS) are vested in the Board under Section 4 of the NCSB Act. Essentially, the Act empowers the board to among other things, “subject to the general control of the Minister, control and manage the administration of the customs and excise laws, and collect the revenues of customs and excise and account for them in such manner as the minister shall, from time to time, direct.”

Detained for 35 Days Without Trial, Suswam Asks Court to Order His Release Tobi Soniyi Former Governor of Benue State, Gabriel Suswam, yesterday filed a suit at the Federal High Court in Abuja, against the Department of State Services (DSS), its Director General and the Attorney General of the Federation for illegally detaining him for over 35 days without charging him to court. In a fundamental right enforcement suit filed yesterday on his behalf by Joseph Daudu (SAN), marked FHC/ABJ/CS/279/2017, Suswam is asking the court to order his immediate release. He also asked the court to order the respondents to pay for him exemplary damages in the sum of N10billion for his unlawful arrest and detention since February 25, 2017, without trial. By the suit, the applicant wants “A declaration that the arrest and detention of the applicant (Suswam) on February 25, 2017, till the date in Abuja by the operatives under the instruction of its director general without trial or due process being followed violates the applicant’s fundamental right to personal liberty guaranteed by Section 35(1) of the 1999 Constitution and Article 5 and 6 of the African Charter on Human and Peoples Rights (Ratification and Enforcement) Act Cap 10, Laws of the Federation of Nigeria 1990, and is therefore unconstitutional, null and void.” Among other reliefs, the plaintiff seeks, “A declaration that his continued detention by operatives of the DSS under the instruction and direction of the DG since February 25, 2017 till date, without trial or due process violates his fundamental rights to freedom of movement as guaranteed in Section 41(1) of the 1999 Constitution (as amended) and Article 6 and 12 of the African Charter on Human and People’s Rights (Ratification and Enforcement) Act Cap 10, Laws of the Federation of Nigeria 2004 and is therefore unconstitutional, unlawful, illegal, null and void.” Suswam also asked the court to direct the respondents particularly to release him forthwith or produce

him in court for purposes of his being released. An order of injunction restraining the respondents particularly the DSS whether by themselves or by their servants, officers, agents or privies or otherwise howsoever described from administering any form of torture, or inhuman or degrading treatment on Suswam and if proven to have been administered, to nullify any statements, documents or other materials that might have been extracted or obtained from the applicant under such “unwholesome and constitutionally prohibited circumstances.” More so, Suswam prayed for an order compelling the respondents to forthwith release him unconditionally from unlawful detention pending (if any) the commencement and final determination of a trial for any offence or offences with which the respondents or the federal government might wish to charge him. Suswam predicated the suit on the grounds that on February 25, 2017, he was arrested and detained by the DSS in respect of a purported allegation that he is in possession of fire arms. He stated that since his arrest, he has been in custody of the DSS without being charged to court. In addition, he is contending that his continued detention has seriously affected his health which is deteriorating on a daily basis due to lack of access to medical care. “That the period of his arrest and detention without bail offends the provision of Section 35 (5) (a) and (b) of the 1999 Constitution as amended. “That the DSS is required by law to charge him to court within a reasonable time before a competent court of law. More so, Suswam posited that no specific allegation of a crime or an offence has been levelled against him, adding that he has not been confronted with the allegations by his accuser(s) if any, since detention. No date has been fixed for the hearing of the matter.

HONOURS FOR HARD WORK

L-R: Oyo State Governor, Senator Abiola Ajimobi; Chairman, House of Representatives Committee on Rural Development, Hon. Oladipupo Adebutu; Governor of Ekiti State, Mr. Ayodele Fayose; former Minister of Education, Mallam Ibrahim Shekarau; and Vice Chancellor, Ekiti State University, Prof. Samuel Bandele, at the 22nd convocation ceremony of the university and conferment of Doctor of Public Administration (Honoria Causa) on Ajimobi, AdebutuandothersinAdo-Ekiti.....yesterday

Oyo-Ita Keeps House on Edge over Directive on Perm Sec’s Tenure Extension Olawale Ajimotokan in Abuja The Head of Civil Service of the Federation (HoS), Mrs. Wilfred Oyo-Ita, has failed to comply with the directive of the House of Representatives on the illegal tenure extension of the controversial Permanent Secretary of Ministry of Education, Dr Jamila Shu’ara. The House Committee on Basic Education had last Thursday, determined that Shu’ara’s one year service tenure extension contravened the civil service law given that she was due for retirement in February 2016, as she was 61 years-old and had attained the mandatory 35 years in service. Subsequently, the committee headed by Hon Zakari Mohammed, directed Oyo-Ita to recover all emoluments plus other benefits paid to Shu’ara since the aforementioned period to government coffers. The House asked her to report back in four weeks. But by yesterday, there were no signs that Oyo-Ita had complied with the instructions by the representatives to invoke

the relevant rules to recover all the emoluments paid to Jamila Shu’ara for the period of her tenure’s extension. The Director Communications in the of Office of Head of Civil Service, Haruna Imrana, simply said there was no way the HoS would have complied with the directive as the time was still short, when our correspondent sought to establish if she had followed the order. Imrana insisted the letter to her on the issue was only served last week. According to him, Oyo-Ita only had two working days - Friday and Monday-to comply with the order was which was served on Thursday March 30. “The HoS was only served at the end of the week. So you people expected her to comply without allowing bureaucracy to work. How long will it take for a letter from the National Assembly to reach here? And how long will it take for the implementation of the order? Imrana said in rage. He declined our correspondent’s request for an appointment with Oyo -Ita.

He lamented that the HoS had been at the receiving end of negative media reports since the Shu’ara saga began to unfold several weeks ago. The HoS always insisted that Section 171( 2) the constitution empowered the president to appoint top officials of government, including permanent secretaries. But the House Committee

disagreed by saying that the 1999 Constitution (as amended) did not empower the president to extend the tenure of a permanent secretary, that retired in 2016 and was no longer in service. The lawmakers were miffed that Shu’ara had got two tenure extensions in breach of civil service rules.

Three Officers Suspended over Ngilari’s Release from Prison The Civil Defence, Fire, Immigration and Prisons Services Board (CDFIPB) has suspended three senior Prisons officers, CP Peter Yeni Tenkwa, DCP Abubakar Abaka and SP John Bukar, indicted for their complicity in the issuance of unauthorised medical report on Bala Ngilari, the former Governor of Adamawa State, serving a five-year jail term in Yola prison. The letter dated April 3, 2017, and signed by the Director and Secretary of the Board, Mr. Sunday

Dan Ogu, FCAI approved the suspension of the officers pending the outcome of all necessary investigations into the matter. A new controller and officer in-charge have been posted to take over the state command and Yola prison respectively, including a medical doctor to oversee the prison clinic. The officers have since resumed duties. The former governor was convicted and released from prison under controversial circumstances and is said to be on the run.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

NEWSEXTRA

UK Court Acquits NNPC of $100m Bank Guarantee Payment to IPCO Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) yesterday disclosed that it had secured

a unanimous judgment from the Supreme Court of the United Kingdom, granting it reprieve from paying $100 million bank guarantee to an oil

House Urges FG to Reverse Directive on Non-Agric Courses inVarsities Mandates JAMB to extend registration date James Emejo in Abuja The House of Representatives yesterday called on the federal government to reverse the presidential directive issued to the three specialised Universities of Agriculture to scale down and gradually wind down nonagricultural programmes. It also called on the Federal Ministries of Education and Agriculture and Rural Development to immediately halt the implementation of the directive pending a comprehensive appraisal of the rationale behind the directive by stakeholders. Following a motion sponsored by Hon. Sam Onuigbo (Abia, PDP), the lawmakers further urged the Joint Admissions and Matriculation Board (JAMB) to stop action on the delisting of non-agricultural courses of Management Sciences at the Michael Okpara University of Agriculture, Umudike, Abia State to enable candidates to continue to enroll in those courses in the forthcoming matriculation examinations pending the resolution of the matter. To this effect, the House further approved the setting up of an adhoc committee to investigate the scenario and report back in two weeks for further legislative action. Onuigbo had argued that the synergy between core and noncore agricultural programmes has universal appeal as several countries across the world have Universities of Agriculture that offer programmes in agriculture and allied subjects including Alabama Agricultural and Mechanical University, South China University, University of Agriculture

Peshawar, Pakistan, Kuban State Agrarian University, Russia, Jomo Kenyatta University of Agriculture and Technology, Kenya, among others. He told THISDAY only the National Universities Commission (NUC), as apex regulatory body has the power to approve and disapprove of programmes offered by the universities and wondered why due process was sidelined while the federal government, by a stroke of pen decided to cancel the programmes duly approved by the NUC. Meanwhile, the House yesterday also mandated the Committee on Tertiary Education and Services to direct the JAMB to extend the one month deadline by at least another month for the registration of candidates for the Unified Tertiary Matriculation Examination (UTME) in order to create more space for prospective applicants. Following a motion by Hon. Danburam Abubakar Nuhu, need to extend the UTME registration and exercise of safety measures during the examinations by JAMB. The House also urged the examiner to deploy safety equipment at each center to forestall any incidentof stampede due to overcrowding. It specifically directed JAMB to specify the requirements including safety measures, which qualify any center to participate in the conduct of UTME Computer Based Test. The House noted that in the 2016 UTME exercise, about 1.6 million applicants registered out of which about 1million passed while the 2017 exercise might reach two million across the country given the growing number of applicants.

Bill Seeking to Define Conditions forVote Transfer Scales Second Reading in House James Emejo in Abuja The House of Representatives yesterday at plenary, passed for second reading a bill for an Act to alter Section 221 of the 1999 Constitution to make the votes scored by a candidate sponsored by a political party the votes of the candidate and limit the transfer of votes scored by one candidate to some other person and for other related matter. Essentially, the bill seeks to making or retain the existing provision as subsection (1) of the constitution and adding a new subsection (2). The new amendment shall read: “221(2) Notwithstanding the provisions of subsection (1)above, the votes scored by a candidate nominated and sponsored by a political party belongs to the candidate specifically sponsored for the said election and it is not transferable to another candidate, except where the sponsored candidate is a presidential or

gubernatorial candidate who dies during an ongoing election and his vice or deputy as the case may be shall complete his poll.” Notably, the constitutional amendment is geared towards the proposed amendments which the House is seeking to effect in the Electoral Act to define conditions that would warrant vote transfer in an election. It would be impossible to amend sections of the Electoral Act without first amending the constitution and the latter has equally scaled second reading in the House. Nevertheless, the bill for an Act to amend Section 221 of the construction was sponsored by Hon. Karimi Sunday (Kogi, APC). According to him, the bill seeks to discourage political party tyranny by making votes scored by a candidate in an inconclusive election the votes of the candidate. It further prohibit the party from transfering the said votes to another party in a supplementary election.

service company, IPCO Nigeria Limited, in a case filed against it by the firm. The corporation said in a statement from its Group General Manager, Public Affairs, Mr. Ndu Ughamadu, in Abuja, that the reprieve was the latest in its protracted dispute with IPCO over a contract for the construction of the Bonny Export Terminal (BET) project in Port Harcourt. The statement noted that IPCO had referred its claims to arbitration in Nigeria and obtained an arbitral award of $154 million in 2004, with annual interest running at 14 per cent, thus leaving NNPC with no option than to promptly challenge the award at the Federal High Court in Lagos. According to it, IPCO has since 2004, repeatedly sought to enforce the award in England prior to the conclusion of NNPC’s challenge of the arbitral award in Nigeria. It said during one of IPCO’s attempts to secure an order for the enforcement of the award in the UK in 2008, NNPC

discovered evidence that IPCO had forged documents relating to the claims and the related arbitration in Nigeria, and as a result, the parties agreed in 2009 to adjourn the enforcement proceedings in England, in order to await the determination of the fraud allegations in Nigeria. In 2012, the statement noted that IPCO again applied to the English Commercial Court to enforce the award despite the agreement on the adjournment of the enforcement action, but its application was dismissed on March 14, 2014. IPCO subsequently appealed the dismissal at the UK Court of Appeal, and in 2015, the UK Court of Appeal decided that the delays in the Nigerian proceedings required the English Court to lift the adjournment and to decide whether to allow enforcement following a trial of the fraud allegations in the English Court. NNPC stated that both the Commercial Court and, the Court of Appeal concluded that the fraud allegations against IPCO were made bona fide, and

that it has a good prima facie case that IPCO practised a fraud on the arbitral tribunal based on which the whole award should be set aside. It however said the UK Court of Appeal ordered it to provide an additional security of $100 million even though NNPC had previously provided security of $80million, as a condition of being entitled to advance a defence that enforcement should be refused because the award had been procured by IPCO’s fraud. The corporation said it subsequently appealed to the UK Supreme Court to decide whether the English court, as an enforcing court, is empowered to require security for money payable under the award or any part thereof from a party resisting enforcement of such award as a condition for being entitled to advance a good and arguable defence. According to it, the UK Supreme Court unanimously set aside the Court of Appeal’s Order on March 1, 2017, thus

allowing it to advance its defence in the English Commercial Court free of any such conditions. The statement explained that NNPC was represented by the UK law firm of Messrs. Stephenson Harwood LLP, and Nigerian law firms of Messrs. Babalakin & Co. and Messrs. Abdullahi Ibrahim & Co in this. It also noted that its Group Managing Director, Dr Maikanti Baru, was delighted with the new development, and efforts would be made to extricate NNPC from encumbrances that may impede its access to hard earned funds which are much needed to execute developmental projects by the various tiers of government in the country. The statement further noted that the court has not only discharged NNPC from the responsibility to sustain the additional security of $100million in favour of IPCO but also reiterated the finding of the English Commercial Court and the Court of Appeal that NNPC has a good prima facie case that IPCO procured the arbitral award by fraud.

DIPLOMATIC MATTERS

L-R: Federal Commissioner for Refugees, Migrants and Internally Displaced Persons, United Nations High Commissioner for Refugees (UNHCR), Hajiya Sadiya Umar; UNHCR Representative to Nigeria and ECOWAS, Mr. Jose Antonio Canhandula; and Minister of Foreign Affairs, Mr. Geofery Onyeama, during the official presentation of letter of commission by the High Commissioner to the minister in Abuja .....yesterday Enock Reuben

CAC Introduces 24-hour Company Registration Process The Registrar-General Corporate Affairs Commission (CAC), Mr. Mahmud Bello, has said the commission has started operating 24 hours company registration process to make startup of business easier in Nigeria. Bello said this at the CAC Customers’ Forum in Kano, organised in collaboration with the Presidential Enabling Business Environment Council (PEBEC). The registrar-general made this known in a statement yesterday in Abuja He said the aim of operating the new system was to ensure that business owners in Nigeria

conveniently registered their businesses online within 48 hours. According to him, series of reforms have been implemented by the commission this year to make it quicker, cheaper and more convenient for Nigerians to start businesses. “CAC, as an agency of government involved in the startup of business, has keyed into the federal government’s vision to make Nigeria an easy place for businesses to start and thrive. “Our reforms are designed with the MSMEs in mind. For us, a customer is a king and must be treated with royalty,” Bello said.

Bello said manual application and registration processes would be gradually phased out in the course of the year. According to him, the manual registration phase out will start with Lagos and Kano as from April 30, where all submissions should be done online. Also, the Secretary of PEBEC, Dr. Jumoke Oduwole, said the council was committed to providing complete support to CAC and all other MDAs to implement the reforms. According to Oduwole, the reform is to actualise the

federal government’s mandate of making businesses work in Nigeria. The high point of the event was a demonstration session by the commission on its latest reforms such as document upload interface which enabled e-submission of registration documents in CAC registration portal. The demonstration also involves the integration of the FIRS e-payment solution into the portal to enable e-stamping. Accordingly, the participants were given a walk-through of the public search window and the single incorporation form.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

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Tension in Ekiti as Muslims Protest Proposed Demolition of Mosques Our action not vindictive, govt replies Victor Ogunje in Ado Ekiti There was tension in Ado Ekiti, the Ekiti State capital yesterday, as Muslims protested the proposed demolition of mosques built within the premises of petrol stations across the state. Particularly, the government is starting with a petrol station built by Alhaji Suleman Akinbami at Adebayo area of Ado Ekiti. The Muslims under the aegis of National Council of Muslim Youth Organisations (NACOMYO), described the proposed demolition

as an attempt to oppress them by the government of Mr. Ayodele Fayose. The mosque, according to them, was built by a petrol dealer, Akinbami, within the premises of his petrol station in Adebayo and donated to Muslim community. However, the commissioner denies that the demolition was targeted at any person, saying “it was done to save lives. How can anybody get approval for the building of a petrol station and later build a religious centre inside. This is not about mosques, churches too

Federal Lawmaker Tasks Ambode, Others on Adequate Security in Epe Sunday Okobi The member representing Epe federal constituency of Lagos State in the House of Representatives, Wale Raji, has called on the state Governor, Akinwunmi Ambode, to urgently increase security around riverine communities in Epe Local Government Area in order to address the menace of kidnapping and other criminal activities in that axis of the state. Reacting to a distress message to the state and federal governments by the Onise of Ise Town, Oba Abdulaganiyu Adebowale Adegbesan, he disclosed that he was working on a bill to ensure

will be pulled down if found in such situation.” It was gathered that the Commissioner for Lands, Mr. Taiwo Otitoju, had visited the mosque at about 5p.m. on Monday and marked it for demolition, on the grounds that worshippers can contact cancer from the radioactive emission from the petrol station. The youth marched from the Central mosque at Oja Oba to Odo Ado Area to brief the Chief Imam of Ekiti State, Alhaji Jamiu Kewulere, before taking a detour and moved to the palace of Ewi, Oba Rufus Adeyemo Adejugbe and Adebayo area, where the mosque was located. Addressing the protesters, the Grand Imam promised that he

would continue to liaise with the government for peaceful resolution of the issue. “Islam is a religion of peace and we have respect for leadership, so I beg that you allow the Muslim leaders to look into this matter. We don’t want you to take the laws into your hands because this state belongs to all of us. “We are going to meet with the governor to actually get the true position of things and we will do all that we need to do for peaceful resolution of this issue,” he said. The Coordinator of NACOMYO in Ekiti, Mr. Tajudeen Ahmed, described the situation as akin to adding insult to injuries, saying Fayose could not afford

to do this to them after allegedly shortchanging them with low appointments of Muslims in his government. Ahmed accused Fayose of taking the action for political reasons, urging him to have a rethink in the interest of peace. “The proposed demolition is curious and we see it as an attempt to further oppress us. Governor Fayose made appointments and he put very abysmal numbers of Muslims into his government despite that we constitute 35 per cent of the population in Ekiti. “We are not violent people and e believe in leadership. We want to plead with Fayose to reverse this action. How can a

mosque located behind a petrol station constitute a health hazard to worshipers? Besides, it has been in existence for over a decade and if it can affect the worshipers, what would then happen to those selling the product?”, he asked. He added: “If truly this issue is not having political undertone, why did the government fail to issue requisite notices ? Islam is not a riotous organisation, we will continue to dialogue but this action is worrisome,” he said. Akinbami, who is the Secretary of Independent Petroleum Marketers Association of Nigeria (IPMAN), has been having a running battle with the governor over the latter’s attempt to demolish petrol stations built in residential areas.

protection of lives and property of his constituents who live in riverine settlements. In a chat with journalists yesterday in Lagos, Raji urged the residents to be law-abiding, just as he pleaded with the governor and the state commissioner of police to tighten security in the area. The federal lawmaker charged security operatives to be alive to their duties of protecting lives and property from aggressors, including kidnappers, all times. The appeal followed the high rate of abduction in Epe town, the latest victim being a 42-year-old plank seller, Ademola Salami, who was kidnapped last weekend.

Fire Razes Kaduna Zonal Office of WAEC John Shiklam in Kaduna The Kaduna Zonal Office of the West African Examination Council (WAEC) located in Kawo area of the metropolis was gutted by fire yesterday. The Zonal Deputy Registrar of the council, Mr. Fidelis Gaya said eight offices in the exam record section and the administrative office were affected by the incident which occurred around 9a.m. He said although no life was lost

in the incident, six computer systems with vital information as well as documents, furniture and personal belongings of staff were destroyed. The arrival of fire fighters was said to have helped in preventing the fire from spreading to other offices. Source said the fire may have been caused by electrical fault, but Gaya said investigations will soon commence to determine the cause of the fire.

Plateau Assembly Deputy Speaker Impeached Seriki Adinoyi in Jos Plateau State House of has impeached its Deputy Speaker, Mr. Yusuf Gagdi, representing Kantana constituency of state, Gagdi, who was elected on the platform of the Peoples Democratic Party (PDP), only decamped to the All Progressives Congress (APC), a development that drew the wrath of the PDP in the state. He had also recently been threatened with recall by his constituents over claims of insecurity and Boko Haram in Kanam Local Government Area of the state. Gagdi, was removed from office yesterday after the Majority Leader, Mr. Henry Yunkwap, read the impeachment notice signed by 18 of the 24 members on the floor of the assembly. According to the majority leader, the impeachment notice followed

a vote of no confidence on Gagdi. The Clerk of the assembly, Ayuba Gongu, verified and confirmed the signatures of the legislators that signed the notice. And Gagdi was immediately impeached and replaced with Mr. Sale Yipmong, a member from Dengi constituency, who was equally sworn in on the spot. His replacement followed a motion by the member representing Quapan North Constituency, Mr. Eric Dakogol. Commenting on his impeachment in an interview with journalists shortly after the assembly session, Gagdi said he was happy that his removal was not linked to any fraud, saying he believed it was done in good fate. The new deputy speaker pledged to work for the progress of the entire state.

YOU DID THE POLICE PROUD

L-R: Imo State Deputy-Governor, Prince Eze Madumer; Out-going state Commissioner of Police, Mr. Taiwo Lakanu; Governor Rochas Okorocha; In-coming Commissioner of Police, Mr. Chris Okey Ezike, when senior government functionaries and other heads of security agencies in the state met to bid Lakanu farewell in Owerri...Monday

FG Makes U-turn, Says Orubebe Did Not Divert N1.9bn Judge strikes out case against him Tobi Soniyi An Abuja High Court sitting at Apo has struck out a six-count charge filed against a former Minister of Niger Delta Affairs, Elder Godsday Orubebe, by the Independent Corrupt Practices and Other Related Offences Commission (ICPC) over alleged N1.97billion with regard to the construction of the East-West Road. Justice Olukayode Adeniyi who struck out the case, also discharged and acquitted the defendants, after the charge was withdrawn by the prosecution. The charge was withdrawn on a day the court earlier gave the anti-graft to produce its witnesses to establish that Orubebe, who served under ex-President Goodluck Jonathan, diverted funds meant for the compensation of owners of properties on Eket Urban section of the East-West Road in Eket, Akwa Ibom State. Other defendants in the charge were an Assistant Director at the Ministry of Niger-Delta Affairs, Mr. Oludare Davis Alaba, and

the Director of Contracts, Gitto Costruzioni Generali Nig. Ltd, Mr. Ephraim Towede Zari. However, shortly after the defendants were arraigned, the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN), in a letter to the Chairman of the ICPC, with Ref No. DPPA/ MNDA/345/16, confirmed that the N1,965,576,153.46, which Orubebe was accused of diverting, “has not been expended, but awaiting further contract decisions and directives from the Ministry of Niger-Delta Affairs.” The AGF in the letter dated December 16, 2016, and signed by the Director of Public Prosecution of the Federation, Mr. U.E.Mohammed, read: “In view of the above, the basis for the prosecution of the accused persons for misappropriation does not exist and thus, further prosecution cannot be justified.” At the resumed sitting on the matter, though the ICPC, through its counsel, Mr. Ekoi Akpos, applied to withdraw the charge, it however insisted that

the decision was not premised on the letter from the AGF. The prosecution counsel saaid the commission decided to terminate further proceeding on the case following an understanding from all the parties that the road construction project would proceed as originally planned with compensation paid to those whose properties were damaged. The ICPC lawyer hinged the application to withdraw the charge on sections 492(3) and 355 of the ACJA, 2015. Orubebe was in the charge, accused of “diverting the sum of N1, 965,576,153.46 out of the sum of N2, 320,686,826 initially released by the federal government for the compensation of owners of properties on Eket Urban section of the East- West Road. As well as, “Conferring unfair advantage upon Gitto Costruzioni Generali Nigeria Limited, by circumventing the approval of the Federal Executive Council (FEC) for the dualisation of the Eket, Urban road where the former Minister`s decision to rehabilitate the road instead of dualisation falls contrary

to the award letter No.WR14522/ VOL.1/55 dated 28/09/2006 as approved by the FEC.” All the defendants had earlier pleaded not guilty to the charge and were granted bail. Meanwhile, reacting to the development after the proceeding, Orubebe said he was grateful to God, saying all the travails he had passed through upon exiting office, had made him stronger and more determined to serve the people. He said: “I came into government to serveNigeriaandNigerians. There is no doubt that I was one of very few persons that were very close to former President Jonathan. “I was exposed to power and resources, but I never abused them. Upon becoming Minister in 2007, I told God I would not put my hand in anything that will disappoint him. “I served this country with total commitment. Today is one of my happiest days and I give God that glory. I want to appreciate Nigerians that stood by me and promise that if in future I have opportunity to serve them, I will not disappoint.”

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SON Seeks to End Glut in Egg Markets Crusoe Osagie The Standards Organisation of Nigeria (SON) has advised poultry farmers across the country to channel their energies towards increased production of egg powder as one of the ways out of the current glut in the egg market. Egg powder production requires special machines which process egg from its original form to powder for other uses. Experts believe that this is one of the ways to end the glut and expand the egg markets in Nigeria. The Director-General of SON, Osita Aboloma, who stated in Kaduna at a training organised for Poultry Farmers Association (PAN), Kaduna chapter and other poultry and allied stakeholders, maintained that egg remains an important food for consumers across the country. As one of the major ways to end the prevailing glut in the egg market, the agency has charged poultry farmers to embark on capacity building and diversification of egg powder production. He called for adherence to standards in the production, grading and storage of egg to boost high patronage of the product across the country. Aboloma who was represented at the event by Mr Danlami Datti, SON State coordinator, Kaduna said the workshop was aimed at assisting stakeholders achieve best practices in the sector thus enhancing value addition, which would also impact positively on

demand thereby enhance growth. According to him, semiprocessing of egg into powder would help to reduce glut in the market and price disparity in the system, thereby enabling farmers have competitive pricing for their produce.He said it would also create more jobs, adding that the SON was ready to assist farmers in his regard. On the training, the SON Director General said the objective was to ensure that farmers adhered to the basic standards in poultry farming especially with particular reference to production, grading and storage. He added: “We want farmers to know that there are standard rules to adhere to and best practices that can help advance the sector. It is in the interest of both the farmers and consumers of the product”, he said. The DG also charged farmers on the need to ensure the packaging and grading of eggs for sale according to approved codes of practice adding that, “Sorting ensures that eggs of the same size are packaged together thus ensuring that consumers have value for their money”. He stressed that the SON was ever ready to support farmers as well as Small and Medium Enterprises (SMEs), to improve standards, build their capacity and to sell, so that the job creation commitment of the current administration would be achieved. The agency had in recent times intensified its efforts towards

supporting various sectors of the economy to enhance their potential, through the deployment of relevant standards. Aboloma posited that once standards are improved and adopted across various sectors, it would lead to increased demand for Nigerian products in both the local and international markets,

improve the overall capital stock of firms and products’ availability. He said the organisation recently conducted a programe for the agroallied sector across the geo-political zones in the country, with the desire to stimulate the economy. “SON’s desire is to play its part towards harnessing the huge potentials of Nigeria”

“Top on my agenda is to ensure Nigeria’s products are certified for export to avoid rejection, enhance MSMEs capacity and boost ease of doing business.’ Aboloma explained. In his reaction, the Kaduna state chapter Chairman of PAN, Ishaku Dogo, expressed happiness about the training,

saying it had opened their eyes to pertinent standardisation issues concerning their sector. He said the farmers realised that standards are important to the success of poultry business. Dogo implored the SON to replicate the training in other states of the federation, to ensure that more farmers are better informed.

‘US Endorsement of Nigeria’s Counter-Terrorism Strategy, Boost to Our War against Boko Haram’ Sunday Okobi Concerned Professionals’ Congress (CPC) has lauded the recent endorsement by the United States of America of Nigeria terrorism strategy, describing the move as capable of enhancing and consolidating the nation’s image as a leading figure in the global coalition against terrorism and violent extremism. CPC also noted that it would ultimately boost the morale of troops currently engaged in the final operations to rid the North-east of the scourge of Boko Haram terrorism. The group in a statement issued and made available to THISDAY yesterday by its National Coordinator, Musa Tukur Tilde, and the Chief Media Strategist, Emeka Nwapa, was reacting to remarks in Washington D.C by the US Secretary of State, Mr. Rex Tillerson, recently while welcoming to Washington D.C, venue of the World Conference on

Global Coalition Against Terrorism, Chiefs of Defence Staff of over 200 countries, including Nigeria’s Chief of Defence Staff (CDS), General Abayomi Gabriel Olonishakin. Tillerson, in his opening remarks while emphasising the need for intelligence and information-sharing in combating terror, averred that Nigeria and West Africa have done very well using synergy, intelligence and information sharing to halt terrorists attacks thereby defeating Boko Haram. He urged countries with challenges of domestic terrorist groups to build and adopt the excellent examples of synergy, intelligence and information sharing system which Nigeria employed to win the war against Boko Haram. CPC, Nigeria’s foremost advocacy group, mobilising public support for the military’s counter-terrorism war as well as promoting democracy, good governance, maintained that the

US public praise of President Muhammadu Buhari’s strategy to defeat Boko Haram is highly commendable. According to the statement, “To President Buhari whose uncommon zeal, sincerity, commitment and clearheadedness on how to defeat Boko Haram within 18 months in office, we say a big thank you. “To the Nigerian delegation to the Washington counter-terrorism summit led the CDS, General Olonishakin, whose purpose-driven leadership of the armed forces anchored on synergy and doggedness in actualising the President’s objectives, we say big kudos. “To our courageous and gallant troops and the commanders of Operation Lafiya Dole, both fallen or standing, may God bless you all for doing us very proud.’’ The group pointed out however that it was the entire Nigerian people who the US singled out at the world conference for recognition

and commendation. Recalling that not too long ago, President Buhari had received a phone call in London from President Donald Trump who commended Nigeria for her giant counter-terrorism strides, the group noted that at the last 71st United Nations General Assembly in New York late last year there was also an unprecedented endorsement from former US President Barack Obama who openly praised President Buhari and the gallant Nigerian military for defeating Boko Haram. “It is worthy of note that these endorsements of Nigeria’s successful counter-terrorism strategy by two successive bipartisan political dispensations in the US in a space of three months is perhaps Nigeria’s greatest achievement now. It is our greatest feat as a nation of hope and promise against threats to our national unity, security, stability and prosperity,” CPC said.

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

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Airlines’ Debts to NCAA Rise to N15bn Agency insists on automation of payment system Chinedu Eze The Nigerian Civil Aviation Authority (NCAA) has said the

debts owed it by domestic airlines have risen to over N15 billion. To stop the accrual of further debts, the authority has insisted

Okowa Wins the Mandela Medal on Human Rights Omon-Julius Onabu in Asaba Delta State Govenor, Dr. Ifeanyi Okowa, has been awarded the prestigious Nelson Mandela Medal on Human Rights for his commitment to the protection of the rights of the people. He was awarded the ‘Order of the Pride of Africa and the 2016 Mandela Medal for a Long Walk to Freedom Awards’. The award to Okowa is seen as an acknowledgment of the governor’s citizen empowerment programmes especially in the area of employment through creation of job opportunities for the people of his state. Governor General for Africa, International Commission of Diplomatic Relations, Human Rights and Peace Ambassador for the African Region-International Human Rights Commission, Joseph Rankin, presented the awards to the governor yesterday at the Government House in Asaba. The brief ceremony was witnessed by the wife of the governor, Mrs. Edith Okowa, as well as several top government functionaries. In his remarks, Rankin noted that “the Mandela Medal is awarded to an individual who has made an outstanding contribution to the advancement of human rights in Africa; the African region headquarters of the International Human Rights Commission, Geneva, Switzerland has established this award to honor and give public recognition to an individual that has made an exceptional contribution to the advancement of human rights on the African continent.” He further explained the process for the award that “nominees for the award must have made substantial and long-term contributions in furtherance of civil rights, civil liberties, human rights on the African continent. “The Mandela Medal is the pinnacle of human rights recognition in Africa. We are in Asaba, the capital of Delta State, in

Nigeria to honour and commend a great achiever who has made an outstanding contributions to the promotion and protection of the human rights embodied in the Universal Declaration of Human Rights and in other United Nation’s Human Rights instruments.” According to him, Okowa’s selection followed a meticulous process carried out by a special committee comprising the General Assembly members of the IHRC and the Economic and Social Council of the International Commission of Diplomatic Relations, Human Rights and Peace, noting that the creation of job opportunities through skill acquisition programme of the state government that will make the beneficiaries millionaires within a decade was laudable. Rankin further noted that apart from job creation, which Okowa’s administration has done very well through the Job Creation Office, the administration had also put structures in place to ensure that the rights of the citizens are protected. Responding, Okowa said: “I feel honoured to receive this award, and more so when it has to do with our departed father, Dr. Nelson Mandela. We know what he represented when he was alive, and all over the world, we know that he is a symbol of human rights and what it is supposed to be in this age today. “There is no doubt that in Africa, particularly Nigeria and our dear state in particular, that the issue of poverty and underdevelopment in the land has to be addressed; it may not be possible to address everything in one day or two, even in a year or a tenure, but we must continue to play the very little roles that we can consistently play and stay focused on the goal if we must get our people out of where they are at the moment and therefore we must continue to promote good governance,” the governor said at the occasion, adding that the peace building efforts of his administration had started yielding positive results.

Dabiri-Erewa Laments Deaths of Nigerians in Mediterranean Sea Alex Enumah in Abuja The Senior Special Assistant to the President on Foreign Affairs and Diaspora, Abike Dabiri-Erewa, has commiserated with the parents and families of victims of the latest Mediterranean Sea boat mishap, and prayed God to give them the fortitude to bear the loss. In a statement signed by her Media Aide, Abdur-Rahman Balogun, Dabiri-Erewa described the deaths of the young Nigerians in the latest boat mishap “unfortunate, tragic and preventable.” She expressed sorrow over promising young Nigerians who embark on such dangerous journeys, in search of greener pastures and ended up faced

rather with hopelessness, torture, despair and sometimes death, as in this case. She said: “It is tragic and lamentable! It is just not worth it ultimately. There has to be sustained awareness campaigns on the dangers inherent in such journeys. “Migration policies are getting tougher all over. In Germany alone, there are about 12,000 Nigerians seeking asylum and they will not be granted. They are likely to be deported.” According to the International Organisation of Migration (IOM), 128 migrants, including Nigerians and other West Africans, died while crossing Mediterranean Sea to Europe between March 6 and 26, 2017.

that airlines must embrace the Aviation Revenue Automation Project (ARAP), which would automatically remit the five per cent ticket and cargo sales charges (TSC) to the coffers of the agency. The domestic carriers through the Airline Operators of Nigeria (AON) had urged NCAAto suspend the automation of the payment system until the parameters for the deduction of the charges are clarified. NCAA in a statement signed by its spokesman, Sam Adurogboye, said yesterday that there was no going back on the automation of the remittances by the airlines. “NCAA has stated unequivocally that there is no going back on its earlier directive on automation of remittance of the five per cent ticket and cargo sales charges. Therefore, any airline that fails to comply will be viewed seriously by NCAA. For the purpose of clarity, the regulatory authority wishes to state that the five per cent ticket

and cargo sales charges are revenue accruable to the aviation agencies through NCAA. This is contained in Part V Section 12(1) of the Civil Aviation Act 2006. This section merely mandates the Airlines to collect the charges paid by the passengers on behalf of NCAA and remit same appropriately and in real time which has not been so,” the agency said. The authority said there was no ambiguity with regards to the components of the billing of the charges, noting that part 18.12.4. of the Nigeria Civil Aviation Regulations (Nig.CARs 2015) clearly provides that “the five percent air ticket sales charge shall be based on the total cost of travel paid by passengers to the airline. This shall be the cost of ticket inclusive of fuel surcharge or any other charge added to the total cost of travel by the airline exclusive of government value added tax (VAT) or any other tax that may be imposed by

government from time to time.” For the avoidance of doubt, NCAA urged that all airline operators should be guided by Part 18.12.5.which says, “All domestic and international airlines operating in Nigeria shall forward to the authority through an electronic platform provided by the Authority, all relevant documents such as flown coupons, passenger or cargo manifests, air waybills, load sheets, clients’ service invoices and other documents necessary for accurate billing within 48 hours after each flight.” NCAA noted that in realisation of this, the federal government approved the introduction of ARAP for revenue collection to aid data integrity, transparency, transaction accountability, controls and revenue assurance to the authority in 2011 at no cost to the operators. “To facilitate easy and seamless remittance; therefore, part 18.12.6. said, ‘all Nigerian licensed airlines shall join the IATA/BSP (International

Air transport Association/ Billings and Settlement Plan) for the purpose of remittance of 5 percent sales charges, and shall execute a contract to that effect.’” It, however, explained that as domestic airlines have not joined the IATA/BSP, “the Aviation Revenue Automation Projects is an alternate means of compliance to smooth remittance provided by the Authority in line with Federal Government’s directive.” “It is pertinent to point out that NCAA is an autonomous regulatory agency therefore it continues to remain solvent by cost recovery in line with ICAO (the International Civil Aviation Organisation)Standard and Recommended Practices (SARPs).This can only be derived from the 5 percent ticket and cargo sales charges statutorily,” adding that the directive to automate covered both domestic and foreign airlines, but the foreign airlines have complied fully by remitting their collections through the IATA/BSP.

APC AFFAIRS

Senate President, Dr. Abubakar Bukola Saraki (right), and National Chairman of the All Progressives Congress (APC), Chief John OdigieOyegun, during a meeting between the leadership of the APC and the party caucus in the Senate in Abuja....yesterday.

Okorocha Extols Outgoing CP, Lakanu Amby Uneze in Owerri For fighting all criminal activities head long in Imo State, the state Governor, Rochas Okorocha, last Monday night led other senior government functionaries to shower encomiums on the outgoing state Commissioner of Police, Mr. Taiwo Fredrick Lakanu, who is now on transfer and has been promoted to the rank of an Assistant Inspector General of Police (AIG). Okorocha, expressing satisfaction on the achievement of the outgoing state police commissioner, described him as an exemplary police officer who came to the state and worked in collaboration with the people of the state to achieve huge success in the area of security. The governor and his cabinet members had met to bid farewell to Lakanu who is on transfer to the Force headquarters at the Sam

Mbakwe Executive Chambers. In attendance were the in-coming state Commissioner of Police, Mr. Chris Ezike; the Commander, 34 FAB, Obinze, and all the heads of other security agencies in the state. At the emotion-laden event, Okorocha said the state and the people could not thank Lakanu enough because, according to him, “he came to the state, he saw and he conquered,” and the governor then lavished the out-going CP with gifts ranging from land to cash. He named a road at the back of the police headquarters, Mr. Taiwo Lakanu road, gave him a choice land at Shell-Camp Owerri worth over N25 million; gave him N5million to fuel his car, and asked him to name any part of the state he would like to live even after his retirement from the Police force. The governor also announced that the Imo people would decorate

Lakanu with Imo Merit Award, adding that honour should be given to whom honour is due, and that Lakanu had done well as Commissioner of Police in the state so any honour done to him should be seen as well deserved. According to him, “I want to thank you for the services you rendered to Imo State and her people. What made you outstanding is that your job comes first before money. Your success came because money never counted in your willingness to succeed. You have set a very high standard for the in-coming commissioner of police. Now Imo people will judge commissioners of police from your standard. I hope and pray that the new CP will measure up.” The Deputy Governor, Prince Eze Madumere; Chief Judge of the state, Justice Pascal Nnadi; Chief of Staff, Chief Uche Nwosu; Chairman state Council of Traditional Rulers,

HRM Eze Samuel Ohiri, and state Commissioner for Education, Mrs. Getrude Oduka, who spoke at the historic event, all paid tributes to Lakanu for a job well done. In his speech, Lakanu who is moving to Abuja to be in charge of operations, said: “Imo State is my very best posting ever. The governor established a very good platform for the security operatives in the state to perform. He is so accessible and responds quickly to problems. The appreciative nature of the people of the state helped me to perform optimally. The presence of Imo Security Network equally helped in providing man power and relevant information.” He added: “The incoming CP is a well-trained and seasoned police officer who may even surpass my achievements. I thank the sister agencies for synergising with the police force for optimal result.”

WEDNESDAY APRIL 5, 2017 ˾ T H I S D AY

CRIME&PUNISHMENT How EFCC Invited Six-year-old Child of Ex-NIMASA Boss, Jauro, Says Witness A Federal High Court in Lagos yesterday heard that children of a former acting Director General of Nigerian Maritime Administration and Safety Agency (NIMASA), Haruna Jauro, were invited to the Economic and Financial Crimes Commission (EFCC). A subpoenaed witness, Mr. Peter Achuneni, who is a lawyer, gave the evidence at the resumed trial-within-trial of Jauro. Jauro assumed leadership of the NIMASA, after an erstwhile Director General, Patrick Akpobolokemi. He is charged by the EFCC alongside Dauda Bawa and Thlumbau Enterprises Limited on 19 counts bordering on on N304.1 million fraud. They were arraigned on April 12, 2016, and had pleaded not guilty to the charges. The court had admitted them to bail in the sum of N5 million each with two sureties each in like sum. During trial in February, the prosecutor, Mr. Rotimi Oyedepo, had called its first witness, Mr. Orji Chukwuma, who had testified how several sums of money were allegedly converted by the accused. Oyedepo had then sought to tender a written statement of the accused as evidence in court, but his move was opposed by defence counsel, Mr Olalekan Ojo, who

argued that the said statements were not voluntarily obtained. Ojo had urged the court to order a trial-within-trial to determine if the statements were voluntarily obtained by the commission. The trial judge, Justice Mojisola Olatoregun, had consequently ordered a trial-within-trial. Yesterday, defence counsel, Ojo, called on the subpoenaed witness, Achuneni, who told the court that he represented the first accused (Jauro) at the EFCC during investigations. Led in examination in-chief by Ojo, the witness told the court that there at the commission, he introduced himself to an operative of the EFCC, Mr. Chukwuma Orji, who later detailed one of his subordinates to take the first accused to a table for interrogation. According to the witness, an asset declaration form was also given to the accused to fill, adding that as lawyer to the accused, he attempted severally to approach the accused at the table, but he was asked to return to the gallery where he visitors were seated. The witness told the court that following a look of disappointment on the face of the accused, (his client at that time), he again attempted for the second and third time to

approach the table where he was been interrogated. He said following his persistent attempt, the EFCC operative, Orji, warned him again to go away or risk being joined alongside the accused. He said that eventually, Orji then asked him to endorse the statement of the accused, stating that he was present when it was taken and that all went well. According to him, contrary to what Orji expected, he wrote all

that he knew, stating that he was not given access to his client. The witness told the court that this further angered Orji who then told him that he was getting too involved in the case and would go in with his client, adding that he was then informed that he was under arrest for obstructing the cause of justice. The witness said that he engaged in arguments with Orji and there was so much tension and noise in the environment

which lasted for a while but was eventually calmed following the intervention of the prosecutor, (Oyedepo). According to him, the whole situation put the accused under tension as he was sweating profusely and appeared so confused especially as he was not allowed access to his lawyer. The witness then told the court that EFCC operatives promised to make things difficult for the accused

and even invite his children, if he did not cooperate with them. According to him, the children of the accused were eventually invited to the commission the following day, including his six-year-old child who had no knowledge of anything. He told the court that he reported at the commission for about six days, and equally went along with the children when they were invited, adding that interrogation lasted for between 10 to 11 hours.

EFCC Arraigns Ex-Kwara Hotel Boss, Gobir for N277m Fraud Paul Obi in Abuja The Economic and Financial Crimes Commission (EFCC) yesterday arraigned a former Kwara Hotel boss, Mohammad Gobir, alongside Mondial Defence Systems Limited before Justice J.E. Oyefeso of the Lagos High Court sitting in Ikeja on a five-count-charge bordering on conspiracy, stealing and forgery to the tune of N277,020,000.00(Two Hundred and Seventy-seven Million, Twenty Thousand Naira). EFCC Head of Media and Information, Wilson Uwujaren, explained that “the accused allegedly converted the money meant for the purchase of security bands for Kwara State government to personal use.” One of the charges reads: “That you Mohammad Gobir and Mondial Defence Systems Limited sometime in November 2012 at Ikeja within the Ikeja Judicial Division dishonestly converted to your own use the sum of N92,340,000.00 (Ninety- two Million, Three Hundred and Forty Thousand Naira) property of the Kwara State Goverment entrusted to you for the purchase of 3(three) Units of Armoured Personnel Carriers (APC)”. Another charge reads: “That you Mohammad Gobir and Mondial Defence Systems Limited sometime in the year 2013 at Lagos within the Ikeja Judicial Division dishonestly converted to your own use the sum of N184,680,000.00 (One Hundred and Eighty- four Million, Six Hundred and Eighty Thousand Naira) property of the Kwara State Government entrusted to you for the purchase of 3(Three) Units of Armoured Personnel Carriers (APC)”.

The accused pleaded not guilty to the charges when they were read to them. The prosecution counsel, Zainab Ettu, asked the court for a trial date and prayed that the accused be remanded in prison custody. The prosecution counsel opposed the bail applications on the grounds that the first defendant, Gobir, is a flight-risk who might abscond from trial if granted bail. “My Lord, he has once jumped the administrative bail granted to him by EFCC, “ she said Zainab Etu also told the court that Gobir is currently undergoing trial in matters bordering on false declaration, obtaining money under false pretence, forgery, stealing and possession of fraudulent documents before Justice Adebiyi of Lagos State High Court, Ikeja and Justice Oguntoyinbo of Federal High Court, Ikoyi, respectively. After listening to all submissions , Justice Oyefeso ruled that the court had a discretion in this circumstance, adding that the offence is bailable. Consequently, Justice Oyefeso granted the first defendant bail in the sum of N50 million with two sureties in like sum. “One of the sureties must be a blood relation to the first defendant while the other must be a land owner in Lagos State. The two sureties must tender their tax payment clearance for two previous years. The judge further ordered that the residential address of the first defendant should be verified by the court, while his international passport should be submitted to the court Registrar. Gobir was ordered to be remanded in Ikoyi prison pending the perfection of his bail conditions before he would be released.

WEAPON OF MASS DISTRUCTION

Weapons recovered by security agents in Gbishi, near Zaki Biam in Benue State...yesterday

SERAP Asks Court to Compel FG to Publish Details of Paris Club Refunds Spending The Socio-Economic Rights and Accountability Project (SERAP) has asked the Federal High Court in Lagos for an order for leave to apply for judicial relief and to seek an order of mandamus directing and compelling the government to publish details of spending of N388.304billion London Paris Club Loan refunds allegedly diverted and mismanaged by 35 states. In the suit number FCH/ CS/523/17 filed yesterday, SERAP is seeking an order to compel the Accountant General of the Federation, Alhaji Ahmed Idris, to compile and pass on to the Attorney-General of the Federation and Minister of Justice, Abubabar Malami (SAN), information relating to the release and spending of

N388.304billion London Paris Club Loan refunds to the states. SERAP is also seeking an order for the AGF to use the information on the spending by the 35 states to initiate legal action against the states that allegedly diverted and mismanaged the funds with a view to compelling the states to widely publish, including on a dedicated website, details of spending of the funds by them. According to the organisation, “The orders sought are necessary to know exactly what happened to the Paris Club refunds, and the release of the information including on a dedicated website would be deemed incidental to the power of the federal government to achieve effective implementation of anti-

corruption legislation such as the Corrupt Practices and Other Related Offences Act, which is applicable in all states of the federation, and will no amount to interference with activities within the states involved.” The suit filed on behalf of SERAP by its Deputy Director, Timothy Adewale, read in part: “The applicant argues that allegations of corruption and mismanagement of N388.304 billion London Paris Club loan refunds by states have undermined the human dignity of workers and pensioners facing difficult circumstances that deprive them of their capacity to fully realise their internationally recognised economic and social rights. “The allegations of corruption in the spending of the London

Paris Club loan refunds have also exacerbated poverty, social exclusion, and violated the government’s obligation to use its maximum available resources to fully realise the right of all persons especially workers and pensioners who are the most vulnerable sectors of the population. “The federal government has a constitutional and statutory obligation to contribute to the eradication of corrupt practices and abuse of power, ensure proper organisation and maintenance of all information in its custody in a manner that facilitates public access to such information, and make readily this available to applicants whenever it is sought.”

Police Discover Illegal Armoury after Zaki Biam Killings George Okoh in Makurdi The Benue State Government has disclosed that security agents, acting on a tip-off, used modern gadgets to discover a bunker loaded with various sophisticated weapons around Gbishi, near Zaki Biam, where armed men recently killed over 50 people. This was disclosed by the Security Adviser to Governor Samuel Ortom, Col Edwin Jando, (rtd) who displayed the weapons and ammunition at Benue Peoples

House. He said the weapons recovered from the bunker consisted of a submachine gun, automatic rifles, 10 locally made pistols, many locally made guns, thousands of live ammunition for rifles and double barrel guns, many cartridges, rockets for firing planes and so on. He said the weapons were recovered through combined efforts of security agencies and acknowledged the role played by the police commissioner, Bashir Makama, and Ahmed Bello, the

police commissioner deployed to Benue in the wake of increase in activities of criminals in the area. Also, Benue State governor, Samuel Ortom, while inspecting the recovered weapons accused a local militia, Terwase Akwaza, of using the amnesty programme as a cover up their criminal activities. Speaking yesterday on the occasion of the display of assorted weapons recovered from one of the bunkers belonging to one of Akwaza’s boys in one of the villages near Gbishe in Katsina-Ala Local

Government Area, Ortom said the gang leader was not sincere while surrendering illegal weapons. He commended security agents for discovering the bunker and urged them to intensify efforts towards recovering more weapons and arresting the kingpin. Ortom assured Benue people that criminals would be apprehended with the support of President Muhammadu Buhari and announced that security agents have arrested many criminal elements among herdsmen and farmers.

T H I S D AY WEDNESDAY APRIL 5, 2017

T H I S D AY ˾ WEDNESDAY APRIL 5, 2017

WEDNESDAYSPORTS

Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com

PREMIERSHIP

Victor Moses Doubtful for City Clash Tonight Technical crew of Chelsea may well have to cope without injured Super Eagles forward Victor Moses for their crunch midweek Premier League match against Manchester City tonight. The Stamford Bridge wingback has been struggling with a calf injury he sustained in the Blues’ FA Cup win over Manchester United in March. The knock kept Moses out of Nigeria’s squad against Senegal in last week’s FIFA international window and he also missed Chelsea’s 2-1 loss to Crystal Palace at the weekend. The player was unable to participate in training on Monday, casting further doubt over his ability to be fit for the clash with City today, though Chelsea is yet to officially declare his unavailability. Should Moses remain sidelined, coach Antonio Conte is likely to play either Pedro or Cesc Fabregas in the wingback role against the Citizens. Meanwhile, Conte has said that the bad-tempered end to the Premier League leaders 3-1 victory over Manchester City earlier this season will not influence today’s renewal of their rivalry. The 47-year-old Italian -speaking to the press a year to the day he was named as Chelsea manager for this season -- revealed that Brazilian

defender David Luiz still requires treatment on the knee that Sergio Aguero clattered into earning him a red card. That sparked a free for all which saw Aguero’s City team-mate Fernandinho sent off as well for sending Cesc Fabregas over the advertising hoardings -- both clubs were subsequently fined by the Football Association. “I think now his knee is better than before and for sure he needs to have the treatment,” said Conte. “It’s not important (the game at City). We must understand that when there is a game and above all if someone is losing the game, it can happen this type of situation. I have great respect for Aguero.” Conte, who has insisted he will see out his three year contract with Chelsea despite reports linking him to the Inter Milan job in Italy, saw his side’s 10 point lead cut to seven over Tottenham Hotspur.

RESULTS Man Utd 1-1 Everton Leicester 2-0 Sunderland Watford 2-0 West Brom Burnley 1-0 Sunderland

L-R: Nigeria Football Federation (NFF) 1st Vice President, Mr. Seyi Akiwunmi, Managing Director, NASD, Mr. Bola Ajomale and League Management Company (LMC) CEO, Hon. Nduka Irabor, at the unveiling of Financial Advisors to Nigeria Professional Football League (NPFL) clubs for listing in the NASD Securities and Exchange Market in Lagos ….yesterday

Declare Emergency on Anambra NPFL Clubs Get Financial Advisors ahead of Listing on Capital Market General Meeting. Stadium weekly,” revealed the The MD of NASD, Bola Ikhazuagbe Sports, Rojenny Tells Obiano Duro NASD Plc is the promoter of LMC chief, Ajomale, advised the The former member representatives of the clubs The nine Nigeria Professional a trading network that eases David-Chyddy Eleke in Awka The Managing Director of Rojenny Sports and Tourist Village, Oba, Rommy Ezeonwuka has called on Anambra State Governor, Willie Obiano, to declare a state of emergency on the sports sector. Ezeonwuka made the call while addressing the leadership of Sports Writers Association of Nigeria (SWAN), Anambra at the stadium in Oba, Idemili South yesterday. He said sports administrators in the state had failed the youth because of their inability to conceptualise and implement programmes that were amenable to sporting excellence. The sports facility investor said the N10billion Rojenny Complex was under-utilised because such activities as

inter-house sports, school sports, state sports festival and other organised games were no more taking place in the state. “I am calling on Gov. Obiano to declare state of emergency in sports and sports development in Anambra. “I declare my lack of confidence in those that are in charge of sports management and administration in Anambra and hereby call for their sack and replacement with vibrant creative, proactive and talented people. “Anybody who sees this over N10 billion sports facilities lie idle and is not moved is an enemy of sports and youths, I invested in sports because I wanted to develop and help government manage our youths,” he said.

Unseeded Duo Win LCC Tennis The inaugural edition of the Lagos Country Club Doubles Rumble Tennis Tournament came to a fascinating end over the weekend with Bimbo Okubena and Ahmed Sanni emerging champions by beating the pair of Ayo Oludemi and Tunde Olujobi 6-2, 6-1. The unseeded finalists came into the match by claiming the scalps of the seeds in the semifinal with Okubena and Sanni defeating top seed, Matt Holmes and Chijoke Agbo while Oludemi and Olujobi triumphed over Segun Aluko

and Wale Adesida to set up an all-underdog final. Sanni, the oldest of the players in action had a great game, however, it was Okubena, who was returning to action after being sidelined by injury for over three months, that was the architect of a convincing win s he bagged series of winning shots while operating from the baseline. He said: “It was just to come and play and have fun because the injury took its toll on me but I’m happy to get my strokes back and more excited to also be a winner.”

Football League (NPFL) clubs aspiring to be listed at NASD’s Over The Counter (OTC) trading yesterday met with financial, banking and legal advisors that will make the dream of financial independence come true for the topflight teams owned by state governments except one. At a parley inside the conference room of the Westwood Hotel on Awolowo Road in Ikoyi, Lagos, the nine clubs namely, Shooting Stars, Kano Pillars, Enyimba, Rangers, El Kanemi, Gombe United, Wikki Tourists, Abia Warriors and MFM FC, were introduced to representatives of the various issuing houses. Only MFM FC is privately owned. All the teams were nominated by the League Management Company for the process at it’s last Annual

secondary market trading of all securities of unquoted public companies primarily in Nigeria. It is part of its brief to help the mostly cash starved clubs stimulate growth by easing the capital raising process. Speaking at the event, the Chief Executive Officer of the LMC, Hon. Nduka Irabor, called on the clubs to take full advantage of this interesting development to become financially independent. “When we took over the administration of the league few years ago clubs were having less than 2,000 fans but all that has changed today. Teams like Kano Pillars, Rangers International of Enugu and Shooting Stars consistently attract huge spectators at their centres. Kano Pillars’ home games attract no less than 25,000 fans to the Sani Abacha

of the Federal House of Representatives however stressed further that of these fans, only very few can boast of having the replica jerseys of their darling clubs. “Merchandising is key for financial success. What is the essence of having huge fans if the clubs cannot seize the opportunity to make money from this? “We are now opening up ownership space to create more jobs, more money and also better professionalism in the running of football generally,” reasoned Hon Irabor. He also stressed why the NPFL clubs need to get out of their present financial predicament. “I have been in a room with two governors and talked for 45 minutes on how to invest in football but they didn’t understand

to be ready to follow all the template for them to be listed. “There must be accountability and transparency. The teams must all be duly registered like any other corporate body. The issuing houses will guide the teams accordingly,” Ajomale said. Officials of the 18 leading issuing houses were shortlisted to act as advisors to the clubs were also present at the meeting where they commended the efforts of the LMC over the proposed listing of nine of the 20 clubs in the NPFL Some of the issuing houses at the meeting include Finmal Financial Services Limited, Cowrie Assets Management Limited, Fundvine Capital & Securities, GTI Capital, Afrinvest Securities, Bestworth Assets & Trust Limited and Capital Assets Limited.

CAF Election: Dangote Congratulates Amaju Pinnick The President/Chief Executive of Dangote Industries Limited, Alhaji Aliko Dangote has felicitated with the President of Nigeria Football Federation, Mr. Amaju Melvin Pinnick over the latter’s recent election into the Executive Committee of Confederation of African Football (CAF). Pinnick handed veteran Beninoise football official, Anjorin Moucharafou a 32-17 thumping at the 39th Congress of CAF in Addis Ababa, Ethiopia on 16th March, to

earn the seat for West Africa Zone B in the elite club of African football’s supreme governors. In his letter of congratulations dated 29th March, reverred billionaire industrialist and football enthusiast Dangote wrote: “Your victory at the keenly contested election did not come to me as a surprise, given your exemplary track record in football administration in Nigeria. Delta State achieved several milestones during your tenure as the Chairman of the

Delta State Football Association. It was also during your tenure that Delta emerged the overall champions at the 2012 National Sports Festival held in Lagos State. “As the President of the Nigeria Football Federation (NFF), you continued your winning streak by building bridges of understanding and encouraging dialogue as a way of resolving differences. Indeed, you brought stability into the NFF, and this has impacted positively on the Federation

leading to Nigeria’s improved FIFA rankings. “Your recent election in Addis Ababa, into the powerful CAF Executive Committee representing West Africa Zone B, is therefore an eloquent testimony of the acceptance of your visionary leadership style. You did not only get elected, but you also helped make history by supporting your candidate of choice for CAF Presidency, Ahmad Ahmad of Madagascar, to clinch the top seat.”

T H I S D AY Ëž WEDNESDAY, APRIL 5, 2017

WEDNESDAYSPORTS T R I B U T E TO L AT E S A M U E L O G B E M U D I A

How Ogbemudia Inspired Midwestâ€™s Victory in 1971 Hussey Shield and Lady Manuwa Cup BRUCE TAJINERE IJIRIGHO was the captain of the Midwest team to the 1971 Hussey Shield and Lady Manuwa Cup competition in Port Harcourt. He recalls here how Brigadier-General Samuel Osaigbovo Ogbemudia (rtd) who died last month turned the state to the envy of others in the country through the many innovations he introduced into the running of sports Brigadier Samuel Osaigbovo Ogbemudia (rtd) is the indisputable father of modern sports in Nigeria. He recognised early in his career as governor of Midwest State that sports can be used to uplift the good image of a state while at the same time educating the athletes for the future manpower needs of the state.Â He used that knowledge masterfully to the benefit of the then Midwest.Â He is an irreplaceable icon in the development and maintenance of athletes and charting a future for them beyond sports participation. He was a master in the art of inspiring athletes to achieve the seemingly impossible. The late Ogbemudia was not just our governor but a father, mentor, motivator and the one who enabled us to achieve the Golden Fleece in the world of sports. He knew how to celebrate the achievement of his athletes and make them want to conquer the world at the next available opportunity. I was a recipient of his unselfish largess as a member of the Olympic teams that represented Nigeria in 1972 and 1976. He continued to support me until I obtained my Ph.D. degree in Petroleum Geology from the University of Arizona in 1981. The iconic 1976 Olympic team comprised mostly of Ogbemudia products, was one of the most talented group of athletes Nigeria ever assembled with the hope of bringing home medals. Once the team was named in 1976, Gov. Ogbemudia took notice and he followed our progress everywhere we were and provided resources to cushion our hard times.Â He joined us at the 1972 Olympic Games and was in the boxing arena when Isaac Ikhuoria of Midwest won the only medal (bronze) for Nigeria in Munich, West Germany.Â At the KADA Games 2009, it was he who convinced me to come back home and work with Governor Liyel Imoke of Cross River State, to produce young athletes for the nation. Because we used the Ogbemudia formula with modern technical modifications, the result was the same great level of success, second only to his legacy, in the modern era of Nigerian sports.Â He was a great mind with infinite love for youths and nation.Â The history of Nigerian sports cannot be complete without the visionary role he played in establishing facilities such as Afuze, and producing some of Nigeriaâ€™s best athletes.Â Some of the ways he inspired us to greatness through his words and action are evident in the story below.Â On the eve of our departure for Port Harcourt to participate in the Hussey Shield and Lady Manuwa Cup competition in 1971, our Papa, Governor, and then Colonel Samuel Osaigbovo Ogbemudia invited us, our coaches and officials, to the state executive council chambers at the Government House in GRA, Benin city for a pep talk and psychological preparation. We were elated at the invitation because we knew there would be special food and enjoyment. Most importantly, we were excited at the prospect of meeting him at such close range and to be able to interact with him freely.Â The encounter would be added to our repertoire of stories to share with our friends and parents when we return to school and our various homes.Â He walked briskly into the room, waved at us and went straight to his special seat. Thereafter, he spoke passionately and encouraged us to go out there and make the Midwest State proud by bringing all the trophies back to him in Benin City. He convinced us that we can do it and that the Hussey Shield has been our possession for five consecutive years and we should not be the group to lose it.Â He admonished us to be disciplined and of good behavior at all times while in Port Harcourt. Â We were happy and grateful for the gesture and we left the chambers pumped up to do battle at the competition. We were particularly intrigued and excited that he took time off his busy schedule to show such a

Ogbemudia high level of interest in our participation and that he considered us important enough to be invited and feted to boost our morale before the departure.Â We had a wonderful time and as he left the room, he promised he would be there in Port Harcourt to watch us compete.Â We were all in cloud nine when we left the State House after the meeting. When a man goes out of his way to treat you this good and make you feel important why would you not â€œrun belle tearâ€? and give above 100 percent in competition? That was the fire we took with us to Port Harcourt. Yes, as promised, our beloved Gov, Ogbemudia honored that promise and was in the Liberation Stadium, Port Harcourt with the then Governors of Rivers State, Commodore Alfred Diete Spiff, Brigadier U.J. Esuene, of South Eastern State, Brigadier Mobolaji Johnson of Lagos State, and Administrator of East Central State, Dr. Ukpabi Asika, to watch all the events of the final day of competition.Â Ogbemudiaâ€™s presence in the stadium that day was like an injection of adrenaline, into our body and spirit.Â We ran, jumped, threw, and did everything to win all the events in the programme that afternoon, so as to make our governor happy and proud of us.Â Our girls fell short of winning all of their events because Modupe Oshikoya of Lagos State single handedly dominated three events, to the delight of Governor Mobolaji Johnson.Â At the end of the day, Midwest won majority of the girlâ€™s events and the Lady Manuwa Cup.Â On the boysâ€™ side, we finished first and second place in every event except two.Â The exceptions were the boys 100 yards that was won by Ruks Bazunu of Midwest State, who represented Western State because he was at the time a student of Loyola College, Ibadan.Â Rito Igunbor (Alias PJ rito) of Midwest was second in that 100 yards sprint.Â Also, we were second in the 4 X 440 yards to Western State despite running the race of my life as the last leg, in a race where the gap was totally insurmountable before I received the baton.Â At the end of the competition, Governor Ogbemudiaâ€™s boys decimated the competition from all twelve states of Nigeria and won the Hussey Shield for the sixth consecutive time. After Vivian Emenahor, the Midwest girls Captain received the Lady Manuwa Cup, I as captain of the team was invited to the podium to

receive the Hussey Shield from Governor Diete Spiff on behalf of the all-conquering Midwest team.Â I was overwhelmed with joy upon receipt of the shield, knowing that Gov. Ogbemudia was right there watching us collect all the trophies.Â My joy was even fuller because I was convinced in my heart that we did not disappoint him for preparing, trusting and sending us into battle.Â Like a father whose children have accomplished the impossible, he was beaming with smiles and proud of our achievement. Na only him be governor there wen we just win and carry everything comot? Â He was happy.Â After receiving the trophy, Mr. Okwechime, then Director of the Midwest Sports Council prompted me to start chanting and singing our favorite song praising Ogbemudia and the Midwest, which goes like this:Â â€œMidwest No Rival; Midwest No Rival; Ogbemudia No Rival, Ogbemudia No Rivalâ€?. As soon as I raised the song, our entire team picked it up and the whole stadium went into pandemonium. We ran and danced for joy all around the stadium.Â By the time we returned from our victory run, the Governors had left the stadium. However, Gov. Ogbemudia left us a special messageâ€œ. My children, thank you for doing as you promised and making me and the Midwest State proud.Â Rather than return to Benin-City tomorrow, you are to stay in Port Harcourt for three extra days while I return to Benin-City ahead of you, to prepare the state to receive you on arrivalâ€?.Â He sent us money to enjoy ourselves for the extra days of stay.Â Who are we to say no?Â We knew that something big was in the offing. But how big, we had no inkling until we eventually arrived on Midwest soil. The following day which was a Sunday, Governor Diete Spiff sent a naval ship to take us and the Rivers State team on a tour to Brass and some of the creeks in Rivers State.Â That was a lot of fun for us because we ate and drank as we cruised on the water, and saw things and places we had never seen before. We rested on Monday and on Tuesday we took off from Port Harcourt very early in the morning, heading back to Benin-City, via Onitsha and the Niger Bridge.Â Upon arrival at the Asaba end of the Niger Bridge, we were surprised to see most of the traditional rulers in the Ibo speaking hinterlands waiting to receive and greet us.Â We disembarked and shook hands with them while traditional dancers

entertained us for about fifteen minutes.Â Our bus was specially decorated with Midwest colours and banners before we drove off towards Ogwashi-uku, Isele-Uku, Umunede and to Agbor where special emissaries from Benin were already waiting for us.Â All along the towns and villages in our route, school children and other citizens lined both sides of the road singing and waiving at our bus. It was incredible.Â That day was declared a public holiday throughout the state to honour us.Â Waiting for us at the Government Guest House in Agbor was the then Obi of Agbor and his chiefs. They received us warmly and we enjoyed more traditional dances while we had lunch. Then, we changed into our competition uniforms, boarded the bus and rushed off to Benin-City. Our stop in Benin-City was along the road, near Western Boys High School at Ikpoba Hill. We were shocked and totally unprepared for what was waiting for us.Â We saw a convoy of about twenty open top military vehicles, well decorated and waiting for our triumphant ride into the Obaâ€™s Square at the centre of Benin-City.Â One eighteen wheel, low loader, trailer was at the front of the convoy.Â The trailer was well decorated and fitted with four seats to accommodate the male and female team captains and the two male assistant captains (Edwin Tuoyo and William Emofurieta) who also carried trophies.Â On the trailer and behind the seats was a police band blaring good music for the parade. Once the athletes and officials took their positions in the vehicles, the convoy started winding its way slowly through the streets with people cheering and waving enthusiastically all the way to Obaâ€™s square. The Obaâ€™s Square was filled to capacity and agog with celebration when we arrived. The who is who in Midwest were there from every nook and corner of the state.Â The dignitaries in attendance included the Governor and all his commissioners, top government officials, the then Benin monarch, Oba Akenzua II and many traditional rulers from other parts of the state. Â As our convoy drove into the reception arena, the whole place exploded with cheers, songs and applause until we all alighted from the vehicles. We were immediately arranged in a line facing the dignitaries. They had been there waiting for more than three hours before we arrived. The protocols proceeded quickly and a specially drafted â€œCitation and Certificate of Honourâ€? from the Governor and people of Midwest was read to the applause and approval of all present.Â Thereafter, each athlete was individually presented to the governor to receive his/her copy of the citation with a handshake. That same night, after the reception, the governor hosted a banquet at the Government House in our honour, where he thanked us again and announced full scholarships for any one of us who is admitted into a university anywhere in the world.Â That day, 19th April 1971, will forever remain fresh in my memory and stand as a the day when we surrendered ourselves to the service of state and country because of the guidance, care and inspiration from the greatest contributor to the development of youth and sports glory in the history of Nigeria, Brigadier (Dr.) Samuel Osaigbovo Ogbemudia. Papa, May Your Gentle Soul Rest In Peace In The Bossom Of The Lord. Adieu to a great leader, statesman and patriot. Without you, I and many others would not be who we are today. You will be fondly remembered, relevant and forever missed. r %S *KJSJHIP XIP XBT DBQUBJO PG UIF .JEXFTU 4UBUF UFBN JO UIF FBSMZ T BOE MBUFS SFQSFTFOUFE /JHFSJB JO TFWFSBM HMPCBM DPNQFUJUJPOT DPOUSJCVUFE UIJT USJCVUF GSPN IJT 6OJUFE 4UBUFT PG "NFSJDB CBTF

Wednesday April 5, 2017

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MISSILE Ologun to Saraki’s Traducers ”We still insist that he has nothing to do with the money and we challenge those still rehashing the stale and fake news to avail themselves of the reports of the police and the DSS on the matter to avoid misleading members of the public unnecessarily” – Chief Press Secretary to Senate President, Sani Ologun exonerating Bukola Saraki of any complicity in the alleged stealing of N310m by his security details from his residence.

KAYODEKOMOLAFE THE HORIZON

kayode.komolafe@thisdaylive.com

0805 500 1974

A Stunted Polity T

wo pieces of news – one at home and the other abroad – should be chilling reminders about the urgency of tackling underdevelopment in this land. The issues thrown up may appear disparate, but the point of convergence is in the lack of or failure of policy. The first is the sad story of meningitis, which is spreading in parts of the country. At least 300 deaths have been recorded since the outbreak of the contagious disease. Viruses and bacteria spread the disease, which can be prevented through immunization, according to the experts. The epidemiology of meningitis clearly shows the link between poverty and the disease. Victims are to be found more in the neglected rural areas. In more developed climes, meningitis has become history because of vaccination. But in Nigeria, the cost of vaccination is very high. The vaccines are also scarce. At a N18, 000 per dose the drugs are too costly for the poor rural folks. The outbreak itself is one of the symptoms of the malaise afflicting the healthcare delivery system in Nigeria. And it is only in a tragic season like this that attention is paid to the poorly funded Centre for Disease Control. Now, how to manage the healthcare delivery system to stamp the episodic shame of outbreaks of meningitis is a matter of policy. The second story is about the war declared in United Kingdom on diesel in the interest of the health of the residents and their environment. The London Economist reported two days ago that Westminster Council would henceforth charge diesel drivers 50% more to park their vehicles. This is all in the bid to control emission of carbon dioxide. It is estimated that more than half of the vehicles on the road would be affected. It is a part of government’s efforts to improve air quality as a matter of policy. Why should that bother Nigeria? You may probably ask. The British war on diesel should be instructive to Nigeria because the Nigerian economy, “the largest economy in Africa”, is actually run on diesel. The toxic fumes from generators supplying power for industrial and residential uses in Nigeria constitute a greater health hazard and environmental pollution. Making diesel as a source of power in factories and home history is also a matter of policy. However, Nigeria is sadly not in position to declare any war on diesel despite the risks to health and the environment inherent in the burning of diesel. A war on diesel in Nigeria would have to be preceded by the declaration of a state of emergency in the electricity sector so as to drive home the urgency of the solution to the power supply problem that has been

President Muhammadu Buhari

Odigie-Oyegun

with Nigeria for decades. You cannot do without diesel when you have not made electricity supply steady. It requires a politically developed atmosphere to appreciate the policy imperatives of stamping out meningitis and diesel. That is the point at issue. In a clime where organic poltical parties exist, such issues would be matters of party programmes of action. Those would the issues dominating public conversations. Members of the party in the executive would focus on the implementaion while those in the legislature would be busy giving the legal framework and responsible oversight for the purpose of public good. Perhaps unconsciously, discussions on Nigeria’s backwardness tend to focus on the economic and social spheres to the virtual exclusion of the polity. Hardly is political underdevelopment made an issue. Yet Nigeria is afflicted with the stuntedness of the polity as much as it suffers from socio-economic underdevelopment. The indices of socioeconomic underdevelopment such as the statistics on human development and poverty rates are readily available. It is not quite so measurable when it

comes to the indices of political underdevelopment. To be sure, advocates of restructuring of the federation often draw the link of the decline in the political arena to the distortion of Nigerian federalism. The logic is that once each federating unit assumes an appreciable level of political autonomy, development would be fast-tracked. However, the point remains that whatever structure emerges eventually would still require the factor of those in power to govern in the interest of the common good. Here comes the element of governance. Regardless of the relative autonomy that is enjoyed by each federating unit, without proper competent policy conception and execution, you would only be having devolution of poor governance to the units. Here, the function of well-organised political parties becomes obvious. There is a lot of wisdom in not having a zero-party provision in the constitution. Political parties are central institutions of liberal democracy. The political parties have roles to play beyond selling forms to candidates seeking nominations to contest elections. The failure of political parties to perform their roles has left a huge vacuum in the poltical landscape. The poor organisation of the political parties is surely a manifestation of political underdevelopment. All the parties suffer from acute lack of capacity. Since its victory at the polls 24 months ago, the All Progressives Congress (APC) has not been able to muster the capacity to hold a proper meeting on policies, on what the party promised during the election. The APC could not even manage its stupendous success at the polls. Presumably, the electorate voted

Nigeria is afﬂicted with stuntedness of the polity as much as it suffers from socio-economic underdevelopment

for APC on the day of election based on its manifestoes from which policies and programmes were supposed to be distilled for governance. On this score, APC has more or less become still born. The APC is not a party in the organic sense of the word. In its political metamorphosis, it has not grown beyond being a coalition of disaffected political forces united in the resolve to get the PDP out of power. It is obvious that getting the PDP out of power was the easier part of the job. Now, the hard part is for the APC to demonstrate the competence of a party in power. Pray, does the John Odigie-Oyegun’s APC have the capacity to review the party’s strategy of development (if any) and monitor how those in government are delivering on the promises made to the electorate two years ago? No. The party still remains a vehicle some persons rode to power in 2015, which now seems poorly serviced. But enthusiasts might insist that the party is still a strong vehicle available for those seeking power for whatever purpose. The voice of APC is not loud on any policy. The party is not engaging President Mohammadu Buhari and his ministers on policy implementation or lack of implementation. None of the squabbles in the party is traceable to policy disagreements on health, education, security, power supply or mass housing. Yet some of the minsters were not in APC when the party sold its manifestoes to the electorate two years ago. And APC has no ideology to which any minister could be asked to be committed. The party is not tasking its members who are in the majority in the National Assembly to pursue a legislative agenda that would be in synchrony with the policies the party favours for implementation. The case of the major opposition, the Peoples Democratic Party (PDP), is probable worse. There is a raging war of attrition for the soul of the party that once boasted to be in power for 60 years. In its 16 years in power there was no ideology that united PDP members. The passion was power and the struggle for it also stunted the growth and development of the party. So the PDP has not got the organisational respite to talk of articulating alternative policies to those of the APC in power. The other smaller parties are more or less franchise for hire by those who could not secure the tickets of the two big parties to contest elections. And that completes the tale of arrested poltical development. The Nigerian reality has proved again the correlation between progress in the political realm and socio-economic development. That is why social scientists say that the issue is really that of a political economy.

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