Thursday 4th May 2017

Nigeria Eyes Six Months Extension Exempting it from OPEC Production Cap Kachikwu: Zabazaba project to proceed despite Malabu dispute, probe Says FID on NLNG Train-7 will be done in 18 months Chineme Okafor in Houston, Texas Nigeria will be seeking a six months extension of the exemption it got from the

production freeze agreement reached by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC members in December 2016 to shore up oil prices.

edition of the annual Offshore Technology Conference (OTC).

He also said he was optimistic that OPEC and non-OPEC members would agree to the freeze extension,

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed this yesterday at a briefing with journalists in Houston, Texas, venue of the 2017

in addition to initiating talks with oil producers in the United States and Canada to join OPEC’s attempt to stabilise oil prices.

13 OPEC members and

11 non-OPEC countries led by Russia agreed on November 30, 2016 to reduce their production outputs by Continued on page 12

GTB, FirstBank, UBA Show Evidence of Funding SMEs, Readmitted into FX Market… Page 56 Thursday 4 May, 2017 Vol 22. No 8050. Price: N250

www.thisdaylive.com TR

UT H

& RE A S O

N

N’Assembly Increases Its Budget to N150bn, Lays 2017 Appropriation Bill Today… Page 10

FG: Buhari Will Continue to Rest Until He’s Fit to Work Osinbajo panel concludes work, submits report Monday Stop exploiting president’s health, another northern group warns Yoruba leaders Omololu Ogunmade in Abuja and John Shiklam in Kaduna The federal government

has said that President Muhammadu Buhari would continue to rest until he has fully recovered and is

fit to work based on his doctor’s advice.

Making this remark yesterday while briefing

journalists at the end of the weekly Federal Executive Council (FEC) meeting in the Presidential Villa,

Abuja, the Minister of Information and Culture, Mr. Lai Mohammed, said Buhari was not in the

meeting because he chose yesterday to rest.

Continued on page 10

Dangote Group Partners GAC Motor, Buys Company’s Vehicles for Its Operations Chika Amanze-Nwachuku With an eye on its expansion drive in the Nigerian economy, GAC Motor, one of the brands under the Choice International Group (CIG) in Nigeria, recently marked a milestone when it signed a new business partnership deal with the largest conglomerate not only in Nigeria but in Africa, the Dangote Group, to supply vehicles to the Nigerian conglomerate.

CIG, a Chinese automobile group, which operates an

ultramodern showroom and a vehicle assembly plant in Lagos, held a handover ceremony at its head office and showroom in Victoria Island, where the vehicles were displayed.

According to a statement from the company yesterday, the ceremony was attended by the Chief Marketing Officer of Dangote Group, Mr. Oare Ojeikere and a senior executive, Mr. Adeyemi Fajobi who were present to take Continued on page 12

Chairman, Choice International Group (CIG), Chief Diana Chen (left), with the Chairman, Dangote Group, Alhaji Aliko Dangote, when CIG signed an agreement with the Nigerian conglomerate for the supply of vehicles for Dangote Group's operations… recently

Court Convicts INEC Official, to Forfeit Land, Other Assets to FG… Page 58

2

T H I S D AY THURSDAY MAY 4, 2017

Nothing to declare.

Get the GTBank Dollar Card.

For more information, kindly visit www.gtbank.com/cards

T H I S D AY THURSDAY MAY 4, 2017

3

4

T H I S D AY THURSDAY MAY 4, 2017

T H I S D AY THURSDAY MAY 4, 2017

5

6

T H I S D AY THURSDAY MAY 4, 2017

T H I S D AY THURSDAY MAY 4, 2017

7

8

T H I S D AY THURSDAY MAY 4, 2017

T H I S D AY THURSDAY MAY 4, 2017

9

10

THURSDAY, may 4, 2017 • T H I S D AY

PAGE TEN

N’Assembly Increases Its Budget to N150bn, Lays 2017 Appropriation Bill Today To open its budget to public scrutiny Damilola Oyedele in Abuja Owing to rising inflation and the depreciation of the naira, the National Assembly, which for years has faced criticism over the lack of transparency and accountability over its budget, has increased its 2017 budget in this year’s Appropriation Bill to N150 billion from the initial proposal of N120 billion.

This is just as the Appropriation Committees of the Senate and House of Representatives would today lay the 2017 budget ahead of its consideration next week.

THISDAY gathered that the 2017 Appropriation Bill to be laid today would include details

of the appropriated expenditure (expenditure line items and subheads) of the National Assembly, in line with the promise made by its leadership to make public the details of its budget.

THISDAY, however, could not confirm if the federal government’s budget was increased, reduced or retained at N7.3 trillion as proposed by the executive.

A source in the Senate explained that the legislature had to increase its budget to N150 billion, as it could no longer deploy the pooled resources for services provided in the National Assembly.

“We are opening our budget to scrutiny and since we are doing

that, there are more exigencies such as services being provided in the National Assembly, they are getting more money.

“More importantly, now that we are opening the budget, it means we have to account for all the activities: the monies used to clean the House and Senate, for instance. We use cleaning agencies for this, as we do not have civil servants who clean the premises. It is dome on a contractual agreement. We also have people fuelling the generators and all that.

“As against what happened in the past, when we just went into a pool of funds and took the money, now there is need to account for every naira that

National Assembly and its three agencies: National Assembly Service Commission, National Institute for Legislative Studies and the Public Complaints Commission.

“The National Assembly alone has at least 3,500 staff and over 5,000 legislative aides. They are all paid from within this budget,” he said.

The source further revealed that consideration of the federal budget would likely start next Tuesday and may last for at least two weeks.

“Consideration may start next week, and this will be in line with the agreement we had and the speech of the Speaker when we resumed from the break,

when he said the National Assembly would pass the details of the 2017 budget, not the summary.

“What this means is that it would take more than three legislative days, at least a minimum of two weeks.

“The fact that the 2016 budget would elapse on Friday does not mean government cannot continue spending.

The constitution allows the government to go to the Consolidated Revenue Fund and start spending the equivalent of half of the 2017 budget.

“So there will be no shutdown, they would continue to pay the salaries of workers,” he explained further.

build, quality and feel of the GA3S during the product demonstration for the handover, stating how impressed he was with the style and more importantly functionality of the vehicles, remarking: “They are world class and I’m sure the owners of the cars will really

enjoy them.”

CIG Motors currently has its assembly plant with an SKD assembling capacity in Lagos, and plans to increase its dealer network in Southeast and North-west Nigeria before the end of the year, with its own distributor locations

complimented by a strong dealer network.

According to the statement, GAC motor is a world class leading manufacturer of vehicles based in Guangzhou, China, with a distribution network in Africa, Europe and America.

(EFCC) at Osborne Towers, Ikoyi, Lagos, and the allegations of due process violations in the award of contracts under the Presidential Initiative on the North East (PINE) is completing its assignment today (yesterday) and is scheduled to present its report to the president on Monday, May 8, 2017.”

Also joining the fray on the president’s health, another group based in the north yesterday warned leaders and politicians from the South-west against exploiting the uncertainty arising from Buhari’s health.

The Northern Patriotic Assembly (NPA), in a statement issued in Kaduna, described the statements from prominent Nigerians and some civil society groups, mainly of Yoruba extraction, as “immoral” and “despicable”.

The group’s warning came after a similar one issued by another prominent northern group, the Arewa Consultative Forum (ACF), on Tuesday.

The northern groups were reacting to calls by some prominent Nigerians, including human rights lawyer, Mr. Femi Falana, who had asked the president to proceed on medical vacation in order to cater to his health.

The former National Chairman of the All Progressives Congress (APC), Chief Bisi Akande, had also warned that “some people” in the corridors of power were feasting on Buhari’s health.

Akande added that the uncertainty over his health was taking a toll on the country and expressed fear that Nigeria may be thrown into anarchy.

The former APC chairman had said Nigeria was facing two challenges – the Buhari health challenge and the lack of cohesion between the National Assembly and the presidency, which according to him were “two great red flags that have the potential of plunging the country into unprecedented chaos and destabilising the gains of

democracy since 1999”.

But in the statement signed by the President of the NPA, Hon. Idakwo Jibrin and its Secretary General, Alhaji Adamu Wakil, the group particularly frowned at the statements by Akande and Falana.

NPA further alleged that Akande and Falana’s statements were part of a larger plot to plunge the country into a crisis, bearing in mind that the Yoruba will be the beneficiaries if the president is forced to step down.

According to the group, Buhari’s health has been politicised beyond comprehension by politicians who hide behind the pretext of agitating for what is in the best interest of the country.

It added: “Even more unnerving is a situation whereby people we once held in high esteem as elders, leaders and professionals decided to descend into the mud, using President Buhari’s health as their new object of obsession.

“They have fanatically tried to impose this obsession of theirs on other Nigerians in a desperate bid to cause panic and confusion.

“Sadder still is the fact that these mischief makers are people who pose as President Buhari’s All Progressives Congress (APC) party leaders, associates and friends.

“With this crow of desperadoes Mr. President need not worry about the opposition, the real viper’s nest is in his courtyard.

“They are the ones, who finding no avenue to corner the government to themselves, are now working day and night to use the president’s health as a campaign tool to hijack the government.

“We want Nigerians to specifically call these people to order. They cannot be allowed to run riot with their own mission to the detriment of the rest of us.

“The founding chairman of the APC, Chief Bisi Akande, who spoke from two opposing directions – he urged caution about the way President Buhari’s

health is discussed, yet went on to describe it as a challenge to Nigeria.

“This prevarification is unbecoming of an elder statesman of his stature. He should apologise to Nigerians and stop making such unguarded utterances going forward.

“Akande’s role is however that of the ‘Voice of Jacob and the Hand of Esau’ since it is glaring he spoke for the self appointed Yoruba leader, Bola Tinubu, whose protégé is the next in line to benefit if President Buhari can be shoved aside on health grounds.

“This is a reckless abuse of the constitution and open provocation of the masses. We therefore tell Tinubu in clear terms to allow the nation be.

“The same way he could not sell the Muslim-Muslim ticket to hitch a ride as President Buhari’s deputy is the way he would not succeed in the current venture.

“In what has been confirmed that President Buhari’s health is being exploited as a Yoruba plot against the rest of Nigeria, APC affiliated lawyer, Chief Femi Falana, is apparently cobbling together an alliance of lawyers,

is spent.

“So they had to get the kind of costing applicable for those things, and in the process of getting the official costing for these things, some of these services have increased due to the foreign exchange rate.

These include the cost of diesel; purchase of utility vehicle; etc, which have all increased.

“As such, it is even good that we are now accounting for it,” the source explained.

Another source added that it was necessary for Nigerians not to continue to hold on to the impression that the budget of the legislature is for the 109 Senators and 360 House members alone.

“The budget is for the

DANGOTE GROUP PARTNERS GAC MOTOR, BUYS COMPANY’S VEHICLES FOR ITS OPERATIONS delivery of a large number of GA3S saloon vehicles for the company’s operations.

The Chairman of CIG Motors, Chief Diana Chen, in her remarks, stated that GAC is here to stay in Nigeria offering first class products to Nigerians at an affordable rate with the

best quality and standards applied in the manufacture and maintenance of the vehicles in Nigeria.

She further stated that the purchase of the vehicles by Dangote Group went to show the reputation GAC vehicles have built in the last four years

of their presence in Nigeria, with increased sales based on the confidence Nigerians have reposed in GAC vehicles.

It added that one of the models, the GS5S, a secondgeneration model, has recorded good sales.

Adeyemi remarked on the

FG: BUHARI WILL CONTINUE TO REST UNTIL HE’S FIT TO WORK He dismissed inquiries by State House correspondents seeking to know if the president’s health had deteriorated to the extent that he was being fed.

Mohammed whose response to the question was “bunkum”, argued that it was better for the president to rest in compliance with his doctor’s advice, insisting that it was in his interest to get adequate rest until he’s fit to work instead of forcing himself to work.

“The answer to your first question is absolute bunkum.

It is absolutely untrue that he is being fed. He was in the office yesterday as you all reported.

“And if the doctors say he should take a rest, because they think he’ll recover faster, then he ought to rest rather than forcing himself to work when he is not fit to work.

“All he’s doing is following the doctor’s advice. Mr. President himself told the nation he had never been this sick and he is going to take it easy. He said it from day one when he came back from the United Kingdom.

“So, whatever is happening today is not any strange development. It is exactly what he said: that he’s been advised to take it easy by his doctors and that he will soon also go back for further treatment.

“So, I don’t think it’s anything that is out of the place from what he said. He has been quite transparent and upfront in the matter concerning his health,” Mohammed said.

Buhari was absent from the weekly cabinet meeting yesterday for the record third time, thus raising speculations that his health might have deteriorated.

The president was first absent from the weekly meeting on April 12, with Mohammed saying that he had deliberately stayed away from the meeting because the agenda was light, hence his decision to yield the floor to his deputy, Prof. Yemi Osinbajo to preside over the day’s meeting.

But the following week,

the meeting was completely cancelled. This time, the excuse given was that the Easter break had prevented the staff of the council chamber secretariat from circulating memos for the meeting to ministers.

Again, the president did not show up on April 26, during which Mohammed said Buhari had asked the vice-president to preside over the meeting having informed the council that he would be attending to matters of state from home.

Mohammed yesterday also thanked Nigerians whom he said had been concerned and sympathetic about Buhari’s health.

“We want to take this opportunity to thank Nigerians who have expressed a lot of concern and sympathy, and who have been praying for him.

“Like we’ve always said, Mr. President will stick to his doctor’s advice so that he can recover quickly. We thank all of them for their concern. I think it shows how concerned Nigerians are about the health of the president. And all their suggestions are being taken on board,” he added.

Mohammed, however, said the president’s health notwithstanding, the government would mark its second year in office on May 29, claiming that since inception, the government has saved $100 million in foreign exchange and another N60 billion in budgetary provisions.

He also submitted that in the last two years, the government has addressed fundamental issues on the economy, fought insecurity and corruption and placed an emphasis on infrastructure development.

“Not that alone, we have been able to revive 11 food blending plants. Before now, only five blending plants were working at 10 per cent capacity, and we saved about $100 million in foreign exchange and about N60 billion in budgetary provisions.

“In the area of power, we

have signed 13 power purchase agreements with 13 solar companies. And that is going to add at least more electricity to the national grid, among others.

“So, we have a good story to tell Nigerians and I think that is what they want to hear,” Mohammed said.

A presidency also informed THISDAY that Buhari's doctors have counselled the president to rest as much as possible and to avoid any activity that may cause him stress in any shape of form, adding that by resting more often, the president stands a good chance of a making quick and full recovery.

Meanwhile, the presidential committee probing allegations of financial impropriety against the suspended Secretary to the Government of the Federation (SGF), Babachir David Lawal as well as the claim of ownership of N13.3 billion discovered in an apartment in Ikoyi, Lagos, said yesterday that it has concluded its assignment but would only submit its report next Monday.

This disclosure was however in contrast to the submission of the Attorney-General of the Federation (AGF) and Minister of Justice, Abubakar Malami on Tuesday, when he said that the committee would submit its report yesterday.

A statement by the vicepresident’s media aide, Mr. Laolu Akande said whereas the committee concluded its assignment yesterday, it would submit its report on Monday, May 8.

The committee headed by Osinbajo comprises the AGF and National Security Adviser (NSA), Major-General Babagana Monguno (rtd.).

The statement read: “The threeman Presidential Investigative Committee set up by President Muhammadu Buhari under the chairmanship of Vice-President Yemi Osinbajo (SAN) to inquire into the discovery of foreign and local currencies by the Economic and Financial Crimes Commission

TOP GAINERS NGN NGN % FIDSON 0.12 1.32 10.0 OANDO 0.48 6.54 7.9 UBA 0.37 6.28 6.2 UNILEVER 1.69 33.50 5.3 ASHAKACEM 0.52 10.44 4.9 TOP LOSERS NGN NGN % UNITYBANK 0.04 0.54 6.9 SEVEN-UP 4.75 90.25 5.0 NASCON 0.42 8.05 4.9 TOTAL 10.00 255.00 3.7 CONTINENTAL 0.04 1.07 3.6 HPE Nestle Nig Plc ₦ 744.99 Volume: 264.493 million shares Value: N2.896 billion Deals: 3,958 As at yesterday 3/5/17 See details on Page 42

T H I S D AY THURSDAY MAY 4, 2017

Polo_ProdValue_266x393_1116.indd 1

11

01.11.16 16:31

12

THURSDAY, may 4, 2017 • T H I S D AY

PAGE TWELVE

Life Imitates Art, ‘The Wedding Party’ Couple Banky W, Adesua are Engaged Social media goes agog, celebrities congratulate couple

In what could be considered a Hollywood or fairytale ending, singer/actor Olubankole Wellington, better known by his entertainment name, Banky W, last February got engaged to actress, Adesua Etomi, with whom he acted in the Nollywood blockbuster rom-com ‘The Wedding Party’.

In The Wedding Party, the couple, which starred in the lead roles, got hitched in a typically chaotic, hilarious and loud Nigerian wedding that got moviegoers laughing and identifying with the country’s peculiar social mores.

But little did Nigerians know that life was imitating art until the couple announced their engagement on their Instagram pages yesterday.

Banky W was the first to bound out of blocks when he went down memory lane on how he met Adesua whom he calls ‘Susu’, how he stalked her on her Instagram page, befriended her and fell in love with her.

Adesua immediately responded with a similar post.

Now, Nigerians can’t wait for what would most likely turn out to be the celebrity wedding of the year.

Expectedly, as the news filtered out yesterday, the social media went agog and celebrities in the entertainment industry fell over themselves to congratulate the couple on their engagement.

Ace actor and former Commissioner for Culture in Delta State, Richard Mofe-Damijo, popularly called RMD, who played the role of Banky’s father in The Wedding Party, took to his Instagram handle to felicitate with the duo wrote: “My babies, your love brings happiness to my spirit and tears of joy to my heart.

“I’m proud of the man you @ bankywellington are and you my sweetheart @adesuaetomi are one of the few young people who give me hope in this generation.

“That both of you know Christ the way you do and love him with your hearts is such a joy. Now that we’ve gone public, let’s go wild with the wedding planning.

Papa bear is proud of you both.

God bless this union.”

Similarly, Nollywood veteran, Sola Sobowale who played the role of Adesua’s mother in The Wedding Party, expressed gladness over the engagement.

Sobowale on her Instagram handle extolled God for bringing the two together. She described Banky as the sweetest, kindest and most honest person who is determine and knows what he wants in life.

“When God says yes, nobody can say no! My Banky, my one and only Banky, let me tell you, you did not fail in (this) case. You were brave and took this bold step many always seem to run away

Still acting the part… Banky W asks Adesua to marry him from,” she said.

Also, Sobowale recalled the conversation she had with Adesua while on the set of the move: “Omo mi, my Adesua, I remember the conversation we had about finding

‘the one’. Funny thing is I saw this happening after seeing you both together on set.

“I am not sure what it was, but I was moved. I just decided to keep it to myself and simply

pray for you. May God bless your union. As you both join together, you become stronger, greater and incredible forces.

“May you always find joy and solace in one another. No one and I repeat NO one shall ever get in the midst of both of you. You shall bless nations with this union. You shall inspire the world with your union.

“You shall live in eternal happiness for the rest of your lives.

Most of all, the love you share for one another shall ever flourish in the name of Jesus! Amen!!! I am so happy for you my darlings!

Congratulations to you both Banky and Adesua as couple in the movie ‘The Wedding Party’.

Jude Okoye, a brother to the music duo, PSquare, also took to his social media page @judeengee to congratulate Banky W: “Coman wake me up! Wow, congrats bro, I still never believe sha till I see wedding IV and asoebi.”

Mo Abdul, chairman and chief executive of EbonyLife TV and executive producer of The Wedding Party could not also hide her joy for the couple, when she took to her social media page @moabdul to express her feelings.

“Dear Adesua and Banky, I am so happy for you. You guys are truly made for each other. Congratulations on your engagement. May God Almighty bless your union. Hugs

and kisses,” she said.

Clarence Peter, an award winning video director also joined other the Nigerian celebrities that congratulated the couple. He said: “Big congratulation bro, may God bless you both with wisdom, patience and love.”

Popular comedian, Helen Paul also said: “Knowing who you are in Christ Jesus, helps you enjoy life. Congratulations.”

Nollywood diva, Omotola Ekeinde said: “Wow! From Captain Ekeinde and I, he says to tell you Ehen…! Lol.” Another talented actress, Chioma Okpotha was happy as she congratulated the couple with, “L.O.VE. S.O. B.E.A.U.T.I.F.U.L Congratulations.”

Also, super music producer and Marvin Records boss, Don Jazzy hilariously reacted to the engagement of the lovebirds: “Kai. Aye mi te mi ba mi. Maybe I need to act first. Who will act film with me now ooo?” Joining other celebrities was the editor-inChief and publisher of Genevieve Magazine, Mrs. Betty Irabor who congratulated the couple and commended them for keeping their engagement a secret.

She wrote: “So happy about this new trend where celebs spring engagement and wedding surprises.

I hope the trend catches fire. Less shared the better!”

Canadian Sisters Accused in Nigerian Extortion Scandal Speak Out Two Toronto sisters are speaking out for the first time since arriving back on Canadian soil, after they became embroiled in a Nigerian sex scandal that made headlines around the world.

“Everyone thinks we’re missing or dead or worse,” Jyoti Matharoo said, alongside her sister Kiran, in an exclusive interview with CTV Toronto, explaining that they have been maintaining a low profile since they got back to Canada in early January.

Before their brush with the law in Nigeria, the sisters were nicknamed the “Canadian Kardashians” after garnering a massive following on social media, where they documented their lavish lifestyle.

The jet-setting sisters have taken more than a dozen trips to Nigeria in the past eight years, where they dated some of the country’s wealthiest men.

But, on their last trip, they were accused of attempting to extort Nigerian billionaire Femi Otedola.

They were arrested, spent the night in jail and say the experience was terrible.

“I was yelling and I was saying, ‘Show me an arrest warrant, show me something with my name on it,’” Kiran said, choking back tears. “But they didn’t have any identification.”

Jyoti said they were questioned then placed in a jail cell for eight hours overnight.

“There were rats in there, there were 11 other girls. Two pieces of foam, I was crying the whole night, I was freaking out,” she said.

The next day, the sisters say, they were taken to a hotel and placed under the protection of police who held their passports.

A local news website shared video of the sisters apologizing to Otedola and his family, and also saying they had created a website, NaijaGistLive.com, which exposed alleged scandals involving Nigeria’s rich and powerful. They went on to say “the intention was not to hurt anyone or to be malicious” or extort anyone.

But the sisters now deny

having anything to do with the website. They insist they were scapegoats in the Nigerian authorities’ alleged attempt to cover up a “national embarrassment involving a powerful and wealthy person.

Documents filed in court show that, two months before the Matharoos last arrived in Nigeria, Otedola petitioned for a police investigation into NaijaGistlive.com, claiming that it used naked pictures to extort money from innocent Nigerians.

However, the Matharoos sisters’ names are nowhere to be found in the document.

The sisters now say they made the apology video to get their passports back. But the

documents were never returned.

Out of fear for their lives, the sisters told CTV News, they agreed to make the video apology.

“It was pretty much being forced, otherwise you’re going to be thrown into a maximum security prison for God knows how long,” Kiran said.

Though they are relieved to be back in Canada, the Matharoos say they still want to clear their names.

“I think this stain on our reputation will never be cleared,” said Kiran. “Because now, no matter what we do, it’s always going to be there.”

But despite what they describe as a harrowing ordeal, the sisters want to begin documenting their

lives on social media again.

A lawyer who helped the sisters told CTV News that the Canadian Embassy issued emergency passports, as their bail conditions did not restrict travel.

In an email to CTV News sent on April 10, 2017, Global Affairs Canada confirmed that consular services had been provided to Canadian citizens detained in Nigeria.

The Matharoos left Nigeria on Jan. 1, vowing never to return.

They have already missed several court dates, the next of which is scheduled for May 22. There is no extradition treaty between Canada and Nigeria.

• Culled from CTV News

recovering the money, we should keep trailing the money and get it.

“One of the things I have said to companies that are involved in this, is that for me once there is a question mark in terms of a transaction you did, we will still look at it, and then you need to come clean to the table.

“My simple reading is that if there is $1 billion that was paid illegally, that is $1 billion the federal government should have gotten if you didn’t do illegal bribe.”

Kachikwu added: “In the next coming months, we are going to be sitting down, different from what the EFCC is doing to say we need to talk because two things will happen without any impact in terms of the project which must continue because these are huge billions of dollars of investments coming to Nigeria, so I am not going to shut that down.”

Pressed for further explanation on this, Kachikwu stated: “The issue of the criminality is outside my realm. My realm is doing two things: make sure the investment

goes ahead so we can get returns, and two, get back the $1 billion from wherever they said they have put it and give me back the money so that the federal government can have it back.

“But if in fact, there are question marks, as it is almost becoming apparent from all the data that we see that monies were paid, so we will need to sit down with them.

“For me as a business man, there is $1 billion that is lying out there, paid to the wrong person, so we need to see how we can get that $1 billion and therefore give the IOCs a clean bill of health.”

On the NLNG Train-7, the minister explained that within the next 18 months, partners should sign the FID to enable the project proceed.

He suggested that the government’s recent part-payment of the joint venture cash call debt to the international oil companies (IOCs) would also boost the confidence of NLNG investors to proceed with the FID.

NIGERIA EYES SIX MONTHS EXTENSION EXEMPTING IT FROM OPEC PRODUCTION CAP about 1.8 million barrels per day (bpd) for six months beginning from January 2017, in an effort to drain the crude oil glut that had depressed prices for over two years.

The two blocs also agreed to allow countries like Nigeria, Iran and Libya, which had experienced repeated disruptions to their production to be exempted from the deal.

With the exemption from the production freeze, Nigeria has seen its production, which dropped to an average of 700,000 barrels per day (bpd) on account of militant attacks in the oil-rich Niger Delta, rise to 2 million barrels per day (mbpd).

But as the expiration of the freeze draws near and with OPEC due to meet on May 24 in Vienna, Austria, to take a decision on whether to extend the deal or not, Kachikwu stated that he had strong convictions that the agreement would be extended and Nigeria also exempted.

His conviction, notwithstanding, the production freeze has also

come with recommendations from different quarters for OPEC to extend the deal for another six months from June.

“The indication that I have so far is that there is a willingness to extending that,” said Kachikwu when he was asked about the possibility of the extension happening.

He further stated: “I expect we (Nigeria) will get OPEC exemption, but one year from now, will it be renewed? I am not too sure.”

The minister backed his push for an extension of Nigeria’s exemption from the deal with claims that the country will need a little more time to complete a number of critical export pipelines, some of which he said were nearing completion.

“Over and above extending, we need to continue to engage.

We need to find a way to stabilise international oil prices, otherwise everybody will lose out,” he added.

He maintained that producers in the US and Canada would

have to come to the table with OPEC and non-OPEC members because at the end of the day a lot of investments are at stake.

Also, he revealed that the federal government, Shell and the Nigerian Agip Exploration Limited (NAE) will go ahead with the $13.5 billion Zabazaba deepwater project located in Oil Prospecting Lease (OPL) 245 despite the controversies and corruption allegations surrounding the oil block.

Kachikwu said that the project will go on as scheduled by the partners, adding that the protracted dispute over the block with Malabu Oil and Gas Limited would not affect it.

According to Kachikwu, his ministry will not flag down the project on account of the dispute, because its continuation had nothing to do with it.

Kachikwu also disclosed that partners in the Nigerian Liquefied Natural Gas (NLNG) Limited are expected to take a Final Investment Decision (FID) on the company’s seventh train,

which when completed would lift the capacity of the plant to 30 metric tonnes per annum (mtpa).

The Zabazaba deepwater is a Greenfield offshore project located in the eastern portion of the Niger Delta in water depths ranging from 1,200 to 2,400 metres.

The oil field is believed to hold 9 billion oil reserves, which will make it one of the most prolific fields when it comes on stream.

The minister however stated: “Malabu continues to be a worry, it happened before this administration and it is in court.

“This matter is being handled not just in Nigeria, action is going on in France and some other countries, the facts are there. As a lawyer with years of experience I try not to comment on this.

“There is a difference between recovering the illegal payments and dealing with those claiming to be beneficiaries of the block itself. The Zabazaba and other projects that have been signed on would have to go on.

“That has nothing to do with recovering the money. In

T H I S D AY THURSDAY MAY 4, 2017

13

14

T H I S D AY THURSDAY MAY 4, 2017

COMMENT

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

NIGERIA IS NOT WORKING

The country needs a new beginning and direction, contends Tola Adeniyi

T

his has nothing to do with Buhari’s administration, and it is not about the craziness of our foreign exchange policies and the shameful murder of the naira. The problem with the contraption called Nigeria predates all the symptoms that are now showing their faces. And unfortunately rather than squarely address the root causes of our problems our thieving ‘leaders’ are busy tackling the symptoms, albeit half-heartedly.

After 102 years in darkness it is now obvious that Nigeria is not working and it is unworkable. We have a country of 192 million people crammed majorly in unplanned urban centres where quality of life is just slightly higher than that of lower animals. We have a country where law and order has virtually broken down and we are drifting fast towards malicious anarchy and yet those who imposed themselves on us as ‘leaders’ are busy looting the country. We have a country where all facilities that should aid modern living have virtually disappeared and yet all we hear and see is unbridled selfishness of those supposed to right wrongs.

We are living in a country where a very tiny section of the populace has taken it upon themselves to crudely lord it over the rest of the country whether-you-like-it-or-not through unabashed terrorism and shameless gluttony. Or how do you explain how ALL commanding positions of security, intelligence, immigration, customs, defence and police are concentrated in the hands of less than 10 per cent of the entire federating units, and you deceive yourselves that you are running a federal system of government?

There is much tension and unease in the land. There is so much injustice, glaring and choking injustice that makes everybody grumbling day in day out. All complaints and appeals over the years have persistently fallen on deaf ears or at best treated with derision and condescension.

The supremacists Fulani who number less than five per cent of the country’s population have turned themselves into the super masters of all the ethnic nationalities in the country. Since they conquered and brutalised the Hausa in the early 1800s and followed the conquest with diminishing all the minority nationalities in the Northern section of Nigeria, they have come to regard the larger nationalities south of the Niger and Benue as conquered territories that must be exploited to the keel. Let me quickly salute the Fulani for their political sagacity, their expertise in divide-and-rule culture, their superb mastery of Machiavelli principles and practice and for their cold bloodedness. They inherited the art of trickery from their Arab cousins and compounded it with the taciturn diplomacy of the Anglo-Saxons. For the Fulani, power is everything. And of course political power is the next thing to God. Secure political power other things like position, patronage and privilege will be automatically added to it. The Fulani, like the legendary Chairman Mao know that power flows from the barrels of gun powder, a lesson they learnt and imbibed also from the British colonisers who gave them a head start in Nigeria during the notorious and fraudulent Amalgamation.

But then, even the Italian princes fell and were routed out. The British Empire collapsed ignominiously, first in North America and in other hitherto exploited colonies. It is the arrogance of power and the disregardful exercise of same plus archaic nepotism and parochialism that have now reopened old wounds which compel other nationalities in the country to cry for justice and an end to arrant domination.

WE HAVE A COUNTRY WHERE ALL FACILITIES THAT SHOULD AID MODERN LIVING HAVE VIRTUALLY DISAPPEARED AND YET ALL WE HEAR AND SEE IS UNBRIDLED SELFISHNESS OF THOSE SUPPOSED TO RIGHT WRONGS

Nigeria is not working. India was not working; that was what led to Pakistan breaking away. Pakistan was not working; that was what gave room to Bangladesh to break away. The Sudan upon which Lugard modelled Nigeria did not work for decades even with bloodletting, she too crumbled and Southern Sudan gave herself life.

The Fulani herdsmen classified by the United Nations as the fourth most terrible terrorist group in the world are busy plundering, maiming, murdering, and recklessly uprooting and occupying other people’s lands with impunity and immunity and some bad mouth would say all is well with Nigeria?

Plateau people cry foul every day with most of their farm lands stolen and occupied; Benue people are about to be completely annihilated; the Christians of Southern Kaduna are about to become history in the wake of recurrent deadly attacks on their land. Thousands have been murdered in recent years in a calculated and systemic mode of pogrom.

Almost all sections of the country except the Caliphate have come under the rampaging brutalisation by the Fulani herdsmen. And yet someone in a remote corner would dare suggest that life should continue as usual.

Solutions to all the problems plaguing the contraption called Nigeria are there for all sincere and patriotic people to see: Go back to regionalism and let all regions develop at their pace; constitute a Confederate form of government and kill the friction and the choking domination from the Centre; free the country from the stranglehold of the Fulanicontrolled military establishment, with regionalism and confederation community, local, state, and confederal police will emerge.

Abuja is too congested. The practice of governors of very unviable and military created mushroom states going cap-in-hand to Abuja every month is CERTAINLY contrary to the spirit and letter of a federal system of government.

Local governments anywhere in the world are not subject to the control of the federal government at the centre except in Nigeria with its fraudulent political structure.

Our infrastructure, our education, our health care delivery facilities, our industries, our refineries, our cherished traditions and cultures have ALL collapsed because Nigeria is unworkable and NOT working.

We have said it several times and we shall say it again that if a system is not working it is better to jettison it and try another model. The fraudulent Amalgamation has not worked. The internal colonialism has not worked. The arrant and arrogant domination has not worked.

The unitary form of government has not worked. The corruption-laden presidential system has not worked and is not working. The politically motivated creation of mushroom states has not worked and is not working. The fraudulent creation of 774 local governments has not worked and is not working. Every ethnic nationality is crying for freedom from the yoke of internal domination. Most of the confederating nationalities are crying for secession and justifiably so. There is no peace in the land. There is no unity and the country is rife with mutual suspicion and acrimonies. One last chance: Let the so-called leaders resolve to give Nigeria a new beginning and direction. Let us resolve all the obvious problems and give SANITY a chance or PERISH.

SUSTAINABLE FINANCE AND FINANCIAL SERVICES IN NIGERIA

T

Kenneth Amaeshi argues that sustainability should be seen as a culture that permeates all facets of business decisions

he emergence of the smartphone technology changed the business of photography forever. Everyone now takes pictures anywhere with ease. A time was, when it was never that easy. The likes of Kodak dominated the industry then.

Today, Kodak is gone because it did not pay close attention to the threat posed by the smartphone technology to its business. It did not adapt to the changing nature of its business environment. The rest now is history. Sustainability is the potential new threat, if ignored or taken for granted.

Sustainability has become a new mantra, a philosophy of sorts. It however means different things to different people. If one takes the literary meaning of the word, it simply suggests longevity or the ability to continue to be in existence irrespective of counteracting pressures. Another word often used in this regard is resilience. While longevity and resilience are integral to sustainability, they tend to, somewhat, present a narrow and limited view of sustainability.

The broad view of sustainability goes beyond resilience and longevity and emphasises the need to balance environmental, social, and economic considerations in decisions. It is directly linked to the quest for sustainable development – a development that does not inhibit future generations in their quest for development. It recognises the nested interdependency amongst the economy, society, and environment.

In other words, the success of the economy is dependent on the viability of society, and the success of society is linked to the viability of the natural

environment. As such, without the environment there will be no society, and without society, there will be no economy. The three are interwoven.

Sustainability thus strives to ensure the integrity of this nested interdependency. This is very much at the heart of the Sustainable Development Goals (SDGs).

In July 2015, the UNEP Finance Initiative and Nigeria’s Financial Services Regulation Coordinating Committee (FSRCC) co-hosted an event on sustainability for senior officials and board members of the Nigerian financial regulatory community. The event was to raise awareness and build capacity around the concept of sustainable finance – i.e. the application of the SDGs to, and the financing of the SDGs by, the financial services sector.

Members of the FSRCC include the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Securities and Exchange Commission (SEC), National Insurance Commission (NAICOM), Corporate Affairs Commission (CAC), Federal Ministry of Finance (FMF), Nigerian Stock Exchange (NSE), Nigeria Commodity Exchange (NCX), the Federal Inland Revenue Service (FIRS), and the National Pension Commission (PenCom).

Following the event, the Nigerian financial regulatory community agreed to develop and implement a national sustainable finance road map. This sustainable finance road map requires each member of FSRCC to develop and implement operational and industry strategies founded on the principles of sustainable development. In other words, members of FSRCC are required to ensure that they embed the principles of sustainability in their everyday organisational practices as well as in the industries

they regulate.

Some of the issues to be covered include the integration of environmental and social risks in investment and lending decisions, proactive pursuit of financial inclusion, recognition and respect for human rights, health and safety in the workplace, women economic empowerment, minimisation of direct and indirect carbon emissions, waste management, impact investing, good governance and reporting practices, et cetera. It is expected that each regulator will complete the process before December 2019. With the full spectrum of the Nigerian financial regulatory community covered, it is obvious that all sources of finance in Nigeria – debt and equity – are now required to respect and reflect sustainability principles. Finance is the life-blood of any business.

Therefore, for any firm to have a future in Nigeria, it must conform to the tenets of sustainability; and herein lies a danger.

For a long time now, Nigerian businesses have treated sustainability as a luxurious option. Due to the perceived challenges of doing business in Nigeria, the focus of most businesses has always been on survival first. As such, the pursuit of sustainability is seen as going the extra mile, which isn’t necessarily good for business. This is a myth. It is also poor thinking.

There is significant empirical evidence that sustainability is good for business. Imagine you run a bank with 600 branches in Nigeria. Imagine each branch spends an average of N1.5m on diesel every month.

Your annual spend on diesel is a whopping N10.8bn.

This is enormous and not good for your balancesheet and the natural environment. How much of

this N10.8bn could be saved, for instance, through alternative sources of energy and other efficiency measures? The same applies to paper usage, business travels, waste management, water consumption, health and safety in the workplace, et cetera.

In sum, the sustainability turn is a quest for effectiveness and efficiency. It is first and foremost an organisational orientation committed to reducing its negative impacts and increasing its positive impacts on its different stakeholder groups (e.g. customers, shareholders, employees, regulators, the government, unions, local communities, et cetera). It is about creating shared value – i.e. win-win outcomes for business and society. It is a business orientation and culture that recognises the firm as an entity embedded in a network of relationships with different stakeholder groups. It is a form of self-regulation driven by the values and philosophy of a business.

For Nigerian businesses to benefit from it, they need to start seeing it as a better way of managing risks, exploring opportunities, and adapting to changing business contexts and expectations for long term success. They will need to go beyond the piecemeal approach of corporate social responsibility (CSR), which often attracts strong cynicism in boardrooms, as corporate philanthropy - an extra cost, which most businesses will like to avoid.

They need to embed sustainability thinking in their strategic decisions and everyday practices.

Dr.Amaeshi is a scholar in residence at the National Pension Commission, Nigeria, and professor of business and sustainable development at the University of Edinburgh Business School, United Kingdom

15

T H I S D AY • THURSDAY MAY 4, 2017

EDITORIAL GOVERNMENT AND TAX DEFAULTERS There is need to bring more people into the tax net

D

ue to the slump in the cost of oil in the global market, the pressure on the tax authority has never been greater, particularly in our country. The Minister of Finance, Mrs. Kemi Adeosun, was perhaps responding to this pressure when she said last week that the federal government might adopt “name and shame” strategy to expose tax defaulters in the country. We wait to see how that would work.

Nigeria is a country of mostly tax dodgers. “We have about 13 million tax payers in Nigeria,” said Adeosun, “and about 12.5 millions are those who have their taxes deducted. Are we saying all the wealth and self-employed are 500,000? We are going to be more aggressive on tax collection.”

The idea of “naming and shaming” as tax enforcement strategy works on the principle of damaging the reputation of those involved, in the public domain. In this instance, the tax authorities will likely publish the names of the delinquent tax payers in the newspapers NOT MUCH CAN BE or on their website.

DONE TO ENHANCE TAX Indeed, not too long ADMINISTRATION IF THERE ago, some finance IS NO COMPREHENSIVE houses tried this DATABASE OF THE TAX combative measure PAYERS of shaming defaulters by publishing their names in the newspapers. But it soon dawned on them that the method was unhelpful and counterproductive.

There is no doubt that the nation’s tax to the Gross Domestic Product (GDP) ratio, currently put at six per cent, is one of the lowest in the world. Countries the world over depend largely on taxation to drive their economy. Indeed, some countries are up to 70 per cent dependent on tax revenue. Ghana’s is not too impressive but they at least realise about 15 per cent of their revenue from taxation.

That is why we support the government tax drive in order to prop up the country’s sickly economy.

Letters to the Editor

There is urgent need to expand the taxation net and bring in more people into its fold. Yet, there are no easy ways out. For instance, the erstwhile acting executive chairman of FIRS, Mr. Sunday Ogungbesan believes it would be counterproductive to seal up defaulting companies because such a course of action would affect workers and ultimately, the GDP.

H T H I S DAY

EDITOR IJEOMA NWOGWUGWU DEPUTY EDITORS BOlAJI ADEBIYI, JOSEpH USHIGIAlE MANAGING DIRECTOR ENIOlA BEllO DEPUTY MANAGING DIRECTOR KAYODE KOMOlAfE CHAIRMAN EDITORIAL BOARD OlUSEGUN ADENIYI EDITOR NATION’S CAPITAL IYOBOSA UWUGIAREN

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

EDITOR-IN-CHIEF/CHAIRMAN NDUKA OBAIGBENA GROUP EXECUTIVE DIRECTORS ENIOlA BEllO, KAYODE KOMOlAfE, ISRAEl IWEGBU, IJEOMA NWOGWUGWU GROUP FINANCE DIRECTOR OlUfEMI ABOROWA DIVISIONAL DIRECTORS pETER IWEGBU, fIDElIS ElEMA, ANTHONY OGEDENGBE DEPUTY DIVISIONAL DIRECTOR OJOGUN VICTOR DANBOYI SNR. ASSOCIATE DIRECTOR ERIC OJEH ASSOCIATE DIRECTORS HENRY NWACHOKOR, SAHEED ADEYEMO CONTROLLERS ABIMBOlA TAIWO, UCHENNA DIBIAGWU, NDUKA MOSERI GENERAL MANAGER pATRICK EIMIUHI GROUP HEAD fEMI TOlUfASHE DIRECTOR, PRINTING PRODUCTION CHUKS ONWUDINJO TO SEND EMAIL: first name.surname@thisdaylive.com

owever, the FIRS under the leadership of Mr. Tunde Fowler is doing more to ensure that companies and indeed individuals perform their civic responsibilities. At perhaps one of the most trying times in the nation’s economic history, the FIRS reportedly realised a record N3.3 trillion in tax revenue in 2016. This was possible because the tax authorities were able to broaden the tax base and brought in more than 800,000 additional taxpayers nation-wide by the end of last year. Some 3.4 million tax payers were also brought into the net by the States Internal Revenue Service.

Fowler attributed last year’s haul in tax revenue to partly simplifying the process of payments. Tax payers were simply asked to file their returns at the nearest FIRS offices close to them instead of travelling long distances. The automation of its system in the introduction of the integrated tax administration system (ITAS), automation of taxpayer registration and issuance of tax identification number (TIN) to both corporate and individuals and for tracking and remittance of value added tax (VAT) from key sectors have also helped over the years. So was the introduction of e-tax payment, an online electronic system.

However, not much can be done to enhance tax administration if there is no comprehensive database of the tax payers. Moreover, there is urgent need to revise existing legislations and simplify our tax laws, some of which are out of tune with present realities. Besides, tax expenditure must be transparently governed. Many people will gladly pay their taxes if their “money” is seen to be appropriately spent.

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

REGAINING NIGERIA’S ENVIRONMENTAL TREASURES

T

his year’s world earth day celebration theme, “Environmental and Climate Literacy,” was a vital premise to advocate for protection of our environment with emphasis on climate literacy. Basically, environmental and climate literacy refers to knowledge, effects, benefits and importance of our planet’s surrounding and temperature.

Interestingly, earth is the only planet in the cosmos where life is possible so it is very essential to maintain the natural endowments of the earth in order to enjoy life on earth and not endure it as humans are swiftly pushing with the increased rate at which carbon emissions and careless attitudes plummet ideal natural balance which supports life to stay healthy and alive.

Earth day celebration has been a long time event, since it was first marked 1970, and thereafter every April 22 was adopted for the purpose of making humans aware and appreciate the importance of the planet. It has grown in leaps and bounds from the United States of America and is now observed today in about 195 countries across the world, obviously with Nigeria on the list; how then does Nigeria mark April 22?

In line with 2017’s theme, “Environmental and Climate Literacy”, there is a call for increased participation and efforts to mitigate the effects of climate change and global

warming through environmental conservation, education and advocacy to encourage environmental sanitation.

Nigeria in particular is faced with many environmental challenges; increased industrialisation and burning of fossil fuel (CO2) depleting the ozone layer which prevents us from the ultra violet rays of the sun has made atmospheric temperature very hot and most times unpredictable in many areas. Another big problem is the death of rivers and waterways getting mixed with industrial toxic materials leading to global warming, with increasing industrialisation leading to deforestation and destruction of vegetative zones which helps carbon sequestration and mitigate the depletion of ozone layer.

Today our surroundings are dirty and littered with non-biodegradable materials and solid waste constituted in many areas blocking drainages and waterways giving rise to health and environmental hazards. Saddening, we presently lack the technology however. Our massive human capacity, knowledge, financial resources and political can remedy the present menace- if we collectively get down to work.

Unfortunately, our planet is presently losing about 15 billion trees each year, about 56 acres of forest every minute.

Nigeria perhaps has the highest rate of deforestation in the world, losing about 4,000 hectares annually according to the Food and Agriculture Organisation (FAO). The demand

for fuel wood, agricultural land and housing for our ever increasing population is plundering our forest covers and waste gaining disrepute for Nigeria due to its obvious but humiliating image it constitutes to the nation with no displayed effort at getting rid of the waste scattered all over.

Although it is perceived as the duty of the government to enhance, maintain and enforce environmental laws and order at both federal and state levels, having noted the non-performance or the unfocused effort, much lies on you and I to fill in the vacuum for active public campaigns and environmental advocacy.

The government of the day is encouraged to lead in terms of strategies, policies and enforcement to ensure that its citizens understand the urgent need to avert the impending danger and grossly reduce the ‘unearthy’ rate of logging, poaching, gas flaring and deforestation. There are worthy examples in some developed nations; Nigeria can and should take a cue.

Nigeria’s vulnerability to environmental risk and lack of institutional capacity to respond to threats in a sustainable manner should serve as premise for an increased capacity, advocacy and funding towards environmental sensitisation and enforcement to save our nation from the peril ahead.

Udo-Azugo Somtochukwu, Lagos

16

T H I S D AY THURSDAY MAY 4, 2017

SkyeMobile

Your Bank on your phone

Banking Services

ATM Locator

Bill Payments

Airtime Topup

Bank anywhere anytime… with SkyeMobile Three easy ways to download SkyeMobile application: Visit the Application store on your device and search with the keyword “skyemobile" (for Apple, Blackberry, Google or Windows phones) Send "D Skye" to 20220 and click on the link received to download the App Scan the QR code and click on the link received to download the App

Our

is available 24/7 during the public holidays.

For enquiries, please call -0700-SKYEBANK (070075932265), 08069880000, 01-4482100, 01-2799500 Or e-mail us at: yescenter@skyebankng.com

www.skyebankng.com

T H I S D AY THURSDAY MAY 4, 2017

17

18

T H I S D AY • THURSDAY, MAY 4, 2017

POLITICS

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

PERSONALITY INTERVIEW

Abubakar: Governors Have no Security Vote Bauchi governor, Mohammed Abubakar has been having a running battle with some prominent politicians from the state, including the Speaker of the House of Reps, Yakubu Dogara. The governor recently took some journalists on a project tour, after which he spoke on issues causing divisions in the state, including the prospects for oil discovery in Bauchi.

Onyebuchi Ezigbo was part of the tour and presents the excerpts:

Y

ou were alleged to have borrowed money immediately you were sworn-in as governor and that you misapplied FG’s bailout funds?

When we took over, even before I was sworn in, I was confronted with strike. Workers were owed four months salaries.

I called labour and we sat down, I asked my deputy governor to sit with me. We convinced the workers to return to work because the strike would have affected even the handing over process, the transition process. So I told them to please return back to work and that the moment I am swore in, we would sit down and look for the best way we can to savage the situation. They agreed and they went back to work and we took over government.So it was incumbent on me to find ways and means of settling these outstanding salaries and for that reason I had to take a loan because there was no single kobo in the treasury. For three months, they were collecting money from the federation account and carting it away in the name of security vote.

I needed to pay salaries, we took over in May, by then the raining season had started already and no single bag of fertilizer was procured. I needed to procure fertilizers. The annual pilgrimage to Saudi Arabia was in the offing and time was. You must make certain payments within a certain period of time otherwise you lose out. So these three things had to be done within a short space of time.

For that reason, I called on the State House of Assembly. What most people did not know at that time was that I had not inaugurated the new house of assembly because constitutionally the last House of Assembly had until the 15th of June before its tenure would end. I worked for two weeks with the former House of Assembly members. I called the speaker to my house. At that time, there wasn’t a single appointee of government except the Head of Service whom I inherited from the former government. So we sat, myself, the speaker and the head of service, I told him that you are a son of this state, forget the fact that whatever ills we are crying about were perpetrated by the government in which you are a speaker, it is not time for apportioning blames. You know the situation in which we are; the state was like sitting on a keg of gun powder ready to explode, so please I would request for a resolution from you to enable me borrow N4 billion to pay salaries, procure fertilizers and finance hajj operations.

The speaker promised me that he would have invited all his members for dinner that evening that he was going to throw the matter to them. I instructed the Head of Service to write formally to the house requesting for a resolution and he did. Three or four days later the clerk of the house wrote to us convening the resolution enabling us to borrow the N4 billion that we requested for.

Anybody who understands the constitution of Nigeria will appreciate the fact that, I do not have a hand as to the procedure in the house of assembly. If the house of assembly had sat in plenary to give me that resolution so be it, if they had sat in an executive session to produce that resolution, it is not for me to question how that resolution was procured.

The second issue is that I obtained a loan without an exco resolution. The provision of the constitution is that executive power resides with the governor. Another section of the constitution says the governor shall appoint commissioners and sit with them

Abubakar...believes Abuja politicians want his job

periodically to determine the direction and policies of government. The constitution did not envisage for there to be a vacuum, the law abhors a vacuum and I gave anticipatory approval for that loan to be taken, I wrote it clearly, anticipatory approval is hereby given, please initiate a memo to exco for ratification when the exco is constituted. So ultimately the exco ratified it. But before I did this, not only did I read the constitution, I also read

I am not afraid of anybody who wishes to contest for any office but now is not the time. Now is the time for us to put our heads together and work for this state and when the time of politics starts everybody can aspire

the fiscal responsibility law which we have domesticated in Bauchi state. So there was nowhere where I am prevented from exercising my powers as governor. One month salary was paid, we procured 10,000 metric tons of fertilizers which we distributed to every ward in Bauchi, for the first time fertilizers were taken to the common man, and then we were able to finance the Hajj operations. The federal government of Nigeria gave what is known today as bailout fund for payment of outstanding salaries. Bauchi state government got N8.6 billion to pay these outstanding salaries. Before we did that, the Federal Ministry of Finance requested from us the level of our outstanding liabilities. We wrote and they asked the SSS to confirm to them what the outstanding liabilities of the state was, the SSS confirmed N8.6billion and we were given. Out rightly we used that N8.6b less N88million at the initial stage and we offset the outstanding salaries completely.

For this labour both in Bauchi and at the national level wrote us letters of commendation.

So when we did this, we had N88 million remaining. The Vice Chancellor of the state university came to me to say that he too has outstanding and I asked him what he needed, he said N70million and I ordered for N70million to be given to him which left N18million. After a few months, the same VC came back to me and claimed that his visiting lecturers needed to be paid more and I ordered for the outstanding amount to be paid to him. I had a dedicated account for bail out, it is with Zenith bank. Then came the issue of Paris Club refund for which we received N12.7 billion. I was in a bus travelling from the Port Harcourt airport to the stadium

for a campaign before the last elections in Rivers when the Accountant General of my state confirmed to me that we have gotten that from Paris Club refund. My immediate instruction was that, at that time the state was owing one month salary while two months at local government level. I immediately told him to pay outstanding salaries. Before the federal ministry of finance released the money to us, we were given the tape containing the percentage that each tier of government should have, our own in Bauchi state is 42 for the local government, 58 for the state. We gave the local government their share plus N600 million. As am talking to you today the local government areas in the state are owing the state government N600 million we gave them to offset two months salaries.

They said we are not doing anything. Well, what Nigerians do not know is that Kano is the most populous state in Nigeria and it has 44 LGAs but it has a total man power of 92,000. Small Bauchi state on the other hand with 20 LGAs has 105,000. That is the number of people on my pay roll.

This outstanding salary that I said we used Paris club fund to pay arose from my attempt to verify these civil servants to know the true civil servants in Bauchi state. I met a very strong concrete wall. Those who usually took away about a billion naira from the earnings of Bauchi state every month in the name of ghost of workers, joined together with detractors of Bauchi state that had been denigrating the state and made it virtually impossible for us to get to the bottom of the problem. In addition to this, Bauchi is one of the states that pay above the national minimum wage. Our minimum wage is N18,500. So our wage bill every month is N5.1 billion and if you go back and take a look at the release, you will discover that from the time I have taken over till date, there wouldn’t have been more than three months in which I collected over N5 billion. On the other months, I was collecting less than N5 billion. Today I am proud to say that Bauch state does not owe a single kobo in salary.

How much does Bauchi generate internally?

Despite the crunching economic problems in Nigeria, you have seen some of the things we are doing that we have been able to achieve because essentially our internally generated revenue is pay as you earn nothing more nothing less which hovers N250 - 300 million tops, most months less than N300 million.

There are two roads that we have completed in Fadama Maga in a section of this state metropolis. There are roads we are doing, one from the secretariat roundabout to federal low cost ending at railway. Then we are dualizing most of the entrances into Bauchi state. When you come in from Jos you will see dualisation going on, it will go from 5 km outside town to the Zarada hotel and from there we are rehabilitating it because that portion going to the roundabout, we call Gidamai , we are doing both lanes of that road, and from that roundabout to Awala hotel work is going on.

And then from Awala hotel to a place called Giwa academy that is on the road to Kano we are dualizing. Then we are rehabilitating from Awala roundabout to central market roundabout. We are rehabilitating from Gombe gate to the junction of house of assembly.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

19

T H I S D AY • THURSDAY, MAY 4, 2017

INTERVIEW

PERSONALITY INTERVIEW

Umeh: Give Anambra Central a Senator Now Almost two years after the Eighth National Assembly was inaugurated, Anambra Central Senatorial District is still not represented in the Senate, following the nullification of the election of Uche Ekwunife. In this interview, one of the candidates eyeing the seat and a former APGA chairman, Chief Victor Umeh expressed concerns over the delay in holding an election to choose a senator for the district. He spoke with David-Chyddy Eleke

M

inister of Labour and Employment, Dr Chris Ngige recently said that the Anambra Central Senatorial rerun election would not hold until all pending court cases are cleared, what is your reaction?

I was surprised to read those audacious statements by Dr Chrs Ngige. My surprise stems from the fact that I could not fathom under what capacity Ngige was saying categorically that the poll can never take place until all court cases are cleared. From the question you asked me, he is the Minister of Labour and Employment, he does not work for the Independent National Electoral Commission, INEC, that is empowered by the constitution to conduct elections.

Am aware that INEC has a legal department, staffed by qualified lawyers, and if there s any matter that will prevent the commission from conducting election, the commission will say so at any point in time, based of prevailing circumstances. This is not the first time that Ngige has made this claim, he has made it before at Easter on radio, saying the same thing at an APC meeting corroborates all that we have been hearing that APC will do everything to ensure that INEC does not conduct that election.

Umeh...it is unfair for Anambra Central not to be represented at the Senate

We experienced these things during the PDP days, but now that we are in a government that has preached change, nobody should use his membership of the ruling party or any arm of government to intimidate and dictate to INEC. That is what Ngige has demonstrated, and he has said it everywhere. In fact, this is enough for President Munammadu Buhari to sack Ngige from the Federal Executive Council for embarrassing both APC and the government

Now, what then do you think could be holding the rerun election, if not the court cases as Ngige said?

My reaction first is to state clearly that there is nothing, no legal impediment anymore against the conduct of this Anambra central election that has been pending. The cases Ngige cited in his outburst clearly cannot stop INEC from conducting that election. The issue of the eligible candidates who can take part in a court ordered fresh election or rerun election has been permanently settled by the Supreme Court of Nigeria in its judgment in a case between Labour Party and INEC, which judgment was delivered on the 13th February 2009. That judgment was an endorsement of judgment delivered by the Court of Appeal, Kaduna Division on 10th April 2008, to the effect that elections that are ordered by court through nullifications do not admit new candidates. Labour Party had attempted to put a new candidate in a governorship election in Adamawa, which was nullified by the Court of Appeal tribunal, and the Court of Appeal, Kaduna division in a very detailed judgment said such an election did not admit fresh candidate as only candidates that were qualified and took part in the earlier election could participate in the fresh election.

Labour Party dragged the matter to Supreme Court, and the Supreme Court affirmed that judgment. Unfortunately, people like Ngige are pretending not to know this position of the law.

As early as January 2016, when PDP and APC purported to be trying to conduct a primary to choose a candidate that will take part in the election, I cried out that the law did not permit such futile exercise, they didn’t want to accept it, and they continued. Today, it is clear because INEC submitted to this decision of the Supreme Court in the conduct of all the fresh election ordered by the Court of Appeal across the country, after the 2015 general elections.

Candidates that were disqualified by the final decision of the Court of Appeal were not allowed

to take part in fresh or rerun elections. It was like that in Kogi State where PDP challenged APC for non conduct of primaries in at least four constituencies, two senatorial district, one federal constituency and two house of assembly seats in Kogi State, as it happened in Anambra Central district. It was PDP that challenged the APC winners at the tribunal, and those elections were nullified. In the fresh elections and repeat elections ordered in that state, APC did not participate in all those elections and PDP won all of them, and all the winners have gone to represent their people. In Anambra State, where the same situation arose, APC and PDP refused to accept the position of the law and have continued to do all kinds of things to sabotage the law. You are all aware that after the Court of Appeal nullified the election, the PDP candidate went back to the court of appeal to set aside that judgment after losing there she went to the Supreme Court.

On 10th January 2017, the apex court, in a unanimous judgment dismissed her appeal, and affirmed that the judgment of the Court of Appeal on that matter was final forever, that is the situation.

INEC was to conduct the rerun election last year in March or so, what happened?

Now, this is the position, last year, INEC was to conduct the rerun election on 5th March 2016, but Peter Obi under the cover of PDP went to the Federal High Court. You know that Ekwunife who was candidate of PDP who was disqualified by the Court of Appeal had defected to the APC, and therefore, Obi was put there as a candidate to replace Ekwunife to contest. Four days to the election, the court made an order that the PDP has been included in that election against the law, that judgment was delivered by Justice Anwuli Chikere. You will note that more than eight cases of similar nature came before the same judge and she dismissed them all, except

that of Anambra Central where she ordered that the PDP be included. Of course being against the Supreme Court judgment I had earlier stated, INEC decided to appeal against it. In all the previous matters I mentioned from other places, INEC was the only party sued, and the same judge said they cannot do that, I now said why is this one different, and they decided to appeal against it. Of course I applied to appeal against the matter as an interested party, but the judge refused to join me me in the matter. So, when the leave was granted to me, I appealed, INEC appealed, PDP now came with its notorious tactics of frustrating the appeal and challenged the record of the appeal transmitted by the Federal High Court to the Court of Appeal.

On 22 July last year, the Court of Appeal dismissed the PDP’s application and awarded a cost of N100,000 against them. They filed an appeal to the Supreme Court against that ruling, from July 2016, till today, 26th of April, PDP has not filled any brief in pursuit of that appeal at the Supreme Court, they just used it to hang the election, and what they did was that as soon as they filled it, they rushed back to the Court of Appeal and flagged the appeal number before them that they are now in the Supreme Court, and therefore the Court of Appeal has to wait. They are not interested in pursuing that appeal till today. Again, on 14th March 2017, in the matter filled by APC and Sharon Ikeazor for substitution, the same court gave judgment and went back to what the law said. Look at what Justice Chikere issued the previous judgment including PDP in the rerun said; this judgment that came up on 5th of April, which I have now forwarded to INEC. The judge said the time for nomination, withdrawal or substitution of candidates for the court ordered election for Anambra Central Senatorial district had elapsed. So by this judgment, the claim that there was an order that PDP should change its candidate has been overtaken. It is the same judge who wrote this, and it is very clear in law that when a judge gives two conflicting judgment on a matter of the same substance, the latter judgment prevails over the earlier. So she has over ruled that judgment so INEC can no longer say they are waiting on that judgment as that appeal against that judgment of PDP has become an academic exercise. That is even if we are going to consider the order made by this court in flagrant breach or disobedience to the earlier decision of the Supreme Court on the same matter on candidates that can take part in court ordered elections. INEC could have even ignored that first order to go ahead and conduct the election because there is a subsisting Supreme Court judgment on the matter they can rely on to do the election.

But to make the matter very clear, the woman now reversed herself and stated the law. So if the law is that there is no room for fresh candidate in fresh court ordered election, there is nothing holding INEC from conducting the election and stopping any fresh candidate. PDP wants a fresh candidate, Ekwunife is gone, disposed both by the Supreme Court and she is not even in existence in this matter anymore, so Peter Obi who is angling to come in as a fresh candidate, and he cannot because this judgment has taken care of it absolutely, so we are waiting for a date for this election to take place, and very urgently too.

NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

20

THURSDAY, MAY 4, 2017 • T H I S D AY

FEATURES

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

A Worthy Farewell Laleye Dipo writes on the farewell party organised for a 96-year-old Irish clergyman, Jeremiah O'Connell, whose teaching career in Niger State spanned over 50 years

The celebrant, Reverend Father Jeremiah O'Connell

F

or 50 years Reverend Father Jeremiah O'Connell was the principal of Fatima Secondary School, St. Malachi's Secondary School and later the Government Secondary School (GSS) Minna.

At first the schools were owned by the missionaries, justifying the appointment of Father O'Connell, as he was popularly called, as the head of the institutions. But even when the Niger State government, in 1976, took over all missionary schools and renamed them, Father O'Connell was still retained as the Principal of the new GSS Minna.

As a missionary, Father O'Connell did not compromise standards and discipline among staff and students. Despite the large number of staff and students in the school, he knew everyone by name and would recognise them even in the dark.

Father O'Connell took academic performance in GSS Minna to a very great height that it was difficult for any student that sat for public examinations in the school not to come out in flying colours. The academic standard attained by the school under his tutelage made the institution a first choice school for most parents in the state.

It was said that Father O'Connell would just not accept the list of Year One students sent to his school by the Ministry of Education. He was the first to start what is now nationally known as Post UTME. He would assemble all those sent to his school for Year One in a hall and present them with an examination which they have to pass to remain in the school. Those that failed these tests were returned to the ministry for reposting to other schools because they have not met the GSS Minna academic standards.

Interestingly the ministry never queried Father O'Connell for rejecting its lists. No other school principal in the state was known to have been given such a privilege.

As the School Head, the Irish clergyman would pick up the chalk and teach any

Niger State deputy governor, Alhaji Alhaji Mohammed Ahmed Ketso (left), presenting a plaque to Rev. Father O’Connell, during a farewell party organised for the 96-year-old Irish clergyman

class he found without a teacher during his daily inspection of the school. By so doing he was able to put all the teachers on their toes.

Godwin Achituabe, National President of Fatima Old Students Association, speaking on the proficiency of Father O’Connell declared, “he seemed to us to know every

The red carpet was rolled out and everybody that matters in the educational development of Niger State graced a farewell reception organised in his honour. Even those that could not attend sent strong delegations to show the high esteem to which they held the Irish clergyman. The 5000 capacity auditorium of the Justice Idris Legbo Kutigi International Conference Centre in the Niger State capital was packed full of old students, friends and associates of Father O’Connell

subject in the school curriculum. This was demonstrated by the fact that Father would enter any class without a teacher ask what subject period it was, pick up text book and teach the class in the absence of the subject teacher. For this reason teachers hardly left their classes unattended to.

Father was indeed a Jack of all trades and master of all. Once admitted into Father’s school you are bound to graduate unless by natural causes the educational pursuit of the student was terminated.

Even in the days of payment of school fees, Father O’Connell would not only waive payment of fees for indigent students he would also create opportunities for such students to earn some pocket money to help themselves through vacation jobs.”

“Students of the GSS Minna when Father O’Connell held sway were beauties to behold, always immaculately dressed, you dare not put on one uniform on more than two occasions in a week. Representatives of the school for several years dominated the candidacy of Niger State at the national quiz and schools' debates competitions justifying how sound the students were in moral, academic and extra curricula activities. They were also very outstanding in sporting activities, some even became national athletes.

“Father has produced more than 3000 university graduates, a large number of them now medical and academic doctors and professors,” an official of the Niger State Ministry of Education submitted.

Father O’Connell’s dedication to duty and contribution to the educational development of Niger State and Nigeria have not gone unnoticed because, as far back as 1974, he received the Principal of the Best Secondary School in the North Western state and the Best Principal in Niger State in 1999. In 1992 and 2008 he was honoured with the ‘Most Outstanding Performance and Productivity’ award by the Niger State government. Father O’Connell was given national recognition

for his service to Nigeria and development of education in the country when former President Olusegun Obasanjo honoured him with the national honour of the Member of the Federal Republic (MFR).

First Class traditional ruler in the state and Emir of Minna Dr. Umar Farouq Bahago bestowed on Father O’Connell the traditional title of Jagaban Ilimi Minna (Shinning light of education in Minna).

He had arrived Nigeria in 1962 with Calabar being his first destination. This was just one year after his ordination into the Catholic Priesthood. After five years stay in Calabar and Ikot Ekpene, Father O’Connell was posted to Minna as a Supervisor of Schools owned by the Catholic Mission.

For 55 years, the cleric was involved in the training of many Nigerian youths. As one of his old student said “he was education and education was part and parcel of him”.

At almost 89 years Father O’Connell did not plan to leave Nigeria until when a delegation from Ireland reportedly came to the country to force him to return to that country as a result of his old age. He was said to have reluctantly agreed and the process for his disengagement began with the Fatima Old Boys Association championing the cause.

The red carpet was rolled out and everybody that matters in the educational development of Niger State graced a farewell reception organised in his honour. Even those that could not attend sent strong delegations to show the high esteem to which they held the Irish clergyman. The 5000 capacity auditorium of the Justice Idris Legbo Kutigi International Conference Centre in the Niger State capital was packed full of old students, friends and associates of Father O’Connell. Some could not even get a seat in the hall and had to loiter outside the building. Present students of the college presented a drama in which they mimicked the life of Father O’Connell as a school principal and how he used to pick

21

• T H I S D AY THURSDAY, MAY2, 2017

FEATURES

L-R: Minister of State, Solid Minerals, Abubakar Bawa Bwari, Niger State deputy governor, Alhaji Ahmed Mohammed Ketso, Rev. Father J.D. O'Connell, Bishop Uzougwu and Sheikh Ahmed Lemu, at the farewell reception

L-R: Niger State deputy governor, Alhaji Ahmed Mohammed Ketso, a student who acted as Rev. father O'Connell in a drama being congratulated by the celebrant, Rev. Father O'Connell while Bishop Uzougwu looks on

on stubborn students and teachers. Traders made brisk business selling portraits of the Irish clergyman and other educational materials. Niger State’s Deputy Governor, Alhaji Mohammed Ahmed Ketso, who represented Governor Abubakar Sani Bello at the occasion advised up and coming Nigerians to “imbibe the selfless service, sacrifice, humility and dedication to duty of Reverend Father O’Connell.”

Ketso said “after 50 years of sacrifices and service he could not boast of a house and a car except the engineers, medical doctors, professors, and teachers that he has produced over the years.”

A leading Islamic Scholar, Sheikh Ahmed Lemu, in his testimony, described Father O’Connell as a religious leader who never

allowed his Christian background to affect his relationship with members of other faiths. Sheikh Lemu spearheaded the call on the Niger State government to rename the Reverend Father O’Connell Secondary School to Father O’Connell Grammar School, a suggestion that was promptly accepted and implemented by the Niger State government.

A former Registrar of the Federal University of Technology, Minna, Alhaji Yussuf Datti described the Irish clergyman as “the Iroko of education in Niger State.”

"We have come here in large numbers as distinguished guests, friends and colleagues, lovers of education or as ex-students to honour and bid farewell to our Iroko tree, who has given his all for the benefit of

Nigerlites, Nigerians and humanity at large,” he said. “In all walks of life locally, nationally and internationally you will find the fruits of the tree nurtured by Father O’Connell.

In all of this, I have personally taken to heart the motto of our school-Integrity.

Why do we care so much about things that really don't matter?

“This is Father O’Connell leaving for home just as he came: no personal house, no car, no property or huge bank accounts and none of all those things that lure persons to corruption.”

National President of the Fatima Old Students Association, Mr. Godwin Achituabe, in his tribute declared that “we shall miss a father indeed who, although without a biological child, was a father in the real

sense of the word. We shall miss a lover of the underprivileged who never allowed pecuniary challenges to truncate the education of the indigent; we shall miss the founder of the Father O’Connell Educational Foundation, established to provide indigent students with scholarship to pursue their higher education.”

To show the sincerity of the Niger State Government to the Reverend O’Connell project, the administration of Governor Bello has completed arrangement for a three man delegation to accompany the Irish clergyman to his native land, Ireland.

The question on the lips of several lovers of education in the state is “can we have another Father O’Connell in Niger State and Nigeria?”

22

IMAGES

L-R: Group Head, Strategy, Planning & Marketing, AXA Mansard Insurance Plc Kola Oni; CEO, AXA Mansard Insurance Plc, Yetunde Ilori,; Group CEO, JAGAL, Maher Jarmakan; Head, Digital Marketing & Sales, Tejiri Oghenekaro and, Head, Investor Relations and Communications, Emeka Muonaka both of AXA Mansard Insurance Plc during the presentation of the BusinessDay award for the most Innovative Insurance Company in Nigeria to AXA Mansard Insurance Plc in Lagos...recently.

L-R; Lagos State Governor, Mr. Akinwumi Ambode; President, the Institute of Chartered Accountants of Nigeria (ICAN), Deacon Titus Soetan; Presenting 2017 ICAN Merit Award to the former President Olusegun Obasanjo, at the ICAN 2017 Annual Dinner/Award in Lagos...recently SUNDAY ADIGUN

T H I S D AY • THURSDAY, MAY 4, 2017

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

L-R; Vice President, Chartered Institute of Taxation of Nigeria (CITN), Cyril Ede; President, Teju Somorin; and special guest of honour, Callistus Ekenze at the 36th induction ceremony of CITN in Lagos...recently FAITH OBOSI

L-R: Executive Director/CEO, National Primary Health Care Development Agency (NPHCDA), Dr. Faisal Shuaib; Minister of Health, Prof. Isaac Adewole and Vice President, Clinical and Medical Affairs for Emerging Markets GSK, Dr. Anil Dutta, during a courtesy visit on the Minister of Health by the management of GSK, on the Commemoration of African Vaccination Week, in Abuja...recently

L-R Former acting Director-General,National Directorate of Employment, Mr. Olakunle Obayan(left) and Incoming Director-Genera,l Directorate of Employment, Dr. Nasiru Mohammed,during the handing over ceremony in Abuja..recently KINGSLEY ADEBOYE

The new Managing Director of the Nigeria Export-Import Bank (NEXIM), Mr Abubakar Bello(left)and the outgong MD Mr. Bashir M. Wali,at the handing over ceremony in Abuja...recently

L-R: Chairman, House Committee on Establishment and Trainning, Lagos State House of Assembly, Mr. Adedayo Olufemi-Famakinwa; out-going Director General, Lagos State Public Service Staff Development Centre (PSSDC), Mrs Olubunmi Fabanwo; General Manager, Lagos Procurement Agency, Mr. Fatai Onafowote; and Permanent Secretary, Local Government Service Commission, Mrs. Omobolanle Ogunmola, at the Presentation of PSSDC’s ‘Book of Reading’ in Lagos...recently

L-R: Chief Executive Officer, Weco Systems International, Obinna Ekwonwa; Executive Commissioner, Stakeholders Management, Nigerian Communications Commission (NCC), Sunday Dare; Executive Director, Technology and Solutions, Weco Systems, Nnamdi Onyebuchi; and Principal Consultant, Business Development, Weco Systems, Fidelis Obidike, at the Beacon of ICT (BOICT) award ceremony in Lagos... recently

T H I S D AY • THURSDAY, MAY 4, 2017

23

BUSINESSWORLD NIBOR OVERNIGHT 1-MONTH

R A T E S 166.7500 18.5671

3-MONTH 6-MONTH

A S 21.6018 23.0226

A T

NITTY 1-MONTH 2-MONTH 3-MONTH

Group Business Editor ChikaAmanze-Nwachuku Email: chika.amanzenwachukwu@thisdaylive.com 08033294157, 08057161321

A P R I L 16.2494 19.0286 19.6985

2 8 ,

6-MONTH 9-MONTH 12-MONTH

20.3309 21.7643 22.5784

2 0 1 7

EXCHANGE RATE N306.05/ US DOLLAR AS AT LAST FRIDAY

Quick Takes

OAAN Appoints Utomi, Akande Patrons

COURTESY VISIT

L-R: Team member, Brand Compliance Management, Heritage Bank Plc,Ozena Utulu; Big Brother Naija house mate, Marvis Nkpornwi; Group Head, corporate Communications, Heritage Bank, Fela Ibidapo and Media Sales Executives at MultiChoice,Omobolaji Mogaji, during the visit of BB Naija 5 Top finalists to Heritage Bank, in Lagos... recently

Bayelsa Keys into FG’s Proposal to Bankroll New Modular Refineries Chineme Okafor in Houston, Texas Governor of oil-rich Bayelsa State, Mr. Seriake Dickson, has disclosed that the state may be the first of the nine Niger Delta states to independently adopt the federal government’s plan to build modular refining units in each of the oil producing states, with its plan to fund one.

Dickson told journalists at the ongoing Offshore Technology Conference (OTC) in Houston, Texas, United States, that the state government has set up a special purpose investment company to undertake this.

He stated that Bayelsa could commit as much as $2 million to build and run one modular refinery in state, and equally partner with private investors

ENERGY on this. As part of its larger development plan for the oilrich but volatile Niger Delta region, the federal government had pledged to build modular refineries in each of the states.

Vice-President, Yemi Osinbajo had on March 25 stated that the proposed modular refineries would be sited only in oil-producing areas to address the developmental challenges reportedly from years of neglect.

Dickson however stated at the conference: “We want to take advantage of the new initiative rolled out by the federal government. We have set up a state owned company that will be the special purpose vehicle wholly owned by the state but we are open to partnership with

(the private sector).”

He further stated: “We will committed a percentage of it (for construction). I am told that setting up one of these will cost one to two million dollars but if it is one, we should be able to even do it.

And to guarantee sustainability and maximum productivity we will like to work with the private sector because government is not a good entity.”

Meanwhile, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said that the launch of the economic recovery and growth plan by the government would provide strategic economic partnerships and investment openings worth about $50 billion, most of which would be in the country’s oil and gas sector.

Kachikwu said this while wooing investors at an event organised by the Nigerian Content Development and Monitoring Board (NCDMB) in Houston. The minister said: “The Federal Government of Nigeria has launched a national economic and growth plan for the next four years; this is anchored on the Nigeria oil and gas roadmap among other sectoral roadmaps.

“This roadmap presents exciting opportunities for financial and strategic partnerships in excess of $50 billion (about N1.58 trillion).”

According to him, “About $13 to $17 billion would go to the upstream for the development of upstream Continued on page 24

FG to Inaugurate Committee for ICT Varsity Soon Emma Okonji The Minister of Communications, Adebayo Shittu has said that the much talked about Information and Communications Technology (ICT) University, would fully take off by the fourth quarter of this year.

The minister who gave the assurance during an interview with THISDAY in Lagos, said the committee that would drive the entire process for the commencement of ICT University, would be inaugurated in the next few weeks. “The implementation committee for the take-off of the country’s ICT University will be inaugurated by me, and the committee will be drawn from all relevant sectors, including the academia and the stakeholders of the ICT

ICT industry”, the minister said.

He added: “I can assure Nigerians that the infrastructure is already on ground at the Digital Bridge Institute (DBI), which is being run by the Nigerian Communications Commission (NCC) with four campuses in Abuja, Lagos, Kano and Enugu. We are transforming the DBI into ICT University to address technical skills gap in engineering in the country.”

According to him, the federal government has opened discussions with global technology companies with presence in Nigeria, to adopt each of the four campuses.

What this implies is that the ICT University will be managed as a public/private partnership venture and investors like

Ericsson, Motorola, Google, Microsoft, Oracle, Samsung, among others will bring in their equipment and the required finance to establish the faculties at the university. They will also provide technical experts that will do various forms of training at the four campuses. It will be ICT University for not only Nigerians, but also for the entire African countries, who will be trained on modern technology, Shittu said.

Giving further insight about the ICT University, the minister said: “Government is looking at bridging the entire spectrum of technical skills gap, through the ICT University. Already, Nigerian universities are offering technology and engineering courses, but government has come to realise that the syllabus and equipment with which

these courses were thought, were far out outdated and the graduates that were turned out every year, do not conform with labour market demand, hence the need for ICT university.”

He added: There is exponential development in the global ICT space and Nigeria must align self with this development because ICT itself has become a disruptive industry that is changing the dynamics of a whole lot of things. Today’s technology is fast evolving and we need Nigerians to be part of it, through the establishment of ICT University to address technical skills gap.”

Speaking at the Beacon of ICT Distinguished Lecture/ Awards held in Lagos recently, the Executive Commissioner at Continued on page 24

The Outdoor Advertising Association of Nigeria- OAAN, has appointed Professor Patrick Okedinachi Utomi and Chief Dr. Mrs. Onikepo Akande patrons.

This appointment might be as a result of the numerous challenges confronting the practice of outdoor advertising business in Nigeria, and the association believes that these prominent Nigerians would be able to resolve some of these grey areas.

According to OAAN statement, there is a paramount need to seek out respectable individuals who have influence in the society and the government to be the voice of the association.

The OAAN President, Babatunde Adedoyin reiterated that to actualise this desire: “We considered a somewhat geo-political spread, selecting people of great repute.”

This informed the appointment of Chief Akande, a foremost Industrialist, and the President of the Lagos Chamber of Commerce and Industry. The reason according the OAAN President, “was not only that she occupies a pivotal role in the seat of commerce in Lagos State, but she is perceived to have good will nationwide, having been a two-time Minister of Industry of the Federal Republic of Nigeria Another choice of a patron was Utomi, a one-time Presidential aspirant, a Political Economist who is very vast in socio-economic issues and a veritable tool for advocacy. He is expected to intervene for OAAN in Lagos State, the East and with the Federal government.

Vodacom Business Wins IoT Award

Vodacom Business Nigeria has won the Internet of Things (IoT) Focused Company and Enterprise Solutions Provider of the Year Awards at the 2017 Beacon of ICT (BoICT) Awards.

The BoICT awards, which held recently in Lagos, aimed to recognise outstanding contributions to the growth of information and communications technology (ICT) in Nigeria.

While receiving the award, Vodacom Business Nigeria’s Managing Director, Mr. Lanre Kolade said; “We are proud of our achievements over the years and are grateful to all our customers who have come to realise the benefits of using our solutions.These awards recognise the leadership position we have established in delivering enterprise-grade total communications solutions in the industry. We will continue to take the lead in leveraging technology to drive businesses growth which will in turn accelerate economic development in Nigeria”.

The 2017 BoICT Awards saw over 1,952 739 Nigeria CommunicationsWeek readers vote in different categories, with Vodacom Business Nigeria emerging as the clear winner of the Internet of Things Focused Company, a new category introduced this year. In addition, Vodacom took home the Enterprise Solutions Provider of the Year Award, a title the company held in 2013, 2014, 2016 and 2017.

i-Naira.Com Founder Wins Award

In recognition of his innovation to rid the Nigerian online space of unscrupulous auctioneers, the founder of iNaira. com Integrated Resources Limited, Mr. Hillary Nwaukor, has been awarded Technology Innovator of the Year at the 2017 Beacon of ICT (BoICT) Awards, held in Lagos recently.

The BoICT Lecture and Awards series was organised by Communication Week Media Limited, to honour deserving achievers in the Information and Communications Technology (ICT) industry.

Publisher and CEO, Communication Week Media Limited, Mr. Ken Nwogbo, described the awardee as a trail-blazer and innovator-per-excellence following his efforts to nurture i-Naira Integrated Resources, a wholly owned Nigerian company to become a Consumer Sales Promotion Company (CSP) of repute.

“This is a testament to Nwaukor’s talent and commitment to the growth of the Auction/Auctioneer industry in Nigeria and we are happy that BoICT Awards committee and our readers recognised his hard work, sincerity and dedication towards the development of the rugged solution- i-Naira.com,” Nwogbo said during citation.

“The inability to access forex by telecoms operators, will stunt telecoms growth, which has been contributing about 9% to GDP”

President, Association of Telecoms Companies of Nigeria (ATCON), Mr. Olusola Teniola

24

T H I S D AY •THURSDAY, MAY 4, 2017

BUSINESSWORLD BAYELSA KEYS INTO FG’S PROPOSAL TO BANKROLL NEW MODULAR REFINERIES gas fields with a total of 37.4 trillion cubic feet. $14 to $17 billion would go to the Trans-Nigeria gas pipeline project, gas revolution industrial park at Ogidigben and three power plants for additional 3.2 gigawatts (GW) (3200 megawatts) capacity in the gas and power sector.”

He further said: “$2.5 to $5 billion would be invested in the licensing and establishment of several modular refineries, co-locating a refinery within Kaduna Refining and Petrochemical Company (KRPC) and rehabilitating and upgrading the three refineries.

“In the downstream sector, about $3 to $3.9 billion would go to revamping of liquefied petroleum gas, building of new Compressed Natural Gas (CNG) plants across the country and to pipeline and storage tank constructions.

“While $0.7 to $1 billion would be invested in ventures such as equipment leasing, development of multi-specialist hospital and cancer diagnostic and treatment centers.”

FG TO INAUGURATE COMMITTEE FOR ICT VARSITY SOON NCC, Mr. Sunday Dare said the NCC’s Digital Bridge Institute, which was established in 2004 with campuses in four cities of the country, was modeled after similar ICT Universities and institutions in the world and might be in its way to becoming Nigeria’s first ICT University. DBI’s ADAPTI programme has substantially improved the Information Technology (IT) skills of many students, public civil servants and members of the private sector and has trained over 6000 people since its establishment.

Dare said Nigeria must make deliberate policies that would accelerate ICT penetration, and that the country’s educational curricular must integrate ICT at all levels of education and our systems and institutions must be brought into compliance by training and re-training our people, he stressed.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Crusoe Osagie

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritme)

NEWS

Chevron Reports Q1 Net Income of $2.7 Billion Ejiofor Alike Chevron Corporation reported earnings of $2.7 billion for first quarter 2017, compared with a loss of $725 million in the 2016 first quarter.

The company’s net income for fourth quarter 2016 had dropped to $415 million, compared with a loss of $588 million in the 2015 fourth quarter as a result of the effects of what the company called civil unrest in Nigeria, coupled with normal field declines and the impact of asset sales.

Included in the first quarter of 2017 was a gain of approximately $600 million from the sale of an upstream asset.

Foreign currency effects decreased earnings in first quarter 2017 by $241 million, compared with a decrease of $319 million a year earlier.

Sales and other operating revenues in first quarter 2017 were $32 billion, compared to $23 billion in the year-ago period The company’s Chairman and Chief Executive Officer, John Watson said first quarter earnings and cash flow improved significantly from a year ago.

“We benefitted from increasing crude oil prices and ongoing efficiencies being implemented across the company. We continue to make good progress on reducing our spend,” Watson said.

“Our operating expenses were reduced by about 14 percent from first quarter 2016 and our capital spending declined over 30 percent from a year ago. We started up several new projects and have all three trains at Gorgon online. We also progressed our asset sales programme. The

FMDQ Promises Offerings

combination of these actions contributed to a cash positive first quarter. Overall net oilequivalent production in the first quarter increased 3 percent compared to the 2016 full year and we are on track to meet the 4-9 percent growth goal for 2017 before the effect of asset sales,” Watson added.

Worldwide net oilequivalent production was 2.68 million barrels per day in first quarter 2017, compared with 2.67 million barrels per day in the 2016 first quarter.

Production increases from major capital projects and base business were largely offset by production entitlement effects in several locations, normal field declines and the impact of asset sales.

US upstream operations earned $80 million in first quarter 2017, compared with a loss of $850 million from a year earlier.

The increase was primarily due to higher crude oil realisations and lower depreciation and operating expenses.

The company’s average sales price per barrel of crude oil and natural gas liquids was $45 in first quarter 2017, up from $26 a year ago. The average sales price of natural gas was $2.39 per thousand cubic feet, compared with $1.32 in last year’s first quarter.

Net oil-equivalent production of 672,000 barrels per day in first quarter 2017 was down 29,000 barrels per day, or four per cent, from a year earlier.

Production increases from base business in the Gulf of Mexico,

shale and tight properties in the Permian Basin in Texas and New Mexico, and the Jack/ St. Malo major capital project were more than offset by the impact of asset sales of 68,000 barrels per day, and normal field declines.

The net liquids component of oil-equivalent production increased three per cent in first quarter 2017 to 504,000 barrels per day, while net natural gas production decreased 21 per cent to 1.01 billion cubic feet per day.

CAPACITY BUILDING

CEO, Happytalk Events Limited, Dr. Shogo Oyeniyi; Brand & Corporate Communications Manager, Rainoil Limited, Sumbo Wright; Managing Partner, Brandzone Consulting LLC and Convener, SME DIY Workshop, Chizor Malize and CEO Pierrine Consulting, Seyi Adeoye at the April edition of the SME DIY Brand Workshop in Lagos… recently

OTC Exchange Wema Bank Targets Three Million Customers New Products with ALAT Digital App

Goddy Egene The Managing Director/Chief Executive Officer of FMDQ OTC Securities Exchange, Mr. Bola Onadele.Koko has said the exchange will focus on, amongst others, the diversification of products offerings to include consolidation of OTC FX futures, the introduction of new derivative products such as fixed income, interest rate and currency derivatives this year. He stated this at the fifth annual general meeting (AGM) of the company held in Lagos last Friday. Speaking on the financial performance of the OTC exchange in 2016, he said in 2016, the challenges in the Nigeria financial markets, particularly, the foreign exchange market, resulted in a 1.71 per cent decrease in FMDQ’s total revenue to N2.04 billion, from N2.07 billion in 2015.

He, however, noted that FMDQ was able to diversify its revenue sources resulting in an increase in the contribution of non-transaction fees to total revenue from 20.56 per cent in 2015 to 32.3 per cent in 2016, in line with its strategic objectives.

He said the further diversification of its products offerings

Emma Okonji going forward would go a long in boosting its performance.

The Chairman of FMDQ, Dr. Sarah Alade said the exchange was in a strong position despite the fact that 2016 was a tough year for all Nigerian businesses, FMDQ included.

“Furthermore, FMDQ was able to sustain its growth by continuing to explore new opportunities to expand and enhance its activities, markets and reach. This expansion was clearly noticeable in the listings and quotations business which saw a total of 27 debt securities, amounting to N233.98 billion, listed and quoted on the OTC exchange, and in the number of FMDQ’s members which grew from 75, as at December 31, 2015, to 157, as at December 31, 2016,” she said.

Alade retired as chairman of the FMDQ, following her retirement from Central Bank of Nigeria (CBN) which she represented on the board and she will be replaced by Mr. Joseph Nnanna, CBN, deputy governor. She lauded the shareholders of the company for according her the pleasure of serving them and her fellow board members , the staff and management of FMDQ.

Wema Bank Plc, on Tuesday in Lagos, launched a revolutionary app that will automatically transform its entire banking activities into a full digital bank that will meet the needs of tech savvy customers and the millennials.

The digital app known as ALAT, is targeted at raising the bank customer base from its current 1.75 million to 3 million, and it is expected to raise its revenue base to $200 million by 2020.

The launch of the app coincided with the bank’s 72nd anniversary.

Managing Director of Wema Bank, Mr. Segun Oloketuyi, said: “Wema Bank is happy to power ALAT as the first Digital Bank in Nigeria, adding that the bank is committed to satisfying its present and prospective customers by offering them an optimal banking experience through innovative digital technology.”

“ALAT is the bank for the future and it redefines the seamless relationship we have with our customers. This is an offering to the young professionals, entrepreneurs and students who are tech savvy and always on the move. It is an opportunity to integrate banking into their

lifestyle without hassles, by offering them real value, as they desire,” he said.

ALAT will be accessed via app and web, which is targeting all existing and prospective customers who are tech-savvy and upwardly mobile and it is an app-only, no-physical-contact bank.

ALAT offers customers many benefits that includes a generous interest on their savings account, seamless and fully automated processes, and dedicated 24/7 support channels, while using mobile devices. This initiative accentuates Wema Bank as an innovative market leader that listens to its customers and meets their lifestyle and technology needs, Oloketuyi said.

According to him, the app, which puts the entire Wema Bank activities in the hands of customers, offers the customers the opportunity to control the debit card by restricting its use within certain states and countries, in order to checkmate the activities of hackers who may have access to the card and clone it for fraudulent use.

The customer can also restrict the card to certain electronic channels like Automated Teller Machine (ATM), and Point of Sales (PoS) machine to check

unauthorised use of the card.

The app offers frequent updates to the customer and allows the customer to carry out any form of banking transaction online, without visiting the physical branches of the bank.

According Oloketuyi, ALAT is the solution to the present lifestyle of the customer especially the digital natives who are upwardly mobile as banking is no longer just about transactions but also greatly about lifestyle.

ALAT can be downloaded from Google Play Store.

Wema Bank’s Executive Director, Lagos Business Directorate, Folake Sanu, said with the shift to all things mobile, ALAT powered by Wema Bank, would meet today’s digital needs.

According to her, the response of most banks to the digital revolution, is the making of considerable investment in digital enterprises to maintain a competitive edge, creating gains out of technology space, with the hope that they will serve their customers seamlessly. “What we decided at Wema Bank was to create something more than a product, something that not only meets the need of our customers, but fits perfectly into their daily routine. We decided to create a lifestyle and this is why we have ALAT,” Sanu said.

25

T H I S D AY •THURSDAY, MAY 4, 2017

BUSINESSWORLD

ANALYSIS

Addressing the Menace of Counterfeiting Print and mobile phone devices have suffered a great deal from counterfeiting, often resulting in revenue losses, brand reputation damage, decline in consumer confidence and threat to employment. Yet, there appears to be no end in sight to the menace, writes Emma Okonji Counterfeiting is a big business for those that indulge in it and a big challenge to brand owners, consumers and the society at large. It does not only affect businesses and global trade through loss of revenue, reputation damage and falling consumer confidence, but it can also have a wider impact on society, damaging employment and helping to fund international and organised crime. Unfortunately, the market for counterfeit goods is thriving. At the global scene, the police all over the world including European police (Europol) have warned that the production and distribution of counterfeit goods is an increasingly attractive route for organised criminals wanting to diversify their product range. More recently, Europol launched a campaign highlighting the rising threat of counterfeit goods sold online.

It is a problem acutely felt by printer manufacturers and mobile phone manufacturers worldwide, because they are the worst hit, when it comes to counterfeiting, and governments including Nigerian government have not been able to address the situation, while trying to protect territorial trades through policy formulation and implementation.

Counterfeiting in print supplies For instance, high demand for print supplies, including ink and toner has caused a marked increase in the number of counterfeit print products appearing in the market, and the growth of online retail has only made it easier for counterfeiters to operate.

The sad truth is that some consumers, choosing to buy original ink and toner made by the manufacturer of their printer, end up as the victims of this crime, often unwittingly until problems arise.

Some are mis-sold cheaper, but legal, others as alternative products, and at worst, some are supplied as completely faked branded goods. Attractive deals and advertising, which greatly reduced prices online may save some money now, but the consumer or business usually ends up paying over the odds further down the line.

Firstly, using non-Original Equipment Manufacturer (OEM) supplies can cause performance and reliability issues. Testing done by Buyers Lab has shown that original HP ink cartridges surpass non-HP alternatives by producing on average 50 per cent more pages. The same test revealed that more than 40 per cent of non-HP ink cartridges

HP Printers

HP Printers

failed either being dead on arrival or expiring prematurely.

“Should your printer break as a result of using counterfeit printer ink or toner, you could also have issues with your manufacturer’s warranty becoming not applicable, most OEMs in print supplies said. The short-term gains simply are not worth the potential long-term problems,” they added.

Effect of fake print supplies According to Business Action to Stop Counterfeiting and Piracy (BASCAP), an arm of the European Commission, counterfeiting of print supplies, shows that it can have a wider impact on society; reaching far beyond the end user.

For example, approximately 2.5 million jobs across the G20 regions have been lost due to the growth of counterfeiting and piracy. On top of that, The Imaging Supplies Coalition estimates that counterfeiting has a global impact of $3 billion on the printing supplies industry alone, each year. Those behind the sale of counterfeit printer products often build their businesses exclusively on counterfeiting. In other cases, they mix illegitimate and original products, and sell them together at the same time, making it more difficult to spot fakes.

“These sophisticated techniques mean it’s

ATCON Calls for Effective Management in Telecoms Stories by Emma Okonji The Association of Telecoms Companies of Nigeria (ATCON) has called on the telecoms industry regulator, the Nigerian Communications Commission (NCC), to consider spectrum management and allocation as utmost priority, in order to create enabling environment for network expansion in the telecoms sector. ATCON made the call at its annual general meeting (AGM), which held in Lagos recently, where it highlighted other issues bedeviling the telecoms sector. ATCON President, Olusola Teniola, challenged the NCC to ensure more efficient allocation of spectrum resources, which, according to him, “are scarce resources to drive telecoms service delivery.”

“On this, the issue of spectrum trading comes to mind. We are awaiting NCC’s directive on the Spectrum Trading proposal, which it is currently working

on, and we believe it will revive redundant licences and help deepen access to telecoms services across the country,” Teniola said. Other issues raised at the AGM, were the inability of telecoms operators to access foreign exchange (Forex), and the difficulties experienced by operators to collocate telecoms services through infrastructure sharing. According to Teniola, the inability to access forex by the telecoms operators, would stunt telecoms growth, which has been contributing about 9 per cent to the country Gross Domestic Product (GDP).

He stated that the infrastructure already deployed by the telecoms companies, especially in the area of base stations deployment, was grossly inadequate for operators and “that is what has informed the poor infrastructure-sharing adoption, which was long initiated by the NCC.” He also noted the foreign

getting harder and harder to catch the culprits behind the sale of these illegal products,” the coalition said in a statement.

According to the coalition, “This is why printer manufacturers like HP are actively involved in anti-counterfeit measures. It not only helps channel partners and customers ensure that they are selling the correct quality and legitimate products, but also supports our society in trying to eradicate this slice of the counterfeiting industry.”

Activities of the coalition The coalition work with local law authorities across the globe to investigate and seize counterfeit products to help keep customers safe from being sold poor quality and unlawful goods. For example, in just six months last year, from May to October 2016, HP worked with law enforcement agencies across Europe, Middle East and Africa (EMEA) to seize 1.9 million counterfeit products.

“With counterfeiting of goods, especially printing products growing at an alarming rate, both businesses and consumers need to be extra vigilant about the ink and toner they are buying,” Hewlett Packard (HP) said in a statement.

How to identify print counterfeit goods In a bid to protect consumers from falling prey to print counterfeit supplies, original printer manufacturers have advised consumers to carry out scan on the box, with the support of a smartphone. The smartphone could be used to scan the QR code on an HP cartridge’s security seal, and buyer will be automatically taken to the validation screen, to ascertain if the HP printer is genuine. Aside scanning, the customer could also carry out physical check on the brand labels, since HP cartridges are supplied with both a holographic security label to validate authenticity, and a tamper-evident label with clear instructions to identify whether the product has been inferred with.

Another clever way to identify fake is to go online to validate the serial numbers from the security labels online at hp.com/go/ok.

“Customers are, however, advised to buy print products from reputable retailers.

Customers should not have any issues if they are buying printer cartridges and toner ink from established and reputable retail outlets and commercial resellers. Fake print products are a real problem, stay alert and stay ahead of the criminals, by following these simple steps to spot, report and avoid counterfeits,” OEM advised customers.

Spectrum Innovectives Begins Agency Banking with Kesh Express

direct investment (FDI) into the telecoms sector has been put on hold, since operators find it absolutely difficult to access dollar to import equipment for network expansion.

Speaking on the challenges of forex, Teniola said: “Forex is a big issue. It is even our biggest problem now. A lot of us have to even terminate certain services and put on hold certain expansion projects as a result of our inability to access forex.”

He said while ATCON has made a position paper on the challenges facing its members and how they could stifle the growth of telecoms sector, which has become an enabler of the entire economy in Nigeria, “We are also planning to get the audience of the Governor of Central Bank of Nigeria (CBN), to remove Information and Communications Technology (ICT) sector from the list of 41 items denied direct access to forex from CBN.”

Innovectives has announced plans to roll out its agency banking services in six states of the federation, with over 1000 agents through its brand identity, called Kesh Express.

The company said it would launch Kesh Express in the coming week to drive agency banking, which is another form of payment channel that will complement other channels of electronic payment system, designed to further drive cashless policy of the Central Bank of Nigeria (CBN).

Speaking at a forum in Lagos, where the process of financial transaction with agency banking was demonstrated

by Innovectives, its technical partners, RedCloud Technology and TSI Global Technologies said all the technicalities needed to achieve a successful agency banking with Kesh Express have been built into a solid platform for the rollout of Kesh Express.

The Chief Executive Officer,

TSI Global Technologies, Mr. Tunji Agbaje, described TSI as an experienced technical partner to RedCloud Technology in Nigeria, with a role to provide the technical support needed for Innovectives to drive agency banking in Nigeria through Kesh Express.

“Since we represent RedCloud in Nigeria, we provide technical support, using the RedCloud technology solution.

We are working closely with RedCloud to provide the much needed technical support that our clients may need,” Agbaje said. Speaking on the issue of interoperability and security, Agbaje said the TSI solution would address the issue of interoperability in a highly technical way.

“We already have about six banks on our platform. But any bank customer can do financial transactions with us, even when the customer’s bank is not registered with our super

agent, which is Kesh Express.

So long as the bank is connected to the Nigeria Inter Bank Settlement System (NIBSS), we can move money to the bank and from the bank because we have a solution that is highly interoperable,”he said.

He said various security layers have been built into the system that address the issue of online security.

According to him, aside the security layers, Kesh Express would only register agents on its platform that already have an established business and such agent is already known in the community, to avoid using agents who had no prior business and could be tempted to abscond with depositors money.

The Chief Technical Officer, Innovectives, Kevwe Ogomigo, who gave full details of the operations of agency banking, said it operates ‘cash in’ and ‘cash out’ financial transactions.

26

T H I S D AY •THURSDAY MAY 4, 2017

BUSINESSWORLD

E-BUSINESS

Omoniyi: Broadband Will Drive Digital Revolution in Nigeria The Chief Executive Officer of VDT Communications, Mr. Biodun Omoniyi, spoke with Emma Okonji on the need for Nigerians to see broadband as an enabler of the next digital revolution. Excerpts: digital migrants are only trying to migrate to the modern day technology which they have not been used to, and it will take less speed to adapt unlike the digital natives that were born in the era of modern day technology and they were thought technology from infancy, with the available devices all around them.

VDT was awarded the Broadband Company of the Year at the Beacon of ICT awards held in Lagos recently. What does the award mean to you and your organisation?

The award means a lot for me and the staff of VDT Communications and I have to thank the organisers of Beacon of ICT awards for their true assessment of organisations’ performances.

For me, it shows that someone is monitoring the activities of various organisations operating in the technology space to know what we are doing right, and what we are not doing right and I am glad that VDT Communications has been honoured as the best among broadband service delivery companies in the country and we are indeed motivated by it to work harder in order to maintain the confidence reposed on us as an organisation with a lot of technical expertise in broadband technology solutions.

For me the award is a well-deserved recognition for VDT Communications.

How is VDT using the power of Internet of Things (IoTs) to drive connectivity among Nigerians?

The country is coming up strong with IoTs and VDT is playing strong in that direction too. We give customers access to the cloud and we provide other technology solutions that will empower them to connect to several devices and people, which Internet of Things is all about. Devices like home appliances need to be connected to one another, which is machine to machine connection, but we are yet to see more of such connection. It is however a gradual process and I think we are making progress in that direction. VDT is already providing the underlying infrastructure that will boost IoT connectivity and we will not stop at that level.

What is this broadband all about?

Broadband is the technology that will usher and drive faster data solutions in the country.

It refers to high-speed internet access that is always on and faster than the traditional dial-up access. Broadband involves several high-speed transmission technologies such as Digital Subscriber Line (DSL) and Cable Modem. This broadband we are talking about is what will usher in the digital revolution in Nigeria and Nigerians must watch out for it.

Aside the recognition of VDT, what is your general perception of the Beacon of ICT Award that is designed to honour technology companies and ICT experts that have done creditably well in promoting sector growth?

The award is a good initiative and I welcome the idea because events like this bring about the importance of the sector to the public. The vision is to recognise excellence and then encourage sector growth. It is planned in such a way that it brings about the best from the sector, and I see it as a positive development for rewarding those that have worked tirelessly for the growth of the sector. The idea is laudable because it encourages organisations and individuals to do more in promoting the sector. Again, it will help to enhance development in the country and to create more awareness of the available technology solutions that individuals and organisations can tap into. We need more of such awards to showcase what we are doing to promote industry growth.

Having been established in 2001 as a broadband service company, what are some of the challenges VDT encountered in deploying broadband services in the country?

We are operating in a sector that has all it takes to transform the economy of Nigeria. Since 2001 that we established VDT Communications, we have been providing connectivity services to organisations and it is just right for us to transit to broadband connectivity that is currently driving the globe. So we provide broadband bandwidth that helps organisations to facilitate the movement of data. Yes there are some challenges in offering the broadband services but as technology company, we have to find ways to address the challenges.

As broadband service provider, what is your take on the low broadband penetration in the country, which is currently less than 30 per cent penetration?

Broadband penetration could be said to be slow but its penetration is not too low as it is being painted by people. The federal government, through the National Broadband Plan, set 30 per cent broadband penetration target for the country by 2018, up from its 10 per cent penetration level in 2012. As of today, there is a remarkable improvement on broadband penetration and I have no doubt that come 2018, Nigeria will

Omoniyi

surpass the 30 per cent penetration target. From the current statistics, mobile devices are fast driving mobile broadband penetration, which currently has over 97 per cent penetration level.

Telecommunications revolution was popularised by mobile and the same mobile is fast driving mobile broadband penetration in the country.

Today people are connected to the internet via smartphones and the mobile connectivity is enhancing business growth of organisations and lifestyles of people.

Nigerians are looking forward to a time when there will be ubiquitous broadband access.

How soon will this be?

We do not have ubiquitous broadband access for now, but we have something close to that because we have the broadband capacities at the shores of the country, that were deployed through submarine cables from Europe to Nigeria by broadband cable companies like MainOne, Glo 1, MTN WACS, SAT 3, among others. These broadband capacities from the broadband cable operators are enough to provide ubiquitous broadband access to Nigerians, but the challenge is that large chunk of the capacities are lying at the shores of the country because there is no national backbone infrastructure that will transmit the broadband capacities to the hinterlands where they are most needed.

The smartphone devices are everywhere in the country and people are connecting to the internet, but data is still expensive, even though it is getting cheaper. So we need more broadband capacities to speed up ubiquitous broadband access in the country. Even the aged people use smartphones to communicate, aside the youths that are more tech savvy that use smartphone to connect to the internet. With it, they are connected to social media like Facebook, WhatsApp, Instagram and others. For me, I think we are making significant progress in mobile broadband connectivity through the use of smartphones.

So much have been said about the digital natives who are the millennials that are in a hurry to use broadband while on the go, but they are constrained by poor broadband infrastructure, what is the way out?

We do not have full broadband infrastructure in the country that will drive broadband connectivity, but with the limited infrastructure, we are still making progress. VDT for instance, still offers broadband services based on the available infrastructure, which I think, will improve with time. But one thing people should understand is that technology has changed a whole lot of things, and we now operate virtual infrastructure like cloud infrastructure. Gone at the days when people keep large sizes of data servers in their premises all in the name of building infrastructure. Today physical infrastructure in not in vogue and a single virtual infrastructure can serve millions of people who could connect virtually to such virtual infrastructure. It is all about accessing the cloud and using the power of analytics that several operators like Microsoft, Google, Oracle, are currently providing. All these are accessible by the digital natives for easy connectivity even while on the go.

Technology appears to be evolving at a higher speed than the digital migrants could catchup with. What are the plans by technology service providers like VDT to accommodate the older generation of digital migrants?

Yes, technology evolution is creating some challenges for the digital migrants who are learning to catchup with the speed of technology, but the truth is that they will surely be accommodated at their own pace because technology is for all, irrespective of the speed at which the individual accesses it. The truth is that the older generation who are the digital migrants may be slow in adopting modern technology, but that does not mean they can not be accommodated. The aged people use smartphone to connect to the internet and do some few things, utilising the features that they are familiar with. The digital natives may run faster than the digital migrants, but the digital migrants have to be carried along, whichever way you look at it. Even in advanced countries, it plays out the same way where the younger generation who are the digital natives, learn much faster than the older generation who are the digital migrants. The reason being that the digital natives were born in the era of technology evolution and they grew up with it, but the

What is the vision of VDT Communications in the technology space?

VDT Communications is a leading provider of broadband communication services to corporate organisations in Nigeria. It has offices and operations at 102 points of presence spread across the country. From these points, VDT is capable of providing quality broadband communication services such as Digital Leased Circuit (DLC), Wireless connectivity and Corporate Internet in all the 36 states and using mainly terrestrial technology –all via national VPN/MPLS backbone.

What are some of the unique factors that could attract customers to your service offerings?

VDT Communications is ISO 9001 certified, and the first ISO 20000 internationally certified telecoms company in West and Central Africa for excellent Information Technology (IT) service management and winner of several awards including the Broadband Company of the Year”, 2015. “Bandwidth Company of the Year”, 2016, “Bulk Internet Provider 2011 and 2012” and “Wireless Backhaul Provider 2009 and 2010”.

Recently, we won the Broadband Service Provider of the Year at the Beacon of ICT Award for 2017, which held in Lagos. VDT operates one of the most advanced telecommunications networks in the country, all these are unique factors that have helped us in maintaining our customer base over the years.

How are you promoting rural broadband connectivity to address rural needs?

VDT Communications is playing a leading role in promoting rural broadband internet in Nigeria. Amidst several contenders, VDT was appointed by the Management of Tender Board (MTB) of the Universal Service Provision Fund (USPF), an initiative of Nigerian Communication Commission (NCC) as sole broadband communication company to implement the Rural Urban Broadband Initiative(RUBI) project in Asaba, Oyo, Osogbo and Ijebu Ode. The project was successfully completed and the four communities are now equipped with internet facilities and cyber cafes that has tremendously increased their internet access. Thus enabling the beneficiaries to easily access free information on career advancement, business, social activities, relationships/family bonding and entertainment among others. More importantly, this service will enable their businesses to thrive tremendously across all sectors In a learning and development benchmark survey conducted last year by Digital Jewels Limited, which involved over 100 corporate organisations, VDT Communications was named among the five best organisations in Nigeria that promotes learning and development among her staff.

T H I S D AY •THURSDAY, MAY 4, 2017

27

BUSINESSWORLD

CONSUMER

Global Rankings as Affirmation of Nigerian Banks With the ranking of five Nigerian banks, especially FirstBank, which has been named the number 1 Banking Brand in Nigeria for the sixth year in a row, Raheem Akingbolu reckons that Nigerian banks have indeed become global brands

Like all breakaway brands, First Bank, GTBank, Access Bank and Zenth Bank, have consistently formed emotional connections with the banking audience. These brands owners understand the roles the brands play in the lives of consumers and make sure their banks’ attributes match up with the target banking public. For instance, for over 100 years, promoters of First Bank, like handlers of other global brands like Coca Cola and Pepsi, think of new ways to keep the brand top-of-the brand.

Few weeks ago, First Bank of Nigeria Limited was again named as the most valuable banking brand in Nigeria in The Top 500 Banking Brands of The Banker magazine of the Financial Times and Brand Finance, London, United Kingdom for the sixth consecutive time.

In many quarters, observers see the feat as an evidence of the global status of the brand. In a country, where the mortality rate of businesses is high, First Bank has existed for over 10 decades.

In a statement issued recently by the Country Representative – Nigeria of The Banker magazine, Mr. Kunle Ogedengbe, First Bank leads four other Nigerian banks in the global ranking. With $301 million brand value, First Bank ranked 357 leads Guaranty Trust Bank ranked 395 with a brand value of $258 million, Zenith Bank ranked 414 with a brand value of $247 million, Access Bank ranked 476 with a brand value of $182 million and the United Bank for Africa with a brand value of $172 million ranked 487 in the world.

Beyond the figures, another major strength of the First Bank brand is its continued drive to lead innovative drive in the banking products, services and initiatives as well as strive to maintain the highest standards of performance expected of a global brand that we are. This was confirmed less than a year ago when the bank was officially recognised as the first financial institution in the country to achieve a transaction volume of 100 million transactions in a month by Interswitch Transnational -Africa’s leading integrated payment and transaction processing company.

Beyond the figures, another major strength of the bank is its continued drive to lead innovative drive in the banking products, services and initiatives as well as strive to maintain the highest standards of performance expected of a global brand that we are. This was confirmed less than a year ago when the bank was officially recognised as the first financial institution in the country to achieve a transaction volume of 100 million transactions in a month by Interswitch Transnational -Africa’s leading integrated payment and transaction processing company.

According to the Interswitch, this milestone feat was achieved in the month of December 2015 and represented the total transactions processed by FirstBank’s Front End Processor running on the Interswitch transaction switching platform which seamlessly links all financial institutions in Nigeria to facilitate better and quicker transactions across all platforms.

In the breakdown of the latest ranking exercise, the top ten banking brands ranking in the world are shared by four countries: China and United States of America with four each while United Kingdom and Spain have one each.

The remaining eight banks in the top ten are China Construction Bank, Chase (JP Morgan & Co of the USA), Bank of China, Bank of America, Agricultural Bank of China, Citibank (USA), HSBC (UK), and Satander (Spain) noted Macknight.

In the top 50 countries in the world, only four African countries made the list. These are South Africa (26), Nigeria (42), Egypt (46) and Morocco (47).

According to the February 2017 edition of the magazine, First Bank is however the only

Nigerian bank in the top 10 banking brands in Africa along with nine others banks from South Africa, Egypt and Morocco.

outperform others despite economic headwinds.

This is indicative of the creativeness of the FirstBank Team.

Methodology As for the methodology of the ranking, “Brand Finance employs a discounted cashflow technique to discount estimated future royalties at an appropriate rate to arrive at a net present value of a bank’s trademark and associated intellectual property - its brand value”, noted Brian Caplen, the editor of The Banker.

Caplen stressed that the process involves five steps of obtaining brand-specific financial and revenue data; modeling the market to identify market demand and the position of individual banks in the context of all other market competitors; establish the royalty rate for each bank; calculate the discounted rate specific to each bank, taking account of its size, geographical presence, reputation, gearing and brand rating; and discount future royalty stream (explicit forecast and perpetuity periods) to a net present value – the brand value.

He noted that the approach is used for two reasons: it is favoured by the tax authorities and the courts because it calculates brand values by reference to documented third-party transactions and it can be done based on publicly available financial information.

Globally, deputy editor of the magazine, Joy Macknight stated that Industrial and Commercial Bank of China is number one with a brand value of $47,832 million followed

by Well Fargo of the United States of America with a brand value of $41,618 million.

From any area one chooses to look at the award, it is a clear indication that FirstBank has continued to lead the pack and consistently

Imports of the recognition Reacting to the award, the Head of Marketing & Corporate Communications and General Manager at First Bank of Nigeria Ltd, Mrs. Folake Ani-Mumuney said the management was extremely excited to have been named the Most Valuable Bank Brand in Nigeria six consecutive times.

While appreciating the contribution of the brand’s patrons to the success story, she pointed out that amidst the economic turbulence of 2016, it was still an eventful year for the bank as it hit a number of milestones.

“In 2016, FirstBank clinched the “Best Retail Bank in Nigeria” award by The Asian Banker for the fifth consecutive time; we were recognised by Interswitch as the first financial institution in the country to achieve sustained transaction volumes of 100 million transactions twice in one year; our mobile banking platform –FirstMobile – recorded a milestone in its user numbers with the attainment of 1million active users and also reached N1.3trillion transactions mark in its short period of launch.

FirstBank also became the first financial institution in Nigeria to achieve the latest version of ISO quality standards: the Quality Management Systems certification ISO 9001:2015 from the International Standards Organisation (ISO). The certification is proof of the Bank’s demonstrated ability to consistently provide products and services that meet customer needs as well as applicable statutory and regulatory requirements,” she said.

28

T H I S D AY THURSDAY MAY 4, 2017

2016 FINANCIAL STATEMENTS INDEPENDENT AUDITOR’S REPORT

STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2016

STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2016

To the Members of First Pension Custodian Nigeria Limited

ASSETS Cash & short term funds Investment securities Loans and other receivables Property, plant and equipment

31 December 2016

31 December 2015

31 December 2016

31 December 2015

N’000

N’000

N’000

N’000

4,746.300

4,181,933

802,797

765,588

Operating income

5,549,097

4,947,521

Operating expenses

1,494,755

1,538,751

Profit before income tax

4,054,342

3,408,770

(1,224,818)

(991,981)

Profit for the year

2,829,524

2,416,789

Total comprehensive income for the year

2,829,524

2,416,789

141k

121k

87,052

5,958,086

8,756,662

1,554,339

564,321

589,899

1,249,728

1,130,266

5,883

53,727

Deferred tax asset

103,092

111,323

Other assets

128,168

160,796

10,894,906

9,558,436

-

38,543

Intangible assets

TOTAL ASSETS

Custody fee Interest and other income

Income tax expense

LIABILITIES Retirement benefit obligations

1,789,080

1,459,516

746,933

1,534,510

2,536,013

3,032,569

2,000,000

2,000,000

Retained earnings

6,358,893

4,525,867

TOTAL EQUITY

8,358,893

6,525,867

10,894,906

9,558,436

2,035,542,499

1,814,340,864

551,562,982

299,954,655

Current income tax liabilities Other liabilities TOTAL LIABILITIES

EQUITY

Earnings per share

Share capital

TOTAL LIABILITIES & EQUITY PENSION ASSETS UNDER CUSTODY NON-PENSION ASSETS UNDER CUSTODY

Opinion The accompanying summary financial statements which comprise the summary statement of financial position as at 31 December 2016, the summary statement of profit or loss and other comprehensive income for the year ended 31 December 2016 are derived from the audited financial statements of First Pension Custodian Nigeria Limited for the year ended 31 December 2016.

In our opinion, the accompanying summary financial statements derived from the audited financial statements of First Pension Custodian Nigeria Limited as at 31 December 2016 are consistent, in all material respects with those financial statements, in accordance with the International Financial Reporting Standards, Companies and Allied Matters Act, Cap C20, LFN 2004, Pension Reform Act 2014 and the Financial Reporting Council of Nigeria Act, 2011.

Summary Consolidated Financial Statements The summary financial statements do not contain all disclosures required by the International Financial Reporting Standards, Companies and Allied Matters Act CAP C20 LFN 2004, Pension Reform Act 2014 and the Financial Reporting Council of Nigeria Act, 2011 applied in the preparation of the audited financial statements of First Pension Custodian Nigeria Limited. Reading the summary financial statements and the auditor's report thereon, therefore, is not a substitute for reading the audited financial statements and the auditor's report of First Pension Custodian Nigeria Limited. The summary financial statements and those financial statements do not reflect the effects of events that occurred subsequent to the date of our report on those financial statements.

The Audited Financial Statements and Our Report Thereon We expressed an unmodified audit opinion on those financial statements in our report dated 20 March, 2017.

Directors' Responsibility for the Summary Financial Statements The Directors are responsible for preparing and presenting an appropriate summary of the audited financial statements in accordance with Section 355 of the Companies and Allied Matters Act, Cap C20, LFN 2004, Pension Reform Act 2014 and the Financial Reporting Council of Nigeria Act, 2011 and the International Financial Reporting Standards.

Auditor's Responsibility Our responsibility is to express an opinion on whether the summary financial statements are consistent in all material respects with the audited financial statements based on our procedures which were conducted in accordance with International Standards on Auditing (ISA 810 revised). “Engagement to report on Summary Financial Statements”.

Report on Other Legal and Regulatory Requirements The company complied with the sixth schedule of the Companies and Allied Matters Act CAP C20 LFN 2004.

The financial statements were approved by the Board of Directors on 22 February, 2017 and signed on its behalf by:

Umar Yahaya Chairman FRC/2013/ODN/00000003223

Kunle Jinadu Managing Director/CEO FRC/2013/ICAN/00000002122

Bunmi Aderonmu Chief Financial Officer FRC/2013/ICAN/00000001939

For: Akintola Williams Deloitte Chartered Accountants Lagos, Nigeria 20 March, 2017 Engagement Partner: Joshua Ojo, FRC/2013/ICAN/00000000849

DIRECTORS: UMAR YAHAYA (CHAIRMAN), KUNLE JINADU (MANAGING DIRECTOR/CEO), BAYO ODENIYI, IJEOMA NWOGWUGWU, PHILIP OLUFUNWA, REMI ONI

T H I S D AY THURSDAY MAY 4, 2017

29

30

T H I S D AY • THURSDAY, MAY 4, 2017

BUSINESSWORLD

CONSUMER

Andy: 50% Tariff on Tomato Paste Will Collapse the Industry Group Managing Director/CEO of Sonia Foods Industries Ltd, Nnamdi Nnodebe Andy, in this interview with Raheem Akingbolu, called ongovernment to urgently review the CBN’s foreign exchange policy that currently affects triple concentrate tomato paste importation in to stabilise the industry’s value chain. Excerpts: Can you explain the value chain involved in tomato paste processing?

The tomato value chain is a highly robust industry which involves tomato farmers, transporters, processors, packaging companies, distributors, retailers and the final consumers.

The processors get their fresh tomatoes from the farmers after harvesting, crush the fresh tomatoes and process them into triple concentrate tomato paste (HS Code - 2002, 9011.00) which is the major raw material for the tomato packaging companies. The tomato packaging companies reprocess the triple concentrate tomato paste, convert into consumable double concentrate tomato paste and pack into retailed sizes. The processors and packaging companies assist in the preservation of the tomatoes to avoid the huge wastages estimated to be about 45% of farmers’ harvest in Nigeria. The distributors and retailers assist in bringing the finished tomato products to the consumers.

It is pertinent to add that the tomato value chain will be incomplete and grossly distorted without the involvement of the packaging companies as processors do not produce for direct consumption. The tomato packaging companies play very important roles in the tomato value chain. Whereas tomato farmers produce fresh tomatoes which within a very short time get rotten and wasted due to lack of preservation, we (tomato packaging companies) pack triple concentrate tomato paste (which is raw material for us) into double concentrate, after reprocessing into hygienic, safe and affordable pack sizes preserving the tomato paste products to last for long shelf life extending up to a time duration of one full year. The packaging companies assist in tomato preservation and avoid wastages. Despite the seasonality of tomatoes where the fresh tomatoes are available only during the season for about 90 to 120 days and the associated glut, the presence of packaging companies in the tomato supply chain has immensely assisted in providing tomatoes to Nigerian consumers all year round. Tomato is a seasonal product with high prices at off season periods but packaging companies assist in stabilizing prices by providing the product at all times.

How do you differentiate between tomato paste and triple concentrate tomato paste?

The triple concentrate tomato paste (HS Code - 2002, 9011.00) is the paste made from fresh tomato that has been crushed, processed and compressed into very thick paste and packed in aseptic packaging to last for about 2 years after processing. The finished tomato paste is the product which is reprocessed from the triple concentrate tomato paste into double concentrate tomato paste that is packaged into retail packs and suitable for direct consumption.

The triple concentrate tomato paste is the major raw material for tomato packaging companies while the double concentrate tomato paste is their finished product.

We understand that the major raw material for the production of tomato paste is the triple concentrate. Is there a company that produces this in Nigeria and if there is none, why?

You are perfectly correct. The triple concentrate tomato paste (HS Code - 2002, 9011.00) is the major raw material for the production of finished tomato paste. As I speak today, there is no single company that produces this all-important raw material in Nigeria. I repeat with all emphasis and I want you to underline that there is no single company in Nigeria as at today that produces the triple concentrate tomato paste (HS Code - 2002, 9011.00) which is the major raw materials for over 10 tomato packaging companies in Nigeria that has combined investment of over 30 billion Naira in the Nigerian economy with about

additionally provide the needed extra thickness in stews and soups unavailable in fresh tomatoes.

We maintain very high world-class standard in our state-of-the-art factories with modern facilities including quality assurance laboratories for analysis of our products and packaging materials embracing strict good manufacturing practices (GMP) and hygiene compliance. The records are there, we have never been found wanting by NAFDAC and SON or any food regulatory body or agency.

This unsubstantiated claims of substandard and hazardous tomato products is a figment of imagination which cannot be divorced from business maneuvering and propaganda by one or two prospective tomato producers meant to run down the real market leaders in the tomato sector so that their business will thrive.

Tomato paste has for generations been a food necessity of every family and home in Nigeria and there is no home that tomato is not consumed.

The nutritional and health values of tomato consumption cannot be over-emphasised.

Andy

80,000 direct and indirect jobs. The implication is that this all-important raw material is not locally available in Nigeria today!

The major reason why there is no single functional tomato processing plant in Nigeria is due to the low yield of fresh tomato per hectare of land cultivated. Whereas USA, Italy, China, and Kenya respectively have yields per hectare of land of about 82MT, 58MT, 48MT and 22MT, Nigeria has a ridiculous low yield of about 5MT per hectare. The implication of this is that more land is unnecessarily cultivated to get higher fresh tomato production output thereby necessitating higher cost of production including labour, land, and other production inputs and overheads.

Another reason for this is that investment in tomato processing to produce triple concentrate tomato paste is highly capital intensive requiring a lot of planning, research and mechanization.

Dangote Farms in Kano which is the only tomato processing plant in Nigeria established over 3 years ago is as we speak unable to produce even 5% of its installed capacity after investing over 2.5 billion Naira.

However, the total capacity of Dangote is not even 8% of the total requirement of the Tomato packaging companies. As I speak, even if Dangote farms runs on its full capacity, it can’t provide more than 8% of the total requirement.

What are the likely challenges militating against the establishment of a company solely for the production of triple concentrate as regards funding and other related matters?

Apart from the issues of low yield and capital intensive nature of investment in tomato processing business that I earlier mentioned, there are many other challenges that impede establishment of companies to produce triple concentrate tomato paste. These include the high cost of doing business in Nigeria occasioned by poor infrastructure (including power, roads, water), multiple taxation, high cost of legal documentation of credit facilities, bureaucracy in obtaining title to land including Certificate of occupancy, uncertainty and inconsistency in the policy environment, growing insecurity, power supply challenges. I must not fail to mention the large-scale importation and smuggling of finished retail tomato products as well as low investment in research and development in tomato farming capable of fundamentally

increasing yield.

Nigeria has a large arable land mass of which tomato can be grown. Can the tomato species grown in Nigeria be used to produce triple concentrate sufficient enough to, service the entire tomato paste industry?

Let me answer your question by first and foremost saying that though Nigeria has large expanse of arable land for agriculture, only 12 out of the 36 states of the federation, which are mostly in the north, are reasonably good for profitable investment in tomato farming. In any case, Nigeria has actually been cultivating more land to increase production but the result has been very low yield of tomato per hectare of land cultivated. We don’t need to cultivate so much land unnecessarily using excessive energy and resources if we have the right high yield tomato species. The honest truth is that the specie of tomato currently grown in Nigeria cannot give the desired result of massively producing triple concentrate tomato paste because it is highly watery and less fleshy.

We therefore need to execute thorough scientific researches and development aimed at getting better and high yield tomato species that will increase production output of triple concentrate tomato paste in Nigeria.

Some indigenous producers of tomato paste have alleged that imported tomato pastes are not only substandard but also hazardous to the health of Nigerians? What’s your take on this?

Let me begin by emphatically stating that we are strongly against the importation and smuggling of finished tomato products in retail packs, standard or sub-standard. You know, as I earlier explained, there is a clear distinction between our raw material, triple concentrate tomato paste which come in bulk packs and the finished tomato products which come in retail packs. The triple concentrate tomato paste we import majorly come from Morning Star and Boswell of the State of California in the USA with limited quantity from Cofco and Chalkis who are the world renowned tomato producers based in China.

Apart from being ISO and NAFDAC certified, our products are of top quality standards and offer extra food value to our customers retaining the freshness of the fresh tomato and

First, there was a ban on 41 items including triple concentrate tomato paste from accessing foreign exchange by the CBN. Now the government have slammed 50% import tariff on tomato paste. What are the implications of the tariff on manufacturers?

In June 2015, the Central Bank of Nigeria (CBN) through its circulars with references TED/ FEM/FPC/GEN/01/010 and TED/FEM/FPC/ GEN/01/011 respectively dated June 23, 2015 and June 30, 2015 invalidated the allocation of foreign exchange for the importation of 41 items including triple concentrate tomato paste (HS Code - 2002, 9011.00) which is the major raw material for the tomato paste packaging companies. This new policy of CBN has adversely affected the Tomato paste packaging Industry leading to the shutdown of several companies and loss of jobs as well as forcing consumers to pay more due to lower supply.

The recent increase of import tariff on triple concentrate tomato paste will demotivate packaging companies that are planning or already pursuing backward integration. This increment couple with the imposition of additional levy of USD1500/MT will finally collapse of tomato packing industry.

Were stakeholders in the sector consulted before the new policy?

Stakeholders were not consulted before the CBN forex policy. However, the Government through the Federal Ministry of Industry, Trade and Investment later held a reactive meeting with us to design a roadmap for the tomato industry and this new policy is a far cry from the resolutions reached.

What do you think could have been done by the government instead of this tariff?

Government should protect the investments already done in tomato sector and find possible ways of increasing tomato yield which is around 6-8MT/hectare as against 50-100MT/ hectare in key global countries such as china and USA. The quality needed for processing is different from fresh. Again it is possible to achieve with right kind of interventions by both government and private sector over next five years. It will take years to change habits of farmers. While there are significant production and post-harvest losses in the entire supply chain of tomatoes still Dangote farms not able to procure the tomatoes. This is happening because in Nigeria the farmers have small holdings. While we look at gross number in post-harvest losses it is difficult to reach these small farmers. With cooperatives, contract farming etc this challenge can be minimized to a large extent.d need to be encouraged instead of being shut down through this new policy.

9 T H I S D AY •THURSDAY, MAY 4, 2017

31

BUSINESSWORLD

CONSUMER

GBfoods Partners Firm to Establish Pan-African Food Products Company Stories by Raheem Akingbolu Farmers and other players in the value chain of the Agricultural sector are in for better future as GBfoods, a leading multinational food group based in Barcelona, and Helios Investment Partners, a premier Africa-focused private investment firm, have created a joint-venture to acquire certain assets and leading brands in Africa.

Helios Investment Partners is an Africa-focused private investment firm established in 2004 and led and managed by a predominantly African team and based in London, Lagos and Nairobi. According to a statement jointly issued by the two organisations, the Chief Executive Officer of GBfoods, Ignasi Ricou, was quoted as saying that with this transaction, Africa will become the key

market for GBfoods, where Jumbo, a leading brand from the stable, has been present for more than 40 years.

The statement further indicated that the transaction which will create one of Africa’s largest FMCG groups is expected to help the company to operate in 30 African countries, including leadership positions in Nigeria and Ghana.

Under GBfoods Africa Holdco B.V., the joint venture owned

by GBfoods and Helios, is said to have acquired assets from different African companies including leading brands such as Jumbo (bouillon), Gino and Pomo (tomato paste), and Jago (milk powder and mayonnaise), as well as Bama (mayonnaise) distribution rights for Africa.

The agreement also includes three production plants in Africa, one in Ghana and two in Nigeria, and incorporates more than 600 workers from

different nationalities. This will result in a leading pan-African culinary products company with presence in over 30 African countries.

The implication of the new development, according to the CEO is that Africa will hence become the key market of the Spanish multinational as GBfoods will be able to reinforce leadership position as one of the

most influential international groups in the food industry, consolidating its commitment to Africa.

Up to day, the business in this continent contributed about 20% of the Group’s turnover.

The Spanish multinational manufactures every year more than 4,000 million Jumbo cubes for the African market. The growth of the product portfolio

and the acquisition of new assets will allow GBfoods to expand its presence in Africa, becoming a reference in the African households.

“With this acquisition we strengthen our position in Africa, being present in 30 countries, including key countries like Nigeria and Ghana, with enormous potential for growth.

We also expand our portfolio

of products with popular and well-known brands such as Gino, Pomo, Jago and Bama, introducing us to new strategic categories such as tomato, milk powder and mayonnaise. From now on we can proudly say that GBfoods has doubled the number of consumers in Africa to become part of the daily food of millions of Africans,” Ricou added.

LG Promises 70% Energy Saving with New Inverter Air Conditioner A leading brand in Consumer Electronics and Household appliances, LG Electronics, has introduced its advanced All New Gencool Airconditioner with Dual Inverter technology into the Nigerian Market. With the current demand of consumers seeking energy efficient products, the introduction of the product is aimed at helping consumers save as much as 70% on electricity consumption with an increased cooling capacity of 40% thereby reducing bills.

The product features a dual inverter compressor with 10 Year Warranty that helps users enjoy benefits of LG air conditioner for a longer period of time.

According to the promoters of the brand in the market, other unique features of the new offering, includes its variable speed compressor which is designed to save energy by 70% by constantly adjusting the compressor speed to maintain desired temperature level thereby reducing energy costs. Unlike the conventional AC’s that cannot operate at lower speed due to constant rotation, the new product is said to have a faster cooling technology which operates at higher speed with more stability, cooling air up to 40 % faster.

According to the General Manager, Air Conditioning and Energy Solutions, LG Electronics West Africa operations, Mr. Cholyong Park, the product features a 40% torque vibration reduction resulting in the quietest operation of outdoor unit.

The 15 degrees tilted skew fan minimises the surface friction of the blade when in contact with the air. He also stated that The All New Gencool Inverter Compressor constantly adjusts a compressor’s speed to maintain desired temperature levels.

“Clean, fresh air is essential for good health; LG is committed to providing advanced technologies that are energy efficient and ecofriendly. The All Newgen Cool comes with multi-protection filter that removes up to 99.99%

particles providing a safer living environment and is capable of making a big difference to air quality in the home.

“It is interesting to note that the ALL NEW GEN COOL AC can run on the 0.7 KVA Generators (Popularly referred to as “I pass my neighbor”).

This AC meets the demands of customers who want to use Air Conditioners in Nigeria with small capacity generators as well as inverter/solar; it comes fully loaded with innovative technologies for convenience and optimum performance,” Park said.

Speaking in the same vein, Managing Director of Fouani Nigeria Limited, Mr. Mohammed Fouani, said: “The new air conditioner operates at low sound levels, due to LG’s unique skew fan and dual inverter compressor which eliminates unnecessary noise and allow for smooth operation.

This product also allows homes with small capacity generators to continue to use household appliances together with the air conditioner without disruption.

“At LG, we understand that durability is just as important as strong performance; the AC comes backed by 10-year warranty on the inverter compressor.

The compressor to the Air Conditioner is the same as the engine is to the vehicle.

Parts of the compressor have been improved to allow for a longer life span. With the 10year warranty on the compressor, users can enjoy the benefits of LG air conditioner for a longer period of time. The NEW GENCOOL AC which comes with a simple and modern slim design makes easy installation and convenient cleaning with EZ sliding filter. Not forgetting the ALL NEW GENCOOL Air conditioner has a voltage Safe PCB (Power Circuit Board) upgraded to increase its ability to withstand voltage variations, thus ensuring safety against high-voltage or power surges while ultimately strengthening the air-conditioner’s overall durability,” the MD stated.

REWARD FOR HARD WORK

CEO of I-Naira.com, Mr. Hillary Nwaukor (left), receiving ‘Technology Innovator of the Year Award’, presented by the Commissioner, Stakeholders Management, Nigerian Communications Commission (NCC), Mr. Sunday, at the BoICT Awards 2017 held in Lagos...recently

‘Gionee A1’ Smartphone Enters Nigerian Market Gionee, one of the global leaders in smartphone manufacturers has launched another smartphone into the Nigerian market.

The new Gionee A1 comes with independent facial enhancement algorithm which automatically detects a user’s face.

The device was recently launched at Computer Village (Otigba), where musician and Gionee’s brand Ambassador; Seyi Shay, thrilled fans and guests to good songs that made the event memorable.

Explaining the features of the phone, Somoye Habeeb, Marketing Director, Gionee Nigeria, said it comes with 16 mega pixel front Camera that is great for a selfie and a rear camera of 13 mega pixels that can capture every great moment. To ensure an excellent selfie experience, a customised selfie flash is used to spread light onto faces more evenly and softly.

“Gionee A1, the soft lighting effect is able to enhance facial complexions, giving users a natural glow and rosiness.

Gionee’s independent facial enhancement algorithm automatically detects a user’s face and applies custom beauty settings.

“Gionee’s facial recognition system and advanced algorithms have gone into the bokeh-selfie mode, which allows users to blur backgrounds with an artistic bokeh while still allowing their faces to stand out. Users can enjoy

studio-quality depth and background bokeh effects”.

The A1 spots a 4010 mAh, providing enough power to get users through the day and beyond, even though there are video streaming, graphic-intensive gaming or GPS navigation. It provides 18W ultrafast charge and dual charging chips within the A series so that users can enjoy a faster, safer and worry-free charging experience.

The phone is able to be fully charged in 2 hours. In addition, a tailor-made charger kit in the brand’s unique colour was exclusively designed for the phone.

“Gionee’s R&D team independently developed a super power-saving system, which integrates data analytics into the device operation and enables the device to optimize performance under minimum power usage”, Habeeb added.

The seamless interplay between hardware and software allows A 1 series devices to work quickly and save power.

The A1 Plus runs on a Helio P10. Both devices are based on the up-to-date Android 7.0. Featuring 4 GB RAM and 64 GB ROM, they can handle multi-tasking, including resource-intensive apps and games, without delay or lag.

This time, Gionee embedded Waves MaxxAudio processing in the A1 series by collaborating with Waves Audio, the world-leading developer of audio DSP technologies and a recipient of a Technical

Grammy Award, coupled with A1 Plus’ stereo speaker system, delivering a more powerful and lifelike sonic experience to users.

“To us at Gionee, we stop at nothing to create impossible technologies so that people can do the things they love, thereby, making us break barriers and boundaries just to satisfy our

consumers”, he said.

Established in September 2002, Gionee Communication Equipment Co. Ltd. is devoted to developing innovative cellular mobile devices for users who value global connections.

The company is one of the world’s top 10 mobile manufacturers and its handsets are shipped to over 50 countries.

Mouka Listed among ‘Companies to Inspire Africa’ Mouka Nigeria Limited, Nigeria’s foremost manufacturer of mattresses and other bedding products has been recognised

by London Stock Exchange Group’s (LSEG) inaugural ‘Companies to Inspire Africa’ report, a landmark report that identifies the fastest-growing and most dynamic businesses across Africa.

‘Companies to Inspire Africa’ is part of LSEG broader support campaign for inspirational and dynamic companies that have shown excellent growth rate and potential to power Africa’s development.

To be included in this report, companies needed to demonstrate an impressive growth rate and capacity to drive African economies , which was why Mouka has been selected.

During the LSEG’s regional event, which took place on April 27, 2017; the Managing Director, Mouka limited, Mr.

Raymond Murphy expressed his delight at the listing, saying: “Mouka’s inclusion in the inaugural Companies to Inspire Africa report is in recognition of Mouka’s unfailing commitment and passion to manufacturing high quality mattresses and pillows that adds comfort to life for every Nigerian.

Murphy also said: “One of Mouka’s policies is to consistently build 1st class relationships with suppliers and distributors and effectively engage Nigerian consumers.

This has consequently resulted in exceptional growth in revenue and profitability, employment opportunities and increase in market share.”

Having been recognised as one of the companies to inspire Africa, the Managing Director said there is no looking back in the efforts of Mouka to continue to exponentially grow within Africa.

32

T H I S D AY • THURSDAY, MAY 4, 2017

BUSINESSWORLD

DEVELOPMENT

Nigeria Police on the Anti-corruption Bandwagon The Akin Fadeyi Foundation (AFF), a Civil Society Organisation held an official launch of the Not In My Country retail anti-corruption campaign at the International Conference Centre, Abuja recently, where a historic partnership was struck with the Nigeria Police to promote open governance and transparency in the country. Abimbola Akosile reports

C

orruption is generally believed to be the major blight ravaging Nigeria’s development, and President Muhammadu Buhari is setting the pace for a new Nigeria where corruption would be treated like plague.

The body language of the President therefore becomes the impetus driving public institutions in Nigeria to embrace the ongoing anti-graft war.

Today, Nigeria’s story is gradually changing, thanks to PMB. There is a popular sticker at most police stations which says ‘The Police is Your Friend’, although many Nigerians doubt the sincerity of that statement.

For years in various surveys, officers of the Nigeria Police were categorised alongside those of the Nigeria Customs Service and the defunct National Electric Power Authority as the most corrupt public officials in the country; and to some people, that perception has not changed.

This reporter, who covered the Judiciary beat for more than three years at the State High Court in Ikeja, Lagos, recalls accounts of how some corrupt policemen colluded with armed robbers in supply of arms for robbery operations, and in recent times some compromised officers have been accused of complicity in kidnaps and other crimes.

However, not everything is dark and gloomy about the Police and their functions are very germane in ensuring a secured environment and a sane society. This is all the more reason why any form of partnership with the Police can only make things better, not worse, and if it is about governance, that is a step in the right direction.

Historic Partnership The official launch of the Akin Fadeyi Foundation (AFF)’s Not In My Country anti-corruption campaign, which took place at the International Conference Centre, Abuja recently, spawned a historic partnership between the Nigeria Police and the CSO aimed at driving capacity building designed to “foster a global culture of open government”. The current leadership of the Nigeria Police led by the Inspector-General of Police, Ibrahim Kpotun Idris, openly approved partnership with the AFF in promoting the Not In My Country retail anti-corruption campaign.

Within the Open Government Partnership industry, this move is seen as a commendable stride. The announcement, according to both organisations, was aimed at recreating a globally recognised Nigeria Police driven by tenets of transparency, accountability and excellent service delivery.

A release from the office of the IGP and signed by his Principal Staff Officer (PSO), ACP Ibrahim Bakori, stated: “I write to convey the approval of the Inspector-General of Police on the formal partnership with the Akin Fadeyi Foundation on its ‘Corruption: Not In My Country Project’. The Partnership will be driven by the Foundation’s expertise in Citizen Voice and Action Advocacy and the Inspector-General of Police’s commitment to the President Muhammadu Buhari-led administration’s zero tolerance for corruption.

“This grassroots anti-corruption advocacy project is a timely and unique tool geared towards creating awareness of corrupt practices and how to prevent them. Using the digital media, ‘Corruption: Not In My Country Project’ will empower citizens to demand accountability from the Police, and create awareness amongst the personnel of the Force on the need to shun corruption”.

Another Milestone For a CSO whose concern is about growing government institutions driven by accountability, transparency and citizen voice-action, the Executive Director, AFF, Mr. Akin Fadeyi saw the partnership as, “Another milestone in our quest to build an enviable, saner and development-oriented society. This partnership is germane to our desire to contribute our quota

Caught in the act!! in building a Nigeria Police endowed with the tenets of transparency, accountability and excellent service delivery consistent with global best practices”.

He expressed gratitude to the International Development Partners supporting his organisation namely: the United Nations Development Programme (UNDP), the United Nations Office on Drugs and Crime (UNODC) under the Project on Support to Anticorruption in Nigeria which is fully funded by the European Union (EU) for partnering the ‘Not In My Country’ campaign against retail and grassroots corruption.

According to the management of the Foundation, “We felt the official public event heralding our joint stride with the Police should be unique in content, issues, perspectives and people expected to grace the launch. It was a signature outing with colleagues from the Open Government Partnership industry, Nigerian Government, Diplomats, Media, Academia and Development Partners”.

It was a colourful event which paraded cream of Officers from the Louis Edet House Police Force Headquarters in Abuja, Federal Capital Territory (FCT) Police Command and some key Police formations in Abuja.

The event was a two-in-one. The first was grand premiere of a novel one-minute Police Anti-Corruption advocacy drama tagged ‘Cor-

ruption; Not In My Country’ in which Police openly admitted that “Bail is Free” and “…No To Corruption within the Force. The second segment was a capacity building symposium tagged ‘We Can Shun Corruption’, which a Police Inspector attached to the FCT Police Command described as “very robust, insightful and a crucial training in a Police career”.

Top Tips While speaking at the event, the Inspector General of Police, Ibrahim Idris urged Nigerians, particularly the youth to close rank with the Nigerian Police towards exposing corruption and misconduct in the Police.

The IG, who spoke through the Deputy Inspector-General of Police in-charge of Operations, Mr. Joshak Habila, appreciated the Akin Fadeyi-led collaboration and noted that the harm done by corruption to every segment of the Nigerian society is huge and requires combined efforts by all stakeholders to tackle it. “This launch by the Nigeria Police Force and Akin Fadeyi Foundation could not have come at a time better than now, when every hand is on deck fighting corruption in the country, in line with the President’s change mantra against corruption and whistle-blowing policy of the Federal Government of Nigeria, making the fight against corruption across the

country everybody’s responsibility”.

Matters Arising Beyond fighting corruption, issues of Police welfare and wellbeing of policing business in Nigeria came to the fore at the Abuja event; lean salary, low budgetary allocation, living in dilapidated houses and working in offices that demeans Police status were concerns raised to tackle along with demand for transparency in its operations.

In his presentation, ‘Why Corruption, Not In My Country? So, Why the Police? Fadeyi raised posers on Police welfare: “How many of us ask ourselves how much is required to fuel each Police crime patrol van that moves around for crime prevention and citizens’ protection?

“How much is the average take-home pay of a Policeman? How many of us here care about where a Policeman lays his head? How many Policemen and Officers can afford quality or basic healthcare service? How many Policemen can afford to send their children to school abroad?”, Fadeyi wondered; posers which drew a chorus of ‘Noooo’ around the event hall.

The onus is on the government and the Police authorities to help transform the Force into an efficient vehicle for the anti-corruption campaign. Then will the Police be the peoples’ friend indeed.

RANDOM THOTS Insecurity Vote The layman’s impression has always been that the security vote is a perfectly legal and properly accounted-for huge chunk of the monthly allocation a state governor or top government official gets, to be used to maintain security in their domains as the Chief Security Officers (CSOs) of their states.

However, a contrary view has emerged as regarding the security vote; and it is a view that warrants close attention.

Former governor of Anambra State, Mr. Peter Obi, has described security votes as the biggest source of waste in the country and asked that governors be made to account for them. Obi, who spoke recently at The Platform, a

Christian programme in Lagos State, described security votes as unconstitutional.

He said: “Let me tell Nigerians; there is nothing in our constitution called security votes.

Anybody who tells you that is lying. It is a terminology that was formulated over the years. What we have is contingency fund. Today it is being abused; it has become our biggest source of waste.”

Obi also explained how he spent the security vote allocation to boost the education sector in Anambra state during his tenure; an assertion which some of his past and present contemporaries

cannot emulate. Rather, there have been reports of some ex-governors converting the unaccounted-for security votes into personal nest-eggs to fall back on when out of office.

The irony is that, instead of a reduction in insecurity, the reverse is the case in some states, despite the billions allocated to security vote monthly.

As long as security vote takes precedence over contingency vote, corruption may not cease in the land. And as for the call for the recovery of the previous unaccounted-for votes, who will bell the cat?...just wondering -Abimbola Akosile

33

T H I S D AY • THURSDAY, MAY 4, 2017

BUSINESSWORLD

DEvELOpMENT/ISSUESINBOx

Putting heads together over the economy?

What Should be Nigeria’s Biggest Devt Priority?

Although geographical location influence opinions on what should be Nigeria’s development priorities, the truth is that the country must focus on some key development issues to boost her development process. Although some want food security through improved agriculture, others prefer peace and security nationwide with crime and kidnapping curbed; and while some want massive investments in youths, skills and in employment generation, yet others want a proactive united fight against corruption and overall inequality. To you, what should be Nigeria’s biggest development priority right now, to help improve the livelihoods of majority of the 170 million citizens, and why did you choose this particular priority?

Abimbola Akosile * Nigeria’s biggest development priority is focused agriculture through mass production and its durable security nationwide, while well-fed citizens’ general well-being is assured.

Crime rate will summersault, foreign exchange therefrom will improve GDP, national budget, social cum economic infrastructure, agro-allied employment, and massive investment in youth e.t.c. thereby vigorously checking persistent corruption and security challenges ravaging us variously. Food on our tables is crucial to quality life, growth and development.

- Mr. Apeji Onesi, Lagos State * Without peace, security and food, there can be no meaningful development. For example, in the North-east for the past six years, there has been no peace, no development; instead we have killing of innocent human beings, bombing of mosques, churches and destruction of properties. The rainy season has started in earnest, the fear of Fulani herdsmen and Boko Haram is still fresh with the farmers, as they didn’t harvest their produce last year. We are at the mercy of God for absolute protection.

- Mr. Dogo Stephen, Kaduna * Nigerians need to be alive for all other priorities to be effective and this starts with economic stability for even the least individual.

- Ms Nkeiruka Abanna, Lagos State * I am seriously concerned that we get it right from this point moving forward. The government’s anti-corruption policy is continuing to yield appreciable sums of money; add to it the whistle-blowing initiative as well.

Human capital development should be the focus. Meningitis just took the lives of about a thousand Nigerians; that is completely uncalled for in this day and age of advanced medicine.

The North-east humanitarian crisis is still there to resolve, so please let us focus on developing the Nigerian.

- Mr. E. Iheanyi Chukwudi, B.A.R. Apo, Abuja * Nigeria’s development priority should be sustainable growth and development of SMEIs. Creating a conducive business environment

THE FEEDBACK Top tip:

Economic stability & regulation

Second:

Agriculture & food security

Third:

Greater investment in youths

Radical tip:

Kill corruption first!

Total no of respondents:

11

Male:

9

Female:

2

Highest location:

Lagos (4)

that ensures that indigenous enterprises are supported to grow and compete favourably on the African and global markets. Today, Nigeria has two generations of innovative entrepreneurs who are stuck in lethargic mode because the enterprise scene is very unfriendly to start ups. No financial support, no infrastructure, no advisory support, business regulation laws and taxes that stifles enterprise. Supporting the sustainable growth of SMEIs would leave the responsibility of youth employment primarily to the private sector, gainfully employed youths reduces the issues of crime and social vices.

- Mr. Utibe Uko, Uyo, Akwa Ibom State * Our biggest development priority in Nigeria today is constant electricity. When light is continually available, adequate developments in other sectors of the economy are bound to blossom proportionately. The manufacturing sector, foods, health, science and technology, infrastructure, security, economy, employment, name it. All will flourish tremendously within a short time and space especially if we remain focused, steadfast, patient, patriotically honest and united. God bless Nigeria.

- Miss Apeji Patience Eneyeme, Badagry, Lagos State * There should be greater focus on youth development.

- Mr. Sumaina Kasim, Abuja * Firstly, I believe we need greater forms of regulation in the informal sector of the economy in Nigeria. The banking sector, the real sector, the telecoms sector, and the oil sector all have numerous governmental regulatory bodies guiding their actions. The informal sector of the economy is basically allowed to do what they like. Regulation is certainly needed to check the way importers and traders increase the prices of their goods, just like other sectors of the economy are regulated. Secondly, in Nigeria, preventing a crime before it happens is the most effective way to fight corruption.

Blocking leakages is still the most effective tool in fighting corruption. In fact, the current discovery of stolen cash in various places is linked to blocked leakages since it is no longer easy for banks to be easily used to launder money as in the past.

- Mr. Buga Dunj, Jos Plateau State * Agriculture should be Nigeria’s biggest development priority. If food, which is the special basic need given by God alongside clothing and shelter given to mankind is not there, then something has gone wrong. I think I may be repeating this present regime took a very wrong step in banning food import without proper homework. People are dying and we may soon have some prodigal sons joining pigs of the rich for survival. There must be food first before any other development.

- Hon. Babale Maiungwa, U/Romi, Kaduna * Every state or local governments have problems that they need to solve through the help of the Federal government to finance their projects. But the problem is that our leaders divert funds meant for development for their selfish interests. Unless we eradicate corruption in governance, Nigeria cannot move forward. All hands must be on deck to support government in fighting corruption and we will have meaningful thinking. Corruption has kept Nigeria where we are now.

- Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State * Nigeria’s biggest development priority should

be massive investment in youths, through technical education, skills acquisitions, and entrepreneurship schemes, soft loans and agricultural incentives. The youths, who will one day take over the reins of this country, can thrive without depending on scarce white-collar jobs, and the government and other stakeholders need to ensure that youths are adequately prepared for the challenges of development in a recovering economy and a global village.

This youth investment may well determine the future of this nation.

- Mr. Olumuyiwa Olorunsomo, Lagos State

Next Week: Should the National Assembly Arms be Merged?

Many analysts have always asserted that the cost of governance in Nigeria is too high and that the income structure is too top-heavy to allow effective and efficient development.

Members of both Houses of Representatives and Senate reportedly draw fair salaries but mouth-watering allowances, even in the current recession period. The belief is that Nigeria can equally do well if both national assembly arms are merged into one strong efficient unit which can work well with the Judiciary and the Executive. In your own view, should the two Houses be merged to save cost of governance in Nigeria or not? please make your response direct, short and simple, and state your full name, title, organisation, and location. Responses should be sent between today (May 4 & Monday, May 8) to abimbolayi@yahoo.com, greatbimbo@ gmail.com, AND abimbola.akosile@ thisdaylive.com. Respondents can also send a short text message to 08023117639 and/ or 08188361766 and/or 08114495306.

Collated responses will be published on Thursday, May 11

34

T H I S D AY • THURSDAY, MAY 4, 2017

BUSINESSWORLD

DEVELOPMENT

Local waste transfer process in Lagos

ABIMBOLA AKOSILE

‘W’Bank Retains Essential Role in Ensuring Sustainable Growth, Poverty Reduction’ Abimbola Akosile The Development Committee, a ministerial-level forum of the World Bank Group and the International Monetary Fund, has said the World Bank Group retains an essential role in helping ensure that growth is sustainable globally, with benefits that reach everyone and help reduce poverty and inequality.

On the issues of famine and forced displacement, the committee in a communiqué issued at the close of the institutions’ Spring Meetings in Washington, USA, cited both “efforts to mobilise and rapidly disburse support for countries, communities, and refugees” and the importance of “investing to address the root causes and drivers of

fragility and helping countries build institutional and social resilience.”

The Development Committee, in a key message from the forum, noted that even as the global economy begins to strengthen, major risks remain for developing countries and the world’s poor.

The committee, which represents 189 member countries, reiterated its support for the Bank Group’s role in tackling a wide range of challenges in the global public goods arena and its work to develop a comprehensive approach to crises.

World Bank Group President, Jim Yong Kim addressed this new approach in his opening remarks to the press at the beginning of the meetings. The Bank Group is working closely

with the UN and other global partners on a coordinated and effective response to famine in parts of East Africa and Yemen. At the same time, Kim emphasised that “we will use every tool we have, financial and advisory, to prevent famine in the future.”

On the refugee crisis, in a speech at the London School of Economics in the lead-up to the meetings, Kim noted major efforts that address urgent needs while supporting longterm development objectives.

IDA, the Bank Group’s fund for the poorest countries, has allocated $2 billion over the next three years to support low-income countries that are hosting refugees.

A complementary initiative addresses the cross-border nature of forced displacement.

As Kim explained, “For the first time, we’re also providing concessional, essentially belowmarket interest financing to any middle-income country hosting refugees through our new Global Concessional Financing Facility, starting with support to Jordan and Lebanon, who are hosting millions of Syrian refugees.”

The committee’s communiqué and the statements

by Kim stress the need to address doubts that many people feel, in developed and developing countries alike, whether they are benefiting from a more interconnected and economically integrated world. Some of this is rooted in inequality; the committee notes that “gains have not always been shared evenly within countries.”

Kim’s speech in London also highlights a “convergence of aspirations,” as technology makes it easier for people to compare their income prospects and quality of life with others around the world. He noted the risks: when people have “no opportunity to achieve those aspirations, frustration may very well lead to fragility, conflict, violence, extremism, and eventually migration.”

To meet the ambitions embodied by the world’s Sustainable Development Goals - as well as growing aspirations -, he and the committee have emphasised a major shift in thinking about development finance: the need to mobilise funding on a much larger scale, with a stepped-up role for investments from the private sector.

For many projects crucial

to development, even in the poorest countries, the Bank Group sees untapped potential for private investment, on commercial terms. As the committee puts it, development partners can “prioritise private sector solutions when deploying scarce public resources, including for infrastructure.” The Bank Group can help by reducing risk, both real and perceived, for investors, while also helping ensure that projects really work for poor countries and poor people.

As Kim states in his speech, there “has never been a better time to find those win-win solutions. The trillions of dollars sitting on the sidelines, earning little interest, and the investors looking for better opportunities should be mobilised to help us meet the exploding aspirations of people all over the world.”

CPJ Celebrates Nigerian Workers, Urges NLC to Provide Leadership for Civil Society Creates awareness on malaria prevention Abimbola Akosile and Blessing Abah The Catalysts for Peace and Social Justice (CPJ), a faith-based organisation, has joined millions of Nigerians to felicitate with the leadership of the Nigeria Labour Congress (NLC) as it celebrated the Nigerian working classes in commemoration of the International Workers’ Day 2017, which holds on May 1 annually.

The organisation in a release issued by its Executive Director, Mr. Henry Onifade, sympathised with Nigerian workers for their courage and perseverance “as they have been the worst victims of the

pervasive corruption, visionless leadership, lawlessness and impunity which successive leaders, elected at all levels, have visited on the country in the last 18 years of democratic government.”

“We empathise with Nigerian workers as they suffer the excruciating impact of a wicked political, business, traditional and religious elite, too self-absorbed with personal and group interests that they care not for righteousness, nor justice, nor love.

“We call on the NLC leadership to unite its leadership cadre in order to organise its members to come together in the coming battles for good governance and a better

country; and to raise its voice against the lethargy, injustice, vindictiveness, nepotism, and confusion that have combined to widen the cracks in the walls of the country’s unity and deepen the nation’s fault lines.”

The organisation also called on the NLC to “mobilise the workers to protest against the poor management of the economy, particularly the failure of this administration to stabilise the Naira, and bring down inflation to single digit.”

The Congress was also enjoined to “provide leadership for the civil society so there could be a concerted effort to mobilise the workers and the generality of the people to

put pressure on the leaders in revamping decadent infrastructure, creating the right environment for investment and job creation, resolving the challenge of insecurity caused by herdsmen and kidnappers, funding education to make the nation’s schools and colleges globally competitive, equipping the hospitals for improved Medicare, and implementing policies capable of lifting the generality of the people out of poverty”, the release added.

Meanwhile, the CPJ also created awareness on Malaria Prevention to mark the World Malaria Day that was marked on April 25 around the globe annually, and by the organisa-

tion at Aralile Community of Surulere, Lagos State.

Onifade said the organisation was out to assist the community, even on a global level on the need to eradicate malaria through its prevention.

“As a Non-Governmental organisation that cares for various aspects of human lives, governance, social justice and humanitarian, we are planning a major anti-malaria campaign that will spread for 12 months and work has started on it but this is just an outreach to our programme” he added.

He said, “Malaria is prevalent in Africa unlike the developed countries. What we are doing presently is to create awareness in Aralile

community and Nigeria at large to ensure our environment is clean to drive out mosquitoes.”

According to the Programme Director for CPJ, Mr. Biyi Adekoya, “Our message is that the community comes to the awareness and danger of malaria fever, the need to put measures in place to ensure control and prevent malaria.”

The Chairman, Aralile Community who was pleased at the visit of CPJ, sought the continuity of the event to help the community members in their health challenges. CPJ shared some prevention materials for mosquitoes like nets for young and old, anti-malaria drugs, and test for high blood pressure among others.

35

T H I S D AY • THURSDAY, MAY 4, 2017

BUSINESSWORLD

DEVELOPMENT QUOTE OF THE WEEK

“The approval of the power sector recovery programme by the Federal Executive Council demonstrates that the Federal Government is committed to the sustainable development of the power sector. The implementation of the programme is critical to achieving the objectives of the government’s Economic Growth and Recovery Plan” - MINISTER OF POWER, WORKS AND HOUSING, MR. BABATUNDE FASHOLA Co-operative Society Harps on Economic Empowerment, Community Devt Paul Obi in Abuja

Climate Change: JCI Takes Tree Planting Campaign to Abuja Schools Adedayo Akinwale in Abuja Baffled at the constant negative onslaught on the environment, which has now resulted in problems like climate change, deforestation, and flooding among others, the Junior Chambers International (JCI) recently took the tree planting campaign to government schools in the Federal Capital Territory (FCT).

The 2017 President, JCI, Abuja Unity, Ms. Joyce Lawrence , said the project under the ‘Go Green’ initiative has been on for four years and was meant to sensitise the pupils of LEA Primary School, Dawaki, on the importance of tree planting and also to restore the culture of tree planting.

She said aside the fact that trees serve as erosion control tool, wind-breaker, they also reduce natural disaster. “This is one of the projects that we do annually. Last year we were at the Government Secondary School, Gwoza where we partnered the Indonesian Embassy to plant over 50 trees and today we are at LEA primary school in Dawaki to also plant another 100 trees”, she added.

According to Lawrence; “We have been hearing so much about global warming and climate change. It still boils down to the fact that we have to protect our environment.

The absence of trees in the environment is worrisome because trees are like lungs; what lungs add to the human body that is what trees are to the environment.

“We want to let these children know the importance of planting a tree. We should bring back the culture of planting trees. If you cut down a tree you are denying the future generation the privileges you have that they never had,” she said.

Leader of the team, Ms. Unwana Eyo Bright said every year JCI embarks on planting of trees in primary schools, clinics or primary healthcare centres, in order to boost the economic development of trees and also to serve as shade and also in production

Tree planting helps tackle climate change of oxygen for a healthier environment for everyone.

While giving an insight on how the school was selected, Bright noted that, “we do our need analysis and we go to different environment and we check which environment needs trees more. When we did our need analysis we discovered that along this axis this primary school has no form of shade at all and has no economic trees.”

Also, the Assistant Director, field Operation, Parks and Recreation Unit of the Abuja Metropolitan Management Council (AMMC) , Mr. Charles Okpe commended JCI for taking tree planting activity to the school, describing it as a good development for the environment.

He said, “It is a laudable activity, if we go

by what is happening in the world over, the problem of climate change, deforestation, flooding all over it is because there has been an onslaught on the environment negatively.”

He revealed that the FCTA supported JCI tree planting campaign by giving them 50 different varieties of trees and 45 flowers from its nursery plant at no cost.

Headmistress of the School, Mrs. Mary Makama said while the FCTA authority is trying its best, there was need for more structures, furniture and other learning materials as the school is now overcrowded.

Twenty best pupils who did well during the training were given JCI ambassadorial tags and would be responsible for taking care of the trees while they are in school.

The Ministry of Defence Staff Agriculture Co-operative Society (MODACS) has urged its members to embrace economic empowerment and community development given the present economic recession.

The need to for its members to embrace economic empowerment came up as MODACS seeks to enhance members’ welfare and economic wellbeing.

The Society’s President, Comrade Babatunde Gbadamosi stated this at its fifth annual general meeting in Abuja recently, where he tasked members on the need to remain steadfast, focusing more on how to come out of the recession stronger.

Gbadamosi, while speaking at the event, added that “members need to imbibe economic and business activities as another source of income.”

On the achievements of the MODACS group, he observed that the co-operative society “embarked on series of activities and improved on the existing one to ensure MODACS achieve its desire objectives.”

Also speaking on the matters arising, a member of MODACS, Eddie Igbanoi said: “Co-operative business stabilise communities, they pool limited resources to achieve a critical mass.

“They enable their owners and members to generate income and jobs, and quality goods and services; and develop human and social capital, as well as economic independence,” Igbanoi stated.

He maintained that the importance of cooperative societies cannot be over-emphasised given that they “enable small holders to get stronger voice in the supply chain and foster gender equality.”

The association further tasked it members to tap into the benefits of co-operative societies as a strategy of bettering their lives and improving their livelihoods both economically and socially, which will have ripple effects on their family members and other dependants.

The MODACS President informed the gathering of the resolve of the association to expand its reach to other members serving across the 36 states of the federation.

The forum also witnessed the adoption of MODACS new rules that would guide members in the running of the affairs of the association.

Economic empowerment and community development have been identified by various analysts both locally and globally as processes that can bring rapid development to the poor citizens around the world, and there are several initiatives by the government, private sector operators and other relevant stakeholders to make life better for the people.

One of the ways through which this is usually done is by empowering groups and organisations, rather than individuals, on different initiatives like skills acquisition, community development projects, and empowerment schemes.

Through these kinds of processes, more individuals and families are reached and positively affected, especially in ways to battle the effects of economic recession like the one currently being experienced in Nigeria.

Cooperative societies and groups like MODACS have also empowered their members through soft loans and grants to start up small businesses and economic ventures, for which they pay minimal interest with enough time given for the established ventures to grow and economically empower the members and their families.

36

T H I S D AY THURSDAY, MAY 4, 2017

HEALTH & LIFESTYLE

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

Managing Autism in Nigeria With more than one million children and teenagers affected by Autism in Nigeria, Martins Ifijeh writes on the need for the government and stakeholders to come up with solutions to the growing cases of the neurological condition

A

recent statistics show that one in every seven persons in the world have one form of neurological disorder or the other, meaning about one billion persons are suffering from the condition. But despite this huge numbers, not high priority is given to tackling the scourge globally in comparison to other conditions.

Breaking down the neurological disorders, a report revealed that 326 million people are suffering from migraine, 135 million people from autism, 62 million people from cerebrovascular diseases, 50 million people from epilepsy, 24 million people from alzheimer’s disease and several millions of people suffering from other forms of neurological disorders.

Of the 135 million established cases of autism in the world, it is worrisome that more than one million children and teenagers are suffering from the condition in Nigeria, with majority of them termed imbeciles, fools and even witches, without medical and psycho-social help.

Unfortunately for autistic persons, most Nigerians choose to believe in superstitions and myths, especially on issues that ordinarily require a fix. Diagnosis and management of autism in the country has been a major casualty from this pathetic belief system of the citizens. Autism is one of the most ignored health issues in the country, even with the high number of sufferers.

Autism, according to the medical dictionary is a life-changing disorder characterised by a withdrawal from contact with people, repetitive behaviour, and fear of change in the environment. The emotional disorder affects the brain’s ability to receive and process information.

Stakeholders believed there was urgent need to raise awareness on the disorder, as well as put special facilities in place to tackle the scourge, adding that steps should be taken to harness the extra ordinary talents from specific gifted autistic persons in the country.

According to the President, Network of Autism Associates, a non- governmental organisation that focuses on raising awareness on the disorder, as well as helping sufferers, Dr. Jude Onoji, there should be increased enlightenment campaigns that would make parents, friends and right groups present cases of the disorder for diagnosis and management, rather than perceive the victims as cursed and abnormal people.

He said one of the advantages of the enlightenment campaigns was that it would help parents know on time when their children are down with the syndrome so that they can be managed on time.

“With increased awareness on the scourge, most people will know what signs to look out for in their wards, differentiate it with downs syndrome and most importantly, present them for diagnosis and treatment on time.

“It is easier to treat an autistic person of about two years of age than an autistic child of more than seven years.

When diagnosed on time, the children would have an improved health than when they are older than seven years,” he said. Adding that autistic persons, who were older than seven years could also be treated but that the level of improvement would not be as fast as that of the child who started treatment at below two years.

According to him, in addition to awareness campaigns, stigmatisation has also hampered the success that should be recorded in reducing the scourge in the country.

“Because of this, many sufferers think of it as a genetic mark of shame on the entire family, and a major obstacle to all of their children’s chances of finding suitable spouses,” he added.

This, he said was also a reason why awareness

Autism can be managed

campaigns should be on so that the society would rather embrace autistic persons and help them, rather than despise and neglect them, thereby compounding their issues.

He stressed that people must understand how an autistic person thinks and acts, so that cohabiting and interacting with them would not cause them more harm. “Generally, many autistic persons are maltreated and discriminated.

People see them as cursed because of the way the symptom presents itself. Though majority of persons who discriminate against autistic persons believe all humans should have a ‘reasonable’ facial look and behavioural pattern, unlike autistic persons who are different,” he said.

Onoji, added that Nigerians should view autistic people as being just different, not that they were unreasonable, insane and abnormal persons living in a normal and sane life.

According to him, “people who have autism find it difficult to act in a way other people think is ‘normal’.

They find it difficult to talk to people, look at people and often do not like being touched by others. A person who has autism seems to be turned inwards.

They may talk only to themselves, roll themselves backwards and forwards, and laugh at their own thoughts. They do not like any type of change and may find it difficult to learn a new behaviour like using a toilet or going to school.”

He said it was important people understand this, especially the fact that they were slow learners, so that when they are being thought new things, patience and maturity would

be applied.

“Correcting a person without autism may be very easy, but for an autistic person, it may take a lot of efforts and patience before they can be accustomed to it,” he said. Adding that, there were also very gifted autistic persons who need special attention to be able to harness these gifts and become better persons to the society.

“Some autistic people are extraordinarily gifted or talented. This group of people are said to also have savant syndrome. They are often very good at just one thing in particular, like mathematics, playing the piano or remembering football scores. If we come across such persons, it is important we help them build these skills and try to bring out the best of it.

They deserve our collective love to become whoever they deserve to be in future,” he added.

Among some popular and extraordinarily talented persons known to have autism, he said, “Satoshi Tajiri, the creator of ‘Pokemon’, Donna William, the author of the bestselling ‘Nobody Nowhere’, and John Elder, a popular and renowned author, yet they are even role models to millions of people who are not autistic.”

For a public health physician, Dr. Gold Femi-Adewusi, the government has neglected autistic persons for long, adding that it was important they be given priority in the country through separate budget allocation and special centres to tackle the disorder.

According to her, this priority should mean that the cost of treatment of the disorder will be subsidised so that children of the poor can

also access the facilities. “This also means government will establish special autism schools such that even poor autistic persons can attend,” the physician explained.

She berated the government for spending on issues that have less bearing on its citizens, adding that it should rather place focus on assisting people with autism in Nigeria.

“Autistic people must be given love, identified with, listened to and given time to express themselves.

These will be more effective when government allocate special centres and schools for them because of their slow pace in taking in information. If you go to South Africa, they have over six special schools for autism alone.

But here in Nigeria, not even one has been established by the Nigerian government,” she said.

She also called on people to learn about the disorder as this would help people know how to relate with them.

“They may not like being touched or forced to learn new things.

They are slow learners, sometimes emotionless, they may respond slowly to questions, may be unable to respond to questions asked in quick succession and most times prefer being left alone,” she said.

In an interview, the World Health Organisation’s Director General, Dr. Margaret Chan, called on member countries to integrate neurological disorders like autism into the Primary Healthcare system in their countries since for many people, it was the only access to medical treatment that they have and doctors can use low-technology interventions as well as community-based rehabilitation as an option.

37

T H I S D AY THURSDAY, MAY 4, 2017

NEWS

‘Nigeria Needs $912m to Fight Malnutrition’ Kuni Tyessi in Abuja Nigeria needs $912 million to tackle the scourge of child malnutrition which is presently ravaging the country.

A staff of the Federal Ministry of Health, Abuja, Dr. Chris Osa Isokpunwu, disclosed this at a two-day media dialogue on ‘Leveraging Resources for Child Malnutrition in Nigeria’.

Isokpunwu, who spoke on ‘Scaling Up Nutrition in Nigeria: What Will It Cost?’, described child malnutrition as a major challenge in the country. He lamented that there are currently about 2.5 million severely malnourished children in the country.

The medical expert quoted Federal Ministry of Health figures as showing that “not less

than $912 million is required to tackle child malnutrition in the country over the next five years if the problem is not to get worse.”

Painting a graphic picture of the crisis, he pointed out that the national budget provided only N2.4 million for child nutrition in 2016, while nothing was provided in the 2015 budget and N30 million was provided in 2014 but was not released.

Isokpunwu further noted that the budget for child nutrition was created for the first time in Nigeria in 2014, describing child malnutrition as “a silent killer which has to be stopped” in view of its devastating consequences.

In her paper entitled ‘Child Nutrition Situation in South-east

and South-south Zones of Nigeria’, Ngozi Onuora, Nutrition Specialist at the Port Harcourt office of the United Nations Children’s Fund (UNICEF), lamented that every single day, Nigeria loses about 2,300 under-five-year-olds and 145 women of childbearing age as a result of malnutrition. This, she said, makes the country the second largest contributor to the under-five and maternal

mortality rate in the world.

According to Onuora, there are multiple dimensions of child malnutrition which can co-exist in individuals, households and populations, including stunting, wasting, micronutrients deficiencies, overweight and obesity.

“These are all manifestation of under-nutrition,” she said.

Statistics provided at the media dialogue by nutrition experts showed that malnutri-

tion, though a national problem, is much worse in the North.

The statistics showed that the total number of children affected by malnutrition in the South-east in 2016 was 34,889 while 6,700 deaths were recorded. In the South-south, 86,304 children were affected, out of which 16,700 died, while the South-west had 84,417 cases and 16,300 deaths; North-west 1,594,462 cases and 308,000

deaths; North-central 43,635 cases with 8,400 deaths; and North-east 695,998 cases and 134,000 deaths.

Malnutrition not only contributes to close to 50 per cent of deaths in children under five, but also results in a massive cost for the nation.

Nigeria loses over $1.5 billion in GDP annually to vitamin and mineral deficiencies, according to the World Bank.

Umoh: Only 20% of Adolescents Living with HIV Know their Status Martins Ifijeh The Programme Manager, Positive Action for Treatment Access (PATA), Mr. Francis Umoh, has noted that even though about 196,000 adolescents are living with Human Immuno Virus/ Acquired Immune Disease (HIV/AIDS) in Nigeria, only about 20 per cent knows their status.

He said it was disheartening that adolescents living with HIV were growing up with limited supports as over 80 per cent of them were still ignorant of their status. “Some of such adolescents have lost their parents and are being tossed among relatives.”

Speaking at a stakeholders’ forum on Advancing Sexual and Reproductive Health Rights of Adolescents Living with HIV in Nigeria, he said, “although the government is trying all possible best to put together better health facilities for treatment and also providing drugs in alliance with international partners, other stakeholders, the

society and individuals need to support the cause.

He also condemned educational institutions for conducting pre-admission HIV tests, adding that this means promoting stigmatisation and discrimination.

“We are saying that educational institutions should put a stop to pre-admission HIV test. Whether one is positive or negative should not stop admission for higher learning.

What will be the advantage if the institution should know the status of its students?”

A Member, Board of Directors, PATA, Mrs. Iwalola Akin-Jimoh who also doubles as the Chairman of the event, stressed that old age kills not HIV. She said with the right drugs and care PLWHA can lead a normal life.

Appreciating Ford Foundation for supporting the success of the event, Iwalola added that knowing one’s HIV status to be positive was not a death warrant, rather such persons should embark on routine medical treatment.

Nigerian Surgeons from U.S. Give Back to Patients in Lagos Rebecca Ejifoma Twenty surgeons and medical experts of the Association of Nigerian Physicians in the Americas (ANPA) in partnership with First Consultant Hospital, Lagos, have operated on 37 patients free of charge with adequate specialised care.

The team, which included surgical and medical personnel, had experts like ANPA President, Dr. Johnson Adeyanju; Chairman of ANPA Medical Mission Committee, Dr. Cliff Eke; Chairman ANPA Programme Committee, Dr. Ajovi Scott Emakpour; Dr. Nkem Ezeamama; Dr. Olatokunbo Etomi, Charlotte New York (volunteer); Dr. Ibukun Odeyemi (Consultant Surgeon General Hospital, Lagos); Dr. Barbara Onyia (Chair Houston Chapter); among others.

The operations, which were done in First Consultant Hos-

pital along with local surgeons and Dr. Osuoji from the Lagos State University Teaching Hospital (LASUTH) were successful, with a total of 400 patients attended to, while 37 operations were carried out.

“We are on a medical mission to Nigeria technically for five days. It runs from 21st to 25th April in collaboration with First Consultant Hospital. Also, we are going to create awareness and attend to some cases at Freedom Park while some of our team members will render specialised care at Abuja before we will meet with stakeholders in Nigeria healthcare,” ANPA President, Adeyanju said.

Adeyanju described the experts as a dedicated team of professional doctors that came to perform this medical mission in collaboration with the surgical team. “Our surgical team saw some cases we are very proud of,” he said.

Dexa Medica team administering free medical services to residents of Kano ...recently

Create a National Plan against Rape of Babies, NGOs Tell Govts Rebecca Ejifoma With the increase in rape of babies and adolescents in Alimosho and Kosofe Local Government Areas of Lagos State, Project Alert and Mirabel Assault Centre have called on governments at all levels to create a concrete national plan backed up with finance and retraining of police force.

“We want to close down. We need to move to other things.

Governors, communities, police, parents should put hands together and eradicate infant and adolescent sexual abuse,” the CEO, Project Alert on Violence against Women, Mrs. Josephine Effah-Chukwuma, decried.

She made the call at the media launch of the revised edition of ‘Sexual Violence in Nigeria: A Silent Epidemic’. Her statement clearly implies that if the NGO shuts down, that means there is no more sexual abuse of babies, adolescents and adults; hence, no cause for such NGO’s existence.

She noted, however, that the report of the book, which was first published in 2013, was an analysis of issues needed in updating the report. “It was an analysis of 155 cases of sexual abuse reported across the country to NGOs and the National Human Rights Commission over a period of one year. Last year (2016), we decided to revise and update it by including very important statistics gotten from

the Mirabel Centre, the first sexual assault referral centre set up by Partnership for Justice (an NGO) with support from the Justice for All Project (J4A) of the UK Department for International Development, DFID. The CEO decried that the cost of justice has made most parents of rape victims back out. Adding that in 2016, they recorded 1,110 cases in Lagos State alone. “Because the data was alarming to us, we packed and analysed the data across gender, ages, locations and forms of the abuse.

“Of the 1,110 cases last year, 98 per cent were females. Now, of 155 cases recorded from January 2017 till date, 69 were toddlers (children from zero to 17 years), while in 2013, our analysis of 155 cases revealed that 69 per cent were children between ages 0- 17; an analysis of 1,110 cases from studies have shown that these sexual offenders are looking for children not adults.”

And according to Mirabel Centre, 77 per cent were between 0-17 age group; thus an increase by eight per cent. Its findings from analysis done across local government areas in Lagos revealed that most of the cases (213 or 19 per cent) occurred in Alimosho Local Government Area. IfakoIjaiye came second with 136 (12 per cent). Third and fourth were Kosofe and Agege Local Government Areas with 11 per cent each respectively.

15m Nigerians Suffer from Asthma, Says NTS Okon Bassey in Uyo The Nigeria Thoracic society (NTS) has raised the alarm over increasing rate of people suffering from Asthma, saying over 15 million Nigerians are living with the disease in the country and 400 million worldwide.

The body noted with concern that one major gap in the asthma care in Nigeria, was the lack of national guideline on its management.

President of the society, Professor Etete Peters, disclosed this weekend during the 2017 World Asthma Day observed in Uyo, Akwa Ibom State which had as its theme: ‘Asthma-Better Air, Better Breathing’.

Peters who is also the Chief Medical Director of University of Uyo Teaching Hospital (UUTH), explained that the prevalence of asthma disease has been on the rise as a result of increasing air pollution and urbanisation.

Air pollution, he said was an important trigger for asthma, adding that in Nigeria the most common source of air pollution include biomass fumes, cigarette smoke and car exhaust.

“We should wage war against cigarette smoking, provide services to help current smokers quit and prevent initiation of cigarette smoking in our population.

Owner of vehicles should use them responsibly and choose

to walk shot distances rather than drive in order to make our air cleaner for improved health and better asthma control.”

Speaking on the activities of NTS, he said NTS as an umbrella body of all professionals involved in respiratory care has over the years committed themselves to regular and continuous update of its members and health workers in general on the management of airways diseases including asthma.

According to him, the body has also been involved in community mobilisation and public education on various chest diseases emphasising the need for optimal asthma control. His words: “this year we are launching the National Asthma Guideline as part of the event to mark the World Asthma Day to ensure that practitioners adopt the minimum level of standard required in the management of the disease to see how such care could be compared to international best practices which will ultimately reduce asthma related cases in our society.

“We therefore solicit the support of government at all levels and other relevant stakeholders in the health sector to support this noble cause of providing and building capacities among healthcare givers to implement the recommendations of the guideline.”

38

T H I S D AY THURSDAY, MAY 4, 2017

HEALTH

‘Nigeria May Have the Dullest Youths in Future if We Don’t Tackle Stunting Now’ Chairman, Senate Committee on Health, Senator Lanre Tejuoso in this interview with Martins Ifijeh, speaks on the urgent need for government to tackle stunting, which is currently affecting 11 million Nigerian children. He also talked about President Muhammadu Buhari’s health, the need for increase in health budget, among others. Excerpts What are your thoughts on the high level of malnutrition in Nigeria?

Nigeria is contributing 14 per cent of the total number of malnourished children under five years to the entire world.

We are second only to India, which contributes 20 per cent.

Malnutrition in Nigeria is not just something happening today, but came to major highlight because of the establishment of the Internally Displaced Persons (IDP) camps as a result of the Boko Haram devastation.Due to the nature of the camps, it was easy to know the number and percentage of malnourished children in the region.

On a larger scale, we have over 11 million stunted Nigerian children. This means these children will not be able to develop the organs in their body to the optimal level. By the time they are 30 or 40 years old, their brain and other organs won’t have developed to that level, which means they will not be able to perform effectively in relation to their age. Their contribution to the society in terms of what they can offer and achieve will be very minimal as well.

How will being stunted make children unable to live their full potential as adults?

This means the children would lack the necessary nutrients for proper development in the first one thousand days of life. Day one starts the day the woman gets pregnant, then, up to when the child becomes two years old. That is the time the organs

of the body develop fully and optimally. Once this period is lost, it is irreversible.

Giving priority to the first 1,000 days is more important than the school feeding programme the government is talking about. If we concentrate more on that 1,000 days, we would have succeeded in solving a major problem. Of course school feeding programme is good because of the poverty situation in the country, but those children that are already in school would have developed their organs already or are in an irreversible stage of poor development due to malnutrition in their first 1,000 days.

The school feeding programme does not address poor brain or organ development, but will only be useful in maintaining the children, not for development. So if I have 10 naira, I will rather spend five naira on the first 1,000 days of life and then keep five kobo for school feeding.

How can the government support families for first 1,000 days of their children?

First, we have antenatal classes.

When the women are pregnant, they often go for antenatal visits. During these classes, there should be necessary support from the government for them to take care of their feeding and that of the baby inside them. When a pregnant woman eats well, it will also tell on the baby inside her. Since any mother that delivers need to continue hospital visits for at least the next one year, the

because it is focusing only on malnutrition in children, where as nothing is allocated for pregnant women, because the intervention should even start from the womb.

Tejuosho

primary health centres should design a way of continuously providing nutrition intervention to them. These women should be able to get all the goodness needed for the development of their children until they clock the first 1,000 days of life or two years old.

There should be a system that works with health facilities and midwives, such that these pregnant women and mothers, especially in rural areas, are given nutrition packs for themselves (if she is a pregnant woman) and for the babies (if she has delivered).

As a policy maker and the Chairman, Senate Committee on Health, what have you done to see that these plans become policies and are implemented?

On our part, we have drawn more attention of the government and stakeholders to nutrition. When we came in, the budget for nutrition interventions in the entire country was two million naira (about $3,273). That is the least budget in the world for nutrition intervention. Yet we have about the highest burden of malnutrition, just second to India. That amount definitely could not take care of nutrition intervention in just one ward in the country. Nigeria has about 9,572 wards.

But in this year’s budget, we have been able to argue a case for its importance. There is over one billion naira (over $3.3 million) budgeted for nutrition intervention. Although the budget is still not correct

Recently, you mentioned that money spent on nutrition for the first 1,000 days of life was never wasted. Adding that for every naira spent on the child’s early journey yields 17 naira.

Could you elaborate on this?

The reason your organisation sent you here to do this interview is because you have the capacity for it. If you were stunted, you won’t be here. The reason people contribute to their countries is because they are not stunted, which means their brains developed to its optimal capacity. But for a stunted child, by the time he or she grows into an adult age, which is when the country needs them to work in the civil service or in other types of services, such children won’t be able to to provide services because they haven’t developed to the level required.

Their age might be ideal, but their brain development will be too poor or small for such age. What this simply means is that we won’t have enough workforce for the country and of course the country will not be able to generate the income it suppose to. But for every naira you spend in making sure a child develops optimally and not stunted, when that child grows up, that investment returns back as 17 naira because he or she will be able to

contribute in that measure to him or her self, and the society as well.

We have several people your age in this country, but not all are competent enough to do the job you are doing now. For such people, their brain can’t comprehend it.

Since Nigeria has 11 million stunted children, what would this mean for the country in future?

What this means is that while other countries will be enjoying return on investment on early childhood development, Nigeria will be lagging behind because our major workforce will be persons who did not develop optimally during their early childhood yeas. We have 11 million children now that they are going to grow into adult with the brain of children. We won’t notice the damage now, but in future we will see it.

By that time when Nigerians go to America, everyone will be saying Nigerians are the dullest people, because those persons must have ended up not developing well. Now, Nigerians are glowing all over the world because we were not having stunting issues 10, 15 years ago. We hear reports they are doing well in universities in the U.S., United Kingdom because the youths and adults of now do not have stunting problems then. Their brains are NOTE: Interested readers should continue in the online edition on www.thisdaylive. com

MiralPharm Rewards Winners of Ravimal ‘End Malaria for Good’ Essay Competition Omolabake Fashogbon Ravimal Essay competition organised by MiralPharm Ltd ended successfully with three star winners emerging, while consolation prizes were given to 20 persons during its award presentation in Nnamdi Azikiwe University, Awka recently.

The first prize, a one year scholarship (N100,000) and a factory visit to India, went to Victor Aniagu of the Department of Applied Biochemistry.

The second prize, a one year scholarship (N100,000) and a laptop computer went to Asomba Chinonso of the Department of Electronics and Computer Engineering and the third prize, a one year scholarship (100,000) went to Friday Chizurum of the Faculty of Medicine.

The award ceremony which took place at Nnamdi Azikiwe University, Awka had in attendance the National President of Pharmaceutical Society of Nigeria who doubles as the

Consul- General of Pakistan to Nigeria, His Excellency (Pharm.)

Ahmed Yakasai, the National Secretary, Pharm. Gbolagade Iyiola, Deputy Vice Chancellor, Nnamdi Azikiwe University, Prof. Charles Esimone and several other dignitaries.

In his opening remarks, the Chairman of the occasion and the GMD, Krisoral Group, Chief Chris Oranu Chidume, said MiralPharm was taking a road less traveled by calling for essays, commending them for the new approach taken at uncovering executable ideas that will move the country closer to victory in the war against malaria. He called Ravimal a best in class product well positioned for treatment of malaria.

The Managing Director, MiralPharm, Mr. Onyeka Onyeibor, said that Ravimal ‘End Malaria for good’ essay was a deliberate search for ideas. Adding that, “Ending malaria is an achievable and a worthwhile pursuit – saving

1,000 lives daily,” he said.

The President, Pharmaceutical Society of Nigeria (PSN), Yakasai who presented the award to the star prize winner, commended the organisers on the war against malaria and the drive to continue to support the development of youths and education in Nigeria.

He said that National Universities Commission has approved to work with MiralPharm and Pharmaceutical Society of Nigeria at making the competition an annual national event with the aim of bringing out the best in Nigerian students.

In his remarks the Vice Chancellor, Nnamdi Azikiwe University, Prof. Joseph Ahaneku who was represented by the Deputy Vice Chancellor (Academics), Prof. Esimone appreciated the organisers for their ingenuity and interest in promoting health literacy and research among Nigerian students.

According to the Project

Coordinator, Ravimal End Malaria for Good essay competition, Mrs. Ifeyinwa Ugo-Amadi, the essays were assessed based on their ingenuity, structure, insightfulness, content and language style and creativity by Dr. Jane Ifechelobi of Department of English and Dr. Obinna Ifechelobi of Department of Clinical Pharmacy, both of NAU, Awka.

Reacting to his success at the competition, Victor Aniagu, who is now the RAVIMAL Student of The Year, said “I remain grateful to God and MiralPharm for this opportunity to receive an award today. From the turnout of events, I see that nothing in life is to be taken for granted as nothing learnt is a waste,” he said.

Boska Storms Kano with Free Medical services Major Pain killer Company, DexaMedica, makers of Boska, recently, launched its Pain Free Day initiative in France Road Bridge, Kano.

According to the Brand’s Executive Officer, Joe Christopher, the initiative was aimed at improving consumer’s health. “From qualitative findings, we observed that consumers often engage in strenuous activities directly or indirectly and rarely find the time to do a health check. As a consequence, they experience

sudden breakdown in their health systems resulting in body pains.

“The Pain Free Day programme provided the opportunity for consumers of various classes to see health experts who gave out full range of health advice and support. This included rendering advice about entire body system care: eyes, ears, nose and throat care and prescribing drugs to treat eye, ear and nose defects,” he added.

According to him, beside rendering free health services, the team leveraged on the opportunity to educate consumers on how to live stress-free while at their various duties.

“We’re committed to improving consumer’s health because health is an important part of one’s life and should be taken seriously. The high level of consumer response today shows that this sort of programme is most beneficial to our consumers,” he added.

39

T H I S D AY THURSDAY, MAY4, 2017

NEWS Medical Directors Solicit Stop Stigmatisation of People with Epilepsy, Expert Tells Private Sector Partnership Nigerians The neurologist explained should be forced on the mouth said, “epilepsy is a widely against Meningitis Martins Ifijeh Kuni Tyessi in Abuja The Guild of Medical Directors has lent its voice to the fight against Cerebro Spinal Meningitis (CSM) as it solicits a realistic collaboration of the private sector in fighting the epidemic that has claimed hundreds of lives in some states.

The Chairman, FCT Chapter of the guild, Dr. Chito Nwana, who made the call at a news conference in Abuja, said: “The health sector is the most relevant sector because if one is not healthy, the person cannot be productive. Necessary things need to be done to provide quality healthcare delivery in the country. “The private health sector can add value to the effort being made by the government; the role of the private sector in quality healthcare delivery cannot be overemphasised,’’ she said.

However, Nwana called for Public Private Partnership (PPP) to achieve efficient healthcare delivery in the country.

The chairman said, for instance, that government

should address the issues of multiple taxation.

She commended public health officials, private health sector as well as NGOs for their contributions in controlling further spread of meningitis and loss of lives in the country.

“This is the time to highlight and to bring out the importance of the private sector in battling these conditions and being part of the management and public awareness.

The Public Relation Officer of the guild, Dr. Biodun Ogungbo, advised Nigerians to be cautious about CSM and take conscious efforts by preventing the occurrence.

“Patients and the general public need to be more aware of the disease in the country and the preventive measure is keep good personal hygiene, well ventilated apartment, drink enough fluids. For those who have the symptoms of headache, fever, vomiting and so on should not go to a chemist, herbalist, pastors or ignoring it, but they should rather go to the hospital,’’ he advised.

A Consultant Neurologist, Lagos University Teaching Hospital, LUTH, Dr. Agabi Osigwe, has called on Nigerians to stop all forms of stigmatisation and discrimination of persons living with epilepsy in the country.

He said while stigmatisation is often associated with poor knowledge of the condition, the effect it has on the victim is far more difficult to overcome than the seizures that come with epilepsy.

Speaking at the official launch of the Samuel Olafemiwa Oladehin Foundation (SOOF) and the commemoration of the 10th anniversary of the death of Pa Samuel Olafemiwa Oladehin in Lagos recently, he

recognised health condition but one that is poorly understood even among people who know someone with the disorder. Lack of knowledge about the causes of epilepsy has been associated with negative attitudes and beliefs.

“The stigma of the disorder can discourage people from seeking treatment for symptoms, so as to avoid being identified with the disorder,” adding that, “this stigma is a devastating burden to people with epilepsy and their families.

The combination of poverty, limited healthcare, societal conceptualisation of epilepsy and traditional beliefs, coalesce to nurture the stigma associated with epilepsy,” he said.

that it is a chronic noncommunicable disease of the brain that affects all ages, but peaks at childhood and after age 55 years noting that it is more prevalent in males (52 per cent) than females (48 per cent).

He said myths associated with the diseases have been the major reason why most persons with the disease do not access treatment.

“Among the myths are that it is contagious, it is caused by evil spirits, people with epilepsy cannot do anything meaningful.”

But he said the disease was not contagious, as it cannot be passed from one person to another. He said nothing

of someone having a seizure, adding that this could cause injuries or even broken jaw. “It is not caused by demons. It is a brain disease and treatment is key to mitigating the effect,” he added. On his part, the Chairman, Board of Trustees, SOOF, Mr. Adetola Akinsulire, said the Foundation was established in memory of a dear sister Olayemi Omobolanle Oladehin who died five years ago from the complications of epilepsy.

Olayemi was the daughter of Pa Oladehin.

He said Pa Oladehin died at the age of 76 on March 6, 2007 with one big sore in his heart: “He never found a solution to that ailment that afflicted his beloved daughter, Olayemi.

Market Doctors Offers Free Medical Services, Mosquito Nets to Oniru Community Sunday Okobi and Ugo Aliogo As part of efforts to curb the spread of malaria in the world, as the world celebrated World Malaria Day, a philanthropic medical group known as Market Doctors Nigeria took their monthly free medical test, provision of drugs and mosquito nets to residents of Oniru community in Lagos.

Speaking at the exercise in Lagos, with the theme: ‘Maternal Health and Malaria: Priority Access for Women’ the Chief Executive Officer of the group, Dr. Yetunde Ayelalowo, said the programme tagged: ‘Adopt A-Market Project’ was aimed at commemorating the 2017 World Malaria Day, noting that the scourge of malaria is endemic in Nigeria, therefore efforts should be put in place to end it. She also stated that the group is committed at ensuring they provide healthcare access to the market people in the area, stressing that they have model clinics for the market and they intend to make sure that every market place has access to health, “this can be daily, weekly or monthly depending on the size of the people in the market.”

Ayelalowo further stated they are bringing the awareness and access to medical heath to the people, as the Market Doctors frequently visit residents, engaging them on how to end and prevent the disease.

In his remarks, the Medical Director of Mobil Producing Nigeria Limited, which sponsored the programme, Dr. Bello Aliyu, said as a company, they are offering support to the group as part of efforts to create awareness on how

the scourge can be prevented.

According to Aliyu who was represented by Dr. Babatunde Adekunle, “We are talking about ABCD of malaria control, A stands for awareness, B is bite prevention which means without mosquito bites you can’t get malaria, C is Chimoprofilaksis and for people to know the appropriate one to use and D means proper diagnosis and treatment as people need to realise that they need to be tested to know that they have malaria. You need to understand that you must have proper testing in a laboratory. Our theme for the World Malaria Day 2017 is ‘End Malaria for Good.”

He explained that without the malaria vaccine the disease cannot be prevented, expressing confidence that if people are able to prevent mosquito bite, then the disease can be curbed, therefore efforts should be geared towards preventing the bite, “and in case you have mosquito bite, then you can prompt the diagnosis and get adequate treatment or you can take Chimoprofilacksis which will help to prevent malaria even though you were bitten by mosquito.”

The Sole Administrator of Iru/Victoria Island Local Community Development Area, (LCDA), Princess Aderemi Adebowale, who also graced the event, said the state government, as part of its efforts to stem malaria, has instituted the Lagos State free malaria programme in all government health facilities, adding that beneficiaries of the programme children from birth up to 12 years old, the elderly, from 65 years and above, and pregnant women.

WAR AGAINST MALARIA

LPresident, Pharmacists Society of Nigeria, Ahmed Yakassi (left) and Representative of Publix Pharmaceuticals Nigeria Limited in the UK, Angela Rutagaza at the official launch of Publitem 80/480 malaria drug in Lagos ...recently ABIODUN AJALA

PharmAccess, IFC Support Jumia Partners Audrey Pack to LagostoStrengthenHEFAMAA Fight Maternal, Child Deaths Martins Ifijeh PharmAccess Foundation Nigeria and the International Finance Corporation (IFC) have called for effective reposition and action plan to address staffing and infrastructural challenges facing the Lagos State Health Facility Monitoring and Accreditation Agency (HEFAMAA).They said there should be outsourcing of operational functions of HEFAMAA to private entities, adoption of SafeCare as the quality improvement methodology for emplacement of providers on the scheme, and amendment of the 2006 Lagos State Health Sector Reform Law establishing HEFAMAA, as well as its guidelines and handbook.

Speaking at the two day workshop, the Special Adviser to the Lagos State Governor on Primary Healthcare, Dr Olufemi Onanuga, who was also the key note speaker, charged all participants to articulate recommendations on strengthening HEFAMAA’s capacity and pledged his unflinching support for the agency’s activities.

He said HEFAMAA was established in March 2006

by Health Sector Reform Law (HSRL) 2006, and its mandate was to regulate and improve the quality of

healthcare delivery in Lagos.

“HEFAMAA is responsible for setting minimum standards for operations of public and private health facilities in Lagos, accredit, inspect and license all health facilities according to the schedules of HSRL 2006 as well as ensure the authenticity of the credentials of health personnel working in Lagos,” he said.

The Country Director, PharmAccess Foundation Nigeria, Ms. Njide Ndili stated that ‘’the workshop is a very important step to properly align the agency and all the relevant stakeholders, and support its objectives to regulate the healthcare sector in Lagos State ahead of the flag off of the mandatory health insurance scheme. We are delighted that we can support this process,” she added.

The workshop was designed to address gaps, challenges and proffer recommendations to the state government on reposting HEFAMAA to fulfill its mandate as the regulatory agency for the health sector by registering and licensing health establishments, setting standards for quality assurance, applying penalties and sanctions as well as its emerging role of accrediting health facilities for the upcoming health insurance scheme.

Martins Ifijeh With Nigeria being the second largest contributor to underfive and maternal mortality rate in the world, just second to India, Jumia, in partnership with The Audrey Pack have put up interventions to reduce the scourge in the country.

The partnership, which is designed to support pregnant women and new mothers with relevant health information, has ensured that mothers also receive a quick and easy way to access affordable nutrition and essential personal and childcare items.

Speaking during a press briefing to launch the Breast Feeding Room for New Mothers, the Chief Executive Officer, The Audrey Pack, Lilian Odim, said the NGO has distributed millions of free prenatal materials to mothers across Nigeria as well as ante natal materials to various healthcare professionals. Adding that pregnant women and new mothers are encouraged to register in hospital to receive these materials for antenatal care and immunisation.

She said Jumia will also be kicking off the partnership

with the first ever Jumia Baby Week.

“The online Jumia Baby Week will run from May 2 to 5th and parents all over Nigeria can shop the best prices on all things babies from global brands like pampers, Huggies, Moflix, Johnson, Aptamil and more. “Jumia is also launching the Breast Feeding Room on the Audrey Pack premium. Mothers who have registered with the Audrey Pack will have free access to the Breastfeeding Room on the go,” she added.

She said with the initiative, she hopes to see that in two years, there is a positive change in maternal indices in the country. “I want to be part of that change. With the online opportunities offered by Jumia, we are also committed to supporting and promoting commerce among women affiliated with The Audrey Pack.”

Jumia Nigeria CEO, Juliet Anammah said, “Jumia is proud to be associated with The Audrey Pack and its mission of promoting maternal and child health. We stand with the implementations of the SDG in Nigeria, and we are committed to playing our part in empowering vulnerable segments of the society.

40

T H I S D AY •THURSDAY, MAY 4, 2017

BUSINESS/MONEYGUIDE

Bank of Industry Posts 44% Increase in Profit Before Tax in 2016 The Bank of Industry (BOI) posted an operating profit before tax (PBT) of N17billion in 2016, representing a 44 per cent increase over the N11.9billion that was recorded in 2015.

The Bank’s loans and advances also rose by 10 per cent to N171billion in 2016 from N156billion in 2015. Disbursements to small and medium enterprises similarly went up by 42 per cent within the same period to N8billion compared with N5.64billion in 2015. The quality of BOI’s risk assets as well improved phenomenally with a reduction in the ratio of

non-performing loans (NPL) to 3.72per cent in 2016 from 5.87 in 2015. This feat was achieved despite that the average ratio of non-performing loans in the nation’s banking industry rose sharply to 14 per cent, which is beyond the Central Bank of Nigeria’s threshold of 5per cent.

Commenting on BOI’s outstanding performance in 2016, which has been described as the best in the bank’s history despite last year’s economic head winds, the institution’s Acting Managing Director and CEO, Mr. Waheed Olagunju attributed it to strong com-

mitment to professionalism and strict adherence to global best practices by the bank’s competent, dedicated as well as passionate management team and staff.

He added that these achievements also culminated in BOI’s consistently high ratings by international and domestic rating agencies being upgraded and affirmed. While Moody’s assigned BOI Aa1 in 2016 up from Ba3 of 2015, Agusto’s rating of AA- in 2016 was higher than A+ of 2015. Also, AA+ assigned

by Fitch in 2015 was affirmed in 2016.

Nigeria’s Balance of Trade Projected to Hit $3.8bn Next Year Obinna Chima Nigeria’s Balance of trade is expected to improve from -$0.5 billion to $3.8 billion before the end of next year, the Chief Executive Officer of the Financial Derivatives Company Limited, Mr. Bismarck Rewane has said.

The balance of trade is the difference between a country’s imports and its exports for a given time period.

Rewane made the forecast in a presentation he delivered at a foreign exchange sensitisation seminar titled: “The Nigerian Foreign Exchange Market- Paving the Way towards Restoring Confidence: A Market Perspective,” that was organised by Access Bank Plc in Lagos yesterday.

He, however disclosed that Nigeria’s terms of trade in 2017 is now 15.9 as against 18.9 in 2015.

“The oil companies are still

compelled to sell their FX to the CBN. The current naira appreciation is as a result of four factors - mainly a sharp increase in our oil revenue estimated at a monthly value of $2.5 billion; a policy shift towards a discriminating crawling peg effectively depreciating invisibles from N305/$ to N360/$; a 16.9 per cent increase in the quantity supplied over first quarter 2016 to $6 billion; and the opening of a new investor/exporters window as a proxy for price discovery.”

He noted that with oil price averaging $52 per barrel and production at 1.8mbpd, revenue will be enough to meet trade finance obligations. According to Rewane, Nigeria will struggle to meet capital and infrastructure funding obligations.

Earlier, the Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe, said that recent developments in the

foreign exchange market and the attendant impact on the market and businesses at large, necessitated the forum.

“I will like to thank the Governor of the Central Bank, Mr Godwin Emefiele and his team for the bold and laudable policy directives given in recent times to jump start the Nigerian Economy and reactivate liquidity in the FX market. This not only provides hope for businesses all around Nigeria hereunto incapacitated by the constrained liquidity of the FX market; but also shows clearly road map to bringing the country back as an investment hub of the financial world.

“As a bank, our commitment to the development of the Nigerian financial market is unflinching and deeply rooted in our desire to see a liquid, structured, sustainable and well developed market .

Anchor Borrowers’ Programme: Farmers Commence Loan Repayment Nume Ekeghe The Central Bank of Nigeria (CBN) yesterday revealed that farmers that accessed loans under its Anchor Borrowers’ Programme (ABP) have commenced repayment.

Details of the loan disbursement and repayment from the central bank indicated that as at March 31, 2017, a total sum of N33.34 billion had been released through 12 participating finance institutions in respect of 146,557 farmers across 21 states cultivat-

ing over 180,018 hectres of land.

But out of the total amount of N33.34 billion released, about N15.137 billion disbursed to 73,941 Kebbi State farmers had fallen due for repayment with N7.119 billion representing 47 per cent, repaid and returned to CBN. Meanwhile, the balance of N18.203 billion of the 12 months tenured loans released to farmers in the other 20 states for two cropping (wet and dry) seasons have not fallen due for repayment. However, farmers in other benefiting states have

also commenced the repayment to the tune of N1.238 billion, which is already with the CBN. The central bank said efforts were being made by the participating state governments to ensure that all outstanding loans are repaid by the farmers as soon as they are due before commencement of the next dry season cultivation. This is to enable the CBN extend similar gestures to farmers in other states which have indicated interest in the participating in the Anchor Borrowers Programme.

Wapic Insurance Launches Products Ebere Nwoji Wapic Insurance Plc said it is championing the course of encouraging Nigerians to cultivate good savings culture with its array of SMART Products targeted at not only giving competitive interest rate to consumers also offering free life insurance cover to savers.

To this end, the company, said it had resolved to push these investment -related products into the market this time because considering that in the face of the prevailing economic recession in Nigeria, savings have become pretty difficult for the people therefore it takes reasonable incentives

that surpasses interest on bank fixed deposit to convince savers to stake their hard earned money.

The Managing Director of Wapic Life Insurance, Rantimi Ogunleye explained how savings through the company’s various smart products work stated: “So here’s how it works; you want to save towards a short term goal, you choose the plan that works for you depending on your need. An account is then created for you and you save monthly. Now for the period of your plan you have life insurance cover!”

Ogunley said the products, which are classified under Wapic Smart Investment-linked

products are designed to cater for the protection and needs of individuals, families and businesses.

Ogunleye also said the company resolved to splash the investment linked products into the market this time because it is aware that a good insurance plan is the key to achieving successful living and so has developed a variety of insurance solutions to address critical customer needs.

“We are confident that these products which offer competitive rates, more added benefits and adequately address risk concerns would ensure that the policyholder remains a step ahead,” he added.

Olagunju

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)

26,774,684.47

---- 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 • Source - CBN

MONEY MARKET INDICATORS (%) December 2016 Inter-Bank Call Rate

10.39

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

• Monetary Policy Rate - 14%

OPEC DAILY BASKET PRICE AS ATTUESDAY 2, MAY 2017

The price of OPEC basket of thirteen crudes stood at $48.97 a barrel on Tuesday , compared with $49.15 the previous day, 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)

41

T H I S D AY • thurSDAY, mAY 4, 2017

Nigeria’s top 50 stocks based on market fundamentals

28-Apr-17

27-Apr-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

159.00

160.00

-0.62%

2,709,440,677,395.00

10.95

14.52

4.40

5.03%

3.40

02 Nigerian Breweries Plc

123.01

123.22

-0.17%

975,358,700,232.88

3.58

34.32

3.11

2.93%

5.88

03 Guaranty Trust Bank Plc

26.63

26.63

0.00%

783,752,302,735.12

4.49

5.92

1.89

6.65%

1.55

727.00

725.50

0.21%

576,261,095,204.00

10.00

72.71

3.17

3.99%

18.66

05 Zenith Bank Plc

14.90

14.80

0.68%

467,807,757,411.40

4.13

3.54

0.90

12.08%

0.66

06 Stanbic IBTC Holdings Plc

26.25

25.00

5.00%

262,500,000,000.00

2.85

9.20

1.68

0.38%

1.86

07 Lafarge Africa Plc

50.92

48.50

4.99%

231,935,600,165.20

3.71

13.72

1.06

5.89%

0.93

410.00

410.00

0.00%

226,857,228,330.00 -82.02

-5.00

3.58

3.88%

0.60

09 United Bank for Africa Plc

5.82

5.61

3.74%

211,146,843,194.04

1.99

2.92

0.55

10.31%

0.47

10 Access Bank Plc

6.65

6.58

1.06%

192,371,011,346.15

13.18

0.50

0.50

8.27%

0.42

45.00

45.00

0.00%

178,671,467,025.00

0.03 1,539.00

2.50

2.89%

4.27

7.71

7.80

-1.15%

141,475,039,867.65

0.68

11.40

0.24

8.04%

0.23

340.00

340.00

0.00%

122,602,389,080.00

22.61

15.04

1.30

2.12%

5.71

31.81

32.05

-0.75%

120,346,653,712.50

0.81

39.18

1.72

0.16%

10.29

15 FBN Holdings Plc

3.17

3.50

-9.43%

113,788,078,150.64

0.21

15.28

0.21

4.73%

0.18

16 Guinness Nig Plc

60.01

60.00

0.02%

90,368,350,161.88

-3.06

-19.62

0.88

5.33%

2.29

17 Total Nigeria Plc

263.00

263.00

0.00%

89,294,243,131.00

43.58

6.03

0.31

5.32%

3.79

18 Dangote Sugar Refinery Plc

6.20

6.20

0.00%

74,400,000,000.00

1.20

5.17

0.44

8.06%

1.12

19 Oando Plc

5.78

5.80

-0.34%

69,560,097,207.32

0.29

19.91

0.15

12.98%

0.36

20 7-Up Bottling Comp. Plc

95.00

95.00

0.00%

60,856,084,485.00

-0.05

0.65

2.32%

2.74

21 International Breweries Plc

17.84

17.84

0.00%

58,769,407,155.20

0.02

791.76

2.21

1.40%

5.36

22 Forte Oil Plc.

44.90

44.90

0.00%

58,481,401,524.70

2.22

20.23

0.39

7.68%

1.35

23 Julius Berger Nig. Plc

39.86

41.95

-4.98%

52,615,200,000.00

-2.89

-13.79

0.38

3.76%

0.75

24 Flour Mills Nig. Plc

18.00

18.00

0.00%

47,236,269,366.00

-1.19

-15.09

0.11

11.11%

0.47

25 Okomu Oil Palm Plc

47.05

47.05

0.00%

44,881,465,500.00

5.15

9.14

3.12

0.21%

2.64

0.88

0.87

1.15%

34,074,477,734.00

-0.03

-30.23

0.57

0.00%

0.39

14.47

14.47

0.00%

27,794,907,679.89

3.37

4.29

0.37

6.91%

0.37

0.82

0.85

-3.53%

23,749,320,267.44

0.39

2.12

0.16

19.51%

0.13

33.00

33.00

0.00%

23,100,000,000.00

2.29

14.41

3.39

3.48%

10.12

30 National Salt Co. Nig. Plc

8.49

7.71

10.12%

22,493,731,829.22

0.91

9.31

1.23

6.48%

2.80

31 Sterling Bank Plc

0.73

0.76

-3.95%

21,017,005,231.98

0.18

4.07

0.19

12.33%

0.25

32 Wema Bank Plc

0.50

0.50

0.00%

19,287,233,040.50

0.07

7.44

0.36

0.00%

0.40

33 FCMB Group Plc

0.96

1.01

-4.95%

19,010,602,349.76

0.72

1.33

0.11

10.42%

0.11

34 Diamond Bank Plc

0.79

0.82

-3.66%

18,296,707,284.72

-0.29

-2.69

0.09

0.00%

0.08

35 Custodian And Allied Insurance Plc

3.02

3.02

0.00%

17,763,229,868.90

0.91

3.33

0.46

4.64%

0.59

36 Cadbury Nigeria Plc

9.30

9.30

0.00%

17,467,278,972.00

-0.16

-58.93

0.58

13.98%

1.58

14.09

14.20

-0.77%

16,849,899,715.92

3.51

4.01

1.17

2.13%

0.99

38 Mansard Insurance Plc

1.57

1.50

4.67%

16,485,000,000.00

0.25

6.26

0.80

3.18%

0.82

39 PZ Cussons Nigeria Plc

14.92

15.00

-0.53%

14,920,000,000.00

5.69

2.62

1.04

0.67%

0.40

40 Continental Reinsurance Plc

1.11

1.16

-4.31%

11,513,746,186.32

0.42

2.64

0.52

10.81%

0.62

41 Honeywell Flour Mill Plc

1.17

1.22

-4.10%

9,278,331,259.86

-0.40

-2.89

0.19

13.68%

0.28

42 Skye Bank Plc

0.50

0.50

0.00%

6,940,150,705.00

-2.93

-0.17

0.04

60.00%

0.07

43 Unity Bank Plc

0.58

0.58

0.00%

6,779,816,006.36

0.19

3.10

0.08

0.00%

0.08

44 Wapic Insurance Plc

0.50

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

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

46 Cement Co. Of North.Nig. Plc

4.44

4.47

-0.67%

5,579,649,281.04

0.22

20.28

0.50

2.25%

0.52

47 Nigerian Aviation Handling Company Plc

2.50

2.46

1.63%

4,060,546,875.00

0.36

6.99

0.51

8.00%

0.63

48 AIICO Insurance Plc

0.53

0.53

0.00%

3,673,008,374.40

1.48

0.36

0.14

9.43%

0.42

49 UACN Property Development Co. Limited

1.80

1.80

0.00%

3,093,749,991.00

-0.90

-2.00

0.49

38.89%

0.09

50 Fidson Healthcare Plc

1.10

1.05

4.76%

1,650,000,000.00

0.21

5.21

0.22

4.55%

0.25

04 Nestle Nigeria Plc

08 Seplat Petroleum Dev. Co. Ltd

11 Presco Plc 12 Ecobank Transnational Incorporated 13 Mobil Oil Nig Plc 14 Unilever Nigeria Plc

26 Transnational Corporation Of Nigeria Plc 27 U A C N Plc 28 Fidelity Bank Plc 29 Cap Plc

37 Glaxo Smithkline Consumer Nig. Plc

TOTAL

8,318,011,990,361.99

TOTAL MARKET CAP

8,933,784,337,233.33

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

93.11%

Table 1 Market Statistics Mkt Indicators

Open 27-Apr-1

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

25,753.00 8.91

25,758.51 8.91

0.02% 0.02%

106.83 8.32

106.83 8.32

0.00% 0.00%

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

Close 28-Apr-17

Change %

Table 3 Top 5 Gainers Stock

Open 21-Mar-1

National Salt Co. Nig. Plc Stanbic IBTC Holdings Plc Lafarge Africa Plc Fidson Healthcare Plc Mansard Insurance Plc

7.71 25.00 48.50 1.05 1.50

Close Change % 22-Mar-17 8.49 26.25 50.92 1.10 1.57

10.12% 5.00% 4.99% 4.76% 4.67%

Table 4 Top 5 Losers Stock

Open 21-Mar-1

FBN Holdings Plc Julius Berger Nig. Plc FCMB Group Plc Continental Reinsurance Plc Honeywell Flour Mill Plc

3.50 41.95 1.01 1.16 1.22

Close Change % 22-Mar-17 3.17 39.86 0.96 1.11 1.17

-9.43% -4.98% -4.95% -4.31% -4.10%

NSE Index remains flat as week closes Market pulse on the Nigerian Stock Exchange (NSE) today – Friday, April 28th, 2017 ended on a positive note as the stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Banking, Insurance and Consumer Goods (Save Oil & Gas). Also, trading activities increased in volume as 366.47m shares worth of N2.88 billion in 3,598 deals exchanged hands today. This is an increase from 371.76m shares worth of N2.81 billion in 3,627 deals which exchanged hands on Thursday. Topping in volume terms are: Access Bank Plc, Fidelity Bank Plc and Zenith Bank Plc; Access Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. Brent crude oil price today settles at US$51.73 per barrel.

The All Share Index (NSEASI) closed negative with 0.02% (+5.51) increase to close at 25,758.51 from 25,753.00 the previous trading day. Market capitalization appreciated in tandem to N8.91 trillion from N8.91 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 0.00% to 106.83 from 106.83 recorded at the end of the previous trading day, while its market capitalization stood at N8.32 trillion from N8.32 trillion of the previous trading day.

Market breath closed positive today as 21 stocks gained on the bourse while 20 stocks also declined, leaving 60 stocks unchanged. Topping the Thisday BGL 50 Index gainers’ list National Salt Co. Nig. Plc as it emerged as the day’s toast of investors with a gain of 10.12% to close at N8.49 per share. It was followed by Stanbic IBTC Holdings Plc with a gain of 5.00% to close at N26.25 per share. Others on the gainers list include: Lafarge Africa Plc, Fidson Healthcare Plc and Mansard Insurance Plc; while on the decliners’ list, FBN Holdings Plc lead with a loss of 9.43% to close at N3.17 share. It was followed by Julius Berger Nig. Plc with a loss of 4.98% to close at N39.86 per share. Others on the decliners list include: FCMB Group Plc, Continental Reinsurance Plc and Honeywell Flour Mill Plc.

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

For more details go to www.thisdaylive.com

42

T H I S D AY •THURSDAY, MAY 4, 2017

MARKET NEWS

Fidson, Oando, UBA Gain as Bulls Sustain Hold on Stock Market Goddy Egene and Nosa Alekhuogie

close at 26,116.79, while market capitalisation ended higher at N 9.03 trillion.

The bulls were in total control as 27 stocks appreciated, compared with 13 that declined. Fidson Healthcare led the gainers with 10 per cent, trailed by Oando Plc with 7.9 per cent, while United Bank for Africa Plc went up by 6.2 per cent. Unilever Nigeria Plc

and Ashaka Cement Plc also made the top price gainers for the day.

Investors have continued to take positions in most of the stocks following impressive Q1 performance. Most of the companies grew their profit significantly. For instance, UBA’s profit after tax rose by 32 per cent from N17 billion in 2017 to N22.4 billion in 2017. The group

sustained its strong profitability recording an annualised 19.4 per cent Return on Average equity (RoAE). Driven by an unprecedented 43 per cent year-on-year growth in interest income, UBA Group recorded a 38 per cent percent year-onyear growth in gross earnings to close at N101.2 billion in 2017, compared to N73.7 billion recorded in the corresponding

period of the year 2016. The Group Managing Director/CEO of the United Bank for Africa, Mr. Kennedy Uzoka, expressed satisfaction with the bank’s impressive performance 2017, despite intensifying competition and a very challenging business environment.

“Our performance in the first quarter of the year strengthens our optimism on economic and

business recovery in Nigeria and many of our markets across Africa. More importantly, this result is evidence of efficiency gains in our pricing, balance sheet management and operations,” Uzoka said.

“Driven by our balance sheet liquidity, we grew interest income by 43% to an unprecedented quarterly run-rate of N77 billion”.

DAILY STOCK MARKET REPORT

The stock market appreciated further yesterday as investors continued to react to impressive first quarter financial results of companies. The Nigerian Stock Exchange (NSE) All-Share Index, which opened the week on positive note on Tuesday, appreciated by 0.58 per cent to

T H E

N I G E R I A N

STO C K

E XC H A N G E

43

T H I S D AY • THURSDAY, MAY 4, 2017

MARKET NEWS

Caverton Grows First Quarter Profit by 65% to N355m Goddy Egene Caverton Offshore Support Group Plc, a provider of marine, aviation and logistics services to local and international oil and gas companies in Nigeria, has announce its unaudited first quarter ended March 31, 2017, showing growth in its performance indicators. Revenue rose from N4.4 billion in 2016 to N5.1 billion in 2017, while operating income excluding other income grew from N418

million to N722 million.

Profit before tax rose by 65 per cent to N355million, compared with N215 million in 2016, while earnings per share improved from three kobo to six kobo.

Commenting on the results, Chief Executive Officer of Caverton, Mr. Bode Makanjuola said that the results further highlight the continued commitment of streamlining our operations in the face of tough economic

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

conditions and reduction of activities by International and Local oil and gas companies which continue to impact the service sector of the industry.

He noted that apart from its continued focus on cost efficiency, evident from the decline in operating costs by 19 per cent in the first quarter of 2017, (compared to Q1, 2016), the company equally focused on further expanding its business model and service offering.

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 2-May-2017, unless otherwise stated.

“Our Maintenance Repair and Overhaul (MRO) facility in Lagos, when completed will herald a new age in the Nigerian aviation sector and better fortune for the company and industry at large. While the marine service sector has been impacted negatively by the reduction in patronage and services, we are actively re-strategising and positioning the company to pursue opportunities within and out of the oil and gas

sector,” he said.

According to him, the company will also continue to explore other innovative solutions in support of deep and shallow water operations in both marine and aviation business.

Caverton is one of Nigeria’s leading oil services companies providing solutions for a range of multinational companies across aviation and marine services. The group’s focus and primary business is to provide

logistics and environmental support services to oil and gas fields with broader plans to support energy operations along the West African shelf as well as other ancillary support services. Caverton has a young and growing fleet of vessels and aircrafts operating out of nine locations. The company has an impressive oil and gas client base which include Shell, Total, ExxonMobil, NNPC, Aiteo, Aje-Folawiyo, and Chevron, among others.

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 136.90 137.61 7.86% Nigeria International Debt Fund 223.46 224.45 3.88% 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 0.71 0.72 1.98% 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 17.16% 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 12.58 12.96 1.86% ARM Discovery Fund 295.66 304.57 2.95% ARM Ethical Fund 22.55 23.23 0.94% ARM Money Market Fund 1.00 1.00 15.84% 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 111.21 112.00 5.74% AXA Mansard Money Market Fund 1.00 1.00 17.31% CHAPELHILL DENHAM MANAGEMENT LTD investmentmanagement@chapelhilldenham.com Web: www.chapelhilldenham.com, Tel: +234 461 0691 Fund Name Bid Price Offer Price Yield / T-Rtn Chapelhill Denham Money Market Fund 100.00 100.00 0.00% Paramount Equity Fund 9.95 10.20 6.28% Women's Investment Fund 88.60 90.87 4.73% 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 18.05% 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 1,065.58 1,066.69 5.50% FBN Heritage Fund 115.90 116.69 3.87% FBN Money Market Fund 100.00 100.00 17.51% FBN Nigeria Eurobond (USD) Fund - Institutional $107.77 $108.58 4.75% FBN Nigeria Eurobond (USD) Fund - Retail $107.43 $108.25 5.14% FBN Nigeria Smart Beta Equity Fund 117.66 119.14 4.40% 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 1.02 1.03 9.04% Legacy Short Maturity (NGN) Fund 2.70 2.70 5.13% 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 2,268.30 2,295.64 2.69% Coral Income Fund 2,225.94 2,225.94 5.78% 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 17.47% 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 17.11% Vantage Balanced Fund 1.77 1.79 5.27% Vantage Guaranteed Income Fund 1.00 1.00 17.75%

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 3.54% Lotus Halal Fixed Income Fund 1,018.22 1,018.22 3.51% 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 10.10 10.18 4.49% Meristem Money Market Fund 10.00 10.00 16.30% 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 1.10 1.12 11.20% PACAM Fixed Income Fund 10.56 10.62 1.58% PACAM Money Market Fund 10.00 10.00 15.69% 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 114.46 115.44 12.44% 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 1.29 1.29 3.62% 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 1,889.59 1,899.35 3.17% Stanbic IBTC Bond Fund 157.07 157.07 2.02% Stanbic IBTC Ethical Fund 0.79 0.80 3.25% Stanbic IBTC Guaranteed Investment Fund 196.20 196.20 4.98% Stanbic IBTC Iman Fund 132.85 134.67 2.36% Stanbic IBTC Money Market Fund 100.00 100.00 18.09% Stanbic IBTC Nigerian Equity Fund 7,553.28 7,638.44 -0.41% UNITED CAPITAL ASSET MANAGEMENT LTD unitedcapitalplcgroup.com Web: www.unitedcapitalplcgroup.com; Tel: +234 803 306 2887 Fund Name Bid Price Offer Price Yield / T-Rtn United Capital Balanced Fund 1.16 1.18 8.88% United Capital Bond Fund 1.28 1.28 15.74% United Capital Equity Fund 0.66 0.67 0.80% United Capital Money Market Fund 1.11 1.11 11.71% 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 10.47 10.66 8.49% Zenith Ethical Fund 11.57 11.67 5.87% Zenith Income Fund 17.67 17.67 6.92%

REITS

NAV Per Share

Yield / T-Rtn

11.41 126.01

1.01% 1.65%

Bid Price

Offer Price

Yield / T-Rtn

8.09 75.05

8.19 76.44

-7.81% -0.97%

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

2.83 6.12 12.03 16.98 130.03

2.87 6.20 12.13 17.18 132.03

2.86% -12.87% 0.25% 6.42% 0.11%

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.

44

T H I S D AY THURSDAY MAY 4, 2017

T H I S D AY THURSDAY MAY 4, 2017

45

46

T H I S D AY THURSDAY MAY 4, 2017

SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC (RC NO-824838)

NOTICE OF THE FOURTH ANNUAL GENERAL MEETING OF SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC. NOTICE is hereby given that the fourth Annual General Meeting of Seplat Petroleum Development Company Plc (the ‘Company’) will be held at the Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos, Nigeria at 11:00 a.m. on Thursday, 1 June 2017 for the transaction of the following business:

NOTES: 1. PROXY: A member of the Company entitled to attend and vote at the above meeting is entitled to appoint a proxy to attend and vote in his/her/its place. A proxy need not be a member of the Company. For the appointment to be valid for the purposes of the meeting, a completed and duly stamped proxy form must be deposited at the office of the Registrar, DataMax Registrars Limited, To consider and, if thought fit, to pass the following resolutions, which will 2C Gbagada Express Way, Gbagada, Lagos or at the head office of the be proposed as ordinary resolutions: Company, marked for the attention of the “Company Secretary” or by email to proxy@seplatpetroleum.com, not less than 48 hours before the time fixed 1. To receive the annual accounts, Directors’ report, Auditor’s report for for the meeting. the year ended 31 December 2016 and the Audit Committee report.

For convenience purposes, a blank proxy form is attached to the 2016 Annual Report and Accounts, both of which are available at the Company’s website: 2. To approve the Remuneration section of the Directors’ Remuneration www.seplatpetroleum.com and at the Company’s head office: 25a Lugard Avenue, Ikoyi, Lagos.

Report set out in the Annual Report and Accounts for the year ended 31 2. CLOSURE OF REGISTER: December 20161.

The Register of Members and Transfer Books of the Company (Nigeria & UK) will be closed on Tuesday, 20 May 2017 in accordance with the provisions 3. To re-appoint Ernst & Young Nigeria as auditors of the Company from of section 89 of CAMA, to enable the Registrars to prepare for the Annual the conclusion of this meeting until the conclusion of the next general General Meeting. meeting of the Company at which the Company’s annual accounts are 3. E-DIVIDEND MANDATE: laid.

Shareholders are kindly requested to advise DataMax Registrars Limited of their updated records and relevant bank accounts, by completing the 4. To authorise the Board of Directors of the Company to determine the e-mandate form. The e-mandate form can be downloaded from DataMax auditor’s remuneration.

Registrars Limited’s website at http://www.datamaxregistrars.com. The duly completed form(s) should be returned to DataMax Registrars Limited, No, 2c 5. To re-elect those Directors of the Company who are eligible for Gbagada Expressway, Gbagada Phase 1, Lagos. retirement by rotation.

4. NOMINATION FOR AUDIT COMMITTEE: In accordance with section 359(4) & (5) of the Companies and Allied Matters Act 2004, the Audit Committee shall consist of an equal number of directors 6. To elect members of the Audit Committee. and representatives the shareholders of the Company (subject to a SEPLAT PETROLEUM DEVELOPMENT COMPANY of PLC (RC NO-824838) maximum number of six (6) members). Any shareholder may nominate a FINANCIAL HIGHLIGHTS shareholder as a member of the Audit Committee. Such nomination should NOTICE OF THE FOURTH ANNUAL GENERAL MEETING OF 12 months ended 12 months ended be in writing and should reach the Company Secretary at least twenty-one As at 31 Dec As at 31 Dec As at 31 Mar As at 31 Mar SEPLAT31-Dec-16 PETROLEUM DEVELOPMENT COMPANY PLC. 2016 2017 2017 31-Dec-15 (21) days before the Annual General Meeting. 2016 Audited Unaudited Audited Unaudited 3 months ended 3 months ended NOTES: 3 months ended 3 months ended NOTICE is hereby given that the fourth Annual General Meeting of Seplat 5. RE-ELECTION OFNote $’000 DIRECTORS:$’000 ’m ’m Audited Audited 31 Mar 2016 31 Mar 2016 31 Mar 2017 31 Mar 2017 Assets 1. PROXY: Petroleum Development Company Plc (the ‘Company’) will be held at the The following two Independent Non-Executive Directors who have stayed N’million N’million Non-current assets Unaudited Unaudited Unaudited Unaudited A member of the Company entitled to attend and vote at the above meeting Civic Centre, Ozumba Mbadiwe Road, Victoria Island, Lagos, Nigeria at Oil and gas properties 1,224,400 373,908 373,442 1,217,941 for re-election: Note $’000 $’000 ’m ’m officea will and islongest entitled toin appoint proxyretire to attend andstand vote in his/her/its place.

A proxy 11:00 a.m. on Thursday, 1 June 2017 for the transaction of the following Other property, plant and equipment 7,967 2,195 2,430 7,151 63,384 112,972 Revenue Revenue 6 83,416 14,474 16,585 47,299 need not be a member of the Company.

For the appointment to be valid Other asset 250,090 76,778 76,277 i.

Mr. Basil Omiyi; and 250,090 business: Cost ofProfit/(Loss) sales 7 (53,780) (8,624) (10,692) Prepayments 33,616 9,811 10,253 (28,184) 31,957 for the purposes of the meeting, a completed and duly stamped proxy form (47,419) 17,243 before taxation ii. assets Dr. Charles Okeahalam. 1,507,139 Total non -current 1,516,073 462,692 462,402 Gross profit 29,636 5,850 5,893 19,115 must be deposited at the office of the Registrar, DataMax Registrars Limited, Current assets To consider and, if thought fit, to pass the following resolutions, which will The profiles of these Directors are available on pages 63 and 64 respectively, 2,035 (4,252) Taxation General and administrative expenses 8 (21,449) (5,129) (4,264) 2C Gbagada Express Way, Gbagada, Lagos or at the head office of the (16,759) Inventories 106,213 31,940 32,395 104,040 be proposed as ordinary resolutions: Company, marked for the attention of the 397,092 “Company Secretary” or by email Gain/ (loss) on foreign exchange - net 9 (2,441) 529 (485) 1,730 Trade and other receivables 119,160 390,694 121,908 of the Annual Report 15 and Accounts.

(45,384) 12,991 Profit after taxation Prepayments to proxy@seplatpetroleum.com, not less than 6,672 1,249 2,035 4,070 48 hours before the time fixed Fair value loss 10 (801) (1,662) (159) (5,433) 6.equivalents RIGHT OF SECURITIES’ HOLDERS TO ASK 159,621 QUESTIONS 1. To receive (1,347) the annual accounts, Directors’(412) report, Auditor’s report for& cash Cash 47,803 48,684 155,710 for the meeting.

Operating (loss)/gain 4,945 985 144,248 20,540 Foreign currency translationthe reserve Total current assets 202,900 202,274 660,912 Inconvenience line with Rule 19.12(c) of the Listing Rules of663,200 the Nigerian Stock Exchange, year ended 31 December 2016 and the 64 Audit Committee report.

For purposes, a blank proxy form is attached to the 2016 Annual Finance income 11 2,700 537 210 Total assets 2,179,273 665,592 664,676 2,168,051 Report and Accounts, both have of which available at the Company’s website: 99,036 33,531 Securities’ Holders a are right to ask questions not only at the Meeting, but Equity and liabilities FinanceTotal costs comprehensive income 11 for the period/year (22,639) (5,257) (4,501) (17,181) 2. To approve the Remuneration the Directors’ (2,979) Remuneration www.seplatpetroleum.com and at the Company’s head office: 25a Lugard Equity Loss before taxation (14,994) section of(5,605) (18,318) also in writing prior to the Meeting.

Questions submitted prior to283the Meeting 283 Issued share capital 1,826 16 1,826 536 427 (Profit) /Loss attributable 12 toReport non-controlling interest Avenue, Ikoyi, Lagos. set out in the Annual Report and Accounts year ended 31 Taxation (7,550) (250) for the (1,501) (819) Share premium should be addressed to the Company 497,457 82,080 the head 82,080 497,457 Secretary and must reach 2. CLOSURE OF REGISTER: December(19,137) 20161.

Share based payment reserve 12,135 2,998 2,597 Loss forProfit the period (22,544) (5,855) (4,480) 16 13,447 99,572 33,958 attributable to parent The Register of Members and Transfer Books of the Company (Nigeria & UK) office of the Company no later40,000 than 7 days before the Meeting5,932 Capital contribution 40,000 the date of 5,932 Retained earnings 79,197 85,052 will be closed on Tuesday, 20 May 2017 659,785 in accordance with678,922 the provisions auditors of the Company from (N79.73) N24 Earnings/(loss) per share (being 25 May 2017).

Loss attributable to equity holders of 3. To re-appoint Ernst & Young Nigeria as Foreign currency translation reserve 3,675 202,881 200,429 3,675 parent DividendtoPer share Loss attributable non-controlling interest

Total Assets

of section 89 of CAMA, to enable the Registrars to prepare for the Annual (19,137)of this meeting (18,829)until the conclusion (5,855) (3,741) the conclusion of the next general Total equity 1,234,015 373,371 376,373 1,216,190 General Meeting.

Nil $0.08 Non-current liabilities meeting of the Company at which the Company’s annual accounts are 3. E-DIVIDEND (739) (3,715) Interest bearing loans Copies of& borrowings the MANDATE: Annual Report and 413,841 Accounts for Seplat Development 446,098 Petroleum 127,049 136,060 14 laid.

664,676 545,197 Deferred tax liabilities

Shareholders are kindly requested to advise DataMax Registrars Limited Company Plc for the financial year 12,480 ended 31 December 2016 will be mailed to3,672 12,040 3,831 of their updated records and relevant bank accounts, by completing the Provision decommissioning 500 4.(N1b To authorise the Board of Directors of the 500 Company to determine the for Authorised Share capital at N0.50k each) 597 190 182 620 the shareholders and will be available on our website: www.seplatpetroleum. e-mandate form.

The e-mandate form can be downloaded from DataMax obligation Items that may be classified to profit or auditor’s remuneration.

Defined benefit plan 5,112 1,740 1,559 5,667 loss: Registrars Limited’s website at http://www.datamaxregistrars.com.

The duly com.

Printed versions can also be obtained by contacting DataMax Registrars in 563,444,561 560,576,101 Number of N0.50k shares issued and fully paid Total non -current liabilities 463,847 132,914 141,473 432,946 Foreign currency translation difference 2,452 (530) completed form(s) should be returned to DataMax Registrars Limited, No, 2c Current liabilities Nigeria at 2C Gbagada Expressway, Gbagada, Lagos, +234 1 7120008-11; or 5. To re-elect those Directors of the Company who are eligible for Gbagada Expressway, Phase 1, 218,000 Lagos.

Interest bearing loans and borrowings Gbagada 217,998 66,926 66,489 14 in the UK on +44 298,549 (0) 370 702 0000. retirement(19,137) by rotation. (22,544) 4.

NOMINATION FOR AUDIT Trade and Computershare other payables 261,528 91,655 79,766 17 COMMITTEE: Total comprehensive loss for the period (3,403) (5,010) 338

-

104

-

Contingent consideration

Other comprehensive income/(loss):

Current taxation In

1,885Matters accordance with section 359(4) & (5) of the2,366 Companies and Allied

726

575

518,915

481,411

159,307

146,830

292,221

288,303

2,168,051

2,179,273

665,592

664,676

a. Forto2015 accounting year, (USoffour cents) per share was paid as interim 2004, the Audit Committee shall consist of an equal number of directors elect$0.04 members the Audit Committee.

Loss attributable equity holders of 6. To Total liabilities 945,258 951,861

By Act Order of the Board. parent (19,137) (18,829) (3,403) (4,271) and representatives of the shareholders of the Company (subject to a Total shareholders’ equity and Total current liabilities

dividend on 17th November 2015. An additional $0.04 (US four cents) has liabilities Loss attributable to non-controlling FINANCIAL HIGHLIGHTS interest (3,715)to shareholder (739) at the been proposed as final dividend -and subject approval 12 months ended 12 months ended AGM. Loss per share ($)/( )

13

(0.03)

(0.03)

(10.39)31-Dec-16

(6.67)31-Dec-15

Diluted loss per share ($)/( )

13

(0.03)

(0.03)

(10.33) Audited

(6.67)

Audited

N’million b. Once approved at the AGM, the ruling exchange rate ofN’million the Naira/Dollar 63,384 Revenue on the qualification date (19th May 2016) will be applied to convert the112,972 final (47,419) 17,243 Profit/(Loss) dividend amount to Naira.before taxation Taxation Profit after taxation

2,035

(4,252)

(45,384)

12,991

144,248

20,540

99,036

33,531

536

427

info@seplatpetroleum.com

Foreign currency translation reserve Total comprehensive income for the period/year (Profit) /Loss attributable to non-controlling interest

maximum number of six (6) members). Any shareholder may nominate a shareholder as a member of the Audit Committee. Such nomination should be in writing and should reach the Company Secretary at least twenty-one (21) days before the Annual General Meeting.

Dr. Mirian Kene Kachikwu 5. RE-ELECTION OF DIRECTORS: The following two Independent Non-Executive Directors who have stayed FRC/2015/NBA/00000010739 longest in office will retire and stand for re-election: General Counsel/Company Secretary i. Mr. Basil Omiyi; and 30 ii.

March 2017 Dr. Charles Okeahalam.

The profiles of these Directors are available on pages 63 and 64 respectively, | w . s e Report p l a tand p eAccounts. troleum.com of w thew Annual 6. RIGHT OF SECURITIES’ HOLDERS TO ASK QUESTIONS In line with Rule 19.12(c) of the Listing Rules of the Nigerian Stock Exchange, Securities’ Holders have a right to ask questions not only at the Meeting, but also in writing prior to the Meeting. Questions submitted prior to the Meeting

T H I S D AY THURSDAY MAY 4, 2017

47

48

THURSDAY MAY 4, 2017 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Theresa May Accuses EU of Trying to Affect UK Election

Theresa May has accused European politicians of making “threats” against Britain to try to influence the general election result.

The PM launched a stinging attack on the “bureaucrats of Brussels”in a speech outside 10 Downing Street after meeting the Queen.

She said some in Brussels wanted Brexit talks to fail and that the European press had “misrepresented” the UK’s negotiating stance.

The election is now formally under way.

Parliament was dissolved at midnight, and the PM made her speech after visiting the

Le Pen, Macron Face Off in Final French Presidential Debate French presidential candidates Emmanuel Macron and Marine Le Pen face off in a final televised debate on Wednesday which is expected to be bitter, personal and potentially decisive ahead of the run-off vote this weekend.

The stakes are high ahead of the contest between the pro-European Macron, a 39-year-old former investment banker, and far-right leader Le Pen, the 48-year-old scion of the National Front party.

Their starkly different views on Europe, immigration, the economy and French identity will be explored for the first time face-to-face, after a week marked by bruising clashes between them.

Polls show Macron holding a hefty but narrowing lead in the polls of 59 percent versus 41 percent, but previous debates during the rollercoaster French campaign have quickly shifted public opinion.

“Our goal is to avoid being dragged into mud-slinging,” an aide to Macron told AFP on condition of anonymity ahead of the two hours and 20 minutes of exchanges between the candidates.

Whatever the outcome, the event marks a new step into the mainstream for Le Pen, whose party was once

considered by France’s political establishment to be an extremist fringe of racists to be boycotted.

When her father Jean-Marie made it into the final round of the presidential election in 2002, his conservative opponent Jacques Chirac refused to debate him out of fear of “normalising hate and intolerance”.

Fifteen years later, Le Pen scored 21.3 percent in the first round of the French election on April 23 after successfully softening the FN’s image – but without fully removing doubt about the party’s core beliefs.

She has consistently sought to paint her rival as the continuation of unpopular outgoing Socialist President François Hollande and a champion of unbridled globalisation, the financial sector and immigration.

“If he finds himself in difficulty, he can always ask François Hollande to come and hold his hand. I won’t complain,” Le Pen tweeted archly on Tuesday.

With Le Pen trailing in the polls, the face-off will be her biggest chance in front of a television audience to impress millions of views or induce an error by her opponent that could tilt Sunday’s election in her favour.

Casualties Reported after Iran Coal Mine Explosion A large explosion has struck a coal mine in northern Iran, trapping at least 80 miners, according to state media.

State news agency IRNA quoted a local official as saying that some of the trapped miners may have died in the blast at the Zemestanyurt mine, about 14km outside the town of Azadshahr.

Press TV, the English service of Iranian state television, reported that at least two miners had lost their lives and scores of others were wounded in the explosion.

The blast happened at 12:45pm (09:45 GMT), at a time when workers were changing shifts, according to local media.

More than 500 people are employed at the mine, IRNA said.

Hamidreza Montazeri, deputy head of Golestan Provinces’ emergency services, said that

25 people, who had entered the mine to help the trapped miners, had been taken to hospital due to gas inhalation.

Some 21 people have been so far taken out of the mine, according to media reports.

“One of the injured miners is in critical condition and other injured miners are being treated for asphyxiation,” Pir-Hossein Kolivand, head of Iran’s Emergency Centre, said.

Iran extracted 1.68m tonnes of coal in 2016, an increase on previous years, thanks to an easing of international sanctions. It exports only a fraction of the coal and uses most of it in domestic steel production.

This is not the first disaster to strike Iran’s mining industry.

In 2013, some 11 workers were killed in two separate mining incidents. In 2009, some 20 workers were killed in several incidents.

Queen at Buckingham Palace as the general election formally got under way.

She said events of the past few days had shown“just how tough” Brexit talks are likely to be.

“Britain’s negotiating position in Europe has been misrepresented in the continental press,” she said, in a reference to a German newspaper’s account of her dinner with the EU Commission chief.

“The European Commission’s negotiating stance has hardened. Threats against Britain have been issued by European politicians and officials.

“All of these acts have been deliberately timed to affect the result of the general election that will take place on 8 June.”

Mrs May statement came during a day in which the UK’s Brexit Secretary and the EU’s chief Brexit negotiator Michel Barnier had appeared at odds

over the size of the “Brexit bill” the UK would owe when it left the European Union.

Mrs May said she wanted to reach a Brexit deal, and for the EU to succeed:“But the events of the last few days have shown that – whatever our wishes, and however reasonable the positions of Europe’s other leaders – there are some in Brussels who do not want these talks to succeed.”

The dissolution of Parliament

means there are no MPs – only candidates – until polling day.

However, government ministers retain their roles and continue their work.

MPs are allowed access to Parliament for just a few days in which to remove papers from their offices, and facilities provided by the House of Commons are no longer available to them from 17:00 BST. It was the shortest Parliament since 1974.

FBI Head ‘Nauseous’ over His Possible Sway on US Election FBI Director James Comey has said it makes him “mildly nauseous”to think that he could have had an impact on the US presidential election.

But Mr Comey said he thought concealing the discovery of new Hillary Clinton emails would have been “catastrophic”.

The comments came during a Senate panel on FBI oversight, in which Mr Comey faced tough questions about his inquiry into Mrs Clinton’s private email use.

Mr Comey added that “even in hindsight I would make the same decision”.

The remarks are the FBI chief’s first public explanation of why he reopened an investigation into Mrs Clinton’s use of a private email server just days before last November’s presidential election.

“It makes me mildly nauseous to think that we might have had some impact on the election,” Mr Comey said on Wednesday.

“But, honestly, it wouldn’t change the decision.”

Mr Comey added that failing to inform Congress would have been an “act of concealment”.

His testimony comes a day after Mrs Clinton once again blamed her surprise upset on Mr Comey’s actions, as well as alleged meddling in the US election by Russian hackers.

“If the election had been on October 27, I would be your president,” she said in New York on Tuesday, referring to the day before Mr Comey notified Congress of the discovery of new emails.

“I was on the way to winning until a combination of Jim Comey’s letter on October 28 and Russian Wikileaks raised doubts in the minds of people who were inclined to vote for me and got scared off.”

But President Donald Trump hit back online.

“FBI Director Comey was the best thing that ever happened to Hillary Clinton in that he gave her a free pass for many bad deeds!” he tweeted.

“The phony Trump/Russia story was an excuse used by the Democrats as justification for losing the election.

Perhaps Trump just ran a great campaign?”

The FBI chief on Wednesday also revealed that Clinton emails containing classified information were forward to former congressman Anthony

Weiner.

“They found thousands of new emails. They found classified information on Anthony Weiner,” he said while under questioning from Democrat Senator

Dianne Feinstein.

“Somehow, her [Mrs Clinton’s] emails were being forwarded to Anthony Weiner, including classified information, by her assistant Huma Abedin.”

Mr Weiner, a former New York Democrat, was married at the time to Ms Abedin, a top Clinton aide.

He was separately under investigation for inappropriate communications with a minor.

T H I S D AY THURSDAY MAY 4, 2017

49

50

T H I S D AY THURSDAY MAY 4, 2017

T H I S D AY THURSDAY MAY 4, 2017

51

52

T H I S D AY THURSDAY MAY 4, 2017

FEDERAL MINISTRY OF EDUCATION

INAUGURATION OF GOVERNING COUNCILS OF 23 FEDERAL UNIVERSITIES Further to the Reconstitution of the Governing Councils of the 23 out of 40 Federal Universities, listed below whose tenures expired April 9th of this year as approved by the President, Muhammadu Buhari GCFR, the Honourable Minister of Education wishes to invite all Chairmen and members of the reconstituted Councils to their inauguration scheduled to hold as follows:

Date: Venue: Time:

Tuesday, 9 May, 2017 Idris Abdulkadir Auditorium, NUC Secretariat, Maitama Abuja 10am prompt

The Councils will be inaugurated by the Honourable Minister of Education, Mallam Adamu Adamu.

The affected universities and their councils are as follows: S/N 1.

2.

Institution Abubakar Tafawa Balewa University, Bauchi.

Ahmadu Bello University, Zaria

State

Chairman Amb. Nimota Niniola Akanbi (Kwara)

BA KD

Timipa Jenkins Okponipere Shehu Aliyu (Marafan Yauri)

BY KB

Alh. Sani Ibrahim Amin Mrs. Funke Awopegba

4.

Federal University of Technology, Akure

14.

University of Agriculture, Makurdi

University of Benin

BN GM KD EK 15. University of Calabar

Chairman Prof. Ibrahim Gambari (Kwara) Members Hon. Balarabe Wakili Dr. Kabiru Jabaka Dr. Aniekan Samson Brown Muniru Abiade

Institution

KN ZF AI OY

Federal University of Petroleum Resources, Effurun

Federal University of Technology, Minna

University of Ibadan

NS KT EB OD

Chairman Prof. Shehu Abdullahi Zuru (Kebbi)

17.

University of Ilorin

Federal University of Technology, Owerri

BA KB DT OS 18.

Michael Okpara University of Agriculture, Umudike

Modibbo Adama University of Technology, Yola

KG ED

University of Lagos

KG

Dr. Abubakar Jaju

SO

Olusegun Owoade

OY

Sir Ben Okonkwo

IM

Chairman Dr. Jibril Oyekan (Ogun)

KW

Ogban Ebock Ogban

CR

Muhd Bashir Mustafa

KB

Engr. Isah Bello Chairman Prince Tony Momoh (Edo)

KT

Members Dr. Philomena Mutban Usman Lamido Mr. S.A. Abejide Ahmed Isa Dutse 19.

PL YB EK JG

Chairman Dr. Wale Babalakin

(Ekiti) Members FCT GM IM ED

Chairman Hon. Muhammadu Lawal Zayyanu (Sokoto) Members Prof. Kaka Bukar Chief Dr. Nelson Amanze Alh. Ibrahim Liman Barr. Lanre Daibu

9.

University of Jos

NG KN DT OS

Chairman Prof. John Ofem (Cross River) Members Blessing Bamaiyi Alh. Umar Shamaki Tula Prof. C.B. Jiburum Murin Onoghon Omohkhomian

8.

Chairman Joshua Waklek, mni (Plateau) Members Dr. Samaila Mande

Members Dr. Samuel Adedayo

Members Abdurrahman Muhd Alfa Alh. Musa Jibrin Madigawa Chief Hon. Halims Agoda Barr. Gafar Babatunde Alabi 7.

Chairman Sen. Nkechi Justina Nworgu (Abia).

CR

16.

Ibrahim N. Mahmud Bello Zaki Abubakar Chief Paul Odili Prof. Abiodun Alao Chairman Prof. Femi Odekunle (Osun)

PL ED BA OS

BN

Members

6.

Chairman Alh. Isah Ashiru (Kaduna) Members Dr. Daniel D. Mwanmut Paul Aimayo Iyangbe Mustafa Ibrahim Dimis Taiye Aiyegbayo

BN KT EN LA

Hon. John Ngukpen

Members

5.

State

Prof. Alkassum Abba (Adamawa)

Members Moore Matthew Funsho Henry Ododah Prof. Essien Akabom Offiong

Chairman Sen. J.N. Waku (Benue)

Barr. Hon. Idris Yahuza Engr. Muhd Sani Adamu Dr. Ben Igwenyi Seye Kosoko

Chairman

Members Engr. Teryila Dzungwe Alh. Muhd Ali Mashi Gbazuagu O. Gbazuagu Modupe Irele

Chairman AVM Mukhtar Mohammed (Kano)

Alh. Babagoro Mu'azu

Bayero University, Kano

13.

Members Hassan Adamu Husaini Dr. Bello Dangaji

Members Mr. Joseph Iyorgee Sabe

3.

S/N

20.

University of Maiduguri

Dr. Saminu Dagari Dr. Aga Adaralegbe Matthew Yomi Kasali Ali Hussain Chairman Prof. Biodun Adesanya (Ogun) Members Prof. Abubakar Mustapha

BO AB TR KW

YB RV LA KT

BO ZF

Makwashe Jekada Hon. Barr. Obiora Samuel Igwedibia Laide Osijonwo

Chairman M. Bukar Zarma (Borno)

21.

University of Nigeria, Nsukka

AN OY

Chairman Chief Mike Olorunfemi (Ondo) Members

Members Alh. Sulaiman Abdullahi Barr. Magnus Agu Alh. Kabiru Sani Abdullahi Mr. Abdulkareem Adeoba 10.

Nnamdi Azikiwe University, Awka

Chairman Alh. Aziz Bello (Oyo)

22.

Members Alh. Bello Isa Chief Godwin Ndaguba Aga Surv. Biodun Aluko Dr. Aminu Mohd Dukku 11. University of Abuja, Gwagwalada

12.

Federal University of Agriculture, Abeokuta

AD IM KN LA

University of Uyo

Abdullahi Yunusa Kinika Nsirim Access Ucheni

JG RV

Chief J.N.J. Ewelu

AN

Akinyelure Fius Oloye Chairman Prof. A.C. Awujo (Imo) Members Mr. Wuduyamba S. Agidi

AD EN EK GM

OD

NS JG

Col. Ubale Dauda, PhD AI Dr. Mrs. Usen Godwin Ikpe OG

Chairman Alh. Sani Maikudi (Katsina)

23.

Usmanu Danfodiyo University,

Prof. E.O. Oyedipe Chairman Rtd Hon. Justice Pearl Enajere

Sokoto (Enugu)

Members Dr. R. L. Gbadamosi

OY

Dr. I. Umaru Dorofi Gbenga Odusola Dr. Lawali Kaura

TR OG ZF

Members Ayo Ajibola

Muhammad Zakari Sangari Hon. Donald Egberibin Dr. M. S. Abdu

Chairman Dr. Aboki Zhawa (FCT) Members Dr. Yakubu Jibril Toragbigiye Mrs. Nkem Nnenna Ezeomah Dr. Femi Olufunmilade Charles Antakiya H.

TR AB OG AD

KW SO BY BA

Vice-Chancellors are expected to attend along with all their internal members including Registrars.

SIGNED

Dr. Hussain Adamu Ag. Permanent Secretary, Federal Ministry of Education

T H I S D AY THURSDAY MAY 4, 2017

53

54

T H I S D AY THURSDAY MAY 4, 2017

RC 103022

55

THURSDAY, MAY 4, 2017• T H I S D AY

NEWS

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

Senate: SGF Mismanaged N8.3bn IDP Funds Carpets EFCC, others for not discovering fraud, transmits report to presidency Saraki admits political pressure to stop probe Damilola Oyedele in Abuja The Senate yesterday indicted the suspended Secretary to the Government of the Federation (SGF), Mr. Babachir David Lawal for corruption and abuse of due process in the management of the N8.3 billion allocated to the Presidential Initiative on the North East (PINE).

The Senate also carpeted the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices Commission (ICPC) and other anti-graft agencies for not discovering the quantum of fraud that was perpetrated in PINE, particularly as it was evident that the billions of naira allocated to alleviate the plight of the Internally Displaced Persons (IDPs) in the North-east were not yielding results.

The upper legislative chamber further transmitted its report of the investigation into the allegation of fraud in application of PINE funds to the presidency yesterday.

Adopting the report of its adhoc Committee on the Mounting Humanitarian Crises in the North-east, the Senate called for the prosecution of Lawal by the EFCC and other anti-graft agencies for contract fraud, abuse of office, misapplication of funds and other corrupt practices.

The report which was signed by seven members of the committee, noted that the sum

of N6.8 billion was expended in three phased projects by PINE in six months (March-September 2016) leaving a balance of N2 billion, even though none of the 27 companies that were awarded 39 contracts met any of the six pre-qualification criteria of the Bureau of Public Procurement.

Lawal was accused by the Senator Shehu Sani-led committee of using his company Rholavision as a destination pool for receipt of kickbacks amounting to N500 million from companies that were awarded PINE contracts.

It alleged that Josmon Technologies Ltd which was awarded two contracts totaling N530.6 million for the removal of invasive plant species, later transferred over N317 million to Rholavision; while Messers Adamawa Boreholes and Drilling Company, with a N54.8 million contract to renovate seven classrooms in Adamawa, also transferred N18.3 million to Rholavision’s account.

Also, Barde Brothers Multi Services Ltd, with seven contracts totalling N145.6 million to renovate classrooms in Adamawa, transferred N71.2 million into one account bearing Badau Agricultural Services Ltd and another N13 million into the personal account of the suspended SGF. The recommendations of the report were unanimously adopted by the senators.

Speaking on the report, the

Senate President, Dr. Bukola Saraki admitted that the leadership of the Senate and the investigating committee came under intense political pressure to stop the probe.

“I am sure of the kind of pressure on the members, especially the chairman and some of us in the leadership and the kind of pressure we were under.

“But for you to have been able to stay firm and do your job, and carry out your responsibility. I must commend the committee and the chairman in particular.

“I am proud of a Senate that can produce this kind of report despite the political pressure that we know existed and present a report that is not biased,” he said.

Saraki added that facts of the

matter spoke for themselves, adding that whatever the sentiments were during the probe, the report showed that something had gone wrong.

“This also raises question on our anti-corruption agencies, truly, and what they are doing.

I don’t think Babachir is the beginning of corruption in these agencies.

“Surely, there are people under him who also made it conducive for this kind of looting. And I believe that it should not just stop here. The anti-corruption agencies need to go there. This is systemic.

“I don’t know whether the PCNI and whoever is there now, and if the calibre of people there now can do what is necessary.

But I believe that it is a great indictment on all of us if they

don’t.

“If the people there are not the right people who need to be there, then the right people must be put there to get it right.

“I am emphasising this, so that it is not just about the SGF,” Saraki added.

The Senate President also lamented that some people chose to make profits from the humanitarian crises, adding that it did not speak well of the Nigerian society.

Also speaking, Deputy Majority Leader, Senator Ibn Na’Allah (Kebbi South) said it was disturbing that the companies had an obligation to transfer back some amount of money to Rholavision.

Na’Allah alleged that there was credible evidence that

part of the money made from PINE contracts was used to sponsor people against the National Assembly.

“We have a good president who has gone all over the world, promising the entire world that he would change this country. And then, we have this misfortune of having some very few individuals finding their way into the government. How they did it, only God knows.

“They want to get at the foot of the government and they were entrusted with the mission and vision of Mr. President. We are lucky as this is one that the country is now aware of.

“We have many of them and

Cont’d on Pg 61

Saraki: Why We Started Process for RECs Confirmation

Senate confirms ministerial nominees

Damilola Oyedele in Abuja The Senate President, Dr. Bukola Saraki, has said the Senate commenced the processes towards the confirmation of the Resident Electoral Commissioners (RECs)after its two weeks suspension of the matter elapsed.

He said this in reaction to reports that the screening exercise was suspended indefinitely until President Muhammadu Buhari removes the acting Chairman of the Economic and Financial Crimes Commission (EFCC), Mr. Ibrahim Magu, whose nomination as substantive boss was rejected by the Senate.

This is as the Senate confirmed the ministerial nominations of Prof. Stephen Nkani Ocheni from Kogi State, and Mr. Suleiman Zanna Hassan from Gombe State Saraki, speaking with journalists yesterday at a briefing to commemorate the World Press Freedom day, said it is erroneous to always assume that there is face-off between the executive arm of government and the legislature.

Friction from time to time is normal between the two arms of government based on the principal of separation of powers in a presidential system of government.

“When we stood down the

issue of the RECs, we made it clear at that time that we were expressing dissatisfaction with the positions that the executive was taking, and we did not say that we did not working with the executive,” he said.

Saraki added that the Senate took the decision to satisfy senators who protested the inaction of the president on Magu, whose rejection was conveyed in a memo.

“To satisfy those that raised it, we stepped it down for two weeks and after that, we would come back to it. At least we have satisfied those who had strong views about it, and did not just disregard their opinion.

So what happened yesterday is that after a while we took it back,” he said.

Meanwhile, the Senate yesterday confirmed the ministerial nominations of Prof Stephen Nkani Ocheni from Kogi state, and Mr. Suleiman Zanna Hassan from Gombe state, to fill the vacant positions in President Muhammadu Buhari’s cabinet In a process lasting about 35 minutes, the nominees fielded questions from the Senators on the economy and federalism.

Senator Aidoko Ali (Kogi East) said Ocheni has the backing of all senators from the Kogi caucus.

GOOD NEWS FOR SHAREHOLDERS

L-R: Managing Director/CEO, Nigerian Breweries Plc, Mr. Nicolaas Vervelde; Chairman, Chief Kola Jamodu; and, Company Secretary/ Legal Adviser, Mr. Uaboi Agbebaku, at the company’s Annual General Meeting in Lagos...yesterday

Akinrinade Expresses Regret over His Participation in Nigerian Civil War

Wants country restructured to save it from collapse

Segun James Almost 50 years after the Nigerian civil war ended, a major participant in the fratricidal war and former Chief of Army Staff, Lt. Gen. Alani Akinrinade (rtd), has regretted his participation in the war fought to keep Nigeria one.

Nonagenarian and elder statesman, Chief Femi Olopade, disclosed this at the presentation of Akinrinade’s book titled: ‘My Dialogue With Nigeria’ at the Nigerian Institute of International Affairs in Lagos yesterday.

Olopade, who was the Chairman of the occasion, said based on what has been happening in the polity over the years, Akinrinade has now become the chief proponent of the restructuring of Nigeria in order to save it from imminent collapse.

He warned that if people

like Akinrinade, whom he described as frank, detribalised, kind-hearted and stubbornly principled now advocates restructuring, then something is wrong with Nigeria as it is presently composed and he must be listened to.

According to him, the army general who does not “carry the baggage” of partisan politics on his shoulders is in the best position to tell the true situation of Nigeria, adding that Akinrinade was a NADECO chieftain at the height of battle to wrest the country from the clutches of the late Head of State, Gen. Sani Abacha, and paid dearly for it when his home was bombed and burnt by unknown persons during the struggle.

Also speaking in the same vein, veteran journalist and Director of Mayfive Media, the publishers of the book, Mr. Ray

Ekpu, opined that Akinrinade, as a young man, fought to keep Nigeria one, hence he cannot now as an old man, want the country to disintegrate; and that he insisted why his call for the restructuring of Nigeria must be taken seriously.

He recalled that during the coup of 1975 led by Lt. Col. Bukar Sukar Dimka in which the then Head of State, Gen. Murtala Muhammed, was killed, it was Akinrinade as the General Officer Commanding the 2nd Division of the Nigerian Army in Kaduna that first stood up against the coup plot before the putsch was put down.

Ekpu urged President Muhammadu Buhari to listen to the calls by Akinrinade by going ahead to restructure Nigeria now because it is an idea whose time has come and the outcome will be good for all peoples of the country.

At the occasion which saw a galaxy of who is who in Nigerian military and politics including chairman of Globacom, Dr. Mike Adenuga; Alex. Duduyemi, Pastor Tunde Bakare, Alake of Egbaland, Oba Gbadebo, who served under Akinrinade as an officer; Governors of Ondo and Osun States, Arakunrin Rotimi Akeredolu and Rauf Aregbesola respectively; Chief Bisi Akande; Gen. David Jemibewon (rtd); Deputy Managing Director of THISDAY Newspapers, Mr. Kayode Komolafe; Lady Maiden Ibru; Gen. Ike Nwachukwu (rtd); Gen. Godwin Alabi-Isama (rtd) and Mr. Tunde Rahman who represented Senator Bola Tinubu, among others, the book reviewer, Prof. Adebayo Williams, disclosed that the book was not a memoir of the General but a compendium of speeches, presentations and opinions over the course of time.

56

THURSDAY, MAY 4, 2017• T H I S D AY

NEWSXTRA

Uranta: FG Stonewalled N’Delta Peace Process Says Osinbajo not responsible for peace in region Expresses concern over uncertainty in the presidency

Senator Iroegbu in Abuja The Executive Secretary of the Pan-Niger Delta Forum (PANDEF), Mr. Tony Uranta, has accused the federal government of being an impediment to the sustainable peace and stability in the Niger Delta region.

Urranta made the remarks yesterday while speaking as a guest on Arise Television, a THISDAY sister broadcast organisation.

He said the presidency is not serious in engaging stakeholders in the region to bring a lasting peace.

Uranta, however, noted that President Muhammadu Buhari started on a good footing when he met with the leadership and representatives of PANDEF in November last year at the Presidential Villa, Abuja.

At the meeting, he said the PANDEF leadership presented a 16-point agenda before the presidency.

“But all the 16-points revolved around one point and that one point was: ‘Mr. President, no

matter how much and well intentioned you are towards this region, we need to see it in action and it cannot be auctioned just randomly. And we do not need a new conference or summit because there has been conferences and summits held since the Wilkinson Commission of 1958.

“So Mr. President, all we want is please constitute a panel to meet with a corresponding panel or groups from this PANDEF and we will table certain issues and address low hanging fruits that can bring about not just security in the region but stability in the nation, and hopefully, development for the region,” he said.

Unfortunately, the PANDEF leader said the presidency has been merely acting up and has not shown any serious intention of dialoguing with the people of the region since the November meeting.

Uranta opined that the presidency was only playing to the gallery, avoiding the real issues while mounting propaganda of

unintended actions.

He said: “As it is to date, in fact, since then, it has been virtually stonewalled by the government.

All we got in response to this the best that we saw was a putative tour of the region by the vice president, which we were glad to accept but we made it clear at that time and we are still repeating that it does not substitute for the crucial needs for PANDEF to meet with the presidency on steady basis.

“Through this, we can fashion our an agreement of understanding among parties, because it’s not just us and the government, there are the international oil companies (IOCs), there are other interested stakeholders but these have not happened.

“And we want that even Niger Delta Avengers (NDA) and other major groups were not going to be able to guaranty that they will continue to the ceasefire . A few individual in government felt otherwise. They felt, oh we got certain people in our pockets so to say. But like I said to one minister...Niger Delta is a big place, and it’s not really composed of a new people but really a combination of old travail fellows who felt it’s about time to renew the agitation.”

Speaking further, Uranta disclosed the role PANDEF played in bringing about the current peace and stability being enjoyed in the region.

He said last year, PANDEF (the premier body composed

of the elders and youths of the region) of which he was one of the executives of the Central Working Committee, prevailed on the NDA and four other major groups to lay down their arms and declare a unilateral ceasefire.

This, he said, was to “say to the government, we are prepared to stop, to cease any negative action so as to allow you the room to negotiate with our representatives. That was PANDEF words to the presidenc, and the president in particular, started off on a right footing, eventually met with the leadership in November, 2016.”

Uranta also clarified that contrary to reports, it was not the visit of the Vice President

Yemi Osinbajo that brought peace to the region, but rather the intervention of the premier Niger Delta group.

According to him, the region “has been stable because of PANDEF, not the vice president”, adding “that narrative is a total lie that the vice president stabilised the region.

“No he did not. The region had become stable two months before we met with the president in November and we achieved this stability by having very intense engagement with these individuals in the creeks.

But we don’t mind anybody taking credits for anything.

What is important is there is need to substitute substance for shadows, and movement for motion.”

GTB, FirstBank, UBA Show Evidence of Funding SMEs, Readmitted into FX Market Naira remains stable despite banks’ suspension Obinna Chima Guaranty Trust Bank (GTBank) Plc, FirstBank and United Bank for Africa (UBA) Plc yesterday were readmitted into the spot and wholesale forwards segment of the foreign exchange market by the Central Bank of Nigeria (CBN) after the three lenders were able to provide the banking system regulator with evidence that they had been selling FX to Small and Medium Scale Enterprises (SMEs) since the introduction of the special window for small businesses.

Save for eight banks in the country, the CBN on Tuesday had barred 14 others from participating in the weekly wholesale spot and forwards intervention in the market.

According to the CBN, the banks were penalised for frustrating its FX supply policy to SMEs. The eight banks that were not suspended comprised: Access Bank Plc, Diamond Bank Plc, Fidelity Bank Plc, Heritage Bank, Jaiz Bank, Sterling Bank Plc, Unity Bank Plc and Zenith Bank Plc. However, a senior CBN official informed THISDAY yesterday that GTBank, FirstBank and UBA had been readmitted to participate in the weekly wholesale spot and forwards intervention, after it had been verified that they were in compliance with the sale of FX to small business through the SME FX window.

He said other banks were also in the process of providing verifiable proof of compliance and once they do so, they would be readmitted.

According to him, the sale of FX to SMEs has become the “gold standard” for participating in the forex market and the CBN would not hesitate to sanction

any bank and its officials who circumvent the rules.

Despite the suspension of the 14 banks, the FX market was calm yesterday, with the naira maintaining its previous day’s value of N390 to the dollar.

This is just as the CBN yesterday revealed that authorised dealers were able to subscribe to $65.94 million out of the $100 million that it offered at the interbank wholesale transactions which were concluded yesterday.

The central bank also yesterday offered another $150 million for auction at the wholesale windows of the market.

With this development, experts were of the view that the value of the naira would strengthen against other international currencies.

CBN spokesman, Mr. Isaac Okorafor said there was no cause for alarm as the development showed there was enough to meet the legitimate needs of genuine customers.

He further disclosed that the CBN was in receipt of requests submitted by authorised dealers on behalf of their customers for interventions in the retail segment of the market.

He added that the CBN would continue its interventionof $20,000 to dealers in the Bureau de Change (BDC) segment this week.

While stressing that the CBN was nearing its goal of a rate convergence in the interbank and the BDC segments of the market, Okorafor re-echoed the assurances of the CBN governor, Godwin Emefiele to sustain the current levels of interventions in all segments of the market.

HONOURING AKINRINADE

L-R: Former Governor of Osun State and chietain, All Progressives Congress (APC), Chief Bisi Akande; Ondo State Governor, Rotimi Akeredolu; host and former Chief of Defence Staff, Lt. General Alani Akinrinade (rtd); Alake of Egbaland, Oba Adedotun Gbadebo; and Osun State Governor, Rauf Aregbesola, during a book presentation titled: A ‘ lani Akinrinde: My Dialogue with Nigeria’ in Lagos... yesterday Yomi AkinYele

Ekweremadu Alleges Plot by Presidency, EFCC to Frame Him It’s a lie , EFCC tells Deputy Senate President

Damilola Oyedele i and Paul Obi in Abuja

reads in full: “Distinguished senator, there is a grand plan from the cabal The Deputy President of the in the Presidency, using EFCC Senate, Ike Ekweremadu, has as an anti-graft agency, to indict alleged that the presidency, using and remove you from office. the Economic and Financial This cabal in the presidency has Crimes Commission (EFCC), mandated the EFCC chairman has perfected plans to raid his to carry out this evil operation Enugu home and plant some within two weeks.

“The plan and the trap incriminating items, including foreign currencies and arms in it. goes like this: On May 6, Ekweremadu, who raised 2017 - Saturday night to Sunday a point of order at plenary morning - the EFCC, alongside yesterday, said he was informed local and international media, of the plot by a whistle blower both print and television and radio, will raid an apartment within the EFCC. The deputy senate president under the guise of whistle said the plan is to ensure his blowing policy of the federal government with a search removal from office.

He also alleged that he warrant already obtained would be arrested and detained in the magistrate’s court to pending the outcome of the search an apartment alleging investigations, as part of plans to to be one of your guest houses frustrate any political ambitions in Enugu State capital or any suitable available apartment in in future elections.

Ekweremadu read the two your senatorial district that will paged letter purportedly from serve this evil purpose.

“EFCC will be claiming to the whistle blower who claimed to be an investigative journalist have received a tip-off from a working covertly with the whistle-blower in your state, alerting the agency of a large EFCC. The letter in poorly written huge (sic) amount of money of English, obtained by THISDAY different currencies in the said

apartment belonging to you, Ekweremadu, the Deputy Senate President of the Federal Republic of Nigeria, a proceed of which is likely to be considered as illegally obtained and acquired, which constitute abuse of office and corruption,he said among other allegations.

Meanwhile, the Peoples Democratic Party (PDP) caucus in the Senate has alleged that the presidency plans to use security agencies to silence its critics in the party and in the All Progressives Congress (APC).

It also condemned the alleged plot against the deputy senate president.

The spokesperson of the caucus, Senator Enyinaya Abaribe (Abia North), while speaking after the caucus meeting held yesterday, said there are plans to harass and intimidate all former governors of the PDP and dissenting voices in the APC. Flanked by several members of the caucus including Ekweremadu and Minority Leader, Godswill Akpabio, Abaribe accused the government of breaches of fundamental

human rights.

The caucus also condemned the detention of formers Governors Sule Lamido of Jigawa, Gabriel Suswan of Benue and Babangida Aliyu of Niger State.

However, the EFCC debunked allegations by Ekweremadu that its operatives were planning to implant a large chunk of money in various denomination as a cover up to raid his house in Enugu.

EFCC’s Head of Media and Information, Wilson Uwujaren, said: “The attention of the EFCC has been drawn to the alarm purportedly raised by the Deputy Senate President, Ekweremadu at May 3 plenary of the upper chamber of the National Assembly.

“The distinguished senator alleged that there were plots by the commission to set him up by planting monies and guns in his residence.

“The commission wishes to state in very strong terms that it is not aware of any plot to set up Ekweremadu for any arrest.”

THURSDAY, MAY 4, 2017• T H I S D AY

57

Atiku: How I Escaped Sack from Customs over 53 Suitcases Saga Onyebuchi Ezigbo in Abuja Former Vice President, Alahji Atiku Abubakar, yesterday revealed how he was booted out of his job at the Nigerian Customs Service (NCS) over the controversial importation of 53 suit cases into the country in 1984 by a first class traditional ruler in the North.

Atiku, who was the Customs Officer in Charge of the Murtala Muhammed Airport when the suit cases were imported into the country, spoke on his ordeal during the incident, saying the matter almost cost him his job in Customs.

According to Atiku, the Customs bureaucracy then wanted him fired for confirming a newspaper report about the importation of the suit cases, but that the then Minister of Finance, Dr. Onaolapo Soleye, saved his job.

Speaking at a night of tributes and inauguration of an education endowment fund in memory of the late former Managing Director

of Daily Times, Dr. Onukaba Adinoyi-Ojo, at the Shehu Yar’Adua Centre in Abuja, the former vice president and chieftain of the All Progressives Congress (APC) said the then military government prevented the Customs operatives from detaining the suitcases and drove it away in a military truck.

He said: “I was a young officer in 1984 in charge of Murtala Muhammed Airport while Ojo was a correspondent of The Guardian covering the airport. We got to know each other because apparently, there were some things we both believed in. Ojo was radical and I was radical, he believed in transparency and straight forwardness.

“Then this policy of change of the national currency came into effect by the military government. It was on a weekend when the issue of the 53 suit cases came up. I wasn’t at the airport because it was a weekend and I was the officer in charge of the place and so, there were beat officers

conducting the affair.

“The plane landed on the VIP section and the ADC to the Head of the federal military government came in with a military truck and personnel and drove straight to the aircraft and offloaded those suit cases and did not allow the Custom officers to do their work, and drove away.

“All the custom officers could do was to make an entry into what we called station dairy. If you are a policeman, custom or military man, you should know what a station diary means. It is a diary where we record all incidents as they happen,” he said Atiku recalled the role of the late Ojo saying, “because he was such an investigative journalist, he got the report. He wasn’t there and normally, a station dairy is not a public document,

but our own document.

Somehow, Ojo, because of his inquisitiveness, came to know of that entry and from the extract of that entry, he told the world about the improper importation of 53 suit cases.

“I resumed duty on Monday and was confronted with national headlines about the 53 suit cases and without clearing from my headquarters, I just confirmed that there was such an importation and that investigation was being conducted.

“I was summoned to the headquarters and queried why should I confirm the report, and I said I did because it happened, and I met it in the station dairy. I was threatened with expulsion or dismissal from service and I said I was ready if that was an offence.

“The controversy raged on

and the bureaucracy insisted that I should be fired and the then Minister of Finance who happened to be Dr. Soleye, said: ‘What is Atiku’s offence that you want him fired?’ As the minister, he over ruled the bureaucracy and I retained my job.”

The former vice president said the Ojo’s handling of the matter clearly showed the type of person that he was when it came to his work.

“He was completely dedicated to investigating and writing the truth. No matter what you do or try to do, he will go ahead and write the truth.

Since that moment, we struck a very close relationship. When I had the opportunity to work with him again, I did not hesitate to give him an appointment as one of my Special Advisers.

“He was one of the seven or

NEWSXTRA

eight PhD holders in my office and I recall my boss calling me one day and asking me, what is it you are doing with all these PhD holders and I said, Mr. President, I like to work with people that I will learn from.

If I know that I am not going to learn from you, I will not hire you and work with you.

“Together with the rest, they form the core of my office and of course, in our administration, he knew the impact of my office on our administration. That is a matter for historians to write.”

Speaking on the reason for the endowment fund, he said: “Even if Ojo were to be alive today, he will be working for his family and trying to give the best education for his children.

That is why I initiated this educational fund for his three kids.”

Court Grants Babangida Aliyu, Nasko Bail

Laleye Dipo in Minna

An Minna High Court presided over by Justice Aliyu Maiyaki yesterday granted the immediate past Governor of Niger State, Dr. Muazu Babangida Aliyu, and his erstwhile Chief of Staff, Alhaji Umar Mohammed Nasko bail.

In his ruling on the application for bail of the two accused persons who were arraigned before the court by the Economic and Financial Crimes Commission (EFCC) for corruption-related offences, Justice Aliyu Maiyaki said he was releasing them on bail because the offences for which they were charged “are ordinarily bailable.”

The judge therefore released former governor on bail in the sum of N150million and two sureties in like sum.

In addition, he is to provide two sureties with landed property worth N200million each.

The property, according to the judge, should be domiciled within the jurisdiction of the court while the Certificate of Occupation (C of O) of the landed property should be deposited with the registrar of the court for the duration of the trial.

As for Nasko, Justice Maiyaki released him on bail in the sum of N100million and two sureties in like sum.

Unlike that of Aliyu, each of the sureties must have property worth N150million located within the jurisdiction of the court.

The CofO of the property should also be deposited with the Registrar of the court till the conclusion of the trial.

The judge, however warned that the court would not hesitate to revoke the bail granted if the court has evidence that the accused persons were interfering with the investigation of the case by the EFCC. In arriving at his decision to grant Aliyu bail, Justice Maiyaki said: “There is no evidence that the applicant has ever been tried

or convicted of any criminal offence.”

On the claim by the prosecution that the offence for which he was charged was rampant and as such should not be granted bail, Justice Maiyaki declared that “if an offence is rampant, it should not be a ground to refuse bail, no matter how rampant an offence is the judge should detach himself and treat each case on its merit.”

Justice Maiyaki on the bail for Nasko, said since the prosecution did not file a counteraffidavit to that filed by the second defendant, it was presumed the prosecution would not oppose his release on bail.

The affidavit deposed to for Nasko had described the second defendant as “a man of exemplary character who will make himself available and will not commit any offence when on bail. He will also have unfettered access to his counsel.”

Counsel to Nasko, Mammam Mike Usman (SAN) described the bail conditions “as too stringent” but expressed optimism that his client would try to meet the conditions.

It was learnt that the elder brother of ex-governor, the Sardauna Minna, Alhaji Ibrahim Aliyu, and a former Commissioner for Education in the state, Dr Peter Sale Sarki, facilitated the bail of the ex-governor.

THISDAY gathered that to beat the huge crowd that gathered outside the court, the former governor and Nasko were brought into the court room at about 6.30a.m. when the court staff were yet to report for duty.

They were kept in the Registrars office until 9a.m.

Justice Maiyaki however, started reading his ruling commencing with that of the second defendant at 9.15a.m. lasting 30 minutes after which he read that of former governor for another 30 minutes.

AN ENDOWMENT FOR ONUKABA

R-L: Former Vice President and chieftain of All Progressives Congress (APC), Atiku Abubakar, Hajiya Maimunat Onukaba Adinoyi-Ojo; and Audu Onukaba, at the night of tributes and the inauguration of Dr. Onukaba Adinoyi-Ojo Endowment Fund, at the Yar’Adua Centre, Abuja ....Tuesday

Lamido’s Continued Detention Shameful, Say Northern Youths Detention of former governor stalls corruption trial in Abuja

Ibrahim Shuaibu in Kano and Alex Enumah in Abuja Youths under the auspices of Sule Lamido Peace Initiative Group (SULPIG) in Sokoto, Kebbi and Zamfara States respectively, yesterday called on Nigerian youths to embark on fasting and prayers for divine intervention against the “injustice meted out against the former Governor of Jigawa State, Alhaji Sule Lamido, by the state government and the Nigeria Police following his political persecution.”

Shortly after the joint meeting of the group in Sokoto, its coordinator, Alhaji Ridwanu Abdullahi Adanji, issued a statement to THISDAY in Kano that members from the three states would embarked on fasting and prayers to seek God’s intervention for the release and protection of Lamido “against perceived enemies and agents of

hatred and political persecution allegedly led by the police and the state government.”

According to him, Lamido represents one of the few remaining Nigerians that are not scared to openly speak the truth on issues affecting the masses in order to offer an enduring solution no matter who is in control, so as to ensure unity, political cohesion and progress of the country.

Also, he recalled that Lamido fought to ensure justice and fairness, not only among ordinary Nigerians, but the downtrodden in state, where he suffered to facilitate development and good governance.

“It is on record that Lamido remains as reliable bridge of the Talakawas as he’s always against injustice, and he is not afraid to air his opinions, while protecting the welfare

of ordinary citizens of Nigeria,” it said.

However, the group condemns the continued detention and incarceration of Lamido, noting that it is an abuse of his fundamental human rights to freedom of speech, as it stressed that anything against it would be seen as injustice from both the state government under Governor Muhammadu Badaru, “who allegedly connived with the police to actualise the ongoing political persecution.”

Meanwhile, Lamido’s ongoing trial over allegations of corruption at the Federal High Court in Abuja was yesterday stalled due to his detention in the state prison.

At the resumption of the trial yesterday, Lamido’s counsel, Joe Agi (SAN), informed the trial court about the present predicament

of the first defendant, having been in detention pending his bail, he could not be produced in court to face his ongoing corruption trial, of which the defendant is expected to be present in court at every of its sittings.

Having heard parties, Justice Quadri adjourned the matter to May 11, 2017.

However, the Economic and Financial Crimes Commission (EFCC) had in September 2015, arraigned Lamido, Aminu Lamido, Mustapha Lamido, Wada Abubakar, Bamaina Holdings Limited, Bamaina Company Nigeria Limited, Bamaina Aluminium Limited, Speeds International Limited and Darlington Agoha on a 2 7 - c o u n t charge of abuse of office and money laundering b e f o re J u s t i c e A d e n i y i Ademola of the Federal High Court in Abuja.

58

THURSDAY, MAY 4, 2017• T H I S D AY

NEWSXTRA

Court Convicts INEC Official, to Forfeit Land, Other Assets to FG

Davidson Iriekpen

A Federal High Court in Lagos, presided over by Justice Mohammed Idris yesterday convicted and sentenced an official of the Independent National Electoral Commission (INEC), Yisa Olarenwaju Adedoyin, was convicted on the basis of a plea bargain he entered with the Economic and Financial Crimes Commission (EFCC).

The plea bargain agreement was dated May 2, 2017.

The judge arrived at the decision after the commission re-arraigned in absentia the immediate past Petroleum Resources Minister, Diezani Alison-Madueke, alongside three officials of INEC, namely: Christian Nwosu, Yisa Olarenwaju and Tijani Bashir.

In sentencing the INEC official who is the second defendant, Yisa Olarenwaju Adedoyin, Justice Idris held that “There is no doubt that the second defendant is an elderly man. “ It is also not in contention that the second defendant is a first time offender.

“This court will temper justice with mercy. The court hereby adopts the plea bargain agreement as the judgment of the court.’

In the plea bargain, it was stated that “upon the conviction of the second defendant, the honorable court should forfeit to the Federal Government of Nigeria all that parcel of land and its appurtenances measuring 100ft by 100, lying, being and situate at

Taoheed Road, Bufo-Osho village, Ilorin-South Local Government Area, Ilorin, Kwara State which property was acquired and developed with the sum of N23,000,000 from the proceed of the second defendant’s unlawful acts.

“That a fine N10,000,000 is proposed to this honourable court to be imposed on the second defendant upon his conviction on count 4 of the amended charge.

“That in paying the fine of the sum of N10,000,000 the second defendant shall raise a draft of the sum of N5,000,000 in addition to the sum of N5,000,000 already recovered from him vide the attached draft.

“That the honourable court shall direct the EFCC in whose name the draft of N5,000,000 was raised by the second defendant to transfer the value of the said draft to the Consolidated Revenue Fund Account of the Federation.

“The second defendant shall within seven days after the payment of the fine imposed by this honourable court enter into a bond with the EFCC never to be involved in economic and financial crimes within and outside the shores of the Federal Republic of Nigeria.”

The EFCC had re-arraigned the defendants for their alleged involvement in money laundering.

But they all pleaded not guilty to the six-count amended charge brought against them by the anti-graft agency.

FG Approves N54bn for Reconstruction of Dilapidated Odukpani-Ikot Ekpene Road

Omololu Ogunmade in Abuja

The Federal Executive Council (FEC) yesterday approved whooping N54 billion for the reconstruction of popular but collapsed Odukpani-Itu-Ikot Ekpene federal highway in Cross River State.

Making this disclosure while briefing newsmen at the end of yesterday’s FEC meeting presided over by Vice-President Yemi Osinbajo, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, said the ministry presented a memo to the council on the road reconstruction and was accordingly approved.

Fashola who said the road was first constructed over four decades ago, added that the approval for its reconstruction yesterday was an expression of the administration’s commitment to economic growth through the reduction of time being spent on the road.

The minister who said Julius Berger had been tipped as the contractor for the execution of the project, disclosed that the contractor would quickly be mobilised to resume work on the road.

Also briefing journalists, the

Minister of State for Aviation, Senator Hadi Sirika, said the council approved a memo for the purchase of advisory services in the aviation sector on sundry issues such as the establishment of national carrier; creation of aviation leasing company; establishment of airport city; establishment of maintenance and overhaul centre and concession of Nigerian airports at the cost of N1.5 billion.

In the same vein, the Minister of Water Resources, Suleiman Adamu, said his ministry submitted a memo on the verification of 2,300 hectare diary irrigation project in Kano and Jigawa States.

He said the project which was started in 1998 under the auspices of Petroleum Trust Fund (PTF), had attained 50 per cent completion when the PTF wound up and had consequently been abandoned for almost 20 years.

“There is already a provision in the 2016 budget and it has also been included in the 2017 budget. We are hoping that by the time they finish this budget we will be able to come back to council for approval to continue,” Adamu added.

Prior to the re-arraignment of the defendants, counsel to the EFCC, Rotimi Oyedepo, had informed Justice Idris that the second defendant, Olarenwaju, had indicated his intention to change his plea from not guilty to guilty plea and also reached a plea bargain arrangement with the commission.

Oyedepo further informed the judge that the anti-graft agency had filed the 2nd amended charge, with a prayer that same should

be accepted and read to the defendants for them to take their pleas.

At the last hearing on the matter, Justice Idris had thrown out an earlier plea bargain arrangement reached at by the then convicted first defendant, Christian Nwosu over allegation of money laundering with the anti-graft agency which he had earlier pleaded guilty to.

The judge had clearly maintained that the plea bargain arrangement cannot

save the convict from serving a stiffer sentence.

Justice Idris made a declaration that the provisions of the Administration of Criminal Justice Act (ACJA) stipulates that such a convict deserves a sentence that is more stiffer.

The EFCC had dragged Allison-Madueke, alongside the three officials of INEC over their alleged involvement in money laundering.

According to the charge, the anti-graft agency alleged that

the INEC officials together with Alison-Madueke on March 27, 2015, conspired among themselves to directly take possession of a total sum to the tune of N500,760,000 which formed parts of proceeds of unlawful act.

EFCC further pointed accusing fingers at Tijani Inda Bashir for taking possession of a sum to the tune of N164,880,000 which forms part of the proceeds of unlawful act, as gratification.

HOSTING TRADITIONAL RULERS

L-R: Rivers State Governor, Nyesom Ezenwo Wike; Ooni of Ife, Oba Adeyeye Enitan Ogunwusi; and Sultan of Sokoto, Alhaji Sa’ad Abubakar, during the Traditional Rulers’ Day of the Golden Jubilee celebration in Port Harcourt....yesterday

FG Moves to Withdraw Idle Oil Refining Licences from Investors NNPC shops for $16.5bn for five-year investment plan Chineme Okafor in Houston, Texas The federal government yesterday disclosed that it had begun moves to withdraw all the licences and operational permits it gave in the past to private investors to build refineries in Nigeria which are yet to be put to use.

It said the decision to revoke the idle oil refining licences was recently reached and communicated to the Department of Petroleum Resources (DPR) whose statutory functions include processing application for various licenses, permits and approvals across the entire oil and gas value chain.

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated this at a press briefing he had with journalists on the sidelines of the ongoing annual Offshore Technology Conference (OTC) in Houston Texas, United States.

The government had in the past granted licences to about eight private refiners to build refineries in the country which largely relies on imported petroleum products to run its economy.

However, only Dangote Group, has since put its licence to use and is now building a 1.3 million metric tonnes per annum petrochemical plant in Lagos which according to the firm, would be ready in the last quarter of 2018.

Kachikwu said in his response

to a related question: “I have spoken with DPR on the matter.

Those who have not been able to move forward will have their licences withdrawn.”

He said the aim of giving licences was to reduce the huge economic losses to fuel importation, meet local demand for products, and explore possible export of refined products from Nigeria to neighbouring African countries.

The minister also stated that the government’s recent plan to encourage modular refining in the country would come with some kinds of incentives.

According to him: “Indeed, we have, since they will be located in states, land will be provided and the modular refineries will be peopled around private sector especially independent producers who already have the crude.”

He equally repudiated persistent claims that Nigeria was an unfavourable investment destination for businesses and investors, stating that all the oil majors operating in her oil fields have for long benefitted from the country’s laidback laws which has for long left Nigeria with little economic returns.

According to him, the quarrels with the oil majors have been that they do not want changes in these business laws, a position the government has frequently refused to accept.

“Nigeria has the best returns on any investments in the world. The terrain is good. A lot of latitude is given to investors to develop what works for them. Most of them know how to be resilient because they know the returns.

Our resource base is huge. We have huge gas reserves, huge downstream opportunities.

“I don’t know of any country that has that much resource, that income generation. I think we can favourably compete with Saudi Arabia,” said Kachikwu.

According to him: “Some of the best returns of the IOCs have come from Nigeria, and the IOCs know this but won’t speak out.

“Where else in this world do you have a framework that hasn’t changed for years? They have made the money alone in the past, but this time, we are going to make the money together,” he explained.

Meanwhile, the Nigerian National Petroleum Corporation (NNPC), has disclosed that it would be shopping for about $16.5 billion to execute several oil and gas projects it has lined up to undertake in the next five years.

The Group Managing Director (GMD) of NNPC, Dr. Maikanti Baru, said this at a function organised by the Petroleum Technology Association of Nigeria (PETAN) in Houston.

Baru, was represented by

NNPC’s Chief Operating Officer (COO), Gas and Power, Saidu Mohammed, at the meeting. He said the NNPC would seek to raise about $13 to $16.5 billion over the next five years.

The money he noted would be used to develop seven giant gas fields ($7 to $9 billion), upgrade the upstream assets of its subsidiary, the Nigerian Petroleum Development Company (NPDC) with $6 to $7.5 billion, and build gas infrastructure and power plants at the tune of $9 to$11 billion.

He also explained that other areas the NNPC would look out to investors are the construction and laying of 897 kilometres gas pipelines ($2 to $3 billion), design, construction and operation of Western Central Processing Facility (CPF) ($2.6 billion), design, construction and operation of Eastern CPF ($1.2 billion) and construction of three power plants with generation capacity of 3150 megawatts (MW) ($3 to $4.5 billion) “For the refineries, our plan is to rehabilitate, and revamp our existing four (4) refineries.

On successful rehabilitation and revamp, our plan is to upgrade their combined nameplate capacity from 445,000 barrels per day to 700,000 barrels per day within the next few years. We would require investments of between $5 and $6 billion,” Baru added.

59

THURSDAY, MAY 4, 2017• T H I S D AY

NEWSXTRA

Nigeria Ranked 17th in Attractiveness Index Survey Records 3.8% drop in FDI projects

Obinna Chima EY’s (formerly Ernst & Young) Africa Attractiveness Index (AAI) for 2016 has ranked Nigeria 17th among 25 countries in terms of choosing a location to invest in the region in 2017.

The latest index showed that the country fell by two points, compared with the 15th position which it was placed in 2016.

The EY revealed this in its Attractiveness Programme Africa report titled: ‘Connectivity Redefined.’

Nigeria only ranked above Cape Verde, Cameroun, Ethiopia, Burkina Faso, Mozambique, Madagascar, Mali and Benin.

On the other hand, Morocco was ranked first in the survey and was closely followed

by Kenya, South Africa and Ghana, in that order.

Also, the report showed that the amount of foreign direct investment (FDI) projects in Nigeria eased by 3.8 per cent in 2016 to 51, compared with the 53 projects that were executed in the country in 2015.

It attributed this to the economic recession which

the nation slipped into last year. With the plunge in crude prices, Africa’s largest oil exporter has been hit by a scarcity of foreign exchange, impacting businesses that were already grappling with issues, including insufficient power supply and complexity in paying taxes.

According to the report, Nigeria’sbusiness environment presently needs urgent improvement, considering the country’s 169th ranking on the World Bank’s Ease of Doing Business Index 2017.

The EY Africa Attractive Index (AAI) 2017 measures the FDI attractiveness of 46 African countries (with the entry of 3 new countries), constructed on the basis of six broad pillars that act as key determinants for choosing a location to invest.

“On a more positive note, the sheer size of the Nigerian market, and its diversification initiatives have led to a significant shift in the nature of FDI to the country. Should progress be made on various dimensions of the AAI, notably business enablement, governance and human development, Nigeria

remains well- placed to become the largest FDI market in Africa over the next decade,” it added.

But the report pointed out that while foreign investors still favour the key hub economies in Africa, a new set of FDI destinations were emerging with some of the Francophone and East African markets of particular interest to us.

Furthermore, it pointed out that in a context of uncertainty, the opportunities for growth and investment were a lot more uneven than they used to be, stating that as such, making

investment choices on the basis of fact-based analysis were more important than ever.

“Looking at Africa, 2016 marked the worst year for economic growth across sub-Saharan Africa in over 20 years. However, this overall slowdown in growth masks a significant variance in economic performance across different African economies.

Even as SSA’s three largest economies - Nigeria, South Africa and Angola - saw sharp downward revisions in growth forecasts, a diverse group of

the second- tier economies in Africa — including Cote d’Ivoire, Senegal, Ethiopia, Kenya, Tanzania, Mozambique and Egypt - are expected to sustain high growth rates over the next five years.

“Low growth was largely driven by external factors, particularly oil prices, which meant two of the largest three economies in SSA, i.e. Nigeria and Angola, had to accept lower receipts for their exports. As a result, both economies fell into recession, with Nigeria hit particularly hard, as the

nation dealt not only with reduced terms of trade, but with lower production levels as a result of domestic insurgency.

“At the other end of the spectrum, Cote d’Ivoire remains one of the fastest growing countries globally, although once again, highly dependent on commodity (cocoa) prices, and its ability to manage internal conflict. Staying in West Africa, Ghana’s prospects are also looking increasingly promising, with a newly elected administration promising to manage the public purse of Côte d’Ivoire”

NBS Puts Nigeria’s Foreign Debt Stock at $11.4bn in 2016 The National Bureau of Statistics (NBS) has said Nigeria’s foreign debt stood at $11.41 billion while its domestic debts was N14.02 trillion respectively in 2016.

The NBS stated in ‘Nigerian Domestic and Foreign Debt – 2016’ data, posted on its website yesterday in Abuja, that the sum reflected the states’ and federal debt stock.

The report, according to the News Agency of Nigeria (NAN), showed that $7.99 billion of the debt was multilateral; $198.25

million was bilateral (AFD) while $3.22 billion from the Exim Bank of China credited to the federal government.

“Total federal government debt accounted for 68.72 per cent of Nigeria’s total foreign debt while all states and the Federal Capital Territory (FCT) accounted for the remaining 31.28 per cent.

“Similarly, total federal government debt accounted for 78.89 per cent of Nigeria’s total domestic debt while all

states and the FCT accounted for the 21.11 per cent balance.’’

The report further gave a breakdown of the federal government domestic debt stock by instruments reflected that N7.56 trillion or 68.41 per cent of the debt were in federal government bonds.

“About N3.28 trillion or 29.64 per cent are in treasury bills and N215.99 million or 1.95 per cent are in treasury bonds.

“Lagos State has the highest foreign debt profile among the

36 states and the FCT accounting for 38.70 per cent.

“Kaduna (6.25 per cent), Edo (5.15 per cent), Cross River (3.22 per cent and Ogun (2.90 per cent) followed closely,’’ NBS added.

Similarly, the report stated that Lagos State had the highest domestic debt profile among the 36 states and the FCT, accounting for 10.54 per cent.

“Delta (8.15 per cent),Akwa Ibom (5.25 per cent), FCT (5.16 per cent) and Osun (4.97 per cent) followed in that order,’’ the report stated.

60

THURSDAY, MAY 4, 2017• T H I S D AY

NEWSXTRA

NPA Acquires N9.27bn Tugboats to Attract Large Vessels Eromosele Abiodun In a bid to attract large vessels into Nigeria and increase revenue for the federal government, the Nigerian Ports Authority (NPA) has acquired four tugboats at the cost of $30 million (N9.27).

The Tugboats named MT DAURA; MT UBIMA; MT UROMI and MT MAJIYA, were built by DAMEN Engineering, Netherlands under supervision of the International Maritime Organisation (IMO) and engine built by Roll Royce.

Speaking at the inauguration, Managing Director of NPA, Ms.

Hadiza Bala Usman, said the tugboats would help meet the aspiration of operators who had been complaining of inadequate tugboats for their operations.

She disclosed that the boats would be deployed for efficient delivery of towage services in the nation’s pilotage districts According to her, “The tug boats will provide authority and avenue where we can tug in very big vessels because lots of our operators at the seaports have been concerned about the towage services but what we are providing with this new MT in addition to our fleet we will be

efficient in delivering towage services in our pilotage districts.

“We are looking to reconcile the crafts because we have 9 tug boats now and we will look at the requirement across the respective zones and deploy them accordingly”, she indicated further, shedding light on their deployment to various zones.”

Highlighting on the crafts acquisition, Hadiza said the effort actually began in 2015, and that the authority had patiently waited, because they were currently, the best in the world.

She said: “The budget circle started since 2015, it was an ongoing procurement process because we budgeted and spent over $30million to procure this four tugboats. They are the best in the world and we have brought them to Nigerian market. So we believe they will enhance our maritime market within Eastern and Western zones of our maritime operations. The names of the crafts were chosen from towns and communities of Nigerian leaders. We identified towns and communities where leaders

who have led this country came from; that is what led to the naming of the vessels.”

In his speech, the DirectorGeneral of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Dakuku Peterside said the acquisition of the vessels would help increase turnaround time of vessels in the nation’s seaports.

Peterside who was represented by the Executive Director, Finance and Administration, Bashir Jamoh said NPA’s determined efforts

would go a long way in assisting government to realise its agenda and plug revenue leakages at a time the country is coming out of recession.

“NIMASA will soon take delivery of five largest modular floating dock on the African Continent. The dockyard would save the Federal government at least $100 million annually.

We assure you and other government agencies of our commitment and continuous collaboration to make business activities thrive at the port,” he stated.

FG Dismisses Reporters Without Borders’ Survey, Restates Commitment to Press Freedom Olawale Ajimotokan in Abuja The federal government yesterday dismissed a recent survey by Reporters Without Borders, alleging that Nigeria’s press freedom rating has been on a sustained decline since 2015.

The Minister of Information and Culture, Alhaji Lai Mohammed, said the report contained inaccuracies and should be taken with a pinch of salt.

In a statement issued in Abuja to mark the World Freedom Day 2017, Mohammed stated the commitment of the Muhammadu Buhari administration to upholding the freedom of the press.

He said in spite of the inaccurate and fake news saturating the media space, government has not locked up any journalist as a result of his or her professional conduct.

The minister said even though there are reports of high-handedness by some states against some journalists and bloggers for alleged misconduct, the federal government has assumed a deliberate policy of not joining issues with the media, because of its unflinching

commitment to upholding the tenets of democracy, which include free press and freedom of speech.

He described the recent incident involving The Punch Correspondent covering the State House as an aberration, adding that the speed with which the order barring the correspondent from the State House was reversed has lent credence to the fact that this government is not out to muzzle the press.

Mohammed recalled that the accreditation of the current Chairman of the State House Press Corps, Ubale Musa, which was withdrawn by the previous administration, was immediately restored upon the assumption of office by the Buhari administration, in order to give the media unhindered access to the seat of power.

He therefore pledged the readiness to this administration to always create a conducive environment for the media to thrive and to continue to discharge its constitutional mandate without hindrance.

Skyway to Hold Global Transport System Conference Skyway Investment Group, a sting rail transport technology company has concluded plans to hold a conference on global transport system in Nigeria.

Skyway technology is a provider of innovative transport service recognised worldwide as global solution to commuters.

The two-day conference on ‘The new $400 billion string rail transport technology industry’ scheduled to hold on May 6 to 7, 2017, at Best Western Plus Hotel, Allen Avenue, Ikeja, Lagos, is free.

According to the organisers, the conference would give Nigerians a unique opportunity into the business of sting rail transportation.

“Built and designed in Russia, the Skyway technology will showcase the global transport technology

system that will drastically reduce gridlock,” they said.

According to Skyway African Representative, Sam Arogundade, “This is going to be a great opportunity to become a co-owner of a global transport technology at highly discounted rates.

“The innovative character of skyway technology is due to an original and effective combination of widely known engineering and technological solutions.

“Each separate component of skyway transport system is the character of component connection into the system that ensures its unprecedented design and operational features. The types of rails are flexible, semi-rigid and rigid structure.”

PRAYING FOR THE COUNTRY R-L: Vice President, Prof. Yemi Osinbajo; Chief of Staff to the President, Mallam Abba Kyari; and the Head of Civil Service

of the Federation, Mrs. Winifred Oyo-Ita, at the Federal Executive Council (FEC), meeting presided over by Osinbajo at the Presidential Villa in Abuja.....yesterday STATE HOUSE..

Sultan of Sokoto Calls for Review of Poverty Alleviation Programmes

Sayss Rivers people are happy with Wike Governor to involve traditional rulers in project implementation Ernest Chinwo in Port Harcourt The Sultan of Sokoto, Alhaji Muhammadu Sa’ad Abubakar III, has decried the increasing rate of poverty in the country despite billions of naira spent by government on several alleviation programmes.

This came as Rivers State Governor, Nyesom Wike, said his administration would empower traditional rulers to participate in the initiation, implementation and monitoring of projects and programmes in rural communities.

The duo spoke yesterday in Port Harcourt at the Traditional Rulers’ Day as part of the Rivers Golden Jubilee celebrations.

The Sultan, who delivered the keynote address on the theme: ‘Traditional Institution in Nigeria and The Challenge of Re-Engineering Viable Local Economies,’ noted that the billions of naira spent on poverty alleviation programmes across the

country had not achieved the desired results.

“Poverty has been growing in the past decades. We need to examine if governments have judiciously used the funds accruing to them. We have spent so much money on poverty alleviation with nothing to show for it. It calls for a revaluation of the policies, implementations and strategies employed in those programmes,” he said.

He noted that every section of the country has legacies that support hard work and urged the government to look inward to proffer policies that would accelerate the development of the country.

The Sultan stressed that the solutions to the problems of the country should be generated from within.

Abubakar also said his visit had made him see that the people were happy with the administration of Governor Nyesom Wike.

“We have been here for two days and we have seen how happy Rivers people are now

and we have enjoyed their hospitality,” he said.

He said the Traditional Rulers’ Day of the Golden Jubilee Celebration of Rivers State is significant as it brought together traditional rulers from all the country’s geopolitical zones, with the prospects of fostering unity.

He called for collaborative efforts amongst the traditional institution to bring out the best in their subjects.

In his speech, Governor Nyesom Wike, stated that his administration would empower traditional rulers to participate in the initiation, implementation and monitoring of projects and programmes in rural communities as they were critical in the government’s development agenda for the grassroots.

He said: “We shall soon come up with a viable framework to empower our traditional rulers to participate in the initiation, implementation and monitoring of development

policies and programmes at the grassroots.

“We are doing all these because we believe that traditional rulers are the best partners to translate our plans and aspirations for the grassroots into reality.”

The governor said the state traditional rulers have over the years played important roles in the peace and development of the state.

Wike said: “We have no doubt that when the history of Rivers State will be written, the sacrifices and contributions of the traditional institution towards building a peaceful, united and prosperous State will be lined in gold prints.

“Apart from being the custodians of our cherished cultures and traditions, traditional rulers also exert immense political authority over their subjects. These traits make the traditional institution indispensable tool for driving socio-economic development, especially at the grassroots.”

THURSDAY, MAY 4, 2017• T H I S D AY

61

NEWSXTRA

Reacting to Adeniyi’s Book, Clark Blasts Obasanjo Accuses former president of hating Ijaws, Jonathan

Sylvester Idowu in Warri Elder statesman and Ijaw national leader, Chief Edwin Clark, yesterday, in an open letter, berated former President Olusegun Obasanjo, describing his accounts in the book, ‘Against the Run of Play,’ as hypocritical and a reflection of his hatred for Ijaws and particularly against former President Goodluck Jonathan.

Clark was miffed with most of the comments credited to the former president by the author of the book, Olusegun Adeniyi.

The Ijaw leader noted that the former president’s comments in the new book were like a reproduction of the negative things he had written in his own three-part memoir, ‘Under My Watch.’

Clark was irked by the way Obasanjo characterised former President Jonathan, his administration and the Ijaw people, tongue lashing him that he had no moral grounds to cast aspersions on others when he has several scandalous issues around him.

“In your narration in Adeniyi’s new book, there’s nothing you said which you had not said in your despicable and false and self-aggrandised book containing assertions and

character which you do not possess yet you are assassinating the character and libeling of patriotic and decent leaders and people of Nigeria including the innocent late President Yar’Adua and Jonathan.

“What character has a man who was a head of state and president of a country with over 180 million people and who is now 80 years old being accused by his own eldest son, Mr. Gbenga Obasanjo, of sleeping with his wife and thereby doubting the paternity of his children and leading to the divorce of the marriage of which you did not show any remorse.

“Your eldest daughter Senator Iyabo Obasanjo whom you alleged in your book: ‘Under My Watch’ that she was been used by the government to assassinate your character. Again I ask what character has this man. However, you concluded that Iyabo fell into the trap of the government because she has the same character as her mother.

“Jonathan was my candidate and I have a right to campaign for him and there was nothing that we said to infuriate or insult Nigerians as you are falsely and maliciously impressing on Nigerians. You said in

Adeniyi’s book that the late DSP Alamieyeseigha, former governor of Bayelsa State, whom you hated and destroyed, had no reason to say ‘that there’s no vacancy in Aso Rock’ on 21st May 2013 when he was campaigning for Jonathan.

“Whereas another PDP leader from Niger State Governor Babangida Aliyu also stated on September 18, 2014 that there was no vacancy in Aso Rock when he was addressing youths of Niger State who wanted him to contest the Presidency. Whereas also in 2003, Chief Anthony Anenih also declared there was no vacancy in Aso Rock because you must be returned as President of Nigeria.

“The same Anenih told

Atiku during his campaign for Jonathan in 2014 that there was no vacancy in Aso Rock in 2015. As Nigerians, we are free to campaign for any candidate we believe in whether he or she is from our ethnic nationality, from our zone, from our state or the same religion as us and or political party. This is the situation all over the world,” he said.

On corruption and Obasanjo’s reference to Jonathan as lacking “trust and honour,” Clark said: “Nigerians who are worshipping you should re-examine themselves. What do they owe to you? You, who sold all national assets of Nigeria including the Nigerian shipping line, Nigerian Airways, Nitel,

Nigeria houses and institutions, you sold everything except Aso Rock.

“You sold Delta Steel Company (DSC) through your son to the Indians who could not pay for it and manage it. Same thing you did with Ajaokuta Steel. So who are you to talk about corruption in Nigeria? You appointed your daughter as the director of a non-existing LNG in Olokola.

You should re-examine yourself if you are well. No sane man will parade himself as an honest man when he knows that he is a corrupt man.

“You sold Nicon Nuga Hilton which became Transcorp Hilton to yourself and others against the advice given to you by your kitchen cabinet. You are a fellow

who must not speak when decent Nigerians are speaking.

You caused all the problems of Nigeria. You are the initiator of corruption in Nigeria. You masterminded it, legalised it and what corruption is today you caused it. And you pretend as if you are not corrupt. You corrupted the National Assembly then you turned round to call them armed robbers and thieves.

“What do you really want from Jonathan and the Ijaw people? Most of the various issues you raised in Olusegun Adeniyi’s book, ‘Against the Run of Play’ are mere re-visitation of the many things you did and failed to do in your eight years of mis-governance,” Clark concluded.

Akabogu Dies at 77, for Burial Friday The death of Madam Blessing Orieagulu Ajabogu (nee Igwenagu) has been announced.

She was aged 77.

Sister Blessing, as she was called, died on March 4, 2017 in her hometown, Okpuno Umuogali Village, Oba in Idemili South Local Government of Anambra State after a brief illness.

According to obsequies released by the family, body leaves Gate Way

Mortuary, Oba to her family house at Ogbuefi John Obi Akabogu Compound in Okpuno Umuogali Village, Oba in Idemili South Local Government, Anambra State at 8am on Friday, May 5, 2017.

Her remains will be interred in her family compound the same day.

She is survived by her aged husband, children, grandchildren, and numerous relations.

May her gentle soul rest in peace.

SA Insurance Gets NAICOM’s Nod Three months after its merger with its sister company, Standard Life Assurance, foremost insurance underwriting company, Standard Alliance Insurance Plc, has received approval from the National Insurance Commission (NAICOM) to operate as a composite insurance company.

With this composite status, Standard Alliance Insurance Plc can now underwrite both life and non-life insurance risks Speaking on the development, the Group Managing Director of Standard Alliance, Mr. Bode Akinboye, said: “The composite insurance licence means so much to us at Standard Alliance because NAICOM has confirmed our eligibility to transact both life and non-life businesses.”

“The merger between

Standard Alliance and its life subsidiary remains indicative of stronger performance and value for shareholders and other stakeholders. Therefore, with the combined professional and resultoriented workforce, SA, as a composite company, is sure of achieving its set merger goals,” Akinboye added.

Akinboye said other benefits of the licence include making Standard Alliance the preferred choice to invest as a result of reduced cost of operations, which ultimately means superior returns on investment to shareholders.

Standard Alliance Insurance Plc is a frontline underwriting firm that seeks to be the leading provider of insurance, risk management and investment services across the West African sub-region with Nigeria as its foothold.

PROMOTING AFRICAN MUSIC

L-R: South Africa Music Star, Sjava, Head, Culture Division, African Union Commission, Angela Martins; President/Executive Producer, AFRIMA, Mike Dada; and MD, Africori Digital Music Solutions, Yoel Kenyan, during the All Africa Music Awards (AFRIMA) 2017 Calendar Unveiling Event held in Sandton, South Africa....Tuesday

FG Denies Closure of Nigerian Embassy in Washington Alex Enumah in Abuja

Clement O. Aduku, who admitted that though some The Ministry of Foreign Affairs junior workers were being owed yesterday refuted report that the salaries, the embassy was not Nigerian Embassy in Washington shut down as reported.

DC, USA, was shut down by Part of the statement read: workers on Tuesday over “The ministry wishes to state that non-payment of their salaries. contrary to reports of shutdown, The denial was contained the embassy is functioning in a statement signed by properly and discharging the ministry’s spokesperson, its statutory diplomatic and

consular responsibilities.”

Aduku, who admitted regrettably that there is a delay in the payment of salaries to some junior workers at the mission, however stated that efforts are being made to address the matter with utmost urgency.

The ministry in the statement further appealed to the public to feel free and go ahead in

transaction of normal business with the embassy as it was never shut.

“The Ministry of Foreign Affairs therefore wishes to assure the public that the Embassy of Nigeria, Washington DC is open for day to day operational activities and can be accessed with ease for all official matters,” the statement added.

SENATE: SGF MISMANAGED N8.3BN IDP FUNDS we are going to bring them to the floor with evidence.

“This same man (Lawal) who spent the best part of his life saying that even ordinary boreholes that should be dug for Nigerians in various corners of this country were unnecessary.

“Now, you are providing consultancy for cutting grass and you are taking N200 million.

“Nigerians don’t even know that there is a difference between the contract to cut grass and the consultancy payment to cut grass,” he said.

Following the adoption of the report, the Senate in an unusual manner, took a 10-minute break

and reconvened to adopt the votes and proceedings of its plenary to allow for transmission of the proceedings to the presidency.

Under normal circumstances, the votes and proceedings of plenary are supposed to be adopted on the next legislative day.

THISDAY gathered that the decision was taken to allow for the transmission of the report immediately, ahead of the conclusion of the investigation by the administrative panel of the executive headed by VicePresident Yemi Osinbajo.

Other findings of the committee showed that there were “no evidence of advertisement for all

the rehabilitation contracts carried out, no evidence of submission of bidders register, no evidence of bid of return sheets at the bid opening exercise to authenticate those that participated in the bid process (it was not a coincidence that for each contract awarded it was bidded by only three companies interchangeably).

“Contracts awarded by PINE were split to favour companies owned by cronies and friends by awarding them more than one contract”.

The committee further found out that all the Bills of Quantities for rehabilitation works presented to the committee by PINE were all

blank, thereby making it difficult to ascertain the true cost of the projects.

“The committee could not sight any documents converting Federal Executive Council approval on all contracts above N50 million as required by the Public Procurement Act 2007.

“That contrary to the provisions of Section 35 of the Public Procurement Act, 95% to 100% payments of all contracts awarded by PINE have been paid for, even as some of the contracts are yet to be fully executed,” the report of committee revealed.

62

thurSDAY, mAY 4, 2017 • T H I S D AY

THURSDAYSPORTS

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

NPFL…NPFL…NPFL…

Ovoke’s Lone Strike Earns Rivers Utd Maximum Points against Remo Stars Rivers United winger, Bernard Ovoke showed signs of returning to his best with a mesmerising display capped with a goal in his club’s 1-0 win over Remo Stars in a rescheduled Nigeria Professional Football League (NPFL) game in Port Harcourt yesterday.

The winger slammed home Emeka Ogbugh’s low cross from close range after impressive work by Ivorian forward, Guy Keumian.

United started tentatively and were almost made to pay the price in the 23rd minute when Abiodun Awoyemi headed wide from two yards after he was played in with a delightful ball

by Edozie Ewelike.

A minute later, Victor Mbaoma came close to scoring for the

visitors again but he scoffed at his effort from 20 yards.

Remo Stars were made to pay for their profligacy in the 41st minute as Ovoke turned home from close range just before half time.

The win lifts United up to 13th on the log with 24 points from 19 matches while Remo Stars remain firmly rooted to the bottom of the log with 19 points from 19 matches.

Remo showed signs of stirring from hibernation in the second half but found clear cut goal scoring opportunities difficult to come by.

Guy Keumian missed a glorious opportunity to double the hosts’ advantage late in the game but still held on to record a crucial win.

LADIES CHESS TOURNEY

Adebayo, Sampson in Early Lead Femi Solaja After four rounds of brilliant chess display at the ongoing Ladies Chess Tournament in Ibadan, the duo of Doris Adebayo and Peace Sampson are leading the pack with three points each in a Swiss round pairing that will lapse in round five.

In some of the games decided at the Obafemi Awolowo Stadium venue of the tournament in Ibadan yesterday, Adebayo was at her best against Omobadewa Akintoye.

It was however a bad day for current National Female Champion, Toritshemuwa Ofowino, as she lost to superior early exchange in the middle play.

Her opponent, Sampson, was left with no option than to resign after 29 moves.

Vivian Dzaayem defeated Yetunde Jimoh in a one-sided affair while Labake Coker and Endurance Eyefia settled for an early draw.

In some other games, Assa Oluwaseun got the better off Blessing Fajugbagbe just as Hafsat Belo-Osague won her match against Funmilayo Akinola.

The two leading players, Adebayo and Sampson will battle it out in the next round just as Akintoye and Omishogbon will do battle on board two.

Dzaayem will hope to improve in the standing as she aims to overcome Olayinka Oyelese’s potential threat.

Ayokanmi Ajayi will face off against Oluwaseun Assa while Yetunde Jimoh is the only player on bye.

The event is a combination of Swiss and knockout pairing.

The first five rounds would be used to select top eight players that will go into the knockout phase stating from quarter finals while the remaining players will continue with the Swiss pairings and complete the mandatory eight rounds for the four remains prizes.

Dankwambo, AshakaCem Tee off Talba Golf Tournament Segun Awofadeji inGombe Gombe State Governor, Alhaji Ibrahim Hassan Dankwambo in collaboration with AshakaCem Plc, last Monday tee-off the first edition of the Talba Open Golf Tournament at the Gogilla Valley Golf Course, Ashaka, Gombe State.

Represented at the ceremony by the state’s Deputy Governor, Mr. Charles Iliya, Dankwambo assured all his administration’s continued support for sporting activities in the state.

“Today’s occasion is therefore a deliberate effort by Governor Ibrahim Hassan Dankwambo to promote the game of golf which has been misconceived by many as a sport for the elites and the rich,” he said.

The governor urged the participating golfers in the tournament to exhibit the spirit

of sportsmanship and fair play throughout the event.

Chairman of Gombe State Sports Commission, Alhaji Bello Suleiman, called on the youth to key into the game of golf as government and individuals have promised to support them in the game.

“Golf has become a popular sport all over the globe. Players of all ages, walks of life, social standard and geographic locations find solace in the game of golf. It has direct benefit on individuals’ health, job creation, social benefits and economic advantage,” he said.

In his remarks, Managing Director and Chief Executive Officer Ashaka Cement Plc, Mallam Rabiu Umar, congratulated Dankwambo for introducing the tournament as a means of bringing together dignitaries from all walks of life across the country for relaxation.

Chairman, Edo SWAN, Ahmed Aigbona, presenting a jersey to Gov. Godwin Obaseki, during a courtesy visit to the Government House in Benin City the Edo State capital... recently

AFCON 2019 QUALIFIER

South Africa to Name Coach for Eagles Clash Next Week

The South African Football Association (SAFA) announced yesterday that it has finalised an agreement with the successful candidate to take over as Bafana Bafana head coach and is in the process of formalising the legal arrangements by exchanging signatures.

The developments bring to a close a thorough, but lengthy process of seeking a replacement for former coach Shakes Mashaba, who was fired a few months ago.

The association said it is mindful that the South African public has been waiting with bated breath for this matter to be concluded.

SuperSport United coach Stuart Baxter is believed to be the coach SAFA has been in talk with for a possible return to the Bafana Bafana job.

Baxter was previously in charge of the national team from May 2004 to November 2005, when he was sacked after failing to qualify for the 2006

World Cup. Mashaba was relieved of his duties in November last year, with Owen da Gama having since been appointed on an interim basis.

Baxter’s agent, Steve Kapulschnik, confirmed last month they had been in contact with SAFA regarding the Bafana job, while Matsatsantsa issued a statement to announce they had given the Englishman the green light to open negotiations.

“SuperSport United FC has given permission to SAFA to engage their

head coach Stuart Baxter with a view to him becoming the head coach of Bafana Bafana,” read the statement from the South African Premiership club.

“If negotiations between SAFA and Mr Baxter are successful, and SuperSport United and SAFA agree on an early termination of Mr. Baxter’s current contract, such appointment would only be effective at the end of the current PSL season, officially commencing July 12017,” read statement from SuperSport.

Eight Countries Confirm for 5th Okpekpe Road Race Elite athletes from as many as eight countries will participate in next weekend’s fifth Okpekpe International 10km Road Race in Okpekpe, Etsakor East Local Government Area of Edo State.

According to Spokesman for the race, Dare Esan, the countries who have confirmed their participation include; Kenya, Ethiopia, Eritrea, Tanzania, Morocco, Turkey, Burundi and of course the host nation, Nigeria.

“We are delighted to announce that elite athletes from eight countries will participate in the IAAF Bronze label race scheduled for Saturday May 13th,” says Esan who revealed that former Nigeria

track and field international, Yusuf Ali, who is the top technical official of the race has confirmed the number of participating countries based on the conclusion of the international elite athletes registration.

“This is to fulfill the IAAF conditions for a label race. The rules state that all label races, from gold to bronze must have a certain number of international elite field spread across four or five countries depending on the class of the label,” explains Esan who added that the desire of the Okpekpe organisers is to move to the silver label rating by next year.

“Bronze Label races must have an international elite field with

a minimum of five men and five women participating in the competition and a minimum of four different nationalities must be represented,” revealed Esan who added that organisers of this year’s edition of the race have fulfilled even conditions met for a gold label race.

“For example we have over 10 men and 10 women elite runners from eight countries participating in the race. For gold and silver labeled races, the international elite field must be a minimum of five men and five women participating in the competition and a minimum of at least five different nationalities,” he said.

This, according to Esan, could be,

for example, elite men from three countries and elite women from two countries for mixed gender races which Okpekpe is.

“It is clear that we are already on the right track for a silver label rating come next year,” he said.

The Okpekpe international 10km road race is powered by Pamodzi Sports Marketing, leaders in sports marketing and hospitality business in Nigeria.

It is the first and only road race in Nigeria whose race course has been measured by an IAAF/AIMS accredited measurer and has been granted full membership of Association of International Marathons and Distance Races (AIMS).

Runsewe: NCAC to Host Cultural Golf Tournament

Olawale Ajimotokan in Abuja

The Director General of National Council forArts and Culture (NCAC), Otunba Olusegun Runsewe, has indicated the council’s plan to organise the country’s maiden cultural golf tournament in Abuja before the end of the year.

Runsewe, who is the first person

to be appointed DG of Nigeria Tourism Development Commission (NTDC) and NCAC, said the tournament would drive cultural values in Nigeria as it will exhibit the country’s cultural approach to the game of golf.

In addition he said the council was also thinking of how to incorporate kiddies’ golf into the

mix to enable children to properly understand Nigeria’s culture and ways of life.

“Before the end of this year the first cultural approach to the game of golf will come up in Nigeria. We are working on it and we hope to incorporate some kid golfers.

It is an event related to culture.

Basically my vision is that any

cultural approach we initiate should result in the creation of jobs for Nigerians,’’ Runsewe said.

The avid amateur golfer similarly echoed the need for Nigeria to join South Africa and Zimbabwe by tapping from the $6 billion fortunes to be realised by Africa in 2019-20 from golf business, saying that the global revenue in sports is massive.

63

T H I S D AY • THURSDAY, MAY 4, 2017

THURSDAYSPORTS U E FA C H A M P I O N S L E A G U E

Higuain Scores Twice as Juve Edges Close to Final

Juventus closed in on a second Champions League final in three seasons as Gonzalo Higuain struck twice to beat Monaco in the semi-final first leg last night.

The French hosts started brightly, with Kylian Mbappe heading at Gianluigi Buffon before forcing another low save.

But Higuain ruthlessly finished two fine Dani Alves assists, sweeping the Brazilian’s back heel in on 29 minutes.

Radamel Falcao went close for Monaco after the break before Alves’ measured cross saw Higuain put Juve in control.

After Real Madrid’s comprehensive first-leg win over city rivals Atletico on Tuesday, it now looks almost certain the two teams in Cardiff on 3 June will form a repeat of the 1998 final, in which the Spanish side

beat Juve 1-0.

It will prove fitting, as the two sides sport the only unbeaten records in this season’s competition.

Monaco, free scoring and dangerous with their youthful side all season, showed moments of threat which could unnerve Juve in the second leg on 9 May. But at Stade Louis II, Massimiliano Allegri’s side showed just how efficient they can be and Monaco’s task looks huge as Juve have not lost a home fixture by two goals since April 2013.

This was another victory built on organised defensive work, with Buffon making a couple of key saves to help usher in a ninth Juve clean sheet in 11 Champions League matches this season.

Gonzalo Higuain (right) in desperate bid to outwit Monaco goalkeeper, Danigel Subasic… last night

E U R O PA

Pogba Boosts for Ronaldo Revels in Centre-forward Role that Crushed Atletico Man Utd

Manchester United has been boosted by the return of several injured players on the eve of their Europa League semi-final first leg at Celta Vigo.

Defender Eric Bailly trained yesterday despite limping out of Sunday’s draw with Swansea City.

Chris Smalling and Phil Jones took part having missed nine games with a knee injury and broken toe respectively.

Midfielder Paul Pogba returns from muscle fatigue, while Juan Mata could start after undergoing groin surgery.

Manager Jose Mourinho faced the prospect of fielding midfielder Michael Carrick or 19-year-old Axel Tuanzebe in

central defence at Celta’s Estadio de Balaidos, but either Jones or Smalling will now likely feature alongside Bailly.

United is bidding to win the Europa League for the first time and guarantee a place in next season’s Champions League in the process.

This will be the English team’s first meeting with Celta, who sits 11th in La Liga and has lost its last three matches.

Mourinho’s side, by contrast, is unbeaten in 11 matches in all competitions.

The second leg is on May 11 at Old Trafford. The winners meet Ajax or Lyon at the Friends Arena in Stockholm on Wednesday, May 24.

Serie A: Milan, Roma Clash at San Siro Live on StarTimes

The excitement in the Italian Serie A League continue this weekend as second placed Roma visits San Siro Stadium in Milan for the Week 35 clash with rival and one of Italy’s most successful club, AC Milan.

With Milan currently in the sixth place, the visitors are favourite to win. However, Milan coach, Vincenzo Montella, seems bent on pulling a surprise victory in the Sunday game expected to spark up Serie A aficionados.

With Giacomo Bonaventura, Patric Cutone and Carlos Bacca in their best form, Milan is expected to shake off the disappointing draws from Crotono last Sunday.

However, head to head, Roma has an edge as it has won two of its matches against Milan with 1-1 and 0-0 draws twice in the last five games they played.

Though it’s a long time Roma has won the Serie League, 2000/ 2001, and trailing league leader by as much as nine points with few games to the end of the season ought to be reason for concern.

Roma Coach, Luciano Spalletti,

is however unfazed, insisting that it has been an exciting season for his team so far.

StarTimes subscribers have the chance to enjoy the best of this Italian blockbuster on World Football Channels 244 and 254 by 7:45pm on Sunday.

Speaking on these coming sporting actions, Acting Brands and Marketing Director, StarTimes, Mr. Qasim Elegbede, said the pay TV commitment to delivering quality sporting content to its subscribers was the reason behind the acquisitions of sporting rights like theSerie A, Bundesliga, French Ligue 1, Chinese Super League, Eredivisie and recently, the 2018 FIFA World Cup in over 48 territories in Africa.

The former Complete Sports sports journalist said StarTimes will be showcasing the best of German Bundesliga football live from the various match centres to the screens of our customers with the AC Milan and Roma encounter as one of the biggest at the San Siro.

No longer the flying winger of old, Cristiano Ronaldo showed his transformation to deadly centre forward has been completed to perfection as he netted a superb hat-trick in Real Madrid’s 3-0 Champions League win over Atletico Madrid on Tuesday.

The Portuguese forward, who also scored a treble in the quarterfinal against Bayern Munich at the Santiago Bernabeu, and five goals across that tie, is revelling in the central striker’s role he has adopted this season.

He was picked alongside Karim Benzema up front in Tuesday’s first-leg clash and produced a

performance that marked him out as arguably the world’s best number nine, despite being a recent convert to the position.

While the 32-year-old’s critics point out he has lost some of his pace and the dribbling ability that allowed him to terrorise fullbacks in the past, the forward proved again that he remains as deadly as ever inside the area.

Tuesday’s treble took his tally for Real Madrid to 399 goals in 389 games, although the forward claims he scored another in 2010 that was officially awarded to defender Pepe.

“I am very happy for the goals

and for reaching 400 goals with Real Madrid,” said Ronaldo, including the disputed effort.

“We have to congratulate the whole team, we were tremendous. It fell to me to score the goals. We played well from start to finish and the goals came naturally.”

As well as a positional switch, Ronaldo has had to deal this season with being rotated by French coach Zinedine Zidane, who has dropped the Portuguese for some of the team’s away trips to keep him fresh for the big occasions.

This has paid dividends with

Ronaldo netting eight times in his last three Champions League games and overtaking Alfredo di Stefano as the all-time top scorer in European Cup semi-finals with 13.

“He has the instinct for goals, he’s unique,” said Zidane.

“Sometimes he needs to rest and he knows that because he’s intelligent.”

Barring a miracle comeback

by Atletico in the second leg Ronaldo will spearhead his team in the final in Cardiff on June 3, with the Portuguese looking in perfect shape to add a fourth Champions League medal to his collection.

Special Olympics Nigeria Marks World Malaria Day in Lagos Special Olympics Nigeria, in conjunction with ExxonMobil, at the weekend marked the 2017 World Malaria Day with a Unified Soccer Tournament at St. Finbarr’s College in Akoka Lagos.

In the novelty match line-up as one of the activities to raise awareness on Malaria and HIV, Team Hospital defeated Team Malaria 2-0 while the Unified soccer match ended goalless.

Speaking at the end of the matches, Special Olympic Nigeria’s Skillz Acquisition Project Coordinator, Sylvester Oboh, considered the event a huge success.

“Apart from the football matches, the 2017 World Malaria Day was a huge success in terms of raising awareness for both malaria and HIV in the country. We had over 50 schools in Lagos State participating in our programmes.

As you can see here, more than 500 families turned up at our programme here at St Finbarr’s College today,” stressed the SO Nigeria project coordinator.

In the Family Health Forum (FHF) segment of the programme, health talks were given to some of the families that turned up on Malaria and HIV prevention.

There were also voluntary

A scene from the Unified Football Tournament… last weekend counseling and testing on malaria and HIV while mosquito nets were also distributed to participants at the event.

According to the project coordinator, Special Olympic Nigeria is using the grassroots soccer to educate athletes on malaria and HIV/AIDS using football as a learning tool.

“This is an effective platform for bringing together and providing

people with intellectual disabilities as well as the community with relevant information about the prevention of malaria and HIV/ AIDS, treatment, as well as basic life-saving skills,” Oboh further stressed.

Special Olympics Nigeria is part of a worldwide movement (Special Olympics international) that is aimed at changing the misconceptions individuals have

about people with intellectual disabilities (PWID).

“It is our mission is to provide year round sports training and athletics competitions in a variety of Olympic - type sports for children and adults with intellectual disabilities,” concludes Oboh as most of the players and their families were entertained with launch and good music to cap the event.

Thursday, May 4, 2017

TR

UT H

& RE A S O

N

Price: N250

MISSILE El-Rufai to Nigerians “We are not worried about the development, it is not compulsory for the president to preside over every Federal Executive Council (FEC); that is why our constitution makes available the place of the vice-president.” – Kaduna state governor, Mallam Nasir el-Rufai dismissing mounting worries surrounding President Muhammadu Buhari’s rumored incapacitation asserting that there is no cause for alarm.

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

President Buhari’s Health Challenge I remember that Segun, as SA media to the late President Umaru Musa Yar’Adua, passed through a path which I also passed through recently and I learnt a lot from those who worked with him, and who are still working with me in the same office. When President Yar’Adua had that medical challenge, I was the editor of Daily Sun newspaper at the time. I remember that nobody could reach Segun. He just went underground. His secretary then, who is my secretary now, pointed my attention to the sofa in my office. She said Segun would put off his phones and sleep on that sofa. So I learnt a lesson from that. I met the publisher of THISDAY newspaper a few days after President Buhari went on vacation which eventually became a medical vacation. He told me that ‘it will be a mistake to go underground, it will be a mistake to be unreachable, it will be a mistake to be incommunicado’. I said ‘but that was what Segun did’. He replied, ‘No, don’t do it’.

W

hen Mr Femi Adesina, Special Adviser on Media and Publicity to President Muhammadu Buhari, explained why he has not followed my footsteps at the public presentation of my book, ‘Against The Run of Play’, last Friday in Lagos, I had a feeling that he might be speaking too soon. Going by feelers from Aso Rock, the real drama of the health challenge of

M

Buhari President Buhari may have just started. And I feel very sorry for Mr Adesina because there is no manual for managing the media for a sick president; especially under the political climate in which we operate with all the mix of religion and ethnicity.

Tomorrow marks exactly seven years that President Yar’Adua died and, as it has been a tradition since May 2011, I usually coordinate a memorial advert for those of us who were his principal officers in remembrance of him.

It is also a period when we reflect on what might have been. Against the background that President Buhari, for the third week in a row, skipped the Federal Executive Council (FEC) meeting yesterday, the rumour mill is already on overdrive while parallels are already being drawn to the Yar’Adua saga.

On Monday, Chief Bisi Akande, former Osun State Governor and founding National Chairman of the All Progressives Congress (APC), issued a loaded statement. “The health of the leader is intricately intertwined with the health of the nation. It is more so in a delicately fragile Union of Nations called Nigeria” wrote Akande who claimed to have wept when he couldn’t see President Buhari at the wedding of his grandson in Kaduna last Saturday.

Although Chief Akande attributed the health challenge to “corruption fighting back”, whatever that may mean, the point is that President Buhari’s capacity to govern has been severely diminished and the agitation for him to either take another medical vacation or resign would be more strident in the coming

days and weeks, especially if he does not resume work. That then explains why the idea of a second term that some people within the administration are now canvassing, is not only silly, it is very provocative. But it is also understandable.

In a piece I did when President Buhari went on his elastic vacation in February, I borrowed from the embedded lessons in the book, “When Illness Strikes The Leaders: Dilemma of The Captive King” to examine the implications of what is happening in Nigeria right now.

According to Jerrold Post and Robert Robins, “the ailing or aging leader and his close advisers can become locked in a fatal embrace, each dependent upon the other for survival: a captive king and his captive court. In the absence of clear rules for determining when a leader is disabled and should be replaced and how a successor will be chosen, illness in high office can be highly destabilizing”.

I consider it very sad that Nigeria would be going through another traumatic season like this on account of the health of the president.

But we have to take Mrs Aisha Buhari’s word that her husband is not in any immediate danger. While we will come back to this issue another day, it is comforting that the handlers of President Buhari have managed the situation very well thus far. I hope it stays that way.

Of Hackers and Pirates

y web portal, olusegunadeniyi. com is loaded today. From the transcript of what President Buhari’s spokesman, Mr Femi Adesina said at my book presentation to that of his immediate predecessor, Dr Reuben Abati, there are revealing insights for readers.

I thank both of them for attending the book presentation. On the web portal, there is also the speech by former Head of State, General AbdulsalamiAbubakar who, as chair of the occasion, arrived 10 minutes before the scheduled time of 10am to meet Chief EmekaAnyaoku, Mr RemiMakanjuola and several other members of their generation who were more disciplined and had to be kept waiting for almost an hour before we started the event. On the website also is the book review by Dr OkeyIkechukwu. It also contains the addresses of the bookshops/ places where the books can be purchased.

Meanwhile, I have been overwhelmed by the kind words and messages of solidarity, following the hacking and free distribution of my book, ‘Against The Run of Play’. While I thank all the people who have taken it upon themselves to fight the infringement on my intellectual property in the social media, and I have seen several efforts, I want to make two things clear. One, this battle is not about me. Two, given where I am coming from, I am not so much bothered by what happened. Perhaps, I should explain that.

I wrote my first book, ‘Before The Verdict’, in 1991 as a fresh reporter with The Guardian on Sunday. I collected the CVs of the 23 presidential aspirants in both the Social

Democratic Party (SDP) and National Republican Convention (NRC) which I then used to write their profiles. In my naivety, I imagined that members of the two political parties would find it useful before making their choices. I expended all my savings on it yet at the end, only one person paid for a copy: Mrs IretiKingibe. I am not sure any other person read the book.

Following the disqualification of the 23 presidential aspirants, I updated the book with the reports of the primaries that led to their disqualification and titled it ‘Fortress on Quicksand’. I printed about a thousand copies which I hawked around. The only person I can remember who gave me any money after collecting two copies of the book is Dr Ibrahim Datti Ahmed, one of the disqualified SDP presidential aspirants at the time. A year later, I wrote “POLITRICKS: National Assembly under Military Dictatorship”.

Despite the fact that the book captured the entire debate on the June 12, 1993 presidential election as well as all the drama preceding it, I got no feedbackthat any of the people who took the copies, free of charge, read it.

Yet, that did not deter me from writing, in August 1997, “Abiola’s Travails” to mark his 60th birthday at a time the winner of the annulled June 12, 1993 presidential election was in detention. For that effort, only the then Chairman of PUNCH newspaper, Chief Ajibola Ogunsola gave me any financial support. That in itself is very instructive since I was at the time a staff of Abiola’s Concord newspapers.

In all those efforts, what motivated me

was to tell the background stories of the political developments at the time even when it was not financially rewarding. But by the time I got married in December 1998, I had to come to terms with the fact that I no longer had any money to waste on books that I was not sure people were reading.

However, early in 2005, then as the editor of Sunday THISDAY, I wrote a column about those goading President Olusegun Obasanjo to seek a third term in office. Many of them were involved in the late General Sani Abacha’s controversial transition programme that was designed to end with his adoption and I named names.

The responses I got to the piece suggested that majority of Nigerians had forgotten.

That was the inspiration for another book: The Last 100 Days of Abacha.

Before I wrote a single line, I sent a mail to Nobel Laureate, Prof Wole Soyinka that I was writing a book on Abacha and I would want him to present it for me. Days turned to weeks and I didn’t hear from him. Then, one day, I got a mail from him saying he would be in the country within two weeks and that he would like to see the manuscript.

I had not even written a single line!

I went to Vanguard, PUNCH and Daily Times where I spent days using their libraries after which I wrote the draft. On completion, I sent the draft to Reuben Abati to help me look at. He called to say that he enjoyed it and that he would write a comment which I could use any way I liked.

Without solicitation, that was how Reuben wrote what I turned to the Foreword while

Col Abubakar Dangiwa Umar (rtd) wrote the Postscript. The book sold out within weeks despite the price tags of N8,000 for paperback and N15,000 for the hardback editions. It was the first financially rewarding book I wrote.

The next book of course was “Power, Politics and Death”. Even though it was hacked from Day One, I still made some good money from it. In 2012 and 2013, I worked on The Verbatim Report (The Inside Story of the Fuel Subsidy Scam). It took me more than one year to complete but at the end, I put the book on my website for free download. It is one of the most extensive works on our oil and gas industry. It is about 800 pages. Interested readers can still download it free on my web portal just like the Abacha book.

I have gone to this length to let readers know that my motivation for writing has always been to tell compelling stories that would be read while monetary consideration is secondary. However, as I stated in the statement I released on Sunday, I am more worried for people in creative arts and sciences, especially those in Nollywood, who are practically at the mercy of hackers and pirates. When creative people in both the arts and sciences cannot be guaranteed the legitimate benefits of their sweat and investments, they lose the incentive to take the risk to create and innovate. And when that happens, the whole society loses.

I thank all the individuals and groups who have taken it upon themselves to fight not only for me but against intellectual theft.

Printed and Published in Lagos by THISDAY Newspapers Limited. Lagos: 35 Creek Road, Apapa, Lagos. Abuja: Plot 1, Sector Centre B, Jabi Business District, Solomon Lar Way, Jabi North East, Abuja .

All Correspondence to POBox 54749, Ikoyi, Lagos. EMAIL: editor@thisdaylive.com, info@thisdaylive.com. TELEPHONE Lagos: 0802 2924721-2, 08022924485. Abuja: Tel: 08155555292, 08155555929 24/7 ADVERTISING HOT LINES: 0811 181 3086, 0811 181 3087, 0811 181 3088, 0811 181 3089, 0811 181 3090. ENQUIRIES & BOOKING: adsbooking@thisdaylive.com