Wednesday 31st May 2017

23 Banks Got N28.7bn Inflows from Dubious MMM Transactions Subscribers lost N12bn Ndubuisi Francis in Abuja No fewer than 23 Nigerian banks received inflows amounting to N28.7 billion executed in 460,000

Emefiele, others seek effective enforcement of Cybercrime Act

transactions through the Mavrodi Mondial Moneybox (MMM) Ponzi scheme within six months, the 2016 annual report of the Nigeria Electronic Fraud Forum

(NeFF), has revealed.

The amount, which was moved between June and December 2016, is 61 per cent higher than the budget of the Federal Ministry of Education

and almost six times over the budget of the Nigerian Defence Headquarters (DHQ) in the 2017 budget, the report erroneously stated.

A quick fact-check by

programme for the year, while N330.54 billion was allocated for recurrent expenditure.

THISDAY of the 2017 budget, as passed by the National Assembly, showed that N139.3 billion was allocated to the Ministry of Defence for its capital spending

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Senate Seeks to Halt Planned Concession of P'Harcourt Refinery… Page 13 Wednesday 31 May, 2017 Vol 22. No 8076. Price: N250

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Buhari’s Wife, Aisha, Departs for London to Join Husband My relationship with president is cordial, says Saraki Omololu Ogunmade in Abuja and Segun James in Lagos Three weeks after President Muhammadu Buhari left Nigeria for the United Kingdom to undergo medical treatment, his wife, Aisha, yesterday left the shores of Nigeria to join her husband.

AFTER INITIAL REJECTION, PRIVATE SECTOR IS EASED BACK INTO GOVT… L-R: Chief Executive of Emzor Pharmaceuticals Limited, Mrs. Stella Okoli; Chairman, Nigerian Breweries Plc, Chief Kola Jamodu; Chairman of ANAP Business Jets Limited, Mr. Atedo Peterside; Chairman, Dangote Group, Alhaji Aliko Dangote; acting President Yemi Osinbajo; and Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, during the inauguration of the Nigeria Industrial Policy and Competitiveness Advisory Council at the Presidential Villa, Abuja… yesterday godwin omoigui

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Osinbajo Inaugurates Industrial Policy and Competitiveness Advisory Council Signs two new laws to ease access to affordable loans by SMEs Omololu Ogunmade and Olawale Ajimotokan in Abuja Acting President Yemi Osinbajo yesterday inaugurated the Nigeria Industrial Policy and Competitiveness Advisory Council, which will spearhead

the industrial agenda that will boost the contribution of manufacturing to the country’s Gross Domestic Product (GDP) by 250% over a five-year period.

The ambitious agenda will make Nigeria a manufacturing hub for West Africa and

diversify the economy from its over-dependence on oil.

The council is made up of leaders in the private and public sectors and will be chaired by Osinbajo, while the Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah and

President of Dangote Group, Alhaji Aliko Dangote will serve as vice-chairmen, representing the public and private sectors, respectively.

The alternate vice chairmen of the council are the Minister of State for Industry, Trade

and Investment, Ms. Aisha Abubakar and Chairman of ANAP Business Jets Limited, Mr. Atedo Peterside.

Other members of the council from the private sector include Mr. Kola Jamodu, Alhaji Abdulsamad Rabiu, Mr.

Innocent Ifediaso Chukwuma, Mr. Rahuk Savara, Mr. John Coumantarous, Mrs. Stella Okoli, Mr. Makul Mathur, Mr. Obi Ezeude, Mr. Fidelis Ayebea, Mr. Lazarus Angbazo Continued on page 9

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STARTERS

Donald Duke to Take Another Shot at Presidency Says Obasanjo was disconnected from realities as president Obinna Chima with agency report A former governor of Cross River State, Mr. Donald Duke, yesterday said he would still take another shot at the presidency, if the opportunity presented itself.

Duke spoke at a programme, “The Nigerian Symposium for Emerging Leaders,” held in Lagos.

He said though he once aspired to the position but did not emerge the candidate of the Peoples Democratic Party (PDP), he would still contest for the highest office in the country at the appropriate time.

Duke explained that it was because of his preference for the presidency that he did not vie for any federal legislative seat after serving out his terms as governor.

“I do not have the flair for the legislature; standing up and sitting down at the chambers to raise a point.

That was why I did not contest for the Senate but the presidency, after serving out my term as governor.

“I have contested the presidency before; I will still give it a shot when the opportunity presents itself. I believe I still have the energy in me,” he said.

The former governor canvassed for the reform of the country’s political system to accommodate wider participation and good governance.

He suggested the review of the electoral law to allow for independent candidacy.

Duke said the country’s democracy would fare better if young people, who form the larger portion of the population, took a more active part in its political process, reported the News Agency of Nigeria (NAN).

He said most developed countries have had young people as their leaders at one point or the other in their democratic history.

The former governor, however, said power was never given easily, urging young people to participate in the political process and use the prime of their lives to add value to the country.

“I want to urge young people in the country not to see leadership as if it

Duke belongs to some people and do nothing positive to be part of it.

“You can only make a difference in the prime of your life. You can actually add value now, not when you are above 50.

“So, you need to be part of the political process and play your part. It is your right to be there; nobody is doing you a favour.

“You represent more than 60 per cent of the population, you don’t have to beg for it.

“Just make the effort to make that change and contribute your quota to nation building,” he said.

Duke also took a swipe at former President Olusegun Obasanjo, saying as president, the latter was disconnected from reality.

The former governor, who urged his audience to always consider the age of those that presented themselves to serve, said: “Old people in government are usually disconnected from the realities on ground.”

Citing Obasanjo as example, Duke said the former president was disconnected from the economic and political realities of the country.

This, he said, made him (Obasanjo) to appoint his peers as ministers and advisers.

“There is a disconnect among old

people in government and the realities on the ground. Obasanjo, for example, was disconnected from reality.”

He said Nigerian youths must demand for representation in government rather than begging to be included.

“We must demand answers from our leaders. It is important that leaders remain accountable to the people. There should be consequences for every action, but in our system that is not the case.

“Our leaders are protected by immunity which has done more harm than good,” he added.

Duke urged governments at all levels to be accountable and challenged the governed to demand more from their leaders.

Also speaking, former Anambra State governor, Peter Obi decried the absence of transparency and accountability in government.

He said the situation was responsible for the level of corruption in the country and poor delivery of the dividends of democracy.

Obi said the way out of the quagmire was for leaders to carry the governed along in budgetary spending and plan for effective tracking.

“The way forward is that governments should make their budgets more explicit and they should be published. The plan and money to be spent on them should be clearly stated.

“That is when people can track and make comparative analyses with previous budgets and then we can achieve some transparency,” he said.

The former Anambra governor also asked Nigerians to show more interest in the budget so as to keep leaders on their toes.

Mr. Seun Onigbinde, Chief Executive Officer, BudgIT, an organisation with a focus on promoting accountability in public finances, further urged Nigerians to demand for accountability from their governments.

He also called on governments at all levels to always carry the people along in their budgetary proposals and implementation to achieve accountability.

OSINBAJO INAUGURATES INDUSTRIAL POLICY AND COMPETITIVENESS ADVISORY COUNCIL and Mrs. Juliet Anamah.

Others are Mrs. Kofo Akinkugbe, Alhaji Ado Mustapha, Alhaji Kamaldeen Yusuf, Alhaji Adamu Atta, Mr. Charles Abudu, Alhaju Ibrahim Salisu Buhari, Mr. Isiaku Tofa, Mr. Ade Ogundeyin and Dr. Frank Udemba Jacobs.

Public sector members of the council are the Ministers of Finance, Budget and National Planning, Agriculture and Rural Development, Power, Works and Housing, Transportation, Minister of State for Petroleum Resources, Ministers of Mines and Steel and Science Technology, as well as the Central Bank of Nigeria (CBN) Governor.

The council will also have a technical committee whose members are Dr. Yemi Dipeolu, Amb. Chiedu Osakwe, Mr. Waheed Olagunju, Mr. Olusegun Awolowo, Ms. Yewande Sadiku, Dr. Yemi Kale and Dr. Ayo Teriba.

The council’s secretariat shall be headed by a project coordinator from the Ministry of Industry, Trade and Investment, with support from a leading firm to drive implementation.

The secretariat will propose and develop the agenda items for the council’s deliberations and identify the necessary resources required to support its deliberations.

It will also synthesise the output from deliberations and conduct research, where necessary, to affirm proposals and produce reports and statements, as well as coordinate

the council’s interaction with public and private sector entities.

The broad terms of reference of the council is to provide input to the formulation of sectoral and industrial policy, and government interventions aimed at enhancing the performance of the Nigerian industrial sector.

In addition, the council will provide feedback on government policies and programmes that affect the industrial sector; make recommendations, propose initiatives and bring perspectives that promote competitiveness and growth of the Nigerian industrial sector.

It will also make inputs to Nigeria’s trade negotiations and agreements with a view to ensuring that the view of industry and industrialisation targets are taken into cognisance.

It is to also periodically review performance, trends and issues within the industrial sector, with a view to proposing interventions to enable investments and competitiveness.

Other terms of reference include proposing targets for national industrial output and investments across major industrial sectors; tracking the progress made on specific public and private sector initiatives aimed at transforming the industrial sector and meeting its industrialisation targets; and serving as ambassadors of the industrial sector and as a platform to facilitate communication on current and

emerging issues affecting industry, and ensuring regular interaction between government and stakeholders in the industrial sector.

In his remarks, Enelamah said the advisory council would expand the private sector as the leading driver of the economy, while Dangote said that the terms of reference set by government demonstrated the importance it has placed on interaction with the private sector.

The acting president said that he was excited with the opportunity to turn Nigeria’s industrial fortunes around, saying Nigeria would not emerge as an industrial force without setting out a clear and deliberate industrial policy.

He said with the assemblage of the team on the council, it was unlikely that Nigeria would ever get it right if the council failed to fly.

He was of the view that business should be left in the hands of the private sector, because government lacks the motivation and ability to run businesses and deliver on industrial objectives.

Osinbajo said that though Nigeria is blessed with an incredible amount of talent, it was yet to achieve its goals.

He said if the perennial issue of electricity is tackled, 40 per cent of the problem of industrialisation would be solved.

Continued on page 10

Two-Minute Briefing NEWS South-east Stands Still in

Memory of Biafra The sit-at-home order by the IPOB and MASSOB in commemoration of the 50th anniversary of the declaration of the independence of the ill-fated Republic of Biafra…

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EDITORIAL Passage Of Petroleum

Industry Governance Bill In a small but significant step geared towards repositioning the oil and gas sector in the country, the Senate lastThursday completed the passage of the governance component of the Petroleum Page 15

POLITICS Bello’s Voter Registration

Scandal But for immunity, the Kogi State governor, AlhajiYahya Bello, who was caught engaging in double registration during the Independent National Electoral Commission…

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FEATURES Death of the Diary

or most millennials, a day seems odd without a trip to social media, whether it is scrolling through their Facebook newsfeed, replying to a Direct Message on Twitter or posting a manipulated picture on Instagram.

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BUSINESS Senate C’ttee Commences

Processes to Stop Gas Flaring, Stipulates Stiffer Sanctions The Senate has commenced legislative processes aimed at prohibiting gas flaring and imposing stiffer penalties on defaulting oil and gas firms, as proposed by the Gas Flaring (Prohibition and Punishment) Bill 2017.

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CITYSTRINGS Boro: A Rebel’s Unfinished Business Recently, Bayelsa State stood still for Major Isaac Boro, who is celebrated annually by his folks as the hero who spearheaded the movement for the selfdetermination of the Ijaw nation.

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INTERNATIONAL Blasts Strike Baghdad Days into Ramadan, Killing 27 Two blasts ripped through the Iraqi capital of Baghdad just days into the holy month of Ramadan, killing at least 27 people and wounding more than 100.

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SPORTS Iheanacho Back in Eagles Camp, Osimhen to Miss Togo Clash Kelechi Iheanacho returned to Super Eagles training camp in Paris yesterday ahead of tomorrow’s international friendly with the Hawks ofTogo in the French capital.

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PAGE TEN BUHARI’S WIFE, AISHA, DEPARTS FOR LONDON TO JOIN HUSBAND Mrs. Buhari’s trip was announced by one of her acquaintances, Zaynab Ikazkassim on her twitter handle, @zaykassim yesterday.

According to the tweet, Mrs. Buhari will spend some time with her husband in London. “Her Excellency, Mrs. Aisha Buhari, today (yesterday) left for London. She will spend time with her husband, President Buhari who is presently on medical leave,� the tweet said.

But as Mrs. Buhari’s departure for London came to light, Senate President, Dr. Abubakar Bukola Saraki yesterday said that his relationship with the president has remained cordial, despite the false claims in some quarters.

He spoke when the National Executive of the Islamic group, Jamaatu Izalatul Bidiah Wa Ikamatus Sunnali (JIBWS) led by its president, Sheikh Mohammed Sani Yahaya Jingiri visited him at the National Assembly.

According to a statement by his Special Assistant, Print Media, Chuks Okocha the Senate President debunked allegations that he and the Senate were working against Buhari, saying: “I want to assure you of the good cooperation between the legislative arm and executive led by President Muhammudu Buhari. “Since the commencement of this Senate, I think we had about 196 requests from President Buhari for confirmation of his nominees and we have confirmed 185. I think we have only rejected 11. That is over 90 per cent of confirmations. “I want to assure you there is

a lot of noise that you will see on the newspaper, radio and the social media, but please be assured that the two arms of government are working closely together, more than in past sessions of the Senate. “In January, I went to see him and assured him of our cooperation and we’ve continued to work closely. I want to assure you as we always say, let us be judged by our actions and not by talk. “A lot of people talk, but do something else when you are not around and loyalty can be best measured by what people do when you are not around. “I want to appeal to you now that you are here, to convey the same message to your followers, because of the social media and the fake news that they hear over the radio. They get the wrong impression that we in the Senate, the Senate President and the senators are working against the president. “But I assure you that we have a very cordial relationship with the executive.�

Saraki also reaffirmed the commitment of the Senate in promoting good governance, economic stability and creation of jobs for unemployed youths and promised to ensure that all bills to be passed by the Senate will ensure that the religious sentiments of Nigerians are taken into consideration.

The Senate President told his visitors that the Gender Equality Bill currently before the National Assembly would be fair to all religious groups and sentiments.

He said: “I want to reassure you of our greatest concern,

particularly on the issue of the Gender Equality Bill. Here in the National Assembly, we pass laws and whatever law we pass, we take into consideration the religious aspects.�

According to Saraki, “The final version of the Gender Equality Bill will be such that all religious sentiments are taken care of and Nigerians would be proud of.�

Earlier, the leader of the Islamic group, Sheikh Jingirr commended the Senate President for his role leading to the rejection of the Muslim-Muslim presidential ticket of the All Progressives Congress (APC) in the 2015 presidential election.

He added that Nigeria was not ripe for such an arrangement which did not take into consideration the need for religious balance in the country, as all religious interests must be represented at all times, including during elections.

He added that religious balancing must at all times be respected in Nigeria, as this would ensure harmony.

The Islamic cleric also commended the National Assembly for rejecting the bill for the legalisation of same sex marriages and capital punishment, describing them as un-Islamic.

He also urged the Senate President to ensure that the current Gender Equality Bill reflects the tenets of all religions.

Fayose Asks Buhari to Resign Meanwhile, Ekiti State governor, Mr. Ayodele Fayose has challenged the president to

honourably resign if he truly loves the country and is an upright leader as he claims.

Fayose, who spoke yesterday at a press conference in Lagos, said progress was not being made in the country due to Buhari's illness and long absence.

The governor said it was not enough for Buhari to claim that he is morally upright when he cannot honourably resign due to ill health for the country to move forward.

He said the president’s refusal to resign due to his ill health was a dent on his integrity and was a setback for the country.

The governor wondered why the president was finding it difficult to step aside, knowing the hardship his illness was causing majority of Nigerians and the economy.

He said the president was allowing officials in his government to “perpetrate oppressive and corrupt actions� in his name due to his incapacitation, adding that this implied that he was allowing evil and corruption to thrive because he has refused to be morally upright.

He contended that the president’s refusal to step aside constituted a stumbling block for capable hands to run the affairs of the country, which in his estimation was deteriorating daily and showing signs of directionless.

Fayose wondered why a president who is fully aware of his ill health and knows that he cannot cope with the rigours of office, could not be honourable by resigning as expected of a morally upright person.

He asked: “How long will Nigerians wait for an incapacitated president as things get worse in our nation? “The worst form of corruption is moral corruption. It is worse than financial corruption, which the president claims to be fighting.

Financial corruption only comes from someone who is morally corrupt. “Not resigning and continuing to rule in his incapacitated state borders on his integrity.

Allowing others to perpetuate oppressive, corrupt actions and practices in his name because he is incapacitated certainly means he himself is allowing evil and corruption to thrive, because he has refused to be morally upright and pave the way for capable hands to run the affairs of our country, which is deteriorating daily and directionless.�

He stated that the president could only claim to be fighting financial corruption if he can purge himself of the moral corruption hovering over his head. “For a president who prides himself as an anti-corruption czar, an incorruptible man, why is he finding it difficult to be morally upright and resign, knowing the hardship his redundancy is causing the economy and the masses? “Not resigning and continuing to rule in his incapacitated state borders on his integrity,� Fayose said. “Today, Nigerians are hungry and angry as they live in poverty and hardship due to the incompetence and cluelessness of the Buhari-led administration.

Our country needs an able and hands on leader,� he said.

While cataloguing Buhari’s two years in office, Fayose said it was a misadventure for Nigerians, adding that the government was built on “deceit and propaganda�.

He added that the administration was autocratic, lawless, thrives on intimidation and harassment of perceived opposition figures.

The governor stated that power generation has been abysmal, leaving Nigerians in “unprecedented darkness�.

He also berated the government for the incessant killings in the country, occasioned by Fulani herdsmen attacks, adding, “It was highest in the history of the country.�

The governor stressed that the president leads a “government of failed promises, deceit and propaganda�, adding that it was characterised by “autocratic and human rights abuses, disregard for the rule of law, court orders and the constitution�.

He accused the president of thriving in the “intimidation and harassment of perceived opposition figures within and without� while advancing acts of corruption by “shielding elements in government circles� even as he engages in nepotism and lopsided appointments.

Fayose gave the president a very low mark in the area of security and pointedly accused the government of stage-managing the rescue of the Chibok girls, even as he pointed out the non-responsiveness of the president to the activities of cattle herdsmen.

for driving private sector development.

However, in Nigeria, more than 70 per cent of companies, typically MSMEs, have limited or no access to credit.

Credit applications usually get rejected due to insufficient credit history, and information for the lender to use to make a reasonable judgment, as well

as unacceptable collateral.

The passage of the Acts would facilitate the achievement of the goals of the Presidential Enabling Business Environment Council (PEBEC) set up

by President Muhammadu Buhari in July 2016 and chaired by Osinbajo to progressively make Nigeria an easier place for businesses to start and thrive.

platforms.

Meanwhile, the CBN Governor, Mr. Godwin Emefiele, has called on stakeholders to ensure that the Cybercrime Act is effectively enforced, to serve as a deterrent and constant reminder to those who may wish to engage in illicit activities targeting the financial technology infrastructure. “It is now about two years into the commencement of the Act, and so it is not too early to conduct a holistic review of its implementation, hence the theme of this workshop: “Tackling Enforcement Challenges under the Cybercrime Act.�

He noted that as the regulator of the financial sector, the CBN is constantly confronted with issues raised by operators who occupy the unenviable position of first line of defence against cyber attacks on the systems, networks and infrastructure through which financial services are carried out in the country. “While the issue about cyber security is not wholly legal in nature, and while considerable efforts have been made by the CBN and banking operators, especially through the Bankers’

Committee and other bodies, leading to reduced incidents of fraud on the one hand, and very high consumer confidence in our payment system on the other, we are nevertheless desirous that the Cybercrime Act is effectively enforced, to serve as a deterrent and constant reminder to those who may wish to engage in illicit activities targeting our financial technology infrastructures,� he said.

OSINBAJO INAUGURATES INDUSTRIAL POLICY AND COMPETITIVENESS ADVISORY COUNCIL Also, Osinabjo yesterday signed into law two bills passed by the National Assembly that will ultimately facilitate access to affordable credit for Nigerians.

The new laws are the Secured Transactions in Movable Assets Act (otherwise known as the Collateral Registry Act) and the Credit Reporting Act. The Collateral Registry

Act would ensure that Micro, Small and Medium Enterprises (MSMEs) in Nigeria can register their movable assets such as motor vehicles, equipment and accounts receivable in the National Collateral Registry, and use same as collateral for accessing loans.

This in turn will improve their chances of accessing loans and tackle one of

the major obstacles faced by small businesses in the country.

The Credit Reporting Act provides for credit information sharing between credit bureaus and lenders, as well as other institutions that provide services on credit such as telecommunication companies and retailers.

A Credit Bureau is a company that collects

information relating to the credit ratings of individuals and makes it available to financial institutions that need such information to determine an individual’s credit-worthiness and whether or not to grant loan applications to such individuals.

Access to credit is critical to economic growth and is considered to be the motor

23 BANKS GOT N28.7BN INFLOWS FROM DUBIOUS MMM TRANSACTIONS In the case of the budget of the education ministry, the National Assembly passed a provision of N398.70 billion for recurrent spending and N56.72 billion for capital expenditure for the year.

The report disclosed that by the time the scheme “crashed� on December 13, 2016, over N11.9 billion had been lost by gullible subscribers.

The NeFF report, which was unveiled in Abuja yesterday at a stakeholders workshop on cybercrime, organised by the Central Bank of Nigeria (CBN), disclosed that since the MMM scheme had a 30-day cycle before return-on-investment (RoI) was realised, everyone who put money into it after November 12, 2016 did not get their money out. “No fewer than 23 banks received inflows amounting to N28.7 billion executed in 460,000 transactions through the MMM Ponzi scheme. The amount put into the scheme between November 13th and December 15th 2016 (through interbank transactions) totals over NGN11.9bn. This amount was largely not recovered. “To put this amount into perspective, the 2017 budget for

Defence Headquarters is N4.7 billion. This implies that the amount transferred by Nigerians under the MMM Ponzi scheme would have funded the Nigerian Defence HQ almost six times over. “Majority of the transfers made by customers of banks that participated in the MMM Ponzi scheme were made through the account-to-account transfer platform. “This was followed by the mobile channel, and lastly, through the web channels of other transfer platforms in the industry,� the report said.

It added that 34 financial institutions paid out money for investments into the MMM Nigeria Ponzi scheme, adding that the customers included those of commercial banks, mobile payment operators as well as mortgage banks. “By the side are the amounts, in terms of volume and value for each financial institution that money was paid out from.

Fewer banks received inflows of MMM transactions than the number of banks from which outflows occurred,� the NeFF report stressed.

It also stated that MMM followed the usual pattern of Ponzi schemes, pointing out that “they continue to build momentum and crash when the maximum amounts are already invested in the scheme�.

The NeFF report added that the peak of the MMM investment was in November 2016, when over N13 billion was transferred among the participants, pointing out that the CBN had in the middle of 2016 warned about the dangers of the scheme.

In a related development, the volume of fraud reported in 2016 indicated an 82 per cent increase in reported cases, with an estimated N2.19 billion losses.

The NeFF 2016 annual report titled, “A Changing Payments Ecosystem: The Security,� said the financial industry recorded an 82 per cent rise when compared to 2015 and over 1,200 per cent rise when juxtaposed with the situation in 2014.

According to the report, despite the 82 per cent increase in reported fraud cases, the industry was able to reduce fraud by 2.7 per cent when compared to the 2015 figure. “Comparing the attempted

fraud against the actual losses, the industry was able to salvage 49.7 per cent of the total amount attempted by these fraudsters within the year. “These figures informed us that there are more attempts on a yearly basis with different innovation tricks or modus operandi to take advantage of the system,� the NeFF report said.

The report also noted that 2016 witnessed a significant transaction increase across all payment channels in both volume and value in spite of the economic recession. “In contrast with 2015, there was a 71.43 per cent spike in the volume of transactions processed through the NCS (Nigeria Central Switch),� it said.

In his address at the unveiling of the NeFF 2016 annual report, CBN’s Director, Banking and Payments System and NeFF Chairman, Mr. Dipo Fatokun, stated that the Nigeria Interbank Settlement System (NIBSS) report of the Nigeria fraud landscape for 2016 indicated that fraud cases grew by 82 per cent over the 2015 figures, attributing the trend to the increased usage of new payment

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NEWS

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

South-east Stands Still in Memory of Biafra Partial compliance recorded in Delta, Rivers, Bayelsa States, Igbo traders in Lagos open for business

The sit-at-home order by the Indigenous People of Biafra (IPOB) and Movement for the Actualisation of Sovereign State of Biafra (MASSOB) in commemoration of the 50th anniversary of the declaration of the independence of the ill-fated Republic of Biafra, recorded full compliance in all states of the South-east, except in Ebonyi where partial compliance was recorded.

Similarly, partial compliance was recorded in Port Harcourt and Asaba in Rivers and Delta States, respectively, even as shops belonging to Igbo traders at Alaba market, the Trade Fair complex, and in Ikeja, Lagos, remained open for business yesterday.

In Enugu, the pro-Biafra groups had in a statement by the MASSOB Director of Information, Edeson Samuel, said the order to all the states of the South east zone as well as Delta and River States was in honour of the late Chief Odumegwu Ojukwu, who had led the Biafra secessionist bid in 1967, and all the Biafran soldiers who died during Nigerian Civil War. The Nigerian Civil War was fought between the Nigerian government and secessionist State of Biafra between 1967 and 1970.

Biafra represented nationalist aspirations of the Igbo people, whose leadership felt they could no longer coexist with the Northerndominated federal government.

The conflict resulted from political, economic, ethnic, cultural and religious tensions, which preceded Britain’s formal decolonisation of Nigeria from 1960 to 1963.

Immediate causes of the war in 1966 included a military coup, a counter-coup, and persecution of Igbo living in Northern Nigeria.

Control over oil production in the Niger Delta also played a vital strategic role.

In commemoration of the declaration of the republic, Enugu residents stayed indoors in compliance with the order yesterday.

Between 6 a.m. and 11 a.m., the town was like a ghost town, as all major roads were deserted.

However, a handful of vehicles started trickling on to the roads by midday.

The ever-busy Agbani road, Ogui road, Bisala road, Lagos street, presidential road and old park in Enugu, the state capital, were totally deserted as commuters kept off the roads.

Apart from transporters, major markets, especially Ogbete, Kenyata, Artisan and New market, all within the metropolis were also deserted.

While the gate of Ogbete market was open, all the shops were under lock and key.

Major shopping malls, including Roban Store, were equally closed.

Similarly, bank branches were shutdown earlier in the day, but owing to the conspicuous presence of security operatives, most of them commenced operations, albeit skeletally.

Public schools within the city were opened but students were nowhere to be found, while most filling stations did not open for business.

At the state secretariat, beside the state police command, a handful of workers were seen at their duty posts, however, most stayed at home.

A director in one of the ministries, who spoke on the condition of anonymity, said most workers failed to make it to work because of their inability to get public transportation.

When contacted, the Police Public Relations Officer in Enugu State, Superintendent of Police Ebere Amaraizu, said there was no compliance in the state with sit-at-home order, adding that there was vehicular movement and the banks had opened for business.

“You can see there was no compliance in the state. Everything is moving on well. If some people decide to shut down their business and stay at home, it is there business. We are not going to force them to come out.

“What is important is that we have assured people of their security and we are up to the task. We are very much okay here,” he said.

In Abia State, residents of its two major cities Umuahia and Aba complied in different degrees to the directive.

Umuahia was partially shut down as most shops and commercial outfits were closed while a handful of commercial vehicles, especially tricycles were seen plying the streets. At the popular Enugu and Aba roads very few shop owners opened for business, while commercial banks offered skeletal services as customers who braved the tenses atmosphere to visit the banks were admitted through the back door.

It was apparent that there was palpable fear among the banks of possible outbreaks of violence, hence, some of them chose not to open for business at all.

Schools were also open but the number of students and pupils that went to school was a far cry from what obtained on a normal school day.

Teachers who turned up for classes found out that most of the pupils did not turn up for school.

“I think it is the fault of parents who chose to keep their children at home for fear of the unknown,” said Mrs. Theresa Ezechi a school

teacher in one of the public schools in the city.

She told THISDSAY that due to past, when violence erupted between police and Biafra agitators, no parent was willing to take chances by assuming that yesterday was going to be peaceful.

At the state secretariat, civil servants were seen at their offices having turned up for work in order not to offend their employer, the state government, which did not support the IPOB directive.

Unlike Umuahia, where there was partial observance of the sit-at-home directive, there was total compliance in Aba, as the commercial nerve centre of Abia State was completely shut down.

All the markets, shops, banks, motor parks and schools were closed, rendering the city a complete ghost town.

The state Commissioner of Police, Mr. Leye Oyebade who used a chopper to monitor the situation found to his consternation that IPOB had scored very high marks in getting the people to obey its directive and ignore the police.

Oyebade had in an announcement urged Abia residents to ignore IPOB and go about their normal business assuring them that the police would be there to protect them if harassed by the Biafra activists.

Residents of major towns and villages in Anambra States also refused to heed police assurances for them to go about their daily business, as they locked shops and markets to observe the sit-at-home protest order.

Markets in all the major towns of Awka, Nnewi and Onitsha were under lock and key, while commercial banks failed to open for business, resulting in long queues at ATMs in bank premises.

Schools were not also left out as kids whose parents had dropped them off were asked to return and pick them. Transporters also refused to load buses to various destinations, leaving passengers stranded.

The state secretariat in Awka, the Anambra capital, was also deserted when THISDAY visited.

In Onitsha, the popular Upper Iweka bus park, which is normally busy round the clock, was a ghost of its former self, as no person or vehicle was seen at the bus park.

A resident of the town, Mr, Toochukwu Adaenu, a vulcanizer told THISDAY that the sit-at-home protest was more of a celebration than the mourning of Biafra fallen heroes.

“We need to do this for the government to see how ready we are to leave Nigeria. We support this sit-at-home order and will be ready to do so again if we are called

TOTAL COMPLIANCE

Deserted River Niger Bride in Onitsha in compliance with the sit-at-home order by pro-Biafra groups.... yesterday upon,” he said.

In major cities in Imo State and its hinterland, activities were equally paralysed in compliance with the sit-at-home order.

There was total paralysis in Owerri, the Imo State capital, Okigwe, Orlu and Mbaise, as major markets, schools, commercial banks and shopping malls shut their doors to customers.

Similarly, there was no vehicular movement on the major roads of Owerri like Bank road, Tetlow road, MCC, Okigwe and Douglas roads, rendering the few commuters who needed public transportation, stranded.

One commuter, Mrs. Oluchi Uchenwa said she arrive Owerri as early as 7 a.m. yesterday to travel to Port Harcourt, but could not get a vehicle due to the sit-at-home order by IPOB. At the state secretariat, some civil servants who reported at work said that they did so because of the threat

of sack by the state government.

According to a staff of the Ministry of Finance who did not want to be named, “I have to report to work because the Head of Service, through a circular, had threatened to sack any civil servant who refuses to report to work and so we had to come to work. But as you can see, nothing is happening here. We are just idle.”

Similarly, at Comprehensive Secondary School Amakohia Uratta, and Girls Secondary School Akwakuma, St Mark’s Anglican School Amakohia among others, there were no students sighted within the school premises, except a few teachers.

The Leader of Biafra Independence Movement (BIM), Chief Ralph Uwazuruike commended the people of the state for observing the order, adding that the BIM had earlier issued a directive that from May 26 to 30 Igbos all over the world would

observe the sit-at-home.

According to Uwazuruike, it was a successful outing for his group.

In Asaba, the Delta State capital, partial compliance to the stay at home order was achieved, as many businesses closed shop yesterday.

Although the Delta State Government had repeatedly stated that the state was not part of the agitation for an independent or sovereign state of Biafra, the fact that Asaba is contiguous with the South-east, particularly Onitsha in Anambra State, has often seen pro-Biafra activities spilling into the city and a few other paces in Delta North.

As a result, practically all primary and secondary schools in Asaba did not open.

THISDAY checks revealed that most parents and guardians prevented their children and wards from going to school for fear of

Describing this as a significant achievement vis-à-vis the convergence, Emefiele noted that the monetary authorities would however prefer a convergence that would head southwards rather than northwards.

“We would prefer a convergence that will significantly head southwards, than a convergence that will go northwards. The fact that we have seen a convergence in the southward direction gives us a lot of hope that things are working in the right direction,”

he said.

On how far the CBN would go in sustaining its market interventions, he had said: “I have said it and I will repeat myself that the interventions will be more vigorous than before to underscore the fact that we are determined to ensure that the Nigerian economy recovers, by making sure that foreign exchange is being made available to operators of the economy to conduct their businesses.”

Cont’d on pg 61

CBN Pumps $482.6m into Forex Market Obinna Chima The Central Bank of Nigeria (CBN) yesterday sustained its intervention in the inter-bank segment of the foreign exchange (forex) market by injecting a total of $482.6 million into the market.

This, the bank said underlined its determination to protect the value of the naira.

A breakdown of the intervention indicated that the retail Secondary Market Intervention Sales (SMIS) was allocated the sum of

$285,779,350, while $100 million was offered in the Wholesale SMIS auction window.

In addition, the Small, Medium and Enterprises (SMEs) window got an allocation of $52 million, while the invisibles segment, comprising Basic Travel Allowance (BTA), Personal Travel Allowance, medicals and tuition fees, among others, was allocated the sum of $45 million.

According to the Acting Director, Corporate Communications at the CBN, Isaac Okorafor, the

interventions were in line with the bank’s resolve, echoed by its Governor, Godwin Emefiele, at last week’s briefing of the Monetary Policy Committee (MPC) meeting.

While expressing pleasure that the intervention of the Bank had ensured stability across all segments of the forex market, Okorafor expressed optimism that the central bank’s objective of exchange rate convergence would be achieved soon.

Okorafor therefore reiterated his call to all stakeholders to play

their respective roles in ensuring a smooth running of the foreign exchange market for the overall benefit of the economy.

Meanwhile, surveys in Abuja, Lagos, Kano and Port-Harcourt yesterday indicated that the naira traded between the range of N375381 to the dollar.

Emefiele had last week recalled that about three months ago, the local currency was trading at above N500 to the dollar on the parallel market, but has appreciated to between N370 and N375/$.

WEDNESDAY MAY 31, 2017 ˾ T H I S D AY

13

NEWS

Senate Seeks to Halt Planned Concession of P’Harcourt Refinery Damilola Oyedele in Abuja The Senate yesterday directed the Ministry of Petroleum Resources, and the Minister, Dr. Ibe Kachikwu, to immediately stop all processes relating to the planned concession of the Port Harcourt Refinery to Agip and OANDO Plc. This is as the legislative chamber set up an ad hoc committee to carry out a holistic investigation to determine how and why

such a deal was sealed and the criteria used to select Agip/ENI and OANDO Plc to maintain and operate the Port Harcourt Refinery, and at what cost and time frame.

The Senate ordered that the processes for the concession be halted pending the outcome of the investigation of the committee chaired by Senator Abubakar Kyari (Borno North).

The resolution followed a motion sponsored by Senator

Oil Prices Fall on Oversupply Worries Despite OPEC Deal Ejiofor Alike with agency reports Oil prices fell more than one per cent yesterday amid signs of a resurgence in Libya’s output and on concerns that extended production cuts by the world’s top exporters may not be enough to drain a global glut that has depressed prices for almost three years.

Global benchmark, Brent crude fell 87 cents, or 1.7 per cent, to $51.42 a barrel, while US light crude was 59 cents, or 1.2 per cent, lower at $49.21.

Reuters reported that Libya’s oil production was at 784,000 barrels per day (bpd) because of a technical issue at the Sharara field, but was expected to start rising to 800,000 bpd yesterday, the chief of the staterun National Oil Corporation said.

OPEC and other oil producers, including Russia agreed last week to extend supply cuts by nine months, until the end of the first quarter of 2018.

Collective output by OPEC and other producers will be held around 1.8 million barrels per day (bpd) below its level at the end of last year.

But the cutbacks have yet to drain inventories significantly and prices fell sharply after the OPEC deal was announced.

Part of the problem for OPEC is oil supply in the United States, where shale production is booming.

US drillers have added rigs for 19 straight weeks to reach 722, the highest since April 2015, according to services firm Baker Hughes.

Some selling pressure yesterday also came from banks, traders and brokers said.

Goldman Sachs analysts have reduced their forecasts for oil prices, saying falling US production costs will keep supply rising for years to come.

The bank said that once OPEC’s production growth resumes after its self-imposed cuts, US and OPEC output would rise by one million to 1.3 million bpd between 2018 and 2020.

“While we are bullish on near-term prices as inventories normalise ... 2018-19 futures need to be in the $45-$50 range,” Goldman reportedly said.

The American summer driving season, which by tradition started on the Memorial Day holiday on Monday, may offer some support for prices, Reuters quoted analysts as saying.

The American Automobile Association said ahead of Memorial Day that it expected 39.3 million Americans each to travel 50 miles (80 km) or more away from their homes over the

Memorial Day weekend, the highest Memorial Day mileage since 2005.

Sabo Mohammed (Jigawa South) who noted that the government recently entered an agreement with Nigerian Agip Oil Company (NAOC), a subsidiary of ENI, an Italian oil giant to construct a $15 billion refinery in the Niger Delta area.

The deal also includes investment by Agip in a power plant with the Italian company assisting Nigeria in the repairs of the Port Harcourt Refinery, the senator added.

“Notes that the Minister of State for Petroleum Resources stated that the agreement was part of a broader federal government plan to increase capacity for local production and consumption of petroleum products with the aim of ending fuel importation in Nigeria by 2019;”

“Also notes that while the resolve by the federal government to increase local refining capacity is laudable and should be applauded by all Nigerians, the observance of corporate governance principles and the country’s extant laws must be followed to the letter,” he added.

Mohammed expressed concern at the lack of clarity of the agreement, as to whether it is a concession or an agreement to build a new refinery.

“The confusion became obvious following the disclosure on May 11, 2017, by the Chief Executive Officer of OANDO Plc on the floor of the Nigeria Stock Exchange that the group had received approval of the federal government to repair, operate and maintain the Port Harcourt

Refinery Company with their partner Agip,” he added.

Mohammed stated that while the development would have been wonderful because it would mean an end to importation of refined products by the year 2020, there are many questions begging for answers.

“Is it Agip/ENI or OANDO Plc that is taking over Port Harcourt Refinery? Was there the observance of the privatisation law as regards due diligence, selection from preferred bidders before ceding of the Port Harcourt Refinery to Agip/OANDO?” “Also concerned that the planned concession of Port Harcourt Refinery to Agip/ENI in partnership with OANDO Plc without recourse to due process is illegal and a clear attempt at

ridiculing Nigerians and would definitely create a big hole that would be hard to fill in the anticorruption crusade of the present administration,” he said.

Mohammed added that in such transactions, the best practice is to select partners through open and competitive bids, i.e. prepare the business for sale, market the business, buyers selection and close the transaction.

The transaction is also unknown to the Bureau for Public Enterprises, the senator added.

Other members of the seven man committee include Senator Matthew Uroghide (Edo South), Senator Dino Melaye (Kogi West) Senator Aliyu Wamakko (Sokoto North), Senator Duro Faseyi (Ekiti North) and Senator Benjamin Uwajumogu (Imo North).

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T H I S D AY WEDNESDAY MAY 31, 2017

COMMENT

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

BIAFRA AT 50 (1)

The symptoms that led to Biafra are still all pervasive, writes Sonnie Ekwowusi

T

he 50th anniversary of the declaration of Biafra was marked yesterday. Among the events marking the anniversary was a national Conference on the Biafran revolution. The conference took place last Thursday at the Shehu Musa Yar’ Adua Centre, Abuja. It was the first national Conference on the Biafran revolution. The theme of the conference was: “Memory & National Building. Biafra: 50 years after… a sober reflection.” The conference was sponsored by the Shehu Musa Yar’ Adua Foundation with the support of the Ford Foundation and the Open Society Initiative for West Africa (OSIWA). The objective of the conference, for me, was to reflect on how Nigeria’s faulty start blossomed into monstrous injustices and oppression which led to the declaration of Biafra, and, how 50 years after Biafra, Nigeria is still battling those injustices and oppression.

Despite the conscious efforts to erase Biafra from our collective memories, Biafra continues to occupy our spaces. Who could have imagined that 50 years after the defeat of Biafra, the Nigerian political class and intelligentsia would be sitting down somewhere and discussing Biafra and the lessons Biafra hold for us in Nigeria?

Who would have thought that young Nigerian literary talents who were not even born during the Nigerian Civil War can become adept at weaving their great literary works around Biafra and the Biafran revolution? To venture into answering these questions, Biafra is simply a metaphor for the political imbalances and socio-economic and political injustices in Nigeria. Biafra clearly transcends its past and present protagonists and prosecutors. Once at a public gathering at the Tafawa Balewa Square, Lagos, Dr. Tunji Braithwaite stated that Biafra declarant Emeka Odimegwu-Ojukwu did not declare war against his fatherland but declared war against corruption and injustice in Nigeria. In other words, Biafra is neither secession nor rebellion nor something invented by one Nnamdi Kanu to promote disaffection and fan the ember of disunity in Nigeria. Biafra symbolises the suffering and the oppressed people of Nigeria who are yearning for freedom and justice. Biafra perennially questions our failed federalism, the social and political imbalances, inequalities and injustices and the skewed political appointments in Nigeria.

That is why the Biafran revolution will continue to be relevant in Nigerian politics and in the study of the Nigerian political culture.

Emeka Ojukwu was prophetic when he wrote in his article with the title: “On Nigeria and the Revolution,” that the Biafran revolution is a continuing process. By this he meant that the revolution is not necessarily a revolution that has to do with clashing of arms but one that is in the minds and hearts of many people. Every nation derives meaning and purpose from radical change in principles, opinions, sentiments and affections that augur well for the well being of the people. That is why after 50 years, Nigerians are still reminiscing in search of meaning and purpose in the Biafran revolution. At the national conference last Thursday, Chief Dubem Onyia opined that Nigerians should be allowed to memorialise the war without security clampdown on them. Government, in addition, should set aside a day to memorialise the war so that

BIAFRA SYMBOLISES THE SUFFERING AND THE OPPRESSED PEOPLE OF NIGERIA WHO ARE YEARNING FOR FREEDOM AND JUSTICE

different Nigerians would come to terms with what happened during the war so that the spirit of Ozoemena (may another war not break out again) will be better lived. Ohaneze Ndigbo leader Chief John Nnia Nwodo stressed the need to acknowledge that so much blood was spilled during the civil war. Midway in his speech, he requested all to stand up to observe a minute silence for those who were murdered during the civil war. He regretted that reconciliation, reconstruction, and rehabilitation ended up being a convenient post-civil war catchphrase without any fruits resulting from it. He regretted that at the end of the civil war every bank deposit of any Biafran was reduced to 20 pounds.

Besides, the indigenisation decree obviously robbed Igbos of their property after the war. Generally, Nwodo observed that Nigeria is dying. He said that Nigeria is not working for lack of consensus on how Nigeria should be governed. “We have a federal government which ought to be owned by all Nigerians but which unfortunately is now owned by a few individuals. We don’t want a Nigerian owned by people from one part of the country. We want a working federalism”, he said.

Earlier in his keynote address with the title: “Greater together than apart,” Acting President Yemi Osinbajo, SAN said that our frustration should not be transmuted into hatred. We are greater together than apart. Our frustrations should not drive us mad. We have forged many friendships across board. Debates should be encouraged on how we can exist together. We cannot forget the past. Chinua Achebe said in his book that a man who cannot tell where the rain started beating him cannot know where he dried his body. Every new generation can take a new direction than its predecessor. We cannot allow the prejudices of the past to hold us captive,” Osinbajo said.

In his comical and amusing speech, Chief Olusegun Obasanjo, GCFR stated that Nigeria went into the war at the outset to reconcile and reunite the estranged Biafrans into one Nigeria.

“We thought we would end the war in three months but it took us 30 months and the federal side nearly lost it,” Obasanjo said. Obasanjo, you will recall, received the instrument of Biafra surrender from Phillip Effiong at the house of Chief Banjamin Obijiofor Atuchukwu (The house ought to be called the Centre for Peace and Reconciliation House) in Amichi, Nnewi-South Local Government Area, Anambra State in 1970. He said that the Nigerian soldiers protected the civilians and civilian targets during the war. “We wanted to recapture Owerri but I could not put any artillery in Owerri. We had to protect civilians. Whenever we saw civilians we protected them”, he said.

Immediately Obasanjo finished speaking, conference moderator Prof. Pat Utomi regretted that the Nigerian side did not protect the Biafran civilians during the war. He reminded Obasanjo about the Asaba civilian massacre in which he (Utomi) was almost killed. He said that the Nigerian soldiers had finished lining them up them for execution when a God-sent person suddenly appeared from nowhere and rescued him.

NEW ERA FOR TELECOM CONSUMERS

Nwobodo Chidiebere writes that patchy services of network providers are being redressed

T

he story of the Nigerian telecommunication sector has been a successful one, ever since the berthing of GSM in the nation’s economic shores.

Nigeria’s economy blossomed: jobs and wealth were created as a result of the positive impact of telecom industry. But these successes cannot be said to come without its attendant shortcomings. Before now, Nigerian telecom consumers were left in the cold. The lingering issues of unsolicited messages, drop calls, poor network service, etc., have been the bane of telecom consumers in the country until recently when the Nigerian Communications Commission (NCC) intervened, majorly to save the situation once and for all.

The launch of Nigerian Telecoms Consumers’ Year, 2017, by the regulatory agency—the NCC, came as breath of fresh air to telecom subscribers in the country. The Nigerian Telecoms Consumer Year project was conceived and designed by the NCC to focus on the challenges being faced by consumers in Nigeria and how to tackle them. The project was officially flagged off in Abuja on March 15, 2017, at the commission’s headquarters, followed by Lagos State on May 17, 2017. The aim of devoting 2017 as Nigerian Telecoms Consumers’ Year in the words of the NCC’s Executive Vice Chairman, Prof. Garba Danbatta:“to amplify the year’s activities towards ensuring that the consumer enjoys a customer experience that is enhanced and consistent in time and quality. In 2017, and even beyond, the consumer will be our focus. NCC intends to inform and educate the consumer with the sole intent of protecting and empowering them to make right decisions.”

If there is time Nigerians should believe government policy, it is now. The momentum, at which the NCC is pushing its campaign to sensitise telecom consumers on its willingness to protect the interests and advocates better services for subscribers has eroded any iota of doubt that it is ready to match its words with actions. The choice of Lagos State as second city to flag off the telecom consumer year initiative, was not an accidental but strategic in the commission’s quest to reach out to telecommunication subscribers as fast as possible. The focus of the Nigerian Telecom Consumer Year project was not meant to protect the consumers’ interests alone, but drum it into their consciousness of their inherent rights and privileges, as one of the major stakeholders in the telecom sector.

Lagos State, apart from being the economic capital of Nigeria, has all the necessary stakeholders needed by the NCC to make this campaign a success. Lagos State being the replica and combination of United States’ Silicon Valley and Wall Street, it serves as the headquarters for most of the Mobile Network Operators (MNOs), Internet Service Providers (ISPs), financial institutions, Nigerian media, big and small scale businesses and millions of active subscribers.

So, there is no other better place to launch the campaign after Abuja—being the seat of government activities, than Lagos. The Centre of Excellence, being the unofficial headquarters of Nigerian print media, is well positioned to serve as the take-off base in the telecom consumer year initiative, knowing the place of the media in sensitising the telecom populace.

According to Prof. Garba Danbatta, who quoted the Nigerian Bureau of Statistics, in the first quarter of 2016, Lagos voice subscriber base stood at 19.04

million, representing 12.8% of the country’s subscribers. In the same quarter, Lagos State accounted for 12.62 million internet subscription or 13.65 per cent in the country. “The state is a home to many of the key players in the telecommunications sector, so it is understandable that it has been selected as the flag off city, after the major event in Abuja.”

On the telecoms consumer, “The NCC 2017 Year of the Nigerian Telecom Consumer is remarkable because the consumer is centre stage. We must also remember that these consumers together have made all the success stories we speak about possible in the telecom industry today. The rates at which consumers receive telemarketing and unwanted messages from mobile network operators and internet service providers would reduce drastically, as consumers can now activate Do-Not-Disturb short code using the 2442 toll and forwarding unresolved complaints to NCC using 622 toll-free lines,” Prof. Danbatta said.

Speaking in the same vein, the Executive Commissioner (Stakeholder Management) Mr Sunday Dare was quoted as saying: “It (the year) was significant because it was the first time the NCC will single out the consumer and dedicate a year of activities towards safeguarding the rights, protecting the interests, and empowering the consumer to make informed decisions—but above all, to place the consumer atop the stakeholder ladder of the NCC. The telecoms consumer is one of the key stakeholders in the stakeholder ladder of the commission.

With a base of over 154 million subscribers, the Nigerian consumers dominate the African telecommunications landscape.”

The good news is that the Nigerian Telecom Consumer Year project has begun to yield desired

results. It is encouraging that barely two months after the national campaign was flagged off, there have been progress report in the activation of the ‘Do-Not-Disturb’ short code using designated 2442 facility. More than one million telecom consumers activated the code since the launch of this exercise while more subscribers reported their unresolved complaints using the NCC’s 622 toll-lines in the same period. Indeed, with the assistant of this code, I have been able to stop all the unwanted messages that hitherto plagued my lines. Furthermore, robotic calls that used to bombard my phones—mostly during the odd hours of the day - have become history courtesy of these designated codes provided by the regulatory commission.

The two months of implementation of this telecom consumer project, can be adjudged a huge success going by the gains recorded so far. The era of crass impunity of MNOs and ISP has come to an end and new season when telecom subscribers will be treated as kings and queens, is gradually emerging. Nigerian telecom consumers will no longer be at the mercy of MNOs henceforth.

In 2016, it was stated that telecom consumers in the country spent a whopping sum of $6.6 billion on telecommunication services. It will be inhuman and unprofessional on the side of MNOs not to reciprocate with improved quality of services. One of the mandates of the NCC is to make sure that telecom services rendered to subscribers will be commensurate with the bills they pay. Nigerian telecom consumers should seize this opportunity provided by the commission to resolve all the challenges they face in utilising telecom services.

Chidiebere wrote from Abuja

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EDITORIAL PASSAGE OF PETROLEUM INDUSTRY GOVERNANCE BILL It is a significant step in the right direction

I

n a small but signiďŹ cant step geared towards repositioning the oil and gas sector in the country, the Senate last Thursday completed the passage of the governance component of the Petroleum Industry Bill. With a new structure that takes the oil industry assets and control from the Nigerian National Petroleum Corporation (NNPC), the passed bill, if and when it eventually becomes law, will achieve the strategic objective of freeing the oil industry from the stranglehold of a perennially corrupt machinery of government.

However, against the background that the Seventh Assembly of the House of Representatives also passed a variant of the PIB that lapsed because there was no concurrence by the Senate, it may be too early to crow about the passed bill. Besides, the Petroleum Industry Governance Bill (PGIB) is just one of the ďŹ ve bills proposed by the National Assembly after 17 years of tinkering with several drafts, which means that there is still a long way to go before there are laws governing every aspect of the oil and gas industry in Nigeria.

The PGIB passed THE PIGB WILL HELP by the Senate STRENGTHEN THE scrapped the NNPC, INSTITUTIONAL AND the Department of GOVERNANCE STRUCTURE Petroleum Resources OF THE PETROLEUM (DPR), the Petroleum INDUSTRY Products Pricing and Regulatory Agency (PPPRA) as well as several government agencies in the oil sector while creating new entities to oversee activities in the sector. These new entities are the National Petroleum Company (NPC), the National Petroleum Assets Management Commission (NPAMC) and the National Petroleum Regulatory Commission (NPRC). Under the new governance structure, the NPC would operate as a proďŹ t-driven commercial entity while the NPAMC would be a single petroleum regulatory commission, with a clear mandate to oversee the sector.

The passed bill also saddles the commission with

Letters to the Editor

the responsibility for health and safety regulations in the industry and would collaborate with the Ministry of Environment on environmental issues.

The commission is expected to be funded through the retention of 10 per cent of the revenue it generates though the expenditure is subject to appropriation by the National Assembly. Meanwhile, the NPRC will replace and take over the functions of the PPPRA and DPR when the PIGB ďŹ nally becomes law.

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here is no doubt that the PIGB will help strengthen the institutional and governance structure of the petroleum industry with the promotion of transparency and accountability.

But there are still pertinent questions that need to be addressed: Will the PGIB, as passed by the Senate, help to address fundamental questions that will lead to the creation and expansion of national wealth or is it another elite tinkering with formula for sharing extractive resources? Has it taken care of all the problems that inhibit growth in the sector? Will it be acceptable to the other tiers of government i.e. states and local governments that also have stakes in the sector? Have all the governance issues in the oil and gas sector been addressed?

Again, there are other issues. While dismantling the NNPC may excite many Nigerians, given what the company has represented over the years, experience has also shown that the entrenched government reex of creating new agencies to deal with systemic challenges has only led to the relocation of the various seats of abuse, rather than its elimination.

While we must commend the Senate for the passage of the PGIB, even as we hope that the House of Representatives will speed up their own process so that there can be a harmonious version to assent, it is important that the lawmakers see this as the beginning of their work. As they work on the enabling legislation, they must engage the oil and gas sector with a good sense of history, the highest level of patriotism and in accordance with the interest of the Nigerian people.

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

JAMB 2017: THINKING OUT OF THE BOX

T

his year’s just concluded Joint Admissions and Matriculation Board’s UTME exercise marks a milestone in the quest for an effective and efficient planning and conduct of national examinations for admission into tertiary institutions. The general impression among candidates, educationists and parents across the country where over 1.6 million sat for the examinations was that there were significant improvements and responsive innovations this time around which is a welcome development. This positive assessment is not a blanket commendation but rather an objective overview recognising that the seemingly unavoidable hitches usually associated with the exercise had less impact on the overall conduct of the examinations to the satisfaction of a greater proportion of candidates.

A candid review of the examinations exercise highlights the successful roll-out of the Computer-Based Tests as the main mode adopted after a critical analysis of the outcome of the transition from written mode coupled with strategising to come up with an implementation template for optimising the CBT mode’s effectiveness as the preferred option. From the performance record of the CBT as rolled out by JAMB it was evident that local factors and specifications were integrated into the software and hardware design and delivery systems particularly to address the peculiar challenges and expressed fears. The computer operation for inputting answers were over-simplified and minimised enough for even the “village students� to find easy to learn, especially with an abundance of free access to online/offline practice sessions that also greatly boosted enthusiasm for computer literacy.

Arguably, the most remarkable aspect of this year’s JAMB examinations is the tightening of screws on the long-running scandal

of brazen and rampant examination malpractices along with the elimination of the sheer stress and anxiety associated with unnecessary prolonged delays in release of results to candidates. Almost miraculously, students (and parents) knew their results after 24 hours from the highly automated marking and delivery system deployed

by JAMB through GSM/email channels, very user friendly and convenient, direct to the candidates with attendant relief and joy to over one million out of the 1.6 million candidates in the first batch.

The “expo� virus was also effectively combated despite its versatile resistance by the intelligent pro-active potency of JAMB’s CBT which not only compelled students to study for individual success but pre-empted and rendered futile various devious cheating tactics such that candidates sitting next to each other were not writing the same examination while closed-circuit cameras conspicuously kept vigil. So impressed were most educationists that the CBT was strongly recommended for all levels of education as a double-edged antidote for two most deplorable ills of national examinations.

The nationwide hosting of a network of 642 private CBT centres charged with provision of basic facilities and services for candidates was another practical demonstration of responsive strategy to ensure sufficiency of access within proximity of convenience to all candidates by incorporating private computer centres that abound all over the country into the examination infrastructure. Again, it was not just for the benefit of the candidates but also a veritable socio-economic incentive whose valuable impact during recession cannot be over stated. The sense of purpose exhibited here stands in sharp contrast to the culture of unresponsive repetition of failed initiatives that bogged down management of national examinations exercises especially JAMB for too long and sets the pace for

progressive attainment of efficiency and effectiveness in conduct of future JAMB examinations.

The Professor Ishaq Oloyede-led JAMB management obviously put on its good thinking cap and thrust its best foot forward in making such a marvelous debut on a tortuous terrain to the extent that the most common problems encountered were patently attributable to the hydra-headed attitudinal malady dubbed ‘Nigerian factor’ that bedevils governance in its entirety. Thus most of the woes faced by candidates, ranging from poor internet services at many CBT centres causing delays and disruptions, poor power supply leading to computer shutdowns, inability of the biometrics system to identify or authenticate candidates fingerprints, exploitation of candidates by overcharging them on registration and muddling subject combinations were directly linked to the CBT centre operators who had pledged hitch-free examination.

Equally disappointing is the apparent connivance of parents seeking fraudulent advantage for their children. Hear Professsor Oloyede: “It is sad to note that many parents are bunch of disappointments. In their efforts to cheat the system, many were discovered to have engaged the services of fraudulent operators who in turn engage the CBT owners for candidates’ registration.

In the process, problems arose. Many have been arrested and more may still be arrested. As long as we are here, the sanctity and integrity of our examination will be protected. All the private CBT centres where the issues have been identified with won’t be accredited by JAMB.� We have every reason to trust and encourage him to remain resolute in his avowed determination to stop the rot effectively and intelligently.

Hamidu Danbarewa, Jalingo

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T H I S D AY WEDNESDAY MAY 31, 2017

T H I S D AY WEDNESDAY MAY 31, 2017

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T H I S D AY ˾ WEDNESDAY,MAY 31, 2017

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Bello’s Voter Registration Scandal

But for immunity, the Kogi State governor, Alhaji Yahya Bello, who was caught engaging in double registration during the Independent National Electoral Commission’s Continuous Voters’ Registration exercise should have faced the wrath of the law, writes Yekini Jimoh

K

ogi State otherwise known as the Confluence State has a way of always attracting negative media attention and that is exactly what has happened again with the Governor, Alhaji Yahaya Bello being accused of illegal double registration in the Continuous Voters Registration (CVR) by the Independent National Electoral Commission (INEC) .

The idea behind the registration of voters across the country was to accommodate those yet to register, those who were below eighteen years old during the last voters registration exercise and people that moved from one state to another on the register. As in other states, people trooped out in their hundreds to take advantage of the opportunity in Kogi State as well.

But alas! Bello became a subject of public discussion when the people of the state observed that despite having registered in Abuja before, he was again registered at Government House located in Lokoja, the Kogi State capital, which by delineation is in Kogi West senatorial district of the state. The action runs foul of the law and he has recieved bashings for it.

The governor’s double registration came to light when photographs showed him being registered by INEC officials in his office in Lokoja. Most people were surprised when the registration was posted on social media platforms not minding the implication because it is in Kogi State that practically every political appointee of the governor is social media man.

Any little thing done by the governor either positive or negative is posted on social media by the so-called political appointees.

It is no news that the governor did not vote during the last governorship election in his ward, Ageva, because his voter’s card was issued in Abuja. So, people expected him to transfer his voters card from Abuja to Kogi State, but sadly, the governor never did that. Rather, he opted to bring INEC staff to the Government House, Lokoja, which is incidentally located in a different senatorial district of the state, to register his name.

The governor comes from Agasa in Okene Local Government Area of Kogi Central. Many wondered why he chose to register in another senatorial district, and why the exercise was carried out in a government house where there was no polling unit.

The obvious mistake, which is already generating controversy in the country is made worse with INEC formally accusing the governor of registering for Permanent Voters Card (PVC) twice, a clear violation of electoral law.

INEC, in a press statement issued in Abuja said Bello acted ‘illegally’ to have registered for voter’s card in Abuja and Kogi, but said it could not take action against the governor because he is constitutionally protected from prosecution while in office.

“The governor’s double registration and doing so outside INEC’s designated centres are both illegal,” INEC’s National Commissioner and chairman, Voters Education Committee, Solomon Soyebi said. He categorically denied authorising any staff to “re-register him and or to do so outside designated CVR centres”.

Soyebi confirmed that Bello was first registered at Wuse Zone 4, Abuja, on January 30, 2011, but illegally did so again on May 23, during the ongoing continuous voters registration exercise in his Lokoja, Kogi State office.

According to him, the commission is taking disciplinary action against the INEC staff involved.

He said: “Were it not for the governor’s immunity, he would not have escaped prosecution.

Bello...said he had difficulty transferring his Abuja voter’s card to Kogi

“Section 308(1) (a) of the 1999 Constitution (as amended) precludes INEC from prosecuting him while in office. However, INEC wishes to state that it has cancelled his second and illegal registration forthwith because our electoral law and the commission’s guidelines make no exception for anyone to register more than once and outside the designated areas.”

The governor’s friend-turned foe, Senator Dino Melaye representing Kogi West senatorial district did not take the issue lightly. In his immediate reaction, has asked Bello to resign from office forthwith because he has embarrassed the state, the citizens, and the All Progressive Congress (APC).

What is however obvious is that the last is yet to be heard about the trending story. While the state government would continue to mount its defence to justify the governor’s action and try to suppress the scandal, those who want to settle political scores with him will continue to escalate the issues

Melaye, who is the chairman, Senate Committee on Federal Capital Territory (FCT), while speaking with THISDAY on phone over the double registration said, “It is unfortunate that we have a fraudulent governor who has exhibited criminal tendencies. Yahaya Bello should resign immediately. We are not only going to start civil mass action but we are going to mobilise Kogi State House of Assembly for his impeachment.

He should resign. It is a fraud.”

Also reacting, the main opposition party, the Peoples Democratic Party (PDP), Kogi State chapter, in a press statement said the recent disclosure by INEC that Bello had registered for PVC before is to PDP, “a drama of the absurd.”

The Kogi State PDP Publicity Secretary, Prince Bode Ogunmola, in a press statement, noted that while “We see the development as a vindication of our party’s earlier stance on the voter’s registration status of Yahaya Bello. We wish to make it clear that the present APC-led government in Kogi was foisted on the people of the state. It is not untrue that Yahaya Bello was not legally qualified and had no moral standing to run for election in Kogi State, in the first place, since he has never been a registered voter in the state.

“It was not for nothing that some of his party members were not happy and openly disagreed with the way the national body of the APC imposed his gubernatorial candidature on them. The state is presently groaning under a leadership that has no place in moral justice.

“Our party is taken aback by the revelation that Bello registered as a voter for the second time

on Tuesday, May 23, 2017 in the Government House, Lokoja. This, to us, smacks of double standard on the part of the electoral body.

“The questions INEC needs to ask itself are: Did the officer(s) of the commission that registered Bello for the second time not know that he had claimed to be a registered voter? Does it mean that INEC has no record of voters in its data bank, thus allowing double registration?

No doubt, somebody is not ready to stand by the truth somewhere.”

He stressed that his party and the members were expectant that the clear violation of electoral law would not be swept under the carpet as the Electoral Act adequately prescribed the appropriate penalty for anyone that violated the law.

“It is, therefore, not enough to cancel the second registration without ensuring that the necessary penalty is meted out. Bello did not only register twice, but also had the audacity to carry the electoral officers and their equipment to Government House, Lokoja, which is not one of the designated centres for the exercise.

“The people of Kogi have, with this development, seen the hollowness in the agenda of the APC-led government. Therefore, our party will continue to be on the side of the people as we pursue the restoration of their dignity through the ballot box in 2019.” he concluded The Director-General, Media and Strategy to Governor Bello, Mr. Kingsley Fanwo defended his boss. According to him, Bello never lied about his INEC registration status.

He said: “While some were positively worried, some others see it as another window of opportunity to get at the governor. We thank both groups.

“From the first day, the governor didn’t say he registered in Kogi State. It even came up at the tribunals. He registered in Abuja. He never voted in Kogi State. Nothing in the law makes it mandatory for you to vote for yourself before you can win a political position. We have had people who won elections from detention in the past. They wouldn’t have voted for themselves from detention.

“As a star witness during the tribunals, the Chief of Staff to the governor, Hon. Edward David Onoja told the panel of judges that the governor was a registered voter, but not in Kogi State. The governor’s efforts to transfer the card from Abuja to Kogi State has not been successful, hence the need to seize this golden opportunity to get registered in Kogi State. There was nothing wrong with registering in the governor’s office because it belongs to all Kogites. Government House is People’s House,” Fanwo argued.

What is however obvious is that the last is yet to be heard about the trending story. While the state government would continue to mount its defence to justify the governor’s action and try to suppress the scandal, those who want to settle political scores with him will continue to escalate the issues.

In fact, a group, Kogi foe Change, is already making plans to take legal action against the governor. A statement by its chairman, Omeiza Yakubu, a copy of which was made available to newsmen, said it would take legal action in view of the illegality of Bello’s action.

“The impunity that unleashed the governor on the state is at work again and we are not going to take it lightly. As a matter of fact we have decided as a group to take the matter to court. It is a criminal offence to engage in double registration,” the group said.

The question, however, is, what actions are available in view of section 308 of the constitution which clothed the governor with immunity?

T H I S D AY ˾ WEDNESDAY,MAY 31, 2017

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THE NEWSMAKER

MIDWEEKPOLITICS

Fayose’s Journey in Futility Ekiti State governor, Ayodele Fayose has declared his intention to seek an extension of his tenure beyond 2018. In view of the plethora of authorities which render such adventure a waste of resources, Davidson Iriekpen asks why the governor wants to embark on a futile mission

E

kiti State Governor, Mr. Ayodele Fayose, last week stirred the hornet’s nest when he said he might seek an extension of his tenure beyond 2018 in court. The governor, whose posters have already adorned the streets of Ekiti, stated that since his first term of four years was truncated through an illegal impeachment, it was necessary that he was allowed to complete it now.

He was first elected governor in 2003 on the platform of the Peoples Democratic Party (PDP) after he defeated Niyi Adebayo of the Alliance for Democracy (AD). On October 15, 2006, about seven months to the end of his first four-year term, he was controversially impeached by the state House of Assembly.

Having lost his immunity, and with threats of arrest staring him in the face, he fled the country to an undisclosed country. He suddenly resurfaced in November 2008 into the waiting hands of the Economic and Financial Crimes Commission (EFCC) which charged him to court over allegations of corruption.

The case dragged on to 2014 when he contested for the governorship election again and defeated the incumbent, Dr. Kayode Fayemi.

In the 2007 general election however, Segun Oni of the PDP was declared winner by the Independent National Electoral Commission (INEC) as governor of the state and sworn in on May 29, 2007.

After about three years of litigation, the Court of Appeal in 2010, nullified Oni’s election and Kayode Fayemi of the defunct Action Congress of Nigeria (ACN) was sworn in as governor.

However, Fayose again contested in 2014 against Fayemi who was seeking a re-election for another term. INEC declared him winner and in October 2014, he was sworn in as governor.

Even though Fayemi refused to challenge his victory at the tribunal, his party, the All Progressives Congress (APC) did. One of the grounds the party hinged its suit on was that Fayose was not eligible to contest the election in the first place since he was removed from office via impeachment. Of course, the governor won the case at both the tribunal and the Court of Appeal.

On appeal to the Supreme Court, the APC again raised the issue of Fayose’s impeachment.

In its judgment, the apex court in April 2015, held that impeachment was not a ground for disqualification citing section 182(1)(e) of the constitution which listed the grounds for disqualification.

Justice Sylvester Nwali Ngwuta who delivered the lead judgment held that only a court of law or the Code of Conduct Tribunal could find a person guilty before such a person would be disqualified from standing election for ten years.

The court held that the proper thing to have done after Fayose was impeached was to charge him before the Code of Conduct Tribunal and that having not done that, he was not barred from re-seeking election as governor of Ekiti state. Besides, the court held that since the first panel constituted by the then Chief Judge of the State, cleared Fayose of any wrong doing, the matter ought to have ended there in accordance with the section 188 (8) of the constitution.

According to the justices, the constitution of another impeachment panel by the Acting Chief Judge of the State, Justice Jide Aladejana (who was later dismissed by the National Judicial Council) was an illegality.

Explaining why he chose to put his picture in the campaign posters currently circulating in Ekiti, Fayose said since the apex court said his impeachment in 2006 was illegal, he was entitled to approach the same court to interpret what that ruling meant.

“The continuity poster you see my image in and which is spreading across the state can be interpreted in two ways. First, is the need for me to ask the apex court to explain its 2015 ruling that my so-called impeachment in 2015 was illegal, null and void and consider a re-election in 2018 so that I can complete my

Fayose...wants a third bite at the cherry?

term. Second is for me to get our own man, one who is like Ayo Fayose to continue after my tenure in 2018,” he said.

Legal experts, however believe that Fayose does not stand a chance in view of previous judgment of the Supreme Court in the case of Governor Rasheed Ladoja v INEC, when the appellant (Ladoja) wanted an extension of his term of office to allow him to spend extra 11 months while he was fighting his impeachment from outside. Though, the court set aside his impeachment, it was held that the relief was illegal and unconstitutional. They wondered if the court did not allow Ladoja who was returned to office after 11 months to enjoy tenure elongation why should it be Fayose who is seeking the same gesture over 10 years after.

The observers also drew his attention to the case of the five governors who were re-elected after their initial election was annulled, where the court equally made it clear that tenure extension

While Femi Falana (SAN), Emeka Ngige (SAN); Sebastine Hon (SAN); Paul Ananaba (SAN) and a Lagos-based legal practitioner, Jiti Ogunye, argued that Fayose’s bid was unconstitutional and bound to fail, another senior lawyer, Chief Mike Ozekhome, believes the court could grant Fayose the opportunity to serve out the seven months remaining in his first term before he was impeached

was unknown to the constitution.

Just like the reactions Fayose was expecting the issue to generate, lawyers in the country are already expressing different opinions on the issue.

While Femi Falana (SAN), Emeka Ngige (SAN); Sebastine Hon (SAN); Paul Ananaba (SAN) and a Lagos-based legal practitioner, Jiti Ogunye, argued that Fayose’s bid was unconstitutional and bound to fail, another senior lawyer, Chief Mike Ozekhome, believes the court could grant Fayose the opportunity to serve out the seven months remaining in his first term before he was impeached. For instance, Falana described the governor’s intention as anomalous, saying the bid would amount to a tenure elongation which no court could grant. He said: “Tenure extension by a governor under any disguise is anomalous. No court can prolong the tenure of a sitting governor barring the two terms prescribed by the constitution. In the case of Governor Rasheed Ladoja v INEC, the appellant wanted an extension of his term of office to allow him to spend extra 11 months while he was fighting his impeachment from outside.

“Although the Supreme Court had set aside his impeachment, it was held that the relief was illegal and unconstitutional. Similarly, the governors who were re-elected after their initial election was annulled, the Supreme Court made it abundantly clear that tenure extension was unknown to the constitution. In view of the settled position of the law on the matter, Fayose cannot be granted by any court in Nigeria.”

On his part, Ngige argued that antecedents showed that the court could not grant the request of the governor. He added: “My own understanding is that based on the Supreme Court decisions on former governor Peter Obi versus INEC, and former governor Ladoja against the state House of Assembly, Fayose is not eligible to contest another term.

“The then Oyo State governor had complained to the court about his impeachment by the state House of Assembly, which truncated his tenure, and later voided, and sought to extend his tenure by the number of days to reclaim his mandate; but the Supreme Court told him pointedly that it was not possible.

“The same thing applies to Fayose. He had taken an oath of office, whether rightly or wrongly

but he was impeached along the line and later, the impeachment was voided by the court. But that is not to say that the tenure did not run.

“However, I think the governor is perfectly entitled to seek judicial interpretation of his eligibility to contest another term of office. It is a democratic sense to do that. He can try his luck.”

Hon also agreed citing the cases of Ladoja and Obi. According to him, the apex court had settled the issue that wrongful impeachment could never serve as grounds to extend a statutorily defined term of office. He contended that the Supreme Court would not likely to overrule itself if Fayose approached the court.

Hon said: “The four years which a governor is entitled to for a term cannot be broken just because of impeachment or because the election of somebody was nullified and the person was outside and later came back. Those issues have been settled by the Supreme Court and I don’t see the court overruling itself and I don’t think Fayose has any right to come back under the law.”

Ananaba also said Fayose could not seek reelection, having taken the oath of office for the office of the governor twice. Although Ananaba said it was an issue that should be tested in court, he expressed doubt whether Fayose was actually serious about seeking re-election.

He added: “The issue is whether he has taken the oath of office for the position of a governor twice. If the answer is no, then he can seek re-election but if the answer is yes, he cannot seek re-election.

“But I think it is a matter that should be tested in court. Although I’m aware that that certain principles have been settled, the law is being developed every day. But I don’t think he actually wants to run.”

However, Ozekhome who has been Fayose’s lawyer lately, said if the governor could convince the court, he might be compensated for seven months to fulfill his constitutional two terms.

He said: “The truth is that if I remember carefully, Fayose won the matter that his impeachment was illegal. And if it was declared illegal by a court, it means then that it never was. If a competent court declared the impeachment as null and void, it then means that the seven months for which he was impeached were illegally taken from his two terms. Therefore, I will say that where there is a right, there is a remedy.

“So, once Fayose can prove that he was illegally removed and that illegality has been confirmed by a court of law, it means that in the eyes of the law, he was still a governor but was prevented from acting during the impeachment. He can therefore seek for recompense for those months to enjoy the unexpired residue of seven months for which his governorship was truncated.

“Fayose may have said the statement as a politician to fly a kite, but I can assure you that he has touched on something of serious constitutional import. Fayose is not looking for four years, but seven months. In the worst scenario, he can be entitled to only seven months which was taken from his first term.”

Ogunye, on his part, advised Fayose to talk to his lawyers so that he could be properly guided in his ambition. He noted that the constitution did not make provision for an extension when a governor’s tenure was truncated to allow such person to contest and make up for the lost time.

He said: “Assuming he wins the election in 2018, will he then govern mathematically or arithmetically up to the month or the year when his first term was truncated?

“The little law that I know, in the case of Obi and INEC, in relation to the provision of the constitution on tenure and the qualification to contest a governorship seat, if you were elected into office twice and has taken the oath of office twice, the emphasis is on being elected twice and being sworn into office twice, you will not be able to contest another term. The constitution does not provide for a truncated tenure to enable a person, whose tenure is truncated, to come back and have another bite at the cherry.”

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FEATURES

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

Death of the Diary What does it mean to keep a diary in the age of Facebook, asks Solomon Elusoji

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or most millennials, a day seems odd without a trip to social media, whether it is scrolling through their Facebook newsfeed, replying to a Direct Message on Twitter or posting a manipulated picture on Instagram. For many of their elders, reared in an analogue age, it’s a strange world.

In March 2015, Facebook introduced a new feature on its service, On This Day. It is a memory feature that allows users view content they posted or engaged with on Facebook in the past. For example, if today is October 1, the user sees past status updates, photos, posts from friends, from October 1 of last year, two years ago, and so on. The amount of data Facebook has accumulated over the years made this feature an instant hit, as it gave users a sort of nostalgic feeling about their own life, the same emotions diaries are supposed to conjure. The difference between Facebook’s On This Day and a typical diary is that the former seems to do the job better.

Going by Merriam Webster’s definition of a diary as “a book in which you write your personal experiences and thoughts each day� it is hard to imagine a modern John Doe stowed away in a dark room, crouched over a leather bound note, scribbling away the experiences of his day. Instead, John Doe would rather flip out his smart-phone, log into Facebook, write about his day and publish it to friends and families, sometimes to strangers he will never meet. It is curious, this need for instant gratification, for the world to see even our intimate parts as quickly as they develop, that one begins to wonder about the evolutionary reason (if there is one) for keeping diaries private, before Mark Zuckerberg and his cohorts changed the world.

This reporter, then, went on a juvenile mission to find out people who still keep diaries in this age. A university student and mental health advocate, Olisa Eloka, kept one last year. “Writing your heart on paper is a great pleasure on its own,� he said. A Human Capital Development Professional who lives in Kaduna, Maryam Muhammed, still does it because “it takes a load off you, reminds you how much you have grown (or not), and more importantly, keeps you honest.� A fresh National Youth Service Corps graduate, Thelma Okonwa, said “it helps as a soothing balm; I use it as therapy.�

But when asked why the details recorded in their private diaries could not have been

Away from the diarykeepers, social media is becoming more intimate than the most honest and brutal private diaries. It is where a woman comes to and shares her rape experiences; it is where a man comes to post pictures of him being eaten away by a disease, sometimes seeking help. It is where every achievement, every moment of joy, is celebrated

Diary writing is an old human art

Companies like Facebook are changing the way we record our most intimate thoughts

posted on their social media platforms, they all agreed, without exception, that some information thrive better in the dark. “No, there are thoughts you keep to yourself and others you share,� Olisa said. “Take for example, your brother pissed you off

so badly and you want to kill him. That kind of thought is better written down than shared on social media. Sharing thoughts like this could generate a feedback beyond your wildest dreams. And again, people would twist your thoughts on social media. People would always want you to explain your

thoughts to them, to convince them. But when you write your thoughts, your feelings, you are your own audience. You don't owe anybody anything. Because you are writing your soul. You are reading your soul. And nobody would ever understand you more than you understand yourself. Simply put,

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FEATURES

Zuckerberg . . . driving the growth of augmented reality

Harari . . . forecasts an immersive digital future for mankind

not every thought that goes through your head should appear on social media. Put them in your diary.�

Muhammed is more subtle. She feels there is a dishonest quality to social media that encourages people to become who they are not; in a sense, create a new identity from ‘photoshopped’ images and constant display of unreal happiness. “If our definition of a diary is to chronicle our experiences, I think a diary is honest,� she said, “I don’t think social media is.�

But what does this say about who we are as a specie, this ability to camouflage personalities and become different things?

Perhaps, it is the idea of a diary that needs to change. We could start by agreeing that diaries have now been classified into two: the real one and the unreal one. Maybe, then, we can begin to get a grip on this mainstream reality that is challenging how we record our most intimate thoughts.

However, away from the diary-keepers, social media is becoming more intimate than the most honest and brutal private diaries. It is where a woman comes to and shares her rape experiences; it is where a man comes to post pictures of him being eaten away by a disease, sometimes seeking help. It is where every achievement, every moment of joy, is celebrated. And then there are the private messages, which Ikhide Ikheloa, a father and educationist, describes as “the real diaries.� “I think they are brave and they may be in need to release some pressing thoughts or feelings,� Olisa said. “Sometimes, I do this unconsciously; I say more than I think I should say. People that share their conditions on social media, I admire them. Some of them

past. Any amateur historian knows the value of one. It gives us a window into the lives of the dead, into stories buried by conquest or accident. But very few people keep diaries with history in mind. In fact, keeping a diary, today, has become an unconscious act. It is not out of place, for example, to say that tweeting and ‘instagramming’ are forms of diary keeping. Although there are several problems with this novel dimensions, the most pressing is that of privacy.

Ikhide, who believes people do not share enough ‘truth’ on social media, however believes that we should make peace with the idea of exposure. “For me, it is easier to just put everything out there. Privacy is now a myth. My smart-phone can tell exactly when I want to be with my Lover in the other room.�

The peace he advocates can be disconcerting for many. The internet has no secrets and anything can be hacked. Plus, the internet also never forgets. Adaora Opah, a mother of one and aspiring novelist, says she would love to burn all three diaries she kept during her teenage years because they “are so brutally honest that I don’t want my children to read them.� She is lucky those three diaries were not chronicled on social media. With tools like Screenshot apps and Google, its extinction would not have been solely in her hands.

Still, there are people who believe that more information about our lives is a good thing for the advancement of human society.

The more we share details of our lives on the internet, the more companies like Facebook and Google can make our lives better. In his latest book, ‘Homo Deus’, history professor, Yuval Noah Harari, writes about a

just want to give voice to their situation, others want people to just listen to them, others just share because it gives them a sense of release. Sometimes what you share can kill you. Sometimes it can save you.

Sometimes you share and nothing would happen. People share because they want to be heard. And understood, if that's possible.�

He is right. Social media validates our human experiences, or invalidates them, as the case may be. But there is also the perspective stressing that the idea of keeping a diary, in itself, is a public act. It does not matter whether the thought is downloaded via fingers clicking on buttons or through the tip of a pen, what matters is that it is out there and someone else is likely to read it. In the end, it’s only a matter of degree.

Throughout history, diaries have served as a source of precious information about the

There are people who believe that more information about our lives is a good thing for the advancement of human society.The more we share details of our lives on the internet, the more companies like Facebook and Google can make our lives better

new religion, Dataism, which holds that the universe consists of data flows, and the value of any phenomenon or entity is determined by its contribution to data processing. The idea is simple: the worth of every human being is the amount of information they can contribute to the flow of global data. “As the global data-processing system becomes all-knowing and all-powerful, so connecting to the system becomes the source of all meaning,� Harari writes. “Humans want to merge into the data flow because when you are part of the data flow you are part of something much bigger than yourself.

Traditional religions told you that your every word and action were part of some great cosmic plan, and that God watched you every minute and cared about all your thoughts and feelings. Data religion now says that your every word and action are part of the great data flow, that the algorithms are constantly watching you and that they care about everything you do and feel. Most people like this very much. For true-believers, to be disconnected from the data flow risks losing the very meaning of life. What’s the point of doing or experiencing anything if nobody knows about it, and if it doesn’t contribute something to the global exchange of information?�

Harari’s vision is not impossible. In fact, it is happening before our very eyes with the rise of new forms of media like augmented reality, which will only serve to immerse us deeper into the digital sea. Exponential growth in artificial intelligence will also require us to surrender more and more information to our technology proxies. Maybe, in the next millennium, humans won’t have a need to own or write diaries. We will be the diaries.

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IMAGES

L-R: Founder/CEO, Learning ONTHEGO Ltd. Martins Anietie Abraham; CEO, Arndele Foods and Confectioneries Ltd; Ogechi Okelu; CEO, U&I Palm Enterprises, Imaobong Emmanuel Ekanem; CEO, Diamond Bank Plc. Uzoma Dozie; Managing partner, Master Farms Ltd, Udeme Mfon-Okon; and Founder/CEO, Tiny Hearts Technology, Virtue Oboro, at the presentation of cheques to the winners of Building Entpreneurs Today (bet) 6, by Diamond Bank Plc. in Lagos‌recently sunday adigun

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Photo Editor ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ ÔËÖË Email Ă‹ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜Ë›Ă‹Ă”Ă‹Ă–Ă‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

L-R: Commissioner for Information/Strategy,Lagos State, Mr. Steve Ayorinde; Commissioner for Establishments Training and Pensions, Dr. Akintola Benson Oke; Chairman, House Committee on Establishments and Public Service, Lagos state House of Assembly, Hon. Adedayo Olufemi-Famakinwa; and Permanent Secretary, Ministry of Establishments Training and Pensions, Mrs. Folasade Ogunnaike, during the Year 2017 Ministerial Press BrieďŹ ng to mark the 2nd year in oďŹƒce of Mr. Akinwun Ambode as Lagos state governor, in Lagos...recently etop ukutt

L-R: Longest Serving Mouka Employee, Mr. Alli Joseph; Managing Director/CEO, Mouka Foam Nigeria Plc, Mr. Raymond Murphy; Longest Serving Distributor, Alhaji Jimoh Sanni and the Board Director, Mr. Zali Khatib, during the launch of Mouka customers service centre, in Lagos...recently kola olasupo

L-R; Chairman, PMG-MAN, Mr S. Okechukwu Akpa; Vice-Chairman, Senate Committee on Health, Senator Mathew Urhoghide, representing the Senate President and MD/CEO, Private Sector Health Alliance of Nigeria (PHN) Dr Muntaqua Umar-Sadiq during an interactive session between PMG-MAN, Private Sector Health Alliance of Nigeria and other Stake Holders on ‘Improving Access To Medicines in Abuja...recently.

Julius Atoi

L-R: Head, Private Trust, United Capital Plc, Ada Ijara; Managing Director/CEO, Scobos International Ltd, Mr. Charles Odenigbo;Managing Director/CEO, Sigma Pensions, Mr. Dave Uduanu; and Vice President, Development, West, Sigma Pensions, Mabel George, at the Sigma Pensions human resources conference in Lagos... recently etop ukutt

Lagos State Governor, Mr. Akinwunmi Ambode (left) and former governor of Ogun State,Chief Olusegun Osoba during the Lagos history lecture with the theme: Lagos: Yesterday, Today & Tomorrow as part of activities marking the Lagos @ 50 celebrations in Lagos...recently

L-R: Executive Director, SystemSpecs, Mr. Deremi Atanda; CEO, Housecessories, Ms. Nwakama Okoye; CEO, SB Tecoml & Devices, Mr. Afolabi Abiodun; CEO, Human Capital Development Company, Mrs. Abisola Longe, and Managing Director, XL Express and Logstics Limited, Omome Osime at the 2017 edition of the TAMS Productivity Summit in Lagos...recently abiodun ajala

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BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH

A S

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NIBOR 21.3750% 21.0038 %

3-MONTH 6-MONTH

22.5331% 24.6856%

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NITTY 1-MONTH 3-MONTH

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

2 0 1 7 20.1827% 19.3855%

6-MONTH 9-MONTH

21.3861% 21.5058%

EXCHANGE RATE N305.35//1US DOLLAR* *AS AT LAST FRIDAY

Quick Takes Unity Bank MD Hosts Students

The Unity Bank Managing Director/ Chief Executive Mrs. Tomi Somefun has advised students to be cautious in embracing social media. She warned that addiction to all forms ‘gadgetisation’ and social media tools could result in major distractions and negative inuences that may derail their future.

Somefun gave the advice when Unity Bank hosted students of the Holy Child College, Ikoyi, as part of the activities to mark the 2017 Children’s day celebration. The high point of the activities was the role play by Miss Stephanie Okafor, who was the One-Day CEO of Unity Bank. “The internet is a good resource for academic work as well as for sharing of information in a cost eective manner and there is no doubt about the values it has brought to the society. However, there is need for caution as excessive exposure/use of the internet and other social media tools could adversely aect children in their formative years,â€? a statement from the bank quoted her to have stated. She tasked the students to remain focused and work hard for the attainment of their respective dreams while making career choices. “You can be anything you want to be. No dream is too big, keep your focus and never allow anything to distract youâ€?, she advised.

Artist Wins N2m in Fidelity Bank Promo

PRE AGM MEDIA PARLEY

L-R: Executive Director, FSDH Merchant Bank, Mrs. Olufunsho Olusanya; Managing Director/CEO, Mrs. Hamda Ambah; and the General Manager, Mr. Robert Ajiamah, at the Bank’s pre annual general meeting press conference in Lagos‌ recently sunday adigun

Senate C’ttee Commences Processes to Stop Gas Flaring, Stipulates Stiffer Sanctions Damilola Oyedele in Abuja The Senate has commenced legislative processes aimed at prohibiting gas flaring and imposing stiffer penalties on defaulting oil and gas firms, as proposed by the Gas Flaring (Prohibition and Punishment) Bill 2017.

The bill is intended to address the inadequacies and shortcomings of the Associated Gas Re-Injection Act of 1979, provide stiffer penalties in line with current economic realities, and ensure the achievement of the National Flares-out Target of January 1, 2030.

ENERGY The bill, which recently passed through second reading, also makes it mandatory for operators to submit gas utilisation plan within 90 days of the commencement of the Act for effective monitoring.

The sponsor of the bill, Senator Bassey Albert Akpan, (Akwa Ibom North East), speaking on the bill, said that gas flaring remains one of the most dangerous environmental and energy waste practices in the oil industry.

He added that the con-

tinuous practice has disastrous consequences on human and environmental health and causes loss of revenue by depriving the government of tax and trade opportunities.

Bassey, who is also the Chairman of the Senate Committee on Gas, stated that the emphasis on creation of infrastructure for gas utilisation should be a condition for grant of licenses, as being done in countries like the United States. “The Bill also makes specific provisions for the installation of requisite gas flare meters equipped with facilities that enable real time, online data

retrieval for independent reporting and monitoring by the industry regulator,� he said. “The current gas flare penalty of N10 per 1,000scf is too low, and not in line with current economic realities and encourages continuous gas flaring by operators with its attendant negative effect on our environment instead of encouraging investment in infrastructure by the operators to make gas available for our domestic use,� he added.

Furthermore, he said that there is a need to increase Continued on page 24

Proposed Amendment of PRA 2014 Faces Stiff Opposition Ebere Nwoji The Centre for Pension Right Advocacy, has condemned the proposed amendment of the Pension Reform Act 2014 (PRA), insisting it will result in the depletion of the Retirement Savings Account (RSA) of retirees, impoverishing them and opening them to old age poverty.

The centre, also said the proposed amendment, would defeat the entire objective of the Contributory Pension Scheme (CPS).

Director of the centre, Ivor Takor, in a position paper titled ‘Move by Senate to Amend the Pension Act 2014’, faulted

INSURANCE the federal government for the proposed amendment, which primarily seeks to enable retirees withdraw up to 75 percent of their pension savings.

He argued that in view of the fact that one of the objectives of the CPS, established under PRA 2014,is to assist improvident individuals by ensuring that they save in order to cater for their livelihood during old age, it is doubtful if the 25 percent balance in a retiree’s RSA, after deduction of 75 percent lump sum, would if spread through the retiree’s expected life span, be adequate to reasonably cater for their livelihood during old

age. “The bill seeks to amend Section 7(1) of the Act as follows: To exclude persons who retire before the age of 50 years in accordance with the terms and conditions of their employment from accessing their RSA balance in line with Section 7(1) of the Pension Reform Act (PRA) 2014.

Our position is corroborated by the proposed amendment in Section 2(c) of the Bill. This amendment seeks to ensure that persons who retire before the age of 50 years in accordance with the terms and conditions of their employment Section 16 (2) (c) of PRA 2014 access the RSA in line with the mode stipulated for employees who

disengage or are disengaged from employment before the age of 50 years and are unable to secure another employment within four months Section 16(5).

We note that such persons are only allowed to withdraw an amount of money not exceeding 25 percent of the total amount in the RSA Section 16(5)�, Takor stated.

He argued that those who retire under Section 16 (2) Š have permanently left the service, while those who disengage or are disengaged under Section 16(5) are under frictional (temporal) unemployment and can still get another job and Continued on page 24

Fidelity Bank Plc has presented a cheque of N2 million to KaďŹ lat Olayinka Dada who emerged star prize winner in the monthly draw of the ongoing ‘Get Alert In Millions’ promo recently. Dada who received the prize money at a prize presentation ceremony expressed gratitude to the bank for fulďŹ lling her dreams of owning a beauty salon.

A statement from the bank quoted Dada to have said: “When I was told that I won the prize money, I thought it was a scam. I only believed it when my account oďŹƒcer conďŹ rmed it.â€?

In addition, Joseph Chukwulozie, a car dealer and Ugwumba Gaius also smiled home with a generating set and refrigerator respectively.

In his opening remark, the Managing Director/ Chief Executive OďŹƒcer, Fidelity Bank Plc. Nnamdi Okonkwo pointed out that the promo is in line with the bank’s commitment to improve the living standards of customers particularly in today’s ailing economy.

Okonkwo who was represented by the Executive Director, Shared Services & Products, Chijioke Ugochukwu pointed out that the promo was designed to not only drive ďŹ nancial inclusion mandate of the Central Bank of Nigeria (CBN) but to imbibe a savings culture.

Chukwulozie, another customer was full of admiration for the bank’s dedication to delivering excellent service. Recounting his experiences with the bank, Chukwulozie said that “ever since I started banking with Fidelity, I have had that assurance of quality service. As a business man, I need dependable advice and Fidelity Bank provides me with all necessary information to help grow my business.�

Total CEO Speaks on OPEC Cut Decision

The decision by oil producing countries to extend production cuts agreement by nine months gives the market much needed visibility until at least 2018, the Chief Executive of French oil and gas company Total said on Friday.

The Organisation of the Petroleum Exporting Countries (OPEC) and non-members led by Russia decided on Thursday to extend cuts in oil output by nine months to March 2018 as they battle a global glut of crude. “It was a good decision. It was good because it goes beyond 6 months and gives visibility until 2018, and does not make everything dependent on the next OPEC meeting on November 30,� Pouyanne told journalists on the sidelines of Total’s annual shareholders meeting in Paris.

Pouyanne said he expected oil stocks to start reducing in the second half of the year and if that happens, markets will react accordingly. “Between the decision and the strong demand that is expected this summer, we’ll see the stocks move, however, the U.S. production remains the unknown, as always,� Reuters quoted Pouyanne to have said.

“Why exactly should we spend scarce FX resources paying for things we can produce here in Nigeria? I believe that only entrenched interests, who do not have the interests of ordinary Nigerians at heart, would want us to do so�

CBN Governor,

Mr. Godwin EmeďŹ ele

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BUSINESSWORLD SENATE C’TTEE COMMENCES PROCESSES TO STOP GAS FLARING, STIPULATES STIFFER SANCTIONS the gas flaring penalty to an appropriate and commensurate level sufficient to de-incentivise the practice of gas flaring, and introduce other market measures to encourage efficient gas utilisation.

The committee would commence public hearing for the review of the bill next week, which would be declared open by the Senate President, Dr. Bukola Saraki.

Officials from the Ministries of Petroleum Resources and Environment, Nigeria National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR), Niger Delta Development Commission (NDDC), Nigerian Liquified Natural Gas (NLNG), National Oil Spill Detection Response Agency (NOSDRA), Nigerian Extractive Industry and Transparency Initiative (NEITI) and National Environmental Standard and Regulations Enforcement Agency (NESREA) are expected to be in attendance.

PROPOSED AMENDMENT OF PRA 2014 FACES STIFF OPPOSITION continue with the scheme,.

He posited that the proposed amendment would be unfair on an employee who duly retired in accordance with the terms and conditions of his employment and should not be allowed.

Takor, further noted that the bill, also seeks to amend Section 7 (1) of the PRA 2014 by inserting the words “of up to 75 percent� immediately after the words “a lump sum�.

He said the import of the proposed amendment, in line with the foregoing, was to allow some category of employees to rather than withdraw a lump sum based on a computation that allowed the balance in the RSA to be sufficient to procure a programmed withdrawal or annuity for life, can withdraw up to 75percent as lump sum, irrespective of whether or not the balance would be sufficient to procure a programmed fund withdrawals or annuity for life:

Group Business Editor

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Align Economic Policies Towards Export-led Growth, CSO Tells FG Ndubuisi Francis in Abuja A civil society organisation (CSO), Centre for Social Justice (CSJ), has advised the federal government to align economic policies towards export-led growth instead of the fixation on import substitution, which it described as a basic minimum.

CSJ argued that exports will help improve the value of the naira and reposition the fiscal and external accounts.

In the mid-term economic report of the Buhari administration issued by its Lead Director, Mr. Eze Onyekpere, the group noted that the economy has not been managed in the most efficient and reasonable manner to enable the federal government to fulfill its obligation of improving the standard of living of Nigerians. “Majority of Nigerians are now living below the poverty line and life has become so miserable and intolerable for the majority. “Thus, federal government of Nigeria needs to take concrete and targeted steps towards rejuvenating the economy and inclusively ensuring that all hands are on deck for this national assignment.

It, therefore urged the Buhari administration to rejig the key personnel of the government, and place round pegs in round holes. “Also, appoint all remaining board and policy positions in all parastatals for a full complement of staff and needed competencies to run the government,� it said, asking the government to fully implement the Executive Orders rolled out by the acting President, Prof.

Yemi Osinbajo.

While calling for the release of the full details of all statutory transfers, CSJ also canvassed the harmonisation of fiscal and monetary policy positions and reinforce the Economic Management Team to fulfill its true purpose.

The organisation further called for a rethink of the privatisation of the power sector so as to bring in competent and capable investors with financial capacity, especially

at the distribution companies (DISCOs) so as to bring in new resources to turn around the sector. “This is imperative for the improvement of capacity utilisation in industries, beefing up manufacturing and general economic turnaround of the country,� CSJ said.

It also advised the government to submit a comprehensive borrowing plan with details, cost benefit analysis and details to the National Assembly - who are enjoined to

review same and give approval based on sustainability, equity and national interest.

Other recommendations of the CSO included a call to split the Ministry of Power, Works and Housing into three distinct ministries and appoint transformational professionals with core competencies to run the ministries. “Repackage the National Housing fund as the best option and cheap source of funds for housing finance

and ensure that the major qualification for benefitting from the Fund is being a contributor to the Fund. “Give a sense of belonging through requisite appointments and include the South-East corridor in the National Railway Expansion Plan. “Law enforcement agents should be made to ensure the protection of settled farmers and the criminal elements among herdsmen should be brought to justice.

LUCKY WINNER

L-R: Deputy Director, Consumer Protection Council (CPC), Shamm T. Kolo; Regional Director, Abuja/North, First City Monument Bank (FCMB), Mr. Lukman Mustapha; winner of a generating set, Mr. Abudulahi Yahaya, Mr. Edeaghe Mark of National Lottery Commission and Zonal Head, Wuse FCMB, Mr. Baldwin Onuigbo at the bank’s ďŹ rst Millionaire Promo Season 4 Draws for the Abuja/Northern Region held in Abuja, Federal Capital Territory ‌recently

FG Urged to Review Increase in Tariff for Tomato Concentrates Nosa Alekhuogie The Group Managing Director of Sonia Foods Industries Limited, Mr. Nnamdi Nnodebe has called on the federal government to consider the plight of local manufacturers and review the increase in the tariff for tomato concentrates from five to 50per cent, and the $1,500 levy on each metric tonne of tomato concentrate imported into the country.

He stated that some of the challenges bedevilling manufacturers include; multiple taxation, epileptic power supply and most importantly government’s

policy somersault.

According to him, “the increase in the tariff for tomato concentrates from five to 50 per cent, and the $1500 levy on each metric tonne of tomato concentrate imported is designed to make manufacturers of tomato paste shut down factories.� This development, he averred would lead to loss of jobs and livelihood of Nigerians.

He however expressed hope that government will reconsider this policy disposition, emphasising that it is not designed to protect anyone. “Prior to this time, I was manufacturing outside the

country, but then the government called on manufacturers to create jobs at home, and out of my patriotic zeal to do just that and empower Nigerians, I and other manufacturers invested billions into creating factories and jobs. Not long after the ban on items including materials needed for manufacturing our products was put in place and most recently the new tariff and other policies which is bound to cause more harm than good for manufacturers with attendant effect on the economy has been put in place.

The government should

endeavour to look into these policies for the good of Investors and potential investors who don’t find these policies favourable.�

Having said this, the GMD reassured his customers of his unwavering commitment to improved service delivery in spite of the harsh economic�, he said.

In spite of the biting recession, Sonia Foods over the weekend rewarded its loyal distributors for their outstanding performance in the 2016 business year.

The company chose an auspicious day, the start of

the Muslims’ Ramadan fast, to reward its faithful customers.

Nnodebe kicked off the event by expressing gratitude to Sonia’s clients for their relentless patronage and support throughout 2016 and expressed hope that the current year would be more fruitful.

While interacting with his customers, the GMD shared with them the nature of the challenging business environment. The presentation of the gifts followed immediately afterwards with Kehinde Subair and Mr. Bode Abdulahi rewarded with a brand new SUV each.

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Kano Govt Offers Scholarship to 100Youths to Bridge ICT Gap Emma Okonji Governor of Kano State, Dr. Abdullahi Umar Ganduje has said that his administration would provide scholarship to 100 youths to study at the Digital Bridge Institute (DBI), located in the state. The essence of the scholarship is to bridge the gap in Information and

Communications Technology (ICT) in the state.

The governor, who gave the assurance at the maiden matriculation ceremony for the National Innovation Diploma programme of the DBI, specifically said that 60 males and 40 females would be the initial beneficiaries of the scholarship.

Ganduje was full of praises

for the Nigerian Communications Commission (NCC), led by its Executive Vice Chairman, Prof. Umar Garba Danbatta, for considering Kano one of the centres for the programme.

The initiative of the NCC led

by Danbatta resulting in the approval by National Board for Technical Education (NBTE) to make DBI, Kano Campus as an

Innovation Enterprise Institute was highly commendable.

The State, the governor said will take advantage of the opportunity as part of efforts to promote ICT diffusion in the state, especially in the rural areas across the 44 Local Councils.

Emir of Kano, Muhammed Sanusi II, spoke in a similar

way but appealed to the EVC and governments at all levels to ensure that there is sufficient investment in ICT infrastructure to promote access to ICT by the youths at the grassroots. The Emir said: “There is no point getting a Diploma in ICT if the only place you can operate is in the city centre. We need to have more people in the rural areas.

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BUSINESSWORLD

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AIICO Insurance Grows Underwriting ProďŹ t By 326% Ebere Nwoji AIICO Insurance Plc, said it grew its underwriting profit for the year ended December 31st,2016 by 326 percent.

Its Gross Premiums for the period however witnessed slide from N32.9 billion in 2015 to N27.1billion in 2016 down by N5.8billion (or 17.8per cent).

Announcing this to shareholders at the 2016 annual general meeting of the company held in Lagos recently, AIICO Insurance Managing Director, Edwin Igbiti, explained that the reduction in the company’s gross premium during the period was due to its strategic decision to reduce premiums written in the longterm business (retirement product) as a result of higher market risks.

Igbiti said AIICO’s underwriting profit for the period, increased from a loss ratio

of N5.5billion to a profit of N12.45billion across the group driven by slight underwriting improvements in the non-life business and release of the reserves in the life business.

He added: “Our decision to diversify the long-term business to include protection and endowment products – this increased by N3.4 billion (36%) in 2016. “Economic conditions that affected business in 2016 key accounts in the corporate business segment were not renewed.

We recorded Gross Premium Income of N30 billion in 2016 up N19.6 billion (or 188%) from N10.4 billion in 2015.�

He said this was as a result of the reduction in the company’s annuity reserves, which is recorded as a decrease in unearned premiums in its income statement and a release to profits. Furthermore, he said:

“Actual investment income increased by 27 percent in 2016 to N7.2 billion from N5.7 billion. Our asset management capabilities continue to be a key strength for the company as we recorded a significant increase in investment income due to high yield.�

According to him, book value of equity/shareholders’ funds as at December 31, 2016 was N8.3billion, down by N1billion (or 11%). He attributed this to the reduction in the value of assets as interest rates increased.

Igbiti said the company also incurred some one-time expenses during the year (such as bank duty taxes) totaling almost N2 billion, adding that the cumulative effect of the reduction in asset values is found in other comprehensive income as a loss in available-for-sale assets and is reflected in a reduction in shareholder’s equity.

MotionPlus Logistics Moves to Boost Entrepreneurship Ndubuisi Francis in Abuja MotionPlus Logistics Ltd, has introduced innovative ways to revolutionise car hire services in the country in a bid to grow entrepreneurs with sustainable incomes.

MotionPlus Logistics Ltd is an indigenous private cab hire and logistics company, which was incorporated in 2015 to cater for all classes of logistics and cab hire services.

Co-founder and Chief Operating Officer (COO) of the company, Mr. Ayobamidele Mohammed disclosed that it is a technology-driven firm that is swiftly changing the old-fashioned way of people going to the roadside to board taxis, with the attendant risks and delays. With MotionPlus Logistics now in the mix, he said all that a potential commuter requires is to download the company’s app and log on to the dispatch system to request for a cab to any destination. “The introduction of our high premium user-friendly Motionplus rider’s app has with just a click, improved the ways customers hail down taxis.

With the App, which is available

for free on IOS and Android phones, customers can request for a cab from the comfort of their homes, reducing the stress that a busy city like the FCT puts on its citizens,� he said.

According to him, MotionPlus owns no cars but partners drivers and riders.

To become a driver with MotionPlus, he stated that certain conditions must be met as a standard, adding that drivers must meet the minimum age requirement to drive, evidence of permit to drive, disclosure of any previous criminal conviction/current investigation, and disclosure of any chronic health condition.

He stated that they must also be available to receive training on the use of a driver’s application, company policy, company rates, drivers’ etiquette, riders/ drivers relation as well as driving signs, skills and routes. “With emphasis on riders’ safety and comfort while on board our vehicles, Motionplus offers GPS satellite-controlled vehicles, 24 hours security tracking surveillance system, and with a long-term plan to deploy 24 hours CCTV monitor in all vehicles. “To assure our customers that

their safety is of great importance, we ensure that all drivers are professionals who have the requisite years of driving experience. Background checks of all drivers are carried out by appropriate security agencies and they are fully trained by the Federal Road Safety Commission (FRSC) and Vehicle Inspection Officers (VIOs) to ensure full compliance with road safety rules and regulations. “As MotionPlus Logistics launches in Abuja with an efficient, convenient and affordable car hire service within and outside the city, we are operating in Ibadan, Lagos and plans to commence in Kaduna and Port Harcourt is being put in motion. Our vision is to pioneer a committed, professional and reliable logistics services for our customers need,� he said.

The COO added that Motionplus caters for a wide spectrum of clients providing services in absolute style and convenience, adding that with affordable rates as low as N400, it offers a wide range of vehicles, free Wi-Fi while on board, discounts on the choicest of rides for airport shuttle, and also ensuring that drivers and partners enjoy great income earning opportunities..

BATN Pledges Commitment to National Devt Eromosele Abiodun The British American Tobacco Nigeria (BATN) has reiterated its commitment to the socioeconomic development of Nigeria through its significant investments in the local manufacturing industry.

The Legal and External Affairs Director, BAT, West Africa, Freddy Messanvi, stated this just as the World Health Organisation (WHO) has launched its World No Tobacco Day (WNTD) campaign for the year themed: ‘Tobacco: A Threat to Development.’ Messanvi said: “We are one of the leading industry manufacturers in Nigeria with initial

investments of over $150 million in our Ibadan factory and Zaria operations. We believe in the huge potential of the non-oil sector and as one of the nation’s non-oil foreign exchange earners, we support about 350,000 to 400,000 livelihoods directly and indirectly while building local capacity of our employees by exposing them to international best practices in environmental health and safety, corporate governance, standards of business conduct, principles of engagement, among others.�

Speaking further, Messanvi noted that BATN has been making significant strides in the agricultural sector with the support of farmers through an

extensive world-class backward integration model that also encourages alternative food cropping programmes with growers.

He stated that the model has been studied and replicated by other key stakeholders and industry players in Nigeria.

He added that through the company’s independent charity, the BATN Foundation, it facilitates livelihood initiatives that focus on the development of smallholder food crop farmers residing in rural communities.

This critical role, he noted, “supports the attainment of the United Nation’s Sustainable Development Goals (SDG) to eradicate poverty.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

When an Organisation Becomes too Successful

Ă–Ă™Ă?Ăž Ă—ĂŁ Ă?Ă‹ĂœĂŽ Ă“Ă˜ Ă™Ă˜Ă? Ă™Ă? ÞÒĂ? Ă’ĂŁĂšĂ?ĂœĂ—Ă‹ĂœĂ•Ă?ĂžĂ? Ă‹Ă–Ă™Ă˜Ă‘ ÞÒĂ? Ă?Ă•Ă•Ă“ ËâÓĂ? Ă‹Ă˜ĂŽ had to rush to the bank to cancel the card. Ă’Ă?Ă˜ ÑÙÞ ÞÒĂ?ĂœĂ?Ëœ Ă—Ă‹ĂŽĂ? Ă?Ă™Ă&#x;Ăœ ĂžĂœĂ‹Ă˜Ă?Ă‹Ă?ĂžĂ“Ă™Ă˜Ă? ĚŽ Ă?Ă‹Ă˜Ă?Ă?Ă–Ă–Ă?ĂŽ ÞÒĂ? Ă?Ă‹ĂœĂŽËœ ĂžĂœĂ‹Ă˜Ă?Ă?Ă?ĂœĂœĂ?ĂŽ Ă—Ă™Ă˜Ă?ĂŁ ÞÙ Ă‹Ă˜Ă™ĂžĂ’Ă?Ăœ ĂŒĂ‹Ă˜Ă•ËŞĂ? Ă‹Ă?Ă?Ă™Ă&#x;Ă˜ĂžËœ Ă?ÙÖÖĂ?Ă?ĂžĂ?ĂŽ Ă?Ă‹Ă?Ă’ Ă‹Ă˜ĂŽ ÑÙÞ Ă‹ Ă˜Ă?ĂĄ Ă?Ă‹ĂœĂŽË› ÞÒÙĂ&#x;Ă‘Ă’Ăž ÞÒĂ? Ă˜Ă?ĂĄ Ă?Ă‹ĂœĂŽ ĂĄĂ‹Ă? ĂžĂ?Ă—ĂšĂ™ĂœĂ‹ĂœĂŁËœ Ă™Ă˜Ă–ĂŁ ÞÙ ĂŒĂ? ÞÙÖÎ ÞÒËÞ Ă“Ăž ĂĄĂ‹Ă? ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜Ăž Ă‹Ă˜ĂŽ ĂŽĂ“ĂŽ Ă˜Ă™Ăž Ă˜Ă?Ă?ĂŽ ÞÙ ĂœĂ?ĂžĂ&#x;ĂœĂ˜ ÞÙ Ă‘Ă?Ăž Ă‹ ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜Ăž Ă™Ă˜Ă?Ë› ĂĄĂ‹Ă? ĂœĂ?Ă‹Ă–Ă–ĂŁ Ă?Ă&#x;ĂœĂšĂœĂ“Ă?Ă?ĂŽ Ă‹ĂŒĂ™Ă&#x;Ăž ÞÒĂ? Ă?Ă‹ĂœĂŽ ĂŒĂ?Ă“Ă˜Ă‘ ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜ĂžËœ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă“Ăž ÞËÕĂ?Ă? Ă?Ă“Ă Ă? ĂĄĂ™ĂœĂ•Ă“Ă˜Ă‘ ĂŽĂ‹ĂŁĂ? Ă“Ă˜ Ă—ĂŁ Ă—Ă‹Ă“Ă˜ ĂŒĂ‹Ă˜Ă•Ë› Ă–Ă– Ă™Ă? ÞÒĂ?Ă?Ă? ĂžĂœĂ‹Ă˜Ă?Ă‹Ă?ĂžĂ“Ă™Ă˜Ă? Ă?Ă˜Ă&#x;Ă—Ă?ĂœĂ‹ĂžĂ?ĂŽ Ă‹ĂŒĂ™Ă Ă?Ëœ ĂĄĂ?ĂœĂ? ĂŽĂ™Ă˜Ă? Ă“Ă˜ ͹͎ Ă—Ă“Ă˜Ă&#x;ĂžĂ?Ă?Ëž Ă‹Ă–Ă– ĂŽĂ™Ă˜Ă? ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă“Ă™Ă˜Ă‹Ă–Ă–ĂŁËœ with good customer service and ambience. Ă™ Ă?Ă‹ĂŁ ĂĄĂ‹Ă? Ă“Ă—ĂšĂœĂ?Ă?Ă?Ă?ĂŽ Ă“Ă? Ă‹Ă˜ Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ÞËÞĂ?Ă—Ă?Ă˜ĂžË› Ă’Ă? Ă˜Ă?âÞ ĂĄĂ?Ă?Ă•Ëœ Ă’Ă‹ĂŽ ÞÙ ËÚÚÖã Ă?Ă™Ăœ Ă‹ ĂŽĂ™Ă–Ă–Ă‹Ăœ Ă?Ă‹ĂœĂŽË› ĂĄĂ?Ă˜Ăž ÞÙ Ă—ĂŁ Ă—Ă‹Ă“Ă˜ ĂŒĂ‹Ă˜Ă•Ë› Ă’Ă? Ă?Ă“ĂœĂ?Ăž thing that strikes you as you entered the ĂŒĂ‹Ă˜Ă•Ă“Ă˜Ă‘ Ă’Ă‹Ă–Ă– Ă“Ă? ÞÒĂ? Ă?ĂœĂ™ĂĄĂŽË› Ă’Ă?Ă˜Ëœ Ă“Ăž Ă?Ă“Ă˜Ă‹Ă–Ă–ĂŁ ÑÙÞ ÞÙ Ă—ĂŁ ĂžĂ&#x;ĂœĂ˜ ÞÙ ËÚÚÖã Ă?Ă™Ăœ ÞÒĂ? Ă?Ă‹ĂœĂŽË› Ă’Ă‹Ăž

Ă˜Ă?Ă?ĂŽĂ?ĂŽ ÞÒĂ? Ă?Ă‹ĂœĂŽ Ă?Ă™Ăœ ĂĄĂ‹Ă? Ă?Ă˘ĂžĂœĂ?Ă—Ă?Ă–ĂŁ Ă&#x;ĂœĂ‘Ă?Ă˜ĂžËœ and my thinking was that the rules of waiting a few days to get your card had changed.

ĂĄĂ‹Ă? ĂšĂ?ĂœĂšĂ–Ă?âĂ?ĂŽ ĂĄĂ’Ă?Ă˜ ĂĄĂ‹Ă? ÞÙÖÎ ÞÙ Ă?Ù×Ă? back in five days to collect the card. I then Ă?Ă˜Ă›Ă&#x;Ă“ĂœĂ?ĂŽËœ Ă“Ă? ÞÒĂ? Ă?ÙÖÖĂ?Ă?ĂžĂ“Ă™Ă˜ ĂĄĂ‹Ă? Ă?âÞĂ?Ă˜ĂŽĂ?ĂŽ because it was a dollar card? I was told Ă˜Ă™Ëœ ÞÒËÞ Ă‹Ă–Ă– Ă?Ă‹ĂœĂŽĂ? Ă‹ĂœĂ? ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă?ĂŽ ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă?Ă“Ă Ă? ĂĄĂ™ĂœĂ•Ă“Ă˜Ă‘ ĂŽĂ‹ĂŁĂ?Ë› Ă’Ă?ĂŁ Ă?Ă‹Ă“ĂŽËœ Ă“Ă? Ă’Ă‹ĂŽ ĂœĂ?Ă›Ă&#x;Ă?Ă?ĂžĂ?ĂŽ for a naira card I would have been given a ĂžĂ?Ă—ĂšĂ™ĂœĂ‹ĂœĂŁ Ă?Ă‹ĂœĂŽ ÞÒËÞ Ă?Ă™Ă&#x;Ă–ĂŽ Ă&#x;Ă?Ă? Ă?Ă™Ăœ Ă‹ Ă?Ă?ĂĄ ĂŽĂ‹ĂŁĂ? ĂŒĂ?Ă?Ă™ĂœĂ? Ă—ĂŁ ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜Ăž Ă?Ă‹ĂœĂŽ ĂĄĂ‹Ă? ĂœĂ?Ă‹ĂŽĂŁ Ă‹Ă˜ĂŽ Ă?Ă™Ă&#x;Ă–ĂŽ Ă‹Ă–Ă?Ă™ Ă‘Ă?Ăž Ă‹ ËŠĂ™Ă˜Ă?Ě‹ Ă&#x;Ă?Ă?ËŞ ĂŽĂ™Ă–Ă–Ă‹Ăœ Ă?Ă‹ĂœĂŽË› ÙÞÒ Ă™ĂšĂžĂ“Ă™Ă˜Ă? ĂĄĂ?ĂœĂ? Ă˜Ă™Ăž Ă?ËÞÓĂ?Ă?Ă‹Ă?ĂžĂ™ĂœĂŁË› ĂŽĂ“ĂŽ Ă˜Ă™Ăž see why I needed to come back.

I then told them that I had gone to another bank the week before and had gotten a ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜Ăž Ă?Ă‹ĂœĂŽ ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă‹ Ă?Ă?ĂĄ Ă—Ă“Ă˜Ă&#x;ĂžĂ?Ă? Ă‹Ă?ĂžĂ?Ăœ Ă?Ă‹Ă˜Ă?Ă?Ă–Ă–Ă“Ă˜Ă‘ ÞÒĂ? ÙÖÎ Ă™Ă˜Ă?Ë› Ă? ĂĄĂ‹Ă? ĂžĂœĂŁĂ“Ă˜Ă‘ ÞÙ Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜ Ă—ĂŁ ĂšĂœĂ?Ă Ă“Ă™Ă&#x;Ă? Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? ÞÙ ÞÒĂ? Ă–Ă‹ĂŽĂŁ Ă“Ă˜ Ă™ĂœĂŽĂ?Ăœ ÞÙ Ă’Ă?Ă–Ăš Ă?Ă˜Ă?Ă&#x;ĂœĂ? ÞÒËÞ Ă’Ă?Ăœ Ă?Ă&#x;ĂšĂ?ĂœĂ“Ă™ĂœĂ? ÑÙÞ ÞÒÓĂ? Ă?Ă?Ă?ĂŽĂŒĂ‹Ă?Ă•Ëœ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă?Ă?Ă–Ăž Ă—Ă‹ĂŁĂŒĂ? ÞÒĂ?ĂŁ ĂĄĂ?ĂœĂ? Ă&#x;Ă˜Ă‹ĂĄĂ‹ĂœĂ? Ă™Ă? ĂĄĂ’Ă‹Ăž ÞÒĂ?Ă“Ăœ Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜ ĂĄĂ‹Ă? ĂŽĂ™Ă“Ă˜Ă‘Ëž ÞÒËÞ ĂšĂ?ĂœĂ—Ă‹Ă˜Ă?Ă˜Ăž Ă?Ă‹ĂœĂŽĂ? Ă?Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? gotten in a few minutes. She rudely shut me Ă&#x;Ăš Ă“Ă˜ Ă—Ă“ĂŽĚ‹Ă?Ă?Ă˜ĂžĂ?Ă˜Ă?Ă? ĂŒĂŁ ĂžĂ?Ă–Ă–Ă“Ă˜Ă‘ Ă—Ă? ÞÙ Ă?Ù×Ă? back the next week to collect my card. Ă? Ă‹ Ă?Ă’Ă‹Ă?ÞÓĂ?Ă?ĂŽ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœËœ Ă—Ă?Ă?Ă•Ă–ĂŁ Ă–Ă?Ă?Þ˛ Ă™Ă&#x;Ăœ ĂŽĂ‹ĂŁĂ? Ă–Ă‹ĂžĂ?ĂœËœ ÑÙÞ Ă‹ Ă?Ă?ĂœĂ“Ă?Ă? Ă™Ă? ĂžĂ?âÞ Ă—Ă?Ă?Ă?Ă‹Ă‘Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ă—Ă‹Ă“Ă–Ă?Ëœ ĂžĂ?Ă–Ă–Ă“Ă˜Ă‘ Ă—Ă? Ă—ĂŁ Ă?Ă‹ĂœĂŽ ĂĄĂ‹Ă? ĂœĂ?Ă‹ĂŽĂŁ Ă?Ă™Ăœ Ă?ÙÖÖĂ?Ă?ĂžĂ“Ă™Ă˜Ë› Ă‘Ă‹Ă“Ă˜Ëœ ĂĄĂ‹Ă? ĂšĂ?ĂœĂšĂ–Ă?âĂ?ĂŽ Ă‹Ă? ÞÒĂ? Ă?ÙÖÖĂ?Ă?ĂžĂ“Ă™Ă˜ Ă–Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜ Ă?ÞËÞĂ?ĂŽ åÙÖÙåÙ ÙËÎ ĂŒĂœĂ‹Ă˜Ă?Ă’Ëœ Ă•Ă™ĂŁĂ“Ëœ Ă?Ă Ă?Ă˜ ÞÒÙĂ&#x;Ă‘Ă’ Ă’Ă‹ĂŽ ĂœĂ?Ă›Ă&#x;Ă?Ă?ĂžĂ?ĂŽ for the card at the Chevron branch on the Lekki axis which is close to my current location.

I then rationalised that maybe it was ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? ÙÚĂ?Ă˜Ă?ĂŽ ÞÒĂ? Ă‹Ă?Ă?Ă™Ă&#x;Ă˜Ăž Ă™Ă˜ åÙÖÙåÙ Road and dollar cards must be gotten ĂĄĂ’Ă?ĂœĂ? ĂŁĂ™Ă&#x; Ă™ĂœĂ“Ă‘Ă“Ă˜Ă‹Ă–Ă–ĂŁ ÙÚĂ?Ă˜Ă?ĂŽ ĂŁĂ™Ă&#x;Ăœ Ă‹Ă?Ă?Ă™Ă&#x;Ă˜ĂžË›

Ă?ĂžĂœĂ&#x;Ă‘Ă‘Ă–Ă?ĂŽ ÞÙ Ă‘Ă?Ăž ÞÙ åÙÖÙåÙ Ă™Ă‹ĂŽËœ Ă™Ă˜Ă–ĂŁ ÞÙ ĂŒĂ? Ă•Ă?ÚÞ ĂĄĂ‹Ă“ĂžĂ“Ă˜Ă‘ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? ÞÒĂ? Ă?Ă&#x;Ă?ÞÙ×Ă?Ăœ service staff could not find the card. I then Ă?Ă˘ĂšĂ–Ă‹Ă“Ă˜Ă?ĂŽ ÞÒËÞ Ă’Ă‹ĂŽ Ă‹Ă?ĂžĂ&#x;Ă‹Ă–Ă–ĂŁ ĂœĂ?Ă›Ă&#x;Ă?Ă?ĂžĂ?ĂŽ Ă?Ă™Ăœ ÞÒĂ? Ă?Ă‹ĂœĂŽ Ă‹Ăž ÞÒĂ? Ă’Ă?Ă ĂœĂ™Ă˜ ĂŒĂœĂ‹Ă˜Ă?Ă’Ëœ ĂŒĂ&#x;Ăž ĂĄĂ‹Ă? Ă?Ă?Ă˜Ăž Ă—Ă?Ă?Ă?Ă‹Ă‘Ă?Ă? ÞÒËÞ ÞÒĂ? ÚÓĂ?Ă•Ě‹Ă&#x;Ăš ĂĄĂ‹Ă? Ă‹Ăž åÙÖÙåÙ ÙËβ Ă?Ă’Ă‹ĂœĂ?ĂŽ ÞÒĂ? Ă—Ă?Ă?Ă?Ă‹Ă‘Ă?Ă?Ëœ which they then used to search. The result Ă™Ă? ÞÒĂ?Ă“Ăœ Ă?Ă?Ă‹ĂœĂ?Ă’Ëœ ĂĄĂ‹Ă? ÞÒËÞ ÞÒĂ?ĂŁ Ă’Ă‹ĂŽ ĂžĂœĂ‹Ă?Ă?ĂŽ the card to their Chevron branch and that ĂĄĂ‹Ă? ĂĄĂ’Ă?ĂœĂ? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ Ă‘Ă™ ĂŒĂ‹Ă?Ă• ÞÙ ÚÓĂ?Ă• Ă&#x;Ăš Ă—ĂŁ card. I shook my head and told them they had lost it.

Studying the historical trajectory of ÞÒÓĂ? ĂŒĂ‹Ă˜Ă•Ëœ Ă—ĂŁ Ă?Ă™Ă˜Ă?Ă–Ă&#x;Ă?Ă“Ă™Ă˜ Ă“Ă? ÞÒËÞ ÞÒĂ?ĂŁ Ă‹ĂœĂ? Ă?Ă&#x;Ă?Ă?Ă?ĂœĂ“Ă˜Ă‘ Ă?ĂœĂ™Ă— ÞÒĂ? ĂšĂ?ĂœĂ“Ă–Ă? Ă™Ă? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ë› Ă’Ă?ĂŁ Ă’Ă‹Ă Ă? ĂŒĂ?Ă?Ù×Ă? Ă Ă?ĂœĂŁ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă–Ëœ åÓÞÒ Ă‹ Ă–Ă‹ĂœĂ‘Ă? ĂœĂ?ÞËÓÖ Ă?Ă&#x;Ă?ÞÙ×Ă?Ăœ ĂŒĂ‹Ă?Ă?Ëœ Ă?ĂžĂœĂ™Ă˜Ă‘ Ă?Ă“Ă˜Ă‹Ă˜Ă?Ă“Ă‹Ă– ĂšĂ?ĂœĂ?Ă™ĂœĂ—Ă‹Ă˜Ă?Ă? Ă‹Ă˜ĂŽ ÑÙÙÎ ĂĄĂ“Ă–Ă–Ë› Ă‹Ă˜ĂŁ ĂŒĂ‹Ă˜Ă•Ă? Ă&#x;Ă?Ă? ÞÒĂ?Ă— Ă‹Ă? Ă‹ ĂŒĂ?Ă˜Ă?Ă’Ă—Ă‹ĂœĂ• Ă?Ă™Ăœ ÞÒĂ? Ă‹Ă?Ă›Ă&#x;Ă“Ă?Ă“ĂžĂ“Ă™Ă˜ Ă™Ă? ĂœĂ?ÞËÓÖ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ?Ë› Ă?Ă&#x;Ă?ĂšĂ?Ă?Ăž ÞÒĂ?ĂŁ Ă‹ĂœĂ? also working hard not to fall into the same

mess that this bank has gotten itself into ĂŒĂŁ Ă‘ĂœĂ™ĂĄĂ“Ă˜Ă‘ ÞÙÙ Ă?Ă‹Ă?Ăž Ă“Ă˜ Ă‹ Ă?Ă’Ă™ĂœĂž ÞÓ×Ă?Ëœ ÞÒËÞ meeting the needs of their customers has now become burdensome to them.

Ăž Ă“Ă? Ă?Ă–Ă?Ă‹Ăœ ÞÒËÞ Ă?Ă™Ăœ Ă—ĂŁ Ă—Ă‹Ă“Ă˜ ĂŒĂ‹Ă˜Ă•Ëœ ËŤĂ?Ă&#x;Ă?Ă?Ă?Ă?Ă? Ă“Ă? Ă‹ Ă’Ă&#x;Ă‘Ă? Ă Ă&#x;Ă–Ă˜Ă?ĂœĂ‹ĂŒĂ“Ă–Ă“ĂžĂŁËŹËœ Ă‹Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ÞÙ Ă™ĂŒĂ?ĂœĂž Ă?ĂœĂŒĂ™Ă–ĂŽËœ ĂĄĂ’Ă™ Ă‘Ă™Ă?Ă? Ă™Ă˜ ÞÙ Ă?Ă‹ĂŁËœ ËŤĂ“Ăž Ă“Ă? Ă“Ă—ĂšĂ™ĂœĂžĂ‹Ă˜Ăž ÞÙ ĂœĂ?Ă‹Ă–Ă“Ă?Ă? ÞÒËÞ ĂšĂ?ÙÚÖĂ? Ă‹Ă˜ĂŽ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? Ă?Ă‹Ă–Ă– Ă“Ă˜ĂžĂ™ ÞÒÓĂ? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă? ĂžĂœĂ‹ĂšË› Ăž ÒËÚÚĂ?Ă˜Ă? ÞÙ Ă?Ă˜ĂžĂ“ĂœĂ? Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? Ă‹Ă˜ĂŽ ĂŽĂ?ĂšĂ‹ĂœĂžĂ—Ă?Ă˜ĂžĂ?Ëœ Ă‹Ă˜ĂŽ ÞÙ Ă“Ă˜ĂŽĂ“Ă Ă“ĂŽĂ&#x;Ă‹Ă–Ă? ĂĄĂ“ĂžĂ’Ă“Ă˜ Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă?Ë› Ă–Ă– Ă‹ĂœĂ? Ă?Ă&#x;Ă?Ă?Ă?ĂšĂžĂ“ĂŒĂ–Ă? ÞÙ ÞÒĂ? ĂšĂ?ĂœĂ“Ă–Ă? Ă™Ă? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?ËŹË› Ă‹Ă–ĂžĂ?Ăœ Ă“Ă˜Ă?Ă’Ă?Ă–Ă– Ă‹Ă–Ă?Ă™ Ă?Ă‹Ă“ĂŽË? ËŤ Ă™ĂžĂ’Ă“Ă˜Ă‘ ĂœĂ?Ă?Ă?ĂŽĂ?Ă? Ă–Ă“Ă•Ă? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?ËŹË› Ă˜ ÞÒĂ? ĂŒĂ™Ă™Ă• ËŤ Ă?Ă–Ă?Ě‹ Ă?Ă?ĂžĂœĂ&#x;Ă?ÞÓà Ă? Ă‹ĂŒĂ“ĂžĂ? Ă™Ă? ÙÙÎ Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă?ËŹËœ ĂĄĂœĂ“ĂžĂžĂ?Ă˜ ĂŒĂŁ Ă‹Ă‘ĂŽĂ“Ă?Ă’ Ă’Ă?ĂžĂ’Ëœ Ă‹ ĂšĂœĂ™Ă?Ă?Ă?Ă?Ă™Ăœ Ă™Ă? marketing strategy at the University of ĂžĂ–Ă‹Ă˜ĂžĂ‹Ëœ Ă˜Ă™ĂžĂ?Ă? ÞÒËÞ ÞÒĂ? Ă‹Ă Ă?ĂœĂ‹Ă‘Ă? Ă–Ă“Ă?Ă?Ă?ĂšĂ‹Ă˜ Ă™Ă? Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? ĂŽĂ?Ă?Ă–Ă“Ă˜Ă? Ă‹Ă? ÞÒËÞ Ă™Ă? Ă’Ă&#x;Ă—Ă‹Ă˜ rises. Seven issues were highlighted for ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ă?Ă? ÞÙ Ă‹ĂŽĂŽĂœĂ?Ă?Ă?Ëœ Ă?ĂžĂ‹ĂœĂžĂ“Ă˜Ă‘ åÓÞÒ ĂŽĂ?Ă˜Ă“Ă‹Ă–Ëœ Ă‹ĂœĂœĂ™Ă‘Ă‹Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ù×ÚÖËĂ?Ă?Ă˜Ă?ĂŁËœ ĂĄĂ’Ă“Ă?Ă’ Ă?Ă‹Ă˜ Ă–Ă?Ă‹ĂŽ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? ÞÙ Ëà ÙÓÎ ĂœĂ?ËÖÓÞã Ă‹Ă˜ĂŽ Ă˜Ă™Ăž Ă?Ă‹Ă?Ă? tomorrow’s needs.

The fourth destructive habit called Ă?Ù×ÚĂ?ĂžĂ?Ă˜Ă?Ă? ĂŽĂ?ĂšĂ?Ă˜ĂŽĂ?Ă˜Ă?ĂŁËœ ÒËÚÚĂ?Ă˜Ă? ĂĄĂ’Ă?Ă˜ the core ability that has sustained your Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜ ĂŒĂ?Ă?Ù×Ă?Ă? Ă™ĂŒĂ?ÙÖĂ?ĂžĂ? Ă‹Ă˜ĂŽ Ă˜Ă™Ă˜Ě‹ Ă?Ù×ÚĂ?ÞÓÞÓà Ă?Ëœ Ă‹Ă? Ă˜Ă?ĂĄ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? åÓÞÒ Ă˜Ă?ĂĄ ĂĄĂ‹ĂŁĂ? Ă™Ă&#x;ÞÚËĂ?Ă? ĂŁĂ™Ă&#x;Ë› Ă?ĂžĂœĂ™Ă˜Ă‘Ă–ĂŁ ĂŒĂ?Ă–Ă“Ă?Ă Ă? ÞÒËÞ if my main bank that I have an attachment ĂžĂ™Ëœ ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž ĂĄĂ™ĂœĂ• ÞÙ Ă›Ă&#x;Ă“Ă?Ă•Ă–ĂŁ Ă?ÙÖà Ă? ÞÒĂ?Ă?Ă? Ă?Ă?ĂœĂ Ă“Ă?Ă? ĂšĂœĂ™ĂŒĂ–Ă?Ă—Ă? ÞÒËÞ ÞÒĂ?ĂŁ Ă’Ă‹Ă Ă? Ă’Ă‹ĂŽ Ă?Ă™Ăœ Ă?Ù×Ă? ÞÓ×Ă? Ă‹Ă˜ĂŽ Ă‹ĂœĂ? ËÚÚĂ?Ă‹ĂœĂ“Ă˜Ă‘ ÞÙ ĂŒĂ? Ă“Ă˜ Ă‹ state of flux on how to solve these service ĂŽĂ?Ă–Ă“Ă Ă?ĂœĂŁ ĂšĂœĂ™ĂŒĂ–Ă?Ă—Ă?Ëœ Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜ Ă—Ă‹ĂŁ Ă?Ă™Ă™Ă˜ Ă™Ă&#x;ÞÚËĂ?Ă? ÞÒĂ?Ă— Ă‹Ă˜ĂŽ Ă–Ă?Ă‹Ă Ă? ÞÒĂ?Ă— Ă?Ă‹Ăœ ĂŒĂ?Ă’Ă“Ă˜ĂŽË› Customers are becoming tired and Ó×ÚËÞÓĂ?Ă˜Ăž åÓÞÒ ÞÒĂ?Ă“Ăœ ĂšĂ™Ă™Ăœ Ă›Ă&#x;ËÖÓÞã Ă™Ă? Ă?Ă?ĂœĂ Ă“Ă?Ă?Ë› Ă’Ă“Ă? ĂšĂ™Ă™Ăœ Ă›Ă&#x;ËÖÓÞã Ă“Ă? Ă‹Ă–Ă?Ă™ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă?ĂŽ ĂĄĂ’Ă?Ă˜ ĂŁĂ™Ă&#x; Ă&#x;Ă?Ă? ÞÒĂ?Ă“Ăœ Ă™Ă˜Ă–Ă“Ă˜Ă? ÚÖËÞĂ?Ă™ĂœĂ—Ă?Ëœ which are cumbersome and unfriendly. ĂŁ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă“Ă? ÞÒËÞ Ă“Ăž ÞËÕĂ?Ă? ÞÙÙ Ă–Ă™Ă˜Ă‘ ÞÙ ĂšĂ?ĂœĂ?Ă™ĂœĂ— ĂžĂœĂ‹Ă˜Ă?Ă‹Ă?ĂžĂ“Ă™Ă˜Ă? Ă™Ă˜ Ă‹ Ă˜Ă™ĂœĂ—Ă‹Ă– ĂŽĂ‹ĂŁË› Ă˜ ÙÞÒĂ?Ăœ ĂŽĂ‹ĂŁĂ?Ëœ ÞÒĂ? ÚÖËÞĂ?Ă™ĂœĂ— ĂŽĂ™Ă?Ă? Ă˜Ă™Ăž ĂĄĂ™ĂœĂ• Ă?Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă–ĂŁ Ă“Ă˜ ÞÒĂ? Ă‹Ă?ĂžĂ?ĂœĂ˜Ă™Ă™Ă˜ ĂĄĂ’Ă?Ă˜ ÞÒĂ?ĂœĂ? Ă“Ă? likely to be heavy customer traffic. The norm is that the transaction times out. Ă’Ă? Ă?Ă“Ă?ÞÒ Ă“Ă? Ă?Ù×ÚĂ?ÞÓÞÓà Ă? Ă—ĂŁĂ™ĂšĂ“Ă‹Ëœ ĂŒĂ?Ă?Ă‹Ă&#x;Ă?Ă? Ă—Ă‹Ă˜ĂŁ Ă?Ă™Ă—ĂšĂ‹Ă˜Ă“Ă?Ă? ĂŽĂ?Ă?Ă“Ă˜Ă? Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜ ÞÙÙ narrowly that it misses threats entering into its business. I do not think my main bank is suffering from this issue. They are Ă Ă?ĂœĂŁ Ă‹ĂĄĂ‹ĂœĂ? Ă™Ă? ÞÒĂ?Ă“Ăœ Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜Ëœ ĂŒĂ&#x;Ăž Ă?Ă?Ă?Ă— to be at a loss on how to solve the customer service issues they obviously have. Ă’Ă? Ă?ÓâÞÒ Ă“Ă? Ă?Ă™Ă?Ăž Ă?Ă?Ă?Ă“Ă?Ă“Ă?Ă˜Ă?ĂŁËœ ĂĄĂ’Ă?ĂœĂ? Ă?Ă™Ă?Ăž rise and margins fall as the scale of the organisation grows. The seventh is territorial Ă“Ă—ĂšĂ&#x;Ă–Ă?Ă?Ëœ Ă?Ă&#x;Ă–ĂžĂ&#x;ĂœĂ? Ă‹Ă˜ĂŽ ĂžĂ&#x;ĂœĂ? ĂĄĂ‹ĂœĂ?Ë› Herbold offers two guidelines to ensure continued success: Ëž Ă? Ă‹Ă? Ă‹Ă‘Ă‘ĂœĂ?Ă?Ă?Ă“Ă Ă? Ă‹Ă? ĂŁĂ™Ă&#x; ĂĄĂ?ĂœĂ? ĂĄĂ’Ă?Ă˜ ĂŁĂ™Ă&#x; Ă”Ă&#x;Ă?Ăž Ă?ĂžĂ‹ĂœĂžĂ?ĂŽ Ă™Ăœ ĂĄĂ?ĂœĂ? Ă–Ă‹Ă‘Ă‘Ă“Ă˜Ă‘ ĂŒĂ?Ă’Ă“Ă˜ĂŽË› Ă?Ă?Ăš the sense of urgency you exhibited when ÞÒĂ? Ă?Ù×ÚĂ?ĂžĂ“ĂžĂ“Ă™Ă˜ ĂĄĂ‹Ă? Ă‹Ă’Ă?Ă‹ĂŽ Ă™Ă? ĂŁĂ™Ă&#x;Ë› Ëž Ă?Ă Ă?ÖÙÚ Ă‹ Ă?Ă&#x;Ă–ĂžĂ&#x;ĂœĂ? ÞÒËÞ Ă?Ă™Ă˜Ă?ĂžĂ‹Ă˜ĂžĂ–ĂŁ Ă›Ă&#x;Ă?Ă?ĂžĂ“Ă™Ă˜Ă? Ă‹Ă–Ă– ĂšĂœĂ‹Ă?ÞÓĂ?Ă?Ă? Ă‹Ăž Ă‹Ă–Ă– ÞÓ×Ă?Ă?Ë› Ă™Ă˜Ă?ĂžĂ‹Ă˜ĂžĂ–ĂŁ ĂšĂœĂ™ĂŒĂ? Ă?Ă™Ăœ Ă˜Ă?ĂĄ Ă‹Ă˜ĂŽ ĂŒĂ?ÞÞĂ?Ăœ ĂĄĂ‹ĂŁĂ? Ă™Ă? ĂŽĂ™Ă“Ă˜Ă‘ ĂžĂ’Ă“Ă˜Ă‘Ă?Ë›

Ă˜ Ă?Ă™Ă˜Ă?Ă–Ă&#x;Ă?Ă“Ă™Ă˜Ëœ Ă’Ă?ÞÒ Ă?Ă‹ĂŁĂ? Ă‹Ă˜ĂŽ Ă‹Ă‘ĂœĂ?Ă?Ëœ ˍÞÒĂ? Ă–Ă?Ă‹ĂŽĂ?Ăœ ĂĄĂ’Ă™ Ă?Ă—ĂŒĂœĂ‹Ă?Ă?Ă? Ă?Ă’Ă‹Ă˜Ă‘Ă?Ëœ ĂĄĂ’Ă™Ă?Ă? Ă Ă?ĂœĂŁ ÚÒÓÖÙĂ?ÙÚÒã Ă“Ă? ĂŒĂ‹Ă?Ă?ĂŽ Ă™Ă˜ ĂšĂœĂ?ĂŽĂ“Ă?ĂžĂ“Ă˜Ă‘ Ă‹Ă˜ĂŽ ĂšĂœĂ?ĂšĂ‹ĂœĂ“Ă˜Ă‘ Ă?Ă™Ăœ ĂžĂ™Ă—Ă™ĂœĂœĂ™ĂĄËŞĂ? ĂĄĂ™ĂœĂ–ĂŽ ĂĄĂ“Ă–Ă– Ă˜Ă™Ăž Ă™Ă˜Ă–ĂŁ Ă?Ă’Ă‹Ă•Ă? Ă’Ă“Ă? Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁ Ă™Ă&#x;Ăž Ă™Ă? ĂŁĂ?Ă?ĂžĂ?ĂœĂŽĂ‹ĂŁËŞĂ? Ă?Ă?Ă–Ă?Ě‹ ĂŽĂ?Ă?ĂžĂœĂ&#x;Ă?ÞÓà Ă? Ă’Ă‹ĂŒĂ“ĂžĂ? ĂŒĂ&#x;Ăž ĂĄĂ“Ă–Ă– Ă‹Ă–Ă?Ă™ Ă?Ă?Ă?Ă‹ĂšĂ? ÞÒĂ? shackles of tomorrow’sâ€?. – Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012

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Stock Market Remains under Pressure Inconsistent policies, foreign exchange risks, fleeing investors, and poor corporate results, among others, have kept the stock market under pressure leading to a loss of N1.611 trillion in the two years of Muhammadu Buhari’s administration, writes Goddy Egene When President Muhammadu was declared winner of the 2015 presidential election, the stock market responded positively as investors had expected some changes that would impact on their fortunes. Although the stock market had declined in 2014, the news of Buhari’s victory raised fresh optimism among investors and stakeholders driving the market to new high.

Initial Optimism The stock market recorded a historic performance, gaining N904 billion in one day as investors reacted positively to victory of Buhari in 2015. While the market capitalisation of the Nigerian Stock Exchange (NSE) gained N904 billion, the NSE All-Share Index (ASI) soared by 8.4 per cent, the first of such gain in the history of the market, to close at 34,380.14.

A total of 65 stocks appreciated compared to only three that declined. Reacting to that impressive performance, a stockbroker, Mr. Mike Ezeh of Crane Securities Limited had said it was expected because many institutional investors, who had been holding back, were returning to the market to buy into highly discounted stocks. “What we are seeing now will be the trend for the next few days as investors react to the successful elections and corporate results being declared. Many of the stocks have declined to record lows and now investors are taking advantage of those low prices,� Ezeh had said.

Bears Set in While the enthusiasm that greeted the coming in of Buhari was expected to further boost the market, the bears set in as investors’ confidence began to wane due to delay in appointment of cabinet members to drive the government’s economic policies. For instance, 100 days after a historic performance, the stock market lost N1.511trillion.

Although some market operators said the lack of economic direction of the Buhari’s government due to absence of ministers dampened investors’ earlier enthusiasm, the decline in oil prices and devaluation of the Naira equally discouraged foreign investors from increasing their patronage of the market.

Analysts said the market was affected by the adverse economic climate characterised by declining oil prices, rising inflation, declining capacity utilisation and job losses in the manufacturing sector, uncertainties around devaluation of the naira and the delay in passing the 2016 budget. “Given the pedigree of President Buhari, his victory at polls was enthusiastically received.

Expectations were high. But the delayed appointment of key government officials including ministers had dampened confidence of many investors. That is why the market has been sluggish .As you know, investing in stocks is investing in the future of those companies. But now, it is difficult to tell the policy direction.

That is why investors are reluctant to invest for now. I believe by the time the government appoints ministers and make its policy direction known, the market will pick up again,� a stockbroker had said.

Also, the poor performance was linked to the overwhelming influence of the difficult macroeconomic environment which diminished investors’ sentiments. “When he won the election, there was the Buhari bounce which was unprecedented because of the confidence that followed a successful election that was relatively fair and free. The slow state of the administration has put a lot of investors on hold. The relative uncertainty of the business environment has severely impacted the market. The current negative perception of the market will change in the first quarter of 2016 when economic policies become clearer on the way forward. Investors must however take advantage of the great opportunities in the market now because the price of oil will soon stabilise and the prices will move quickly,� another broker said.

Similarly, another broker, Mr. David Adonri,

NSE trading oor

said: “The dismal performance of the market was due to lack of fiscal policy direction by his government, continued decline in crude oil price and impact of Chinese stock market crisis.

However, there are positive developments in the economy. Under the president, fuel scarcity has been arrested and electric power supply has improved remarkably.�

Although the equities market has suffered decline for the past two years, it was expected that the entry of a new administration would reverse the negative trend.

For instance, the Chief Executive Officer of the NSE, Mr. Oscar Onyema had said that with greater clarity on policy direction, they anticipated the return of investors who had remained on the sidelines throughout 2015. “This return is predicated upon return of investor confidence as a result of: effective implementation and communication of the government’s economic blueprint; credibility in monetary policy stance; relative stability in the macro economy (oil price stability above benchmark targets, increase in tax collection to gross domestic product among others) and improved security,� he said.

However, these expectations have not been met, a development that has weakened investor demand for stocks. Some financial experts had said that the developments in the global oil market and foreign exchange policy would determine capital market’s performance in 2016.

According to them, the decline in the nation’s bourse would continue if the price of crude oil continued to fall and government fails to move faster in policy implementation.

By the end of the first year of Buhari’s administration, the market had lost N1.733 trillion in market capitalisation, falling from N11.659 trillion to close at N9.926 trillion.

Similarly, the ASI fell 15.7 per cent to close at 28,902.25, down from 34,310.37.

Fresh hopes Realising that the foreign policy exchange risks were affecting the patronage of the stock market, the government at the beginning of its second year, which was June last year adopted a flexible forex policy.

Prior to the adoption of the flexible forex policy, the level of foreign investors had dropped significantly. Since 2011, foreign transactions have consistently outperformed domestic

transactions. However, domestic transactions slightly outperformed foreign transactions in 2016, accounting for 55 per cent of the total transaction volume in 2016, a development that reflected the impact of the forex risks.

However, the introduction of the flexible policy raised fresh hopes for the market recovery.

Commenting on the development, analysts at Afrinvest had said: “We expect this move to help improve FX supply constraints as foreign investor sentiments improve towards Nigeria as an investment case. We believe foreign portfolio investors (FPIs) and foreign direct investors (FDIs) which have been staying on the side-line would find their way into the system on the back of foreign investor confidence receiving a boost as the interbank market is reinstated as the official platform for market determined exchange rate.�

According to the analysts, they also believe sentiments for equities market, which had anticipated a currency adjustment move, had been elevated as investors await the “come back� of foreign investors who had earlier exited the market on the back of rigid foreign exchange regime.

Also speaking, an analyst at WSTC Financial Services Limited, Mr. Tola Oni, said in the last one year, the efficiency of the country’s economy had been constrained by policies – monetary and fiscal.

He, however, said saying some actions by the federal government in recent times had shown a rethink especially in the partial deregulation of the petroleum downstream sub-sector and the flexible foreign exchange market. “Our concern is that this flexibility must mean flexibility in the whole sense of it.

We’ve seen the capital market make progress recently owing to these. Any attempt by the government to interfere again could drag us back significantly,� Oni said.

Renewed conďŹ dence Poor financial performances of companies due to the negative impact of forex challenges have been part of factors responsible for the decline in the market. The banking sector as well as manufacturing all suffered the negative impact of the forex scarcity, which impacted negatively on their 2016 financial results.

However, the recent introduction of new FX widow by the CBN has renewed confidence in the market as indicated in the market trend for three weeks post introduction of the policy.

Index spiked by 11.92 per cent in three weeks, from 25,189.27 to close at 28,192.46, while market capitalisation gained N1.03 trillion or 11.81 per cent, from N8.716 trillion to N9.741 trillion.

The volume and value of trading also witnessed unprecedented gains, as investors traded 5.742 billion shares valued at N48.848 billion in 158,346 deals in three weeks.

Commenting, analysts at Cordros Capital Limited said they sensed improved investor appetite for risk assets on the Nigerian bourse, judging by market activity in the past three weeks, and more specifically the spike in the number of deals and the volume of shares traded last week.

They linked the performance to reduced apprehension in the macroeconomic environment, impressive full year 2016 and 2017 first quarter (Q1) results of highly capitalised companies, as well as increased confidence and liquidity in the forex market.

Supporting this assessment, analysts at Afrinvest said foreign investors’ appetite for Nigerian assets had waned significantly on the back of the currency crisis, which in turn had fundamentally weakened macroeconomic environment, dragged corporate earnings, and impacted negatively on the equities market. “However, in April, investor sentiment strengthened following the commencement of the Investors’ & Exporters’ (I&E) FX window which signalled a possible return of flexibility in forex rate determination, though multiplicity of rates at the official window is still a major concern.

Despite the relief brought by the FX window, a total of the capitalisation of the stock market has dipped by N1.611 trillion or 13.8 per cent, falling from N11.659 trillion on the eve of the inauguration of the administration in 2015 to N10.048 trillion last Friday. Similarly, the Nigerian Stock Exchange All-Share Index (ASI) fell from 34,310.37 to 29,064.52, indicating a decline of 15.2 per cent. An analysis of the performance showed that in the first year of Buhari administration, the market capitalisation shed N1.733 trillion to close at N9.926 trillion. Similarly, the ASI fell 15,7per cent to close at 28,902.25. However, the market recovered marginally in the second year with capitalisation gaining N122 billion while index appreciated by 0.56 per cent.

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BUSINESSWORLD

ANALYSIS

Nigeria Still Battling Crisis of Confidence President Muhammadu Buhari’s delay in making key appointments and policy pronouncements several months after assuming office in 2015, negatively affected monetary policy and damaged investors’ confidence, which the government is still battling to revive two years after, writes Obinna Chima Exactly two years ago today, President Muhammadu Buhari assumed office as the fifth democratically elected president of Nigeria.

While it was clear that in 2015, the president inherited an economy that was in parlous state, his inability to drive urgent macroeconomic stabilisation programme to save the economy further worsened the situation and destroyed investors’ confidence.

In addition, certain negative comments about the economy from the president few weeks after he took over, either at home or abroad did not help the market either. The challenges that economy was facing clearly manifested in job losses in the economy, spiralling inflation, foreign exchange scarcity as investors that were not clear about the government’s policy direction sat on the fence. The economy also sank into its worst economic recession in 29 years.

However, since 2017, there have been positive projections on the economy following initiatives taken by the government to correct the initial missteps.

Ination The Consumer Price Index (CPI), which is used to gauge inflation in Nigeria, had risen sharply by 91.5 per cent in the last two years, from nine per cent in May 2015, to 17.24 per cent as at April 2017.

The high level of inflation was evident in the spiralling cost of goods and services in the economy in the past two years. Nigerians were faced with high cost of living as could be seen in transportation, health, housing, prices of goods and services. The social implication of the economic hardship in the country has also manifested in the rising wave of social vices in the economy. The high inflation rate has been largely blamed on the scarcity of foreign exchange in the country.

Exchange Rate/FX Management No doubt, when the president assumed office in 2015, the monthly foreign exchange (FX) inflows into the Central Bank of Nigeria (CBN) had reduced significantly from about US$3.6 billion monthly, to less than $1 billion monthly. The development was largely caused by the decline in crude oil prices. Yet, the demand for FX from the market continued to be about US$4.8 billion monthly.

This also had attendant effect on the performance of the naira. In fact, as at June 2016, the CBN abandoned a 16-month-old currency peg of N197 to the dollar, as it adjusted the official exchange rate to N305 to the dollar. Also, on the parallel market, the naira which was about N218 to the dollar, when the president took over, depreciated to as low as N525 to the dollar, before the central bank introduced measures to halt the naira slide. The naira currently trades around the band of N380 to the dollar on the parallel market.

In the last two years, the CBN has initiated far-reaching reforms in the FX market in a bid to stabilise the nation’s currency and bridge the gap between market segments. For instance, the central bank last year reformed the foreign exchange market by introducing a flexible FX policy. The central bank took the decision following findings of round tripping and other sharp practices that had provided room for speculative attacks and arbitrage opportunities on the naira.

Although the initiative did not yield the expected results, the central bank thereafter announced further reforms in the FX market which among other things led to its aggressive foray in the FX interbank market and increased supply, reduction of the maximum waiting time for banks to take delivery of foreign currency through its forward sales contracts to 60 days from 180. It also introduced a special FX window for investors. So far, about $5 billion has been injected into the interbank FX market since February this year, even though its delayed intervention also impacted the market negatively.

In addition, the bank has introduced various FX trading instruments and platforms to enhance the availability of FX. It also published a list of 41 items, which it stopped from accessing FX from the interbank FX market and has continued to preach against the heavy consumption of foreign goods by Nigerians, saying it is detrimental to the domestic economy. “Why exactly should we spend scarce FX resources paying for things we can produce here in Nigeria? I believe that only entrenched interests, who do not have the interests of ordinary Nigerians at heart, would want us to do so,� CBN Governor, Mr. Godwin Emefiele said recently.

Speaking on the rationale behind the continuous exclusion of 41 items from the FX market, Emefiele who said the policy was basically borne out of necessity to conserve FX, urged policymakers across the country to pay attention to global trends and ensure that they reflect upon their strategy and thinking.

Furthermore, he pointed out that there were the new realities of nationalist and populist sentiments sweeping across the world.

Interest Rate In terms of decisions reached at its bi-monthly monetary policy committee (MPC) meetings in the last two years, the CBN has maintained a restrictive monetary policy regime as a result of the inflationary pressure in the country.

The monetary policy rate (MPR) which was 13 per cent when the president took over is currently at 14 per cent. Prime lending rate which was 17.24 per cent when the president took over is presently at 17.43 per cent, while maximum lending rate has gone up to 30.18 per cent presently, from 26.84 per cent two years ago.

External Reserves The country’s external reserves which stood at $29.1 billion when the president took over, fell below $26 billion last year, but have been on the upswing since this year. It closed at $30.49 billion as at May 25. Nigeria’s external reserves are majorly derived from the proceeds of crude oil sales. Therefore, its performance is largely influenced by events in both the

domestic and international oil market.

State of the Banks Although the CBN has maintained that Nigerian banks have enough buffers to withstand shocks, in the face of the headwinds in the economy, the industry’s non-performing loans (NPLs) climbed to 14 per cent at the end of 2016, far above the five per cent threshold set by the regulator.

However, Moody’s Investors Service recently maintained its stable outlook on the Nigerian banking system, reflecting the rating agency’s view that acute foreign-currency shortages in the country will gradually ease.

Moody’s stated that with oil prices and economic activity gradually recovering in Nigeria, it expects banks’ dollar liquidity pressures to gradually ease.

Vice President and Senior Analyst at Moody’s, Akin Majekodunmi said: “We expect asset quality to worsen slightly over the outlook period, as historically low oil prices, currency depreciation and economic contraction experienced in 2016 continue to generate new nonperforming loans in 2017.�

The rating agency anticipates Nigeria’s real Gross Domestic Product (GDP) growth of 2.5 per cent in 2017 and 4per cent in 2018, after a 1.5 per cent contraction last year, as noted in March 2017.

The revival will be supported by government’s measures to expand non-oil sectors and its commitment to fund large infrastructure projects as well as by a partial rebound in global oil prices from lows last year, it stated. “Nigerian banks should have sufficient capital to absorb expected losses, though Moody’s expects system-wide tangible common equity (TCE) to only decline slightly to 14.1 per cent of adjusted risk-weighted assets by year-end 2018 from 14.7 per cent at the end of 2016,� the agency added.

Meanwhile, Fitch Ratings believes that significant financial risks persist in the industry. Fitch in its assessment of the banks’ 2016 earnings pointed out that the healthy 2016 net income was lifted by large one-off revaluation gains after Nigeria allowed its currency to devalue in June.

Anchor Borrowers’ Programme The central bank as part of its Development Finance function has been promoting its Anchor Borrowers’ Programme, which is focusses on specific crops in the agriculture sector.

The bank recently disclosed that it had disbursed N33.34 billion to 146,557 farmers under the Anchor Borrowers Programme. The central bank also said contrary to speculations, farmers on the scheme have commenced repayment of the loans. Details of the loan disbursement and repayment indicated that as at March 31, 2017, N33.34 billion had been released through 12 participating finance institutions in respect of 146,557 farmers across 21 states cultivating over 180,018 hectres of land. Of the total amount of N33.34 billion released to date, about N15.137 billion disbursed to 73,941 Kebbi State farmers have fallen due for repayment with N7.119 billion representing 47 per cent, repaid and returned to CBN. Path to Recovery To Renaissance Capital analyst, Charles Robertson, with a seeming clear direction as well as with the on-going reforms in the economy, the various investment windows in the Nigerian financial market are attractive.

He noted that with the naira at around N400/$ on the parallel market, the currency currently offers a five per cent discount to his firm’s estimated fair value (this discount will likely disappear due to inflation over 2017), “while we think equities and naira bonds are cheap.� Robertson said: “We believe we have learnt enough to justify a more optimistic stance towards Nigerian assets.�

But a former CBN Governor, Prof. Chukwuma Soludo noted that despite the stability achieved in the FX market, the CBN still has a lot of work to do in order to restore confidence in the system, including eliminating the multiple exchange rate regime, which he said is causing distortions in the economy. The former CBN governor however acknowledged that there have been some “bright spots� in the quest to lift the economy out of recession, especially with the launch of the Economic Recovery and Growth Plan (ERGP).

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BUSINESSWORLD

ANALYSIS

New Transparency in Oil and Gas Though Nigeria’s crude oil production nose-dived from 2.13 million barrels per day in May 2015 to its current level of less than 2 million barrels per day as a result of a resurgence of militancy, Ejiofor Alike reports that the past two years, no doubt, witnessed a more accountable and transparent industry Before the present administration of President Muhammadu Buhari took over on May 29, 2015, a key issue that had dominated public discourse was the alleged massive corruption in Nigeria’s oil and gas industry and the need for a comprehensive reform to overhaul and usher in transparency and efficiency in oil and gas business.

Reports of various probes had alleged sharp practices perpetrated by key players in the industry, with allegations of missing money and unremitted oil revenues dominating the political and economic landscapes.

Buhari had before he assumed office, set up a Transition Committee in April 2015, which also added its voice to the urgent need for a reform of the oil and gas industry, specifically, recommending it overhaul.

The committee had in its 800- page report recommended an overhaul of the then corruptionridden state-run Nigerian National Petroleum Corporation (NNPC), and the removal of petrol and kerosene subsidies, among others.

Another key recommendation of the committee was a review of the contracts between the NNPC, and the international oil companies (IOCs) on one hand, and the contracts between the NNPC and oil traders on the other hand.

A quick passage of the old version of the PIB, which sought to create incorporated joint ventures (IJVs) between the IOCs and the NNPC, was also recommended.

The non-passage of the PIB had created uncertainty in the operating environment and hindered the needed investments in the oil and gas industry.

Restructuring NNPC/oil Contracts After the initial skepticism, the government commenced the reform with the personnel restructuring of the NNPC, which obviously required no legislative instruments.

Barely one month after Buhari had promised measures to improve the oil and gas sector at separate meetings with delegations from ExxonMobil and Nigeria LNG Limited, Dr. Ibe Kachikwu, who was then the Executive Vice Chairman and General Counsel of ExxonMobil (Africa), was named the Group Managing Director of the NNPC. Immediately on assumption of office, Kachikwu initiated a raft of measures targeted at personnel restructuring to enhance transparency and competitiveness of Nigeria’s operating environment.

The high point of the reform was the monthly publication of NNPC’s financial results to end the era when the corporation’s business was conducted in secrecy.

He also ordered a forensic audit of the NNPC, and pledged to split the Pipelines and Products Marketing Company (PPMC) into three portfolio companies that will manage the refineries, pipelines and supply of petroleum products, which has since been implemented.

In line with the recommendations of President Buhari’s transition committee, Kachikwu cancelled contracts with oil traders and called for fresh tender for oil lifting contracts.

The crude-for-products exchange arrangement popularly referred to as crude swap, under which few Nigerian downstream companies and Swiss traders shortchanged Nigeria, was replaced by a Direct-Sale–Direct-Purchase (DSDP) arrangement.

Before this administration took over, the crude-for-products arrangement was shrouded in secrecy as only top echelons of the NNPC knew the details of the deals and the identities of the companies that benefitted between 2010 and 2015, thus fueling the massive allegations of corruption that charaterised the scheme.

Kachikwu said he adopted DSDP to replace the Crude Oil Swap initiative and the Offshore Processing Arrangement so as to introduce and entrench transparency into the crude oil for product transaction by the NNPC in line with global best practices.

Matters, the late Dr. Rilwanu Lukman, to carry out the first comprehensive reform of the oil and gas industry.

Obasanjo left office before he could implement the National Oil and Gas Policy (NOGP) report that was submitted by the Lukman’s committee.

The late President Umaru Musa Yar’Adua reconstituted a new committee, also headed

by Lukman, on September 7, 2007.

Lukman’s new committee, which submitted its report on August 3, 2008, was mandated to “transform the broad provisions in the NOGP into functional institutional structures that are legal and practical for the effective management of the oil and gas sector in Nigeria�.

The PIB, which also seek to replace about 16 obsolete legislative and administrative instruments in Nigeria’s oil and gas industry and transform them into a single law, emerged from the report of these two committees.

Unfortunately, 17 years after the bill was submitted to the National Assembly, the reform bill has not been signed into law because of the politics associated with the fiscal regime and other controversial provisions, which the successive law makers could not resolve.

During the previous administrations, crude oil was exchanged for petroleum products through third party traders at a pre-determined yield pattern.

The present administration has also made the yearly lifting of Nigerian crude for the NNPC more transparent and competitive, involving more Nigerian companies, unlike in the past when only few Nigerian companies connived with international firms to corner the contracts under an opaque arrangement known to only the top management of the corporation.

Another major achievement of the present administration within the past two years was the country’s exit of the joint venture cash calls arrangements with the international oil companies operating in the country.

The country exited the JVs with an outstanding debt of $5.1 billion, to be paid over a period of five years through incremental oil production volumes.

With the savings to be made under the new arrangement, the federal government’s revenue is expected to increase by $2 billion annually, while Nigeria’s oil production will increase to 2.5 million barrels per day (mbpd) by 2019.

The development is also expected to result in a reduction in the unit technical production cost of oil from $27.96 per barrel to $18 per barrel.

The new model will also give the NNPC and the joint venture partners the opportunity to grow outside of the previous constraints of government’s inability to meet its obligations.

Militancy/crude oil production With the Amnesty Programme introduced in 2009 by the late President Umaru Musa Yar’Adua, Nigeria was able to ramp up oil production to 2.3 million barrels per day in 2013, following the return of peace to the oil producing Niger Delta region.

However, by 2015 when the current administration took over, crude theft and pipeline vandalism had forced a drop in production to about 2.1 million barrels per day.

After the present administration enjoyed what seemed like a honeymoon in the first seven months in office, production increased to over 2.2 million barrels per day in February 2016.

However, as the country was celebrating these achievements, there was a resurgence of militancy in the Niger Delta, led by the Niger Delta Avengers (NDA), which launched fresh attacks on oil facilities.

To restore peace in the region and boost

investments in the oil and gas sector, this administration launched the ‘7 Big Wins’.

The first of the Big Wins, according to the petroleum minister, was getting the Niger Delta stabilised through engagement, empowerment and enforcement.

The other aspect of the Big Wins is righting the wrongs through remediation and education.

After the apparent failure of military option to return peace to the Niger Delta, the dialogue initiated by Kachikwu and backed by the acting President, Prof. Yemi Osinbajo encouraged the militants to declare cease fire, thus allowing oil companies to ramp up production to the current level of about 2 million barrels per day.

Though the country’s current crude output of about 2 million barrels per day is still below the level inherited by the present administration in 2015, it is far above the 1.4 million barrels per day produced at the peak of militancy in 2016.

Passage of PIB The Senate under this regime has also passed the Petroleum Industry Governance Bill (PIGB), which would institute a new governance structure in the management of the nation’s oil industry assets and the NNPC, when concurred to by the House of Representatives and assented to by the president.

The PIGB is the first leg of the 17-year-old Petroleum Industry Bill (PIB), which has been broken into five separate bills by the 8th Senate.

The new bill scraps the NNPC, the Department of Petroleum Resources (DPR), the Petroleum Products Pricing Regulatory Agency (PPPRA) and several government agencies in the oil sector and now creates three new entities to oversee activities in the sector.

The three new entities are the National Petroleum Company (NPC), the National Petroleum Assets Management Commission (NPAMC) and the Nigeria Petroleum Regulatory Commission (NPRC).

Under the new governance structure, the NPC would be an integrated oil and gas company, operating as a fully commercial entity that will run like a private company, while the NPAMC would be a single petroleum regulatory commission, which would focus mainly on regulating the industry.

The PIB journey started on April 24, 2000 when the former President Olusegun Obasanjo set up the Oil and Gas Reform Implementation Committee (OGIC), headed by his then Honorary Special Adviser on Energy and Strategic

Failed reďŹ neries and unfulďŹ lled promises Despite the success achieved by the present administration in the area of opening up the oil and gas sector to public scrutiny and restoring the confidence of investors, the country’s refineries have defied what seems like the best efforts of the administration to make them work under NNPC management.

Desirous to make the refineries work, Kachikwu had in September 2015, as the then Group Managing Director of NNPC, given a 90-day ultimatum to the Warri Refining and Petrochemicals Company (WRPC), to commence full production at 125,000 barrels per day.

However, 18 months after the expiration of the ultimatum, the poor performance of the country’s refineries in Warri, Port Harcourt and Kaduna have forced the country to depend solely on imported petroleum products.

After failing to bring back the refineries to full production, the government is wooing private investors to invest in the old refineries and in the co-location of refineries.

The federal government in May 2016 took a bold step to encourage private sector to invest in the downstream and private refineries when it partially liberalised the downstream sector by ending the subsidy regime and increasing the pump price of petrol from N86.50 to N145 per litre.

But the challenge of accessing forex has hindered the private marketers from taking advantage of the opportunity to engage in massive importation of petroleum products, while few investors who wanted to invest in modular refineries went back to drawing board to review the project economics as a result of the high cost of forex.

Today, the country has returned to the era when NNPC was the sole importer of petroleum products, while the huge investments made by fuel markers in private depots continue to waste.

President Buhari’s transition committee had recommended the merging of the Ministry of Petroleum Resources and the Ministry of Power to form a new Ministry of Energy but this was not implemented by this administration.

Former President Obasanjo had created the Ministry of Energy to oversee the oil and gas industry but the late President Umaru Musa Yar’Adua split the ministry into the Ministry of Gas and the Ministry of Petroleum Resources, while a separate ministry was in charge of power.

However, former President Goodluck Jonathan later collapsed the Ministry of Gas into the Ministry of Petroleum and retained the power ministry, a structure, which the present administration has sustained.

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Power Sector Still Bedevilled The present administration inherited poor power supply in May 2015, owing to sundry problems, including shortage of gas, but steadily increased generation to an all-time peak of 5,074MW on February 2, 2016. Ejiofor Alike however reports that with current generation down below pre-privatisation levels amid buck passing by electricity operators, the past two years might have defied ‘Buharinomics’ When the present administration took over on May 29, 2015, the power sector was on its worst shape as it had crashed to 1,327 megawatts, exactly a week before the handover date, after many gas-fired power plants were shut down as a result of inadequate supply of gas.

Before the power sector was handed over to private investors on November 1, 2013, the country had attained generation of above 4,000MW. In fact, an all-time peak of 4,502.2MW was achieved on December 21, 2012, following an improvement in gas supply and better management of the water levels at the hydro power stations.

However, after the sector was handed over to the private investors, the new owners could not sustain and consolidate on the previous gains as attacks on gas pipelines left the sector with inadequate gas to fire the turbines.

Even when there was enough gas, the new owners of the generation companies could not pay for gas as a result of poor remittances by the distribution companies that sold the generated power.

It was not surprising that on May 22, 2015, exactly a week before the former President Goodluck Jonathan handed over power to President Muhammadu Buhari, power generation dropped to an unprecedented low of 1,327 megawatts, according to the Federal Ministry of Power.

According to the ministry, most key gas plants in the country, including those located at Utorogu, Chevron Oredo, Oben gas-fired power plants, were all shut down, while Ughelli and Chevron Escravos power plant had been isolated.

In the eastern axis, Shell Gas and Alakiri plants were also shut down, forcing power generation to drop to abysmally low level.

The affected power plants that were shut down as a result of the disruption in gas supply, included Egbin, Olorunsogo 1 and 11; Omotosho 1and Transformer 11, Geregu I and 11, Ibhonvor and Sapele on the western axis, and Alaoji on the eastern axis.

So, more than three years after the assets A strike by the Petroleum and Natural Gas Senior were handed over to private entities, supply has Staff Association of Nigeria (PENGASSAN) and continued to hover below the pre-privatisation the National Union of Petroleum and Natural Gas levels, while government and the private investors (NUPENG), over the transfer of operatorship of have continued their blame game, which still the Oil Mining Lease (OML) 42 to two indigenous hinges on the old excuses of sabotage and chronic companies, was blamed for the situation. underfunding. “The overall effect is that power supply which For instance, while the country’s power supply had started picking up steadily since the beginning has been hovering below 4,000 megawatts in of the week following repairs of various vandalised recent months, the country had on Saturday, portions of the ELP Line (Escravos-Lagos-Pipeline) December 21, 2012, hit an unprecedented peak and the Trans-Forcados Gas Pipelines, has fallen of 4,502.2 megawatts. to all-time-unprecedented low of 1,327m was at After this new peak, generation had stabilised 1.00 p.m. May22, 2015,� the power ministry had at 4,356.9 megawatts of electricity on December reportedly said.

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Before generation worsened to 1, 327MW on Before these milestones, the country’s power May 22, it had risen from 2,800MW on March 30 sector had attained a previous peak of 4,454.1 to a peak of 4,500MW on April 3, 2015. megawatts on December 19, 2012, after an earlier After the handover to the new administration, peak of 4,237 megawatts on August 8, 2012, the destruction of gas infrastructure in the Niger which was then the highest power output ever Delta ceased and Buhari enjoyed what was regarded generated in Nigeria. as honeymoon for about seven months.

With the improvement in gas supply to the Liquidity crisis power plants for seven months as a result of As the country was grappling with the destrucwhat was regarded as Buhari’s famous ‘body tion of the gas supply to the power plants after language,’ power generation rose steadily to hit the first seven months of this administration, an all-time peak to 5,074MW on February 2, 2016. there was a hike in the cost of foreign exchange, Before this new peak, the current administration which compounded the financial problems of the had first hit a previous peak of 4,883.9MW on private investors, who took over the power assets.

Monday, November 23, 2015.

According to the power reform agenda, the Indeed, Nigerians attested to the improvement government sold the power assets to the private in power supply at the early life of this administra- investors because they are better positioned to tion, which was attributed to the famous ‘body access funding to upgrade the assets, which were language’ of the President. grossly underfunded and poorly-managed by But barely two weeks after the 5,074MW peak, the federal government for over three decades. a new militant group – Niger Delta Avengers But with the rising cost of forex, coupled with (NDA) struck and bombed the Forcados pipeline, poor remittances by the distribution companies, eroding the gains of the previous seven months the new investors started lacking access to funding. in the power sector.

The blame games Pre-privatisation generation milestones Since the power generation worsened, the After the 5,074MW all-time generation level investors have blamed the federal government attained in February 2016, generation continued to for not abiding by the privatisation agreement drop steadily to its current level of below 4,000MW. and electricity consumers for failure to pay tariffs.

On its part, the government has also accused the companies of frustrating the attempts by the government to activate their agreements in the Transitional Electricity Market (TEM), which should bind them to objective service delivery.

While the generation and distribution companies have blamed poor supply on gas shortages and grid instability caused by weak transmission infrastructure; the Transmission Company of Nigeria (TCN) has also blamed the Discos for rejecting power allocated to them.

The TCN has also blamed the Gencos for collapsing the transmission infrastructure with low generation.

Gas suppliers have maintained that there is enough gas to generate power but that the generation companies cannot pay for gas.

The excuse by the Gencos for their inability to pay for gas is that they are being owed for the power they generated into the National Grid.

According to the Gencos, they are being owed by the Nigerian Electricity Bulk Trading Plc (NBET), better known as the Bulk Trader for the power generated into the National Grid.

NBET, on its part, has claimed that it has insufficient fund to pay the Gencos because the Discos make under-payment for the power they buy and distribute to their customers.

But excuse by the Discos is that the tariffs paid by customers are not cost-reflective for them to recover the actual cost of power and remit to NBET. They also blame their revenue shortfall on ministry, departments and agencies (MDAs) debts and failure of customers to pay electricity bill.

Funding interventions/escrow account To address the liquidity challenges, the federal government had approved N701 billion intervention fund to assist the members of the electricity value chain to meet their obligations.

But the electricity distribution companies under the aegis of the Association of Nigerian Electricity Distributors (ANED) argued that the

N701 billion fund has the potential to worsen revenue shortfalls bedevilling the power sector.

The Nigerian Electricity Regulatory Commission (NERC) has also resolved to escrow the accounts of the Discos to ensure that money realised from the power sector is distributed to all the members of the value chain – gas suppliers, Gencos, Discos, TCN and the regulators.

However, the Discos have opposed the move, saying that it would also send very wrong signals to investors that Nigeria is not fully open for private sector investment. “You cannot have a supposedly private sector-owned and managed business in which the government now seizes control of its revenues,� the Discos had argued.

The systemic blame games took a different dimension recently when the 26 Gencos requested the 11 Discos to come clean on why they opposed the open revenue management being planned by NERC. The Gencos accused the Discos of increasingly creating lots of suspicions among sector operators on their operational integrity.

The Gencos has also blamed the liquidity crisis in the power market on the Discos which they alleged have remained financially irresponsible in their obligations to the market.

The 26 Gencos, under the umbrella body of the Association of Power Generation Companies (APGC) insisted that the claim by the Discos that the escrow account proposal was an attempt by the government to nationalise their operation was unfounded.

So, after inheriting 1,327 megawatts of electricity in May 2015, following the temporary shutdown of several power plants over shortage of gas, the present administration had increased generation to an unprecedented peak of 5,074MW. But sundry problems in the sector has since forced generation down below 4,000MW, which is below the pre-privatisation levels, thus defying ‘Buharinomics’.

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T H I S D AY WEDNESDAY MAY 31, 2017

T H I S D AY WEDNESDAY MAY 31, 2017

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EDUCATION ‘JAMB Will Eliminate Mushroom CBT Centres to Protect Integrity of UTME’ Penultimate week, the Joint Admission and Matriculation Board(JAMB) concluded the conduct of its Unified Tertiary Matriculation Examination (UTME) which saw about 1.7 million candidates sitting for it. The Registrar, Professor Is-haq Oloyede who was in JKK CBT Centre, Lagos for onthe-spot assessment told Journalists including Funmi Ogundare that the board would by next year, no longer allow mushroom CBT centres to operate so as to protect the sanctity and integrity of the examination, among other issues Having gone round to monitor the last Unified Tertiary Matriculation Examination (UTME) conducted by the Joint Admission and Matriculation Board(JAMB) across the country, where about 1.7 million candidates sat for the examination, the board had observed the fraudulent practices carried out by some of the Computer Based Centres (CBT), despite some of the challenges such as manpower shortage; network and power failures it faced.

For instance, the board discovered that despite the poor standard of facilities at some of the CBT centres, they were collecting outrageous amount of money from poor and unsuspecting candidates aside the official amount of N5,500 to alter their registration online.

The Registrar of the board, Professor Is-haq Olanrewaju Oloyede expressed his displeasure over this issue saying, “ what we have seen is that we still have a long way to go , we have seen that our people are very clever and wise. For instance, when I was saying students must register the 10 fingers for biometric capturing, we didn’t know they were ahead of us. We have now been able to catch two persons who registered with different hands.

That means, the impersonator and the person being impersonated went in collaboration with some of these CBT centres and after screening them they paid the centres some money. We never imagined that somebody could go to that level. “When the candidates come up for the examination, by the time we test their fingers, we discovered that there were impersonators.

As they are creating such problem, we have to be ahead of them . We might not even need your fingerprints next year. There are other technologies that once you pass through them, everything about the candidate is captured , we will not even need to move in that direction. We believe that people should use their intelligence and education in a positive manner.

People are so criminally innovative and that is not helpful for planning.�

He believes that one fundamental mistake that people make, is for tutorial centres to also register students for CBT, saying, “ I think its a major error on our part, because they do every thing possible to make sure that they attract customers . They now have VIP rooms, where they will connect a cable to a special room and collect a lot of money from the special candidates. While we are in the exam hall conducting the exam, we will not know, and that was why we had to create an avenue from our server to monitor how many people are writing the exam. What we discovered is that they will be physically there but they are doing nothing. It is the people who are in the VIP rooms that are doing the exam for the VIP sitting in the exam hall and pretending to be writing the exam.�

Oloyede said most of the problems created during the registration were there as a result of non-compliance and centres not opening enough points. “Many of those mushroom centres do not deserve to be heard because they established CBT centre in order to defraud the innocent candidates. We have seen cases of some of them conniving with the students and giving them fake questions and by the time the candidates get to the exam hall, they will experience problems, � the registrar said He argued that most private schools were

Oloyede

extorting students by collecting a minimum of N15,000 for JAMB registration of N5,500 saying, “I can say 70 percent of them are doing this. The most sympathetic was the one that collected N8000 . They would go and register these candidates en masse and in the process of doing that, they miss the statistics of the students and when they question some of the CBT centre owners, they will deliberately make mistakes because they know they will collect N1000 from the candidates for editing. “By the time we put the results on our website asking people to go there and print their results, they will end up going to the cybercafĂŠ to print it where they will collect money from them.â€?

The registrar said the exam body will do a reassessment of some of the CBT centres, adding that the board had to disqualify four out of 69 centres in Lagos during the last examination. “Having gone round, of the figure, I do not see 30 centres being up-to-date and meeting our set rules. . It is one of the reasons why I will call on rectors, vice chancellors and provost, and well established bodies like JKK that we need to put our heads together to protect the sanctity of our examination , and create mega centres where we can have 10 centres in one.

That is taking 2500 candidates at once . “So we will encourage those who have the capacity to establish CBT centres, we will not allow private people to run the CBT privately.

One of the options we are looking at is that they should hand over to those who are managing

CBT centres and we accredit those managers and during our examination, they must not be around, � he said , adding that it would license people who would do the right thing such that if any student is not able to write the examination at the right time, there would a penalty they would pay to JAMB. Emphasising on why he decided to pick JKK as a point of interest, he said, “when I started CBT in 2007, It was with JKK. I initiated it in the same year I became vice chancellor in University of Ilorin (UNILORIN) and returned from a training from the United Kingdom(UK) on biometrics . I came back with the idea that for classes with more than 500 candidates, what is being done elsewhere is automated marking. So I had to invite JKK to UNILORIN to start the CBT. “I have seen that they have perfected our vision at that time because when you go round, you will see that it is the biometric centre unlike the mushroom ones that you have found. JKK is very important for me and that is why I picked it among other places. We also want to ensure that we put our heads together and see whether or not we should eliminate some of these mushroom centres who are there to make illegal money. “For us, the sanctity and integrity of the exam really matter to us. That is why we have seized all the means that the fraudulent centres employ. What is important to me is that those being defrauded deserve no sympathy.�

Reacting to the issue of using CCTV cameras at the centres, he said it is to enable the board

to see if there were incidents of examination malpractices and prevent a situation that would prevent candidates who did not pass exam to become agitated.

According to him, “ for some environmental reasons, we dont release the results immediately to ensure that we go through the rudiments of the CCTV camera to see what has happened, we want to see whether there has been incidents of malpractices. When we were saying there should be CCTV camera, people criticized me , but we were able to trace some persons who are now in police custody and even confessed.

One of them collapsed immediately he saw himself where he was hiding a phone. “If not that Nigerians value somethings for some reasons, my intention is to have withheld the results for one week, but people will still complain. The normal thing elsewhere is that after the exam, experts will sit down and view all the centres, but if we say we want to do that, some will say we want to doctor the results. There are certain things we do here because of environmental factors that are not done elsewhere.�

Oloyede however has a word for parents who help their children to cheat in examination saying, “I was at a CBT centre in Anthony, Lagos, and the parents were more than the candidates trying to see who they can talk to, to assist their children in the exam hall. We have gone this bad that parents do not even expect their children to respect them. If you go and arrange such a thing for your child, he may not have respect for you because he will know that you are a crook. “How can you say you are a good ambassador of your family when the child knows that the parent is a crook? That is why we are breeding all kinds of characters who are coming out in all facets of our public life because the family integrity has been eroded. I believe that by next year, we would have moved to another stage. To be licensed now for CBT, we have to ask more questions. “All those who are interested in training students for UTME, let them be just lesson room and if you want to be exam centre, then be an exam centre. For instance, a lesson teacher collected the email address of all the students and changed their passwords so that all the mails we sent to the candidates will go to the lesson teacher to defraud them. That was why we made the notification available on our website. We discovered that some of them have the registration numbers of these students and they were going on our website to do something that will be inimical to the candidates, such that if a candidates had registered in Lagos, they will change it to Calabar because they have access. “I don’t blame them, I blame the parents because they want their wards to have university education at all cost even when they are not matured enough for it. That is why they are following them all about. It is because they are not matured or prepared for tertiary education, that is why lecturers can harass them in the classroom. “I think we are getting it wrong. We should train these children in such a way that they would be able to protect and defend their integrity, rather than throw in the towel for anybody who is ready to defraud them. These people are paying N18,000 or N20,000 to fraudsters so the N5,500 is for what purpose?�

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EDUCATION

At NTIC, We also Mould Character Says Omeji Muazu Omeji, the Principal of the Nigerian Tulip International Colleges (NTIC) Abuja, explains the factors that have made the NTIC brand reliable and acceptable to Nigerians. He spoke recently to Uchechukwu Nnaike utmost attention to security issues. To cut the story short, after that incident, the management engaged the services of some security experts to run a security audit of our schools, which they did and made recommendations. As we speak, those recommendations are being implemented.

The management has on its own reviewed the security arrangement in all our schools. I bet if you go around our schools, you will be amazed at the level of security in place. For obvious reasons, I would not want to disclose some of the measures we have put in place. But I want to use this medium to assure parents that by the grace of God, that incident would not repeat itself.

A lot has been said about NTIC schools in Nigeria, how did it all begin?

The Nigerian Tulip International College (NTIC) is an educational institution run by the First Surat Group whose primary interest is in the areas of education and health with the single vision of building human resources and raising responsible individuals equipped with necessary skills and knowledge of the contemporary world. The story of NTIC began in 1998 in a rented two-bedroom apartment with a vision to become a household name in the education sector in Nigeria. And by the grace of God, through dedication and hard work, the school has grown tremendously.

In addition to high academic standard maintained over the years, NTIC schools have been successful in the area of good moral upbringing.

This has been acknowledged by both parents and students themselves. I want to attribute this success to the quality of teachers in the school. As a tradition, we have consistently employed quality staff placing a premium on both character and learning. Our students have blossomed into many success stories which have endeared the school to the general public.

Is there a place for Nigerian culture and values considering the fact that it is a Turkish school?

Yes there is of course. We run a comprehensive educational programme. The academic success of our students cannot be separated from the suitable and conducive environment they enjoy.

Just like our slogan of ‘The right environment for learning’, it is our belief that a combination of theoretical and practical approach to teaching is one of the most efficient ways of transmitting knowledge. We not only strive to make available high-quality classrooms for academic learning, but also modern laboratory and social clubs for our students to practice what they have learned in class.

We also realised that students need to excel in other areas of life such as sports, cultural activities and leadership to be able to be well grounded for the next phases of their lives. As a result, the school has introduced concepts like social club, cultural activities and sports facilities to serve as spaces for our students to develop their innate skills. Excursion activities and competitions are also organised to enable our students experience other cultures while their psychomotor domain is being exploited.

What can you say are your strong points as a school?

In NTIC, it is our belief that human beings are born as empty vessels which can be shaped by good values. As a result, morality is not an area we toy with. Attention is paid to character right from the point of admission. I think that is one of the reasons all our ex-students have remained good and worthy ambassadors of the school and the country as a whole. Part of what we do is employing hostel supervisors with good character and strong academic backgrounds.

They assist the students in their day to day activities in the school.

Just as in any secular institution, we offer CRK and IRK as subjects. Every student is at liberty to profess his or her religious ideals.

So, our students are not coerced into believ-

Omeji

ing or following a particular religious line of thought - both Muslim and Christian students coexisting with much respect for each other. At the end of every term, we grade academically and morally. And progress to the next class is dependent on these criteria.

What about the teaching staff?

As mentioned earlier, we do not compromise on quality and to remain above board in the field of teaching, quality of teaching staff must be taken seriously. As a result, our teachers are consistently trained and retrained on the modern pedagogy.

In addition, we have an internal mechanism for monitoring and appraising our teachers. In fact, before you are employed as a teacher in any of our schools, you must also pass our moral test regardless of your educational qualification.

There is also a feedback mechanism we have in place in grading our teachers. Now, you might want to ask why we do all of these.

The answer is this; the NTIC brand was built from scratch, and one of the promises we made to our parents was that, not only would we ensure academic excellence for their wards, we would also ensure that they would come out as good and worthy ambassadors in the society.

And as they say, trust is a burden. The burden is on us because parents and guardians have entrusted their children to us. And we have strived to keep that trust.

I think I should add that at NTIC, we believe that motivation is better than coercion in achieving set goals. We motivate our teachers to a great extent. In our school, only the best is good enough.

Given this, teachers are regularly retrained on modern pedagogy. There is also a window of opportunities for self-development for teachers

who wish to embark on further studies.

NTIC has been organising the national Mathematics competition for quite a while.

What is the motivation?

One of our core mandates is to collaborate with the federal government of Nigeria in providing quality education to her citizens.

And we have stayed faithful to this mandate.

We have had collaborations with the relevant educational institutions in the country, but worthy of mentioning is the collaboration with the National Mathematical Centre (NMC) in organising annual mathematics competition for primary five and six pupils across the country. The 14th edition of the competition was organised in February this year, where over 34,000 primary school pupils nationwide participated. Out of this figure, 16 outstanding students were offered full scholarship into NTIC schools. This is aside the over 100 pupils that were offered various levels of scholarships. As you know, the importance of mathematics at every level of academic struggle cannot be over emphasised. So, we are simply motivated by our desire to promote teaching and learning of the subject. In addition to scholarship, we usually give out cash reward to schools and teachers of pupils who distinguish themselves in the competition.

In terms of security, there was a kidnap incident in one of your schools recently, what has the authorities done to forestall future recurrence?

Yes it is indeed very unfortunate but thank God our students were released unharmed. Actually, even before the incident, we have always paid

Is it safe to say the NTIC brand is a huge success? Can you share some of your success stories?

First of all, the NTIC brand was built on high academic standards as I mentioned earlier and that is largely the story behind our success.

However, success can only be measured by your track records and achievements. So the NTIC has a verifiable history. Just recently, we received a letter of commendation from the Federal Ministry of Science and Technology for producing the second youngest Nigerian scientist. Also, NTIC was proclaimed the best school in mathematics by the NMC. The Minister of State for Education, Prof. Anthony Anwuka commended the NTIC community on their outstanding achievements in Nigeria. The NMC also expressed its satisfaction in collaborating with NTIC. It is also worthy of mention that the NTIC is the pioneer organiser of the International Science Olympiad. We have represented Nigeria as ambassador in the field of education in the international arena. We won six gold, seven silver and 10 bronze medals in Pan-African Mathematics Olympiad this year. So far, we have in our kitty 205 international medals from the various international competitions that students of NTIC represented Nigeria.

This reaffirms the fact that Nigeria can take a leading role in Africa and the world as a whole. NTIC as a school has been known for her success and excellent performance in national and international competitions. It has continued to produce champions who are competing favorably across the globe in their various fields of endeavors. In the 2016 edition of the National Science Olympiads, NTIC was awarded the best school in three categories following their outstanding performance.

Our primary objective is to prepare students for useful living within the society, and higher education. Specifically it seeks to provide all primary school leavers with the opportunity for education of higher level irrespective of sex, social status, religious or ethnic background.

We offer a diversified curriculum to cater for differences in talents, opportunities, and future roles to provide trained workforce in applied science, technology, and commerce at sub-professional grades. We also take pride in our ex-students. The alumni department follows up on our former students to ensure that they pursue their careers in the most efficient manner.

This quality relationship has made some alumni return after their studies and become part of the NTIC family.

BinghamVarsity Staff Down Tools Over Non Payment Of Salaries Kuni Tyessi, Abuja Academic and non-academic staff members of Bingham University, Karu, Nasarawa state, have excused themselves from their duty posts as a result of several months unpaid salaries and other allowances, to press home their demands.

The faith-based institution owned by the Evangelical

Church Winning All, formerly Evangelical Church of West Africa (ECWA), has continued to owe its staff including those of essential duties such as cleaners and security personnel 8 months salary with no payment date in sight.

Investigations have revealed that students of the department of Medicine who pay as much as over one million as tuition are the only set of students

receiving lectures in the ivory tower from some few lecturers who have volunteered to teach, despite the non-payment of allowances.

Staff and students who spoke with THISDAY on condition of anonymity, revealed that the school management, in order to hide its inefficiency, had directed them to go home after the yuletide celebrations on the grounds that male and female

hostels would be renovatedas a result of dilapidation from heavy rainstorm and exposure to other elements. However, to their dismay, the hostels were unattended to when they were requested to resume.

The students expressed regret that they have just been left to their fate and have become wanderers within the school premises, and that social amenities and infrastructure

have completely broken down with malfunctioning heaters and showers as well as the generating set hardly been powered to provide light for reading at night.

Two academic members of staff who accepted to speak with THISDAY on telephone, had accused the Vice Chancellor, Proffesor Samuel Leonard KursimFwa of high-handedness

and a leader that has become inconsiderate to the working conditions of staff as well as their welfare.

According to them, “the school management told us to go home after the Christmas break and promised that some parts of the school, especially the hostels would be renovated.

We left and came back to meet everything just as we had left them.�

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Lagos@50: Titled Chiefs Reward Essay Contest Winners Funmi Ogundare For their creativity, winners of the essay writing competition with the theme, ‘Building a Better Lagos for the Future’, in support of Lagos @50, have been rewarded by the Association of Lagos Titled Chiefs.

They are; Miss Olayinka Esther Mohammed of Ikorodu Senior Grammar School, Ikorodu, Master Gideon Ogundeko of United High School, Ikorodu and Miss Boluwatife Calfos of Eko Akete Grammar School, Lagos. They emerged the first, second and third positions, respectively, and received cash prizes, certificates and plaques, while their various schools also got trophies for their effort.

They were shortlisted out of 30 students that sat for the essay competition organised by the association on May 20, and tested on the knowledge of Lagos affairs, versatility on content, organisation, expression, accuracy, as well as the efforts of the past and current administration of the state and how to build a better Lagos.

In her essay, Miss Mohammed who clinched the first prize, said, “Lagos state would not be a complete mega city state of my dream if these are not included in the future governance of Lagos State. An integrated public transportation management system for transportation across Lagos

state, improved effective security system, education standard to world standards, improved health services and among all, employment of our graduating youths every year. “With all these in summary, I think building a better Lagos for the future will be effective and efficient for me and for the rest of Lagosians, where everyone is born equal.�

She expressed excitement about her prize noting that she was able to arrange the content of the essay very well for it to have won her the first position.

Speaking at the awards ceremony, held recently, at the Yoruba Tennis Club (YTC), Lagos Island, the President of the Association, Chief Iyabo Foresythe, who expressed optimism that the programme will be done yearly, advised the students to face their studies and be good representatives of the communities.

The Chairman, Planning Committee, Lagos@50, Bashorun John K.Randle commended the state government for its efforts in improving education in public schools and called for more involvement of the private sector, individuals and faith-based organisations in the total reform of the education landscape of Lagos.

He also lauded the efforts of the past and current administrations in building

a better Lagos for the future through incremental developments.

He said the competition is designed to recognise the important role that young people can play towards building a better Lagos for the future, adding that it was opened to interested individual students aged between 15 and 18 from the state public senior secondary schools. “The essays written by the 30 shortlisted students showed the quality of education received in public schools in Lagos state.

The students would definitely have no problems passing English language examination, both internally and externally in flying colors. The competition no doubt brought out the quality of students in the public schools that can excel in any examination,� Randle stressed.

He congratulated the awardees, teachers and school administrators for the deserved honour saying, “your being recognised as best students in the competition on the occasion of Lagos@50, will highly inspire other students in Lagos state public schools.�

The Lagos State Governor, Mr. Akinwunmi Ambode commended the association for putting the competition together, while expressing delight that the students from public schools performed well.

The Principal, Ikorodu Senior Grammar School, Mrs. Jumoke Okuselu; President, Association of LagosTitled Chiefs, Chief Iyabo Foresythe; winner of the essay writing competition, Miss Olayinka Esther Mohammed; Chairman, Lagos @ 50 Planning Committee, Chief John K. Randle during the presentation of awards and cheque to the winner in Lagos...recently

FG Approves New Private Polytechnic in Ekiti The Federal Government has approved a new private polytechnic; Ajayi Polytechnic Ikere-Ekiti, Ekiti State, to meet the educational need of the country’s teaming youths and complement government efforts.

The Executive Secretary of National Board for Technical Education (NBTE), Dr. Musa ‘udu Adamu Kazaure, who conveyed the federal government’s approval through a letter dated May 16, 2017, delivered by the Honourable Minister of Education to the founder of Ajayi Polytechnic Ikere-Ekiti, Ekiti State, Dr. Busayo Ajayi, said the move would help restore the diminished glory of the nation’s education system.

The Founder, Dr. Busayo Ajayi said the establishment of the polytechnic in his home town, Ekiti State was in fulfilment of God’s promise, adding that the institution is aimed at raising giants through inclusive entrepreneurship and innovative technological education.

He said the admission into the polytechnic for the education sector, at this time, will assist in defending the integrity of education and promoting best practices to remedy.

Ajayi expressed concern about the dysfunctional tertiary education in the country, saying that this has resulted in graduates that are not adequately prepared to face the challenges of either working in an organisation or venturing into business. “Ajayi Polytechnic is equipped to run all programmes prescribed for polytechnic system and innovative studies at National Diploma and Higher National Diploma levels. The institution is expected to take off with National Diploma in Electrical/ Electronic Engineering, Computer Science, Computer Engineering, Statistics and Accountancy for 2017/2018 academic session,� he said As a way of raising industrial giants and training entrepreneurs that would

make immeasurable generational impact, the founder said the polytechnic has commenced a three-month certificate courses and six-month diploma programme in Information and Communication Technology (ICT), Computer Engineering, Information Systems, Software Engineering.

Design and Technology, Web Technology, Computerised Accounting, Data Analysis, Business Analysis, Multimedia, among other programmes adding that students will be equipped with the requisite skills they need to be more employable or get themselves established at the end of the day.

He reassures prospective students of the institution of a very conducive learning environment, spacious sporting ground with functional facilities in both temporary and permanent sites of the institution and promised to make the polytechnic a leading centre of excellence in knowledge, moral and vocational development in Africa.

The Importance of Easter Hare As it is with other major festivities like when you hear of Christmas, you think of Santa Claus/Father Christmas, when you hear Easter, you think of the Easter Hare or Easter Bunny and, of Easter Eggs. There is a story behind this as this is not a bible requirement. Since Ancient times, rabbits have been associated with spring. In the same vein according to history across races, the egg is an ancient symbol of new life. It has been associated with pagan festivals celebrating spring. The Easter Hare (as you’d find on many Easter cards for instance) is a fantasy character depicted as a rabbit bringing Easter eggs.

Albeit, you won’t find them in the Bible, but many cherished Easter traditions have been around for centuries. The most prominent secular symbol of the Christian holiday, the Easter hare reportedly was introduced to America by the German immigrants who brought over their stories of an egg-laying hare. The decoration of eggs is believed to date back to at least the 13th century, while the rite of the Easter parade has even older roots. Other traditions, such as the consumption of Easter candy, are among the modern additions to the celebration of this early springtime.

Rabbits and hares are both prolific procreators. Female hares can conceive a second litter of offspring while still pregnant with the first. These animals mature sexually at an early age and can give birth to fifteen several litters a year. They typically mate with purpose and vigour at spring time and over the centuries, have become fertility symbols.

The Easter Hare’s origins are routed in 13th Century pagan Germany. The deity known as Eostra was the goddess of spring and fertility and feasts were held in her honour.

Her symbol was the rabbit because of the animal’s high reproduction rate. As Christianity spread across Europe, the pagan festival of Eostre was assimilated with Christian culture, including its symbols of rabbit and the egg. It seemed suited then to celebrate the resurrection of Jesus at spring. The spring celebration of Easter, which even takes its name from Eostre, was therefore born.

Eggs have long been associated with Easter as a symbol of new life and Jesus’ resurrection. Easter eggs are decorated eggs that are given as presents to celebrate Easter. In older times, dyed or painted boiled chicken eggs were used. Decorating eggs for Easter dates back to at least the 13th century. The most valuable Easter eggs ever were the jewel-encrusted ‘Faberge eggs’ crafted in the late 1800s and early 1900s as Easter gifts for the families of Russian Czars. Only 65 are known to have been made and they are worth millions of dollars. According to the Guinness World Record, the world’s largest Easter egg was made of chocolate in 2005 in Belgium and weighed 1,200kg. Dying eggs red symbolized the blood of Jesus Christ. The hatching of an egg symbolized the resurrection.

The Easter egg is a prominent delicacy at the end of Lent.

Many families give up eggs during the fasting days and eat the decorated eggs on Easter Sunday. The modern practice is to substitute with chocolate eggs, or plastic eggs filled with confectionery like jelly beans (as they are egg shaped) and chocolates. Like rabbits and hares, eggs are fertility symbols from ancient times. Since birds lay eggs and rabbits and hares give birth to large litters in the early spring, these became symbols of the renewed fertility of the earth around early spring time of each year. From a Christian perspective, Easter eggs are said to represent Jesus’ emergence from the tomb and his resurrection. Christians consider eggs to be “the seed of life� and so they are symbolic of the resurrection of Jesus Christ. People celebrate Easter according to their beliefs and their religious denominations.

Christians commemorate Good Friday as the day that Jesus Christ died and Easter Sunday as the day that he resurrected. On Easter Sunday, many children wake up to find that “the Easter Bunny� (mum or dad) has left them baskets of sweets and chocolates. They find that he/she has also hidden the eggs that they decorated earlier that week. Children hunt for the eggs all-round the house. Children’s schools or Sunday schools hold Easter egg hunts, and the child who finds the most eggs wins a prize.

Some might argue that Easter is not worth celebrating in spring and that the hare and her eggs are not traditions to observe by the Christian. We must however remember that th timing and symbols used during this season of Christian worship are only commemorative of the death and resurrection of Jesus Christ, the saviour of the world.

Omoru writes from the UK .

Omoru writes from the UK

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RUNNING THE CLASSROOM

Nigerian Students Shine with Prestigious British Council Awards Peace Obi In an effort aimed at recognsing the exceptional performances of some Nigerian students at Cambridge examinations, the British Council and Cambridge International Examinations have honoured 58 students with various categories of awards.

The three categories of awards which recognised the outstanding achievements of students in Nigeria in the November 2015 and June 2016 Cambridge examinations series, had eights students honoured with the prestigious ‘Top in the World’ awards, which saw 49 students taking the ‘Top in Nigeria’ while three others were presented with the ‘Best Across’ awards.

Eights recipients of the ‘Top in the World’ awards were also recognised for gaining the highest standard of marks in the world in a single subject, while the 49 students who were honoured with the ‘Top in Nigeria’ awards and three students who received ‘Best Across’ got the awards for attaining the highest cumula-

tive total standard marks over a set of subjects. The event also saw two British Council partner schools being recognised for their work in implementing Equality, Diversity and Inclusion (EDI) and child protection policies.

Speaking during the inaugural British Council recognition and outstanding Cambridge learner awards, held recently, in Lagos, the Regional Director, Sub-Saharan Africa, Cambridge International Examinations, Juan Visser, said the awards event is designed to recognise the exceptional performance of learners around the world in Cambridge examinations, adding that it’s programmes help learners reach their potential and ensure a lifelong love for learning and passion for discovery.

According to him, “the awards reflect the talent and hard work of learners, and acknowledge the dedication and commitment of both teachers and parents. It is extremely encouraging to see the growth in popularity of Cambridge examinations in

Nigeria. 2015 and 2016 were excellent academic years for Cambridge learners in Nigeria who have demonstrated enormous talent, hard work and a strong passion for learning. It is rewarding to witness learners’ dedication and commitment to education, and to acknowledge the support provided by schools and families. We hope that this recognition of your academic success will encourage you in your future and careers.�

The Director, Nigeria British Council, Connie Price, said being UK’s principal cultural relations organisation, that works with diverse individuals, communities and organisations, it aims to develop sustainable partnership and relationships that is based on mutuality. “Across the country, we continue to build on our innovative work in the arts, education, English, exams, society, peace building and gender equality to integrate it with our work with young people. At the focal point of our work are our policies which include equality, diversity; inclusion and child protection,� she said.

In his remarks, the former Governor of Ondo State, Dr. Olusegun Mimiko who congratulated the awardees, encouraged them to remain good ambassadors of their families, communities and the country at large. He advised them to positively apply the knowledge and opportunity their access to British education presents, saying, “you have the opportunity to take this country to the next level.�

One of the recipients of the ‘Top in the World’ awards Honour, who is a student of the Greensprings Schools, Lagos, Master Olatunji said his love and passion for Mathematics has increased since he learnt about his award.

Olatunji who intends to study Electrical/Electronics in Massachusetts Institute of Technology expressed his delight about the honour, saying , “I found the Cambridge curriculum very interesting because it is skills-based and makes you think critically. It was really helpful in exposing and preparing me to do well in international schools and universities in future.�

The Administrator, Bridgehouse College, Ikoyi, Ms Carmen Latty, Vice Principal II, Mr. Richard Balogun, a former student of the college, Master Oluwamuyiwa Yusuf , Head of Counselling and Placement, Mrs. Bisi Banjo, another student, Miss Damilola Ogunlana, Principal, Mrs. Uche Emeanu, and Head of marketing Mrs. Mowunmi Fatodu, during a media briefing in Lagos...recently

CHIOMA ERUOTOR

Identifying and Nurturing Your Child’s Intelligence ĂŁ Ă˜Ă‹ĂžĂ&#x;ĂœĂ?Ëœ Ă?Ă Ă?ĂœĂŁ Ă?Ă’Ă“Ă–ĂŽ Ă“Ă? ÚËĂ?Ă•Ă?ĂŽ åÓÞÒ Ă?Ù×Ă? Ă˜Ă‹ĂžĂ&#x;ĂœĂ‹Ă– Ă?Ù×ÚÙĂ?Ă“ĂžĂ“Ă™Ă˜Ă? ĂĄĂ’Ă“Ă?Ă’ ÙʰĂ?Ă˜ ĂŽĂ?ĂžĂ?ĂœĂ—Ă“Ă˜Ă? ÞÒĂ? Ă?Ă’Ă“Ă–ĂŽËŞĂ? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă“Ă˜Ă?Ă–Ă“Ă˜Ă‹ĂžĂ“Ă™Ă˜Ë› Ă?Ă“Ă?Ă˜ĂžĂ“Ę¨Ă? Ă?ĂžĂ&#x;ĂŽĂ“Ă?Ă? Ă’Ă‹Ă Ă? Ă?Ă’Ă™ĂĄĂ˜ ÞÒËÞ Ă‘Ă?Ă˜Ă?ÞÓĂ?Ă? Ă“Ă? ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă“ĂŒĂ–Ă? Ă?Ă™Ăœ Ͳ͎͎̋͜ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? Ă“Ă˜ĂžĂ?Ă–Ě‹ Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ“Ă™Ă˜Ë› Ă’Ă?Ă?Ă? Ă‘Ă?Ă˜Ă?ÞÓĂ?Ă‹Ă–Ă–ĂŁ ĂŒĂ‹Ă?Ă?ĂŽ Ă?Ù×ÚÙĂ?Ă“ĂžĂ“Ă™Ă˜Ă? Ă?Ă‹Ă˜Ă˜Ă™Ăž ĂŒĂ? ĂœĂ?ĂŽĂ&#x;Ă?Ă?ĂŽ Ă™Ăœ Ă“Ă˜Ă?ĂœĂ?Ă‹Ă?Ă?ĂŽËž ÞÒĂ?ĂŁ Ă?Ă‹Ă˜ Ă™Ă˜Ă–ĂŁ ĂŒĂ? Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă?ĂŽ ĂŒĂŁ Ă?ĂœĂ?Ă‹ĂžĂ“Ă˜Ă‘ ÞÒĂ? ĂœĂ“Ă‘Ă’Ăž Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜Ăž ĂĄĂ“ĂžĂ’Ă“Ă˜ ĂĄĂ’Ă“Ă?Ă’ ÞÒĂ?ĂŁ Ă?Ă‹Ă˜ ĂŒĂ? Ă?Ă˘ĂšĂœĂ?Ă?Ă?Ă?ĂŽË› Ă&#x;Ă?Ăž Ă‹Ă? ÞÒĂ? Ă?Ă‹ĂœĂ—Ă?Ăœ Ă?Ă‹Ă˜Ă˜Ă™Ăž Ă“Ă—ĂšĂœĂ™Ă Ă? Ă™Ăœ ĂŽĂ?Ă?ĂžĂœĂ™ĂŁ ÞÒĂ? Ă›Ă&#x;ËÖÓÞã Ă™Ă? ÞÒĂ? Ă?Ă?Ă?ĂŽ Ă’Ă? Ă’Ă‹Ă?Ëœ Ă’Ă? Ă?Ă‹Ă˜ Ă™Ă˜Ă–ĂŁ Ă?Ă˜Ă’Ă‹Ă˜Ă?Ă? Ă“ĂžĂ? Ă‘ĂœĂ™ĂĄĂžĂ’ ĂŒĂŁ ĂšĂœĂ™ĂšĂ?Ăœ Ă?Ă&#x;Ă–ĂžĂ“Ă Ă‹ĂžĂ“Ă™Ă˜Ëœ ĂšĂ–Ă‹Ă˜ĂžĂ“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?Ă™Ă˜ĂŽĂ“ĂžĂ“Ă™Ă˜Ă“Ă˜Ă‘ Ă™Ă? ÞÒĂ? Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜Ăž ̙ÞÒĂ? Ă?ÙÓÖ̚˛ Ă˜ ÞÒĂ? Ę¨ĂœĂ?Ăž ĂšĂ‹ĂœĂž Ă™Ă? ÞÒÓĂ? Ă‹ĂœĂžĂ“Ă?Ă–Ă? Ă?Ă?Ă‹ĂžĂ&#x;ĂœĂ?ĂŽ Ă“Ă˜ ÞÒĂ? Ă–Ă‹Ă?Ăž Ă?ĂŽĂ“ĂžĂ“Ă™Ă˜Ëœ Ă&#x;Ă?Ă?ĂŽ ÞÒĂ? Ă?âË×ÚÖĂ? Ă™Ă? Ă‹ ĂŒĂ&#x;Ă? Ă?Ă™Ă˜ĂŽĂ&#x;Ă?ĂžĂ™Ăœ ÞÙ Ă?ÒÙå ÒÙå Ă?Ă Ă?ĂœĂŁĂŒĂ™ĂŽĂŁ Ă“Ă? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜ĂžËœ Ă™Ă˜Ă? ĂĄĂ‹ĂŁ Ă™Ăœ ÞÒĂ? ÙÞÒĂ?ĂœËœ ÞÒĂ? ĂĄĂ‹ĂŁ ĂĄĂ? Ă?Ă’Ă‹Ă˜Ă˜Ă?Ă– Ă‹Ă˜ĂŽ Ă?Ă˘ĂšĂœĂ?Ă?Ă? Ă™Ă&#x;Ăœ Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ÒÙåĂ?Ă Ă?Ăœ ĂŽĂ“ĘĽĂ?ĂœĂ?Ë› Ă?Ă“Ă˜Ă‘ Ă—ĂŁ ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă?ĂžĂ™ĂœĂŁËœ Ă‹Ă–Ă?Ă™ Ă?ÒÙåĂ?ĂŽ ÒÙå Ă?Ă’Ă‹Ă˜Ă‘Ă?Ă? Ă“Ă˜ ÞÒĂ? Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜Ăž Ă?Ă‹Ă˜ Ă‹ĘĽĂ?Ă?Ăž ÞÒĂ? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ ĂŒĂŁ Ă‹ Ă?Ă’Ă“Ă–ĂŽË› ÖÞÒÙĂ&#x;Ă‘Ă’ Ă‘ĂœĂ?Ă‹Ăž Ă?×ÚÒËĂ?Ă“Ă? Ă’Ă‹Ă? ĂŒĂ?Ă?Ă˜ ÚÖËĂ?Ă?ĂŽ Ă™Ă˜

Ùà Ă?Ăœ ÞÒĂ? ĂŁĂ?Ă‹ĂœĂ?Ëœ ĂœĂ?Ă?Ă?Ă˜Ăž Ă?ĂžĂ&#x;ĂŽĂ“Ă?Ă? Ă’Ă‹Ă Ă? Ă?Ă’Ă™ĂĄĂ˜ ÞÒËÞ ĂšĂ?ÙÚÖĂ? ĂĄĂ’Ă™ ĂŽĂ™ ĂĄĂ?Ă–Ă– Ă“Ă˜

ĂžĂ?Ă?ĂžĂ? Ă?Ù×Ă?ÞÓ×Ă?Ă? ĂŽĂ™ Ă˜Ă™Ăž ĂŽĂ™ ĂĄĂ?Ă–Ă– Ă“Ă˜ ĂœĂ?Ă‹Ă– Ă–Ă“Ă?Ă? Ă?Ă“ĂžĂ&#x;Ă‹ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ ÞÒËÞ Ă—Ă?Ă˜ĂžĂ‹Ă– ĂžĂ?Ă?ĂžĂ? Ă‹ĂœĂ? ÙʰĂ?Ă˜ Ă˜Ă™Ăž ĂšĂ?ĂœĂ?Ă?Ă?Ăž ĂšĂœĂ?ĂŽĂ“Ă?ĂžĂ™ĂœĂ? Ă™Ă? ĂœĂ?Ă‹Ă– ĂĄĂ™ĂœĂ• ĂšĂ?ĂœĂ?Ă™ĂœĂ—Ă‹Ă˜Ă?Ă? Ă™Ăœ Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ë› Ă˜ ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă? ÞÙ ÞÒĂ?Ă?Ă? Ę¨Ă˜ĂŽĂ“Ă˜Ă‘ Ă—Ă?ĂœĂ“Ă?Ă‹Ă˜ Ă?ĂŁĂ?ÒÙÖÙÑÓĂ?ĂžËœ Ă™ĂŒĂ?ĂœĂž ĂžĂ?ĂœĂ˜ĂŒĂ?ĂœĂ‘ ÞÙÙÕ Ă‹ ĂŽĂ“Ă Ă? Ă‹ĂĄĂ‹ĂŁ Ă?ĂœĂ™Ă— ÞÒĂ? ĂžĂœĂ‹ĂŽĂ“ĂžĂ“Ă™Ă˜Ă‹Ă– Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ Ă™Ă? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ĂŒĂŁ ĂšĂœĂ™ĂšĂ™Ă?Ă“Ă˜Ă‘ ÞÒĂ? ĂžĂ’ĂœĂ?Ă? ĂšĂ‹ĂœĂž ÞÒĂ?Ă™ĂœĂŁ Ă™Ă? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë› Ëž Ă˜Ă‹Ă–ĂŁĂžĂ“Ă?Ă‹Ă– Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ě™ Ă?ÒÙÙÖ Ă—Ă‹ĂœĂžĚš Ëž ĂœĂ?ËÞÓà Ă? Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ëž ĂœĂ‹Ă?ÞÓĂ?Ă‹Ă– Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă?ĂœĂ? Ă“Ă? Ă‹ Ă?Ă&#x;Ă—Ă—Ă‹ĂœĂŁ Ă™Ă? Ă?Ă‹Ă?Ă’ ÞãÚĂ? Ă™Ă? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë› Ă“Ă?Ă&#x;Ă‹Ă–Ëš ÚËÞÓËÖ Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? Ă’Ă“Ă? ÞãÚĂ? Ă™Ă? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă“Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ ĂŒĂŁ ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ Ă Ă“Ă?Ă&#x;ËÖÓäĂ? Ă?ÓÞÒĂ?Ăœ åÓÞÒ ÞÒĂ? ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă?ĂŁĂ? Ă™Ăœ ÞÒĂ? Ă—Ă“Ă˜ĂŽËŞĂ? Ă?ĂŁĂ?Ë› Ă?ÙÚÖĂ? åÓÞÒ Ă’Ă“Ă‘Ă’ Ă Ă“Ă?Ă&#x;Ă‹Ă–ËšĂ?ÚËÞÓËÖ Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ĂžĂ?Ă˜ĂŽ ÞÙ ĂŒĂ? Ă Ă?ĂœĂŁ Ă‹ĂĄĂ‹ĂœĂ? Ă™Ă? ÞÒĂ?Ă“Ăœ Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜ĂžËž ÞÒĂ?ĂŁ Ă‹ĂœĂ? Ă Ă“Ă?Ă&#x;Ă‹Ă– Ă“Ă˜ Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?Ă‹Ă˜ ĂŒĂ? ÞËĂ&#x;Ă‘Ă’Ăž ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂŽĂœĂ‹ĂĄĂ“Ă˜Ă‘Ă?Ëœ ĂšĂ’Ă™ĂžĂ™Ă‘ĂœĂ‹ĂšĂ’Ă?Ëœ Ă Ă“ĂŽĂ?Ă™Ă?Ëœ Ă?Ă’Ă‹ĂœĂžĂ?Ëœ Ă Ă?ĂœĂŒĂ‹Ă– Ă‹Ă˜ĂŽ ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă“Ă—Ă‹Ă‘Ă?ĂœĂŁË› Ă“Ă˜Ă‘Ă&#x;Ă“Ă?ÞÓĂ?˚à Ă?ĂœĂŒĂ‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? Ă’Ă“Ă? Ă“Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ ĂŒĂŁ ÞÒĂ? Ă‹ĂŒĂ“Ă–Ă“ĂžĂŁ ÞÙ Ă&#x;Ă?Ă? ĂĄĂ™ĂœĂŽĂ? Ă?ĘĽĂ?Ă?ÞÓà Ă?Ă–ĂŁË› Ă’Ă?Ă?Ă? Ă–Ă?Ă‹ĂœĂ˜Ă?ĂœĂ? Ă’Ă‹Ă Ă? Ă’Ă“Ă‘Ă’Ă–ĂŁ ĂŽĂ?Ă Ă?ÖÙÚĂ?ĂŽ Ă‹Ă&#x;ĂŽĂ“ĂžĂ™ĂœĂŁ Ă?Ă•Ă“Ă–Ă–Ă? Ă‹Ă˜ĂŽ ÙʰĂ?Ă˜ ĂžĂ’Ă“Ă˜Ă• Ă“Ă˜ ĂĄĂ™ĂœĂŽĂ?Ë› Ă’Ă?ĂŁ Ă–Ă“Ă•Ă? ĂœĂ?Ă‹ĂŽĂ“Ă˜Ă‘Ëœ ĂšĂ–Ă‹ĂŁĂ“Ă˜Ă‘ ĂĄĂ™ĂœĂŽ Ă‘Ă‹Ă—Ă?Ă?Ëœ Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă&#x;Ăš ÚÙĂ?ĂžĂœĂŁ Ă™Ăœ Ă?ĂžĂ™ĂœĂ“Ă?Ă?Ë› Ă’Ă?ĂŁ Ă?Ă‹Ă˜ Ă?Ă‹Ă?Ă“Ă–ĂŁ Ă–Ă?Ă‹ĂœĂ˜ ĂĄĂ’Ă?Ă˜ Ă–Ă?Ă?Ă?Ă™Ă˜Ă? Ă‹ĂœĂ? Ă“Ă˜ Ă?ĂžĂ™ĂœĂ“Ă?Ă? Ă‹Ă˜ĂŽ Ă˜Ă‹ĂœĂœĂ‹ĂžĂ“Ă™Ă˜Ă? Ă?Ă™ĂœĂ—Ă‹ĂžĂ?Ë› ÙÑÓĂ?Ă‹Ă–Ëš ËÞÒĂ?×ËÞÓĂ?Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? ÞÒÓĂ? Ă“Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ ĂŒĂŁ ĂœĂ?Ă‹Ă?Ă™Ă˜Ě‹ Ă“Ă˜Ă‘ Ă‹Ă˜ĂŽ Ă?Ă‹Ă–Ă?Ă&#x;Ă–Ă‹ĂžĂ“Ă˜Ă‘ Ă‹ĂŒĂ“Ă–Ă“ĂžĂ“Ă?Ă?Ë› Ă?ÙÚÖĂ? åÓÞÒ Ă’Ă“Ă‘Ă’ ÖÙÑÓĂ?ËÖ˚×ËÞÒĂ?×ËÞÓĂ?Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă‹ĂœĂ? Ă‹ĂŒĂ?ĂžĂœĂ‹Ă?Ăž Ă‹Ă˜ĂŽ Ă‹ĂœĂ? Ă‹ĂŒĂ–Ă? ÞÙ Ă?Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ă˘ĂšĂ–Ă™ĂœĂ? ÚËʾĂ?ĂœĂ˜Ă? ÞÒĂ?ĂŁ Ă–Ă“Ă•Ă? ÞÙ Ă?âÚĂ?ĂœĂ“Ă—Ă?Ă˜Ăž Ă‹Ă˜ĂŽ Ă?ÙÖà Ă? ĂšĂ&#x;ääÖĂ?Ă?Ë› ÙÎÓÖã˚ Ă“Ă˜Ă?Ă?ÞÒĂ?ÞÓĂ? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? Ă?ÙÚÖĂ? åÓÞÒ Ă’Ă“Ă‘Ă’ ĂŒĂ™ĂŽĂ“Ă–ĂŁËšĂ•Ă“Ă˜Ă?Ă?ÞÒĂ?ÞÓĂ? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ÚÙĂ?Ă?Ă?Ă?Ă? Ă’Ă“Ă‘Ă’ Ă?Ă?Ă˜Ă?Ă? Ă™Ă? ĂŒĂ™ĂŽĂŁ Ă‹ĂĄĂ‹ĂœĂ?Ă˜Ă?Ă?Ă?Ë› Ă’Ă?ĂŁ Ă?Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ? ĂĄĂ“Ă–Ă– ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂŒĂ™ĂŽĂŁ Ă–Ă‹Ă˜Ă‘Ă&#x;Ă‹Ă‘Ă? Ă‹Ă˜ĂŽ Ă?Ă‹Ă˜ Ă–Ă?Ă‹ĂœĂ˜ Ă?Ă‹Ă?Ă“Ă–ĂŁ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ ĂœĂ™Ă–Ă?̋ÚÖËãĂ?Ëœ ÚÒãĂ?Ă“Ă?Ă‹Ă– Ă‹Ă?ÞÓà ÓÞã Ă‹Ă˜ĂŽ Ă’Ă‹Ă˜ĂŽĂ?Ě‹ Ă™Ă˜Ě‹Ă–Ă?Ă‹ĂœĂ˜Ă“Ă˜Ă‘Ë› Ă&#x;Ă?Ă“Ă?Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? Ă’Ă“Ă? Ă“Ă? ĂŽĂ?Ă—Ă™Ă˜Ă?ĂžĂœĂ‹ĂžĂ?ĂŽ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă’Ă“Ă‘Ă’ Ă?Ă?Ă˜Ă?ÓÞÓà ÓÞã ÞÙ ĂœĂ’ĂŁĂžĂ’Ă— Ă‹Ă˜ĂŽ Ă?Ă™Ă&#x;Ă˜ĂŽË› Ă?ÙÚÖĂ? åÓÞÒ Ă’Ă“Ă‘Ă’ Ă—Ă&#x;Ă?Ă“Ă?Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă‹ĂœĂ? Ă?Ă?Ă˜Ă?ÓÞÓà Ă? ÞÙ Ă?Ă™Ă&#x;Ă˜ĂŽĂ? Ă“Ă˜ ÞÒĂ?Ă“Ăœ Ă?Ă˜Ă Ă“ĂœĂ™Ă˜Ă—Ă?Ă˜ĂžĂ?Ë› Ă’Ă?ĂŁ Ă?Ă‹Ă˜ ĂŒĂ? ÞËĂ&#x;Ă‘Ă’Ăž ĂŒĂŁ ĂžĂ&#x;ĂœĂ˜Ă“Ă˜Ă‘ Ă–Ă?Ă?Ă?Ă™Ă˜Ă? Ă“Ă˜ĂžĂ™ Ă–ĂŁĂœĂ“Ă?Ă?Ëœ Ă?ĂšĂ?Ă‹Ă•Ă“Ă˜Ă‘ ĂœĂ’ĂŁĂžĂ’Ă—Ă“Ă?Ă‹Ă–Ă–ĂŁ Ă‹Ă˜ĂŽ ĂžĂ‹ĂšĂšĂ“Ă˜Ă‘ Ă™Ă&#x;Ăœ ÞÓ×Ă?Ë› Ă’Ă?ĂŁ Ă—Ă‹ĂŁ Ă?ĂžĂ&#x;ĂŽĂŁ ĂŒĂ?ĘľĂ?Ăœ åÓÞÒ Ă—Ă&#x;Ă?Ă“Ă? Ă“Ă˜ ÞÒĂ? ĂŒĂ‹Ă?Ă•Ă‘ĂœĂ™Ă&#x;Ă˜ĂŽË›

Ă˜ĂžĂ?ĂœĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? Ă’Ă?Ă?Ă? Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜ Ă–Ă?Ă‹ĂœĂ˜ ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă“Ă˜ĂžĂ?ĂœĂ‹Ă?ĂžĂ“Ă™Ă˜ åÓÞÒ ĂšĂ?ÙÚÖĂ? Ă‹Ă˜ĂŽ Ă?Ă‹Ă˜ ĂŒĂ? ÞËĂ&#x;Ă‘Ă’Ăž ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă‘ĂœĂ™Ă&#x;Ăš Ă‹Ă?ÞÓà ÓÞÓĂ?Ă?Ëœ Ă?Ă?Ă—Ă“Ă˜Ă‹ĂœĂ? Ă‹Ă˜ĂŽ ÎÓËÖÙÑĂ&#x;Ă?Ë› Ă˜ĂžĂœĂ‹ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë? Ă?ÙÚÖĂ? åÓÞÒ Ă’Ă“Ă‘Ă’ Ă“Ă˜ĂžĂœĂ‹ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă&#x;Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽ ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă“Ă˜ĂžĂ?ĂœĂ?Ă?ĂžĂ? Ă‹Ă˜ĂŽ ÑÙËÖĂ?Ëœ ÞÒĂ?ĂŁ Ă‹ĂœĂ? Ă“Ă˜ ĂžĂ&#x;Ă˜Ă? åÓÞÒ ÞÒĂ?Ă“Ăœ Ă“Ă˜Ă˜Ă?Ăœ Ă?Ă?Ă?Ă–Ă“Ă˜Ă‘Ă? Ă‹Ă˜ĂŽ ÞÒĂ?ĂŁ Ă’Ă‹Ă Ă? ĂĄĂ“Ă?ĂŽĂ™Ă—Ëœ Ă“Ă˜ĂžĂ&#x;Ă“ĂžĂ“Ă™Ă˜Ëœ Ă—Ă™ĂžĂ“Ă Ă‹ĂžĂ“Ă™Ă˜ Ă?ĂžĂœĂ™Ă˜Ă‘ ĂĄĂ“Ă–Ă– Ă‹Ă˜ĂŽ Ă?Ă™Ă˜Ę¨ĂŽĂ?Ă˜Ă?Ă?Ë› Ă’Ă?ĂŁ Ă?Ă‹Ă˜ ĂŒĂ? ÞËĂ&#x;Ă‘Ă’Ăž ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă“Ă˜ĂŽĂ?ĂšĂ?Ă˜ĂŽĂ?Ă˜Ăž Ă?ĂžĂ&#x;ĂŽĂŁ Ă‹Ă˜ĂŽ Ă“Ă˜ĂžĂœĂ™Ă?ĂšĂ?Ă?ĂžĂ“Ă™Ă˜Ë›

Ăž Ă“Ă? Ă“Ă˜ĂžĂ?ĂœĂ?Ă?ĂžĂ“Ă˜Ă‘ ÞÙ Ă•Ă˜Ă™ĂĄ ÞÒËÞ Ă“Ă˜ĂžĂ?ĂœĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă‹Ă˜ĂŽ Ă“Ă˜ĂžĂœĂ‹ĂšĂ?ĂœĂ?Ă™Ă˜Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? Ă‹Ă? Ă?Ă&#x;Ă‘Ă‘Ă?Ă?ĂžĂ?ĂŽ ĂŒĂŁ Ă™ĂĄĂ‹ĂœĂŽ Ă?Ă™ĂœĂ—Ă?ĂŽ ÞÒĂ? ĂŒĂ?ĂŽ ĂœĂ™Ă?Ă• Ă?Ă™Ăœ ÞÒĂ? Ă—Ă™Ă?Ăž ĂœĂ?Ă?Ă?Ă˜Ăž Ę¨Ă˜ĂŽĂ“Ă˜Ă‘Ă? Ă“Ă˜ ÞÒĂ? ĂĄĂ™ĂœĂ–ĂŽ Ă™Ă? Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ĂĄĂ’Ă“Ă?Ă’ Ă“Ă? Ă?Ă—Ă™ĂžĂ“Ă™Ă˜Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ë›

Ă˜ Ă—ĂŁ Ă˜Ă?Ă?Ăž Ă‹ĂœĂžĂ“Ă?Ă–Ă? ÒÙÚĂ? ÞÙ Ă?Ă’Ă?ĂŽ Ă—Ă™ĂœĂ? Ă–Ă“Ă‘Ă’Ăž Ă™Ă˜ Ă?Ă—Ă™ĂžĂ“Ă™Ă˜Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă?Ëœ Ă?âÚÙĂ&#x;Ă˜ĂŽĂ“Ă˜Ă‘ Ă™Ă˜ ÞÒĂ? ĂĄĂ™ĂœĂ•Ă? Ă™Ă? Ă‹Ă˜Ă“Ă?Ă– ÙÖĂ?Ă—Ă‹Ă˜ Ă‹Ă˜ĂŽ ÒÙå Ă“Ăž Ă?Ă‹Ă˜ Ă’Ă?Ă–Ăš Ă?ĂŽĂ&#x;Ă?Ă‹Ě‹ ĂžĂ™ĂœĂ? Ă‹Ă˜ĂŽ ĂšĂ‹ĂœĂ?Ă˜ĂžĂ? Ă“Ă˜ ĂœĂ‹Ă“Ă?Ă“Ă˜Ă‘ Ă—Ă™ĂœĂ? Ă?Ă&#x;Ă?Ă?Ă?Ă?Ă?Ă?Ă&#x;Ă– Ă?Ă’Ă“Ă–ĂŽĂœĂ?Ă˜Ë›

Bridgehouse College Clocks 13, Celebrates Achievement Funmi Ogundare Bridgehouse College, Ikoyi, a sixth form college and an accredited centre for Cambridge International Examination (CIE), recently commemorated its 13th anniversary celebration, when the management used the opportunity to emphasise on its achievements over the years.

Briefing Journalists at the end of a tour round the college, the Principal, Mrs. Uche Emeanu described it as one family saying that it started with only 8 students but can now boast of over 200 who have been performing excellently well in various fields. “We have grown from a little beginning , we have had excellent performance in CIE and in the last 13 years the college has produced over 2,500 students who are doing well academically in various institutions and fields of endeavour.�

The Vice Principal, Mr. Richard Balogun

who emphasised on its Cambridge system of education said aside having a stateof- the-arts facilities, it ensures that staff who already have the CIE certificate, are trained on how to take care of children. “Every student is assigned to a personal tutor so that they can have a one-on-one interaction, at the end of the day, we can produce a total student that can represent us anywhere. CIE is the top producer for education, we want a child that can compete globally. From the interaction, the students are able to gather experience enough to integrate them to tertiary institutions. The college is proud of its achievements, we want to ensure that we continue to work hard, � he stressed.

The Head of Counseling to University Placement, Mrs. Olubisi Banjo said the college has 28 university partners across the world, adding that the students have been adequately grown and prepared for

tertiary education. “According to her, “we don’t just place our students inboard schools abroad, we ensure they are properly educated so that they can get to good schools and still carry on well. We look at careers obtainable and encourage the students to hold on to their passion. We don’t just focus on UK institutions alone but cross the world including Nigeria depending on the course they want to study.�

The college’s Marketing Consultant, Mrs. Omowunmi Fatodu who emphasised on recruiting students into the college, said aside focusing on the students academics, they are made to go through levels of admission procedures including their emotional wellbeing . “We look at their emotional wellbeing to know whether they are ready and we also deal with family across class that have values so as to bring up well mannered children.�

Eruotor writes from Lagos

FG Urged to Beef up Security in Schools Hammed Shittu in Ilorin The Commandant of Naval Officers Wives Association (NOWA) Secondary School, Offa in Kwara State, Lieutenant Commander Olujoke Olayemi Sijuade has appealed to the federal government and various security outfits in the country to provide adequate security to schools particularly boarding schools to avoid a re-occurrence of the incident that happened at the Government Secondary School, Chibok in Borno State, in 2014.

Commander Sijuade who made the appeal, recently, in Ilorin , told Journalists that students generally should be well protected against any

external interference while their activities must be properly monitored.

She praised the efforts of the federal government in securing the release of some of the Chibok girls and also called for more concerted efforts towards the release of the remaining kidnapped students.

Sijuade who is a trained teacher and administrator called on the government to ensure that only qualified teachers are employed to teach in our various institutions of learning adding that they must be adequately trained and retrained to improve the standard of education in the country .

T H I S D AY Ëž Ëœ ÍąÍŻËœ Í°ÍŽÍŻÍľ

36

CITYSTRINGS

Ă?ĂžĂ“Ă˜Ă‘ Ă?Ă‹ĂžĂ&#x;ĂœĂ?Ă? ĂŽĂ“ĂžĂ™ĂœË? Ă’Ă‹ĂœĂ–Ă?Ă? Ă”Ă&#x;Ă˜ĂĄĂ‹ Ă—Ă‹Ă“Ă– Ă?Ă’Ă‹ĂœĂ–Ă?Ă?˛ËÔĂ&#x;Ă˜ĂĄĂ‹ĚśĂžĂ’Ă“Ă?ĂŽĂ‹ĂŁĂ–Ă“Ă Ă?Ë›Ă?Ù×

Boro: A Rebel’s Unfinished Business Recently, Bayelsa State stood still for Major Isaac Boro, who is celebrated annually by his folks as the hero who spearheaded the movement for the self-determination of the Ijaw nation. Emmanuel Addeh examines Boro's activism and what many regard as his largely unfinished business

"T

oday is a great day, not only in your lives, but also in the history of the Niger Delta. Perhaps, it will be the greatest day for a very long time. “This is not because we are going to bring the heavens down, but because we are going to demonstrate to the world what and how we feel about oppression‌ “Remember your 70-year-old grandmother who still farms before she eats; remember also your poverty-stricken people; remember, too, your crude oil which is being pumped out daily from your veins; and then fight for your freedom,â€? Isaac Boro, February 23, 1966, during his declaration of a Niger Delta Republic.

Next year, it would be 50 years since the death of Major Isaac Boro, a young man then in the 60s, who though still seen today by a section of Nigeria as a patriot, having died in Nigeria’s bloody civil war, is mainly remembered by his folks as the man who sparked off the agitation for self-determination by the Niger Delta.

Even in death, the former minority rights activist, first ever person to declare a Niger Delta Republic, yet fought on the side of Nigeria, during the 30-month Biafra war in which the federal government sought to keep the country as one, still stirs controversy.

But love or loathe him, his Ijaw kinsmen, many of whom still regard him as a god of some sorts, believe that late Boro still remains the greatest and bravest Ijaw man to have walked the earth's surface.

So, on the 16th of May every year, his admirers, family, friends, associates and indeed the government of Bayelsa and a handful of other states, gather in commemoration of this enigmatic Ijaw paladin.

Born in Kaiama, in today’s Kolokuma/ Opokuma Local Council in Bayelsa, Boro who would have been 80 next year, only trod the earth for 30 years before his premature death in 1968 in the hands of enemy troops, while fighting for Nigeria.

Yet to many, fighting on the side of those he termed oppressors lies the contradiction in the short life lived by the late university students leader, teacher, policeman, Nigerian army officer and most importantly an activist for minority rights.

Boro, those who followed his trajectory say, first came to national prominence when as an undergraduate student of Chemistry and a student union president at the University of Nigeria, Nsukka, left school to lead an armed protest against the exploitation of oil and gas resources in the Niger Delta areas.

At the time, the story goes, the late activist felt that the exploitation of the resources from the Delta region benefitted mainly the Federal Government of Nigeria and the Eastern region which then had its capital in Enugu.

An aggrieved Boro was then said to have formed the Ijaw Volunteer Force (IVF), an armed militia with members consisting mainly of his fellow Ijaw descendants, leading to the declaration of the Niger Delta Republic on February 23, 1966.

What ensued after that singular move is today referred to as the 12-day revolution, during which Boro, along with his group of just about 150 volunteers gallantly battled the federal forces for 12 days but were roundly defeated by the government’s federal might.

He was eventually thrown into the gulag, tried and jailed for treason, along with his compatriots where they spent about a year and were later released as a bargain to fight on the side of the federal government against the Biafra forces.

In 1967, in the heat of the civil war, the General Yakubu Gowon-led military government in a strategic move to neutralise the Biafra forces in

Late Boro

the Rivers axis, deployed Boro to the warfront after giving him the rank of a major. He was later to die in the battlefield a year after.

But aside being a fiery warrior, what kind of father was the late Boro, who had four children, a boy and three girls from two women before he was killed, with the fourth one coming some months after the soldier’s death.

Madam Esther, first daughter of the late Ijaw icon, who was barely five years at the time her father died, recalls with the eyes of a child her relationship with her father vis a vis the awe that the man inspired in the last few years leading to his death.

She describes her father as a ‘phenomenon’, who probably lived way before his time, being ahead of his peers in terms of intellect and vision. “Isaac Boro was a phenomenon. People used to get scared of me, even my fellow students.

They felt that dating Isaac Boro’s child was like Boro was coming to kill them. “They believed he used to take a walk with his army boots around the village (Kaiama); that if they had anything with his daughter, something terrible might happen to them,� she says.

That was it. A combination of reverence, veneration and even dread, years after he died.

Unarguably, the most celebrated Ijaw nationalist dead or alive today, what exactly are the enduring legacies of the late Major?

According to Esther, her father’s struggle was his life. Though she expresses sadness over the premature death of the man and the fact that there wasn’t much interaction between him and

As the Ijaw nation and the Niger Delta people celebrate the 2017 annual Isaac Adaka Boro’s Day, the IYC, worldwide calls on the Nigerian Government to ďŹ nd a lasting solution to the issues that led to the Adaka Boro insurrection in the 1960s

the family, she is nevertheless glad that her father made indelible marks in the sands of time. “I think I like the struggle. It is part of the ideals I learnt from him,� she enthuses. In the struggle, he was not in it as an individual but it was what he stood for. It was his identity.

What he stood for was encapsulated in some of his speeches,� Esther adds.

But the late soldier’s first daughter is peeved that her father has not really gained the recognition he truly deserves, even as a Nigerian hero, having died in the service of the nation. “Celebrating a national hero is not just by word but by action,� she says. “If they said my late father was a national hero, how come his birthday is not recognised? Why is it that we do not read about him in the history books? “He was an Ijaw hero and I am proud that he was. Not only an Ijaw hero, he was the Niger Delta hero because he is even better celebrated in Delta State, Edo State and other places,�

Esther says.

She believes that if the grievances expressed

by Boro when he took up arms against the federal government were addressed, the crisis bedeviling the Niger Delta today, would not have existed. “If Isaac Boro’s ideologies were addressed, we would not have the Niger Delta problems as we have today. There could be some grievances that would pop up and it would have been an entirely different level,� she argues.

And she may not have been wrong after all. Boro may not have started the agitation for a better deal for the people of the Niger Delta, yet he took it to a whole new level with his brand of activism which was sometimes violent.

However, just like the seeds of of Boro's agitations have grown and come full circle, probably because of the kid gloves with which the central government treated the recommendation of the Willinks Commission set up in 1958 to investigate the fears of minorities, eight years before Boro introduced his brand of activism, one can argue that the relationship between the government and the people of the region is not about to get smoother.

The Willinks Commission had confirmed that the fears of the minorities were real and

recommended a special status for the Niger Delta, leading consequently to the setting up of the Niger Delta Development Board, (NDDB) by the Tafawa Balewa-led government to cater for the special needs of the region.

The NDDB, just like the proliferation of federal agencies to address development in the region today, failed in part because the other regions at that time refused to make any contribution to the board.

So, from Boro to Ken Saro Wiwa till now that the Ijaw Youth Council, (IYC) born during the Kaiama declaration in Boro's homeland in 1998, now seems to be the arrowhead of the struggle, the story has remained almost the same, many would agree.

National President of the IYC, which is today the foremost Ijaw youth group in the region, Mr. Eric Omare, believes that like in the days of Boro, all the issues raised by the Ijaw warrior remain unresolved.

Omare posits that after an assessment of the development in the Niger Delta since the failed declaration of the region as an independent state 51 years ago, nothing has changed.

"As the Ijaw nation and the Niger Delta people celebrate the 2017 annual Isaac Adaka Boro’s Day, the IYC, worldwide calls on the Nigerian Government to find a lasting solution to the issues that led to the Adaka Boro insurrection in the 1960s. “The IYC states that 51 years after the Isaac Boro’s declaration of the aborted Niger Delta Republic, the Nigerian state has failed to address the fundamental cause of the Niger Delta agitation. “It (agitation) was to express dissatisfaction with the Nigerian state over the political and economic suppression and oppression of the Niger Delta people and it has been 49 years after the demise of Isaac Boro,� Omare said.

While also calling on the Niger Delta leaders to ensure the development of the region, the IYC posited that only resource control could truly resolve the current crisis in the region. “The IYC holds the view that addressing the Niger Delta question requires resolution of the resource ownership and control question in Nigeria in such a way that the people and communities of the Niger Delta region would have the right to the control and ownership of the God-given oil and gas resources in their lands. “The IYC states that addressing the resource ownership question together with an acceptable political restructuring of Nigeria to reflect the tenets of federalism are the panacea to the rapid and peaceful development of Nigeria. “These were also the ideals that the late Major Isaac Adaka Boro fought for while alive,� he said.

But the IYC may have taken a pessimistic view of the situation from the 60s when the agitations first became serious till now.

At least the remains of Boro, which were “hoarded� for over 40 years by the federal government, have been released and reburied in Yenagoa, the state capital, an Ijaw indigene has headed Nigeria, which was unthinkable some years ago and of course there is now a state called Bayelsa, regarded as the “Jerusalem� of the Ijaw people.

Mr. Samuel Owonaru, the only surviving member of Boro's guerrilla army and his number two man during the ‘revolution’, says although what Boro, himself and others fought for have not been realised, it would be untrue to say things are the way they were in the 60s when they took up arms against the centre. “To be candid, what we fought for in the past hasn’t really been achieved, in the sense that we’re still in subjugation in the hands of the powers-that-be. So, in that sense, the struggle is still on. “We’re hoping that better things will still come. On the other hand, to say that we haven’t achieved anything at all won’t be true, because

T H I S D AY Ëž Ëœ ÍąÍŻËœ Í°ÍŽÍŻÍľ

37

CITYSTRINGS

To be candid, what we fought for in the past hasn’t really been achieved, in the sense that we’re still in subjugation in the hands of the powers-that-be. So, in that sense, the struggle is still on. We’re hoping that better things will still come

Boro (2nd right) arrested by Nigerian security forces

Dickson, his deputy, John Jonah and a family member of the Ijaw hero, during the Boro's Day in Yenagoa Dickson during the laying of wreath on Boro's grave in Yenagoa

things have changed somehow,� he said not too long ago.

But it was not until 2014, after much agitation that the remains of Major Boro were released and reburied at the Heroes Park in Yenagoa, the Bayelsa State capital.

Before then, precisely in the year 2000, the government of Diepreye Alamieyeseigha made the Boro Day one to be celebrated by the entire Niger Delta.

As a result of the annual ceremony which took place last Tuesday at the popular Izon House, next to where his remains were interred, business activities were crippled.

Market and shops remained locked for the entire day while the few who managed to open for customers could only carry out skeletal services, while the busy Yenagoa-Mbiama Road was devoid of the usual traffic until later in the evening.

Governor Seriake Dickson who laid a wreath in honour of the late activist, agreed that nothing much had changed since the passing of the late soldier.

We are raising a new generation of Boros and leaders that would take up the struggles. Now we have got to focus on intellectual struggle. “Because we didn’t invest in education, our country left us behind and forgot about the Niger Delta and our people. Up till today, their (Nigeria’s) only interest is the constant flow of oil and now gas, nothing more. As it was in Boro’s time so it is till now,� the governor maintained.

And then the stinker! Coming back home, an angry governor Dickson took a swipe at those he described as Abuja people who he said have always undermined the Ijaw people and his own government. ''We cannot blame God who has been kind

Esther Boro, ďŹ rst daughter of the deceased

and merciful to us, particularly of late, but we ourselves, because our people were not committed to the Boro dream, not committed to the development of their own state. “We have a habit such that someone is a minister, all they do for us in Abuja is how to undermine, blackmail, bad-mouth and bring down their own government, their state.

“That is the Bayelsa and the Ijaw disease.

Till today, it has happened before and I have weathered all of that. Instead of people there that had the opportunity to work with us and ask the governor to come and ask what they could put down in our state, what I hear every day was: ‘we will remove him, he must go, we have got someone to take over from him,

the other person will take over.’�

Dickson further said that “Six years, we just wasted it. Meanwhile, we were doing our work here. Is it not what happened? Till today, we have a minister there (in Abuja). We have people who say they have federal government in their pockets, but have they brought anything to add to what we are doing here? “You see the Bayelsa disease I am talking about, you see the Ijaw man's disease? Is that what Boro could have done? If Boro and his people were in Abuja, will this state remain like this? ''So, our people must change. If you are a minister, minister well, if you are a party leader and your government is in charge in Abuja, go and bring the goodies to join us. “Instead, the Bayelsa disease of underdevelopment affecting their heads is how they can buy guns and support one criminal in one village, how they will assist some cult leaders, how they will talk to police not to arrest criminals, how they will bring soldiers to come and intimidate people. Devil has taken over their minds.''

He added, ''today, our people should be ashamed, not only that we did not take the advantage of the opportunities we have had, but we allowed partisanship to divide organs that we should hold sacred.�

He also berated the Ijaw National Congress (INC) and the IYC over the division within the two bodies and ascribes it to greed, selfishness and unnecessary politics. But as the Ijaw people, nay the Niger Delta region marked the remembrance of the late rights activist and the day slowly wound down, not a few left the venue of the event with the impression that Major Boro left behind some unfinished business: that of ensuring that the Niger Delta gets a fair deal from the country they call their own.

T H I S D AY Ëž , MAY 30, 2017

38

BUSINESS/MONEYGUIDE

EFCC Partners Auditors to Tackle Bank Fraud Obinna Chima The Economic and Financial Crimes Commission (EFCC) and the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) have agreed to strengthen collaborations in the fight against bank fraud.

Speaking during the association’s visit to EFCC Lagos office recently, ACAEBIN Chairman, Abiodun Aderoju said the fight against corruption by the President Muhammadu Buhari led-government will not be successful without the involvement and cooperation of the banks.

The ACAEBIN delegation was received by the Head of Economic Governance Crime,

Mohammed Rabo, on behalf of the Head of Operations of the Lagos Unit of the Commission.

Aderoju said there was need for the association to constantly compare notes with the antigraft agency so as to improve information sharing mechanisms between both parties. “The association appreciates the effort of the EFCC in the renewed fight against corruption but believes that the needed result will not be fully achieved without the involvement and cooperation of the banks especially in the area of information and knowledge sharing. It is on this note that we as an Association and the third line of defence in the banking industry have come to familiarise ourselves with the

new head of the Lagos Unit of the Commission and pledge our commitment to collaborate with him,� Aderoju said.

Responding, Rabo promised that the Commission would strive to address the issues raised by the Auditors in spite of the manpower and other logistics challenges facing the Commission.

He tasked the Auditors on the need to build trust with the Commission by responding timely to request for information to enable it effectively discharge its duties while also urging them to ensure proper profiling and documentation of bank customers (KYC), as that is very key to all EFCC investigations.

NDIC to Deepen Capacity on Deposit Insurance Ndubuisi Francis The Nigeria Deposit Insurance Corporation (NDIC) has stated its resolve to lead in enhancing capacity building and bridging skills gaps in the banking industry in general and the Deposit Insurance Scheme (DIS) in particular in Africa.

The NDIC’s Managing Director/Chief Executive, Alhaji Umaru Ibrahim made this remark during the accreditation ceremony of the NDIC Academy as a training service provider for its staff and the banking industry by the Council of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos. According to a statement, Ibrahim said with the NDIC Academy’s

new status, it was positioned to fulfil the corporation’s goal of serving as a centre of academic excellence for capacity building on the Deposit Insurance Scheme (DIS) for countries in the sub-Saharan Africa. He added that the corporation prides itself on establishing high standards of professionalism and competency among its staff through the Corporation’s NDIC Academy and other human capital development initiatives, including the Chartered Banker/ MBA program of University of Bangor, Scotland in partnership with the CIBN. The NDIC CEO emphasised the importance of continuous high level training in order to achieve the Corporation’s core mandates of deposit guarantee,

bank supervision, bank distress resolution and bank liquidation.

The ultimate goal, he said, would be to enhance depositor protection and public confidence in the banking system.

In his earlier address, the President and Chairman, Council of CIBN, Prof. Segun Ajibola commended the corporation for its consistent efforts toward meeting high standards for the benefit of the banking industry and larger economy. Ajibola described the NDIC’s readiness to subject itself to the rigours of the accreditation process as a testimony of its management’s commitment towards capacity development in order to equip its workforce with critical skills to enhance their performance and productivity.

FCMB Offers Free Banking Services to SMEs First City Monument Bank (FCMB) Limited has introduced free banking transactions for a period of three months for its new customers operating in the SMEs segment.

With this, the operators would enjoy banking services without charges.

According to the bank, the offer was aimed at encouraging Nigerians to take active interest in entrepreneurship, while also assisting new and existing SMEs to overcome some of the challenges they usually face, especially at the take-off stage.

In a statement, the financial

services provider explained that to qualify for the free three months banking incentive, an SME is required to open an FCMB Business Account and sign-up for a business debit card at any of its over 200 branches spread across the country. The benefits of this value-added offering includes, no banking charges on local transactions, free account maintenance and monthly flat charges, free cheque books, free printing of account statements and free bank drafts.

According to the Divisional Head, Retail Banking of FCMB, Mr. Olu Akanmu, three

months free banking from FCMB to SMEs was another demonstration of the Bank’s value as a helpful financial institution committed to helping businesses to thrive in this challenging time. “FCMB is committed to helping Nigerians and their businesses to succeed even in this challenging time. We support them with simple, easy to use transactional products and services that help them to manage their cash and collections efficiently while supporting them in their aspirations to build successful businesses.�

Sigma Pensions, PENGASSAN Partner on Workers’ Welfare Amby Uneze in Owerri and Daji Sani Ă“Ă˜ ÙÖË Sigma Pensions Limited and the Petroleum and Natural Gas Senior Staff Association of Nigerian (PENGASSAN) recently collaborated to sensitise workers on the need to plan for their retirement while they are still in active service.

The sensitisation exercise took place in Owerri, Imo State and Yola, the Adamawa State capital respectively, during the 5th delegates’ conference of the union in both states.

At Owerri, the President of PENGASSAN, Francis Olabode Johnson, reiterated the union’s avowed stance to always resist policy that engendered the

employment of workers, such as exploitative with tendency to degrade jobs, as obtained in casualisation and contract employment.In his remarks, the Zonal Chairman of PENGASSAN, Comrade Azubuike M. Azubuike noted that in spite of the economic recession, the union had not deviated from her core objective of protecting her members’ jobs and improving their welfare by evolving mutually sustainable development strategies that carefully integrate labour/industrial relations in a manner that foster productivity, growth, industrial peace and harmony at the workplace through consultation, collaboration, effective communication and speedy resolution of industrial issues.

At the Adamawa conference, the union commended Sigma Pensions for the partnership as well as their commitment towards workers’ welfare.

The representative of Sigma Pensions and Head of Risk Management, Nuhu Modibbo said his organisation was ready to protect pension contribution and gratuity of pensioners in the civil service and other organisation Modibbo lauded the commitment of his organisation to protect and pay pensioners their pensions and gratuity at the time when due immediately their retirement from office.

However, he commended PENGASSAN for giving them the opportunity to sponsor the conference across the country

Banking hall

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

DECEMBER 2016 Broad Money (M2)

23,840,392.42

-- Narrow Money (M1)

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

-- Net Domestic Credit (NDC)

26,970,297.97

---- Credit to Government (Net)

4,595,579.89

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

7,436,917.79

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

-2,841,337.90

---- Credit to Private Sector (CPS)

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

--Currency in Circulation

2,179,174.28

--Banks Reserves

3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

MANAGED FUNDS Month

December 2016

Inter-Bank Call Rate

10.39

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

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

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

OPEC DAILY BASKET PRICE AS AT, MON, 29 MAY 2017 The price of OPEC basket of thirteen crudes stood at $49.67 a barrel on Monday, compared with $49.48 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

T H I S D AY WEDNESDAY MAY 31, 2017

39

T H I S D AY Ëž , MAY 30, 2017

40

MARKET NEWS

Law Union & Rock Posts N3.935 bn Premium, N658m Profit Ugo Aliogo The Law Union & Rock Insurance Plc ended the 2016 financial year with N3.935 billion gross premium, up from N3.858 billion. The company grew its profit before tax (PBT) by 101 per cent, from N328 million in 2015 to N658 million in 2016, while total assets rose from N8.580 billion while shareholders’ funds grew by 13.03 per cent from N4.45 billion

to N5.039 billion.

Addressing the shareholders at the 48th annual general meeting (AGM) of the company in Lagos, the Chairman of Law Union & Rock Insurance, Mr. Remi Babalola, said the company recorded marginal increase its top-line and significant growth in its bottom-line.

Babalola said: “If you look at the performance of the company in 2016, you will realise

T H E MAIN BOARD

DEALS

MARKET PRICE

that the company is doing better every year. Since 2012 we have been doing better than other years. The company had a very good brand, but faced some challenge which made things not go very well for them. We were among the topmost insurance companies in the country if you trace through history. By the time we came into the company, it was struggling, therefore what we did was to change

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES DiversiďŹ ed Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. DiversiďŹ ed Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--DiversiďŹ ed CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--DiversiďŹ ed Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

6 6 12

30.00 34.00

19 19 31

the management, the board, and improve the policies. Also, we put good risk management practices. We then came up with a corporate plan and good strategy and we allowed the management to implement that strategy.�

He said the company has brought in a foreign investor as part of the shareholders, disclosing that the company did a private placement last year which was successful and

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

27

2.69

614,065

1,572,223.05

the foreign investor has put money into the company. “We are looking for leverage in the areas where we are going to bring in technology to enhance product and diversify the company,� he said.

Speaking on the insurance industry, he said, insurance business in Nigeria has not started because when you compare the contribution of the insurance sector to the Gross Domestic Product (GDP)

it is very low. “When we compare with Ghana, Kenya and South Africa, while we have zero per cent in terms of GDP, they have above three per cent. There is tremendous opportunity in the insurance business, but it needs the right risk management, appropriate capital, right technology and well-motivated workforce.

These are what the Law Union and Rock has right now,� he added.

E XC H A N G E

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

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

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

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

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

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

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

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

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

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

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

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

33 33 189

318.00

389,934 389,934 4,473,488

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

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

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

1 1 43 1,811

1.68

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

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

2 2 2 2

1.21

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

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

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

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

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

35 35 35 619 2,432

139.83

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

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

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

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

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

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

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˾ WEDNESDAY, MAY 31, 2017

MARKET NEWS

Livestock Feeds Invests in Supply Chains to Boost Performance Goddy Egene In order to enhance its growth and deliver better value to all stakeholders, Livestock Feeds Plc, a subsidiary of UAC of Nigeria Plc is investing in its supply chain operations.

Chairman of Livestock Feeds Plc, Mr. Larry Ettah disclosed this yesterday at the annual general meeting (AGM) of the company in Lagos.

According to him, the company posted a revenue of N11.1 billion, representing a 23 per cent growth over last year’s result. However, he said due to high cost of raw materials, forex scarcity and other limiting factors,

cost of sales witnessed a 25 per cent increase over 2015.

Ettah said: “Despite the increased costs, operational profit was 24 per cent higher than prior year. Profit before and after tax however declined on 2015 due to the absence of the extraordinary income made from the gains on disposal of our former Kaduna plant in 2015.

Consequently, profit before tax was N223.9 million while profit after tax declined by about N152.3 million.”

The chairman noted, “that in view of the above results, no recommendation is made for dividend payment in order to conserve funds for the increasing cost of operation and to execute our

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

2017 growth plans.”

Speaking on the feed milling industry, Ettah said economically 2016 was a challenging year for most sectors while the feed milling industry in Nigeria had its fair share of the tough times.

“Chief among the myriads of challenges faced by the industry during the year was acute shortage of raw materials especially the energy sources as reflected in the high cost of maize and those of its close substitutes and derivatives. The price of maize for instance, moved up by almost 75 per cent from 2015 to 2016 while fibre materials prices also skyrocketed.

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 26-May-2017, unless otherwise stated.

The shortage of these materials was significantly attributed to low farming activities in the Northern part of the country arising from prevailing insurgency and increased export activities. The acute shortage of foreign exchange also led to scarcity and huge increases in the prices of the imported inputs,” he said.

Ettah noted the high cost of raw materials fueled high cost of feeds, thereby occasioning frequent price increases, which became unbearable for poultry farmers.

“Consequently, many small scale farms shut down, while big farms managed to weather the storm by

employing various cost saving strategies.

In the final analysis, the poultry industry which is key to the livestock sub-sector experienced a serious reduction in bird population. This unfortunate development also negatively impacted the sales volume of the feed milling industry,” he said.

Speaking on the outlook for 2017 said they are seeing an alarming and unprecedented scarcity and high cost of energy source materials in 2017.

According to him, there has been an increase of about 100 per cent in the cost of raw materials.

“We, however, remain undaunted in our resolve to run a profitable

operation.In its bid to foster efficient supply chain operation going by the seasonality of its raw materials, your company put in place massive storage facilities cutting across the agroecological zones to take advantage of cheaper market prices during harvest seasons. One of such projects is the recently commissioned 5,000 metric tonnes Silo installation in the Aba factory. This facility is expected to position the company at a vantage position over and above competition to increase our market share in the Eastern operation through constant product availability at better prices,” Ettah said.

Offer price: The price at which units of a trust or ETF are bought by investors.

Bid Price: The price at which Investors redeem (sell) units of a trust or ETF. Yield/Total Return: Denotes the total return an investor would have earned on his investment. Money Market Funds report Yield while others report Year- to-date Total Return.

NAV: Is value per share of the real estate assets held by a REIT on a specific date.

DAILY PRICE LIST FOR MUTUAL FUNDS, REITS and ETFS MUTUAL FUNDS / UNIT TRUSTS AFRINVEST ASSET MANAGEMENT LTD aaml@afrinvest.com Web: www.afrinvest.com; Tel: +234 1 270 1680 Fund Name Bid Price Offer Price Yield / T-Rtn Afrinvest Equity Fund 147.53 147.53 15.58% Nigeria International Debt Fund 220.09 220.09 3.21% 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 0.74 0.74 5.17% AIICO CAPITAL LTD ammf@aiicocapital.com Web: www.aiicocapital.com, Tel: +234-1-2792974 Fund Name Bid Price Offer Price Yield / T-Rtn AIICO Money Market Fund 100.00 100.00 18.16% 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 13.85 14.27 12.19% ARM Discovery Fund 315.34 324.84 9.81% ARM Ethical Fund 23.11 23.81 3.45% ARM Money Market Fund 1.00 1.00 16.05% 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 119.63 120.47 13.74% AXA Mansard Money Market Fund 1.00 1.00 17.70% 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 10.57 10.79 12.66% Women's Investment Fund 90.68 93.01 7.20% 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 18.55% 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 1,074.76 1,075.88 6.34% FBN Heritage Fund 124.78 125.69 11.86% FBN Money Market Fund 100.00 100.00 17.74% FBN Nigeria Eurobond (USD) Fund - Institutional $108.82 $109.20 5.55% FBN Nigeria Eurobond (USD) Fund - Retail $108.27 $108.65 5.74% FBN Nigeria Smart Beta Equity Fund 128.58 130.34 14.15% 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 1.11 1.13 19.15% Legacy Short Maturity (NGN) Fund 2.73 2.73 6.28% 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 2,405.98 2,437.22 8.98% Coral Income Fund 2,254.73 2,254.73 7.15% 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 16.42% 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 18.59% Vantage Balanced Fund 1.89 1.91 12.32% Vantage Guaranteed Income Fund 1.00 1.00 17.61%

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 1.04 1.06 5.62% Lotus Halal Fixed Income Fund 1,025.90 1,025.90 4.27% 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 11.15 11.24 15.40% Meristem Money Market Fund 10.00 10.00 17.13% 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 1.11 1.13 12.25% PACAM Fixed Income Fund 10.56 10.63 1.63% PACAM Money Market Fund 10.00 10.00 12.86% 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 118.00 118.69 15.76% 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 1.30 1.30 4.71% 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 1,963.28 1,973.85 7.20% Stanbic IBTC Bond Fund 158.65 158.65 3.05% Stanbic IBTC Ethical Fund 0.84 0.85 9.74% Stanbic IBTC Guaranteed Investment Fund 198.42 198.42 6.17% Stanbic IBTC Iman Fund 140.05 142.00 7.92% Stanbic IBTC Money Market Fund 100.00 100.00 18.46% Stanbic IBTC Nigerian Equity Fund 8,138.19 8,224.08 7.26% 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 1.26 1.28 11.71% United Capital Bond Fund 1.36 1.36 18.51% United Capital Equity Fund 0.76 0.77 4.12% United Capital Money Market Fund 1.17 1.17 11.14% 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 11.21 11.41 15.94% Zenith Ethical Fund 11.87 11.99 8.60% Zenith Income Fund 17.86 17.86 8.09%

REITS NAV Per Share

Yield / T-Rtn

11.41 126.92

1.01% 2.38%

Bid Price

Offer Price

Yield / T-Rtn

8.84 85.99

8.94 87.58

0.68% 13.46%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.45 7.16 13.68 16.70 129.64

3.49 7.24 13.78 16.90 131.64

25.00% 1.84% 13.77% 4.67% -0.18%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

Blasts Strike Baghdad Days into Ramadan, Killing 27 Two blasts ripped through the Iraqi capital of Baghdad just days into the holy month of Ramadan, killing at least 27 people and wounding more than 100.

ISIL claimed the first and deadliest suicide car bomb attack, which took place shortly after midnight at a busy ice cream parlour in Karrada, killing at least 16 people and injuring at least 75 - with children among the victims.

Scenes of panic and carnage followed the explosion in the Shia district, where last July ISIL bombed close to 300 people to death in the worst attack in 13 years of war.

ISIL considers members of Iraq’s Shia Muslim majority to be heretics and frequently carries out attacks

against them.

A number of wounded lay on the ground, others propped themselves up on the colourful park benches outside the ice cream shop.

One young girl, wearing a ribbon and bow in her hair, wandered the scene dazed.

During Ramadan, people stay up late and many eat out to prepare for the fast the next day.

“Families were out and the place was crowded,” Hayder al-Khoei, a London-based Middle East expert, told Al Jazeera.

Al-Khoei explained that the armed group “timed Tuesday’s attack to cause maximum impact”.

“The suicide bomber detonated himself just after midnight. It was a

hot day and he targeted a popular ice cream parlour in Baghdad,” he said.

Second explosion A second deadly explosion struck the Al-Shahada Bridge area later in the morning, killing at least 11 people and wounding 41, according to security sources and witnesses.

A car bomb there exploded near

the country’s main pension office close to the River Tigris.

Ibrahim al-Zararee, writing on Twitter, said he was close to both attacks.

“I was near the site of the explosion [in Karrada a] few hours before it happened and it was full of life. Now it’s full of death and horror,” he said. “Today

I was few seconds away from [the blast Al-Shahada Bridge]. The explosion today was near the General Retirement Department. A walking distance from the famous Mutanabi Street.”

Video posted to social media showed plumes of black smoke rising from a building.

No group immediately claimed

responsibility for the second bombing, though it also bore the hallmarks of ISIL. Brett McGurk, US special envoy to the anti-ISIL coalition, tweeted after the first attack: “ISIS terrorists tonight in Baghdad target children and families enjoying time together at an ice cream shop. We stand with Iraq against this evil.”

Canada Launches Famine Relief Fund for Nigeria, Somalia, Others Sunday Okobi Canada has launched a famine relief fund for Nigeria, Somalia, South Sudan and Yemen.

More than 20 million people in the North-eastern Nigeria have been suffering lack of food.

Somalia, South Sudan and Yemen are at risk of starvation as a result of severe drought and conflict, while South Sudan is experiencing famine.

Reports have indicated that unless immediate action is taken, others could slide into a similar situation, a dire situation analysts have described as unprecedented.

The Government of Canada is responding to this crisis and is expected to mobilise its citizens

as a response to a global appeal through the creation of the Famine Relief Fund.

Honourable Marie-Claude Bibeau, Minister of International Development and La Francophonie, who launched the initiative on behalf of the government, stated in a statement yesterday that for every eligible donation made by individual Canadians to registered Canadian charities between March 17 and June 30, 2017, the Government of Canada will contribute an equivalent amount to the Famine Relief Fund.

Hunger is having a real impact on young children in particular as some 1.4 million are now at risk of dying of acute malnutrition

and disease. Millions across the four affected countries and the neighbouring regions are in need of basic necessities such as urgent food assistance, water, sanitation services, health care, and shelter.

“Over 20 million men, women and children are at risk of starvation if we do not act now. Canadians have always demonstrated great compassion when it comes to humanitarian crises. I encourage all Canadians to donate to the registered Canadian charities of their choice. Together, we can make a difference and bring relief to people who need urgent help,’’ added Marie-Claude Bibeau.

On March 17, Canada

announced $119.25 million in humanitarian funding to respond to food crises in Nigeria, Somalia, South Sudan and Yemen. Canada was one of the earliest major donors to provide funds for the four affected countries.

On February 22, António Guterres, United Nations Secretary-General, called on the international community to take decisive action to avert further catastrophe in Nigeria, Somalia, South Sudan and Yemen.

The is expected to support Canadian and international organisations currently working hard at providing assistance to those in need in the affected countries and neighbouring regions.

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NEWSEXTRA

FG: Ease of Doing Business Reforms Designed to Bring Back Relocated Coys Says N30,000 monthly mortgage on housing fund has begun in 11 states Omololu Ogunmade and James Emejo in Abuja The federal government yesterday said all its reforms on ease of doing business and the recently signed executive orders were meant to attract back to Nigeria, companies which had relocated to other countries.

The government also said it was committed to ensuring that the country moves up 20 places up the ladder from the 2016 ranking

by World Bank’s Ease of Doing Business Index in the first year and be among the top 100 in the next three years.

Nigeria was in 2016, ranked 169 out of 189 countries by the World Bank Ease of Doing Business report.

Speaking at a workshop organised for government agencies and parastatals in the Conference Centre of the Presidential Villa on promotion of efficiency and transparency in the business environment, the Head of Service, Mrs. Winifred Oyo-Ita, said the government was committed to initiating policies aimed at enhancing business environment.

The workshop was a follow-up to executive orders signed by acting President Yemi Osinbajo respectively on: ‘Promotion of Transparency and Efficiency in the Business Environment; Submission of Annual Budgetary Estimates by All Statutory and Non-Statutory Agencies including Incorporated Companies Wholly Owned by the Federal Government of Nigeria; and Support for Local Content in

Public Procurements by MDAs of the FGN.’ “It is worthy of note that government is committed to creating transparency in the business environment and enunciation of policies that would motivate investors to invest their funds in profitable business activities in the country. It is therefore hoped that all companies that had hitherto relocated from the country some years back, will see reasons to be convinced by the sincerity of purpose being displayed by the present administration in creating conducive business environment for genuine investors for them to be motivated to return,” Oyo-Ita said.

However, yesterday’s workshop centred mainly on “Promotion of Transparency and Efficiency in the Business Environment,” and “Support for Local Content in Public Procurements by MDAs of the FGN.” Government’s move to attract companies back to Nigeria through the policy was spurred by the persistent relocation of productive countries out of Nigeria in recent times. For instance, in 2016 alone, no fewer than 20 shipping firms left the shores of the country over perceived poor government policies and global economic crisis. The aftermath of the relocation was the loss of over 3,000 jobs.

In the same vein, ExxonMobil, Pan Ocean, Sapiem Ground Petroleum, and Hercules Offshore Nigeria Limited, in October 2016, reportedly left the country, also resulting in the loss of thousands

of jobs.

Hence, acting Secretary to the Government of the Federation, Habiba Lawal, remarked that the executive order on transparency and efficiency in business environment was one of the measures taken by the government to ensure prudent management of Nigeria’s resources and enhance business environment.

“The successful operationalisation of the provisions of the executive order requires the collective efforts of us as the critical stakeholders in the public sector. In this regard, the objective of this workshop is an awareness campaign to introduce Presidential Enabling Business Environment Council - Ease of Doing Business Environment Secretariat (PEBEC-EBES).

“Its operationalisation is expected to usher in a new vista in the conduct of government business that would encourage more commitment in the delivery of public services devoid of corruption, indiscipline and ineptitude to deliver the expected promises of the ‘Change Agenda.’ “ In his submission, Minister of Industry, Trade and Investment and Vice Chairman of Presidential Enabling Business Environment Council (PEBEC), Dr. Okechukwu Enelamah, said government was

already receiving testimonies on the effectiveness of the reforms.

Also yesterday, the acting president threw more light on the N100 billion housing fund initiated by the government under its Social Investment Programme (SIP), saying the total cost of some of the houses to be purchased by low income earners on monthly mortgage of N30,000, will be N2.5 million.

A statement by the acting president’s spokesman, Mr. Laolu Akande, said the scheme had already taken off in 11 states of the federation. However, he did not mention the names of such states.

“The N100 billion is a yearly contribution to our N1 trillion Social Housing Fund, the largest in the history of the country. Both the World Bank and African Development Bank (AfDB) are contributors to the fund from which developers will borrow 80 per cent of the cost of the project and counter fund with their own 20 per cent.”

In a related development, the Speaker of the House of Representatives, Hon. Yakubu Dogara, yesterday lamented that the country’s ease of doing business profile was among the worst in the world and called for measures to

quickly reverse the trend.

He also said the Infrastructure Concession Regulatory Commission (ICRC) Act had not in any way helped to promote friendly business environment to boost the economy.

Dogara was speaking at the opening of a one-day public hearing on a bill for an Act to repeal the ICRC Establishment Act, 2005 and enact the Public Private Partnership Regulatory Commission to strengthen and enhance the supervisory role of the commission to assist public and private sectors in enhancing of construction, development, designing, operation or maintenance of infrastructure or development projects of the federal government through public private partnership arrangements and for other matters related there to.

Represented by the Deputy Chief Whip of the House, Hon. Pally Iriase, the Speaker said the National Assembly would do all within its constitutional powers to boost the country’s ease of doing business particularly as the economic begins to show signs of possible exit from recession.

His submission came on a day the Director General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Aminu Diko, said

a lot of ministries, departments and agencies of government (MDAs) currently lacked the requisite capacity to structure and develop bankable public - private partnership (PPP) projects that could attract private sector funds into the country.

He further submitted that while PPPs have been used across the world over the years, they are complex in terms of structuring and execution.

He clarified that while ICRC provide regulatory oversight and does not own the projects, the MDAs are statutorily responsible for providing services as well as developing bankable PPP projects.

The ICRC DG spoke in his submissions at a one-day public hearing on a bill for an Act to repeal the ICRC Establishment Act, 2005 and enact the Public Private Partnership Regulatory Commission to strengthen and enhance the supervisory role of the commission to assist public and private sectors in enhancing of construction, development, designing, operation or maintenance of infrastructure or development projects of the federal government through public private partnership arrangements and for other matters related there to.

Nigerians Suggest N52.4bn Budget for National Assembly Obinna Chima Some Nigerians have proposed a reduction of the 2017 National Assembly budget from the approved N125 billion to N52,490,951,173.

In response to the publication of the National Assembly budget, BudgIT and EiENigeria recently invited citizens to the “#OpenNASS Datathon” on May 20, 2017 with the objective of developing a lean and effective budget for the National Assembly as a standard for Nigeria to reduce the cost of governance.

In reaching the final sum, participants took into account all affiliated institutions, overhead costs, maintenance costs, personnel, research costs and all the line items contained in the 2017 National Assembly budget.

According to a statement yesterday, in suggesting the leaner and more effective budget, the participants noticed the repeated allocations made to each of the Senate, House of Representatives, National Institute of Legislative Studies, National Assembly Service Commission and the Public Accounts Committee (Senate and House of Representatives) for purchase of stationery and computer consumables; training, travel, purchase of motor vehicle, maintenance of the National Assembly buildings and other items.

To this end, they argued that several overhead items which

accounted for 50 per cent of the National Assembly budget could be centralised in the General Services Unit for efficiency.

“The final budget is not without context as citizens observed that N5.2 billion was budgeted for University of Abuja and the National Hospital is due to receive N7.6 billion in 2017. We ask that the reduction of national Assembly spending should continue as acquisition of certain items during the current fiscal year will no longer needed to be added in future budgets.

“These rationales are informed by publicly available knowledge of the activities of the National Assembly, its supporting commissions and current prices of proposed items in the free market.

“In addition, certain items were stripped from the budget for various reasons including duplication of line items and repurchase of already existing items such as cars and furniture which, from publicly available information, were included in the 2016 National Assembly budget,” the report added.

Furthermore, the statement pointed out that beyond revising of the National Assembly budget, BudgIT and EiENigeria would send copies of the recommended budget to National Assembly management and the Acting President for consideration as regards the 2017 budget.

COURTESY VISIT

L-R: Senate Leader, Senator Ahmad Lawan; Senate President, Dr. Abubakar Bukola Saraki; National Chairman, Jama’atu lzaltil Bid’ah Wa’Ikamatis Sunnah (JIBWIS), Sheikh Muhammadu Yahaya Jingiri; and Senator Ahmed Sani Yerima, when the National Chairman of JIBWIS led the national executive of the association on a courtesy visit to the Senate President in Abuja .....yesterday.

Ikoyi Billions: House Committee Investigates NIA To visit agency’s headquarters Thursday The House Committee on National Security and Intelligence is scheduled to visit the Headquarters of the National Intelligence Agency (NIA) as part of its oversight function to unravel the controversy over the $43.4million recovered by the Economic and Financial Crimes Commission (EFCC) Apartment 7B in Osborne Towers, Ikoyi, Lagos.

The committee intends to visit the headquarters of NIA tomorrow, with a mission to verify the sources of the fund and other releases to the agency including budgetary and extrabudgetary allocations for special

interventions.

A member of the committee, who spoke in anonymity to PRNigeria said that “As representatives of the electorate we have the constitutional power to investigate and know what the fund was released for and how the project and other similar ones were executed and whether they follow due process.”

The committee was disturbed that some security agencies were in the habit of hiding under security votes by avoiding legislative scrutiny.

The member of the committee said: “The agency has deliberately refuse to honour our invitation

by citing National Security Act Instrument. We have the right investigate this controversy that disturbs every Nigerian as mandated by the constitution, especially Section 88 as amended.

“As you may be aware for the purposes of any investigation under section 88 of the constitutional the Senate or the House of Representatives or a committee appointed in accordance with section 62 have power to procure all such evidence, written or oral, direct or circumstantial, as it may think necessary or desirable, and examine all persons as witnesses whose

evidence may be material or relevant to the subject matter.

“In addition, the legislature also has the power to require such evidence to be given on oath; summon any person in Nigeria to give evidence at any place or produce any document or other thing in his possession or under his control.

“The purpose of the oversight function is to avoid anyone playing hanky-panky over the incident that rattled the nation,” he concluded.

The members of the committee are billed to visit NIA and other related agencies this week.

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Expect Surprises in Power Supply Growth, Fashola Tells Nigerians As power generation peaks at 4000MW Onyebuchi Ezigbo in Abuja The Minister for Power, Works and Housing, Mr. Babatunde Fashola, has promised Nigerians positive surprises in the efforts being made by the federal government to ensure stable power supply in the country.

He said the ministry had enunciated a couple of policies and actions under the power sector recovery programme which is part of the implementation of the economic recovery and growth plan of the government targeted at stabilising the economy.

Fashola, who briefed the National Chairman of the All Progressives Congress (APC), Chief John Odigie-Oyegun and members of the party’s National Working, Committee (NWC) as apart of the midterm performance assessment, told journalists that despite the challenges posed by gas supply, the country was already witnessing incremental power supply.

He said as at yesterday, power generation capacity had peaked at 4000MW, with more increases being expected in the days ahead.

“We are already having incremental power and in spite of the setback, we have had with the gas supply, as at yesterday average power generation was

over 4000MW.” Fashola who said he was at the party national secretariat to take his turn in presenting the progress chat to the party leadership, urged Nigerians not to lose hope yet as some of policies already put in place are bound to meeting their expectations.

“We are going to see that we get to those milestones of progress. There are milestones even though the time is not yet finished. But this is halftime, as you know in football even at halftime when it is draw, there is alway a room for surprising results and Nigerians should expect surprises at the end of this mandate that they have given us.

“I will say that l am concerned that the need to produce stable power in order to serve the people and grow the economy, l will say that l am concerned but it is not my nature to panic because there is a plan and l have told you about power sector recovery programme.

“You see I am a person driven by methods, so is this government; so is this party.

We are a party of methods and l think that Nigerians would benefit more from the implementation of

our plans because they have taken time to be put together and they are well thought out.

“I am optimistic that the story can only get better, and as you access our performance, continue to access it within the contest of what is clear sabotage and damaged to pipelines and if you continue to puncture the fuel tank in your car, don’t expect that the car would run for a long distance,” he stated.

On the promise made by the party about interrupted power supply, Fahola said: “That is still behind what we achieved last year,

but when we relate this period last year to now where we’re at about 2000MW and we still have not restored all of the damage in the gas lines’ confidence is coming back to the sector and the institutions are being reconstituted such as NERC, Rural Electrification Agency and there will be more as we go on.

“Government has also enunciated a couple of policies and actions in the power sector recovery programme which are part of the implementation of the economic recovery and growth plan of the government. So there is a lot

to hope for, the power sector story and indeed the whole economy is a journey and not an event.

On the problem being encountered by electricity consumers over estimated billing and inadequate supply of electricity metre, the minster said the issue is being addressed, adding that a lot needed to be done by the companies to connect most of consumers with metering facility.

“We have metered some consumers; while many have not metered at all. And I think we should be careful as we choose

our language. There is a lot of distance they still need to cover and there’s room to improve. We are not pleased with the number of people who are yet to be metered.

We are still not pleased that people are receiving estimated bills. And we think that discos can do more “Yes, it is our responsibility to fix it but there is also a sense of ownership in ensuring that all of us are in a common country; the same place that everybody would benefit, no matter how aggrieved you are, if there is more power,” he said

Senate Passes Bill on Mutual Assistance on Cross Border Crimes Damilola Oyedele in Abuja The Senate yesterday passed the bill for mutual assistance in criminal matters between Nigeria and other foreign countries to facilitate the identification, tracing, freezing, restraining, recovery, forfeiture and confiscation of proceeds, property and other instrumentalities of crimes.

The bill, an executive one, would provide a legal framework that would strengthen the fight against corruption, terrorism, economic and

financial crimes, money laundering and other related offences.

It would also facilitate the voluntary attendance of persons in the requesting state. The Senate passed the bill following the adoption of the report of its Committees on Judiciary, Human Rights and Legal Matters, Anti-Corruption and Financial Crimes, and Foreign Affairs.

The bill is also intended to effect the temporary transfer of persons in custody to assist in investigations or appear as witnesses, facilitate obtaining and preserving of

computer data, and providing any other assistance that is not contrary to the law of the requesting state.

Presenting the lead debate, the Chairman of the Committee on Judiciary, Senator David Umaru (Niger East), said the enactment of the law is paramount to the anti-corruption drive of the government, as it seeks to eliminate territorial jurisdictional constraints in the prosecution of cross border crimes.

“The globalisation and advancement in information and communication technology have

made it imperative for a legislation of this nature to be put in place in order to promote cooperation for the prosecution of cross border offenders and transnational organised crimes,” he said.

Umaru explained further that the scope of the bill has been widened from the Mutual Legal Assistance in Criminal Matters in the Commonwealth (Enactment and Enforcement) Act 2004, to assume international dimensions in participation and laundering of the proceeds of crime.

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Chibok Girls Begin Four Months Remedial Studies Olawale Ajimotokan in Abuja

The 106 freed Chibok schoolgirls yesterday embarked on a fourmonth remedial and integration programme to prepare them for regular ordinary level academic activities in September.

At an emotional ceremony yesterday, the Department of State Services (DSS) formally handed the girls to the Minister of Women Affairs and Social Development, Mrs. Aisha Alhassan and representatives of international agencies, United Nations Population Funds (UNFPA) and The United Nations Children’s Fund (UNICEF).

The girls, who were released in two batches following an internationally brokered

prisoner- swap deal with Boko Haram insurgency group, would be camped at the Women Development Centre, Abuja for the duration of the rehabilitation and remedial course.

The facility was given after a thorough check ordered on Monday by the Minister of Health, Prof Isaac Adewole.

Before they were admitted to the centre, the girls did a series of tests at the Federal Staff Clinic.

The Director Medical, DSS, Dr. Ann Okoroafor, handed the girls over to Alhassan after the second batch comprising the recently released 84 schoolgirls, were investigated and profiled.

Though some of the girls are still having medical issues, Okoroafor said they were psychologically

stable.

At the centre, they would undergo psychotherapy to let them overcome the trauma of the physical and mental abuse they were subjected to while in the captivity of Boko Haram since April 2014.

Alhassan said they would receive compulsory training in ICT plus vocational skills in two trades, while the remedial course would in five courses, including English Language, Mathematics, Biology, Agricultural Science and Civil Education.

They will also participate in games, drama, literary and debate, competitions in addition to several

cultural exchanges.

She, however, insisted that their social engagements would be curtailed from public scrutiny as government would not want to turn the girls into celebrities and accord them special treatment over other Nigerians.

The minister stressed that the camp will close down in September at the beginning of the school year, when the federal government is expected to formally hand over the girls to their parents and guardians.

“After the therapy and remedial course, we will enroll them in any schools of their preference in Nigeria after which they will go back to their community. If we

keep them beyond September, and we want they will lose an entire school year want to avoid that instance,” Alhassan said.

The centre will handle their medical cases while the cases that cannot be handled in-house house will be referred to the DSS Heath Centre and the Federal Staff Clinic.

It was gathered that two medical doctors and two nurses would be attached to them, while there is a request for a standby ambulance in the case of emergency.

The girls will stay two in a room and for their education they will be spletted be split into

four classes. Overall 20 teachers specialising in all specified disciplines will be involved, while each classroom will boast of five teachers.

Alhassan said they had the voluntary consent of the Chibok girls and their parents to keep them at the centre.

She added that any of the girls that wished to be withdrawn immediately from the programme would be released in respect of her wish.

Eugene Kongnyug was represented the UNFPA, while Dr. Nicholas Audifferen represented the acting President, Prof. Yemi Osinbajo, at the occasion.

Attack on Army Barracks Foiled in Maiduguri Michael Olugbode in Maiduguri An attempt to attack an army barracks in Maiduguri was foiled by vigilant soldiers, the military said yesterday.

A statement issued by Colonel Onyema Nwachukwu, the spokesman of the military counter-insurgency operation, Operation Lafiya Dole, said: “An intruder had attempted to gain access into Giwa Barracks through the defensive position at the back of the barracks but was challenged by vigilant troops

on sentry.”

“All attempts to halt the intruder failed and as he attempted scaling over the second barbed wire obstacle, he was gunned down by own sentry at the tango.

Investigation is ongoing.”

In another development yesterday afternoon, Boko Haram insurgents killed five internally displaced persons (IDPs) at Nguru Nguro village of Konduga Local Government Area of Borno State.

A source said the victims were residents of Bale Shuwari located five kilometres away from Giwa Barracks, Maiduguri city.

Ambode’s Wife Tasks Women on Skills Acquisition Wife of the governor of Lagos State, Mrs. Bolanle Ambode, has charged women in the state, to utilise the opportunity provided by various skills acquisition centres built by the state government, to get skills for their economic empowerment.

She made the remarks at the commissioning of the Funmilayo Mobolaji Johnson Skill Acquisition Centre, in Ajah, a suburb of Lagos, donated by two firms, Huawei Technologies Limited and Fortis Project Services.

According to her, it was not fashionable for women to be idle and expect the husband to bankroll the family expenses, stressing that having something to contribute to home upkeep, go a long way in lifting the family.

In a statement made available to THISDAY yesterday and signed by the Assistant Director, Public Affairs, Mrs.Folasade Kadiri, Ambode’s wife said:, ‘It is not advisable that ladies and women should live entirely on the income of their husbands. It is always helpful that the woman has something to contribute to the upkeep of the home. It also puts her in a respectable position in the family”.

She disclosed that the state government had built about seventeen skill acquisition centres around the state, that train women, ladies, widows and school dropouts, in skills like leather works, hat-making, carpentry, shoe-making, soap-making, dress-designing and computer-studies among others.

SEASON’S GREETINGS

L-R; Representative of Lagos State Governor/Head of service, Mrs. Adebowle Ademola; Emir of Kano, Mallam Mohammed Sanusi II; new ICAN President, Mallam Ismaila Zakari; and Ogun State Deputy Governor, Mrs. Yetunde Onanuga, during the investiture of 53rd ICAN President in Lagos, yesterday Sunday Adigun

2019: Amosun Endorses Ogun West for Governorship Warns against ‘imported’ candidates Ogun State Governor, Senator Ibikunle Amosun, has given an inkling of where the gubernatorial political pendulum may swing in Ogun State, come 2019.

Speaking at the inauguration of members of the Consultative Advisory Councils for the 57 local government and local council development authorities in Ogun State yesterday, the governor declared his intention to support and actively campaign for a governorship candidate from

the Ogun West senatorial district as his successor.

Addressing a large crowd of party faithful, he said in the interest of fairness, equity and justice, he would not support or campaign for any candidate from the Ogun Central senatorial district that produced him as a two-term governor.

Amosun also said that he would not support any candidate from the Ogun East senatorial district and also not campaign against them.

He was however quick to

warn the people of Ogun West senatorial district to ensure that they put their house in order and avoid the temptation to want to impose individuals he described as “imported politicians” as governor in Ogun State.

“This is Ogun State, we know ourselves and we should not allow anybody to impose people we don’t know on us as governor,” he said.

While speaking on the importance of the LG/LCDA Advisory Council, Amosun said it will further entrench participatory governance at the grassroots level

and strengthen the principle of democracy in the state.

Earlier, in his welcome address, the Commissioner for Local Government and Chieftaincy Affairs, Chief Jide Ojuko, urged the appointees to be honest and justify their inclusion in governance.

In their separate goodwill messages, royal fathers from the three Senatorial Districts of the state took turns to advise the newly inaugurated Advisory Council members to see their appointments as a call to service.

Aregbesola Swears in Commissioners, Special Advisers YInka Kolawole inOsogbo The Governor of Osun State, Mr. Rauf Aregbesola, yesterday swore in his 39-member executive council, comprising commissioners and special advisers, thereby inaugurating the team that would accompany him in what he called “our home run.”

On the list of the commissioners are an Associate Professor of Economics, Olalekan Dauda Yinusa; a Doctor of Law, Ajibola Basiru, and a former Senator, Mudasiru Hussain.

He announced that he as well as his deputy, Iyaafin Grace Titi LaoyeTomori, were dropping their portfolios in Works and Infrastructure and Education ministries respectively for new entrants in the cabinet to allow for more effective policy coordination and supervisions.

The governor, at the inauguration at the parking lot of Bola Ige House in Osogbo, stated that the inauguration was long overdue, but for

dire constraint of funds.

Aregbesola stressed that the state was not insulated from the financial challenges that the country had during the Peoples Democratic Party (PDP)-led administration.

He held that the state was receiving negative monthly allocations from the Federation Account during that period, saying what hit Nigeria during this period was the equivalent of economic disaster and the state was not alone.

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Plateau PDP Tackles Lalong over Mid-term Failures Governor: Claims are frivolous Seriki Adinoyi in Jos The Peoples Democratic Party (PDP) in Plateau State has challenged the governor of the state, Mr. Simon Lalong, to explain how it spent over N97billion he received in the first year of his administration, N18billion taken as loan from commercial banks, N4.5billion he spent on exotic cars, and why his government could not commission a project in two years of the administration.

But Lalong has immediately dismissed the figures touted by PDP and the allegations as frivolous and mischievous, aimed at scoring cheap political points.

Addressing journalists yesterday, the state Chairman of PDP, Mr. Damishi Sango, said the All Progressives Congress (APC)-led administration in the state is marked by uncanny excuses for non-performance, and was always eager to take loan from banks.

“Lalong tried to disparage his predecessor by setting up a judicial commission

of inquiry, but where is the result to show for his own flagrant waste of state resources? Two years into governance, Lalong report card shows him on fall and low on credit.

“These are figures we can authenticate, APC should come out and contest it if they feel what we are saying is out of context.

These are figures we can defend, we are engaging them with facts, let them come out,” Sango challenged.

He added: “So bad is it that they cannot even celebrate fifty years of the existence of the state.

Instead, commercial prayers sessions were organised. In addition, funds are being wasted on celebrating carnivals in a state where basic amenities cannot be provided; we have followed development in other states where golden jubilee celebrations were used to commission special projects. The Plateau State government, to the contrary, has nothing to commission.”

But Lalong’s Special Adviser on Media, Mr. Dan Manjang,

said the PDP in the state was being economical with the truth and frivolous in its claim.

He challenged the party to come up with documentary evidence of all the money they alleged government had collected.

He added that there are a lot of projects completed by the Lalong’s administration awaiting commissioning, and that it was not compulsory for the government to include commissioning of projects as part of the celebration of his two years in office.

“Commissioning is an item on its own which will soon be done in all the 17 local government areas of the state.

Life does not begin and end with commissioning of projects; there are projects ready for commissioning across the state and that would be done at appropriate time.

“We refuse to be stampede by the so call opposition party, especially the PDP. We would not join issues with them because it has more problems at hand and my advice to them is to come up with constructive criticism that would advance democracy and governance in the state,” he advised.

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AGF, NDLEA: Kashamu Would Not Be Extradited Until Court Cases are Over Alex Enumah in Abuja The Attorney General of the Federation and Minister of Justice (AGF) and the National Drug Law Enforcement Agency (NDLEA) have

said Senator, Buruji Kashamu will not be extradited to face drug-related offences in the United States until all court actions in respect of his extradition are resolved.

Both the AGF and the

NDLEA gave the indication in the court processes they filed before the Federal High Court in Abuja.

Kashamu who is representing Ogun West in the Senate had

Melaye Denies Allegations of Bribing Tribunal Judge Senator Dino Melaye (Kogi West) has denied allegations that he bribed a tribunal judge, Justice Akoh Ikpeme, who was in charge of his election petition case for the 2015 senatorial elections.

A purported audio-tape on the telephone conversation between Melaye and Justice Akoh has been trending on the social media since yesterday morning where the judge allegedly asked the senator to help her ‘daughter’ secure a job with the Cross River Ministry of Health.

Melayeallegedlysaidhehadspoken to the state Governor, Prof. BenAyade, on the issue.

The judge was also allegedly asking for bribe in dollars.

Akoh was the tribunal judge in the Kogi West senatorial district election petition between Senator Smart Adeyemi of the Peoples Democratic Party (PDP) and Melaye.

Navy Day: Indian Naval Ship Arrives Lagos Today Eromosele Abiodun An Indian naval warship, INS Tarkash, will today arrive in Lagos on a scheduled goodwill visit.

The visit of the Indian warship coincided with the Nigerian Navy Day that is celebrated every year on June 1.

The Defence Adviser, High Commission of India Abuja, Captain (IN) Gautam Marwaha, in a statement, said the visit of the ship at this opportune moment reiterates the strong bond between both navies in the larger context of growing bilateral defence cooperation between India and Nigeria.

“It also reflects the commitment of the Indian Navy to collaborate with the Nigerian Navy in the face of growing global maritime security challenges. A joint exercise will be conducted between Nigerian and Indian navy ships at the end of the visit.

“The visiting ship, INS Tarkash is a state-of-theart inaugurated into the Indian Navy on November 09, 2012. Packed with a high density of weapons and sensors and manned by a highly motivated crew of 300 personnel, she is one of the most potent platforms of the Indian navy.

“The ship carries cutting edge weaponry which includes supersonic anti ship missiles, advanced surface to air missiles, medium range guns, close in weapon system, anti-submarine and anti-ship torpedoes and rocket launchers.

Powered by four gas turbines and sophisticated controls, the ship is capable of doing speeds in excess of 30 knots.

Reacting to the allegations on his twitter handle @dino_melaye, Melaye said the voice in the audio recording was not his.

“They are using voice over to malign me because my case with them comes up in a few days time.

(June 5, 2017)” he said.

Melaye in March 2017 filed a

N5 billion suit against the online medium, for defamation and libel, following reports by the medium that he did not graduate from the Ahmadu Bello University (A.B.U), Zaria. In the suit filed at the Federal High Court, Abuja, Melaye is also seeking N10million as the cost of the legal action.

dragged the two agencies before the court seeking their committal to prison over allegation that they were planning to forcibly kidnap and abduct him to the US for trial in drug-related offences.

However, at the resumed hearing of the matter yesterday, Kashamu told Justice Gabriel Kolawole through his counsel, Chief Akin Olujimi (SAN), that the AGF and NDLEA have agreed not to extradite him until all court actions on the issue have been resolved.

Olujimi said in view of the assurances from the two parties, there was no need to pursue any court action against them at the Federal High Court level.

He applied to Kolawole to

grant him leave to withdraw the suit against the AGF and NDLEA in view of the assurances not to extradite him to US until all cases are fully resolved.

The counsel told the judge that both parties would now go back to the Court of Appeal to continue with the appeal cases that emanated from the refusal of the Federal High Courts to grant the extradition request.

Counsel to the AGF, Mr. Tanko Ashang, a Deputy Director and Head of Central Authority in the Federal Ministry of Justice and that of the NDLEA, Mr. Mike Kassa, did not object to the withdrawal of the case and the resolve to go

to the Appeal Court to pursue all pending appeals.

Justice Kolawole in his brief ruling granted the leave for the withdrawal of the suit and the decision to shift to the court of appeal for the pursuit of the appeals.

“In the light of the application of the applicant to withdraw this suit and to move to Court of Appeal to pursue all pending appeals in respect of the extradition matter, leave is hereby granted for withdrawal of this suit.”

Kashamu had filed an application in court seeking the committal of the AGF and NDLEA to prison for allegedly making plans to forcibly abduct and transport him to America.

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Afenifere Urges Osinbajo to Implement National Conference Report James Sowole in Akure In view of the support that the call for the restructuring of Nigeria Federation is enjoying from prominent Nigerians, the Pan Yoruba Socio-Political Group, Afenifere, yesterday called on the Acting President, Prof Yemi Osinbajo, to set process in motion for the implementation of the recommendations of the 2014 National Conference.

The group made the call in the communique issued at the end of its quarterly meeting held in the residence of its National Leader, Chief Reuben Fasoranti, in Akure, Ondo State.

The communique was read

by Chairman of the Organising

Committee of the group, Chief Korede Duyile.

Afenifere said the comments by the former Head of State, Gen Yakubu Gowon (rtd), the former President, Goodluck Jonathan and the former Vice President, Atiku Abubakar, showed that more Nigerians were convinced on the need to restructure the country.

The group also expressed concern in the bloodshed being caused by the rampaging herdsmen in various parts of the country.

It condemned what it described as the federal government indifference to the matter which it said if not addressed can cause bugger problems for the country.

Afenifere said people who

were being attacked might be forced to result to self help unless the government gives it the desired attention.

As part of solutions to address the issue, Afenifere called on states in the South-west to take constitutional action by making

laws to regulate grazing as done by the Ekiti State Governor, Mr. Ayodele Fayose.

Afenifere also called on the

Federal Character Commission to address the issue of alleged lopsidedness in the appointment into security agencies.

2019: APC Has No Electoral Value, Says Wike Rivers State Governor, Nyesom Ezenwo Wike, has declared that aside the plans by the the All Progressives Congress (APC) to rely on the security agencies to rig elections in 2019, the party has no electoral value.

He said the disgraceful poor performance of the party has totally devalued it.

The governor said Nigerians have discovered that the APC is full of empty promises, with no accompanying implementation.

Inaugurating the Igbogo road in Obio/Akpor Local Government Area yesterday, Wike said: “Several promises, not one fulfilled. I have challenged the APC to come to Rivers State and say what they have done.

“If not for the dependence on security agencies for rigging of elections, no APC member will come forward to contest elections.”

The governor said where

democracy is practised in line with the rule of law, PDP members would have gone to sleep, knowing they would walk over APC in 2019.

On developments in Rivers State, the governor said while other state ended their democracy day on Monday, his administration would continue the inauguration of several projects in the coming weeks.

He said for the people of Akpor Kingdom, the administration has executed projects in all the ten communities of the area.

He informed that the Rivers State Government will start the to reach out to all supporters, which will be in form of direct empowerment.

Commissioner for Works, Iheanyichuwu Bathuel, said the Igbogo road has revived the community, adding value to the residential houses in the area.

The Choba community in appreciation of the new road conferred a chieftaincy title to Wike.

Capital Oil Wokers Call for Ubah’s Release Say 2,000 workers at risk of losing jobs Members of staff of Capital Oil and Gas Industries Ltd have cried out to the federal government to ensure the release of their Chairman, Mr. Ifeanyi Ubah.

Ubah is currently in the custody of the Department of State Services (DSS).

The DSS last week secured an order from an FCT High Court to further keep him in detention for another 14 days after an earlier order granted the security agency lapsed.

On the same day, a Federal High Court in Lagos ordered the DSS to either charge him to court or release him within 48 hours.

A statement issued by Mr. Saturday Igbarease, the Manager, Distribution, Capital Oil and Gas Industries Limited, said Ubah’s continued detention has led to the shutdown of operations at Capital Oil and Gas with about 2,000 workers currently on the verge of loosing their jobs.

As another month ends, the workers are particularly worried as there is no hope of receiving salaries.

They said their situation is made

worse in the face of the hard times currently being experienced in the country.

They called on the federal government to intervene in a bid to avert the impending starvation of their families.

“The injustice meted on Ubah is negatively affecting over 2,000 workers of Capital Oil. “The federal government should be mindful of the implications on our families who are gradually been forced to starve,” he concluded.

The workers are therefore calling on the Acting President, Prof. Yemi Osinbajo, the Senate President, Bukola Saraki, the Speaker of the House of Representatives, Hon. Yakubu Dogara and the Minister of Labour and Employment, Senator Chris Ngige, to intervene and ensure the release of their chairman so that their business can resume to save the jobs of the over 2,000 workers.

The DSS had arrested the businessman over allegations of “economic sabotage” and alleged diversion of petroleum products to the tune of N11 billion.

HOSPITAL MANAGERS

R-L: Former National President, Guild of Medical Directors, (GMD), Dr. Tony Phillips, Representative of Minister of Health, Dr. Joe Amedu; Executive Secretary, National Health Insurance Scheme, Prof. Usman Yusuf; Chairman, Local Organising Committee, Dr. Wisdom Ihejieto; and Secretary General, Federal Capital Territory (FCT, GMD), Dr. Michael Kumeh, at the 24th annual general meeting/scientific conference in Abuja....recently

House Asks FG to Probe Illicit Importation of Firearms James Emejo in Abuja The House of Representatives yesterday passed a resolution urging the president to direct the National Security Adviser (NSA), the Director-General of the Department State Services (DSS), the Inspector–General of Police, the Comptroller–General

of Customs and other security agencies to carry out a thorough investigation of the incidences of illicit importation of firearms and prosecute those behind it.

It also mandated the Committees on National Security and Intelligence, Customs and Excise and PoliceAffairs to interface with the relevant security agencies to determine the state of

investigations of the matters and report back within four weeks for further legislative action.

It followed a motion sponsored by Hon. Nkeiruka Onyejeocha calling for transparency in the investigation of illegal importation of firearms into Nigeria.

The House recalled that on January 22, operatives of the

Nigeria Customs Service had intercepted a trailer along Mile 2 Apapa Road, Lagos conveying a container of 661 illegally imported pump action rifles; Following the interception of the firearms, three people were arrested and about four customs officers involved in clearing the container were also detained.

the unknown while some school pupils, who were apparently not been aware of the sit-at-home order, returned home.

A few private schools that opened were cautious and made sure that their gates were closed and visitors partially restricted.

Only a few commercial vehicles, mainly tricycles were seen yeserday morning plying the major routes in the city. However, the blue and white painted commercial buses stayed off the streets until later in the afternoon.

Also, the popular Ogbeogono market situated in the heart of Asaba was deserted for most part of the morning until about noon when scanty business activities were noticed in and around the usually busy market.

Most shops and business outlets, including filling stations, were also shut in Asaba metropolis.

The Delta State Police Command spokesman, Mr Andrew Chiamaka, a deputy superintendent of police (DSP), dismissed the notion that people complied with the IPOB directive.

“All I can say is that the entire area is calm,” Chiamaka told THISDAY on the phone.

Another contiguous state to the South-east zone, Rivers State, recorded partial compliance.

However, most residents in the Port Harcourt metropolis went about their business, ignoring the calls for sit-at-home order by the pro-Biafra groups.

The areas where there seemed to be a partial compliance of the order were the Igbo traders-dominated areas like the Ikoku spare parts market, building materials market at Mile 3, the electrical materials market at Okija, and the Mile 1 areas of Diobu where many shops remained closed.

However, even in these areas, petty traders sampled their wares while people moved about unmolested. Rumuwoji (Mile 1) market was also open and people carried out their transactions.

Elsewhere, shops were open and people engaged in their daily business and transactions, while corporate institutions were open and the civil service fully operational.

In Yenogoa, the Bayelsa capital, partial compliance was also recorded, as many shops and roadside restaurants operated

by Igbo people in the state capital were closed.

Those who operate commercial taxis and tricycles also stayed away from their routes, while the busy Mbiama-Yenagoa road and the Isaac Boro expressway were largely empty with very few vehicles and tricycles moved around.

The popular mechanic village in Etegwe suburb of Yenagoa dominated by Igbo traders was under lock and key, while all major supermarkets as well as stalls owned by Igbo were completely shut in compliance with the order.

On Monday, it was learnt that IPOB loyalists had distributed flyers

around the capital, demanding full compliance with the order.

Many Igbo people in some neighbourhoods were also said to have held meetings before yesterday to sensitise themselves on the importance of the sit-at-home protest.

Security patrol vans manned by riot policemen were seen at strategic junctions ostensibly to forestall any breakdown of law and order, while quite a handful of Igbo traders carried out businesses in partial compliance.

When contacted, Asinim Butswat, the Police Public Relations Officer, Bayelsa State Command, confirmed the deployment of anti-riot policemen in flash points within Yenagoa to prevent the break down of law and order.

Aside the partial compliance, the action did not fully ground commercial activities in Yenagoa, because many shops in city are owned by people who are not of Igbo origin.

In Lagos, traders at Alaba International market in Ojo Local Government Area, the Trade Fair market, along Lagos-Badagary expressway and places in Ikeja dominated by the ethnic group, went about their different businesses as they would on a normal day.

A businessman who pleaded anonymity said that if he were in his hometown in the east, he would have remained indoors today, reported online new site, The Cable.

He added that some of his business associates in Lagos remained at home in the spirit of the commemoration of the day.

“We are foreigners in this land and we are under the federal government, so we can come out,” he said. “There are some of my friends who stayed at home because we understand what they are going through.

“We feel for those over there because they are suffering. There is no movement in the east. If I cross the River Niger to my village, I will not come out today.

“I can remember, May 30, 50 years ago, when the Biafran declaration was made.”

Omife Sunday, a dealer in phone accessories at Trade Fair, said that they commemorated the day in their own way.

“We are here celebrating it here, in our own way,” Sunday said.

“There are people that came out while there are those who stayed at home.”

Another businessman said though he did not follow the sit-at-home directive, he believes in the Biafran ideology, adding that if the opportunity came, he would secede with the Biafrans.

“If everyone is asked to leave, I’ll leave too. The directive is for only those in the village, not for Lagos. That is where Igbo people are based,” he said.

“This is a general place. We have other tribes here.”

62

T H I S D AY WEDNESDAY MAY 31, 2017

T H I S D AY ˾ WEDNESDAY, MAY 31, 2017

63

WEDNESDAYSPORTS

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

Iheanacho Back in Eagles Camp, Osimhen to Miss Togo Clash

Duro Ikhazuagbe Kelechi Iheanacho returned to Super Eagles training camp in Paris yesterday ahead of tomorrow’s international friendly with the Hawks of Togo in the French capital.

Although details of his impending move from Manchester City still remain hazy, the Etihad team is believed to be discussing terms with West Ham United with emphasis on a buy-back clause in the contract. The Hammers officially tabled 20million pounds bid for the 2013 FIFA Under-17 World Cup winner.

Iheanacho has also kept details of his trip to Manchester to himself, refusing to disclose his next base with any of his teammates.

Super Eagles official twitter handle gleefully announced the return of Iheanacho to Paris yesterday afternoon. “@67Kelechi Iheanacho, who left our Paris camp last Saturday to clear up some personal matters, has since rejoined the team.”

The City forward scored a late equaliser for Eagles in the 1-1 draw against Corsica last Friday in Ajaccio.

But while Eagles handlers are celebrating the return of Iheanacho to camp, Nigeria’s other youngster Victor Osimhen was also expected to link up with the team last night ahead of Thursday’s clash with Togo in Paris.

The 18-year-old forward who

was involved in Wolfsburg’s 1-0 Monday night defeat of Eintracht Braunschweig in the return leg of the Bundesliga qualification playoffs, was being expected to arrive the camp last night. Wolfsburg triumphed 2-0 on aggregate and retained their Bundesliga status for next season Camp sources said Osimhen was not likely going to be one of the 19 players to take part in the friendly against Togo.

Eagles official social media handle however announced that Osimhen will be in Paris with the national team but not as one of the players selected for the game.

“Wolfsburg of Germany teenage star Victor Osimhen is on his way to our camp in Paris,” the Super Eagles tweeted yesterday.

Austrian Wein striker Kayode Olanrewaju, Henry Onyekuru and Stephen Odey are the other three forwards in camp listed for the game.

“In camp for Togo friendly: Ezenwa, Alampasu, Ebuehi, Abdullahi, Echiejile, Olatunbosun, Ekong, Awaziem, Agbo, Agu, Etebo, Alhassan,” the Super Eagles tweeted on Tuesday via their verified handle.

“Iwobi, Musa, Olanrewaju, Onyekuru, Ndidi, Odey, Iheanacho. These players will prosecute the friendly vs Togo.”

Osimhen is yet to make an official appearance for the Super Eagles since he was called up by Gernot Rohr last year.

2017 Okpekpe Winner Shines in Canada Race Ethiopia’s Leul Gebresilase, winner of the men’s race at the fifth edition of the Okpekpe International 10km Road Race held three weeks ago in Okpekpe near Auchi in Edo State has proved he is one of the athletes to watch out for this season.

The 24-year-old who came second behind Kenya’s Korio Alex Olotptip at the third edition of the Okpekpe race in 2015 before breaking the Kenyan dominance over a fortnight ago ran a personal season best time of 28:43 to win the IAAF Gold Label Ottawa 10K in Ottawa, Canada at the weekend.

“This is a confirmation of the fact that we brought truly world-class athletes to compete at the Okpekpe race. We brought gold-level running athletes to compete in a bronze label event which shows our ambition to move up the ranking into gold in no time,” said Dare Esan, spokesman for the Okpekpe race.

Meanwhile, Esan has hailed the Nigerian media as well as the Nigeria Police Force for their roles in making the fifth edition of the race a huge success. ‘’The publicity which the fifth edition of the Okpekpe race enjoyed is second to none and this is thanks to the Nigeria media. Without the media, the race would have lost its substance as not many people would have had the opportunity to follow the events locally and far beyond,” said Esan who added that through the media the race was presented with electrifying

beauty which has made it attractive to sponsors who have also helped in ensuring the IAAF Bronze Label race is sustained”.

Esan is particular about the contribution of SuperSport Nigeria, Africa Independent Television (AIT) and Channels Television who are official media partners of the race.

“We want to say a special thank you to SuperSport who have been worthy partners since the start of the race. We thank them for also helping out with the kids in Etsako East local government with their ‘Let’s Play’ programme, a corporate social responsibility initiative they developed in response to a national need.

“About 3,000 kids benefited from this initiative a day before the main Okpekpe race. For these children, a seed has been sown and they will draw inspiration from their experiences for years to come,” said Esan.

“We cannot also forget the role played by Channels, especially its Chief Executive Officer, John Momoh who instituted prize money for athletes who come from North Ibie, a large homogenous group of people found in Okpekpe Clan and the three Ibie Clans of Imiegba, Imiakebu and Itsukwi of Etsako East Local Government Area of Edo State”.

Esan also praised the Federal Road Safety Corps and Nigeria Police Force for providing security and adding colour to the whole event.

L-R: Managing Director MDS Logistics, Solomon Aigbavboa, GMD/CEO UACN Plc., Larry Ettah, Managing Director UPDC, Hakeem Ogunniran presenting prizes to winners at Season 5 of the UAC Trophy Race sponsored by MDS Logistics at the Lagos Yacht Club last Saturday

Wenger Agrees Fresh Two-year Contract at Arsenal Arsenal boss, Arsene Wenger, has agreed a new two-year contract, extending his 21-year reign at the club.

Wenger and club owner Stan Kroenke met on Monday to determine the Frenchman’s future, with the decision relayed to directors at a board meeting yesterday.

Arsenal is planning to make an official announcement today.

The Gunners were fifth in the Premier League this season, the first time they have finished outside the top four since the Frenchman joined in 1996.

They finished 18 points behind champions Chelsea, but beat the Blues 2-1 to win the FA Cup at

Wembley on Saturday.

Wenger’s contract was set to finish at the end of the current campaign.

Wenger led the Gunners to three Premier League titles and four FA Cups in his first nine seasons in charge.

In 2003-04, he became the first manager since 1888-89 to lead a team through an entire top-flight season unbeaten.

But after winning the 2005 FA Cup, they had to wait another nine years - or 3,283 days - for their next silverware. It came as they beat Hull City to win the 2014 FA Cup, before winning the trophy again the following year.

Some Gunners fans turned

on the 67-year-old Frenchman as a result of their league performances and they lost 10-2 on aggregate to Bayern Munich in the Champions League last 16 in March.

They finished the league season with five successive victories, but it was not enough to carry them above Liverpool to take the fourth and final Champions League spot.

Wenger told BBC’s Football Focus on Saturday the criticism he has faced this season is “a disgrace” he will “never forget”.

Anti-Wenger banners were held aloft by Gunners fans in the closing stages of a 3-1 defeat at West Brom on March 18, while

in the first half two planes towed banners over the ground - one criticising the manager and the other supporting him.

After that loss, Wenger said he had made a decision on his future which he would announce “very soon”.

He faced significant criticism around that time, with former Blackburn and Celtic striker Chris Sutton telling BBC Radio 5 live on 20 March that Wenger was “an uncle who doesn’t want to leave the party” and was running a “dictatorship”.

Chelsea manager Antonio Conte, meanwhile, described Wenger as “one of the best managers in history”.

Beat S’Africa for Keshi, Amodu, Ex- Eagles Plead As the death anniversaries of two prominent Super Eagles’ figures, Stephen Keshi and Amodu Shaibu fall within the week of the potentially explosive Africa Cup of Nations qualifiers with South Africa, many former internationals are urging the Super Eagles to win well to mark the anniversaries.

Keshi’s anniversary is three days to the match while the match day marks the first anniversary of

Shaibu, a former three-time coach of the team.

In separate interviews with Sports Village Square, the former international players were united in their advice.

Etim Esin, a stocky and power driven player in his days in Flying Eagles and Super Eagles remarked: “It will be disastrous if the Eagles fail to win the game. At least they should be able to do that in honouring late Keshi and

Amodu whose memorial date falls on match day.”

Turkey- based former Nigerian skipper, Uche Okechukwu responded to Sports Village Square enquiries by saying: “Keshi and Amodu should forever be remembered by all Nigerian footballers.

“I will be happy seeing the Super Eagles dedicating more goals to the two legends in their match that coincide with the memorial of the

two great Nigerian football figures.”

Mutiu Adepoju in Ibadan remarked that he would be happy seeing Eagles scoring more goals like ever before for the sake of late Keshi and Amodu.

Others like Peter Rufai, Alloy Agu and Ben Iroha all spoke in similar vein, urging the Super Eagles to go all out to win convincingly against South Africa as a way of marking the memorials of the two great icons.

R O L A N D GA R R O S

Konta Suffers Shock Defeat, Murray through to Next Round British number one Johanna Konta suffered a shock defeat by world number 109 Hsieh Su-wei in the first round of the French Open.

Konta’s exit means there are no British women left in the singles draw at Roland Garros, although Andy Murray and Kyle Edmund joined Aljaz Bedene in the men’s second round after winning their opening matches

yesterday.

Seventh seed Konta dominated the first set but eventually went down 1-6 7-6 (7-2) 6-4 to Taiwanese Hsieh.

Konta, 26, has yet to win a match in the main draw at Roland Garros after three successive first-round losses.

She will now head back to the UK and hope for more success in the grass-court season.

Konta, who is ranked eighth in the world, has also lost twice in qualifying in her five visits to Roland Garros.

Her day was summed up by the final game, in which she missed four chances to break back and stay in the match, one through some Hsieh brilliance and another thanks to the cruellest of net cords.

“I think I definitely created some opportunities; I think I didn’t do well enough in necessarily converting them,” said Konta.

“But then there were times where I felt that she did play incredibly well.”

The Taiwanese player clinched a remarkable win when Konta’s return found the net after two hours and 15 minutes.

Wednesday May 31, 2017

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MISSILE

Oyegun to Critics “I have done a lot of things with the president in the past. I have known him from the civil service days; I have known him from the military head of state days. I was one of his close aides. So let them enjoy themselves and pose for photograph. That isn’t the issue. The issue is that we communicate and the relationship is cordial.

National Chairman, All Progressive Congress (APC), Chief John Oyegun dismissing insinuations of a frosty relationship with President Muhammadu Buhari

RUMUNDAKAWONODI The Case for Electricity Clusters GUEST COLUMNIST

M

y primary poser here is that our electricity Distribution Companies’ (DisCos) footprints or franchise areas are rather large, with diverse populations and even more varied economic realities. Under the current customer classification, electricity consumers within a customer class are expected to the pay the same rate for electric service regardless of their financial abilities or willingness to pay more for better service.

If you consider, for instance, a DisCo catchment area as diverse as that of Abuja DisCo, you will agree that consumers in Abuja FCT in general, have different economic power from those in Kogi or Nassarawa State; and even within Abuja FCT, consumers in Maitama, Asokoro, Wuse or Garki have different means from those in Nyanya or DeiDei. You have the same situation in Lagos where consumers in Ikoyi or Victoria Island differ significantly from those in Okokomaiko or Iyana Ipaja.

On the back of this, I am proposing that DisCos organise their footprints into “clusters” better described as “Electricity Tariff Jurisdictions” or ETJs whereby beyond the requirements of the universal service, they can offer different supply solutions, different services at different tariff levels.

This has become relevant with the recent declaration of eligible customers regime by the government.

The kernel of the ETJ proposal is that universal services remain, and all customers regardless of their financial abilities or location, will not be denied services already provided by the DisCos. However, the creation of tariff Jurisdictions is necessary to first, ensure the provision of better services and second, and more importantly, to systematically drive Discos to procure new power efficiently.

It is important to state that DisCos should not be allowed to sell power contracted from the Nigerian Bulk Electricity Trading company (NBET) at higher prices and should also not discriminate unless people are not paying their bills. At any rate, a tariff jurisdiction can be created for an industrial; commercial; highbrow residential or lower income neighborhoods depending on their needs.

Indeed, there are neighborhoods where the majority of the consumers, due to economic considerations, may prefer power just for lighting and ironing and therefore will be open to regimented supply. These are mainly lower income families who tend to live on the fringes of major cities. So, their DisCos could apply for them as an ETJ based on service levels Currently, the on-grid power that DisCos distribute is from NBET at an average tariff that is significantly cheaper than

Minister of Power, Works and Housing, Babatunde Fashola what most embedded or captive power projects offer DisCos and other captive customers. It will be wrong and unfair for DisCos to channel th is grid power from NBET to a few willing and able consumers at a higher price. It will be equally unacceptable to sell grid power at the current tariff to ETJs given that the tariff calculations have already made provisions for losses assuming a fair spread in distribution. What ETJ proposal says is that increase in reliability and service level should rest on new power procurement from independent power producers (IPPs).

One pathway to incremental progress on 24 hour supply can be found within homogeneous income clusters, where consumers are willing and able to pay a premium for 24 hour electricity supply, if the price is more competitive than what they currently pay running their generators for a similar service. DisCos have what it takes to solicit for new power from power plants, and they can leverage their economies of scale to negotiate for cheaper power.

With competitive pricing, a DisCo can then offer consumers within a cluster, improved power supply solutions that represent a clear pathway to 24/7 reliable power over a specified period. If the consumers accept the proposal, the DisCo then goes ahead to file a special tariff with the Regulator - Nigerian Electricity Regulatory Commission (NERC).

The cluster is thus marked as an Electricity Tariff Jurisdiction.

As straight forward as it sounds, tariff jurisdiction is not just about tariffs and service levels but also about transparency and building consumer trust. In the ETJ regimes, consumers should be able to know what their money buys them and be able to track tariffs with associated service levels.

Currently, we have tariffs without defined service levels. People don’t know how many hours of service in a day to expect from their DisCos, nor the time period during which they will be supplied with power.

Contrast that with communities or estates where residents pay for standby power supplied by their estate managers. In most cases, residents know how much they are charged for service fees and how much power to expect – be it 24 hours power service or guaranteed power during specified hours of the day. Most DisCos have yet to rise to this level of transparency and service predictability.

Beyond better customer service, the ETJ proposal is really about catalyzing investments in power generation and distribution. It makes generation projects much more bankable and will give fillip to the embedded generation regulation. Observers of the sector may recall that some DisCos had in the past tried to procure embedded generation, but faced challenges concluding the transactions because of issue of tariffs.

This is in addition to the liquidity challenges and required guarantees. ETJ potentially eliminates these creditworthy issues.

Lenders are more likely to take interest in funding new generation and associated distribution upgrades in well delineated and profitable jurisdictions. ETJ does two critical things: first, because it is a bankable investment, it quickly mobilizes capital without the usual recourse to FGN guarantees; and second, it compels and guarantees higher consumer satisfaction by providing trackable service levels.

Concerns will be rightly raised about the risk that ETJs will heighten inequities in power access between the haves and the have-nots. This is where the Regulator should play a critical role to address that. I expect that during the approval process for an ETJ tariff, NERC could, or should, rule that while the tariff on the average is acceptable to the proposed ETJ consumers, if a sizeable number of vulnerable consumers exist in the jurisdiction, there should be mechanisms to make the majority to subsidize power for the few. Alternatively, the DisCo may continue to “use” grid power to supply those low-income consumers. In principle, I expect that where there is a case for cross-subsidization, the load to be subsidized should not be more than five percent of the ETJ demand.

Under ETJ, “clusterisation” has to be physical, that is, within a geographically defined area. If a number of large users of any categories in different locations want to be grouped under a special tariff from the DisCo, a special tariff provision already exists under MYTO (Multi-year Tariff Order) for supply from a specific source.

The debate and agitation by state governments for electricity self-determination with respect to power generation and distribution reflects the frustration everyone feels with the failures in the power sector.

While sympathizing with the states, I will quickly add that on the average, the FGN is a more efficient operator than the states save for a few. So the idea of states setting up respective electricity regulatory commissions makes little economic sense as it will lead to more costs to the consumers and confusion for the investors.

I do however believe that with tariff jurisdictions, we can assuage some concerns of the states. For example, if a state, some key cities or industrial clusters within a state are declared ETJs, the state could invest in generation and have its generation output sold to the DisCo at a discount that must be passed on to the customer, thus subsidizing the tariff within the state’s ETJ. Similarly, a state could position itself to attract investments as an energy competitive state, or invest in distribution assets with the understanding that the investment is captured in the friendly tariff within the jurisdiction.

The foregoing considered, one could say that time is now the only thing standing between states and and energy self-reliance.

Depending on how you calibrate time, you may find areas where ETJs can be very quickly implemented. Again, this answers the question of whether the idea of ETJ is amenable to only affluent consumers.

The government recently declared the Eligible Customers (ECs) criteria, which allows large consumers of power especially industrial and large commercial users to buy power directly from GenCos. Put another way, the declaration allows GenCos to sell directly to end users without going through the DisCos, essentially decentralizing power purchase from generators. The ETJ on the other hand is geared towards centralizing power purchase by aggregating customers in residential or industrial clusters or local government areas or states into jurisdictions.

The declaration of eligible customers makes it imperative for DisCos to use the ETJ proposal to provide better services to their customers, otherwise, consumers who qualify as ECs may opt for a different service provider. I will conclude by saying that ETJ and eligible customers deepen the market and should lead to a competitive tension that will benefit the consumers.

Yes, of course. We must talk about metering, but that is a discussion for another day. r 8POPEJ JT UIF QJPOFFS .BOBHJOH %JSFDUPS PG UIF /JHFSJBO #VML &MFDUSJDJUZ 5SBEJOH /#&5

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