Wednesday 21st June 2017

I&E FX Window May Stop Nigeria’s Demotion from MSCI Index Obinna Chima with agency report The newly introduced Investors’ and Exporters’ (I&E) foreign exchange window targeted at foreign portfolio investors could earn Nigeria reprieve from being demoted from the MSCI’s frontier markets index.

Nigeria’s currency peg between 2015 and 2016 led to the country’s delisting from two major indexes for emerging and frontier markets during the period.

U.S. investment bank, JP Morgan & Chase, in

September 2015, first removed Nigeria from its Government Bond Index for Emerging Markets (GBI-EM), while Barclays announced its removal of Nigeria’s sovereign debt from its emerging markets

local currency government bond benchmark, effective February 1, 2016.

According to a report by Reuters yesterday, China, Argentina, Nigeria decisions loom for MSCI’s index review.

MSCI was slated to announce the results of its review last night. It was to hold conference calls with journalists at 2300 GMT and again at 0700 GMT today.

Nigeria is under review for possible demotion from

the MSCI’s frontier markets index to “standalone” status.

This, according to the index provider, stems from “continuous deterioration of the market accessibility” after the introduction of restrictions on foreign currency trading in 2015.

Dangote: Nigeria Loses N140bn to Apapa Gridlock Weekly… Page 47

Continued on page 9

Wednesday 21 June, 2017 Vol 22. No 8098. Price: N250

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NCC Steps in, Says Etisalat’s Licence Not Transferable Telco announces new shareholding as Abu Dhabi parent pulls out

Emma Okonji Citing the Nigerian Communications Act (NCA), the Nigerian Communications Commission (NCC) yesterday stepped into the crisis that has enveloped the country’s fourth largest network

operator, Etisalat, reminding the consortium of banks that the telecoms firm is indebted to, to the tune of $1.2 million that it cannot takeover Etisalat’s operating licence without its approval.

Continued on page 9

Again, Osinbajo Warns FG Won’t Condone Threat to Citizens’ Lives Arewa youths will be arrested, el-Rufai vows Omololu Ogunmade in Abuja and John Shiklam in Kaduna With no end in sight to the hate and divisive statements passing back and forth between some youths in Northern Nigerian and their counterparts in the Southeast, acting President Yemi

Osinbajo yesterday for the umpteenth time warned that the federal government would deploy the necessary security apparatus to punish anyone who threatens the peace of Nigeria’s territorial integrity and the life of any Nigerian.

Continued on page 9

Ambode Demands Return of ‘OUR DIVERSITY MAKES US STRONGER’ L-R: Sultan of Sokoto, Alhaji Sa’ad Abubakar III; acting President Yemi Osinbajo; and the National Security Adviser (NSA), Major Federal Assets in Lagos… Page 48 General Babagana Monguno (rtd.), during the meeting between Osinbajo and traditional rulers from the North on dousing tensions in the country and keeping Nigeria united, held at the Presidential Villa, Abuja… yesterday

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PAGE NINE NCC STEPS IN, SAYS ETISALAT’S LICENCE NOT TRANSFERABLE A consortium of 13 Nigerian lenders led by Access Bank Plc moved to make good an earlier threat to takeover Etisalat by Friday, following its inability to meet the payment terms on a $1.2 billion loan that it took in 2013 for network upgrade and expansion.

The banks, comprising Access Bank, Zenith Bank Plc, Guaranty Trust Bank Plc, FirstBank Limited, Fidelity Bank Plc, First City Monument Bank (FCMB), Stanbic IBTC, EcoBank, United Bank for Africa (UBA) Plc and Union Bank of Nigeria Plc, among others, said they would takeover Etisalat’s operations through its legal representative, United Capital Trustees.

E m i r a t e s Telecommunications Group

Company (Etisalat Group), Abu Dhabi, which holds a 45 per cent stake in the Nigerian subsidiary also announced yesterday at the Abu Dhabi Stock Exchange that attempts to stave off the company’s takeover had proved abortive and that the lender banks were closing in.

Serkan Okandan, Chief Financial Officer of Etisalat Group, who made the announcement on behalf of the UAE group and operators of Etisalat Nigeria, said both parties had reached a deal to commence the transfer of ownership to the banks by 5 p.m. on Friday, a development that immediately caused ripples in the telecoms sector.

However, the NCC in a statement yesterday evening by its spokesman,

Mr. Tony Ojobo, drew the attention of the lenders to the provisions of the NCA, which provides that the issuance of a licence shall be personal to the licensee and is not transferable to a third party without the written approval of the commission.

Section 38(1) of the Act states: “The grant of a licence shall be personal to the licensee and the licence shall not be operated by, assigned, sub-licensed or transferred to another party unless the prior written approval of the commission has been granted.”

Sub-section 2 states: “A licensee shall at all times comply by the terms and condition of the licence and the provision of this Act and its subsidiary legislation.”

The telecoms industry

regulator, in the statement, also assured the 21 million subscribers of Etisalat of the integrity of its network, adding that it would do all within its powers to ensure that they continue to enjoy the services provided by the operator.

Ojobo said: “The attention of the commission has been drawn to the planned takeover of Etisalat by a consortium of banks.

“As a result of this planned action, the commission wishes to state that it is aware of the indebtedness of Etisalat to the consortium of banks.

“In conjunction with the Central Bank of Nigeria (CBN), we mediated by holding several meetings with the banks, Etisalat and other stakeholders with a view to finding a resolution.

Regrettably these meetings did not yield the desired results.

“The NCC wishes to reassure the over 21 million Etisalat subscribers that it will do all within its regulatory power to ensure that Etisalat subscribers continue to enjoy the services provided by the operator.

“The commission has taken proactive steps to cushion the impact of the takeover, this is without prejudice to the ongoing effort between Etisalat and the banks towards a negotiated settlement.

“In view of the recent development, NCC wishes to reassure all stakeholders in the telecommunications sector, and in particular the subscribers on the Etisalat network that the commission

will ensure that the integrity of Etisalat Network is not compromised.

“Accordingly, the commission has drawn the attention of the banks to provisions of the Nigerian Communications Act (NCA) 2003 Section 38: Sub section 1 – The grant of a licence shall be personal to the licensee and the licence shall not be operated by, assigned, sub licensed or transferred to another party unless the prior written approval of the commission has been granted; “Sub section 2 – A licensee shall at all times comply by the terms and condition of the licence and the provision of this act and its subsidiary legislation.”

Owing to the positive momentum on the Nigerian bourse, MSCI this month increased Nigeria’s weight on its frontier index to 7.9 percent from 6.5 per cent, meaning that funds tracking it would buy shares to replicate the new weight, analysts said.

MSCI was likely to open its emerging market benchmark to Chinese mainland-listed shares at its review yesterday, but investors were also expecting news on other markets such as Argentina

and Saudi Arabia.

MSCI had rejected China’s mainland-listed stocks – so-called A-shares – from inclusion on its main emerging markets index on three occasions, but they are expected to get the nod this time.

The index provider is also looking to include 169 A-shares in its $1.5 trillion emerging markets index and by default its $37 trillion All-Country World Index.

It trimmed the number of

stocks from an original list of 448. The 169 stocks make up 5 per cent of all listed mainland China companies.

If successful, the stocks would officially join in a year’s time with a combined weighting of 0.5 per cent.

MSCI already includes some Chinese shares, but only those listed in Hong Kong or the U.S. They account for roughly 28 per cent of the EM index. The new A-shares would be on top of that.

cause disaffection among the people.

“Kaduna used to be home to all, but so much crises has divided the state and the metropolis across religious lines.”

He said his administration decided to abolish indigeneship to give every residents of the state a sense of belonging, declaring that “once you live in Kaduna you are an indigene”.

According to the governor, many people had been arrested for hate speeches in the past and were being tried in the courts.

“We are going to arrest the Arewa youths and bring them to justice no matter how long it takes, since the press conference was done in Kaduna.

“If they had done it in any other place we would have just condemned them, but since it is in Kaduna we are going to arrest them no matter how long it takes,” the governor said.

He restated that his state had witnessed so many crises in the past and for this reason would not take chances with anything threatening the peace.

“I have the mandate of the Northern Governors’ Forum under the chairmanship of Borno State governor, Kashim Shettima, to reassure the Igbos in the 19 Northern states and Abuja that their lives and property are safe in the North,” el-Rufai said.

Speaking earlier, the President General of the Igbo Delegate Assembly, Chief Chikezie Nwogu, commended the federal government and el-Rufai

for their swift reactions to the quit notice issued by the Northern youths.

Nwogu, who led the Igbo traditional rulers from the 19 Northern states on the visit, said Igbos were ready to remain in the North.

“We are here in Kaduna to hold a meeting based on what has been happening in the North, especially with the Arewa youths and the ultimatum given to Igbos and the agitation by IPOB. “We are not here to condemn anybody. We thank the governor of Kaduna State, Mallam Nasir el-Rufai and other Northern governors, traditional rulers and the federal government for their interventions at the height of the issue,” he said.

He also appealed to the government to tackle the root cause of the agitations and subsequent quit notice

by Northern youths and find solutions to the rising frustrations in the country.

Continued on page 10

I&E FX WINDOW MAY STOP NIGERIA’S DEMOTION FROM MSCI INDEX Eleven Lagos-listed stocks on the Nigerian Stock Exchange (NSE) are currently on the MSCI Frontier Markets 100 index with a weighting of around seven per cent. That is the fourth largest after Kuwait, Argentina and Vietnam.

However, Nigeria might just escape a demotion from the MSCI frontier markets index due to the introduction of the I&E forex window by the Central Bank of Nigeria (CBN) last April, leading to a resurgence of investor

confidence in the equities market.

“Investors are hoping the recent introduction of a new foreign exchange mechanism, aimed at international portfolio investors, will earn the country a reprieve. Nigeria’s index hit two-year highs last week,” the report added.

The CBN disclosed last week that cumulative transactions on the new I&E window had risen to $2.2 billion, from about $1 billion last month.

Also, CBN interventions in the I&E window have dwindled to below 30 per cent, enabling participants to freely trade currencies at a market determined rate.

Equities listed on the NSE rose to a new two-year high on Monday. The rally was lifted by gains in cement and banking shares.

The NSE-All share index climbed 0.96 per cent to cross 34,000 points on Monday, a level it last reached in May 2015.

AGAIN, OSINBAJO WARNS FG WON’T CONDONE THREAT TO CITIZENS’ LIVES Osinbajo issued the warning while continuing with his consultative meetings with Northern monarchs at the Presidential Villa, Abuja, stressing that the federal government was committed to the task of promoting the unity of the county, because it is the bedrock of any prosperous nation.

The meeting had earlier been scheduled to take place on Monday but was shifted to yesterday without any official reason.

Osinbajo, who however later hosted the monarchs at a dinner to break their Ramadan fast on Monday night, used the occasion to report his findings since last week when meetings with Northern and South-eastern leaders began over agitations for secession in the Southeast as well as the ultimatum issued by Northern youths to Igbos living in the North to vacate their region by October 1.

Osinbajo, who told the Northern monarchs that as royal fathers, their place in history was significant because they are the embodiments of culture and tradition that also establish links with the past and prepare the grounds for the future, added that the meeting was orchestrated by divisive statements which he said followed agitations for secession and the consequent ultimatum.

He reiterated that different leadership groups he had met since the commencement of the meetings had come to the consensus that Nigeria’s unity was sacrosanct and

hence must be upheld perpetually.

He described both the agitation for secession by the Independent People of Biafra (IPOB) and consequent ultimatum by a coalition of Northern youths as unjustifiable, unacceptable and in most cases, illegal.

He viewed such developments as unnecessary, pointing out that the price for the unity of Nigeria had been paid with the blood of many Nigerians, including soldiers.

He also recalled a remark

by President Muhammadu Buhari in reference to his hey days in the military when he narrated how love and unity was their strength.

He tasked the traditional rulers to play a fatherly role in their respective domains by opposing divisive remarks and providing guidance to the youths by cautioning them against playing the ethnic card.

He said even though certain situations might engender frustrations, such frustrations must be managed in a way that it does not snowball into hate and divisive tendencies.

“As royal fathers and leaders, I think you will agree with me that we all have a role to play in countering the voices of divisiveness, and the elements who seek to take us down a bloody path.

“Let us continue to counsel the misguided elements among our youths, who think that ethnic confrontation is a game and that words can be thrown around carelessly without repercussion.

“Having said this, let me say that we are not deaf to the legitimate concerns and frustrations arising from around the country. Every part of Nigeria has its own grievances.

“But these have to be expressed graciously and managed with mutuality, rather than with scorn and disdain.

“I would like to assure you all that we are here to listen and to answer, and very importantly, to reassure everyone that we are committed to the unity of Nigeria, and that upon the foundation of that unity we can together build a prosperous and great country.

“We must never take our diversity for granted; the fullness of our strength actually lies in that diversity.

And we must wield that diversity, not as divisive tool, but as a binding agent.

“As we round up these consultations tomorrow with a meeting with the governors, it is clear to me that we are all resolved to, by words, conduct and action, promote the unity of our dear nation.

“On our part as government, let me say that we will ensure that the entire apparatus of government is deployed to ensure that no one threatens Nigeria’s territorial integrity, that no one threatens the lives or livelihoods of any Nigerian living anywhere in the federation.

“Our objective is to provide the environment for a prosperous nation, a nation where all regardless

of ethnicity or religion can pursue their legitimate aspirations peacefully and securely,” he stated.

Osinbajo will hold the final meeting with governors of the 36 states of the federation today.

Coming on the heels of Osinbajo’s meeting with traditional rulers from the North was the promise made yesterday by Kaduna State governor, Mallam Nasir elRufai that the Arewa youths who issued the quit notice to Igbos would be arrested and prosecuted as a deterrent to others, no matter how long it takes.

The governor, two weeks ago, had ordered the arrest of the leaders of a coalition of northern youth groups who issued the ultimatum, but no arrest has been made to date, leading to accusations that some sections of the country are treated differently from others.

Speaking when the Igbo Delegate Assembly and Northern chiefs of South-east extraction paid him a courtesy call at the Government House, Kaduna, el-Rufai insisted that the Arewa youths behind the ultimatum will not only be arrested but will be prosecuted.

He, however, urged the Igbo leaders to prevail on their youths against making statements and agitations capable of dividing Nigeria.

He said: “The Kaduna State government is grateful to the Igbos for coming to Kaduna. Kaduna has suffered so many crises, so we are very sensitive to comments that incite and

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WEDNESDAY, Í°ÍŻËœ ͺ͸͚; Ëž T H I S D AY

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PAGE TEN

I’m the Rightful Oba of Lagos, Akiolu Insists Akinwale Akintunde The Oba of Lagos, Alhaji Rilwan Akiolu yesterday continued with the defence of his ascendance to the throne, insisting before an Ikeja High Court that he is the rightfully appointed monarch of Lagos.

Akiolu had on May 22, one day to the 14th-year anniversary of his coronation, cited historical sources to prove to the court why he is the bona fide Oba of Lagos.

Princes Adedoyin Adebiyi and Rasheed Modile, who are both of the Akinsemoyin Ruling House of Lagos, had dragged Akiolu to court to challenge his installation as the Oba. Adebiyi and Modile were candidates chosen by their ruling house to contest the Obaship title in 2003 after the demise of Oba Adeyinka Oyekan, Akiolu’s predecessor on the throne.

However, they lost out to Akiolu who they alleged had no rightful claim to the throne.

Adebiyi and Modile are claiming that Akiolu was not entitled to the throne because he is not a member of a ruling royal family by virtue of not being a direct descendant of Oba Ado, the first Oba of Lagos.

The Lagos State governor, State Attorney-General, Prince Babatunde Akitoye, and Chief Junaid Eko, head of the traditional white cap chiefs of Lagos were joined as respondents in the suit.

Other respondents include Prince Kola Balogun and Mr. Musibau Kelani, who

are Head and Secretary of the Eshilokun royal family, respectively.

But at the resumed hearing of the suit yesterday before Justice Adebowale CandideJohnson, Akiolu insisted that age-long traditional customs and traditions were followed in his selection as the Oba. Akiolu, while being crossexamined by counsel to the claimants, Mr. Babatunde Fashanu (SAN), told the court that there was no rule as to whether he should have been selected 90-days before or after the demise of his predecessor, as claimed by the claimants. “After I made my intention known to my family that I wanted to be Oba of Lagos, I applied for the throne. “In May 2003, the head of the kingmakers and the then sole administrator of Lagos Island called at my residence. “At that time I was preparing to go to the mosque and I was told that I had received a letter from the state government and the executive council of Lagos. “The letter was accepting my nomination that I have been approved to be a worthy successor of the then late Oba of Lagos. “By the grace of Almighty Allah, there is nothing like rotation in the succession to be the Oba of Lagos,�

Akiolu said.

When asked by Fashanu to state, in order of seniority, the children of Oba Ologun Kutere, who Akiolu said was his forebear, the Oba said: “I don’t know, I don’t work at

Akiolu the births and deaths registry. “What is important is that Akiolu is the child of Ologun Kutere. “There have been three members of the Akiolu family who ran for the position of Oba of Lagos, including an Akiolu family member known as Baba Ita-Ado, I can’t remember when he ran and I cannot tell lies. “All Lagos princes who have no curse placed on them are entitled to run for the kingship, it is however the prerogative of the kingmakers to choose who will be king.

Many are called, few are chosen.�

Responding to the question as to whether proper customary procedure was

followed when he became king, Akiolu said he was customarily installed as Oba by the kingmakers. “Akiolu is a direct descendant of Oba Ologun Kutere, there is no registered declaration for the throne. “It is the old customs and the recommendations of the Price Commission, which is over 100 years ago that are valid till now,� he said.

Akiolu also debunked claims that the Akiolu royal family was not a ruling house because it was non-existent. “Despite the letter from Lagos State confirming my appointment as Oba, stating that I am from the Akiolu royal family, I want to make it clear that a royal family

and ruling house mean the same thing. “My appointment as the king is the first time in history that kingmakers will be unanimous in selecting an Oba of Lagos,� he said.

Akiolu noted that his being capped as Oba during his coronation ceremony by a representative of the Eleboro family was not illegal, despite the fact that the ceremony was not overseen by Chief Eleboro who personally caps Obas of Lagos. “Contrary to claims that in the history of Lagos, no Oba has been capped by any person other than Chief Eleboro, Oba Adeniji Adele was capped by Chief Gafir. “The Eleboro family

capped me,� he said.

Akiolu also denied holding grudges against individuals who he allegedly dislikes by preventing them from succeeding him as the monarch in future. “The claimants had wanted to meet me somewhere to sign a document regarding the succession, but I refused. “It is not an individual chair, it belongs to the past, present and future. “All human beings should not hate each other, we are equal in the eyes of God but not equal in our love for God,� Akiolu said.

Justice Candide-Johnson adjourned the case to July 5, 2017 for continuation of the case.

Killer Heat Waves Imminent in 2017, UN Warns The world should prepare for further heat waves this year, the UN weather agency officials said yesterday in Geneva.

Parts of Europe, the Middle East, North Africa and the U.S. have already seen record temperatures for May and June.

The Pakistani city, Turbat

recorded 54 degrees in late May, the hottest temperature ever seen in Asia, according to the World Meteorological Agency (WMO).

The world record of 56.7 degrees was set in Death Valley in the U.S. in 1913. “The concern is now that we are close to that record,�

WMO meteorologist Omar Baddour told a press conference. “According to the data we have, we expect to have other heat waves in many parts of the world,� he said.

According to the WMO, many heat-related deaths could be prevented if authorities issue public

warnings; make sure that vulnerable populations are sheltered; and prepare hospitals for an increase in patients.

In 2003, a heat wave in Europe caused 70,000 deaths, while a short spell of extreme heat in India and Pakistan in 2015 killed 4,000 people.

India has started issuing health advisories and has drawn up effective action plans in recent years, WMO spokeswoman Clare Nullis said.

According to official U.S. and European data, between January and May, average global temperatures were the second highest on

record, with the record only having been set in 2016, reported the News Agency of Nigeria (NAN).

The 2016 heat spike was fuelled by the El Nino, a weather phenomenon caused by unusually warm water in the Pacific Ocean.

This year, weather experts do not expect an El Nino.

which Etisalat Group holds its interest in the company) requiring EMTS BV to transfer 100 per cent of its shares in the company to the United Capital Trustees Limited, the Security Trustee of the EMTS Lenders by 15 June 2017. “Subsequently, the EMTS Lenders extended the deadline for the share transfer to 5 p.m. Lagos time on 23 June 2017,� the filing

by Etisalat Group on the Abu Dhabi bourse said.

Also confirming the looming takeover of the company’s operations, the Vice President, Regulatory and Corporate Affairs, Etisalat Nigeria, Mr. Ibrahim Dikko, in a statement yesterday, said: “Emerging Markets Telecommunication Services Limited also known as Etisalat Nigeria has announced the

commencement of its restructuring with changes to its shareholding. “As it had earlier stated in a release, the negotiations with the consortium of lenders are considering a number of possible options. “Etisalat Nigeria can now confirm the first stage of this has begun with a change in shareholding which was announced on the Abu Dhabi Stock Exchange on Tuesday (yesterday). “Etisalat Nigeria can confirm discussions are on-going regarding other issues such as the trading name during this transition phase. “Operations and services to our subscribers remain normal and will in no way be affected as we continue to deliver quality services to our subscribers. “We will continue to tap

into the rich, creative and innovative resources within our workforce to build a stronger business upon the stable foundation we have laid in our nine years of operations. “Etisalat Nigeria wishes to express its profound gratitude to the government, the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) for their patriotic zeal and tireless efforts at ensuring collaborative and productive engagement. “We are also appreciative of the tremendous support we have received from the media since inception and we count on their continued support as we transition to a stronger business. “We will update our stakeholders and the public on further developments shortly,� Dikko said.

NCC STEPS IN, SAYS ETISALAT’S LICENCE NOT TRANSFERABLE Ojobo reiterated the commitment of the NCC to ensure that Etisalat’s subscribers continue to enjoy the services provided by the operator, while the banks and the company work at resolving the issues.

The action of the banks came on the heels of the collapsed negotiations between them and the three core investors in Etisalat Nigeria – Mubadala Development Company, UAE; Emirates Telecommunications Group Company (Etisalat Group), Abu Dhabi; and Emerging Markets Telecommunications Services (EMTS), the local arm of Etisalat Nigeria.

Mubadala owns 40 per cent of the equity in Etisalat Nigeria, Emirates Telecoms Group holds 45 per cent, while EMTS holds 15 per cent.

Of the three major investors, only Etisalat Group, Abu Dhabi, has announced its intention to pull out of Etisalat Nigeria and has approved a complete transfer of 100 per cent of its shares in the Nigerian firm to the United Capital Trustees.

Although it was not clear yesterday whether the two other investors would also announce their pullout, industry sources said they might be searching for willing investors that are ready take up their shares to raise funds to pay off the banks.

In its announcement on the Abu Dhabi Stock exchange yesterday, Etisalat Group said efforts by EMTS to restructure the repayment of the syndicated loan by a consortium of banks to Etisalat Nigeria had collapsed. “Further to our announcement dated 12

February 2017, Emirates Telecommunications Group Company PJSC, ‘Etisalat Group’ would like to inform you that Emerging Market Telecommunications Services Limited ‘EMTS’, the company established in Nigeria and an associate of Etisalat Group with effective ownership of 45 per cent and 25 per cent ordinary and preference shares respectively, defaulted on a facility agreement with a syndicate of Nigerian banks, which are the EMTS Lenders. “Subsequently, discussions between EMTS and the EMTS Lenders did not produce an agreement on a debt restructuring plan. “Accordingly, the company received a default and security Enforcement Notice on 9 June 2017 requesting EMTS Holding BV (EMTS BV) established in the Netherlands, and through

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T H I S D AY WEDNESDAY JUNE 21, 2017

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T H I S D AY WEDNESDAY JUNE 21, 2017

COMMENT

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

THE FEAR OF OCTOBER 1

Sonnie Ekwowusi argues that the country needs restructuring for equity and justice

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hen I was growing up we looked up to October 1 with gusto. We were taught in school to love our country and to be ready to shed our blood for our country. Our secondary school principal was a patriot to the core. He instilled in us an uncommon patriotic zeal and spirit which made us to fall in love with Nigeria. With our hands on our chests at the morning assemblies, we recited the National Anthem and the Pledge with passionate equanimity. Decked out in our well-ironed sparkling school uniform we participated in school marches at the stadium to mark Nigeria’s independence anniversary.

When I was growing up we stood under the sun cheerfully waving the green-white-green national flag to welcome the country’s leaders or foreign leaders visiting Nigeria. When I was growing up, Nigerians, both old and young, were overjoyed at the dawn of independence anniversary. When I was growing up beautiful chants in praise of Zik, Awo and other heroes of the Nigerian independence resounded in the horizons at the dawn of independence.

But all that are now things of the past. Today, the sense of nationhood and the pride in one Nigria are ebbing away. How many Nigerian school children (not to talk of Nigerian adults) can tell the colour of the national flag let alone recite the national anthem or the pledge? To begin with, there are many flags these days: there is the Biafran flag, Niger Delta militants’ flag, Oduduwa youths’ flag, and the Arewa youths flag.

Instead of remembering the heroes of Nigeria’s independence like Zik, Awo, Herbert Macaulay, Mbonu Ojike, H.O Davies, Anthony Enahoro and others at independence anniversary, people now prefer to remember and worship their respective secessionist leaders. For example, in the last few years, October 1 has been preceded by different threats from different terrorist and secessionist groups to dissolve or destroy Nigeria. These days whenever October 1 is approaching the various secessionist groups in the country will start plotting how to destroy or deconstruct Nigeria.

Now that October 1, 2017 is approaching, the Northern youths and Northern elders have vowed to dissolve Nigeria and drive away the Igbos in the North. The coalition of Niger Delta militants have also vowed to expel all Northerners in Niger Delta come October 1. Another Niger Delta group called the Rondel Solidarity Movement (RSM) had already declared a new country called Rondel Republic which would become operational in 2018. So, Nigerians live in fear: fear of their neigbours and fear of the ‘new countries’ suddenly sprnging up around them. My good friend from Imo State believes that oso Abiola (the mayhem of 1993 which made many Nigerians to flee the big cities for their safety) is about to be reignited.

Even my vehicle mechanic is frightened to the marrow. The other day he looked at me and said: “Oga, before October I

THE FEDERAL GOVERNMENT HAS REASSURED ALL IT IS “ON TOP OF THE SITUATION”. BUT HOW? TILL DATE NONE OF THOSE ISSUING EVICTION THREATS AND SECESSIONIST STATEMENTS HAVE BEEN ARRESTED LET ALONE BROUGHT TO JUSTICE

go don comot Lagos go village. God forbid. I no go stay this Lagos”. Pan-Igbo socio-political body, Eastern Mandate, has advised all Igbos residing in the North to learn a lesson from the pogrom and start returning to Igbo land now.

But the federal government has been telling all Nigerians that all these doomsayers are mere noise makers. Information Minister Lai Mohammed has told Igbos and all Nigerians to disregard all eviction threats because the federal government is “on top of the situation”. Besides, Acting President Yemi Osinbajo has said the government will deal with any persons or group will cause disturbance of the peace. Consequently, no cause for any panic. The government is “on top of the situation”. So, go about your normal business and, please, stop listening to doomsayers.

Certainly the government’s commitment to the safety of Nigerians is commendable. The federal government has reassured all it is “on top of the situation”. But how? Till date none of those issuing eviction threats and secessionist statements have been arrested let alone brought to justice.

Enraged by this, the coalition of Niger Delta militants has issued a fresh ‘quit notice’ to Northerners in Niger Delta to vacate the area on or before October 1. More importantly, none of the quit notice givers and secessionists have withdrawn or retracted their quit notices. This means that they are bent on carrying out their eviction threats. Therefore, it is not enough for the federal government to simply say that it is “on top of the situation”. The government must roll out concrete security plans to secure the lives and property of the citizenry.

Afenifere chieftain Femi Okurounmu recently warned that the Northern youths issuing the ‘quit notice’ should not be underrated, and that anybody who underrates them does so at his or her risk. Besides, the history of killings in the North shows that the killers could come after their victims at any moment even in presence of the state security personnel.

For example, during the last Kaduna killings the assailants actually attacked and hacked their victims to death even in presence of security personnel who were supposed to be offering them protection. Therefore beyond verbal promises, the federal government should really and truly devise ways of protecting the lives and property of the citizenry on or before October 1 and always. In this dissolving and secessionist age, the ultimate solution is true healing from aching old wounds. True healing is giving the different Nigerian communities their commutative justice. This can be achieved by restructuring Nigeria or whatever accords with true equity and fair-play. Nations composed of different peoples and torn apart by tribal, ethnic and religious cleavages have always struggled to live under certain equitable arrangements in order not to end up as failed states. Nigeria should do likewise.

IDRIS IS THE MESSAGE

Ibrahim Idris, the Inspector General of Police, is turning the fortune of the Police Force around, contends Augustine David

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he arrest of a notorious kidnap mastermind, Chukwudi Onuamadike, aka Evans by IGP’s Intelligence Response Team led by ACP Abba Kyari marks a turning point for the Nigeria Police Force which has not had a good public image for decades.

Evans, who was said to have coordinated several kidnappings in Lagos and Ogun States, was nabbed in the Magodo area of Lagos State penultimate Saturday. Until his arrest, he was regarded as the most notorious high-profile kidnapper in the history of Nigeria. He was said to have collected several billions of naira as ransom in the last seven years.

The last time policemen were seen as heroes was when men of the force arrested Lawrence Anini, a bandit who terrorised Benin in the 1980s along with his side-kick, Monday Osunbor. Acting on a tip-off, a crack 10-man team led by Superintendent of Police Kayode Uanreroro, on December 3, 1986 brought Anini’s reign of terror to an end.

For decades, the conduct of police personnel has caused serious image and operational problems for the Force. The duties of its officers and rank and file had been compromised because they had tailored them chiefly to cater to the highest bidders, who could in fact be criminals that should be prosecuted, not provided cover.

It is commonplace to hear allegations of corruption, incompetence, unprofessional conduct and other questionable practices that have nothing to do with normal police duty or the maintenance of law and order being levelled against police officers. But that is fast giving way to a more professional and highly motivated police force that is well equipped to cope with the challenges of contemporary policing.

Although the arrest of Evans is the single most important turn around for the current leadership of the Nigeria Police, several other successes recorded in the last one year under the leadership of the Inspector General of Police, Ibrahim Kpotun Idris, point of the fact that a new force is indeed in the making. But more significant is the fact that the IGP is not your typical Nigerian public servant who does everything to attract media attention to himself.

Idris has every reason to attract attention to himself. Firstly, he was selected from among the eligible senior police officers because he was the only one who passed the integrity test secretly conducted by the presidency. Secondly, since his appointment exactly a year ago, he has completely repositioned the force to arguably the most efficient police force in our recent history.

Testimonies to that effect abound. In February this year, the IGP Special Squad freed, Professor Peter Breunig, a German Archaeologist kidnapped by bandits in Southern Kaduna and his associate, Johannes Buringer in what was a major success in the fight against kidnapping. The police also secured the release of Major General Alfred Nelson, the Deputy High Commissioner of Sierra Leone to Nigeria who was kidnapped by men of the underworld.

The capture and killing of armed robbery kingpin, Henry Chibueze who terrorised the South East region of the country from his den in Imo State is another major achievement in the last one year of the administration. Praises also came to the police boss when he successfully provided security cover for air travellers to and from Kaduna, during the temporary closure of the Nnamdi Azikiwe International Airport, Abuja. Idris deployed

350 policemen to ensure security of passengers along the Kaduna-Abuja expressway and aerial surveillance by police helicopters which assisted in checking criminal activities in the area during the period.

Unlike his predecessors, Idris has ensured that police checkpoints scattered across the country are taken down. This order has since taken effect and has affected all the states except checkpoints within states where extraordinary measures are still in place in response to attacks blamed on the Boko Haram sects, recurring herdsmen/famers clashes or the menace of kidnapping.

The nation’s most senior cop has argued at several fora, that checkpoints have their uses if they are used to specifically check crime or apprehend criminals. “But when they acquire the negative perception that they have, they become money-spinning points to which superior officers despatch their trusted subordinates to make ‘returns’ in the form of financial gratifications, then they are compromised”. Regular patrols by well motivated police personnel have effectively replaced checkpoints.

Some of the egregious but common practices of the police, like detaining suspects without charge for more than 24 hours had been discontinued while the law on detention of persons is currently being strictly applied. On these scores alone, IGP Idris has every reason to roll out the drums as many a public servant with far less achievements had done. But then, these are not his only achievements.

Another achievement of the police high command that is unprecedented is the leading role it is playing to foster inter-agency cooperation to make Nigeria more safe and secure. In this wise,

the IGP has strengthened the relationship between the police force and other sister security agencies through courtesy visits to the Chief of Army Staff (COAS), Chief of Naval Staff (CNS), Chief of Air Staff (CAS), the Comptroller General of Customs, Commandant General of the Nigerian Security and Civil Defence Corps (NSCDC) and other relevant organisations.

Similarly, the IG has established the Eminent Persons Group across the 36 states of the federation and the FCT with a view to engaging all relevant stakeholders; traditional rulers, Nigerian Bar Association (NBA), Nigerian Labour Congress (NLC), Miyetti Allah Cattle Breeders Association (MACBAN), Market Women Association, National Union of Road Transport (NURTW) and many others to make inputs into how society can become safer and more secure.

The Nigeria Police under Ibrahim Idris is not taking the loyalty of its officers and men for granted. Rather, it has placed high premium on their welfare as a way of encouraging them to do more. Already, housing projects have commenced in many states through Public-Private Partnership arrangements for the construction of affordable mass housing for the officers and men of the force. Unlike in the past when policemen went on strike over their entitlements, officers now get their salaries and allowances as and when due. As a way of ensuring sustainable funding for the force, the police high command is pushing for the passage of a bill for an act to establish Police Trust Fund Bill.

The proposal is one of the provisions of the Nigeria Police Development Fund (NPDF) establishment bill, sponsored by Senator Abu Ibrahim (APC, Katsina).

David wrote from Benin

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T H I S D AY Ëž Í°ÍŻË&#x153; Í°ÍŽÍŻÍľ

EDITORIAL BEYOND THE ARREST OF EVANS Chukwudi Onuamadike, billionaire kidnapper, must be safe and well guarded

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t was a good week for the security agencies. A leading kidnap kingpin, Chukwudi Dumeme Onuamadike, also known as Evans, was arrested in Lagos penutimate Saturday. Regarded as one of the most dangerous criminals in the land, the police had earlier placed a N30 million bounty on his head. But in the excitement of the moment, especially given the media frenzy that is now a daily fare, it is important not only that important lessons are learnt but also that Evans (who seems to know so much about kidnappings in Nigeria) be kept alive to face justice in court.

Evans, 36, a secondary school drop-out, was described as a notorious, high-proďŹ le and one of the most vicious kidnappers in the country. According to the police, he was the head of an organised gang which operated very creatively: a team would carry out the kidnapping of victims who were properly researched and must be rich, while another team held the victims hostage until ransoms were paid. He reportedly had about seven gangs operating across different states in the country.

Rich and living EVANS SHOULD BE among the afďŹ&#x201A;uent SECURELY KEPT AND people in Lagos, THOROUGHLY DEBRIEFED Evans and his gang FOR INTELLIGENCE took time to plan their PURPOSES: LET HIM AND operations and had THE GANG SAY ALL THAT no room for peanuts. â&#x20AC;&#x153;I chose to collect THEY KNOW ransom in dollars to be different, and the maximum I have collected as ransom so far is one million dollars,â&#x20AC;? he said. The kidnapping of a wealthy owner of a pharmaceutical company in February in Lagos attested to his viciousness. The gang allegedly demanded a ransom of N500 million, but the victimâ&#x20AC;&#x2122;s family was able to raise N150 million which the gang collected but reneged on releasing him. The victimâ&#x20AC;&#x2122;s miraculous escape from their hideout eventually proved to be an albatross for Evans and gang.

While we commend the police for the breakthrough

Letters to the Editor

on the case, there is an aching question: how was such a murderous gang of criminals able to operate freely and dangerously for upward of a decade without being caught? In other words, how were they able to escape the lens of the security operatives for such a long time? With this question still unanswered, conducting the investigations on the pages of newspapers, as is presently the case, is very unhelpful.

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

THE JUDICIARY: PROSECUTORS, SALARIES, ET AL

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was at the Federal High Court, Abuja on June 14, 2017 and the judge handling our matter was apparently upset because it was brought to his/ her notice that some people that lost a case before him/her allegedly sponsored the publication of an article accusing him/her of corruption.

So, when I read my lordâ&#x20AC;&#x2122;s mood, I cautioned myself to trade softly in the court. Our case was called and a harmless application was moved by a SAN; the lawyer for the plaintiffs didnâ&#x20AC;&#x2122;t oppose, but sought for costs. I also didnâ&#x20AC;&#x2122;t oppose the application and my lord asked, â&#x20AC;&#x153;Mr. Hussaini, are you also seeking for costs?â&#x20AC;? I said â&#x20AC;&#x153;No my lord!â&#x20AC;? All in a bid to be careful with the court.

Indeed, it shows on the judgeâ&#x20AC;&#x2122;s face that some of them are also disturbed when they are accused of corruption.

A more interesting thing happened when two cases of Economic and Financial Crimes Commission were called after ours and with all due respect, an unprepared junior counsel appeared to move two faulty motions for leave to do something before they charge some accused persons. The court berated the prosecutor and brought to his notice his mistakes. In fact, in one of the motions, EFCC failed to exhibit the petition or complaint brought to it, which was said to be fundamental. But the court granted the application, saying something like â&#x20AC;&#x153;so that they should not say that it is Justice so-so-so and so (the judgeâ&#x20AC;&#x2122;s name) that is allowing corruption.â&#x20AC;?

Actually, the judge had to even ask that prosecutor

he capture of Evans and six members of his gang should help the police in ďŹ nding a solution to the booming and violent crime of kidnapping across the country. Evans had confessed to many cases of kidnappings and some other crimes across borders, including trafďŹ cking in hard drugs. He should be securely kept and thoroughly debriefed for intelligence purposes: let him and the gang say all that they know.

We are particular about the safety of Evans because of some ugly incidents in the past which denied the security agencies and the nation the requisite information that could have been used in containing violent crimes.

Perhaps the most recent example was the case of Henry Chibueze, aka Vampire, a murderous kidnapper and armed robber. He reportedly confessed to killing more than 200 innocent Nigerians, including children and prominent personalities in the South-east and SouthSouth. He also killed his girlfriend and eight members of her family in Lagos in a most gruesome manner. But the 30-year-old Vampire was allowed to â&#x20AC;&#x153;escapeâ&#x20AC;? while in the custody of the Nigerian Prisons Service in January and â&#x20AC;&#x153;killedâ&#x20AC;? in a gun dwell with security agencies in March. His death meant the country was denied of some intelligence, information and contacts that could perhaps have helped in tackling the growing rate of crime in the society.

Therefore, the police must guard against such mistake by ensuring that nothing happens to Evans while in protective custody. But they must also be professional in the way they conduct the investigation so they can obtain valuable intelligence beyond what is already in the media.

why he insists on coming to that court if he knows that he will always make mistakes. This means that the prosecutor, and indeed many other prosecutors are poorly prepared, and that could be a leeway that sets an accused person off the hook.

But I also tried to be fair to the prosecutors because, they are poorly funded as compared to the big law names they face in court for the defendant and the large number of cases they handled per person.

I used to presume during my university days that whenever I see a lawyer with a squeezed or reddishblack, old suit and gown, s/he is either a prosecutor or a senior lawyer.

Mark you, Iâ&#x20AC;&#x2122;m not talking about Bukola Sarakiâ&#x20AC;&#x2122;s trial on the above argument because, it was a SAN that prosecuted it. For EFCC and other anti corruption agencies to be successful in the myriad of multibillion naira cases handled by them, there has to be a provision for proper funding. They should be taken care of like employees of other agencies regarded as prestigious such as NNPC, FIRS, etc.

Finally, an argument that may not be totally disregarded is that which claimed that the victory of Saraki is a compromise by the APC-led government in a bid to solve its intra-party crises. No matter what will be the reason for the recent developments on the war against corruption, one thing that is clear is that there is a real problem somewhere that has to be solved.

Hussaini Hussaini, Abuja

NEEDED: SAUDI SOCIAL SCIENTISTS

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hese days one of the many buzzes in the newsfeed streams and channels is the â&#x20AC;&#x153;Northern Nigeriaâ&#x20AC;? narrative, be it eagerness to manipulate presidential powers and privileges or widespread expression of shame and regrets that this region is holding Nigeria back. Painfully as it is, it is a known fact that Northern Nigerians are obstinate in their viewpoint of modernity and the propensity to modernise over there is dismal. But the North has an underlying love for Saudi Arabia because it is ingrained in its psyche that these Arabs are semi-divine and therefore absolutely superior to everyone else. Thus, whereas Northern Nigerians would scoff at the idea of education, skills acquisition, wholesome

public hygiene, etc., if these ideas were touted by other people, they would consider it great honour if these ideas were preached to them by the Saudi Arabs and only then would they accept that their temporal existence would be made any better.

Thus, Northern Nigeria needs Saudi Arabian social workers to come over, live with the folks, and help contribute to the overall wellbeing of this region in the manner that the Western missionaries did for the southern half of Nigeria.

Really, it is time for Saudi Arabia to show love and reciprocate the pilgrimage benefits that Nigerians have bestowed on the barren land of the Saudis.

Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna

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T H I S D AY WEDNESDAY JUNE 21, 2017

www.ogbakorikwerreworldwide.org

OGBAKOR SECRETARIAT Obiri Ikwerre, East-West Road Alakahia Akpor, P. O. Box 11637 Port Harcourt, Nigeria Email: ogbakorikwerre@gmail.com

COMMUNIQUE In a joint meeting of the Supreme Council of the Government recognized Ikwerre Traditional Rulers and the Ogbakor Ikwerre Cultural Organization Worldwide represented by the President General, the Ochi Ohnas and other members of the Executive Committee on the 7th of June, 2017 at the Palace of His Royal Highness Eze Morgan Nwenenda Amadi, Paramount Ruler /Nye Nweeli Okporo/Okwurusi.

We do not subscribe to any call or demand for any other republic out of the Federal Republic of Nigeria and unequivocally state that no part of Ikwerre territory should be used as a base for such demand.

The meeting resolved as follows that: 1.

The Executive Governor of Rivers State, his Excellency, Nyesom Ezenwo Wike, CON is a tested , Trusted and proven Ambassador of Ikwerre Ethnic Nationality and a true son of Rivers state.

We call on our people to take advantage of the on8. going INEC voters registration exercise and come out en-mass to participate.

7.

We commend His Excellency for the successful and colourful hosting of the Golden Jubilee Anniversary and celebration of his two years in office .

9. We also call our erring youth to embrace the amnesty programme of Rivers State as this will go a long way in 2.

We are pleased with the speed at which the bringing peace and stability in the state. judiciary and the legislative arms of Government were reviewed and stabilized in the past two years of his 10. We thank the residents, indigenes and nonadministration. indigenes of the state for their maximum co-operation and assistance in achieving this herculean task. We urge 3.

We are also pleased with the level of infrastructural His Excellency to consolidate in the gains already development witnessed across the State within a period recorded as he moves into his second half of his tenure. of 2 years in the face of the economic situation in the We hereby pledge our unalloyed support to his country. This is worthy of note and highly commendable. Excellency, Chief Nyesom Ezenwo Wike, CON and his Ikwerre Ka Ji Meka oo. entire cabinet in their drive towards moving the state forward.

4.

We thank His Excellency for the unity he has promoted among the various ethnic groups in Rivers That in view of the above, we on behalf of Ikwerre state and beyond. ethnic Nationality hereby pass a vote of confidence on his Excellency, Ezenwo Nyesom Wike, CON in his The Ikwerre Ethnic Nationality promise to administration and wish him more successful years 5. assiduously work closely with other ethnic nationalities, ahead . groups and corporate organisations in the state to foster an enduring peaceful environment for peace, unity and May God grant him and family protection, equip him for co - existence to thrive. To this end, we canvass a peace more accomplishments and make him leave a mark on building process to be vigorously pursued at all level of the sand of time. leadership in Rivers State.

Long live Ikwerre Ethnic Nationality 6.

Ikwerre Ethnic Nationality is a distinct and unique Long live Rivers State Nationality within the Nigerian Federation and therefore Long live Federal Republic of Nigeria cannot be an appendage of any other Nationality in Nigeria.

Eze Blessing Wagor JP Wagidi 40th Nye Nweali isiokpo Ancient Kingdom Chairman Supreme council of Govt .

Recognised Ikwerre Traditional Rulers .

Rev Can. Emeritus Prof. Simeon Chituru Achinewhu JP. President General Ogbakor Ikwerre Cultural Organisation Worldwide

T H I S D AY WEDNESDAY JUNE 21, 2017

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T H I S D AY ˾ WEDNESDAY, JUNE 21, 2017

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Unfazed by Defection Despite the defection of some prominent members of his party to the All Progressives Congress, Enugu State governor, Ifeanyi Ugwuanyi, continues to impress with his performance, Davidson Iriekpen writes

T

he question, which governor in the South-east enjoys the widest support of his people is likely to yield a unanimous verdict - the governor of Enugu State.

A testimony to his soaring popularity emerged last week when traders in the state under the auspices of the Enugu State Amalgamated Traders Association (ESAMATA) shut down markets for a solidarity rally in support of the good works of Governor Ifeanyi Ugwuanyi is doing in transforming the state despite the severe economic challenges in the country.

The traders said they organised the rally to appreciate the governor’s empowerment programmes “carefully designed to assist the traders in Enugu State grow their businesses, improve their fortunes and stimulate the economy of the state. In unison, the traders endorsed the governor for re-election in 2019. They said that he had performed well in just two years in office despite the daunting economic challenges in the country and therefore, deserved another term of four years.

A week earlier, ESAMATA had advised residents to store food stuffs and other needed items ahead of the plan to shut-down the markets to celebrate Ugwuanyi, a decision, they said said, was unanimously taken among them. On the day of the rally, (last Thursday), just as they promised, the traders did not disappoint. Not only were all their shops shut, they practically shut down the state capital to express how happy and pleased they were with Ugwuanyi for his visionary leadership and the empowerment programme initiated by his administration, where 100 lucky traders win N50,000 each every month. The President-General of the traders’ union, Hon. Temple Ude, noted at the rally, that his policies “are most favourable to traders doing business in Enugu State.”

Ude added that the cordial relationship existing between the governor and traders in the state “is equal to none” when compared with what obtained in other states in Nigeria, especially in the south-east..

“Your excellency, no government in the past has ever attempted to establish the existing relationship between traders and government.

Traders in Enugu State have resolved that if tenure elongation were democratic, they will sponsor a bill that Ugwuanyi should be cleared for a third term in office. We are happy that even with the current economic hardship you still positively navigate the affairs of the state for the betterment of the people of Enugu State. We have unanimously endorsed your re-election come 2019,” the president-general said to a huge applause.

Responding, the governor thanked the jubilant traders for the gesture of goodwill and solidarity and support, adding that he felt highly honoured that they shut down markets in the state to gather in their numbers “to show appreciation for the empowerment scheme that we launched for traders in Enugu State last February.” He explained that the Traders’ Empowerment Scheme designed to boost economic activities in the state and improve the lives of the ordinary members of the society, was consistent with his promise to deploy government resources and services to create fair and equal opportunity for everyone.

“We have indeed resolved to do all that is necessary to better the lot of traders in Enugu State. In this regard, I promise that we will never allow anyone to harass, oppress or exploit you as you go about your legitimate businesses. We are discussing with financial institutions, international corporations and other relevant organisations on the ways and means of extending easier and more convenient lines

Ugwuanyi... market was shut down to celebrate him

of credit and other facilities to traders in Enugu State,” Ugwuanyi stated.

While the common refrain for most governors is that the country’s economic downturn has hampered their capacity to fulfill their statutory obligations and campaign promises, Ugwuanyi continues to record remarkable achievements in all strata of human development especially in infrastructural and socio-economic development.

The policy thrust of his administration remains focused on the grassroots and towards developing the rural areas to give the dwellers a sense of belonging and opening up such areas to create more urban centres for socio-economic expansion. Indeed, this commitment has informed the concentration of massive infrastructural projects in the most remote and hitherto neglected areas across the state’s 17 local government areas of the state. But apart from infrastructural development such as the over 35 capital projects being implemented simultaneously across the 17 council areas of the state, Ugwuanyi’s administration has recorded similar progress in other spheres of development. These are in education, where his government recently recruited additional 2,000 teachers and renovated over 200 schools; in agriculture, where output in rice production has grown to a remarkable level; mass housing, with a 100 units of one-bedroom apartment for civil servants below grade level 10. Equally

Indeed, the governor’s favourite line that “Enugu is open for business”is by no means a mere campaign rhetoric. It is driven by the conviction that given the right policies, Enugu will attract ample foreign investments

significant is the fact that the government paid over 50 per cent equity contribution for the beneficiaries. Of course, employment generation, enhancing social services and good governance, are other areas the governor ranks high.

The strengthening of Neighbourhood Watch across the 17 local government areas with additional vehicles and security gadgets has also earned him generous applause. And so has the regular and prompt payment of salaries and pensions despite the economic challenges facing the country and some states of the federation.

The stream of eulogies continued last month as the governor commemorated his second year anniversary, the highlight of which was the inauguration of 26 development projects executed by his administration. The projects sited mostly in the rural areas were among the 35 flagged off simultaneously late last year across the local government areas, in line with the administration’s vision to open up the rural areas and create more urban centres for socioeconomic growth. Inaugurating the projects which comprised construction of twenty roads, two rural electrification scheme, four boreholes, Ugwuanyi, who was represented at the various sites by members of the state executive council, stated that the events were another practical demonstration of his administration’s determination and capacity to fulfill its promises to the people of the state, despite the severe economic constraints facing the country.

According to him, “on October 15, 2016 and in fulfillment of the promise of the state government to execute a development project worth at least N100 million in each of the 17 local government areas of the state, we simultaneously flagged off the execution of vital projects such as roads, water, electricity and others, in all the 17 local government areas of the state.”

It’s no surprise then that such impressive scorecard has resulted in a smooth working relationship between the executive and both the legislature and judiciary. This was evident recently as the state’s chief judge, Justice Ngozi Emehelu, commended the governor for his swift

resolution of the recent strike action embarked upon by the state’s Judiciary Staff Union of Nigeria (JUSUN).

Speaking at the premises of the state high court complex during the inauguration of 250kva and 150kva sound-proof generators approved by the state government to boost steady power supply to the courts, Justice Emehelu noted that the governor’s approval of 50 per cent payment of the Consolidated Judiciary Salary Structure (CONJUSS) to workers in the judiciary union has restored industrial harmony in the state. She also remarked that the prevailing harmonious working relationship between the executive, the legislature and the judiciary is testament to the governor’s “able leadership,” adding that this has engendered mutual respect, peace and unity.

Instructively, Ugwuanyi has won acclaim even from across party lines as was the case recently when the Director General of the Voice of Nigeria, Chief Osita Okechukwu, a chieftain of the APC praised the governor for what he described as his “bipartisan approach to governance.”

Okechukwu, often a staunch critic of the opposition PDP, the governor’s political platform, stated this during a courtesy visit to the Government House, Enugu, by members of the Implementation Committee for the proposed ICT University to be sited in Enugu. “We’ are happy because whatever comes to Enugu State you always show your support and have demonstrated a bipartisan approach to governance. That shows that you take everyone in Enugu as yours and do not discriminate,” he said.

A similar sentiment was shared by the chairman and chief executive officer of Air Peace Limited, Chief Allen Onyema, who described Ugwuanyi as a visionary and forward-thinking governor who has assembled technocrats to help him in making the right choices for his people. Onyema made the statement at the Government House, Enugu when he paid a courtesy visit to the governor over his company’s plan to use the Enugu International Airport as its operational hub in Nigeria and Africa.

“We have in Ugwuanyi the best governor in the South-east. He is very visionary, he has brought many technocrats together to think about what he will do for his people. So, we want to align ourselves with his dreams and that is why we decided to choose Enugu Airport among all the airports in Nigeria for our business investment,” Onyema said.

Indeed, the governor’s favourite line that “Enugu is open for business” is by no means a mere campaign rhetoric. It is driven by the conviction that given the right policies, Enugu will attract ample foreign investments. This zeal has been yielding some dividends lately, the most recent emerging during the visit of the United States Commercial Counselor, Brent Omadahl, who led a delegation from his country to the state. He applauded the friendly business environment in the state under the governor, saying that the state had become a destination for investment.

The envoy said that the US was ready to invest in Enugu State particularly in the area of solar energy under Public Private Partnership (PPP), adding that one of the aims of the visit was to follow up discussion on a solar energy factory which a US firm, Dusable Investment, planned to build in Nachi and which, when completed, would generate electricity and provide employment.

In view of Ugwuanyi’s impressive two years, what then could be the basis for some of the high profile defections seen lately from his party to the APC? The plausible answer lies in politics.

To the politically-ambitious, the governor’s rising profile and endorsements can only imply one thing: their plan to take over power from him will simply not materialize.

T H I S D AY ˾ WEDNESDAY, JUNE 21, 2017

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UPDATE&TRENDING

MIDWEEKPOLITICS

Ajimobi: A Cat with Nine Lives Oyo State governor, Abiola Ajimobi has survived many battles; some self inflicted, others in the hands of detractors. Ademola Babalola examines how he has managed to come out unscathed

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here is an ancient proverb that claims, “a cat has nine lives. For three he plays, for three he strays and for the last three he stays.”

Some people believe the nine lives myth is related to cats ability, agility and dexterity to always land on their feet. This mythical illustration of cat having nine lives have also been said for ages of exceptional humans with ability to survive many battles.

Among such individuals is the present occupant of Agodi Government House in Ibadan, the capital of Oyo State The governor, Senator Abiola Ajimobi has survived many battles; sometimes self inflicted and others out of detractor’s quest to trap him.

Having risen through the ranks to become a Managing Director of a multinational company in its hey days, Ajimobi left the corporate world after meritorious service to join politics and within months got elected as a Senator under the Alliance for Democracy between 2003-2007.

By 2007, he became one of the best sought after in the political firmament of Oyo state to succeed the crisis-ridden Peoples Democratic Party administration of Senator Rashidi Ladoja as governor.

However, Ajimobi couldn’t succeed to fly the ticket of his party which had then metamorphosed into the Action Congress (AC) and as a consummate politician determined to contribute his quota to the sociopolitical development of the Pace Setter’s state, he joined the All Nigerian Peoples Party (ANPP) and got its gubernatorial ticket. By this time, Ladoja had lost the return ticket of the PDP to his erstwhile deputy, Otunba Adebayo Alao-Akala and the game thus became a straight fight between Akala and Ajimobi but he lost the race to the former.

With the 2011 race gathering momentum, Ajimobi had the ears of Ibadan elites, the Alaafin and the late businessman and Aare Musulumi of Yoruba land, Alhaji Azeez Arisekola Alao who had also fell out of favour with Akala.

He (Arisekola) teamed up with the other influential leaders in the state including the bulk of Ibadan elites, intelligentsias and aggrieved elders in the PDP which included the then Senate Leader, Teslim Folarin, Hon. Ademola Adeseun (as he then was before he became Senator), Sharafadeen Abiodun Alli, Senator Lekan Balogun, then factional Chairman of PDP in the state, Alhaji Yunus Akintunde and a host of others, to secure victory for Ajimobi who won the race against the incumbent.

As a Smart Alec that he is, Ajimobi nicknamed as Archipelago in his secondary school days at Lagelu Grammar School, Ibadan, formed what he termed “Rainbow Government’’ thus becoming the first governor to form cabinet as he incorporated sons and daughters of foremost traditional rulers in the state viz the Alaafin, the Olubadan and Soun of Ogbomoso. The elites including his foremost financier who bankrolled his 2011 election, Alhaji Arisekola also had their children either as commissioners or advisers in his government.

Unlike his predecessors, and for the first time in the current republic, his government witnessed unprecedented peace as he garnered support of all and sundry. What could have created a hitch in his administration, the activities of the dreaded and notorious National Union of Road Transport Workers (NURTW) were curtailed by the governor who placed a ban on the union. The union’s ring leaders, Alhaji Lateef Akinsola (Tokyo) has been rendered redundant till date and his archrival, Mukaila Lamidi (Auxiliary) is still in Agodi prisons for murder-related offence. Remember their third, Lateef Salako (Eleweomo) was murdered five months before assumed Ajimobi office as governor. He latched on this as he didn’t allow the opportunity to slip, just as he effectively curtailed any further insurgence of brigandage and other forms of violence in and across the state to entrench an enduring peace, safety and security still permeating all geopolitical zones of the state.

Consolidating on these gains, Ajimobi did

Ajimobi... likes to court controversy

not take the support of the elites for granted as he curried their favour till another election in 2015. With the election approaching then, he also fell out with the two serving senators of his party, Olufemi Lanlehin (Oyo South) and Ayoade Adeseun (Oyo North). The third senator, Hosea Ayoola Agboola was of the PDP. Keen political watchers and many people in his party feared he would lose the 2015 race with the defection of the two senators to Accord and PDP respectively.

That he was waiting to be sent parking of Agodi Government house also became rife when news filtered in that Ajimobi had himself moved out of the government house months before the 2015 election. Added to this was the age long belief and myth that no governor would ever rule the state for two terms. However, in an unprecedented turn of events and to the chagrin of his detractors, he won the elusive second term after defeating his predecessors, Rashidi Ladoja (Accord) and Adebayo Alao-Akala (Labour) to the second and third positions respectively thus earning a new name ‘Koseleri’ (an unprecedented second term governor).

He had hardly settled down for his second

The issue of the funding of LAUTECH, jointly owned by Oyo and Osun states, is still on the front burner of public discourse and is seriously casting aspersion on the two state governments with no end in sight

term when he was confronted by education stakeholders in the state on his alleged move to ‘privatise’ public secondary schools. This caused serious infraction and nearly set him against the populace. However, the tension generated soon faded and he succeeded in reforming the plan with what is today known as Schools Governing Boards which is a promising development to reposition the schools for quality academic standard and moral upbringing of pupils.

Ajimobi, who again earned another sobriquet ‘Mr. Constituted Authority’ in a viral video altercation between him and students of the Ladoke Akintola University of Technology (LAUTECH), Ogbomoso, over inadequate funding of the varsity, nearly burnt his fingers in the ill fated fiasco and this almost made nonsense of whatever gain he might have recorded in the education sector. The issue of the funding of LAUTECH jointly owned by Oyo and Osun state is still on the front burner of public discourse and is seriously casting aspersions on the two state governments with no end in sight.

The rage of the moment is the plan by Ajimobi to introduce a new reform through Justice Boadeled panel of inquiry on Olubadan Chieftaincy Law of 1957. Like similar controversy that dogged alleged privatisation of public schools, Ajimobi who was seen as having ulterior motives on the Olubadan chieftaincy system later won the argument as the palace and Olubadan In Council who had earlier castigated him for dabbling into another needless controversy soon made a U-turn and has now thrown their weights behind the move, describing their initial standoff on lack of proper communication.

Just recently too, precisely May 29 Democracy Day, marking his 6th year in office, Ajimobi at a media interaction said he would unveil his successor during next year’s democracy day.

He alluded to the fact that about 34 aspirants within APC alone were angling to take over

from him but with a proviso that only five of them were being watched closely. Reports after the event had it that the top five were a serving Deputy Governor of the Central Bank of Nigeria (CBN), Bayo Adelabu, an APC chieftain and ex-Works Commissioner in his cabinet, Alhaji Yunus Akintunde, a serving Finance Commissioner, Bimbo Adekanmbi, a former Chief of Staff, Professor Adeolu Akande and a legal icon, Chief Adeniyi Akintola, SAN. As usual, that he had the effrontery to disclose that he would announce his successor next year expectedly drew the ire of many, who considered the statement as unguarded, diversionary and self-serving. The governor, however later issued a clarification saying that God, the ultimate decider of men’s fate would choose his successor.

However, with the opposition still in disarray with less than 18 months to the next governorship election, it remains to be seen if Ajimobi would not succeed in installing a successor especially if the latest statewide infrastructural developments are anything to go by.

Aside the ruling APC where Ajimobi currently holds the ace on who emerges as the party’s candidate, the other four major parties that featured in 2015 election are still the ones likely to produce candidates of all manners and shades as we journey ahead. With their likely flag bearers as Accord (Rashidi Ladoja or Femi Lanlehin), Labour (Sharafadeen Abiodun Alli), PDP (Teslim Folarin, Ayoade Adeseun or Femi Babalola Jgor), SDP (Seyi Abiodun Makinde), the centre in the opposition parties are unlikely to hold as the chance for these parties which are the break away factions of hitherto strong PDP, to jointly pick a consensus candidate, appears herculean.

At the moment, APC holds the key to Agodi government house unless other key actors and political parties coalesce to anoint a candidate who would give the APC a run for its money and popularity.

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FEATURES

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

For the Love of Art From Onaliâ&#x20AC;&#x2122;s depiction of a woman in the throes of pleasure, to Iduâ&#x20AC;&#x2122;s poignant depictions of women and children, this art exhibition has something to say, writes Solomon Elusoji

Onali's Ecstasy in Gold and Grey II

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n a cool Saturday in early June, lovers of art convened inside a whitish hall at Mansard Place, Victoria Island, to witness the unveiling of an art exhibition titled â&#x20AC;&#x2DC;Covers and Contoursâ&#x20AC;&#x2122;.

The exhibition, which will run till the end of June, features seven contemporary artists: Polly Alakija, Adeola Balogun, Promise Onali, Chika Idu, Diseye Tantua, Omoligho Udenta and Godwin Ekhanemeh. â&#x20AC;&#x153;Covers and Contours is a celebration of our rich diversity and talent,â&#x20AC;? the exhibition's curator, Moses Ohiomokhare, said. â&#x20AC;&#x153;These works provoke various questions, are city inspired? And the artists have explored new techniques to express themselves.â&#x20AC;?

Ohiomokhare, a lean man who speaks with quiet grace, told THISDAY that the theme, Covers and Contours, speaks to the universal vicissitudes of life. â&#x20AC;&#x153;Life is full of waves and you have to wade through it.â&#x20AC;?

Itâ&#x20AC;&#x2122;s all about the view Alakija, one of the artists on display, creates visually stimulating works and she replicates that quality at Covers and Contours. One of her displayed works is the frazzled painting of a beach landscape. "I was just standing on the side of the beach that day and it was raining, stormy," she told THISDAY, speaking about how the work was conceived. That spontaneity is a thread that runs through her works.

There is another of a woman practicing yoga and an aged man with a hat posing with an idol. â&#x20AC;&#x153;The yoga woman is my yoga teacher,â&#x20AC;? she said. â&#x20AC;&#x153;I love working with the human form and body, so I asked her to pose for me. I met the old man at Susanne Wenger's house in Osogbo. He was trained

Idu's The Coming

by Susanne.â&#x20AC;? To celebrate him and capture the essence of his apprenticeship, she asked him, too, to pose for her.

Alakija says her works have no underlying theme. â&#x20AC;&#x153;I am not that deep,â&#x20AC;? she said, â&#x20AC;&#x153;for me, art is simply a visual response to life.

There are no rules. It's a visual response to how you see the world.â&#x20AC;? â&#x20AC;&#x153;Alakijaâ&#x20AC;&#x2122;s work as a designer, artist and illustrator, educator and social activist has distinguished her in the eyes of the local

Onaliâ&#x20AC;&#x2122;s depiction of a woman in ecstasy, titled â&#x20AC;&#x2DC;Ecstasy in Gold and Greyâ&#x20AC;&#x2122;, is perhaps the most visually stimulating work at Covers and Contours. It offers a stunning, picturesque window into the black alley of female sexuality.

The colours, bright and tantalising, give the work a liquid feel, like an abstraction of the ocean

and international community,â&#x20AC;? Ohiomokhare noted. â&#x20AC;&#x153;Her heart for people, allows her to relate with all ethnic groups and social classes.

Her deep commitment to social justice and human right alongside showcasing the wealth of African culture shines through in all her work.â&#x20AC;?

A simpliďŹ ed process Udentaâ&#x20AC;&#x2122;s work with flower-shapes makes a prominent statement at â&#x20AC;&#x2DC;Covers and Contoursâ&#x20AC;&#x2122;.

Using cardboard, crepe paper, cloth-pieces and even printing plates, she offers an array of art that is both subtle and brash. â&#x20AC;&#x153;I used to make them as backdrops for events such as weddings and birthdays, when I realised I could infuse my own characteristics into the flowers and give them personality,â&#x20AC;? she said.

One of her works at the exhibition, titled â&#x20AC;&#x2DC;Perspectives of Perceptionâ&#x20AC;&#x2122;, is a collection of 24 petals made with different shades of fabrics from some of Nigeriaâ&#x20AC;&#x2122;s diverse ethnic groups and a white lace at the centre. â&#x20AC;&#x153;Virtually every tribe in Nigeria uses white lace for one thing or the other and I wanted to show the different ways we do.â&#x20AC;?

Udenta also has a wide installation that speaks to the whistle-blower phenomenon currently sweeping through the country: within a black petal is embedded petals made of fabrics and another made of pieces of Ghana-must-go, with whistles hanging from the centre. Udenta explained the idea behind the design: â&#x20AC;&#x153;The black colour symbolises our natural resources, our oil; the different fabrics â&#x20AC;&#x201C; lace, George and ankara, symbolises the three major tribes; the Ghana-must-go is the storage mode for the stolen funds; and, of course, the whistles.â&#x20AC;?

Udenta, who teaches Graphic Design at

Yaba College of Technology, does not leave things to chaos; she goes through a systematic process while creating art. â&#x20AC;&#x153;What I do is to break down things into lines, colour and texture and lines, look for things to symbolise them and then use them to say what I want to say,â&#x20AC;? she said.

Interestingly, the mother of three, who used to work in post-production television, creates as a therapeutic method to avoid the stress of motherhood; â&#x20AC;&#x153;Itâ&#x20AC;&#x2122;s a way to calm myself,â&#x20AC;? she said. But, she told this reporter, the joy of art, is that it helped her to â&#x20AC;&#x153;find a voice.â&#x20AC;?

Freedom and will Onaliâ&#x20AC;&#x2122;s depiction of a woman in ecstasy, titled â&#x20AC;&#x2DC;Ecstasy in Gold and Greyâ&#x20AC;&#x2122;, is perhaps the most visually stimulating work at Covers and Contours. It offers a stunning, picturesque window into the black alley of female sexuality.

The colours, bright and tantalising, give the work a liquid feel, like an abstraction of the ocean. â&#x20AC;&#x153;It could be about freedom,â&#x20AC;? Onali said, â&#x20AC;&#x153;the freedom to explore something new.

But itâ&#x20AC;&#x2122;s something that talks, more, about me being deflowered. In my alternate life, I am this amazing superwoman that jumps out of skyscrapers, wears six inches and fights bad people.â&#x20AC;?

His superwoman alter-ego is the creation of Onaliâ&#x20AC;&#x2122;s obsession with Marvel and Universal comics since he was a child. â&#x20AC;&#x153;I grew up drawing a lot of comics and that helped shape my imagination.â&#x20AC;?

According to Ohiomokhare, Onali has gone through various stages of incubation and has always been driven by the desire to create brutal images that invade the imagination. â&#x20AC;&#x153;Now that he has opened himself up to the public, we are seeing abstract works that speak

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FEATURES

Colonial Lagos largely shaped the city's modern identity

Alakija's Yoga

Omonigho's Whistlers Flower

Art lovers at the unveiling

Idu

to us and provoke various questions about life and existence.â&#x20AC;?

The young man does not disagree; his works, these days, are focused on â&#x20AC;&#x153;the evolution of consciousness, of humanity, of the mind, of technology and, of women taking charge of their lives,â&#x20AC;? Onali said.

Another of his work that catches the eye at the exhibition is â&#x20AC;&#x2DC;In Our Veinsâ&#x20AC;&#x2122;, a sparkly painting that could be easily mistaken for a poor depiction of an embryo in the womb. â&#x20AC;&#x153;I was trying to depict the nerve endings of a typical Nigerian,â&#x20AC;? Onali said. â&#x20AC;&#x153;We have that will to do things for ourselves, to succeed. It is something that is borne out of our government not doing things for us. So our nerve endings has this sort of spark that other people from other countries do not have.â&#x20AC;? â&#x20AC;&#x2DC;In Our Veinsâ&#x20AC;&#x2122; is accompanied by lines from a rap verse that reads, in part: â&#x20AC;&#x153;Pay no attention to how we are portrayed on CNN, Nigerians are self-sufficient, we are not as poor as they seem to make us look in the media.â&#x20AC;?

For the pondering mind The most poignant works at Covers and Contours come from Idu, an artist whose works are characterised by a heavy texture and hazy rendition technique which he calls

For almost two decades, Idu has been committed to exposing the plight of the African child through his works, and â&#x20AC;&#x2DC;The Sun Will Shineâ&#x20AC;&#x2122;, where four children with schoolbags are seen with their arms wrapped around one another, is a brilliant depiction of the innocence of childhood

â&#x20AC;&#x2DC;light against visual distortionâ&#x20AC;&#x2122;. With â&#x20AC;&#x2DC;Reflectâ&#x20AC;&#x2122;, a sharp illustration of a battered woman, Idu tells the story of domestic violence, an issue he is very passionate about. â&#x20AC;&#x153;In our days, when we were kids, domestic violence was commonplace. People speak against it today, but it still exists; a lady comes out looking good, but you donâ&#x20AC;&#x2122;t see the pain underneath.â&#x20AC;? â&#x20AC;&#x2DC;The Comingâ&#x20AC;&#x2122; speaks to that masking of pain by women suffering from domestic violence, either physically or psychologically.

In the painting, a woman is dressed, ready for the world, but she is about to put on a mask. â&#x20AC;&#x153;I created this to send a message about women who pretend that all is well, despite being in abusive relationships.â&#x20AC;?

For almost two decades, Idu has been committed to exposing the plight of the African child through his works, and â&#x20AC;&#x2DC;The Sun Will Shineâ&#x20AC;&#x2122;, where four children with schoolbags are seen with their arms wrapped around one another, is a brilliant depiction of the innocence of childhood. â&#x20AC;&#x153;A child grows up thinking everyone is the same,â&#x20AC;? Idu said, â&#x20AC;&#x153;it is we adults who sow the seed of discord and teach them about the difference.â&#x20AC;?

Idu, who has been involved in campaigns for the protection of the environment as it affects the health of children, is also exhibiting â&#x20AC;&#x2DC;Life As It Isâ&#x20AC;&#x2122;, an utopian illustration of children swimming in clean water. He lives in Ikorodu and is a witness to seedy state of the lagoon. â&#x20AC;&#x153;It is quite sad the way we treat the environment,â&#x20AC;? he said.

A complete package The other artists at Covers and Contours, Diseye Tantua, Godwin Ekhanemeh and Adeola Balogun complete a circle of mouth-watering art. Ekhanemeh features some unconventional furniture along with his sculptural pieces and the organisation of interior space is apparent in his sculpture and furniture, according to Ohiomokhare. And Balogun applies his work to engage subjects as diverse as politics, nature, humanity and survival via exploration of numerous available and unusual materials serving as his vehicle of interrogation in a multiple layered format, while Diseye Tantua is a bundle of energy who engages with popart in his work, drawing inspiration from traditional proverbs.

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Photo Editor Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039; Email Ă&#x2039;Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC;Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x2039;Ă&#x2013;Ă&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

L-R National President CatďŹ sh and Allied Fish Farmers Association of Nigeria (CAFFAN), Mr Oloye Rotimi Olibale; General Manager, Nutrition and Veterinary, Crown Flour Mills, Dr Sadarno Sumrato; Business Head / Vice President, Olam, Mr Ashish Pande; and National Sales Manager, Animal Feed, Olam, Mr Matthew Asuelimen, at the launch of Aqualis animal feed and protein /farmers forum organized by Crown Flour Mill Ltd in Abuja... recently L-R: National President, National Association of Nigeria Theatre Arts Practitioners (NANTAP), Mr. Isreal Eboh; Chairman, Lagos Chapter, NANTAP, Mr. Makinde Adeniran; Managing Director/Ceo, Touchstone Limited, Mr. Tunde Ojo and Head of Administration, Mr. Bukie Oluyemi, during the press conference to ďŹ&#x201A;ag-oďŹ&#x20AC; the playwriting competition of Akete Theatre Festival in. Lagos... recently. kolawole alli

L-R; President, Bank Directors Association of Nigeria (BDAN), Sir Steve Omojafor; Managing Director, Ecobank Nigeria, Charles Kie; Secretary, BDAN, Funmi Oyetunji; Vice Chairman, BDAN, Sam Cookey and Financial Secretary, BDAN, Teju Phillips during BDAN courtesy visit to Ecobank management in Lagos...recently sunday adigun

L-R; Director General, OďŹ&#x192;ce of Education Quality Assurance, Lagos State, Mrs. Ronke Soyombo; Director General/ Permanent Secretary, Lagos State Ministry of Education, Mrs. Yinka Ayandele; former Ogun State Commissioner of Justice, Mr. Wemimo Ogunde SAN; Principal Consultant Edumark, Mrs. Yinka Ogunde; former Lagos State Deputy Governor, Princes Adebisi Sarah Sosan; and the Special Guest, Dr. Tunji Abimbola, at the 9TH Edition of Edumark Total School support Seminar and Exhibition, in Lagosâ&#x20AC;Śrecently sunday adigun

L-R: Glo subscribers, Emordi Onyeka Silvia, Oyinkansola Salako, Ugandan Comedian, Patrick Idringi (a.k.a.

Salvador), and Glo subscriber, Aderinsola Busari, at the mega comedy tour, Glo Laffta Fest in lbadan...recently

L-R: Former Group Managing Director, Telnet Nigeria Limited, Dr. Nadu Denloye, Executive Director Investments; Stanbic IBTC Asset Management Limited, Mr. Shuaib Audu; Head, Research and Corporate Strategy, Stanbic IBTC Pension Managers Limited, Mr. Charles Omoera; and Chief Executive, Stanbic IBTC Trustees Limited (SITL), Mrs. Binta Max-Gbinije, during SITLâ&#x20AC;&#x2122;s Legacee Roundtable in Lagos...recently abiodun ajala

R-L: President, Nigerian Employers Consultative Association (NACA), Mr. Larry Ettah and Director General , Mr. Olusegun Oshinowo, during the press brieďŹ ng on Nigeria Economic, Monetary Policies and Political Situation in Lagos...recently yomi akinyele

L-R: Mazi Sam Ohuabunwa, MFR and General Manager, Proudly Nigerian Campaign Oganization, Mr. Michael Abugo, during the presentation of Board members of the organisation in Lagos... recently kolawole alli

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BUSINESSWORLD

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

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EXCHANGE RATE ͹͎ͳË&#x203A;͹ͳ˚˚ͯ ĚŠ ĚŠ

Quick Takes FG Commends IITA on Agric Programme

The Nigerian Minister of Finance, Mrs. Kemi Adeosun has said the country will beneďŹ t by signing up for the African Development Bank funded ENABLE Youth (Empowering Novel Agri-BusinessLed Employment) Programme. Nigeriaâ&#x20AC;&#x2122;s signatory to the ENABLE youth programme will make the oil-rich country the third African country coming behind Cameroon and Sudan to beneďŹ t from funds under the AfDB Feed Africa initiative. The ENABLE youth programme is modelled after the International Institute of Tropical Agriculture (IITA) Youth Agripreneur (IYA) programme which has seen a lot of success.The programme is expected to create business opportunities and decent employment for 1000 young women and men along priority agricultural value chains of various enterprises (aquaculture, crops farming, marketing, processing, etc.) per state, includingAbuja,theFederalCapitalTerritory,accordingtotheDirector General of IITA, Dr Nteranya Sanginga. Adeosun said that she was inspired and impressed with the concept and the testimonials of the young agricultural entrepreneurs. â&#x20AC;&#x153;We came here - IITA - to assess a project (ENABLE Youth) being considered by the federal government. From what I have seen today, I am extremely impressed and inspired! We should work on how we can roll out this project nationally,â&#x20AC;? the Minister said.

BRAINSTORMING ON NATURAL GAS

L-R: Chief Executive OďŹ&#x192;cer, Gas Invest Limited and a former Group Executive Director at Nigerian National Petroleum Corporation, Dr. David Ige; Co-Founder and Executive Director, Falcon Corporation Limited, Mrs. Audrey Joe-Ezigbo; Managing Director and Chief Executive, Frontier Oil Limited, Mr. Dada Thomas; Chairman, Geometric Power and a former Minister of Power, Prof. Bart Nnaji ; General Manager (Gas), Total Exploration and Production Nigeria Limited, Mr. Patrick Olinma at the Natural Gas Business Forum 2017 in Lagosâ&#x20AC;Ś recently

Report: FGâ&#x20AC;&#x2122;s Non-oil Revenue Projection Unrealistic Obinna Chima The federal governmentâ&#x20AC;&#x2122;s non-oil revenue projections in the 2017 budget are unrealistic, when viewed in the context of past budgets, a report by the Time Economics, a researchfocused firm has stated.

The Time Economics stated this in its Mid-Year Report obtained on Monday.

It pointed out that the bulk of non-oil revenue in this yearâ&#x20AC;&#x2122;s budget was expected to come from Value Added Tax (VAT), Companies Income Tax (CIT) and Customs and Excise Duties, revenue sources which underperformed by an average of 26 per cent between 2011 and 2015.

The 2017 Appropriation Bill was signed into law on June

ECONOMY 12th, 2017 a month after it was passed by the National Assembly, and over six months after the budget was presented to lawmakers by the President Muhammadu Buhari. The budgeted expenditure in the final version of the bill differed from that in the proposed budget

by N143 billion, an increased from N7.298 trillion to N7.441 trillion.

The budget was based on a benchmark crude oil price of $44.5 per barrel, oil production of 2.2 mbpd and an average exchange rate of N305/USD. Revenue is expected to be N5.08 trillion of which N1.999 trillion will come from oil, N1.373 trillion

from CIT, VAT, Customs and Excise Duties and Federation Account Levies, N807.57 billion from Independent Revenues, N565.1 billion from Recoveries and N210.9 billion from other revenue sources such as mining.

But the report stressed that in the past, the governmentâ&#x20AC;&#x2122;s revenue projections had been quite optimistic; actual federal government revenues were an average of 17 per cent below projected revenue between 2011 and 2015. â&#x20AC;&#x153;In 2016, total half year revenues from these sources were 54 per cent below projections. Although the government reduced its expected revenue from these sources from N1.392 trillion to N1.373 trillion, its projection is still quite unrealistic. â&#x20AC;&#x153;These revenue sources are

dependent on the performance of the economy, which is projected to grow by only one per cent from its 2016 level. Therefore, it is extremely unlikely that any increase in the actual revenues realised in 2017 â&#x20AC;&#x201C; even after accounting for the growth in the economy and a higher level of tax compliance â&#x20AC;&#x201C; will be enough to prevent substantial underperformance in non-oil revenue.â&#x20AC;?

At the end of 2015, GDP per capita was approximately $1900, using an exchange rate of N197/ USD and a population of 182.2 million (World Bank). Full year GDP growth for 2016 was -1.58 per cent, and if assumed that Nigeriaâ&#x20AC;&#x2122;s population grew by Continued on page 24

SEC Considers New Date to Stop Dividend Warrants Issuance Goddy Egene There is an indication that the Securities and Exchange Commission (SEC) may suspend its plan to stop issuance of dividend warrants as from June 30. This, THISDAY gathered, was sequel to calls by stakeholders in the capital market that the plan be put hold on hold.

As part of efforts to reduce unclaimed dividends in the market, the SEC, in collaboration with the Central Bank of Nigeria (CBN) and Nigerian Inter-Bank Settlement System (NIBSS) launched Electronic Mandate Management System (E-DMMS) platform in 2015.

CAPITAL MARKET The platform facilitates the registration for electronic dividend by shareholders. The commission, thereafter, said from July 1, 2017, dividend warrants would not be issued

by Registrars to shareholders, saying investors should registrar for e-dividends.

But few days to the deadline, THISDAY gathered that the capital market apex regulator is considering moving the deadline. â&#x20AC;&#x153;Following calls by shareholders and other stakeholders, the need to ensure more investors

key into the e-dividend and the compassionate disposition of the commission, it is very likely that shareholders will continue to receive dividend warrants after June 30, 2017.

SEC is consulting and will announce a new deadline,â&#x20AC;? a capital market source told THISDAY. Some shareholders had said that while the e-dividend was a good means of reducing unclaimed dividends in the market, most investors were yet to key into the platform.

They therefore said stopping dividend warrants would mean locking out many investors.

For instance, the Chairman

of Ibadan Zone Shareholders Association, Mr. Eric Akinduro, said: SEC has done well by creating a platform where investors can check their non-mandate account with registrars and which many of them have embraced. â&#x20AC;&#x153;However the deadline is what I fault due to the level of illiteracy of both investors and even the banks. SEC needs to do a lot of enlightenment at grass root level for the small investors that are the major owners of this unclaimed dividends to know how to do about itâ&#x20AC;Ś.So SEC Continued on page 24

MainOne Targets Africaâ&#x20AC;&#x2122;s Internet Hub

Following the partnership of MainOneâ&#x20AC;&#x2122;s Data Center company, MDXi, with the Nigerian Internet Exchange, (IXPN) to improve national transit traďŹ&#x192;c in Nigeria, the company has recently announced a new interconnect service for carriers, enterprises and ISPs called Open-Connect. Open-Connect, is a service that facilitates improved interconnection, collaboration and peering within the MDXi Lekki data center and the Internet Exchange. The product will enable the creation of an environment that allows colocated customers connect to multiple networks, cloud and content providers while signiďŹ cantly reducing the cost of backhaul links to various providers and it oďŹ&#x20AC;ers competitive pricing in an open access, carrier neutral environment.

Open-Connect guarantees the best cross connect services in Nigeria, enabling customers bypass the public internet and connect directly to partners, cloud and SaaS providers with secure, reliable and ďŹ&#x201A;exible direct connections. With connections to internet exchanges in Lagos, Amsterdam, London and Ghana and 50+ Points of Presence locations acrossWestAfrica,MainOneenablescarriers,ISPs,contentproviders and enterprises of all sizes to quickly and easily increase their network footprint without investing heavily in additional infrastructure. â&#x20AC;&#x153;TraďŹ&#x192;c growth is a useful indicator of the health of the entire Internet ecosystem, and helps to measure the development of the digital economy.This new interconnection service for customers within our Data Center will signiďŹ cantly improve traďŹ&#x192;c growth and localisation in Nigeria, with reduced latency, improved speed and better quality of services to end users.

Post OďŹ&#x192;ces Key Financial Inclusion

TheInternationalFundforAgriculturalDevelopment(IFAD),Postbank of Uganda (PBU) and Posta Uganda have signed a grant agreement aimed at expanding the role of postal networks in the delivery of remittances and access to ďŹ nancial inclusion across the country.

The new project, â&#x20AC;&#x153;Scaling Up Remittances and Financial Inclusion in Uganda,â&#x20AC;? will provide remittances services in poor rural communities as well as in refugee settlements, many of which are taking in those ďŹ&#x201A;eeing conďŹ&#x201A;ict and food insecurity in neighbouring South Sudan.

The IFAD grant agreement for Euro 465,000 was signed by Director of IFADâ&#x20AC;&#x2122;s Policy andTechnical Advisory Division, Adolfo Brizzi, in the presence of Executive Director of Postbank Uganda, Alex Kayaayo.

The signing took place following the Global Forum on Remittances, Investment and Development, held at UN headquarters in New York recently. Under the agreement, Postbank Uganda will leverage Posta Ugandaâ&#x20AC;&#x2122;s broad network of rural post oďŹ&#x192;ces to expand access to ďŹ nancial services for the rural population. The post oďŹ&#x192;ces will be equipped with modern digital and mobile technologies for remittance delivery and ďŹ nancial services transactions, and postal staďŹ&#x20AC; will receive specialised training.

â&#x20AC;&#x153;Since the banks are in business not to lend their own money, but depositorsâ&#x20AC;&#x2122; money, they would want to be sure that whatever money that they lend to any person or corporates, are securedâ&#x20AC;?

Central Bank of Nigeria Governor,, Mr. Godwin Ifeanyi EmeďŹ ele

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BUSINESSWORLD REPORT: FGâ&#x20AC;&#x2122;S NONOIL REVENUE PROJECTION UNREALISTIC 2.5 per cent, and an exchange rate of N305/USD, GDP per capita fell to $1177. This decline in income over a single year was quite substantial but it was even worse when compared to GDP per capita in 2014 which was approximately $2200, a 47 per cent decline in just two years, the report added. â&#x20AC;&#x153;If the economy grows by one per cent in 2017, and the exchange rate is unchanged at N305/USD, GDP per capita falls further to $1160, again assuming 2.5 per cent population growth.

Given the significant reduction in income for the average Nigerian since 2014, and the high rate of population growth, GDP growth will have to be above 5% for a long time for Nigerians to have any chance of regaining their lost income,â&#x20AC;? it stated.

SEC CONSIDERS NEW DATE TO STOP DIVIDEND WARRANTS ISSUANCE should not close the platform because unclaimed dividend is a continuous issue that cannot stop over a period of time.

How many small Investors have access to internet and computer to check this but with time information will go round and more people will get it done,â&#x20AC;? Akinduro said.

Also, another stakeholder, Mrs. Bisi Bakare said stopping issuance of dividend warrants would not solve the problem. â&#x20AC;&#x153;In as much as I am in total support of e-dividend, it is not matured now to completely stop the issuance of dividend warrants. Before that should be done, we need to do more of enlightenment, especially in the rural areas. Before now, most investors were civil servants, who have retired to their villages or changed addresses. Most of them do not have access to mass media to key into the E-DMMS that SEC has introduced. We need to go down to the rural areas to enlightened them. If SEC goes ahead to implement its decision, many of the investors would remain locked out and this would have defeated the objective.

NEWS

House Okays Reinstatement of Abolished Civil Service Tenure Policy James Emejo in Abuja

ate cadre and motivated staff for enhanced productivity.

According to the lawmakers, the abolished policy extensively checked the bureaucratic corruption in the civil service underpined by people who occupied the same positions for inordinately long period of time, in some cases, 15 to

20 years.

In the lead debate however, Agboola argued that the cancellation was a major setback to civil service reform and transformation necessary for cost effective, efficient and result oriented civil service system.

Besides, he said, it will make the tenure of the elite corps of

the civil service to be determined by records that are susceptible to manipulations.

The lower chamber further argued that the policy reversal represented yet another policy summersault which for decades, swept through civil service, making the system uncreative, vulnerable and politicised.

Agboola told THISDAY: â&#x20AC;&#x153;The opinion Iâ&#x20AC;&#x2122;m having is that if we have the best of you as a two-term permanent secretary or director, you should be okay; leave the service, letâ&#x20AC;&#x2122;s get you out and create more space for others. You have the eight years, so you should be able to mentor others.â&#x20AC;?

House of Representatives has condemned the June 20, 2016 abolition of the Civil Service Tenure policy by the federal government and vowed to ensure its immediate reinstatement.

The lawmakers on a resolution, have therefore mandated its Committee on Public Service Matters to ensure compliance and report back within four weeks for further legislative action.

The Association of Senior Civil Servants of Nigeria had protested the policy reversal.

However, the House resolution followed a motion sponsored by Hon. Emmanuel Kehinde Agboola (APC, Ekiti) on the need to reinstate the expunged policy.

The House expressed concerned that in spite of the far-reaching positive impacts the tenure policy has had on public service, the federal government suddenly scrapped the scheme, which stipulated two terms of four years for permanent secretaries and a single eight-year term for directors which commenced in 2009.

It stated that the tenure policy regime guided against stagnation, redundancy, facilitated career progression by ensuring L-R: Director General of Bureau of Public Enterprises (BPE), Mr. Alex A.Okoh and Minister of State for Foreign AďŹ&#x20AC;airs, Hajia Kadijat Buka vacancies especially at director- Abba Ibrahim, during the ministerâ&#x20AC;&#x2122;s working visit to the BPE in Abuja â&#x20AC;Śrecently

WITH HOPE THE BPE IS FARING WELL

Onyereri Seeks Establishment of Financial Services Commission James Emejo in Abuja The Chairman, House of Representatives Committee on Banking and Currency, Hon. Jones Chukwu Onyereri has hinted on plans to push for the establishment of Financial Services Commission (FSC) to allow both the fiscal and monetary authorities converge and get the economy out of its current poor state.

In an exclusive interview with THISDAY, he said that the National Assembly was determined to ensure the interest rate was

reduced by enacting appropriate legislations to stimulate economic growth while maintaining â&#x20AC;&#x153;very low inflation rate.â&#x20AC;? Onyereri said a private member bill on the proposed FSC was being developed to address inherent gaps in monetary and fiscal policies. He said: â&#x20AC;&#x153;Thatâ&#x20AC;&#x2122;s the only way we can work around this economy for the good of this great country. We shouldnâ&#x20AC;&#x2122;t be deceiving ourselves, they should be working in tandem- they canâ&#x20AC;&#x2122;t be sleeping on the same bed and dreaming different dreams. Thatâ&#x20AC;&#x2122;s exactly what

theyâ&#x20AC;&#x2122;re doing; to the public, it looks like theyâ&#x20AC;&#x2122;re making things work but I can tell you theyâ&#x20AC;&#x2122;re not, theyâ&#x20AC;&#x2122;re sleeping on the same bed but dreaming different dreams.â&#x20AC;&#x153;One person wonâ&#x20AC;&#x2122;t be chasing economic growth while the other person is chasing inflation, there should be a middle role approach to it and thatâ&#x20AC;&#x2122;s what the financial services commission will achieve. Because what itâ&#x20AC;&#x2122;ll help to do is the need to have all of them sit under one roof and get us out of this economic quagmire.â&#x20AC;?

He added: â&#x20AC;&#x153;Look at the high interest rate; why should we be on double digit at this time an age? Thatâ&#x20AC;&#x2122;s why nothing is working. Letâ&#x20AC;&#x2122;s not deceive ourselves thatâ&#x20AC;&#x2122;s why things are not working. Thereâ&#x20AC;&#x2122;s no how you can operate successfully as a business man or chase your SME on that very high interest rate, it wonâ&#x20AC;&#x2122;t work.â&#x20AC;?

He stressed the need for the setting up of a Financial Services Commission.

He added: â&#x20AC;&#x153;What that commission would do is to compel both the monetary and fiscal

authorities to sit under one roof and decide on what we are going to do.

Continuing, he said: â&#x20AC;&#x153;The fiscal authority on the one hand will not be talking about economic growth while the monetary authority on the other hand is talking about inflation. â&#x20AC;&#x153;And you donâ&#x20AC;&#x2122;t need any rocket science to tell you that to bring down inflation, you need to produce. If thereâ&#x20AC;&#x2122;s no production, there will be inflation because itâ&#x20AC;&#x2122;s not about demand and supply, itâ&#x20AC;&#x2122;s all about availability.â&#x20AC;?

Mining: FG Inaugurates Devt Partners, Donor Agencies Coordination Group Kasim Sumaina in Abuja Group Business Editor

Ă&#x2019;Ă&#x201C;Ă&#x2022;Ă&#x2039; Ă&#x2014;Ă&#x2039;Ă&#x2DC;äĂ?Ě&#x2039; ĂĄĂ&#x2039;Ă?Ă&#x2019;Ă&#x;Ă&#x2022;Ă&#x; AgriBusiness/Industry Editor

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Senior Correspondent

Ă&#x2039;Ă&#x2019;Ă?Ă?Ă&#x2014; Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă&#x152;Ă&#x2122;Ă&#x2013;Ă&#x; (Advertising) Correspondents

Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă?Ă&#x17D;Ă&#x; äĂ? (Aviation) Ă&#x201C;Ă&#x2DC;Ă&#x17D;Ă&#x2039; Ă&#x153;Ă&#x2122;Ă&#x2022;Ă? (Labour) Ă&#x153;Ă&#x2122;Ă&#x2014;Ă&#x2122;Ă?Ă?Ă&#x2013;Ă? Ă&#x152;Ă&#x201C;Ă&#x2122;Ă&#x17D;Ă&#x;Ă&#x2DC; (Cap Mkt) Ă&#x201D;Ă&#x201C;Ă&#x2122;Ă?Ă&#x2122;Ă&#x153; Ă&#x2013;Ă&#x201C;Ă&#x2022;Ă? (Energy) Ă&#x2039;Ă&#x2014;Ă?Ă? Ă&#x2014;Ă?Ă&#x201D;Ă&#x2122; (Nationâ&#x20AC;&#x2122;s Capital) Ă&#x152;Ă&#x201C;Ă&#x2DC;Ă&#x2DC;Ă&#x2039; Ă&#x2019;Ă&#x201C;Ă&#x2014;Ă&#x2039; (Money Mkt) Reporters

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In a bid to maximise supports of international bodies and foreign governments in ensuring sustainable growth in the mining and mineral sector, the federal government has inaugurated the Development Partner and Donor Agencies Coordination Group on Mining.

Minister of Mines and Steel Development, Dr. Kayode Fayemi, while inaugurating the group in Abuja, hinted that the forum would serve as a platform where development partners and donor agencies meet to review, coordinate and synergise their programmes with the aim of increasing the efficiency and effectiveness

of assistance provided to the mining sector.

Fayemi stated that the government was doing a lot to restore the countryâ&#x20AC;&#x2122;s lost glory in the minerals and mining sector, adding it means more than simply re-enacting the past.

According to him, â&#x20AC;&#x153;It involves improving governance, transparency and accountability, building an investor-friendly regulatory environment, making the sector more inclusive for artisanal miners and women, and so much more.â&#x20AC;? He noted: â&#x20AC;&#x153;The launching of the group will chart ways towards accelerating implementation of the roadmap and invariably the needed impact of mining on the socio-economic development

of Nigeria. â&#x20AC;&#x153;This should be a forum where partners and agencies meet to review, coordinate and synergise their programs with the aim of increasing the efficiency and effectiveness of assistance provided to the sector.â&#x20AC;? The minister stated that the government was driving a public sector-enabled and private sectorled mineral sector transformation and look forward to the support of the development community in achieving the set goals. â&#x20AC;&#x153;The Mining Roadmap was both consultative and inclusive in order to meet the mandate and secure the greatest benefits of Nigeria and its citizens. The document, he pointed out is aimed at tackling inherent challenges

in the sector and repositioning the country for a self-sustained inclusive growth. â&#x20AC;&#x153;This is with the goal of raising miningâ&#x20AC;&#x2122;s overall direct contribution to GDP from 0.34 per cent in 2015 to over 3 per cent in the next ten years. Attaining this goal is in line with the Nigerian governmentâ&#x20AC;&#x2122;s vision to develop a well-diversified economy and reduce the over-reliance on crude oil through agriculture and mining. â&#x20AC;&#x153;I should emphasise that we have domesticated the provisions of the African Mining Vision (AMV) adopted in February 2009 during the African Union Summit in the roadmapâ&#x20AC;? he added.

Fayemi highlighted the

ongoing policy reforms and achievements as well as the efforts made so far towards implementing the roadmap.

He disclosed that as the number of partners and agencies willing to support the Ministry of Mines and Steel Development continues to increase, there was need for a Development Partners and Donor Agencies Coordination Group on Mining, saying the establishment of the body was not new in the country or in development community.

Continuing: he said: â&#x20AC;&#x153;Aside the international bodies, the Minister disclosed that the ministry was also working in collaboration with some sister ministries notably Ministry of Budget and Planning,

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BUSINESSWORLD

NEWS

Accenture Sets Goal on Gender Balanced Workforce Emma Okonji Accenture, a global professional services company, providing solutions in strategy, consulting, digital, technology and operations, has announced that it will achieve a genderbalanced workforce, with 50 per cent women and 50 per cent men, by 2025. This is coming on the heels of recent research report, which shows that women account for 40 per cent of todayâ&#x20AC;&#x2122;s global workforce, among which, only 27 per cent are in leadership positions. According to the research, more women in the workplace help grow the global economy. The research explained that closing the gender gap by 50 per cent would lead to a 6 per cent increase in the global GDP. Accentureâ&#x20AC;&#x2122;s Chairman and CEO, Pierre Nanterme, who gave the assurance on genderbalanced workforce recently, said the company believed strongly that gender equality

remained essential for a highperforming, innovation-led organisation.

According to him, â&#x20AC;&#x153;Diversity makes our business stronger and more innovative and, most important, it makes the world better. With this new goal, we are sending an important message to our people and our clients that our future workforce is an equal workforce.â&#x20AC;?

Currently, Accenture has 150,000 women, nearly 40 per cent of its global workforce.

Over the past several years the company had set and achieved milestones on the path to gender equality, which include surpassing its goal to reach 40 per cent women new hires in 2016; promoting its largest percentage of women to the managing director level in 2016 to about 30 per cent; and growing its percentage of women managing directors to 25 per cent globally.

Nanterme listed some of the steps Accenture took to attract,

retain, advance and sponsor women on its path to achieving a gender balanced workforce to include; Sponsoring a global executive leadership program for the companyâ&#x20AC;&#x2122;s most senior women; Delivering on a commitment to transparency; Launching initiatives that provide women with in-demand skill; and Collaborating across business and government.

Expatiating on the listed steps, Nanterme said since its inception six years ago, approximately 80 per cent of the women in the program have been promoted or have significantly expanded their areas of responsibility.

In the area of delivering on a commitment to transparency, the chairman said the company set and published clear, measurable targets to grow its number of women, and has published its workforce demographics in many countries including the US, Canada, South Africa, Japan, India and ASEAN countries.

Bosch Strengthens Commitment to Nigerian Construction industry Raheem Akingbolu Bosch, a German multinational engineering and electronics company, has promised to work keenly with players in the nationâ&#x20AC;&#x2122;s construction industry to enhance quality work in the industry as well as increasing the brandâ&#x20AC;&#x2122;s market share in Nigeria.

This was the take home from a VIP market launch, which took place recently in Lagos with targeted demonstrations for the construction industry and introduction of a range of professional power tools which are engineered for excellence.

Country Sales Director, Mr. Frank Diermann, said the tools and machines displayed at the event meet the highest standards in speed, precision and robustness for consistent, professional work results. Over 350 tools, which are said to be environmentally friendly running on lithium ion technology, were

displayed during the event.

Diemannn said that the event was timely given the challenges of meeting the demand of implementing world-class infrastructure in accommodate the economic development of Nigeria with the added constraint of provision of housing to a growing population.

According to him, the company is focused on strengthening the relationship with the construction industry where it has a fully functional warehouse with sufficient stock of power tools for the professional on hand. He also pointed out that Bosch has an established after sales service team to support the construction industry.

Earlier, the Managing Director Bosch Nigeria Mr. Ghislain Noumbessy, had confirmed that; â&#x20AC;&#x153;Bosch Nigeria has geared a portfolio of products such as

measuring, drilling, cutting, grinding, etc. for construction, woodworking and metalworking industry, delivering high performance supporting to the industry to fulfill the demands of the developing economy.â&#x20AC;?

Noumbessy added the major significance of the VIP event was to underline the commitment of Bosch in Nigeria at building sustainable business relationship with customers, increase awareness in its solutions and products as well as to build confidence of the brand in the market. â&#x20AC;&#x153;Bosch has deployed three team members known as â&#x20AC;&#x2DC;Key User Managersâ&#x20AC;&#x2122;, two in Lagos and one in Abuja with the primary focus of identifying end user needs, supporting in day-to-day challenges of our users with a focus on after sales service. We also frequently organise PT demonstration days for tradesmen and construction usersâ&#x20AC;? Diermann stressed.

RusselSmith Unveils Junior Safety Rangers Programme As part of its corporate social responsibility (CSR), a leading indigenous integrated oilfield service company, RusselSmith Nigeria recently launched the Junior Safety Rangers Programme, a safety awareness programme aimed to teach students the basic principles of health and safety, and encourages them to spread those positive safety values among their peers and families.

The programme works by establishing Junior Safety Rangers clubs at various schools who will be periodically trained on the principles of being safety conscious in all they do.

At the launch of the first Junior Safety Rangers club, which took place at Chrisland Schools, Victoria Garden City (VGC), Lagos, the students

were taught on the ideals of becoming a safety ranger by being safety champions both at home and at school.

At the occasion, Funke Holloway, VP Organisational Performance Management, RusselSmith, noted that â&#x20AC;&#x153;the need to impact safety principles to young minds is important because they need to be safety conscious to circumvent avoidable accidents and mishaps. Safety is very important for survival and should be regularly taught in schools to enable children develop responsible attitudes towards their lives and environment.â&#x20AC;?

Mrs. Georgenia Azike, Head Teacher, Chrisland Schools, commented that â&#x20AC;&#x153;Rus-

selSmithâ&#x20AC;&#x2122;s Junior Safety Rangers Programme is a good initiative because the students have been taught everyday living tips and safety which is very important to their growth and development, thereby protecting themselves and the environment.â&#x20AC;?

In over eleven years of its operations, RusselSmith has continually blazed the trail as a leader in safety. One of such achievements is the commendable safety record of 3 million man-hours in its operations with zero Loss Time Incidents (LTI).

RusselSmith continues to deliver excellent service in its three main business divisions; Aerial Inspection Services, Topside Asset Integrity Management Services and Subsea Asset Integrity Management Services.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Business Etiquette Makes the Difference â&#x20AC;&#x201C; Part 1

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Ă&#x2039; Ă&#x2019;Ă&#x2039;Ă&#x2DC;Ă&#x17D; and say hello. Busyness is not an excuse Ă&#x17E;Ă&#x2122; Ă&#x201C;Ă&#x2018;Ă&#x2DC;Ă&#x2122;Ă&#x153;Ă? Ă&#x161;Ă?Ă&#x2122;Ă&#x161;Ă&#x2013;Ă?Ë&#x203A; Ă Ă&#x2122;Ă&#x201C;Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă? ËŤ Ă&#x201C;Ă&#x2018; ĂĄĂ&#x2122;ËŹ Ě&#x2039; Ă? Ă&#x2019;Ă&#x2039;Ă Ă? Ă&#x152;Ă&#x2013;Ă&#x;Ă&#x153;Ă&#x153;Ă?Ă&#x17D; Ă&#x2014;Ă&#x2039;Ă&#x2DC;ĂŁ Ă&#x2122;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x161;Ă?Ă&#x153;Ă?Ă&#x2122;Ă&#x2DC;Ă&#x2039;Ă&#x2013; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x161;Ă&#x153;Ă&#x2122;Ă?Ă?Ă?Ă?Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ă&#x2039;Ă&#x2013; Ă&#x2013;Ă&#x201C;Ă&#x2DC;Ă?Ă?Ë&#x153; Ă&#x152;Ă&#x;Ă&#x17E; Ă&#x161;Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă&#x17E;Ă&#x201C;Ă?Ă? Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x153;Ă?Ă&#x2013;Ă&#x201C;Ă&#x2018;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x2039;Ă&#x153;Ă? Ă?Ă&#x17E;Ă&#x201C;Ă&#x2013;Ă&#x2013; Ă&#x2122;Ă?Ă?Ě&#x2039; Ă&#x2013;Ă&#x201C;Ă&#x2014;Ă&#x201C;Ă&#x17E;Ă?Ë&#x203A; Ă&#x2019;Ă?Ă?Ă? Ă&#x17E;Ă&#x2122;Ă&#x161;Ă&#x201C;Ă?Ă? Ă&#x2039;Ă&#x153;Ă? Ă&#x2019;Ă&#x201C;Ă&#x2018;Ă&#x2019;Ă&#x2013;ĂŁ Ă?Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x2018;Ă?Ă&#x17D; Ă&#x2014;Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă&#x201C;Ă?Ă&#x2013;Ă&#x17D;Ă? Ă?Ă&#x2122;Ă&#x153; Ă&#x2039; Ă&#x161;Ă&#x153;Ă&#x2122;Ă?Ă?Ă?Ă?Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ă&#x2039;Ă&#x2013; Ă&#x2039;Ă&#x17E;Ă&#x2014;Ă&#x2122;Ă?Ă&#x161;Ă&#x2019;Ă?Ă&#x153;Ă?Ë&#x203A; Leave them at the office door. Ă? Ă&#x2122;Ă&#x2DC; Ă&#x17E;Ă&#x201C;Ă&#x2014;Ă? Ě&#x2039; Ă?ËŞĂ&#x153;Ă? Ă&#x2039;Ă&#x2013;Ă&#x2013; Ă&#x152;Ă&#x;Ă?ĂŁË&#x203A; Ă?Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x161;Ă&#x;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x;Ă&#x2039;Ă&#x2013; shows others that you value their time.

Being late doesnâ&#x20AC;&#x2122;t mean that youâ&#x20AC;&#x2122;re busier Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x2DC; Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x161;Ă?Ă&#x2122;Ă&#x161;Ă&#x2013;Ă?Ë&#x17E; Ă&#x201C;Ă&#x17E; Ă&#x201D;Ă&#x;Ă?Ă&#x17E; Ă&#x2014;Ă?Ă&#x2039;Ă&#x2DC;Ă? Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; ĂŁĂ&#x2122;Ă&#x;ËŞĂ&#x153;Ă? inconsiderate. Ă&#x2122; Ă&#x161;Ă&#x2019;Ă&#x2122;Ă&#x2DC;Ă? Ă&#x17D;Ă&#x;Ă&#x153;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2014;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ă? Ě&#x2039; Ă&#x2019;Ă?Ă&#x2DC; ĂŁĂ&#x2122;Ă&#x;ËŞĂ&#x153;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x2039; Ă&#x2014;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018;Ë&#x153; Ă?Ă&#x2122;Ă?Ă&#x;Ă? Ă&#x2122;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2014;Ă?Ă?Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17D;Ă&#x201C;Ă?Ă?Ă&#x;Ă?Ă?Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x203A; Ă&#x2122;Ă&#x2DC;ËŞĂ&#x17E; Ă&#x17E;Ă&#x2039;Ă&#x2022;Ă? Ă?Ă&#x2039;Ă&#x2013;Ă&#x2013;Ă?Ë&#x153; Ă&#x17E;Ă?âĂ&#x17E; Ă&#x2122;Ă&#x153; Ă?Ă&#x2019;Ă?Ă?Ă&#x2022; Ă?Ě&#x2039;Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013;Ë&#x203A; Ă&#x17E;ËŞĂ? Ă&#x17D;Ă&#x201C;Ă?Ă&#x153;Ă?Ă?Ă&#x161;Ă?Ă?Ă&#x17E;Ă?Ă&#x;Ă&#x2013; Ă&#x17E;Ă&#x2122; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x2039;Ă&#x17E;Ă&#x17E;Ă?Ă&#x2DC;Ă&#x17D;Ă?Ă?Ă?Ë&#x153; Ă&#x2DC;Ă&#x2122;Ă&#x17E; Ă&#x17E;Ă&#x2122; Ă&#x2014;Ă?Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC;Ë&#x153; Ă?âĂ&#x17E;Ă&#x153;Ă?Ă&#x2014;Ă?Ă&#x2013;ĂŁ annoying. It also makes meetings last Ă&#x2013;Ă&#x2122;Ă&#x2DC;Ă&#x2018;Ă?Ă&#x153; Ă&#x152;Ă?Ă?Ă&#x2039;Ă&#x;Ă?Ă? Ă&#x17E;Ă&#x2019;Ă? Ă&#x161;Ă&#x2039;Ă&#x153;Ă&#x17E;Ă&#x201C;Ă?Ă&#x201C;Ă&#x161;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ă? Ă&#x2022;Ă?Ă?Ă&#x161; losing focus. Ă&#x2122;Ă&#x2DC;ËŞĂ&#x17E; Ă&#x152;Ă? Ă&#x2039; Ă&#x152;Ă&#x;Ă?Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă? Ă?Ă&#x2039;Ă&#x153;Ă&#x17D; Ă&#x161;Ă&#x;Ă?Ă&#x2019;Ă?Ă&#x153; Ě&#x2039; Ă&#x2122;Ă&#x2DC;ËŞĂ&#x17E; Ă?Ă&#x201C;Ă&#x2014;Ă&#x161;Ă&#x2013;ĂŁ Ă&#x2019;Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2122;Ă&#x;Ă&#x17E; Ă&#x152;Ă&#x;Ă?Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă? Ă?Ă&#x2039;Ă&#x153;Ă&#x17D;Ă? Ă&#x17E;Ă&#x2122; Ă?Ă Ă?Ă&#x153;ĂŁĂ&#x2122;Ă&#x2DC;Ă? you meet. Itâ&#x20AC;&#x2122;s a bit aggressive unless youâ&#x20AC;&#x2122;re Ă&#x2122;Ă&#x2DC; Ă&#x2039; Ă?Ă&#x2039;Ă&#x2013;Ă?Ă? Ă?Ă&#x2039;Ă&#x2013;Ă&#x2013;Ë&#x203A; Ă?Ă&#x2022; Ă?Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x161;Ă?Ă&#x153;Ă?Ă&#x2122;Ă&#x2DC;ËŞĂ? Ă?Ă&#x2039;Ă&#x153;Ă&#x17D;Ë&#x153; Ă&#x2122;Ă?Ă?Ă?Ă&#x153; Ă&#x17E;Ă&#x2122; Ă?âĂ?Ă&#x2019;Ă&#x2039;Ă&#x2DC;Ă&#x2018;Ă? Ă?Ă&#x2039;Ă&#x153;Ă&#x17D;Ă? Ă&#x2122;Ă&#x153; Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă? Ă Ă?Ă&#x153;ĂŁ Ă&#x2013;Ă?Ă&#x2039;Ă?Ă&#x17E;Ë&#x153; Ă&#x2039;Ă?Ă&#x2022; Ă&#x201C;Ă? ĂŁĂ&#x2122;Ă&#x; Ă?Ă&#x2039;Ă&#x2DC; Ă&#x2013;Ă?Ă&#x2039;Ă Ă? ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2039;Ă&#x153;Ă&#x17D; Ă&#x152;Ă?Ă?Ă&#x2122;Ă&#x153;Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x153;Ă?Ă&#x2039;Ă?Ă&#x2019; Ă&#x201C;Ă&#x2DC; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă&#x161;Ă&#x2122;Ă?Ă&#x2022;Ă?Ă&#x17E;Ë&#x203A; Ă&#x2019;Ă&#x2122;ĂĄ Ă&#x2018;Ă?Ă&#x2DC;Ă&#x;Ă&#x201C;Ă&#x2DC;Ă? Ă&#x201C;Ă&#x2DC;Ă&#x17E;Ă?Ă&#x153;Ă?Ă?Ă&#x17E; Ě&#x2039; Ă?Ă?Ă&#x161; Ă?ĂŁĂ? Ă?Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x2039;Ă?Ă&#x17E; and make an effort to truly listen to what others are saying. We are so easily distracted in this climate of increasingly Ă?Ă&#x2019;Ă&#x2122;Ă&#x153;Ă&#x17E; Ă&#x2039;Ă&#x17E;Ă&#x17E;Ă?Ă&#x2DC;Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă?Ă&#x161;Ă&#x2039;Ă&#x2DC;Ă?Ë&#x17E; ĂĄĂ? Ă&#x2122;Ă?Ă&#x17E;Ă?Ă&#x2DC; Ă?Ă&#x2039;Ă&#x2DC;ËŞĂ&#x17E; ĂĄĂ&#x2039;Ă&#x201C;Ă&#x17E; Ă?Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x161;Ă?Ă&#x153;Ă?Ă&#x2122;Ă&#x2DC; Ă&#x17E;Ă&#x2122; Ă&#x2019;Ă&#x;Ă&#x153;Ă&#x153;ĂŁ Ă&#x;Ă&#x161; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x201C;Ă&#x2DC;Ă&#x201C;Ă?Ă&#x2019; so we can move on to the next thing. Resist Ă&#x17E;Ă&#x2019;Ă? Ă&#x2013;Ă&#x;Ă&#x153;Ă? Ă&#x2122;Ă? Ă&#x17D;Ă&#x201C;Ă?Ă&#x17E;Ă&#x153;Ă&#x2039;Ă?Ă&#x17E;Ă&#x201C;Ă&#x2122;Ă&#x2DC; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x2019;Ă&#x2039;Ă?Ă&#x17E;Ă?Ë&#x203A; Ă&#x2039;Ă&#x2022;Ă? Ă&#x17E;Ă&#x2019;Ă? time to ask questions and show an interest Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă?Ă&#x153; Ă&#x161;Ă?Ă&#x153;Ă?Ă&#x2122;Ă&#x2DC;ËŞĂ? Ă&#x17E;Ă&#x2019;Ă&#x2122;Ă&#x;Ă&#x2018;Ă&#x2019;Ă&#x17E;Ă?Ë&#x203A; Ă&#x2019;Ă?Ă&#x153;Ă? Ă&#x2039;Ă&#x153;Ă? Ă?Ă&#x17E;Ă&#x201C;Ă&#x2013;Ă&#x2013; Ă?Ă&#x2122; Ă&#x2014;Ă&#x2039;Ă&#x2DC;ĂŁ Ă&#x2039;Ă&#x153;Ă?Ă&#x2039;Ă? Ă&#x17E;Ă&#x2122; Ă?Ă&#x2122;Ă Ă?Ă&#x153; Ă&#x2122;Ă&#x2DC; business etiquette. We will be touching on other issues in the next few weeks. Be Ă?âĂ&#x161;Ă?Ă?Ă&#x17E;Ă&#x2039;Ă&#x2DC;Ă&#x17E;Ë Ë .â&#x20AC;&#x201C; Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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Capturing the Uncaptured With an ambitious revenue projection of over N5 trillion in the 2017 budget, the federal government has a lot to do to drag more Nigerians into the tax net, writes Obinna Chima The federal government recently disclosed that only 214 people in the entire nation pay taxes of more than N20million and all in that category are in Lagos.

Regrettably, with a tax to Gross Domestic Product (GDP) ratio of six per cent, the country is rated one of the lowest in the world.

Crucially, with an ambitious revenue projection of N5.08 trillion in this yearâ&#x20AC;&#x2122;s budget, the government would have to step up its gain to ensure that it meets its target. By implication, increasing tax revenue has to remain on the front burner, especially given lower crude oil proceeds.

In line with this drive, the government recently directed agencies not to engage in any transaction with companies and other corporate bodies that are not registered by the Corporate Affairs Commission (official body responsible for maintaining the database of registered businesses nationwide).

Although a circular to that effect said the measure was â&#x20AC;&#x153;aimed at protecting the agencies from entering contractual obligations with fake or unregistered companies,â&#x20AC;? analysts believe thereâ&#x20AC;&#x2122;s more to this, and that it has to do with taxes. â&#x20AC;&#x153;We therefore be infer that banning transactions with unregistered businesses (most of which do not pay taxes, allegedly) is among strategies channelled at widening the tax net. â&#x20AC;&#x153;Unfortunately for the government however, tax proceeds have been negatively hit by Nigeriaâ&#x20AC;&#x2122;s poor economic health,â&#x20AC;? Lagos-based CSL Stockbrokers Limited stated.

That said, there may still be room for modest optimism. The strong increase in taxpayers suggests that tax collection efficiencies have improved significantly.

In addition, a pickup in economic activities seems to be around the corner.

However, there is need for the government to work towards formalising the informal sector.

Efforts to Boost Compliance As part of efforts to encourage compliance, the Minister of Finance, Mrs. Kemi Adeosun recently said the federal government might adopt name-and-shame strategy to expose tax defaulters in the country.

Adeosun however, said that the government does not intend to introduce new taxes, saying the government would in the coming days enforce compliance aggressively.

Adeosun further said the federal government will have to step on big toes to block tax revenue leakages and illicit flow of funds out of the country. She explained: â&#x20AC;&#x153;We have just 40 million active tax payers out of an estimated 69.9 million who are economically active in Nigeria. â&#x20AC;&#x153;Among those who are even paying tax, there is widespread malpractice that results in only part of the actual income being subjected to tax. These practices harm Nigerians and must stop.â&#x20AC;?

She said: â&#x20AC;&#x153;We have a lot of work to do if we are going to build a sustainable revenue base that we deliver the growth we desire. Even within our tax-paying community, only 214 people in the entire nation pay tax of N120m in spite of having some of the richest people in Africa and some of the best-capitalised companies in Africa; only 214 in the entire country, all of which are in Lagos State.â&#x20AC;?

Adeosun maintained that the issue of tax evasion must be addressed aggressively for the country to grow. â&#x20AC;&#x153;And to do so, we will have step on some big toes, and we will need to step on them hard. But we really have no choice. For the size of government we have, the size of country we have and the needs we have, government revenue is simply too low,â&#x20AC;? she added.

In addition, the federal government launched a tax enlightenment campaign to canvass tax payments at mosques, churches, markets and other public places.

Speaking at the launch of the scheme, Adeosun said the project would engage 7500

Acting President, Yemi Osinbajo

young Nigerians through the N-Power portal.

Furthermore, she said that the target is to increase the tax payers to about 17 million in the next two years from the current level of 14 million, equivalent to 35 per cent increase.

However, Taxaide, a firm focused on tax management urged the federal government and the Federal Inland Revenue Service (FIRS) to focus on home grown technologies that understand the peculiarities of the Nigerian tax system and essentially designed as services and not as one-size-fits-all product.

Also, Manager, Tax, Regulatory and people Services, KPMG, Chinedu Ezomike, noted that a sustainable way of ensuring steady revenue flow for the government is to put in place an effective and efficient tax system which will enhance the efficiency of the tax collection process and encourage voluntary compliance by taxpayers who are currently non-complaint.

This, he said is in line with the cardinal principles of taxation which encourage ease of compliance and efficiency of collection. Such a system will, in effect, ensure that taxation becomes the â&#x20AC;&#x153;new crude oilâ&#x20AC;? as far as funding government expenditure is concerned.

On her part, the Managing Director and Chief Executive Officer of FSDH Merchant Bank Limited, Mrs. Hamda Ambah called on the federal and state governments to immediately reform tax administration in the country in order to encourage local and foreign investors to invest in the country.

Ambah, who described the current process as burdensome, said the federal and state government must reform tax auditing and inspections in a way that does not encourage corruption.

According to her, â&#x20AC;&#x153;Taxation in Nigeria is really unbearable; I am not suggesting that people should not be paying tax. I am suggesting that the systems should be streamlined and it must be done in a way that it does not actively encourage corruption. â&#x20AC;&#x153;Financial institutions are more burdened by the tax system in Nigeria because of the number of tax inspections that we have to go through.

I also appreciate the need for government to ensure that things can be done properly.â&#x20AC;?

Capturing the Uncaptured The sector, which is also referred to as â&#x20AC;&#x2DC;grey economyâ&#x20AC;&#x2122; is the part of an economy that is neither taxed, nor monitored by any form of government. Unlike the formal economy, activities of the informal economy are not included in the gross national product (GNP) and Gross

Adeosun

Domestic Product (GDP) of a country.

The informal sector generally is characterised by absence of official protection and recognition, non-coverage by minimum wage legislation and social security system, predominance of own-account and self-employment work, absence of trade union organisation, low income and wages, little job security as well as the absence of fringe benefits from institutional sources.

The informal sector represents an important part of the economy, and particularly of the labour market, in many countries, especially developing countries, and plays a major role in employment creation, production and income generation.

Indeed, in countries with high rates of population growth or urbanisation like Nigeria, the informal sector tends to absorb most of the growing labour force in the urban areas.

Informal sector employment is a necessary survival strategy in countries that lack social safety nets such as unemployment insurance, or where wages and pensions are too low to cover the cost of living.

According to the Africa Development Bank (AfDB), the prominence of the informal sector stems from the opportunities it offers to the most vulnerable populations such as the poorest, women and youth.

Even though the informal sector is an opportunity for generating reasonable incomes for many people, most informal workers are without secure income, employments benefits and social protection, the multilateral institution noted. This explains why informality often overlaps with poverty. For instance, in countries where informality is decreasing, the number of working poor is also decreasing and vice versa. Beyond poverty and social issues, the prevalence of informal activities is closely related to an environment characterised by weaknesses in three institutional areas, namely taxation, regulation and private property rights.

Considering Nigeriaâ&#x20AC;&#x2122;s present economic situation, a report by the Chatham House, the Royal Institute of International Affairs had stressed the need for reforms by government that could encourage millions of businesses in the nationâ&#x20AC;&#x2122;s informal sector to move into the formal sector. This, according to the report would provide clear opportunity for diverse business growth in Nigeria and also ensure greater regional self-sufficiency in areas such as grains and cotton textiles in West Africa.

Clearly, the London-based independent

policy institute, in the report titled: â&#x20AC;&#x153;Nigeriaâ&#x20AC;&#x2122;s Booming Borders -The Drivers and Consequences of Unrecorded Trade,â&#x20AC;? revealed that despite the size of Nigeriaâ&#x20AC;&#x2122;s Gross Domestic Product (GDP), estimated at $510 billion, vast external trade in the country remains largely informal, unrecorded and untaxed. This, it stressed leaves much of the countryâ&#x20AC;&#x2122;s economic potential unrealised.

It pointed out that a substantial proportion of Nigeriaâ&#x20AC;&#x2122;s cross-border trade currently flows through informal channels, adding that there are strong indications that unrecorded flows through the key economic corridors between Nigeria and its neighbours are several times greater in volume than the amount of trade that is officially reported.

This, it noted, also reflected the scale of domestic informal business within Nigeria, just as it estimated that unrecorded or informal activity could account for as much as 64 per cent of Nigeriaâ&#x20AC;&#x2122;s GDP. To Dr. Kim Bettcher of the Center for International Private Enterprise (CIPE), informal businesses account for 35-50 per cent of GDP in a lot of developing countries. According to him, the sector contains both entrepreneurial spirit and the struggle for subsistence in any nation.

He argued that the solution is neither to encourage nor suppress informal economic activity, but rather to facilitate the transition of informal businesses to the formal sector and reduce barriers for all businesses(formal and informal). â&#x20AC;&#x153;Opening routes to formality creates new opportunities for the poor to realise their potential and raise national competitiveness. Acquiring formal status allows entrepreneurs to access formal markets, invest with security, obtain new sources of credit, and defend their rights. â&#x20AC;&#x153;An effective route to formality, however, requires more than registration and enforcement.

It requires the tearing down of barriers at the origin of informality to improve the business climate for all entrepreneurs. Lowering barriers increases business opportunities while facilitating compliance. â&#x20AC;&#x153;Simply put, informal entrepreneurs have tremendous potential, but in order for them to realise that potential they must be allowed to make the shift into the modern market economy. This will give the same opportunities to all entrepreneurs and create higher-quality new jobs,â&#x20AC;? he wrote in a report. Also, the President, Chartered Institute of Bankers of Nigeria (CIBN), Prof. Segun Ajibola, said formalising the informal sector would help boost governmentâ&#x20AC;&#x2122;s revenue generation capacity.

Clearly, taxing the informal sector can be through registration and formalisation to push these firms and individuals into the tax net.

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BUSINESSWORLD

ANALYSIS

The Sukuk Investment Opportunity The N100 billion Sukuk, a non-interest bond that is being issued by the federal government is another opportunity for investors to earn returns and contribute to the infrastructure development of the country, writes Goddy Egene Since the fall in price of crude oil, the revenue of the federal government has been affected significantly given that oil was a major source of government funds. As a result of the decline in revenue, the government has been contending with the challenge of financing its budget deficit.

And the onus for the efficient management of governmentâ&#x20AC;&#x2122;s debt and sourcing for funds to finance budget deficits rests on the Debt Management Office (DMO).

However, the agency, under the management of Dr. Abraham Nwankwo, has been using innovative strategies to raise funds to successfully fund the budget deficits over the years.

While DMO has been raising funds through bonds both on the domestic and international markets, the agency is now accessing the local market for N100 billion through Sukuk. This is the first time the federal government is taking this option to raise funds and it has been seen as another innovation from the DMO. It will open on June 28, 2017.

Sukuk is an Islamic bond, structured in such a way as to generate returns to investors without infringing Islamic law that prohibits riba or interest. Sukuk is said to be â&#x20AC;&#x2DC;Shariah compliantâ&#x20AC;&#x2122; because it eliminates the interest elements that are associated with a conventional bond.

Analysts have said that the Sukuk is yet another debt offering from Nigeria, who has been looking for all possible ways of funding her deficit budget and triggering the revival of its economy.

Understanding the N100bn Sukuk Issue The DMO last week said the Sukuk, which is the first for the country, is a 7-year tenor debt instrument and will go on sale from June 28, 2017, for three days via book building. It will be traded on the Nigerian Stock Exchange (NSE) and the FMDQ Securities Exchange OTC platform.

The bond will target retail and institutional investors and First Bank and Islamic wealth manager Lotus Capital will act as managers for the sale. Minimum subscription amount is N10,000.00 with multiples of N1,000.00 thereafter.

According to DMO, as part of its Strategic Plan, 2013-2017, it has the objective of developing alternative sources of raising finance for development and attracting a wider pool of investors. â&#x20AC;&#x153;One of these is the issuance of a sovereign non-interest financing products (Sukuk) in the domestic debt market would not only serve as an alternative source of financing for the government, it would facilitate the mobilisation of idle funds and more efficient allocation of scare resources within the economy.

The introduction of Sukuk is not only seen as a means of raising investible capital for the government and promotion of greater financial inclusion but as a part of the plan to fast track the development of infrastructure and engage in purposeful and project-tied capital raising,â&#x20AC;?

DMO said.

On the benefits to investors, they will earn rentals/profits income will be paid half-yearly directly into Sukuk holderâ&#x20AC;&#x2122;s account. The bond is also a good investment opportunity towards retirement and future projects.

According to some market operators, the Sukuk is a good move that portrays DMO as giving investment opportunities to all Nigerians irrespective of the religion. While it is said that other bonds issued by the government, have been mostly patronised non-Muslims who, the Sukuk will cater for the interest of Muslims.

It is believed that with this move by the government, the country is seeking to utilise its large Muslim population to garner capital to fund part of the deficit in the recently signed 2017 budget. Nigeria is home to the largest Muslim population in the sub-Saharan Africa, with also one of Africaâ&#x20AC;&#x2122;s fastest-growing corporate banking sector and consumer population.

Booming Sukuk Market The likely success of the N100 billion Sukuk may not be an issue considering the huge booming international market for the product.

Besides, Osun State, which issued N10 billion

Nwankwo

Sukuk in 2013 had a successful outing as it was 120 per cent subscribed. Historically, the first Sukuk, worth RM125 million, was issued in 1990 by Shell MDS in Malaysia. The market experienced rapid growth culminating in the first issuance of Sukuk in the international markets when the Central Bank of Bahrain issued the first US-dollar denominated Sukuk worth $100 million.

Currently, Sukuk issuances across the globe stand at about $120 billion, up from just $15 billion in 2008. In June 2014, the United Kingdom became the first country outside of the Islamic world to issue a sovereign Sukuk, highlighting the growing importance of this innovative financial instrument across the world.

In that debut issuance, the UK government raised ÂŁ200 million to build residential buildings.

Other countries outside the Islamic world that have issued Sukuk over the last two years include Hong Kong, Senegal, South Africa and Luxemburg. The five largest Islamic finance markets in the world â&#x20AC;&#x201C; Malaysia, Saudi Arabia, UAE, Kuwait and Qatar â&#x20AC;&#x201C; continue to account for over 90 per cent of global Sukuk issuances.

By the end of 2015, total assets under management in the global Islamic finance industry surpassed $2.5 trillion as more and more investors continue allocating their funds to Shariah compliant instruments across the globe. There is therefore a huge, unmet demand for Sukuk issuances from high-potential economies like Nigeria, especially in view of the fact that similar issues by peer countries were oversubscribed.

SEC, DMO Collaboration The issuance of the first sovereign Sukuk is a result of collaborative efforts of DMO and the Securities and Exchange Commission (SEC).

Before now, Nwankwo and the DG of SEC, Mounir Gwarzo had pledged to partner to ensure a deeper bond market including non-interest products such as Sukuk.

For instance, Nwankwo stressed the importance of non-interest products, explaining that a sovereign Sukuk issuance had been part of the institutionâ&#x20AC;&#x2122;s strategic plan designed four years ago.

Gwarzo

He had therefore solicited support from the SEC, especially in the area of capacity building in order to realise the goal of issuing Nigeriaâ&#x20AC;&#x2122;s first sovereign sukukthis year.

On his part, Gwarzo assured the DMO of the commissionâ&#x20AC;&#x2122;s continued support, while pledging to take measures that would help enhance the capacity of relevant staff of the DMO. He said: â&#x20AC;&#x153;Within the context of continued decline in the prices of crude oil in the international markets, attendant drop in both foreign exchange and government revenues as well as fragility of growth from major emerging markets like China, the need for alternative sources of capital to finance infrastructure becomes increasingly more compelling. Both government agencies therefore agreed on the urgent need to begin mobilising capital in order to address the nationâ&#x20AC;&#x2122;s investment needs. Particularly, issuing a sovereign Sukuk will attract significant amounts of affordable capital from the Gulf countries and other established Islamic markets around the world into Nigeria.â&#x20AC;?

As Nwankwo Quits DMO Nwankwo, who became DG of DMO in 2007, will be leaving office at the end of June and the Sukuk issuance is seen as his parting gift. However, he would be remembered for many achievements the agency recorded during his tenure.

Given his solid academic background and position as one of the pioneer management staff of DMO, Nwankwo led the charge in the transformation of the capital market and played a pivotal role in the repositioning, strengthening and resuscitation of the FGN Bond market.

The DMO formulated a National Debt Management Framework (NDMF), 2008-2012, a review of same and publication of the revised (2nd) NDMF, 2013-2017 which incorporated debt management policies and guidelines. The agency has ensured regular and timely servicing of governmentâ&#x20AC;&#x2122;s debt has ontinued to conduct an annual Debt Sustainability Analysis (DSA) and has successfully prepared a Medium Term Debt Management Strategy (MTDS), 2012-2015

which is being implemented.

One of the major objectives of MTDS is to achieve optimal composition of external and domestic debt structure and to ensure low cost of government debt consistent with a prudent level of risk.

DMO has consistently promoted policies to encourage the creation of opportunities for private sector access to long term capital in both domestic and international capital markets in order to sustain and expand their businesses.

Determined to facilitate access to the international capital market for Nigerian corporate players, DMO issued $500 million Sovereign Eurobond in 2011. This was followed with $1 billion dual-tranche Eurobonds in July 2013, thus creating benchmarks for corporate borrowers.

In 2014, DMO issued FGN Bonds in Global Depository Note (GDN) format for the first time aimed at diversifying the investor base and attract foreign investors to the domestic securities Market.

Besides, DMO developed a template for the establishment of Debt Management Departments (DMDs) which include outline of the legal institutional human resource framework.

All the 36 states including the federal capital territory (FCT) have established DMDs) in conjunction with the agency.

Also DMO assisted in the managing and restructuring of the debt of cash strapped states in the country as a result of their failure to meet their financial obligations. Following the announcement of a bailout package for the states by President Muhammadu Buhari, 22 states applied to DMO for their debts to be re-structured into Federal Government of Nigeria Bonds. The agency successfully concluded the restructuring of N322.788 billion short term commercial bank debts of 11 states out of the 22 states to long term domestic bond at 14.83 percent yield in 20 years.

Just recently, DMO introduced the FGN Savings Bond targeted at retail investors and now the Sukuk. It is a consensus among analysts that whoever will succeed Nwankwo needs to work to sustain and improve on DMOâ&#x20AC;&#x2122;s achievements under his leadership.

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BUSINESSWORLD

INTERVIEW

Agidi: Govt Agencies Must Live Up to Their Responsibilities Managing Director of Chutzpah International Limited, a firm that manufactures office and other furniture, Ms. Angela Agidi, in this interview with Nume Ekeghe, called on all government agencies to ensure that they pursue policies that do not discourage manufacturers. Excerpts: Could please give some insight into your companyâ&#x20AC;&#x2122;s operation, what you do?

We are a group of companies and we manufacture furniture since 1999 or before that, but it was registered in 2001 formally.

We were importing before the ban came up, we were importing furniture, but for us, importing at that time wasnâ&#x20AC;&#x2122;t really to import full sets of furniture. It was to use what we could get which were top quality parts from Europe and bring them in here and use them with our own local raw materials and set up something. So we always had a vision that we would be manufacturing from scratch here. It has been a bit of a battle. But we are now manufacturing from scratch. We are the first in Africa to be able to manufacture from scratch especially office furniture by way of the swivel chairs. We manufacture the component of swivel chairs. We manufacture and assemble. So we have a manufacturing plant and we have an assembling plant.

When people were importing furniture especially office furniture, the same parts they were importing, we now manufacture in Nigeria.

Are you into only ofďŹ ce furniture?

We do a bit of home furniture; when you talk of kitchen, doors, we also have a sister company that does the sanitary wears, we do bathroom and all round home furniture.

Has there been any major challenge in your business?

I think we all know what the situations are in the country. For starters, the foreign exchange jumping from what it was- N198 to N500 to a dollar. So that whole period was terribly unstable. We had people in the industry that left the country while some just shut down.

But at that point in time, because we had already embarked on the manufacturing line and had gotten our machines, we were a bit lucky because that would have affected us even more. Initially also, we had problems of getting the foreign exchange to conclude the final parts of our project, but it has been resolved. With LC application, because my bank is quite a good bank, we were able to get the LC out on time and also helped ensure that things worked smoothly with the LC. But other than that, the exchange rate then was killing and it still is, because no matter what, you want to make things affordable for your customers and all that.

Now that the exchange rate situation has improved, isnâ&#x20AC;&#x2122;t that a good sign for business and businesses in general?

It is better than it was before, but it is not so great. But we would work with it and I think people are getting used to it otherwise it is not so great at all.

With the machines you acquired, are you now able to produce everything from scratch? You can produce 90 per cent from scratch of a normal ofďŹ ce chair.

The fraction you need to import, are there still difďŹ culties accessing foreign exchange?

Yes, you still get push back from Customs especially, it is terrible. Even though you have the permits to bring in your accessories, you still get push backs. There is always one hurdle or another. Manufacturers are really going through a tough time and also traders who make this economy grow. It has been a battle and struggle; sometimes we feel like we should leave this business and do something else, but because this is something we have worked really hard on.

For us it is more of a challenge insisting we are going to do this no matter what.

You said earlier that some of your competitors in your ďŹ eld left the business

Agidi

due to some hurdles, how have you been able to sustain your business and also how do you want the government to help ease the hurdles in your sub-sector?

For starters, we know that there are a number of bad actors in the country in general, it

Manufacturers are really going through a tough time and also traders who make this economy grow. It has been a battle and struggle; sometimes we feel like we should leave this business and do something else, but because this is something we have worked really hard on.

For us it is more of a challenge insisting we are going to do this no matter what

is not just in the manufacturing sector. If you say you are encouraging manufacturers, you should really encourage the industries, people and entrepreneurs that are going to make the economy grow. For instance, make it easier for people who need raw materials, let them bring them in. Let it not become such a hurdle to overcome. It is like every step you take, there is one hurdle after the other.

I think the government should make it a lot easier for us so that we can be creative.

If we are spending all our time to overcome different sorts of hurdles they put on the roadside for us, what time would we have to be creative as entrepreneurs and industry movers?

Government needs to make sure all their agencies are aligned and are on the same page, so that you donâ&#x20AC;&#x2122;t have to go to one agency and they tell you one thing and another contradicts. There should be a streamline process whereby people that want to manufacture or work would go through, not going from one problem to another.

Are your prices competitive with imported furniture?

Yes, they are cheaper. They are at least 20 per cent cheaper than the European imported ones which is the standard we are using, not the Chinese ones, which are quite cheap.

For the Chinese imports that are cheap, would you urge government to ban or

make it hard for them to come into the country?

Not really, I wouldnâ&#x20AC;&#x2122;t say that. I would maintain that the agencies need to do what they are supposed to do by not making it difficult for us, but making it difficult for people to bring in sub-standard goods. If the standards are good, then you have level playing field then you can compete. We are very confident in our products so we know it can compete anywhere in the world because we have a European standard. I donâ&#x20AC;&#x2122;t want to be referring to Europe as far as I am concerned, we should be calling it an African standard.

It is a good standard and we have all the raw materials. One of the things I must say is that one of the major raw materials for what we are manufacturing is pretty difficult to get here. However, I am not one of the people telling government to ban anything.

But the people that are manufacturing the raw material, the resins that we use, have apparently gotten a monopoly in our own country. So they increase their prices at will and we just have to pay. That makes the business fluctuates and it affects the bottom-line at the end of the day. So they come in and dictate the prices and the government agencies are not monitoring them. But they would monitor and go after Nigerian entrepreneurs and make it so difficult for us to do what we need to do whereas they give the foreigners all the concession that they need and arbitrary increase prices constantly.

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Insurance Experts Caution Airline Operators against Foreign Premium Ratings Stories by Ebere Nwoji Aviation Insurance experts have said airline operators in Nigeria should stop benchmarking their premium rates with those of Nigerian neighbours like South Africa, London and other western countries arguing that safety culture in Nigera is very poor when compared with those of other countries.

The aviation insurance experts, spoke against complaints by Nigerian airline operators that aviation insurance operators in Nigeria charge high insurance premium whereas their counterparts in other counties charge lower rates.

The airline operators spoke while answering questions

from insurance journalists on why some of them violate the federal governmentâ&#x20AC;&#x2122;s local content law which requires them to cede their businesses to indigenous insurance firms and get clearance from the National Insurance Commission (NAICOM) before taking their business surplus abroad.

A member of the Airline operators of Nigeria (AON) who spoke in this regard said that some of their members sneak abroad to buy their insurance policy despite the local content law because insurance rate in Nigeria is very high and operators are looking for ways of cutting cost.

The operator, who however said his statement did not mean his airline insures abroad, said

Nigerian insurers, should look for ways of reducing their rates to encourage those who sneak abroad for their insurance needs to patronise them.

But in a swift reaction to this, Chairman Nigeria Insurers Association (NIA), the umbrella body of insurance underwriters in Nigeria Eddie Efekoha, in a recent interview with THISDAY in his office said there is no basis of comparison between Nigerian aviation insurance providers and their foreign counterparts because the level of risk exposures of both differs.

According to him, countriesâ&#x20AC;&#x2122; risks differ. â&#x20AC;&#x153;All these aviation operators over there, do they pay premium on monthly or daily basis and

when you get to the airport, look at our airports, with all the touts and what have you so everything is wrong with it so the rates cannot but be high. When we get our things right, the premium can reduce.

Of course size is an issue. You are generating a premium for instance that cannot buy one plane but like the likes of BA, their premium can buy three Planes. So size is an issue,â&#x20AC;? he explained.

Continuing, the NIA boss stated:â&#x20AC;? You find out that we have multiplicity of problems when it comes to aviation insurance in Nigeria and you must take all of these into account in your rating. What is rating? First of all, it starts

with underwriting; look at the good features and look at the bad features and all these help you to determine your average rate, The good ones will help you to determine your discount rate, the bad ones will help you to blow the rates in order to come with the rates that apply to that particular risk.

He added: â&#x20AC;&#x153;When you bring all of these into specific operators, you then look at their managements. We had issues; I donâ&#x20AC;&#x2122;t have to name them. Number one, airline has problem; and when there are financial problems, what happens; what do you do, you begin to cut corners. So, what do you expect the rates to be?

Do you expect the rates to be lowest compared with emirate, or

compare with BA, who are they comparing with? Emirates that had a fleet of almost a thousand or if you want to compare them, the largest we had in Nigeria before was about 28, today, the largest is not more than 15 .Is that what you want to compare is it up to fleet an individual will own in America. So there is no basis of comparison.â&#x20AC;?

Speaking, Managing Director, Boof Africa Insurance Brokers, Olumide Fatagun, said there is general poor attitude of airline operators towards insurance premium payment.

He said apart from the issue of insuring abroad due to high premium rate, most aircraft flying in this country are probably flying without cover.

Cornerstone Insurance Set to Reap Gains of Fin Insurance Acquisition Ebere Nwoji With the completion of the acquisition of Fin Insurance by the Cornerstone Insurance Plc, the companyâ&#x20AC;&#x2122;s board and investors have expressed optimism that the deal will, effect from next financial period, return the company to profitability as a result of complimentary values created by the new partnership in the areas of distribution channels, geographical spread and product opportunities among other values.

Cornerstone Insurance, also stated that the partnership deal, conceived in 2013 and concluded at the 22nd annual general meeting (AGM) of the company held in Lagos, would provide a significant boost in its balance sheet.

Making these projections at the 22nd AGM of the company held in Lagos, Cornerstone Insurance Chairman, Adedotun Suleiman, said: â&#x20AC;&#x153;Our partner, Fin Insurance Company Limited, creates complimentary values in such areas as distribution channels, geographical spread and product opportunities, among others.

Sulaiman, at the meeting, successfully secured the nod of the companyâ&#x20AC;&#x2122;s shareholders to acquire 3.3 billion ordinary shares of FIN Insurance, which will make Cornerstone 100 percent owners of the company.

He noted that insurance sector operators have remained fragmented and there has been need for consolidation of the Nigerian insurance industry to fast track building scale and capacity.

He said this explained why Cornerstone Insurance concentrated efforts since 2013 to acquire Fin insurance to build a more robust entity. â&#x20AC;&#x153;We have identified a company with complimentary attributes and values and at this meeting therefore ask for your approval to proceed with the

business combinationâ&#x20AC;?, he said.

According to him, â&#x20AC;&#x153;Cornerstone continued to make strides in the execution of its five year strategic plan particularly in the area of retail distribution and Islamic insurance using its Takaful window. â&#x20AC;&#x153;We are achieving this by forming value-adding and innovative partnerships and alliances across different sectors.â&#x20AC;?

Announcing the companyâ&#x20AC;&#x2122;s performance for the year ended December 31, 2016, Suleiman said that despite the harsh economic environment, the company, had sustained its growth trajectory by increasing its gross premium written by 25 percent, from N7.3 billion in 2015 to N9.1 billion in 2016.

Giving the breakdown of the companyâ&#x20AC;&#x2122;s activities that led to this achievement, Suleiman, said sales from retail customers of the company accounted for 25 percent of the premium while special risk products to the oil and gas and engineering sectors contributed the second highest proportion of 23 percent.

He however expressed the regret that high claims, inflation and the security challenges in the North East and South- South Zones of the country led to a significant deterioration in the companyâ&#x20AC;&#x2122;s claims experience during the period. â&#x20AC;&#x153;Gross Claims for the year, total led N4.5 billion representing an increase of 61 percent from the previous yearâ&#x20AC;&#x2122;s figure of N2.8 billion driven largely by deaths claims from the group life, credit life and third party motor classes of insuranceâ&#x20AC;?, he stated.

The Cornerstone Insurance boss, however, said despite the modest growth in revenue achieved by the company, the combined effects of the harsh macroeconomic environment, high claims cost, rising inflation and benign investment income, led to a reported loss before tax of N1.26 billion by the company.

PROMOTING DIGITAL PAYMENT

R-L: Deputy Governor, Central Bank of Nigeria, Mr. Adebayo Adelabu; Director, Intermarc Consulting, Malam Baba Hamidu and Managing Partner, Intermarc Consulting, Mr. Adeyinka Adeyemi, at the Digital Pay Expo, organised by Intermarc Consulting in Lagos... recently

Insurance Brokers Tasked on Strategies for Consistent Policies The Nigerian Council of Registered Insurance Brokers (NCRIB), has been charged to evolve strategies that will enhance policy consistency and sustainability in the insurance sub sector of the economy.

The Cross River State Governor, Professor Benedict Ayade, who gave the charge, while declaring open the 2017 Chief Executive Officersâ&#x20AC;&#x2122; Retreat of the Council held in Calabar Cross River State, said policy consistency was the key to multi-sectoral development of the Nigerian economy. â&#x20AC;&#x153;As decision makers and managers of critical sectors of our national economy, I charge the Council to come up with strategies that will enhance policy consistency and sustainability in the insurance sub sector as this is the key to multi-sectoral developmentâ&#x20AC;?, the governor said.

He also urged the Council to come up with workable and more proactive measures that

would tackle the many problems militating against the insurance sector.

Ayade assured the brokers that as a state that is propelled by the spirit of enterprise, the state government would establish partnership with the NCRIB, to ensure the attainment of set objectives.

The governor, who was represented by the Secretary to the State Government, Barrister Tina Agbor, underscored the understanding of the state government about the critical importance of insurance to all the stateâ&#x20AC;&#x2122;s developmental goals. â&#x20AC;&#x153;We fully understand the critical importance of insurance to all of our developmental goals and while creating the enabling environment for businesses and other forms of investment to thrive, we shall key in appropriately by taking up insurance policies to cover our investments across

the stateâ&#x20AC;?, he added.

Also speaking at the retreat, the Commissioner for Insurance, Alhaji Mohammed Kari, enjoined the NCRIB Council to use the opportunity of the retreat to brainstorm on the workable modalities to tackle the issue of poor acceptance of insurance products among the Nigerian populace.

According to him, the National Insurance Commission (NAICOM) and NCRIB are partners in ensuring insurance penetration, decrying the general attitude of Nigerians to insurance products, especially the six compulsory insurance products.

The Commissioner, who was represented by the Deputy Commissioner for Insurance, Technical, Mr. Sunday Thomas urged Insurance Brokers to improve on service delivery to reduce existing gap by creating additional intermediaries to complement the existing ones,

whose interest have been put into consideration in the guidelines to be released.

According to him, the Commission, would partner with Cross River State Government and other State Government of the federation to ensure enforcement of compulsory insurances, stressing that NAICOM would appreciate contributions on how to move the industry forward.

In his address, President of the Council, Mr. Kayode Okunoren, noted that the choice of the retreat theme, â&#x20AC;&#x2DC;Possibilities!

Possibilities! Possibilities!â&#x20AC;&#x2122; was apt and deliberate in view of the challenges facing the nation and its economy.

Okunoren said that the indices available revealed that the nationâ&#x20AC;&#x2122;s economy was gradually coming out of recession stressing that the current Nigeriaâ&#x20AC;&#x2122;s state of economy which had been described as the most severe downturn in the last 25 years has past the worst.

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T H I S D AY WEDNESDAY JUNE 21, 2017

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EDUCATION Seeking an End to LASPOTECH Crisis With the indefinite strike action embarked on by the Staff Unions of the Lagos State Polytechnic (LASPOTECH), stakeholders are appealing to the governor to ensure that the administration gives peace a chance and honour all the various agreements reached with the unions in the interest of industrial harmony so that students can resume classes. Funmi Ogundare reports There seems to be no end in sight yet to the indefinite strike action embarked upon by the three Staff Unions of the Lagos State Polytechnic(LASPOTECH); the Academic Staff Union of Polytechnics (ASUP), Senior Staff Association of Nigerian Polytechnics (SSANIP) and Non-Academic Staff Union (NASU) who have been at loggerheads with the Rector, Mr. Oluyinka Sogunro.

The unions had embarked on an industrial action basically on the issue of CONTISS 15 Migration arrears for staff, while attributing it to the end result of the rectorâ&#x20AC;&#x2122;s misadministration and insensitivity to the issues that affect their welfare in the polytechnic community.

They alleged that his administration reneged on the previous tripartite agreement reached on March 7 this year, by the administration, governing council, officials of Ministry of Education, as well as the staff unions of the polytechnic, to commence the payment of CONTISS 15 migration arrears before its 25th convocation ceremony, held on March 9.

The unions had also reached an agreement with the polytechnicâ&#x20AC;&#x2122;s governing council on May 25 , giving a 21-day window for the payment of CONTISS 15 Migration arrears and the resolution of other issues of which the polytechnic administration and the governing council reneged upon.

The Chairman of the Academic Staff Union of the Polytechnic(ASUP), Comrade Akinrinlola Ibitoye in a statement said, â&#x20AC;&#x153; at the congress held on April 20, 2017, the Deputy Rector(Academic) who represented the rector at the meeting, said that â&#x20AC;&#x2DC; the administration had saved N343,000,000, only as at April, 2017 and are only waiting for the approval of the government to commence implementation.â&#x20AC;&#x2122; This amount could pay 16 months arrears at the first instance. â&#x20AC;&#x153;The union is however aware that the approval of the council is enough for the payment of the arrears since it could be paid from the funds within the coffers of the polytechnic. The union is at a loss on why the officials of the ministry who were party to the tripartite agreement on March 7, 2017 are now singing a different tune.

The union is also disappointed that officers of the ministry which we hold in the high esteem and respect cannot keep to an agreement mutually agreed to by the three parties. The unilateral decision of the officials of the ministry to pay only six months of arrears is against the earlier agreement.â&#x20AC;?

The union had expressed disappointment over the constant violation of law establishing the polytechnic saying that it is not allowing its governing council to function effectively as a result of perceived connivance between the polytechnic administration and the officials of the ministry.

The authority and the power of the governing council, the union stated, consist of a broad spectrum of stakeholders, inclusive officials of ministry clearly spelt out in the polytechnic enabling Law of 2012; Section 4, Subsections 1 and 2; that there is established for the polytechnic a Governing Council (referred to in this law as the council) which shall be the governing authority and be charged with the general control of the policy, finance and property of the polytechnic. â&#x20AC;&#x153;And the council shall manage the affairs of the polytechnic in such a manner as it deems fit to promote the interest, objectives and functions of the polytechnicâ&#x20AC;&#x2122;. â&#x20AC;&#x153;That the council shall regulate the salaries/ emolument and determine the condition of service of all staff employed by the polytechnicâ&#x20AC;&#x2122;, and the council shall regulate the salaries/emolument and determine the conditions of service of all staff employed by the polytechnic according to Section 8 Subsection (n). â&#x20AC;?

It is as if the laws were violated , as the union observed with dismay that, â&#x20AC;&#x153; the polytechnic

Front view of LASPOTECH gate

administration recently procured arms and ammunitions to the tune of over N10,000,000 and also hired within the institution â&#x20AC;&#x2DC;AWOLâ&#x20AC;&#x2122; (Absent Without Leave) /armed soldiers numbering over 50 and member of the Oodua Peopleâ&#x20AC;&#x2122;s Congress (OPC) numbering over twenty 20 with charms and amulets, after the industrial unrest of October, 2016. â&#x20AC;&#x153;We believe that the state security is unaware of such development which to say the least, could lead to breakdown of law and order, loss of life and property. Despite the militarisation of the school, life and property are still not safe.

For instance; the electric armoured cable close to the third gate of the institution was stolen twice, Konsult, procurement and Alumni offices were burgled. â&#x20AC;&#x153;The office of the School of Part Time Studies Evening (SPTSE) burgled with millions of naira both in cash and property carted away.

Smoking of Indian hemp beside the office of Chief Security Officer (CSO) is also a common scene. The above ugly incidents leave one to wonder the essence of the engagement of these so called security officers. The union pleads that these â&#x20AC;&#x2DC;security forcesâ&#x20AC;&#x2122; be withdrawn from the campuses immediately.â&#x20AC;?

The union however demanded the immediate commencement of the payment of the arrears of CONTISS 15 migration , adding that the issue of arrears has gone beyond the stage of what, how and when to pay. â&#x20AC;&#x153;In this regard, we humbly plead with the council to assert its authority and powers vested in it under the Laws of the polytechnic 2012. We further plead with the council to direct the administration and supervise the payment of arrears,â&#x20AC;? it said, while suggesting the following options for payment: â&#x20AC;&#x153;The agreement on March 7, 2017 signed by the representatives of council, administration, the unions and officials of the ministry immediately after the convocation ceremony and the next phase in December, 2017, while the outstanding is to be negotiated between the unions and the administration; the immediate payments of 16 months arrears based on the availability of 343,000,000 only from the Internally Generated Revenue (IGR) of the polytechnic as announced by the rector and corroborated by the Deputy Rector (Acad.)

71 months , will be paid within a maximum period of two years, as well 87 months of arrears to be paid at once.â&#x20AC;?

As at last week, the Senior Staff Associa-

tion of Nigeria Polytechnics (SSANIP) of the polytechnic had staged a protest to the State House of Assembly, seeking intervention in the ongoing crisis rocking the institution.

The protesters, who chanted different solidarity songs, carried placards with various inscriptions including; â&#x20AC;&#x2DC;Reversal of all academic allowances to our membersâ&#x20AC;&#x2122;, â&#x20AC;&#x2DC;TETFund denial of scholarship, Conference/ Book Publishing and Research Grants to staff membersâ&#x20AC;&#x2122;, had accused the rector of highhandedness and taking decisions without recourse to the management staff.

According to the Chairman of the association, Mr. Awoyemi Abiodun, â&#x20AC;&#x153; Sogunro does things without recourse to the governing council or to the executive management that are on the campus. As we speak, we used to conduct elections for the offices of the Deans but as soon as he got to power, deans are either selected or appointed because elections into the offices have been put to rest. â&#x20AC;&#x153;He has incited the students and cultists against the staff union in the polytechnic. We had a barbaric situation, where a member of the academic staff union executive was beaten to point of coma by the cultists. Our vehicles were also vandalised. We are tired of all these.

We have been so peaceful, Sogunro has taken away the peace we once enjoyed on the campus within two years. We now have crises regularly.â&#x20AC;?

THISDAY gathered that the unions had held a meeting with the House Committee on Education at the Stateâ&#x20AC;&#x2122;s House of Assembly on June 16, but a conclusion was yet to be reached as at the time of filing this report.

The General Secretary of ASUP, Comrade Uthman Olayinka who confirmed to THISDAY in a telephone conversation said, â&#x20AC;&#x153;we are yet to reach a conclusion, unionism is all about congress men, its not about the executive alone and we have to get back to them to take a final decision because they were the ones who called for the strike. Most likely we are having a congress by early part of this week.

Asked whether he sees an end to the strike action when the congress meets, he said , â&#x20AC;&#x153;the executive has just sent members, the congressmen are over 300 and I cannot say whether there will be an end to the strike or not. The congress has the final resolution. We are on our way to take a decision on when the congress will hold, we will converge on Monday as executive to take a position on what day it will hold.â&#x20AC;?

Meanwhile the Education Rights Campaign

(ERC), Lagos State Chapter, has called on the state government to find a quick and amicable resolution to the ongoing strike action of workersâ&#x20AC;&#x2122; unions of the polytechnic so that students can resume their studies.

The stateâ&#x20AC;&#x2122;s Coordinator, Mr. Nurudeen Omomeewa, in a statement described the demands of the workers unions as legitimate saying, â&#x20AC;&#x153; this demand if met will enhance workersâ&#x20AC;&#x2122; productivity and quality service delivery. Therefore, ERC Lagos supports the striking workers unions in LASPOTECH and urge the state government as the funding authority of the institution to immediately pay up the 87-month arrears of CONTISS 15 migration so that the workers can return to their duty posts and students can resume their studies which have been suspended since the strike started.â&#x20AC;?

He also condemned the invitation of armed soldiers from the 174 Battalion by the rector of the institution to assault the striking workers and students who had gathered at the school gate on June 7, for a peaceful protest. â&#x20AC;&#x153;ERC Lagos condemns the army for this reprehensible assault on citizenâ&#x20AC;&#x2122;s rights to freedom of expression and association. We urge the army to stick to its constitutional role of defending the country against external aggression and not to turn its officers into the paid thugs of despotic heads of higher institutions to assault workers and students fighting for their legitimate rights. â&#x20AC;&#x153;ERC Lagos understands that LASPOTECH students need to return back to class as soon as possible given that they have spent a whole year for an academic session that ordinarily should not last more than 7 to 8 months. We therefore urge students to join hands with the striking staff unions in order to compel government to meet their demands. But while joining the striking workers, it is important for workers and students to use this strike as a basis to beam light on all the crises afflicting LASPOTECH with a view to calling state governmentâ&#x20AC;&#x2122;s attention to all these issues.

Omomeewa said if these huge resources the state gets from IGR are democratically managed by a pro-working people government, then it would not only be possible to provide the funds required to meet the striking workersâ&#x20AC;&#x2122; demands, it would also be possible to adequately fund LASPOTECH and other state-owned institutions so as to ensure that decadent teaching infrastructures are improved and modernised for quality learning.

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Unity Schools Strike: Ex-CAN Boss, PTA Appeal for Payment of Teachersâ&#x20AC;&#x2122; Salary Hammed Shittu in Ilorin A former Chairman of Christian Association of Nigeria (CAN), in Irepodun Local Government Area of Kwara State, Pastor David Omorinoye and Chairman, Parents Teachers Association, Federal Government Girls College(FGGC) Omu-Aran, Mr. James Fabiyi at the weekend appealed to the federal government to expedite action towards the amicable resolution of the lingering industrial dispute involving some teachers of Unity Schools in the country.

They said that, if the issue is not urgently resolved, it may have a serious effects on the academic career of the students.

THISDAY checks revealed that teachers in the 42 Unity schools had few weeks ago embarked on a sit-at-home to protest the non-payment of their November 2016 salaries.

It was also revealed that teachers in 31 of the schools have been paid and had resumed duty leaving 11 schools of which Federal Government Girls College (FGC), Omu-Aran and FGC, Ilorin were among.

Since then, students of the affected Unity Schoolâ&#x20AC;&#x2122;s have been on compulsory holiday.

Omorinoye and Fabiyi made

the appeal in Ilorin, while speaking with Journalists over the ongoing strike action embarked on by the teachers of Unity Schoolâ&#x20AC;&#x2122;s in the country.

Pastor Omorinoye maintained that the prolong absence of teachers and stoppage of academic activities in most of the schools affected, could jeopardise studentsâ&#x20AC;&#x2122; overall performance.

He expressed concern that incessant industrial action in the nationâ&#x20AC;&#x2122;s institutions had remained a source of concern to religious leaders, adding that the development could be a stumbling block to the effort of the government toward achieving qualitative education for the citizenry.

According to him, â&#x20AC;&#x153;the development is a negation of the desired change envisioned for the education sector. There is little the students can do to make up for the loss of academic lessons, especially those in SS- classes who are at critical periods of their academic pursuit. â&#x20AC;&#x153;Our appeal to the federal government is to imbibe dialogue in achieving amicable settlement of the industrial action by the teachers in some of the unity schools.â&#x20AC;&#x2122;â&#x20AC;&#x2122; The Chairman, Parent

Teachers Association, FGGC, Omu-Aran, Mr James Fabiyi on his part, said the association had never relented toward ensuring amicable settlement of the dispute.

He expressed regret that teachers employed by the association were also prevented from carrying out their academic duties as a result of the industrial action. â&#x20AC;&#x153;We have made a formal appeal in a letter to the federal government through the Minister of Education for clearance of the November 2016 Salary which is the bone of contention. â&#x20AC;&#x153;We are still appealing to the government to consider the plight of the teachers and intervene for the students to resume their normal academic activities,â&#x20AC;? he said.

In the same vein, the Parents Teachers Association (PTA) of Federal Government College, Sagamu, Ogun state, has

expressed displeasure over the disharmony between the federal government and the staff unions of Unity Colleges, saying that the strike action should not be extended to the point of jeopardising the success of the countryâ&#x20AC;&#x2122;s education system which will in turn have undesirable effects on the academic achievement of the students.

According to them, â&#x20AC;&#x153;it is very disheartening to note that students of about 12 Unity Colleges in the country including FGGC Sagamu are at home while their contemporaries in private and other government secondary schools have been undergoing intense learning and other school activities for close to a month. The students are in dividing line either in their schools or at home with their parents. The endemic strike actions that have almost paralysed academic activities was mobilised due to irregu-

larities in salaries and other allowances due for teachers in unity schools.â&#x20AC;?

They asked why teachers are not given the right values and respect in the country saying, â&#x20AC;&#x153;If the government truly wants a world-class education system, surely it should empower teachers rather than undermine them. Aside the bad reputation the strikes conferred on the education system; delayed and extension of duration of students in school and unjust compression of the syllabus and academic calendar will deprived students of adequate academic preparation and eventually have undesirable effects on the students achievement of educational objectives as laid down in the prescribed curriculum. â&#x20AC;?

They appealed to the federal government to quickly respond to the teachers demands, saying, â&#x20AC;&#x153; we ask the Association of

Senior Civil Servant of Nigeria to consider the plight of the students in order to reach a compromise with the Government. In view of this, Parent Teachers Association (PTA) body has met with different stake holders in education in trying to negotiate a resolution to the present unrest. For there to be any meaningful transformation programme, structural adjustment programme and many point agenda in the absence of education imperative in a country. Education, the process that involves all round development of cognitive, psychomotor and affective ability of individuals in the society in order to promote the advancement of the individuals, society and the world at large should not be relegated to the background in whatever manner. Bearing in mind, no nation can develop beyond the capacity of her citizens.

NIS Partners NUC for Migration Institute in West Africa Kuni Tyessi in Abuja Plan are underway by the Nigeria Immigration Service (NIS) to establish Migration Institution for West African Countries.

The Comptroller General of the Service, Mohammed Babandede , who disclosed this, weekend, in Abuja during a meeting with the Executive Secretary of the National Universities Commission, NUC, Prof Abubakar Rasheed, said it is partnering with the commission to establish the institute which will be situated in Tuga ,Kebbi State, adding that it will be affiliated to universities in Nigeria and few West African countries.

He said the service plans to develop the countryâ&#x20AC;&#x2122;s intellectual capacity, adding, â&#x20AC;&#x153; our idea to reform the NIS is with the support from the NUC on roadmap to start an institute. We are envisaging migration institution for West African countries. Nigeria immigration is committed to tackling the challenges of Migration management in west Africa.â&#x20AC;?

Babandede said the institute will check migration issues and assist all neigbouring countries including French speaking nations in tackling their migration challenges.

On the Nigeria Immigration new visa policies, the NIS boss emphasised that the service needs to engage intellectuals to develop officers

in specific terms. â&#x20AC;&#x153;We have come to the National Universities Commission(NUC) to see how we can engage intellectuals to develop our officers. If we do this and intellectuals come in ,they will train millions of Nigerian and it will automatically develop the country.â&#x20AC;?

Speaking on the partnership, the Executive Secretary of the Commission, Professor Abubakar Rasheed , said the NUC and NIS will work together to promote Migration studies in Nigeria and for the whole of west Africa.

He affirmed that the commission will give intellectual shape to the institute of migration studies and will help create high standard dimension to extend it to the West Africa Sub region. â&#x20AC;&#x153;On the centrality of migration in the world affair today, many governments of the world, fall and rise because of migration issues.

Our role is to work closely with the NIS to see to the take-off of the proposed West Africa institutes for migration management studies that will be based in Tuga, Kebbi state,â&#x20AC;? the executive secretary added.

On programs of studies, Professor Rasheed assured that the commission will ensure that courses related to migration field are incorporated into the curriculum of the institute while also engaging credible professors in building of courses/curriculum that will be taught.

The Director, Curriculum and Examinations, Lagos State Technical and Vocational Education Board (LASTVEB) Mrs. Mercy Olaoye; Director, Technical and Vocational Services, Mr. Laolu Oguntuyi; Executive Secretary, Mrs. Omolara Erogbogbo; during a press conference on the advocacy for technical and vocational education recently

LASTVEB Boss Canvasses Technical Education for Youths Funmi Ogundare The Executive Secretary of the Lagos State Technical and Vocational Education Board(LASTVEB), Mrs. Omolara Erogbogbo has stressed the need for parents to encourage their children to learn skills through technical education, so that it can earn them a decent living.

Erogbogbo who made this known, recently, during a media chat on advocacy for the board, enumerated the efforts of the state government in revitalising Technical and Vocational Educational , adding that students who go through its technical colleges are exposed to the industry practicals, tools and equipment.

According to her, â&#x20AC;&#x153;A lot is

being done with the industries because it will bring about exposure and enlightenment for the students which will at the long run drive the economy. Capacity building will go along way in improving the system.â&#x20AC;?

She emphasised on its five technical colleges which activities the board monitors, regulates and supervises, adding that the government is making effort to build more in some parts of the state.

Erogbogbo expressed concern that the country depends more on expatriates for its construction industries saying, â&#x20AC;&#x153;we donâ&#x20AC;&#x2122;t want to contribute to the economy of foreign countries but to the development of our state. Technical and Vocational Education(TVE) is very important and critical for

our economy. We must have passion for it and be focused.â&#x20AC;?

Since she came on board last year, she said the board saw the need to employ more instructors in its technical colleges so as to further improve teaching and learning, adding that the government has promised its readiness to improve on the structure and facilities. â&#x20AC;&#x153;Technical colleges are regarded as the principal vocational institution in Lagos state because they are supposed to give full technical training intended to prepare the students for entry into various occupations at the craft level and at the same time prepare them well enough for admission into the tertiary institutions in various engineering, construction and business

fields, â&#x20AC;? the executive secretary stressed.

She emphasised on its partnership with various organisations noting that the board has gotten support from the states EKO secondary education project with the creation of centres of excellence in three technical colleges, partnership with NECA-ITF, global partnership with Dangote industries, Slot System Limited, Auto-Medics, Lonadek, among others.

Other supports Erogbogbo added included; capacity development programmes for practicing artisans in collaboration with the Ministry of Wealth Creation and Employment as well as Housing; Lagos State graduate vocational employability skills training programme and Enterprise day.

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Foundation Empowers Students on Career Guidance and Counselling Funmi Ogundare No fewer than 3000 secondary students drawn from private and public schools in Lagos, converged on the Exhibition Hall of the National Arts Theatre, Iganmu, for the Goge Africa Foundation career guidance and counselling seminar 2017.

The programme, which has been running since 2007, is aimed at empowering youths of Africa through information, seminars and valuable action projects geared towards self-development and realization of sustainable economy for the continent.

The programme with theme, â&#x20AC;&#x2DC; Youths Against Violenceâ&#x20AC;&#x2122;, saw speaker after speaker talking on topics such as â&#x20AC;&#x2DC;Cybercrime among the youthsâ&#x20AC;&#x2122;, â&#x20AC;&#x2DC;Security Awarenessâ&#x20AC;&#x2122;, as well as â&#x20AC;&#x2DC;Prevention of Child Abuseâ&#x20AC;&#x2122;.

In his remark, the founder, Mr. Isaac Moses said the programme is the foundationâ&#x20AC;&#x2122;s way of giving back to the society and ensure that children are well guided on career choices and prevailing vices.

According to him,â&#x20AC;? we run a television programme called Goge Africa and we go to most part of Africa and in the course of doing this, we saw many of the challenges that exist. Overtime, we discovered we had to move with the times otherwise we will be left behind. You will discovered that it is all about what you know rather than

what you are. How do we give back to the society and that is why we decided to establish the career guidance every year where we invite different resource people who know Africa has different challenges and professional skills to speak to the children and empower them.â&#x20AC;?

Emphasising on the impact it has made over the last 9 years since its inception, Moses said, â&#x20AC;&#x153; we believe that the over 37,000 students who have attended the seminar over the years, have been educated and must have gained one or two things from all the professionals that had spoken, and certainly it will impact their lives.â&#x20AC;?

The founder said funding has been the foundationâ&#x20AC;&#x2122;s major challenge in putting together the programme yearly, adding that it plans to replicate it in other parts of the country aside Lagos.

A representative of Christiana Faith Foundation, Mrs. Stella Oyerinde who spoke on â&#x20AC;&#x2DC;Child Sexual Abuseâ&#x20AC;&#x2122;, said people who abuse children, most times are close to them, adding that they are family members of friends.

According to her, â&#x20AC;&#x153;thirty percent of child abusers are very close to them and people who are related by blood, 60 percent are friends of the family. There are cases of father sleeping with their daughters, or uncles sleeping nieces and even brothers

abusing their sisters.â&#x20AC;?

In getting the victim, she said the abuser would do everything possible to get her attention to show his love, adding that after abusing their victims, they threatened them.

Oyerinde expressed concern that some children are coming from homes where the parents are no longer seen as role models, adding that one of the ways children can protect themselves from sexual abusers is to avoid lonely places and gift from people. â&#x20AC;&#x153;You must also report any case of sexual abuse, you need to come out and say it,â&#x20AC;? she said. The Lagos State Police Commissioner, Mr. Fatai Owoseni, reeled out many tactics the pupils could deploy to overpower criminals and especially abusers and abductors.

Owoseni who was represented by the Assistant Commissioner of Police and former Police Public Relations Officer, Mr. Frank Mba advised pupils to be open to their parents and guardians at all times, and avoid walking alone, to stop accepting unknown friends on social media and always avoid bad company.

He recalled the murder of Cynthia Osokogu about five years ago by her Facebook friends, adding that the recent conviction of the culprits was a plus to the fight against crime in the country.

SLEEPING ON DUTY? What would make a teacher constantly drop his/her head on the table, in the staff room and sleep off? Worse still what would make you doze off during staff meetings, whilst important matters are being discussed. Why are you not addressing the constant embarrassment you suffer, when your students catch you sleeping or dozing in class?

A common culprit in this matter is Insomnia. Insomnia refers to repeated or recurrent experiences of inadequate sleep.

Sleep is an essential part of good health and wellbeing. A good nightâ&#x20AC;&#x2122;s sleep helps you feel good, look healthy, work effectively and think clearly.

Sleep impacts positively on your mind, body and soul. Your bodyâ&#x20AC;&#x2122;s organs and systems are at work, conducting healing and tissue repairs, whilst you are asleep. Your brain and mind re-calibrate whilst you are sleeping and body growths occur whilst you are asleep.

Sleep however is not always easy to come by. If you sometimes or always have trouble falling asleep or staying asleep, you are not alone.

Daytime drowsiness is often indicative of a sleep problem that is potentially dangerous to your health, if not treated urgently.

World-wide, there are current statistics showing that nearly a quarter of the population cannot go to, or remain asleep.

Every year, doctors write out millions of prescriptions of sleeping tablets worldwide. Do you have a repeat prescription for Insomnia?

HAVE YOU HONESTLY IDENTIFIED WHY YOU ARE SLEEPING IN CLASS? Omoru writes from the UK

LASU VC Stresses Need for Students to be Patriotic

One of the graduand of Lagos StateVocationalTraining Institute, Surulere, Mrs. Ikara Mercy; Assistant Pastor in charge of Corporate Social Responsibility (CSR), Redeemed Christian Church of God (RCCG), Lagos Province 44, Pastor Ajibola Oreoluwa- Calebs;Wife of the Pastor Mrs. Temitope Emovon and her husband, Pastor Amos Emovon; and Head of the institute, Mrs. Bolanle Arikawe Otu, at the graduating ceremony for the 2017 RCCG Lagos Province 44 empowerment programme in Lagosâ&#x20AC;Śrecently etop ukutt

Firm Canvasses Smart Classrooms for Students Peace Obi The Senior Manager, Product Portfolio, Vodacom Business Nigeria, Mrs. Funke Atanda has called on parents, teachers and governments to put necessary facilities in place to prepare for the classrooms for the future saying that the conventional classrooms will soon be a thing of the past.

Speaking at the 9th edition of the Total School Support and Exhibition (TOSSE) recently, in Lagos, she said the days when a teacherâ&#x20AC;&#x2122;s desk sits at the front and studentsâ&#x20AC;&#x2122; desks neatly arranged in rows will soon be over, adding that in the future, classrooms will no longer be described as rooms within a school, where students are taught, but any space where learning takes place.

Explaining the present and future place of technology on education and the need for teachers to embrace Internet and Computer Education, Atanda said, â&#x20AC;&#x153;today, assignments are completed online and uploaded through classroom portals.

Posting of grades and results are also

done online. However, in the near future, group projects will be completed through collaborative software and students will use cloud storage instead of flash drives or paper to store their work. Teachers, parents, students and administrators will communicate through social media platforms designed specifically for education or for a school. All this will be made possible through the power of the Internet.

She stressed the need for teachers to embrace the internet and be computer literate, noting that laptops and other educational technology will eliminate the use of paper. â&#x20AC;&#x153;As the Internet and computers become more accessible and cheaper; instead of teachers copying handouts and exams to give to students, they will be pushed online to students.â&#x20AC;?

Manager, Product Portfolio emphasised the role of the teacher in the classrooms of the future, noting, â&#x20AC;&#x153;teachers will change from instructor to guide, and the responsibility now lies with them to become tech savvy and ready for the future classrooms

as well as for the learners.â&#x20AC;?

Enumerating some of the Internet giantâ&#x20AC;&#x2122;s contributions to providing affordable Internet connectivity solution for different sectors, Atanda said, â&#x20AC;&#x153;Vodacom Business Nigeria has been at the forefront of creating reliable and affordable connectivity solution for corporates and schools. Vodacom has now gone a step further to create EduLink Wireless Internet services that gives schools across Nigeria access to fast, reliable and cost-effective Internet. This solution offers access to curriculum content from primary school to local and international qualifications preparations such as SSCE, UMTE and â&#x20AC;&#x2DC;Aâ&#x20AC;&#x2122; levels. Educators are now well placed to reach more students and improve learning ability using content and curriculum available online even where books are scarce.â&#x20AC;?

She applauded the federal governmentâ&#x20AC;&#x2122;s efforts in bridging the digital divide in the country, said that it needs to step up efforts in making sure that Internet connection is made available to everyone, more importantly to schools.

The Vice Chancellor of Lagos State University, (LASU), Professor Olanrewaju Fagbohun has called on students to be passionate about their country in order to assist in its developmental efforts saying that no country can be higher than the commitment of its citizens.

Fagbohun who made this call, recently at Corona Secondary School, (CSS), Agbara, graduation ceremony, pointed out that hardwork, consistency and discipline, should constitute the work plans of the graduating students as they begin their journey into the real world.

In his paper titled, â&#x20AC;&#x2DC; Carpe Diem, Carpe Futurumâ&#x20AC;&#x2122;, ( Seize the Day, Seize the Future), the

VC who was Guest Speaker and Chairman of the occasion, said that from the theme of the programme, tomorrow can be won, if one manages today appropriately.

He advised the students to have a clear vision, to dream big, to be vigilant of their associates and to always remain as worthy ambassadors of their alma-mater.

The Principal, Mrs. Chinedum Oluwadamilola, commended the graduating students for their diligence while encouraging them to continue with the spirit of excellence they have imbibed at the school, as they move to the next phase of their educational pursuit.

.Nigerian Youths Urged to Develop Entrepreneurship Nigerian youths and graduates of higher institutions across the country have been urged to develop skills in entrepreneurship and Information and Communication Technology (ICT), to advance their job opportunities.

The Founder, Ajayi Polytechnic, Ikere-Ekiti, Ekiti State, Dr. Busayo Ajayi, who made the call during the institutionâ&#x20AC;&#x2122;s maiden inaugural lecture on Entrepreneurship and Basics of Business skills, said the country must imbibe the global and modern ways of running businesses through ICT. He expressed concern that most Nigerian youths and graduates are jobless and unemployable because they lack the necessary skills and

training, adding that the polytechnic is a platform designed to equip them with the required entrepreneurial skills to set up businesses of their own. â&#x20AC;&#x153;Innovativeness, being proactive and ability to take risks are some of the attributes the youths must have. It has to do with creating businesses and becoming an employer of labour in the larger business world but within an organisation it is called entrepreneurship. Apart from creating businesses and being employable through the entrepreneurial training, the ICT knowledge will help them to secure jobs in other countries while in Nigeria because we are now in global world.â&#x20AC;?

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Lagos Moves to Kick out Illiteracy Funmi Ogundare and Peace Obi The Lagos State Government has flagged-off the 2017 sensitisation and mobilisation campaign for mass literacy in Ikorodu, as part of its effort towards realising 95 percent literate population by 2019.

Speaking at the programme organised by the stateâ&#x20AC;&#x2122;s Agency for Mass and Adult Literacy, held at the Palace of the Adegboruwa of Igbogbo Baiyeku Kingdom, Ikorodu, Oba Semiudeen Kasali, the State Governor, Akinwumi Ambode assured Lagosians that his administrationâ&#x20AC;&#x2122;s would ensure that illiteracy is kicked-out of the state by 2019.

Ambode who was represented by his Special Adviser on Education, Mr. Obafela Bank-Olemoh, said the state has remained committed to its vision as it has continued to come up with new ideas, strategies as well as committing huge resources towards realising its target.

Explaining the stateâ&#x20AC;&#x2122;s efforts at making learning accessible to residents irrespective of their locations or trade, Ambode disclosed that about 1,000

facilitators have been trained with 250 new learning centres established across the state. â&#x20AC;&#x153;We have our study centres at every corner of the state such as in market places, mechanic villages, motor parks, churches, mosques, okada parks, palaces, NGOs offices and several other places that are easily accessible to learners. We also pay our instructors and facilitators their allowances regularly every month. To this end, we have been recording no fewer than 10,000 trainees graduating from the scheme annually and our target is to double the figure in the subsequent years.â&#x20AC;?

Stating that government cannot do it alone, he called on local council administrators, traditional rulers, religious leaders as well as market and trade union leaders for their continued support to the course. â&#x20AC;&#x153;Encourage your constituents to take advantage of this programme, so we can collectively kick illiteracy out of Lagos State,â&#x20AC;? Ambode said.

The Director, Agency for Mass and Adult Literacy, Mrs. Oluwakemi Kalesanwo, appealed to the learners to be regular in class and participate in all activities required of them

to graduate after one year. â&#x20AC;&#x153;The state government provides learners text and instructional materials free of charge. The learners are also taught Arithmetic, English and Yoruba language, general knowledge and civic education,â&#x20AC;? she said In another development, the Lagos State Model College, Kankon, has emerged the winner of the grand finale, season VIII of Lagos State Schools Governorâ&#x20AC;&#x2122;s Quiz competition held, recently at the Adeyemi Bero Auditorium.

The school beat Alimosho Senior Grammar School and Jubilee Model Senior Grammar School to the second and third positions respectively. In the junior secondary and primary schools category, Eko Junior College and Darocha Primary Schools came first respectively.

In her remarks, the Deputy Governor, Dr. Idiat Oluranti Adebule who was represented by the Director, Co-curricular, Ministry of Education Mrs. Babs Akinyeye, observed that the quality of quiz competition has been growing over the years, adding that the standard of questions posed to the pupils/students and the ease with which they answer them

is a testimony to the quality of education that the state provides.

She also observed the brilliant performance exhibited by the participants from the preliminaries to the final shows, saying that the students have been properly groomed and that is highly commendable.

The State Governor, Mr. Akinwunmi Ambode who was represented by the Permanent Secretary, Ministry of Education, Mr. Adesina Odeyemi said the competition is aimed at developing the minds of the pupils by creating healthy rivalry among students in public and private primary, junior and senior secondary schools across the state.

He added that over the years, it has produced many brilliant students who have gone ahead to study various courses in their choice of institutions of higher learning. â&#x20AC;&#x153;The government is happy with the overt display of knowledge by our amiable children in all facets of life, science and technology, art and craft. The improvement recorded in the 2016 WASSCE result and your achievements in many competitions both at home and abroad are encouraging.â&#x20AC;?

.L-R: A representative of Lagos State Model College , Kankon, Miss Jennifer Nwoye, Permanent Secretary, Ministry of Education, Mr. Adesina Odeyemi, another representative of the school, Master John Olumide and Permanent Secreatry District V, Mrs. Anike Adekanye, at the Lagos state schools Governorâ&#x20AC;&#x2122;s quiz competition heldâ&#x20AC;Śrecently

School Administrator Tasks Government on Funding of Science Education The Administrator of Grace Schools, Gbagada, Mrs. Tokunbo Edun has stressed the need for government to consciously improve funding of science and technology education all over the country so as to facilitate economic development.

Edun who made this call, recently when her school got the third place prize of this yearâ&#x20AC;&#x2122;s commonwealth science class competition, organised by the British Council in Nigeria, expressed concern that many public primary and secondary schools around the nation do not have well equipped laboratory, a situation which makes learning of science subjects a little difficult for the children.

She said most developed nations of the world have placed special emphasis on science and technology education at the early stages of the education system, adding, â&#x20AC;&#x153;there is no gain saying the fact that we need to encourage our children to do better in Mathematics, Science and Technology education by putting in place

well equipped laboratories and improving funding of science education generally.â&#x20AC;?

She attributed the success of her pupils in the competition to the training they received in a conducive learning environment where they have quality science equipment and information technology facilities even at the primary school level.

On the significance of the Commonwealth Science class competition, she said it exposes the children annually to the use of internet for collaborative work with their peers in other schools within the commonwealth.

The Head of Grace Children School, Dr. Nike Akindayo said 56 schools from across the commonwealth came together and carried out joint investigative science projects based on one of the following themes; renewable energy, global food security, emerging infectious diseases and climate change as well as rising sea levels.

She noted that Grace children school was among the schools that formed the team which did the project on emerging

infectious diseases. â&#x20AC;&#x153;Other schools that participated in the project on emerging infectious diseases are Choithram School, Indore Indian, Christ Faith Mission, â&#x20AC;&#x153;Iâ&#x20AC;? Primary School, Adenta Accra Ghana and Jovdebour Dams Salam Fadi Madrasah Dhaka, Bangladesh. The children gathered information through visit to health centres and shared ideas on-line before jointly coming up with their project. The third place prize was awarded to Grace children school their project titled sustaining steppers based on the emerging infectious diseases, showed that the team worked closely with one another and with their mentor and shared ideas and best practice. â&#x20AC;&#x153;They included learning outside the classroom in their project such as by visiting hospitals and their communities and presented their work imaginatively to send the message that prevention is better than cure.â&#x20AC;?

RUNNING THE CLASSROOM CHIOMA ERUOTOR

Education Begins from Home

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Ă&#x17D;Ă&#x2122; Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă? Ă&#x2039;Ă&#x2DC;Ă&#x2039;Ă&#x2013;ĂŁĂ?Ă&#x201C;Ă?Ë&#x17E; ÍŻË&#x203A; Ă&#x2122;Ă&#x; Ă&#x2018;Ă?Ă&#x17E; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2019;Ă&#x201C;Ă&#x2013;Ă&#x17D;Ă&#x153;Ă?Ă&#x2DC; Ă&#x2039; Ă&#x201D;Ă&#x2122;Ă&#x152;Ë&#x203A; Í°Ë&#x203A; Ă&#x2122;Ă&#x; Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă? Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; Ă&#x17E;Ă&#x2039;Ă&#x2022;Ă? Ă&#x2122;Ă Ă?Ă&#x153; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x2DC;ĂŁË&#x203A; ÍąË&#x203A; Ă&#x2122;Ă&#x; Ă?Ă?Ă&#x17E; Ă&#x;Ă&#x161; Ă&#x2039; Ă&#x152;Ă&#x;Ă?Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă? Ă?Ă&#x2122;Ă&#x153; Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; ÍŻË&#x203A; Ă? ĂŁĂ&#x2122;Ă&#x; Ă&#x2018;Ă?Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; Ă&#x2039; Ă&#x201D;Ă&#x2122;Ă&#x152; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă?ĂŁ Ă&#x2019;Ă&#x2039;Ă Ă? Ă&#x17E;Ă&#x2019;Ă? ĂĄĂ&#x153;Ă&#x2122;Ă&#x2DC;Ă&#x2018; Ă&#x2039;ĘľĂ&#x201C;Ă&#x17E;Ă&#x;Ă&#x17D;Ă? Ă&#x2039;Ă&#x17E; ĂĄĂ&#x2122;Ă&#x153;Ă&#x2022; Ă&#x2013;Ă&#x201C;Ă&#x2022;Ă? Ă&#x152;Ă?Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x2013;Ă&#x2039;Ă&#x17E;Ă?Ë&#x153; Ă&#x17E;Ă&#x2039;Ă&#x2013;Ă&#x2022;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x153;Ă&#x;Ă&#x17D;Ă?Ă&#x2013;ĂŁ Ă&#x17E;Ă&#x2122; Ă?Ă&#x2013;Ă&#x201C;Ă?Ă&#x2DC;Ă&#x17E;Ă? Ă?Ă&#x17E;Ă?Ë&#x153; ĂĄĂ&#x2019;Ă&#x201C;Ă?Ă&#x2019; Ă&#x2014;Ă&#x2039;Ă&#x17D;Ă? Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x2DC;ĂŁ Ă&#x2013;Ă&#x2122;Ă?Ă? Ă&#x2039; Ă&#x152;Ă&#x201C;Ă&#x2018; Ă?Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x153;Ă&#x2039;Ă?Ă&#x17E;Ë&#x153; ĂĄĂ&#x201C;Ă&#x2013;Ă&#x2013; Ă&#x17E;Ă&#x2019;Ă?ĂŁ Ă&#x2022;Ă?Ă?Ă&#x161; Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; Ă&#x17E;Ă&#x2019;Ă?Ă&#x153;Ă?ËŁ Í°Ë&#x203A; Ă&#x2019;Ă?ĂŁ Ă&#x17E;Ă&#x2039;Ă&#x2022;Ă? Ă&#x2122;Ă Ă?Ă&#x153; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x2DC;ĂŁ Ă&#x2039;Ă&#x2DC;Ă&#x17D; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2122;Ă&#x2014;Ă&#x161;Ă&#x2039;Ă&#x2DC;ĂŁ Ă&#x2013;Ă&#x2122;Ă?Ă&#x17E; ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă&#x153;Ă?Ă? Ă&#x2014;Ă&#x2122;Ă&#x2DC;Ă&#x17E;Ă&#x2019;Ă? Ă&#x2039;Ă&#x2DC; Ă&#x2039;Ă&#x2014;Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă&#x2039;Ă&#x17E; ĂŁĂ&#x2122;Ă&#x; Ă&#x17D;Ă&#x201C;Ă&#x17D;Ă&#x2DC;ËŞĂ&#x17E; Ă&#x2014;Ă&#x2039;Ă&#x2022;Ă? Ă&#x201C;Ă&#x2DC; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; ʨĂ&#x153;Ă?Ă&#x17E; ʨà Ă? ĂŁĂ?Ă&#x2039;Ă&#x153;Ă? Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă?Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă? Ă&#x17D;Ă&#x;Ă? Ă&#x17E;Ă&#x2122; Ă&#x17E;Ă&#x2019;Ă?Ă&#x201C;Ă&#x153; Ă&#x2013;Ă&#x2039;Ă?Ă&#x2022; Ă&#x2122;Ă? Ă&#x17D;Ă&#x201C;Ă?Ă?Ă&#x201C;Ă&#x161;Ă&#x2013;Ă&#x201C;Ă&#x2DC;Ă?Ë&#x153; ĂĄĂ&#x201C;Ă&#x2013;Ă&#x2013; ĂŁĂ&#x2122;Ă&#x; Ă&#x161;Ă&#x2039;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014; Ă&#x2122;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x2019;Ă?Ă&#x2039;Ă&#x17D; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă?Ă&#x2039;ĂŁ ËŞĂ&#x2014; Ă&#x161;Ă&#x153;Ă&#x2122;Ă&#x;Ă&#x17D; Ă&#x2122;Ă? ĂŁĂ&#x2122;Ă&#x; Ă?Ă&#x2019;Ă&#x201C;Ă&#x2013;Ă&#x17D;ËŁ Ă&#x2019;Ă?ĂŁ Ă&#x153;Ă&#x;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? Ă&#x152;Ă&#x;Ă?Ă&#x201C;Ă&#x2DC;Ă?Ă?Ă? Ă?Ă&#x2019;Ă&#x2039;Ă&#x152;Ă&#x152;Ă&#x201C;Ă&#x2013;ĂŁ Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă?Ă&#x153;Ă?ËŞĂ? Ă&#x2DC;Ă&#x2122;Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17E;Ă&#x2122; Ă?Ă&#x2019;Ă&#x2122;ĂĄ Ă?Ă&#x2122;Ă&#x153; Ă&#x201C;Ă&#x17E; ĂĄĂ&#x201C;Ă&#x17E;Ă&#x2019;Ă&#x201C;Ă&#x2DC; Ă?Ă?ĂĄ ĂŁĂ?Ă&#x2039;Ă&#x153;Ă?Ë&#x203A; Ă&#x2019;Ă? Ă?Ă&#x2039;Ă&#x153;Ă&#x2013;Ă&#x201C;Ă?Ă&#x153; ĂĄĂ? Ă?Ă&#x17E;Ă&#x2122;Ă&#x161; Ă&#x17E;Ă&#x2019;Ă?Ă?Ă? Ă&#x;Ă&#x2DC;Ă&#x2DC;Ă?Ă?Ă?Ă?Ă?Ă&#x2039;Ă&#x153;ĂŁ Ă&#x161;Ă&#x2039;Ă&#x2014;Ă&#x161;Ă?Ă&#x153;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă&#x17E;Ă&#x2019;Ă? Ă&#x152;Ă?ĘľĂ?Ă&#x153; Ă?Ă&#x2122;Ă&#x153; Ă&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2019;Ă&#x201C;Ă&#x2013;Ă&#x17D;Ă&#x153;Ă?Ă&#x2DC; Ă&#x2039;Ă&#x2DC;Ă&#x17D; Ă&#x17E;Ă&#x2019;Ă? Ă?Ă&#x2122;Ă?Ă&#x201C;Ă?Ă&#x17E;ĂŁ Ă&#x2039;Ă? Ă&#x2039; ĂĄĂ&#x2019;Ă&#x2122;Ă&#x2013;Ă?Ë&#x203A; Ă&#x2122;Ă&#x; ĂĄĂ&#x201C;Ă&#x2013;Ă&#x2013; Ă&#x2018;Ă&#x201C;Ă Ă? Ă&#x2039;Ă&#x2DC; Ă&#x2039;Ă?Ă?Ă&#x2122;Ă&#x;Ă&#x2DC;Ă&#x17E; Ă&#x17E;Ă&#x2122; Ă&#x2122;Ă&#x17D; Ă&#x2039;Ă&#x152;Ă&#x2122;Ă&#x;Ă&#x17E; Ă&#x17E;Ă&#x2019;Ă?Ă&#x2014;Ë&#x203A; Ă&#x153;Ă&#x2039;Ă&#x201C;Ă&#x2DC; ĂŁĂ&#x2122;Ă&#x;Ă&#x153; Ă?Ă&#x2019;Ă&#x201C;Ă&#x2013;Ă&#x17D; Ă&#x201C;Ă&#x2DC; Ă&#x17E;Ă&#x2019;Ă? ĂĄĂ&#x2039;ĂŁ Ă&#x2019;Ă? Ă?Ă&#x2019;Ă&#x2122;Ă&#x;Ă&#x2013;Ă&#x17D; Ă&#x2018;Ă&#x2122; Ă&#x2039;Ă&#x2DC;Ă&#x17D; ĂĄĂ&#x2019;Ă?Ă&#x2DC; Ă&#x2019;Ă? Ă&#x201C;Ă? Ă&#x2122;Ă&#x2013;Ă&#x17D;Ë&#x153; Ă&#x2019;Ă? ĂĄĂ&#x2122;Ă&#x2DC;ËŞĂ&#x17E; Ă&#x17D;Ă?Ă&#x161;Ă&#x2039;Ă&#x153;Ă&#x17E; Ă?Ă&#x153;Ă&#x2122;Ă&#x2014; Ă&#x201C;Ă&#x17E;Ë&#x203A; Ë&#x203A;

Eruotor writes from Lagos

Sterling Bank Uplifts â&#x20AC;&#x2DC;Keep Kings College Cleanâ&#x20AC;&#x2122; Campaign Sterling Bank Plc has uplifted the â&#x20AC;&#x2DC;Keep Kings College Cleanâ&#x20AC;&#x2122; campaign by donating 35 branded overall uniforms to the school management, in line with its longstanding commitment to environmental sustainability.

The campaign aligns with the bankâ&#x20AC;&#x2122;s environmental make-over programme which promotes practices that improve the quality of environment on a long-term. The leading commercial bank and promoter of clean environment, presented the 35 branded overall to the and the schoolâ&#x20AC;&#x2122;s executive management team in the school premises.

The Principal of the College, Mr. Anthony Oluseyi Thomas who received the overall uniforms commended the bank saying, â&#x20AC;&#x153;we are delighted to partner with Sterling Bank on â&#x20AC;&#x2DC;Keep Kings College Cleanâ&#x20AC;&#x2122; campaign which seeks to improve sanitation and hygiene in Nigeriaâ&#x20AC;&#x2122;s foremost federal government college. We welcome the support from the bank which will ensure that our cleaners are well kitted and can do their job of cleaning the school premises with pride. In no small measure, this will definitely bring about a positive outcome.â&#x20AC;?

T H I S D AY Ëž Ë&#x153; Í°ÍŻË&#x153; Í°ÍŽÍŻÍľ

36

CITYSTRINGS A Different Kind of Book Club

Ă?Ă&#x17E;Ă&#x201C;Ă&#x2DC;Ă&#x2018; Ă?Ă&#x2039;Ă&#x17E;Ă&#x;Ă&#x153;Ă?Ă? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153;Ë? Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x2013;Ă?Ă? Ă&#x201D;Ă&#x;Ă&#x2DC;ĂĄĂ&#x2039; Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; Ă?Ă&#x2019;Ă&#x2039;Ă&#x153;Ă&#x2013;Ă?Ă?Ë&#x203A;Ă&#x2039;Ă&#x201D;Ă&#x;Ă&#x2DC;ĂĄĂ&#x2039;ĚśĂ&#x17E;Ă&#x2019;Ă&#x201C;Ă?Ă&#x17D;Ă&#x2039;ĂŁĂ&#x2013;Ă&#x201C;Ă Ă?Ë&#x203A;Ă?Ă&#x2122;Ă&#x2014;

Olawale Ajimotokan writes about an Abuja-based resource centre that wants to impart life skills in children through reading, mentorship and internship

A

deola Remi-John is charting new frontiers by focusing on the transformation of youths of secondary school age through her model Sages and Scholars Life Camp Academy in Abuja.

The resource centre was set up on May 1, 2017 as a place where the youths can learn new things and are taught to improve and develop themselves by imbibing life skills.

Remi-John established the institution as an after school class and a club where children are provided with extra activities and extra coaching in core educational programmes like Mathematics and English Language besides preparatory sessions for students sitting for the West African School Certificate and GCE OL examinations.

The interview with the reporter was fortuitous and at the same time revealing. Remi-John took time to explain the underlying philosophy of her niche and overall expectations for the centre she flaunted as a place where all round learning of different dimensions take place. â&#x20AC;&#x153;This place is an after school, book reading club. We organise activities and is also a place where people can come. It is like an educational resource centre, where they can borrow books and learn. We hope that in the future, we can even organise quizzes and may be, essay presentations for students that fall in love with learning and want to know more,â&#x20AC;? she said.

The Book Club is a free class held every Saturday afternoon for senior secondary school students. It encourages and exposes the participants to develop interest for reading in particular poetry and literature.

She noted that the Book Club will allow children overcome the discouragement that usually creeps in the moment a big book is placed before them. Once they join the Book Club they will be split into groups where they will discuss, critique, analyse and hone their public speaking skills. â&#x20AC;&#x153;We have identified a target market for the Book Club. I expect that some of the public schools around that need support in English and Literature in a relaxed way can come and pick a book and read. This Saturday programme is free and is an interactive programme. It is our way of giving back to the society.â&#x20AC;?

She stressed the need for children of nowadays to be supported in areas where they need to develop because they are easily distracted by computer games and the social media.

Although she has not practised as a teacher, Remi-John has a certificate in Montessori

This place is an after school, book reading club. We organise activities and is also a place where people can come. It is like an educational resource centre, where they can borrow books and learn. We hope that in the future, we can even organise quizzes and may be, essay presentations for students that fall in love with learning and want to know more

Reading session at the Book Club

Remi-John...investing in children's education

Education from a six-month course she undertook from an institute in India about five years ago.

And in term of working with youth, during her undergraduate days, she belonged to a fellowship that catered for children for her volunteer experience.

She did that for five years and after she got married she was put in charge of the children section at her church.

Remi-John is a graduate of Electrical Electronics Engineering from University of Ibadan. Her career in the corporate world spans over 13 years with experience in Health

Safety and Environment, Quality Management, Sales and Marketing and ISO audits.

She holds a certificate in Technology, Operations and Value Chain management from MIT Sloan School of Management and is an alumnus of the Owner Management Programme of the Lagos Business School (OMP17).

After voluntarily leaving the corporate world, she deftly put her experience into practice by delving into management consulting, logistics and supply chain, brick and mortar and online retail sales.

She constantly keeps herself busy by learning new things and sharing new ideas with like-

minded knowledge seekers. Her most recent foray into the world of academics earned her an MBA (Distinction) in Global Business from Coventry University London Campus, UK. Her impressive profile spanning the corporate terrain over the years, appeared to have prepared her for the big strides she is now making.

That aside, she derives fulfillment that what she wrote as her MBA business plan is now what is being implemented with the youth empowerment plan.

But the scope of Sages and Scholars Academy is broader and beyond the scope of the Book Club where the ability of students to pick up

T H I S D AY Ëž Ë&#x153; Í°ÍŻË&#x153; Í°ÍŽÍŻÍľ

37

CITYSTRINGS

and read books is developed.

Early this month, the academy started an intensive empowerment programme for JS3 graduates to prepare them for the transition to SS after the long holiday.

The daily programme, Brains â&#x20AC;&#x2DC;nâ&#x20AC;&#x2122; Skills Boot-camp that will stretch through August 25, will arm the students with knowledge in the creative art, language, music, photography, gastronomy, fashion, website designing, coding and programming.

The empowerment sessions that attract registration fee will also dovetail into internship and mentoring where the participants will be attached to tutors in practical work environments for a feel of experience of professional side of their chosen skills.

The proprietor said the career counselling sessions will enable the participants to be paired with mentors in their chosen fields where they can have one session to and follow up beyond the book camp period.

One of the kids, Vivian Etim Edem, a 14year- old Senior Secondary School student of Loyola Jesuit College, Abuja, said her stint at the academy would expose her to different skills.

She said she wants to become a successful medical doctor in the future.

Edem said the programme has impacted on her learning skills and has enabled her to learn all the different crafts.

"I learned that with hard work, you can become what you want to be and be successful in your profession, " she said.

Another member of the Book Club, Njokanma Eluemumo said the different programmes on career flight for children have allowed her to be self-confident.

The 13- year-old student of Loyola Jesuit College said after the stint at the academy, she hopes to make her own website and learn how to develop applications.

"I attended the programme last week and I gained a lot. I am now confident in myself, "the junior secondary school student gushed.

Remi-John said the scheme would provide an avenue for the children not to be idle at home as they would use the free time to equip and develop themselves, acquiring some skills that will prepare them for life in a rewarding environment.

She said the academy is equipped to admit the most of 40 to 50 apprentices to make the programme flexible given that they would be moved around classes and shuffled between programmes.

According to her, resource persons in diverse fields will handle the skills acquisition programmes in photography, make up artistry, bead making and web design. Regular school subjects will be handled by experienced teachers. â&#x20AC;&#x153;We want to ensure that when they leave their parents, for whatever number of days they are away, they will have a full grasp of what the society expects and what I call survival skills for their particular age or the expectation of their age. We want them to have respect for elders, etiquettes, be able to speak well, and above all, self-confidence. You also wonder that some children these days do not really know how to sweep the floor

We want to ensure that when they leave their parents, for whatever number of days they are away, they will have a full grasp of what the society expects and what I call survival skills for their particular age or the expectation of their age. We want them to have respect for elders, etiquettes, be able to speak well, and above all, self-conďŹ dence

Students reading books

Members of the Book Club

Excited members of the Book Club

and how to help at home because we have so much indulged them,â&#x20AC;? she said.

When pressed for the motivation behind her passion, she hinged it on her love for children.

She also revealed her happy childhood growing up in a university environment that allowed education to be done with utmost comfort. â&#x20AC;&#x153;Children of these days should also have

that kind of privilege and opportunity where they can enjoy all the right resources. My father was a lecturer and my mother was a teacher.

But right now parents are busy looking for money everywhere and are delegating their responsibility to others because of lack of time.â&#x20AC;?

Remi-John summed up the interview projecting her expectations from the children

development programme.

She expects that whenever the products of Sages and Scholars are asked, they should say without hesitation, that they passed through the academy. She also added that they should be able to grow up to be independent children reflecting the centreâ&#x20AC;&#x2122;s motto: â&#x20AC;&#x2DC;To develop knowledge and skills in books and lifeâ&#x20AC;&#x2122;.

T H I S D AY Ëž , JUNE 22, 2017

38

BUSINESS/MONEYGUIDE

CBN Moves to Licence Private Asset Management Companies Obinna Chima The Central Bank of Nigeria (CBN) has unveiled to members of the public, a draft document for licencing of Private Asset Management Companies (PAMCs) that are expected to play complementary roles in the management of non-performing loans in the country.

The CBN, in the exposure draft for the licencing and regulation of PAMCs in Nigeria, signed by its Director, Financial Policy and Regulation, Mr. Kelvin Amugo, a copy of which was posted on its website, explained that developments in the Nigerian banking industry necessitated the initiative.

This shows that the sunset period of the Asset Management may be drawing nearer.

The draft framework stated that â&#x20AC;&#x153;given the ever evolving developments in the industry, the decline in international

commodity prices with its consequent impact on risk assets in the industry, it has become expedient to proactively widen the space for the management of NPLs through the establishment of PAMCs. â&#x20AC;&#x153;This is in line with the CBNâ&#x20AC;&#x2122;s core mandate of promoting a sound and stable financial system in Nigeria.â&#x20AC;?

The document described the PAMC as a privately owned institution licenced by the CBN as an Other Financial Institutions (OFIs) to acquire, manage, restructure and dispose of Eligible Assets of Banks, OFIs and banks in liquidation.

According to the draft framework, the PAMC would perform the functions of AMCON, which included buying off assets off bans and other financial institutions and disposing them.

Also, they would be expected to provide consultancy and advisory services to banks and

other financial institutions for the purpose of restructuring receivables and other assets including sale of such assets to third parties.

They would however not be allowed to operate as banks by taking deposits or granting loans neither would they be able to obtain credit from banks and other financial institutions in the county. To be licenced, a PAMC would need a N10 billion paid up capital.

In terms of risk management, the framework requires that PAMCs develop an enterprise risk management framework which will serve as a guide in the identification, measurement monitoring and control risk.

It added: â&#x20AC;&#x153;The ERM framework should be approved by the board of directors and cover the different forms of risks to which a PAMC may be exposed. Such risks include liquidity, credit, operational market, legal and compliance risks.â&#x20AC;?

Broad-Street-Lagos

MARKET INDICATORS

â&#x20AC;&#x2DC;National Integration Needed for Nigeriaâ&#x20AC;&#x2122;s Economic Devtâ&#x20AC;&#x2122; Peter Uzoho A Professor of Economics and Director, Institute for Development Studies at the University of Nigeria, Nsukka, Osita Ogbu, has stated that the economic development of Nigeria was depended on a true integration of its component units.

Citing the pace of development in Malaysia, China and the United States of America who have apparently gotten it right in their drive for economic development, Ogbu noted that nations rise and fall not because of oil or other sub-soil assets, but they rise because they have good leaders.

The professor, who is also a former minister of national planning, said in the Nigerian case, such â&#x20AC;&#x153;deliberate construction requires the elevation of citizenship over indigeneship; the promotion of meritocracy; the creation of democratic citizenship with equal rights and justice for all; and the use of creativity and imagination for common purpose irrespective of the source of this creativity.â&#x20AC;?

Speaking in Lagos, as the

guest lecturer at the 2017 annual lecture organised by the Chartered Institute of Bankers of Nigeria (CIBN), with the theme: â&#x20AC;&#x153;National Integration, Citizenship and Economic Policy Making,â&#x20AC;? recently, Ogbu said: â&#x20AC;&#x153;In our case, the recruitment of citizens with emotional attachment into this common political community is an exercise in national integration. â&#x20AC;&#x153;The creation of this political community that binds through voluntary subscription must occur for economic and social policies to be effective. Unless this is done, we can plan but would be unable to implement as every regime starts the process anew.â&#x20AC;?

However, he suggested the creation of â&#x20AC;&#x153;a National Integration Commission (NIC) under the presidency that would champion actions and activities that would break the resistance to a true nation-state, overcome the strong bonds of ethnic affiliation and the emergence of a democratic citizenship with full rights wherever they may be.â&#x20AC;?

Earlier, in his welcome address at the occasion chaired by the President of the Nigerian Stock Exchange, Mr. Aigboje Aig-Imoukhuede, President/ Chairman in Council, Chartered Institute of Bankers of Nigeria, (CIBN), Prof. Segun Ajibola, said the topic of the lecture was aptly timed given the current agitations for sovereign ethnic identities going on in all parts of the country.

Ajibola also explained that the topic of discourse was unique because after several years of experimenting with panel discussions, the Institute reverted to using only the guest lecturer, saying it was to allow the lecturer develop a well-researched paper that would do justice to the topic and have enough time for presentation.

He noted that the imperative of national integration for sustainable growth and development in a highly diverse and dispersed country like Nigeria cannot be overemphasised. the citizens while respecting their respective ethnic, cultural, religious and social affiliations.â&#x20AC;?

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&#x2122;Ă&#x;Ă&#x153;Ă?Ă? Ě&#x2039;

MANAGED FUNDS Month

December 2016

Inter-Bank Call Rate

10.39

Minimum Rediscount Rate (MRR)

Heritage Bank Grows Agent Outlets to 400 Heritage Bank Plc said it recently deepened its retail banking structure by growing its agent banking base to 400 â&#x20AC;&#x2DC;Corner Shops.â&#x20AC;&#x2122; To this end, in line with the financial inclusion strategy of the Central Bank of Nigeria, Heritage Bank also announced its launch of agent banking services at the coastal town of Badagry, Lagos State.

The bank inaugurated an agent, Thy Grace, to provide a range of financial services to customers in the neighbourhood of Mowo under the Badagry Local Government. The CEO of Heritage Bank, Ifie Sekibo, explained that the bank has continued to set standard in the launching of â&#x20AC;&#x2DC;Corner Shopâ&#x20AC;&#x2122; to cater for the need of traders and artisans at different locations across the country.

According to statement, Sekibo said the shop was aimed at giving the unbanked, especially in the rural areas the opportunity to enjoy financial services without the risk and stress of walking kilometres in order to visit a bank branch.

However, speaking at the commissioning in Badagry, the Zonal Business Coordinator, South-West, South-South, Agent Banking, Heritage Bank, Oluwakemi Adewunmi, described the feat as a major breakthrough that would relieve the people living in the Ikogazebbe community of the stress they hitherto faced in transacting banking services.

She said with the new agent commissioned to represent Heritage Bank in the locality, banking services would no longer constitute a headache,

but rather would be stressfree for all categories of bank customers.According to her, anybody can benefit from the services of the agent whether you are a customer to Heritage Bank or another bank.

With the inclusion of Thy Grace, she said Heritage Bank now boasts of about 400 agents it has established in different parts of the country. â&#x20AC;&#x153;The level of their loyalty is very high and commendable.

Our agents maintain a clean record and they have been effective.â&#x20AC;?

In his remarks after receiving the Certificate of Authorisation to carry out agent banking on behalf of Heritage Bank, Hunyingan Pius Mifrinso, promoter of Thy Grace, commended the bank for the approval given to him.

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&#x2122;Ă&#x2DC;Ă?Ă&#x17E;Ă&#x2039;Ă&#x153;ĂŁ Ă&#x2122;Ă&#x2013;Ă&#x201C;Ă?ĂŁ Ă&#x2039;Ă&#x17E;Ă? Ě&#x2039; ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT, TUE, 13 JUNE 2017 The price of OPEC basket of fourteen crudes stood at $44.46 a barrel on Monday, compared with $44.58 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), ZaďŹ ro (Equatorial Guinea), 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

39

˾ WEDNESDAY, JUNE 21, 2017

Nigeria’s top 50 stocks based on market fundamentals

20-Jun-17

19-Jun-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

213.97

210.00

1.89%

3,646,157,369,447.85

10.95

19.17

5.82

3.81%

4.49

02 Nigerian Breweries Plc

168.00

165.00

1.82%

1,332,088,949,184.00

3.58

46.04

4.17

2.18%

7.89

03 Guaranty Trust Bank Plc

35.90

36.00

-0.28%

1,056,579,334,141.60

4.49

8.01

2.56

4.92%

2.10

910.00

907.00

0.33%

721,317,189,320.00

10.00

90.72

3.95

3.20%

23.28

05 Zenith Bank Plc

22.08

22.50

-1.87%

693,234,582,794.88

4.13

5.45

1.39

8.00%

1.00

06 Stanbic IBTC Holdings Plc

32.90

32.45

1.39%

329,000,000,000.00

2.85

11.38

2.07

0.31%

2.30

07 United Bank for Africa Plc

8.85

8.75

1.14%

321,073,807,949.70

1.99

4.39

0.83

6.86%

0.71

76.00

75.94

0.08%

301,756,255,420.00

0.03

2,597.14

4.23

1.71%

7.21

9.79

10.00

-2.10%

283,204,842,267.49

13.18

0.76

0.76

5.50%

0.64

15.29

15.35

-0.39%

280,564,638,077.35

0.68

22.69

0.48

4.04%

0.45

460.00

460.00

0.00%

254,522,743,980.00 -82.02

-5.61

4.02

3.46%

0.68

12 Lafarge Africa Plc

54.20

54.00

0.37%

246,875,678,102.00

3.71

14.56

1.12

5.56%

0.99

13 FBN Holdings Plc

6.67

6.55

1.83%

239,421,602,922.64

0.21

31.57

0.44

2.29%

0.38

14 Unilever Nigeria Plc

42.99

42.99

0.00%

162,643,905,787.50

0.81

52.95

2.33

0.12%

13.91

15 Guinness Nig Plc

73.00

73.00

0.00%

109,929,837,724.00

-3.06

-23.87

1.06

4.38%

2.79

16 Dangote Sugar Refinery Plc

9.10

9.14

-0.44%

109,200,000,000.00

1.20

7.62

0.65

5.47%

1.66

17 International Breweries Plc

30.65

28.35

8.11%

100,968,740,432.00

0.02

1,258.21

3.51

0.88%

8.51

272.01

272.01

0.00%

92,353,334,882.37

43.58

6.24

0.32

5.15%

3.92

7.65

8.02

-4.61%

92,064,834,539.10

0.29

27.62

0.21

9.35%

0.50

250.90

250.90

0.00%

90,473,351,235.80

22.61

11.10

0.96

2.87%

4.22

29.50

29.50

0.00%

77,414,997,016.50

-1.19

-24.72

0.18

6.78%

0.78

1.76

1.77

-0.56%

68,148,955,468.00

-0.03

-60.81

1.15

0.00%

0.79

23 Okomu Oil Palm Plc

70.18

70.18

0.00%

66,945,403,800.00

5.15

13.63

4.66

0.14%

3.94

24 Forte Oil Plc.

50.04

52.81

-5.25%

65,176,154,394.12

2.22

23.80

0.46

6.53%

1.59

25 7-Up Bottling Comp. Plc

93.00

93.00

0.00%

59,574,903,759.00

-0.05 -2,036.12

0.64

2.37%

2.68

26 Julius Berger Nig. Plc

43.85

39.80

10.18%

57,882,000,000.00

-2.89

-13.76

0.38

3.77%

0.75

1.31

1.30

0.77%

37,940,987,256.52

0.39

3.36

0.25

12.31%

0.20

17.55

17.75

-1.13%

33,711,169,991.85

3.37

5.26

0.45

5.63%

0.45

29 Sterling Bank Plc

1.03

1.08

-4.63%

29,654,130,669.78

0.18

6.02

0.28

8.33%

0.36

30 Diamond Bank Plc

1.28

1.32

-3.03%

29,645,297,879.04

-0.29

-4.50

0.14

0.00%

0.13

31 Cadbury Nigeria Plc

14.25

14.95

-4.68%

26,764,379,070.00

-0.16

-94.73

0.94

8.70%

2.54

32 Mansard Insurance Plc

2.50

2.62

-4.58%

26,250,000,000.00

0.25

10.44

1.33

1.91%

1.36

33 National Salt Co. Nig. Plc

9.80

9.80

0.00%

25,964,496,104.40

0.91

10.75

1.42

5.61%

3.23

34 Wema Bank Plc

0.67

0.61

9.84%

25,844,892,274.27

0.07

9.08

0.44

0.00%

0.49

35 FCMB Group Plc

1.30

1.36

-4.41%

25,743,524,015.30

0.72

1.88

0.15

7.35%

0.15

36 Glaxo Smithkline Consumer Nig. Plc

20.55

21.59

-4.82%

24,575,261,828.40

3.51

6.15

1.79

1.39%

1.51

37 Cap Plc

34.20

34.20

0.00%

23,940,000,000.00

2.29

14.93

3.51

3.36%

10.48

38 PZ Cussons Nigeria Plc

22.00

22.00

0.00%

22,000,000,000.00

5.69

3.87

1.53

0.45%

0.59

39 Custodian And Allied Insurance Plc

3.52

3.52

0.00%

20,704,161,966.40

0.91

3.88

0.54

3.98%

0.69

40 Honeywell Flour Mill Plc

1.88

1.96

-4.08%

14,908,771,597.04

-0.40

-4.85

0.32

8.16%

0.47

41 Continental Reinsurance Plc

1.32

1.29

2.33%

13,692,022,491.84

0.42

3.07

0.60

9.30%

0.72

42 Cement Co. Of North.Nig. Plc

10.74

9.75

10.15%

13,496,719,206.84

0.22

44.54

1.10

1.03%

1.14

43 Skye Bank Plc

0.80

0.81

-1.23%

11,104,241,128.00

-2.93

-0.28

0.07

37.04%

0.11

44 Unity Bank Plc

0.80

0.80

0.00%

9,351,470,353.60

0.19

4.28

0.11

0.00%

0.11

45 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

46 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

47 UACN Property Development Co. Limited

2.95

2.84

3.87%

5,070,312,485.25

-0.90

-3.15

0.77

24.65%

0.14

48 Nigerian Aviation Handling Company Plc

2.98

3.09

-3.56%

4,840,171,875.00

0.36

8.64

0.63

6.47%

0.78

49 Fidson Healthcare Plc

3.14

3.30

-4.85%

4,710,000,000.00

0.21

15.63

0.65

1.52%

0.75

50 AIICO Insurance Plc

0.64

0.64

0.00%

4,435,330,867.20

1.48

0.43

0.16

7.81%

0.51

04 Nestle Nigeria Plc

08 Presco Plc 09 Access Bank Plc 10 Ecobank Transnational Incorporated 11 Seplat Petroleum Dev. Co. Ltd

18 Total Nigeria Plc 19 Oando Plc 20 Mobil Oil Nig Plc 21 Flour Mills Nig. Plc 22 Transnational Corporation Of Nigeria Plc

27 Fidelity Bank Plc 28 U A C N Plc

TOTAL

11,305,276,989,034.60

TOTAL MARKET CAP

11,887,180,351,923.10

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

95.10%

Table 1 Market Statistics Mkt Indicators

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

Open 19-Jun-17

Close 20-Jun-17

Change %

34,135.10 11.80

34,375.60 11.89

0.70% 0.71%

144.12 11.22

145.20 11.31

0.74% 0.74%

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

Table 3 Top 5 Gainers Stock

Open Close Change 19-Jun-17 20-Jun-17 %

Julius Berger Nig. Plc Cement Co. Of North.Nig. Plc Wema Bank Plc International Breweries Plc UACN Property Development Co. Limited

39.80 9.75 0.61 28.35 2.84

43.85 10.18% 10.74 10.15% 0.67 9.84% 30.65 8.11% 2.95 3.87%

Table 4 Top 5 Losers Stock

Open Close Change 19-Jun-17 20-Jun-17 %

Forte Oil Plc. Fidson Healthcare Plc Glaxo Smithkline Consumer Nig. Plc Cadbury Nigeria Plc Sterling Bank Plc

52.81 3.30 21.59

50.04 -5.25% 3.14 -4.85% 20.55 -4.82%

14.95 1.08

14.25 -4.68% 1.03 -4.63%

NSE Index gains 0.70% Market pulse on the Nigerian Stock Exchange (NSE) today – Monday, June 20th, 2017 ended on a positive note as the stock market closed green on the back of Consumer Goods industry. This was further highlighted by positive performance from the NSE Subsectors: Consumer Goods (Save Banking, Insurance and Oil & Gas). However, trading activities decreased in volume as 392.27m shares worth of N4.22 billion in 5,412 deals exchanged hands today. This is a decrease from 482.52m shares worth of N5.68 billion in 5,771 deals which exchanged hands on Monday. Topping in volume terms are: Transnational Corporation Of Nigeria Plc, Zenith Bank Plc and Skye Bank Plc; Zenith Bank Plc and Nigeria Breweries Plc ended trading as the most active stocks in value terms.

Brent crude oil price settles at US$46.12 per barrel.

The All Share Index (NSEASI) closed positive with 0.70% (+240.50) increase to close at 34,375.60 from 34,135.10 the previous trading day. Market capitalization appreciated in tandem to N11.89 trillion from N11.80 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 0.74% to 145.20 from 144.12 recorded at the end of the previous trading day, while its market capitalization stood at N11.31 trillion from N11.22 trillion of the previous trading day.

Market breath closed positive today as 25 stocks gained on the bourse while 27 stocks also declined, leaving 53 stocks unchanged. Topping the Thisday BGL 50 Index gainers’ list Julius Berger Nig. Plc as it emerged as the day’s toast of investors with a gain of 10.18% to close at N43.85 per share. It was closely followed by CCNN Plc with a gain of 8.83% to close at N10.74 per share. Others on the gainers list include: Wema Bank Plc, International Breweries Plc and UACN Property Development Co. Limited; while on the decliners’ list, Forte Oil Plc lead with a loss of 5.25% to close at N50.04 share. It was followed

by Fidson Healthcare Plc with a loss of 4.85% to close at N3.14 per share. Others on the decliners list include: Glaxo Smithkline Consumer Nig. Plc, Cadbury Nigeria Plc and Sterling Bank Plc. REQUIRED DISCLOSURE This report has been prepared by BGL Plc. BGL Plc does and seeks to do business with companies covered in its research reports. As a result, the firm may have a conflict of interest that could affect the objectivity of this report. Investors should use this report as one of many other factors in making their investment decisions.

For more details go to www.thisdaylive.com

T H I S D AY Ëž , 21 JUNE, 2017

40

MARKET NEWS

PenCom Urged to Finalise Modalities for Implementing GMPS Ebere Nwoji An Actuarial Scientist and Managing Director, Linkage Assurance Plc, Dr. Pius Apere has urged the National Pension Commission ( PenCom) to expedite action on the modalities for implementing the Guarantee Minimum Pension (GMPS) for Nigerian workers.

The GMP is akin to an

income support from the government and can be considered as a variant of social security policy that ensures redistribution of resources to its populace. It acts as a safety net for pensioners.

It is a form of underpin applicable in a defined contribution (DC) scheme, such as the Contributory Pension Scheme (CPS) currently being

T H E MAIN BOARD

DEALS

MARKET PRICE

operated in Nigeria, which has a main benefit that is defined contribution in nature, with a promise that the benefit will be at least a defined benefit (DB) amount usually a percentage of final salary at retirement date.

Apere, noted that more than 10 years after the CPS was established in Nigeria, PenCom was yet to finalise the

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

modalities for implementation of the scheme.

He observed that the importance attached to the welfare of retirees by government led to the provision of the GMP in the pension act, adding Nigerian pensioners, have high expectations on PenCom and federal government to timely and efficiently implement all provisions of pension

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

regulations. â&#x20AC;&#x153;These expectations arise from the need to have sustainable standard of living in retirementâ&#x20AC;?, he stated.

According to him, under the prevailing pension regulations in Nigeria, one of the ways to achieve the pensionersâ&#x20AC;&#x2122; social welfare goal, is the implementation of the GMP, as provided in section 84(1) of

the Pension Reform Act (PRA) 2014 as amended, which states that â&#x20AC;&#x153;all Retirement Savings Account (RSA) holders who have contributed to licensed Pension Fund Administrators (PFAs) for a number of years to be specified by the Commission, shall be entitled to a guaranteed minimum pension, as may be specified from time to time by the Commissionâ&#x20AC;?.

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

41

˾ WEDNESDAY, JUNE 21, 2017

MARKET NEWS

Stockbrokers Seek Closer Ties with Government Goddy Egene

The stockbroking community has called for closer collaboration with government officials by sending their representatives to events organised by operators for the development of the market in particular and economy generally.

The stockbrokers, under the aegis of Chartered Institute of Stockbrokers (CIS), are also clamouring for utilisation of the capital market to fund the 2017 budget deficit as a demonstration of the government’s belief in the

market’s capacity to provide long-term fund for capital projects.

According to the President, CIS, Mr. Oluwaseyi Abe, governments at all tiers should attach value to workshops, summits and other fora organised by the capital market operators by attending in order to have direct interface with the operators on issues of common interest.

Speaking in the same vein, the Second Vice Chairman, CIS, Mr. Tunde Amolegbe stated that the government officials driving the capital market policies should

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

come closer to the operators in order to understand the workings of the market and how it can impact on the government’s policies.

“The growth of most developed economies is financed through the capital market. It is obvious that our market has capacity to fund the deficit in the 2017 budget. Participating in the capital market fora would surely bring the government to the operators on a mutually agreeable ways by which the market can be utilised by the government. There are no better

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 19-June-2017, unless otherwise stated.

fora than the ones organised by professional bodies such as the CIS,” Amolegbe said.

A former President, CIS, Mr. Mike Itegboje said that when former governor Lucky Igbinedion attended the CIS conference in Edo State in 2001, he developed interest in raising money from the capital market.

Itegboje stressed that this underscored the imperative for government to play pivotal roles in any forum where capital market issues take the centre stage.

Also, the first Vice President,

CIS, Mr. Adedapo Adekoje explained that operators in the capital market should not give up in the demand for active participation of the government officials in the market workshops and related avenues as decisions taken at such a forum stand better chance of implementation as against the current trends whereby only the operators themselves participate.

A Council member of the Institute, Mr. Ropo Dada expressed dismay that the federal government appeared to see the capital market and money

market from the perspective of competition rather than complimentary.

Dada, who ascribed this misconception to government’s inactive approach to capital market events noted that until the government appreciates the fundamental roles of the capital market to the growth and development of any economy, the current situation may linger.

“If a bank has challenges, the Central Bank and federal government quickly respond but it is not the same for stockbroking firms.” Dada 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 163.86 164.96 29.20% Nigeria International Debt Fund 223.72 225.20 5.53% 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 0.75 0.76 7.30% 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 18.76% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 16.11 16.60 30.50% ARM Discovery Fund 346.08 356.51 20.51% ARM Ethical Fund 24.94 25.70 11.65% ARM Money Market Fund 1.00 1.00 16.60% 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 137.10 138.06 30.35% AXA Mansard Money Market Fund 1.00 1.00 18.52% 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 16.89% Paramount Equity Fund 11.19 11.48 19.57% Women's Investment Fund 91.29 93.63 7.91% 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 18.72% 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 1,086.28 1,087.41 7.40% FBN Heritage Fund 132.71 133.80 19.02% FBN Money Market Fund 100.00 100.00 18.48% FBN Nigeria Eurobond (USD) Fund - Institutional $109.11 $109.83 5.99% FBN Nigeria Eurobond (USD) Fund - Retail $108.13 $108.85 5.77% FBN Nigeria Smart Beta Equity Fund 149.71 151.85 32.95% 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 1.29 1.32 38.83% Legacy Short Maturity (NGN) Fund 2.76 2.76 7.43% 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 2,646.26 2,709.01 20.50% Coral Income Fund 2,287.58 2,287.58 8.71% 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 16.48% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 17.62% Vantage Balanced Fund 1.98 2.01 17.92% Vantage Guaranteed Income Fund 1.00 1.00 17.31%

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 1.08 1.10 8.85% Lotus Halal Fixed Income Fund 1,035.44 1,035.44 5.21% 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 13.24 13.35 37.00% Meristem Money Market Fund 10.00 10.00 17.88% 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 1.13 1.15 13.66% PACAM Fixed Income Fund 10.62 10.69 2.21% PACAM Money Market Fund 10.00 10.00 14.46% 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 122.60 124.08 20.65% 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 1.31 1.31 5.53% 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 2,092.61 2,105.08 14.30% Stanbic IBTC Bond Fund 160.47 160.47 4.23% Stanbic IBTC Ethical Fund 0.95 0.96 24.03% Stanbic IBTC Guaranteed Investment Fund 200.61 200.61 7.34% Stanbic IBTC Iman Fund 164.91 166.52 26.82% Stanbic IBTC Money Market Fund 100.00 100.00 18.46% Stanbic IBTC Nigerian Equity Fund 9,140.27 9,246.39 20.53% 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 1.28 1.29 8.07% United Capital Bond Fund 1.35 1.35 14.87% United Capital Equity Fund 0.82 0.84 0.38% United Capital Money Market Fund 1.16 1.16 11.26% 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 12.01 12.21 23.89% Zenith Ethical Fund 12.72 12.87 16.29% Zenith Income Fund 18.06 18.06 9.26%

REITS NAV Per Share

Yield / T-Rtn

11.41 127.54

1.01% 2.88%

Bid Price

Offer Price

Yield / T-Rtn

10.26 99.78

10.36 101.63

16.76% 31.66%

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

4.13 8.06 15.89 19.86 130.30

4.17 8.14 15.99 20.06 132.30

49.29% 14.57% 33.11% 24.36% 1.08%

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.

42

T H I S D AY WEDNESDAY JUNE 21, 2017

T H I S D AY WEDNESDAY JUNE 21, 2017

43

44

T H I S D AY WEDNESDAY JUNE 21, 2017

UTILIZATION OF FOREIGN EXCHANGE AS AT 16TH OF JUNE 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 134 135 136 137 138 139 140 142

CUSTOMERS DE-UNITED FOODS IND LIMITED HAFFAR INDUSTRIAL COMPANY LIMITED CBN CBN ONWUASOIGWE NZUBE CHRISTOPHER OSUIGWE GODWIN OSELOKA GARBA MUHAMMED MURTALA FOLAMI-ODUWOLE IDAYAT AYOKA IROEGBU JOHN UCHENNA ADEKOYA OLUJUWON OLATUNJI EGBUJOR KINGSLEY OSONDU OSIEGBU EMMANUEL WERGBA TERSOO MANIX EGBEOGU IBE DANIEL AJIDE KAZEEM BELLO NUHU BABAYE MUHAMMAD AMINU MUSA MUAZU IBRAHIM BUSIRI UMAR SALISU LIYAU GORA HALADU ABDULRAZAK INNOCENT UMERIE ALLAGOA DENNIS OJU MUHAMMAD USMAN RUFAI ONWU JOHNSON ONYEKACHI MUSA ADAMU MANASSEH UFOCHUKWU LINDA NKECHI DR ROBERTS ANYA NKATA EDEBIRI JOSEPH U AKINOLA BUKOLA OLUWASEUN ADEPOJU BABTUNJI HEZEKIAH HUSSAINI SA`ADU MOHAMMED IBRAHIM AL-FAKI AMITA UMAR HASSAN WAZIRI YUSUF ALIMI MUHYIDEEN NNAMANI FLORENCE A AHMADU OIZA OLUBUNMI SHEHU WARAH SULYMAN AKEREDOLU MARIAN MOHAMMED LIBERTY MAINA GALI IBRAHIM ALI kabiru tani pitiko OGARA MAIKASUWA ISAAC ERHABOR EMOKPAE AUSTIN OJERINDE ABOSEDE ISAH ALIU DANLAMI EZENWABASILI CHARLES CHUKWUMA UMOREN RITA N NWOGA OBIANUJU VIVIAN GAFAAR EVELYN OGHOGHO EJIOGU CHIBUZO MIRIAM ALAO ADESUWA LISA ABUBAKAR BICHI MUHAMMED AMINU ABDULLAHI ZILA DANLITI ALI MUHAMMED DAUDA UMAR DAURA MOHAMMED ABBA MUOGHALU AMARACHUKWU ANTHONY EZENWA NWOYE JOSEPH AKINJOBI OLUFEMI TUNDE LABBO UMAR AMADU ATTAHIRU LABBO BALARABA ALH ALIYU RILWANU OLANIYI OMOLARA MONIOLUWA MUHAMMAD BELLO SHUAIBU IBRHIM LIMAN EKPONG MONIQUE OSHAME ADAMU MOHAMMED KABIR AHMED WURNO ADAMU MUO BONAVENTURE OKAFOR EMELE OKECHUKWU GABRIEL ABUBAKAR UMAR USMAN MOHAMMED ABDULLAHI UWUIGBE UWALOMWA GALADANCI, TAUHIDAH ALIYU VIVIANA A ADERONKE PROF OGU OKEY CHARLES YUSUFF NURUDEEN OLAITAN YUSUF HARUNA UGOCHUKWU CHIMA IHEANYI FADEHAN OLUKEMI ADEBIMPE LAWAL OLUFUNKE OLUFEMI ALHAJI KOLOMI MUTAH UDORJI EBUKA MATHEW IKE MARY UDOCHI MARY RAHOLAT NOGERIA ENTERPRISES LIMITED EDUN ZAINAB BOLARINWA TUBONEMI IBIENE PATIENCE BAMGBOSE FAOSAT BOLANLE GOSIOHA DAMIAN CHUKWUEMEKA NZELU CALRA OGECHUKWU OGUNDERO OLUFOLAKE MOBOLADE OGUNDIPE TEMITOPE PAUL IHS TOWERS NG LIMITED HPZ LIMITED REPLACEMENT HPZ LIMITED REPLACEMENT HPZ LIMITED REPLACEMENT HPZ LIMITED REPLACEMENT HPZ LIMITED REPLACEMENT HPZ LIMITED REPLACEMENT UNITED BANK FOR AFRICA AMTRONIC LTD AMTRONIC LTD ULTIMATE PIONEER NIG LTD KAM IND MATRIX ENERGY CBN CBN NWIHIM STELLA OLUWATOSIN A SOLANKE OLATUNJI OJO VERA EZEANOWAI LUCY BROWNNY GOLD LTD ADEOLU ADEBOYE UWA J USEN DETOFOLA NIG LTD FRANEMM INDUSTRIES LTD SNC RINGARDAS OXFORD HYDROCARBON CBN CBN RAWLINGS O EFE ADEKUNLE M A F I PHILOMENA O OSHODIN SAMUEL P UMANAH RUSSAND CONSTRUCTION LIMITED AZE, GODSAVE ERIC IPEAYEDA OYEDELE JOHN K ABIODUN PETER N IWEGBU PETER N IWEGBU ODIDO, MANASSEH SHOLA OKI AMATARE EMMANUEL SAMUEL AKABOGU KEHINDE A AWOTUNDE SAMUEL AKABOGU OKOROMAH, PEACE MONOH ABDULLAHI SHEHU

AMOUNT (US$) 2,731.51 481.00 152,155.07 214,273.77 5,000.00 4,000.00 2,000.00 1,000.00 1,400.00 2,000.00 4,000.00 5,000.00 3,000.00 4,000.00 1,000.00 4,000.00 4,000.00 1,500.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 500.00 4,000.00 4,000.00 3,000.00 1,500.00 2,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 3,000.00 2,814.00 600.00 4,000.00 300.00 5,000.00 4,000.00 4,000.00 4,000.00 1,500.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 5,000.00 4,000.00 2,500.00 5,000.00 4,000.00 4,000.00 4,000.00 2,000.00 4,000.00 2,000.00 2,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,400.00 4,000.00 1,600.00 4,000.00 4,000.00 1,000.00 4,000.00 4,000.00 3,000.00 4,000.00 4,000.00 4,000.00 2,200.00 300.00 5,000.00 5,000.00 4,000.00 2,600.00 4,000.00 4,000.00 3,999.43 3,882.78 296,113.75 146,491.50 46,804.80 206,885.48 104,326.09 47,894.40 195,716.10 50,224.60 22,897.18 17,096.38 29,331.60 200,000.00 7,000,000.00 164,090.73 238,542.08 201.89 4,109.32 1,354.82 825.85 14,350.00 14,949.76 3,475.00 10,940.87 37,040.00 22,818.01 100,000.00 200,000.00 159,280.30 246,647.48 1,142.30 8,550.75 4,341.15 4,209.60 12,164.69 3,898.94 3,275.11 5,084.22 3,898.94 3,898.94 6,750.00 5,312.00 3,646.50 10,077.00 4,146.00 2,797.64 1,525.00

PURPOSE SPARE PART FOR MACHINERY INDUSTRIAL RAW MATERIALS IMTO TRANSFER TO CBN IMTO TRANSFER TO CBN BTA PTA PTA PTA PTA BTA PTA BTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA BTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA BTA BTA PTA PTA PTA PTA PTA PTA INTEREST PAYMENT ON LOAN AIR CONDITIONERS & SPARE PARTS HAUER THERMOCOOL MICROWAVE HAIER THERMOCOOL WASHING MACHINE CKD COMPONENTS, PARTS & RAW MATERIALS HAIER THERMOCOOL MICROWAVE AIR CONDITIONERS & SPARE PARTS BLOOMBEG TRADING TERMINAL SUBSCRIPTION TABLE TENNIS BALL PACKING MASKING TAPE THICKNESS AUTOMOTIVE SPARE PARTS COLD ROLLING STEEL MILL UNLEADED GASOLINE IMTO TRANSFER TO CBN IMTO TRANSFER TO CBN MEMBERSHIP FEE SCHOOL FEES LIVING EXPENSES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES CHEMICALS FOR INDUSTRIAL USE INDUSTRIAL MACHINERY BITUMEN 6000 MTS OF GASOIL IMTO TRANSFER TO CBN IMTO TRANSFER TO CBN SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES

RATE 333.00 305.50 357.00 357.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 373.00 374.00 374.00 374.00 374.00 374.00 374.00 315.50 306.15 306.15 306.15 306.15 306.10 357.00 357.00 335.50 360.00 360.00 360.00 360.00 360.00 360.00 360.00 371.00 371.00 306.20 306.20 357.00 357.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

DATE 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17

S/N 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210 211 212 213 214 215 216

CUSTOMERS JOMBO, ADENIKE CHRISTIANA ANTHONIA C OHAGWA EJALONIBU A TAJUDEEN EMMANUEL O UTOMAKILI FAJOBI SAMUEL AYODEJI EZIKPE EBUEME EZIKPE ADEWUSI JOHNSON MOROUNMUBO RABIU ABDULLAHI MAIKANO RABIU AISHA MAIKANO IKOGHODE JENNIFER OLOHIGBE OHUOBA ROBERT EFOSA UMAR MUSA BABA TANKO YUNUS ABDULSALAM SAEED OCHI ODE EMMANUEL ADEDEJI OLUMUYIWA NURENI PETER IYOBHEBHE KOMOLAFE OLUWASEUN EZEKIEL BASSEY EVELYN NKANGA SHETTIMA ABDULKADIR S MUDASIRU MONDIU OLARIBIGBE OMENUKO AMAETE IRENE ISHAQ MUKHTAR YAKASAI UCHE ORJI OBEKE KENNEDY CHUKWUDI MOMODU PETER AGODI OBUNIKE VINCENT ONYEBUCHI PERTEUA UGOCHI HON OKAFOR VITALIS OBIERIKA NENEOLUCHUKWU T AMINA BABAKAKA BASHIR MUSTAPHA HAMISU INUWA ANYANWU CHIDI VICTOR AMAECHI LEAH NMA IGWEGBE THEODORA OKWY IGWEGBE OSITA ANTHONY IBRAHIM M. MUHAMMED SULEIMAN BASIRA ABDULLAHI ALIYU RABIU KIRU SULYMAN TUNDE ABDULKAREEM NAFISAH TANKO IYA BAYUM MUAZU ATIKU SANUSI ZAINAB AMIRU SANUSI AMIRU JUSTICE SANUSI AMIRU MARIYA MUSAH FORTUNE OKELEYE OLUWASEUN FALILAT ENE PHILIPP LAWALE MODUPE ABUBAKAR GIDADO ORIKE AJUMOKE VULASI BARINEM PIUS ABDULLAHI TUKUR KADAGE OKEKEOCHA ROMANUS OGOCHUKWU MUSTAPHA ABDULLATEEF ALOKHA OSHIIOKENOYA ANSLEM JEMIRIYE OMOLARA TAWAKALITU OYEWOLE WOSILAT ROMOKE UDOH NKPOIKANA ANAIEKAN SULEIMAN BALARABE AHMAD ROBERT MICHEAL ANIEKAN SANI DABAI SURAYYA HADIZA SANI DABAI DABIA SANI ABDULLAHI EKEIGWE NGOZI LINA JAWA MUHAMMAD ZABAH ABDULLAHI A DANIEADEBAYO OLUYEMISI AJAKAYE ADEDEJ OLUGBENGA NNOROM FLORENCE IHUOMA NNOROM EMMANUEL NWABUIKWU MOHAMMED MIKAIL BELLO MUHAMMAD UMARU MUDI FATIHU TIJJANI MOHAMMED LAWAL OLAJUMOKE MUINAT

217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283

GABRIEL NDIDI HPE ADELEKE OLUFISAYOMI TEMILOLUWA OLAKULEHIN OLAGOKE NOJEEMDEEN AZUMI CYNTHIA APREZI ADENIGBA DAMILOLA REBECCA OLAIDE MICHEAL POPOOLA ABDULRAZAK ABDULSALAM EZEUDE FRANCIS CHUKWUEMEKA DABELS YUNIUS YAKUBU ERHABOR OSAIGBOVO MARGARET UMOH UDUAK GODWIN EZEIFE CHIDI CHUKWUDI PETER THOMAS AKINKUNLE ADUMEIN MOORE ASEIMO CHEMSTAR PROMASIDOR NIG LTD FRIESLAND CAMPINA WAMPCO SUPERIOR METAL MANUFACTURING CO LTD PROMASIDOR NIG LTD VEEVEE PAPERS PRODUCTS LTD OMO WOOD INDUSTRIAL LTD. ACTIVETED TECHNOLOGIES LIMITED UNITED BANK FOR AFRICA CBN CBN GARBA JODI MUHSIN HON SHAGARI AMINU SHEHU SAMBO HALIMA MOHAMMED HON GARBA ABDULLAHI IDRIS SHORINOLA ADEYEMI SUNDAY OGUNLANA OLUWASEUN.ARINOLA UJAH UCHENNA CHUKWUKA HENRY NNAMDI YUSUF KOLA ALASINRIN BELLO BALA MOHAMMED DURU CHIDIEBERE ALOYSIUS OLASUPO ALIMOT FUNKE OKEKE CAROLINE ADAKU IBRAHIM NAFISA ENEREGBU JANE IYAJI ABDULKADIR SANI ABDULKADIR MOHAMMED ABBA BALA OSENI OLAJIDE AHMED ALI DATTI ABUBAKAR ABDULRASHID DANLADI ABUBAKAR AYODELE ADEYEMI ISMAIL AJAYI DELE MUYIWA ODEBUNMI, TEMITAYO VICTORIA ALH.BARAU ABDULRAHMAN MEDUGU ULENDA IBRAHIM EBOHON-ERO OGBEMUDIA EGHOSA ONWUKA NNANNA OBUBA OKPALA BONIFACE EMEKA ADEDIPE OMOYEMI OMOLOLADE AKOBUNDU EMEKA C EGEMUKA KINGSLEY NNAEMEKA KADIRI WAHEED AYINLA AJUWON ADEMOLA TAOFIK ALOZIE FYNEBOY IHEAJUMBE AKWULE HANNAH NNENNAYA AZODOH NGOZI ROSEMARY C MOMODU NGUSEER ROSE ATIKA YAHAYA CLEMENT IMUETINYAN ALILE ARUAH SIMEON CHINEDU

AMOUNT (US$) 14,000.00 3,155.00 208.33 15,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 4,000.00 4,000.00 4,000.00 1,500.00 4,000.00 400.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,000.00 4,000.00 5,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,000.00 4,000.00 5,000.00 4,000.00 5,000.00 4,000.00 5,000.00 4,000.00 4,000.00 3,050.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 1,200.00 4,000.00 3,000.00 3,650.00 2,200.00 4,000.00 1,000.00 4,000.00 4,000.00 4,000.00 400.00 4,000.00 3,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 4,000.00 4,000.00 4,000.00 550.00 4,000.00 4,000.00 350.00 1,500.00 4,000.00 4,000.00 4,000.00 857.00 3,927.50 4,604.25 1,644.00 3,870.92 151.67 963.10 2,751.68 6,478.94 6,791.52 450.63 539.63 1,037.22 5,625.00 136,184.31 267,257.58 4,000.00 3,000.00 4,000.00 4,000.00 5,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 5,000.00 1,300.00 4,000.00 2,000.00 4,000.00 3,000.00 1,000.00 5,000.00 5,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 2,300.00 4,000.00 5,000.00 4,000.00 3,000.00 4,000.00 2,000.00 3,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,000.00 3,000.00 550.00

PURPOSE SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES PTA PTA PTA PTA PTA PTA BTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA BTA PTA PTA PTA PTA PTA PTA PTA BTA PTA BTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA BTA BTA PTA PTA PTA PTA BTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA

RATE 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

DATE 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17

PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA HYDROXY ETHYL CELLULLOSE- BERMOCOLL COWBELL INSTANT MILK POWDER FORTIFIED EVAPORATED FULL CREAM MILK PEAK GOLD HOT ROLLED STEEL COIL 2.00MM X 760MM COWBELL INSTANT MILK TESTLINER/FLUTING IN REELS INDUSTRIAL RAW MATERIALS HARD WARE LOAD BALANCERS BLOOMBEG TRADING TERMINAL SUBSCRIPTION IMTO TRANSFER TO CBN IMTO TRANSFER TO CBN PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA BTA BTA PTA BTA PTA PTA PTA PTA BTA BTA PTA PTA PTA PTA BTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA

360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 340.50 340.50 340.50 340.50 340.50 340.50 340.50 340.50 315.50 357.00 357.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17

S/N 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304 305 306 307 308 309 310 311 312 313 314 315 316 317 318 319 320 321 322 323 324 325 326 327 328 329 330 331 332 333 334 335 336 337 338 339 340 341 342 343 344 345 346 347 348 349 350 351 352 353 354 355 357 358 359 360 361 362 363 364 365 366 367 368 369 370 371 372 373 374 375 376 377 378 379 380 381 382 383 384 385 386 387 388 389 390 391 392 393 394 395 396 397 398 399 400 401 402 403 404 405 406 407 408 409 410 411 412 413 414 415 416 417 418 419 420 421

CUSTOMERS ODOH JULIANA NKECHI ODOH BENARD IFEANYI OPARA CHIKA MICHEAL EGHIANRUWA OSATO IMUETINYAN IVOWI OBI OYASEH GBEMRE GODWIN EJAETA ONOWAKPOKPO FELIX CRYSTAL OLASUMBO CHIGBU AZUBUIKE CHINEMEREM CHIGBU OKOYE GODWIN EMEKA NZEKWE UGOCHUKWU VALENTINE IHEKA GREGORY EZEUGO DURUAKU ANTHONY BENE CHIDI ILIYA MUSA MAGAJI AUWAL IBRAHIM ALHAJI ABUBAKAR KASIMU HUSSEINI ALHAJI ISA ATIBA RICHARD IKUMIDE IYOHA TONI OSAGBOVO HON BABA SHEHU HON OMALE HASSAN A MUHAMMAD NAIMA HAMISU BELLO AHMADU NWIGWE FRIDAY INNOCENT AKAMMUO PAULINUS CHUKWUDI FATUNBARIN JOKOTADE FATUNBARIN DAVID MAHMUD RAJI MUHAMMAD ABUBAKAR RABIU ALIYU ELESIE EMMANUEL ELESIE BROWN, TOKONI KADILO OGBOGHODO OSEBUN GLADYS ALADE TITILAYO OMOTAYO IYIOGWE PHILLIPPA THEODORA AKINBO T OLUGBENGA DOMMANNEZ NIGERIA LIMITED SUCCESS A AKINYOMI EMILY A KALEJAIYE OPELAMINA J DEREFAKA IBRAHIM Y BAWA IMI ATI GALADIMA INVESTMENT LTD FRANEMM INDUSTRIES LIMITED UDOUSORO ANIETIE SUNDAY JENDOR GLOBAL SERVICES LIMITED EMEM-CHIOMA PEDRO OLUBOLA SUSANNAH ADESOLA DANLADDY AND HAJIA OMORODION-IROWA OLAYEMI OLAOYE, RASHEED OLAYIWOLA NTOFON I BLESSING EMMANUEL M AMBELE ANSLEM OGBEIDE J JUMAC INT COMPANY LTD EBIMINIWEI POSIBI ALAPIKI ALAPIKI AMADI COMFORT OLUGBENRO O ODETUNDE GABRIEL O ASAOLU OLIVE DIGITAL GLOBAL LTD DANLADDY AND HAJIA JOHN O GUOBADIA FAMUYIWA TOYIN OMOTAYO SHADO OLUSHOLA HORATIO-DA-COSTA TOSFAD GLOBAL RESOURCES LIMITED NJOKU LINUS CHINENYE LUCKY BENJAMIN AKPOJEVWA NIGERIA PIPES LTD UNIKEM WESTERN METAL HAFFAR INDUSTRIAL COMPANY LTD VEEVEE PAPERS PRODUCTS LTD PROMASIDOR NIG LTD KELLOGG TOLARAM NIG LTD AMTRONIC LTD REPLACEMENT AMTRONIC LTD REPLACEMENT PARAS ENERGY AND NATURAL RES. DEV. LTD. MAMUDA AGRO ALLIED HAKAR ENGINEERING LTD MATRIX ENERGY MATRIX ENERGY CBN CBN SAGOE STELLA MODUPE ATUME BEMSEN DAVID OLAGOKE OLAKANMI OJO ODEBUNMI AKINTAYO TOLULOPE ODUEKE RAMOTA KIKELOMO LEWIS -ALLAGOA QUEEENETTE UGWU CHARLES CHUKWU EBUKA GIMBA BENA AHUNNA ADEGOKE KEHINDE ADEBOLU AKINYERA AKINBANJI OLUMUYIWA AGOMMUOH ANSELM NWAZUOKE OFOMA CHINENYE JUDE MUNIR HEBUS YUSUF ONWUBIKO JAMEELAH MOHAMMED EMIHE VERA NGOZI THE MAD PROMOTION PROF UMEBESE CAROLINE EMOSIOKE FAGBEMILA HASHIM AMAIFEOBU ONOCHIE BENJAMIN AMOS NNEKA MIRIAN ENUKORA GEOFFREY ONYIBO AMADI HIPPOLITE CHINOGONUM HAFSA ALI HASSANA YUSUF ADO KHADIJA IBRAHIM AISHA USMAN AMINU RAKIYA AUWALU OMONIYI AJIBOLA OMOLAJA VICTOR OZIAKPONO IBEH EMO UDOBONG NTIA OMONIYI IFUEKO YVONNE MBONU EBELE JUDITH ANAH PATRICK CHUKWUMAH AKINWANDE OLUSAYO AKINTADE OTOMEWO GODFREY ALALI OLASINDE TAJUDEEN AYODEJI UBOCHI ADINDU CALISTUS OSONDU JOSEPH OKEABARAM NWACHUKWU YVONNE-AMY UGOCHI MADUEME IFEANYI CLEMENT EKE GRACE KALU MIRIAN HOMASON OBE OLAGUNOYE STELLA OMOLABAKE BAMIDELEL SURAJUDEEN BABATUNDE DANLADI MUHHAMMED BABA LAWAN ALHAJI ISYAKA LUBABATU USMAN DAHIRU DAHIRU USMAN NAFISAT SHEHU USMAN DAHIRU ISHIEKWENE AZUBUIKE FRIDAY ADELERE ABIMBOLA ADEWUNMI OLURONBI ABIODUN ALEX SOGAOLU FUNMILOLA FOLASADE LADIPO MODUPE MARTHA ALICE

AMOUNT (US$) 4,000.00 4,000.00 4,000.00 2,400.00 1,600.00 4,000.00 4,000.00 5,000.00 5,000.00 4,000.00 4,000.00 5,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,100.00 4,000.00 1,500.00 1,500.00 4,000.00 550.00 5,000.00 1,500.00 4,000.00 4,000.00 2,000.00 5,000.00 5,000.00 2,286.00 2,614.00 3,270.33 3,954.00 14,836.90 6,267.45 1,216.34 2,659.23 2,855.80 3,921.00 5,391.38 5,620.10 7,842.00 6,535.00 5,228.00 4,705.20 2,650.00 5,178.81 1,498.00 600.00 15,000.00 10,235.13 3,806.00 2,800.00 700.00 1,686.00 1,230.00 3,126.00 8,280.44 4,750.00 5,178.81 9,787.05 14,999.61 5,368.28 1,855.21 1,261.82 11,604.96 41,050.00 240,000.00 2,305.98 600.00 1,196.58 7,130.71 2,775.87 20,115.52 10,559.32 3,956,940.00 200,000.00 100,000.00 1,107,800.00 4,331,000.00 144,657.62 199,411.34 4,000.00 2,000.00 4,000.00 2,850.00 4,000.00 4,000.00 5,000.00 1,650.00 1,500.00 4,000.00 4,000.00 5,000.00 1,100.00 5,000.00 4,000.00 1,000.00 2,000.00 5,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,000.00 4,000.00 4,000.00 4,000.00 300.00 5,000.00 5,000.00 200.00 3,700.00 250.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 571.50 2,286.00 1,751.10 2,636.39 659.10

PURPOSE PTA PTA PTA PTA PTA PTA PTA BTA BTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA BTA BTA PTA PTA PTA PTA SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES PVC RESIN SUSPENSION CRUDE DENATURED ETHYL ALCOHOL INDUSTRIAL MECHINERY AND SPARE PARTS SYNTHETIC TOW OF ACRYLIC FOR SPINNING TESTLINER/FLUTING IN REELS COWBELL INSTANT MILK POWDER FORTIFIED KELLOGG READY TO EAT CEREALS MASKING TAPE MASKING TAPE 17,355 METRIC TONS OF U.S NO.2 BASIC CHROME SULPHATE 73HP AGRICULTURAL TRACTOR DEUTZ-FAHR UNLEADED GASOLINE UNLEADED GASOLINE IMTO TRANSFER TO CBN IMTO TRANSFER TO CBN PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA BTA PTA BTA PTA BTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA BTA PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA

RATE 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 371.00 368.00 340.50 340.50 340.50 340.50 340.50 306.15 306.15 310.50 337.50 337.50 305.95 305.95 357.00 357.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

DATE 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17

SOURCES OF FOREIGN EXCHANGE AS AT 16TH OF JUNE 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47

SOURCE INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN SME CBN INVISIBLES CBN CBN AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

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AMOUNT (US$) 300,000.00 49.44 182.00 100.00 261.30 1,800.00 2,100.00 794.00 388.42 281.80 2,281.12 11,114.28 5,000.00 306.25 9,965.90 0.50 20,000.00 200,587.61 2,285.82 282,536.11 3,162.25 110.45 65.11 320.31 3,000,000.00 2,000,000.00 748,118.37 296,113.75 7,000,000.00 50,000.00 645.16 208.10 331.10 76.81 4,777.82 275.39 2,977.00 481.00 481.00 1,000.00 398.92 93.51 2,703.00 470.00 285.00 24,032.00 206,451.61

RATE 305.90 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 197.50 375.00 327.50 310.50 305.25 305.26 310.00 355.00 355.00 355.00 354.73 310.00 310.00 310.00 357.00 357.00 373.00 372.00 305.60 305.95 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00

DATE 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 12-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17

S/N 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94

SOURCE IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 216,278.44 2,509.20 314,680.99 3,375.12 330.78 165.39 2,535.98 116,129.04 56,698.52 59,858.01 100,000.00 200,000.00 175.00 275.00 140.00 945.02 170.00 3,300.00 481.00 481.00 170.00 10.94 15.46 1,500,000.00 209,971.24 2,402.49 325,289.74 3,573.56 937.05 124.94 2,741.94 165.24 219.11 539.78 4,331,000.00 100.00 2,975.00 277.76 38.07 300.00 140.00 495.72 500.00 270.00 2,100.00 50.00 307,000.00

RATE 355.00 355.00 355.00 354.65 310.00 310.00 310.00 310.00 310.00 370.00 305.70 305.70 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 337.00 355.01 355.01 355.00 354.61 310.00 310.00 310.00 310.00 310.00 310.00 305.70 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00

DATE 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 13-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 14-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17

S/N 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 138 139

SOURCE AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 267,700.00 275,300.00 179,312.94 2,266.14 352,486.80 3,856.64 54.18 165.24 22.07 110.33 562.68 33.29 20,960.00 20,090.00 240,000.00 50,000.00 10,000.00 444.29 700.00 691.92 598.73 69.32 980.00 4,980.00 220.00 87.22 200.00 315.79 30,674.84 130,000.00 165,161.29 3,956,940.00 190,704.10 2,172.73 263,063.77 2,818.02 1,256.80 172.82 1,644.51 110.37 311.80 220.74 331.11 55.19 92,903.23 140.00 96.11

RATE 310.00 310.00 355.00 355.00 355.00 354.64 310.00 310.00 310.00 310.00 310.00 310.00 370.00 370.00 367.00 305.95 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 306.15 315.00 310.00 310.00 355.00 355.00 355.00 354.66 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00

DATE 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 15-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 16-Jun-17 9-Jun-17 9-Jun-17

Africaâ&#x20AC;&#x2122;s global bank

45

WEDNESDAY JUNE 21, 2017 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Queen’s Speech Delayed As DUP Talks Continue The Queen’s Speech - in which the government sets out its legislative programme - has been delayed for a few days, the BBC understands.

The set-piece event had been due to take place on Monday 19 June.

The Conservatives are negotiating with the Democratic Unionist Party to get support for their minority government after losing their Commons majority in last week’s general election.

Labour said the delay showed the government was “in chaos”.

The Queen’s Speech is written by the government and presents an outline of its planned legislation for the next Parliamentary session.

BBC assistant political editor Norman Smith said the

decision to delay it revealed an “ambiguity” about what would go in it - with several manifesto pledges expected to be watered down or dropped - but also the need for the Tories to “nail down” DUP support.

A defeat for its Queen’s Speech would be tantamount to a vote of no confidence in the new minority government, he said.

One of the reasons for the delay is also believed to be because the speech has to be written on goat’s skin parchment paper, which takes a few days to dry - and the Tory negotiations with the DUP mean it cannot be ready in time.

Although it is rare for a Queen’s Speech to be delayed, when the Conserva-

Macron Headed for Huge Majority, But Low Turnout Concern French voters have put President Emmanuel Macron’s party on course for a crushing parliamentary majority, though a record low turnout in the first round of voting raised concerns Monday over the strength of his future mandate.

Projections showed Macron continuing his centrist revolution, with his Republique en Marche (Republic on the Move, REM) party and its ally MoDem tipped to win between 400 and 445 seats in the 577-member National Assembly in next Sunday’s second round.

Such a share would give Macron -- who founded his party just a year ago -- one of the biggest parliamentary majorities the modern French state has seen.

“France is back,”Prime Minister Edouard Philippe declared triumphantly, calling the result a vote for the president’s “confidence, will and daring”.

But government spokesman Christophe Castaner admitted the 49 percent turnout -- the lowest for six decades in such a vote -- was “a failure of this election” and that Macron’s team would need to reach out to those who stayed away.

- ‘Monochrome parliament’ Former prime minister Alain Juppe of the rightwing Republicans said the mass stayaway by voters was a sign of “deep malaise” in the electorate and that a clean sweep by Macron would be bad for democracy.

“The stakes of the second round are clear,”said the Bordeaux mayor, calling for Republicans voters to turn out in force on Sunday.“Having a monochrome parliament is never good for democratic debate.”

Ifop pollster Frederic Dabi said a virtual monopoly on power would up the ante for Macron.

“The French will expect results”, he warned.

Only four MPs -- two of them from Macron’s slate -- topped

the 50 percent mark needed for election at the first round.

Official final results showed his year-old REM and allies MoDem winning 32.32 percent, ahead of the right-wing Republicans and its allies on 21.56 percent and the far-right National Front (FN) of Marine Le Pen on 13.20 percent.

The Socialists and their allies secured just 9.51 percent while the radical left and communists were on 13.74 percent.

Macron’s camp is expected to significantly boost its score in Sunday’s second round with voters fed up with mainstream politics keen to try out his team, half of which is composed of rookie politicians.

They include Marie Sara, a retired bullfighter, who is running neckand-neck with FN stalwart Gilbert Collard in southern France, and star mathematician Cedric Villani running for office in the southern Paris suburb of Essonne.

The Republicans -- who had hoped to rebound from their humiliation in the presidential vote -- are shown trailing in second with a predicted 70-130 seats.

tives and Lib Dems formed a coalition government in 2010, it did not take place until 20 days after the general election while in 1992 nearly a month elapsed between polling day and the government announcing its new programme.

Theresa May will face questions later from her backbenchers for the first time since Thursday’s election.

They are expected to raise concerns about her

leadership style, and press for more details on talks with the DUP. Mrs May’s new cabinet is also meeting for the first time after a reshuffle.

Earlier Brexit Secretary David Davis predicted some parts of the Tory manifesto would have to be “pruned” following the election result.

Speaking on BBC Radio 4’s Today programme, Mr Davis said that while the Tory election campaign had been disappointing, Mrs

May was a “formidable prime minister” and accused people speculating about her leadership of “the absolute height of self-indulgence”.

But Labour leader Jeremy Corbyn has accused Mrs May of “squatting” in No 10, telling the BBC’s Andrew Marr Show on Sunday that the country “cannot go on with a period of great instability”.

On Sunday evening the PM finalised her cabinet with a small reshuffle, with

Michael Gove returning to a ministerial role as environment secretary.

Mr Gove, who took on Mrs May for the party leadership after David Cameron quit, was sacked by the PM in her reshuffle in July last year.

The Conservatives went from 331 seats to 318 in the general election, while Labour increased its number of MPs from 232 to 262.

Sessions to Testify as Republicans Prod Trump on Tapes Attorney General Jeff Sessions is preparing to face former Senate colleagues over his role in the controversy around ties between the Trump campaign and Russia, part of an escalating investigation into possible Russian meddling in the 2016 elections.

Sessions is scheduled to testify Tuesday before the Senate Intelligence committee and was due for sharp questioning. It is not yet known whether the hearing will be public or closed.

“I urge that the committee hold a hearing with the attorney general in the open,”Sen. Ron Wyden, D-Ore., a member of the committee, said on Sunday.

Fellow Republicans, meanwhile, pressed President Donald Trump to come clean about whether he has tapes of private conversations with fired FBI Director James Comey and provide them to Congress if he does — or possibly face a subpoena. It was the latest fallout from riveting testimony from Comey last week of undue pressure from Trump, which drew an angry response from the president on Friday that Comey was lying.

“I don’t understand why the president just doesn’t clear this matter up once and for all,”said Sen. Susan Collins, R-Maine, a member of the intelligence committee, referring to the existence of any recordings.

She described Comey’s testimony as“candid”and“thorough” and said she would support a subpoena of any tapes if needed.

Sen. James Lankford, R-Okla., also a member of that committee,

agreed the panel needed to hear any tapes, if they exist. “We’ve obviously pressed the White House,” he said.

Trump’s aides have dodged questions about whether conversations relevant to the Russia investigation have been recorded, and so has the president. Pressed on the issue Friday, Trump said “I’ll tell you about that maybe sometime in the very near future.”

Lankford said Sessions’ testimony Tuesday will help flesh out the truth of Comey’s allegations, including Sessions’ presence at the White House in February when Trump asked to speak to Comey alone. Comey alleges that Trump then privately asked him to drop a probe into former national security adviser Michael Flynn’s contacts with Russia.

Comey also has said Sessions did not respond when he complained he didn’t “want to get time alone with the president again.”The Justice Department has denied that, saying Sessions stressed to Comey the need to be careful about following appropriate policies.

“We want to be able to get his side of it,” Lankford said.

FOUND TITLE DOCUMENT THIS IS TO INFORM THE GENERAL PUBLIC THAT THE CERTIFICATE OF OCCUPANCY DATED APRIL 11, 1983 AND REGISTERED AS NO. 41 AT PAGE 41 IN VOLUME 1983B (C of O) IN FAVOUR OF INTERNATIONAL MERCHANT BANK NIGERIA LIMITED (IMB) WHICH HAD PREVIOUSLY BEEN DECLARED MISSING BY IMB IN THE YEAR 2004 HAS BEEN FOUND. THE SAID C OF O WAS FOUND IN MARCH 2017.

RELEVANT AUTHORITIES CONCERNED INCLUDING THE LAGOS STATE LANDS BUREAU, ALAUSA, IKEJA, LAGOS SHOULD PLEASE TAKE NOTE.

WEDNESDAY, JUNE 21, 2017Ëž T H I S D AY

46

NEWS

Ă?ĂĄĂ? Ă&#x17D;Ă&#x201C;Ă&#x17E;Ă&#x2122;Ă&#x153; Davidson Iriekpen Ă&#x2014;Ă&#x2039;Ă&#x201C;Ă&#x2013; davidson.iriekpen@thisdaylive.com, 08111813081

GAVI: Nigeria Has Highest Number of Under-immunised Children Globally FG inaugurates câ&#x20AC;&#x2122;ttee on implementation of National Integrated Infrastructure Masterplan Ndubuisi Francis Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; Nigeria has the highest number of under-immunised children in the world, displacing India with over one billion population which hitherto occupied the rather uninspiring spot, according to the Global Alliance for Vaccines and Immunisations (GAVI).

GAVI is chaired by the former Coordinating Minister and Minister of Finance, Dr. Ngozi Okonjo-Iweala.

The Chief Executive Officer of GAVI, Dr. Seth Berkley, who disclosed Nigeriaâ&#x20AC;&#x2122;s status yesterday, said India previously maintained the unenviable position of having the highest number under-immunised children three years ago.

He spoke during a meeting with the Minister of Budget and National Planning, Senator Udoma Udo Udoma, in Abuja â&#x20AC;&#x153;India, over the last three years, improved its coverage dramatically and now Nigeria has that unenviable position,â&#x20AC;? he said, and pledged GAVIâ&#x20AC;&#x2122;s assistance to work with Nigeria to turn things around.

The meeting which also had in attendance the Minister of Health, Prof. Isaac Adewole, and Permanent Secretary of Ministry of

Finance , Dr. Mahmoud Isa-Dutse, essentially centred around ways to improve immunisation access to Nigeria children.

The GAVI boss estimated routine immunisation coverage rate in Nigeria to be around 50 per cent, describing it as unflattering. â&#x20AC;&#x153;This means that if we donâ&#x20AC;&#x2122;t improve on that, itâ&#x20AC;&#x2122;s going to be 700,000 Nigerian children that are going to die if we donâ&#x20AC;&#x2122;t improve in next five years. This can be prevented by simple immunisation. â&#x20AC;&#x153;We would like to fix it and move forward in a way that is sustainable. This is a critical way to continue to avoid polio and polio programme is done through campaign. Hopefully, polio will be completely eliminated here in Nigeria but there has to be a sustained coverage to make sure it doesnâ&#x20AC;&#x2122;t come back. To do that is to have high routine immunisation. So in this meeting we would be discussing yellow fever, missiles, meningitis and strong relationship will be cultivated. â&#x20AC;&#x153;You have five years transition out of GAVI support. It is very important to see a strong commitment. The board of GAVI understands the challenge that exists in Nigeria because of low

coverage rate and is willing to consider some slight changes in policy for Nigeria. But that is going to be dependent on having a plan in place; a finance that is sustainable and good working relationship. â&#x20AC;&#x153;Nigeria has had high coverage in the past and this is something that is doable, and I hope this becomes a priority, and it becomes a priority, we will celebrate together. You may not be able to have health facility in every local government area but you can immunise your people, I have no doubt about that,â&#x20AC;? Seith said.

Seth, who recalled that his organisation and Nigeria had enjoyed cordial working relationship in the past , said a break occurred midway in the relationship. â&#x20AC;&#x153;We have a very long and important partnership with Nigeria. Itâ&#x20AC;&#x2122;s being characterised with more than $1billion commitment but also, there is a working relationship. There was actually a break over the last few years in the relationship but we are now in the process of trying to repair. Itâ&#x20AC;&#x2122;s important to do that because vaccine is critical. â&#x20AC;&#x153;For every dollar that is spent

on vaccine, we get benefit of $44 in return compare to infrastructure projects where we see one to three , or one to four return. In terms of investment in health, this is single largest component one can do â&#x20AC;&#x153;Unfortunately, Nigeria is not performing at the level of its peers. Itâ&#x20AC;&#x2122;s disappointing knowing the incredible, the science that exists here . The coverage rate in Nigeria is estimated around 50 per cent for routine immunisation. This means, if we donâ&#x20AC;&#x2122;t improve on that, itâ&#x20AC;&#x2122;s going to be 700,000 Nigerian children that are going to die if we donâ&#x20AC;&#x2122;t improve in next five years. This can be prevented by simple immunisation,â&#x20AC;? he stressed.

Earlier in his remarks, Adewole recalled the assistance the country had benefited from the global agency â&#x20AC;&#x153;GAVI has done so much, for this country and at the last count we have crossed $1 billion support with respect to GAVI support over the years. Itâ&#x20AC;&#x2122;s quite huge. The support from GAVI has actually taken bulk of load off Nigeria. â&#x20AC;&#x153;Many of us do not even

know how these vaccines get to our children but then while doing this, GAVI does not only support vaccines supply, it supports health systems strengthening because for us to deploy vaccines it can only be done properly within the context of health system and the support from GAVI is so crucial,â&#x20AC;? the minister said.

Identifying funding as the biggest challenge, the minister expressed the hope that the 2017 budget recently signed into law will address the challenge.

Commenting.

Udoma conveyed government,â&#x20AC;&#x2122;s appreciation for GAVIâ&#x20AC;&#x2122;s support in the area of immunisation.

Meanwhile, the federal government has inaugurated a technical working group (TWG) for the development of the first operational plan to implement the National Integrated Infrastructure Masterplan (NIIMP).

The committee was inaugurated by the Permanent Secretary, Ministry of Budget and National Planning, Mrs. Fatima Mede, in Abuja.

The TWG, with membership drawn from the relevant agencies

of government, academia and private sector is to work on the first operational plan which is expected to cover the 2017 to 2020 fiscal periods.

An investment requirement of $3 trillion is required between 2014 and 2043 is needed to cover energy, transport, Information and Communications based on the NIIMP template.

Mede, while inaugurating the TWG_ noted that as a long term plan, the NIIMP would be implemented under a five-year operational plan that would allow for periodic review would enable the government to translate strategic goals to objectives and align priorities with the recently launched Economic Recovery and Growth Plan (ERGP) Her words: â&#x20AC;&#x153;The first operational plan, which is to cover the period 2017-2020, will serve as capital allocation framework across sectors for annual budgeting. It will therefore identify priority infrastructure projects of ministries, departments and agencies that will have catalytic effect on economic growth of the nation and elaborate on enablers for implementation.â&#x20AC;?

FG: ERGP Implementation Plan will Not Affect Budget Performance Ndubuisi Francis Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; As the implementation of the 2017 budget effectively takes off, the federal government has declared that its performance will not in any way be hampered by the yet-to-be- released implementation plan of the Economic Recovery and Growth Plan (ERGP).

In a telephone chat with THISDAY, Mr. Akpandem James, the Media Adviser to the Minister of Budget and National Planning, Senator Udoma Udo Udoma, said the budget as a fiscal instrument has its full provisions, including projects, allocations and implementation mechanism as well as monitoring and evaluation (M&E) strategies.

At the public presentation of the 2017 budget in Abuja last Monday, Udoma had stated that work on the ERGP Implementation Plan (ERGPIP) was ongoing, adding that the plan would guide the implementation of the budget.

He said: â&#x20AC;&#x153;We are also working on the ERGP Implementation Plan (ERGP-IP) which will guide the implementation of the 2017 budget as well as other budgets over the medium term. â&#x20AC;&#x153;It is my expectation that as we remain strategic and bold in our implementation process we will achieve the objectives set out in the ERGP.â&#x20AC;?

However, while the implementation of the budget has effectively commenced, the ERGP-IP is still in the mills.

Asked if the non-release

of the ERGP-IP would not hamstrung the execution of the 2017 Budget based on the ministerâ&#x20AC;&#x2122;s pronouncement, James said the budget itself has inbuilt provisions to work irrespective of whether or not the ERGP-IP is there or not.

He noted that this was why the budget has a detailed breakdown of projects, allocations and revenue projections, among others, as well as monitoring and evaluation mechanism.

But he added that the ERGPIP would be all-encompassing, including timelines for the execution of projects and much more.

Although the 2017 Budget was prepared before the finalisation of the ERGP, it drew extensively from the policies set out in the ERGP. It is based on three core strategic objectives, which are to: restore and sustain growth; invest in the people, and a globally competitive economy.

It is an ambitious plan that seeks to achieve a seven per cent economic growth by the year 2020.

In collaboration with the private sector and other stakeholders, the Ministry of Budget and National Planning is currently putting together the implementation plan of the medium-term blueprint, which hallmarks the flagship programme of the current administration led

by President Muhammadu Buhari.

WE HAVE DONE OUR PART

L-R: Lagos State Attorney General and Commissioner for Justice, Mr. Adeniji Kazeem; Member, Committee on Federal Government Assets in Lagos, Mr. Femi Falana; Governor Akinwunmi Ambode; and Chairman of the committee and former Federal Commissioner for Works and Housing, Alhaji Femi Okunnu, during the submission of the committeeâ&#x20AC;&#x2122;s report to the governor at the Lagos House, Ikeja.... yesterday

NBS: GDP by Expenditure Declined by 2.4% in Q3 2016 Ndubuisi Francis Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; In real terms, market price gross domestic product (GDP) declined year-on-year by 2.4 per cent in the third quarter of 2016, which was the lowest year on year growth rate in the rebased period (2010 onwards), the National Bureau of Statistics (NBS) said in its Nigerian GDP report (Expenditure and Income Approach).

The report stated that in the third quarter, all components recorded year-on-year declined in real terms other than changes National Disposable Income recorded stronger growth than

GDP in the third quarter of 2016, both in real and nominal terms.

This was largely as a result of what the report attributed to â&#x20AC;&#x2DC;Other Current Transfers (net) which increased substantially year-on-year.

Year-on-year growth in domestic compensation of employees was sill negative, but recovered significantly relative to the rate in the previous quarter, which was the lowest on record.

The report noted that the Nigerian economy fell into a recession in the first half of 2016 (according to the conventional definition of two consecutive

quarters of negative growth), and this continued into the third quarter.

The GDP component to record the lowest growth rate was General Government consumption; attacks on oil pipelines affected oil output, which in turn impacted on government revenues, but weaker economic conditions also led to lower than anticipated tax revenue.

Investment (Gross Fixed Capital Formation) also declined substantially.

Market price GDP declined slightly more in real terms than basic price GDP, by 2.4 per cent

compared to 2.3 per cent in the third quarter of 2016. â&#x20AC;&#x153;This was as a result of a larger decline in net taxes on products, of 5.0 per cent, which is the difference between the two measures,â&#x20AC;? the report added.

The GDP expenditure approach measures the final uses of the produced output as the sum of Final consumption, Gross Capital Formation and Exports less Imports.

Consumption of fixed capitalâ&#x20AC;&#x201D;a measure of depreciation of assetsâ&#x20AC;&#x201D; comprises the difference between GDP and Net Domestic Product (NDP).

47

WEDNESDAY, JUNE 21, 2017˾ T H I S D AY

NEWSXTRA

Dangote: Nigeria Loses N140bn to Apapa Gridlock Weekly Jonathan Eze President of Dangote Group, Aliko Dangote, has lauded the decision of the federal government to reconstruct the failed Apapa-Wharf road as its grim state serves as both an embarrassment to the country and a huge loss of close to N140 billion to the government on a weekly basis.

Dangote who spoke to select journalists yesterday said: “The economy loses more than N20 billion daily.

It affects businesses across the country. All our operations in the hinterland in Ilorin and in Kano are operating at 40 per cent maximum capacity.”

Lamenting the state of roads in the country, Dangote said: “Today, there is no linkage road going from South-west to the North. You have to go all the

“Both Dangote and Flour Mills are pumping in over 2.5billion for two kilometres double lane on each side making a total of four kilometres.”

He further explained that the biggest job “is drainage, because that is what is destroying the road. We will make sure this problem is sorted out once and for all. This thing should not be allowed to happen. We started discussion with the government over one year and we are happy that we have been given the opportunity to finally fix it.”

The federal government last weekend handed over the troubled road to Dangote Industries Limited (DIL) and Flour Mills of Nigeria (FMN) for immediate reconstruction with concrete overlay.

The memorandum of understanding (MoU) on the construction of the road was signed by the federal government, DIL, NPA and the FMN. The Minister of Power, Works and Housing, Babatunde Fashola, signed the agreement for the handover of the road on towards making the 2019 general behalf of the federal government, election better than that of 2015. while Hadiza Usman, Managing He added: “We now have 45 Director, NPA, and Joseph political parties. We used to have 40 political parties, but five have just been registered, while there are 103 pending applications. We don’t know how many more we are going to register, but we are a multi-party democracy and all associations that meet the criteria for registration will be registered.”

In his remarks, Kjemprud commended INEC and Nigerians for the successful conduct of the 2015 general election.

He also lauded the commission for the steps taken so far since then to improve the electoral process.

The ambassador said Norway was prepared to do everything it could to assist the commission deliver on its mandate.

Kjemprud also invited the INEC Chairman, Yakubu, and his team to observe the Norwegian parliamentary elections and undertake a study tour of his country between September 6 and 13 2017.

way through Ajaokuta, Obajana, Lokoja and you have to go by that uncompleted road Obasanjo started 13 years ago.”

Commenting in his resolve to personally get involved in the Apapa-Wharf road reconstruction, he said: “Because it is very embarrassing! We can’t just sit and have a road like that which it is the heart of the trade of the country. More than 60 per cent of our country’s import and exports come through the port and we leave it un-attended.

That is why we started on our own. Flour Mills said they would join us, but now government changed the design because they want all the cables and pipes underground and to have a more robust solution.”

To help in bringing the cost down, he explained that he forced his company to do it at zero profit. According to him,

Number of Registered Voters Hits 71m, Says INEC Onyebuchi Ezigbo ÓØ ÌßÔË The Independent National Electoral Commission (INEC) yesterday said the country’s voting population had risen to 71,40,000.

Chairman of INEC, Prof.

Mahmood Yakubu, who gave the update on the ongoing nationwide Continuous Voter Registration (CVR) exercise while receiving the Ambassador of the Kingdom of Norway, Mr. Kjemprud, in his office, also said there are 103 pending applications for political party registration.

He stated that the commission was working towards making the 2019 general election better than that of 2015.

A statement issued by the Chief Press Secretary to INEC chairman, Rotimi Oyekanmi, quoted the INEC boss as saying that there were 70 million registered voters currently on the voter register, with additional 1,040,000 so far registered since the commencement of the CVR exercise on April 27, 2017.

He promised that the commission was working

inclement rainy season. I appeal for patience and cooperation.”

Speaking at the MOU signing ceremony held at the Conference Hall of Area B Command of the Nigeria Police, Apapa, Makoju said the group was moved by the deplorable state of the road which informed the need to look for like-thinking partners to effect repairs and salvage the road.

According to him, the deplorable state of the road has impacted negatively on businesses, activities and lives of people within the locality.

He explained that the state of the road crippled economic activities as people spend whole days in traffic losing precious work hours Makoju opined that the twokilometre road to the gate of Apapa is vital to the nation’s economy and described it as the national economy’s artery.

He commended the managing director of the NPA, whom he said put in extra efforts to ensure the handing over of the road for reconstruction as the project has been on ground for over a year.

The new road, he said, would be concrete-based in contrast

to laterite base and has a life span of between 30 years and 50 years.

He described the road reconstruction as a higher form of corporate social responsibility as Dangote Group is not asking for tax rebates.

According to him, businesses need to engage with host communities through corporate social responsibility projects to ensure sustainability.

He said: “Here at Dangote, we have built houses, new towns, hospitals, schools, roads, markets and awarded scholarships in the communities where we have our operations but this is a higher form of corporate social responsibility.

This project is a higher form of intervention on a national level, intervening in provision of critical infrastructure.”

However, he tasked government to do more in terms of providing a conducive and enabling business environment for businesses to thrive, stressing that if the environment is conducive and right, businesses will thrive and do more in terms of interventions in national infrastructure.

PERFECT HOST

FG to Procure Four New Locomotives for Abuja-Kaduna Rail Line The Minister of Transportation, Rotimi Amaechi, yesterday said the ministry would purchase four new locomotives in August to enhance movement of goods and passengers on AbujaKaduna rail route.

The minister said this at the sideline of the final inspection of the Kaduna Inland Dry Port in Kaduna.

“The plan of the government is to ensure that the AbujaKaduna rail serve Nigerians better and movement be more regular.

“By July or August, we will introduce three to four other locomotives to enhance the service,” he said.

Amaechi, according to the News Agency Nigeria (NAN), pledged that the government

Makoju, Honorary Advisor to Dangote and Gbedebo, signed for their respective organisations.

The three organisations are embarking on the project as part of their corporate social responsibility (CSR) to Apapa, where they all do business.

The construction work to be handled by AG Dangote, a civil construction company, and joint venture between Dangote Group and AG of Brazil would utilise concrete slabs as against asphalt, common with road construction in this part of the world.

AG Dangote is not new to road construction, they have successfullyconstructed concrete roads in Ibese, Ogun State, and currently working on roads in Obajana, Kogi State, and also in Benin City, Edo State.

Managing Director and Chief Executive of AG Dangote, Ashif Jumar, in a chat with the media also said: “We are building a four kilometer concrete dual carriage road that has a life span of over 40 years. It is a rigid pavement road of 250 millimetres thickness with solid underlying materials.

We have already mobilised to site, but our major challenge is the chaotic Apapa traffic and the

would make all rail lines in the country functional soon.

“We know we are having challenges with the rail; the initial projection was that, we are going to deploy 100 locomotives to the country but when they made assessment of the entire narrow gauge in Nigeria they found out that even 70 was going to be too much.

“But they have agreed to deploy 20 locomotives and 500 wagons, we are looking at some finishing touches before it gets to the cabinet for approval.

“We are also making arrangement to also include coaches to serve Nigerians who do business and passengers between Lagos, Kano, Port Harcourt and Maiduguri,” he said.

L-R: Bayelsa State Governor, Hon. Seriake Dickson; Political/Economic Section Chief, United State Consulate General, Lagos, Mr. Thomas Hines; Political Officer, US Consulate General, Lagos, Maria Davydenko, when the envoys visited Government House in Yenagoa....yesterday

African Media Initiative Announces Election of New Board Chair The Board of AMI has elected Mr. Wale Aboderin as the new Chair of the organisation.

He will be taking over from the maiden chair, Mr. Trevor Ncube, Executive Vice-Chairman of South Africa’s Mail and Guardian, who has steered the organisation since its inception in 2008.

The organisation thanked Ncube and his early co-Chair, Charlayne Hunter-Gault, for the valuable support and guidance of AMI during its formative years.

Aboderin is a Nigerian businessman is the Chairman of PUNCH Newsapers with headquarters in Lagos.

PUNCH publishes three print

and two digital newspapers, and runs four major print presses across Nigeria.

Aboderin trained as a commercial pilot at the Burnside-Ott Flying School, Florida, United States.

He was appointed chairman of the company’s board of directors in 2012.

His tenure has witnessed groundbreaking changes in the editorial quality, management and fortunes of PUNCH, including a hugely successful redesign, the launch of several digital initiatives and the newspaper’s win of several local and international awards.

A popular sports enthusiast

in Nigeria, Aboderin is the founder and owner of Dolphins Basketball Club, a leading African female basketball club, with local and continental honours.

He is a former chairman of the Lagos State Basketball Association and a former member of the Nigerian Handball Federation.

“I thankfully accept this role and I believe AMI should help African media bridge the communication gap between policymakers and the citizens to allow for a two-way feedback engagement,” Aboderin said.

“During my tenure I will champion the AMI cause everywhere and ensure

that Africans stop being suspicious about homegrown initiatives and support this organisation.”

Mr. Eric Chinje, CEO of the African Media Initiative, stated: “With more than two decades of direct involvement in media, Aboderin brings a wealth of experience to the organization. He will surely help AMI refocus its work around the four major pillars of activity around which a new strategy is being developed: strengthening media capacity (thematic specialisation); content development and promotion; research; and performance incentives for media professionals.”

48

WEDNESDAY, JUNE 21, 2017˾ T H I S D AY

NEWSXTRA

Ambode Demands Return of Federal Assets in Lagos Links recovery to reflation of state’s economy Gboyega Akinsanmi Lagos State Governor, Mr. Akinwunmi Ambode, yesterday asked the federal government to return all the disused lands, buildings and disputed quarters it acquired in the state, saying the assets “are no longer in use for the purpose the apex government acquired it.”

Consequently, the governor said the recovery of the federal assets was strategic to reflating the economy of the state and improving its GDP, saying it had become imperative that the state government “pursues this particular project to a laudable conclusion.”

Ambode made the request at the State House yesterday after receiving the report of the Special Committee on Federal Government Assets in Lagos State he set up to determine the status and titles of the disused lands, buildings and disputed quarters are still occupying in the state.

The committee, which was chaired by former Federal Commissioner for Works, Chief Femi Okunnu, comprised a human rights activist, Mr. Femi Falana, a SimmonsCooper partner, Mrs. Victoria Alonge and Permanent Secretary, Lagos State Lands Bureau, Mr. Olabode Agoro, among others.

Specifically, the governor constituted the committee to put an end to the jurisdictional disagreement between the federal and state governments over the disused lands, buildings and disputed quarters to which the former still laid claim within the territory of the latter.

According to the committee, some federal government assets in dispute include Federal Secretariat, International Trade Fair Complex, Banana Island, Osborn Foreshore, Festac Town, Satellite Town and the whole of Ikoyi with boundary at Lagos

Canal standing between Ikoyi Island and Lagos Island.

But after receiving the committee’s report yesterday, Ambode commended the committee for its painstaking efforts, noting that its efforts in ensuring that the state government recovers its lands, buildings as well as disputed quarters were very much appreciated.

He therefore, explained that the report of the committee “has come at a time when the state government is in dire need of space for development projects that would improve the socio-economic wellbeing of its residents in line with the socio-economic realities of present times.”

He also explained the significance of the disused assets in the state, thus linking it to one of the strategies his administration “can actually use to reflate its economy and improve its the GDP of Lagos.

It has become imperative that we must pursue this particular project to a laudable conclusion.

“We hope this initiative will end the long standing dispute between the federal and state governments over the disused lands, buildings and disputed quarters in various parts of the state.

“These assets are no longer in use for the purposes for which they were originally released to the federal government. We are hopeful this report will get favorable response from the federal government now that these assets are no longer in use for the purposes they were acquired.”

Ambode, specifically, charged the Minister of Works, Power and Housing, Mr. Babatunde Fashola, to ensure that the federal government release all the disused and disputed assets to the state government.

He noted that Fashola was

a passionate advocate of this issue during his tenure as the Governor of Lagos State.

He added that the former governor is now a representative of Lagos State in the Federal Executive Council (FEC).

After submitting the report, Okunnu expressed sadness over the current status of the Federal Secretariat in Lagos and other abandoned assets of the federal government in the state, noting that the assets be returned to the state government for effective and proper usage.

He said the assets “are not only quarters, but the land on which these buildings are situated. We have tried to argue that the whole of Ikoyi with boundary at Lagos Canal standing between Ikoyi Island and Lagos Island.”

He added that title to the whole of the Islands “is vested in the Government of Lagos State when Lagos became Crown Colony. Title to the whole of Ikoyi including Osborn Foreshore, Banana Island is vested in the government of Lagos State.

We have other areas we have covered.

“The state owned Festac Town. The title to the town is vested in the government of Lagos State. Federal Housing Authority (FHA) is the tenant of the Government of Lagos State indeed. Also, the title to the Trade Fair site is vested in Lagos State.

“The government of Lagos State acquired the Land of the Trade Fair site. But the federal government gave a promise to

pay the state compensation which was to be paid to the original owners of the land.

That compensation was not paid,” Okunnu noted.

He added that title to Satellite Town too “is vested in Lagos State. It is the federal government which should prove title to any land, which it claims to own in Lagos State. The land on which the International Trade Fair Complex was situated was acquired for the purpose of the trade fair, but the place had been turned into market.

“Federal Secretariat gives me sadness because I built it when I was the Federal Commissioner for Works.

The land upon which federal secretariat is situated is part of the Crown land, which is now state land.

“The title to the Crown land is vested in Lagos State. But Brigadier Mobolaji Johnson agreed to release that land to the federal government when they wanted to build federal secretariat.

“We hope that discussions between Lagos State Government and federal government on hand over of federal lands, state lands within Lagos and disuse or surplus lands which federal government, especially defence and prisons are still occupying in Lagos are resolved.

“Large parcels of the land are now surplus to what is required under the land. We hope that discussions between Lagos State and federal governments will be held to settle this palaver once and for all.”

DRY PORT IN KADUNA

L-R: Managing Director, Inland Container Nigeria Limited, Alhaji Ismail Yusuf; Kaduna State Governor, Mallam Nasir el-Rufai; Executive Secretary/ Chief Executive Officer, Nigeria Shippers’ Council, Hassan Bello; and Minister for Transportation, Hon. Rotimi Amaechi, during the final inspection tour of the Kaduna Dry Port in Kaduna....yesterday

UK Parliamentary Election: FG Congratulates Britons Crude Oil Price Falls to Seven-month Low on Global Oversupply of Nigerian Descent Olawale Ajimotokan ÓØ ÌßÔË The federal government has congratulated all the seven Britons of Nigerian ancestry, who won election to Westminster at the recent British parliamentary election.

The congratulatory letters were written by the Permanent Secretary, Political Affairs), Office of the Secretary to the Government of the Federation (OSGF), Olukunle Akindele.

Akindele described their victory as a reward for selfless service to their community and indeed humanity.

In a statement signed by Mohammed T. K. Nakorji, the Assistant Director, (Press) OSGF, Bamgbose said: “Like most Nigerians, I have followed your career keenly, and I am confident that in you, your community has made an

excellent choice considering your track record. Your election is heartwarming and will definitely be a source of inspiration to all Nigerians at home and in the Diaspora, particularly, women.”

He concluded by saying that the government of President Muhammadu Buhari and indeed, Nigerians, were proud of their achievement.

The elected MPs on the platform of Labour and Conservative Parties are: Kate Osamor, Edmonton; Chi-Chi Onwurah, Newcastle Central; Chuka Umunna, Streatham; Fiona Onasanya, Peterborough; Bim Afolami, Hitchen and Harpenden; Helen Grant, Maiden stone; and Olukemi Olufunto Badenoch, Saffron Walden.

Ejiofor Alike áÓÞÒ ËÑÏØÍã ÜÏÚÙÜÞÝ

members, including Nigeria and Libya, have been exempt from cutting and their rising output is Despite the global cuts in crude seen to be undermining efforts oil supply to the international led by Saudi Arabia.

While Saudi Arabia has market by the Organisation of Petroleum Exporting reduced output, Nigeria and Countries (OPEC) and non- Libya are pumping more to OPEC members, crude oil the market.

Libya’s oil production rose prices yesterday dropped to seven-week low as production more than 50,000 bpd to 885,000 increases from key producers bpd after the state oil company undermined the efforts of the settled a dispute with Germany’s cartel to reduce the glut in the Wintershall, a Libyan source told Reuters. oil market.

Nigerian oil supply is also Crude prices have also fallen by about 15 per cent since May rising with exports of Bonny 25, when OPEC agreed to extend Light crude set to reach 226,000 its output limits by six months bpd in August, up from 164,000 bpd in July, according to loading until March 2018.

OPEC and its allies had programmes.

OPEC’s pledge was to cut promised to restrict output until at least the end of the first some 1.2 million bpd, while quarter of next year as part of the other producers including efforts to drain surplus supply. Russia agreed to bring the Despite the deal, some OPEC total reduction to almost 1.8

million bpd.

But production in the United States, which is not part of the deal, has jumped 10 per cent over the past year to 9.33 million bpd, effectively undermining efforts to curb global supply.

Reuters reported that oil prices fell to seven-month low yesterday after news of increases in supply by several key producers, a trend that has undermined attempts by OPEC and others to support the market through reduced output.

Global benchmark, Brent dropped $1.29 to a low of $45.62 a barrel, its weakest since November 15, 2016, exactly two weeks before OPEC and other producers agreed to cut output by 1.8 million bpd for six months from January.

It was later in the day, trading around $45.81, down $1.10, while the US crude fell $1.27 to $42.93, its lowest since November 14,

before recovering to around $43.10.

Both benchmarks are down more than 15 per cent since late May, when OPEC, Russia and other producers extended limits on output until the end of March 2018.

OPEC supplies jumped in May as output recovered in Libya and Nigeria, both exempt from the production reduction agreement.

US oil production has been rising quickly this year, feeding the global glut. Data at the weekend showed a record 22nd consecutive week of increases in US oil drilling rigs.

However, Saudi Arabia’s Energy Minister, Khalid al-Falih said the oil market was heading in the right direction and just needed time to rebalance, the London-based newspaper Asharq al-Awsat reported on Monday.

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15 Opposition Parties Plan Coalition To test might in Anambra, Ekiti elections Onyebuchi Ezigbo Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039;

coalition, the National Chairman of ACPN, Alhaji Ganiyu About 15 opposition political Galadima, who confirmed parties have made a bid to float the alliance, clarified that â&#x20AC;&#x153;the a coalition as part of strategies arrangement did not include to defeat others in upcoming presidential election but governorship elections where elections in the country.

The coalition said it would some of the parties involved test its might in the Anambra, do not have strong presence.â&#x20AC;?

Talks on the coalition which Ekiti and Osun States elections before the 2019 general election. was launched in Abuja proposed Operating the platform to adopt and field candidates at known as Coalition of Political governorship and presidential Parties (COPP), the alliance of elections.

According to Galadima, the 15 registered political parties, includes, the Allied Congress alliance, codenamed â&#x20AC;&#x153;Mega Party of Nigeria (ACPN), Coalitionâ&#x20AC;? is not a merger but an Better Nigeria Progressive electoral alliance for participating Party (BNPP), Democratic registered political parties who Alternative (DA), Democratic have agreed to field separate Peoples Congress (DPC), and candidates for other elections Democratic Peoples Party (DPP), except the governorship and among others.

One of the leaders of the

Boko Haram Invades Borno Highway, Kills Eight Michael Olugbode Ă&#x201C;Ă&#x2DC; Ă&#x2039;Ă&#x201C;Ă&#x17D;Ă&#x;Ă&#x2018;Ă&#x;Ă&#x153;Ă&#x201C; Boko Haram insurgents may have returned to Borno highways as they ambushed a convoy of about 140 vehicles along the Maiduguri-Damboa road, killing eight persons.

A reliable source in Maiduguri told THISDAY that the insurgents invaded the erstwhile nest of the militants, Damboa-Biu Road which is surrounded by the notorious Sambisa forest, at Abbari village about 16 kilometres to Damboa town, at about 9:30a.m.

The source, who chose to be anonymous, said two district heads, one from Chibok and another in Uba emirate, as well as a police vehicle conveying the corpse of a policeman for burial at his hometown, were in the convoy of about 140 vehicles.

According to the source, many travellers were made to make a forced reversal back to Maiduguri The police in the state have however, chosen not to respond to enquiries to confirm the attack as at the time of going to the press last night.

Damboa-Biu Road is no stranger to such attacks as sometimes last year, soldiers were escorting a convoy of about 200 vehicles along the same road.

Due to insecurity along the axis, travellers on the road moving to Gombe, Adamawa and Taraba States had to be escorted by a military escort.

They are made to gather everyday at Molai, at the outskirts of Maiduguri, with an average of 150 vehicles daily escorted by a combined force of the army, police, men of the civil defence corps and the Civilian JTF. As the escort takes them through the insurgentsâ&#x20AC;&#x2122; heavily infested terrain on the lonely highway, they are often left to continue the journey after being escorted to Damboa.

The escort return to Maiduguri with another set of vehicles that would have gathered at Damboa, with the road always close at 6p.m. daily.

presidential polls.

A statement signed by one of its promoters, Chief Perry Opara, said the coalition is in response to the high divisiveness in Nigeria and lack of credible opposition party in Nigeria since after 2015 general election.

Opara who is the National Chairman of National Unity Party, condemned the level of division in Nigeria and urged politicians and members of the non-governmental, faith based and socio-cultural organisations to be careful with their utterance and to preach peace, instead of hate and division.

He asked Nigerian politicians who have something to hide to desist from parading themselves for elective offices, while credible

men and women who are courageous are encouraged to start now to educate the masses on their blueprint for elections.

Opara said no party shall be excluded from participating in the coalition, adding that only good candidates who have programmes that can provide dividends of democracy would be presented to Nigerians.

He further said the coalition is ready to collaborate with any like-minded registered political party irrespective of its previous electoral fortune. He predicted that in 2019 general election no one simple party can win at first ballot. â&#x20AC;&#x153;It will be difficult to meet the constitutional two third states equipments. The only way to

success in 2019 is for like-minded political parties to come together to select credible, capable and popular candidates who can win elections,â&#x20AC;? he said.

While explaining the modalities for the collaboration, Opara said: â&#x20AC;&#x153;At the governorship elections, the winning party shall form a government of state unity (GSU) while at the presidential election the winning party shall for a government of national unity (NUG) with a view of accommodating participating parties in the coalition thereby reducing winner takes all syndrome which does not allow smaller political parties to grow in Nigeria. â&#x20AC;&#x153;We shall not exclude any

party that agrees with our article of faith. 2019 election shall have emphasis on candidates and personalities rather than parties. Nigerians are now aware that most politicians promise â&#x20AC;&#x153;heaven on earth when they are seeking public office only to renege on their campaign promises when they are elected. Nigerians are now aware and know better. â&#x20AC;&#x153;We shall test the might of the coalition in the Anambra, Ekiti and Osun States elections before the 2019 general election.

Future elections in Nigeria will no longer be about political parties or Godfatherism. It will be about the personality of the candidates and the issues being canvassed.Â

WEDNESDAY, JUNE 21, 2017˾ T H I S D AY

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Ohanaeze Youths Reply Arewa, Demand Referendum in Igbo Land Christopher Isiguzo ÓØ ØßÑß Barely 48 hours after the Arewa Youths wrote to the acting President, Prof. Yemi Osibanjo, demanding that Igbo be granted their wish to have Biafra Republic, the Ohanaeze Youth Council (OYC) yesterday

raised the alarm that the lives of Igbo people in every part of the northern Nigeria are now at a very high risk.

Accordingly, the OYC has forwarded a petition to the United Nations, (UN), requesting a special protection for the Igbo people presently residing at

FG: We Did Not Scrap CRK from Curriculum Senator Iroegbu ÓØ ÌßÔË

reorientation and the needed positive social reengineering The federal government has in Nigeria.”

She said: “The Religious said contrary to reports making rounds in the media, Christian Studies and other components Religious Knowledge (CRK) of the Religion and Nation was never scrapped from the Values Curriculum under basic secondary school curriculum. education are distinct. They It said Christian and Islamic are subject listing under one religious studies are still retained group that should be taught in the new secondary school and studies separately based curriculum but as a subset on existing school time table.

“At this juncture the council of Religion and National reiterates emphatically to Values (RNV). implementers, The Director of Press, Federal curriculum Ministry of Education, Mrs. desk officers, educational Chinenye Ihuoma, in response inspectorates, publishers, public to THISDAY enquiries yesterday, and other end users that the said: “The subjects under RNV Christian Religious Studies and curriculum are grouped only Islamic Religious Studies are as subjects that are aimed at distinct subject that must be inculcating moral, ethical, social taught and studied separately and national values in learners.” in schools.”

She also stressed that “no Ihuoma while recognising that there were changes in the child should be coerced or characteristics of the revised compelled to learn or taught nine-year Basic Education any religious studies curriculum Curriculum (BEC), said the in school but only one out of the sub-themes are still recognised two that restrictively relates to as CRS and Islamic Religious the belief system professed by the child and his/her parents.”

Studies (IRS).

Speaking further, Ihuoma Even though she did not particularly debunk the said: “The alternation is not concerns raised by the Christian from the minister but purely Association of Nigeria (CAN) from the National Council on that while IRS was elevated as a Education.

“It is just as the council stand alone subject to be offered together with Arabic language as has said that History should alternative to French Language be a subject of its own at the while CRS was downgraded as basic level in the first nine years. Now, a new subject has a sub-topic under RNV. She listed the composition been introduced, called Religion of the nine-year BEC discrete and National Values. It is a subjects under RNV to include: fusion of religion and civics.”

She however admitted not CRS, IRS, social studies, civil education, and security to have seen the details of the latest changes, but noted education.

Ihuoma said the new that in a case where one have curriculum “are geared subject combinations in the same towards learning outcomes period, everyone will attend that would affect behaviour lectures that correspond with change to bring about value their own religion.

Mountain Top Varsity to Hold Lecture The third lecture of Mountain Top University (MTU) Ibafo, Ogun State, will hold on June 22 at the university’s multi-purpose hall by 10 a.m.

The lecture which will be delivered by the former Executive Secretary, National Universities Commission (NUC), Prof. Peter Okebukola, under the chairmanship of the Vice-Chancellor of the University of Ibadan, Prof.

Abel Olayinka, is tagged: ‘More Investment, More Harvest: Agenda for Enhancing Social Responsibility of Nigerian Universities.’

In a statement issued by the Deputy Registrar, Mr. Peter Kosoko, the Vice Chancellor

of the university, Prof. Elijah Ayolabi, noted that the lecture is aimed at challenging Nigerian universities on the need for agenda-setting discourse that would ultimately enhance social responsibility to the society.

Ayolabi, in the statement added that the event would also stimulate economic empowerment, financial independence and entrepreneurial prowess of Nigerian graduates especially with the dismal economic global climate.

It added that the lecture is open to all and sundry and guests are expected to be seated by 9.30a.m as the entire event is timed.

various parts of northern Nigeria. They also demanded the immediate commencement of steps towards a referendum in Igbo land to finally determine the fate of their people as to whether they still have the desire to remain in Nigeria or not.

The OYC in the letter titled: ‘Call For Emergency In Nigeria: Our Two-Point Demand’ which was made available to journalists in Enugu, said anything short of a referendum to free Ndigbo from Nigeria will be unacceptable.

The letter was signed by the group’s National President, Okechukwu Isiguzoro; Okwu Nnabuike (National Secretary), Arthur Obiora(Deputy National President) and Obinna Adobe (National Publicity Secretary), and copied to the Osinbajo, the United States Embassy in Nigeria, the United Kingdom High Commission, the Commonwealth, the Amnesty International among others

organisations.

“It is with great concern that we alert the international community of the looming genocide against the Igbo in the northern part of Nigeria, occasioned by a well-orchestrated, carefully thought-after plot by the northern hierarchy, hiding under the Arewa Youths.

“Their latest ranting, which they packaged as a letter to the acting president has left no one in doubt as to their motive: a grand design to annihilate the Igbo race. This, they want to achieve so easily through the well-packaged false history, which they have now dished out to gullible minds in order to create a passion hatred for the Igbo in the minds of their people and thereby easily achieve theOctober 1 planned mayhem against our people.

“How else could one justify their attempt to stab history in the back by labelling the first

military coup in Nigeria as an Igbo coup? How else could people twist history than their justifying the pogrom against the Igbo between 1966 and 1967, which eventually led to the civil war? In what measure can one justify the insult on our late leaders, in the persons of late Gen. Aguiyi Ironsi and late Col. Chukwuemeka Odumewgu Ojukwu?

“In Igbo land, we have respect not only for the elders, but more so for the dead and it if is for that purpose that we chose not to go further into this matter. Truth can never be changed. However, we must let these youths and their pay-masters know that contrary to their claims, our people have made much more sacrifices for the unity of this country, starting from the later Owelle of Onitsha, Nnamdi Azikiwe. “To also justify their planned killing of every Igbo man remaining with the Biafra agitation amounts to hypocrisy of the highest magnitude. May we

remind them for over a decade now, the Boko Haram did not just declare war on the Nigerian state but has gone ahead to seize territories, killing thousands and rendering millions homeless, yet nobody has branded it an action signed by the entire North. Besides, like the Arewa youths pointed out in their hypocritical letter, the Biafra agitators have their demand for self-determination found in so many charters, including that of the UN, for which Nigeria is a signatory to. Where does the Boko Haram derive its own right to engage in mass murder? “Our point here, however, is not on the propriety or otherwise of the attempt by Boko Haram to take over every Nigerian territory or the Biafra agitation, but the difficult attempt by the Arewa youths to link every Igbo man with the activities of the IPOB. If it is so, suffice it to say that all of them are members of the Boko Haram sect,” Ndigbo noted.

AWARDS FOR HARD WORK

L-R: Publisher/CEO, Marketing Edge Publications Ltd, John Ajayi; his wife, Modupe; Chairman, Troyka Group, Mr. Biodun Shobanjo, presenting a Lifetime Marketing Achievement award to the former Marketing Director of Guinness Nigeria and Founder/CEO, Advantage Consult, Mr. Ekwunife Okoli; with Managing Partner, Market Space, Mr. George Thorpe, during Marketing Edge’s National Marketing Summit and Brands and Advertising Excellence awards in Lagos.... recently.

Appeal Court Dismisses EFCC’s Application against Fayose Victor Ogunje ÓØ ÎÙ ÕÓÞÓ

Federal High Court in Ado Ekiti had last year December Fayose’s The Appeal Court sitting in 13 unfrozen Ado Ekiti yesterday dismissed domiciliary accounts in the an interlocutory application bank at Ado Ekiti branch, brought before it by the leading to the withdrawal Economic and Financial of the sum of N5 million Crimes Commission (EFCC) from the same accounts by seeking to restrain the Zenith the governor shortly after the Bank Plc. from allowing judgment.

Consequent upon this, the Governor Ayodele Fayose’s access to his accounts EFCC had filed an appeal against the judgment and domiciled in the bank.

The account was June last prayed the court to freeze year frozen over allegation the account on the grounds that it contained the sum that the money was a proceed of N2.999 billion out of the of crime and pending the $3.2 billion suspected to have dispensation of justice on been distributed through the the matter to prove Fayose’s office of the former National innocence Delivering his judgment, Security Adviser (NSA), Col. the Appeal Court panel Bello Dasuki (rtd).

The EFCC is also requesting comprising Justices Ahmed a stay of execution of the Belgore, Fatima Akinbami and judgment of the lower court. Paul Elechi, in a unanimous dismissed the Justice Taiwo Taiwo of the verdict

application.

The judgment read by Justice Akinbami said: “No valid appeal has been made against the judgment of the lower court which unfroze the account. Again, the judgment the EFCC was appealing against was not attached to this application “EFCC also failed to show sufficient evidence that the money in the account was a proceed of crime as claimed.

In doing this, we expect the EFCC to have showed evidence that the plaintiff has been tried for criminal offence before for it to assume that he can receive proceed of crime “We also found that there was suppression of facts to get the account frozen in the first instance. It was also noted that Fayose in line with Section 308 enjoys

immunity and his personal account can’t be frozen.

“Having not done all these as demanded by law and equity, as those facts were facts that would assist in exercising the court’s discretion either for or against as it is an application that is predicated on discretion of the court, the application is hereby thrown out.”

Reacting to the judgment, Fayose’s lawyer, Chief Mike Ozekhome (SAN), described the judgment as landmark and conveyed a clear message that the EFCC is gradually becoming a lawless organisation.

Ozekhome said the anti-graft agency would continue to lose cases it filed against suspects in courts until it divorces itself of selective justice and taking biased position in the politics of the country.

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Tension in Finance Ministry as Workers Protest over Welfare Package Ndubuisi Francis ÓØ ÌßÔË

Our source added that rumours had filtered in that For two consecutive days, the minister had put the normal activities were responsibility of implementing paralysed at the Ministry the workers’ demand for of Finance headquarters, welfare package on the laps Abuja as workers embarked of the Permanent Secretary, on a protest over what they Dr. Mahmoud Isa-Dutse and described as ‘unresolved the Director, Finance and Accounts (DFA), Mr. Moses welfare’ package.

The protest, which came Chimereze Okpo.

The rumour, THISDAY about the same time a similar ignited a one was held by the workers gathered, last June, started Monday and spontaneous reaction among the workers, who rushed to continued yesterday.

A member of staff who the sixth floor of the building was involved in the protest, occupied by both top officials.

Chanting solidarity songs, told THISDAY that as early as 8a.m. on Monday, the the workers thronged the workers, guided by the offices of Isa-Dutse and Okpo leadership of the Joint Union and demanded to have their Council (JUC) had converged demands met.

However, efforts to placate on the main gate of the them could not assuage their ministry.

According to him, their grievances, and the workers plan was to barricade the occupied the sixth floor for gate and stop the minister, the most of Monday.

Yesterday, the protests and Mrs. Kemi Adeosun, from gaining access to her office siege on Isa-Dutse and Okpo until she addressed their continued, culminating in the management of the ministry demand.

However, according to him, inviting a detachment of the minister, who got wind of policemen.

The police personnel the protest had to go straight to the Ministry of Foreign numbering about 12 were Affairs headquarters, venue stationed at the main gate of the public presentation of with about five pick-up vans also packed near them. the 2017 budget.

Our correspondent was able to gain access into the premises of the ministry in the morning, but was barred when he returned around 2pm.

The private security personnel at the gate said they were under instruction not to allow anyone access.

At the notice board of the ministry were two internal memos.

First, was the one issued on June 16, 2017 by the Director, Human Resource Management, Obisesan B.M, captioned ‘Re-Welfare Package to All Staff.

The circular said: “following days of dialogue between the management and the workers’ leadership over staff welfare for Eid-elFitr, the management had

resolved to provide to all staff, irrespective of grade level, one 25 kilogramme of rice each as well as a four litre of vegetable oil each.

Arrangements, the circular added, would be made to supply the approved items at the ministry’s premises, and advised all staff to “adhere to the content of the circular and maintain industrial peace.”

However, by Monday (June 19), another circular, also issued by Obisesan was pasted on the notice board, with the caption, “Proper Conduct of Staff Within the Office Premises.”

The circular referred workers to the earlier circular of June 16 with respect to staff welfare, adding: “I wish to further inform staff of the need for them to

conduct themselves properly within the office premises in conformity to Public Service Rule No. 030301 which categorise unruly behaviour as an act of misconduct which may lead to termination or retirement of an officer from the service.

“I am to warn that disruption of official activities by person or group of persons as was observed today will no longer be tolerated.

According, all staff are advised in their own interest to desist from any such action that may lead to the disruption of work in the ministry,” the circular warned.

It urged all staff or group with legitimate grievances to channel same through appropriate administrative process as enshrined in the

public service rules.

However, rather than tone down the workers’ protest, the warning gingered them to continue their protest Tuesday.

Some of them who volunteered information, said their welfare benefits, including training had been stopped, adding that the tone of the circular was somehow combative.

As at 3p.m. yesterday when THISDAY visited, the workers were still occupying the sixth floor.

Efforts to speak with the JUC leadership was futile as our correspondent was prevented from entering the ministry.

Personnel of the information unit of the ministry also declined to speak to THISDAY, describing it as an internal affair.

DSS Releases Capital Oil MD, Ifeanyi Ubah Paul Obi ÓØ ÌßÔË

was said to have been released ‘unconditionally’ by the DSS. The Department of State Services Ubah was arrested by the (DSS) yesterday released the DSS some weeks back over Managing Director of Capital economic sabotage and diversion Oil and Gas, Mr. Ifeanyi Ubah, of petroleum products to the after several weeks in detention. tune of N11 billion.

According to sources, Ubah The DSS had on May 7, 2017

arrested the Capital Oil MD, accusing him of “allegations by the NNPC that Ubah sold its 82 million litres of petrol valued at over N11 billion without appropriate authorisation by the corporation.”

The DSS had also in March demanded that Ubah reports daily to its headquarters, pending the conclusion of its investigation.

Ubah could not be reached for comments with regards to his release.

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IPOB Berates Osinbajo over Alleged Threat to Jail Biafra Agitators Christopher Isiguzo ÓØ ØßÑß The Indigenous People of Biafra (IPOB) yesterday berated the Acting President, Yemi Osinbajo, for allegedly declaring that Biafra agitators are violating provisions of the constitution through their quest for self- determination.

The group described the statement as “distasteful” and unexpected from somebody like the acting president.

In a statement signed by its spokesperson, Emma Powerful, and made available to journalists in Enugu, IPOB insisted that they have not violated any known law, let alone the 1999 Constitution which they described as “General Abdulsalami Abubakar Constitution.”

According to them, they are merely exercising their Godgiven and inalienable right to self-determination and therefore berated the acting president for allegedly threatening to jail those exercising their right to self-determination under laws adopted and ratified by Nigeria.

They maintained that the alleged threat confirms again the widely held view that legal practice in Nigeria was one ‘almighty joke.’

“For such a statement to escape the lips of a learned fellow like Osinbajo confirms the widely held view that African leaders lack the mental capacity and discipline to operate a constitutional democracy in a modern world. If the corrupt

ruling class in Nigeria cannot distinguish between those rights that are sacrosanct, such as freedom of association and freedom of expression under which IPOB operates, then the entire political edifice in Nigeria is a monumental mess.

“It is very shameful that a professor of law cannot situate the Nigeria constitution within the context and meaning of the right to self determination as recognised in international law.

Somebody should please draw the attention of Professor Yemi Osinbajo to the provisions of the Africa Charter on Human and Peoples Rights which Nigeria ratified and went ahead to domesticate into her local laws,” he said.

They further drew the attention of the acting president to, “the landmark Nigerian Supreme Court judgment on the case of Abacha Vs. Fawehinmi.

United Nations charter on the rights of indigenous people and African charter which was ratified and signed by Nigeria is still in place till today and overrides the Nigerian Constitution on the rights for the indigenous people to the self determination.

“We are challenging Osinbajo to show the whole world how, where and when IPOB committed this offence he alluded to since the inception of the current phase of the agitation.

“The criminal political cabal that led President Buhari astray

Ita Giwa Demands Return of Diverted Relief Materials for IDPs Sunday Okobi Senator Florence Ita Giwa has demanded the return of all the relief materials alleged to have been diverted from the Bakassi people in Cross River State, accusing the state governor, Professor Ben Ayade, of being behind the recent protest against her.

The relief materials, according to her, were donated by the National Refugees Commission (NRC) to the people of Bakassi to assuage the effects of a fire outbreak on their abode Dayspring Island in Bakassi Local Government Area.

At a press conference held in Lagos, the former presidential aide accused the state governor of being behind her ordeals, stating that “all is because of my efforts towards alleviating the plight of my people in Bakassi, and also, I was instrumental to uncovering a dastardly plot of diverting relief materials I sourced from the National Refugee Commission for victims of a fire outbreak in Dayspring Island in Bakassi by unscrupulous state officials.”

According to her, “Recent events in my home state of Cross River have given me and all well-meaning Nigerians cause for concern. As you might have heard, there has been a

sustained and coordinated campaign to demonise my person and make rubbish of all my efforts.

“The so-called protests are a follow up to a spurious press release issued by an equally flippant entity that calls itself Coalition of Bakassi indigenes.

Their statement contained a litany of lies, calculated to demean and defame my person.”

She equally accused former Bakassi council area Vice Chairman, Udeme Effiong Okon, who she said reported the fire outbreak to her, as the official who diverted a large quantities of the relief materials to his private residence at Calabar, and was later recovered and evacuated by the police and is now held as exhibits of a crime.

Also, while debunking some of the allegation against her that led to the protest, the former senator said: “The outrageous assertion that I was a signatory to the ceding of Bakassi ancestral land to Cameroon exposes their mischievous ignorance. Only heads of states can be signatory to such sovereign international treaties and the last time I checked, I have never been President of Nigeria.

on the issue of Biafra agitation are at it again. By assuring Osinbajo that threatening language, mass arrests, illegal detention, killings and brutal crackdown will frighten IPOB into submission, this same group of corrupt criminals are setting up Osinbajo to fail the same way they caused (president) Buhari’s failure.

“If Osinbajo continues to heed their evil counsel by

using threatening language when addressing IPOB he will end up a failure like Buhari.

Nigeria must understand how ready we are to go to prison.

They should build more illegal detention facilities because we cannot stop agitating for our right to self determination until the Nigerian government accepts the need for a date for referendum on the question of Biafra.”

They were of the view that Osinbajo should have consulted superior legal minds to advice him before coming on air to make “such misleading” comments, stressing that the Nigerian Constitution and its provisions cannot supersede international charters and treaties freely entered into by the Nigerian state where such treaties appear to render null and void the obnoxious provisions of

the Nigerian Constitution.

“We are warning the vocal few rented saboteurs and uneducated public commentators in Nigeria to stop the perverse insinuation that Biafra agitation is all about war. IPOB is not asking for war, rather what we are asking for is self determination and the only way to achieve that is through the internationally recognised instrument of referendum or plebiscite,” the group insisted.

CSR IN ACTION L_R: General Manager, Operations Support, Seplat, Chukwumah Igelenyah; Orodje of Okpe kingdom, Major General Felix Mujakpero; CEO, Seplat, Austin Avuru; and Director, Local Content, Delta State Ministry of Oil and Gas, Mr. Aweka Avwenaghagha, at the grand finale of Seplat’s Eye-can-see programme in Orerokpe, Delta State...recently

Wike: Why FG is Shielding Amaechi from Prosecution Ernest Chinwo iØ ÙÜÞ ËÜÍÙßÜÞ Rivers State Governor, Nyesom Wike, has declared that the federal government is shielding former governor of the state and Minister of Transportation, Chibuike Amaechi, from prosecution because he financed the 2015 general election for the All Progressives Congress (APC).

He also berated the former governor for allegedly superintending over a vicious insecure system that led to the assassination of prominent Rivers indigenes.

The governor also stated that the failure of the former governor to fund the operation of security agencies for over six months during his second term contributed to the degeneration of security in the state.

Wike, who spoke yesterday during a special appearance on Channels Television Sunrise Programme, pointed out that the former governor’s closure of courts for two years negatively affected security in the state as security agencies were overwhelmed by the challenges of managing suspects while Rivers people were denied avenues to ventilate their grievances.

He said: “It was under Amaechi that I was almost assassinated when I was his Chief of Staff. Under him, Ignatius Ajuru was assassinated, Charles Nsiegbe was assassinated. Yet he says the

state is not as secured as it was during his term. The courts were shut down for two years. No despotic leader in the world had ever shut down courts. Amaechi entered the Guinness book of records for this notorious act of denying people access to justice.”

The governor stated: “Justices came to say that Amaechi came to procure judgment. If it is a federal government that is sincere, they will not want to do anything with Amaechi.

“In APC, once they lose a case, they berate the judiciary.

It is only when they win that they praise the judiciary.”

The governor added: “Amaechi used part of the $309 million proceeds of the Rivers State Gas Turbine sale to fund the APC which is why the Party rallies around him to shield him from prosecution in spite of his several indictments.

“The presidential panel has not invited us to substantiate our ownership of the Ikoyi billions and hasn’t released the report as well. So we are waiting for that before taking our next steps.”

On Rivers State Golden Jubilee, he said the celebration was a huge success.

He said: “After the successful completion of the Rivers Golden Jubilee, We look forward to attracting an investment of $300million into the state in the next three years.

“We used the Rivers Golden Jubilee to showcase the state as

a tourist Haven and conducive for business. We also honoured foreigners who believed in us and invested in the state.”

The governor said the extant law which stipulated that all former governors were entitled to the state award was the reason why Amaechi was nominated.

“The Rivers State Honours Law was created by the Peter Odili government and every former governor was expected to receive an award. It was the basis for considering Amaechi for such irrespective of public outcry. But the recipient rejected it as a poisoned chalice taking away the moral burden on the state. The law is now being amended to ensure its merit is emphasised,” he said.

Meanwhile, the Peoples

Democratic Party (PDP) in the state has accused Amaechi of using incitements as a strategy to win sympathy from Rivers people.

The Chairman of the PDP in the state, Felix Obuah, said this in a statement signed by his Special Adviser on Media and Publicity, Jerry Needam, in reaction to Amaechi’s recent comments on the security situation in the state.

According to the state PDP boss, Amaechi has adopted as a strategy the penchant to cause unnecessary stir whenever there is relative peace and stability in the state aimed at deceiving impressionable minds into seeing him as a redeemer he has never been, is never and will never be.

Two Abandoned Babies, One Boy Found in Osun Yinka Kolawole ÓØ ÝÙÑÌÙ The Osun State Government has announced that it found two-newly born babies and a three-year-old-boy in different towns in the state.

Two newly born baby-girls were found at Oke-Ako and Moro areas of Ikire in Irewole Local Government of the state yesterday.

Also, a three-year-old boy was found under a tree at Imesile yesterday.

A statement from the Ministry of Social Protection, Sports and Special Needs, signed by the Coordinating Director, Mrs. Grace Adegoke, said the two babies were abandoned while the three-year-old boy was found under a tree at Imesile by a good Samaritan who took him to the police.

The statement urged members who have information on the found babies to report to the nearest police station or the ministry.

WEDNESDAY, JUNE 21, 2017Ëž T H I S D AY

53

CRIME&PUNISHMENT

Soldiers, Policemen Reportedly Killed by Armed Bandits in Benue George Okoh Ă&#x2DC; Ă&#x2039;Ă&#x2022;Ă&#x;Ă&#x153;Ă&#x17D;Ă&#x201C; An undisclosed number of policemen and army personnel were at the weekend in Abaji in Katsina/Ala Local Government Area of Benue State allegedly killed by suspected gang members of a criminal gang leader, Terwase Agwaza, also known as Gana.

Some of the policemen were said to have been killed during an operation that led to the arrest of the second-in-command of the gang known as â&#x20AC;&#x2DC;Bishopâ&#x20AC;&#x2122;.

According to the state Commissioner of Police, Bashir

Makama, following the massive manhunt for the wanted gang leader, the police had moved into Abaji to follow up on information of the planed murder and kidnap of selected persons in the area by the gang when they were attacked after the arrest of Bishop.

He said the police were on a massive manhunt for Gana and in the course of the operation, which took place last Saturday, his very close ally, Bishop, was captured at Abaji in Katsina/Ala. â&#x20AC;&#x153;During that attack, one of our men (name withheld) was killed. But because we

donâ&#x20AC;&#x2122;t shoot in public places, we had to be careful to avoid collateral damage and the killing of innocent persons in such a situation. â&#x20AC;&#x153;But our operation still continues and we will not be deterred by this development.â&#x20AC;?

The commissioner who allayed fears of the people of the area that innocent people

could be arrested by security agencies in the course of the operation said. No innocent person should run from the community for fear of being arrested. â&#x20AC;&#x153;If people in that area are running and moving out in droves as being claimed, it is simply because of the fear of the unknown and maybe the fear

of the consequence of hiding wanted criminals tormenting the area and indeed the entire state. â&#x20AC;&#x153;We will certainly not go after any innocent person, we know those we are after and not innocent persons.â&#x20AC;?

The police commissioner said in the course of their investigation, they discovered

that the gang had planned to kill the son of a Katsina/Alabased businessman who was last week rescued by the police and also plotted to re-kidnap the businessman.

He appealed to the people of the state to desist from shielding members of the gang because doing so would certainly not be in their best interest.

Police Dismiss Two TrafďŹ c Wardens for Extortion Paul Obi Ă&#x201C;Ă&#x2DC; Ă&#x152;Ă&#x;Ă&#x201D;Ă&#x2039; The police yesterday dismissed two traffic wardens: Musa Muktari and Shuaibu Suleman, attached to Wuse Police Division, FCT Abuja Command for corrupt practice.

According to an Assistant Commissioner of Police, Abayomi Shogunle, â&#x20AC;&#x153;this followed an Orderly Room trial at the Provost Department, Force Headquarters Abuja in which both wardens were found guilty of abuse of office, soliciting and receiving a bribe contrary to Paragraph C sub (IV), (VI) and (II) of the 1st Schedule of the Police Act and Regulation CAP 370 of 1990. â&#x20AC;&#x153;On May 30, 2017, a motorist, real name withheld, came to the Public Complaint Rapid Response Unit (PCRRU) FHQ Abuja and reported that while driving his vehicle on May 29, 2017 (12:30p.m.) along Wuse market road, he was accosted by two traffic wardens who accused him of â&#x20AC;&#x153;beating traffic lightâ&#x20AC;? despite the fact that he did not. â&#x20AC;&#x153;That the wardens started demanding for bribe before they will allow him go and they led him to an Automated Teller Machine (ATM) not far

from the scene where he was forced to make a withdrawal of N15,000 from his account which he gave to the traffic wardens. â&#x20AC;&#x153;He also stated that one of the wardens forgot his mobile phone in his car.

Shogunle explained that â&#x20AC;&#x153;PCRRU immediately launched an investigation, both traffic wardens where identified and apprehended. The sum of N15,000 earlier extorted from the complainant was recovered from both wardens (N7,500 each as money had already been shared. â&#x20AC;&#x153;Both wardens were subsequently defaulted and referred to the Force Provost Marshal FHQ Abuja for Orderly Room trial during which all witnesses were called, exhibits were presented and defaulters (both wardens) heard. â&#x20AC;&#x153;The adjudicating officer found both defaulters guilty as charged and recommended punishment of dismissal from service. The orderly room proceeding has been reviewed by the appropriate NPF authority and the punishment approved with immediate effect. â&#x20AC;&#x153;Traffic warden uniforms, ID cards and all police accoutrements issued to the men have been retrieved and all other dismissal procedure completed.â&#x20AC;?

Ambode to Host Muslims at Eid-de-Fitri Get-together In keeping with a policy of identifying with Lagos citizens during religious activities and festivals, Governor Akinwunmi Ambode and his wife, Mrs. Bolanle Ambode, are to celebrate Eid-de-Fitri with Muslims in the state, by hosting them in designated centres in each of the 20 local government areas.

The celebration, which comes up on June 25, 2017, will start from 11a.m. and end at 2p.m.

Said Ambode: â&#x20AC;&#x153;An occasion like this gives my administration the opportunity to reach out and worship with Muslims, Christians and other faith-based devotees during their respective special and holy days, and that the stateâ&#x20AC;&#x2122;s participation, identification and involvement during religious festivals is another way of projecting

hospitality, concord and love that Lagosians are noted for.â&#x20AC;?

This yearâ&#x20AC;&#x2122;s occasion is a conscious attempt by the Ambode administration to take it to the grassroots, so as to enable as many Muslims in the state as possible take an active part in it.

He enjoined all Lagosians to keep on praying for the state and continue to celebrate one anotherâ&#x20AC;&#x2122;s differences so as to strengthen their cherished unity.

While thanking all Lagosians for sustaining the atmosphere of peaceful co-existence and religious harmony in the state, Ambode reiterated his commitment to inclusive governance that would involve all religious groups â&#x20AC;&#x201C; irrespective of affiliations, denominations and interests.

CAUGHT IN THE ACT Dismissed traďŹ&#x192;c wardens, Shuaibu Suleman and Musa Muktari, during the Orderly Room trial at the Provost Department, Force Headquarters in Abuja....yesterday

Appeal Court: NHRC is Not Entitled to Pre-action Notice Davidson Iriekpen The Court of Appeal sitting in Abuja has held that the National Human Rights Commission (NHRC) is not entitled to preaction notice before any legal action can be brought against it.

Delivering judgment in an appeal filed by a former Governor of Edo State, Professor Oserheimen Osunbor, against the decision of a Federal High Court Abuja which struck out his case against the commission, the court in a unanimous decision, upheld the appeal and ordered that the case be remitted to the Chief Judge of the court for a reassignment to another judge.

The commission at the lower

court had raised an objection that the action was incompetent on the grounds that at least one month notice was not given to it before the suit.

Citing a plethora of authorities, the Court of Appeal held that the trial judge erred in law by striking out the case.

In the substantive suit, Professor Osunbor had asked the lower court to declare that his purported indictment by the commission for electoral violence was unlawful and unconstitutional because the commission did not give him any opportunity to defend himself before arriving at the indictment.

In addition, he prayed that

the purported indictment be set aside because the rights commission went outside its powers by reviewing the judgment of the election petition tribunal which nullified his election and drawing a conclusion different from that reached by the tribunal.

He contended that no allegation of electoral offence was made against him by anybody and that the rights commission on its own and without any evidence from any witness indicted him for electoral offence.

But the commission filed an objection to the suit, arguing that the former needed to give it at least one-month notice before

proceeding to court.

While reacting the judgment, Professor Osunbor hailed the Appeal Court judgment for stating the correct position of the law.

He added that the judgment would bring to an end the reign of impunity by the commission and its penchant for violating the rights of Nigerians and always shielding itself from legal action with a defence that it does not have.

The professor of law stated that the judgment would also make the commission to be more responsible in its operations and respect the human rights of Nigerians that it is meant to protect.

Prosecution Witness Exonerates Goje over N5bn Gombe Loan Seriki Adinoyi Ă&#x201C;Ă&#x2DC; Ă&#x2122;Ă?

A prosecution witness in the Danjuma Gojeâ&#x20AC;&#x2122;s alleged N25 billion fraud case yesterday told the Federal High Court that no kobo out of Gombe State N5 billon loan facility from Access Bank entered into Gojeâ&#x20AC;&#x2122;s account.

Goje, a serving senator, has been facing an 18-count charge of conspiracy and money laundering since 2012 alongside Alhaji Aliyu El-Nafarty, Alhaji Sambo Mohammed Tumu, and S.M. Dakoro.

According EFCC, they were

alleged to have conspired to defraud the state of about N25 billion being the proceeds of illegal acts, contrary to and punishable under Sections 15, 16, 17, 18 and 19 of the Money Laundering (Prohibition Act) 2011 as amended.

But yesterday, the prosecution witness, Mr. Ifesineke Owafil, Compliant Officer of Access Bank Plc, told the court presided over by Justice Benjamin Quadiri in his testimony that the loan facility obtained by Gombe was disbursed to various banks and not to individuals.

Mr. Wahab Shittu, the EFCC prosecuting counsel, who had led the prosecution witness in confirming documents obtained from the bank, tendered the bank statements through which the loan was obtained and disbursed.

The witness testified to all the documents and so they were accepted in evidence by the court.

Owafil, who was being cross examined by Mr. Chris Uche (SAN), counsel to Goje, said the loan facility came in four tranches and distributed to

different banks. Â When asked whether during the disbursement at any point, he saw where money was transferred to Goje or any of the accused persons, the witness said: â&#x20AC;&#x153;No, I didnâ&#x20AC;&#x2122;t see it.â&#x20AC;?

He added: â&#x20AC;&#x153;I have told you that our bank, Access Bank Plc, granted the loan facility after the former administration met the conditions of the bank. â&#x20AC;&#x153;The money entered into two accounts of the state, FAAC and Capital Project accounts, which thereafter were disbursed to various banks.â&#x20AC;?

WEDNESDAY, ͺ͚Ë&#x153; ͺ͸͚Ϳ Ëž T H I S D AY

54

WEDNESDAYSPORTS

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

C A F C O N F E D E R AT I O N C U P

Rivers Utd Romps to 2-1 Victory over KCCA Duro Ikhazuagbe with agency report Rivers United yesterday grabbed a 2-1 victory over Kampala Capital City Authority (KCCA) in a 2017 CAF Confederation Cup Group A match at the Yakubu Gowon Stadium in Port Harcourt. The â&#x20AC;&#x2DC;Pride of Riversâ&#x20AC;&#x2122; is now within qualification for the quarter final of the second tier CAF competition.

The victory shot the last Nigerian team in continental campaign this term to third position on six points, same as group leader, FUS Rabat of Morocco. KCCA is fourth now on same six points. Goal difference separates them all. The table is expected to change with Club Africainâ&#x20AC;&#x2122;s clash with FUS Rabat late last night.

Rivers United got off to the best possible start as Bernard Ovoke scored from Sakin Bolajiâ&#x20AC;&#x2122;s corner-kick to make it 1-0 to the home side with KCCA defence exposed.

It was soon 2-0 to the home side and this time it was Frederick Obomate who scored with the impressive Ovoke grabbing an assist in the 15th minute.

Ovoke, who was looking lively for Rivers, nearly extended Riversâ&#x20AC;&#x2122; lead in the 21st minute, but the attacker headed over from an unmarked position.

The Rivers midfielder was then denied by KCCA goalkeeper Douglas Kisembo, who was well-positioned to make a save from Ovokeâ&#x20AC;&#x2122;s free-kick.

With the halftime break fast approaching, the visitors pushed forward in search of their first goal and they did manage to

pull one back.

Geoffrey Serunkuma made it 2-1 for KCCA on the stroke of halftime after the Rivers defence failed to defend a free-kick. Rivers were leading 2-1 at the interval.

The home side started the second half brightly with Emeka Atuloma forcing Kisembo into a save from a free-kick just three minutes into the second half.

Then Kisembo went down injured and he was replaced

by KCCAâ&#x20AC;&#x2122;s reserve shot-stopper Benjamin Ochan nine minutes before the hour-mark.

In the 64th minute, Ovoke dribbled past a few KCCA defenders, before unleashing a shot which missed the target as he looked to test Ochan.

Ivorian striker Guy Keumian was introduced in the 73rd minute by the Rivers technical team as they looked to restore the home sideâ&#x20AC;&#x2122;s two-goal lead.

KCCA nearly grabbed a late equaliser, but Rivers keeper Abiodun Akande was alert as he denied Derrick Nsibambi in the 85th minute.

The visitors then suffered a major blow in the closing stages of the match as Habib Kavuma was sent off after receiving his second yellow card and ultimately Rivers ran out 2-1 winners.

Rivers:Â Akande, Nweke, Douhadji, Ovoke (Odah 78â&#x20AC;&#x2122;), Olalekan, Zoumana, Obomate (Igbinoba 61â&#x20AC;&#x2122;), Sakin, Odumegwu (Keumian 73â&#x20AC;&#x2122;), Atuloma, Saka.

KCCA:Â Kisembo (Ochan 51â&#x20AC;&#x2122;), Okot, Awany, Kavuma; Poloto (Kayizzy 68), Muzamiru, Masiko, Muleme; Okello (Ntege 58â&#x20AC;&#x2122;) Serunkuma, Nsibambi.

Mourinho Accused of Tax Fraud Manchester United Manager, Jose Mourinho, has been accused of defrauding tax authorities in Spain during his time with Real Madrid.

The allegations against the Portuguese amount to a sum of ÂŁ2.9 million, according to Spanish publication El Pais.

A number of high-profile football stars have been accused of tax avoidance in recent months, with Cristiano Ronaldo the most recent example.

The 32-year-old Real Madrid player has denied evading tax of ÂŁ13m between 2011 and 2014, and the club subsequently issued a statement claiming it has â&#x20AC;&#x153;full confidenceâ&#x20AC;? in Ronaldo.

However, reports have since suggested that Ronaldo is â&#x20AC;&#x153;upsetâ&#x20AC;? at his treatment, and is set to leave Real. Ironically, a return to United, where he would reunite with Mourinho, has been mooted.

Mourinho spent three seasons in charge at the Santiago Bernabeu between 2010 and 2013 before returning to England to take in a second spell with Chelsea.

He inherited the managerial reins at Old Trafford in the summer of 2016 and led United to three trophies during his

debut campaign.

Lionel Messi, of Barcelona, was also accused of tax fraud to the value of ÂŁ3.5m earlier this year, and was sentenced to 21 months in prison, though he is unlikely to face any jail time.

Meanwhile, Ronaldoâ&#x20AC;&#x2122;s woes deepened yesterday when the star striker who reportedly wants to quit Real Madrid was summoned to appear before a judge investigating tax fraud.

Ronaldo, 32, was summoned to appear in a Madrid court on July 31 to answer four counts of tax evasion of 14.7 million euro ($16.5m).

Unhappy Ronaldo, the fourtime world player of the year, has left his future at the Spanish giants in doubt and has been linked to United and other top clubs after angrily announcing last week that his â&#x20AC;&#x153;conscience is clear.â&#x20AC;?

According to media reports Ronaldo is unsettled at Real Madrid because he believes the European champions did not back him as fully as he had hoped in his dispute with the taxman. And he has also complained on multiple occasions in the past about Real supporters, who have resorted at times to jeering and booing his performance on the pitch.

Rivers United players celebrating the victory

NSF ELECTIONS

Dalung Tells DisqualiďŹ ed Contestants to Channel their Grievances to Appeals Committee The Minister of Youth and Sports, Solomon Dalung, has appealed to aggrieved contestants at the just concluded National Sports Federationsâ&#x20AC;&#x2122; Elections to channel their grievances to the Elections Appeals Committee. The Minister who was live on TVC yesterday said that it was not unusual to have complaints and grievances coming in the aftermath of every conduct of an electoral process.

Dalung however urged such people to use the provisions made available for protests and complaints emanating from the electoral process. â&#x20AC;&#x153;The beauty of it all is that every

credible electoral process has room for ventilation of grievances and in anticipating that we were not going to have a prefect situation, adjudicating bodies were also created to listen to complaints arising from these elections.  â&#x20AC;&#x153;We should allow the process to terminate and if people donâ&#x20AC;&#x2122;t get justice they can now say that they were shortchanged or that the process was not transparent and credible, but to point accusing fingers at the Ministry and create imaginary enemies through distasteful statements is unfair.  Dalung also assured stakeholders that those who were unlawfully disqualified will be

given a fair hearing and justice. â&#x20AC;&#x153;I have assured Nigerians of credible elections and all those aggrieved should present their grievances to the Appeals Committee. The Committee is made up of people with experience who will look at these complaints on merit and come up with conclusions.  â&#x20AC;&#x153;The only thing Iâ&#x20AC;&#x2122;ll add here is that anyone caught up in the guidelines can never expect anything to be created to accommodate him or her because the guidelines are the ground rules, therefore it is what is going to be used to measure whether somebody

was unlawfully disqualified or not even qualified to contest in the first place. All these things will be looked into using the guidelines.  The Minister also appealed to public not to condemn the process without exhausting all the channels of expression of dissatisfaction â&#x20AC;&#x153;Those who have moved to the court of public opinion, raising a barrage of allegations and trying not only to discredit the process but smear the integrity of people, I appeal to them that the Appeals Panel is still there. They should take their grievances there and they will get justice,â&#x20AC;? Dalung said.

FIFA Confed Cup: Russia, Portugal Game Live on StarTimes Next yearâ&#x20AC;&#x2122;s World Cup hosts Russia will welcome European champions Portugal to Moscow today for the second round of group games in the Confederation Cup. The other game of the evening is between Mexico and New Zealand.

Pay TV channel, StarTimes, has promised to beam the games live from the Otkrytiye Arena in Moscow to the watching pleasure of its Nigerian subscribers.

The European champions will be hoping to add some extra silverware to their international trophy cabinet, whilst the Russians are chasing their first major trophy as a nation, whilst simultaneously preparing for next summerâ&#x20AC;&#x2122;s World Cup.

As expected, host nation Russia got off to a comfortable start in their Confederations Cup campaign, beating OFC Nations Cup holders New Zealand while European champions Portugal were held to a 2-2 draw against CONCACAF Cup champions Mexico. It goes without saying that all eyes will be on Cristiano Ronaldo in Moscow. Heâ&#x20AC;&#x2122;s Portugalâ&#x20AC;&#x2122;s talisman and everything flows through him on the pitch. As youâ&#x20AC;&#x2122;d expect, the Portuguese often look to Ronaldo to carry them forwards and tend to give him the ball whenever heâ&#x20AC;&#x2122;s in space. However, he was slightly abject against Mexico and given the speculation surrounding his

future and the impending tax avoidance charges, heâ&#x20AC;&#x2122;s got a lot on his plate at present.

Will he be fully focussed on the Confederations Cup? A lack of focus could seep into his game and consequently hinder his national side.

Russia have only ever qualified for three World Cups, given a free pass into 2018 since theyâ&#x20AC;&#x2122;re the host nation, whilst reaching the semi-finals of Euro 2008 represents the only time theyâ&#x20AC;&#x2122;ve progressed beyond the group stage of a major international tournament.

Theyâ&#x20AC;&#x2122;re not a nation steeped in footballing history and itâ&#x20AC;&#x2122;s apparent in the quality of their current squad. Portugal has a better first team and depth, so the key for Russia is putting

in a solid team performance.

They need everyone to pull their own weight and to play as one collective against a strong Portugal side containing Ronaldo. Retaining shape and staying solid at the back will be important.

Commenting on the match, FIFA Secretary General Fatma Samoura said tickets for the group game between Portugal and Russia have been sold. â&#x20AC;&#x153;It is one of the most awaited games of the competition featuring hosts nation Russia and UEFA Euro 2016 Winners Portugal.

Both teams are going to make debut in this edition of FIFA Confederations Cup. So naturally, fans are eager to see their team playing the competition for the first time.â&#x20AC;?

T H I S D AY WEDNESDAY JUNE 21, 2017

55

Wednesday June 21, 2017

TR

UT H

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Price: N250

MISSILE

Falae to Journalists â&#x20AC;&#x153;They got to the farm and met three separate herds feeding fat on my crops, when the police approached them they ďŹ red at the police. â&#x20AC;&#x153;The policemen went there to see if they could eďŹ&#x20AC;ect an arrest for trespassing and destroying farm produce. So if the herdsmen ďŹ red at the police what would they do to me?â&#x20AC;? â&#x20AC;&#x201C; Former Secretary to federal government, Chief Olu Falae lamenting the threat posed by marauding herdsmen who have consistently laid siege to his farm and bringing their cattle to eat up his crops.

ATIKUABUBAKAR GUEST COLUMNIST

None of Us is as Great as All of Us

T

South Africa, we hypocritically turn he number one problem around and treat our own kith and plaguing Nigeria is not kin even worse. corruption or even the We have six geopolitical zones in absence of regular power.

Nigeria and I was one of those that The number one problem participated in bringing this about at militating against the progress of the 1995 Constitutional Conference. The Nigeria is her lack of unity. If we reasoning behind this is the awareness can fix this problem, Nigeria will that none of us is as great as all of us. herself be fixed.

Our six zones each have six strengths, In the Old Testament of the Bible, but our one Nigeria together has six which Christians accept as the divine hundred strengths. scripture, God spoke about mankind You do not believe me? Look at in Genesis 11:6 thus: â&#x20AC;&#x153;If as one people the Nigerian football teams that have speaking the same language they have won the Olympic Gold Medal, The begun to do this, then nothing they Africa Cup of Nations, the team that plan to do will be impossible for won the maiden edition of FIFA U-17 them.â&#x20AC;?

Acting President, Yemi Osinbajo World Cup in 1985 and the team that Similarly, the Holy Quran, the divine qualified for our very first FIFA World scripture of Muslims also states: â&#x20AC;&#x153;Do this phenomenon.

We must learn from history. We do Cup in 1994. not quarrel among yourselves lest It took a combination of Nigerians you lose heart and your momentum not have to repeat history. We must learn from the mistakes of other people. from all zones to pull these feats. The disappear.â&#x20AC;? - Quran 8:46.

From the above, it is clear that we As Albert Einstein famously said: the struggle of Nigeria in 2017 is not a can never have a Nigeria that fulfils definition of insanity is to do the same struggle between North and South, her full potential when we have a thing and expect a different result. rather, it is a struggle between good It would be insane if a nation that and evil. divided Nigeria. Not only will we lose It would not be possible for Nigeria momentum as the Quran shows us, once sang the song of â&#x20AC;&#x2DC;Go on With but we will also lose our possibilities One Nigeriaâ&#x20AC;&#x2122; should be seen to be to exist as one corporate entity singing a new and absurd song of comprising the six geopolitical zones as the Bible teaches us. if this were not the plan of God. If An objective look at history will show â&#x20AC;&#x2DC;Go on Without Some Nigeriansâ&#x20AC;&#x2122;. this is the plan of the Almighty, and it What that would mean is that the that without exception, all nations or regions that have expelled people from sacrifices of the millions of men, evidently is, then whose plan would their landmass on the basis of race, women and children who died in it be to cause division in what God religion or political affiliation have the process of keeping Nigeria one has united?

What did Nabi Isa (Jesus Christ been the poorer for it, whether you would have been a sacrifice made say) say in Matthew 19:6? are talking of the Alhambra Decree in vain. â&#x20AC;&#x153;What therefore God has joined This would negate the lines in our which purged Jews from Spain in together, let not man put asunder.â&#x20AC;?

1492, or of more recent events like National Anthem which read: Let us think long and deep on this.

The labour of our heroes past the purge of Asians from Uganda A while ago Emanuel Cleaver said Shall never be in vain in 1972.

It will be an even greater shame there is more power in unity than Nigerians may recall the â&#x20AC;&#x2DC;Ghana Must Goâ&#x20AC;&#x2122; purge of 1983 which led to that if after we are all united to in division. Some very clever people the forced departure of over a million condemn the xenophobic attacks in may have discovered ways in which Ghanaians from Nigeria. Nigeria lost many skilled workers and small businesses when the Ghanaians left. People like Miss Onuigbo are the future of But they went home and developed Nigeria and the world, a product of pan-Nigerian their country and today Ghana is the top destination for Nigerians wishing collaboration. Incidentally, she was discovered to study abroad. in Enugu, that great metropolis that in 1956 Because of how these immigrants helped develop and organise their elected a Northerner, Umaru Altine, as its ďŹ rst country, there are today over a quarter elected mayor. It is our history encapsulated of a million Nigerians in Ghana and the Ghanaians have coined the phrase in Umaru Altine and our future in Immaculata â&#x20AC;&#x2DC;Nigerians are Comingâ&#x20AC;&#x2122; to identify Onuigbo that Nigeria needs

they can divide Nigeria, but I am convinced that there are intelligent geniuses and patriots amongst our people who can discover ways to unite Nigeria and defeat their evil plans.

One of such people is Immaculata Onuigbo, a young Nigerian from Enugu, who was recruited by the Shehu Musa Yarâ&#x20AC;&#x2122;Adua Foundation at the very young age 10 and given a scholarship which eventually saw her emerge as the best graduating student of the American University of Nigeria, Yola, with the highest cumulative grade point average score in the schoolâ&#x20AC;&#x2122;s history.

People like Miss Onuigbo are the future of Nigeria and the world, a product of pan-Nigerian collaboration.

Incidentally, she was discovered in Enugu, that great metropolis that in 1956 elected a Northerner, Umaru Altine, as its first elected mayor.

It is our history encapsulated in Umaru Altine and our future in Immaculata Onuigbo that Nigeria needs. What Nigeria does not need is negative voices who are trying to uproot the shade-giving trees that people like Felix Okonkwo and Aminu Kano planted to provide cover for generations yet unborn.

One of the most inspiring stories I have read in recent times are those of Sariki Yaro Danladi, Chairman, Northern Traditional Rulers Council South-east and South-south and Ichie Uche Megwalu published in The Nation of last Saturday.

Danladi, who also doubles as leader of the Hausa community in Abia State, was born, bred and married in the state while Megwalu, a 77-year-old Igbo leader, has made Kano home for over 60 years. The stories of both men dot our landscape and bare eloquent testimony of the spirit of the Nigeria that beckons.

As I write this, I am certain that Nigeria will not be overcome by evil people, rather, the good people of Nigeria will overcome evil and Nigeria will be better for it. r "UJLV "CVCBLBS 8B[JSJ "EBNBXB 7JDF 1SFTJEFOU PG UIF 'FEFSBM 3FQVCMJD PG /JHFSJB

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