Issuu

After a Gallant Battle, Gov Suntai Passes Ishaku, Ekweremadu, Obi mourn

Tobi Soniyi in Abuja and Wole Ayodele in Jalingo After a five-year battle with the injuries he sustained

in a plane crash, former Taraba State governor, Mr. Dambaba Danfulani Suntai, died yesterday at his home in Orlando, Florida in the

United States, where he was undergoing rehabilitation. The former governor, who flew the light plane that crashed on October 25, 2012,

never fully recovered from the accident. Mr. Emmanuel Bello, a former Commissioner for Information in the state,

broke the news of the death. He became governor of Taraba State in 2007 and was sworn-in again on May 29, 2011 for a second term.

A pharmacist by training, Suntai enrolled to become a pilot at the Nigerian College Continued on page 8

Shell Accused of Complicity in Executions of ‘Ogoni Nine’…

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Report: Nigeria's Excess Crude Account One of World's Least Transparent… Page 12

In Attempt to Absolve Themselves, Etisalat-Mubadala Directors Resign NCC, CBN to meet with banks, equipment suppliers, IHS tomorrow

Emma Okonji In an attempt to absolve themselves of criminal and civil liability for the non-payment of a $1.2 billion loan taken from 13 Nigerian banks, the directors of Etisalat Nigeria, save for its chairman, Hakeem Belo-Osagie, have resigned en masse from the seven-man board of the

network operator. According to sources close to Etisalat, the six Mubadala and Etisalat Group-appointed Non-executive Directors (NEDs), all nationals of the United Arab Emirates, resigned last week, following Emirates Telecoms Group Company’s (Etisalat Group) reporting Continued on page 8

Gowon Asks Nigerians to Guard Against Agents of National Destruction Ndubuisi Francis in Abuja

As the nation goes through a difficult phase of sectional tension, a former Head of State, Gen. Yakubu Gowon (rtd.) has admonished Nigerians to show love for each other and shun divisive actions and utterances. Gowon, who led Nigeria to fight the three-year civil war against the secession of Biafra between 1967 and 1970, urged leaders in all sectors – religious and

secular – to embrace the fear of God if the nation must attain national development. The one-time military leader, in an address he presented at the 2017 annual seminar of the Knights of St. John’s International Commandery 574, Abuja, with the theme, “The Role of the Fear of God in Nation Building,” expressed concern over the current developments in the country. Continued on page 8

MARKETING AFRICA AT G20 SUMMIT…

L-R: Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah; Rwanda’s Minister of Finance and Economic Planning, Mr. Claver Gatete; and President of the African Development Bank, Dr. Akinwumi Adesina, at the African Economic Outlook Forum held on the sidelines of the G20 Summit in Berlin, Germany… yesterday

T H I S D AY THURSDAY JUNE 29, 2017

Dear Customer, This is a reminder that you should never disclose your account or card details to anyone or enter your personal banking details on a website that is sent as a link in an SMS, Email, Online or any Social Media Platform. Exit any page immediately if you are asked to enter your account, card or internet login details. GTBank, its staff or agents will never call or send you an email asking for your account details, PIN, Card or other Personal Bank details in exchange for monetary or material reward.

You can help us stop these types of scams by following any of the simple steps below: • Fake Online Flyers: Take a screenshot that clearly shows the link (website address) and send it to us by email at complaints@gtbank.com so that we can work to block the site. • Scam Calls, SMS, and Emails: Report the phone number to GTConnect (see numbers below) and forward such emails to complaints@gtbank.com Thank you for choosing Guaranty Trust Bank plc.

T H I S D AY THURSDAY JUNE 29, 2017

THURSDAY, june 29, 2017 • T H I S D AY

PAGE EIGHT A F TER A GALLA NT BAT T LE, GOV SUNTAI PAS SE S of Aviation in Zaria in 2010 and was licensed to fly, a passion he was reported to have enjoyed immensely. He had flown several successful flights with his private aircraft even while piloting the affairs of Taraba as governor. Prior to his plane crash in 2012, Suntai had been flown to Germany for medical treatment in August 2009, following a sudden ailment that was suspected to have developed from food poisoning. On his return from Germany, Suntai spoke at the opening of a three-day regional convention of the Full Gospel Businessmen’s Fellowship International in Jalingo, where he said his meal was actually poisoned. However, he was to survive a more life-threatening incident, when a private plane he was piloting crashed in Yola, the Adamawa State

capital. After receiving initial treatment at the Adamawa Standard German Hospital in Yola, he was transferred to the National Hospital, Abuja on October 26, 2012. From there he was flown to Germany and was later taken to a rehabilitation centre in the United States for further treatment. After 10 months of treatment overseas, Suntai finally returned to the country on August 23, 2013, with his aides claiming that he was well enough to run the affairs of the state. After weeks of political intrigues in Taraba over his health status, it was revealed that the former governor was not healthy enough to live in Nigeria without adequate treatment, much less govern the state. He was subsequently flown abroad again for further treatment, even as his then

deputy, Garba Umar, was empowered by the Taraba State House of Assembly to take over the ship of the state in acting capacity. He was brought back in the build up to the 2015 elections and remained confined in Jalingo until after the change of guards on May 29, 2015. Suntai was born on June 10, 1961 in Suntai village in Bali Local Government Area of the state. He attended Federal Government College, Kano, between 1975 and1980, from which he proceeded to the School of Basic Studies, Ahmadu Bello University, Zaria, and was later admitted to study Pharmacy in the same institution, graduating in 1984. The news of his death threw Jalingo, the Taraba capital, and the rest of the state into mourning, as people gathered in groups to discuss his death and found it difficult to face the reality of his passing.

He was regarded as the architect of the modern Taraba due to his focus on infrastructure development, which changed the face of the state from a rural to a fledging state. Governor Darius Ishaku, in a press statement signed by his Chief Press Secretary, Hassan Mijinyawa said he received the news of his death with great shock. He commiserated with the Suntai family and the entire people of the state over the loss and prayed to God to grant them the fortitude to bear the irreparable loss. Ishaku described Suntai as a great gift and asset who contributed immensely to the development of the state by creating the framework that made it possible for him to deliver the dividends of democracy to the people of the state. He noted that his predecessor’s candour and

decisiveness were still fresh in the minds of the people, particularly the love he displayed to all manner of men in the state. In the same vein, Senate Deputy Minority Leader, Senator Emmanuel Bwacha expressed deep shock over the death of Suntai, saying it was a rude shock. Also reacting to the death of his erstwhile colleague, the former governor of Anambra State, Mr. Peter Obi said Suntai’s death was painful and prayed to God to grant him eternal rest, and to grant to his family and the people of Taraba State the fortitude to accept His will. The Deputy President of the Senate, Senator Ike Ekweremadu, described as an incalculable loss to the nation, the death of the former governor of Taraba State. Ekweremadu said Suntai gave a good account of himself as a politician, public

administrator and party man. He said: “This is an incalculable loss not only to the people of Taraba State, but also to the Peoples Democratic Party family, and the nation in general. “We had all prayed for his full recovery following the air mishap of October 2012. “This is very sad news, for he was a leader that loved his people, for he gave a good account of himself as a politician, public administrator, a man of peace, patriot, party man, and nation builder. “He will be sorely missed, but like all great men, he is immortalised by his selfless service to God and humanity.” Ekweremadu condoled with the family of the late politician, government and the people of Taraba State, as well as the entire nation. He also prayed for the peaceful repose of the soul of the deceased.

and purchase of the towers through Huawei of China to help build the infrastructure backbone for Etisalat. But when the telco earned foreign currencies from the sale, it failed to repay its USD loans as was done by other telcos like MTN and Airtel. The shareholder groups are equally insisting that Etisalat must settle its indebtedness to the banks, so that the lenders in turn can pay dividends to their shareholders Etisalat had in 2013 approached a consortium of 13 local banks for a loan of $1.2 billion for network upgrade and expansion. The money was sourced in dollar and naira components. However, citing the economic downturn of 20152016 and naira devaluation,

which negatively impacted on the dollar-denominated component of the loan, Etisalat wrote its creditors informing them of its intention to halt the installment repayment of the loan, until such a time that it was able to raise more money. Unsatisfied with the excuse from Etisalat, the banks threatened to takeover the operations of the telecoms company should it fail to meet its payment obligations. The situation forced Etisalat to enter into negotiations with the banks, seeking unreasonable writeoffs, which the banks have so far rejected. The impasse eventually led to Etisalat Group’s withdrawal from its Nigerian operations last week, leaving behind Mubadala and EMTS.

at no other time has the country descended to the level of the current threat of disintegration. He recalled that the nation got to a boiling point during the 2015 general elections and disappointed doomsday apostles who predicted disintegration, adding that President Muhammadu Buhari emerged with a promise to tackle the myriad of socio-political and economic problems of the country. He regretted that Nigerians are today wondering as to what became of the dreams of two years ago? According to Onah, terrorists who were said to have been defeated; kidnappers, armed robbers and herdsmen, among others, have continued to make life miserable for Nigerians. He lamented that there is palpable tension everywhere, with provocative utterances and sectional antics holding sway, asking rhetorically whether the end of the nation is around the corner? He warned that if the

nation continues the way it is currently, all talk about one Nigeria is an exercise in self-deceit. Onah said the same powerful forces generating the tension are usually the ultimate beneficiaries, as they would continue to take charge of affairs.

I N AT T E M P T TO A B S O LV E T H E M S E LV E S , E T I SA L AT - M U B A DA L A D I R E CTO R S R E S I G N disclosure on the Abu Dhabi Stock Exchange that it was transferring 45 per cent of its stake and 25 per cent of its preference shares in its Nigerian subsidiary to United Capital Trustees Limited, the legal representative of the lending banks. Other shareholders of Etisalat Nigeria include Mubadala Development Company with a 40 per cent stake and Emerging Markets Telecommunications Services (EMTS), representing the Nigerian shareholders, with 15 per cent. The consortium of banks had threatened to takeover the operations of the telecoms company, unless it repaid the loan in full. One source who was aware of the directors’ resignation informed THISDAY that they stepped down from the board

intentionally in an attempt to exonerate themselves from the liability of the debt default that has enveloped Etisalat Nigeria, but said the banks will not allow them to go scot-free. He explained that what the directors forgot is that they had used a Dutch-registered company, of which they are also the directors, to guaranty the loans from the banks, and as such cannot run away from their obligations to their Nigerian lenders. “Yes, they resigned because they are trying to absolve themselves of the loans they have left behind. “But they cannot run away because they had used a company registered in the Netherlands where they are directors to guaranty the loans, so they will still be held liable should Etisalat

Nigeria fail to repay the loans to the banks,” he said. He also disclosed that the only NED left on the board was the chairman, Belo-Osagie, clarifying that the Chief Executive Officer of Etisalat Nigeria, Mr. Matthew Wilshire, Chief Financial Officer, Chief Information Officer and Chief Commercial Officer are not directors of the company. But as the crisis in Etisalat assumes a new dimension, THISDAY also learnt that the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN) have summoned a meeting, inviting the 13 banks, equipment suppliers and IHS, a telecoms tower and infrastructure provider, for a meeting tomorrow. They are slated to meet with NCC and CBN in Abuja

to address the situation in order to stem value erosion of the network provider and job losses. The banks, said a source, are also keen on reaching a resolution, as they would rather not appoint a receiver manager for Etisalat Nigeria. Right now, the noose is being tightened around Etislat’s neck to repay the loan, with shareholder groups in the capital market advising the firm to settle the debt, even as the banks are insisting on the prosecution of the foreign directors of the company and its principal, Mubadala. The banks claim that the Mubadala-appointed CFO of Etisalat Nigeria diverted over $700,000 from the proceeds of the sale of its towers to IHS. According to bank officials, they had financed the import

GOWON ASKS NIGERIANS TO GUARD AGAINST AGENTS OF NATIONAL DESTRUCTION Gowon, who commended the organisers of the seminar, said this was because “the current trend in our beloved country, where other factors other than the fear of God are trying to influence our actions and behaviour to disintegrate and destroy our beloved country, Nigeria”. “We really then need to have a serious appraisal of our actions and prayerfully ask God to forgive us and heal our land,” he said. Gowon, whose address was delivered by Mr. Barnabas Atiyele of the Nigeria Prays group, observed that the role of the fear of God in nation building was of paramount importance today in view of the glaring aberration of human beings from the ways of God and the emerging erosion of virtues and esteemed standards of living and behaviour. “I believe too that under God, we shall leave this meeting with resolutions which will lead our nation back to the path of brotherliness, love, unity,

faith, trust and confidence in God and one another as well as reenacting the cherished virtues that have made nations great to make Nigeria recover her place of pride in that comity of nations. “There is no gainsaying that the church and the people of God are the last hope of the crises-ridden world. To fear God and reverence God is critical to human survival and prosperity. Where there is no fear, there will be no order, anarchy, oppression and poverty would reign. We must guard against all these agents of national destruction,” he said. The former Nigerian leader noted that indeed, as given by the word of God, the fear of God is the beginning of wisdom, adding that the first ingredient of nation building is wisdom. Nigerians, he added, in their intention to develop the land mass given to them by God gave themselves a constitution whose opening statement is “We the people

of the Federal Republic of Nigeria having firmly and solemnly resolved, to live in unity and harmony as one indivisible and indissoluble sovereign nation under God... for the purpose of promoting the good government and welfare of all persons in our country, on principles of freedom, equality, and justice, and for the purpose of consolidating the unity of our people”. According to him, the building blocks for achieving the above declaration were enunciated in the motto of the Federal Republic of Nigeria, which are: “Unity and Faith, Peace and Progress.” “These laudable objectives can only be achieved through the fear of God. Our leaders in all sectors must really have the fear of God, be it political leaders, traditional leaders or religious leaders--all Nigerians, without exception must have the fear of God if this nation must achieve national development. “We must realise that God created us and therefore must

fear and reverence Him,” Gowon submitted. He admonished that as leaders, “we should not be found with unguarded statements (even if provoked) which do not make for peace and development of the society”. Peace, he stressed, is the basis of any development, adding that no nation can develop without peace. “Every pronouncement must be seasoned with the capacity to encourage and uplift men to work hard towards the unity, peace and growth of the nation. “We must show love for each other, shun any divisive actions and utterances. This is the mark of godliness and the fear of God that can make our nation great,” he stressed. He observed that the nation is waiting and depending on leaders with the fear of God to develop “our great country Nigeria”. In his keynote address, the Catholic Bishop of Nsukka, Prof. Godfrey Onah regretted that apart from the civil war,

TOP GAINERS UBA NEM DIAMOND FIDELITY FORTEOIL TOP LOSERS JBERGER OKOMUOIL UNILEVER

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T H I S D AY THURSDAY JUNE 29, 2017

THURSDAY, june 29, 2017 • T H I S D AY

STARTERS

Shell Accused of Complicity in Executions of ‘Ogoni Nine’ IOC denies allegation Ejiofor Alike Oil giant, Shell, stands accused of complicity in the unlawful arrest, detention and execution of nine men who were hanged by the military regime of the late Gen. Sani Abacha in the 1995, according to the Amnesty International, citing the launch of an explosive new case against the company in the Netherlands over four of the executions. The nine victims of what the then British Prime Minister, Mr. John Major had described as “judicial murder” include author and playwright, Ken Saro-Wiwa, Nordu Eawo, Saturday Dobee, Felix Nuate, Daniel Gbooko, Paul Levera, John Kpuine, Baribor Bera and Barinem Kiobel. According to a statement issued by Amnesty International yesterday, the civil case was brought by Esther Kiobel, the widow of Dr. Barinem Kiobel, and three other women. Esther Kiobel was said to have pursued Shell for 20 years over the death of her husband, who was hanged in 1995 along with eight others, collectively known as the Ogoni Nine. The executions had sparked a global outcry and international condemnation that led to the treatment of Nigeria as a pariah state until Abacha died in 1998. Esther Kiobel accused Shell of complicity in the unlawful arrest and detention of her husband; the violation of his personal integrity; the violation of his right to a fair trial and his right to life; and her own right to a family life. Amnesty International said it supported Esther’s legal team to bring the case to the Netherlands and has released a new briefing, ‘In The Dock’, detailing the role played by Shell in the executions. “The executions of the Ogoni Nine shocked the world. Shell has been dodging accountability for its complicity in these deaths for more than twenty years but now, thanks to Esther Kiobel’s determination and bravery in taking on this corporate Goliath, the past is finally catching up with it,” Senior Director of Research at Amnesty International, Audrey Gaughran, said. “Today is a watershed moment in Esther Kiobel’s uphill battle for justice. Shell has to answer for the bloody footprints it left all over Ogoniland,” Gaughran added. The executions were the culmination of a brutal campaign by Nigeria’s military to silence the protests of the Movement for the Survival of the Ogoni People (MOSOP), led by Ken Saro-Wiwa. In January 1993, MOSOP declared that Shell was no longer welcome to operate in Ogoniland. The military authorities responded to the MOSOP protests with force, committing numerous serious human rights violations including killings, torture and rape. “Shell encouraged the government

Two-Minute Briefing NEWS Report: Nigeria’s Excess Crude Account One of World’s Least Transparent A new report by the NRGI has revealed that despite some progress in transparency of revenue collection over the past five years… Page 12

EDITORIAL President Buhari’s Baffling

Broadcast o put it mildly, it is baffling that President Muhammadu Buhari should choose to address Nigerians in Hausa, rather than the medium of the English language, on the occasion of the Eid-el-fitr. Page 15

POLITICS Umahi: Chime, Elechi’s Defection Not in S’east’s Interest NationalVice Chairman of the Peoples Democratic Party, Chief Austin Umahi, spoke on the crisis rocking his party and the defection of two former governors to the All Progressives Congress. Page 18

FEATURES Incentivising Female Shell logo

to stop Ken Saro-Wiwa and MOSOP, knowing this was highly likely to result in human rights violations being committed against them. Shell had plenty of evidence that the Nigerian military was responding to the Ogoniland protests with abuse,” Gaughran said. Amnesty also alleged that just weeks before the men were arrested the Chairperson of Shell Nigeria had met with then Head of State, General Sani Abacha, and raised “the problem of the Ogonis and Ken Saro-Wiwa”. According to the human rights watchdog, this was not the first time Shell had engaged with military and security forces to frame the Ogoni protests as a “problem”. Shell was also said to have repeatedly reminded the authorities of the economic impact of the MOSOP protests. “Shell was reckless in raising Ken Saro-Wiwa and MOSOP as a problem, significantly exacerbating the risk to Saro-Wiwa and those linked to MOSOP. Shell knew full well that the government regularly violated the rights of those linked to MOSOP and that it had targeted Saro-Wiwa,” Gaughran added. Esther Kiobel brought a civil case along with Victoria Bera, Blessing Eawo and Charity Levula, whose husbands were executed along with Barinem Kiobel. The claimants are demanding damages for harm caused by Shell’s unlawful actions, and a public apology for the role that Shell played in the events leading to the deaths of their husbands. But in a swift response to Amnesty’s claims, Shell Petroleum Development Company of Nigeria (SPDC) denied the alleged complicity in the executions of the Ogoni nine, adding that it had

appealed to the then military regime to grant amnesty to the convicts. A spokesman for the company, Bamidele Odugbesan said yesterday that the company was shocked that its appeal and the appeals made by many others within and outside Nigeria, were rejected by the military government. “We have always denied, in the strongest possible terms, the allegations made by the plaintiffs in this tragic case. The executions of Ken Saro-Wiwa and his fellow Ogonis in 1995 were tragic events that were carried out by the military government in power at the time,” he said. “We were shocked and saddened when we heard the news of the executions. SPDC appealed to the Nigerian government to grant clemency. To our deep regret, that appeal, and the appeals made by many others within and outside Nigeria, went unheard,” he added. Shell said that support for human rights, in line with the legitimate role of business, is fundamental to its core values of honesty, integrity and respect for people, stressing that the evidence will show clearly that it was not responsible for these tragic events. “SPDC has not had an opportunity to review the full report produced by Amnesty International but based on a summary of its findings made available to us, the Amnesty allegations against Royal Dutch Shell and SPDC are false and without merit. “SPDC did not collude with the authorities to suppress community unrest and in no way encouraged or advocated any act of violence in Nigeria. In fact, the company believes that dialogue is the best way to resolve disputes,” the Shell spokesman added.

Entrepreneurs Young and promising careeroriented women were recently given incentives by way of instant scholarships for entrepreneurial training in China, while several others got scholarship opportunities to launch their careers and be trained… Page 20

BUSINESS Nigeria to Become Africa’s Fastestgrowing Hospitality Market by 2021 Nigeria is expected to be the fastestgrowing hospitality market from a revenue perspective over the next five years with a projected 14.7 per cent compound annual increase in revenue… Page 23

HEALTH Curbing Drug Abuse in Nigeria

While some Nigerians continue to crave for mind altering substances like cocaine, marijuana and codeine as tools for escapism, the risks associated with the practice are deadly. As Nigeria joined the rest of the world to mark this year’s… Page 36

INTERNATIONAL Venezuela Crisis: Helicopter Launches Attack on Supreme Court A helicopter has attacked Venezuela’s Supreme Court in what President Nicolás Maduro called a “terrorist” incident. Page 47

SPORTS Nigeria Oldest Football

Competition Becomes AITEO Cup Nigeria’s oldest football competition, the Federation Cup, yesterday secured the sponsorship of energy solution company, AITEO, after many years without any corporate support. Page 55

T H I S D AY THURSDAY JUNE 29, 2017

THURSDAY, JUNE 29, 2017• T H I S D AY

NEWS

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

Report: Nigeria’s Excess Crude Account One of World’s Least Transparent Ejiofor Alike

A new report by the Natural Resource Governance Institute (NRGI) has revealed that despite some progress in transparency of revenue collection over the past five years, tracking payments from oil and gas companies operating in Nigeriaremains challenging with the country’s Excess Crude Account (ECA) being the most poorly governed

sovereign wealth fund assessed by the index, ranking last alongside the Qatari Investment Authority. The NRGI report released yesterday further alleged that the federal government disclosed almost none of the rules or practices governing deposits, withdrawals or investments of the ECA. The report noted that though Nigeria also has other natural resource funds, some of which

We Don’t Want Restructuring, Says Umahi Benjamin Nworie in Abakaliki Contrary to the widespread agitations for Nigeria to be restructured, Ebonyi State Governor, David Umahi, yesterday strongly opposed the agitation, insisting that the state was not yet economically viable to seek independence. The governor also noted that he was neither in support of the agitation for Biafra nor the call for restructuring because the two proposals were not going to benefit the state as a people. Umahi stated this at the Government House, Abakaliki, while responding to the presentation of a Consultant on Internally Generated Revenue (IGR), Dr. Mike Abani, during the state executive council meeting. He maintained that the state was not yet ripe to clamour for restructuring or Biafra because the state totally depends on the federal allocation; investors are not coming into the state and the internally generated revenue (IGR) is paltry.

According to him, “When the issue of Biafra or restructuring is discussed, my heart jumps because Ebonyi State is not ripe for any. Ask yourself, what is it that we are producing? We totally depend on the federal government for allocation. Investors are not coming into the state and our IGR is nothing to write home about, because the idea of an investor is, supposing the allocation that comes from the centre stops, how do I get back my money”? The governor however, admitted that the people were over taxed but regrettably, they are going into private pockets of individuals including members of his executive council. But he promised that those involved since 2014 would be compelled to refund the funds in no time soon. He expressed optimism that the new measures being put to work would end the problem of IGR leakages in the state and assist his administration in fighting corruption.

are more transparent than the ECA, it acknowledged that the ECA as the largest fund by asset balance, constitutes a vast governance concern at the end of the oil sector value chain. Nigeria scored 42 of 100 points and ranks 55th among 89 assessments in the 2017 Resource Governance Index (RGI). According to the report, licensing is the weakest link in Nigeria’s value realisation component, with a score of 17 of 100, placing it 77th among 89 country licensing assessments. “This score and ranking reflect high levels of opacity in key areas of decision-making, including qualification of companies, process rules and disclosure of terms,” the report said. “The Nigerian government does not regularly publicly disclose government officials’ financial interests in the extractive sector or the identities of beneficial owners of extractive companies, though it has made some early

commitments to do so with the Extractive Industries Transparency Initiative (EITI) and the Open Government Partnership (OGP). The government has committed to disclosing all oil, gas and mining contracts in its “seven big wins” policy strategy and as part of its OGP action plan, but thus far, it has not disclosed contracts,” the report added. Citing NEITI reports, NRGI noted that despite some progress in transparency of revenue collection over the past five years, tracking payments from oil and gas companies remains challenging. “In terms of revenue sharing, Nigeria ranks 11th, alongside the United States (Gulf of Mexico) and Ecuador. The public lacks access to audited information on revenue flows to lower levels of government, and this contributes to the gap between the quality of the legal framework and actual implementation,” said the report. NRGI also argued that

despite some improvements in transparency, NNPC’s performance and accountability challenges still persist. According to the report, NNPC achieves a poor governance score of 44 of 100. “The corporation mainly scores well on indicators that measure elements of transparency required by EITI reporting, such as transfers to government and production volume disclosure,” the report added. The report acknowledged that NNPC has recently strengthened some of its reporting practices, particularly for high-level financial data. However, the report pointed out that the company does not disclose detailed annual reports on its finances, despite top officials having made a commitment to do so. “Little information is publicly available, particularly concerning some of NNPC’s least efficient and most questionable activities, notably earnings by

its subsidiaries, the costs of its operations and its significant spending on non-commercial activities. Government agencies and external auditors have disputed NNPC’s interpretation of rules set in the constitution and the NNPCAct governing monetary transfers between NNPC and the government,” said NRGI. Nigeria Country Manager for NRGI, Sarah Muyonga, said NNPC had made some new disclosures under the Muhammadu Buhari administration, but added that “the details and revenue implications of many of its high-value transactions remain secret.” “Furthermore, the Nigerian government does not regularly publicly disclose government officials’ financial interests in the extractive sector or the identities of beneficial owners of extractive companies. This enables widespread corruption, with which Nigerians are all too familiar,” Muyonga added.

ICPC Operatives Raid Namadi Sambo’s Residence in Kaduna John Shiklam in Kaduna Heavily armed operatives from the Independent Corrupt Practices and Other Related Offences Commission (ICPC) yesterday raided one of the Kaduna residence of the former Vice President, Namadi Sambo. The operatives were said to have arrived the No. 1 Alimi Road residence of the former vice president with a Toyota Hilux van and a Coater bus at about 3p.m. with a court order. Sources said a copy of the court order authorising the search of the house was handed over to the Chief Security Officer (CSO) at the residence. An eyewitness told THISDAY that the operatives blocked the major road leading to the residence to wade off motorists and other passersby plying the road while other operatives were said to have gone to search the house. They blocked the main road with a black Toyota Corolla and turned back road users from the scene of the operation. Operatives of the Department of State Services (DSS), and State Anti-Robbery Squared (SARS) were said to provide security for the ICPC team during the

search which lasted for about two hours. A resident of the area who craved for anonymity, told THISDAY that when they(ICPC) came into the residence, they threatened to shoot anybody that would around the house. “On arrival, they warned that anybody that moves would be shot. “They came at about 3p.m and left at about some minutes to 5p.m.,” he said. The spokesman of the former Vice President, Mallam Umar Sani, in a telephone interview, said the ICPC officials came with a court order to search the place. Sani said it was not the first time the house was being searched. “This is not the first time they are searching the house. They have been coming to search the house on several occasions. “Today, they came with a court order and gave a copy to the CSO in the house. After they finished the search, they wrote at the back page of the court order that they gave to the CSO that they didn’t find anything and they left. “So we are not surprised because it has now become a routine activity,” Sani said.

OFFICIAL INSPECTION

Acting President, Prof. Yemi Osinbajo (third left), flanked by the members of the Federal Executive Council (FEC) durng a visit to the Civic Innovation Lab Centre in Abuja....yesterday STATE HOUSE.

CBN Pumps Fresh $195m into Forex Market Obinna Chima

The Central Bank of Nigeria (CBN) yesterday intervened in various segments of the inter-bank market to the tune of $195 million. A breakdown of the intervention revealed that authorised dealers in the wholesale window segment received a $100 million offer from the bank, while the Small and Medium Enterprises (SMEs) and invisibles windows were allocated the sums of $50 million and $45 million respectively. The bank’s acting Director, Corporate Communications Department, Mr. Isaac Okorafor, confirmed the figures and disclosed that the bank was impressed by the high level of transparency exhibited by stakeholders in the market.

With the rate of inflation dropping from its April 2017 figure of 17.24 per cent to 16.25 per cent at the end of May, 2017, the CBN spokesman said the bank remained upbeat that the fortunes of the naira would improve further in the months to come. Meanwhile, the naira continued its stability in the forex market, exchanging at an average ofN365/$ on the parallel segment of the market on yesterday and N363/$ on the BDC segment. THISDAY reported last Monday that since the CBN commenced its aggressive interventions in the interbank and bureau de change segment of the foreign exchange market, the bank, as of Friday last week, had pumped a total of $7.136 billion into the market.

According to figures compiled by THISDAY, between February 21 and June 21, 2017, the CBN intervened in the market by selling the greenback to authorised dealers in 32 sessions. The dollar sales have been targeted at retail invisibles for PTA, BTA, school fees and medicals, wholesale forwards, SMEs, and Secondary Market Intervention Sales (SMIS). The forays by the central bank in the past four months has helped in eliminating the pressure in the forex market, ensured exchange rate stability and eliminated currency speculators. Owing to this measure, the naira which fell to a historic low of N525/$ on the parallel market four months

ago, has been trading around N360/$ since April. A breakdown of the dollar sales showed that $680 million was pumped into the market in February; $1.542 billion was sold in March; $1.616 billion in April; $2.102 billion in May; and $1.196 billion in June. Commenting recently on how far the CBN would go to sustain its market interventions, its governor, Mr. Godwin Emefiele, had said: “I have said it and I will repeat myself that the interventions will be more vigorous than before to underscore the fact that we are determined to ensure that the Nigerian economy recovers, by making sure that foreign exchange is made available to operators of the economy to conduct their businesses.”

THURSDAY, JUNE 29, 2017• T H I S D AY

NEWS

AFREXIM to Disburse N7.647tn to Intra-African Businesses Signs N306bn loan deal with Dangote Cement

Ebere Nwoji The African Export Import (AFREXIM) Bank has said it will in the next five years disburse a total of N7.647 trillion ( $25 billion )to support Intra -African trade within the African centment. This is just as the bank also said in line with this initiative, it would today (Thursday) sign a N305.900 billion ($1 billion) loan with Dangote Cement in Nigeria as part of effort to support businesses in Africa. AFREXIM President, Dr. Benedict Oramah, who stated this at the 24th annual general meeting of the bank held in Kigali, Rwanda, recently, said out of the above amount it plans to disburse in the region, N3.059 trillion ($10 billion) would be sourced from within Africa, while the rest would come from shareholders and other external sources. According to him, already the bank had mobilised N1.376 trillion ($4.5 billion) and was confident that it would make up the balance. He said management of the bank was optimistic that the initiative was achievable considering the enormous opportunities and funds sitting idle in the continent’s reserves

in the past years before the commodity price shock. He said AFREXIM had set for itself target of strengthening businesses in various sectors of the economy within the region, in order to bring a major change in the prevailing situation whereby once there is slide in commodity prices, it will affect economic activities of most countries in the continent. He said the regional bank, which is currently focusing its core strategy on promoting intra African trade, industrialisation and export of manufactured goods as well as maintaining trade financing leadership in Africa, was already making its business supportive and promotion impact in many countries within the continent. According to him, in Nigeria’s services sector, its total exposure to banks in the country, including the Bank of Industry, stands at N428 billion ($1.4 billion) while its outstanding from Nigerian banks was put at N1.040 trillion ($3.4 billion). “We have exposure to Nigerian banks in total of $1.4 billion, our outstanding in Nigeria is about $3.4 billion, that is the loan that Nigerian banks are owing us.” Speaking on the performance of the loans to Nigerian banks,

the AFREXIM Bank boss said they are all doing well as the banks are responding positively, adding that the banks are planning to make Nigeria benefit more from the initiative. “We are signing a loan contract of $1 billion (Thursday) with Dangote group for its cement factory,” he stated. He also said the bank had concluded plans to build world class medical centre in Abuja, Nigeria, to reduce rate of medical trips abroad by Nigerians and other African countries.

According to him, the regional bank has also concluded plans to set up three state of the art industrial parks in Nigeria to enhance local manufacturing and export of manufactured goods from the region. Oramah, said in all these, AFREXIM was happy that African governments and its shareholders are fully in support of the activities of the bank in this direction. He said apart from Nigeria, the bank had invested about $ 4.2 billion (N1.285 trillion) in

Egypt, especially in helping banks in the country to overcome their recent crisis as well as in promoting the Egypt- African trade promotion programme. He said the bank had also supported airlines, adding that it loaned $2 billion to Kenya Airways to purchase 20 aircrafts and had been a prominent financer of Arik Airline. Oramah also said the AFREXIM Bank has set for itself the target of dismantling through government support anything

that causes traffic in trading activates across the region. He said the bank’s activities in promoting businesses within the region would extend to Africans in diaspora, noting that this became necessary because a critical look at their business activities has shown that their GDP has grown as high as $700 million.. He said the bank through its intra-African trade development strategy wants to bring them into African economy.

New AIDS Drug Set for Roll out in Nigeria UNITAID is to roll out a generic version of the latest AIDS drug that can improve and prolong the lives of tens of thousands of people who suffer severe side effects and resistance to other treatments in Nigeria. UNITAID, a global health initiative, said a generic of Dolutegravir (DTG), first approved in the United States in 2013, is being given to 20,000 patients in Kenya before being rolled out in Nigeria and Uganda later in the year. DTG is the drug of choice for people with HIV in high-income countries who have never taken

antiretroviral therapy before and for those who have developed resistance to other treatment. Kenya is the first African country to start using the DTG. “I had constant nightmares and no appetite,” said Nairobi resident Doughtiest Ogutu, who started taking the drug this year because of her resistance to other treatments. “My appetite has come back… My body is working well with it.” Ogutu, who has been living with HIV for 15 years, said her viral load, the amount of HIV in her blood, has fallen tenfold

from 450,000 to 40,000 since she started on DTG. Sub-Saharan Africa has been at the epicenter of the HIV epidemic for decades and home to nearly three quarters of all people with HIV and AIDS. UNAIDS, according to the News Agency of Nigeria (NAN), aims for 90 per cent of people diagnosed with HIV to receive antiretroviral treatment by 2020. The brand name version of DTG is Tivicay, produced by ViiV Healthcare, which is majorityowned by GlaxoSmithKline. About 15 per cent of HIV patients are resistant, which

means the medicines do not work on them, said Sylvia Ojoo, Kenya country director for the University of Maryland School of Medicine, who is monitoring the introduction of DTG. UNITAID works to bring medicines to market quickly and to reduce manufacturing costs by allowing generic companies to access patents for a small royalty and produce them cheaply for the developing world. Kenya, with one of the world’s largest HIV positive populations, has made great strides in addressing HIV in its public medical facilities.

T H I S D AY THURSDAY JUNE 29, 2017

COMMENT

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

GOING ALL WRONG

The report of the herdsmen and farmers conflict in Mambilla lacks balance, contends David Audu

he recent herdsmen/farmers conflict in the Mambilla area of Taraba State was blown out of proportion and those familiar with the politics of the area and the state in general were not surprised. Most of the reports in the media quoted ridiculous figures of deaths and damage to property, apparently to exacerbate the situation and for those on a mission to promote the crisis out of proportion for political advantage to achieve their goal. It is callous and unacceptable. Surprisingly, these figures were taken directly from one side of the crisis with the media making no attempt to verify them before rushing to publish. Events have now proved those figures not only as untrue and ridiculous but a great distortion of the entire situation in Mambilla, Sarduana Local Government Council Area. What was expected, and which is the practice everywhere in the world, was for the media to rely on security agencies, the police in particular, for accurate figures of deaths and damage. This tradition was sidestepped in the case of the Mambilla crisis in order for those waiting to gain political advantage from the crisis to achieve their goal of blackmailing the government of the state. The more bizarre aspect of the falsehood served the Nigerian public on the crisis was that the state government did not do enough to stop the fighting. Government’s prompt intervention was the reason the crisis ended quickly and with causalities far less than the enemies of peace would have wished for. At a recent consultative meeting in Jalingo, the administration was praised by a leader of the Fulani community from Mambilla for promptly intervening to end the hostilities. It is also on record that the Ishaku administration has sacrificed a lot, in fact, more than any other previous administration in the state to achieve and sustain peace in the state since it came into office in 2015. The pursuit of peace has been central to the programmes of the administration since inception. In fact peace that is being enjoyed today in most parts of the state is a product of Governor Ishaku’s sweat. It is, therefore, ridiculous for anybody to suggest that the same person will ignore anything that is capable of threatening the prized product of his effort. Herdsmen/farmers conflict is not limited to Taraba State. It is a national phenomenon and most states in the federation have had, and are still having, their own share of the problem. But the promoters of crisis in the state told journalists (and they swallowed the falsehood hook, line and sinker} that the Mambilla crisis was a case of ethnic cleansing. This was a clear indication that those who want to reap political gains from the crisis had fully mobilised their agents to do the damage that would enable them achieve that goal. Such hideous attempt by politicians and promoters of ethnic sentiments to take advantage of conflicts between communities in the state to enhance themselves politically must be condemned. Politicians seeking to get into political office by swimming through the pool of blood of our innocent people are our common enemies and they should be stopped.

HIDEOUS ATTEMPT BY POLITICIANS AND PROMOTERS OF ETHNIC SENTIMENTS TO TAKE ADVANTAGE OF CONFLICTS BETWEEN COMMUNITIES IN THE STATE TO ENHANCE THEMSELVES POLITICALLY MUST BE CONDEMNED

One of the allegations made by those merchants of falsehood was that the state government did not speak in time on the efforts it was making to stop the crisis. Again, this is part of the grand campaign to blackmail the administration of Governor Ishaku. Government is not under obligation to always publicise security steps it has taken to stem the tide of crises it is managing. Such premature disclosures are, most of the times, injurious to the process of peace. In the case of the recent crisis in Mambilla, government took decisive security steps by deploying security men to restore peace and order and the timely intervention was very helpful in dousing the hostilities. There is a lesson that we must all learn from the recent Mambilla crisis. That lesson is the need for careful and mature handling of sensitive information on crises. For reasons that are obvious, the sides to any crisis will always seek to market information that will promote and project their sides of the conflict in the best light to the public. They want to win public sympathy for their position. Most of the time, the process of doing so degenerates into open marketing of untruths that are harmful to the peace process. We all, and in particular, the media, must reject such wrong attitudes and take a stand on the side of truth. The administration of Governor Ishaku has maintained an open door policy since inception and it will continue to do so. Media men should not allow themselves to be used by self-seeking politicians and champions of ethno-religious sentiments that destroy unity and promote misunderstanding. They must insist on sticking to the ethics of their profession in reporting sensitive issues such as crisis between ethnic groups. They inflame the crises by exaggerating the situation and presenting unverified information to the public as the truth. That was what the journalists did in the case of the recent crisis in Sarduana Local Government Area. Now that the crisis is over, it is time to reflect on those unfortunate events. All sides in the conflict should look back and tell themselves the bitter truth. That truth is that crisis and conflicts are not good for any human society. They impede progress and destroy the collective desires and aspirations of the people. It was the reason Governor Ishaku made the attainment and sustenance of peace a cardinal programme of his administration. It is for these reasons he is never tired of preaching peace. When he met with representatives of all the communities from Sarduana Local Government Council recently, he literally begged them to give up all the old hate sentiments that are always evoked to cause crisis. Taraba State has had enough of crises. The Mambilla Plateau, the greatest tourist destination in West Africa and the Nigerian hope for electricity power stability, cannot afford any more crisis. Nothing must be allowed to destroy those huge tourism and electricity power potential on the Mambilla. The impression must not be created that the Mambilla is unsafe for tourists. Audu wrote from Jalingo

THE OPTIONS BEFORE NIGERIA

Godwin Etakibuebu argues that the country must negotiate the terms of staying as one

y article, published elsewhere, last week and captioned “As Nigeria breaks: pains, agony and tears of saying goodbye” has been interpreted differently by different people and groups, and understandably so. Some believe that l jumped to the wrong conclusion that Nigeria has broken into pieces already. Others said that the caption is total reflection of the reality of today’s Nigerian ethnic agitations. Yet, there are those that agree with the caption in its totality. It is for this reason that l am returning to the discussion today. In so doing, however, the fact must not be lost on the realities of events as currently applicable in the Nigerian enterprise to wit: that things have fallen apart, in the words of the late literature icon Chinua Achebe, and the centre could not hold. In fact there is no centre in Nigeria any more to hold anything – that is the sad reality we must accept as a people. The escalation of the debate can therefore be justifiable if it presents alternative options in finding solution to the political predicament at hand. It [the escalation] will also reveal my true heart desire on this topic, albeit my prayers that Nigeria remains one indivisible country. It is in one indivisible country that the potential of greatness can be actualised. It is in attempt of bringing into fruition one united Nigeria that I am presenting three options for our collective evaluation.

Each and every one of these three options is material of negotiation. It means we, the people of Nigeria, must be prepared to negotiate wisely a one united country where equal respect for all the ethnic nationalities remains a cardinal place of honour. The catch here is mutual respect for all the ethnic nationalities. It means that the arrogance of the three major ethnic nationalities of Hausa, Yoruba and Igbo, needs to be eradicated forthwith and with immediate effect. The Creator who brought the minor ethnic nationalities into this geographical piece of land “around the Niger” and made them [the minority tribes] the economic backbone for the survival of the three majors [Hausa, Yoruba and Igbo] is wiser than any human predators. If the truth must be told, it is the arrogance of the three major tribes in seeing themselves [each] as owners of the country, an antic which is predatory by nature and interpretation that is responsible for the approaching calamity. The minority tribes are the everlasting glue God has created to hold the country together. That must have been the reason why the wise Creator did not concentrate them in one axis. He instead spread them across the land. Minus the minority ethnic nationalities, the three majority tribes are doomed. With this knowledge, let us go to work of making Nigeria one workable entity through the instrumentality of negotiation. Option one - Negotiating the unity of Nigeria in a restructured format. God, in Genesis 1:26

said, “let us create man in our own image and our likeliness”. This quote is incontrovertible evidence that the Creator of mankind started his good work from discussion/negotiation, albeit bringing man into existence. This confirms that man’s wisdom of negotiating things into and out of existence is a cue inherited from the Creator of heaven and earth. The platform being erected for this option is to the extent that we can negotiate the restructuring of the Nigerian federation to suit the exigency and reality of our times. If possible, let us denounce the phrase that Nigeria’s unity is not negotiable to accepting that everything in this world is negotiable. So often, within the past 50 years or thereabout, we have heard from our political leaders this one phrase that Nigeria’s unity is not negotiable. It remains an over-used expression, more especially when it falls flat on the face of historical reality. Nigeria as a country did not come into existence until after the amalgamation of 1914, which brought both the North and South Protectorates together. That itself was after discussions and negotiations between the people of the north and south “area of the Niger” on one hand and with the colonialists from across the Atlantic Ocean on the other hand. Both the concept and the name Nigeria [name given by Flora Shaw – later Lady Lugard] were negotiated into existence by a people of that generation. What the founding fathers of Nigeria gave to us through negotiations may not be perfect but

it was obviously a far cry from what we operate now. They presented to us a truly fiscal federated system of government which recognised the federating units [regions as they were then] as power blocs, with emphasis on resource control. The government at the central had only three major things [currency, defence and foreign policy] under its control. It lived on royalties paid to it by the units even as these units developed at their own paces with total control over all their resources. This was Nigeria’s way of life until the military came in January 1966, through the instigation of politicians from the three major ethnic tribes, with seemingly mandate of wiping out fiscal federalism from our country. The military there and then introduced a unitary system of government; a system that “kidnaps and steals” every earning from the federal units [from regions to states and now 36 states and federal capital territory of Abuja], presents all to the federal government in Abuja as spoils of war, while the federal government, acting as father Christmas, gives tokens to the states [original creator of the wealth]. Option one therefore is a clarion call to all Nigerians to arise in abolishing this distorted and disjointed system of government by reverting to status quo ante, albeit fiscal federalism, as we got it from our founding fathers. This is restructuring without breaking. Etakibuebu, a veteran journalist, wrote from Lagos

T H I S D AY •THURSDAY JUNE 29, 2017

EDITORIAL PRESIDENT BUHARI’S BAFFLING BROADCAST President Buhari’s broadcast to Nigerians in Hausa is ill-advised

o put it mildly, it is baffling that President Muhammadu Buhari should choose to address Nigerians in Hausa, rather than the medium of the English language, on the occasion of the Eid-el-fitr (end of Ramadan fasting). It showed poor judgment, insensitivity to the divisive forces plaguing the nation and a poverty of leadership that beggar belief. The president’s action also reinforced the perception that the federal government, especially the executive arm, is largely responsible for the excesses of various counter nationalist forces that have in recent weeks threatened the peace and stability of the country. For the record, we are mindful of certain unclear circumstances concerning the recording which was released by the presidency apparently to counter some online news report that President Buhari had suffered speech impairment. Was it an interview granted the BBC Hausa Service by the president that was then transcribed and sent out as Eid-el-fitr message to Nigerians by an BY ADDRESSING THE overzealous media COUNTRY IN HIS NATIVE aide? Or was it a LANGUAGE OF HAUSA, HE deliberate recording HAS DONE ENORMOUS by a president who DAMAGE BOTH TO OUR may have unwitCOUNTRY AND HIMSELF AT tingly subscribed to A MOST DELICATE PERIOD the foreign media depiction of Nigeria as IN OUR HISTORY comprising “Muslim North and Christian South”? Whatever may be the answer to those posers, the language of his communication, especially being the first time he would speak since he left Nigeria for the United Kingdom on May 7, has become the dominant issue. If the intention was to divide, the purpose has been achieved but it cannot be to the president’s long term interest. More troubling is that when a leader who was elected onto a national platform decides to play to parochial sentiments, it is usually a political rear-guard

Letters to the Editor

action that bodes ill for their people. Having been out of the country on medical vacation for most part of this year, the interpretation of such a broadcast is that the president can no longer trust the pan-Nigerian electorate whose votes brought him to power. The cold calculation may then be that his political support base now resides in his native demographics and he needs to “rally the troops”, as it were, in the language he thinks most of them would understand in order to retain majoritarian power. Under our national circumstance today, it is a dangerous gambit.

I T H I S DAY

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

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

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

t is all the more unfortunate because while the 2015 election in which Buhari defeated the incumbent President Goodluck Jonathan approximated to a national mandate, he has done so much within two years to subvert that popular will. From his appointments which confirmed his public declaration that they would tilt more in favour of sections of the country where he got huge chunks of vote to his famous body language, the Buhari administration has done very little to rally all Nigerians for the peace and prosperity he promised when he was campaigning for office. By now addressing the country in his native language of Hausa, he has done enormous damage both to our country and himself at a most delicate period in our national history. To the extent that perception is, oftentimes, as vital as reality, it was poor judgment on the part of presidential handlers not to expect a backlash from Buhari speaking to Nigerians in Hausa language. At a time the administration is increasingly being perceived by a section of the political elite as establishing a trend of institutional partiality, we wonder how his aides didn’t anticipate that there would be a negative reaction. Besides, the constitution of Nigeria is clear on the agreed national language as against regional languages. If the president therefore chose to address the nation in a language that did not communicate to all Nigerians, he is not only sending the wrong message, he is giving ammunitions to forces of division in the country.

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THE CHALLENGE OF CLEANING EDO STATE

do State Government has set a huge goal for itself to become one of the cleanest in the country within the next four years. This daunting task which comes with a lot of challenges, human and otherwise, is achievable as has been proven by states like Lagos and Cross River. It will be recalled that successive administrations especially the immediate past, have tried to clean up the state to no avail. Just when government thought progress was being made, it was back to status quo. Upon assumption of office, Governor Godwin Obaseki made it crystal clear that cleaning up the state was a path to take. It all started with a workshop where the idea to clean up the state was conceptualised. The workshop was the work of experts put together by the state government to find a lasting solution to the environmental problems. The theme of the workshop was: “Enhancing Environmental Governance for Sustainable development”, a workshop which was honoured by former Governor of Cross River State, Mr. Donald Duke. It was a gathering of all stakeholders drawn from the public and private sectors within and outside the country, where participants brainstormed on how to come up with realistic ideas towards a ‘clean state’. During the workshop, Governor Obaseki enjoined all “to embrace the responsibility of environmental management, towards a cleaner environment and improved standard of living”. He stressed that “the workshop was an avenue to find a way to link environmental issues with growth, create an enabling environment

for investors and also improve the living standards of the people”. This he said “will help promote the huge potential of the state and protect the ecosystem”. The governor remarked that “global standards in environmental management will be employed” and tasked participants to put their knowledge at the disposal of the government, to enable the state achieve the desired goal. Chairman of the workshop, Mr. Donald Duke said everyone must own the vision for the desired result to be achieved. According to him, the people have a responsibility of keeping the system on their toes. He painted a picture of great hope saying, “Lagos was tagged as one of the filthiest places in the world, but today, it’s not even on the list. Edo is not filthy, Edo will be much better”. Drawing from the success stories of Lagos and Cross River States, Governor Obaseki stated emphatically that he has the political will to clean up the state. Knowing that the major challenge is ownership by the people, he promised to tackle that by creating social awareness about the vision and sensitising the people. Ideas were later distilled into a workable action plan that led to the activities of the task force being seen today. Following the workshop, the state government immediately empowered the task force comprising of environmental health officers, officials of the state waste management board, and members of the Nigeria police with a mobile court, to prosecute and summarily sanction environmental law offenders. The city centre, popularly known as King’s Square, was used as a test case. The Oba Ovoranmwen Square which used to be characterised by chaos, disorder and filth, was rid of all that. Sanity has been restored. No more trading on walkways or roads, no

indiscriminate parking of vehicles, no littering or hawking around the city centre. The public has been sensitised and is still being sensitised on these issues. Indeed, residents are calling out to the state government to replicate the same thing in other areas. In recent times, people have witnessed demolition of buildings around the city centre, reason being that such buildings didn’t meet the approved town planning standard. Government has also put modalities in place to checkmate night trading, and other sanitation and pollution law management offences. Success was not recorded in time past because it was conducted within the policies in the ministry, and some people were treated like sacred cows. Edo State needs a lot of private participants but the initiative must be driven by government. Also, the issue of deforestation will have to be addressed within the context of the new environmental drive. Edo State Government is looking at converting waste to wealth, compost, beautification of public parks, creating alternative power sources that are eco-friendly and beneficial to the environment in the long run. Others include achieving zero waste landfill/ engineered land fill, mopping up solid waste, eradicating child labour, educating the people on the socio-economic benefit of buying the idea, down the road. The state government has and is still employing a lot of education, sensitisation, plea, and enforcement. The dream is to build a state where man and environment are in harmony.

Queenneth Orobedo, Benin City

T H I S D AY THURSDAY JUNE 29, 2017

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Required qualifications: • A bachelor’s degree in Economics, Business Administration, Banking and Finance, Accounting, Finance and Administration or any related field • A post graduate degree in business or development finance related field or management is an added advantage • Membership of a professional business related institute such as ICAN, CIMA, CPA, CIBN etc. is required • Minimum of 10 years working experience in a financial institution / development agency is required of which at least 6 should be at managerial level” Head, Corporate Services - JOB_DFI010

•

Minimum of 15 years working experience in a financial regulatory environment is required, of which at least 8 years post call cognate experience at managerial level

Legal Counsel - JOB_DFI011 Job summary: To direct and control the provision and highest quality of effective legal services and compliance advice is provided to the institution in the most efficient manner. To provide support in the delivery of corporate governance and regulatory compliance responsibilities. Required qualidfications: • A bachelor’s degree in Law • Possession of a Post graduate qualification (i.e. LLM) is an added advantage • Membership of the Nigerian Bar Association is required • Minimum of 6 years post call cognate experience in a financial regulatory environment is required, of which at least 2 years is at managerial level Specialist, Enterprise risk - JOB_DFI015

Job summary: Develop and implement the strategies, systems and infrastructure required to deliver efficient and effective services in the areas of; administration, corporate communication and branding, human resources management as well as information technology, in accordance with the values and strategic direction of the Bank.

Job summary: Implement the Enterprise Risk Management Framework of the Bank, by ensuring prompt identification, assessment, treatment, monitoring and reporting of risks across the Bank. Ensure the adequacy and effectiveness of all risk mitigation plan for all core risks in the Bank risk register. Monitor the implementation of the Internal Control Framework, and act as secretariat for Assets and Liability Management Committee (ALCO).

Required qualifications: • A minimum of a bachelor’s degree in the arts / law / humanities / social sciences/ management sciences. A Master’s Degree in Administration, business, management or any related field is required • Membership of the Institute of Chartered Secretaries & Administrators, Nigerian Bar Association or any related certification in management is an added advantage • Minimum of 15 years working experience in secretarial/ legal capacity or related role is required of which at least 8 should be at managerial level”

Required qualifications: • Bachelor’s degree in Accounting, Banking & Finance, Economics, Business Administration or any social sciences related discipline • Post graduate degree in a business related field or management is an added advantage • Membership of any recognized professional certification such as RIMAN, PRMIA, GARP, IRM, or any related certification is required • Minimum of 12 years of experience in Banking or Financial system risk in a related field is required, of which at least 6 must be at managerial level

Financial Analyst - JOB_DFI014

Head, Regulatory Compliance - JOB_DFI004

Job summary: Provide high quality analysis of the Bank’s financial activities to ensure availability of critical information for decision making within the Bank. Carry out financial processing of transactions and generate journals, trial balance, financial statements and reports

Job summary: To ensure compliance with regulatory and internal policies and the Bank Code of Conduct. Coordinate the prompt and timely rendition of all regulatory returns and provide support to the Bank in ensuring compliance with corporate governance and all regulatory compliance related responsibilities.

Required qualifications: • A bachelor’s degree or its equivalent in Finance, Accounts or any Social Management Sciences or Business related discipline. • A Post graduate or Master’s degree in a related field is an added advantage • Membership of ICAN, CPA, ACCA, CFA, etc. is required • A minimum of 4 years working experience in an Accounting or finance related function in a financial institution

Required qualifications: • A bachelor’s degree in Arts, Business or any related field is required • A post graduate degree / MBA in a related field • Membership of the international compliance association or any related professional certification • A minimum of 10 years experience in a compliance/risk and control / regulatory role within a financial services institution with at least 4 years in a managerial position

Head, Research Monitoring and Evaluation - JOB_DFI018

Head, Internal Audit - JOB_DFI008

Job summary: Provide oversight for planning, evaluation, knowledge management and monitoring. Identify performance indicators, develop quality assurance strategies and ensure all aspects of the business comply with institutional requirements.

Job summary: To perform and control the internal audit function, ensuring that all financial standards, regulations, and statutory provisions are complied with and that the appropriate financial controls are in place to ensure the efficient, effective and proper use of resources.

Required qualifications: • A bachelor’s degree in Law, Social Sciences or any other related discipline • A master’s or post graduate degree in Law or a business related field is required • Membership of any recognized body such as Chartered Institute of Bankers/ Finance and/or Nigeria Bar Association/ Association of Arbitration and Mediation is an advantage • Minimum of 10 years working experience in a compliance / regulatory role in a financial environment is required of which at least 5 should be at managerial level

Required qualifications: • A bachelor’s degree in any accounting or social sciences related discipline • A Master’s Degree in business related field or management is an added advantage • Membership of ICAN, ACCA, ANAN, CIMA, IIA, CISA or a recognized professional accounting / auditing association is required • Minimum of 15 years working experience in an accounting /auditing role is required of which at least 8 should be at senior management level

Head, Risk Assessment and Ratings - JOB_DFI003

Job summary: Establish the strategy and policy direction for internal and external communications of the Bank, including advertising, branding and image management; develops and implements brand management plans and ensures compliance across the Bank; defines clear corporate communications and advertising strategies and programs to achieve brand objectives. Also provide oversight for corporate social responsibility and sustainability strategy and programs.

Job summary: Champion the implementation of the bank`s credit policy and ensure that the policy is adhered to strictly in the credit process. Coordinate and ensure prompt and adequate identification, assessment, treatment, monitoring and reporting of credit risk. Review the credit appraisal of PFIs presented by credit operations department, validate the fulfilment of all eligibility criteria, and ensure that PFIs are rated in line with the credit policy manual. Required qualifications: • A bachelor’s degree in Accounting, Banking & Finance, Economics, Business Administration or any social sciences related discipline • A post graduate degree in business related field or management is an added advantage • Membership of any recognized professional body such as RIMAN, PRMIA, RMP or any related certification is required • Minimum of 15 years working experience in a similar role is required within a financial services institution, of which at least 8 must be at managerial level Company Secretary / Chief Legal Adviser - JOB_DFI007 Job summary: Direct and control the provision of effective legal services to the Bank and ensure the highest quality of legal and compliance advice is provided to the Bank in the most efficient manner. Provide assistance to the Board of Directors in the daily business activities by performing all types of secretarial activities including workflow management, office administration, and resource management. Required qualifications: • A bachelor’s degree in Law • A Post graduate / Master’s qualification (i.e. LLM) is required • Membership of the Nigerian Bar Association is required

Head, Corporate Communication - JOB_DFI012

Required qualifications: • A good first degree and a Master’s Degree from reputable Universities • Membership in any relevant professional certification • Minimum of 12 years cognate experience in a bank or other financial institution, with a minimum of 6 years in marketing, branding and or public relations function Specialist, Financial Audit - JOB_DFI016 Job summary: Work with Head of Internal Audit to execute and deliver planned internal audit activities for the Bank which includes assessment of risk management and control management over operations’ effectiveness, financial reliability and compliance with all applicable directives and regulations. Required qualifications: • A bachelor’s degree in any accounting or social sciences related discipline • A post graduate degree in a business related field or management is an added advantage • Membership in accounting / auditing associations such as ICAN, ACCA, CPA, CIMA, IIA or CISA, etc. is required • Minimum of 6 years working experience in an accounting/ auditing role is required of which at least 2 should be at managerial level Interested applicants should log on to: https://www.wecadeloitte.com/ extranet/recruitment/vacancy/pages/page/dfi

T H I S D AY • THURSDAY, JUNE 29, 2017

POLITICS

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

PERSONALITY INTERVIEW

Umahi: Chime, Elechi’s Defection Not in S’east’s Interest National Vice Chairman of the Peoples Democratic Party, Chief Austin Umahi, spoke on the crisis rocking his party and the defection of two former governors to the All Progressives Congress. He spoke with Benjamin Nworie who presents the excerpts:

hat is your reaction to the victory of the Abia State governor, Okezie Ikpeazu at the Supreme Court? The judgment of the apex court on the Abia governorship election is a welcome development and we as a party are very happy that today, the judiciary has prided itself as the true and last hope for the common man. We accept the judgment as the confirmation of the will of the people which they exercised freely in favour of our party, PDP and governor Ikpeazu in 2015 governorship election. We wish to thank all Abians and members of our great party for their steadfastness during the trying moments when the mandate given to our party was being put to trial by some elements that wanted to achieve victory through the backdoor. We are launching a comprehensive rebranding of PDP in the zone and we are optimistic we shall reclaim Anambra and Imo States for PDP. I congratulate you my dear brother on this landmark victory at the apex court. Your victory was a clear confirmation of your acceptance by the people of the state hence, your overwhelming victory at the polls. Your election was greeted with so many litigations and in all, God upheld your hand high in victory and today, you stand tall before your foes and they came trembling before your God. Abia and Ebonyi State share so many things in common and have been united in our quest for collective development. Since the current administrations, we have seen the enormous challenges of navigating the ship of development through the turbulent waters and today, there are tremendous successes in Ebonyi and Abia states as we have obliterated the clog in the wheels of our development. Recently, former governors of Ebonyi and Enugu states Chief Martin Elechi and Sullivan Chime respectively defected to the APC. Will their defection not affect PDP? The people that are defecting from PDP to APC have no political value. Yes, I was astonished to hear that an ex-governor of Enugu state defected to APC. This is a man that was in total darkness and PDP picked him up, made him a commissioner, two term governor and so on. Just because he wanted to go to the Senate, his people said no and he wanted to be a Lord to the man in Enugu State Government House and he failed and took to critics. Very soon he will come back to tell Ndigbo why he defected. We learnt that his claims for his defection was to protect the people’s interest. Chime’s defection was for his selfish reasons because he did not defect as a result of the interest of the good people of South-east. He defected just to protect his empire. The question about his defection I must ask is, how many people did he defect to APC with? The answer is nobody. Of what use is his defection? We also have similar case in Ebonyi State, where an 83 year old former governor defected to APC. We all know that the former governor of Ebonyi State, Chief Martin Elechi, left PDP in the year 2014 to Labour Party (LP). After two years of been in LP, he defected to APC. My question is, at his age, is he supposed to be jumping from one party to another? Capital No. Chief Martin Elechi cannot boast of defecting with his wife or son. People defecting to APC are people who cannot win their polling units. Their defections cannot

What is the stand of PDP South-east on the release of 82 chibok girls? If there are divergent views? Don’t you have divergent issues in your home, with friends, brothers and among colleagues in office? Divergent opinions are inevitable in human endeavors. You are bound to have divergent issues. If Sheriff and Makarfi have divergent views towards the release of Chibok girls by federal government, they are entitled to their opinions. Expression of opinions is the essence of democracy and that is what matters because without people, democracy is dead. Even among my executives, we quarrel to understand and move forward and that is to say Makarfi and Sheriff are entitled to have divergent opinions which makes them human beings and I commend their divergent opinions.

Umahi…a PDP optimist

take sleep out of our eyes. As the National Vice Chairman of PDP South-east, they are junks and we must clear them to enable us move forward and bring the younger generations on board. We are tired of promises. We are tired of recycling. That is the more reason we are not perturbed or disturbed by their defection. I call them Abuja politicians who don’t know or have a grass root definition. I want to ask you, the years of PDP, can you compare it with the two years of the present government? Keep the answer to yourselves. In governance, there is no way you give it 100 percent, 80-90 percent is pass mark. PDP is doing very well in human empowerment and stomach infrastructure. Check the states PDP are ruling. As the National Vice Chairman of PDP South-east, I give them excellent. To be frank with ourselves, Nigerians are missing PDP. Look at youth empowerment. It is unprecedented in the history of Ebonyi state. I used to think Ebonyi State was alone on such meritorious achievements but when I visited Abia and Enugu states. I saw they were in the same league. Few days now, Abia state governor will be sending one hundred youths to China to understudy China. That is human empowerment. What again are we talking? It pains me the level of marginalisation Ndigbo are passing through in the so-called diametric government and then some Igbo people will be proud to say that they are defecting. What are your reasons for defecting? Have you paused and pondered, to tell the people you are leading - your followers that these are your reasons. Time will not permit me to enumerate so many things but to tell you the truth South-east has no regret whatsoever the way they voted for PDP in 2015 and they are going to vote even more than that in 2019. I can assure you by the special grace of God, APC has done all the work for PDP. PDP has to do its homework very well and correct some mistakes and possess our possession

come 2019 because Aso Rock is our possession and we must repossess it. As the National Vice Chairman of PDP South-east, I have no doubt that we can repossess it. Governor Rochas Okorocha of Imo has been quoted as allegedly boasting that APC will take-over Anambra state come the next general election in the state? What is your party doing about that? I assure you that it is an empty boast. Okorocha should boast with what he is doing in Imo State, as a result of his transformation and what he is doing in Imo State that Anambra people will want to get the same party ruling Imo State. Will Anambra State pray for that kind of governance in Imo State? The answer is capital no. Check when I was making my opening speech, I noted that politics of today is transformed and renewed. It is no longer politics of propaganda. People are interested in what you are doing; if it is road, they want to ply it; if it is light, they want to see it shining; if it is water, they will want to open it and see it running. It’s not any how water; the people must see the quality of water. They want to see the quality of road, the quality of light, that is what the people want, that is why people are tired, there is so much frustration, there is so much enchantment, thank God he (Rochas) used the word boasted and I will let it be at that, when we get to the bridge we shall cross it. I can assure you that Anambra people are knowledgeable. Anambra people can play their cards very well. They have been doing marriage and it must stop because of the present formidable South-east PDP officials, the marriage must stop and PDP must possess its possession. We, the South-east PDP executives must simply, showcase what is happening in Ebonyi, Abia and Enugu States where PDP governors are in-charge, after all we are one inseparable family. It’s the word boast so he can boast, when we get to the bridge, he will know he was boasting.

Does South-east PDP support the formation of Advance Peoples Democratic Alliance (APDA) party by some members of the PDP and which of the faction does the zone support, Sheriff or Makarfi? It is a rumour. I have heard more rumours than you. As a leader, there is nothing I have not heard even in social media. The truth of the matter is that here we are today is the South-east PDP Zonal Headquarters and with me are the South East PDP Zonal officers. As you can see, there is no PPA, APC flag or whatever here. What you all are seeing is PDP and we are discussing PDP affairs which are all about power to the people. Issue of alliance, formation of this and formation of that, the South-easterners have been terribly marginalised. We are not fools. We all have to sit and iron issues out. God forbid if anything goes wrong. We all have to move as a formidable force. We are still PDP. Yes, our case is in court. We are very optimistic. We believe God that justice must be done and why must it be done is to save democracy in Nigeria and that is why everyone is watching and listening. Our democracy must be saved and who will save it? It’s PDP. Even APC members are busy begging, calling me and asking me how is your case in court so that we can easily do justice to our democracy. As the National Vice Chairman of PDP South-east, I must tell you authoritatively that APC is an association of people with different ideologies and different political interests. Go and see them fighting themselves. There are lots of in-fighting of who will succeed who. They want to succeed a living man. Is it not an abomination? The truth of the matter remains that Igbo people are focused people. Igbo people are talented and very enterprising. They have their own approach to issues. We have a living president and we should not begin to talk of succession. When his time elapses then you will see the true Igbo leaders speak and when they speak you will know and understand we are not in disarray. You will also understand that we are one united family, demonstrating maturity at the right time towards the right path. The truth is some of these things you are seeing and hearing are just an arrangement. I have to use the word ‘arrangee.’ The tempo is dropping and the voices of masses are beginning to be heard. Nigeria will show-case a true democracy because I believe that Nigeria will be better. Just very soon, when we get to the bridge, we shall cross it by the grace of God.

T H I S D AY • THURSDAY, JUNE 29, 2017

POLITICS

Okechukwu: Secession, Not an Option for the Igbos The Director-General of the Voice of Nigeria, Mr Osita Okechukwu, a die-hard supporter of President Muhammadu Buhari, in this interview with Tobi Soniyi and Shola Oyeyipo, admits that the Igbos have a genuine case to demand for equal treatment. However, leaving Nigeria, he said, is not an option. Excerpts In your view, is leaving the country the solution to South-east marginalisation? There are areas like the issue of number of state, because these states, none, since the civil war, was created by referendum. The states and local councils, yes! They are deliberate merginalisation of the Igbo. There is no doubt about that. But if it is whether the Igbos are accepted in this country, I would say yes, we are highly accepted. Acceptability in all nation states, especially in vast ones like ours, is measured not only by government but also by inter-personal relationship between individual where they inhabit. So, to that extent, the Igbos are accepted. The fault lines of tribe and religion do exist all over the world. Yes, it impact on Igbos; not as a single out, it is because of the law of what we call proportion. In about 28 states of the country, if you take an accurate census and tell everybody who is an original indigene of Lagos State – stand this side; the next tribe that lives here, stand the other side; the Igbos. I don’t know the other tribe that would come second. If you go to Kano, the same thing. If you go to Calabar, the same thing. If you go to Akwa-Ibom and Maiduguri, the same thing. It is only in Kaduna that you tell all the indigene to stay on one side that we can compete with any other tribe. Same in Kwara, Niger and Ondo State. We will beat any other person in Jos. To me, it is acceptability. And the Igbos have been allowed their businesses to thrive in the areas where they inhabit. Even in small villages and towns. We, by the grace of democracy and the cordial relationship; the Igbos produced two House of Representatives members from Lagos. It is acceptability in my own understanding. I keep on saying this and I also said for those who are agitating that we should leave that there are two platforms of exiting; one through democracy, one through force. Majority of the people, if asked, they will say they want to leave through democracy. And I said if that be the case, the highest organised Igbo position to any conference since the independence was the Abacha conference. The formal vice president – an elder statesman led the Igbo to that conference with one singe agenda; regions. Guess what happened? When it came to the turn of the regions, Enugu and Ebonyi States voted against region. Lagos and Ogun voted against region. Majority of the states in the South-south voted against region. Majority of the states in the North voted against region. Then there was a repeat performance; the 2005 Obasanjo conference. You might say that it was not democratic but the position is that those who went voted against region. In the Jonathan Constitutional Conference of 2014, the same voting pattern was repeated. No one region voted collectively for a regional government. Because it is very easy for us to talk about democracy and also when votes take place some people will say no, we were not there, but some people were there! We of the APC we opposed the Jonathan conference because our idea was because it was an emergency conference to railroad the Nigerian electorate into the Jonathan government but inspite of that, those who are more concerned and affiliated to the Biafran struggle, those that went to the Jonathan conference but they couldn’t vote even one region. So, we must take note of that. If you take note of that you will now ask yourself, what is the solution? I am 62 and I have never spent more than a year out of the country since I was born. It is what you pointed out. The overt structural marginalisation of the Igbos in state creation and local government creation. Overt in the sense that the truism is that the revenue of the country is being shared along this line. The representation in the National Assembly is being settled along these lines. If you say the number from the South-east it becomes three times five while in the regions that have six states they are 18. In the North-west that has seven they are 21. So, even if it is take away of the senators, it becomes marginalisation. And

Okechukwu.... Buhari is laying a solid foundation

we are one of the highest populated group in the country but if it comes to the issue of appointments under our present government, but the strict method of appointment in this regime is not peculiar to Igbos either. That is what I keep telling my people. I said in certain sections of the North there is agitation for us to scale it up so that there will be equity

If you look back at the Jonathan’s regime, the Igbos once had secretary to the Government of the Federation, minister of finance that coordinated the economy as well. We had minister of power two times. We had deputy senate president. We had deputy speaker and numerous juicy appointments, but the paradox is, under that regime, the Onitsha Bridge – the Second Niger Bridge was not done. The little he did was to package a PPP and did not pay the federal government counterpart fund before he exited

and justice and I believe that Mr. President acknowledges that that kind of noise exists. So, the issue of appointments for me; we have more than 2000 vacancies left, which I believe can be used to level. But guess what. If you look back, the Jonathan regime, the Igbos once had Secretary to the Government of the Federation, Minister of Finance that Coordinated the Economy as well! We had two-times Minister of Power. We had deputy senate president. We had deputy speaker and numerous juicy appointments under the Jonathan regime, but the paradox is, under that regime, the Onitsha Bridge – the Second Niger Bridge, the little he did was package a PPP and did not pay the federal government counterpart fund before he exited. The Obasanjo era, inspite of the Igbos in the PDP primaries in Jos, in February 1999, they still voted the PDP but between that 1999 and 2015, what is the result? Decayed infrastructure, dilapidated federal roads, nonrevamping of Enugu Coal and other essential minerals in the South-east. Yes, those who got SGF, Senate President, Deputy President of the Senate, Speaker, CBN Governor, they lived a luxurious life but the communities they come from are worst off. In this Buhari regime where we don’t get as much as they did then, federal roads are being addressed. The second Niger Bridge, Buhari has paid N14billion already out of about N30 billion that Federal Government of Nigeria is required to pay as counterpart funding on the bridge. He is also looking into Enugu coal. I was with the Minister of Solid Mineral, Dr. Kayode Fayemi. He is almost ramping up an arrangement to revamp Enugu coal with a South African company. While we had two ministers of power they did not do so. We once had Prof. Barth Nnaji and Prof. Nebo as ministers of power. What is worth praying for is for Buhari to return back to health, look into the agitations of several sections of the country that truly the appointment was against them. Because I believe when the president comes back, with over 2000 appointments left, there is enough room for redress. I am more interested on projects not appointment. 2019 is in the corner and there is this agitation that the presidency should go to the South-east, what is your view about that? My view is very simple. I have made it clear. I said that there is convention in public affairs. That is the law. The convention has its moral weight. The law has its legal teeth. It is the convention

that governs United Kingdom government. That is why they run an unwritten law. Lets not forget, when we got to the fourth republic, the Northern elites who have a better command of the Nigerian Army, said, in their own patriotic interest, for the country to remain united we should rotate power to the South and it went to the South-west. In order to heal the wounds of the outcome of the criminal annulment of Chief MKO Abiola’s June 12, 1993 general election. The assumption that gave birth to the convention we are living on, whether it is the APC constitution or not, whether it is in PRP constitution or not; the only party that has it in its constitution is the PDP but it was an outcome of that convention that was sold to save the Nigerian state, to create peace, harmony and peaceful co-existence. The gap of the eight years came with Obasanjo: 1999 to 2007. When Chief Obasanjo wanted to add, the Nigerian people said no. They rose on their feet. To obey that convention. Even the greatest reason why Jonathan lost the 2015 election outside the issue of corruption was that he was breaching a convention. I do not see if President Buhari returns to health, why I should tell the Igbos this is their turn. Rather, we are talking of 2023 when the North must have concluded eight years. Because the convention, in Nigeria, has become a life of its own. When the former president, Chief Obasanjo said it is the turn of the Igbos, I said when he finished in 2007 why didn’t he give the Igbos when he had the levers of power? Why is he now seating in his comfort at Hill Top Mansion and dishing out orders that it is your turn meanwhile from his own record he said he is no more member of any political party. So, is he giving what he doesn’t have? I saw it as mischief! Very great mischief by an elder statesman. So, left to me, if President Buhari returns to health, we should allow him to finish the solid foundation he is laying for the prosperity and progress of the country. Some people say there is no foundation. Why no foundation? Everybody agrees that they cannot take money as they used to do before. Buhari did not invent the TSA. He did not invent the BVN. But these are two instruments he had implemented and getting deeper. If you listen to the Minister of Finance, Kemi Adeosun, you need to see the level that socio-mechanism has taken Nigeria to. We are coming to a cashless society. So, how are you going to carry the money now? How? Your little account that money trickles in, suddenly you see N500m there, how do you explain it? Or you give it to somebody or your driver to keep it in my bedroom and when he finishes he whistles. He gets five percent of it. And according to Adeosun in one of her town hall meetings, she said they are not compelled to let people know who told government what. So that even the whistle blower is protected. Do you therefore agree that by 2023, assuming the president runs and completes his second term, it would be unfair not to zone it to the South-east? If President Buhari should stand on his feet; I don’t see anyone ..... look at what I told you. The other day we deliberately went on the road being constructed. For instance, Enugu-Onitsha. If you see the thickness of what RCC is putting on the ground there. By the time they complete only one lane of the dual carriage, for a people who could not travel without losing their tyres under unintended consequences of bad roads, you now tell them not to vote for Mr. president. I have also passed through Ilorin, Ibadan and Lagos because most of the time I travel on road. So, if you are traveling from Lagos to Ibadan and it becomes easier for you will you throw your vote away? With little fund and much is being done. The Igbos are not fools. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

THURSDAY, JUNE 29, 2017 • T H I S D AY

FEATURES

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

Incentivising Female Entrepreneurs Young and promising career-oriented women were recently given incentives by way of instant scholarships for entrepreneurial training in China, while several others got scholarship opportunities to launch their careers and be trained abroad in the aviation industry at the just concluded Women in Leadership and Career Empowerment Programme Africa mentorship workshop. Mary Ekah writes

n initiative of the MMS Plus Woman of Fortune Hall of Fame (WoFHoF) initiative, a non-profit organisation, the workshop assembled resource persons who are professionals in different sectors of the economy to impact a selected group of younger women who are students, graduates and career makers from different companies. Different speakers who delivered papers at the two-day mentorship programme held in Lagos, advised on making choices as the key to making a successful career and good home. MMS Plus Woman of Fortune Hall of Fame initiative is focused on role-modelling, capacity building, and leadership creation in young women. It has discovered and inducted 48 women of substance from across Africa into the hall of fame. These women are the mentors being paired with the mentees. Two mentorship candidates were given instant scholarship for entrepreneurial training in China, while several others got scholarship opportunities to begin career and be trained abroad in the aviation industry. Speaking on the topic, ‘Making a Career in Politics: Prospects and Challenges for Women’, the former PDP Women Leader, Lagos State, Chief Shola Benson-Oladeinde, advised that young women should have passion and also show love for their people if they should go into politics. “Once you have a passion that you want to be a politician then you should get yourself prepared. Another most important thing is that you must have a good source of income if you must be a good politician, so that you would not come into politics only bent on making money. So once you have a job, you would have your job running and then you would also have the passion to assist your people and also fight for your people.” Benson-Oladeinde encouraged young ladies to avail themselves the opportunities in politics, to serve and make remarkable impact in society, particularly to better the lot of women. She said that, contrary to a popular mindset

MMS Plus Woman of Fortune Hall of Fame initiative is focused on role-modelling, capacity building, and leadership creation in young women. It has discovered and inducted 48 women of substance from across Africa into the hall of fame. These women are the mentors being paired with the mentees

R-L: Ms. Oby Nweke, Princess Margaret Inam, Mrs. Chinwe Ezenwa, CEO, Le Look Nigeria Limited, Chief Eugene Nweke, Ex- President, NAGAFF, Mr. Kingsley Anaroke, Co-founder, MMS Hall of Fame, Mrs. Shola Benson-Oladeinde, former Women Leader, Peoples Democratic Party (PDP), Lagos State, Mrs. Taiwo OshinSolarinof ANLCA, Mrs. Ezinne Azunna and Mr. Nnamdi Eronini, at the event

R-L: Mrs. Ezenwa and Mrs. Ifeoma Iloh

that politics is a dirty game, the educated and young people going into politics could achieve the desired change by making the difference. Asked if today’s politicians are worthy role models that the young ones should emulate, she said, “Although many people today get involved in politics for their own selfish interest, solely because they do not have any source of livelihood so that whatever money they see, they want to pocket all. If they have a source of livelihood, they would have been working to sustain their families and while they are in politics they would be sincere and focused on taking care of people in their constituencies, so most

R-L: Mr. Adu; Mrs. Iloh; Mr. Kingsley Anaroke, at the event

of the politicians today are not doing the right thing. So whoever the masses want to vote into political office must be sure that he has a good source of livelihood and at the same time has a genuine love for his people.” She therefore called on young people who have ambition to be future politicians to ensure that they go to school. “Politics is not for dropouts, these days we want people who know their onions, people who are graduates and know what it takes to be a politician. Managing Director, Le Look Nigeria Limited, Mrs. Chinwe Ezenwa, another resource person who spoke on ‘Career

Management and Work Life Integration’, described the MMS mentorship programme as historic, noting, “As far as I am concerned, this is a bold initiative because this is what survived the Igbos right after the Civic War. The act of mentoring is what made the Igbo nation what it is today. So for him to initiate it mostly amongst women who are nation builders, is highly commendable and I think we should encourage him and I think many more women should come out each one to teach, and I am ready for it.” Sharing her experience as a young lady who was able to succeed by remaining focused and staying with the right choices, Ezenwa advised young women on the need

• T H I S D AY THURSDAY, JUNE 29, 2017

FEATURES for making the right choices. “What I am saying is that life is all about choices we make and you would agree with me that it is the choice you make today that determines your future tomorrow,” she said. “If you make good choices, you get good results and if you make bad choices, you get bad result. You have to be determined, focused and hardworking. You must also be ready to juggle your family life with your career life and as a woman, you must be multitasking. Do not neglect your family life for your career life because that is what is causing broken homes today and a lot of delinquencies are coming out of broken homes today. You must be a diehard workaholic for you to succeed as a woman. And to get what you want, you must also let others get what they want.” Speaking also, Chief Eugene Nweke, a former president of the National Association of Government Approved Freight Forwarders (NAGAFF) delivered his paper on ‘Making a Career in the Maritime Industry: Opportunities and Challenges’. While exposing the mentees to the various sub-sectors of the maritime industry as well as encouraging them on the opportunities that abound for women in the industry, Nweke stressed on the need for a personal drive to make headway and succeed in the industry, irrespective of the challenges people may face. Explaining why his organisation has suddenly delved into the empowerment of young women, the Convener, Kingsley Anaroka, said, "we have been into MMS Hall of Fames and we have done several editions and the next edition is holding by October. The Hall of Fame is actually about discovering and celebrating people, especially women, who have excelled in different fields of endeavours and then the idea of assembling them is to be able to have them mentor the younger generation. "So in essence, what we have here today is the second phase of the MMS Hall of Fames. Over the years, we have always had the issue of appealing to people for support and so this year we decided that instead of continuing to beg people to support us for the annual event to hold, we decided that we have to go full fledged NGO. So today as it is, MMS Women of Fortune Hall of Fames, is a full-fledged non-governmental organisation in Nigeria and we are already spreading our tentacles beyond Nigeria to Africa. "So as it is now, this is the second phase and what we have here now is under the scheme called, Women in Leadership and Career Empowerment Programme (WILCEP). We would be having programmes under this scheme from January to December every year. So this is the second leg of the Hall of Fame and then the third one is when we are able to match make the mentees you have seen here today with the Hall of Famers, and they would have a minimum of six months for the mentorship and we would be doing this annually," he explained. On why he is focused on women specifically, he said, “I am focusing on women because I love women. I have a passion for what I am doing. I am one person who does not like seeing women being maltreated. One thing I hate most is seeing

The Hall of Fame is actually about discovering and celebrating people, especially women, who have excelled in different fields of endeavours and then the idea of assembling them is to be able to have them mentor the younger generation

Participants at the event

Rejoice delivering her paper at the event

Participants, resource persons and organisers of the event

a man beat his wife. No matter the level of provocation, don’t touch your wife but

the fact remains that I have the passion for touching lives, I discovered that I have

this bias for women. May be it is just a natural calling.”

IMAGES

T H I S D AY • THURSDAY, JUNE 29, 2017

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

R-L: Chief Operating Officer, MTN Nigeria, Muhammed Siddiqui; Managing Director, Airtime Networks Ltd, Mrs Ilina Rabiu; Managing Director, Fantel Nigeria Ltd, Adamu Fanda; and Ag. Sales & Distribution Executive, MTN Nigeria, Adekunle Adebiyi, at the Stakeholders engagement forum in Kano State... recently

L-R: Glo Subscriber and winner of a dance completion, Omolola Sodiq; second runner-up, Oluwatomisin Yinusa; Nollywood legend, Patience Ozokwor, and first runner-up, Ayomide Mustapha, at the mega comedy show, Glo Laffta Fest in ljebu Ode, Ogun State.....recebtly

L-R: Head of the Oyegbemi Ojora Royal family, Baba Aduni-Onisemo; Ojora of Ijora Kingdom, Oba Fatai Oyeyinka Aromire and Alhaji Muhammed Mudashiru Lateef , during the visit to Oba’s Palace for the Eid-elFitr celebration...recently

L-R: Oyo State Governor, Senator Abiola Ajimobi; and Assistant Inspector-General of Police, Zone 11, Mr. Agboola Oshodi-Glover, during a courtesy call on the governor, in Ibadan..recently Governor’s Office

L-R: Rightville School Proprietress, Dame Chinwe Nwakwe; a PTF Executive, Mrs Joy Ozims; member of staff of the school, Miss Grace Opare receiving long service award; Mrs.Bolanle Anthony-Kalu and Mr Sanni Olugbenga, during the 20th Anniversary celebration of Rightville School in Lagos.... recently.

L-R, Zonal Head,North Central Zone Stanbic IBTC ,Mr Victor Aghahowa,Chief Executive Officer Mecon Nigeria Limited ,Usman Mohammed and Executive Director, Stanbic IBTC,Mr Macaulay Babatunde during the Stanbic IBTC Platinum Banking Exclusive Dinner ,Themed; Helping You Stay Ahead ë in Abuja...recently

Chairman, Eleganza Group of Companies, Alh. Rasaki Okoya (middle), distributing foods and drinks to the Muslim faithfuls, during the eid-el-fitri muslem prayer at Oluwanisola Eleganza estate praying ground in Lagos...

L-R; Managing Director, Global Accelerex, Mr. Tunde Ogungbade; Executive Director, Retail and North Directorate, Wema Bank Plc. Mr. Moruf Oseni; Chief Digital Officer, ALAT, Wema Bank, Mr. Dele Adeyinka; and Head of Department, PayAttitude Bank Channel, Unified Payments Services Ltd. Mr. Obehi Ebhomielen, at the Digital Pay Expo 2017 in Lagos...recently SUNDAY ADIGUN

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Quick Takes

NEF Launches Science Week

The Next Einstein Forum (NEF), an initiative of the African Institute for Mathematical Sciences (AIMS), in partnership with Robert Bosch Stiftung, has announced the launch of NEF Africa Science Week in Abeokuta and Lagos. NEF Ambassador, who specialises in petroleum and environmental geochemistry of oil basins, Dr. Sojinu Olatunbosun Samuel, will lead the event. AIMS President and CEO who is also NEF Chair,Thierry Zomahoun, said: “The NEF Africa Science Week is the first coordinated science week across Africa. Our primary objective is to develop tomorrow’s scientists and technologists by engaging children and young people in scientific activities like science caravans and hackathons. “Our activities will also demonstrate the critical impact of science to the general public. By bringing together key stakeholders from all sectors, we hope to catalyse investment in research and development and discuss best practices for attracting and retaining young people, especially girls and women, in the sciences.” “The weeklong signature event will also strengthen research networks and communities of scientists across Africa and we hope that the next few editions will see technology facilitate coordinated regional activities,” Zomahoun said.

WE APPRECIATE YOUR VISIT

National President, National Association of Chambers of Commerce, Industries, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson (second right), making a presentation to EUropean Union Ambassador in Nigeria, Mr. Michel Arrion. With them are the National Vice President, NACCIMA, Mr. Adeniyi Ogunsanya (L) and Head, Trade and Economic Section of EU in Nigeria, Mr. Filippo Amato, during the EU team’s visit to NACCIMA’s office in Ikeja …recently

Nigeria to Become Africa’s Fastest-growing Hospitality Market by 2021 Obinna Chima Nigeria is expected to be the fastest-growing hospitality market from a revenue perspective over the next five years with a projected 14.7 per cent compound annual increase in revenue, PwC stated in the 7th edition of its ‘Hotels Outlook: 2017-2021.’ According to the report obtained Tuesday, the country was expected to benefit from an improving economy, continued growth in domestic tourism, and expansion in the number of available rooms. A number of projects in Nigeria have been delayed or postponed in the wake of the recent economic uncertainty. The hotel market in Nigeria rebounded in 2016 with a 5.2 per cent increase in total revenue.

ECONOMY “Nigeria is projected to be the fastest-growing market from a revenue perspective over the next five years. This is mainly due to an improved economy, continued growth in domestic tourism, and expansion in the number of available rooms. “Overall hotel room revenue is expected to expand at a 14.6 per cent, compound annual rate to US$517 million (R7.6 billion) in 2021 from US$261 million (R3.8 billion) in 2016,” the report added. South Africa was projected to be the next-fastest growing market with a 9.3% compound annual increase in room revenue, most of which will be generated by rising average room rates and continued but moderating growth in tourism. According to the report,

South Africa’s hospitality sector was poised for further growth in the next five years bolstered by inbound travelers amid a difficult and volatile economic climate. Hospitality & Gaming Industry Leader for PwC Southern Africa, Pietro Calicchio said: “Africa’s hotel sector has remained resilient in the face of strong economic headwinds.” The report projected that South African hotel room revenue would grow by 10.1 per cent in 2017 to R17.5 billion. Overall hotel room revenue for South Africa was expected to expand at a 9.3 per cent compound annual rate to R24.8 billion in 2021 from R15.9 billion in 2016. The PwC report stated that the outlook for the hospitality industry for 2017 was positive with an increase in the number

of international visitors to South Africa expected. “One of the positive outcomes for the hotel market in South Africa was the amendment of visa requirements that required foreign visitors from certain countries to provide biometric data in person. International visitor numbers to South Africa rebounded significantly in 2016 with a 12.8% increase as compared to the 6.8% decrease in 2015,” Calicchio commented. Visits from China and India increased in 2016 as a result of the relaxation in the visa requirements; travellers from China to South Africa increased by 38% and India recorded a 21.7% increase. Of non-African countries, the UK is still the largest source of visitors to Continued on page 24

European Commission Slams Google with €2.4bn Fine Emma Okonji with agency report The European Commission (EC) has fined Google €2.42 billion (N866 billion) after ruling that the internet giant abused its market dominance as a search engine by illegally promoting its own shopping comparison service. Although the EC has ruled over the fine, Google however said it ‘respectfully disagrees’ with the ruling, and is considering an appeal. The search giant must end the practise within 90 days or face penalty payments of up to 5 per cent of the average

ICT daily worldwide turnover of Alphabet, Google’s parent company. Based on Alphabet’s most recent financial report, this would amount to approximately $14 million per day, according to BBC report. In a statement, the EC said Google was guilty of breaching European Union (EU) antitrust rules after systematically giving prominent placement to its own shopping comparison service, first launched in 2004, on its search engine. From 2008, the European watchdog said Google began to implement a fundamental

change in strategy to push its comparison shopping service in European markets. “This strategy relied on Google’s dominance in general internet search, instead of competition on the merits in comparison shopping markets,” read the statement. Google’s actions also had the effect of demoting rival comparison shopping services in its search results, as the company used generic search algorithms which led to rival services appearing lower in the rankings. “As a result, Google’s comparison shopping service is much more visible to

consumers in Google’s search results, whilst rival comparison shopping services are much less visible,” said the EC. Commission Margrethe Vestager said Google’s strategy for its comparison shopping service was not just about “attracting customers by making its product better than those of its rivals, it denied other companies the chance to compete on the merits and to innovate. “And more importantly, it denied European consumers a genuine choice of services and the full benefits of innovation,” Continued on page 24

OLX, Champs Register with LASRAA

Leading online classifieds site, OLX.com.ng, has partnered the Lagos State Resident Registration Agency (LASRAA) to register all OLX staff and Champs, sales experts that help users buy and sell on the OLX platform Speaking on the partnership, the OLX Business Development Manager, Mayokun Fadeyibi, said: “Trust and safety is our number one priority on the OLX platform. With this additional identity verification of the OLX Champs we have created a credible database for our Champs and also provided the OLX Champs with the benefits of being a Lagos State Resident. Fadeyibi, also added that OLX through the launch of the ‘Do it for me service’ has empowered over a hundred unemployed youths by giving them the opportunity to earn a healthy income when they help users buy and sell on the OLX platform. General Manager, LASRRA, Kayode Ogunnubi, who was represented by a senior management staff at the agency, Abiodun Ajayi, said: “We are excited to partner with OLX to register their staff and Champs.”

Promasidor Identifies with Muslims

Promasidor Nigeria Limited, makers of Cowbell and Loya Milk, has felicitated with Muslims in the country as the holy month of Ramadan comes to an end. Ramadan is the month in the Islamic calendar (Hijrah) and it is obligatory for Muslims to fast during this period as this is considered the fourth pillar of Islam. Promasidor’s Category Manager – Dairy, AbiodunAyodeji, acknowledged that Ramadan is a period when Muslims abstain from food and drink from dawn to dusk and therefore prayed for Allah’s bountiful blessings and rewards on their lives for this sacred obligation. He affirmed that the company is particularly delighted that many of the faithful have taken Cowbell and Loya Milk as their main source of nutrition and refreshment in this period of penitence and self-denial.

AAAN Holds 44th AGM

The Association of Advertising Agencies of Nigeria (AAAN) plans to hold its 44th annual general meeting/congress in Lagos State. According to a press statement issued by the Executive Secretary of the professional body, the event will hold from Thursday, 6th to Saturday, 8th July, 2017 in Lagos. The theme for this year’s AGM is “Fresh Thinking”. The President of the Association, Mr. Kayode Oluwasona, noted that the Association aimed to use the AGM as a platform to stimulate fresh perspectives and critical thinking that advocate unorthodox solution to the challenges facing the business and practice of advertising in Nigeria.

“We need state government support for the procurement of Set-Top-Boxes for digital switchover, as well as assistance for the installation of transmission systems across states”

DG, National Broadcasting Commission (NBC), Mr. Ishaq Modibbo Kawu

T H I S D AY •THURSDAY, JUNE 29, 2017

BUSINESSWORLD NIGERIA TO BECOME AFRICA’S FASTESTGROWING HOSPITALITY MARKET BY 2021 South Africa at 447 840 in 2016. Overall, room revenue in South Africa rose 12.2% to R15.8 billion in 2016, the biggest increase since 2013. Over the past five years, the occupancy rate has risen, surpassing the 60% level and reaching 61.2% in 2016. This gain has stimulated interest and a number of new hotels are expected to open in the next five years. Five-star hotels have had the highest occupancy rates in the market at 79.3% in 2016. Room revenue for five-star hotels is expected to expand at an 11.4% compound annual rate to R4.2 billion in 2021 from R2.4 billion in 2016. Calicchio added: “The hotel market in each country is affected by both the local and global economy, with some countries being more dependent on foreign visitors than others. We are also seeing certain local governments continuing to invest in infrastructure and implementing other plans to unlock the substantial potential that this industry has to bring.” EUROPEAN COMMISSION SLAMS GOOGLE WITH €2.4BN FINE she said. The Commission is still investigating Google’s actions related to the Android platform, having come to the preliminary conclusion that a dominant position has been abused. This is related actions which stifled choice and innovation in mobile apps and services, to protect Google’s own products, Vestager said. In a blog post, Google’s General Counsel, Kent Walker, however said the company ‘respectfully disagrees’ with the decision, and was considering an appeal. It also suggested that rivals Amazon and eBay had more influence over user spending habits. “When you use Google to search for products, we try to give you what you are looking for. Our ability to do that well isn’t favouring ourselves, or any particular site or seller – it’s the result of hard work and constant innovation, based on user feedback,” Walker said.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (Cap Mkt)

NEWS

CBN Drills Anambra Farmers, Traders, Artisans on MSME Loan Procedures Nigeria to become net exporter of rice by 2018

Amby Uneze in Owerri The Central Bank of Nigeria (CBN) has embarked on sensitisation of Nigerians, especially farmers, traders, artisans, and micro small and medium enterprises (MSMEs) on the procedures for doing business by obtaining loans to finance them to export their products to earn foreign exchange. In one of such programmes held at the Prof. Dora Akunyili Development Centre in Awka, Anambra State, the acting Director, Corporate Communication at the CBN, Mr. Isaac Okoroafor said that the intention of the central bank was to create a platform for Nigerians to understand what the apex bank does especially her interventions in the real sector and how they can benefit from it. He decried the dependency on foreign products and services even when Nigerians could produce such goods, especially in the food sector where “we have become major consumers of foreign goods without the commiserate export to match the foreign exchange.” According to him, “we are here to explain to the people some of our policies especially our foreign exchange policy and to make them realise that we have come to a point as a country where we must decide to produce what we eat and eat what we produce.” Okoroafor maintained that no nation could develop by depending on foreigners for its food needs, adding that the only way to grow the nation’s economy and advance the country was to ensure that “we apply our creative energies in innovation, in

creativity to production”.He stated that Central Bank of Nigeria was ready to provide the financial support by way of loans at 9 percent interest to all Nigerians, especially the creative, enterprising and hardworking people of Anambra State to enable them produce, add value, even to export and make money to better their lives and to bring up their children. Furthermore, he said the CBN has all kinds of loans; for manufacturers, for agriculture (smallholder farmers, medium size farmers and even commercial agriculture). We have loans for artisans, for those who are engaged in cottage

industries, for those who sell recharge cards, mechanics, vulcanizers, beauty salon operators under our MSME development fund scheme. “We have loans for fresh graduates who are still doing their Youth Service or who have finished Youth service in the last five years. All that is required of them is to go through our Entrepreneurship Development Programme, where they will be given a short training to understand what they would be going and how to write business plans, and the only thing that is required is for them to show passion for what they want to do and for them to deposit their

Certificates as collateral. “We have also established a National Collateral Registry (NCR) where you register your moveable assets, so that people can get micro loans by using what they already have to obtain loans and still be using their assets at the same time”, he noted. On the 41 items which the CBN had banned from accessing forex from its window for their importation in order to promote indigenous products, Okorofor stressed that it is foolhardy for a country to spend scarce foreign exchange to import what the country could produce such as rice, eggs and toothpicks, etc. “We reserve our foreign exchange for critical inputs that

will bring back the production lines in factories that would support the farmers to grow more food. Those are our critical needs. We have for the first time in many years reversed the nation’s misfortune in rice production to the extent that by the end of next year Nigeria would become a net exporter of rice. “We have done it in Kebbi, it is going on in Anambra, Enugu, Ebonyi, Kano, Sokoto, Jigawa. In Ogun State we have it in fish. So our Anchor Borrowers Programme tries to set up a process that will enable farmers get the most critical inputs and the best practices”, he stressed.

PUTTING HEADS TOGETHER

L-R: Chairman, CAP Plc, Mr. Larrry Ettah and Managing Director, Mrs. Omolara Iswat Elemide, during the Annual General Meeting (AGM) of the company in Lagos...recently

Y’ello Box Ushers Full Electricity to Nigeria via Mobile Phones Stories by Emma Okonji In what has turned out to be the world’s first, Nigeria is pioneering a new solar electricity service that is capable of providing full electricity supply across Nigeria, through the support of the mobile phone. The service, which comes with 24/7 full electricity supply for Nigerians, is already transforming lives in the country. The Y’ello Box is a solar electricity system that was officially launched earlier this year and allows families and business owners to harness the power of the sun cheaply and efficiently, in a way they have never seen before. In homes, clinics, schools and businesses across Nigeria, people are running fans, charging phones, watching television and lighting rooms, all using affordable, reliable, clean electricity. The Y’ello Box is already powering the lives and businesses of more than one hundred thousand Nigerians, according to Lumos Mobile Electricity the driver of the initiative. Designed and operated by Lumos Mobile Electricity Service, the Y’ello Box pro-

vides electricity to customers 24 hours a day, and seven days in a week, which people pay for using their MTN mobile phone. According to Lumos, It has proved itself to be the most reliable and affordable service on the market, with customers delighted at the switch from traditional fuel. CEO of the Lumos Mobile Electricity Service, Yuri Tsitrinbaum, said: “People don’t have access to the power they need. Fuel is very expensive and other services are unreliable. The Y’ello Box saves customers money all while providing better and more reliable electricity. As Nigeria modernises, demand for power increases. It’s time we did more to harness the power of the sun. That is why the Y’ello Box is changing so many lives. It is affordable, it is reliable and paying by mobile phone makes it easy.” According to him, “Lumos is growing rapidly across Nigeria, as we invest more money, create business opportunities for Nigerians and employ more and more people. Equally important is the fact that the service is improving the everyday

operations of community centres like schools, health clinics and religious institutions.” Working in partnership with MTN and the Overseas Private Investment Corporation of the

US Government, Lumos said it has committed over $80 million for the deployment its solar-based electricity in Nigeria, half of which has already been invested. In Nigeria Lumos employs more

than 450 people, including technicians, engineers and a large sales force. There are ambitious plans to grow and provide power to one million Nigerians by the end of 2017, Tsitrinbaum said.

MinisterHarpsonBoostingNigeria’sEconomy through ICT The Minister of Communications, Adebayo Shittu has said the ministry will continue to do everything possible to leverage Information and Communications Technology (ICT), in order to rejuvenate Nigeria’s economy as well as encourage massive online job creation through the implementation of various initiatives. The minister who spoke in Ile-Ife, Osun State, while delivering a keynote address at the opening ceremony of the Ife Youths Economic Summit (IYES 2017), said: “In this onerous task, 28,800 unemployed youths nominees across various states of the federation were trained in online job (Micro-work and E-lancing). The ministry also said it has established incubation hubs in Lagos and Calabar, which are private and public sector collaboration aimed at catalysing

the ICT industry by helping Nigerian ICT entrepreneurs create successful businesses, support the interactions between innovations and their partners and developing indigenous skills and capabilities. He added that the target of this initiative is to create 25 successful ICT businesses by 2015. Striving to make the ICT sector the 4th pillar of the nation’s economy in terms of contributions to the Gross Domestic Product (GDP), Adebayo said the sector, which is the fastest growing and which has contributed 9.58 per cent to the country’s GDP, trained 1000 girls in ICT in collaboration with Huawei Technologies and have sent 20 best amongst the 1000 girls already in Nigeria to China in April this year for further training. The ministry, according to him, plans to build technical

and job-ready ICT skills to replace expatriate expertise with highly skilled Nigerians, increase the supply of local highly skilled talent to a fast growing sector and enhance ICT industry employment opportunities. He said that so far, the Digital Bridge Institute and other tertiary institutions are concluding an agreement with IBM Skills Development and Research Institutes to train 25,000 resources in five years (2013-2018) per institute. “Similarly, partnership agreement has been signed with Cisco to build Cisco Academy for highest certification (CCIE: Cisco Certified Internetworking Expert) in Nigeria and with Nokia on MLab Project. The implementation of the Nokia Life programme for farmers is also at the advanced stage.

T H I S D AY •THURSDAY, JUNE 29, 2017

BUSINESSWORLD

ANALYSIS

Fixing Nigeria’s Decades-long Infrastructure Decay The federal government’s resolve to address Nigeria’s long-running infrastructure problem to reshape her economy is a step in a right direction, but achieving this goal will depend not on “how much” but “how well”, writes Chika Amanze-Nwachuku Acting President Prof. Yemi Osinbajo penultimate week, signed the belated 2017 appropriation bill into law. The budget, which was passed into law by the Senate last month, was raised to N7.44 trillion from the N7.28 trillion earlier proposed by President Muhammadu Buhari in December last year. Osinbajo stated at the signing that the budget would be implemented in line with the recently launched Economic Recovery and Growth Plan (ERGP), aimed at bolstering Nigeria’s ailing economy. He emphatically stated that the 2017 budget “will trigger activities in the domestic economy, which will lead to job creation and more opportunities for employment, especially for our youth.” Details of the budget as provided last week by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, showed statutory transfers of N434.41 billion; debt service of N1.66 trillion; sinking fund of N177.46 billion to retire certain maturing bonds; non-debt recurrent expenditure of N2.99 trillion; and capital expenditure N2.36 trillion (inclusive of statutory transfers). He identified some of the major capital allocation sectors as the Power, Works and Housing Ministry, which got N553.7 billion; Transportation – N150 billion, Defence – N104.24 billion, and Interior – N151.91billion. Udoma also disclosed that N40 billion was allocated to defray the electricity debts of the ministries, department and agencies (MDAs). The 2017 Appropriation bill was predicted on a benchmark crude oil price of US$44.5 per barrel and oil production estimate of 2.2mbpd. The overall projected fiscal deficit was put at N2.36 trillion, about 2.18 per cent of gross domestic product (GDP). The huge amount allocated for debt service in the 2017 budget proposal has continued to elicit condemnations from economic analysts, who noted that the allocation of 24.73 per cent of the overall budget proposal to debt service was a sign that another debt crisis is brewing in Nigeria. Analysts also picked holes on the dilated overheads, emphasis on spending and huge recurrent expenditure over allocation for capital projects. However, other analysts have argued that it is not a sin for a country to borrow money, but the concerns should be about how the money is utilised. They pointed out that in the past, monies borrowed for capital projects were not utilised for that purpose, but instead, were diverted to private pockets. They reasoned that the government should hit the ground running by making funds available for capital projects. Need for Robust Infrastructure Nigeria’s infrastructure across board is in bad shape. Most major roads and bridges are in dilapidated condition and require major repairs; the power sector is still bedevilled by sundry issues, the health and education sectors are equally in poor condition. Fixing these problems could create millions of jobs; curb the rising unemployment, reduce crime rate, and return the recessed economy to a sustainable growth path. The United States drew itself out of the 1930s Great Depression through massive infrastructure investments. In fact, established countries like United Kingdom and Germany invest nonstop huge sums of money to ensure the continuous operation of their creaking old infrastructure networks, while many developing nations are starting from a rather clean slate and are even investing big in latest technologies. At an advocacy roundtable organised last year, by the Nigeria-British Chamber of Commerce in Lagos, experts posited that the desired national economic development will remain a mere wish that cannot be achieved unless necessary actions are taken to bridge the infrastructure gap. Managing Director, African Finance Corporation (AFC), said Andrew Alli, who spoke on

Adeosun

‘Achieving Sustainable Development through Infrastructure -The Role of the AFC.’, argued that for a sustainable infrastructure development to happen, policy instability, poor legal and political framework, lack of a holistic view of national planning, lack of coordination between government agencies as well as limited capacity of civil servants must be addressed. He stressed that stakeholders must tackle infrastructure challenges creatively, target private sector funding and integrate training and job creation components into projects from conception, adding government must also ensure a favourable environment that would ease cost of doing business. He attributed project failure in Nigeria to overestimate revenue and growth potential, insufficient attention to mitigating and controlling risk at the design phase, lack of confidence between the project stakeholders, ability to monitor project development and predict emerging risks and poor planning of asset operation. Importance of Infrastructure Robust infrastructure could put millions of Nigerians to work in decent paying jobs. Electricity is crucial to fuel the economic growth of a country; a road improves productivity; Schools increase education levels and productivity. And so on. These all have important medium- and long-run implications for an economy. A key benefit of infrastructure, especially transport infrastructure, is the reduction of transport costs, which helps to create new markets, fuels further agglomeration, which in turn fosters competition, spurs innovation, lowers prices and raises productivity, leading to an increase in living standards. Group Executive Vice Chairman, SIFAX Group, Dr. Taiwo Afolabi, cautioned recently that the lack of critical infrastructure could hinder the success of the federal government’s drive to improving the ease of doing business in the country and urged that the problem of infrastructure deficit should be urgently addressed in order to compliment the executive orders signed recently by the acting President. To spur economic growth and development, the federal government has taken the bull by the horn and has taken steps to bridge the infrastructure deficit. At the third Nigerian Stock Exchange (NSE) & Bloomberg Chief Executive Officer Roundtable in Lagos recently, the Minister of Finance, Mrs. Kemi Adeosun had said the federal government was commitment to infrastructure development and economic diversifying. She said about N200billion was invested on roads in 2016.

Udoma

Adeosun said the N200 billion, which was an increased on the N90 billion spent in 2015, is out of the N1.2 trillion earmarked for capital projects to ensure ease of doing business. According to the minister, the government will continue to prioritise infrastructure development to unlock growth potential, pointing out that the diversification of the economy would not be achieved without a good transportation system and power supply to improve ease of doing business. The minister said the country was very vast and to actualise her potential, infrastructure development was very crucial for sustainable growth and development. A ‘Big Plan’ for Infrastructure To this end, Adeosun said last week that her ministry was set to release N350billion, being the first tranche for the capital votes included in the 2017 Appropriation Act. The finance minister, who spoke at the public presentation of the 2017 Appropriation Act, emphatically stated that the government had enough cash available to commence the execution of key projects and initiatives scheduled for the 2017 fiscal year. “We are ready, we are having a cash-plan meeting very soon and after that, N350 billion will be released as first tranche of capital releases for the 2017 budget,’’ the minister said. Speaking in the same vein, Udoma, listed some major capital expenditure allocations as N553.71billion for Power, Works and Housing; N241.71billion for Transportation; N150 billion for Special Intervention Programmes; N139.29 billion for Defence; N104.24 billion for Water Resources; N81.73 billion for Industry, Trade and Investment; N63.76 billion for Interior; N151.91 billion for Education (including Universal Basic Education Commission); N55.61 billion for Health; and, N103.79 billion for Agriculture. Some major initiatives in the 2017 Budget include: N100 billion provisioned for a new Social Housing Programme; N46 billion for Special Economic Zone Projects to be set up in each of the geo-political zones to drive manufacturing / exports; N16 billion voted for the revival of the Export Expansion Grant (EEG) in the form of tax credits; N15 billion to recapitalise Bank of Industry (BoI) and Bank of Agriculture (BOA) to strength their capacities to support micro, small and medium scale enterprises (MSMEs). Roads and Bridges About 65 road projects are included in the budget. According to Udoma, the over 65 roads and bridges undergoing construction and rehabilitation

are located across the six geopolitical zones of the country. The breakdown as captured in the budget are as follows: N10billion for the rehabilitation/reconstruction and expansion of Lagos-Shagamu-Ibadan dual carriageway Sections I & II in Lagos and Oyo States; N13.19bn for the dualisation of Kano-Maiduguri Road, Sections I-V; N10.63bn for rehabilitation of Enugu-Port Harcourt dual carriageway, Sections I-IV; N7bn for the construction of Second Niger Bridge including access roads phases 2A & 2B; N7.12bn for the dualisation of Abuja-Abaji-Lokoja road; N9.25bn for the dualisation of Obajana junction to Benin road Phase 2 Sections I-IV; N7.5bn for the rehabilitation of Onitsha-Enugu dual carriageway; N7bn for the construction of Bodo-Bonny road with a bridge across the Opobo channel; N3.3bn for the rehabilitation of Ilorin-Jebba-Mokwa-Bokani road; N3.5bn for the dualisation of Odukpani-Itu(SPUR IDIDEP – ITAM) – Ikot Ekpene federal highway Lot 1: Odukpani-Itu bridgehead; N1.5bn for the dualisation of Kano-Katsina road Phase 1; N2.24bn for the dualisation of Suleja-Minna Road, Sections I & II; N2.3bn for Gombe-NumanYola Phase II (Gombe – Kaltungo); N2.7bn for the construction of Kano Western bypass; and N2.03bn for the construction of the terminal building at Enugu airport. Given the huge amount of money that would be required for actualisation of these laudable projects, there have been growing concerns about the possibility of raising funds for the projects. But Udoma allayed those fears when he stated that there would be prudent management of overhead costs in order to provide adequate funds to execute capital projects. He said strenuous efforts were being made to find the resources required. “We are challenging our revenue generating agencies, particularly the FIRS and Customs, to improve efficiency and broaden their reach so as to achieve the targets set for them in the 2017 budget”, he said. The implementation of the 2016 budget was hampered by a combination of massive drop in oil prices and disruptions in crude oil production, which resulted in significant shortfalls in the projected revenue. There are also concerns that the dwindling oil price from the 2017 high of $55 per barrel in February this year, may hinder the attainment of the 2017 target. This development, analysts said, should compel the government to not only strive to boost internally generated revenue, but to strengthen alternative revenue sources to shore up the country’s foreign earnings.

T H I S D AY •THURSDAY JUNE 29, 2017

BUSINESSWORLD

E-BUSINESS

As NCC Moves to Salvage Etisalat Following the threat posed by its lenders, the Nigerian Communications Commission renewed efforts last week to save Etisalat from going under, writes Emma Okonji As the banks continue to close in on Etisalat with series of threats to take over its telecoms business, following its inability to pay the balance of the $1.2 billion loan it took from a consortium of 13 local banks in 2013 for network upgrade and expansion, the Nigerian Communications Commission (NCC), the telecoms industry regulator, last week, issued a fresh letter to Access Bank, the leader of the consortium, informing them of what could befall Etisalat, if they are allowed to make do their threats. The fresh letter from NCC, which was copied other members of the consortium, was a follow up of series of meetings between the NCC, the Central Bank of Nigeria (CBN) and the banks, at the instance of the NCC. NCC’s fresh letter Worried about the implications of the planned takeover of Etisalat’s business by its creditors, the NCC had written the banks, explaining the adverse effect of the planned action. The letter, which was signed by the Executive Vice Chairman of NCC, Prof. Umar Garba Danbatta, was dated June 21, 2017. A copy of the letter, which was made available to THISDAY, was also sent to the Governor of CBN, and the managing directors of GTBank and Zenith Bank, who are part of the consortium. Part of the letter read: “The Commission, as a responsible regulator, is concerned about the likely implications of the takeover for subscribers on the Etisalat network in particular and the telecoms industry at large.” Citing the Commission’s Act 2003, Danbatta insisted that Etisalat’s licence cannot be assigned or sub licenced or transferred to any other party, unless the prior written approval of the Commission has been granted. Danbatta therefore, directed Access Bank to convene a meeting between the Commission and the management of the 13 banks and revert to NCC as soon as the date for the meeting was fixed. NCC’s previous intervention The NCC and the CBN had in the past, held several meetings with Etisalat and its creditors to stop the banks from taking over the telecoms company. The CBN and the NCC tried to intervene through series of meetings. First, the NCC brokered a meeting in Abuja with the Central Bank of Nigeria to find a lasting solution to the situation of indebtedness by Etisalat. The meeting was attended by the Executive Vice Chairman of the NCC, Prof. Umar Danbatta, the CBN, Mr. Godwin Emefiele, and his team. At that meeting, a decision was reached to intervene in the loan issue between Etisalat Nigeria and the consortium of commercial banks. The meeting, which held at the CBN headquarters in Abuja, was convened by the financial regulator at the instance of NCC, to further deliberate on how best to stave off the attempt by the banks to take over Etisalat. At the end of the meeting, the CBN invited Etisalat’s management and the banks to another meeting, where the banks’ planned takeover move was halted. Since then, there had been series of meeting between Etisalat and the banks, but no tangible conclusion was reached. The issues Etisalat had in 2013, approached a consortium of 13 local banks for a loan of $1.2 billion for network upgrade and expansion, and the money was sourced in both dollar and naira denominations. Citing economic downturn of 2015 and consequently sharp devaluations of the naira, which negatively impacted on the value dollar-denominated loan, Etisalat wrote its creditors and informed them of its intention to halt the installment payment of the loan, until such a time that it was able raise more money. Unsatisfied with the excuse from Etisalat to halt the payment, the banks, led by Access Bank, threatened to takeover the operations of the telecoms company, should it fail to meet up with the payment obligations. This situation forced Etisalat to enter into series of negotiations with the banks, offering them different payment options, which the banks rejected. The issue ,

Danbatta

however, got to its climax penultimate week, when Emirates Telecoms Group Company, Abu Dhabi, one of its core investors, pulled out of the shareholding structure, a move that raised panic among Etisalat’s subscribers. The Emirates Telecoms Group Company, Abu Dhabi, announced at the Abu Dhabi Securities Exchange in Abu Dhabi, United Arab Emirates, its intention to pull out of the Etisalat Nigeria structure, and approved a complete transfer of 100 per cent of its shares in Etisalat to the United Capital Trustees Limited, the legal representative to the consortium of banks. Although it is not clear whether the remaining two core investors-Mubadala Development Company, UAE; and Emerging Markets Telecommunications Services (EMTS), will also announce their pullout plan, sources said they may be searching for willing investors that are ready to buy up their shares, so that they can have

“The actual outstanding on the Etisalat loan is about $500 million (N165 billion). This is in view of the fact that Etisalat has efficiently serviced the $1.2 billion loan up until earlier this year when discussions with the banks regarding the repayment restructuring commenced. I can confirm to you in confidence that the company has made repayment of over 50 per cent of the original loan so far

Emefiele

enough money to pay off the banks. The announcement, which was perceived by many as a crack in the stronghold of Etisalat Nigeria, has continued to raise concerns as to the survival of the telecoms company, under the management of banks. Not showing any sign of distress, which the pullout could cause, Etisalat said the pullout and change in shareholding structure would not affect its operations, while promising it’s over 20 million subscribers of steady quality service, going forward. The $1.2billion loan, is a medium-term seven-year facility, obtained by Etisalat for the purpose of expanding its network and improving the quality of service on its network. Etisalat’s position In all of these, a source close to Etisalat claimed that it has paid over 50 per cent of the actual loan of $1.2 billion obtained from the consortium of banks. The banks have however denied the claim, insisting that Etisalat failed to repay its debt. Vice President, Regulatory and Corporate Affairs, Etisalat Nigeria, Mr. Ibrahim Dikko, had explained that in refinancing the loan, Etisalat was meant to pay certain percentage of the loan with interest on a quarterly basis, and that it has been meeting up with that obligation until a time when it started defaulting, due to devaluation of naira, as well as dollar scarcity, coupled with the economic recession. A source close to Etisalat said the telecom company has paid as much as $500 million (N165 billion), since it commenced payment of the loan in 2014, which is over 50 per cent of the $1.2 billion. “The actual outstanding on the Etisalat loan is about $500 million (N165 billion). This is in view of the fact that Etisalat has efficiently serviced the $1.2 billion loan up until earlier this year when discussions with the banks regarding the repayment restructuring commenced. I can confirm to you in confidence that the company has made repayment of over 50 per cent of the original loan so far”, the source close to Etisalat said. Debt assessment by UK based firm Exotix Capital, a leading frontier and emerging markets investment firm based in the United Kingdom, has said the impact of the medium-term seven-year facility secured by Etisalat Nigeria from the consortium of 13 banks is manageable The firm in a research report entitled, ‘Nigeria Banks’, released last week, said the impact of the $1.2 billion syndicate loan out of which about 42 per cent ($504 million) has been repaid,

was “modest”. “We estimate a modest impact on banks. At a headline level, loans to Etisalat Nigeria represent 1.9 per cent of aggregate bank loans. Likewise on our sensitivity analysis, the Etisalat loans would on average have a -12 per cent, -2 per cent and -0.3bp impact on our FY17 net profit, equity and capital adequacy ratios for the banks, respectively. We believe the banks should easily be able to absorb a shock of this magnitude”, Head of Equities Financials Research, Rahul Shah and Equity Research Analyst, Jumai Mohammed, disclosed. The report ruled out any likely bailout by the Asset Management Corporation of Nigeria (AMCON), citing the current weak financial state of the corporation, but said, however, that the recent Central Bank of Nigeria’s (CBN) directive to the lenders to halt further action on the debt could provide some short term respite. On the possible options which the banks could explore to recover the outstanding sum from Etisalat Nigeria, the report maintained that parties could come to favourable terms for loan restructuring. “However, in the event that these banks aren’t able to restructure the loans at favourable terms with the company, then one of two things will have to happen: The banks swap their loans to equity, recognising the loans as investments. We don’t expect banks to have the capacity to take on such investments or be a willing party to a loss-making underlying asset. The banks restructure the loan, although in the near term they will be required to make provisions on the loan, until they find a buyer. We believe the second scenario is more likely, but the banks could possibly resolve with a new buyer before the end of the year”, the report added. Shareholding structure in Etisalat Etisalat Nigeria is owned by three core investors, made up of two international investors and a local investor. The two international investors are Emirates Telecoms Group Company, Abu Dhabi and Mubadala Development Company, UAE, while the local investor is Emerging Markets Telecommunications Services (EMTS). The shareholding structure in Etisalat Nigeria is such that Mubadala Development Company, UAE, owns 40 per cent shares; Emirates Telecoms Group Company, Abu Dhabi, owns 45 per cent shares; and Emerging Markets Telecommunications Services (EMTS), which is owned by local investors in Nigeria, has 15 per cent shareholding.

T H I S D AY THURSDAY JUNE 29, 2017

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T H I S D AY THURSDAY JUNE 29, 2017

S/N

CUSTOMER

ITEM OF IMPORT

DATE OF FUND PURCHASE

EXCHANGE RATE

USD AMOUNT

EKO SUPREME RESOURCES NIGERIA LTD

HIGH PRESSURE PUMP, MODEL : 6NJ100-20/8, BRAND

19-Jun-17

306.30

20.00

GMT (FRIESLANDCAMPINA WAMCO NIG

EVAPORATED UNSWEETENED FULL CREAM MILK PEAK

19-Jun-17

306.30

57,862.29

MULTIPRO CONSUMER PRODUCT

DIVIDEND REMITTANCE

19-Jun-17

306.30

142,117.71

CBN

UNUTILZED BAL

20-Jun-17

196.00

198,687.60

CBN

UNUTILZED BAL

20-Jun-17

196.00

206,400.00

CBN

UNUTILZED BAL

20-Jun-17

196.00

209,328.00

CBN

UNUTILZED BAL

20-Jun-17

196.00

68,544.48

CBN

UNUTILZED BAL

20-Jun-17

320.00

4,722.16

CBN

UNUTILZED BAL

20-Jun-17

284.00

27,280.93

CROWN FLOUR MILLS LIMITED

GERMAN MILLING WHEAT

21-Jun-17

324.50

37,500.00

CROWN FLOUR MILLS LIMITED

GERMAN MILLING WHEAT

21-Jun-17

324.50

25,000.00

BSV INDUSTRIES LIMITED

CALCIUM CARBONATE

21-Jun-17

324.50

70,560.00

PROMASIDOR NIG LTD

TECHNICAL FEES

21-Jun-17

324.50

50,000.00

FIDSON HEALTHCARE PLC

PHARMACEUTICAL PRODUCTS (ARTHOCARE FORTE CAPLETS)

21-Jun-17

324.50

66,940.00

FIDSON HEALTHCARE PLC

PHARMACEUTICAL PRODUCTS (ARTHOCARE FORTE CAPLETS)

21-Jun-17

324.25

48,816.68

PROMASIDOR NIGERIA LTD

TECHNICAL FEES

21-Jun-17

324.25

150,000.00

CROWN FLOUR MILLS LIMITED

GERMAN MILLING WHEAT

21-Jun-17

324.25

25,000.00

CROWN FLOUR MILLS LIMITED

GERMAN MILLING WHEAT

21-Jun-17

324.25

75,000.00

FIDSON HEALTHCARE PLC

PHARMACEUTICAL PRODUCTS (ARTHOCARE CAPSULES)

21-Jun-17

324.25

61,580.00

IRON PRODUCTS INDUSTRIES LTD.

TRACTORS IN CKD/SEMI TRAILER TRI-AXLE IN CKD

21-Jun-17

324.25

302,103.32

CBN

UNUTILZED BAL

21-Jun-17

323.75

87,500.00

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

3,240.64

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

372.93

FRIESLANDCAMPINA WAMCO NIG PLC

COPPER WIRE 1.24MM

22-Jun-17

306.35

2,502.21

FRIESLANDCAMPINA WAMCO NIG PLC

Disodium/Monosodium Phospathe/CARAMELIZED SUGAR/

22-Jun-17

306.35

798.95

CHEMICAL AND ALLIED PRODUCTS PLC

PIGMENTS (COLOURING MATTER)

22-Jun-17

306.35

2,974.19

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

769.69

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

4,816.30

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

1,932.68

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

4,377.94

VIK INDUSTRIES LIMITED

RAW MATERIALS FOR THE MANUFACTURE OF INJECTION MOULDED PLASTICS - COPOLYMER

22-Jun-17

306.35

583.17

SHIVLILA POLYMERS LIMITED

PLASTIC RAW MATERIAL: POLYVINYL CHLORIDE SUSPENSION

22-Jun-17

306.35

1,920.43

FRIESLANDCAMPINA WAMCO NIG PLC

EVAPORATED UNSWEETENED FULL CREAM MILK PEAK

22-Jun-17

306.35

2,557.76

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

3.71

OK FOODS LIMITED

MILK POWDER (INDUSTRIAL RAW MATERIAL)

22-Jun-17

306.35

71.50

GMT (FRIESLANDCAMPINA WAMCO NIG

PEAK UHT FULL CREAM

22-Jun-17

306.35

120.04

OLAM SANYO FOODS LIMITED

SEASONNING FOR NOODLE FLAVOUR- PEPPER CHICKEN SOUP

22-Jun-17

306.35

136.40

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

332.50 429.34

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

444.27

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

464.64

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

644.66

VIK INDUSTRIES LIMITED

RAW MATERIAL - HDPE BLOW

22-Jun-17

306.35

923.52

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

1,156.42

CORONATION MERCHANT BANK

BANK CHARGE

22-Jun-17

306.35

770.94

DE-UNITED FOODS IND LIMITED

CHILLI POWDER FOR SEASONING

22-Jun-17

306.35

527.04

DE-UNITED FOODS IND LIMITED

CHILLI POWDER FOR SEASONING

22-Jun-17

306.35

245.91

FRIESLANDCAMPINA WAMCO NIG PLC

PEAK BABY 12X400G

22-Jun-17

306.35

239.57

MASSILIA MOTORS LIMITED

20 UNITS NEW MITSUBISHI L200 4x4

22-Jun-17

306.35

1,308.75

FRIESLANDCAMPINA WAMCO NIG PLC

PEAK BABY 12X400G

22-Jun-17

306.35

1,010.80

MASSILIA MOTORS LIMITED

NEW MITSUBISHI PICK UP

22-Jun-17

306.35

15.00

GMT (NEWTECH MASTER BATCH COMPANY

RAW MATERIAL CARBON BLACK N330

22-Jun-17

306.35

158,692.00

CROWN FLOUR MILLS LIMITED

WHEAT GERMAN WHEAT IN BULK(12.5% PROTEIN - 10,000

23-Jun-17

321.50

2,150,000.00

CROWN FLOUR MILLS LIMITED

WHEAT GERMAN WHEAT IN BULK(12.5% PROTEIN - 10,000

23-Jun-17

321.50

1,750,000.00

DANA PHARMACEUTICAL LTD

VARIOUS PACKING MATERIALS FOR PHARMACEUTICAL

23-Jun-17

321.50

18,878.00

FAREAST (MARBLITE NIG. LTD.)

RAW MATERIAL FOR SOAP MANUFACTURING (Tres Chic 52E)

23-Jun-17

321.50

50,912.00

GMT (ACE FOOTWEAR MANUFAC CO LTD)

LOW DENSITY POLYETHYLENE LOTRENE FD0474 AND/OR FD0274

23-Jun-17

321.50

163,625.00

GMT (ASIA PLASTIC INDUSTRIES LTD.)

RAW MATERIAL(ETHYLENE VINYL ACETATE COPOLYMER

23-Jun-17

321.50

144,540.00

GMT (WEST AFRICAN RUBBER PRODUCTS

RAW MATERIAL: LOW DENSITY POLYETHYLENE RESIN

23-Jun-17

321.50

179,520.00

MINL LIMITED

INDUSTRIAL RAW MATERIALS OVERPRINT VARNISH

23-Jun-17

321.50

38,868.00

MINL LIMITED

INDUSTRIAL RAW MATERIALS PVC FREE COMPOUND

23-Jun-17

321.50

129,600.00

MINL LIMITED

INDUSTRIAL RAW MATERIALS DAREX

23-Jun-17

321.50

49,500.00

MINL LIMITED

INDUSTRIAL RAW MATERIALS PVC FREE COMPOUND

23-Jun-17

321.50

64,800.00

MINL LIMITED

INDUSTRIAL RAW MATERIALS TIN FREE STEEL SHEET IN COIL

23-Jun-17

321.50

90,000.00

MINL LIMITED

WEIGHING SCALE, SPARE OF PRINTING MACHINE

23-Jun-17

321.50

1,718.00

PROMASIDOR NIGERIA LIMITED

BULK MULTI-PLY BAGS COWBELL INSTANT MILK POWDER

23-Jun-17

321.50

746,600.40

STARSONIC NIG LTD

POLYPROPYLENE COPOLYMER

23-Jun-17

321.50

168,300.00

SUNRISE PRODUCTS LIMITED

MACHINERY FOR INDUSTRIES(EXTRUSION PROCESS CONTROL

23-Jun-17

321.50

125,200.00

SUNRISE PRODUCTS LIMITED

RAW MATERIAL FOR INDUSTRIES. PVC RESINS

23-Jun-17

321.50

202,400.00

GMT NIGERIA

RAW MATERIAL CARBON BLACK N330

23-Jun-17

306.35

17,573.60

GMT NIGERIA

EVAPORATED UNSWEETENED FULL CREAM MILK PEAK

23-Jun-17

306.35

176,426.40

FCMB

INTERBANK SALES

23-Jun-17

308.00

50,000.00

SUNRISE PRODUCTS LIMITED

MATERIAL FOR INDUSTRY PIGMENT BASE PREPARATION

23-Jun-17

306.35

4,308.00

FRIESLANDCAMPINA WAMCO NIGERIA

EVAPORATED UNSWEETENED FULL CREAM MILK PEAK

23-Jun-17

306.35

343.40

CROWN FLOUR MILLS LIMITED

WHEAT GERMAN WHEAT IN BULK(12.5% PROTEIN - 10,000

23-Jun-17

306.35

785.71

CORONATION MERCHANT BANK

BANK CHARGE

23-Jun-17

306.35

5,605.70

MASSILIA MOTORS LIMITED

NEW MITSUBISHI PICK UP

23-Jun-17

306.35

514.80

S/N

CUSTOMER

DATE OF FUND PURCHASE

EXCHANGE RATE

USD AMOUNT

OTHER SOURCES 1

19-Jun-17

305.80

200,000.00

OTHER SOURCES 2

20-Jun-17

196.00

198,687.60

OTHER SOURCES 3

20-Jun-17

196.00

206,400.00

OTHER SOURCES 4

20-Jun-17

196.00

209,328.00

OTHER SOURCES 5

20-Jun-17

196.00

68,544.48

OTHER SOURCES 6

20-Jun-17

320.00

4,722.16

OTHER SOURCES 7

20-Jun-17

284.00

27,280.93

CBN

21-Jun-17

323.75

250,000.00

CBN

21-Jun-17

323.75

750,000.00

OTHER SOURCES 8

22-Jun-17

305.85

200,000.00

OTHER SOURCES 9

23-Jun-17

305.85

200,000.00

OTHER SOURCES 10

23-Jun-17

307.50

50,000.00

CBN

23-Jun-17

321.00

6,074,461.40

TOTAL AMOUNT

AVERAGE AMOUNT

8,439,424.57 649,186.51

T H I S D AY •THURSDAY, JUNE 29, 2017

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DSO: Fresh Hurdle as Controversy Trails NBC, Pinnacle Deal With the recent controversy over the relationship between the National Broadcasting Commission and Pinnacle Communications Limited, Raheem Akingbolu wonders if Nigeria can achieve the full digitalisation of the broadcast industry anytime soon Nigerians received two positive signals toward achieving switch over from analogue to digital broadcasting (DSO) in their country recently that were well reported in the media. First, while playing host to the Niger’s Minister of Communication, Koubra Abdoulaye, the Minister of Information, Mr. Lai Muhammed dropped the hint that Nigeria would switch over from analogue to digital broadcasting (DSO) in six states across the six geo-political zones within the next one month. A week after, in what looked like official confirmation of the statement, the chief driver of the process and the Director General of the National Broadcasting Commission, Mallam Is’haq Modibbo Kawu, announced at a press briefing in Lagos that Nigeria would adopt phased implementation, which would begin with six states. Kawu moved a bit further to name the six states that have been chosen to include Enugu in the Southeast; Kaduna in the Northwest; Gombe in the Northeast; Kwara in the North Central; Delta in the South-South and Osun in the Southwest. The Director General stated that the commission will remain optimistic; adding by the end of the year, at least half of the country would have access to Free Digital Television content. It was cheering news that gladdened the heart of stakeholders. In a country, where the goal post had been shifted for about four times; 2007, 2012, 2015 and 2017, the new development was seen as a positive one. But few days after, what appeared like a clog surfaced; the unpleasant news about the crisis among major actors at the center of the process hit the street. Specifically, the NBC, and Pinnacle Communications Limited were said to be currently enmeshed in sleazy deals and graft, said to be to the tune of N2.5 billion. According to THISDAY findings from NBC, Pinnacle Communications and other appointed signal distribution companies, the federal government regulatory agency might have jettisoned fairness and global regulatory best practices in its dealings with the stakeholders, which some observers see as an unfortunate development that could further delay and derail the project. Already, Nigeria has missed two deadlines for switch over and these they say are being rationalised by the commission as normal teething problems whereas billions of tax payers’ money are allegedly being used to fund a private company, which by contractual agreement should be paying the federal government. Breach of contract Currently, some of the stakeholders are accusing NBC of giving priority attention to a particular signal distributor at the detriment of others, a situation, they believe, does not augur well for fairness, equity and business competition, thus slowing the pace of development for the digital switchover. According to them, government had licensed three key national signal distributors, Pinnacle, MTS and Integrated Television Services (ITS) to drive digital signal distribution process across the country and to provide easy access of the digital signals to Nigerians. But the stakeholders are worried that some unseen, but powerful hands in government are trying to favour one over the others, for personal reasons. Before the announcement of the six states, Abuja and Jos had first been signed on as a testing ground. At the launch of the Abuja switch over, acting President, Prof. Yemi Osinbajo was said to have expressed satisfaction with the facilities Pinnacle Communications Limited installed. Meanwhile, the acting president was said to have been sold a dummy to believe that Pinnacle did not receive any financial assistance whatsoever from government. But investigation revealed that Pinnacle, a private operator, had actually put up the show on the strength of the money it collected from government through

Kawu

the NBC. Unanswered questions The question many are asking is why was such huge sum of money given to a private company that bided for the project? The issue is generating controversy because part of the pre-requisite for getting the license was the ability of a private firm to mobilise financial resources to carry out the project, but in this case, it is believed that Pinnacle claimed to have the financial wherewithal as at the time of the bid and hence it won against other bidders. Other companies are now wondering why NBC gave out N2.5 billion to the company and curiously, the information was kept away from the public. Some stakeholders are also wondering how to reasonably justify the flagrant abuse of office when a regulator, who is expected to be fair to all the players in the industry, especially, licensed operators who bided and agreed to specific terms, turned around to prop -up one at the expense of the other players, and the Ministry of Information and Culture, under whose watch the sleazy deal is being perpetrated seems to be watching without a word. According to Mr. Toyin Oluwadare, an engineer and content developer, for the NBC to have secretly given out money to one operator and pretended as if nothing had happened is the heights of impunity and corruption. ‘’Up till now the commission has yet to give any explanations for the N2.5 billion given to Pinnacle Communications and stakeholders are begging for answers, particularly for a government who rode to power on the wings of fighting corruption. ‘’Apart from the Abuja switch over which Pinnacle did use the money it got from NBC to executes, the firm is still struggling with the completion of the other sites allocated to it, and as a matter of fact, they are yet to complete the first site,’’ he said. While the NBC is yet to set appropriate rules and conditions with regards to carriage of licensed TV channels on the infrastructure of the signal carriers, such as carriage rates and geographical coverage areas, as well as the thorny issue of conflicts over areas of operation, since all three Broadcast Signal companies have the same license to operate across the country, analysts wonder why NBC allegedly went ahead to curiously pay Pinnacle Communications, a

Muhammed

licensed private operator, the large sum. It is believed in some quarters that the commission’s decision to pay Pinnacle Communications was based on the mistaken belief that since the other operator was given a grant of N1.7b by the previous management, others should also be paid because Pinnacle had during its licensing bid confirmed its financial capability to roll out operations across the country. ‘’It is rather curious now, how such a company is being paid monies that should otherwise be used to finance the DSO roll out, which once again failed to meet the June 17, 2017 deadline,’’ Oluwadare pointed out. However, the first broadcast signal distributor though is supposed to operate as an independent company was specifically established to serve as government owned signal distributor given the strategic importance of broadcasting to national security interests, and the funds allocated to it by the former director general, was government’s share of the financial burden needed as take-off grants for signal distributor; and formed part of the larger DSO budget which was vetted and approved by former president, Goodluck Jonathan. Again, the question has always been how a private company that is a licensee of the NBC is receiving funding from government in the wake of the nation’s persistent failed DSO. As a licensee, it is believed that the operator concerned is supposed to pay NBC license fees and other regulatory charges and certainly not to be paid by government for any reason. In an interview with THISDAY, Mr. Sunday Anyebe of Ryma Communications wondered what justification can warrant the giving of money to a company that competed in a licensing round and still got its initial N2 billion license fee reduced by the former Director General to N600 million for a 15 year license on grounds that the winner would have significant roll out obligations? He said; ‘’Why is this same company receiving 2.5 billion from the government, and in secret? How was the sum of N2.5 billion computed, based on and what were the parameters, and for what purpose? What then happens to the other signal distributor MTS, which ostensibly is owned by the entire licensed private and state owned broadcasters under the auspices of the Broadcasting Organisation of Nigeria (BON), currently chaired by Chief John Momoh? Will they

also be getting N2.5billion? Most importantly, why is the process a top secret even within the NBC management?’’ he asked. Brand promise At the beginning of the process, Pinnacle Communications was said to have made technical and financial undertakings to deploy infrastructure to run DSO and it was upon the basis of those undertakings that it was screened, evaluated and approved to be granted the license as a broadcast signal distributor in the first place! Having being paid N2.5billion by government, many stakeholders believe that Pinnacle has made fraudulent and false undertakings in its license application process and that the licensee has evidently defrauded the Nigerian government and people twice: first getting an unmerited discounted license fee, and now being extended huge amount of money with no justification or merit. As things are, the public is in limbo about the process so far. How many boxes have been switched on? What is the extent of the digital penetration? What are the number of new channels and services now available to viewers? How much is a set top box sold? And if there are consumer complaints, where or to whom are they to be addressed? Is there a DSO Help Line? Again, the NBC’s DG recently announced that the commission had spent a whopping $26m on set top boxes. It was however not able to say how many of these boxes have been activated, where and when. No current estimate on the actual digital penetration even in the cities where the Commission launched its “pilot” DSO project and how many boxes have been sold and activated so far? Are boxes still being imported or now manufactured locally? What is the ratio of foreign and local boxes? For how much are they sold? These and many more questions are currently being asked by stakeholders. As things stand, the payment made to the said company and the undercurrent are seen by some as an opportunity to line their pockets rather than deliver the promise of digital to Nigerians. However, some of the issues may require urgent attention before the commission moves on with the digital migration process.

T H I S D AY •THURSDAY, JUNE 29, 2017

BUSINESSWORLD

PERSPECTIVE

Diaspora Bonds as Mark of Confidence in the Economy Christian Chukwu writes that Nigeria’s first diaspora bond issue in the international capital market has increased investor appetite for the country’s debt instruments In this season of national despondency over economic recession, there is something to make the heart glow. The world is passing a verdict of optimism on the Nigerian economy and its managers. On June 19, Nigeria successfully issued its first diaspora bonds in the International Capital Market to raise the sum of USD300 million at the rate of 5.625% for a tenor of five years. This feat made Nigeria the first African country to issue a bond targeted at retail investors in the United States, a market highly regulated by the United States Securities and Exchange Commission (U.S. SEC). The only previous U.S. SEC registration for an African country was targeted at institutional investors. As impressive as this is, it is not the only good news. The biggergain is that Nigeria received the approval of the US SEC, an achievement that is not possible unless a country has attained the highest level of transparency and accountability in its economic process. It is good news for Nigeria, and this should positively impact the country’s credit rating, transparency rating and financial market development index rating. Also the issuance of bonds registered by the US SEC provides an opportunity to access a wide range of investors. In addition, Nigeria can now routinely access funds from private banks and wealth managers in the US and European markets. This opportunity is not available to other developing countries that have only issued Eurobonds. The diaspora bonds are the first bonds issued by an African sovereign registered with both the US SEC and the United Kingdom Listing Authority (UKLA), and targeted at retail investors. The Debt Management Office, DMO, with Dr. Abraham Nwankwo as Director General, must be satisfied with the successful issuance of the bonds. It followed series of road shows in the US, the UK and Switzerland organised by the DMO. Meetings were also held with investors in these countries to determine pricing. The bonds will be direct general obligations of Nigeria and are denominated in the U.S. dollars. The international Joint Lead Nwankwo

The Diaspora Bonds are an addition to the menu, and one of the most innovative products from the staple of the DMO. Only two countries have successfully issued Diaspora Bonds - Israel and India - and Nigeria has now joined that list. Diaspora Bonds are tangible and effective financing options for countries that have substantial diaspora populations

Managers are Bank of America Merrill Lync and The Standard Bank of South Africa Limited, while the Nigerian Joint Lead Managers are First Bank of Nigeria Limited and United Bank for Africa Plc. Diaspora bonds are issued by a country to its own citizens abroad to tap into their wealth in the adopted developed countries. They are essentially a form of government debts that target members of thenational community abroad. The sale of the bonds can be restrictedsolely to members of a particular nationality or opened to all buyers, with nationals receiving a preferential rate. Nigeria has suffered from deficits in the national budget in recent years. Nearly N2.36 trillion is expected as deficit in the 2017 budget passed two weeks ago by the National Assembly and signed into law by acting President Yemi Osinbajo. The budget deficit is to be financed mainly by borrowings which have been projected at N2.32 trillion. Out of this amount, N1.07 trillion (46% of this borrowing) is intended to be sourced externally while N1.25 trillion will be sourced domestically. The DMO has issued Eurobonds in the international market and had recently launched the first-ever Federal Government Savings Bond targeting retail investors in the country. Both have been quite successful, indicating investors’ confidence in the Nigeria economy. The Diaspora Bonds are an addition to the menu, and one of the mostinnovative products from the staple of the DMO. Only two countriehave successfully issued Diaspora Bonds - Israel and India - and Nigeria has now

joined that list. Diaspora Bonds are tangible and effective financing options for countries that have substantial diaspora populations. Nigeria is among the countries with significant diaspora populations and huge remittances from abroad. There are over 17 million Nigerians living abroad, and most of them reside in the US and the UK. According to the World Bank’s Migration and Remittances Fact book 2016, remittances from Nigerians living abroad hit $20.77 billion in 2015, making Nigeria the sixth largest recipient of remittances in the world. The report says remittances to Nigeria rose every year over the last decade, from $16.93 billion in 2006 to $20.83 billion in 2014. And in 2016, remittances by Nigerians abroad were over $35 billion. This was the highest in Africa and the third largest in the world. The top two sources for Nigeria’s diaspora remittances in 2015 are the United States ($5.7 billion) and the United Kingdom ($3.7 billion). The Diaspora Bonds have opened a new source of financing for the Federal Government of Nigeria for funding projects for the development of the country. President Muhammadu Buhari’s administration is currently working on delivering several capital projects. Out of a total expenditure outlay of N7.44 trillion in the 2017 budget, N2.36 trillion is for capital projects. The budget has been designed to focus on five key execution priorities. These are stabilizing the macroeconomic environment; achieving agricultural and food security; ensuring energy sufficiency in power and

petroleum products; improving transport infrastructure, and driving industrialization with a strong focus on small and medium scale enterprises. This new window of diaspora bonds further enhances the funding liquidity and flexibility of the Nigerian economy, which are necessary characteristics as the country gathers momentum towards the attainment of advanced economy status. The Diaspora Bonds were targeted principally at the Nigerian Diaspora to provide them with an opportunity to contribute to the national development. The Bonds were structured as a retail instrument to appeal to a wide base of investors, and it was offered through private banks and wealth managers, rather than the institutional investors that normally deal in large volume transactions. There was a considerable interest from investors from all over the world, with the issuance attracting initial orders of about 190% of the offered amount. Final subscriptions were about 130% of offer at the final price for the transaction. With the successful issuance of the debut Diaspora Bonds, Nigeria will establish a programme for raising funds from Nigerians in the Diaspora to provide an avenue for continuous participation in the development of the economy by Nigerians in the Diaspora and other friends of Nigeria. This is good news for Diaspora Nigerians and for Nigerian people as a whole. - Chukwu wrote in from Abuja

T H I S D AY • THURSDAY, JUNE 29, 2017

BUSINESSWORLD

DEVELOPMENT

Mirchandani: Nigeria Can Grow to Replace All Imports with Locally Manufactured Goods Sona Agro Allied Foods Limited, a leading biscuit manufacturing company and subsidiary arm of Sona Group of Industries has commenced exportation of its premium biscuits to Ghana and other West African countries, with over 90 per cent of its raw materials sourced locally. At the recent inauguration of its export order by Ogun State Governor Ibikunle Amosun at its headquarters in Sango Ota, the Chairman of the company, Mr. Arjan Mirchandani spoke to select journalists on various issues. Abimbola Akosile captures his views

hat is the significance of the recent inauguration of Sona Agro Allied Foods export order? We want to manufacture using local materials. This is also to support the Nigerian farmers. We believe they are the future of this country. We also believe that apart from farmers, Nigerians themselves can decide their future. It is not the business of any foreigner to come and decide the future for Nigerians. Foreigners could bring investments, technology and all the talents to make sure goods produced here are comparable to those from Europe and the United States of America, so that at the end of the day one can take the products to other markets not only within Africa but also abroad. It is necessary for us to look at these opportunities. This is one of the reasons we have for starting this journey based on the use of local raw materials and based on encouraging ourselves towards export. We have started with just two containers for export, which in our eyes, are equal to 200 containers because when one has faith and takes a step at a time, one will reach one’s goal. But it must begin with one step. I am a believer in nature and in God. I believe that everything is possible, but we need determination and commitment. Of course, hard work and commitment are involved in whatever we do. Nigeria has an opportunity to grow and to replace all imports with locally manufactured goods and save foreign exchange. We cannot rely only on oil money. I am encouraged and I believe this is just the beginning. How will you describe the potential in the biscuit sector and others in the Nigerian market? We feel very confident. We have been here for some time and we have learnt how to survive. We have learnt to survive in the good times when there is a lot of money and also in the bad times when money is scarce. Hence, we learn new things on a daily basis. Also, Nigeria is a great country; the people are very nice and absolutely hard working. And as long as we are united, we can work together and make this country prosper. You are heavily involved in the Nigerian business environment; what are the things that drive you as a businessman? It is God. We are all guided by God. Every step we have taken has been guided by God. We have the faith that you can achieve anything you set out to do through God’s help. It is also our belief that you don’t ask your country what your country will do for you. You ask yourself what you can do for your country. We make sure that we do our part. We belong to the country and it is important that we play our part. Many companies are now downsizing and not producing at their installed capacity; how would you describe your own approach to this crisis? People are downsizing. Maybe, they are unable to get their acts together. Of course, the banks are more difficult because their interest rates are between 20 to 30 per cent. With an interest rate of that nature, no business can survive. In India and other countries, interest rates are two or three per cent or four per cent maximum. In Switzerland, you will get money at one per cent rate. When you have cheap money, you are more encouraged to invest more. We are still expanding. I don’t believe that there is reason to downsize and deny Nigerian workers of their livelihood. There is nothing wrong with Nigerian workers, they are very good.

locally and they are charged only 5 per cent duties. For instance, some people are importing sorghum when we have enough sorghum in the country. We need to make policies to support local companies. What are the investment plans and projections for some of your subsidiaries, especially Sona Agro Allied Foods? At Sona Agro Allied Foods, we’ll like to see 100 per cent capacity utilisation. In the next 15 months, we are hoping to grow by 200 per cent. We feel that import reduction and government’s policies are helping to grow the industries and so automatically, employment will grow and the ordinary Nigerian will be proud that he is contributing to the growth of the economy. We have thousands of vibrant Nigerians in our work force and they are doing well.

Mirchandani Nigerians are my brothers and sisters and I will say very boldly that I will do whatever it takes to keep our staff. In our companies, we have a very good system and certification from the International Organisation for Standardisation. We have complied with all the regulations from the Standards Organisation of Nigeria (SON), National Agency for Food and Drug Administration and Control (NAFDAC) and other government agencies. We are a responsible company and we are encouraged despite the situation which makes us to be bringing in newer technologies. We are working with the Bank of Industry and the International Institute of Tropical Agriculture (IITA) to achieve this. We are grateful to some of these government agencies because they encourage growth in investments. If the cost of funds is not made cheaper more industries will die in Nigeria. I don’t believe that should mortgage the future of the country. We should encourage local industries that source raw material locally. Nigeria got

Rwanda Tips In just 100 days in 1994, some 800,000 members of the minority Tutsi community were reportedly slaughtered in Rwanda by ethnic Hutu extremists, who comprised 85 per cent of the country’s population. According to reports, neighbours killed neighbours while some husbands even killed their Tutsi wives, saying they would be killed if they refused. Now 23 years later, Rwanda’s ruling party, Rwandan Patriot Front (RPF), recently elected the country’s incumbent President, Paul Kagame as its presidential candidate for the elections scheduled to hold in August, for the third time since the end of the ex-genocidal

her independence in 1960, but we are not free until we are free by being self-sufficient. We need to start immediately. In what ways can the Federal Government of Nigeria encourage investment-friendly individuals like you? We want the Federal Government to make cheaper loans available for the industries. We also believe that government officials should visit industries more often and encourage them, especially during moments of difficulties. It is the duty of every one of us to join hands together to grow Nigeria. That is why we think the Federal Government needs to directly engage manufacturers on what their problems are. We have written so many letters but we don’t get response from the government and this is very unfortunate. At Sona Group of Companies, we are producing with 100 per cent local raw materials, yet the Federal Government allows people to import commodities that can be sourced

What efforts are being made to ensure proper branding of some of your products to make them more reputable in the market? Great products are made of great quality. If you don’t do quality but you have great packaging, you won’t sell. The customer must get value for his money. Our belief is that people must get value for their money. That is important for us and we have obligation to our customers. We are also not relenting in our efforts to promote the products by building awareness. In this current period of recession, consumers are buying less because of the rising prices of commodities thereby forcing companies to lower production. In your case, however, you are increasing production. What are you doing differently from the others? We are not doing anything extraordinary. I am not a magician. I will say God is guiding us to go on the right direction. But one thing I know is that, when you produce quality goods, you don’t have to show off. Consumers themselves will determine what the market of the products should be. If I give you my products and you enjoy using them, then I think you will become my customer. If you buy a product and you are not able to use it, will you buy it a second time? Answer is no! NOTE: Interested readers should continue in the online edition on www.thisdaylive.com

RANDOM THOTS regime in 1994. Kagame was the sole candidate in a unanimous vote conducted by RPF Congress in Kigali, capital of Rwanda. He gained 1929 congress members’ votes out of 1930, after one vote was declared invalid. A recent special report monitored by this reporter on the African country, which is now an investors’ destination, revealed that the constitution of the country was amended by parliament to allow Kagame contest for a third term, which may see him stay in office for more than another ten years. The lessons from this tiny booming country are many, among them the fact that ethnicity has been subsumed in

favour of economic prosperity, and enmity has taken a back seat while good leadership holds sway; all combining to make Rwanda an economic giant in Africa. If only those agitating for war and separation in Nigeria would take the positives from Rwanda and instead seek the best leadership in unity, this nation would be rescued from the grip of poverty and economic recession. Sustained good governance and committed leadership has liberated Rwanda; Nigeria can do the same, if she wants to truly become the giant of Africa...worthy goal -Abimbola Akosile

T H I S D AY • THURSDAY, JUNE 29, 2017

BUSINESSWORLD

DEvELOpmENT/ISSUESINBOx

Nigerian women, united in purpose

How Can Nigeria Achieve True Federalism? Amid various allegations of marginalisation from different ethnic groups and geographical zones and widespread inequalities in income, social and educational levels, there have been calls for restructuring of Nigeria and establishment of true federalism across the country, to ensure that each zone or ethnic group has a true sense of belonging to the federal structure, and an accompanying slice of the national cake. To you, how can this true federalism be achieved in Nigeria? What is the best tip to do this? Abimbola Akosile * True federalism...fiscal federalism...are the new buzz words these days. Every country has a right to fashion out a system of governance that suits its peculiarities, as long as the focus is to deliver good governance to the people. Therefore, from the USA to Switzerland to Germany to Nigeria, some countries that operate federalism, there will be similarities, as well as peculiarities. So it is in order, if Nigeria decides to fine tune our system of governance....to deliver more positive outcomes to the people, to reduce the cost of governance, and bring accountability to governance e.t.c. However, our problem is leadership. There is a huge gap between what the led want and what the leaders want and do. Until that gap is bridged and some congruence is achieved, we will keep going back and forth ...with no positive outcome on the issue. - Mr. Biodun Aiyegbusi, Engineer, Lagos State * Let’s have a confederacy with regions contributing to the centre. Nigeria’s political challenge is in the quality of its leadership not the system of governance. The same folks advocating for this true federalism are largely the same folks who have ruined Nigeria. Let’s build a nation where institutions are larger than individuals first. - Mr. Utibe Uko, Uyo, Akwa Ibom State * True federalism is possible by unconditional unity entrenched in unblemished patriotism. Our elders and elites have become too avaricious and selfish that they do anything to bleed Nigeria of her commonwealth. They employ hate speeches, separation, secession, war mongering e.t.c in the media to intimidate citizens. It is time to retrace our steps and practice true federalism now for good. - Mr. Apeji Onesi. Lagos State * Talking about true federalism, why don’t we critically look at the various recommendations of the 2014 National Conference - rather than waste money organising another? I think those recommendations should be subjected to referenda so Nigerians will have their say. The Senate has set the ball rolling, which could serve to eventually fashioning a true people’s constitution. - Mr. E. Iheanyi Chukwudi, B.A.R., Apo, Abuja * True federalism is from the hearts of broth-

THE FEEDBACK Top tip:

Through good leadership

Second:

Transparent governance

Third:

United in patriotism

Radical tip:

Adopt confederacy!

Total no of respondents:

Male:

Female:

Highest location:

Lagos (5)

ers to be together, harness and develop their God-given mineral resources including gold, agriculture, columbine, tin and ore, ginger etc., which abound. When we return to harness these and stop being dependent on oil, unity will prevail. This type of unity springs from the hearts of those who love one another; not dependent on the federal government allocation for money to pay salaries, pension, roads, health, education building contract, etc. - Mr. Dogo Stephen, Kaduna State * True federalism as people are agitating is not Nigeria’s problem but to have good leaders that know their onion in good governance Nigeria will move forward. Even if we go for true federalism some groups will still complain that they are not benefitting from true federalism agenda. As we approach 2019 election, we should elect leaders that will solve Nigeria’s problems; then issue of true federalism will die naturally. - Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State * True federalism is best achieved by mutually genuine unity. Laws must be honestly implemented. Moral training must be communal, start from infancy and home, devoid of religious bigotry. Those big fires in Australia started small and degenerated into deflagrating tongues. Yugoslavia, Syria and even Libya all started as mere jokes but turned into anguish and nightmare. A second civil war will leave

Nigeria a shadow of herself. Agitators and their collaborators must be brought to book now for a true federalism. - Miss Apeji Patience Eneyeme, Badagry, Lagos State * Well, true federalism can be achieved when Nigerians and our leaders begin to reflect on how her independence came to be, and the birth of democracy. Politicians should look beyond party lines e.g. APGA should give appointments to PDP. The same should be applicable to all political parties. By doing so, the issue of marginalisation will stop and true federalism will take place. One love keeps us together. God bless Nigeria. - Mr. Bitrus Waziri, Durumi, Abuja * True federalism can be achieved if we all forget self and see Nigeria as greater than any individual. This is a serious issue as all over the country people are promoting their selfish desires to cause enmity instead of unity. To achieve true federalism, there should be love for humanity, freedom of religion and personal worship, and Nigerians should be free to mingle with one another. - Hon. Babale Maiungwa, U/Romi, Kaduna * True federalism involves the freedom of every citizen to settle anywhere in the country, to have a sense of belonging, to own land or property at such a location and to be able to access the resources accruing to those living in that particular place. It also entails ability of each citizen to freely mingle or inter-marry with others without any fear of discrimination. In the present day Nigeria that seems pretty difficult. We need a national referendum to decide if we want to be together. - Mr. Olumuyiwa Olorunsomo, Lagos State * Nigerians have to know and understand their various cultural, climatic condition, plus in terms of academic qualifications, inequalities in income, social life style, environmental advantage, nature of life, score card of beliefs, norms and value system, understand the issues of important that affect their environment, sense of reasons and focus, religions and comparative advantage. An adaptive research, field survey, oral interviews with some academic research that will find out types of behaviour and geographical location, interest, soil and

economic activities, educational qualifications, trade and commercial activities, agricultural practices ability to work, being industrious and different practices etc. The research needs to be validated with stakeholder’s workshop and report writing from the findings. Also, different ethnic groups and each geographical zones needs to be represented, to ensure that each zone or ethnic group has a true sense of belonging to the federal structure, accompanied by a slice of the national cake. - Mr. Michael Adedotun Oke, Founder Michael Adedotun Oke Foundation, Abuja * My question is; will true federalism work? There is already division amongst the regions. Northerners, Southerners, Easterners and Westerners all want different things. How can the centre hold in such a scenario? - Mrs. Casa Eze, Lagos State

Next Week: Your Best Restructuring Tip for Nigeria? After a former military ruler and an ex-vicepresident called for restructuring of Nigeria, among other recent calls from personalities and analysts, restructuring of the country appears imminent. Although each analyst and advocate has different suggestions for their calls based on various reasons including location, religion and even availability of natural resources, what is your best suggestion concerning the peaceful restructuring of Nigeria into mutually beneficial and unified structures? please make your response direct, short and simple, and state your full name, title, organisation, and location. Responses should be sent between today (June 29 & monday, July 3) to abimbolayi@yahoo.com, greatbimbo@gmail.com, AND abimbola. akosile@thisdaylive.com. Respondents can also send a short text message to 08023117639 and/or 08188361766 and/ or 08114495306. Collated responses will be published on Thursday, July 6

T H I S D AY • THURSDAY, JUNE 29, 2017

BUSINESSWORLD

DEVELOPMENT

Role reversal in a contracting economy

ABIMBOLA AKOSILE

LackofFunding,ProsecutionIdentifiedasBottleneckstoAnti-trafficking Policy James Emejo in Abuja Inadequate government funding and lack of political will have been identified as critical factors currently hindering the fight against Trafficking in Persons (TIP) in the country as well as in other Economic Community of West African States (ECOWAS) member countries, according to a recent report. Specifically, the ECOWAS Annual Synthesis Report on Trafficking in Persons in West Africa (April 2017 Version), stated that in Nigeria, funding constituted the single biggest challenge in combating trafficking both at policy and operational levels and expressed

concern over rising internal trafficking. It added that the biggest challenge in investigation, prosecution and trial of trafficking cases was the lack of cooperation from victims. The document, obtained by THISDAY showed that out of the total of 570 cases reported in the country during the review period, 203 cases were investigated with 147 prosecutions and 23 convictions. It put the number of repatriated foreign nationals from the country at 37 comprising 32 Beninoise, three Ivorians, and two Togolese while on the other hand, 181 Nigerians were repatriated from other member

countries. In total, within all the member States, 1,432 cases were reported; 765 investigated with 470 prosecutions and 123 convictions. According to the report, which was put together by the ECOWAS Commission Anti Trafficking Unit in collaboration with the International Centre for Migration Policy Development (ICMPD), in securing trafficking convictions, member states faced obstacles, particularly interference by family members, authorities or other influential personalities, and corruption. The report further identified Nigeria as one of the trafficking networks alongside China, Lebanon, Liberia and Guinea

among others. Research Officer, Anti Trafficking Programme, International Centre for Migration Policy Development (ICMPD), Claire Healy also said the ECOWAS plan of Action against Trafficking in Persons in West Africa, 2017 – 2022, the fifth regional trafficking plan of action had been finalised and was awaiting adoption. Nevertheless, she added that a lot was being done by countries particularly Nigeria, which has anti trafficking agencies like NAPTIP and was currently working hard to have the right legislations and policies to combat trafficking. Nigeria was particularly commended for adopting a

National Plan of Action on trafficking in persons in 2015 as well as National Policy on Protection and Assistance to trafficked persons, which was adopted in 2008. She said there were still gaps in terms of forms of trafficking that were newly being identified in the country. Claire told THISDAY: “There is a real focus on West Africans being trafficked to the Middle East and the gulf states and North Africa and are being exploited there either as house helps and also being exploited in prostitution - And I think it’s something that a lot of ECOWAS states want to respond to... “

She said most people were currently being trafficked within the country compared to the hitherto practice of trafficking across the borders. She added that emphasis was also on child trafficking and sexual exploitation. The report identified Benue, Akwa-Ibom, and Delta States as the main origins for internal trafficking while Lagos, Abuja, Kano, Sokoto and Oyo states were described as popular destinations of the trafficked persons. The report had been collated over the years and it brings together all data and information on human trafficking in all the 15-member ECOWAS states.

ITF Collaborates with NECA, Trains 3,000 Youths on Entrepreneurship Dialogue on Made in Nigeria products holds in Uyo Seriki Adinoyi in Jos As part of measures to reduce unemployment in the country, 3,000 Nigerian youths are undergoing training under the Technical Skills Development Project (TSDP) implemented by the Industrial Training Fund (ITF) in collaboration with the Nigerian Employers’ Consultative Association (NECA). Director-General of the ITF, Sir Joseph Ari, who disclosed this in a statement signed by the head of Publicity of the Fund, Suleyol Fred Chagu, added that the TSDP was one of the initiatives embarked upon by the two organisations to drive President Mohammadu Buhari’s efforts at industrialisation and job creation; as well as reduce

unemployment, promote sustainable wealth creation and instill youths with entrepreneurial and attitudinal skills through technical skills acquisition. He added that during the year-long programme, the participants, drawn from across the country, would be trained in 18 trades and crafts including electrical/electronic maintenance, mechanical machinery and maintenance, welding fabrication works, plumbing and pipe fittings maintenance, beverage bottle operating, information and communication technology. The DG listed others as building construction, carpentry and joinery, agriculture, and agro-allied, animal husbandry, aqua culture and breeding/rearing hatchery, livestock and aqua culture

feeds and fashion design and tailoring. Ari named the 18 participating organisations as PAN Learning Centre Limited, Nigerdocks Nigeria Plc, Nigerian Breweries Plc, Nigerian Bottling Company, Truck Masters Nigeria Limited, Lafarge Cement (WAPCO) Plc, Kamjay Farms, Ibeju-Lekki, Chi Limited, Ruff ’n Tumble and Style House. Other centres include the ISTC, Ikeja, ISTC, Kano; ISTC, Lokoja; ITF Centre for Excellence, Jos; FSTC, Lasa; FSTC, Awka; Government Technical College, Sokoto and Benin Technical College, Benin. Ari said it was the expectation of the ITF and NECA that the participating organisations would equip the trainees with competitive cutting edge skills

for them to be immediately employed as was the case in earlier phases of the programme, stressing that it was the Fund’s firm belief that by equipping Nigerians with technical and vocational skills the rising unemployment and other policies of the Federal Government be achieved. He added that the project was one of the several programmes that have been launched by the ITF in 2017. ITF had, earlier in the year, launched the National Industrial Skills Development Programme (NISDP) and Women Skills Empowerment Programme (WOSEP), which are targeted at equipping Nigerians with skills for employability and entrepreneurship. Meanwhile, the CSO Coalition for Made in Nigeria

Products (CONMAP) and Federal Ministry of Science and Technology (FMST), have announced the date for the Dialogue and Sensitisation Seminar with stakeholders on the promotion of Made in Nigeria products. The event is scheduled to hold on Thursday, June 29 and Friday, June 30 at Edinan Hotel, Ikot Akpan Abia, Aka Etinam Road by Police Headquarters, Uyo, Akwa Ibom State. In an e-mail sent to over 100 participants the National Coordinator, CONMAP, Mohammed B. Attah, noted that events would kick off by 9.30 a.m. daily. The two-day dialogue which is part of the Federal Government’s Economic Recovery and Growth Plan is expected to

feature several components including discussion, exhibition and road-show among others. The event will also showcase a training session on Google Digital Skill Development, to be provided free and certificates issued to participants. About 100 Non-State Actors (NSAs) from different organisations, representatives of the private sector from across the country, and the Ministerial staff of the FMST and other Ministries, Departments and Agencies (MDAs) are expected to be in attendance. The event which is being facilitated by NGO Network is a follow up to the April 2017 National Expo organised by the Federal Ministry of Science and Technology, and held at Eagle Square Abuja.

T H I S D AY • THURSDAY, JUNE 29, 2017

BUSINESSWORLD

DEVELOPMENT QUOTE OF THE WEEK

“ThetalktohavethecountryrestructuredmeansthatNigerians are agreed on our unityindiversity;butthatweshouldstrengthenourstructures to make the union morefunctionalbasedonourcomparativeadvantages,Thatwe have notfullyrealised our potentialasagreatnationisnotenoughreasonfor us to wantto demolish the foundationofour nationhoodorrubbishthelabours of our heroes past” - FORMER MILITARY PRESIDENT, GEN. IBRAHIM BADAMASI BABANGIDA (RTD.) IN HIS MESSAGE TO MARK THE HOLY MONTH OF RAMADAN IPC Seeks Citizens’ Participation in Budget Planning, Processing Oluwafunke Lasisi

UNICEF: Food Insecurity Threatens Children in Yemen, S’Sudan, Nigeria and Somalia Abimbola Akosile The United Nations Children’s Fund (UNICEF) has called for immediate humanitarian action amid rising malnutrition, thirst and disease, and warned that millions of lives are at risk in four countries stretching from Africa to the Middle East. The agency said the recent welcome announcement of an end to famine conditions in South Sudan should not distract from the severe food insecurity that continues to put the lives of millions of children at risk in north-east Nigeria, Somalia, South Sudan and Yemen. “The crisis is far from over and we must continue to scale up our response and insist on unconditional humanitarian access, otherwise the progress made could be rapidly undone,” said UNICEF Director for Emergency Programmes, Manuel Fontaine, in a press statement. “There is no room for complacency,” he continued. “While famine has been reversed in South Sudan, the lives of millions of children are still hanging by a thread.” In North-east Nigeria, Boko Haram violence continues to contribute to large-scale population displacement, limit market activity and restrict normal livelihoods. Around 5.2 million people remain severely food insecure, with 450,000 children expected to suffer from severe acute malnutrition this year. With deteriorating road conditions and flooding making populations harder to reach, the rainy season will further complicate the humanitarian response and raise the risk of water-borne diseases. The fragile Somali population, battered by conflict, is facing further exposure to prolonged drought. An estimated 275,000 children will suffer from severe acute malnutrition in 2017, making them nine times more likely to die of diseases such as cholera, acute watery diarrhoea and measles, which are spreading through the country. After a scaled-up humanitarian response, famine in South Sudan has eased, according to new analysis released last week.

Children shouldn’t go hungry for any reason However, the situation remains dire across a country where some six million people struggle to find enough food each day – the highest level of food insecurity ever experienced there. This year, an estimated 276,000 South Sudanese children will be severely malnourished. In Yemen, an estimated 400,000 children are severely malnourished as an unprecedented cholera outbreak – with over 175,000 suspected cases and more than 1,000 deaths to date –has complicated the ongoing humanitarian response. Some of the children who have become ill or died from cholera were already suffering from malnutrition, which had weakened their immune systems. Moreover, Yemen’s healthcare system is on the brink of collapse, with hospitals and

www.vegan.hr treatment centres struggling to cope amid dwindling medicines and medical supplies. As the conflict continues, famine is a possible worst-case scenario. Beyond these four countries, food, water and health crises are endangering hundreds of thousands of children across the Greater Horn of Africa, the Lake Chad Basin and the Sahel. This year, UNICEF is working with partners to provide therapeutic and life-saving food treatment to severely malnourished children in Nigeria (314,000), South Sudan (200,000), Somalia (200,000) and Yemen (320,000). UNICEF is also restoring and equipping health facilities, developing medical and nutritional supply pipelines and providing clean and safe water to vulnerable children and families.

The International Press Centre (IPC) has tasked government at all levels in the country on the need for citizens to participate in budget planning and processing as a means of promoting transparency to enhance social welfare among other needs for a better living of the masses and the society at large. This call was disclosed at a one-day forum ‘Open Budget’ organised by the Centre under the programme ‘Strengthening Citizens Engagement in Electoral Process’ (SCEEP) with the support of ActionAid Nigeria and UKAID through the Department of International Development (DfID) titled ‘Advancing Citizens Participation in the Budget Implementation Process of Lagos State’ recently held in Lagos. Speaking at the recent programme, the Civil Society Network Against Corruption (CSNAC), Lanre Suraju said it was the right of every citizen to participate in the budget planning process to recover the achievement expected and contribute to the development of his/her community. He explained that for budget processing and planning to have good effect on the society, it must go through preparation, implementation, appropriation, consideration, conception, approval, monitoring and evaluation which should involve citizens’ participation and contribution where government would ensure the needs of the people are provided. He included that participation without transparency risks being ineffective if demands and debates around budgets are based on limited information, affirming that the roles of citizens are to monitor policies and programmes; engage government; advocate for inclusion and effective administration; and exercise sovereignty and constitutionalism. Suraju stressed that citizens holding government responsible or accountable was not the best option but that they also participate in the budget planning process, ensure confrontation of demand, and monitor the project done as promised. e noted that the opportunity cost of projects is the priority of good governance where every citizen should understand their roles in contributing to budget processing and planning. Also, an official of the Women Advocate, Research and Documentation Centre (WARDC), Mrs. Kuti Folake called on the government to start the practice of gender budgeting by including it in every year’s budget, and explained further that gender budgeting allows the involvement of proper women welfare. She said poverty wears a woman’s face because their major responsibility on earth is of carrying pregnancy among others important roles, saying women needs should be more than men as their situations are different even while they are recognised as the same citizens. “Gender budgeting have impact on every citizens which will promote equality and realisation of women’s right”, Folake added. She mentioned that gender budgeting is already being practiced in some countries such as India, Australia, Switzerland, City of Berlin, Rwanda, Uganda, South Africa and Tanzania, which have bridged the lines of inequality in the societies, and therefore WARDC was advocating for gender budgeting in Nigeria.

T H I S D AY THURSDAY, JUNE 29, 2017

HEALTH & LIFESTYLE

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

Curbing Drug Abuse in Nigeria While some Nigerians continue to crave for mind altering substances like cocaine, marijuana and codeine as tools for escapism, the risks associated with the practice are deadly. As Nigeria joined the rest of the world to mark this year’s International Day Against Drug Abuse, CADAM and other stakeholders warn that the problem of drug abuse presents a clear and present danger in the country. Martins Ifijeh writes

rom afar, Ayo Adegoke-Craig looked like every other successful man. The type you will regard as one of Nigeria’s elite even though he is without a pot belly. His shinny skin is obviously devoid of sun burn. When you hear him speak, you could tell he has travelled round the world. Everything seemed right for the 66 yearold-man, that is, until he tells you how much drug addiction has reduced his profile and hard earned reputation to nothing. He is a professor who has lost his job, family and respect because of drugs. During his hey days, Adegoke-Craig was the brightest among his peers; a ‘gift’ that earned him several accolades even in the academic world, both in Nigeria and in the United Kingdom where he studied, until he became a Professor of English and Semantics. But he lost all goodwill, his job and family immediately drugs started eating deep into him. “It got to a point in my life I couldn’t think of any other way to feel good rather than taking marijuana, cocaine and other types of deadly substances. I started keeping a bizarre relationship with my loved ones. I couldn’t keep up with my academic profession. And then I was relieved of my job,” Adegoke-Craig said. “Initially when I started taking it, I felt it was helping me in writing and studying. It was much later I discovered it wasn’t the reason, I was naturally a good writer. My family ran away because I couldn’t have discussions with them without the influence of hard drugs. At a time I had to leave the UK, came to Nigeria to stay,” he added. Hard drugs didn’t only cost Adegoke-Craig his career and family. It also reduced him to a laughing stock; the type that could be regarded as a very poor primary school drop-out. “I had to leave the UK so I could find a solution to the kind of life I had put myself. I came to Nigeria a pauper, a ‘bachelor’ and a totally reduced man. I consciously started drug use, but it became a torn in my flesh afterwards. Leaving it wasn’t so easy. “It was at this point I started looking for help, because I was fast losing my pride. Food became my worst enemy, I lost a lot of weight, and I could wear one shirt for days because I only had one interest, which was to satisfy my body. “I have learn’t one thing in life now; hard drugs can reduce a professor to the level of a mechanic who is also on drugs. It does not discriminate, it will reduce you to its level until you become a scum to the society,” Adegoke-Craig said. The professor, whose quest for solutions took him to three different countries, said he first went to Asia where they told him with acupuncture he would be fine and free from the addiction, but the more he takesthe treatment, the more he was getting the urge to take drugs. “I then had to continue my research until I discovered there was a therapy in Bolivia. Like someone who was dedicated to lead a normal life, I embarked on another journey to Bolivia where I was told the coca leafs would be used for the treatment that can help me out of addiction. “After the treatment, I didn’t just continue the life, I even bought cocaine in large quantity in that country, which I brought back along with me to Nigeria. I went to Bolivia to get help, but I left there with bags of cocaine. “I was becoming more miserable by the day. That was how I bumped into a report by a certain Harvard University professor who said drug abuse was a strong power and that only a higher power could cure it. That was when I knew all I needed was a rehabilitation centre with a touch of God in it. I have undergone the rehabilitation and am free from drugs,” Adegoke-Craig said.

Dr. Adedeji (4th from left) with other participants at the walk

Prof. Adegoke-Craig

While he is free from drugs now, the UK-trained professor lost everything along with it. But he is lucky he could come out of it, and hopes other drug addicts in the country, especially youths learn from his experience and run from the practice. “All I want to do now is dedicate my life to raising awareness on the dangers of drug use, its addiction consequence, among others,” the professor said. Adegoke-Craig is just one among Nigerians who are lucky to come out of drug addiction alive, even though he still lost many things, including his job. Records show about 40 per cent of Nigerian youths are involved in one form of drug abuse or the other; a practice stakeholders say fuel various vices, including armed robbery, killing, kidnapping, raping, among others. Recently, it has been observed that the many Nigerian youths have moved from the conventional drug use known to average Nigerians like cocaine or marijuana, into bizarre and ridiculous ones like early morning inhalation of smell from latrines, inhalation of methylated spirit and even fuel. They believed these inhalations makes them feel good. It is in tackling these seemingly unnoticed virus in the society that Christ Against Drug Abuse Ministry (CADAM) staged a walk to raise alarm over the increased patronage of drugs and other mind altering substances, as well as create awareness on the dangers associated with both the known drug use methods and the ridiculously bizarre ones. No wonder the National Chairman, CADAM, Dr. Dokun Adedeji says he feels broken in his heart for youths indulging in such dream-killing practices, noting that many crimes like kidnapping and killing have been committed because of

quest for ecstasy. He said while intake of alcohol, cocaine, marijuana and cigarette were commonly known by Nigerian parents and the society, it was becoming more difficult to monitor wards and youths in the society because of the unconventional drug use. “Majority of our youths now use tramadol, codeine, rohypnol, skunk, and certain substances which are somewhat difficult for the average parent to categorise as drugs. Most of our prescription drugs are now easy for youths and other persons involved in the trade to purchase. “But what is more worrisome now is that our youths have moved from the bizarre to the ridiculous. You find some of our youths packing dirts from the gutter and sniffing it, believing it would make them ‘high’. Some will wake up in the morning, go to latrines and put their noses down to sniff the smell from it until they feel they are ‘high’ on it. You know the gum shoe-makers use, some of our youths now take them. Others inhale methylated spirits, nail polish remover, among others.” He said these were scary and ridiculous practices that must make well-meaning Nigerians, and the society in general rise up against it, adding that the practice was gaining notoriety among many youths in the country. But how can parents and caregivers know when their children are on drugs since the practice has moved from the known marijuana, cocaine or cigarettes, to the bizarre-but-difficult-to-notice methods? Adedeji provides a guide. He says when you notice your child is drinking a particular soft drink for long, there is need to monitor him or her to know if there is an external substance in such drink. “Imaging a child sniffing methylated spirit in the house, it will be difficult for the parents to know their child is on drugs. I know of a mother who was observant enough to know that her methylated spirit always disappeared anytime she buys. She had to monitor her son until she discovered he was the one taking it. So parents need to be very observant, otherwise children under our very nose will be on drugs, yet we won’t know. “Have you heard about ‘gegemu’? It’s a plant planted at home to drive away snakes. But do you know in one of the schools we went to, some of the guys told us they pluck the leaves and cook them, then drink the water. They also dry the leaf, grind and sniff it. “In the North there is something called “zakani”. It is a seed they grind and sniff. There is a category of youths that kill scorpion, dry it,

grind and then sniff it. We are saying these so that parents and the society can know what to look out for,” he added. He said these vices lead to broken marriages, abrupt school termination, cultism, aborted dreams and even madness, adding that persons involved in the practice often do not grow to achieve their potentials. A cleric in charge of Redeemed Christian Church of God, Lagos Province 60, Pastor Ephraim Osunde who doubles as a member of board of trustee for CADAM, said it was unfortunate that most of the people in rehabilitation centres were from well-to-do homes and have been making waves in their different fields, but end up having mental issues as a result of drug consumption. The Human Resources Director, Cadbury, Mr. Topeka Philips who also took active part in the campaign exercise, said it was very important that drug abuse was kicked out of Nigeria to secure a future for the youths. As a mother lending her voice to the campaign, the General Manager Eko FM, Mrs. Ayo Shotonwa, frowns at the silence over increased drug use. “It is not only when people use cocaine or marijuana that we should talk about drug abuse. Our youths have devised other methods, and this must be checked,” she added. On her part, a Superintendent of Narcotics, National Drug Law Enforcement Agency (NDLEA), Mrs. Maitanmi Funmilayo , said the damages done by drugs were enormous, adding that it causes physical, psychological and economic consequences. “Physical consequence could be deformity of the body. There are more than 500 chemical components in cannabis. The most powerful one is tetrahydrocannabinol (THC) which is a very active chemical that within 14 seconds travel to the brain tissue where it can do a lot of harm. It can lead to madness. “Drug use has caused many people to indulge in vices like armed robbery, killing, kidnapping, and raping. It is difficult for anyone to kill without being under the influence of drugs or alcohol. “It’s so unfortunate that our ladies are today into drug consumption. Most of them will want to get drugs of their choice but will not be able to afford it. As a result they dive into crime and prostitution and at the end of the day they get infected with HIV/AIDS. “So we are calling on Nigerians to join hands so that we can collectively fight drug abuse in the country,” she said.

T H I S D AY THURSDAY, JUNE 29 , 2017

NEWS

Pneumonia, Diarrhea Kill 400 Children Yearly, Says PACFAH Martins Ifijeh The Partnership for Advocacy In Child and Family Health, PACFAH, has stated that about 400 Nigerian children die every year in the country due to pneumonia and diarrhea diseases. Stating this during an advocacy visit to Emzor Pharmaceutical Limited in Lagos, the Lagos State Chairman of the coalition, Mr. Henry Adenigba, said he was saddened by the high rate of children dying from the preventable diseases, adding that out of 100 death recorded among children, 19 lives are lost due to pneumonia or diarrhea. He said government has not given deserved attention to the two preventable diseases, which he notes kill more than HIV/AIDS, and others, which

government was giving higher priority. “Research has shown that among child deaths in the country, pneumonia takes 14 per cent, while diarrhea takes nine per cent, making them the second and the third single killers of children under five years in Nigeria. HIV kills three per cent.” He also noted that the present health budget for Lagos State was grossly inadequate to take care of the myriads of health challenges, adding that the State House of Assembly ought to reject the budget. “Lagos State has 10 per cent pneumonia and nine per cent diarrhea mortality rate among under five years; Lagos State is the third pneumonia and diarrhoea disease-burdened South-Western State In the country. For every 100 Child deaths in Lagos State, pneu-

monia and diarrhoea jointly account for 19 per cent of those deaths. “Lagos State health sector allocation was reduced from N65 billion (9.8 per cent) in 2016 to N51 billion (six per cent) in 2017; despite increase in the total state budget from N663 billion (2016) to N813 billion (2017). From 2011 till

date, the Lagos State House of Assembly has never increased the proposed health sector budget. It’s either they pass the budget as proposed by the governor or they reduce it,” he said. To reduce the mortality rate of children, PACFAH advocated for collaboration with Emzor for circulation

of good quality and affordable health products, most especially Amoxicillin DT and Zinc-LO-ORS to battle pneumonia and diarrhoea. On her part, the Chief Executive Officer, Emzor Pharmaceutical Limited, Stella Chinyelu Okoli, who was represented by Mrs. Uzoma Ezeoke, assured PACFAH of

its coalition, adding that it would support with enough quality health products. Although, she lamented that the inflation of dollar to naira exchange rate has affected their importation of health materials, Okoli, nevertheless said that it has in no way affected the quality of its products negatively.

Safe Motherhood is Attainable in Nigeria, Says Expert Emmanuel Ugwu, Umuahia Despite Nigeria’s high maternal mortality ratio of 608 deaths per 100,000 live births, the nation could still join the league of countries where safe motherhood has become the norm, a Professor of Obstetrics and Gynaecology, Christian Aluka has said. Aluka gave the message of hope when he delivered the 32nd Inaugural Lecture of the Abia State University, Uturu (ABSU), entitled ‘I Shall Deliver Like the Hebrew Women: Cultural, Political and Religious Challenges to Safe Motherhood in Nigeria’. “To achieve safe motherhood in our country and significantly reduce maternal mortality ratio, our health services should be adequate, accessible, affordable and user-friendly,” he asserted Aluka, who is the Provost, College of Medicine and Health Sciences, ABSU, used comparative analysis of the trends in maternal mortality from 1990 to 2015 in Nigeria and in developed nations like the United Kingdom and the Netherlands to show how possible it is to achieve safe motherhood. He noted that while the cited developed nations had achieved enviable reduction in maternal mortality ratio through sustained policies aimed at improving the healthcare system, Nigeria has continued to bear heavy burden of high maternal mortality even among developing nations. Aluka advised that Nigeria should borrow a leaf from developed nations and put in place sustained policy frame work of a well organised healthcare system whereby all levels of healthcare delivery system – primary, secondary and tertiary- would be well funded, equipped and staffed with well trained health professionals. To achieve the set target he recommended community mobilisation to be part of health policies of government so that “women, their families and their communities are carried along in planning and provision of their healthcare” and also

encouraged to adopt modern health practices. He said that everything should be done to achieve safe motherhood in Nigeria as the desire of every couple and every family is “to hear the voice of the mother and the cry of a bouncing baby” after a cycle of pregnancy. Aluka explained that women play a very important role in the continued survival of human race hence they should not be allowed to die in the course of giving birth. He said: “When a woman dies, children (orphans) lose their primary caregiver, a widower is created, the family is thrown into sorrow and the community is deprived of her service. Any social and economic investment that has been made in her life is lost. A woman’s death is more than a personal tragedy.” Aluka made a radical proposal in the fight against maternal mortality, saying that the war cannot be won in the cities and tertiary health institutions where the general take cover and issue orders but rather in the rural areas where the enemy is operating. “If rural women cannot come to the city, the healthcare providers should go to them,” he said, adding that the care of obstetric patients in each local government should be assigned to a named health team headed by a specialist/ consultant obstetrician.” According to him, the health team would work in liaison with other stakeholders in the health project which include community and local government teams made up of community, political, religious and traditional leaders. ‘‘This proposal will bring antenatal care closer to the rural women and increase the number of deliveries under skilled supervision (and) reduce the number of unbooked patients (unregistered pregnant women) presenting late with labour complications. It will significantly reduce maternal and prenatal mortality in our state,” Aluka said.

L-R: Medical Director, Lagoon Hospitals, Apapa, Dr. Mowa Falase; Chief Executive Officer, Lagoon Hospitals, Mr. Rajeev Bhandari; Medical Director, Lagoon Hospital, Ikeja, Dr. Jide Ojo; and Group Human Resources Manager, Lagoon Hospitals, Mrs. Mojisola Olubummo, during the presentation of the Private Healthcare Provider Award to Lagoon Hospital by the Nigerian Healthcare Excellence Award in Lagos recently

U.S. Awards Micro-Grants to FG: 200,000 Community Health Support Children Orphaned Workers Will Replace Medical by HIV/AIDS Doctors in PHCs Martins Ifijeh The United States Diplomatic Mission to Nigeria has announced a N2.9 million microgrant to 50 women caregivers to support the economic well-being of their families, particularly the vulnerable children orphaned by HIV/ AIDS in five local communities in Apapa Local Government Area of Lagos. Under the U.S. Ambassador’s PEPFAR Small Grants Programme, a local non-governmental organisation, Blissful Life for Women and Children, will provide training to the beneficiaries of the micro-grants in the areas of business and vocational skills and trade mentorship, and will receive trade articles and supplies. Ten older orphans and vulnerable children whose parents are living with HIV will also benefit from the training. Blissful Life for Women and Children is one of 27 local organisations that have received funding under the U.S. Ambassador’s PEPFAR Small Grants Programme in fiscal year 2017. At an event held in Lagos and attended by senior local government officials, health, and community leaders, Act-

ing U.S. Consul General, Will Steuer said, “The people and government of the United States continue to stand shoulder to shoulder with Nigeria and Nigerian families in the fight against the HIV/ AIDS epidemic. “Today’s event highlights the importance of supporting families, especially children who are affected by HIV/ AIDS through programmes that not only support treatment for the infected, but also to improve the socio-economic well-being of families affected by the HIV/AIDS epidemic, as the PEPFAR Small Grants Programme seeks to do.” Beneficiaries of the various training programmes are expected to empower themselves and their families by building small businesses that will create more reliable income flows and improve their standard of living. The U.S.-Nigeria partnership on HIV/AIDS began in 2004 through the U.S. President’s Emergency Plan for AIDS Relief (PEPFAR). From 2004 to 2016, United States support for HIV prevention, care, treatment, and support programmes in Nigeria has totaled more than 4.3 billion U.S. dollars in support of the Nigeria HIV/AIDS response.

Kuni Tyessi in Abuja The federal government has disclosed plans of engaging 200,000 community health extension workers as replacement to medical doctors operating in Primary Health Care (PHC) centres nationwide. The Executive Director of the National Primary Health Care Development Centre (NPHCDA), Dr. Faisal Shuaib made this known in Abuja, during an inaugural quarterly media interaction organised in collaboration with Community Health Research Initiative (CHR). According to him, community health extension workers and nurses were most appropriate to attend to minor health cases, leaving doctors to attend to complicated issues at the secondary and tertiary health levels. “In actual fact, we do not need doctors in primary healthcare facilities. We need community health extension workers, we need midwives, we need nurses in our primary healthcare facilities.The doctors are expected to work in the secondary and tertiary facilities. “There are 25,000 community health extension workers across the country but we

are scaling up to have 200,000 community health workers. “We need people living closest to the communities to work in the primary healthcare facilities where they are well known, where they are trusted and that is why we need to strengthen the PHC facilities so that community health extension workers, community health officers will manage the basic cases like malaria,” he said. Shuaib explained that the community health extension workers would be responsible women with at least an elementary school education with the ability to provide simple cure, carefully selected by the community members, community chiefs, opinion leaders, civil society organisations within the community. He further noted that the traditional birth attendants who form part of the 25,000 community health workers, would be granted additional training to expand their scope. According to him, this was to eliminate situations where unskilled workers take deliveries, and to ensure that all deliveries are carried out in healthcare facilities where if there is a complication, it would be immediately addressed before it gets too late.

T H I S D AY THURSDAY, JUNE 29, 2017

HEALTH

Worries over Vaccine, Immunisation Gaps Odimegwu Onwumere writes that meningitis and other vaccine-avertable diseases have become somewhat a recurring decimal in Nigeria and in some countries of sub-Saharan Africa that include Senegal, Niger, Chad, Benin, Mali, Burkina Faso which make up ‘Meningitis Belt’ due to poor innovative approach to delivery of vaccines By April 17, 2017, Nigeria lost about 800 lives and had 8,000 cases of Cerebro Spinal Meningitis (CSM), in six states of Katsina, Kebbi, Zamfara, Niger, Sokoto and Yobe due to embarrassing vaccine approach, informed the News Agency of Nigeria (NAN). Since 1996, there are data showing that meningitis and other vaccine-avertable diseases have killed thousands of people in Nigeria and by extension, in some sub-Saharan African countries of Senegal, Niger, Chad, Benin, Mali, Burkina Faso which make up ‘Meningitis Belt’ due to poor delivery of vaccines. Checks reveal that no fewer than 11,000 people were killed by meningitis alone in Nigeria in 1996 and by 2009, 600 people died. Like a recurring decimal, this dangerous disease that science says is “caused by viral or bacterial infection, and marked by intense headache and fever, sensitivity to light, and muscular rigidity and most affected age group is 5-14 years of age” impinged on approximately 10,000 people in 2015, and exterminated over 1,000 people in Nigeria. The world is embarrassed by the outdated vaccine delivery systems in the country, because Nigeria prefers to buy vaccines from the international market instead of set up vaccines manufacturing plants for local consummations. The highlight of this is that records show that Nigeria only delivered (1.3m vaccine doses for a country that has a population of over 180m people) during the recent impasse. These vaccines, according to media reports, about 800,000 doses were mostly ordered from United Kingdom. Yet, according to Dr. Seth Berkley, CEO of Gavi, the Vaccine Alliance, “Too

many children still lack access to lifesaving vaccines because of outdated and inefficient supply chains.” Dr. Berkley was of the belief that, “There is need to drive change and deliver comprehensive improvements now, countries won’t have the systems in place to protect the next generation of children, particularly the most vulnerable.” The Nigerian Medical Association (NMA) was caught up in vaccines and immunisation ruckuses in July 2013. The then President of the association, Dr. Osahon Enabulele frowned that the federal government failed to curtail the sprinting of hepatitis in the country due to its over dependence on foreign delivery of vaccines. At the occasion of the 2013 World Hepatitis Day, Enabulele said, “Hepatitis virus A, B, C, D and E were accountable for the millions of death in the country, because they caused sensitive and unremitting infections and inflammation of the liver, the government did not bellyache.” If the country had been vaccines conscious, these deaths could not have occurred. In the light of this, the World Health Organisation (WHO) in one of its reports, held, “Vaccines prevent an estimated two to three million deaths every year, but an additional 1.5 million deaths could be avoided if global immunisation coverage improves.” The international body supposed that in 2015, an estimated 19.4 million infants worldwide did not receive routine immunisations. What that suggests is that Nigeria, which includes the countries of the world, is awful in the way she sees to vaccines and how they are handled. The hullabaloo is that this oil rich

With vaccination, many preventable diseases can be curbed in Nigeria

country prefers to order vaccines from the Americas and Europe during outbreaks, whereas in the advanced world, such methodology of delivery of vaccines has been regarded as outdated and compromising that put the lives of people in danger. The argument is that health and immunisation are not regarded with the attention they needed in Nigeria. According to news, “President Muhammadu Buhari submitted a budget of eight billion naira for the funding of routine immunisation and polio eradication. But the budget that came back from the National Assembly was cut by about 50 per cent. There is need for the legislature to understand the intricacies of immunisation financing and support fulfillment of the government of Nigeria’s commitment to sustainable immunisation at all levels.” Dr. Aminu Magashi-Garba, Lead Project Director, Routine Immunisation Sector of the Partnership for Advocacy in Child and Family, who is also

Coordinator of the Africa Health Budget Network was befuddled in the above commentary on April 22, 2016 in Lagos, when he succinctly declared that the budgetary allocation for routine immunisation including eradication of poliomyelitis was slashed by the National Assembly during its review and passage of the 2016 budget. This could have formed the view by Dr. Matshidiso Moeti, the WHO regional director for Africa. Dr. Moeti said, “We must act to close the global immunisation gap. Achieving the Global Vaccine Action Plan goal of universal access to immunisation by 2020 would benefit the health of millions of Africans.” This is given that pundits have said that the best ways to save lives of children, condense cost of healthcare and give the children the prospect to live up to their aptitude is through immunisation. But according to MagashiGarba, the cut in the budget meant, “We are going to have shortage of vaccine procurement this year and early next year if

enough funds are not available for the vaccines to be procured completely. This also poses a problem because the funding was tied to two international commitments and it will also create a serious challenge in the sector in ensuring that all eligible children are immunised.” In the advanced world, the innovative approaches are being put in place to help augment vaccine ease-of-use and publicity. But Nigeria is still gasping for the air on where to source for vaccines during emergencies. Hear Dr. Robin Nandy, principal advisor and chief of immunisation at UNICEF, “Expanding the use of freeze alarms and rigorous temperature monitoring is critical to ensuring that all children have access to potent, lifesaving vaccines. In the longterm, we must work toward the development of products that can better withstand temperature variations.” However, the WHO has been concerned that 1.5 million children that include Nigerians who are yet to receive lifesaving

vaccines they need, do not have access. Hence, April each year is mapped out by the international body to create this attention. But on May 25, 2017, at an award ceremony on health innovation given to Alma Sana, a non-governmental organisation (NGO) at the Transcorp Hilton Hotel, Abuja, the NGO introduced a bracelet that was launched by Glaxosmithkline. The bracelet was said to be worn on the leg or wrist of infants to remind mothers the type of vaccines they have given their children and the time they need new vaccines. While speaking at the rite, wife of the Senate President and founder of Wellbeing Foundation Africa, Toyin Saraki, believed, “We need to work towards adapting a vaccine dependable Nigeria. One of the problems faced with vaccinations is most mothers forget to take their children for immunisation and this bracelet is supposed to help tackle that issue since the bracelet will be on the child from first vaccination till the age of one.” While the bracelet is believed to “deal with the problem of timeliness, completion of vaccine doses and that of wider coverage to know the extent immunisation has been covered in a locality.” According to Dr. Jean Marie Okwo-Bele, director of WHO Department of Immunisation, Vaccines, and Biologicals, in commenting on a study, “For too many countries, it is nearly impossible to collect and harness data to forecast vaccine requirements and deliver vaccines when and where they’re needed. But there are innovations such as electronic data systems that are being piloted and scaled up in developing countries that could and should be more widely adopted.”

260 Children Test Positive for Serah, Who Stools Through a Bag, Needs N10m to Treat HIV in Niger Colorectal Cancer Martins Ifijeh Laleye Dipo in Minna Not less than 260 children between the 0- 14 age bracket are HIV positive in Niger state just as about 12% of these kids have no access to antiretroviral drugs. Mrs Mary Jalingo Niger state chairperson of the Society for the Elimination of HIV stated this in Minna on Monday at the inaugural meeting of the coalition of Civil Society Organisations for the fight against the spread of HIV/ AIDS. Mrs Jalingo also said that the number of facilities providing the prevention of mother to child HIV in the state was very low adding that Nigeria had the highest number of mother to child transmission of HIV in the world. “ The number of facilities providing prevention of

mother to child transmission of HIV in the state is also low, there is also the need to encourage women to come forward to prevent their babies from being born with HIV “This is what this coalition is all about, to provide advocacy and sensitise women on the prevalence of HIV”. Zonal Coordinator of SEHAC Dr. Ismailia Garba in a remark said many children had died at very tender ages because they were born with the HIV virus adding that if there was enough sensitisation the infected mothers would have known how to protect their unborn babies from the virus. Ismail Garba said that there was need for more hands to be on deck if Nigeria would attain its 90-90 targets for the elimination the disease.

A 25 years old wannabe teacher, Serah Osabuohien, whose intestine has been redirected from the anus into a handy bag, is urgently in need of N10 million naira to treat colorectal cancer if she must live to fulfill her dream. She was diagnosed in the Lagos University Teaching Hospital (LUTH), Idi-Araba earlier in the year to be suffering from colorectal cancer, and was told she still has the chance of living a normal life if the required amount is available for chemotherapy and radiotherapy. According to her, “the doctor told me when the test result came out, that I still have about 60 to 70 per cent chances of survival as the cancer cells were still localised. But he warned that I must start chemotherapy as soon as possible.

Serah; before and now

“I was told the N10m will cover for six chemotherapy sessions, radiotherapy for 30 days and surgery to put back my intestine, so that I can defecate the normal way.” Sarah, who ran around to raise the money, could only get N330,000 through Niola Cancer Foundation, and between which

her health started deteriorating. “I immediately started the chemotherapy because I was advised to start as soon as possible, while continuously looking for the funds to complete my treatment. I have done two sessions now, and I can see the difference. Few months ago I stopped walking, I was getting

emaciated and felt dizzy often. But since the two sessions now, I have regained my strength back.” But Sarah has exhausted the N330,000 on the two sessions. She is left with nothing to do another session which is billed for Thursday (today). She urgently needs kind hearted Nigerians to assist her in completing her remaining four sessions, 30 days radiotherapy and a surgery. “Doctors say if I delay my sessions, I may relapse, while the cancer continue to spread until it is unable to be tackled. Right now I have been told I have all the chances to survive, but I don’t have the finance to continue my sessions. I don’t want to miss my sessions,” she added. For assistance, Serah can be reached on 08134685268. Account details are, name: Serah Osabuohein, account number: 2039564498, bank: UBA.

T H I S D AY THURSDAY, JUNE 29, 2017

NEWS FG Not Doing Enough to Stop FGM, Says NGO Kuni Tyessi in Abuja The federal government has been called upon to as a matter of urgency, increase its campaign against Female Genital Mutilation (FGM) and set a baseline target for the number of girls that will be cut by the year 2030. This is even as Preston Development Foundation, a non-governmental organisation has accused the government of not doing enough to stop the harmful practice. The Programme Officer for the NGO, Ms. Zikar Elendu, who spoke with journalists at the Federal Ministry of Health headquarters in Abuja, said the time to end the menace, which has continued to gain grounds is now, judging from the sad fact that the practice is fast becoming medicalised as research has shown that many have formed the habit of taking the girl-child to the hospital for a cut. She said, “We are not protesting, but creating an aggressive awareness of FGM. We are in 2017 and we are supposed to be implementing the Sustainable Development Goals and girls should not be cut at this time. “Research has shown that people are now medicalising FGM and have started taking it to hospitals. We want the government to set a baseline

target for the number of girls that will not be cut by the year 2030. We want it to be reduced drastically in Nigeria. “We have data from organisations and not necessary from the federal government. In Nigeria, we suffer a dearth of data and if you go on the net, there is a deficit and that is why we want the government to set a target and so that we can have more data and know what it is like to end FGM in Nigeria.” In the face of culture and FGM, Elendu said “we do not condemn the people but we condemn the practice. Even when we bring the message to them, we don’t go in battle because it deals with behaviour change communication so as to let them know that it has no health benefit .” In the same vein, the Knowledge Management Officer, Dr. Nwando Onuigbo Chatta, said the health implications of FGM does more harm with zero percentage of data recorded so far. She said, “The health implication includes infection. The idea is that the female genital is cut. In the case of child birth in a serious case of FGM, the whole area is tightened and the woman experiences difficulty in giving birth and then there’s chances of infection, pain, ovarian cyst, VVF and in extreme cases, there’s death.”

Cardiologist Raises Alarm over Increased High BP among Nigerian Youths Martins Ifijeh A Consultant Cardiologist and the Chief Medical Director of Lagos Executive Cardiovascular Clinic, Dr. Folasade Olaitan Alli, has raised the alarm over increased death rate among Nigerian youths due to heartrelated problems, saying it calls for serious concern. She said while many Nigerians do not check their blood pressure to know their numbers, the attitude was more common among youths, leading to increased number of the age group being hypertensive. According to her, “we have many Nigerians coming down with heart-related diseases, and the number one cause on the list is hypertension. High blood pressure is now on the increase, in fact it has gotten to an epidemic level whereby people drop dead easily because they don’t check their blood pressure. Some, when they are told their blood pressure is high, they will say ‘I reject it,’ even

younger Nigerians.” She said it was a great concern to know that younger Nigerians between the age range of 28 to 30 were the most affected as a result of lifestyle. “Unfortunately, there have been instances of young Nigerians dying with heart-related diseases, and number one cause on the list is the silent killer, hypertension. High blood pressure is not only on the increase, but has also gotten to an epidemic level. In my earlier years of practice, it (hypertension) was mostly an issue of the mature and old folks, starting from 40, but today, this epidemic has shifted backward by, at least, a decade. Several younger Nigerians are dying of the same problem. The first issue with the younger generation is the false and unwise belief that they are young, and thus, do not need to regularly check themselves; then the second issue is the fact that they are not taking preventive measures

and, of course, the lack of public information on what these measures plays a major role. When told their blood pressure is high, some reply ‘I reject it’, but guess what? It is indeed high – there is nothing to reject because it is happening. The bottom line is that, this attitude needs to change”. While explaining the relationship between hypertension and lifestyle, she said, “The type of food and drink we take, high fatty food items, junks, chocolates, foods with high calorie intake, among others can negatively affect the blood pressure of a person. “The blood vessels are very pliable but when you have bad fat that have settled on the wall of the vessels it becomes thick, then hardens up. So when the heart pumps, it is pumping against a high resistance; so all these contribute to blood pressure rising,” she explained. However, she pointed that hypertension could also be

hereditary. “Where hypertension runs in family, hereditary comes to play in addition to lifestyle. But we now have cases whereby there is no family history and people develop it,” she added. She advised that people should imbibe the culture of going for medical check ups and be up to date as absence of symptoms does not mean there was no problem or that one was okay. “Hypertension is heavily age-related, therefore; any individual from age 28 should make sure he/she check his/her blood pressure regularly. “Check your health once in a year by doing a comprehensive general health assessment during which some abnormality in your body can be detected and corrected without complications. The person can even be having a hole in the heart. Yes, there are some holes in the heart that are discovered at 28. Some are also detected in the womb.

Experts Converge in Lagos to Tackle Infectious Diseases Martins Ifijeh As part of efforts to curb the rising incidents of infectious diseases in Nigeria, a team of epidemiologists from the United State of America, and their Nigerian counterparts will be converging in Lagos to chat a way forward against diseases. This is coming on the heels of more reported cases of Lassa fever in Ondo and Anambra States last week. The international conference is being organised by the Global Infectious Diseases Initiative Incorporated, a non-governmental organisation, based in the U.S. According to the Convener of the conference in Nigeria, Dr. Folarin Olubowale, who is a Diplomat of the American Board of Internal Medicine and Infectious diseases, the conference would unite the world’s premier infectious diseases providers in the world to combat epidemics from a variety of angles, including social, economic, health and policy formulation. At a press conference to announce the conference billed to hold 7th of July, 2017, a Public Health Physician, National Orthopaedic Hospital, Igbobi, Lagos, Dr. Udoka Chira, said the rate at which seasonal diseases such as meningitis and Lassa fever were becoming frequent, there was need to find a lasting solution to it. According to her, “the essence of the conference is to learn more about infectious

diseases, we will talk about various epidemics that has happened in the country, their control and preventive strategies and how we can improve on them. “We will also try to find out why seasonal infectious are now becoming an epidemiology. We want to know what went wrong, best strategies to adopt on its prevention and control, as well as find out about new ways of treating various diseases,” she explained. Speaking, Managing Director, Complete Advantage, Mrs. Ime Udo said the event which is the 10th in series, apart from the 500 participants expected will be graced by renowned infectious disease experts including Dr. Regis Nadin, a Haitan- American Emergency medicine physician, Dr Yoav Golan from Tufts Medical Centre among others. She said in collaboration with the College of Medicine, University of Lagos, a 2.5 Continuity Medical Education, CME, will be awarded to attendees. On the impact of the conference on Nigerians, Udo who said it was the first in Africa explained that the conference organisers are also coming with funding for scholarship for medical students and doctors. She disclosed plans by the initiators to establish an infectious centre in Nigeria as well. Udo urged interested participants to register through its website,www.infectionsdiseasesinitiatives.org.

L-R: Nollywood Veteran Actress, Lilian Amah-Aluko; Founder, Niola Cancer Care Foundation, Eniola Salu Akintunde; and a health advocate, Dr Taiwo Johnson, during Akintunde’s birthday celebrations with cancer patients in Lagos University Teaching Hospital, Idi-araba ...recently

Lagoon Hospital Wins 2017 Four Radiology Students Private Healthcare Provider Champion Campaign against Award Cancer Martins Ifijeh Lagoon Hospitals, one of Nigeria’s leading healthcare facilities, wins the 2017 Private Healthcare Provider Awards in the just concluded Nigerian Healthcare Excellence Award (NHEA) for its focus on quality and clinical excellence in healthcare. NHEA is an annual event which celebrates distinguished personalities and organisations who have contributed immensely to the growth of the Nigerian health sector in the year under review. The award won by Lagoon Hospitals, and contended for by seven other top class hospitals, was determined by an independent jury team, votes from the e-voting platform, and the final decision of the Advisory Committee of NHEA. The Chief Executive Officer

of the hospital, Mr. Rajeev Bhandari, said, “we are delighted to have received such a renowned industry award. Our vision has always been for Lagoon Hospitals to become the most respected healthcare service provider in Nigeria. This award symbolises that that vision is being achieved. For us, there is no limit we will go to ensure Nigerians receive the highest quality care they deserve, hence stemming the high medical tourism from Nigeria to other countries. The award is also a testimonial of our commitment towards providing quality healthcare services and clinical excellence in Nigeria.” Bhandari also talked about the exciting future ahead for Lagoon Hospitals, adding that the upgrading of its medical facilities was to meet the increasing demand for quality healthcare in Nigeria.

As part of drive to reduce the burden of cancer in Nigeria, four radiology students of the College of Medicine, University of Lagos have commenced awareness campaigns on how to prevent cancer, as well as the risks associated with the deadly disease. The final year students, Olusegun Marvelous, Oke Bayode Thomas, Ogunbela Ridwanz and Aribatise Stephen, who noted the idea to run the campaign was borne out of their daily encounter with patients of the radiotherapy/ oncology clinic in the Lagos University Teaching Hospital, Idi-araba, said with awareness by Nigerians, the incidence of the scourge will reduce. They said they discussed the idea with the Nigerian Association of Radiology Students who bought into the idea, which they now call The Invasion. “We recently mobilised 200

students to create awareness at Adeniran Ogunsanya Mall and Leisure Mall where we educated the public about various ways to detect, diagnose and manage cancer. We also used the opportunity to announce our profession, Radiography,” the group said. According to them, the campaign was sponsored by ArriveAlive Diagnostic services, ER magazine, Radiography UNILAG Alumni, Victory Drugs and Run for cure Africa. The four health advocates said they would be embarking on another round of campaign June 30th at the Maryland Mall in Lagos, where they will bring the message of prevention, early detection, diagnosis and treatment to Nigerians. They are therefore calling on stakeholders and well-meaning Nigerians to be part of the June 30th campaign through active participation and sponsorship.

T H I S D AY • THURSDAY, JUNE 29, 2017

BUSINESS/MONEYGUIDE

Banks Don’t Require Licences for Agency Banking, Says CBN Nume Ekeghe The Central Bank of Nigeria (CBN) has said that banks do not need licences to operate agency banking. This was made known by CBN Head, Financial Inclusion, Temitope Akin-Fadeyi, at the second edition of the Ciuci Consulting’s Nigeria Retail Banking Workshop, which had discussions on catalysing SME funding and retail lending to Nigeria’s economic development. Akin-Fadeyi clarified that retail banks only needed approval from CBN to perform

agency banking. She added that, super agents, on the other hand, go through stringent measures to obtain agency banking licence, showing how regulation supports retail banks in their push for financial inclusion. The workshop was an opportunity for bank executives to discuss their challenges with agency banking, especially its difficult licensing process. The CBN, at the workshop, also shared some exciting news- the creation of a joint technical task force with NCC. The objective of the joint task force, according to Akin-Fadeyi,

is to deepen mobile financial services in Nigeria leveraging Telcos and Retail Banking Collaboration. “Issues such as SIM swap, connectivity and network coverage, are now jointly being tackled by the banking sector for increased gains to the industry,” she said. Other speakers at the workshop were GM, EFInA, Linda Quaynor; Director, Consumer Banking, UBA, Feyi Ogoji; Group Head, Retail, and SME Banking, Unity Bank, Funwa Akinmade; Divisional CEO, InterswitchNG, Akeem Lawal; and Managing Partner, Ciuci Consulting, Chukwuka Monye.

Sterling Bank Promotes 457 Staff Sterling Bank Plc has announced the appointment of Temi Dalley, as its Chief Human Resource Officer, just as the bank announced the promotion of 457 employees across all cadre to the next grade level. It explained in a statement that the promotion became effective June 1, 2017. The new appointment and promotions were announced by the Managing Director and Chief Executive Officer, Sterling Bank, Yemi Adeola. He said: “This appointment will give depth to our human resource function while the all-inclusive promotion will boost employee productivity and morale ensuring that we serve and delight our esteemed customers across the country.” Adeola added that the promotions made across all directorates were the outcome

of the bank’s full year 2016 performance review. “This all-inclusive employee promotion exercise reinforces our time-honored culture of recognising talented and engaged employees within the organisation in order to boost their productivity and morale.” To further entrench this culture, the bank’s new Chief Human Resource Officer, Dalley, is expected to provide strategic leadership to Sterling Bank’s human resource function ensuring accountability across directorates. She will also ensure that talent acquisition and retention, compensation, welfare benefits, training and development, as well as succession planning practices are strengthened within the bank. Temi, an experienced human resources professional, began

her career as Team Lead at the Royal Bank of Scotland in 2001, after which she moved to Abbey Bank United Kingdom in 2004 where she worked as a Human Resource Consultant until 2007. She went on to hold various human resources positions in EDF Energy Plc, NHS Southend and Katchey Company Ltd between 2010 and 2012. In 2013, she became Group Head, HR Services at First City Monument Bank (FCMB) Plc where she was responsible for the implementation of all HR practices, processes and policies. Temi Dalley, who joined Sterling Bank from FCMB, brings on board about 15 years of leadership experience in banking, health care, consulting and energy services from leading corporations in the United Kingdom and Nigeria.

Access Bank Rewards Loyal Customers in Promo The first set of winners in the Access Bank Family Fortune promo emerged yesterday. In all, 60 customers of the bank emerged as winners in the weekly draws held in Lagos ahead of the monthly draws and the mega selection. Speaking at the draw in Lagos, Access Bank Executive Director, Business Banking, Titi Oshuntoki, stressed the need for families to come together to imbibe savings culture and collectively achieve family goals. According to her, the bank’s ‘Family Fortune’ promo is the first of its kind in the country. She said the bank values the unity of family and hope to further promote it through the promo which targets helping families achieve a common savings goal. She said the saving scheme

was designed to encourage families to save together and enjoy exclusive privileges (Interest rates and family rewards), while they continue to enjoy the confidentiality of their banking relation and manage their accounts as unique individuals. On his part, Group Head, Business Banking, Access Bank, Adeyemi Odusanya, said the prosperity of the family is linked to that of any country saying, “the family is the foundation if the country. When love is shared in the family we will have a better country. “This promo is meant to keep the family together with a common goal by imbibing in every family a savings culture that will in the end lead to a better country.” Of the 60 customers, 50 won movie tickets for their families.

Five others won GOTV full bouquet and another five won data bundles for their families. The monthly selection which will see families win home furniture, television sets, LG home theatre, DSTV, family shopping spree and mobile phones is expected to hold every month from July 3, 2017. Families who also participating in the draw are also eligible to win family homes, cars, vacations, scholarship and power generators in the mega selection which will hold in December this year. Families can qualify for the promo by opening any of our savings account products and bringing on board at least three other family members to make a minimum family size of four and grow their target savings to a minimum goal of N150,000.

Ecobank Partners Lagos on Green Environment Initiative Ecobank Nigeria Limited said it initiated the planting of 500 coconut tree seedlings on Victoria Island, Lagos, as part of the State’s greener, healthier and sustainable environment campaign targeted at planting at least 10 million trees by the year 2020 within the state. The Lagos state government had in 2008 commenced tree planting campaign programme statewide; this being the cheapest means to mitigate the negative effects of excess greenhouse gases from the atmosphere thereby alleviating the impact of climate change within

the environment. A statement yesterday explained that the Ecobank campaign which stretched through the Ahmadu Bello Way on Victoria Island terminated at the Bar Beach / Eko Atlantic City end of the road. The Managing Director of the Bank, Charles Kie, who led the bank’s team, started the exercise by planting the first coconut tree demonstrating the symbolic kick off of the tree planting campaign. In his comment, Kie commended Lagos state government for recognising Ecobank as an environment friendly bank,

stressing that, Ecobank would continue to partner government and non-governmental organisations to protect the environment. “Our support to Lagos State government in this tree planting initiative is in line with our business mantra and is one of the ways to exhibit our visible, vibrant and enduring CSR to mitigate the potential adverse effects of climate change. This also enables us support the far reaching consequence of creating and providing an esthetic environment for Lagos and its people.”

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

DECEMBER 2016 Broad Money (M2)

23,840,392.42

-- Narrow Money (M1)

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

-- Net Domestic Credit (NDC)

26,774,684.47

---- Credit to Government (Net)

4,595,579.89

---- Memo: Credit to Govt. (Net) less FMA

7,436,917.79

---- Memo: Fed. and Mirror Accounts (FMA)

-2,841,337.90

---- Credit to Private Sector (CPS)

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

--Currency in Circulation

2,179,174.28

--Banks Reserves

3,318,344.71 • Source - CBN

MONEY MARKET INDICATORS (%) December 2016 Inter-Bank Call Rate

10.39

Monetary Policy Rate (MPR

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55

• Monetary Policy Rate - 14%

OPEC DAILY BASKET PRICE AS AT TUESDAY 27, JUNE 2017

The price of OPEC basket of fourteen crudes stood at $44.23 a barrel on Tuesday, compared with $43.14 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (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).

T H I S D AY • thurSDAY, june 29, 2017

Nigeria’s top 50 stocks based on market fundamentals

28-June-17 23-June-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

200.00

195.60

2.25%

3,408,101,481,000.00

10.95

18.26

5.54

4.00%

4.27

02 Nigerian Breweries Plc

154.53

151.90

1.73%

1,225,283,960,222.64

3.58

43.12

3.91

2.33%

7.39

03 Guaranty Trust Bank Plc

36.00

34.50

4.35%

1,059,522,452,064.00

4.49

8.01

2.56

4.92%

2.10

910.00

900.01

1.11%

721,317,189,320.00

10.00

91.02

3.97

3.19%

23.36

20.58

20.33

1.23%

646,139,842,115.88

4.13

4.98

1.27

8.75%

0.92

06 United Bank for Africa Plc

9.00

8.32

8.17%

326,515,736,898.00

1.99

4.52

0.85

6.67%

0.73

07 Stanbic IBTC Holdings Plc

30.90

30.60

0.98%

309,000,000,000.00

2.85

10.83

1.98

0.32%

2.19

08 Presco Plc

73.00

0.00%

289,844,824,285.00

0.03 2,496.60

4.06

1.78%

6.93

9.10

8.86

2.71%

263,244,541,842.10

13.18

0.69

6.04%

0.58

460.00

0.00%

254,522,743,980.00 -82.02

-5.61

4.02

3.46%

0.68

11 Ecobank Transnational Incorporated

13.15

13.27

-0.90%

241,296,598,477.25

0.68

19.44

0.41

4.71%

0.38

12 Lafarge Africa Plc

48.60

0.00%

221,368,227,966.00

3.71

13.10

1.01

6.17%

0.89

13 FBN Holdings Plc

5.91

5.89

0.34%

212,141,180,400.72

0.21

28.48

0.40

2.54%

0.34

40.85

42.99

-4.98%

154,547,651,812.50

0.81

50.31

2.21

0.12%

13.22

9.00

9.03

-0.33%

108,000,000,000.00

1.20

7.50

0.64

5.56%

1.63

16 Guinness Nig Plc

71.50

0.00%

107,671,005,442.00

-3.06

-23.38

1.04

4.48%

2.73

17 International Breweries Plc

30.57

29.12

4.98%

100,705,200,489.60

0.02 1,356.74

3.78

0.82%

9.18

18 Total Nigeria Plc

272.10

272.01

0.03%

92,383,891,847.70

43.58

6.24

0.32

5.15%

3.92

19 Mobil Oil Nig Plc

248.00

0.00%

89,427,624,976.00

22.61

10.97

0.95

2.90%

4.17

7.18

7.24

-0.83%

86,408,563,658.92

0.29

24.73

0.19

10.45%

0.45

21 Flour Mills Nig. Plc

27.99

27.74

0.90%

73,452,398,864.13

-1.19

-23.46

0.17

7.15%

0.74

22 Forte Oil Plc.

52.54

50.04

5.00%

68,432,357,151.62

2.22

23.68

0.46

6.57%

1.58

1.50

1.43

4.90%

58,081,496,137.50

-0.03

-51.54

0.98

0.00%

0.67

24 7-Up Bottling Comp. Plc

90.00

0.00%

57,653,132,670.00

-0.05

0.62

2.44%

2.60

25 Okomu Oil Palm Plc

58.49

61.56

-4.99%

55,794,195,900.00

5.15

11.36

3.88

0.17%

3.28

26 Julius Berger Nig. Plc

39.45

41.52

-4.99%

52,074,000,000.00

-2.89

-13.64

0.37

3.80%

0.74

04 Nestle Nigeria Plc 05 Zenith Bank Plc

09 Access Bank Plc 10 Seplat Petroleum Dev. Co. Ltd

14 Unilever Nigeria Plc 15 Dangote Sugar Refinery Plc

20 Oando Plc

23 Transnational Corporation Of Nigeria Plc

27 Fidelity Bank Plc

1.26

1.20

5.00%

36,492,857,971.92

0.39

3.25

0.24

12.70%

0.20

17.99

17.42

3.27%

34,556,350,322.13

3.37

5.34

0.46

5.56%

0.46

29 Sterling Bank Plc

1.01

0.00%

29,078,322,307.26

0.18

5.63

0.26

8.91%

0.34

30 Diamond Bank Plc

1.20

1.13

6.19%

27,792,466,761.60

-0.29

-4.09

0.13

0.00%

0.12

31 Glaxo Smithkline Consumer Nig. Plc

20.45

0.00%

24,455,674,179.60

3.51

5.82

1.70

1.47%

1.43

32 Cadbury Nigeria Plc

13.00

13.10

-0.76%

24,416,626,520.00

-0.16

-82.38

0.81

10.00%

2.21

33 FCMB Group Plc

1.22

1.19

2.52%

24,159,307,152.82

0.72

1.68

0.14

8.20%

0.14

34 National Salt Co. Nig. Plc

8.87

9.33

-4.93%

23,500,518,412.86

0.91

9.73

1.28

6.20%

2.92

33.25

0.00%

23,275,000,000.00

2.29

14.52

3.42

3.46%

10.19

36 Mansard Insurance Plc

2.14

2.19

-2.28%

22,470,000,000.00

0.25

8.53

1.08

2.34%

1.11

37 Wema Bank Plc

0.56

0.57

-1.75%

21,601,701,005.36

0.07

8.33

0.40

0.00%

0.45

38 Custodian And Allied Insurance Plc

3.66

3.50

4.57%

21,527,622,953.70

0.91

4.04

0.56

3.83%

0.72

39 PZ Cussons Nigeria Plc

20.90

0.00%

20,900,000,000.00

5.69

3.68

1.46

0.48%

0.56

40 Honeywell Flour Mill Plc

1.77

1.86

-4.84%

14,036,449,854.66

-0.40

-4.38

0.29

9.04%

0.42

41 Continental Reinsurance Plc

1.25

1.27

-1.57%

12,965,930,390.00

0.42

2.98

0.59

9.60%

0.69

42 Cement Co. Of North.Nig. Plc

10.21

0.00%

12,830,679,990.86

0.22

46.64

1.15

0.98%

1.19

43 Unity Bank Plc

0.76

0.00%

8,883,896,835.92

0.19

4.07

0.11

0.00%

0.11

44 Skye Bank Plc

0.64

0.67

-4.48%

8,883,392,902.40

-2.93

-0.22

0.05

46.88%

0.09

45 Wapic Insurance Plc

0.52

0.50

4.00%

6,959,023,891.04

0.18

2.89

0.89

5.77%

0.42

46 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

47 Nigerian Aviation Handling Company Plc

3.05

0.00%

4,953,867,187.50

0.36

8.53

0.62

6.56%

0.76

48 UACN Property Development Co. Limited

2.74

2.88

-4.86%

4,709,374,986.30

-0.90

-3.04

0.74

25.55%

0.14

49 AIICO Insurance Plc

0.58

0.00%

4,019,518,598.40

1.48

0.39

0.15

8.62%

0.46

50 Fidson Healthcare Plc

2.57

2.75

-6.55%

3,855,000,000.00

0.21

12.17

0.50

1.95%

0.58

28 U A C N Plc

35 Cap Plc

TOTAL

10,704,918,745,947.90

TOTAL MARKET CAP

11,292,987,396,860.10

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

94.79%

Table 1 Market Statistics Mkt Indicators NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open Close Change % 23-June-17 29-June-17 32,122.14 11.11

32,657.30 11.29

1.67% 1.67%

135.08 10.52

137.49 10.70

1.78% 1.78%

Table 3 Top 5 Gainers Stock

Open Close Change % 23-June-17 29-June-17

United Bank for Africa Plc Diamond Bank Plc Fidelity Bank Plc Forte Oil Plc. International Breweries Plc

8.32 1.13 1.20 50.04 29.12

9.00 1.20 1.26 52.54 30.57

8.17% 6.19% 5.00% 5.00% 4.98%

Table 4 Top 5 Losers Stock

Open Close Change % 23-June-17 29-June-17

Fidson Healthcare Plc Okomu Oil Palm Plc Julius Berger Nig. Plc Unilever Nigeria Plc National Salt Co. Nig. Plc

2.75 61.56 41.52 42.99 9.33

2.57 58.49 39.45 40.85 8.87

-6.55% -4.99% -4.99% -4.98% -4.93%

Market gains by 1.67% to halt three-day losing streak Market pulse on the Nigerian Stock Exchange (NSE) today – Monday, June 28th, 2017 ended on a positive note as the stock market closed green. This was further highlighted by positive performance from the NSE Subsectors: Banking, Insurance and Oil & Gas (Save Consumer Goods). Also, trading activities decreased in volume as 386.24m shares worth of N3.30 billion in 4,372 deals exchanged hands today. This is a decrease from 417.57m shares worth of N3.25 billion in 5,456 deals which exchanged hands on Friday. Topping in volume terms are: United bank for Africa Plc, Wema Bank Plc and Transnational Corporation of Nigeria Plc; Guaranty Trust Bank Plc and United bank for Africa Plc ended trading as the most active stocks in value terms. Brent crude oil price slides further to US$45.66 per barrel. The All Share Index (NSEASI) closed positive with 1.67% (+535.16) increase to close at 32,657.30 from 32,122.14 the previous trading day. Market capitalization appreciated in tandem to N11.29 trillion from N11.11 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 1.78% to 137.49 from 135.08 recorded at the end of the previous trading day, while its market capitalization stood at N10.70 trillion from N10.52 trillion of the previous trading day. Market breath closed positive today as 26 stocks gained on the bourse while 21 stocks also declined, leaving 63 stocks unchanged. Topping the Thisday BGL 50 Index gainers’ list United bank for Africa Plc as it emerged as the day’s toast of investors with a gain of 8.17% to close at N9.00 per share. It was followed by Diamond Bank Plc with a gain of 6.19% to close at N1.20 per share. Others on the gainers list include: Fidelity Bank Plc, Forte Oil Plc and International Breweries Plc; while on the decliners’ list, Fidson Healthcare Plc lead with a loss of 6.55% to close at N2.57 share. It was followed by Okomu Oil Plc with a loss of 4.99% to close at N58.49 per share. Others on the decliners list include: Julius Berger Nig. Plc, Unilever Nigeria Plc and National Salt Co. Nig. 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 • THURSDAY, JUNE 29, 2017

MARKET NEWS

ASEA, CFA Partner to Raise Standards in Investment Management Goddy Egene and Nosa Alekhuogie The African Securities Exchanges Association (ASEA) , has signed a two year Memorandum of Understanding (MoU) with CFA Institute to increase access to the professional education programmes and standards of professionalism within the ASEA community’s jurisdictions.

As a result of the pact, CFA Institute has extended its suite of educational offerings to ASEA member exchanges, regulators, brokerage firms and any other capital market stakeholders within the ASEA member exchanges’ jurisdictions at discounted rates. The programmes are: CFA Institute Investment Foundations certificate programme, which covers t the essentials of finance,

ethics, and investment roles, providing a clear understanding of the global investment industry. The CFA Programme Scholarship that enables eligible candidates to enroll in the CFA Program to begin earning the Chartered Financial Analyst® (CFA) credential, the most respected and recognized investment management designation in the world. There is also the Certificate

in Investment Performance Measurement Programme for advanced, globally-relevant, and practice-based investment performance and risk evaluation skills which enable professionals to put clients’ interests first. Another one is the Ethical Decision-Making webinar, which offers free access to an ethical decision-making framework for the highest standards of ethics in the investment profession.

Commenting on the development, President of ASEA, Mr. Oscar Onyema, said: “This new partnership with CFA Institute complements our strategic objectives and we are delighted to be working together for the mutual benefit of our organisations, by providing capital markets stakeholders on our continent with the skills and tools they need for sound investment management and

ethical practices. The more we promote proficiency and ethics in our markets, the more African markets will be attractive to investors.” Also speaking, President/ CEO of CFA Institute, Paul Smith said: “This MoU is our first significant step towards beginning to invest more meaningfully in Africa. By bringing our programmes to the ASEA community.

DAILY STOCK MARKET REPORT T H E

N I G E R I A N

STO C K

E XC H A N G E

T H I S D AY • THURSDAY, JUNE 29, 2017

MARKET NEWS

Multiple Subscribers to Public Offers Risk Prosecution Investors in the Nigerian capital market with multiple subscriptions for the same public offer may forfeit their investment and may be persecution going by the recommendations of a committee set up to look into the matter and decisions reached by the Capital Market Committee. The Securities and Exchange Commission at its last CMC approved the report of the market wide committee on formulating a uniform position

for the treatment of multiple subscriptions to public offers. According to SEC, the Nigerian capital market cannot and should not be seen to reward the wrongful acts/illegality of the perpetrators, saying the move was to ensure the global sustainability of the Nigerian capital market’s integrity and reputation. SEC in a circular noted that one major source of unclaimed dividend remains the use of non-existent

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

identity to make multiple subscriptions to public offers. The Committee reported that the action of submitting multiple applications for the same public offer was, in every consideration, illegal and was done under false pretense. The report described two groups of investors involved in multiple subscriptions. The first group (Group A) of investors actually existed but joggled their names in different forms to enable them purchase more than the permitted units of

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 22-June-2017, unless otherwise stated.

shares on offer. While, the second group (Group B) is the class of investors that did not actually exist but used fictitious names for the purpose of purchasing more than the permitted number of shares during public offers. The report agreed that both groups had fraudulent intentions and their actions were collectively illegal. Consequently the CMC recommended that Group ‘A’ above should be considered for a level of forbearance by giving them a grace period up to

September 1, 2017 within which to come forward and expressly prove their individual identities, subject to highest know-yourclient(KYC) criteria, to be defined by the SEC. Those owners, whose identities are established, would then be allowed to consolidate their accounts. After the expiration of the timeframe, unclaimed dividends, traceable to this category that have not been identified and consolidated, along with their securities shall be transferred to the Nigerian

Capital Market Development Fund NCMD. On the other hand, since category ‘B’ refers to those securities with non-existent owners, the unclaimed dividends and related securities of this category cannot be ascribed to anyone, both the unclaimed dividends and securities shall be transferred to the NCMD. It was resolved that going forward, anybody who engages in the wrongful act of multiple subscriptions for the same public offer, shall be prosecuted.

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 157.02 158.15 23.84% Nigeria International Debt Fund 223.90 225.40 5.62% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.74 0.75 5.54% 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 18.87% 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 15.91 16.39 28.86% ARM Discovery Fund 342.76 353.10 19.36% ARM Ethical Fund 24.66 25.41 10.40% ARM Money Market Fund 1.00 1.00 0.00% 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 129.69 130.60 23.30% AXA Mansard Money Market Fund 1.00 1.00 18.32% 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 16.91% Paramount Equity Fund 11.22 11.51 19.88% Women's Investment Fund 90.87 93.20 7.42% 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 19.16% 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 1,111.08 1,112.21 9.67% FBN Heritage Fund 128.92 129.98 15.62% FBN Money Market Fund 100.00 100.00 18.66% FBN Nigeria Eurobond (USD) Fund - Institutional $108.30 $109.27 5.33% FBN Nigeria Eurobond (USD) Fund - Retail $107.60 $108.57 5.38% FBN Nigeria Smart Beta Equity Fund 144.49 146.55 28.31% 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 1.23 1.25 31.91% Legacy Short Maturity (NGN) Fund 2.77 2.77 7.62% 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 2,608.57 2,653.39 18.40% Coral Income Fund 2,294.10 2,294.10 9.02% 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 18.87% 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 17.44% Vantage Balanced Fund 1.97 1.99 17.03% Vantage Guaranteed Income Fund 1.00 1.00 17.33%

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 1.07 1.09 7.94% Lotus Halal Fixed Income Fund 1,037.02 1,037.02 5.37% 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 12.72 12.82 31.61% 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 13.69% PACAM Fixed Income Fund 10.62 10.69 2.21% PACAM Money Market Fund 10.00 10.00 14.69% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 120.18 121.17 18.04% 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 1.32 1.32 5.80% 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 2,056.79 2,068.46 12.32% Stanbic IBTC Bond Fund 160.51 160.51 4.25% Stanbic IBTC Ethical Fund 0.91 0.92 18.83% Stanbic IBTC Guaranteed Investment Fund 201.00 201.00 7.55% Stanbic IBTC Iman Fund 158.20 160.39 21.91% Stanbic IBTC Money Market Fund 100.00 100.00 18.51% Stanbic IBTC Nigerian Equity Fund 8,823.88 8,924.28 16.34% 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 1.27 1.28 7.14% United Capital Bond Fund 1.35 1.35 15.27% United Capital Equity Fund 0.80 0.82 -2.11% United Capital Money Market Fund 1.15 1.16 11.25% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 11.81 12.00 21.85% Zenith Ethical Fund 12.65 12.79 15.65% Zenith Income Fund 18.09 18.09 9.46%

REITS

NAV Per Share

Yield / T-Rtn

11.41 127.64

1.01% 2.96%

Bid Price

Offer Price

Yield / T-Rtn

9.85 93.90

9.95 95.64

12.12% 23.90%

Fund Name FSDH UPDC Real Estate Investment Fund SFS Skye Shelter Fund

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697

Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

3.90 7.89 15.40 19.50 130.19

3.94 7.97 15.50 19.70 130.19

41.07% 12.16% 29.10% 22.12% 0.24%

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.

T H I S D AY THURSDAY JUNE 29, 2017

SOURCES OF FOREIGN EXCHANGE AS AT 23RD 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 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

CUSTOMERS DIZENGOFF W.A NIG LTD UNIQUE PHARMS BHOJSONS PLC FREISLANDCAMPINA WAMCO NIG PLC DRUGFIELD PHARM LTD BHOJSONS PLC CHI LTD MAMUDA AGRO ALLIED KAM IND. OXFORD HYDROCARBON HAFFAR INDUSTRIAL COMPANY LTD KAM IND. KAM IND. RINGARDAS MANTRAC MANTRAC MANTRAC MANTRAC MANTRAC MANTRAC MANTRAC UAC OF NIGERIA PLC GAMJI AGROCHEMICALS LTD CROWN FLOUR MILL LTD CROWN FLOUR MILL LTD CROWN FLOUR MILL LTD CROWN FLOUR MILL LTD CROWN FLOUR MILL LTD CBN CBN CBN CBN CBN CBN CBN CBN CBN CBN KANN UTILITY KANN UTILITY COMPANY LTD NAMPAK UNIKEM INDUSTRIES LIMITED NAMPAK BEVCAN NIIGERIA LTD NAMPAK BEVCAN NIIGERIA LTD UNIQUE PHARMA UNIQUE PHARMA UNIQUE PHARMA UNIQUE PHARMA UNIQUE PHARMA YOUNG SHALL GROW MOTORS CITI BANK CKS INTERNATIONAL TNC SPARES AND INVESTMENT TNC SPARES AND INVESTMENT BANK OF YORK MELLON NCR NCR OBI KING OBI KING OBI KING OBI KING OBI KING SPRINGFIELD AGRO SPRINGFIELD AGRO SPRINGFIELD AGRO SPRINGFIELD AGRO TRANSCAP LIMITED AMAERUCHI FELIX AGWUIBE AUGUSTINE C ANJORIN FUNKE FELICIA ONYEJEGBU ELEAZAR OKONKWO DR MUSA MAMMAN WATILA OPADEJI VICTOR TOLUWANIMI MALGWI YUSUF HARUNA IDOWU GBADEBO FOLASHADE BELLO LATIFAT OGAJI ABANG JOSEPH ASU AWOYUNGBO ABIOLA TOLULOPE DUROSINMI MAGDALENE EGUCHE LILLIAN ADAMU ABUBAKAR OKORO FELIBENS EDEHERI OMO OJO BETTY IGBINOGHODUA AHMAD KHADIJA OMONIJE OLUKAYODE OLAOLUWA OLADAPO ADEBISI OLUYEMI ONWASIGWE CHIKODILI E SHALLANGWA HASSAN SULE ONUMA MARTIN OKORO ONOKPISE AMOS KOME EGBEBIKE MICHEAL OKWUDILI OMO GABRIEL SUCCESS NZEUKWU NNAMDI THEOPHILUS BATURE, USMAN ABDULAZIZ AJAJA IFEDOLAPO TEMITOPE ADEPOJU COMFORT OLURANTI OJO CLEMENT AYO ADEJUMOBI LUQMAN ADEREMI AGEGE PARIS I S AGEGE YEMISI J OKWUWOLU WOLU EKELECHI ANSLEM MAUREEN OBALO JOACHIN ALIU OMAGE ABAKU ROLAND AMURE ESTHER OLUFUNMILAYO

AMOUNT (US$) 124.23 668.43 686.44 874.50 455.74 320.27 372.64 16,000.00 100,000.00 100,000.00 500.00 5,000.00 95,000.00 100,000.00 285.00 285.00 6,943.84 285.00 389.70 228.57 310.36 10,512.14 98,016.00 748,249.00 395,751.00 65,537.00 900,000.00 132,061.00 128,936.45 210,551.07 153,549.52 232,706.04 200,017.48 332,040.47 141,442.90 208,182.15 149,805.02 241,684.10 500,000.00 252,200.00 73,175.09 300,000.00 71,692.00 558,870.74 1,730.00 40,352.38 50,000.00 37,934.00 20,580.00 85,000.00 8,000,000.00 356,730.00 70,784.20 144,807.60 147,082.47 79,160.00 427,260.00 128,530.66 171,263.12 149,986.89 128,567.14 499.12 34,350.20 34,667.69 130,982.11 510,753.45 179,200.26 4,000.00 1,300.00 1,000.00 5,000.00 4,000.00 2,000.00 4,000.00 2,000.00 1,800.00 1,000.00 3,200.00 4,000.00 4,000.00 5,000.00 3,000.00 800.00 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 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00

PURPOSE AGRICULTURAL KNAPSACK SPRAYERS LDPE FILM GRADE NEW LIFAN MOTORCYCLES IN CKD GUM BASE MPGROWING UP MILK PHARMACEUTICAL EQUIPMENT MACHINE FOR ELECTRIC CURRENT ARLA SKIMMED MILK POWDER BASIC CHROME SULPHATE MACHINES FOR STEEL MELTING PLANT 6000 MTS OF GASOIL SYNTHETIC TOW OF ACRYLIC FOR SPINNING STEEL MELTING PLANT HOT ROLLING STEEL BITUMEN CATERPILLAR SPARE PARTS CATERPILLAR SPARE PARTS CATERPILLAR SPARE PARTS CATERPILLAR SPARE PARTS CATERPILLAR SPARE PARTS CATERPILLAR SPARE PARTS CATERPILLAR SPARE PARTS TRAINING FEE DDVP AGRICULTURAL INSECTICIDE MACHINERY FOR PREPARING ANIMAL FEED MACHINERY FOR PREPARING ANIMAL FEED MACHINERY FOR PREPARING ANIMAL FEED MACHINERY FOR PREPARING ANIMAL FEED FEEDS STORAGE MACHINERY IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN IMTO TRANSFERRED TO CBN PAYMENT OF LOAN INTEREST PAYMENT OF LOAN INTEREST PAYMENT OF LOAN INTEREST CRUDE DENATURED ETHYL ALCOHOL PAYMENT OF LOAN INTEREST SILVER ENDS PHARMACEUTICAL RAW MATERIAL PHARMACEUTICAL PRODUCTS TOLUENE DIISOCYANATE-TDI SODIUM LACTATE SODIUM CHLORIDE INJECTABLE EP CUMMINS ENGINE & ENGINE ACCESSORIES INTERBANK CCI REPAYMENT NEW MOTORCYCLE IN CKD NEW MOTORCYCLE IN CKD UBA 2016FYE DIVIDEND PAYMENT NCR SELF SERV 6623, 6627 ATMS NCR SELF SERV 6623, 6627 ATMS ELECTRICAL APPLIANCES ELECTRICAL APPLIANCES ELECTRICAL APPLIANCES ELECTRICAL APPLIANCES ELECTRICAL APPLIANCES UNCOATED UNBLEACHED KRAFT PAPER INDUSTRIAL CHEMICAL RAW MATERIALS INDUSTRIAL CHEMICAL RAW MATERIALS INDUSTRIAL CHEMICAL RAW MATERIALS DEMURRAGE PAYMENT PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA BTA PTA PTA PTA PTA PTA

RATE 340.50 340.50 340.50 340.50 340.50 340.50 340.50 337.50 306.30 306.30 340.50 306.40 306.40 306.40 340.50 340.50 340.50 340.50 340.50 340.50 340.50 337.50 325.50 310.50 310.50 310.50 310.50 315.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 357.00 366.00 361.00 361.00 369.00 366.00 370.00 368.00 368.00 368.00 368.00 368.00 366.00 370.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 361.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

DATE 19-Jun-17 19-Jun-17 19-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 19-Jun-17 19-Jun-17 20-Jun-17 20-Jun-17 21-Jun-17 21-Jun-17 22-Jun-17 22-Jun-17 23-Jun-17 23-Jun-17 21-Jun-17 22-Jun-17 22-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 23-Jun-17 23-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17

S/N 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 188 189 190 191 192 193 194 195 196 197 198 199 200 201 202 203 204 205 206 207 208 209 210

CUSTOMERS OSHOGWE DENISE INENEMOR OSAROBO PETRA EFOSA OPESON MARKETING COMPANY OJOGWU LOUIS IKECHUKWU ANIEKWU ANNY NATHANIEL NWACHUKWU UZOMA CHRISTIAN FOLARIN JOHN OLAKUNLE EMMA OBI CHUKWUNONSO NDAYAKO USMAN SHEHU IHEBIA IFEANYI ISDORE NWABUGWU HENRY ODOGWU NONYELUM HELEN NWABUGWU HENRY KAYODE R KOLADE BOB NABENA, TAREPERE AKEKUE M.N.PRINCE NWANYANWU NICHOLAS IKWUYUM OBANDE FRANCIS CLETUS W RONALD BASHIR R MOHD OLUWAKEMI ADETOLA A THOMAS MONSURAT ISIAKA EGOR F EGBE EDWIN E NWAGWU NWANCHUKWU EDINBURCH ADEKULE BABATUNDE OLAYINKA MOORE PAULINE OBIAGERI ZEKERI MOHAMMED BASHIRU ODIVIORI JOY SANDA SARAH NAYIN BODELAWAL, JUMOKE FAVOUR OTONO OGENAORIAME GODSWILL AMAMCHUKWU DENNIS OSITA ASAMUDO SAMUEL J OLIVER ROE AKUDO BENABALI ETHEL IFIEMI UDEALA KINGSLEY DAVID OJOMO ANTHONY MARK BABAJIDE OGBU IKECHUKWU CHUKWUKA CHUKWUJEKWU OGBONNA C EZEMA SUNDAY EKANEM EKANEM MICHAEL BIACHI VICTORIA UNOMA BADEKALE GRACE OMOLARA IMARAH EMOGHENE & ORERHIME G.I.K OBUTE & CO. NJEMANZE ULUNMA CHIDINMA CEDAR BAY (NIGERIA) LIMITED GARBA SHEHU OIKEH EDITH E ABDULKAREEM, AMUSAT UDOM U INOYO BELEMA O EKINE EMEKA E IZUNDU JUDE N NWAIGWE LOUIS C EZEILO OKWARA, BRIDGET CHIKA ANTHONY N OLOWOLAFE ANYABA, CHIBUZOR KINGSLEY AMOPE A CHOKOR JINADU EMIABATA EKPENYONG E ITA ILOH NWAMAKA EKENE AKINTUNJI E FATUNKE ALIYU, MOHAMMED MBACHU AGATHA HAJARA MBANUGO ONYECHI OBIANOZIE OMAMEH AMBROSE ONYEBUCHI ANIRAH FELIX URUEMUESIRI ORIKE ADIELA SONNY EZE JUSTINA CHINENYE FOLASHADE FASILAT OJE OBIDIMMA LAMBERT EMEKA OMORUYI RICHARD ENEIGBE OBUALA IRIGHA JULIUS SHALLI TIWUDU MAGAJI CHARLES O OTAKORE OGUNSINA MOSUNMOLA O ADEDEJI I OLADELE UMAR IBRAHIM AYETENI HONEYBEL UFOMA EYITAYO SAMUEL ADEGBOYEGA NDUKWE A STEPHEN KOMOLAFE FLORENCE ADENIKE OLUYOMI STELLA OLUREMI OLUYOMI O JOB AJAYI BEATRICE TOMISIN IYEYE SUNDAY ONAJITE CHUKWU VERA EBIKABOERE ILOH NWAMAKA EKENE EKEMEZIE CHUKWUMA PAUL VICTORIA AJOKEADE CALLISTO ADEWOLE ABOSEDE OYEWEMIMO INANI SARAH COURAGE ANYANWU CYNTHIA CHIBUZOR AZIAGBA CHUKWUNONSO ERNEST SHOLOLA IRETIOLA OLUSHEYI ADEWALE ADEWUYI ADEDOTUN ADAMU PETER EMMANUEL HOME OPTIONS LTD YINUSA SILIFAT MOROUNKE ADEKOYA CHRISTIABAH ADERONKE AJAYI BABATUNDE OLADANDE EKPO FLORENCE ANIETTE

AMOUNT (US$) 4,000.00 3,300.00 5,000.00 4,000.00 2,000.00 5,000.00 3,000.00 1,600.00 650.00 284.20 1,971.90 1,314.61 1,143.40 8,076.32 1,187.27 2,374.54 3,420.42 4,000.00 500.00 5,736.00 2,082.24 2,506.00 2,600.00 1,733.65 850.00 4,000.00 4,000.00 500.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 350.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,635.39 2,635.39 10,227.44 2,808.00 2,395.00 3,531.00 2,000.00 2,000.00 3,450.00 14,637.00 5,834.47 3,166.06 7,078.19 14,778.40 3,183.04 14,323.68 10,231.20 14,778.40 11,384.93 2,634.60 2,634.60 3,953.10 11,417.00 5,000.00 4,000.00 4,000.00 3,000.00 4,000.00 4,000.00 4,000.00 5,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 5,000.00 2,500.00 4,000.00 1,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,600.00 4,000.00 5,000.00 2,500.00 4,000.00 4,000.00 3,921.00 657.15 1,314.31 1,314.61 3,953.00 11,902.87 5,000.00 4,000.00 4,000.00 4,000.00

PURPOSE PTA PTA BTA PTA PTA BTA PTA PTA PTA 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 PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES LIVING EXPENSES SCHOOL FEES LIVING EXPENSES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES LIVING EXPENSES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES BTA PTA PTA BTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA SCHOOL FEES & LIVING EXPENSES BTA PTA PTA PTA

RATE 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00

DATE 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 19-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17

S/N 211 212 213 214 215 216 217 218 219 220 221 222 223 224 225 226 227 228 229 230 231 232 233 234 235 236 237 238 239 240 241 242 243 244 245 246 247 248 249 250 251 252 253 254 255 256 257 258 259 260 261 262 263 264 265 266 267 268 269 270 271 272 273 274 275 276 277 278 279 280 281 282 283 284 285 286 287 288 289 290 291 292 293 294 295 296 297 298 299 300 301 302 303 304

CUSTOMERS FOLORUNSO ANDREW OHITEMEH OGBUMMUO FLORENCE EYIUCHE OGBUMUO EBUKA KINGSLEY OWEDE HUMPHREY ESEOGHENE ESTHER ADGIDZI NAMAN GARRY ZAMANI ANYOHA PETER CHIMEZIE USMAN BURBUR ZAINAB SHEHU SABIU MOHAMMED AJAYI TAYO JOSEPH FATUYI SAMUEL OLUSEGUN FAIRLANE VENTURES SERVICES AIWERIOGHENE OSAYANDE ABEDNEGO SALISU MUBARAK MUHAMMAD ABATAN OLANREWAJU OLUTOYIN ONAGORUWA MOJISOLA FOLUKE EKEADE OLUFUNMILAYO ADEBUKOLA CHUKWUOGO AMAKA STELLAMARIS OGIONWO FLORENCE FOKOMUA FUNKIYE AKINGBADE DUNMADE OYEKEMI BOTOSAN O.ISAAC UWAZIE, PATIENCE OBIAGELI TEGA NUKIE AGHOGHO ESABUNOR TEGA NUKIE AGHOGHO ESABUNOR OFFOR IVO IKECHUKWU AROLU ANIKE BILIKISU IBRAHIM SABIYA MURTALA OKOLI EJIKE CHRISTIAN MACDE RESOURCES NIG LTD SERIFAT B AFOLABI CHETEZE CHEKWUBE SAMSON SONUYI BOSUN IMAGHODOR HELEN OSA TIMOTHY AFOLABI BABATUNDE BABATUNDE FOLASADE ABIMBOLA EJIDEAKU ELIZABETH IFEOMA ANYANWU IHUOMA N OLALEKAN OMOBOLAJI ABIDEMI ANYOHA CHIMEZIE PETER OLUSOLA OLUJIMI OLUFEMI OBIOHA NKEMAKONAM CHRISTOPHER OKEOWO MORENIKE MOSUNMOLA MOHAMMED HABIBU WALELE PHILIPS FORTUNE OJINNAKA NGOZI CHINYELU PROF AHANEKU JOSEPH EBERENDU AJADI OBAS AHMED BABATUNDE IDIAGHE JULIANA NIMEM ILECHUKWU ISIMEME GRACE HAJIA ZAINAB ADAMU BELLO VERONICAL OLAYEMI AWE ABIODUN OLUBUKOLA EUNICE ADANNENNA IGWE DENNIS AUGUSTA DEGUN ADEOYE E AGBA ANDORNIMYE JANE KANU MARYAM OLUWATOYIN BJO PROPERTIES LTD DEBORAH AKPEDEYE ECHEBIRI NGOZI KELLY IROTUMHE AGBOME ALEX IROTUMHE ODUAKI AGATHA ANYANWU BOSCO CHIKA UGOH MMADUABUCHI BETH ABURIME PETER OMON NNANYELUGO JUDE OSENI OLAWUNMI SULYAT OGBONNA SIMON OSSAI PHILIPS JOHNNY IME IRATSI MATHIAS IRARIMAM MAJEKODUNMI MOPELOLA EMMANUEL C OKORIE AKANBI, ADEBUKOLA OPEYEMI ILU AUWALU AHMED ADEBOWALE OLUWOLE TOKI IDRIS GAMBO JOHN EMEGA HOME OPTIONS LTD NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC UNILEVER NIG PLC PURECHEM MANUFACTURING LIMITED NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC NIGERIAN BREWERIES PLC

AMOUNT (US$) 2,000.00 5,000.00 4,000.00 5,000.00 1,500.00 2,668.00 5,000.00 3,750.00 4,000.00 5,000.00 5,000.00 4,000.00 1,000.00 4,000.00 2,400.00 3,977.30 833.95 1,314.00 3,951.90 3,953.10 4,000.00 387.00 12,721.66 13,079.01 10,041.54 937.50 2,387.07 13,143.00 13,143.00 11,009.69 5,000.00 2,000.00 4,000.00 4,000.00 4,000.00 4,000.00 1,400.00 4,000.00 5,000.00 550.00 5,000.00 3,000.00 4,000.00 600.00 2,000.00 2,500.00 4,000.00 1,000.00 2,000.00 4,000.00 1,100.00 2,000.00 5,000.00 1,400.00 4,000.00 3,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 4,000.00 2,500.00 4,000.00 4,000.00 5,000.00 5,000.00 5,000.00 1,500.00 1,583.96 2,568.00 1,376.76 2,000.00 8,000.00 2,092.00 3,100.00 932.33 12,507.04 478.23 306.98 874.13 2272 3958.82 233.03 3311.02 160.53 300 367.07 314.15 300 166.13 475.65 231.22 300

PURPOSE PTA BTA PTA BTA PTA PTA BTA PTA PTA BTA BTA PTA PTA PTA PTA PTA PTA BTA PTA PTA PTA SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES SCHOOL FEES & LIVING EXPENSES BTA PTA PTA PTA PTA PTA PTA PTA BTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA BTA PTA PTA BTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA PTA BTA BTA BTA PTA PTA PTA SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES SCHOOL FEES PSL HEINEKEN 600 ML WINTER BARLEY 11X20 CONTAINERS PSL HEINEKEN 600 ML KNORR CUBES BEEF 8G CONTACT ADHESIVE - 250 ML PSL HEINEKEN 600 ML PSL HEINEKEN 600 ML PSL HEINEKEN 600 ML PSL HEINEKEN 600 ML WINTER BARLEY WINTER BARLEY WINTER BARLEY WINTER BARLEY AMG 300ML BEW Q (ENZYMES) AMG 300ML BEW Q (ENZYMES) AMG 300ML BEW Q (ENZYMES)

RATE 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 360.00 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64 383.64

DATE 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17

UTILIZATION OF FOREIGN EXCHANGE AS AT 23RD 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 AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN I & E CBN SME INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

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AMOUNT (US$) 603.97 71.31 1,171.08 650.00 111.68 600.00 7,465.00 7,490.00 193.07 20.80 20.80 85.83 279.31 427.00 69.47 10,096.83 169,946.63 1,968.64 277,808.75 2,926.01 1,259.40 197.50 641.18 120.69 2,000,000.00 3,000,000.00 200,000.00 4,080.65 9,274.00 2,510.00 145.81 470.00 470.00 125.00 375.00 400.00 975.00 42.82 370.00 1,088.00 281.01 300.00 800.00 9.26 390.00 32.00 800.00

RATE 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 355.00 355.00 355.00 354.66 310.00 310.00 310.00 310.00 357.00 357.00 306.05 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00

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 AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN I & E CBN I & E AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 800.00 700,000.00 202,265.05 2,467.64 306,855.66 3,419.06 110.20 121.22 71,692.00 300,000.00 558,870.74 241.28 175.00 490.00 28.70 740.00 500.00 270.00 6,734.57 67,000.00 70,000.00 60,000.00 263,574.22 3,115.75 438,045.17 4,675.46 164.57 208.45 548.55 65.83 35,000.00 50,000.00 150,596.38 500,000.00 200,000.00 290.32 2,700.00 1,470.00 3,000.00 1,000.00 190.00 125.00 170.00 100.94 23.10 976.90 1,853.77

RATE 310.00 337.00 355.00 355.00 355.00 355.00 310.00 310.00 365.00 368.00 369.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.50 314.50 310.00 355.00 355.00 355.00 354.57 310.00 310.00 310.00 310.00 365.00 365.00 367.00 365.00 306.15 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00

DATE 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 20-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 21-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-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

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS INTERBANK AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 250.00 827,716.49 24,849.53 186,374.85 2,215.68 274,650.07 2,926.13 186.68 62.23 2,323.25 755.07 76.60 507.76 3,000,000.00 8,000,000.00 600,000.00 617.97 281.00 67.00 1,200.00 3,700.00 4,000.00 475.00 3,600.00 190.00 221.80 2,241,598.00 71,275.00 197,428.21 2,311.81 318,842.21 3,403.25 200.78 574.68 1,603.81 351.52 439.40 20,000.00 553,600.00

RATE 310.00 314.00 310.00 355.00 355.00 355.00 354.62 310.00 310.00 310.00 310.00 310.00 310.00 360.00 369.00 305.85 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 315.00 355.00 355.00 355.00 354.66 310.00 310.00 310.00 310.00 310.00 360.00 354.00

DATE 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 22-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17 23-Jun-17

Africaâ€™s global bank

T H I S D AY THURSDAY JUNE 29, 2017

THURSDAY, JUNE 29, 2017 • T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Venezuela Crisis: Helicopter Launches Attack on Supreme Court A helicopter has attacked Venezuela’s Supreme Court in what President Nicolás Maduro called a “terrorist” incident. Four grenades were dropped on the court and 15 shots fired at the interior ministry on Tuesday, officials said. Ex-policeman Oscar Pérez said he had piloted the stolen helicopter to attack what he called a “criminal government”. His whereabouts are unknown. Venezuela is in the midst of a political and economic crisis that has sparked mass protests. Many of those opposed to Mr Maduro see the Supreme Court as one of his main supporters. A blue police helicopter was seen flying over central Caracas carrying a banner reading “350 Freedom” - a reference to a clause in the constitution cited by opponents of Mr Maduro to claim his government is illegitimate. The government said 15 shots were fired at a social event at the interior ministry. The helicopter then flew to the court and dropped four Israelimade grenades of “Colombian origin”. One failed to detonate. No-one was injured. President Maduro appeared on state television to denounce the attack.

He said: “I have activated the entire armed forces to defend the peace. And you can be assured that sooner or later, we are going to capture that helicopter and those that carried out this terror attack against the institutions of the country.” Information Minister Ernesto Villegas said the military had been deployed to apprehend the pilot and recover the Germanbuilt Bolkow helicopter. State TV showed images of the pilot in front of the US Capitol building in Washington. Mr Maduro has long claimed the US government is attempting to have him overthrown. The government has urged calm but called for its supporters to rally outside the presidential palace on Wednesday morning. Freddy Guevara, of the opposition MUD alliance, said there was not yet enough information to comment on the attack. But he posted a tweet on Wednesday calling on people to continue to oppose the Maduro government. He said: “Maduro knows that nobody supports him, so today more than ever we must continue in the street, generating pressure to overcome

this dictatorship!” Some of the president’s opponents took to social media to suggest he was responsible for staging the helicopter attack in order to justify a further crackdown on dissent. The police officer identified himself as Oscar Pérez in video statements posted on the social media platform Instagram. Appearing in military fatigues and flanked by armed, masked men in uniform, he appealed to Venezuelans to oppose “tyranny”. “We are a coalition of military employees, policemen and civilians who are looking for balance and are against this criminal government,” he said. “We don’t belong to any political tendency or party. We are nationalists, patriots and institutionalists.” He said the “fight” was not against the security forces but “against the impunity of this government. It is against tyranny”. It is not clear how much support, if any, the officer has. Mr Maduro said the pilot had previously worked for former Interior and Justice Minister Miguel Rodriguez Torres, who the president has accused of links to the CIA.

No Final Grenfell Death Toll ‘This Year’ The final Grenfell Tower fire toll will not be known until at least the end of the year, with 80 people currently presumed dead, police say. The vast majority of those who died were said to be in 23 of the North Kensington building’s 129 flats. The 14 June fire destroyed 151 homes, most in the tower block, but also a number of surrounding properties. Det Supt Fiona McCormack said the full toll will only be known when the search and recovery operation is over. She said: “What I can say is that we believe that around 80 people are either dead or sadly missing and I must presume that they are dead.” The officer added: “I don’t want there to be any hidden victims. We want to understand the true human

cost of this tragedy.” Police said some residents had tried to move up the building to escape the flames and it is thought a number of people may have ended up in one flat. Det Supt McCormack said officers were having to prepare some families for the reality that their relatives’ remains may never be recovered. There was “utter devastation inside the flats,” she said. At least one person from 106 of the 129 flats at Grenfell Tower has been contacted in an attempt to identify those who might have died. Some of the victims have been identified from a variety of sources including 999 calls - 26 calls received came from inside the 23 flats where the majority of people are thought to

have died. The 23 flats concerned were located between the 11th and 23rd floors of Grenfell Tower. Det Supt McCormack said: “At this stage, we must presume, that no-one in those flats survived, that includes anyone who lived there or was visiting them.” Local people have created their own databases on missing people with figures which differ from those officially released. Police said they hoped information would be sent to its investigation if it might iden t i f y t h e missing. Police said “every imaginable source” of information “from government agencies to fast food companies” had been used to identify the victims.

Hamas Creates No-go Security Zone on Border with Egypt Palestinian Hamas movement, which rules Gaza, has begun building a nogo security zone on the strip’s border with Egypt, saying “Egypt’s national security is Palestine’s national security”. Tawfiq Abu Niem, Gaza’s deputy interior minister, said on Wednesday that the aim of the buffer zone is “to control the borderline area and

boost security” on the frontier with Egypt. The measures are part of an agreement reached with Egypt, Abu Niem said without elaborating. “We are sending a message to Egypt that we are committed to fully ensuring the borders,” he said. “The plan includes levelling a 12km area close to the borderline with Egypt, placing look-

out towers and cameras as well as lightening the whole area.” He said the closed military zone would be 12km long and 100m wide, aiming “to prevent smuggling drugs and infiltration of people from and to Egypt”. Bulldozers were expected to demolish a series of homes and structures along the border.

THURSDAY, JUNE 29, 2017• T H I S D AY

NEWSXTRA

FEC Approves 13-year Science, Technology Roadmap for Nigeria Okays flag-off of 72,000 tonnes of yam exports to UK today Co-opts corps members into NHIS Omololu Ogunmade in Abuja The Federal Executive Council (FEC) yesterday approved a 13year Science, Technology and Innovation Roadmap for Nigeria with a view to developing a science and technologically inclined nation. Briefing journalists at the end of yesterday’s FEC meeting in the State House, the Minister of Science and Technology, Dr. Ogbonaya Onu, said the council observed that Nigerian pupils don’t usually want to study Mathematics, a situation he said had been a setback for infrastructural development and industrialisation. According to him, the development had always compelled the country to contract major projects such as the building of refineries, roads and bridges to foreign companies, pointing out that the development has culminated in huge exportation of jobs from Nigeria. Hence, he said FEC resolved that the trend must stop and thus resulted in the approval of 2017-2030 science, technology and innovation blueprint by Science and Technology Ministry with the overall intention to “take our people beyond where we are.” Onu further said the roadmap had become necessary in view of attendant unemployment rate, worsening poverty and inability to build a self-reliant nation. “So, this roadmap will prepare Nigeria to be a truly great nation where we will have the capacity to use the natural resources we have to meet our needs as a nation to become

self-reliant. That will also give us confidence,” he said. Onu also said the blueprint had become imperative in view of the recent projection that in 2050, Nigeria would be the ninth largest economy in the world, affirming that without building a commensurate technologically inclined country, the projection would remain an illusion. “There are estimates that Nigeria, by purchasing power priority, will be the ninth largest economy of the world in 2050. We can’t do this without science and technology. In essence, the difference between the developed nations of the world that are the richest and developing countries that are poor is science and technology. How do you apply science and technology to nation building? So, this roadmap will help our nation to take us to where we should be. We will have the capacity to use the natural resources we have,” he added. Onu also said the roadmap would also provide the platform to educate Nigerians that the country had a very rich science and technology heritage, recalling that the ancestors created artefacts, fine works of art and other innovative productions which he said formed the basis for the study of architecture, medicine, and the like. Through the Nigerian ancestors’ technological and innovative creations, Onu said the native brand of iron had been in existence in the past 3,000 years. He added that the development would not only provide the platform to encourage Nigerians to build on such rich heritage from the ancestors, but also to make it better and consequently ensure

Lawyer Faults N’Assembly on Appropriation Bill Goddy Egene and Nume Ekeghe With the recent controversy over the legislature’s powers to adjust the Appropriation Bill, a Senior Advocate of Nigeria (SAN), Mr. Dele Adeshina, has said tempering with the budget is an attempt by the legislature to surpass its powers. Acting President Yemi Osinbajo had complained about the National Assembly’s alteration of figures in the 2017 budget estimates presented to it by the executive, saying the legislature lacked the powers to adjust or unilaterally introduce projects. Osinbajo’s comments received an instant backlash from the legislature. But speaking on Arise Television, a sister broadcast station of THISDAY Newspaper last night, Adesina said: “I believe the position of the organic law of the land which is the

constitution is clear and by Sections 4 and 5 of the constitution the powers of the legislature and that of the executive are clearly spelt out and Section 6 goes on to establish the power as of the judiciary.” “In our constitution, there is what we call separation of powers. Even though this is not a water tight of separation of power, one arm can be a check in the sense that one organ of government can be a check on the other. “I believe the present controversy is absolutely unnecessary. If people understand the scope and limit of their powers under the constitution. Let me state that the highest court of this country which is the Supreme Court has said over and over again that the constitution is the barometer for measuring what is right and what is wrong, what is valid and what is invalid, what is legal and what is illegal.”

a good placement for Nigeria in the comity of technologically inclined nations. In his briefing, Minister of Agriculture and Rural Development, Chief Audu Ogbeh, said he briefed the council on last week’s conclusion by the ministry to carry out the first formal export of Nigerian tubers of yam to the United Kingdom. Ogbeh who said when the move first became public knowledge last week, it generated reactions from the people, with some querying what was special about exporting yam while others expressed concern if the move would not amount to food shortage and hunger in the land. While assuaging the minds of Nigerians of the fear of food shortage, Ogbeh disclosed that today, Nigeria would export

72,000 tons of three containers of tubers of yam to the United Kingdom. Reporting that two containers of Nigerian tubers of yams had earlier arrived in New York on June 16, Ogbeh said it was embarrassing that despite being responsible for 61 per cent of yam export in the world, Nigerian yam was yet difficult to come-by in the global market, noting that the remaining 31 per cent of yam export comes from some West African countries and West Indies. “We had cause to tell council that last week, we completed arrangements to carry out the first formal export of Nigerian yams to the United Kingdom... Tomorrow (today), we shall flag off this export in three container loads containing 72,000 tons of

Nigerian yams. Two containers went out in February. One arrived in New York on the 16th of this month,” Ogbeh said. The minister promised that the move would further enhance economic growth and recovery, disclosing how Ghana, a distant competitor in yam export is currently targeting $4 billion earnings from yam in the next four years and insisted that Nigeria, a superior in this regard could not afford to lag behind. Observing that the major challenge facing Nigeria in yam production is the continuous migration of young Nigerians who ought to engage in farming to urban centres, Ogbeh however, assured that the government would embrace mechanised yam production

and as well use solar coolers to preserve produced yams at 14 degree centigrade. Also briefing, the Minister of Health, Professor Isaac Adewole, said the council approved the enlisting of members of Nigeria Youth Service Corps (NYSC) into the National Health Insurance Scheme (NHIS) with the intention to prevent unnecessary deaths among the corps members. Adewole also reported to the council that no case of polio had been recorded in Nigeria in recent times adding that meningitis outbreak which consumed almost 2,000 Nigerians earlier this year has eventually fizzled out. He also said the council had approved voluntary contraceptive services for the country in the next four years.

HONOURING HEROES L-R: Former Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Chief Chamberlain Oyibo;

Event Moderator/Professor of Management Education, University of Lagos, Prof. Aloy Ejiogu; first Managing Director, Nigerian Railway Corporation, Mr. Nat Okoro; and Member of Board, Centre for Values in Leadership (CVL), Isioma Utomi, at the 38th CVL Leader Without Title (LWT) in honour of Okoro @86 and Oyibo @76 in Lagos....yesterday KOLAWOLE ALLI

Jonathan Congratulates Adesina on World Food Prize Award He is our proud export, says Amosun

Former President, Dr. Goodluck Jonathan, has congratulated his former Minister of Agriculture and President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, on his emergence as the 2017 World Food Prize laureate, describing him as a man of exceptional work ethic. The former president defined Adesina as the man who transformed agriculture in Nigeria by introducing several innovations that changed the face of farming, boosted the capacity of farmers and expanded the nation’s ability to feed herself. The media adviser to the ex-president, Ikechukwu Eze in a statement in Abuja yesterday, said Jonathan stated this in a letter of goodwill to

Adesina which the former president personally signed. Jonathan also noted that during Adesina’s years as agriculture minister, staple food prices remained stable, even in the face of serious challenges like the devastating floods of 2012 and the “difficulties occasioned then by global economic recession.” The letter read: “I wish to most sincerely congratulate you for your emergence as the World Food Prize Laureate for the year 2017. “I am not surprised that such a highly prized honour has being conferred on you, given your outstanding and exemplary performance as my former Minister of Agriculture. “I must state that I have met many men in my years on earth, but few have the intellect and

the exceptional work ethic you possess. “During your years as Nigeria’s agriculture minister and driver of my administration’s Agricultural Transformation Agenda (ATA), you introduced several innovations like the e-wallet fertilizer and seed distribution system which cut out the middle man, eliminated corruption and expanded Nigeria’s ability to feed herself. “You oversaw a programme that reduced our food import bill by almost 50 per cent, and working with others in my administration, you helped Nigeria become one of only a handful of nations in the world to reasonably reduce hunger levels between 2011and 2015, according to the International Food Policy Research Institute.”

Also, Ogun State Governor, Senator Ibikunle Amosun, has described Adesina as “a proud export from Nigeria and a good example of Ogun standard.” While congratulating the former minister for emerging the 2017 World Food Prize Laureate, the governor, in a statement, also said the honour is well deserved. Amosun recalled the distinguished and revolutionary leadership of Adesina as Minister for Agriculture in Nigeria, when according to him, he broke the age-long fertiliser cartel that had kept the price of the farm input beyond the reach of the average Nigerian farmer, through the introduction of the e-Wallet system of agricultural input distribution.

THURSDAY, JUNE 29, 2017• T H I S D AY

NEWSXTRA

Refineries: Kachikwu Says over Protectionism Will Lead to Loss of Assets, Jobs Urges oil workers to embrace investments Chineme Okafor in Abuja

the job skills that exist in those areas,” said Kachikwu in his The Minister of State for remarks at the conference. He stated that Nigeria’s oil Petroleum Resources, Dr. Ibe Kachikwu, yesterday, warned and gas industry was in need of that Nigeria’s continued critical infrastructure upgrade, protection of its petroleum and that the government alone refineries in Kaduna; Warri; cannot provide the needed and Port Harcourt, from reforms infrastructure. He stated that: “Infrastructure to improve their productivity would eventually lead to deficit is a key component. We huge job losses and assets’ lack infrastructures, any which way you look; whether it is degradation. Kachikwu explained at a upstream, downstream or gas. conference of the Petroleum And the absence of infrastructure and Natural Gas Senior had made it impossible to Staff Association of Nigeria have holistic private sector (PENGASSAN) in Abuja, participation. “Government is not the one to where he represented Acting President, Yemi Osinbajo, that put in place this infrastructure. once the federal government We have got to find policies and succeeds with its push to have incentives that would encourage more private investors build and private sector participants to key operate refineries in the country, into the infrastructure area.” He also reaffirmed that the three refineries operated by the Nigerian National Petroleum the government has not Corporation (NNPC) could concessioned the three NNPC’s become obsolete and jobs lost. refineries, and that efforts being He further noted that if put in that direction by it would nothing was done to revive the be to get financiers to support refineries, they could become their repairs to get the country obsolete in the next four years. to stop importing petroleum “The reality is that we want products. According to him: “There the private sector players to begin to build their own have been no attempt and there refineries. Whatever it is we is no approval to concession or are protecting would disappear. to sell the refineries. What we Unless we begin to move very have approved is to bring in a rapidly and very quickly to financing mechanism that would position these refineries in such enable us finance, develop and a way that they can compete, upgrade the refineries as they are we would lose the refineries today. In their present epileptic completely, together with all performance levels, they would

become obsolete over the next three, four years.” “My drive is to see that those investment coming go through the transparent process. It would go through the NNPC Board and National Executive Council (NEC). Until that happens, nobody would have been said to be selected. “Nothing in the equation of what we are trying to do is taking away the management of the refineries from the NNPC. Or taking NNPC away from the management. However, we need to bring in funds, we need to bring in best practices, we need to bring

these institutions to work at the level where they are important for this country, otherwise we are losing money,” he added. He further noted: “And the whole idea of continuing to import petroleum products in this country is a shame. And I imagine that all of us feel that shame. “We need to fight anything that prevents us from stopping fuel import. Once that happens, it is going to open a new vista of opportunities.” Speaking on the need to have workers in the sector invest their monies in the various businesses across

the industry’s value chain, Kachikwu said: “Today, I urge you as members of the union, to take the sort of solidarity that you have and sing so passionately about away from just fighting the issues of staff welfare and move into the issue of staff investment. I like to see you begin to participate in the value chains. “How do you become entrepreneurs?Some of you are some of the best brains there are in this sector. How do you make it possible to participate in a way that you can transit from been active players as employees in this

sector to active players as entrepreneurs. Or active players as the ideas people. Because you know all the problems in the industry. Some of you have been here for 20, 30 years, like I have been. You know the areas where the opportunities lie; you know the areas where you can create new ideas.” “I urge you today, as part of the process of this deliberation, to begin to transit from the model of protectionism around welfare and items you are entitled to, to protectionism in terms of opportunities that exist in this sector,” the minister stated.

Crude Rises to One-week High as US Weekly Production Eases Ejiofor Alike with agency reports Crude oil prices rose yesterday to their highest in more than a week despite a surprise build in crude oil inventories, as buyers were encouraged by a small weekly decrease in United States production. The US Energy Information Administration (EIA) said crude oil stocks rose by 118,000 barrels during the week ended June 23, while weekly production declined by 100,000 barrels per day (bpd) to 9.3 bpd. Reuters reported that the production decline also came after US output reached almost 9.4 million bpd during the prior week, the most since August 2015. Global benchmark crude oil was yesterday up 55 cents, or 1.2 per cent at $47.20 a barrel, while US West Texas Intermediate crude oil was up 44 cents, or 1 per cent, at $44.68 per barrel. That was the highest since June 19 for both contracts, which are on track for a fifth straight day of gains for the first time since mid May. Both contracts were up about 5 percent since June 21 when Brent fell to a seven-month low of $44.35 and US fell to a 10-month low of $42.05. Oil rose after the EIA’s

weekly inventory report, even though data showed a build instead of the 2.6 million barrel draw that analysts had forecast in a Reuters poll. Some analysts believe the sell-off was overdone. Head of the world’s largest independent oil trader, Vitol, Ian Taylor, said Brent would stay in a range of $40-$55 a barrel for the next few quarters as higher US production slows a rebalancing of the market. Still, global supplies are still ample despite the output cuts by the Organisation of the Petroleum Exporting Countries (OPEC) and other producing countries of 1.8 million barrels per day (bpd) from January 2017. OPEC and the other producers, trying to reduce a crude oil glut, agreed in May to extend the supply cut through March 2018. Still, crude oil prices have been pressured on rising production from the United States and from Nigeria and Libya, two OPEC members that were exempted from cutting output. OPEC delegates have said they would not rush to cut crude oil output further or end the exemptions, although a meeting in Russia next month is likely to consider further steps to support the market.

ELDER STATESMEN

L-R: Co-Chairmen YIIEGBA, an inter-ethnic coalition, Prof. Anya o. Anya; former Nigeria’s High Commissioner to the United Kingdom, Dr. Christopher Kolade; Afenifere leader, Chief Ayo Adebanjo; and former Minister of Foreign Affairs, General Ike Nwachukwu (rtd) at a rescue mission meeting in Lagos... yesterday

Osinbajo Appoints 14 Chief Executives of Teaching Hospitals Adewole charges them on dedication to duties Senator Iroegbu in Abuja Acting President, Yemi Osinbajo has approved the appointment of 14 Chief Medical Directors and Medical Directors in Teaching Hospitals, Federal Medical Centres and Specialty Hospitals in Nigeria. This was contained in an approval letter signed by the Deputy Chief of Staff to the acting president and addressed to the Minister of Health, Professor Isaac Adewole. Adewole in a statement issued yesterday by the Director, Media and Public Relations, Ministry of Health, Mrs. Boade Akinola, said the appointment which takes immediate effect of four years tenure is in two categories. He stated that five of the appointees would be serving their second and final terms while the remaining nine would

be serving their first tenure. The minister listed the name of the new chief executive officers and their health facilities to include: Professor Bisala Ekele (University of Abuja Teaching Hospital, Gwagwalada); Dr V.A. Osiatuma (Federal Medical Centre, Asaba); Professor Idris Suleiman (Federal Medical Centre, Birnin Kudu); Professor Abdus Musa (Federal Medical Centre, Abeokuta); Dr O.O. Alabi (Federal Medical Centre, Lokoja); Dr Adejuwon Dada (Federal Medical Centre, Ebute-Metta, Lagos); Dr Ibrahim Wakawa (Federal Neuropsychiatric Hospital, Maiduguri); Dr O.C. Ogun (Federal Neuropsychiatric Hospital, Lagos) and Dr Shehu Sale (Federal Neuropsychiatric Hospital, Sokoto). According to him, the five that would serve their second tenure are Professor A.Z. Mohammed (Aminu Kano

Teaching Hospital, Kano); Professor Anthony Igwegbe (Nnamdi Azikiwe University Teaching Hospital, Nnewi); Dr Wiza Inusa (Federal Medical Centre, Jalingo); Dr Joseph B. Okegbe (Federal Medical Centre, Calabar) and Dr Sunday Olotu (Federal Neuropsychiatric Hospital, Uselu, Benin-City). The minister congratulated all the appointees, and charged them to reciprocate the federal government’s gesture by taking their appointment as a call to service. He also advised them to hit the ground running by ensuring that they operate an all-inclusive administration that will promote efficiency, transparency and accountability. Adewole stated further that the Chief Executive Officers are to support the current health agenda of President Muhammadu Buhari

administration which is aimed at achieving Universal Health Coverage. He also reminded them that their health facilities should provide leadership for adjoining secondary and primary health facilities through training and supervision of healthcare services that are rendered. The minister concluded by cautioning the new appointees that government would monitor their performance and not shy away from wielding the big stick should anyone abuse his/her office. In the light of this development, minister charged all the professionals in the health sector to support the new appointees in their health facilities to reposition the sector. He called on them to note that the success of the new administration is the collective success of the Nigerian health workers.

THURSDAY, JUNE 29, 2017• T H I S D AY

NEWSXTRA

Udoma: We’ll Mainstream SDGs into Budgets to Avoid Failure Ndubuisi Francis in Abuja The federal government disclosed yesterday that it has concluded plans to ensure that the Sustainable Development Goals (SDGs) are mainstreamed into the annual budgets at the

federal and state levels to avoid failure as was the case with the Millennium Development Goals (MDGs). The is coming on the heels of reports that African countries, including Nigeria may fail to achieve the SDGs, unless

Premature Explosion Kills Five Suicide Bombers Michael Olugbode in Maiduguri

Five suicide bombers were yesterday killed in Maiduguri by premature detonation of explosives strapped on them. The five suicide bombers, two males and three females, according to a security source who spoke on account of anonymity with THISDAY, were killed by a premature detonation of the explosive strapped on one of them, which led to the death of the whole group. According to the source, the five had explosive strapped on them and the premature explosion of one led to a spiral of explosion that was greeted by a loud bang. The source said the suicide bombers tried to sneak into Maiduguri on Tuesday night through Mamanti village around Jiddari Polo at about 7p.m. The security source in a text message to THISDAY, said: “Sequel to a loud explosion ahead of Mamanti village

around Jidari Polo general area on June 27, 2017 at 1900hrs, soldiers in conjunction with CJTF deployed at Jiddari Polo conducted patrol in the early hours of today (Wednesday). “During the patrol, dead bodies of five suicide bombers; two male and three females, were discovered about four kilometres ahead of Mamanti village. “One of the bodies was mutilated following a detonated IED while others were still fresh with injuries and IEDs strapped on their bodies. Their target was Maiduguri Metropolis, but before the suicide bombers could infilterate the town, one of the IEDS exploded which killed all five suicide bombers.” Attempts to get confirmation from the police at the time of filing this report yesterday evening was unsuccessful. The spokesman of the Borno Police Command, Victor Isuku, did not respond to enquiries sent to his mobile line.

Customs, Rice Farmers Sign MoU to Stop Rice Smuggling The Nigeria Customs Service and the Rice Farmers Association of Nigeria (RIFAN) have signed a Memorandum of Understanding (MoU) to stop rice smuggling through land border into the country. Alhaji Aminu Goronyo, President Rice Farmers Association of Nigeria (RIFAN), disclosed this yesterday in an interview with the News Agency of Nigeria (NAN) in Abuja. He said even though the importation of rice through the land borders was banned since April 2016 with an extension to the restriction of rice into the Nigerian market from the Export Processing Zones (EPZ), yet smugglers still engaged in the unwholesome act. Goronyo warned Nigerians against the consumption of foreign rice, saying that most of the imported rice is stale and only meant for animal and fish feeds. He said result of test by NAFDAC through some samples of some of the rice seizures had ascertained that smuggled rice through the land borders was unfit for human consumption. “99 per cent of rice smuggled through the land borders are not fit for human consumption,” he said. Goronyo said that the Comptroller-General of Nigeria

Customs Service, Col. Hameed Ibrahim Ali (rtd), reiterated recently at a joint meeting with RIFAN and customs that rice importation remain banned through the land borders. The RIFAN President said to ensure effective monitoring of the land borders, the ComptrollerGeneral has approved a 12-man implementation committee to be headed by Assistant ComptrollerGeneral, Alino Dangaladima. He said customs promised to continue to ensure the restriction of rice import through the land borders to boost local production. He said the comptroller-general agreed that there was need for total ban on rice importation and effective monitoring of the land borders to stop the activities of the smugglers. The RIFAN president added that the customs boss reinstated that any attempt to import rice through the land borders would be resisted, saying the position remain unchanged. He said the customs told them that it had deployed more officers and men to borders to enforce the order. According to him, customs had also re-organised its antismuggling patrols to provide additional capability, to enforce the ban of rice import through the land borders.

concrete steps are taken towards holistic policy implementation. The Minister of Budget and National Senator Udoma Udo Udoma, said Nigeria, like many other African countries, failed to reach the targets of the United Nations (UN) Millennium Development Goals (MDGs) due to the region’s over-reliance on foreign aids. Udoma spoke in Abuja at a high- level policy dialogue on development planning in Africa, organised by the United Nations Economic Commission for Africa (UNECA). Represented by the Permanent

Secretary in his ministry, Mrs. Fatima Nana, the minister noted that although Nigeria made progress in achieving some of the MDGs, it could not meet the expectations, because of lack of political would to implement policies. “We have not made as much progress as we had hoped for partly because of poor implementation mechanisms and excessive reliance on development aid,” he said. He blamed the major issue stalling sectoral development in Nigeria on data management. According to him, lack of

proper data collation and management has impeded economic planning not only in Nigeria, but as well as in other African countries. “Another factor is the failure of many African countries in main-streaming the MDGs into their national economic plans, policies and budgets. Added to these is the fact that many African countries lacked relevant data and mechanisms to monitor progress,” he said. To avoid failures on the implementation of the SDGs, the minister said that Nigeria government has concluded

plans to ensure that the SDGs are main -streamed into the annual budgets at the federal and state levels. “Let me also inform you that concerted efforts are being made to ensure that SDGs are main -streamed into the annual budgets at the federal and state levels. “Other actions we have taken in ensuring effective main -streaming the SDGs in our national plans include: raising public awareness and applying multistakeholders approaches,” he added.

STATE INTERVENTION

L-R: Lagos State Commissioner for Environment, Dr. Samuel Adejare; Secretary to the State Government (SSG), Mr. Tunji Bello; and Commissioner for Local Government and Community Affairs, Alhaji Muslim Folami, during the state government’s meeting with Oke Odo Market leaders at the Lagos House, Ikeja....yesterday

NIS Recruitment: Court Frowns at EFCC’s Shoddy Prosecution of Abba Moro, Others Alex Enumah in Abuja A Federal High Court in Abuja yesterday expressed its reservation over the shoddy manner in which the prosecution is handling the trial of a former Minister of Interior, Abba Moro and three others over their alleged complicity in the 2014 recruitment exercise that claimed the lives of several persons. Trial judge, Justice Nnamdi Dimgba, who expressed displeasure at the attitude of the prosecution, said the lack of seriousness was unbecoming of a prosecution counsel. Moro, alongside then Permanent Secretary of the Ministry, Anastasia DanielNwobia; a Deputy Director in the ministry, Felix Alayebami; and the contracting firm given the recruitment job, Drexel Tech Nigeria Ltd, are standing trial for their roles in the botched March 15, 2014 immigration recruitment exercise that killed no fewer than 20 job seekers across the country. At the resumed trial yesterday, prosecuting counsel, Elizabeth Alabi, who held brief for Yusuf Aliyu, told the court that the fourth prosecution witness was unavoidably absent in court.

“He is a subpoenaed witness based in Lagos, because of the public holidays we could not have audience with him. We urged your lordship for a new date,” she told the court. Responding, the judge said the holidays would not have been an excused if the counsel had done a proper homework. “You ought to arrange your case accordingly, despite the holiday. If I strike out the case for lack of diligent prosecution you will raise all kind of hell. The press would feast on it, probably accuse me of collecting money. And we have no way to reply. If next time the prosecution is not ready, I will know what to do, “ Dimgba said. Moro’s counsel, Chief A.T. Kehinde (SAN), opposing the request for adjournment stated that the action does not show seriousness on the part of prosecution counsel. He urged the court to take note that the case was adjourned 42 days ago, which was enough time for the prosecution to prepare its witness. Chief Chris Uche (SAN), counsel to the second defendant observed that if the defendants were the one asking for adjournment it would be

a different thing in the media. “When it was adjourned in May, they said they have witnesses. Assuming they were unable to bring one, what of the other witnesses. I want the court to take judicial notice that they are the one delaying that case. T. C. Ikpe and Sunday Ameh, counsel to the third and fourth defendants aligned themselves with the submissions of Kehinde and Uche, lamenting that at the last adjourned date, it was the prosecution that moved the same application due to the absence of the witness. The court however, adjourned till October 4 for continuation of trial. This according to the judge is to give one more chance to the prosecution witnesses it otherwise the prosecution closes its case. The Economic and Financial Crimes Commission (EFCC) had accused the defendants of defrauding 676,675 Nigerian applicants of N676,675,000. Each of the 676,675 applicants were charged N1,000 each for the participating in the recruitment exercise. The anti-graft agency is also accusing the defendants of flouting the Public Procurement Act, No. 65 of 2007 in the

award of the contract for the organisation of the recruitment test to Drexel Tech Nigeria Ltd. The EFCC said Drexel EFCC had no prior advertisement and no NEEDS assessment and procurement plan was carried out before the contract was awarded. According to the anti-graft agency, the contract was awarded through selective tendering procedure by invitation of four firms without seeking the approval of the Bureau for Public Procurement, contrary to sections 40, 42 and 43 of the Public Procurement Act, No. 65 of 2007 and punishable under section 58 of the same act. Drexel is also alleged to be unregistered and had no legal capacity to enter into the said contract. There is also said to be no budgetary provision for the exercise in the 2014 federal capital budget hence the applicants were made to bear the responsibility of funding the project without approval of the Board contrary to section 22(5) of the Independent Corrupt Practices and other Related Offences Act 2000, the charge said.

THURSDAY, JUNE 29, 2017• T H I S D AY

NEWSXTRA

CAN Condemns Those Creating Tension, Division Among Nigerians PFN chairman faults Nnamdi Kanu, pro-Biafra groups John Shiklam in Kaduna and Christopher Isiguzo in Enugu The Christian Association of Nigeria (CAN) in the 19 northern states and the Federal Capital Territory (FCT) yesterday condemned in strong terms what it described as “the latest display of lack of nationalism by some groups and individuals from some sections of the country. The religious body, in a statement issued in Kaduna at the end of its emergency meeting with the chairmen and secretaries of state chapters as well as the youths and women wings of the association, noted that while groups and individuals were free to agitate for whatever rights for the growth and progress of their people, such agitations must not create tension and division among Nigerians. The statement signed by the chairman of the association Rev. Yakubu Pam and the Public Relations Officer, Rev. Joseph John Hayab said Nigeria’s unity should be consider the unity of the country above sectional interest. The statement urged the government to, as a matter of urgency consider the best ways to address the issues causing the agitations by revisiting the last report of the 2014 National Conference. The statement reads: “We also wish to make it clear that we are stakeholders in the region called ‘North’ or ‘Arewa’. We, therefore, condemn the hasty and ill-informed display of lack of thoughtfulness by a group by the name ‘Arewa youths’ and their sponsors asking Igbo

to leave the north of Nigeria with a timeline. “Let the world know that we disassociate ourselves from this call, and after consultation with Christian youths across the region of northern Nigerian (Arewa) they too, have condemned the pronouncement in the strongest term and disassociate themselves from the so called group. “We support government and all groups that have publicly condemned this act and any other divisive call by any group in this country. “We are appealing to all the Igbo living and undertaking businesses in the North to keep calm and not be daunted, but instead, should strategise how to expand their businesses and services in the region. “They are fellow Nigerian citizens whom we love so dearly and appeal to them to consider the utterances and actions of the so-called ‘Arewa youths’ as an aberration, and not a northern collective standpoint in any way. “The government must also ensure the protection of all Nigerians wherever they choose to live in this great country. In addition, we call on all Nigerians to desist from threatening one another as we should be our brothers’ keepers. Without a doubt, nations are built and sustained by unity, not division... “Finally, we, CAN 19 northern states, caution all those who are beating the drums of war to recognise that they are doing so for themselves because the equation of this country today has changed from that

of 1967, and no one is ready and willing to sacrifice his/her life for an agenda that is not worth the expense such as that the agitators have contrived. We call on all and sundry to talk and walk for peace for the betterment of our dear fatherland.” The Chairman of the Pentecostal Fellowship of Nigeria (PFN), Enugu State chapter, Rev. Godwin Madu, has faulted the radical approach used by the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, to agitate for the marginalisation of the southeastern zone of Nigeria, insisting that such approach was not in the best interest of the Igbo nor Nigeria generally. Madu, who spoke shortly after a special prayer meeting for peace in the country, organised by the Enugu PFN at the Redeemed Christian Church of God (Province of Excellence), Enugu, advised the IPOB leader and his group, as well as other pro-Biafra organisations to settle down and work on dialogue

rather than engaging in activities that could “heat up the polity.” He said: “Nigeria is good as a country. Anywhere we feel aggrieved, the matter could be addressed amicably instead of heating up the polity and creating unnecessary tension in the entire country,” he said. In a related development, the PFN Chairman also appealed to Arewa youths to quickly sheath their sword and sue for peace since violence and crisis cannot benefit anybody. He told the northern youths that Nigeria has no particular landlord, hence no tribe was empowered by the Nigerian Constitution to issue quit notice to any other ethnic group. But a member of the state PFN, Nelson E. Israel, called upon the Igbo in the North not to take the threat by Arewa youths as an empty one, emphasising that “out of the abundance of the heart, the mouth speaks.” Nelson, who claimed that he has three blood relations resident

in the Nasarawa, Kaduna and Abuja, advised the Igbo to leave the North before the end of August 2017, insisting that they should not wait for September to end in order to avoid rush. “The Arewa youths have discussed the matter and they are not joking about it. If anything happens to the Igbo there, they will say but we told you; we gave you three months and you didn’t comply,” he said. He said he had communicated his relations in the North on the need to take the threat from northern youths serious. Earlier during the prayer session, 36 persons representing the 36 states of the federation were called to the podium, to offer fervent prayers for God to usher peace to reign in the country, and bring to shame the trouble makers in the land. While emphasising the efficacy of prayers in matters like the current tension in the country, the PFN said it was opposed to the

quit notice given by the northern youths to the Igbo resident in the north, stressing that a “lot of souls had been wasted through needless hostilities as the blood of the innocent is crying to high heavens.” A founding member of the body, Dr. Obi Onubuogu stressed the need for dialogue as the main key to solving the nation’s current problem, and enjoined the Igbo to love themselves and remain united to be able to face challenges confronting them. Also, former secretary of the state PFN, Pastor Joseph Ajujungwa, called for peace and unity among the Igbo, noting that the prayer meeting became necessary because the PFN was against AREWA youths’ quit notice which “is unacceptable to the PFN.” Secretary General of the body, Rev Noble Oji, said it was only God that would bring peace in the country, and advised the Christians to be prayerful.

Utomi Appointed Chairman of Goddy Jidenma Foundation PRODUCT PROMOTION L-R: Brand Manager, Pepsodent, Unilever Nigeria, Ogechukwu Anozie; Wife of Unilever Global CEO, Kim Polman; Head Prof. Pat Utomi has emerged as the third Chairman of Goddy Jidenma Foundation. He was unanimously appointed the Chairman following the most recent Board of Trustees meeting of the foundation held in Lagos. Utomi is a well known public intellectual. He is a founding Senior Faculty of the Lagos Business School-Pan Atlantic University where he was the Director of the Centre for Applied Economics. He had earlier on served in senior positions in government as an Adviser to the President of Nigeria; the private sector as the Chief Operation Officer of Volkswagen of Nigeria. He is the author of several management and public policy books including the award winning ‘Managing Uncertainty: Competition and Strategy in Emerging Economics, 1998’ and the 2006 book ‘Why Nations Are Poor’. Prof Utomi has inspired many across generations in Nigeria to make positive contributions to their country. He lives what he

teaches and preaches, serving as a Business Angel to many start-up companies that have since grown from their modest beginnings to iconic stature. He was the candidate for President of Nigeria in 2007 and 2011. He took over the Chairmanship of the BOT of GJF after the demise of Chief Bola Kuforiji-Olubi, who had served as the foundation’s Chairman when the premiere Chairman, Prof. Ben Nwabueze (SAN) retired in December 2015. He had variously served as a trustee and vice chairman.

Utomi

Teacher, Ikeja Central Primary School, Paul Polman Kate Ukandu; and Tosin Saraki, at the Pepsodent Schools Programme in Ikeja Central Primary School, Ikeja, Lagos.....yesterday

We’re Not Expelling Anyone from Kano, Says Ganduje Says Sanusi’s matter amicably resolved Onyebuchi Ezigbo in Abuja Kano State Governor, Dr. Abdullahi Umar Ganduje, has said the state has nothing to do with the recent quit notice given to the Igbos living in the northern part of the country by some northern youth groups. He said the state adopted a policy that would check such separatist campaign by abolishing the non-indigene syndrome adding that under the policy “everybody now is an indigene of Kano.” When asked how Igbos living in Kano are responding to quit notice order by some northern youths, Ganduje said: “Nobody is quitting in Kano,

they (Igbos) said they are not going anywhere and we too we told them that they are not going anywhere.” The governor said Kano has been an example of national integration, even though there are some indigenes still holding primordial claims. “So it is an issue that we in Kano want to show to be an example of national integration, therefore, in Kano we are dialoguing with the people and in fact we have even abolished the issue of indigenes versus settlers. Everybody in Kano is an indigene of Kano but there are some indigenes of Kano with primordial claim elsewhere which is a fact.”

Speaking to journalists yesterday at the national secretariat of the ruling All Progressives Congress (APC), after the meeting of the APC governors and National Working Committee (NWC) of the party was rescheduled, Ganduje said there was no cause for alarm regarding the tension created by the agitations. Thee governor who also commented on the recent face-off with Emir Sanusi, said: “I’m not aware of any compromise by the state Assembly but I know that I personally wrote to them, asking them to discontinue the investigation because of so many requests by some

highly placed individuals in the country. “Clearly, the reasons were mentioned in the letter to the state assembly and was widely published in the national daily. We just had a successful Sallah celebration and it was peaceful. Earlier, the Chairman of the APC Governors’ Forum and the Imo State Governor, Rochas Okorocha, had told journalists that the meeting with the NWC has been postponed till tomorrow. He explained that the reason for the shift was due to the communication gap occasioned by the long period of Ramadan holiday.

THURSDAY, JUNE 29,2017• T H I S D AY

NEWSXTRA

Court Grants SERAP Permission for Judicial Review of Spending of Paris Club Refunds Federal High Court sitting in Lagos has granted the Socio-Economic Rights and Accountability Project (SERAP) leave to apply for judicial relief and to seek an order of mandamus directing the government to publish details of spending of N388.304billion London Paris Club loan refunds allegedly diverted and mismanaged by 35 States.” Justice Muslim Hassan ruled that SERAP could proceed with the legal challenge to unravel how exactly 35 states spent Paris Club loan refunds. He, while granting leave, stressed that it was important for the authorities “to come and tell us how they spent our money.” The order granting leave by the court followed the hearing of an argument in court on exparte motion by SERAP counsel, Ms Bamisope Ibidolapo. The order by Justice Hassan has now cleared the way for SERAP to advance its case against the federal government and state governors. The motion on notice is set for September 14, 2017, for the hearing of argument on why the government should not be directed and compelled to publish details of projects on which the Paris Club loan refunds were spent. The suit number FCH/ CS/523/17 filed in April sought “an order to compel the Accountant General of the Federation Ahmed Idris, to compile and pass on to the Attorney-General of the Federation (AGF) and Minister of Justice, Abubabar Malami, information relating to the release and spending of N388.304billion London and Paris Club Loan refunds to

the states.” SERAP is also seeking an order “for the AGF to use the information on the spending by the 35 states to initiate legal action against the states that allegedly diverted and mismanaged the funds with a view to compelling the states to widely publish, including on a dedicated website, details of spending of the funds by them.” The suit read in part: “The orders sought are necessary to know exactly what happened to the Paris Club refunds, and the release of the information including on a dedicated website would be deemed incidental to the power of the federal government to achieve effective implementation of anticorruption legislation, and will not amount to interference with activities within the states involved. “The applicant argues that allegations of corruption and mismanagement of N388.304 billion London and Paris Club loan refunds by states have undermined the human dignity of workers and pensioners facing difficult circumstances that deprive them of their capacity to fully realise their internationally recognised economic and social rights. “The allegations of corruption in the spending of the London and Paris Club loan refunds have also exacerbated poverty, social exclusion, and violated the government’s obligation to use its maximum available resources to fully realise the right of all persons especially workers and pensioners who are the most vulnerable sectors of the population.” It added: “The federal government has a constitutional and statutory obligation to contribute to the eradication of corrupt practices and

Evans Sues IG, Lagos CP, for Breach of Fundamental Rights Suspected kidnapper, Chukwudumeme Onwuamadike (Evans), has filed a fundamental rights enforcement suit to compel the Inspector-General of Police (IG), Ibrahim Idris, the Lagos State Police Commissioner, Mr. Fatai Owoseni, and the Nigeria Police Force (NPF) to either charge him to court immediately or unconditionally release him from custody. In a motion ex-parte filed before the Federal High Court, Lagos yesterday by his lawyer, Olukoya Ogungbeje, the suspect claimed that he has been detained by the police since June 10, 2017 and subjected to media trial and parade without any court order. He listed the IG, Owoseni, the NPF and the Special Anti-Robbery Squad, Lagos Command, as respondents in the suit. The suspected kidnapper said there has been grave constitutional infraction perpetrated by the respondents against him as he ought to

have been charged or arraign before a court in accordance with Section 35 and 36 of the 1999 Constitution. The applicant also said he has the rights under Section 46 of the 1999 Constitution to approach the court for redress for the breach of his fundamental rights. However, in a 27-paragraph affidavit attached to the application and personally deposed to by Evans’ father, Stephen Onwuamadike, the father claims that he and other family members have been denied access to the applicant who is still in the custody of the respondents. He also claimed that his solicitor has been denied access to the applicant. He insisted that the parade of the applicant before journalists has continued to generate reactions without the applicant being afforded fair hearing and trial before a court of law. The fundamental rights enforcement suit is yet to be assigned to a judge and no date has been fixed for its hearing.

abuse of power, ensure proper organisation and maintenance of all information in its custody in a manner that facilitates public access to such information, and make readily this available to applicants whenever it is sought. “Since the receipt of SERAP’s letter dated March 17, 2017, and up till the filing of this suit, the government has so

far failed to pass on to the AGF , information relating to the release and spending of N388.304billion London and Paris Club Loan refunds to 35 states by the federal government for appropriate legal action against the states.” SERAP, among others, is therefore seeking a declaration that the failure of the respondent

to urgently compile and pass on to the AGF, information relating to the release and spending of N388.304billion London and Paris Club Loan refunds to 35 States by the federal government, so that the AGF can take steps to initiate legal action against the states that allegedly diverted and mismanaged the funds with a view to compelling the states

to widely publish, including on a dedicated website, details of spending of the funds by them is unconstitutional and unlawful as it contradicts and in conflict with the duties and obligations of the respondent under the 1999 Constitution (as amended), the Corrupt Practices and Other Related OffencesAct 2000 and the Freedom of Information Act 2011.

PARTNERSHIP L-R: Operation Manager, OLX, Patricia Duru; Group Head, lndustry and Retail Chains, lnterswitch, Paul Ohakim; Senior Manager, Business Development, OLX, Mayokun Fadeyibi; and Unit Lead, SME/Online, OLX, Esther Ransome-Kuti, at the OLX lnterswitch press conference on business partnership n Lagos....yesterday Abiodun AjAlA

Don’t Shift Osun West Poll, Sheriff Warns INEC

Onyebuchi Ezigbo in Abuja

The Senator Ali Modu Sheriffled Peoples Democratic Party (PDP) has asked the Independent National Electoral Commission (INEC) not to postpone the Osun West senatorial by-election slated for Saturday July 8. In a statement issued yesterday by the spokesman of the party, Hon Bernard Mikko, PDP said there are “subterranean efforts by the government of Osun State to precipitate the postponement of the Osun West senatorial by-election from Saturday July

8, to an ostensibly preferred and predetermined date.” The statement referred to a meeting of stakeholders last week at the Osun West senatorial headquarters in Iwo, where Mr. Emmanuel Ademusire who is the INEC state Director of Administration assured all the political parties that the July 8 date for the Osun West senatorial byelection was irrevocably sacrosanct. It also quoted the INEC scribe as saying that they had deployed five commissioners to oversee the election. “We are therefore constrained

to warn that any attempt to yield to the antics of these undemocratic forces using spurious or fake security report as an excuse will not be tolerated. “Nigerians are sufficiently enlightened to understand the antics of desperate politicians that may want to use their privileged positions to undermine our electoral process and put our democracy in peril. “The legitimacy of our leaders is hinged on a credible, fair and transparent electoral process and once the confidence of the electorate is lacking

in the electoral umpire, our hard earned democracy will be in jeopardy. “While it is our hope that the electoral body will not yield to any subterranean blackmail to shift the date of the election from Saturday July 8, it has become imperative for civil society organisations, pro-democracy activists, election monitoring groups and members of the diplomatic community to be vigilant and ensure that all stakeholders abide by the rules and refrain from changing the goal post at the middle of the game,” Mikko said.

UNN: Platform Petroleum Inaugurates Ultra-modern Multi-purpose Building Platform Petroleum Limited, an indigenous oil and gas exploration and production company yesterday inaugurated and handed over an ultramodern building to the Geology Department of the University of Nigeria, Nsukka. The event had Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, as special guest. He was joined by other distinguished guests, including Chief Dumo LuluBriggs, Chairman of Platform Petroleum, Dr. ABC Orjiako, Chairman of SEPLAT, Professor O. Sylvester Adegoke, Dr. Bolaji Ogundare, Managing Director, Newcross and Dr. Edmund M. Daukoru, among others.

The edifice named Austin Avuru Building was built and donated to the department in honour of Mr. Austin Avuru, first Chief Executive Officer (CEO) of Platform Petroleum Limited and current CEO, SEPLAT Petroleum Development Company Plc who graduated from the department in 1980. A statement signed by Mr. Amaechi Moshe C. I., Acting GMD, Platform Petroleum Holdings Limited, said the facility “which is the first CSR initiative by Platform Petroleum Limited outside of its Umutu, Delta State, operation site came out of the desire of the company to support Avuru’s desire to reduce the huge infrastructural

deficit at his alma mater.” He noted that “things had gotten so bad at the Department of Geology to the extent that it was about to lose its academic accreditation.” The new building, according to the statement, is larger and more conducive than the old departmental building and will provide office space for lecturers as well as laboratories and lecture halls for students. The gesture by the company is a reiteration of Platform Petroleum Limited’s commitment to creating value for the larger good of the society and the company is excited that the provision of this building will enhance quality of education for the staff and students of

the Department of Geology. The Vice Chancellor of the University, Prof. Benjamin Chukwuma Ozumba, praised the company for the support and congratulated Avuru for being a worthy ambassador of the institution. He assured his guests that the university will justify the resources invested in the new building. He also enjoined other alumni to emulate Avuru and Platform Petroleum in helping to enhance the learning environment. Also speaking, Kachikwu also an UNN alumnus, commended Platform Petroleum Limited for investing in the future of the country.

T H I S D AY THURSDAY JUNE 29, 2017

T H I S D AY • THURSDAY, JUNE 29, 2017

THURSDAYSPORTS

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

Nigeria’s Oldest Football Competition Becomes AITEO Cup Duro Ikhazuagbe Nigeria’s oldest football competition, the Federation Cup, yesterday secured the sponsorship of energy solution company, AITEO, after many years without any corporate support. The competition from the 2017 edition will henceforth be known as the AITEO Cup. The acquisition of the naming right of the Federation Cup also formerly called the Challenge Cup, is an extension to the agreement the oil and gas giants entered with the Nigeria Football Federation (NFF) when its became its Technical Partner in April. Accordingly to the sponsorship agreement, for the 2017 season, the prize monies for the AITEO Cup will be N25million for the winner of the men’s competition and N10million for the winner of the women’s competition. The runner-up for the men’s competition will pocket N10million, with the runner-up for the women’s event going home with N5million. Speaking at the signing of the MoU yesterday at AITEO’s corporate headquarters in Lekki, Lagos, NFF President, Amaju Pinnick, commended the Aiteo Group for the partnership. “We want to celebrate and thank Aiteo for this wonderful gesture. This sponsorship will go a long way in turning around the fortunes of the Cup competition which is the oldest football tournament in the country.” AITEO’s Deputy Managing Director, Francis Peters, said: “We are happy to do this for Nigeria.” Other top AITEO chiefs at the event include; Group Executive Director/ Chief Legal Counsel, Mr. Andrew Onyearu; Senior Vice President, Commercial and Gas, Mr. Victor Okoronkwo; and Senior Manager,

Corporate Communications, Mr. Ndiana-Abasi Matthew. Apart from Pinnick, also present at the brief ceremony from federation’s Glass House in Abuja were; NFF’s First Vice President/Chairman, Organising Committee, Seyi Akinwunmi; NFF’s Second Vice President/ LMC Chairman/Chairman, Marketing, Sponsorship and Television Advisory Committee, Shehu Dikko; Chairman of NFF Committee on Ethics and Fairplay, A. U. Mustapha; Member, NFF Executive Committee/Chairman, Nigeria Women Football League, Aisha Falode and Director, Media and Communication, Ademola Olajire The duration of the sponsorship is five years, similar to the main agreement signed on April 26, 2017. The arrangement will see AITEO underwrite the costs of the organisation of the competition which encompasses the costs of organising the AITEO Cup from the Round of 64 to the men and women’s finals, solidarity support to Football Associations of the 36 States and the FCT, expenses and indemnities of match officials, support to participating Clubs, Media, Branding/Activation and Prize Money to winners. Spokesman of the NFF, Olajire, hinted that further details of all the benefits of the extended agreement will be unveiled at a press conference soon. The competition started as the Governor’s Cup in 1945 before it was changed to All Nigeria Challenge Cup in 1955. In 1996, it became the Coca cola FA Cup. Following the withdrawal of the soda bottling company from the sponsorship of the competition and the change of the nomenclature of the association to NFF, the tournament was for the fourth time changed to Federation Cup.

GTBank Masters Cup Final Holds Today The 2017 edition of the GTBank Masters Cup will reach its climax today at the Onikan Stadium, Lagos, as Queens Queens College, Yaba takes on Ansar-Ud-Deen Girls High School, Itire in a repeat of the 2014 finals. In the male category, two-time winners of the competition, Anwar-Ul-Islam College, Agege will face arch-rivals St. Finbarr’s College, Akoka. The GTBank Masters Cup is

an annual football competition for first generation and private secondary schools in Lagos. Commenting on today’s finals, the MD/CEO of Guaranty Trust Bank plc, Segun Agbaje, the MD/CEO of Guaranty Trust Bank plc, said “We are proud to lead this initiative that provides an avenue for students to showcase their talents and passion for the game of football even as they remain committed to their academics.”

RESULTS NPFL MATCH DAY 26 Wikki 1-0 Lobi Stars BET9JA NNL ABS FC 1-1 Kano Pillars Rangers 1-0 Ifeanyi Ubah Katsina Utd 1-0 Tornadoes Remo Stars 2-2 Akwa Utd Enyimba 4-0 ElKanemi Plateau Utd 1-0 Nasarawa Gombe 2-1 Abia Warriors MFM FC 2-1 Sunshine Stars

Nigeria Women League

FC Robo 0-0 Abia Angels Ibom Angels 0-1 Sunshine Queens Rivers Angels 2-0 Heartlnd Queens Saadatu Amazon 1-2 Pelican Stars

Gateway 2-0 Delta Force Osun Utd 0-0 Akwa starlets Kaduna United 1-0 Taraba Jigawa 2 - 0 Zamfara FC Sokoto Utd 2 - 0 Yobe Stars Heartland 1-0 Insurance Nnewi Utd 3-0 FirstBank Kogi United 1-0 FC Abuja Go Round 0-0 Crown FC (postponed due to rain)

Nigeria Football Federation (NFF) President, Amaju Pinnick (4th left), congratulating the Deputy Managing Director of the AITEO Group, Francis Peters (4th right), shortly after signing the MoU on the new AITEO Cup (formerly Federation Cup) in Lagos yesterday. They are flanked to the right and left by other executives from the NFF and the AITEO Group

FIFA Confed Cup: Bravo Chile! Chile goalkeeper Claudio Bravo saved three successive penalties to give them a 3-0 shootout win over Portugal after their FIFA Confederations Cup semifinal had ended goalless last night in Russia. Just as it happened in 2015 and 2016 Copa America when the matches deadlocked after goalless regulation times against Argentina, Chile snapped victory from Portugal to become kings of shoot out last night. Bravo stopped Portugal’s first three spot kicks from Ricardo Quaresma, Joao Moutinho and

Nani while Chile converted their first three kicks to win the clash of South American and European champions. Arturo Vidal, Charles Aranguiz and Alexis Sanchez scored all Chile’s three goals. The result was justice for Chile after they hit the woodwork with two successive shots in the dying seconds of extra time. There was also controversy shortly before that when Chile winger Alexis Sanchez went down in the box under a Jose Fonte tackle but the referee did not consult the Video Assistant

Bravo… hero of the Chilean team Referees (VARs), even though contact seemed to be made. Chile is to play the winner

of the second semi final tonight between Germany and Mexico on Sunday.

Amazing Ikoyi Club 1938 Young Swimmers Win in Germany With 42 gold, 39 silver and 35 bronze medals, a team of young swimmers from Ikoyi Club 1938 finished top of the table at the just concluded 46th International Swimming Competition in Neheim-Husten, Germany. Ikoyi Club 1938 defeated competitors from 35 other clubs from seven countries to emerge champions. The swimmers also returned home with several certificates and trophies for outstanding performances in different categories. Many swimmers also attained personal best times in their events. The top five medallists were Abduljabar Adama (8 gold, 1 silver), Chukwudi Kanu (6 gold, 5 silver), Maria Perner (5 gold, 4 silver, 1 bronze), Kayo Adeniji (5 gold, 3 silver) and Iman Adama (3 gold, 4 silver, 1 bronze). The Chairman of the Swimming Section, Ikoyi Club 1938, Mr. Abayomi Ogundipe, commended the young lads saying: “Their exceptional performance and conduct qualifies them as good

The young Ikoyi Club swimmers in a group photograph at the end of competition in Germany ambassadors of Ikoyi Club 1938, their various schools, and Nigeria in general.” On his part, the Vice chairman/Games Captain of the Swimming Section at Ikoyi Club, Oloyede Obatoyinbo, said that he was particularly proud of the girls and boys relay teams. While the girls came first in the 4x100m Freestyle Relay, the boys finished second in the Medley Relay team.

The swimmers who participated in the Boys Freestyle Relay were Adewole Adekoya, Akaolisa Nweze, Toluwalase Magbagbeola, and Olaseni Adekeye all of who achieved sub 1.10:00. They are 13 years of age. The Girls Freestyle Relay team included Chiamaka Kanu, Iman Adama, Layomi Odusanya and Maria Perner. The Boys Medley Relay team included Adewole Adekoya, Akaolisa Nweze, Luka

Okoli, and Olaseni Adekeye. Obatoyinbo said that given the times the swimmers (age 9-13 years) achieved; the future of swimming in Nigeria is very promising. The Coaches of Ikoyi Club 1938, Pius Adegboye, Barakumo Loya and Tough Atelemo were proud of the team, just as they commended Ikoyi Club 1938 for showing the way for others to follow in Nigeria.

Thursday, June 29, 2017

UT H

& RE A S O

Price: N250

MISSILE Sani Bello to Security Agencies

“We spend a lot of money on security but we do not have a safe environment. In Niger State, we spend N100 million every month on security and I am sure that if we spend a fraction of that money on traditional rulers, we will get better results…There is a new wave of kidnapping, murder, armed robbery and clashes. It is a new wave that seems to be engulfing the state” – Governor Abubakar Sani Bello, on the growing insecurity in Niger State.

OLUSEGUNADENIYI THE VERDICT

olusegun.adeniyi@thisdaylive.com

The Looming Demographic Disaster

United Nations (UN) population estimate released last week reaffirmed earlier projection that Nigeria is set to overtake the United States in population by 2050. Titled, “2017 Revision of World Population Prospects”, the UN report added rather ominously that the concentration of population growth in the poorest countries will pose a challenge of improving healthcare, education and equality to end poverty and hunger in most of the developing world. While that inevitable conclusion is ordinarily worrisome, one issue hardly ever discussed in our country is population control; not only because we like to live in denial about what ails us but also because once we cloak an issue in the garb of religion, we make it almost a taboo for any serious engagement. That explains why when the Emir of Kano, Muhammadu Sanusi II, recently advocated that men should be compelled to fulfil certain conditions before they can qualify for polygamous marriages, all hell was let loose. Yet, in the light of a population explosion that is becoming a serious national security problem, the prescription by the emir is worth discussing. Men who are not capable of maintaining one wife, yet marrying four, according to Sanusi, most often end up with many children that become nuisance to themselves and the larger society. From Lagos to Enugu to Port Harcourt to Maiduguri to Kano and Jos, we see evidence of this state of affair on our streets almost on a daily basis. Many of the children in this unfortunate situation were fathered by men who believe their responsibility begins and ends with impregnating a woman. Determined to change the situation, especially within his domain, Emir Sanusi explained the structure he has already instituted. “As I speak, in the palace in Kano, a sub-committee of scholars, which I set up and has been working for about a year, is finalising the final sections of a family law we intend to introduce in Kano. The law will address what Islam says on marriage, it will outlaw forced marriages, it will make domestic violence illegal, it will put in conditions that you need to fulfill before you can marry a second wife, it will spell out the responsibilities of a father beyond producing a child. It is a big law which covers a whole range of issues from consent to marriage, to divorce, to maintenance of children and inheritance. It will be the first time in northern Nigeria that a Muslim law on personal status will be codified,” said Sanusi. In a society where hypocrisy is a national ideology, it was easy for Sanusi to be crowded by a cacophony of voices, even when the fact remains that it is the poor segments of our population that account for majority of the children that have been left without much prospects in life. That then explains why even when the number of poor people continue to decline in other regions of the world, Nigeria and other sub-Saharan African

Sanusi countries currently account for half of the global poor, according to World Bank reports. Before going further, let me quickly dispel the notion that this is a class issue or that I am canvassing that poor people should be denied the number of children they desire. As son of a village carpenter who understands the full meaning of poverty, I subscribe to the argument of Zina Jayne, a mother of three who, in a recent piece, defended the reproductive rights of poor people. Whatever may be the challenges, she argued, the number of children should not be limited by income “because the world has been immeasurably enriched by quite a number of people born to low income parents--including presidents, athletes, writers, comedians, inventors, business leaders, musicians, and on and on.” The point she, however, failed to make is that education still remains perhaps the only means of escape from the vicious cycle of poverty, especially for children of those low income people. Indeed, the opportunities that some of us have in life are due to the sacrifices of our parents who ensured that we went to school against all odds. That is not what obtains today. A prominent Nigerian recently shared with me a discussion he had with his driver who has many children from several women. The excuse given by the driver was amusing but also very typically Nigerian: “Oga, God knows how He distributes His favours. To people like you, He gave money; to people like us, He gave many children.” Rather than accept his lifestyle as a choice he willingly made, the driver had to drag God to the issue. But then, the religious lobby in Nigeria would support such argument since they don’t ever want you to discuss population control. “If you compare Nigeria with developed countries like Italy, a Catholic dominated country or even the Islamic Republic of Iran, which

is a Muslim country, you will understand that these countries have maintained same population for several years and this has caused them to organise their lives better and provide for their people,” said Mr. Dimos Sakellaridis, a population control advocate. The major concern about the rapidly growing population in Nigeria, according to Sakellaridis, is the fact that there are no infrastructures to support it since social services like schools, health care facilities etc. are not also growing at an equally comparable rate. In fact, they are deteriorating everyday which means that the only thing we are producing at a comparative advantage in Nigeria today are babies. Unfortunately, two stories that have been trending online in the past one week reveal that this has become an African malaise. The first story is that of an 80-year-old farmer in Ghana who has more than a hundred children from 12 wives. “If I get a lady today, I will marry her and have more children”, said the man who reportedly once proposed to one of his own daughters. “He met the lady and said he loved her and later on, the lady said she was his daughter. He said his eyes were worrying him; that was why he didn’t notice it was his own daughter and we laughed over it”, recounted one of his sons. As if that is not disturbing enough, also trending is the story of a 37-year-old Ugandan woman who, at 37, has already given birth to 38 children with the oldest of them being 23 while the youngest is just four-month old. She has had six sets of twins, four sets of triplets, three sets of quadruplets and single births. Ten of these are girls and the rest are boys. Yet, the husband fathering all these children has practically left the poor woman to bear the burden alone. There are many of such men in Nigeria and that is why emir Sanusi’s proposal is important because it goes to the heart of our largely unproductive population. I have highlighted in the past on this page, a 2010 report sponsored by the British Council and coordinated by David Bloom, Harvard Professor of Economics and Demography, titled, “Nigeria-The Next Generation” which speaks to this same issue. The report remains instructive as it states inter alia: “Nigeria is at a crossroads: one path offers a huge demographic dividend, with tremendous opportunity for widespread economic and human progress, while the other path leaves Nigeria descending into quicksand.” The kernel of that point is to ask: what kind of population are we breeding? Even when I have not conducted any research, most educated and relatively comfortable people in our society no longer subscribe to having many children. They have only the number they believe they can care for. On the other hand, those who are at the bottom of the society have no qualms about having as many children as they like without considering the welfare of those they are bringing into the world.

In a way, General Ibrahim Babangida should at least be credited for seeing this problem ahead and trying to do something, even if it failed. In 1988, he enunciated the first, and to date the only, National Policy on Population which sought to, among other things, “make Family Planning services available to 50 per cent of women of child bearing age by 1995 and 80 per cent by year 2000; reduce rate of population growth from 3.3 to 2.5 per cent by 1995 and 2 per cent in the year 2000 and provide suitable Family Life Education, Family Planning Information and Services to all adolescents by the year 2000.” The challenge before the nation today is enormous. Last Friday, I was with Dr Iko Ibanga, the Executive Director of Pro-Health International who has spent the past 26 years on the medical mission field and he shared with me a recent experience at one of the IDP camps in Abuja where his daughter went to celebrate her birthday with the residents. The number of children currently resident in the camp, according to Ibanga, is about 250 with those of secondary school age being about 30 percent of the population and the remaining 70 percent being of primary school age. The surrounding community has schools that are willing to subsidize education for the primary school children to the sum of N2,000 per child and secondary schools for a sum of N15,000 but because their parents cannot afford such meager sums, the children are just roaming the streets with their future in jeopardy. On Monday, at a meeting of “Men of Issachar”, the men’s fellowship of our church, we had to make contributions for a special fund for the education of children in Tunga communities of Abuja. The issue arose because in the course of a church planting mission, it was discovered that most of the children are not in school because their parents cannot afford to pay N1,500 per term. While our efforts may help in putting some of these children in school, and there are many such similar efforts that I know of, the problem is far deeper than what any ad hoc arrangement can handle. Against the background that most Western countries are already grappling with the problem of ageing populations, Nigeria’s young population is a major potential. But without investing in education for them, this opportunity promises only one inevitable outcome which is disaster. Nigeria, according to the British Council report earlier referred to, is poorly positioned to maximise the economic opportunities created by its demographics yet if this potential is not harnessed, “it will become an increasingly disruptive force”. The signs of this malaise are already all-too-evident on the streets of our major cities and in the millions of out-of-school children that we have across the country. I just hope that the authorities and critical stakeholders are paying attention. I also hope we can all come up with solutions to what has become a perplexing national problem. Before it is too late!

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