Wednesday 13th September 2017

Kachikwu: Nigeria Will Oppose Oil Output Cuts OPEC mulls extending production curbs by over three months Ejiofor Alike with agency reports Nigeria will resist any attempts to curb its oil production when it meets

with the Organisation of Petroleum Exporting Countries (OPEC) and Russia later this month, posing a threat to the cartel’s efforts to cut global supplies and

boost crude prices towards $60 a barrel. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, told the Financial Times in an interview that

Nigeria’s oil and gas sector was still suffering from years of violent disruptions and needed more “recovery time” before joining a supply deal agreed last year between

some of the world’s biggest oil producers. Kachikwu, who represents Nigeria at OPEC meetings, said he would not consider reducing production until at

least March next year, as it had not yet been proven that the country’s rebound in production would last. Continued on page 12

FG Markets N100bn Sovereign Sukuk, Arouses Investors' Interest… Page 50 Wednesday 13 September, 2017 Vol 22. No 8182. Price: N250

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Abia Govt Imposes Curfew on Aba After Soldiers, IPOB Clash Two feared dead, others injured in Rivers in another fracas NUJ secretariat, journalists attacked, army apologises Kanu’s lawyer claims IPOB leader under house arrest, military says it’s not after him Ohanaeze, Senate caucus ask FG to end harassment in S’East Ernest Chinwo in Port Harcourt, Emmanuel Ugwu in Umuahia, Damilola Oyedele and Onyebuchi Ezigbo in Abuja Following Sunday’s clash between the civil populace, especially members of the Indigenous People of Biafra (IPOB) and soldiers of the Nigerian Army at the country home of the IPOB

Leader Nnamdi Kanu, as well as further skirmishes yesterday around the border communities between Abia and Rivers State, the Abia State governor, Dr. Okezie Ikeazu, has imposed a dusk to dawn curfew on Aba, the commercial capital of the state. Continued on page 12

Justice Auta Explains Why Judiciary Did Not Disqualify Buhari in 2015 Alex Enumah in Abuja The Chief Judge of the Federal High Court, Justice Ibrahim Ndhai Auta yesterday revealed why the court did not disqualify President

Muhammadu Buhari from contesting the 2015 presidential election in spite of the numerous court cases against him. Continued on page 12

States Netted N820.7bn in IGR in 2016… Page 49

L-R: Company Secretary, Stanbic IBTC Holdings, Mr. Chidi Okezie; Chairman, Stanbic IBTC Holdings, Mr. Basil Omiyi; Chief Executive of the group, Mr. Yinka Sanni; and Non-executive Director of the group, Mrs. Salamatu Sulaiman, during the 5th Annual General Meeting of Stanbic IBTC Holdings, held in Lagos… yesterday

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AGF: Prosecution of Financial Crimes is Poor, Scope of Whistleblower Policy Limited Adedayo Akinwale in Abuja In another critique of the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices and Other Related Offences Commission (ICPC), among other law enforcement agencies, the Attorney General of the Federation (AGF) and Minister of Justice, Abubakar Malami (SAN), has described the prosecution of financial crimes, as well as the tracing and confiscation of assets as poor. He also stated that the lack of coordination among institutions championing the

anti-corruption crusade has been a major challenge. The minister, who was represented by an aide in his office, Sulayman Dawodu, made this known yesterday in Abuja at the Government-Civil Society Organisations (CSOs) Round Table on the review of laws on the Open Government Partnership (OGP) in Nigeria, where he also revealed that the AGF had set up a secretariat for the implementation of the anti-corruption strategy of the OGP principles. He stated that one of the challenges of the existing laws and policies on anti-corruption in Nigeria was that the prosecution

of financial crimes and tracing and confiscation of assets, were very poor. The minister also added that the whistleblowing policy of the Ministry of Finance was very limited in scope because it focuses on reward while the protection of the whistleblower was equally limited. Accordingly, he urged the CSOs to advocate for the speedy passage of the Whistle Blow Bill currently before the National Assembly. However, in order to ensure effective implementation of the OGP process, the federal government and the CSOs have commenced a comprehensive

have remained because majority of government activities are shrouded in secrecy and thus have limited the space for citizens’ management. To change the situation, Igbuzor said: “We are focusing on committing to jointly review existing legislations on transparency and accountability issues and making recommendations to the National Assembly.� He noted that the lead agency for this was the Ministry of Justice, adding that other organs to support the implementation included the National Assembly, National Orientation Agency (NOA) and the Bureau of

Public Service Reform (BPSR) and CSOs. He explained that the commitment entails a comprehensive review of all laws and legislations relevant to the OGP process like the EFCC Act, Nigeria Extractive Industries Transparency Initiative (NEITI) Act, Freedom of Information (FOI) Act, ICPC Act, and the Money Laundering Act, among others. “We have commissioned a review of the laws and legislations and this round table is going to discuss the report of the review and make recommendations to the National Assembly,� Igbuzor added.

the common man would believe in the goodness of the system. Do not be worried about the social media and those that deliver judgments on the pages of newspaper. “The job of judging is a special gift from God and in the end you will face God to justify your actions,� he said. “I pray that God changes our mind to think more about the unity of Nigeria where everyone is treated as one and the same. Our job is perhaps the only one that guarantees the aspirations of our founding fathers,� he added. On the achievements recorded by the court so far, Justice Auta

disclosed that the court now has divisions all over the federation for administrative convenience and to take justice to the doorsteps of all Nigerians. He added that the court also has 80 judges and ten more will join the Federal High Court bench before the year runs out. He thanked the Chief Justice of Nigeria (CJN), Justice Walter Samuel Onnoghen for always giving prompt approval to the requests of the court and thanked the staff of the Federal High Court for their loyalty and dedication to duty. Also speaking at the occasion the Attorney General of the

Federation and Minister of Justice, Abubakar Malami (SAN), charged judges to always be upright, fearless and considerate in the discharge of their duties. Malami whose speech was delivered by the Solicitor General of the Federation, Mr. Dayo Apata, commended the efforts of the chief judge in the reforms executed under his leadership. The AGF further charged judges to always ensure speedy dispensation of justice on the cases before them without compromising credibility, adding that judgments should always be made to reflect the laws of the land.

Ikpeazu, who addressed journalists after an emergency meeting of the security council in the state which was convened over the security situation, said the curfew came into effect yesterday and would last for three days (September 12-14) between 6pm and 6am, adding that “Aba residents are advised to observe the curfew�.

The Abia governor said he was quite aware of the degenerating security situation in the state, noting that the clashes between the army and IPOB members “could presumably be attributed to the commencement of the said Operation Python Dance II�. Curiously, the governor made no mention of any invasion on Kanu’s residence yesterday, thus raising

doubts over the claim made by the lawyer of the separatist leader. In order to curb the rising tension in the state, Ikpeazu urged the army to carry out its operation in accordance with standard rules of engagement, taking cognisance of human rights and the rule of law.

prolonged output cuts would be “difficult� to keep up. “The earlier all of us get used to the fact (shale) is going to be there for a long time, the better,� said Kachikwu. Meanwhile as OPEC member countries prepare to meet this month, the cartel and its allies are discussing a further extension of the oil production cuts ahead of a ministerial meeting scheduled for late November in Vienna. Bloomberg reported that the duration will depend on multiple variables, including the level of compliance with agreed cuts by OPEC and its allies, the pace of the oil-output recovery in Libya and Nigeria, U.S. shale supply and the strength of global demand. This is coming as the cartel yesterday forecast higher demand for its oil in 2018 and pointed to signs of a tighter global market, indicating its production-cutting deal with non-member countries was helping to tackle a supply glut that has weighed on prices. In a monthly Oil Market Report, OPEC said the world would need 32.83 million barrels per day (bpd) of OPEC crude next year, up 410,000 bpd from its previous forecast. OPEC’s own estimates show

that even with demand for its oil likely to increase next year, the group won’t be able to reverse curbs on output if it wants to balance the market. The organisation boosted its forecast for the amount of crude it needs to supply by 400,000 barrels a day to 32.8 million barrels in 2018, which remains in line with production last month. The group’s total output dropped 79,100 barrels a day to 32.755 million a day in August amid a retreat in Libyan production, according to the report. The cartel, which pumps four of every 10 oil barrels the world consumes, said that demand for its crude in the first and second quarters of 2018 will be lower than its current production, suggesting oil inventories will increase once again in the first half of next year. OPEC pegged demand for its crude at 31.8 million barrels a day in the first quarter, and at 32.4 million in the second quarter. That compares with current output of nearly 32.8 million barrels. Saudi Arabian Energy Minister Khalid Al-Falih last weekend discussed the potential extension of the deal with his counterparts

from Venezuela, Kazakhstan and the United Arab Emirates. Al-Falih said longer-lasting curbs “would be considered in due course as market fundamentals may dictate�. Oil edged higher for a second day as OPEC was said to be considering keeping production caps in place beyond their March expiration and U.S. crude refiners accelerated their post-hurricane recovery.

review of all existing legislations and laws on anti-corruption, transparency and accountability issues, with the aim of making recommendations to the National Assembly. In his remarks, the Executive Director, African Centre for Leadership, Strategy and Development (Centre LSD), Dr. Otive Igbuzor said it was well known that Nigeria for several decades has continued to grapple with the effective utilisation of its resources to support equitable economic growth, effective service delivery and social cohesion. He stressed that there was the belief that these challenges

JUSTICE AUTA EXPLAINS WHY JUDICIARY DID NOT DISQUALIFY BUHARI IN 2015 Justice Auta, who spoke on the occasion of the commencement of the 2017-2018 legal year held in Abuja, disclosed that the court as an unbiased arbiter took the decision so as to create a level playing field for all contestants in the election. In the same vein, the chief judge added that attempts to prevent some National Assembly members from contesting the 2015 polls on account of their defection from one party to another was resisted by the courts in order to allow all eligible candidates test their popularity at the polls. In this regard, Justice Auta said Nigerians should be grateful to

the judiciary for preserving the unity of the country. “Despite all the pressure to stop certain members of the National Assembly as a result of their abandonment of the party that brought them to power, the court insisted that every candidate must be allowed to test his/her popularity. “Secondly, the attempt to stop the president from contesting was also rejected by this court. This is because we in the Federal High Court preferred a level playing field for all candidates. “It is this option and insistence of this court that has kept the country together during and

after the election. The nation therefore owes the judiciary and particularly the Federal High Court for the unity of this country,� he said. While he said the court joined other Nigerians to pray for the good health of the president in his bid to provide quality and exemplary leadership for the country, Justice Auta charged judges to be bold in taking far reaching decisions even in the face of persecution in order to preserve the unity of Nigeria, and to continue to repose confidence in the judiciary as the last hope of ordinary Nigerians. “I urge you to be the reason

ABIA GOVT IMPOSES CURFEW ON ABA AFTER SOLDIERS, IPOB CLASH This is just as Kanu’s lawyer, Mr. Ifeanyi Ejiofor, claimed that soldiers laid siege on the IPOB leader’s residence in Afaraukwu, Umuahia in Abia State, yesterday and placed him under house arrest. According to the lawyer, the latest invasion on Kanu’s residence, led to a clash between IPOB members and the deaths of four

persons with several others injured. But even as the claim that Kanu had been placed under house arrest could not been verified, another clash took place in the neighbouring Oyigbo community in Rivers State between IPOB members and the military, which eyewitnesses said resulted in the deaths of two persons and many injured. Oyigbo is about

25km from Aba in Abia State. However, the Nigerian Army has denied that Kanu’s residence was invaded yesterday, stating that no soldiers were deployed to his residence and that its operation in the South-east, known as Operation Python Dance II, was not targeted at him. The army also denied the clash in Oyigbo.

Continued on page 48

KACHIKWU: NIGERIA WILL OPPOSE OIL OUTPUT CUTS “We have a nine-month exemption period within which to come back to the table,� Kachikwu said, referring to the decision to extend the near 2 million barrel a day (mpbd) supply cut deal from June. “You need that timeframe to see if any recovery is sustainable,� he pointed out. His stance puts Nigeria on a potential collision course with other OPEC members as the country’s output has rebounded strongly in the past 12 months, blunting the effectiveness of a deal between 24 countries to shave off almost 2 per cent of global oil output. Africa’s largest oil producer has seen its output jump from a low of 1.4mbpd a year ago to almost 1.9mbpd in August, according to consultants and analysts OPEC relies on to track members’ oil production. Nigeria’s own output numbers are lower. Both Nigeria and its conflictridden OPEC peer Libya were made exempt from the initial agreement reached late in 2016, as both countries’ oil sectors recovered after years of unrest that crippled the lifeblood of their economies. But higher than anticipated production from both countries

has dulled the impact of the supply deal, as has resilient US shale production and poor adherence with the pact from participating members of OPEC such as Iraq and the UAE. A ministerial committee monitoring compliance with the deal, made up of officials from OPEC and those outside the cartel such as Russia, has said Nigeria would cap or curb its output once production stabilised at 1.8mbpd. But a timeline or framework to measure steady production and the country’s entry into any deal has never been specified. Pressure on Nigeria to reduce its crude production is expected to increase when it attends an informal meeting in Vienna later this month with delegations from Saudi Arabia and Russia, which have been leading the cuts effort. Kachikwu said while militant attacks in the resource-rich Niger Delta region had subsided, and output had rebounded from last year’s low, more time was necessary. “They should let us exhaust those nine months and see whether we have been able to establish stability,� he said. Alexander Novak, Russia’s Energy Minister, told the FT

in July that volatile output from Nigeria and Libya was causing “uncertainty� among market participants. Industry analysts said both countries’ production was keeping a ceiling on prices. Global producers took coordinated action as the crude price downturn that had put an acute strain on their economies entered its third year. Saudi Arabia has discussed a further extension in recent days with several oil producers and two OPEC delegates said Nigeria’s involvement is in focus. For Kachikwu, limits to price rises had mostly to do with robust US shale oil output. “(OPEC’s) big expectation that we would be able to hit $60 a barrel is not looking likely,� said Kachikwu. “$60 is looking very, very tough right now if you look at the sort of numbers coming out from US shale,� he added. Kachikwu said Brent crude price would likely stay close to $55 a barrel for the next year, with any further rises depending on a “well managed� OPEC output policy that ensured producers did not “pump unnecessarily�. He added that should US shale output continue to expand,

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COMMENT

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

HAVE WE RETURNED TO THE WOLF’S AGE? Government must up its game of protecting lives and property, writes Sonnie Ekwowusi

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omething grotesque is happening to us in Nigeria at the moment. There is something suggesting that we have returned to the Age of the Wolf (a post-apocalyptic adventure series published in the British comics anthology 2000 AD) in which our humanity has turned into bestial lupines and were wolves devour and eat up one another. What is happening today testifies to the loss of the transcendent perception of our humanity. It shows that we are degenerating and retrogressing to the wolf’s age or the Hobbesian bellum omnium contra omnes (war of all against all) characterised by incessant ‘honour’ killings, ritual killings, voodoo killings, cannibalistic killings, kidnappings and open confessions of eating of human parts and sucking of human blood. For nearly one year, cases connected with ritual killings, voodoo killings and kidnappings are continuously being reported across the country. Many WhatsApp platforms are inundated with postings about missing persons, especially missing children. Few days ago I saw on my WhatsApp a photograph of a pretty girl called Anibe Alexandra Odoma. Anibe has been declared missing. She is just five years. She was allegedly kidnapped by some unknown persons the previous night. To this day nobody including her parents could account for her whereabouts. The most painful aspect is that human life is becoming cheaper and cheaper in Nigeria. We are getting accustomed to the spilling of human blood. The death of our fellow human being no longer moves our hearts to revulsion. The best that happens whenever one is murdered is mere public condemnation. No remorse. No justice sought. No efforts to arrest the crime suspects let alone initiate criminal prosecution against them. Think of the uncountable number of Nigerians murdered by the Boko Haram insurgents without remedies being sought by anybody. Who is bringing the Fulani herdsmen to justice for murdering uncountable Nigerians? Just last week some Fulani herdsmen launched a revenge attack at Ancha village in Plateau State killing no less than 19 people who were mostly women and children. Remember the Southern Kaduna massacre? What has come out of the investigation into the recent Ozubulu church massacre? For all you know it is not unlikely that the Ozubulu massacre case has been closed. No lessons learnt. We are deaf. We have short memories. Instead of learning from our tragic past and avoiding a repeat occurrence of further tragedies we are lowering the guard and allowing more tragedies. For example, who could have thought that Somtochukwu, a 10- year- old handsome boy could be murdered during the recent demolition of Ekeukwu market in Owerri Imo State following the idiotic order? As we speak, the blood of Somtochukwu cries to high heavens for justice. The blood of Somtochukwu is in their hands, and, all the waters in Imo State cannot wash away the blood stains in their hands. What is happening to us? Is this a return to the wolf’s age? Do

REMEMBER THE SOUTHERN KADUNA MASSACRE? WHAT HAS COME OUT OF THE INVESTIGATION INTO THE RECENT OZUBULU CHURCH MASSACRE? FOR ALL YOU KNOW IT IS NOT UNLIKELY THAT THE OZUBULU MASSACRE CASE HAS BEEN CLOSED. NO LESSONS LEARNT

we now derive joy in shedding human blood? If other countries are doing everything possible to protect their citizens, why has life lost its value in Nigeria? When David Cameron was the Prime Minister of Britain a five-year-old girl called April Jones was declared missing. And do you know what happened? Almost everybody in the United Kingdom kept vigil in search of her. That is a society that truly values human life. Here in Nigeria life no longer means anything to us. An innocent child can be hacked to death in the full glare of the public and all the public can do is to lament the killing and nothing else. There are many uncertainties trailing human life in Nigeria. And so it is difficult to guess where the next kidnapper or murderer could be coming from. Everybody is a potential victim. Not even the clergy are spared. You will recall that in April 2016 the Parish priest of St. Joseph Catholic Church, Ukana, Udi Local Government Area, Enugu State, Rev. Fr. Celestine Aniako was kidnapped by suspected Fulani herdsmen who later demanded N10 million ransom. Earlier in March the same Fulani herdsmen had murdered two Rev. Sisters and burnt about 17 houses in Abbi, Uzo Uwani Local Government Area, Enugu State. In April 2016, the Vicar-General of the Otukpo Catholic Diocese Rev. Fr. John Adeyi was kidnapped by some gunmen along Odoba Otukpa-Okwungaga road, Otukpo, Benue State. Sadly enough, two months later his decomposed body was found somewhere even after his kidnappers had collected N2 million ransom. Recently Rev. Fr. Cyriacus Onunkwo was kidnapped. Last week the police confirmed that his captors had on September 1, 2017 murdered him. In fact photographs of his captors confessing to the crime are being circulated on WhatsApp. Fr Onunkwo had travelled home from Lagos to prepare for the burial of his father only for his abductors to abduct him and subsequently murdered him. Barely one week thereafter, precisely last Friday, gunmen invaded St. Thomas Catholic Church, Onilekere, Ikeja, Lagos and shot Parrish priest Rev Daniel Nwankwo who had finished his pastoral work and was just stepping out of the church. We live in a historical moment in which there is virtually absence of democratic statesmanship that protects the people from societal preys as well as advances their wellbeing. A mere custodian leadership that seeks to administer the affairs of the people is not enough. We need statesmanship that seeks a metaphysical dept with a view to transforming the affairs of the people to their ultimate benefit. But French historian Alex De Tocqueville stated that statesmanship does not occur in the abstract: it is a function of a particular socio-political order. If we are serious about protecting lives and property of Nigerian citizens we must envision and enthrone a particular socio-political order capable of fulfilling the primary responsibility of government- protection of lives and property. Sanctimonious speeches of a political leader cannot offer protection to the citizens let alone promote their overall wellbeing. We do not look at the speeches of a true statesman to detect his leadership qualities. We look at what Paul Eidelberg termed the “so many streams of energy� of a statesman directed at promoting the common good.

REDEFINING GOVERNANCE IN TARABA Simon Baba records Darius Ishaku focused leadership

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t was the weekend of Sallah holiday but for Governor Darius Dickson Ishaku it was no time to rest. It was time to work even more and it turned out to be one of his most stressful periods, crowded as it were, by series of events. The centres of his major engagements were in Jalingo, Takum and communities along the Taraba-Benue States’ borders. Before leaving Jalingo on Friday, September 1,for Takum, his home town for the Sallah holiday he attended a two-hour opening church service of the Second Annual Convention of Ekan Church Women Fellowship held at the Lutheran Church of Christ Nigeria , Mayo Gwai, Jalingo, where he was given a special award of excellence. The award is in appreciation of his achievements as Governor of Taraba State in all departments of service delivery, for giving women a special place in his government and also for his unique skills acquisition programme that has greatly enhanced the socio-economic status of women in the state Governor Ishaku who was accompanied to the programme by his wife, Mrs. Anna Dickson Ishaku, told the women that until he became governor he never knew the importance of the prayers that church leaders often ask the congregation to offer for those in leadership positions. He urged them to continue to pray for peace. He also used the occasion to explain some of the achievements of his administration, especially in education. He told them that in the two years of his administration, the state’s performances in the West African Examination Certificate (WAEC) has jumped to an enviable height. In 2016, the state recorded 67.3 per cent

performance in WAEC, the best in the 26-year history of the state. This year also, the state was listed among the 10 best performers in the examination: it came eighth among the 36 states in the country. This result also places Taraba first in the entire former Northern region. These achievements were made possible through the new attitude of discipline, commitment and consistent investment in the sector by the Ishaku administration. He also told them that financial leakages have been blocked by his administration in several areas including the payroll of primary school teachers. “A lot of people didn’t want us to screen the payroll of teachers but we insisted and the results have proved me right. We are not relenting. We even discovered fake schools in the process and those schools have been shut down.� This achievement was the reason for the recent visit of leaders of the Nigerian Labour Congress (NLC) to Government House. They had come to thank the governor for restoring sanity to the administration of schools and for paying teachers’ salaries and local government staff regularly. Also speaking, Mrs. Ishaku advised women to play supporting roles in the home and never attempt to be in competition with their husbands. He urged them to ensure that they promote peace at home so that their husbands can go out and accomplish the roles they are expected to play for the advancement of society. “Our role as women is to support our husbands. We must never do anything to suggest that we are in competition with them�, she said. With that accomplished, the governor’s convoy moved to Takum where he and his wife

spent the rest of the Sallah break attending to other very important matters. He arrived that evening at his private residence in Takum and received by a huge crowd of supporters and Peoples Democratic Party (PDP) members. His intention was to catch some rest but that was not to be as the spirit of service to the people did not allow that. On Sunday, he and his wife attended a special church service at the Christian Reformed Church, at Gu Almasihu, Takum where the presiding Reverend Pastor, Shem B. Nuhu praised him for building a bridge and rehabilitating one of the worst roads in the community, for building a major road in Takum and for providing the people with boreholes that have become a regular and reliable source of potable water. Ishaku later proceeded to the site of the special Referral Maternity Hospital being constructed by the T.Y. Danjuma Foundation. He had promised the people of Takum a similar hospital while campaigning for election there in 2015 but General T.Y. Danjuma decided to fund the project when the governor complained to him that the state was unable to fund it. Ishaku expressed satisfaction with the pace and quality of work being done by the contractors. The day’s programme was crowned with a stakeholders meeting with leading members of the Takum community held at the Governor’s Lodge in Takum. On Monday, September 4, it was the turn of the entire Muslim community in Taraba State to pay the traditional Sallah homage to the Governor. The event also took place at the Governor’s Lodge in Takum. They came from all the16 Local Government Council Areas of the

state. Consultative meetings that followed the open reception lasted till very late in the evening but this did not prevent Governor Ishaku from rising and leaving early the following day for yet another stressful engagement. It was a peace mission to communities along the Taraba-Benue States’ borders where there had been some agitations over land ownership. He was met by the Benue State delegation led by Dr. Samuel Ortom, governor of Benue in Wukari. The two governors and their delegations drove in a long convoy to Ugba, a Benue border town for a meeting that would eventually lead to the resolution of the agitations. On their way, they stopped in about six communities on both sides of the border to appeal to the people to live in peace. Their message at every stop was virtually the same – that the Jukun in Taraba and the Tiv in Benue have long been neighbours who had lived peacefully for a very long time and should not fight over land. They both promised policies that would encourage peace and harmony in these communities. They stressed that border lines were usually for administrative convenience and should not be seen as a mark of division and conflict. At Ugba, a two-hour meeting on the border issues ended that evening with a communiquÊ signed by both governors. The communiquÊ mandated the deputy governors of the two states to engage in further consultations on the issues involved and to also liaise with the appropriate federal government agency on boundary matters to ensure a permanent resolution of the dispute between communities along the borders of the two states. Baba wrote from Jalingo

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EDITORIAL FROM RECESSION TO RECOVERY The recession may be over, but hard times are still here

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he report last week by the National Bureau of Statistics (NBS) that Nigeria has exited its worst economic recession in more than two decades, notching up a growth rate of 0.55 per cent in the second quarter of this year, was met with scepticism by many Nigerians. The problem is not so much that the people doubt the ďŹ gures from the NBS but rather that they cannot see any material improvement in their lives. What that suggests is that the federal government must begin the necessary work to ensure that the positive outlook of the economy impacts positively on the people. According to the NBS data, the economic recovery was driven by improved performance of oil, agriculture, manufacturing and trade sectors of the economy. Incidentally, after a brieďŹ ng by his economic team two weeks ago, President Muhammadu Buhari had expressed satisfaction with the state of the economy. This followed updates provided to the president on the implementation of the 2017 budget, preparation for 2018 budget, revenue strategies, combined cost reduction and UNTIL THE GOVERNMENT debt management. They also discussed CAN ENSURE THAT monetary policy MAJORITY OF OUR strategies and their YOUNG CITIZENS FIND economic impact. MEANINGFUL JOBS, Buhari was quoted as ALL THE FEEL-GOOD being glad that “things STATISTICS BEING were looking up after BANDIED AROUND BY THE two years of a yeoman’s jobâ€? and that he COUNTRY’S ECONOMY MANAGERS AND FOREIGN was “pleased with the progress being made EXPERTS MAY BE on different fronts.â€? MEANINGLESS TO THEM The president’s commendation of the performance of the economy under his watch came on the day the NBS released its report which put ination rate at 16.05 per cent, a slight drop from the 16.10 per cent it was in June. This perhaps was one of the reasons for the enthusiastic claim of the president that the economy was looking upward. Actually there have been other forecasts by both local and international rating agencies that the Gross Domsetic

Letters to the Editor

Product (GDP) rate might improve appreciably in the positive region by the last quarter of the year, after the ďŹ fth successive quarter of negative growth rate, even as the exchange rate appeared to have stabilised at N362/$ from last quarter’s N365-385/$. However, the president and his ofďŹ cials must look at other economic indices and the practical reality that confront the ordinary Nigerian. The improvements have been generally sluggish and do not appear to sufďŹ ciently rekindle investors’ conďŹ dence in the economy as foreign direct investment (FDI) declined $1.55 billion to $908 million in the last quarter. There was also declining productivity with capacity utilisation dropping from 50.5 per cent to 48.50 per cent. No wonder, therefore, unemployment rate rose from 13.9 per cent to 14.2 per cent. Worse still, and at a time majority of the states and local governments owe several months in backlog of salaries, food prices hit eight-year high since 2009, rising by 20.28 per cent.

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

ON CHIBOK GIRLS, NYSC AND EFCCISTS

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common thread runs through the narratives of “Chibok Girls,� the National Youth Service Corps (NYSC) and the activities of the Economic and Financial Crimes Commission (EFCC) and that thread is so subtle that discerning its dishonest course requires astute observation. But the closest to such an astute observation was the worrying analysis provided by the Northern Christian Elders Forum (NCEF) a short while ago. The kidnap, rape, killings, and forceful conversions that are the talking points of the tragedy at Chibok has a Christian denominator because that incident was a carefully-orchestrated plan to thrust a spear into the heart of the Christian community, as a matter of speaking. The idea that Christian school girls are easy pickings because some religion decrees so is repugnant to say the least especially when the larger corpus of this religion choose the path of guile or approved deception to give the impression that that action at Chibok was evil. The suppression of Christians is put to the glare at the NYSC with respect to distribution of corps members in line with the founding principle of this scheme; it is known

lthough the nation’s market size is one of the biggest in Africa and Asia, many investors ďŹ nd it difďŹ cult taking the risk of setting up in Nigeria for such other factors as high and multiple taxation, excessive regulatory regimes, unpredictable foreign exchange policy and other actions which impact negatively on the production cost and therefore affect return on investment. To compound the problem, the power sector remains practically comatose. Meanwhile, with only a quarter left in the ďŹ nancial year, not a kobo of the capital vote for the 2017 budget has been released despite the announcement by the ďŹ scal authorities that releases would begin by early July. Yet without the capital releases, the goal of reating the economy with its possibilities of boasting growth and employment generation would remain illusory. Given the foregoing, the federal government must go beyond the ďŹ gures and work more on how the statistics could impact concretely and positively on the people. Until the federal government can ensure that majority of our young citizens ďŹ nd meaningful jobs, all the feel-good statistics being bandied around by the country’s economy managers and foreign experts may be meaningless to them.

that NYSC takes it as given that Muslim girls cannot serve outside their areas of choice (most commonly the town they call home) because of the “risks� they would be exposed to and because of the extreme “sensitivities� of their upbringing that forbids them from “mixing-up.� That is one huge puff to the founding charter of the NYSC; thus, clearly, Christians girls are here, once again, easy pickings for lecherous men during their service year because NYSC duly expects them to be posted anywhere and “serve their fatherland.� The EFCC provides the worst kind of religious divide; the relentless pursuit and demonisation of Christians by the EFCC has left a lot of people befuddled and flustered and so the thinking is that the “holy North� must be a place of economic prosperity and equitable distribution of resources where poverty is unknown. Regrettably, an enquiry into this “holy North� reveals startling gulf of wealth on a scale not known in the “corrupt South� and one that has made this southern parts attractive for migration for families from the north. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna

IMO POLICE FIGHT AGAINST CULTISTS

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ermit to use your medium to commend the Commissioner of Police, Imo State Command, Chris Ezikpe, on his determination to root out kidnappers, cultists and other criminal elements out of the state. The arrest and parade of the suspects in the kidnap and killing of Rev. Fr. Cyriacus Onunkwo of the Orlu Catholic Diocese, last Thursday, by the state police command are most heartwarming. In particular, the deployment of heavy personnel last week to the oil producing communities of Assa, Obile and Awarra in Ohaji/Egbema Local Government Area of the state where activities of rival cult groups in recent months had resulted in the loss of lives and destruction of properties leading to people’s desertion of the communities is noteworthy. Suffice it to urge the Imo

police boss not to relent in this latest onslaught against the cultists and brigands that have made life miserable for the communities and state at large. Besides ensuring that normalcy returns to the communities, I implore Ezikpe to ensure that concerted efforts are made to apprehend the perpetrators of the criminal activities in the communities so that they can be made to face the full wrath of the law. Anything less than this will not bring about the much desired and needed sustainable peace and security to the affected communities that have since been deserted, with schools, churches and markets closed. This is more so as it is evident that the ill-advised amnesty granted the criminal elements masquerading as militants by the Rochas Okorocha administration last September has not yielded the desired result. Onugo Thomas, Ikwerede, Ohaji, Imo State

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T H I S D AY ˾ WEDNESDAY, SEPTEMBER 13, 2017

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MIDWEEKPOLITICS

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

THE NEWSMAKER

Atiku Abubakar’s Ambition Divides APC

The 2019 general election is still over sixteen months away, but the ambition of one man, Atiku Abubakar, has created so much frenzy in the polity and is threatening to tear the All Progressives Congress apart, Segun James reports

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he die is cast” declared Julius Caesar as he led his legion across the Rubicon River toward Rome; as it was with Caesar then so it is now with former Vice-President Atiku Abubakar as he declares his ambition to become the next President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. Intelligent, bold and audacious, rarely has a politician had more fans and enemies at the same time as the purpose driven and strong-willed All Progressives Congress (APC) chieftain. This will be his fourth bid for the elusive presidency. Will he be fourth time lucky like President Muhammadu Buhari? Only time will tell. But if recent happening in the polity is anything to go by, he is making strong impression this time around than any other time to actualise his ambition. Abubakar is the restless sort. For years he has focussed his eyes on being president of Nigeria. He has never wavered in his quest, even in the face of daunting opposition and opponents who consider his ambition as inordinate. He has always dared to be bold. When out of power, most politicians go out of circulation. You hardly hear their voice. Not Atiku. He is always around and visible even as he tries as much as possible to avoid constituting himself a distraction to the government in power. That was the situation until now when he stirred the hornet’s nest. Trouble started when the Minister for Women Affairs, Aisha Alhassan at a private visit to Atiku endorsed the former vice president for the 2019 presidential election. The minister told him boldly: “Your Excellency, our father and our president by the grace of God, come 2019,” she said in Hausa language. Eventually, the video clip of the visit was leaked to the press. While the minister was saying this, Abubakar sat listening. Popularly called Mama Taraba, Mrs. Alhassan was the APC governorship candidate in Taraba in 2015, an election she narrowly lost to the Peoples Democratic Party. Her support for Abubakar was not surprising to political observers given the fact that the former vice president is believed to be her political godfather and responsible for her becoming the APC governorship candidate in the last election. Alhassan also confirmed her loyalty to Atiku when she stated that she was not scared of being sacked by Buhari. Following the outburst and the controversy it generated, the APC called on the minister to resign her appointment given the fact that she is not loyal to the president and the government she is serving. But Abubakar has come out boldly not only to support the minister’s statement but also to accuse the party and the federal government of undermining his contributions to the emergence of President Muhammadu Buhari as president in 2015. Atiku praised Alhassan for standing her ground and remaining loyal to him - He argued that since APC is a coalition of parties, members are free to remain loyal to whoever they want. He tongue-lashed his party for lacking in internal democracy, noting that even though democracy had taken root in Nigeria, elements from the military still wield power in the country. He warnned that any party that stifles the freedom of its members cannot provide freedom for the country. Abubakar also accused the party as undemocratic in the way its leaders carry out their activities, lamenting the alleged refusal of the party to organise statutory meetings for the organs of

Atiku...ready to confront his party

the party. “The issue of internal democracy in our political parties has been with us for a long time, indeed since the restoration of civilian rule in 1999. In long-established democracies those statements would seem trite. But I recognise that our democracy is young, and our parties are also rather young. “We had a very long period of authoritarian rule in Nigeria, ending in 1999. The legacy of that period is still with us as can be seen in our various governance institutions. Indeed even elements of that authoritarian past still wield power and influence in our country as we try to transition from that legacy.” The battle line has been drawn between him and his party. Before now he had been a thorn in the flesh of the party when he declared to the chagrin of APC that the country must embrace restructuring. While APC leaders were avoiding the issue like a plague, Atiku not only embraced it, he also became one of the leading lights in the struggle for restructuring. His position irked many in his party. But he didn’t give a damn. fl Atiku Abubakar, politician, businessman and a philanthropist was born on the 25 November of 1946. He worked in the Nigeria Customs Service

As the 2019 general election draws near, the questions remain: under which political party will Abubakar contest the election? Many are already speculating that he will move to the PDP. If he does, no one will be surprised. That will be typical Atiku.

for twenty years, rising to become a deputy director, the second highest position in the service was then known. He retired in April 1989 and took up full-time business and politics. He ran for the office of governor in the Gongola State (now Adamawa and Taraba States) in 1991, and for the Presidency in 1993, placing third after MKO Abiola and Babagana Kingibe in the Social Democratic Party (SDP) flprimaries. In 1998 he was elected governor of Adamawa State. While still governor-elect he was selected by the Peoples Democratic Party (PDP) presidential candidate Olusegun Obasanjo as his running mate. The duo went on to win the elections in 1999, and Abubakar was sworn-in as vice president on 29 May 1999. Abubakar’s second term as vice president was marked by a stormy relationship with Obasanjo. His bid to succeed Obasanjo did not receive the latter’s support, and it took a judgment of the Supreme Court to allow Abubakar contest after he was initially disqualified by the Independent National Electoral Commission on the grounds that he had been indicted for financial misconduct by an investigating panel set up at Obasanjo’s behest. The Supreme Court ordered the electoral commission to restore Abubakar’s name on the ballot. Abubakar ran on the platform of the Action Congress, having quit the PDP on account of his issues with Obasanjo. Atiku lost the election, placing third after Umaru Yar’Adua and Muhammadu Buhari of the All Nigeria Peoples Party (ANPP). He was born to an itinerant Fulani trader and farmer Garba Abubakar, and his second wife, Aisha Kande, in Jada village in what is today Adamawa State, formerly Gongola state. He was named for his paternal grandfather, Atiku Abdulkadir. At the age of eight Atiku enrolled in the Jada Primary School where he performed well. In 1960, he was admitted to the prestigious Adamawa Provincial Secondary School in Yola where he did well in English Language and literature, struggled with physics and hemistry and mathematics. He graduated with a Grade Three WASC/GCE Certificate in 1965. After completing his secondary school education, Atiku studied at the Nigeria Police College

in Kaduna. He left the college when he was unable to present an ordinary level mathematics result. He worked briefly as a tax officer in the regional ministry of finance, from where he gained admission to the School of Hygiene in Kano in 1966. He graduated with a Diploma in 1967, having served as Interim Student Union President at the School. In 1967 he enrolled for a Law Diploma at the Ahmadu Bello University Institute of Administration, on a scholarship from regional government. After graduation in 1969, during the Nigerian Civil War, he was employed by the Nigeria Customs Service. Atiku’s first foray into politics was in the early 1980s, when he worked behind-the-scenes on the governorship campaign of Bamanga Tukur, who at that time was managing director of the Nigeria Ports Authority. He canvassed for votes on behalf of Tukur, and also donated to the campaign. Towards the end of his customs career, he met Shehu Musa Yar’Adua, who had been second-in-command of the military government that ruled Nigeria between 1976 and 1979. Atiku was drawn by Yar’Adua into the political meetings that were now happening regularly in Yar’Adua’s Lagos home. On 1 September 1990, Atiku announced his Gongola State gubernatorial bid. A year later, before the elections could hold, Gongola State was broken up into two – Adamawa and Taraba States – by the Federal Government. Atiku fell into the new Adamawa State. After an acrimonious contest he won the SDP Primaries in November 1991, but was soon disqualified by government from contesting the elections. In 1998 Atiku launched a bid for the governorship of Adamawa State on the platform of the People’s Democratic Party. He won the December 1998 elections, In 2006, Atiku was involved in a bitter public battle with his boss, Obasanjo, ostensibly arising from the latter’s bid to amend certain provisions of the constitution to take another shot at the presidency (for the third consecutive time). The debate and acrimony generated by the failed constitutional amendment momentarily caused a rift in the People’s Democratic Party. The National Assembly eventually voted against any amendments that would Obasanjo to run for another term. The Atiku-Obasanjo face-off damaged the personal relationship between both men. Following the 2007 elections, Atiku returned to the People’s Democratic Party. In October 2010 he announced his intention to contest for the Presidency. On 22 November, a Committee of Northern Elders selected him as the Northern Consensus Candidate, over former Military President Ibrahim Babangida, former National Security Adviser Aliyu Gusau and Governor Bukola Saraki of Kwara State. In January 2011, Atiku contested for the presidential ticket of his party alongside President Goodluck Jonathan and Sarah Jubril, and lost the primary, garnering 805 votes to President Jonathan’s 2736. On 2 February 2014, Atiku left the Peoples Democratic Party to the join All Progressives Congress. He also lost the APC’s presidential ticket to Buhari in 2015 but went ahead to work for the success of the party during the 2015 general elections. As the 2019 general election draws near, the questions remain: under which political party will Abubakar contest the election? Many are already speculating that he will move to the PDP. If he does, no one will be surprised. That will be typical Atiku. Given the opposition that his ambition has generated lately, he has a lot of hurdles to scale.

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PERSPECTIVE

MIDWEEKPOLITICS

Celebrating What Unites Us Magnus Onyibe posits that it’s high time religious leaders and traditional rulers across the country seized the initiative from unscrupulous politicians trying to cause division by dwelling on what unites us as a nation

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is eminence, Sa’ad Abubakar III, the Sultan of Sokoto’s admonition that God does not make mistakes, must have struck strong chords in the hearts of members of both the Islamic and Christian faiths in Nigeria. The assumption above is underscored by the fact that people of the two major religions believe there is one God. That is a fundamental and critical point of convergence and common ground. Apparently, President Muhamadu Buhari shares this belief because in his Sallah message he also attributed Nigeria’s unity to God and underscored it with the African proverb which states that “A family tie is like a tree, it can bend but it can’t break”. So, bringing the almighty God into the issue of a united Nigeria by the Sultan, is a master stroke that’s bound to resonate with the protagonists and antagonists in the current war of words over the vexed issue of whether to restructure or break up Nigeria. The Sultan seems to have brought in a new perspective which could be referred to as a paradigm shift in the dialogue which has so far featured incendiary comments from both sides of the debate. The sultan spoke recently at a Nigeria Labour Congress (NLC) talk shop in Abuja, where the leader of the Muslim faith in Nigeria sued for a peaceful resolution of the schism through dialogue. He made the case that the formation of Nigeria is divine “because we didn’t fall from the sky, we came from somewhere. We became Nigeria in 1914 through amalgamation. People are shouting that our coming together as a country in 1914 was a mistake, but God doesn’t make mistakes. If God doesn’t want such a thing as Nigeria to happen, nobody could ever have made it happen,” adding that “if restructuring will make life better and convenient, then the think-tank, after their work, would call for stakeholders’ dialogue on the way forward.” In a nutshell, what the Sultan is advocating is that as a people, Nigerians should celebrate what binds us and not what divides us as we are currently doing by driving a wedge between ethnic groups and religions in the country through hate speech. Every October 1st, we celebrate independence day. That’s because on that date in 1960, Nigeria secured independence from British colonial rule. But before then in 1914, the northern and southern protectorates of Nigeria were amalgamated by fiat by the British Empire, a momentous occasion which we don’t celebrate. The Sultan’s perspective is quite illuminating and offers a common ground for dialogue. As we say in Christian marriages: “what God has joined together, let no man put asunder”. And that’s what the highly respected monarch appearing to be echoing. That makes a God focused and sustained path to peace in Nigeria now open for exploration. To that effect, it behooves on religious leaders of the two major faiths as well as traditional rulers from both the north and the south to seize the initiative from unscrupulous politicians who selfishly exploit Nigerians by dwelling on what divides us more than what binds us as a nation. To build on Sultan Abubakar introduction of God into the initiative for peaceful and sustainable existence of Nigeria, l would like to recommend the cementing of the marriage between the north and the south by proposing that Nigeria should start celebrating Amalgamation Day. Obviously, Independence Day celebration became a prominent annual event marked with pomp and pageantry in Nigeria because our former colonial masters, Britain initiated it. Since more often than not, our leaders were led by the nose by the colonialists and are still caught up in neocolonial mindset, instead of having their own initiative of making 1914 an epochal occasion that marked our unification, October 1st 1960 Independence Day, has become one of the most important dates celebrated in our country. Put succinctly, instead of Amalgamation Day being given a pride of place that it deserves and celebrated as it should, Independence Day has taken centre stage in Nigeria. As a country, we

Sultan of Sokoto...Nigeria is not a mistake

should thank God on that day in our churches and mosques in commemoration. This is why as a path way to national unity which most Nigerians are yearning for, l am recommending that the presidency without further delay, send to the National Assembly a bill to proclaim National Amalgamation Day to be celebrated by all Nigerians. That is one way we can focus on the chords that bind us as opposed to dwelling on factors that divide us. To confirm the socio-economic linkages between Nigerians, nostalgic stories have been told of Okonkwo and Sons - a trading point established by an lgbo man in Kano state several decades ago. The shop grew to become a thriving commercial post that later transformed into a town now known as Kwakwanso. It is from that town that Musa Kwakwanso, a former two times governor of Kano state and now a serving senator hails from. As a reporter with the Nigeria Television Authority Newsline in the mid 1980s, l followed a cattle trail from the northern to eastern parts of the country and met an Hausa man named Musa in Enugu who was born there when his parents were located there several decades ago in the cause of herding their cattle.

So, bringing the almighty God into the issue of a united Nigeria by the Sultan, is a master stroke that ought to resonate with the protagonists and antagonists in the current war of words over the vexed issue of whether to restructure or break up Nigeria

He spoke flawless lgbo and without Hausa accent or inflections to the extent that l could not have known that he was Hausa if he had not been identified as such. He too had started bearing offspring that had become deeply entrenched in lgbo culture and way of life. If both Okonkwo in Kano and Musa did not find their far flung locations accommodating, they would not have flourished. And if the instances of integration between the Okonkwo in Kano and Musa in Enugu could happen without government intervention or through any significantly coordinated effort, you can imagine how culturally blended Nigerians could have been, had strategic efforts been consistently made by the authorities to cement the relationship which Sultan Abubakar has declared as being divine. l agree with the monarch because l can relate to the fact that nothing happens without God’s knowledge. To be fair, putting youths through the National Youth Service Corps programme in order to blend culturally by posting them to areas different from their home area was aimed at getting them to understand, integrate and appreciate the cultures of fellow Nigerians in distant locations from home. But the policy which was introduced in the 1973 now appears to have been derailed from what the initiators had in mind. It has been compromised as youths now try to avoid it. Also, it did not help that NYSC members were engaged in the conduct of election process which endangers their lives. In fact, some of the youths have been lynched and suffered other untold murderous incidents during and after elections in some states. As such, parents are no longer releasing their children to serve in environments where their lives are endangered. It may also be recalled that the concept of Unity Schools where students from across the geopolitical zones were admitted into schools far from home was also introduced to encourage cultural integration amongst Nigerian youths, but all those noble objectives and initiatives of the golden days of Nigeria have now become memories of the distant past. So it boggles the mind that authorities are

surprised that our youths are spending their idle time cursing out each other on social media platforms. Do we need a rocket scientist to teach us that the way we make our bed is the way we will lay on it? What the foregoing kindergarten rhyme indicates is that we are reaping what we sowed by not preparing our youths to understand and respect each other’s culture and beliefs. That’s partly accountable for the resort to trading hate speech on social media platforms coalescing into lgbo youths agitating for a Republic of Biafra and Arewa youths giving quit notice to the lgbos. At the height of their governorship of Delta and Bauchi states, some ten years ago, Governors James Ibori and Ahmed Muazu, led traditional leaders from their states on cultural exchange visits. The initiative which was a positive step towards building of friendship between people of both states was discontinued after both Governors left the scene at the completion of their tenures in 2007. The governor’s forums of the two leading political parties, and the various regional governors’ forums should consider reigniting that positive initiative. If such forum for enlightenment was in existence, perhaps, the youths from across the north and south would understand each other better and not literarily be at each other’s throat as they currently are. Democracy is fragile, so we can’t afford to handle it with military force. As Thurgood Marshall, one time Supreme Court Justice of the United States of America, USA once posited “We must dissent, because America can do better, because America has no choice but to do better”. Against the backdrop of the learned American jurist’s comment, dissent is an integral part of democracy. It is high time authorities eschewed militaristic governance style reflected in their crude and poorly formulated draconian policies. Our leaders must start engaging in critical thinking with a view to coming up with democratically acceptable and sustainable solutions for progress in the society and prosperity for all Nigerians. Onyibe, a former commissioner in Delta State wrote in from Lagos

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FEATURES

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A New Heritage for Lagos Nine months after President Muhammadu Buhari approved the release of the State House, Marina, to the government of Lagos State, the federal government only recently officially ceded the historical building to the latter. Gboyega Akinsanmi writes

State House, Marina

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is directive was clear this time. This was unlike the power play that ensued immediately after President Muhammadu Buhari gave approval to concede the ownership of the State House, Marina. In a terse directive to the Permanent Secretary in the State House, Abuja, Mr. Jalal Arabi, the President said: “I have promised, and I have ceded the State House, Marina. Go and carry out the process.� Consistent with Buhari’s pledge, officially, the two governments signed a memorandum of understanding (MoU) penultimate week, which Arabi said, marked the final stage of the handover process. By implication, the historical edifice, from where the first Governor-General of Nigeria, Sir Frederick Lugard steered the affairs of Nigeria, has now been added to the assets of Lagos State. Already, all necessary documents have been handed over to the Secretary to the State Government, Mr. Tunji Bello. With the MoU, the management of the State House came under Lagos State effective from August 17, 2017. And officials of the federal government at the State House are expected to be redeployed to Abuja or be relocated to an entirely different location within the state. For Lagos people at large, the handover is a huge success. It is not a success because the state has taken over the ownership of the

State House after much expectation. However, it is indeed a success mainly because the handover paves way for the implementation of the plan of the state governor, Mr. Akinwunmi Ambode, to transform Marina to the first port of call for every tourist that visits Africa. That explains Ambode’s heart-felt appreciation to every person that facilitated the release of the historical edifice. He, first, appreciated Buhari for ceding the State House to Lagos State beyond the transcending the politics of sectionalism. He, also, appreciated the Vice-President, Prof. Yemi Osinbajo for fast-tracking the process that culminated in the successful handover of the historical edifice. Ambode equally appreciated his immediate predecessor, Mr. Babatunde Fashola for sup-

We strongly believe the State House, Marina, is going to a new husband that we know is capable to take care of it‌ We have handed it over in the interest of Nigerians and Nigeria

porting the collective decision to the state on the map of the world. Already, the governor said the first stage of the assignment “has been completed. And, the next stage is to kick-start the process of transforming Marina to the world’s foremost centre of tourism. Our resolve is to use tourism to drive economic growth.� United we stand Perhaps in the spirit of national unity, Buhari communicated the decision to cede the historical edifice on November 2016. He conveyed his approval in a letter his Chief of Staff, Mallam Abba Kyari, sent to Lagos State Government. However, the decision sprung up some power play, which according to reports, could have frustrated the process that the president had initiated before he went on his first medical vacation. At the peak of the power play, Ambode lamented what the state officials went through at the Federal Ministry of Power, Works and Housing and the Department of State Security (DSS), even after the president had directed that the edifice should be ceded to the state government. He also lamented how the power play painfully altered the plan of the state government for the presidential lodge. He said the presidential lodge “would have played a role in the state’s fiftieth anniversary. After three months President Buhari approved the release of the presidential lodge, we have

not taken possession. Rather, we have been tossed here and there. We are being frustrated. The approval of President Buhari should be honoured. We believe we should take possession so that we can take over.� At last, however, Buhari came to the rescue of Lagos. He gave a marching order to the Permanent Secretary in charge of the State House, Abuja. His order read thus: “I have promised, and I have ceded the State House, Marina, go, and carry out the process.� At this point, the power play abruptly ended, and the machinery of the apex government had no other option than obey presidential fiat. This was evident in the remark of Arabi at the signing of the MoU that epitomised the process of handing over the presidential lodge. Arabi acknowledged that he could not have questioned the president after he gave a marching order to ensure the release of the edifice. Of course, according to him, “I was commanded on the process of the handover, and I could not have asked what or why.� He, thus, likened the release of the presidential lodge “to the feeling of parents before giving out their daughter to a suitor. All parents often feel some pains when their daughter is ripe to go into union with her suitor. They would have considered what they invested on the daughter and held on to her. But the pleasant thing is that they will be more elated when they reaslise the husband is worthwhile.�

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FEATURES

L-R: Permanent Secretary, State House Abuja and representative of the federal government, Mr. Jalal Arabi; Secretary to the Lagos State Government, representing the State Government, Mr. Tunji Bello and the State Commissioner for Special Duties, Mr. Adeseye Oladejo, during the formal handover of the State House, Marina, to the Lagos State Government‌recently

Before the world, the permanent secretary acknowledged that the tale was a clear analogy of how functionaries at the Presidency felt when they heard that the presidential lodge would be ceded to the Lagos State Government. Indeed, he said, “we feel it.� However, according to him, “we strongly believe the State House, Marina, is going to a new husband that we know is capable to take care of it.� But beyond tale-telling, Arabi explained the rationale behind Buhari’s decision to let the edifice go. He thus said the Buhari administration “has ceded the presidential lodge in the spirit of oneness, unity and prosperity. We have handed it over in the interest of Nigerians and Nigeria. There was nothing special or extraordinary. The transfer is not new or not extraordinary. It is in the interest of one Nigeria.� A new dawn For Lagos State, the handover was a huge success, not just because it was completed. Rather, it was a success because it was a demonstration of inter-governmental cooperation. This was evident in Bello’s remarks. He said the official handover of the edifice “signposts an affirmation of the healthy intergovernmental relationship existing between federal and Lagos State Governments.� Bello, therefore, gave insight into what the presidential lodge represented in the history of Lagos. He, specifically, explained that the State House, Marina “represents one of the landmarks of the city of Lagos. So, the successful handover is an eloquent testimony to the new dawn of politics and inclusiveness the All Progressives Congress (APC) has brought to the political landscape of Nigeria.� Beyond its value to the cultural heritage of Lagos State, Bello assured the federal government and the state government would put the edifice to the best and most judicious use. He said the state government had already developed a comprehensive plan “to transform the historical edifice without compromising its structural integrity and preserving its architectural finesse and beauty.� Aside, Bello assured that the Ambode administration “will maintain the presidential lodge to become a tourist destination.� With what the state had mapped out for its preservation, Bello noted that residents of Lagos in particular and Nigerians in general

would not only be proud of the presidential lodge, but would equally prefer visiting the location to similar locations in other parts of the world.� For Ambode, a new era has dawned with the release of the presidential lodge. He said the handover perfectly reinforced the plan of his administration “to make Lagos Africa’s foremost hub for arts, entertainment and tourism.� He, thus, disclosed the plan “to redevelop the presidential lodge to accommodate The Heritage Centre for Leadership,� which had already been designed. Ambode explained the role of the Heritage Centre, which he said, would play in the future. He said the centre “will be a landmark research and tourist arena that will be open to local and international visitors.� He, also, disclosed the plan of the state government for Lagos State House, Marina, which according to him, would be redeveloped and transformed to The Lagos History Centre. He, also, disclosed that the State Executive Council “has already approved the Lagos House Marina to be turned into Lagos History Centre for tourism purposes. The Lagos History Centre “is next door to the Presidential Lodge, Marina.� he explained that the centre “will be a mark of honour to and celebration of all former governors of Lagos State, as well as for the benefit of humankind as a whole. With the release of the presidential lodge, Ambode said the Lagos State Government “will

For Ambode, a new era has dawned with the release of the presidential lodge. He said the handover perfectly reinforced the plan of his administration to make Lagos Africa’s foremost hub for arts, entertainment and tourism

transform the whole area into a culture zone in the next two to three years that every Lagos resident will be proud of. The two buildings will be nurtured as world-class monuments to compliment the ongoing larger plan that aims to transform the Marina-Onikan axis into a multi-sectorial culture zone.� He explained the plan for Marina-Onikan culture zone. He said it would include a skywalk that would connect Marina all the way “to the Freedom Park on Broad Street in order to offer the ultimate view of the ‘culture arcade’ that will emerge between Marina and Broad Street.� He explained that the axis would also accommodate a Tourist Welcome Centre, which according to him, would comprise a multi-layer car park, shopping mall, Lagos Aquarium Centre and other tourist facilities. Other federal assets Like the case of presidential lodge, Ambode has been engaging the federal government to return all the disused lands, buildings and disputed quarters it acquired when Lagos was the Federal Capital Territory. At the instance of law, the governor argued that all the federal assets under these classifications “are no longer in use for the purpose for which the federal government acquired it.� Ambode, thus, constituted a Special Committee on Federal Government Assets in Lagos State under the leadership of Chief Femi Okunnu. By implication, the governor obviously set it up to end jurisdictional disagreement between the federal and state governments over the disused lands, buildings and disputed quarters to which the former still laid claim within the territory of the latter. In its report, the committee had already determined the status and titles of the disused lands, buildings and disputed quarters that are still being occupied in the state. Such assets in include Federal Secretariat, International Trade Fair Complex, Banana Island, Osborn Foreshore, Festac Town, Satellite Town and the whole of Ikoyi with boundary at Lagos Canal standing between Ikoyi Island and Lagos Island. After submitting the report, Okunnu lamented the despicable conditions of the assets all over the state. Since the federal government had abandoned them, Okunnu argued that the assets should be returned “to the Government of Lagos for effective and proper usage. We have tried to argue

that the whole of Ikoyi with boundary at Lagos Canal standing between Ikoyi Island and Lagos Island.� Aside, Okunnu explained that title to the whole of the Islands “is vested in the Government of Lagos State when Lagos became Crown Colony. Title to the whole of Ikoyi including Osborn Foreshore, Banana Island is vested in the Government of Lagos State. We have covered other areas,� which he said, should not ordinarily be under the control of the Government of the Federation. For instance, Okunnu cited the case of Festac Town, which he said, belonged to the Government of Lagos. Under Crown Colony, Okunnu noted that the title to Festac Town “is vested in the Government of Lagos State. By implication, the Federal Housing Authority (FHA) is the tenant of the Government of Lagos State indeed. Also, the title to the Trade Fair site is vested in Lagos State.� He cited the case of International Trade Fair Complex, which he said, was acquired by the Government of Lagos State. When it indicated interest in the site of the fair, he noted that the federal government promised “to pay the state compensation which was to be paid to the original owners of the land.� The same was the case of Federal Secretariat, which he said, belonged to the Crown Colony. As in the case of the presidential lodge, Ambode demanded the return of all the disused lands, buildings and disputed quarters to which the federal government still laid claim within the territory of Lagos State. He provided three reasons the federal government had to return the disused assets to Lagos State. In this era of troubled economy, first, Ambode argued that returning these assets “will reflate its economy and improve its GDP of Lagos. It has become imperative that we must pursue this particular project to a laudable conclusion.� Second, the governor noted that the assets “assets are no longer in use for the purposes for which they were originally released to the federal government.� Ambode lamented their grave conditions. Already, their structural integrity has raised questions. Also, their value to the GDP is next to nothing. He, thus, hoped the report of the committee would get favourable response from the federal government now that the assets “are no longer in use for the purposes they were acquired.� He also hoped the initiative would end the long standing dispute.

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IMAGES

L-R; British Foreign Secretary, Boris Johnson MP; Corporate Relations Director, Viola Graham-Douglas and Managing Director, Peter Ndegwa both of Guinness Nigeria during a courtesy visit by the Foreign Secretary to Guinness Nigeria Ogba Brewery in Lagos-recently

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

L-R; Choirmaster, Christ Anglican Church Bariga, Mr. Olumide Osineye; Chairman 8th edition of the diocese of Lagos West Choral Competition, Mr. Adetunji Adesanya; Chairman of the occasion, Mr. Ayotunde Jagun; Chief Olusegun Osunkeye; and the Lord Bishop of Diocese of Lagos West, Anglican Communion, Rt. Revd. Dr. James Olusola Adedeji, during the prize presentation to Christ Anglican Church Bariga, as the winner of the competition in Lagos‌.recently sunday adigun

R-L: Former President, Institute of Chartered Accountant (ICAN), Mr. Emmanuel Ijewere and General Manager, Proudly Nigerian Campaign Organisation, Mr. Michael C. Abugo, during the installation ceremony of Mr. Ijewere as a Board Member of the organisation in Lagos... recently kolawole alli

L-R, Managing Director RB West Africa, :Rahul Murgai; Mother of Ngozichukwu, Mrs Opara; winner of IHAVEEVENTONE2 challenge, Ngozichukwu Opara and, Marketing Director, RB West Africa, Aliza Leferink during the presentation of the Hyundai 110 Car to the winner of the 2nd Edition of the campaign, in Lagos...recently

Founder Alder Consulting, Leke Alder; Chairman, Intergroup South Africa, Doug DeVillers; Group Managing Director, CMC Connect, Yomi Badejo-Okusanya; Group Managing Director, Verdant Zeal, Tunji Olugbodi and Company Secretary, First Bank Holdings, Tijani Borrodo, during the session on ‘Essence of Legal Branding’ at the 2017 Nigerian Bar Association (NBA) Annual Conference in Lagos...recently.

R-L; Swedish Exxpert Advisor, Dr. Sven-Thore Holme;,Vice Chancellor,University of Nigeria Nsukka, Prof B.C. Ozumba and Founder,Nigeria and Entrepreneurship:Summit & Honors( NESH ), Emeka Ugwu-Oju during a Stakeholders Luncheon to unveiled a Science Park Project initiated by the University of Nigeria, Nsukka at the Campus, Nsukka...recently

L-R; Former Deputy Governor of Lagos State, Princess Sarah Sosan; Former Vice Chancellor, University of Lagos and Recipient of the Tertiary Education Lifetime Award, Prof. Oye Ibidapo-Obe; His Wife, Mrs. Ibidapo-Obe and Deputy President, Lagos Chamber of Commerce and Industry (LCCI), Mr. Babatunde Ruwase during the Maiden Edition of the LCCI Education Group Excellence in Education Award In Lagos...recently.

L-R: Marketing and Corporate Communications Executive, FBNInsurance,Mr Bankole Banjo, Convener, Jakin NGO; Mrs Bukola Adebiyi,a beneficiary Ifeoluwa Korede and Senior Sales Manager, FBNInsurance; Salau Adewale at the presentation of back-to-school kits to 500 beneficiaries in the Jakin NGO’s Dress-A-Child-For-School project in Lagos.... recently.

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BUSINESSWORLD

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

ÍŻ Íś Í° ÍŽ ÍŻ Íľ NIBOR OVERNIGHT 1-MONTH

NIBOR 21.3750% 21.0038 %

3-MONTH 6-MONTH

22.5331% 24.6856%

NITTY 1-MONTH 3-MONTH

20.1827% 19.3855%

6-MONTH 9-MONTH

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EXCHANGE RATE N305.35//1US DOLLAR* ĚŠ

Quick Takes FICAN to Organise Annual Conference

PROMOTING AFRICAN CULTURE

L-R: Commissioner for Agriculture, Ptateau State, Lynda Barau; Organizer, Akwaaba African Travel Market and Exhibition, Mr. Ikechi Uko; Senator Florence Ita-Giwa; Capt. Irene Koki Mutugi of Kenya Airways and wife of the organizer, Mrs. Rita Uko, during the Women’s Day at 2017 Akwaaba African Travel Market and Exhibition at Victoria Island, Lagos ...recently kolawole alli

Nigeria, Others’ GDP Seen Growing at 5% in Next Five Years Obinna Chima One of the leading financial advisory firms in the world, UBS Wealth Management’s Chief Investment Office (CIO), has predicted that the Gross Domestic Product (GDP) of some economies in Africa, such as Egypt, Kenya and Nigeria, can comfortably grow at five per cent or more in the years ahead. The firm stated this in its latest report titled: ‘Africa – Cradle of diversity’. It noted that the region’s young and growing population and its prospering middle class would be the key to sustaining such high growth rates. For Nigeria, figures from the National Bureau of Statistics (NBS) last week showed that the economy exited recession

ECONOMY by expanding marginally in the second quarter (Q2) of the year. The NBS figures showed that the economy grew by 0.55 per cent (year-on-year) in Q2 2017. However, the UBS-CIO report stated that achieving sustainable economic growth would require necessary economic reforms, infrastructure investment and measures to encourage a more diversified economy continue and expand, especially in countries that are the least diversified, especially Nigeria. It further stated that fostering economic integration within the region and nurturing its role as a global manufacturing hub were two of the many exciting trends that would help shape Africa’s future.

For Nigeria, it held the view that Africa’s largest economy offers significant potential but it must widen its tax base and broaden its activities away from oil. It also argued that liberalisation of naira exchange rates will be crucial in attracting foreign investment. The report highlighted 64 nations the International Monetary Fund had projected to have average real GDP growth of more than four per cent in the next five years, stating that more than half are in Africa. According to the report, as Africa’s largest country both in terms of GDP and population, Nigeria offers enormous potential for the nation’s domestic market. The UN expects Nigeria’s population to reach up to one

billion people by 2100, offering unusual potential for growth. At the same time, population growth presents a significant challenge in terms of job creation for new labor market entrants and the nation’s geographic limitations, considering Nigeria’s territory is approximately the size of Texas. In addition, the UBS CIO research showed that indicators relating to governance and ease of doing business were clearly weaker than for peers, thus underpinning the need for reforms as foreseen in Nigeria’s Economic Recovery and Growth Plan. Decisive factors outlined in the report included efforts to broaden the country’s tax base and to diversify its economy. Continued on page 24

NIMC Registered 21.4 Million Nigerians in Five Years Emma Okonji The National Identity Management Commission (NIMC), on Monday, announced that it has so far registered about 21.4 million Nigerians into the National Identity Database and has issued them with the National Identification Number (NIN). The new enrolment figure was attained at September 6, 2017. However, out of the 21.4 million Nigerians that have been registered and issued NIN, the Commission is able to produce only 1.2 million cards, and not all the 1.2 million cards have been issued. Although it took NIMC five years to register over 21 million Nigerians, the registra-

ECONOMY tion process recorded increased speed in the last two years, from seven million registrations in November 2015, to 21.4 million registrations as at September 6, 2017. The Head, Corporate Affairs at NIMC, Mr. Loveday Ogbonna, attributed the speed of registration in the last two years to the current harmonisation of existing databases from Bank Verification Number (BVN) enrollment and SIM Card registration. According to Ogbonna, as at 2015, when the current Director General and Chief Executive of NIMC, Mr. Aliyu Aziz took

over as Director General and Chief Executive, the NIMC enrollment figure was seven million, but explained that the figure jumped to over 21 million within a space of two years. He said the ongoing harmonisation of existing databases helped the Commission to speed up registration exercise for identity cards, since the commission was aligning with BVN registration to register and issue Nigerians with NIN. Ogbonna also disclosed that the Commission had also setup more enrollment Centres across the 36 states of the federation and the FCT, bringing the number to about 805. With the deployment of additional enrolment centres,

Ogbonna said the NIMC is currently active in 556 Local Government Areas (LGAs), and is working to activate dormant centres in the remaining 218 LGAs in order to expand enrollment coverage. This, according to him, is in line with Aziz’s goal to register 28 million Nigerians into the database, by the end of December, 2017. According to him, the Commission had continued to record exponential growth in the population of the database, despite the challenges facing the Commission, even as the country gradually exists recession. In spite of the challenges and Continued on page 24

The President/Chief Executive of the Africa Finance Corporation (AFC), Mr. Andrew Alli and other leading experts in the ďŹ nancial sector are expected to proer solution to the challenges of infrastructure ďŹ nancing in the country, at the 2017 annual conference of the Finance Correspondents Association of Nigeria (FICAN). Others expected at the annual event which holds at the Orchid Hotels, Lekki, Lagos, on Saturday, 16th September, include the Managing Directors/Chief ExecutiveOďŹƒcersofHeritageBankPlc,Mr.IďŹ eSekibo;RandMerchant Bank, Mr. Micheal Larbie; SunTrust Bank Limited, Mr. Mohammed Jibrin; Viathan Engineering Limited, Mr. Ladi Sanni; as well as the Acting Director General of the Infrastructure Concession Regulatory Commission,Engr.ChidiKingsleyIzuwah.Thethemeoftheconference is: ‘Financing Nigeria’s Infrastructure: Issues, Challenges, and Options.’ FICAN, an association of ďŹ nancial journalists, in a statement, stressed that the place of infrastructure in economic and social development of a country cannot be over emphasised. Infrastructure ďŹ nancing, accordingtotheassociation,playscriticalrolesinpromotingeconomic growth,standardofliving,povertyreductionbyenhancingproductivity, improving competitiveness and linking people and organisations together through telecommunications. Infrastructure ďŹ nancing also contribute to environmental sustainability. Nigeria is currently faced with huge infrastructural gap that has hindered its earnest desire to exploit its rich natural and human resources for its development. For instance, in spite of the country’s huge oil and gas, sunlight and hydro resources, Nigeria cannot generate enough electricity to drive its development.

WFE Elects Directors

TheWorld Federation of Exchanges (WFE) has elected eight directors into its board. The election was at the 57th General Assembly of the WFE held in Bangkok, recently. The newly elected directors are: Chairman Wu Qing, Shanghai Stock Exchange – Chairman, WFE; Mr Gilson Finkelsztain, CEO, B3 (Brasil Bolsa BalcĂŁo) – Director, Americasregion;Mr.SandyFrucher,ViceChairman,Nasdaq–Director, Americas region; Chung Kong Chow, Chairman, Hong Kong Exchanges and Clearing – Director, Asia-PaciďŹ c region; Mr. Loh Boon Chye, CEO, Singapore Exchange – Director, Asia-PaciďŹ c region; and Mr Rashid bin Ali Al Mansoori, CEO, Qatar Stock Exchange – Director, EMEA region. Others are Mr. Khalid Abdullah Al Hussan, CEO, Saudi Stock Exchange (Tadawul) – Director, EMEA region; and Mr. Sunil Benimadhu, CEO, Stock Exchange of Mauritius – Director, EMEA region. Wu Qing, while commenting on the appointment said: “I am honoured to be elected as the Chairman of the WFE, and look forward to working with my colleagues over my term. “TheWFE, as the global voice of the exchanges and CCP industry, will continue to work with our members to address the most critical issues of the capital markets, and to fuel economic growth. “We will endeavour to promote sustainable development and encourage socially responsible investment. “I therefore feel privileged to steward the organisation towards its roadmap, with joint eorts from our members and the WFE oďŹƒce, led by Nandini Sukumar.â€?

Weather Positive for Ivory Coast Cocoa

Scattered rain and average sun in most of Ivory Coast’s main cocoa regions last week will boost growth of the main crop, but black pod disease is spreading in some areas due to cloudy weather, farmers said on Monday. The harvest for the October-to-March crop in the world’s top producer is expected to start as early as next week. Farmers said there were enough beans on the trees to last until December,butgoodweatherfromnowthroughOctoberwilldetermine whether the harvest extends into next year. Data collected by Reuters showed that in the past week rainfall in the centre-western Daloa region including Bouae reached 38.5 millimetres, or 8.5 mm above average. Rain in the western Soubre region including San Pedro and Sassandra was at 17.4 mm, or 0.7 mm above average, and in the western region of Man it was at 55.4 mm, 17.2 mm above average. Forecast average temperatures ranged from 25 to 28 degrees, slightly hotter than the week before. In the Soubre region, at the heart of the cocoa belt, farmers reported light rain and average sunny spells.

“I think we need to pay a lot of attention to agriculture; we need to pay a lot of attention to SMEs and most importantly, the power sector

GMD/CEO, Access Bank Mr. Herbert Wigwe

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BUSINESSWORLD NIGERIA, OTHERS’ GDP SEEN GROWING AT 5% IN NEXT FIVE YEARS Nigeria’s revenue base heavily relies on oil-related activities, which exposes the nation’s fiscal balance to energy price shocks and volatility risks. Nigeria is Africa’s largest oil exporter and while commodity exports remain a major growth driver in many African countries, their importance is slowly declining as domestic demand plays an expanding role in sustaining growth. Some of the continent’s fastest growing economies are concentrated in non-resource-rich countries like CĂ´te d’Ivoire, Senegal, Kenya and Ethiopia, which are expected to grow between seven per cent and eight per cent in the next few years. The report pointed out that the manufacturing industry was probably one of the most overlooked sectors in Africa, despite the continent’s potential to become the world’s next low-cost manufacturing hub and a leading global player in resource-intensive manufacturing. “Competitive labor costs, abundance of raw materials, convenient transit locations for export and large markets for local consumption position many African countries well to replace Asian competitors as attractive locations to produce goods and draw manufacturing foreign direct investment. NIMC REGISTERED 21.4 MILLION NIGERIANS IN FIVE YEARS constraints, the Director General, he added, has continued to manage the scarce resources, to ensure that the database is populated before commencing enforcement of the mandatory use of the NIN for all identity based transactions. The Director General had earlier warned that Nigerians who were yet to register and obtain the NIN issued by the Commission, run the risk of being regarded as non-Nigerian citizens in the next few years. Aziz who gave the warning in Lagos during a press conference organised by NIMC, advised Nigerians that are yet to register, to do so without further delay.

NEWS

FSDH Merchant Bank Seals Deal with AFIG Funds Nosa Alekhuogie

the AFIG Funds team over time, and most recently in the context of this transaction. We believe that the Bank stands to benefit from AFIG Funds’ extensive experience investing in financial institutions

across Africa. Importantly, we welcome their faith in the prospects of the Nigerian economy, backed by their experience identifying opportunities and investing in Nigeria and across the continent.�

She added: “FSDH provides an array of services including merchant banking, corporate banking, investment banking, asset management and pension fund management. The Bank’s success through the years has

been spurred by top quality service anchored on best practice governance, from the shareholders to the board of directors, which stands out by any standards across emerging markets.�

One of the financial services group in Nigeria, FSDH Merchant Bank Ltd, recently revealed that Advanced Finance and Investment Group (AFIG Funds), a leading African private equity fund management company has, through the Atlantic Coast Regional Fund (ACRF), completed an investment deal it. According to a statement released by the company, the Chief Executive Officer, AFIG Funds, Mr. Papa Madiaw Ndiaye, expressed his delight over the investment stating that: “We are pleased to become a shareholder in FSDH, a well-established financial services group in Nigeria with exciting growth prospects, and a long track record of strong performance. We look forward to working with the Bank’s management, the board of directors, and the other shareholders to support the Bank in achieving its ambitious objectives.â€? Also, the Managing Director, FSDH Merchant Bank, Ms. Hamda Ambah commented: “We are delighted to welcome AFIG Funds as a shareholder of the Bank. We have built L-R: Member, Board of Trustees(BoT), Fund Managers Association of Nigeria (FMAN), Mr. Deji Alli; President, Dr. Ore Sofekun, FMAN; a strong relationship with and another member of BoT, Mr. Adedotun Sulaiman, at the annual general meeting of the association in Lagos‌recently sunday adigun

FUND MANAGERS PARLEY

Aviation Body Backs Establishment of National Carrier Chinedu Eze A think-tank body known as Aviation Round Table Initiative (ARTI), has expressed support for the establishment of national carrier but noted that such airline must be fully funded by the private sector and not by government or its agencies. The body, which observed that weak government policies were responsible for the failure of domestic airlines, said that this form of funding for the airline would ensure its survival and independence from interferences as well as ensure it operates professionally. In a statement issued at the weekend and signed by Olu Ohunayo on behalf of the Initiative, ARTI said it

supports the establishment of national carrier that is devoid of government financial input but driven strictly by investors, noting that government should provide the necessary enabling ground and aero-political support environment. “ARTI support for this project is hinged on our recognition of the desirability of a national carrier and the observed floundering of our flag carriers on the international routes. These shortcomings are traceable to weak government policies and poor negotiations skills in various agreements. “Therefore, the proposed national carrier should be granted full compliments of the appropriate status, independence to be the arrow head in the implementation of

operational issues arising from Bilateral Air Service Agreement (BASAs) and Multilateral Air Service Agreement (MASAs) to which Nigeria is a signatory unhindered by any concessions or agreements however made,� the body said. It also noted that all existing concessions and agreements from which benefits are being derived by any person or corporate bodies capable of impinging on the operations of the proposed national carrier should cease forthwith at the inception of the national carrier. ARTI urged that any outstanding obligations arising from agreements made prior to the emergence of the national carrier must be renegotiated between the national carrier and such flag carrier, which would be supervised by

the Nigerian Civil Aviation Authority (NCAA). The corporate objective of the proposed carrier should be consistent delivery of excellent and competitive customer service; adopting global best standard practices; reciprocating all air service agreements and patriotically negotiated commercial agreement spinoff of BASA. “We expect the government to take the following complimentary actions: it is vital that very knowledgeable aviators with cognate experience are selected to midwife the birth of the new national carrier; the governing board of directors of the national carrier should be composed of persons with proven track records of success in the aviation industry; the berthing process should last

for a period not less than three years from inception and the national carrier should start with a fleet of 10 to 15 aircraft and shall be mandated to utilise the proceeds of all allocated frequencies strictly for fleet expansion and capacity building. This shall be monitored for compliance by NCAA,� ARTI said. It also suggested that existing operators in the industry should be afforded the opportunity to observe and participate in the proposed national carrier project within stipulated guidelines and transparent process, adding that BASAs and MASAs should be reviewed with the objective of renegotiation where established to be unfavourable to Nigeria’s national interest.

Med-View to Airlift 17,000 Pilgrims Back Home Group Business Editor

Ă’Ă“Ă•Ă‹ Ă—Ă‹Ă˜Ă¤Ă?Ě‹ ĂĄĂ‹Ă?Ă’Ă&#x;Ă•Ă&#x; AgriBusiness/Industry Editor

Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor

Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Capital Market Editor

ÙÎÎã Ă‘Ă?Ă˜Ă? Senior Correspondent

Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents

Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Cap Mkt) ÔÓÙĂ?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Nation’s Capital) ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ (Money Mkt) Chineme Okafor (Energy ) Reporters

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Chinedu Eze Rising domestic carrier, MedView Airline has announced that from September 10, it would commence the airlift of pilgrims from Saudi Arabia back to Nigeria. Chief Executive Officer of the airline, Alhaji Muneer Bankole, who disclosed this at the weekend said that over 17,000 pilgrims would be airlifted back home and assured that the return trips would be completed in two weeks. The airline airlifted pilgrims from Lagos, Oyo, Osun, Kaduna,

Kwara, as well as South-South and South-East states. It also airlifted thousands of pilgrims of tour operators under the aegis of Association of Hajj and Umrah Operators of Nigeria (AHUON) from Lagos, Kaduna and Kano zones. Med-View also conveyed pilgrims to the Kingdom of Saudi Arabia from Djibouti and Guinea Bissau. Bankole, in a chat with journalists on the commencement of return journeys said three aircraft – Boeing B747- 400; B777-200 and B767-300 would be deployed to return the pilgrims back home.

According to him, the airline had in the last 11 years of its involvement in Hajj operations airlifted 350,000 pilgrims without any hitch. He also advised the National Hajj Commission of Nigeria (NAHCON) to avoid last minute approach in planning for the annual pilgrimage exercise to make it smooth and seamless for the pilgrims. “What I always believe in is to appreciate God Almighty first and second is to thank my team, my colleagues for their dedication, commitment. It is not me that is running the show. It is everybody and you can see the commitment.

“Before we closed the shop last year, we have already planned for 2017. We got all the necessary documentations passed across to GACA (General Authority of Civil Aviation) and every organization in Saudi Arabia. So it makes it a piece of cake. So closing from Nigeria on time is part of the planning. We deployed three aircraft- 747- 400; B777-200 and B767-300 for the Hajj,� Bankole said. The CEO of Med-View addressed NAHCON and said: “We should learn from what they do in Tabung Haji, the Malaysian Hajj authority, the

Indonesians, they have over 220,000 pilgrims, no issue. We shouldn’t be the last to do the planning. What we are doing in 2019, we should be talking about it in 2017, two years ahead planning. We have to desist from this approach of last minute’s game plan. “This is the advice I will give to NAHCON and other stakeholders. We should work ahead of time. So if we do early planning, get your normal details, then we are back home. We have to learn from each lesson of every Hajj, it comes with its own peculiar problems and from this we get there.�

T H I S D AY ˾ ˜ ͯͱ˜ Ͱͮͯ͵

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NACCIMA Commends SON Capacity Devt Towards Import, Export Stories by Jonathan Eze The National Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA), has commended the Standards Organisation of Nigeria (SON) capacity development to support import and export in Nigeria. President of the Association, Mrs. Alaba Lawson, gave the commendation in Lagos while welcoming the Director General of SON, Mr. Osita Aboloma to the Inauguration of special committees for the running of the association’s affairs. She acknowledged the added value that the SON internationally accredited Laboratories would provide for import and export in Nigeria, particularly for agricultural products. She expressed the backing of NACCIMA for SON planned implementation of a products authentication scheme before the end of the year. She asserted that such scheme was

long overdue to tackle the challenge of products cloning and adulteration. According to her, the long standing collaboration of SON with NACCIMA will be further enhanced during her tenure as President. She thanked the SON DG for his demonstrated commitment to standardisation and quality assurance ideals since his assumption of office. She then decorated the SON Director General as honorary member of NACCIMA. Speaking earlier, Aboloma sought the input of NACCIMA as a major stakeholder in the planned introduction of a product authentication scheme by SON before the end of the year. He described NACCIMA members as critical Stakeholders in standardisation, urging them to participate more in development and review of Nigerian Industrial Standards

for products and services. Aboloma also invited NACCIMA members to join SON and other stakeholders in actively participating in international standards development. Presenting a paper on ‘Importance of Quality Adherence to Imports/Exports in Nigeria’, at the occasion, SON Head of Product Certification, Mr. Tersoo Orngudwem, urged NACCIMA members to take optimum advantage of the SON internationally accredited laboratories for import and export. This, he said will substantially reduce the incidence of export rejection and dumping of substandard products on Nigeria. According to him, SON has over the years developed requisite capabilities in testing for export through its robust relationships with other National Standards bodies across the globe as members of the International Organisation for Standardisation (ISO).

Global Agencies Committed to Fighting Food Insecurity in Nigeria, Africa Executive Secretary of Economic Commission for Africa, Vera Songwe, has met with the principals of the Food and Agriculture Organisation (FAO), World Food Programme (WFP) and the International Fund for Agricultural Development (IFAD) and agreed to work closely with them in a number of areas, including statistics as they seek to address food insecurities on the African continent. The four leaders agreed to strengthen their relationship so they can effectively deal with food security issues on the continent, with more focus and emphasis being put on areas such as statistics, policy development and land with a view to improving agricultural productivity. The meeting is an acknowledgment that the three United Nations Rome-based agencies offer a vast range of knowledge, financial and technical expertise on issues related to food security, agriculture and nutrition. The ECA on the other hand, also has a comparative advantage of a broad knowledge base in discharging its mandate

of promoting the economic and social development of its member States, fostering intra-reginal integration and international cooperation for Africa’s development. Songwe, gave the assurance that the ECA was ready to deepen its collaboration with the three organisations, adding the fact that the leaders of the Rome-based UN agencies were in Ethiopia at the same time was a strong indication of how important the issue of food security on the continent was to them. “Under one roof, we have combined knowledge on climate change, food security, and conflict. These issues are relevant for the challenges we face such as migration must be tackled in a comprehensive way,” she said. “We have been collaborating already with the three agencies and there’s a lot that can be done if we pull our resources together”, she added. Songwe also said the ECA was ready to contribute to the partnership on the policy side and training in particular as the organisations work together in their quest to achieve zero hunger on

the continent. She also emphasised the need for data and statistics to help guide agriculture and land policy, adding this was crucial for the gender agenda and to crowd in private investment. “This is a great example of how we can work together and move forward as one with one goal as we talk about peace, security, development and the sustainable development goals,” she added. On his part, WFP Executive Director, David Beasley, said achieving food security was of utmost importance to Africa. “Africa has got a lot of problems, but there are also a lot of successes,” he said, citing Ethiopia as a country with both great successes and great challenges. He said it was sad that over 10 million people on the continent face hunger on a daily basis in Africa. “If we are going to see zero hunger by 2030, which will not happen – it’s an absolute impossibility with wars and man-made conflicts – because 80 per cent of our funding now is in war zones and that distracts funding from sustainable development.”

Agro-allied Firm Expresses Readiness to Partner Govt on Food Production An agro-allied company, Elephant Group Plc, has reaffirmed its commitment to ensuring adequate food production in line with the Federal Government’s mission of self-sufficiency in food and the diversification of the economy with emphasis on agriculture. The group added that it is determined to support the agriculture sector and boost incomes and job-led growth.

Its Group Managing Director, Mr. Tunji Owoeye, said, in a statement, signed by the company’s Media Consultant, Mr. Babatunde Ajibola that “Our mission is to offer the best of our experience in agriculture , garnered over the years into planting and producing adequate food for the people in order for the nation to be self-sufficient in food production, since as we

all know, the government is striving to make agriculture the main stay of the economy; we are all out in ensuring this becomes a reality.” Its Executive Director, Mr. Akin Ogunbiyi, restated the group’s commitment to making food sufficiency a reality within the shortest time. He enjoined the people to join hands with the government to make the vision a reality.

ELEVATING TO THE NEXT LEVEL Marie-Therese Phido

Are YouThinking About Your Legacy and Succession? I attended a function this weekend. It was the 60th party celebration of a notable entrepreneur in the Nigerian business environment who has made her mark in her area of specialisation. At this function, she announced that she would no longer be running her business but was handing over from Monday to someone else whose name was announced and grandly presented to us.

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˾Generational transition: ØÖã Ë ÞÒÓÜÎ ÙÐ ËÖÖ ÐË×ÓÖã ÌßÝÓØÏÝÝÏÝ ÝßÍÍÏÝÝÐßÖÖã ×ËÕÏ ÞÒÏ ÞÜËØÝÓÞÓÙØ ÞÙ ÞÒÏ ÝÏÍÙØÎ ÑÏØÏÜËÞÓÙØ˛ ÒÏ ÏâË×ÚÖÏÝ ËÌÙàÏ ÍÖÏËÜÖã ÝÒÙá ÞÒËÞ ËÍÒÓÏàÓØÑ ÞÒÓÝ ÞÜËØÝÓÞÓÙØ ÓÝ ÍÒËÖÖÏØÑÓØÑ˛ ÙáÏàÏܘ ÝÙ×Ï ØÙÞËÌÖÏ ÐË×ÓÖÓÏÝ ËÜÏ áÙÜÕÓØÑ ÙØ ÏØÝßÜÓØÑ ÞÒËÞ ÞÒÓÝ ÞÜËØÝÓÞÓÙØ ÓÝ ÝßÍÍÏÝÝÐßÖ ÐÙÜ ÞÒÏÓÜ ÐË×ÓÖã ÙáØÏÎ ÌßÝÓØÏÝÝÏÝ ÓØ ÓÑÏÜÓË ËØÎ áÏ ËÜÏ ÜÙÙÞÓØÑ ÐÙÜ ÞÒÏײ ˾Alignment of family interests: ÖÓÑØ×ÏØÞ ÙÐ ÓØÞÏÜÏÝÞÝ ÌÏÞáÏÏØ ÍßÜÜÏØÞ ÙáØÏÜÝ ËØÎ ÙÞÒÏÜÝ ÌÏÍÙ×ÏÝ ×ÙÜÏ ÚÜÙØÙßØÍÏÎ ËÝ ×Ï×ÌÏÜÝ ÜÏÞÓÜÏ ËØÎ ÞßÜØ ÙàÏÜ ÞÒÏ ÜÏÓØÝ ÞÙ ÞÒÏ ØÏá ÑÏØÏÜËÞÓÙؘ áÒÓÖÏ ËÞ ÞÒÏ ÝË×Ï ÞÓ×Ï ÖÙÙÕÓØÑ ÞÙ ÞÒÏ ÍÙ×ÚËØã ÐÙÜ ÞÒÏÓÜ ÜÏÞÓÜÏ×ÏØÞ ÓØÍÙ×Ï˛ ˾Balancing of financial returns˝ ÜÏËÞÓØÑ ÌßãÙßÞ ËÑÜÏÏ×ÏØÞÝ ÓÝ ÍÒËÖÖÏØÑÓØÑ˛ ÒÏØ ÞÒÏ ÜÏÞÓÜÓØÑ ÑÏØÏÜËÞÓÙØ ÖÙÙÕÝ ÞÙ ÞÒÏ àËÖßÏ ÙÐ ÞÒÏÓÜ ÓØÞÏÜÏÝÞ˜ ÞÒÏã ÝÙ×ÏÞÓ×ÏÝ ÞÏØÎ ÞÙ ÖÙÙÕ ÞÙ Ë ÌËÖËØÍÏ ÝÒÏÏÞ Øß×ÌÏܲ Ø ÐËÍÞ˜ ÞÒÏ ÞÜßÏ àËÖßÏ ÙÐ Ë ÌßÝÓØÏÝÝ ÝÒÙßÖÎ ÚÜÙÌËÌÖã ÌÏ ÌËÝÏÎ ÙØ ËØ ÏËÜØÓØÑÝ ÍËÚÓÞËÖÓÝËÞÓÙØ ×ÙÎÏÖ˜ Ë ÍÙØÍÏÚÞ ßØÐË×ÓÖÓËÜ ÞÙ ×ËØã Ý×ËÖÖÏÜ ÐË×ÓÖã ÍÙ×ÚËØÓÏݲ ˾ Interfamily disputes˛ ÒÏ ÓØÞÏÜÏÝÞ ÙÐ ÙØÏ ÐË×ÓÖã ×Ï×ÌÏÜ ×Ëã ØÙÞ ÌÏ ËÖÓÑØÏÎ áÓÞÒ ËØÙÞÒÏÜ ÐË×ÓÖã ×Ï×ÌÏܲ ÒÏÝÏ ÝÓÞßËÞÓÙØÝ ÍËØ ÌÏÍÙ×Ï ÏàÏØ ×ÙÜÏ ÎÓʩÍßÖÞ ÓØ ÓÑÏÜÓ˘ áÒÏÜÏ áÏ ÒËàÏ ÚÙÖãÑË×ÙßÝ ÐË×ÓÖÓÏÝ ËØÎ àËÜÓÙßÝ ÓØÞÏÜÏÝÞÝ ÞÒËÞ ËÜÏ ËÞ ÚÖËã ÞÒËÞ ×Ëã ØÙÞ ØÏÍÏÝÝËÜÓÖã ÌÏ ÓØ ÞÒÏ ÌÏÝÞ ÓØÞÏÜÏÝÞ ÙÐ ÞÒÏ ÙÜÑËØÓÝËÞÓÙØ˛

Ø àÓÏá ÙÐ ÞÒÏ ËÌÙàϘ ÓÝ ÏÝÝÏØÞÓËÖ ÞÒËÞ ËÖÖ ÏØÞÜÏÚÜÏØÏßÜݘ ÏÝÚÏÍÓËÖÖã ÞÒÙÝÏ ÙÐ ßݘ ÓØÞÏÜÏÝÞÏÎ ÓØ ÖÏËàÓØÑ Ë ÖÏÑËÍã ÌÏÒÓØÎ ÝÞËÜÞ ÞÙ ÞÒÓØÕ ËÌÙßÞ ÚßʵÓØÑ ÝÞÜßÍÞßÜÏÝ ÓØ ÚÖËÍÏ ÐÙÜ ÝßÍÍÏÝÝÓÙØ ÚÖËØØÓØÑ ÓØ ÙßÜ ÌßÝÓØÏÝÝÏݲ ÏÙÜÑÏ ÞËÖÕ ËØÎ ÏØÜã ÙÖÏã˪ݘ ËÜàËÜÎ ßÝÓØÏÝÝ ÏàÓÏá ËÜÞÓÍÖÏ ÞÓÞÖÏΘ ˫ àÙÓÎ ÜËÚÝ ÒËÞ ËØ ÏÝÞÜÙã Ë×ÓÖã ßÝÓØÏÝÝÏÝˬ ËÎàÓÝÏÎ ÙØ ÞÒÏ ØÏÏÎ ÞÙ ËàÙÓÎ ÞÒÏ ÐÙÖÖÙáÓØÑ ÞÜËÚݲ Trap #1: “There’s Always a Place For You Here” Ù×Ï ÚÜÙÚÜÓÏÞÙÜÝ ÙÐ ÐË×ÓÖã̋ÙáØÏÎ ʨÜ×Ý ×ËÕÏ ÞÒÏÓÜ ÍÒÓÖÎÜÏØ ÐÏÏÖ ÙÌÖÓÑËÞÏÎ ÞÙ ÔÙÓØ ÞÒÏ ÍÙ×ÚËØ㘠áÒÓÍÒ ÍËØ ÌËÍÕʨÜÏ Ìã ÍÜÏËÞÓØÑ Ë ÍÜÙÚ ÙÐ ×ËØËÑÏÜÝ áÒÙ ËÜÏØ˪Þ ÓØÞÏÜÏÝÞÏÎ ÓØ ÌÏÓØÑ ÞÒÏÜÏ˛ ÙÜÏ ÙʰÏؘ ÞÒÙßÑÒ˜ áÏ ÝÏÏ ÚËÜÏØÞÝ Ï×ÚÒËÝÓÝÏ ÞÒËÞ ÞÒÏÓÜ ÙʥÝÚÜÓØÑ ËÜÏ ÐÜÏÏ ÞÙ ÔÙÓØ ÞÒÏ ÌßÝÓØÏÝÝ ËØÎ ÝÙ×ÏÞÓ×ÏÝ ÎÏ×ËØÎ ÓÞ˛ Ð ÞÒÏ ÍÙ×ÚËØã ÓÝ ÝßÍÍÏÝÝÐßÖ˜ ÞÒÙÝÏ ÍÒÓÖÎÜÏØ ËÜÏ ÖÓÕÏÖã ÞÙ ÒËàÏ ÌÏÏØ ÜËÓÝÏÎ Ë×ÓÎ áÏËÖÞÒ˜ áÒÓÍÒ ÌÜÙËÎÏØÝ ÞÒÏÓÜ ÍÒÙÓÍÏÝ ËÝ ËÎßÖÞݲ ÏØÏÜËÖÖã ÞÒÓÝ ÝÓÞßËÞÓÙØ ÞÜËØÝÖËÞÏÝ ÓØÞÙ ËØ ßØÝÚÙÕÏØ ÚÜÙ×ÓÝÏ ÞÒËÞ ˫ÞÒÏÜÏ˪Ý ËÖáËãÝ Ë ÚÖËÍÏ ÐÙÜ ãÙß ÒÏÜϘˬ áÒÓÍÒ ÍËØ ÖÏËÎ ÍÒÓÖÎÜÏØ ÞÙ ÞÜÏËÞ ÞÒÏ ÌßÝÓØÏÝÝ ËÝ Ë ÐËÖÖÌËÍÕ ÙÚÞÓÙØ ËØÎ ËÜÏ ßØÚÜÏÚËÜÏÎ Ìã ÞÒÏ ÞÓ×Ï ÞÒÏã ÔÙÓØ˛ ÏÝÚÓÞÏ ÞÒÏÓÜ ÖËÍÕ ÙÐ ÏâÚÏÜÓÏØÍϘ ÞÒÏÝÏ ÙʥÝÚÜÓØÑ ×Ëã ËÝÍÏØÎ ÞÙ ÖÏËÎÏÜÝÒÓÚ ÚÙÝÓÞÓÙØÝ ÌÏÍËßÝÏ ÙÐ ÞÒÏ ÐË×ÓÖã ÍÙØØÏÍÞÓÙؘ ÓØÍÜÏËÝÓØÑ ÞÒÏ ÍÒËØÍÏÝ ÞÒËÞ ÞÒÏ ÌßÝÓØÏÝÝ áÓÖÖ ÐËÓÖ˛ Ù ÏÝÍËÚÏ ÞÒÓÝ ÞÜËÚ˝ ØÝÓÝÞ ÙØ ÚÜÙÚÏÜ ÞÜËÓØÓØÑ ËØÎ ÝÍÜÏÏØÓØÑ˛ ÒÓÝ ÝËá ÓØ ÞÒÏ ËÍÞÓàÓÞÓÏÝ ÙÐ ÞÒÏ ÌßÝÓØÏÝÝ ÙáØÏÜ ÞÒËÞ ÞÜËØÝÓÞÏÎ ÒÏÜ ÌßÝÓØÏÝÝ ÞÒÓÝ áÏÏÕÏØβ ÒÏ ÒËÎ ÌÏÏØ ÑÜÙÙ×ÓØÑ ÒÏÜ ÎËßÑÒÞÏÜ ÐÙÜ Ë áÒÓÖÏ Ìã ÏâÚÙÝÓØÑ ÞÒÏ ÍÙ×ÚËØã ÞÙ ÒÏÜ ËÞ ËØ ÏËÜÖã ËÑϘ ×ËÕÓØÑ ÝßÜÏ ÝÒÏ ÒËÎ ÞÒÏ ÜÓÑÒÞ ÛßËÖÓʨÍËÞÓÙØÝ ÐÙÜ ÞÒÏ ÌßÝÓØÏÝÝ ËØÎ ÒËÎ ÏâÚÏÜÓÏØÍÏ ÓØ ÞÒÏ ÌßÝÓØÏÝÝ ÐÜÙ× ÞÒÏ ÌÙʵÙ× ÜßØÑ ÞÙ ÞÒÏ ÞÙÚ˛ Ù×Ï ÐË×ÓÖÓÏÝ ×ËÕÏ ÝßÜÏ ÞÒËÞ ×Ï×ÌÏÜÝ áÒÙ ÝßÍÍÏÏÎ ÞÒÏ× ËÖÝÙ ÒËàÏ ÜÏÛßÓÝÓÞÏ ÏâÚÏÜÓÏØÍÏ ÐÜÙ× ØÙÞËÌÖÏ ÌÜËØÎÝ ÓØ ÞÒÏÓÜ ʨÏÖÎ ÌÏÐÙÜÏ ÞÒÏã ÔÙÓØ ÞÒÏ ÐË×ÓÖã ÌßÝÓØÏÝÝ ÞÙ ÑËÓØ ÌÏÝÞ ÚÜËÍÞÓÍÏ ÏâÚÏÜÓÏØÍÏ˛ Trap #2: The Business Can’t Grow Fast Enough to Support Everyone Ø ßØÎÏÜËÚÚÜÏÍÓËÞÏÎ ÚÜÙÌÖÏ× ÓÝ ÞÒËÞ ÐË×ÓÖÓÏÝ ÙʰÏØ ÑÜÙá ×ÙÜÏ ÛßÓÍÕÖã ÞÒËØ ÞÒÏÓÜ ÌßÝÓØÏÝÝÏÝ ÎÙ˛ ËØã ÌßÝÓØÏÝÝÏÝ ÝÓ×ÚÖã ÎÙØ˪Þ ÒËàÏ ÏØÙßÑÒ áÙÜÕ ÞÙ Ï×ÚÖÙã ÏàÏÜã ÐË×ÓÖã ×Ï×ÌÏܲ Ù ÏÝÍËÚÏ ÞÒÏ ÞÜËÚ˝ ËØËÑÏ ÐË×ÓÖã ÏØÞÜã ËØÎ ÝÍËÖÏ ÐÙÜ ÑÜÙáÞÒ˛ Ë×ÓÖÓÏÝ ÞÒËÞ ÒËàÏ ËàÙÓÎÏÎ ÜËÚ ͭͯ Ìã ÏØÝßÜÓØÑ ÞÒËÞ ÙØÖã ÍÙ××ÓʵÏΘ ÛßËÖÓʨÏÎ ÜÏÖËÞÓàÏÝ ËÜÏ ËÖÖÙáÏÎ ÞÙ ÔÙÓØ ÞÒÏ ʨÜ× ÒËàÏ ËÖÜÏËÎã ÜÏÎßÍÏÎ ÞÒÏ ×ËÑØÓÞßÎÏ ÙÐ ÜËÚ ͭͰ˛ ØÙÞÒÏÜ ÝÙÖßÞÓÙØ ÓÝ ÞÙ ÎÏàÏÖÙÚ ÝÞÜËÞÏÑÓÏÝ ÞÙ ÑÜÙá ÞÒÏ ÌßÝÓØÏÝÝ ËØÎ ÍÜÏËÞÏ ÜÏÝÚÙØÝÓÌÓÖÓÞÓÏÝ ÐÙÜ ËÎÎÓÞÓÙØËÖ ÐË×ÓÖã Ï×ÚÖÙãÏÏݲ

Trap #3: Family Members Remain in Silos ØÏ ÙÐ ÞÒÏ ×ÙÝÞ ÝÞÜÓÕÓØÑ ÞÒÓØÑÝ ËÌÙßÞ ÐË×ÓÖã ÌßÝÓØÏÝÝÏÝ ÓÝ ÞÒÏ ÞÏØÎÏØÍã ÞÙ ÝÚÏÍÓËÖÓÝÏ ÓØ ÞÒÏ ÝË×Ï ËÝÚÏÍÞ ÙÐ ÞÒÏ ÌßÝÓØÏÝݘ áÒÏÞÒÏÜ ÓÞ˪Ý ʨØËØÍϘ ÙÚÏÜËÞÓÙØݘ ÙÜ ×ËÜÕÏÞÓØÑ˛ ÒÓÝ ÍËØ ÌÏ ÚÜÙÌÖÏ×ËÞÓÍ ÐÙÜ ÝÏàÏÜËÖ ÜÏËÝÙØݲ ÓÜÝÞ˜ Ìã ÝÞËãÓØÑ ÓØ ÝÚÏÍÓËÖÓÝÏÎ ÝÓÖÙݘ ØÏâÞ̋ÑÏØÏÜËÞÓÙØ ×ËØËÑÏÜÝ ÐËÓÖ ÞÙ ÑËÓØ ÞÒÏ ÍÜÙÝÝ̋ÐßØÍÞÓÙØËÖ ÏâÚÏÜÞÓÝÏ ØÏÏÎÏÎ ÐÙÜ ÏâÏÍßÞÓàÏ ÖÏËÎÏÜÝÒÓÚ˛ ÏÍÙØΘ áÒÏØ ÍÖÙÝÏ ÐË×ÓÖã ×Ï×ÌÏÜÝ ÝßÚÏÜàÓÝÏ ÙØÏ ËØÙÞÒÏܘ ÞÒÏ ÚÏÜÝÙØËÖ ÎãØË×ÓÍ ÍËØ ÚÜÏàÏØÞ ÍËØÎÓÎ ÐÏÏÎÌËÍÕ ËØÎ ÓØÞÏÜÐÏÜÏ áÓÞÒ ÍÙËÍÒÓØÑ˛ ÙÑÏÞÒÏÜ ÞÒÏÝÏ ÐËÍÞÙÜÝ ÍËØ ÍÜÏËÞÏ Ë ÖÏËÎÏÜÝÒÓÚ àËÍßß× ÓØ ÞÒÏ ßÚ̋ËØÎ̋ÍÙ×ÓØÑ ÑÏØÏÜËÞÓÙØ˛ ÒÓÝ ×Ëã ÚÜÙ×ÚÞ ÞÒÏ ÍßÜÜÏØÞ ÑÏØÏÜËÞÓÙØ ÞÙ ÝÞËã ÓØ ÞÒÏ ÞÙÚ ÚÙÝÓÞÓÙØÝ ÞÙÙ ÖÙØј ÖÓ×ÓÞÓØÑ ÞÒÏ ÍÙ×ÚËØã˪Ý ËÎËÚÞËÌÓÖÓÞã ÞÙ ÍÒËØÑÏ˛ Ù ÏÝÍËÚÏ ÞÒÏ ÞÜËÚ˝ ÚÚÙÓØÞ ØÙØеÐË×ÓÖã ×ÏØÞÙÜݲ Ù ÝßÜàÓàÏ ÙàÏÜ ÞÒÏ ÖÙØÑ ÒËßÖ˜ ÐË×ÓÖã ÌßÝÓØÏÝÝÏÝ ØÏÏÎ ÞÙ ËÎÙÚÞ ÐÙÜ×ËÖ ÚÙÖÓÍÓÏÝ ËÌÙßÞ áÒÙ× ÞÙ Ï×ÚÖÙ㘠áÒÙ× ÞÙ ÚÜÙ×ÙÞϘ ËØÎ ÒÙá ÞÙ ÌËÖËØÍÏ ÐË×ÓÖã ËØÎ ÌßÝÓØÏÝÝ ÓØÞÏÜÏÝÞݲ – Marie-Therese Phido is Sales & Market Strategist and Business Coach Email: mphido@elevato.com.ng tweeter handle @osat2012 TeL: 08090158156 (text only)

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PZ Cussons Nigeria Beats the Odds Despite stiff competition, lower consumer demand, and the high cost of doing business, PZ Cussons Nigeria Plc has reported improved earnings for the year ended May 31 2017, writes Goddy Egene One of the problems many manufacturers of consumer products face is competition, as smuggled products are sold cheaper than those locally produced. The smuggled products are cheaper because they get into Nigerian market through unofficial means without paying the required tariffs. Hence, when companies operating legally pay high tariffs and taxes to bring their products to the market at higher costs and receive low patronage, the smuggled goods are cheaper and get well high patronage. Listed companies in the manufacturing sector of the Nigerian Stock Exchange (NSE) have been contending with this challenge of stiff competition from companies that neither have factories in the country nor produce the goods but merely import them through illegal means. The poor economic situation of last year compounded the problems as consumers’ income became affected. Consequently, the revenue and profitably of many companies were negatively impacted. However, adopting various strategies, some of the companies are beating the competition and delivering improved results. One of the companies is PZ Cussons Nigeria Plc that reported its financial results for the year ended May 30, 2017. Financial performance PZ Cussons Nigeria Plc posted a revenue of N79.65 billion, up by 14.5 per cent from N69.52 billion posted in 2016. But in line with the high inflationary trend during the review period, cost of sales went up from N49 billion to N51 billion, while sales and distribution expenses rose from N8.825 billion to N9.09 billion. However, net finance cost fell from N387 million to N195 million. Consequently, profit before tax stood at N4.811 billion in 2017, up from N3.148 billion, while profit after tax grew to N3.886 billion, from N2.129 billion in 2016. The directors have recommended a dividend of N1.98 billion, which is 50 kobo per share for the shareholders. According to the company, it has adapted its management structures to create a truly customer care organisation, saying as part of a global organisation, it has benefitted from global innovations and initiatives of the group. “In this breadth, our supply chain processes and sales functions have been integrated as a single structure across the globe and across the region,� it said. PZ Cussons Nigeria noted that it is confident of its brands which are leading in the market segments they participate. “We are going to sustain the current initiatives that have proved to be positive and effective. We will also keep the focus on key brands,� it said. Meanwhile, trading at the stock market was bullish for the first time in five days following the return of the bulls yesterday. Analysts’ assessment Reviewing the performance, analysts at Cordros Capital Limited, said the revenue of N79.6 billion slightly beat their N79.1 billion estimate while the PAT of N3.3 billion is marginally below the N3.4 billion we estimated. They explained that for fourth quarter (Q4) 2017 (March-May), the revenue growth of 19.1 per cent beat their 16.3 per cent estimate while the PAT growth of 370.7 per cent was ahead of their estimate of 349.2 per cent owing to the significantly lower effective tax rate (15 per cent vs. our estimate of 32 per cent) reported during the period. “The Q4 result capped the impressive recovery in the group’s performance which began from the second quarter. Higher selling prices, combined with seasonality effect, accounted for the strong double-digit top-line growth the group achieved in each of the last two quarters of the year. While revenue from the Durable Electrical division contracted less (by 0.5 per cent vs. 9.4 per cent in 2016FY), the strong growth (22 per cent vs. -2.3 per cent in

2016FY) achieved by the Branded Consumer goods division (HPC) is consistent with what competitors have reported,� they said. According to the analysts during the three months period, the group reported 38.8 per cent gross margin, the highest in all quarters of the year, and also historically. “ But adjusting cost of goods sold (COGS) for FX losses, as was the previous practice by the group, produced gross margin of 26.8 per cent, 498 bps higher, but lower than the margins reported in Q3-17 (27.6 per cent) and Q2-17 (32.9 per cent). The FX loss of N2.7 billion reported during the final quarter was the group’s second biggest in 2017FY (N4.7 billion loss was reported

in Q1-17), and surprising, given the appreciation of the Naira in the secondary markets where the group said it sourced FX to settle long outstanding trade payables. For 2017FY, the group’s FX loss tripled to N8.8 billion,� they said. Operating expenses increased by 14.9 in Q4 but fell by 6.9 per cent q/q. They noted that as a proportion of revenue, opex was lower (-60 bps y/y and -20 bps q/q). “For 2017FY, opex grew by a marginal 4.7 per cent, consistent with the benign growth recorded by most consumer goods companies in our universe in 2016FY. PZ’s latest results are impressive, but given the consistency with consensus, suggesting they are

PZ CUSSONS 2017 FULL YEAR FINANCIAL SUMMARY 80 75 70

MAY 2017 N79.8Bn MAY 2016 N69.5Bn

65 60

MAY 2017 N51.6Bn MAY 2016 N49.3Bn

55 50 45 40 35 30 25 20 15

MAY 2017 N8.8Bn

10

MAY 2016 N2.9Bn

05 0

REVENUE

COST OF SALES

FOREIGN EXCHANGE LOSS

MAY 2017 MAY 2016 MAY 2017 N4.8Bn N3.6Bn MAY 2016 N3.1Bn N2.1Bn

PROFIT BEFORE TAX

PROFIT AFTER TAX

already priced into the stock, we do not expect significant movement in the share price from current level. Besides, from the local investor perspective, the lower dividend proposed (equating to 60 per cent payout vs. 5-year average of 75 per cent) is discouraging,� they said. Also assessing the results, the results, analysts at FBN Quest said with these results, PZ Cussons has come a long way from mid-2015 to early 2017 when fx liquidity issues in Nigeria hampered itsprofitability. They noted that although the results were strong year/year(y/y), they were relatively weaker than the more impressive Q3 2017 results, explaining that sales and PBT fell by 5.7 per cent q/q and 11.7 per cent q/q respectively while PAT was flattish q/q. “On a full year basis, sales grew by 14.5 per cent y/y to N79.6 billion while PBT and PAT advanced 52.8 per cent y/y and 78.4 per cent y/y to N4.8 billion and N3.3 billion respectively. The Branded Consumer Goods segment, which advanced by 22.2 per cent y/y to N56.2 billion, accounted for over 70 per cent of the overall sales growth. The Durable Electrical Appliances segment sales of N23.4 billion was, however, flattish y/y. The full year group gross margin expanded strongly, by 604bps y/y to 35.1 per cent . Fx loss came in at N8.8 billion vs N2.9 billion in the prior year. This can be attributed to fx-denominated payables among its current liabilities. Trade payables grew by 54.5 per cent y/y to N39.7 billion in 2017,� they said. According to FBN Quest, compared with their estimates, Q4 sales was surpassed by 10.8 per cent while PBT was ahead by 26.2 per cent. “The full year sales and PBT were 2.8 per cent and 11.8 per cent ahead of our forecasts. The company declared a final dividend of 50 kobo which implies a dividend yield of 2.0 per cent . PZ Cussons shares have gained about 78.9 per cent vs the NSE ASI’s 32.5 per cent. By and large, improved fx liquidity has been favourable to PZ Cussons and other consumer goods companies,� they said.

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Race to the Top Following the release of their first half 2017 results by the Tier 1 banks, Obinna Chima examines their respective financial positions as they strive to post stellar results by the year end

Amangbo

Eke

Evidently, the first half results released by the Tier 1 banks showed that the financial institutions are in a race to ensure that they end the year with positive earnings, notwithstanding the lack of infrastructure, and general weakness in the macro-environment environment. The performance by the banks also showed that they are better placed to pull through the challenges as well as other risks in the system. The banks include Zenith Bank Plc, Guaranty Trust Bank (GTBank), FBN Holdings, Access Bank Plc and United Bank of Africa Plc. A recent report by Renaissance Capital showed that the tier 1 banks have sufficient capital buffers and asset quality trends, which confirmed the widening gap between the Tier 1 and Tier 2 banks. Indeed, the banks have benefitted from ‘flight to quality’ in terms of deposits over the years, just as the banks have continued to expand their retail banking operations. Zenith Bank For Zenith Bank, its audited half year results for the period ended June 30, 2017, showed that the bank is ahead of its peers with a profit after tax of N75.3 billion, as against the N35.5 billion it realised in the corresponding period of 2016. Clearly, if not for the 30 per cent provision the bank made on its loan to 9Mobile (formerly Etisalat Nigeria), and some of its other customers, Zenith Bank’s would have reported higher profit in the period under review. It is worthy of note that the network provider is currently undergoing restructuring to prepare it for new investor(s) and that the 9Mobile loan had not gone bad. Also, the results showed that the bank recorded gross earnings of N380.4 billion, up by 77 per cent from N214.8 billion posted in the corresponding period of 2016. Its Net interest income stood at N138.962 billion, as against N127 billion in 2016. Its financial position showed that Zenith Bank’s total assets climbed to N4.927 trillion in the period under review, from 4.739 trillion; just as its deposit from customers stood at N2.975 trillion in the period under review, from N2.984 trillion. Similarly, Zenith Bank recorded loans and advances of N2.187 trillion as at June 2017, from N2.289 trillion previously. In terms of its key financial ratios, Zenith Bank’s net interest margin was 7.6 per cent as at June 2016, compared with the eight per cent it was in the comparable period of 2017, while its cost to income ratio was 57.1 per cent, its loans to deposit was 66.2 per cent. Its shareholders’ funds was N719 billion as at June 2017, up from N704 billion. With total market capitalisation of N725 billion on the Nigerian Stock Exchange (NSE) as at last Friday, the bank’s share price has appreciated by 60 per cent year-to-date, from N14.40 per share as at January 3, 2017, to N23.08 per share last Friday.

Segun Agbaje Managing Director/CEO of Zenith Bank Plc, Mr. Peter Amangbo, had explained that the 30 per cent provision by the bank was prudent. “Also, this was not done because the 9Mobile loan is a non-performing loan since the company is being restructured, but the general provisioning was done because we were being prudent and in order to recognise the deterioration of the macroeconomic environment brought on by the recession,� he said. Amangbo said the bank relied on its pool of exceptional staff to make sound and timely decision and addressed issues in a manner that anticipated developments and demonstrated excellent understanding of the dynamics of the market and economy. GTBank Guaranty Trust Bank Plc (GTBank) audited H1 results showed the bank’s gross earnings for the period grew by two per cent to N214.1 billion, from N209.9 billion in 2016. Its net interest income rose from N79.1billion to N129.5 billion. GTBank ended the H1 of 2017 with profit after tax of N83.6 billion compared with N71.7 billion in 2016. The bank’s loan book dipped by six per cent from N1.590trillion recorded as at December 2016 to N1.491trillion in June 2017 while customer deposits decreased by one to N1.966 trillion from N1.986trillion in December 2016. Also, the bank closed the half year ended June 2017 with total assets and contingents of N3.75trillion and shareholders’ funds of N538 billion. GTBank’s Return on Equity (ROAE) and Return on Assets (ROAA) stood at 38.8 per cent and 6.4 per cent respectively. The Managing Director/CEO of GTBank Plc, Mr. Segun Agbaje said the performance in the first half of 2017 reflected the strength

Kenedy

Wigwe

of the bank’s businesses. He said despite the challenging environment of slow economic growth, “we focused our resources on strengthening relationships with our customers, creating business platforms that seek to add value across all customer segments, whilst consolidating our leading position in all the economies in which we operate.� The bank has continued to report the impressive financial ratios for a financial institution in the industry with a return on equity (ROE) of 38.8 per cent and a cost to income ratio of 40.2 per cent indicating the efficient management of the banks’ assets. Its other key ratios showed net interest margin of 10.42 per cent as at June 2017, compared with 8.40 per cent in the comparable period of 2016; CAR of 23.10 per cent , up from 18.25 per cent and Liquidity Ratio of 48.52 per cent. GTBank’s share price on the NSE has appreciated by 60 per cent year-to-date, from N24 per share at the beginning of the year, to N38.54 per share at the beginning of the year.

of metrics associated with these initiatives.� Access Bank Access Bank Plc recorded a profit after tax of N39.45 billion for the half year ended June 30, 2017, showing a growth of 17 per cent above the N33.67 billion in the corresponding period of 2016. Similarly, the bank had disclosed that it also made about 30 per cent provision on its loan to 9mobile. According to the audited H1 results released to the Nigerian Stock Exchange (NSE) gross earnings stood at N246.6 billion, up 42 per cent from N174.1 billion in the corresponding period of 2016. The growth in gross earnings was driven by 66 per cent increase in interest income. The results showed that Access Bank recorded total customer deposits of N1.9 trillion as at June this year, down from N2.089 trillion; while its loans and advances stood at N1.739 trillion; and total assets at N3.45 trillion. Its shareholders’ fund as at the period under review was N480 billion. The bank’s capital adequacy ratio (CAR) remained strong at 21.6 per cent well above the regulatory minimum, while its net-interest margin was 16 per cent. In terms of share performance on the NSE, Access Bank’s price has appreciated by 67 per cent year-to-date, from N5.81 per share at the beginning of the year, to N9.70 per share. Commenting on the results, Group Managing Director/CEO, Access Bank, Herbert Wigwe said the bank’s performance in the H1 reflects the “strength and sustainability of our business as well as the effective execution of our strategy.� He added that the bank’s retail expansion drive led to investments in its channels, distribution network, and service quality and brand enhancement.

FBN Holdings On its part, FBN Holdings Plc recorded gross earnings of N289 billion in its half year ended June 30, 2017, up 7.8 per cent from the N267 billion in 2016. The holding company’s net interest income rose by 30.2 per cent from N126 billion to N164 billion. However, its profit after tax for the period under review was N29.5 billion, from the N35.9 billion recorded in the corresponding period of 2016. A further analysis of the results showed that total assets of N4.9 trillion grew by 3.0 per cent to hit N4.9 trillion, from N4.7 trillion as at December 31, 2016. Its deposit from customers was N3 trillion, as against the 3.104 trillion it realised previously. Also, FBN Holdings gave out total loans of N1.998 trillion as at the end of June. Its shareholders’ fund was N610 billion as at June, up from N583 billion. In terms of performance on the NSE, FBN Holdings market capitalisation was N206.398 billion as at Friday, while its share price has appreciated by 69 per cent year-to-date, from N3.40 per share at the beginning of the year, to N5.75 per share as at last Friday. In terms key ratios, its net-interest margin improved to 8.5 per cent in 2017, from 7.2 per cent in 2016. Liquidity ratio was 50.4 per cent; loan-to-deposit ratio at 74.5 per cent and cost to income ratio of 54.4 per cent. Commenting on the results, the Group Managing Director, FBN Holdings, Mr. Urum Kalu said: “FBN Holdings has again demonstrated its strong revenue generating capacity in the current economic environment reporting gross earnings of N288.8 billion. “In line with our strategic focus on improving asset quality; cost optimisation; and, enhancing revenue generation, we are beginning to see improvement across a number

United Bank for Africa The United Bank for Africa’s (UBA) audited half year financial results ended June 30, 2017, showed that the bank grew its gross earnings for the period by 34.5 per cent to N223 billion, as against N166 billion reported in June 2016. This was driven by the 44.3 per cent and 16.0 per cent growth in interest income and non-funded income respectively. The UBA Group recorded profit after tax of N42.3 billion, translating to a 56.2 per cent growth over the N27.1 billion recorded in the half-year of 2016. While the Group closed the half year with total assets of N3.69 trillion, a growth of 5.3 per cent, it prudently grew gross loans to N1.6 trillion, a 4 per cent growth when compared to its loan book as at 31 December 2016. Its deposit from customers also stood at N2.449 trillion. The Group’s shareholders’ fund grew to N483.1 billion, whilst it delivered an annualised 18.2 per cent return on average equity. UBA’s share price has appreciated significantly by 99 per cent year-to-date, from N4.45 per share at the beginning of the year, to N8.81 per share as of last Friday.

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BUSINESSWORLD

ANALYSIS

Raising the Bar on Customer Experience Nosa Alekhuogie writes that only organisations that accord the highest priorities to quality management systems can create excellence, stay ahead of the competition and earn the trust and confidence of customers, which in turn translates to client retention and long-term viability

In this era of increased focus on customer centricity across different economic sectors in Nigeria, especially the product and service industries, creating a positive consumer experience at the point of sale or service and post-sale could not be more critical. This is doubly so given recent developments in customer/consumer awareness buoyed by stiff competition and availability of choice, particularly for a sector like banking. A customer-centric approach can add value to how a bank’s customer perceives it simply because it enables that bank differentiate itself from competitors who do not offer the same experience. The homogeneity of banking products and high volatility of consumer behavior underscore the importance of constantly innovating and raising the bar on customer service, satisfaction and experience, a mission critical for any Nigerian bank that wants to remain profitable in business, attract and acquire customers and retaining their loyalty. For instance, a cold reception, a rude teller, an avoidable long wait on a queue, failed transaction, wrongful debit, delayed credit, erroneous denial of a banking transaction, or even a prolonged system downtime of its digital banking platforms are just a few reasons any loyal bank customer can easily walk away to try another bank and become another statistics of aggrieved and unsatisfied former customers. There are 22 commercial banks all jostling for the attention and patronage of the populace and offering all sorts of value propositions. Not to mention the microfinance banks (MFB), mortgage banks and other financial services organisations, including those operating in the unregulated and unstructured informal sector. So in the long run, what will set ‘bank A’ apart from ‘bank B’ and of course the rest of the pack would most likely be its commitment to making the customer king, in

other words, excellent customer experience. Customer Experience In pursuit of this objective, Stanbic IBTC Bank has shown consistently that it is determined to make progress real for its customers in line with its brand promise of helping them move forward. It is therefore fitting to say that the bank, in spite of its laudable stability, has refused to rest on its oars. The bank went one step further in its pursuit of service excellence when it opened up its systems and processes to international standardization audits, which enables many world-class organizations around the globe constantly question and develop their quality management systems and processes. Which begs the question why Stanbic IBTC Bank, with a Triple A, F1+ Fitch ratings, the highest possible rating for any bank in Nigeria, a rating it has gotten consistently in the last two years, sees a need for quality systems and management certification? Well, following this audit and passing of a clean bill of health, Stanbic IBTC was awarded the ISO 9001:2015 Certification, a highly regarded quality management system certification globally. The certification, amongst its many benefits, will enable the bank to serve its customers at the right level of quality and ensure zero variability in the delivery of service across the various digital and nondigital touch points, all of which enhances customer banking experience and relationship with the bank. Since management systems play a key role in organisational process, Stanbic IBTC Bank’s clear focus on continuous organisational improvement, alignment, capacity for execution and ability to renew, adapt, transform fast enough to meet and exceed changing market demands makes for ideal raison d’être why the bank’s effectiveness of

management systems will engender measurable added value for its teeming customers. Best positioned to assist the bank in its quest to achieving sustainable business success with audits, assessments and certifications is DQS, which has become the respected certification partner for quality-focused companies around the world. Pledge of Future Performance Speaking at the recently official presentation of the certification, Executive Director, Operations, Stanbic IBTC Bank, Mr. Wole Adeniyi, said the certification was a sign of achievement but more importantly a pledge by the bank for future performance as quality management is a lasting commitment and the bank is consistently inspired by quality in its products and services, people, processes and leadership, stressing that the requirements of the system would be continually reviewed and developed for higher performance. “We are delighted about the ISO 9001:2015 Certification. We welcome it as yet another demonstration of our drive to improve service delivery in all aspects of our business. We will continue to build on our existing strengths, including our membership of the Standard Bank Group, Africa’s biggest financial institution, to undertake improvement actions for better quality of service across all segments and channels of our operations,� Adeniyi said. He said that following the milestone, “we reiterate our brand promise to help our customers move forward while expecting nothing short of the highest customer service, products and services, personnel and management quality standard.� The certification, he added, provides another reason to benchmark the bank’s performance by identifying flaws that require fixing and improvement. The ultimate goal is to deliver quality, reliability and proficient services through improved internal management and operational

processes. “We have long recognized that improvements in our performance, which a robust quality management system assures, are directly connected to quality service and customer satisfaction.� Country Director, DQS Certification Management Systems, Mr. Lawrence Ogudu, affirmed that Stanbic IBTC Bank met the requirements of the ISO 9001:2015 Certification, which, amongst others, entails demonstration of the ability to consistently provide products and services that meet customer and applicable statutory and regulatory requirements. It also involves the enhancement of customer satisfaction through the effective application of the system, including processes for improvement of the system and the assurance of conformity to customer and applicable statutory and regulatory obligations. End-to-end Digitisation Covering The Stanbic IBTC Group’s goal is to achieve end-to-end digitisation covering front-end and back end processes, Adeniyi said, adding that better process integration will help deliver great customer experiences, improve operational efficiency and ensure cost optimisation for the entire organisation. And because the customer is at the centre of everything we do at Stanbic IBTC, we do not see this certification as excuse to rest on our oars but a new challenge to achieve even more in our bid to enable and help our customers be more. He added: “In final analysis, achieving customer satisfaction and experience is the dream of every organisation. However, only businesses organissations that accord the highest priorities to quality management systems can create excellence, stay ahead of the competition and earn the trust and confidence of customers, which subsequently translates to client retention and long-term viability.�

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Ezeagu: Stockbrokers Require New Skills for Commodity Trading The Association of Stockbroking Houses of Nigeria recently held a training workshop in conjunction with its technical consultants, Cella Private Group of India, preparatory to the establishment of the Commodity and Futures Exchange. Chairman of ASHON, Chief Patrick Ezeagu spoke to Goddy Egene on the programme and the need for stockbrokers to acquire new skills and competencies in order to operate optimally in the proposed trading environment. Excerpts: What are the objectives of the training? The core objective of the training was to equip the participants with the modern latest techniques of trading in commodities derivatives. The fact of the matter is that our operating environment is changing and very fast too while our market is expanding steadily. We are famous with equity market. We moved to the bond market. We are now thinking about commodity market. The best approach is to build capacity from within so that as these changes are taking place, our people can become fit and proper into the changing operating environment. By this, we shall be able to play our role as intermediary within the market space. Therefore, this training which also dealt with derivatives and commodity is to ensure that we sharpen the skills of our members so that they will be able to trade in commodities, futures ,options and the rest of them . If we fail to build these capacities, that means they will remain in the dream land and will not be able to play the roles they are supposed to play. I must quickly place on record that the whole essence of the association is to ensure protection of the business of our members. This involves ensuring that they comply with the fundamentals of Minimum Operating Standard (MOS) of the Nigerian Stock Exchange, compliance with all the rules, ethics, ethos and nuances that are set by the Securities and Exchange Commission (SEC) and The Nigerian Stock Exchange among others. As a body, we also have an obligation to advise our regulators on how the market can move forward. In a similar vein, we are expected to be creative by introducing new products. We must consistently create awareness of the importance of the capital market locally and internationally to attract investors. We do engage the young ones in career talks and all that. In broad terms, ASHON provides a veritable platform that helps its members to improve on their professional practice through regular training in order to deliver value to the customers in line with the global best practices and grow the market’s investor base. The whole objective is to really increase capacity and to enable our members focus on the emerging trends in the financial market . Can you shed light on the main focus of the training? The training’s pre-occupation was the fundamentals of Commodity derivatives. We were exposed to the basic principles of Commodity derivatives, how it works, what an average broker should look out for, how to effectively trade and explain it to customers. How to play effectively within the market was highlighted. An emerging trend is that government is now expanding its scope of diversification in terms of earning foreign exchange from other access other than crude oil. If we are diversifying and they have to go into commodities which has to do with agricultural products as well as solid mineral and gas, it means that there must be a platform where our members can play their intermediating roles in terms of trading on warehouses receipts electronically which is actually a major issue. The ultimate goal for our members is to be able to push for high turnover in this proposed market. The whole process

Ezeagu

is all about how we can play our role in the economy and ensure that the economy grows in the manner it supposed to grow. We must be part of the diversified economy as Nigeria would no longer be dependent on crude oil any longer. Is this training a preparatory to ASHON’s plan to oat Commodity and Futures Exchange? Obviously, yes. This is a preparatory ground because if we are trying to float a specialized exchange, our members must be positioned to be able to play effective role. By this, we need to understand what it is all about and so this is just like bringing them up towards the ABC of Commodity derivatives. They must be part of the revolution and always be on the top new developments in our dynamic market. We have strategically decided to at least take the bull by the horn by ensuring that our members are ready to operate within the market without technical encumbrance.

Now that the training has been completed, what is the next step? The next step is for us to move on with our registration with the regulatory authorities and secure the all approvals for establishing our commodity and futures exchange. We shall deploy more tactics to ensure that our members embrace the technology that the Indians have provided. This will effectively help us in ensuring that we can be fit and proper to trade in the market using the latest technology to enhance our trading capacity in the market. The next thing is for us to work through the template in terms of the technology associated with commodity futures. When will ASHON inaugurate the new exchange? There is no specific timelines at the moment because it is too early to go into that. There are other parties that are involved in the whole process and we don’t want to begin to give timelines to third parties. But for us, we would continue to work assiduously to

ensure that at least, we deliver within the shortest possible time. What is your advice to stockbrokers concerning this training? My observation is that the training is an eye opener and confirmation of the saying that you cannot give what you do not have. My advice is that they should take advantage of the training to upgrade their knowledge and become relevant in the emerging trends in the market. The issue is that if you don’t want to be left behind in this market, you need to understand that change is a constant thing and the only way for you not to be left behind in this market is to change positively by understanding and embracing the new technology, new products and the fundamentals of how to deal with those things to be part and parcel of the twenty first century broker. The twenty first century broker is broad knowledge base in terms of equities, bonds and other fixed income securities as well as commodities and futures. By this, the brokers can earn income from multiple channels and sustain the business.

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T H I S D AY WEDNESDAY SEPTEMBER 13, 2017

T H I S D AY WEDNESDAY SEPTEMBER 13, 2017

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EDUCATION MAPOLY Students: Determination Propelled us to become Chartered Accountants Two undergraduates, Miss Oluwakemi Bakinde, 24 and Miss Opeyemi Sowemimo, 18, of the Department of Accountancy, Moshood Abiola Polytechnic, Abeokuta, who recently became chartered accountants shared their experiences of determination and setting their priorities right with Funmi Ogundare Becoming a chartered accountant combines innovative education with mentored work experience to produce an accountant that possesses a greater ability to analyse and interpret business problems and develop dynamic solutions. Perhaps this was the driving force for Miss Oluwakemi Bakinde, 24 and Miss Opeyemi Sowemimo, 18, of the Department of Accountancy, Moshood Abiola Polytechnic (MAPOLY), Abeokuta, who became chartered accountants while pursuing their academic programme at a time when most of their colleagues are running after one social activities or another on campus. Bakinde, an indigene of Ogun State, expressed delight about her achievement while attributing it to determination, prayers and encouragement from family, friends and lecturers. “For me, I feel happy, delighted and great because it has always been one of my dreams to become a chartered accountant before being a graduate. It is a rare privilege to achieve this and I pray God Almighty guides me through achieving my other dreams. “Without doubt, there is nothing anyone can achieve without prayers and the will of God in such person’s life. So, prayers, determination, encouragement from friends and family as well as lectures contributed greatly to this achievement. At this juncture, I must really appreciate the efforts of my lecturers in school whose experiences, professionalism, encouragement and passion for their students’ greatness were and are immeasurable at this point in my academic pursuit. I must also appreciate the lectures received from tutorial centres.� Asked how she feels being one of the few students to become chartered accountants as undergraduates, she said, “the statement does not really hold true for us at MAPOLY because our department is renowned for producing chartered accountants who are still in their National and Higher National Diploma programmes. In fact, not too long ago, precisely in 2011, one Kaosarat Alade then in her National Diploma (ND) emerged as the best female student of the Chartered Institute of Taxation of Nigeria (CITN), having in 2009 at the age of 21 become a chartered accountant.� On what makes her department and the institution to stand out from others, Bakinde described it as not only one of the best departments in the polytechnic, but also a force to be reckoned with among other institutions. “The fact that the National Board for Technical Education (NBTE) has always accredited the programme and the retinue of successful chartered accountants and other graduates of the department, including the Governor of Ogun State, Ibikunle Amosun lay credence to the outstanding status of the department and the polytechnic. “We have seasoned, committed and professional lecturers who will leave no stone unturned in equipping their students with all ingredients needed for success.� For other students of accountancy who desire to become chartered accountants, she advised them to always encourage themselves. “It is true that Rome was not built in a day, but without the determination and will to get there, you will not even commence the journey at all. Therefore, as much as the journey may not be smooth at all times, they have to believe in the fact that they can achieve it. “For instance, while I am delighted about my achievement, a colleague of mine, an ND II student who was 18 years old also

Bakinde

became a chartered accountant. It means others should aim to better and surpass the feats recorded by those before them. Like I also said earlier, with prayers, commitment, believe and support, the sky is always the beginning of greater things for all.� In her submission, Sowemimo, the first child in a family of four, who already qualified as an associate of accounting technician in December 2016, said accounting has always been her passion, adding, “I love studying and teaching accounting.� She said she began to pursue professional programmes after her secondary education. “I started the foundation level of ICAN called the ATWA. I started from ATS I and while I was preparing for ATS II was when I got admission into MAPOLY. MAPOLY also contributed to my study in these programmes in that what we did at our National Diploma (ND) level were related to the foundation level of ICAN at ATS I and ATS II and I gained more knowledge by gaining admission and receiving lectures in MAPOLY. I did Economics and Accounting at ATS I which we did here in ND I and also Communication Skills and for ATS II, I did Statistics and Public Sector Accounting which we did at ND II. All those things helped me so much that it would have been nearly impossible for me to achieve this without those lectures.� Asked if one must be proficient in mathematics to succeed in the study of accountancy Sowemimo said, “we have different opinions on that but I think there is more to accounting than what people think. They may think it is just about the writing aspect but there is mathematics in accounting. You have to be mathematically versed before you can venture into accounting.� On how she was able to combine academics

Sowemimo

with professional programmes she said: “It was not easy but I had to cope. I always had a conflict of interest on whether to come to school or go for my professional lectures. We always have our priorities and we also know what should come first. It was not as easy for me but all thanks to God. I knew what I wanted and I knew how to prioritise. “Also, determination and discipline helped me, there were times I had lectures here in MAPOLY and my ICAN examination was close, I stayed at home to read for the exams and thereby missed out of lectures at that period. There were also times I had to leave ICAN for school. I prioritised what I wanted from the many that I had at hand. All of those times, I didn’t attend any social gathering though I was an honorary member of the Excel Assembly Foundation. In fact, I was not committed to it.� On how she surmounted the challenges at the time, she said, “the exams affected my grades here on campus. My expectation was to finish with distinction, but when I started moving close to it, it was late. I had 3.36 in my first semester ND I, but it was not enough because I knew what I wanted. I had 3.85 in the first semester of my second year but cumulatively, it only moved towards distinction but not distinction in the end.� Asked how she felt when she passed these examinations, she said, “I was happy because at the end of it all; it was worth it and I have some dignity with my name. I felt I have set a good path for my siblings to emulate being the first of four and knowing how impressed my parents were, I felt fulfilled. I felt it was a reward for my grades that dropped in school. It was more like compensation. It filled the gap left by my average grades.� Sowemimo, whose role models include the Minister of Finance, Mrs. Kemi Adeosun,

Accountant-General of Ogun State, Pastor Joseph Aborewa and some of her lecturers, aspires to become a renowned chartered accountant. “I looked up to great prospects ever since I was young. Qualifying as a chartered accountant does not make you renowned but I am planning to become a versatile one that deals with accuracy and integrity. I love to become a point of reference to generations and I love to be a motivational speaker.� She also advised other students to set their priorities right as a way of improving on their academics. “They should have priorities. My opinion can be different from someone else’s but when you know what you aspire to become, you will know what you want to work towards. I also believe in the fact that you should expect the unexpected and if possible, become the unexpected. What you do not sacrifice for will later be your sacrifice. “As students, you must know what you want and you must set your priorities right. You shouldn’t do things because you want people to feel you, you should rather do things based on personal benefits and how they benefit your future. You should be futuristic. When I was missing classes, some of my mates thought I was unserious, I didn’t look at them because I knew what I wanted and I knew what to do to get them.� To the lecturers and management of MAPOLY, Sowemimo said: “they should be considerate with the 70 per cent attendance required of each student. Sometimes the fact that you are not in school for classes does not mean you are unserious. It is a fact they must understand. 70 per cent attendance makes students committed but the management should be considerate.�

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EDUCATION

BAF Unveils Crowdfunding Initiative for Public Schools’ Overhaul Uchechukwu Nnaike A non-governmental organisation, the Bunmi Adedayo Foundation (BAF) has recently launched a crowdfunding initiative tagged ‘1K4Change Campaign’, aimed at raising funds from the public to pursue the foundation’s vision of transforming the educational landscape in public primary schools. The goal of the campaign is to raise N1,000 from 100,000 people.

With an emphasis on helping children from indigent background, the foundation said it employs a holistic and transformational approach in improving the learning outcomes by meeting all the requirements for quality education in its adopted schools. Since its inception in January 2016, BAF said it has adopted five schools, two of which have been “completely transformed through our bouquet of programmes and interventions

which include; continuous professional development for teachers; remodelling and renovation of school buildings, library, classroom furniture, sports facilities and ICT laboratory. Through BAF’s intervention, these two schools have now become one of the best public primary schools in Lagos State.� In line with its model, the foundation said the 1K4Change campaign is aimed at sourcing for funds to implement identified projects

at the three remaining schools: Ire Akari Primary School, Isolo; Ebenezer Primary School, Egbeda; and Community Primary School, Lakowe. According to the Chairman, Board of Directors, Mr. Babatunde Akinleye, the campaign would provide the public with an opportunity to do good in little ways that do not hurt their pockets. For ease of donation, he said the campaign has adopted multiple donation channels like the online payment portal

at www.1k4change.org, direct bank transfer, USSD payment (*402*00006375*1000#) and donation boxes at all Tastee Fried Chicken (TFC) outlets. The influencers signed up for campaign include celebrities and on-air personalities like Ali Baba, Comedian AY, Falz, Ogbolor, Gbenga Aborowa, BellaRose Okojie, Mannie, Benny Ark and Debola Lagos among others. Also partnering the foundation on the initiative is City 105.1FM and Tastee Fried Chicken.

In his remarks, Mr Femi Odutuga of City105.1FM reiterated his organisation’s support for the campaign and expressed its commitment to support the foundation for the long haul on the 1K4Change Campaign and for other projects. Also, the, General Manager, TFC, Mrs. Modupe Folorusho lauded the initiative and stressed that the menace of poor quality education will come back to haunt everyone later if not addressed now.

Lagos Assesses Schools, Tasks Administrators on Conducive Environment As schools resume for the 2017/2018 academic session, the Lagos State Government has commenced its preresumption assessment of all primary and secondary schools in the state to ensure that all schools are in good condition and expects high level of preparedness from the administrators. The appraisal exercise was conducted by the Office of Education Quality Assurance, led by the Director-General, Mrs. Ronke Soyombo in schools in Education District IV, Mainland. She appealed to school heads to ensure that their schools are in good, safe and ready to learn conditions as the state’s primary goal remains better teaching and learning in conducive environment, care, guidance, safety and child protection in schools below tertiary level across all education districts. She stressed the importance of security in every school which includes physical structures like proper fencing, burglary proofs, doors and school safeguarding personnel alongside proper environmental sanitation, hygiene and friendly play area, well arranged library, psychologically

prepared teachers and conducive learning environment as schools resume. “We know we have good schools, we want to see them come out better. Our standard is improving but we want to see them come out the best.� Soyombo, who expects a better output in the state education sector this session, encouraged school administrators to avoid foot dragging in order to give their best. “Any form of laziness and negligence of duty will not be tolerated from head of schools and school administrators because we will continually embark on school monitoring to encourage heads of schools to discharge their duties and not found wanting.� At the pre-resumption monitoring and assessment exercise to Lagos City College, Sabo Yaba, she urged senior secondary three students who were taking preparatory lessons before their mock examination to inculcate good behaviour in order to stand-out, as well as to work smart to be the best by engaging in life-helping exercises such as reading and innovative discussions.

L-R: The Patron, Bunmi Adedayo Foundation, Mr. Adekunle Adedayo; the Chairman, Board of Trustees of the foundation, Mrs. Olayinka Adedayo; the Chairman, Board of Directors, Mr. Babatunde Akinleye; with presenters at Cool FM and WazobiaMax TV and 1k4Change Campaign inuencers, Mr. Gbenga Aborowa and Mr.Uba Michael (aka Ogbolor), during the launch of the 1k4Change Campaign by the foundation in Lagos... recently

Gifted Student Solicits Govts, Multinationals’ Assistance

Old Boys Honour Exceptional Students of Edo College

Obioma Ogbonnaya

The Edo College Old Boys Association (ECOBA) has recognised and presented awards to some students of Edo College, Benin City for exceptional performances in various subjects in the last academic session. The award plaques and cash prizes were presented to the deserving students at the graduation/ prize-giving ceremony organised by the management of the school recently. The event, which was part of activities to mark the end of the 2016/2017 academic session, had in attendance many dignitaries including Mr. Arnaud Dornon, the French Cultural Attachee in Nigeria; Ambassador Vincent Okobi, who was the chair of the occasion; and the Head of Service, Edo State Civil Service Commission, Mrs. Gladys Idahor, represented by the Permanent Secretary, Reverend S.O Uwuangue. The awards recipients include

He is an academically bright student. He was born during the tenure of US President, Bill Clinton and the parents who are admirers of the former US president, named him Clinton Chimemezue Ezeani. He is left handed like Bill Clinton among several similarities. The 16-year-old is gifted; he recently graduated from the Faith Academy School, Cannanland, Ota, Ogun State with chains of laurels, including the best graduating student with nine ‘A1s in all nine subjects he registered for in the 2017 West African Senior School Certificate Examination (WASSCE). In the Joint Admissions and Matriculation Board (JAMB) examination, he scored 297; 105 in TOEFL and 1380 in SAT examination as three American universities scrambled to offer him admission. He decided to attend the Illinois Institute of

Technology, Chicago to study computer engineering specialising in artificial intelligence with a partial scholarship of $30,000, which only covers his tuition. His parents now have the challenge of looking for additional funds to cater for his feeding, transport, accommodation and other personal needs. Clinton’s father, Pastor Best Ezeani is therefore appealing to organisations, government, institutions and rich individuals to come to his rescue to enable this talented and gifted young Nigerian fulfill his dream of pursuing his education in the US. Recently, the National Society of High School Scholars (NSHSS) honoured Clinton as a member of the organisation, which recognises top scholars who have demonstrated outstanding leadership, scholarship and community commitment. The founder and Chairman, Claes Nobel made the announcement. “We are proud to provide

lifetime membership to young scholars to support the growth and development. We aim to help students like Chimemezue build on their academic success by connecting them with unique learning experiences and resources to help prepare them for college and meaningful careers,� he said. Clinton’s father, who spoke with THISDAY in Lagos, recently described his son as an all-round individual who is good in academics and sports. Clinton, whose football idol is Lionel Messi not only plays the game well but analysis the sports well, he is also good in the games of scramble and monopoly and has won accolades and prizes in these sports. “Clinton is a very focused and disciplined individual who does not like other curricular activities to interfere in his academics,� he said, explaining that as a result of his dedication and diligence in academics he has always been called professor at home.

Erokpadamwen Andrew, who won Senator David Dafinone’s prize for Further Mathematics for SS3; the Godwin Ize-Iyamu prize for Mathematics for JSS 3 students went to Ajah Success Ifeanyi; the Senator David Dafinone Foundation prizes for Economics and Accounts in SS3 were clinched by Eguavoen Constance; the Edward Iyamu prize for Physics in SS3 went to Igbinijesu Samuel. The SS3 prize for Fine Art donated by Michael Omo-Osagie went to Akhigbe Ofure; Air Vice Marshall Joe Ehigie’s prize for Drama was presented to Enofe Eseosa; Osazenaye Osarenkhoe’s prize for Agricultural Science for SS3 was awarded to Uwadiae Erickson, who also won the Madam Ofure Akpata’s prize for Biology; while the Omaha Endowment Foundation prize for Geography went to Odoemenem Chinedu. At the JS3 level, Ambassador Vincent Okobi’s prize

for Best Student in French was presented to Ehimhen Stevenson. Other recipients were Igbinijesu Samuel, who won the overall best performing student award; Okeghemu Emmanuel, best performing student in JS3; and Igiehon Ekpenede bagged the most hard working student award. In the staff category, Jeffery Igbinedion won the best administrator award; Ifueko Evbenage, best English teacher award; while Mrs. Ighile Esther was awarded most resourceful staff. In his remarks, Okobi congratulated the graduating students for their success after many years of study in the school. Also speaking, the Principal, Mr. Raphael Omorogbe congratulated all the graduating students, saying that they have done well by upholding the true value of the college and for obeying the rules and regulations of the school.

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Rivers Secures Third Semi-final Slot in Cowbellpedia Maths TV Quiz Uchechukwu Nnaike A student of Graceland International School, Port Harcourt, Tamunokuro Braide has secured a semi-final slot, making her the third student from Rivers State to make it to the semi-final stage in the on-going 2017 Cowbellpedia Secondary Schools Mathematics TV Quiz, sponsored by Cowbell, the flagship brand of Promasidor Nigeria Limited. At the sixth preliminary contest in the junior category, Braide and Ezekiel Ekanem of Advanced Breed Group of Schools, Sagamu, Ogun State advanced to the semi-final stage after a stiff competition from Omamode Sohwo of Graceville High School, Asaba, Delta State and Kolawole Bankole of Greater Tomorrow International College, Ado-Ekiti. Henry Nworie of Twelve Apostles College, Ebonyi State and George Tochukwu of Ruby Peculiar College, Jalingo, Taraba State also ended their journey in the competition at the group stage.

Braide said she is confident of a good outing in the race to the final and hopes for the best in her quest for the ultimate prize. “I have put this behind me. My focus is on the next hurdle and the final battle, as I pray for the best.� On his part, Ekanem, who scored 98 per cent in the qualifying examination conducted in March, thanked God for seeing him through the “tough battle of the group�. He also thanked his parents for the encouragement given to him. In the senior category, Benjamin Chisom of Dority International Secondary School Aba, Abia State and Favour Ajibola of Model Secondary School, Alagbaka-Akure, Ondo State qualified for the semi-finals after eliminating Christopher Ikeh of Reality High School Ilesha, Osun State. Other contestants were Jinan Lakan of Bethany Christian Academy, Jos, Plateau State; Alfred Thompson of Belary Schools, Yenegoa, Bayelsa State, and Fatima Suleiman of Elkanemi Schools Nigeria, Maiduguri, Borno State.

Chisom expressed confidence in his ability to excel all the way to the ultimate prize. “My worst fear is over now that I have qualified for the semi-final. The race is open now. I only need to intensify my preparation and prayers.� Ajibola, who was excited about his qualification, expressed optimism about his chances of winning the ultimate prize. He promised to work more on his composure in the next stages of the competition. The ultimate prize in both categories is N1 million each and an all-expense-paid educational excursion abroad. The first and second runners-up for each category will receive N750,000 and N500,000 respectively. Each teacher of the 2017 champions will be awarded N400,000, while those of the first and second runners-up will receive N300,000 and N200,000 respectively. Also, the winning schools will be rewarded with mathematics textbooks, desktop computers and printers.

Incensing Your Children An ever shouting and restless teacher who always harangues her class will infect the children with these negative traits. To children, teachers are semi-gods who ought to be obeyed and emulated. Children that are forever shouted at will shout at others to get on daily. They will become aggressive adults. Have you noticed how much harsh words flow freely from our lips these days? It’s appalling. The boss at work, the bus conductor, the market-sellers, stressed up parents, clerks in offices who are forever expecting, traffic wardens, policemen and soldiers at checkpoints, everyone talks harshly. Car engines are shouting, horns are hooting these days too. What with the harsh petrol scarcities coupled with the third or fourth hand spare parts transporters have to work with. This country must change for the better. This change must not only be in terms of a better standard of living for the average Nigerian, but change also in terms of content and manner of our discourse with one another. Our speech should always be seasoned with grace, with good will and with encouragement. I admire and have emulated a good trait in the British - this is politeness. The expressions: yes, please; thank you, beg your pardon, mind if I, excuse me, and the like are utterances I hear from them daily and I observe too that these are not said to colleagues only but also to the children as the need arises. Fellow teachers, we have these children in our care for at least five hours daily. Let’s drill politeness into them. In our Nigerian cultures, we have the legacy of polite expressions. The Yorubas for instance, have the word which not only is a plural pronoun referring to more than one person but can be used to address and indeed should be used to address anyone irrespective of age or affluence. All these, I’m afraid, are fast disappearing. Can you beat the rudeness of the primary six child a while ago who dared me to send him to the quiet room in isolation (the naughty corner)? I had told him that he’d have to go into the quiet room if he continued to make distracting and rude noises with the latches of his locker during my lesson. Our headmistress then, I remembered clearly, was stunned but handled the situation like the teacher that she was. Here was a lanky boy, from a rich home, who, from his childhood, displayed disrespect for authority. On the other hand, I was grateful for the incidence because it was yet another opportunity to understand the child better. He was most probably from a home that flowed with milk and honey where nannies, cooks and drivers were plummeted with orders and threats from master and madam or either of the two and where their namby-pamby children must not be disciplined by teacher. The Ancient Truth says “train your child and he shall give you rest.� Mind you, I do not at all mean to hit with the cane, as they are not animals, but rather I am for discipline which sets out to instruct, teach by words and actions, deprive if that would pass on the lesson to be learnt and reward immediately any good behaviour. Omoru writes from the UK

A former DeputyVice-Chancellor, University of Nigeria, Enugu Campus and Chief Medical Director, Memfys International Hospital for Neurosurgery, Enugu, Prof. Sam Ohaegbulam (left) receiving the 2017 Merchant of Hope for the Medically Deprived award from the President of the Exemplary Leadership Accolade International (ELAT), Emeka Okafor, at the hospital‌ recently

Rising Star Writing Contest Produces Winners Winners of the second Rising Star Writing Competition, an annual children’s creative writing and awards, organised by the Writers Corner, Lagos have emerged. The programme, held in collaboration with Vuvuzela Communication Limited and aimed at helping the children to develop their creative writing skills, saw Master Peter Adobamen, 9, of Corona School, Ikoyi, Lagos emerge winner with his poem in the junior category. Miss Valerie Akpobome, 9, of St. Saviours School, Ikoyi came second. The third position went to a year three pupil of Livingsprings Schools, Awoyaya, Miss Ogunsipe Emmanuella, 8. In the senior category, Master Kolom Oden-Ikpi, 15, of Yaba College of Technology Secondary School came first with his short story. The second position went to Miss Nkpolara Adrina an SS 1 student of Louisville College, Ijebu-Itele, Ogun State, while an SS 2 student of Starville School, Abuja, Master Pelemo Nyajo, 15, came third. Six pupils won honourable mention

prizes in the junior category. They are: Demilade Toluhi of Temple Preparatory School, Ilupeju; Tofunmi Bankole of The Fountain School, Surulere; Racheal Unachukwu of Corona School, Ikoyi; Olafiore Olamuyiwa of Greenspring School, Anthony; Okpalaoka Chizuru of Corona School Gbagada; and Chidinma Dominic of Demmykitties School, Surulere. In the senior category, four students also won the honourable mention prizes. They are Miss Chidera Okoye-Anaeze of Louisville Girls High School; Master Oladimeji Aremu of Princenton College, Surulere; Oghenejite Aboloko-Erica of Breakthrough Academy, Ojodu- Akute, Ogun State and Roseline Itafame of School Masters Academy, Ajah, Lagos. Announcing the results, Chief Executive Officer of the Writers Corner and the coordinator of the competition, Mrs. Uche Udoji, said it was keenly contested by students of various primary and secondary schools across the country, adding that there were many wonderful and incisive entries.

“Just a few entries can be openly rewarded with prizes. Some of the key criteria used included the writer’s ability to humanise nature; the extent to which the work relates and affects the human person; the beauty, flow and rhythm of language; poetic license and spelling and appropriate use of punctuation marks, among others. It is important to note that in rising star writing competition, every participant is a winner.� She thanked the sponsors of the competition, Greenlife Pharmaceuticals, the Bank of Industry and Tripplesea Group for helping to make the second edition a reality, while calling on other corporate organisations in Nigeria to support the competition. “We sincerely hope for more participation and support in the coming editions of the competition. We look forward to more robust involvement by schools and corporate institutions in the coming edition, as well as greater participation of students from public and private schools across Nigeria.�

World Bank Supports Four Bauchi LGs with N58m Segun Awofadeji in Bauchi The World Bank has provided N58 million for the construction of additional primary schools, drainages and maternity clinics in four local government areas of Bauchi State. The benefiting local government areas are Bogoro, Tafawa Balewa, Itas-Gadau and Shira. Presenting the cheques to the beneficiaries, the General Manager Community and Social Development Agency, Alhaji Abubakar Mohammed, said each of the four local government areas will have three committees that would be charged with the responsibility of ensuring proper monitoring and full implementation of the projects in their areas.

He enjoined the beneficiaries to be committed and transparent while implementing the projects for the overall development of their areas and the state in general. The general manager commended Governor Mohammed Abdullahi Abubakar for his interest in executing laudable projects across the state for the betterment of the common man. In their separate remarks, the heads of administration of the benefiting local government areas promised to support the governor in providing more dividends of democracy for the people of the state. They also assured the agency of their commitment in ensuring that the projects are executed according to standard and specification.

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Foundation Awards Scholarships to Indigent Students, Emphasises Technical Skills Funmi Ogundare The Gabriel Olukayode Ariyibi Foundation (GOAF) has awarded scholarship to three indigent students of the University of Lagos (UNILAG), Yaba College of Technology (YABATECH) and Eletu Edibo Senior High School, Abule-Ijesha to enable them complete their studies. They are Mr. Sunday Elijah, a 100-level Theatre Arts student, Miss Deborah Adewolu of YABATECH and Miss Mary Adetosoye of Eletu Edibo. The award is an initiative of the late senior pastor of the Foursquare Gospel Church (FGC) Sanctuary of Praise under its educational and vocational committee, designed to provide financial assistance for children and youths who would otherwise have been unable to find the resources for their education. Speaking at the second anniversary and 2017 scholarship awards in Lagos with the theme ‘Strategic Empowerment of Youths with Technical and Vocational Skills: The Role of Community and Faith-based Organisations’, the Secretary General, Commonwealth Association of Technical Universities and Polytechnics in Africa, Nairobi Kenya, Dr. Olubunmi Owoso, said aside the scholarships, the foundation is also aimed at providing skills/entrepreneurship train-

ing and financial assistance for identified youths for the establishment of small scale viable businesses. Owoso, who is a member of trustees of the foundation, expressed hope that the GOA empowerment programme would serve to relieve the burdens of the needy thus contributing to the preparation of a good ground for them to stand on their own. He said since its establishment in 2015, the foundation has awarded over 10 scholarships to indigent students in secondary and tertiary institutions; donated books to school libraries; and constructed borehole to provide access to potable water at its Abule -Ijesha vicinity. “The church realised that the vision of the founder must not die and cannot die, hence the establishment of the foundation to support the education of students from less privileged background so that they can also create their own business and enterprise.� The guest speaker and former Executive Secretary of Lagos State Technical and Vocational Education Board (LASTVEB), Chief Olawumi Gasper, who spoke on the theme of the programme expressed hope that the initiative would change the lives of the students, while stressing the need for stakeholders to ensure that their skills must be relevant to the needs of the community.

“The high level of youth unemployment and its accompanying youth restiveness calls for a desirable alternative route with a clear and distinct objective through strategic empowerment of youths with technical and vocational skills. “However, it is important to note that the actualisation of the industrial transformation agenda and empowerment of our youths is hinged on the production of quality technical skills in large numbers from the technical and vocational education sub-sector. It should be noted that actualising this agenda would require the expertise of engineers, technologists, technicians and craftsmen.� He added that the foundation’s initiative as properly articulated must therefore ensure adequate skills training, empowering the youths and preparing them for the world of

work; provide job opportunities and keep them off the streets, adding that it must be designed as a vehicle through technical and vocational training that would produce large number of skilled youths who will be self-reliant, competent, knowledgeable, passionate and dedicated to becoming self-employed/entrepreneurs. Gasper expressed concern that the country celebrates certificates, stressing the need for a synergy between the educational policy and the needs of the society. “Unfortunately, we have always shied away from a rigorous evaluation of the nation’s specific needs in terms of human capacity required for industrial transformation and to drive the economy. It is my humble reflection that Nigeria possesses abundant army of youths who are agitated, misdirected, angry,

unlearned, hopeless, restive and unskilled growing exponentially and whose abundant energy can be harnessed and redirected towards TVE to support our industrial transformation agenda.� He lauded the foundation’s mission to deploy technical and vocational skills in training and addressing challenges of youth restiveness and empowerment of youths, saying that it calls for immense support and further partnerships. “In carrying out the design of the programme, cognizance must be taken of the dynamic changes being witnessed globally in the TVE sub-system. Changes defined by technological advances, demand by industry for well trained and high quality technical skills, growing small business owners from the youths, need to redirect our youths to areas of greater opportunities in the

economy, deploying TVE to address youth restiveness and stem unemployment.� The Chairman, Board of Trustees of the foundation and former Deputy Governor, Central Bank of Nigeria (CBN), Dr. Tunde Lemo, thanked God for the opportunity to impact lives, saying that it is imperative to sustain it. He expressed concern about the practice of celebrating certificates in the country, while recalling that when he was in public service, people who were qualified were less committed to their jobs. “We must go back to the foundation. Seventy per cent of Nigeria’s workforce are youths, if we don’t engage them, we will not be safe. If we have many of this kind of foundation to impact the lives of youths, things will work in the country.�

Adamu, Ambode, Others for GCUOBA National Dinner The Minister of Education, Mallam Adamu Adamu; the Lagos State Governor, Akinwumi Ambode; and his Delta State counterpart, Ifeanyi Okowa are among the dignitaries expected at the forthcoming national annual dinner of the Government College Ughelli Old Boys’ Association (GCUOBA). The event, the sixth in the series of the rotational dinner that started in 2012 in Asaba, Delta State, will hold on October 7 at the Eko Hotels and Suites, Victoria Island, Lagos. Briefing journalists in Lagos, the acting President-General Worldwide, Charles Majoroh, said the dinner is to bring the old boys together in celebration and to honour some of its deserving members. He said the event would also witness the launch of the 2017 edition of the association’s annual magazine called ‘The Mariner’. According to him, the dinner would be chaired by Ambassador Christopher Kolade, a one-time teacher at the school in the early days and that the Coordinating Chairman, Council for West African Information Technology Professionals, Dr. Chris Uwaje would deliver the keynote address. Majoroh added that the dinner would also enable the members to discuss the state of affairs of their old school and to look at ways of carrying out infrastructural development

projects in the college. He said the association believes that it cannot afford to toy with the future of its children; hence the need to provide an environment conducive for human habitation and learning is a priority. The acting president added that the old boys plan to provide an e-library for staff and students, rehabilitate the wood and metal workshops. “Emphasis on our interface with the school is largely on the cherished culture and traditions that built the reputation of the school and the character of the students that went through its portals.� At the event, he said iconic alumni would be conferred with lifetime achievement awards. Those to be honoured are: Amb. Daniel Omatsone (class of 1948, Jan), Amb. Edward Martins (1948, Sep), Mr. Frank Longe (1948 Sep), Prof. Olu Akinyanju (1949), Chief Amos Olaniyan (1949), Engr. Guy Otobo (1950), Prof. Obaro Ikime (1950) and Dr. Titus Okereke (1951). The alumni that will be honoured posthumously are Mr. Ignatius Atigbi (pioneer class of 1945), Chief Gray Longe (1945), Mr. Emmanuel Awala (1947), Mr. Samuel Okudu (1947), Mr. Meshack Akpe (1947), Mr. Sam Akpe (1949), Prof. Alfred Opubor (1950) and Senator Fred Brume (1955).

L-R:The guest speaker and awardee, Chief Olawumi Gasper and the Secretary General, Commonwealth Association ofTechnical Universities and Polytechnics in Africa, Nairobi Kenya and member, Board ofTrustees, Gabriel Olukayode Ariyibi Foundation (GOAF), Dr. Olubunmi Owoso, during the presentation of an award of excellence in the promotion ofTVE in Africa to Gasper in Lagos... recently

Nigeria Military School ExStudents Commend Firm for boys Association Inducts New Career Connect Series Members Students from various senior sufficiency.� Adedayo Akinwale in Abuja The National President, Nigeria Military School (NMS), Zaira Ex-boys Association, Rear Admiral Godwill Ombo (rtd), has disclosed that the association would set up a committee which would be tasked with ensuring that the name of the alumni could be changed. He made this known in Abuja while responding to the poser by one of the patrons of the association, ex-boy Ibrahim Haruna (rtd), who questioned the rationale behind the name of the association during the investiture of patrons and induction of new ex-boys, organised by the NMS FCT chapter. According to Ombo, “we will set up a committee to see how the name of the alumni can be changed. We are very happy that the Abuja chapter is championing the solidarity of the association. The Abuja chapter has it all to drive it

on.� “NMS was established by a constitution and cannot be water-down anyhow. NMS is coming back to status quo. The boys are beginning to carry arms. Military training has been brought back to school. The entering age has been reverted back to 12 from nine that it was two years ago.� In his remarks, Maj-Gen. Ibrahim Haruna (rtd) said exboys are patriotic Nigerians who have contributed to the survival of the country. “We have made our mark in pulling ourselves at the forefront to keep this country together.� The Chairman, Ex-boys, FCT chapter, Mr. Hassan Abdul, said the association aims at creating enduring structures that would make the FCT chapter and the association in general add real value to the lives of its members that impact on NMS and be a force for good in the society.

secondary schools and tertiary institutions have commended Global Interns for broadening their horizon on career planning and internship opportunities at the Career Connect Series held in Lagos recently. The workshop had in attendance seasoned facilitators, including Greg Malize, Founder and Executive Director of ImpactGen; Oluwaseyi Adeoye, Chief Executive Officer of Pierrine Consulting; Caesar Keluro, Principal Partner of Ideasvibe Media; and Olufunmilayo Modupe, Principal Adviser of Global Interns Company, who provided educative career planning tips on various topics. A final year student of English Language at the University of Lagos, Roberts Ayanfe, said the workshop has broadened his horizon as it would help him to think for himself and engage in new challenges. “Before now I used to depend on my parents for assistance, but the career connect series has sharpened my perception towards self-

He expressed his optimism and enthusiasm triggered by the workshop to embark on new ventures. “What I have realised from this workshop is that at this point in my life as a final year student, if I do not start doing certain things on my own and making logical decisions, it would affect my career choices and ultimately life’s goals.� A fashion designer and Fine Art student of Yaba College of Technology, Sifon Ediomo-Abasi, expressed her excitement and commended the organisers of the workshop, saying that it gave her new orientation on how she could use technology to hype her career interest. “This workshop deserves huge commendation from every quarter of our society because if we have guidance in our career choices, students and young adults would make informed decisions that would add value to them and ultimately bring about an improved performance as entrepreneurs and in workplaces.�

T H I S D AY Ëž Ëœ ÍŻÍąËœ Í°ÍŽÍŻÍľ

36

CITYSTRINGS

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

Tackling Malnutrition in Delta At the end of a policy stakeholder dialogue in Asaba, the Delta State capital, the state government admitted that the absence of nutrition in the diet of its residents demands serious and holistic actions to reverse the situation. Omon-Julius Onabu who covered the event, reports

Okowa (2nd left), his wife, Edith, UNICEF team leader, Mr. Wilboard Nganbi (1st left) and Delta State SSG, Ovie Agas (1st right), at the policy dialogue with stakeholders on nutrition held at Government House, Asaba‌recently

D

elta State Government was handed what could be rightly described as a wake-up call during a day policy dialogue with Delta State Executive Council, State House of Assembly and other stakeholders on the need to step up efforts to fight malnutrition, held at the Government House Asaba. This followed a revelation that state has the highest prevalence of acute malnutrition in children in the South-south geo-political zone of Nigeria, based on statistical evidence from various studies in the country. The theme of the event, which was organised by United Nations Children Education Fund (UNICEF) Nigeria in collaboration with the Delta State Government, was ‘Prioritising Investment in Maternal and Child Nutrition: Key to Sustainable Development in Delta State’. In reference to recent nutritional and health surveys in his presentation on the imperative of multi-dimensional approach to tackling the serious maternal and child malnutrition in Nigeria and the need to scale-up nutrition, Dr. Chris Isokpunwu of the Federal Ministry of Health noted that 40,000 children in the state suffer from acute malnutrition, that is one in every five children is malnourished. He expressed delight at the governor’s presence at the presentation, saying that signaled good prospects for the scaling up of nutrition campaign. He highlighted the importance of the scaling up nutrition programme and its multi-dimensional approach it adopts. In his presentation, ‘Investing in Maternal and Infant and Young Child Nutrition – A Strategic Choice for Sustainable Development’,

a university don, Dr. B. Omotola, asserted that mortality levels could be dipped through adequate investment on maternal, infant and young child nutrition while substantial improvement in the country’s development could also be achieved. “The deliberate role of the state legislature geared towards addressing maternal, infant and young child feeding – a role which the governor assured could be taken as granted – needs no overemphasis,� Omotola noted. Omotola stressed that the numerous

Delta State governor, Dr. Ifeanyi Okowa, described the statistical ďŹ gures on malnutrition as indeed worrisome and a call to duty for the state government, expressing his avowed commitment to the ďŹ ght against malnutrition in the state

benefits of investment in child’s nutrition spanned the child’s entire lifetime since such investment impacts in real terms on every stage of development of the child. He therefore called on “the government to ensure meaningful or adequate budgetary allocation to necessary areas pinging on children and maternal well-being, including healthcare, education, agriculture and social welfare services. This should be accompanied with proper advocacy and monitoring of the implementation process for effective deliverance,� he added. In his remarks at the opening ceremony, Delta State governor, Dr. Ifeanyi Okowa, described the statistical figures on malnutrition as indeed worrisome and a call to duty for the state government, expressing his avowed commitment to the fight against malnutrition in the state. He urged the state ministry of health and related departments and agencies to leverage on the background provided by the over 400 health centres and more than 60 general hospitals in the state for effective advocacy on child and maternal nutrition in the state, since inadequate advocacy was also a problem. Specifically, the governor urged state ministries, including Health, Agriculture, Women Affairs and Community Development, Water Resources and Environment as well as other relevant bodies in the state to work with UNICEF and other stakeholders to reverse the disturbing child nutritional status of the state. Nonetheless, he said that issue of poverty could also be linked to the effects of recession in the country today, saying there was “need for collaboration with the local

government councils for effective advocacy aimed at addressing ignorance." The governor attributed most of the health and social challenges in Nigeria to policy inconsistencies, urging the federal government to adopt proper planning policies that paired economic plan with demographic or population programme. "As a country, we will be planning wrongly if our plan does not go in line with our population, such plans will be problematic," he said, adding, "For us to have healthy families birth spacing is very important; we must keep the number of our families within the range we can adequately cater for. A lot of persons are ignorant of what it takes to bring up a child; and, that is a major problem we need to address. We must improve on our enlightenment programme through effective advocacy on the need for child spacing and reducing the size of the family through deliberate plan." To the applause of the stakeholders, Okowa affirmed the state government’s commitment to addressing the scourge of malnutrition among infants and children in the state. Giving this assurance at a one-day stakeholders meeting with State Executive Council, State House of Assembly and others on Maternal, Infant and Young Child Nutrition organised by the state government in collaboration with UNICEF, even as he identified ignorance on the part of mothers and caregivers among the causes of malnutrition in the state. Most parents lack adequate knowledge on what is required in bringing up children which, according to him, most times were due to their mindset and socio-cultural background. Nevertheless, while noting that the issue

T H I S D AY Ëž Ëœ ÍŻÍąËœ Í°ÍŽÍŻÍľ

37

CITYSTRINGS

of malnutrition has been an age-long issue owing to lack of political will on the part of government, Okowa pointed out that most states which were doing well in agriculture were still plagued with the malnutrition issue. He stated the need for Ministry of Health and other relevant sectors to priorities their budgeting with respect to resolving malnutrition issues in the state just as he urged them to design appropriate work plan towards the implementation of nutrition programme. In his welcome address at the event, the state Commissioner for Economic Planning, Dr. Kinsley Emu, held that the fight against malnutrition could be won when stakeholders formulate policies or perhaps, muster the political will aimed at ending the scourge. According to Emu, who was represented by the permanent secretary in the ministry, Mr. Ben Igo, said, “We hope that this dialogue win their (stakeholders) support for increase investment in nutrition through the enunciation of policies and budgeting provisions. It is our hope that this dialogue will prompt stakeholders to join hands with the state government to scale up nutrition intervention in the state.� The Health Commissioner also expressed appreciation to the UNICEF team led by the Chief of Field Office, Mr. Wilboard Nganbi, disclosing that his ministry through the State Primary Health Care and “with support from the State Committee on Food Nutrition set up Breast Feeding Support Groups in eight local government areas.� He said “this was presented at the 59th National Council on Health and Delta State was commended,� adding, “The agency also rehabilitated several cases of Severe Acute Malnutrition that were picked up during campaigns and delivery of routine Primary Health Care Services. Food demonstration at PHCs has been re-introduced so that mothers get practical teaching on how to make nutritious meals from locally available foods,� Azinge, who was represented by the Permanent Secretary in the ministry, Dr. Minnie Oseji, said that efforts at scaling up nutrition in the state were already being put in to gear. Against the foregoing, it could be safely posited that what is most critical and demanding urgent attention is not so much the obviously frightening statistical indices that puts Delta State below par among its peers in the Niger Delta as the seriousness with which Okowa’s declaration that this represents a clarion call to action concerning the current nutritional status of the state. Needless to say, the governor’s challenge for all the relevant ministries and agencies could be described as a marching order that must be executed. The state ministries of Health, Agriculture, Basic and Secondary Education, Economic Planning, Environment as well as Women Affairs and Social Development have been challenged to liaise with UNICEF and others like civil society groups and the media in the effort to adequately scale-up nutrition in Delta State. It is simply axiomatic that advocacy through the multi-disciplinary approach remains the surest avenue to the realisation of the objectives of the National Policy on Food and Nutrition in Nigeria. Significantly, the policy underscores the pivotal role of the “mechanisms of governance and institutions�

SpeciďŹ cally, the governor urged state ministries, including Health, Agriculture, Women Affairs and Community Development, Water Resources and Environment as well as other relevant bodies in the state to work with UNICEF and other stakeholders to reverse the disturbing child nutritional status of the state

L-R: Commissioner for Health, Dr. Nicholas Azinge; Commissioner for Works, Chief James Augoye and the Commissioner for Lands, Hon. Chika Ossia, at the event

L-R: Commissioner for Power and Energy, Barr. New-world Safugha; Commissioner for Information, Mr. Patrick Ukah and Directorate of Science and Technology, Hon. Joyce Overah, at the event

Dr. B. Omotola of Ambrose Alli University (AAU) Ekpoma, making his presentation on Nutrition Investment during the stakeholders’ policy dialogue in Asaba

as drivers of the economy where relevant sustainable investment can be guaranteed. The governor surged the appropriate authorities, in

conjunction with the various groups on Scaling Up Nutrition (SUN), to use the numerous secondary and primary health institutions in the state – including over 60 hospitals

and more than 400 functional health centres across the state – as the veritable platform for conducting the required advocacy to scale up nutrition in Delta State.

T H I S D AY Ëž , SEPTEMBER 13, 2017

38

BUSINESS/MONEYGUIDE

Elumelu: Pervasive Negative Narrative is Africa’s Greatest Challenge Obinna Chima The Chairman of Heirs Holdings, Mr. Tony Elumelu has identified the pervasive stereotypes in the media around Africa and the resulting negative narrative as “Africa’s greatest challenge.� Elumelu, who spoke at a gathering of senior policymakers and developments experts hosted by UK’s leading foreign policy institute, spoke on a panel alongside United Kingdom Minister of State, Department for International Development (DFID), Rory Stewart. “I believe that the greatest challenge Africa has as a continent when it comes to attracting investment is in the way it is portrayed. Information presented about Africa is neither holistic nor properly contextualised, and has led to the kind of narrative that we have had for so long on Africa. “As an investor, when all you have heard about Africa is corruption, how would you pass a positive investment decision to go and invest in the continent? The result is that the vicious cycle of neglect continues and is even reinforced,� he added. Elumelu, who is the chairman of the United Bank for Africa Plc, therefore called for an urgent “reset of mindset,�

to attract the level of global private capital that would drive job creation and reduce poverty on the continent. “We must reset the way we see and discuss Africa. People do business with people they are comfortable with. Investors who repeatedly hear horrible things about our people and the continent will never invest here. “We will continue to host national gatherings and seminars to discuss unemployment, poverty and income inequality if we do not fix the existing information asymmetry, the poor quality of information that is put out,� he added. The Founder of the Tony Elumelu Foundation also rallied public and private sector stakeholders and the development world to increase support to African SMEs, describing them as “the lifeblood of our economy�. Elumelu, who had committed $100m to African entrepreneurs, emphasised the critical importance of mentoring and funding for the survival of small businesses. In a continent where only 700 companies generate over $500m in annual revenue, half the number in other regions, he called for targeted support to grow these small businesses

into scalable companies capable of becoming big corporates in the future. According to Elumelu, SMEs are known to be the largest job creators and should be prioritized because of the inverse relationship between security and prosperity – “when there is prosperity, security is not an issue, but when there are fewer jobs, insecurity heightens.� Elumelu called on local and foreign investors to invest in electricity, stating that this more than any other investment “will encourage the creation and growth of businesses of scale in Africa.� According to him, “long term private investment in electricity infrastructure will create an enabling environment for business growth.� Also at the event, a new Chatham House report, “Developing Businesses of Scale in Sub-Saharan Africa� which referenced Elumelu’s economic philosophy of ‘Africapitalism’ was launched. Africapitalism calls on the private sector to invest in strategic sectors for the long term to transform the continent. The report outlined the policy issues Africa must address to support the private sector to enhance job creation, encourage innovation and drive industrialisation.

‘Deployment of Quality Credit Data Will Improve Financial Services’ Nume Ekeghe The promotion of effective credit risk operations through the deployment of quality and robust credit data management has been identified as the major critical factor that would ensure the emergence of a healthy financial services industry in Nigeria. This was the submission of the Chartered Institute of Bankers Centre for Financial Studies (CIBNCFS) and the Credit Bureau Association of Nigeria (CBAN) at a business forum held in Lagos for stakeholders in the country’s financial services landscape to discuss the relevance of Credit Data Management in the industry. According to a statement, the forum was organised by CBAN in conjunction with CIBN The Registrar/Chief Executive, CIBN, Mr. ’Seye Awojobi, was represented by Deputy Director, Membership Services, Mr. Segun Shonubi, in a keynote address, said that the need for a more deliberate policy action on credit data management became pronounced in recent years due to the fast-paced and chang-

their funds. Reaching a delicate balance, he continued, is the sole objective of an effective credit data management and credit risk strategy by financial institutions. Going down the history lane, he said: “According to the Central Bank of Nigeria, the late 1980s and early 1990s witnessed rising non-performing credit portfolios in banks and these significantly contributed to the financial distress in the banking sector. The central bank also noted that it was the existence of predatory debtors in the banking system whose modus operandi involved the abandonment of their debt obligations in some banks only to contract new debts in other banks.� Also, the Chief Executive Officer/Managing Director XDS Credit Bureau/Chairman, CBAN, Mrs. Mobolanle Adesanya, said that the recently signed Credit Reporting Act was meant to promote responsibility in the credit market by encouraging responsible borrowing, avoidance of over-indebtedness and fulfilment of financial obligations by all parties.

ing regulatory and reporting requirements, such as the need to comply with Basel III. He stated that the unprecedented evolving dynamics in the financial services industry with fundamental shifts in customers’ demands and expectations had aroused a new interest in credit data management adding that without a very strong monitoring template using technology, predatory debtors can deploy the same technology to break all boundaries designed for determining their true credit histories. Citing the Central Bank of Nigeria’s Financial System Stability Report which revealed that the banking industry’s non-performing loans ratio rose from N1.678 billion in June to N2.084 trillion in December 2016. He warned that this does not augur well for the financial intermediation role of the financial services industry and the economy at large. While noting that globally, ease of access to credit was critical for business growth. Shonubi said that lending institutions are always wary of the safety of

Ecobank Customers Win in Promo Customers of Ecobank Nigeria have won prizes at the Western Union “Mega Promotion� for its patrons in Nigeria. At the raffle draws amongst customers of 13 banks in Lagos, a western Union customer Gloria Edafe Asedegbega who transacted at Ecobank Unity Road Branch won one of two Hyundai cars on display. Also five other customers, who included Kemisola Aluko, Oluwatoyin Ubuake, Helen Okwudili, Bright Uche, and

Solomon Okobia, won state of the art home appliances. According to the statement, the Western Union Mega Promo which in this first phase gave beneficiaries of western union transfers in Nigeria the opportunity to win various prizes would run through to the end of December 2017. In her remarks, Head of Remittances, Ecobank Nigeria, Esther Obot, said the bank’s customers have the rare privilege to send and receive Western Union

in very convenient and reliable ways that includes receiving through Ecobank ATMs and Retail Internet Banking (RIB) platforms. She reiterated that customers should also be assured that their records are well handled and presented for promotions like this. “We invite more customers to do their Western Union with Ecobank as the promotion is still on till December. You may just be the next lucky winner.�

Elumelu

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

DECEMBER 2016 Broad Money (M2)

23,840,392.42

-- Narrow Money (M1)

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

-- Net Domestic Credit (NDC)

26,970,297.97

---- Credit to Government (Net)

4,595,579.89

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

7,436,917.79

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

-2,841,337.90

---- Credit to Private Sector (CPS)

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

--Currency in Circulation

2,179,174.28

--Banks Reserves

3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

MANAGED FUNDS Month

December 2016

Inter-Bank Call Rate

10.39

Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ

OPEC DAILY BASKET PRICE AS AT, WED, 11 SEPT 2017 The price of OPEC basket of fourteen crudes stood at $51.82 a barrel on Monday, compared with $52.53 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

39

˾ WEDNESDAY, SEPTEMBER 13, 2017

Nigeria’s top 50 stocks based on market fundamentals

12-Sep-17

11-Sep-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

Table 1 Market Statistics Mkt Indicators

01 Dangote Cement Plc

209.00

210.00

-0.48%

3,561,466,047,645.00

13.34

15.95

4.93

3.76%

4.40

02 Nigerian Breweries Plc

180.05

184.50

-2.41%

1,427,634,614,884.40

3.58

51.23

4.64

1.96%

8.77

03 Guaranty Trust Bank Plc

37.52

37.80

-0.74%

1,104,257,844,484.48

4.49

8.79

2.78

4.48%

2.16

1,150.20

1,210.00

-4.94%

911,713,221,050.40

10.00

122.02

5.32

2.38%

31.32

05 Zenith Bank Plc

22.86

23.08

-0.95%

717,723,847,947.96

4.13

5.52

1.41

7.89%

1.02

Table 3 Top 5 Gainers

06 Stanbic IBTC Holdings Plc

41.20

39.25

4.97%

412,000,000,000.00

2.85

14.20

2.59

0.25%

2.88

Stock

07 Ecobank Transnational Incorporated

18.00

18.00

0.00%

330,291,921,870.00

0.68

26.61

0.56

3.44%

0.53

08 United Bank for Africa Plc

8.90

8.91

-0.11%

322,887,784,265.80

1.99

4.81

0.91

6.26%

0.78

09 Access Bank Plc

9.66

9.70

-0.41%

279,444,205,955.46

13.18

0.76

0.76

5.50%

0.64

480.79

457.90

5.00%

266,026,065,387.27 -82.02

-5.88

4.21

3.30%

0.71

11 Presco Plc

63.99

64.50

-0.79%

254,070,826,109.55

0.03

2,338.93

3.81

1.90%

6.49

12 Lafarge Africa Plc

50.99

53.00

-3.79%

232,254,443,291.90

3.71

15.36

1.18

5.26%

1.04

Table 4 Top 5 Losers

13 FBN Holdings Plc

5.74

5.90

-2.71%

206,038,980,626.08

0.16

35.99

0.35

2.55%

0.35

Stock

14 Dangote Sugar Refinery Plc

13.58

13.71

-0.95%

162,960,000,000.00

2.01

6.92

0.77

3.60%

2.19

15 Unilever Nigeria Plc

42.00

40.00

5.00%

158,898,442,500.00

0.81

49.26

2.17

0.13%

12.95

16 Guinness Nig Plc

95.50

95.80

-0.31%

143,812,321,954.00

-3.06

-25.17

1.12

4.16%

2.94

17 International Breweries Plc

38.00

35.57

6.83%

125,181,472,640.00

0.02

1,642.11

4.58

0.68%

11.11

6.75

6.75

0.00%

81,233,677,534.50

0.29

23.59

0.18

10.95%

0.43

235.00

235.00

0.00%

79,787,631,695.00

43.58

5.43

0.28

5.92%

3.41

20 Flour Mills Nig. Plc

27.55

29.00

-5.00%

72,297,734,501.85

3.71

7.82

0.14

6.90%

0.72

21 Forte Oil Plc.

49.61

49.70

-0.18%

64,616,087,519.83

3.66

13.66

0.50

6.90%

1.38

170.00

170.00

0.00%

61,301,194,540.00

22.61

7.69

0.67

4.14%

2.92

23 Okomu Oil Palm Plc

62.89

59.90

4.99%

59,991,399,900.00

5.15

12.75

4.36

0.15%

3.68

24 7-Up Bottling Comp. Plc

90.30

90.30

0.00%

57,845,309,778.90 -21.86

-4.21

0.52

2.39%

5.47

1.31

1.32

-0.76%

50,724,506,626.75

-0.03

-43.98

0.83

0.00%

0.57

30.87

30.87

0.00%

40,748,400,000.00

-2.89

-11.83

0.32

4.39%

0.64

1.30

1.32

-1.52%

37,651,361,399.60

0.39

3.54

0.26

11.68%

0.21

13.30

13.30

0.00%

35,237,530,427.40

0.91

14.26

1.88

4.23%

4.28

1.04

1.00

4.00%

29,942,034,851.04

0.18

5.86

0.27

8.57%

0.35

15.02

15.00

0.13%

28,851,383,092.74

3.37

4.44

0.38

6.68%

0.38

1.20

1.19

0.84%

27,792,466,761.60

-0.29

-4.02

0.13

0.00%

0.12

32 PZ Cussons Nigeria Plc

25.99

25.96

0.12%

25,990,000,000.00

5.69

4.73

1.87

0.37%

0.72

33 Glaxo Smithkline Consumer Nig. Plc

21.00

21.00

0.00%

25,113,406,248.00

3.02

6.95

1.67

1.43%

1.50

34 Cap Plc

33.00

34.50

-4.35%

23,100,000,000.00

2.17

15.89

3.54

3.33%

16.77

35 FCMB Group Plc

1.08

1.07

0.93%

21,386,927,643.48

0.09

13.13

0.13

8.93%

0.12

36 Custodian And Allied Insurance Plc

3.60

3.60

0.00%

21,174,711,102.00

1.06

3.35

0.51

3.93%

0.64

10.95

11.00

-0.45%

20,566,312,338.00

-0.64

-18.74

0.70

10.77%

2.15

38 Mansard Insurance Plc

1.90

1.95

-2.56%

19,950,000,000.00

0.25

7.57

0.96

2.63%

0.99

39 Wema Bank Plc

0.50

0.50

0.00%

19,287,233,040.50

0.07

7.59

0.37

0.00%

0.41

40 Honeywell Flour Mill Plc

2.11

2.11

0.00%

16,732,717,058.38

-0.40

-5.19

0.35

7.62%

0.50

41 Continental Reinsurance Plc

1.38

1.45

-4.83%

14,314,387,150.56

0.30

4.51

0.54

8.96%

0.69

42 Cement Co. Of North.Nig. Plc

8.90

8.90

0.00%

11,184,432,117.40

1.29

6.96

0.70

1.11%

0.90

43 Skye Bank Plc

0.55

0.57

-3.51%

7,634,165,775.50

-2.93

-0.21

0.05

49.18%

0.08

44 Wapic Insurance Plc

0.50

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Unity Bank Plc

0.56

0.56

0.00%

6,546,029,247.52

0.19

3.16

0.08

0.00%

0.08

46 Resort Savings & Loans Plc

0.50

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

47 Nigerian Aviation Handling Company Plc

3.22

3.10

3.87%

5,229,984,375.00

0.36

9.51

0.69

5.88%

0.85

48 UACN Property Development Co. Limited

2.85

2.86

-0.35%

4,898,437,485.75

-0.90

-3.23

0.79

24.05%

0.15

49 Fidson Healthcare Plc

3.20

3.20

0.00%

4,800,000,000.00

0.50

6.46

0.41

1.56%

0.69

50 AIICO Insurance Plc

0.55

0.59

-6.78%

3,811,612,464.00

1.48

0.38

0.14

8.93%

0.45

04 Nestle Nigeria Plc

10 Seplat Petroleum Dev. Co. Ltd

18 Oando Plc 19 Total Nigeria Plc

22 Mobil Oil Nig Plc

25 Transnational Corporation Of Nigeria Plc 26 Julius Berger Nig. Plc 27 Fidelity Bank Plc 28 National Salt Co. Nig. Plc 29 Sterling Bank Plc 30 U A C N Plc 31 Diamond Bank Plc

37 Cadbury Nigeria Plc

TOTAL

11,608,759,350,615.60

TOTAL MARKET CAP

12,393,480,070,680.70

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

93.67%

NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)

Open 11-Sep-17

Close 12-Sep-17

Change %

35,664.94 12.29

35,397.52 12.20

-0.75% -0.75%

150.26 11.70

149.09 11.61

-0.78% -0.78%

Open Close Change 11-Sep-17 12-Sep-17 %

International Breweries Plc Unilever Nigeria Plc Seplat Petroleum Dev. Co. Ltd Okomu Oil Palm Plc Stanbic IBTC Holdings Plc

35.57 40.00 457.90 59.90 39.25

38.00 42.00 480.79 62.89 41.20

6.83% 5.00% 5.00% 4.99% 4.97%

Open Close Change 11-Sep-17 12-Sep-17 %

AIICO Insurance Plc Flour Mills Nig. Plc Nestle Nigeria Plc Continental Reinsurance Plc Cap Plc

0.59 29.00 1,210.00 1.45 34.50

0.55 27.55 1,150.20 1.38 33.00

-6.78% -5.00% -4.94% -4.83% -4.35%

Bearish trend continues as Market sheds 0.75% Market pulse on the Nigerian Stock Exchange (NSE) today - Tuesday, September 12th, 2017 ended negative as the market closed red. This was further highlighted by negative performance from the NSE Subsectors: Banking, Insurance and Consumer Goods (Save Oil & Gas). However, trading activities decreased in volume as 373.50 million shares worth N5.77 billion in 4,193 deals exchanged hands today. This is an increase from the 114.77 million shares worth N2.17 billion in 3,232 trades were carried out on Monday. Topping in volume terms are: Diamond Bank Plc, Guaranty Trust Bank Plc and Zenith Bank Plc; while Guaranty Trust Bank Plc and Nigerian Breweries Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with 0.75% (-267.42) decrease to close at 35,397.52 from 35,664.94 the previous trading day. Market capitalization depreciated in tandem to N12.20 trillion from N12.29 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with a decrease of 0.78% to 149.09 and 150.26 recorded at the end of the previous trading day, while its market capitalization stood at N11.61 trillion from N11.70 trillion of the previous trading day. A total number of 18 stocks gained on the bourse today while 28 stocks declined, leaving 43 stocks unchanged. International Breweries Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 6.83% to close at N38.00 per share. It was followed by Unilever Nigeria Plc with a gain of 5.00% to close at N42.00 per share. Others on the gainers chart include: Seplat Petroleum Dev. Co. Ltd, Okomu Oil Palm Plc and Stanbic IBTC Holdings Plc. On the decliners’ list, AIICO Insurance Plc led with a loss of 6.78% to close at N0.55 per share. It was closely followed by Flour Mills Nig. Plc with a loss of 5.00% to close at N27.55 per share. Others on the decliners’ list are: Nestle Nigeria Plc, Continental Reinsurance Plc and Cap Plc.

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

For more details go to www.thisdaylive.com

T H I S D AY Ëž , SEPTEMBER 13, 2017

40

MARKET NEWS

Successful Oando Plc AGM Excites Shareholders Goddy Egene and Nosa Alekhuogie The successful conduct of the 40th annual general meeting (AGM) of Oando Plc on Monday has been described as a good development that would impact positively on the operations of the company going forward. The founding National Coordinator of the Independent

Shareholders Association of Nigeria (ISAN), Sir Sunday Nwosu, stated that he was excited at the outcome of the meeting. While the meeting was going on in Ibom Hall, Uyo, Akwa Ibom State, there was a protest outside the venue by some aggrieved shareholders, under the aegis of Oando Shareholders Solidarity Group. However, Oando Plc had said in a state-

T H E MAIN BOARD

DEALS

MARKET PRICE

ment that all shareholders were allowed access to the venue to raise their legitimate concerns to management and the Board. According to the company, the protest lost steam after 15 minutes as the protesters quietly dispersed without causing any disruption to the AGM. “However before dispersing key representatives of the shareholder associations

N I G E R I A N QUANTITY TRADED

STO C K

VALUE TRADED ( N )

Daily Summary as of 22/02/2016 Printed 22/02/2016 14:36:10.010

Daily Summary (Bonds) No Debt Trading Activity Daily Summary (Equities) Activity Summary on Board EQTY AGRICULTURE Crop Production OKOMU OIL PALM PLC. PRESCO PLC Crop Production Totals Livestock/Animal Specialties LIVESTOCK FEEDS PLC. Livestock/Animal Specialties Totals AGRICULTURE Totals CONGLOMERATES DiversiďŹ ed Industries A.G. LEVENTIS NIGERIA PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. DiversiďŹ ed Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Infrastructure/Heavy Construction JULIUS BERGER NIG. PLC. Infrastructure/Heavy Construction Totals Real Estate Development UACN PROPERTY DEVELOPMENT CO. LIMITED Real Estate Development Totals CONSTRUCTION/REAL ESTATE Totals CONSUMER GOODS Beverages--Brewers/Distillers CHAMPION BREW. PLC. GUINNESS NIG PLC INTERNATIONAL BREWERIES PLC. NIGERIAN BREW. PLC. Beverages--Brewers/Distillers Totals Beverages--Non-Alcoholic 7-UP BOTTLING COMP. PLC. Beverages--Non-Alcoholic Totals Food Products DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC N NIG. FLOUR MILLS PLC. TIGER BRANDED CONSUMER GOODS PLC Food Products Totals Food Products--DiversiďŹ ed CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--DiversiďŹ ed Totals Household Durables VITAFOAM NIG PLC. Household Durables Totals Personal/Household Products P Z CUSSONS NIGERIA PLC. UNILEVER NIGERIA PLC. Personal/Household Products Totals CONSUMER GOODS Totals FINANCIAL SERVICES Banking ACCESS BANK PLC. DIAMOND BANK PLC ECOBANK TRANSNATIONAL INCORPORATED FIDELITY BANK PLC GUARANTY TRUST BANK PLC. SKYE BANK PLC STERLING BANK PLC. UNITED BANK FOR AFRICA PLC UNION BANK NIG.PLC. UNITY BANK PLC WEMA BANK PLC. Banking Totals Insurance Carriers, Brokers and Services AIICO INSURANCE PLC. CONTINENTAL REINSURANCE PLC CONSOLIDATED HALLMARK INSURANCE PLC LASACO ASSURANCE PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. UNITY KAPITAL ASSURANCE PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals FINANCIAL SERVICES Totals HEALTHCARE Pharmaceuticals FIDSON HEALTHCARE PLC

6 6 12

30.00 34.00

19 19 31

addressed the protestors asking that they raise their concerns the legitimate way either via writing to the company or by attending the AGM,� the company said. Expressing excitement on the successful AGM, Nwosu said: “The AGM was very successful, nothing more. We discussed all the issues that needed to be discussed and we voted to keep the management

12,629 11,640 24,269

374,530.15 421,345.20 795,875.35

1.25

1,078,511 1,078,511 1,102,780

1,358,964.30 1,358,964.30 2,154,839.65

5 68 13 86 86

0.77 1.13 20.47

33,500 6,740,423 65,995 6,839,918 6,839,918

25,070.00 7,635,453.96 1,344,425.15 9,004,949.11 9,004,949.11

13 13

41.50

31,970 31,970

1,409,214.78 1,409,214.78

5 5 18

5.20

28,901 28,901 60,871

154,716.48 154,716.48 1,563,931.26

6 24 7 98 135

2.85 118.85 20.00 99.00

190,900 53,000 15,200 429,541 688,641

528,079.00 6,201,924.95 293,757.00 42,728,789.84 49,752,550.79

9 9

168.50

166,476 166,476

28,285,937.95 28,285,937.95

54 38 6 12 1 29 140

5.61 19.00 1.37 6.86 6.65 1.27

2,120,306 314,421 40,000 119,863 433 3,285,739,119 3,288,334,142

11,610,520.13 5,953,792.96 55,716.00 842,442.48 2,736.56 4,074,348,894.07 4,092,814,102.20

11 54 65

17.86 700.00

18,825 98,360 117,185

329,518.50 68,567,962.00 68,897,480.50

11 11

4.46

99,050 99,050

420,455.00 420,455.00

13 21 34 394

21.90 28.00

36,887 133,117 170,004 3,289,575,498

820,034.75 3,737,067.92 4,557,102.67 4,244,727,629.11

82 51 21 25 200 41 16 147 11 15 67 676

4.10 1.49 15.60 1.21 16.70 1.07 1.76 2.95 5.30 0.63 0.98

3,962,506 2,163,396 278,470 790,900 4,847,312 1,969,858 1,204,932 8,586,418 39,752 501,617 5,920,564 30,265,725

16,210,255.82 3,314,106.88 4,136,459.40 958,864.34 80,963,793.44 2,115,552.11 2,087,767.85 25,302,954.71 205,645.40 316,018.71 5,813,502.17 141,424,920.83

14 8 2 3 7 10 1 1 46

0.80 0.90 0.50 0.50 2.06 0.76 0.50 0.50

200,107 276,500 5,004,000 1,000,000 351,540 327,285 37,708,135 10 44,867,577

160,838.67 251,350.00 2,502,000.00 500,000.00 720,728.80 245,325.31 18,854,067.50 5.00 23,234,315.28

1 1

1.08

4,760 4,760

4,950.40 4,950.40

31 7 105 7 20 170 893

2.46 4.00 0.85 14.15 1.31

1,149,464 27,041 31,257,120 38,035 708,255 33,179,915 108,317,977

2,830,722.84 104,002.06 26,613,309.20 537,985.34 931,556.31 31,017,575.75 195,681,762.26

27

2.69

614,065

1,572,223.05

and the Board. The protest that happened outside the venue was carried out by non-shareholders who did not have any business being there in the first place. I went out and spoke with the protesters. I told them that if they were shareholders, they would have known that the right way to raise their concerns about Oando is to officially write to the company secretary. The

protest did not disrupt the meeting in anyway.� The Group Chief Executive Officer of Oando, Mr. Wale Tinubu, at the AGM thanked the shareholders for their continued support of the company in the challenging times and assured them that the management team would focus on sustaining the company’s profitability and ensuring returns to shareholders.

E XC H A N G E

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

DEALS

MARKET PRICE

QUANTITY TRADED

VALUE TRADED ( N)

32 4 6 69 69

25.33 0.94 0.69

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

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

1 1 1

1.69

500 500 500

805.00 805.00 805.00

16 9 4 6 10 31 76

24.00 9.30 35.78 8.62 3.36 80.50

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

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

6 6

1.51

134,500 134,500

204,240.00 204,240.00

5 5 87

50.00

24,529 24,529 15,152,108

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

2 2

0.50

24,262 24,262

12,131.00 12,131.00

90 90

3.47

3,827,573 3,827,573

13,288,632.05 13,288,632.05

21 7 8 21 7 64

18.34 1.84 342.00 150.00 145.00

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

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

33 33 189

318.00

389,934 389,934 4,473,488

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

1 1

0.50

941 941

470.50 470.50

5 5

3.80

32,870 32,870

127,756.40 127,756.40

13 13

0.89

624,500 624,500

538,430.00 538,430.00

1 22 23

2.29 4.00

4,588 251,094 255,682

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

1 1 43 1,811

1.68

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

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

2 2 2 2

1.21

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

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

306 306

11.45

13,929,679 13,929,679

159,605,439.23 159,605,439.23

278 278 584

3.74

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

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

35 35 35 619 2,432

139.83

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

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

2 2 2 2 2 10 10 10

2,330.00 2.33 6.02 11.09 18.07

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

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

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

41

˾ WEDNESDAY, SEPTEMBER 13, 2017

MARKET NEWS

FGN Savings Bond September Offers Open with Higher Coupon Rates Goddy Egene The Federal Government of Nigeria Savings Bond (FSB) offer for September opened on Monday and is expected to close on Friday. The offer, according to the Debt Management Office (DMO), has two and three years tenure. The 2-year FSB due September 20, 2019 has coupon of 13.817, while the 3-year FGNSB due September 20, 2020 has 14.817 per cent. The coupon rates for September are higher than the rates for August that were made at 13.535 per cent and 14.535 per cent for the two and three years’ tenures respectively. As usual, the minimum subscription is N5,000, while maximum subscription is N50,000. Additional subscription is in multiples of N1,000 thereafter. The DMO had last March introduced the FSB on behalf 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

of the federal government as part of its efforts to promote savings culture in Nigeria and improve financial inclusion, particularly amongst retail investors. The bond is expected to also provide additional funding for the government. However, investors’ participation in the FSB has remained low despite the increase in the coupon rate (interest rate) on the bond. Commenting on low patronage, analysts at FSDH Research said one of the factors responsible for the poor patronage of FSB is the rally that dominated the equity market in recent time. “The Nigerian Stock Exchange All Share Index (NSE ASI) appreciated by 51.47 per cent between March 01, 2017 and August 9, 2017. Many retail investors diverted funds to the equity market to take advantage of capital appreciation. Other factors are: the low awareness 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 08-Sept-2017, unless otherwise stated.

the benefits and characteristics of the Bond; the low liquidity of the Bond at the secondary market and the high yield on the Nigerian Treasury Bill (NTB),” they said. Speaking on how to increase investors’ patronage, they said the DMO and the stockbrokers can organise investors’ road shows in various cities and schools across the country. “This will be an avenue to directly engage retail investors on the need for them to hold the bonds in their investment portfolio. The DMO can work with some identified large corporate organisations that have large number of employees to encourage their employees to invest in the Bonds on a monthly basis. The DMO can also work with government agencies to encourage civil servants to invest in the bond,” the analysts stated. According to them, these strategies should be able to attract a minimum of one million subscribers on a monthly basis.

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 170.90 171.50 34.54% Nigeria International Debt Fund 230.58 231.26 9.02% 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 0.81 0.82 16.36% 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 18.73% 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 17.02 17.53 37.83% ARM Discovery Fund 359.44 370.27 25.16% ARM Ethical Fund 25.41 26.18 13.74% ARM Money Market Fund 1.00 1.00 18.27% 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 141.94 142.94 34.95% AXA Mansard Money Market Fund 1.00 1.00 18.75% 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 19.60% Paramount Equity Fund 11.50 11.80 22.89% Women's Investment Fund 93.23 95.62 10.21% 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 19.70% 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 1,124.55 1,125.64 10.91% FBN Heritage Fund 141.26 141.87 26.44% FBN Money Market Fund 100.00 100.00 18.42% FBN Nigeria Eurobond (USD) Fund - Institutional $110.91 $111.59 7.69% FBN Nigeria Eurobond (USD) Fund - Retail $109.92 $110.59 7.47% FBN Nigeria Smart Beta Equity Fund 150.15 152.33 33.36% 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 1.32 1.35 42.02% Legacy Short Maturity (NGN) Fund 2.86 2.86 11.18% 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 2,849.90 2,893.48 29.23% Coral Income Fund 2,349.15 2,349.15 11.64% 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 15.86% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 18.31% Vantage Balanced Fund 2.05 2.07 21.97% Vantage Guaranteed Income Fund 1.00 1.00 18.06%

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 1.12 1.14 13.51% Lotus Halal Fixed Income Fund 1,040.67 1,040.67 8.24% 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 12.68 12.78 31.16% Meristem Money Market Fund 10.00 10.00 18.96% 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 1.16 1.18 16.97% PACAM Fixed Income Fund 10.76 10.82 3.54% PACAM Money Market Fund 10.00 10.00 17.20% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 118.44 120.59 16.91% 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 1.36 1.36 9.06% 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 2,141.50 2,152.96 16.93% Stanbic IBTC Bond Fund 163.06 163.06 5.91% Stanbic IBTC Ethical Fund 0.95 0.96 24.03% Stanbic IBTC Guaranteed Investment Fund 208.73 208.73 11.69% Stanbic IBTC Iman Fund 167.51 169.64 29.01% Stanbic IBTC Money Market Fund 100.00 100.00 18.67% Stanbic IBTC Nigerian Equity Fund 9,286.82 9,387.53 22.42% 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 1.30 1.31 15.94% United Capital Bond Fund 1.39 1.39 14.02% United Capital Equity Fund 0.84 0.86 25.25% United Capital Money Market Fund 1.00 1.00 18.00% ZENITH ASSETS MANAGEMENT LTD info@zenith-funds.com Web: www.zenith-funds.com; Tel: +234 1-2784219 Fund Name Bid Price Offer Price Yield / T-Rtn Zenith Equity Fund 12.34 12.52 27.03% Zenith Ethical Fund 13.04 13.18 19.05% Zenith Income Fund 18.41 18.41 11.34%

REITS NAV Per Share

Yield / T-Rtn

11.41 129.68

1.01% 4.61%

Bid Price

Offer Price

Yield / T-Rtn

10.61 103.84

10.71 105.78

22.99% 37.02%

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

EXCHANGE TRADED FUNDS Fund Name Lotus Halal Equity Exchange Traded Fund Stanbic IBTC ETF 30 Fund

VETIVA FUND MANAGERS LTD Web: www.vetiva.com; Tel: +234 1 453 0697 Fund Name Vetiva Banking Exchange Traded Fund Vetiva Consumer Goods Exchange Traded Fund Vetiva Griffin 30 Exchange Traded Fund Vetiva Industrial Goods Exchange Traded Fund Vetiva S&P Nigeria Sovereign Bond Exchange Traded Fund

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.31 9.29 16.97 20.20 133.11

4.35 9.37 17.07 20.40 135.11

55.71% 31.97% 41.97% 26.48% 3.23%

The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.

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WEDNESDAY, SEPTEMBER 13, 2017 ˾ T H I S D AY

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INTERNATIONAL

email:foreigndesk@thisdaylive.com

Hurricane Irma: Florida Reopens Storm-ravaged Keys Parts of the Florida Keys, the low-lying islands which bore the brunt of Hurricane Irma when the category-four storm struck on Sunday, have re-opened.

Entry is being restricted to residents and business owners as work continues to clear roads and check the state of bridges linking the islands.

North Korea Threatens US with ‘Greatest Pain’ after UN Sanctions North Korea has threatened the United States with the“greatest pain”it has ever suffered following new sanctions imposed by the United Nations. Pyongyang’s envoy to the UN accused Washington of opting for “political, economic and military confrontation”. Earlier, the US vowed to apply further pressure if North Korea kept its“dangerous path”. The UN sanctions are an attempt to starve the country of fuel and income for its weapons programmes. The measures restrict oil imports and ban textile exports, and were approved after North Korea’s sixth and largest nuclear test earlier this month. Han Tae Song, North Korea’s ambassador to the UN, said he

“categorically rejected” what he called an“illegal resolution”. “The forthcoming measures by DPRK [the Democratic Republic of Korea] will make the US suffer the greatest pain it has ever experienced in its history,”he told a UN conference in Geneva. “Instead of making [the] right choice with rational analysis... the Washington regime finally opted for political, economic and military confrontation, obsessed with the wild dream of reversing the DPRK’s development of nuclear force - which has already reached the completion phase.” The resolution was only passed unanimously after North Korea’s allies Russia and China agreed to softer sanctions than those proposed by the US.

Nearly 6.9 million homes were without power in Florida, Georgia, North Carolina, South Carolina and Alabama. Irma, which has since rapidly weakened, is being linked to 11 deaths in the US. Why was Florida spared worst of Irma? Seven people died in Florida, three in Georgia and one in South Carolina, according to US media. The storm also left a trail of destruction in the Caribbean, where at least 37 people were killed. French President Emmanuel Macron has arrived in the region and is to visit devastated French islands, while UK Foreign Secretary Boris Johnson is heading to the British Virgin Islands. Both France and Britain have been criticised for not doing

enough to help their nationals in overseas territories affected by the hurricane. Dutch King Willem-Alexander spent Monday night on the Dutch side of St Martin, an island shared between France and the Netherlands. The Dutch royal told the NOS public newscaster: “I have seen proper war as well as natural disasters before, but I’ve never seen anything like this.” Florida Governor Rick Scott used the same word -“devastation”- after flying over the Keys on Monday. “I just hope everybody survived,” he said. “It’s horrible what we saw.” “We saw a lot of boats washed ashore and we saw any, basically, any trailer park there overturned.” The Federal Emergency

Management Agency estimates one in four homes in the Keys has been destroyed and that 60% were damaged. Thousands of people ignored calls to evacuate last week, and clung on in the dangerously exposed islands during the storm. However, Governor Scott added:“I didn’t see the damage I thought I would see.” Storm surges had turned out to be“not as bad as we thought”, he said. Teams are still working to clear Highway 1, the road connecting most of the inhabited islands, and bridge inspections are continuing. Some residents were allowed into the towns of Key Largo, Tavernier and Islamorada on Tuesday morning, authorities in Monroe Country said. They were warned that services on the islands were limited: most

areas were still without power and water, mobile phone signals were patchy and most petrol stations were still closed. The US aircraft carrier Abraham Lincoln has arrived off Florida and other navy ships were in the area on Tuesday to help distribute food to the Keys and evacuate residents. In Jacksonville, Mayor Lenny Curry said 356 people had to be rescued amid record-high storm surges and flooding, the Florida Times-Union reported. A Jacksonville Pizza Hut sparked online backlash after a manager threatened to punish employees who evacuated too early for Irma. “You cannot evacuate Friday for a Tuesday storm event!” the restaurant’s manager told employees in a notice, which was shared online.

FG Condemns Human Rights Abuse in Myanmar The Federal Government of Nigeria has expressed regret at the desperate human rights situation in the Rakhine State of Myanmar, which is very reminiscent of what happened in Rwanda in 1994 and in Bosnia Herzegovina in 1995. It condemned the horrendous

human suffering caused by what is now confirmed by the United Nations High Commissioner for Human Rights in his statement today, to be a “textbook example of ethnic cleansing” of the Rohingya people. In a statement signed by the

spokesperson of the Ministry of Foreign Affairs, Ms. Jane Adams the government said called the United Nations to invoke the principle of the “Responsibility to Protect” and intervene in Myanmar to stop the ongoing ethnic cleansing and create the conditions for the safe

return and rehabilitation of the fleeing Rohingya people to their motherland. The government similarly called on all members of the civilised world to condemn the heinous act and to demand for appropriate punishment to the perpetrators.

WEDNESDAY, ÍŻÍąËœ ͺ͸͚; Ëž T H I S D AY

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PAGE FORTY-EIGHT ABIA GOVT IMPOSES CURFEW ON ABA AFTER SOLDIERS, IPOB CLASH He said: While the Government of Abia State recognises the right of the Nigerian Army and other security agencies to perform their statutory duty of protection of lives and property of Nigerian citizens, such duties must be carried out within acclaimed Nigerian and international standards of engagement with the civil populace, with due respect to the human rights of citizens and the sanctity of human lives.� The Abia governor also expressed concern at “the frenzy of activities of members of IPOB within Afaraukwu, the ancestral home of the leader of IPOB for some months. According to him, while the government recognises the constitutional right of freedom of movement for all Nigerians it “objects to the influx of people into Abia State for the purpose of unsettling the enduring peace in the state�. He assured that his administration was committed to the protection of the lives and properties of its citizens and others residing and doing business within the geographical entity called Abia State. “Abians and others living within Abia are advised to remain law abiding and carry on their lawful business without fear, as efforts by government will be made to reduce friction between the civil populace and military personnel in the state,� he said. The governor “strongly advised� Abia residents “to remain law abiding while going about their lawful business without fear of molestation, and not to engage in any form of confrontation with military personnel or other security agents�.

Kanu Under ‘House Arrest’ But the statement issued by Kanu’s lawyer claimed that at least four IPOB members had been killed in the area when soldiers invaded kanu’s residence yesterday. According to Ejiofor, “Just to notify the world that my client’s (Nnamdi Kanu) house is presently under siege by the trigger-happy soldiers acting under the direct instruction of Chief of Army Staff. “He has been placed under house arrest at the moment while shooting sporadically into the air. “Casualties are being counted as the unprovoked assault progresses. Some IPOB members have just been killed, at least four people. “They drove in, in their thousands to arrest and maim him. I just got a distress call from him now. Further efforts to establish contact with him have remained unsuccessful. “As it stands now, I can’t confirm whether he is dead or alive.� Ejiofor added that Operation Python Dance II, the military operation launched by the Nigerian Army in the South-east to checkmate the separatist group, was principally targeted at eliminating his client, reported online news medium Premium Times. “It is yielding the desired result for the presidency, having launched a manhunt for my client and unarmed members of the Indigenous People of Biafra,� he said. “Let the world know that the federal government has practically abandoned their case in court in search of a brute route to eliminate my client. “As I type this statement, his residence has been cordoned off by the military, majority of whom are of Fulani extraction. “The world should hold the Buhari-led federal government

responsible if anything untoward happens to Nnamdi Kanu. The situation is very tense at the moment,� the statement added. However, the police spokesperson in the state, Geoffrey Ogbonna, denied the claim. He said the army was only on a routine patrol and passed through Kanu’s community. “They have moved on now to other parts of the city. I have been to that area, they were on their normal ongoing show of force. I don’t think they tried to break into the building,� Ogbonna said. Ejiofor had accused the military of killing over 20 IPOB members on Sunday when Kanu’s residence was invaded by Nigerian troops, which the army denied.

Two Feared Dead in Rivers But even as kanu’s lawyer made his claims yesterday, at least two persons were feared dead and scores injured when supporters of IPOB and soldiers clashed in Oyigbo, the headquarters of Oyigbo Local Government Area in Rivers State. The deaths were not confirmed as of press time, just as the army denied deploying its men to the area. THISDAY gathered that problem started yesterday at Oyigbo Express junction, when news reached IPOB members who had gathered there that soldiers had allegedly ambushed and killed eight of their members at 44 Battalion Asa in Abia State. The source said the travelling IPOB members were responding to the call made by their second in command, Uche Mefor, who they claimed called from London, ordering the IPOB members to move down to the residence of Kanu in Umuahia. According to the source, in reaction to Mefor’s call, the IPOB members mobilised and started protesting, with some of them attacking people they suspected were opposed to the Biafra struggle. It was alleged that some IPOB members seized three rifles from policemen and burnt a police van at the junction of Oyigbo, forcing business and shop owners to lock up, as motorists and commuters scampered for safety. The source, who did not want to be named, stated: “At the Oyigbo Express, a Hilux van belonging to the police was burnt, while traders from Northern parts of the country closed their shops and ran for safety, with some of them running to the Oyigbo police station. “At the popular Nkwo Oyigbo market and Afam Road, people ran helter skelter as gunshots boomed from the Oyigbo Express junction, while soldiers mounted at the railway and near Abriba quarters to provide safety to people of Northern extraction,� he alleged. But the spokesman of 6 Division, Nigerian Army, Port Harcourt, Col. Aminu Iliyasu told journalists that no soldier was deployed to Oyigbo to stop IPOB members from travelling to Umuahia. Iliyasu stated that soldiers could only shoot if they were attacked. He said: “I am in Bayelsa now, but people have been calling, telling me that there is a situation in the Oyigbo area. But I don’t know exactly where this is happening. But one thing is certain, no soldier was deployed to Oyigbo and asked to stop IPOB members from travelling to Umuahia.� The violent clash caused serious traffic along Aba-Port Harcourt road, particularly the toll gate axis of Port Harcourt. An eyewitness, Chuks Madu, a trader who was travelling to Aba,

said their bus was trapped at toll gate for several hours, following the blockage on the road by security agents, to forestall the protest escalating to Port Harcourt, the Rivers State capital. Madu said he had to return to Port Harcourt after trekking to Eleme junction before getting a vehicle.

Abia NUJ Secretariat Invaded Meanwhile, over 20 soldiers of the Nigerian Army yesterday morning invaded the press centre of the Nigerian Union of Journalists (NUJ), Abia State Council. The angry and well-armed soldiers who were taking part in Operation Python Dance, beat up journalists and destroyed their phones and tablets. They alleged that the journalists took pictures of a convoy of troops marching through the city of Umuahia. As the operation lasted journalists holed up at the press centre on Aba road were horrified as soldiers ordered them at gun point to surrender their phones and tablets. There was panic and apprehension as passersby scampered for safety around the Abia Tower roundabout where the press centre is located. Some of the soldiers had taken position around the centre while their colleagues were manhandling journalists and destroying their tools inside the storey building. Chairman of Abia NUJ, John Emejor described the army invasion as “a desecration of the NUJ press centre�, adding that it was an affront on democracy. But just as the NUJ condemned the attack on the Abia secretariat, the army high command in the Southeast zone quickly tendered an unreserved apology to its members over the invasion by soldiers, saying that it was “worried by what happened�. The General Officer Commanding (GOC) 82 Division Enugu, Maj.- Gen. Adamu Abubakar tendered the apology yesterday evening at the NUJ press centre. His apology was conveyed by the Deputy Director of the Army Public Relations Unit, Col Sagir Musa, who rushed down to Umuahia at the instance of his boss. “I’m here on behalf of the GOC 82 Division Enugu, Maj.-Gen. Adamu Musa Abubakar to show concern about what happened,� he said. He said that the army would never condone any behaviour by its personnel that was not in line with established norms of engagement with the civil populace, adding that the media remain a critical partner of the Nigerian Army. “I want to assure you (journalists) that it won’t happen again,� he said, adding, “We have noted it, we will deal with it and those responsible would be identified and sanctioned�. Earlier the Commander of 14 Brigade Ohafia, Maj.-Gen. Abdul Khalifah Ibrahim, had visited the press centre, assessed the damage done by the soldiers and described it as “a disaster of unimaginable proportions�. He also tendered his unreserved apology to NUJ. The brigade commander had come to the press centre immediately after attending the state security council meeting in the company of the Commandant of the Navy School of Finance and Logistics, Owerrinta, Commodore Abdul Aminu. Ibrahim said that the soldiers

that invaded the press centre had no authority from anybody to act the way they did. He said that he was already in the state capital when he got phone calls from overseas about what the soldiers had done to journalists in Umuahia, hence he decided to come and see things for himself and apologise. The brigade commander said he cherishes the good working relationship with the media and would not condone anything that could sour the relationship. He promised to replace all the tools of trade of the journalists, including the tablets and phones damaged by the soldiers.

IPOB: Army Wants to Assassinate Kanu However, with tensions escalating in Abia State, business activities were crippled around the Afaraukwu part of Umuahia following the presence of soldiers around the ancestral home of Kanu. The arrival of the soldiers at the junction leading to the palace of the traditional ruler of Afaraukwu, Kanu’s father, sent residents of the area panicking, with shop owners hurriedly closing their businesses. The tension was all the more palpable as some of the armed soldiers paraded around the vicinity of the IPOB leader’s home, apparently in surveillance of the area. While the presence of the soldiers lasted, members of IPOB also kept vigilance in their large numbers to ensure that nothing untoward happened to their leader. Reacting to the “siege� on Kanu’s home, IPOB said that the aim was to “assassinate� their leader and other IPOB members, warning that “killing of unarmed civilians in Biafraland, including Mazi Nnamdi Kanu the leader of IPOB must not be accepted by Biafrans both at home and in the diaspora�. In a statement signed by the IPOB media and publicity secretary Emma Powerful, the Biafra separatist group recounted the clashes that had occurred between the army and IPOB in the past few days, noting that the soldiers had fired live bullets at Kanu’s convoy at Ubakala junction while on an official assignment. IPOB lamented that despite the democratic posture of the Nigerian government, it has turned the South-east zone into a war zone, adding that Umuahia, the capital city of Abia State, had become a dangerous zone since the commencement of Operation Python Dance II. “The Operation Python Dance II is now seriously embarking on forceful abduction of Biafrans, brutalising anyone seen with the Biafra insignia, whether it is on a vehicle or home. “IPOB is putting the world on notice that the Nigerian HausaFulani dominated government plans to kill our leader Mazi Nnamdi Kanu and Biafrans through the launch of Operation Python Dance in the South-eastern part of Nigeria,� IPOB stated. It seriously warned that “this plot to assassinate our leader Mazi Nnamdi Kanu in broad daylight will trigger a catastrophic situation in Nigeria and parts of Nigeria, if they succeed in their evil plot�. The group alleged that it had been informed that Hausa Fulani soldiers had instructed all the Hausa-Fulani living in Biafraland, particularly those in Umuahia and its environs to vacate the place immediately, hence “none of the Hausa Fulani could be sighted or seen anywhere around Umuahia�.

“This is to prove that the Hausa Fulani soldiers deployed to Biafraland are battle ready to decimate Biafra people in their own land while preventing any reprisal that this evil plot might lead to. “But we promise them that IPOB under Mazi Nnamdi Kanu cannot resort to an armed struggle or afford to stop now that we have passed the rubicon because we have achieved a lot towards the restoration of Biafra and God Almighty is on our side, as no man born of a woman can stop the project God Almighty Himself ordained. “We are calling on men and women of good conscience across the globe, lovers of freedom, the United Nations (UN), European Union (EU), African Union (AU), ECOWAS, American Government, Russia Government, Israeli Government, Chinese Government, Turkish Government, Canadian Government, French Government, German Government, Amnesty international, Human Rights Watch, and relevant human rights organisations across the globe to prevail on the Nigeria Government to leave Biafrans alone by fixing a particular date for a referendum on Biafraland to ascertain whether the people want to remain in Nigeria or not, we are not asking for war,� the group added.

Ohanaeze, Senate Caucus Decry Harassment Also reacting to military siege in the South-east, the umbrella body of Ndigbo, the Ohanaeze yesterday called on the federal government to direct the military to call off its operation in the geopolitical zone, describing it as an evasion aimed at intimidating the people. Ohanaeze said in a statement signed by its President General, Chief John Nnia Nwodo that “Nigeria at this moment does not need such deliberate and proactive escalation of tensions and crisis�. According to Ohanaeze, rather than resorting to the use of brute force in the resolution of the demand for self-determination, the government should be more civilised and employ established practices to resolve our democratic and security challenges Ohaneze warned that if “this act of intimidation is not discontinued immediately, it would be left with no alternative than to conclude that this is a containment policy aimed at the South-east to intimidate our people from freely expressing their anger and angst at their marginalisation and treatment as second class citizens�. Nwodo added: “In a democracy, the level of disenchantment expressed by the people of the South-east of Nigeria ought to have provoked a serious dialogue between our people and the federal executive and the legislature. “History teaches us that the continuous use of force to silence dissent and free speech will only accelerate the growth of dissent and dissatisfaction. “Fundamental rights of freedom of expression are critical for a successful democracy.� Ohanaeze said the claim that the military operation was aimed at checking increasing crime in the region, had no empirical support because the first Python Dance was used to extort money from Igbo people and never addressed the issue of crime, more so by the police record that shows that the South-east does not have the worst crime rate in the country. “Our people were shamelessly intimidated and harassed at these check points. Operation Python

Dance I procured no arrests of criminals that were prosecuted for any of the criminal activities that Operation Python Dance II is supposed to address. “Instead it witnessed reckless and indiscriminate murder of self-determination agitators in Asaba, Aba, Nkpor and Port Harcourt numbering up to 191 by the estimates of Transparency International and shattered the public confidence of South-easterners in the Nigerian Army and police,� Nwodo said. With the regard to the incident at the country home of the IPOB leader on Sunday, Ohaneze described it as unfortunate. “We believe that it is a deliberate invasion of a quiet homestead, an act of provocation and a continuing policy of intimidation.� He pointed out that crimes of monstrous proportions were occurring in other parts of Nigeria. “Such crimes include ravaging killings by Fulani herdsmen in the Middle Belt, secret cult killings in Lagos and the South-west, bunkering and armed resistance in the Delta, wanton kidnappings and killing of military personnel in Kaduna State and environs, as well as the Boko Haram insurgency in the North-east. “The Nigerian Army has never embarked on Operation Python Dance in any of the other five geopolitical zones on account of these incidences. “Innocent civilians living in these other parts of Nigeria have not witnessed the type of invasion Umuahia witnessed Sunday night,� he added. Similarly, the South East Senate Caucus condemned the alleged military incursion into the home of Kanu on Sunday, describing the action as a deliberate abuse of his fundamental human rights. The caucus also condemned what it said was the military’s show of force in the South-east states, particularly in the remote villages around Umuahia, Abia State. In a statement by its chairman, Senator Enyinnaya Abaribe, the caucus said the actions of the military suggested willful personalisation of the operation, expressing sadness that such a development was happening after the caucus had extracted a commitment of non-violent agitation from IPOB. “We had hoped that our ongoing engagement with the group be given a chance, and here we are, with a hurried military action deep into a highly populated area with high propensity for casualties, which occurrence would rather escalate the already tense situation. “It is more worrisome that the military’s Operation Python Dance II, restricted to the South-east in peace time, has no doubt fouled the environment and sent a strong signal that the region is under siege, which should not be so in a democracy. “We therefore urge extreme caution and advise the military to de-escalate the situation and choose the best operational modus that will not only guaranty the safety of Nigerians, but also enhance national unity. “Nigeria is not at war, people are only exercising their constitutional and universally guaranteed rights. So far they are carrying on in a manner that has never given room to violence which could warrant a wholesale military expedition,� Abaribe stated. He expressed sympathies with those wounded in the clash on Sunday and reiterated the call for dialogue to all agitations.

WEDNESDAY, SEPTEMBER 13, 2017Ëž T H I S D AY

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NEWS

Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081

Leave South-east Within 48 Hours, Biafra, Zionist Federation Orders Military Christopher Isiguzo Ă“Ă˜ Ă˜Ă&#x;Ă‘Ă&#x; Ă‹Ă˜ĂŽ Paul ObĂ“ Ă“Ă˜ ĂŒĂ&#x;ÔË The Biafra Zionists Federation, (BZF) yesterday gave a 48-hour ultimatun to the military high command to discontinue its operation Python Dance II by withdrawing troops from the South-east zone. The BZF, which is one of the pro-Biafra groups with Mr. Benjamin Onwuka as its leader, insisted that the launch of operation Python Dance II in the South-east by the Nigerian Army was aimed at intimidating the people of the area. The group alleged that lives were lost during the alleged invasion of the home of Nnamdi Kanu last Sunday in Umuahia. In a statement he issued to journalists in Enugu, selfacclaimed Biafra President, Onwuka said the federal government and the Army hierarchy would pay dearly for the lives lost in the said attack. “For sending armed soldiers to Biafra, it is political suicide for them and they will pay dearly for it.

“Army has nothing to do with Biafra and this intimidation will not work. Biafra is alive; Biafra has since been recognized by the US. So, it can no longer be crushed. Our back-up is the US. So, Buhari is wasting his time, because the army will not stop Biafra’s independence. “Sending troops to come to intimidate us is not going to work. Any loss of life by any Biafran, whoever it is, is a great pain and regrettable, but they will pay very dearly. “I am warning them; I’m giving them 48 hours that all troops in the South-east, the South-south and the Middle Belt, must be withdrawn immediately. They are going to pay a heavy price. “My heart goes out to all the Biafrans kiilled and their families. These soldiers are nothing but terrorists. “In the North, the Boko Haram and the Hausa-Fulani herdsmen are killing people in thousands; in the Middle-Belt civilians are being killed by rampaging herdsmen, how many troops have they sent there? But down here, they sent them to kill unarmed

agitators. “So, it is a terrorist attack and they will definitely face war crimes when the time comes. “However, no Biafran should yield to this intimidation; they should go on and fly Biafran and Israeli flag wherever they are,� he said. He equally lambasted son of late Biafra leader, Chief Odumegwu Ojukwu, Emeka Ojukwu Jnr. for saying that his father indeed met with President Muhammadu Buhari in 2003 where they foreclosed Biafra. While describing Ojukwu Jnr. as a liar, the Zionists said “it is very disappointing for Emeka Ojukwu Jnr. to join Buhari in saying that his father dumped Biafra when he was alive. “We have said it before that Buhari lied; we are saying it now that Emeka Ojukwu Jnr. is a chronic liar and a saboteur. Why is he supporting Buhari

who is sending troops to be killing his own people if not for selfish interest, for stomach infrastructure? “Also, in 2013, I visited him in Abuja on his invitation and we discussed Biafra for almost four hours. In that meeting, he even asked me why I did not include his name in the Biafra government we formed then? It is now strange that the same person is saying this now. We also wonder why Ojukwu should visit Buhari in 2003 to discuss Nigeria’s sovereignty when Olusegun Obasanjo, the then President was the one holding Nigeria’s constitution. In what capacity did Buhari receive Ojukwu to discuss Nigeria’s soverignty? The fallacies are so glaring,� he insisted. Also, Southern Nigerians living in the United Kingdom have condemned the deployment of Nigerian soldiers in Southeast region of the country, describing the deployment

as unconstitutional. The group which is a coalition of various South-east, South-west, and South-south groups and professionals in the United Kingdom lampooned the federal government, urging it to refrain from the ‘reprehensive act’ because the country is not at war.  The group in a statement signed by Felix Adejumo, Tochukwu Ezeoke and Charles Omoregie, on behalf of Yoruba, Ibo an South-south groups respectively, after an emergency meeting in London, UK, noted that it was a waste of tax payers’ money for the Nigeria army to be engaging in the duties of the Nigerian police and other security agencies. They stated that “the conditions that allows for the deployment of soldiers in any part of the country as provided for in Section 217 (2)(c) of Nigeria’s 1999 Constitution has not arisen.

�Therefore the Nigerian Army has no business getting involved in the traditional duties of the Nigeria Police.  In the same vein, also, a group under the aegis of South East-South South Network, SESSNet yesterday condemned in strong terms the invasion of the leader of Independent People of Biafra (IPOB), Nnamdi Kanu’s home in Umuahia, Abia State, by the army, saying the invasion was a threat to the unity of the country. The group warned the Nigerian army not to take the patience of South-east and South-south Nigeria for weakness, adding that any attempt by the military to repeat what happened in Zaria, Kaduna State, in the region will immediately lead to breakdown of law and order in the entire country. They stated that “the SESSNet vehemently condemns the military invasion of Kanu’s home.

FG to Deploy 3,000 Agro-Rangers to Protect Cattle Ranches Olawale Ajimotokan Ă“Ă˜ ĂŒĂ&#x;ÔË The federal government has posted 3,000 agro rangers to protect cattle ranches across the country. Vice President Yemi Osinbajo announced this decision yesterday at the National Conference on Transformation of the Nigerian Livestock Industry held at the International Conference Centre, Abuja. He said the armed rangers were trained by the Ministry of Internal Affairs and would be assigned to the ranches to curtail the activities of rustlers. According to Osinbajo, the protection of the ranches would make the cattle rearing business profitable in Nigeria. The vice president, who was represented by Minister of Agriculture and Rural Development, Chief Audu Ogbeh, made the keynote address while declaring the three- day conference open. He similarly announced that the federal government would at the end of the conference, schedule a meeting with some of the neighbouring West African countries on how to control their herds from wandering into the Nigerian borders. He said the nefarious activities often attributed to local cattle breeders were committed by herdsmen from across the West African countries, who roam the country to graze their herds. While also unfolding government plan to provide insurance cover for the sector, Osinbajo, declared that October 19would be dedicated as farmers’ day in Nigeria. He said the day would be preceded by an agricultural show to be held in Keffi, Nasarawa State.

“If there is hunger in the land and the people are not fed, there will be no peace, “ he said. Speaking in his capacity, Ogbeh lamented that the perennial clashes of herdsmen and farmers across the country usually occurred because all the 415 gazetted grazing reserves had been converted to other use. The minister said cows occasionally roamed the streets of the Federal Capital Territory (FCT) because the capital city used to be on the cattle migration route before the seat of government was relocated from Lagos. Ogbeh said 13 states of the federation had also agreed to dedicate 5,000 hectares of land for grazing and organisation of cattle colony. According to him, government was also considering how to convert rice stalk and cassava grass into the production of cattle feed. Ogbeh said cassava grass contains 28 per cent of protein. He said 40 million tonnes of cassava are produced annually in the country. Meanwhile, Ebonyi State has lamented that herdsmen, farmers clashes in the state are often violent because juvenile herdsmen are allowed to rear cattle. The state government’s position was conveyed at the conference by the Deputy Governor, Dr Eric Kelechi Igwe. Igwe, who represented Governor Dave Umahi, said the under-age herdsmen are immature to rear cattle, as they encroach and destroy farm land. He insisted that ranching was the only option in Ebonyi rather than the current open grazing carried out by Fulani herdsmen.

AGRICULTURE AS THE BACKBONE.....

L-R: Governor Mallam Nasir El-Rufai of Kaduna State; his deputy, Barnabas Yusuf Bala; President Muhammadu Buhari; MD/CEO, Africa and Middle East, Olam International, Srivathsan Venkataraman; and Governor Atiku Bagudu of Kebbi State at the inauguration of the Olam Poultry and Feed Mill in Kaduna...yesterday

States Netted N820.7bn in IGR in 2016 Chineme Okafor Ă‹Ă˜ĂŽ Nnenna Akuma Ă“Ă˜ ĂŒĂ&#x;ÔË Internally Generated Revenue (IGR) of most states in Nigeria rose by 20 per cent to eventually settle at N820.7 billion in 2016, despite the significant contraction in the economy, the Nigeria Governors’ Forum (NGF) disclosed yesterday in Abuja. The Director General of the NGF, Mr. Asishana Bayo Okauru, who made a presentation at the launch of the Nigerian Tax Research Network (NTRN), the rise in states’ IGR was occasioned by some reforms targeted at tax systems, minimising incidents of double taxation, remittance and collection systems, as well as automation of tax regimes in the states. Okauru explained that

contrary to reports that states in the country were mostly on negative growth trajectories as a result of low oil income and sharp drop in federation transfers, 23 states in the country had recorded positive growths within the period. He listed the states to include Akwa Ibom, Bauchi, Kano, Kwara, Ogun, and Zamfara, where according to him IGR grew by over 50 per cent. “Reform efforts have been designed to rationalise government expenditure and improve domestic revenue mobilisation in order to achieve fiscal sustainability. I must announce that at the subnational level, we are already seeing good results. “Although, states recorded significant contractions in federation transfers, domestic revenues grew by 20 per cent

from N687.1 billion in 2015, to N820.7 billion in 2016 - this is compared to a three per cent contraction recorded previously,� said Okauru. He further stated: “23 states recorded positive growths, including Akwa Ibom (57per cent), Bauchi (61 per cent), Kano (127 per cent), Kwara (140 per cent), Ogun (111 per cent), and Zamfara (74 per cent) where IGR grew by over 50 per cent.� The NGF, he noted had resolved to undertake active reforms in IGR processes, as well as implement work plans to help states address their fiscal issues through a measure he called Fiscal Sustainability Plan (FSP). “We recently instituted two programmes to support state governments in strengthening their revenue systems - the IGR Dashboard, which tracks tax

and revenue reform processes across states, and a HelpDesk that provides demand-based technical assistance to state governments, including their boards of internal revenue. “On demand-side, we are also implementing a work plan to help states address fiscal issues through FSP. Our work will contribute to the government’s reform process by determining the extent to which current reforms are leading to fiscal sustainability. This will facilitate synergy between the federal and state governments around an agreed pool of interventions,� he added. The NTRN is expected to help deepen issues of tax research and administration in Nigeria, in collaboration with the International Centre for Tax and Development (ICTD).

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FG Markets N100bn Sovereign Sukuk, Arouses Investors’ Interest the DMO, Ms. Patience of our society that requires Oniha, alongside officials of such services.” The Assistant Director, the Federal Ministry of Power, Works and Housing told Planning and Development, stakeholders in Lagos, Port of the Federal Ministry of Harcourt and Abuja that the Power, Works and Housing, debut N100 billion is dedicated Mr. Danlele Yila, listed 25 to building critical road road projects spread across infrastructure in the country. the six geo-political zones of The debut Sovereign Sukuk the country which the N100 is an ethical-based investment billion Sukuk capital will be Onyebuchi Ezigbo ÓØ ÌßÔË Voter Education Committee, in which rent is based on the used. Some of the projects include Mallam Muhammed Haruna investment bi-annually and the The Independent National said: “It will be recalled that in principal sum paid at the end the Loko Oweto Bridge, dualisation of a section of the Electoral Commission (INEC) obedience to an interlocutory of the seven year tenure. Oniha at the various stops Abuja-Lokoja road, dualisation has said it would next Monday order of the Federal High Court, come up with a new date for the Abuja given on July 6, 2017 the on the roadshow assured of the Suleja-Minna road as recall process of the embattled lNEC stayed all actions relating potential investors that the well as the Kano-Maiduguri Senator Dino Melaye. to the petition to recall Senator Sukuk is backed by the full road. Others include dualisation The senator representing Kogi Dino Melaye representing Kogi faith of the federal government and was one of the avenues at of the Kano-Katsina road West senatorial district had West senatorial district. approached a High Court in “All legal hurdles have now which it intends to raise funds (Ohase 1), rehabilitation of the Onitsha – Enugu Expressway, Abuja to quash the recall process been cleared and the recall for capital projects. “This is one of several efforts and the Enugu-Port Harcourt through an interlocutory order. process can now proceed as However, INEC had envisaged by the constitution, to raise funds for specific road (section 1-3), dualisation approached an appellate court the Electoral Act and the extant projects and this is backed of the Ibadan-Ilorin road to upturn the order of the lower lNEC guidelines and regulations. by the full faith of the federal (section 2). Tunde Adama of Citibank, court. Judgment in the suit was “Accordingly and in government. This is a rental delivered yesterday. compliance with the orders product to cater for segment one of the placement In a statement issued of the court, the commission in Abuja yesterday, INEC will release a revised timetable National Commissioner & and schedule of activities on Member Information and September 18, 2017.”

Financial investors across the country have commended the federal government over the N100 billion Sukuk, non-

interest, unveiled by the Debt Management Office (DMO), in a nationwide roadshow. The Director General of

Melaye: INEC to Fix New Date for Recall Process

agents, who spoke to our correspondent after the first session, expressed optimism on the Sukuk. “This is a new product which means new opportunities, new investment. I am confident that it would do well same with other financial instruments such as the FGN Bond, Savings bond and the others the DMO has always put on offer.” The President of Federation of Muslim Women in Nigeria, Rivers State Chapter, Hajia Maimuna Bello, described the offer as a bold initiative to cater for a critical segment of the country, but urged the DMO to deepen its awareness drive. In Abuja, a former Executive Director of the NNPC, Ibrahim Waziri, who welcomed the development expressed the hope that the raised funds would be deployed to the listed projects, stressing that as

an ethical financial instrument, investors are optimistic of timely rental returns. Benefits of investing in the Sukuk, according to the DMO include; safety, regular income which are tax free and liquidity as they will be listed and traded on the Nigerian Stock Exchange and the FMDQ OTC Securities Exchange Plc. The product is also useful as collateral to access loans from banks. The debut Sovereign Sukuk is for N100 billion with a tenure of seven years, and has been certified as ethically compliant by the Financial Regulation Advisory Council of Experts of the Central Bank of Nigeria CBN). It would be listed and traded on the Nigerian Stock Exchange and the FMDQ OTC Securities Exchange Plc, with offer for subscription slated for September 14.

NRC to Deploy Two New Locomotives for AbujaKaduna Train Service CCECC begins technical evaluation of 150km per hour locomotive Kasim Sumaina in Abuja The Nigeria Railway Corporation (NRC) has disclosed that barring any technical hitches, it will next month deploy the two new speed locomotives it acquired for the Abuja-Kaduna standard gauge train service. It noted that once it deploys the new locomotives, timing of its services would be strict, adding that it will obey its schedules strictly and judiciously. NRC Liaison Officer in Abuja, Mr. Pascal A Nnorli, hinted this yesterday while speaking to journalists that “by this week, the locomotives should be fully taken over from the Chinese. Once the NRC takes full possession of the two locomotives, the training of Nigerians who will operate them will commence. “The training will be done by technical staff of the CCECC just like they did before the train service was launched. By this week, the handing over of the new locomotives by the CCECC to the NRC management will be complete and training will commence at once followed by test run before commercial deployment.” The locomotive which had arrived Lagos on July 25, 2017, arrived Idu, Abuja on August 13, 2017, and the offloading was completed on August 14, 2017. “Already, the CCECC has commenced technical evaluation of the two new locomotives before handing them over to NRC. The newly acquired locomotives

are the ones originally billed to be used on the service. The current locomotive in use is a temporal one and was the same one used during the construction. “The new locomotives are built to travel up to 150kilometres per hour. Once deployed, the trains speed will increase and cut short travel time from Abuja to Kaduna from about 2:45minutes to about 1:30 minutes from Abuja. Also, the number of daily trains services will improve from the present four.” He further stated that “the highest we may probably go is 130 per hour for safety concerns. However, when we deploy the new locomotives, we will increase the speed gradually. We may start with 90km/hr and increase to 100km/hr until we get to 130km/hr. “Currently, the NRC trained staff working on the AbujaKaduna rail corridor are 488 compared to CCECC’s 21 technical staff. The NRC also maintains the rail facilities with little technical support from CCECC, especially in track maintenance having acquired the tamping machine, the ballast profiling machine and ballast distribution machine.” Nnorli explained that “the training should last for about two weeks. After the two weeks training, the locomotives will be test run for about a week before it will be launched for commercial operations. All these processes shouldn’t be more than a month, all things equal.”

CHANGE OF GUARDS

Former Chairman of the Independent Corrupt Practices and other Related Offencess Commission (ICPC), Mr. Ekpo Nta (left), handing over to the Acting Chairman, Alhaji Bako Abdullahi, at the commission’s headquarters in Abuja....yesterday

OPC Warns Buhari against Divisive Tendencies Shola Oyeyipo President Muhammadu Buhari has been warned against taking actions that are capable of further dividing the already ethnically polarised Nigeria, especially with appointments considered favourable to the North. Giving the warning yesterday during a press conference held at his Century Hotel, Okota, Lagos, the President and founder, Oodua Peoples’ Congress (OPC), Dr. Fredrick Fasheun, noted that President Buhari has been festering divisive tendencies going by some of his action since assuming office warning that without addressing the issue, sectional agitations will persist. He also aligned himself with most other Nigerians to implore the authority to give restructuring a chance as a way to unify the country by adopting the outcomes of the 2014 national conference, stating that “OPC

hereby joins other Nigerians to demand the restructuring of the country. We cannot continue to do things the same way and expect different results. Time has come for the government to face the fact that Nigerians have drawn the roadmaps for the country’s unity and survival through the 2014 national conference. “Its reports provides the sine qua non, the irreducible minimum requirement, for the country’s peaceful coexistence; and its provisions should be implemented, for the country’s peaceful coexistence; and its provisions should be implemented as a matter of urgency. The OPC leader, who attributed the growing agitation for restructuring to some uncouth statements by the president, stressing that “some of his (Buhari’s) declarations, perhaps made innocently, have

inadvertently only succeeded in dividing the nation, paving way for unbelievers to keep agitating for the irreducible minimums like restructuring, true federalism and devolution of power.” Pointing out that the president has continued to favour his northern kinsmen at the detriment of their southern counterpart, particularly in the area of what he tagged “unhealthy and unbalanced appointments,” Fasheun said President Buhari was contradicting the letter and spirit of the constitution, specifically the Federal Character principle as contained in Section 14(3). He called on the president to reverse the recently announced appointment of the directors of the Nigerian National Petroleum Corporation (NNPC) because out of the 15 appointments, 10, which constitutes 67 per cent come from the mostly

Hausa-Fulani North. Fasheun stated that “Buhari continues this unhealthy trend of northern domination and Southern marginalsation in the nation’s security institutions and today the north holds firmly to the positions of National Security Adviser, Inspector General of Police, Chief of Army Staff, Chief of Air Staff, Chief of Defence Intelligence, Director General, State Security Services (SSS), Comptroller General, Nigerian Customs Service, Comptroller-General, Nigerian Immigration Service and chairman, Economic and Financial Crimes Commission (EFCC).” He also alleged that secret appointments into federal parastatals like the NNPC, NPA, CBN and security arms like the DSS and EFCC have followed similar trend, heavily skewed against the South in favour of the North.

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WEF Ranks Nigeria 114th in Global Human Capital Index Obinna Chima The World Economic Forum (WEF) has ranked Nigeria 114th out of 130 economies in the overall ranking of its Global Human Capital Index for 2017. The WEF disclosed this in its Global Human Capital Report 2017 obtained by THISDAY yesterday. Nigeria was also placed in the bottom 10 in two of the WEF’s pillars - development (122) and Know-how (124). According to the report, Nigeria, which recently climbed out of recession, still has plenty of work ahead to do in order to build a more resilient, futureproof workforce. “Relatively speaking, it (Nigeria) does better in ensuring the talents at its disposal are deployed effectively within the economy (66),” it stated. The Global Human Capital Index 2017 ranks 130 countries on how well they are developing their human capital on a scale from zero

(worst) to 100 (best) across four thematic dimensions—capacity, deployment, development and know-how—and five distinct age groups or generations—0–14 years; 15–24 years; 25–54 years; 55–64 years; and 65 years and over—to capture the full human capital potential profile of a country. It can be used as a tool to assess progress within countries and points to opportunities for cross-country learning and exchange. In addition, the report stated that with an overall average score of 52.97, sub-Saharan Africa was the lowest-ranked region in the index. It ranked Rwanda (71), Ghana (72), Cameroon (73) and Mauritius (74), stating that the respective countries developed more than 60 per cent of their human capital. “South Africa (87), the region’s second largest economy, comes towards the middle in the region. Nigeria (114) ranks in the lower midfield and Ethiopia (127) is the lowest performer,

fourth from the bottom on the index overall,” it added. The top 10 in the ranking were Norway (1), Finland (2), Switzerland (3) – as well as large economies such as the United States (4) and Germany (6). Four countries from East Asia and the Pacific region, three countries from the Eastern Europe and Central Asia region and one country from the Middle East and North Africa region were also in the index. Globally, the latest report found that countries’ failure to adequately develop people’s talents was underpinning inequality by depriving people of opportunity and access to a broad base of good-quality work. It further noted that investments in education often fail due to inadequate focus on lifelong learning, failure to develop high-skilled opportunities and a mismatch of skills required for entering and succeeding in the labour market. Precisely, it showed that 62 per cent of human capital has

now been developed globally, while only 25 nations have tapped 70 per cent of their people’s human capital or more. With the majority of countries leveraging between 50 per cent and 70 per cent of their human capital, 14 countries remain below 50 per cent, it stated. WEF added:”Efforts to fully realise people’s economic potential – in countries at all stages of economic development – are falling short due to ineffective deployment of skills throughout the workforce, development of future skills and adequate promotion of ongoing learning for those already in employment. “These failures to translate investment in education during the formative years into opportunities for higher-quality work during the working lifetime contributes to income inequality by blocking the two pathways to social inclusion, education and work.” A fundamental tenet of the

report was that accumulation of skills does not end at a formal education, and that the continuous application and accumulation of skills through work was part of human capital development. It also stated that all too often economies already possess the required talent but fail to deploy it. The Founder and Executive Chairman of WEF, Klaus Schwab explained: “While much is often made of intergenerational inequalities when it comes to the realisation of human capital, the report finds every generation faces considerable challenges when it comes to realising individual potential. “For example, while younger people are consistently better off than older generations when it comes to the initial investment in their education, their skills are not always deployed effectively and too many employers continue to look for ready-made talent. The problem of under-

deployment of skills among the young also affects those coming towards the end of their working life. “The Fourth Industrial Revolution does not just disrupt employment, it creates a shortfall of newly required skills. Therefore, we are facing a global talent crisis. We need a new mind-set and a true revolution to adapt our educational systems to the education needed for the future work force.” Also, Head of Education, Gender and Work, WEF, Saadia Zahidi, said: “Countries’ strategies for developing human capital should vary according to demographic structure. However, every country risks creating lost generations if they fail to adopt a more holistic approach to nurturing talent that takes into account a proactive approach to managing the transition from education to employment and to ongoing learning and skills acquisition.”

2019: It’s Buhari’s Individual Decision to Make, Says Shehu Sani Damilola Oyedele ÓØ ÌßÔË

and has been in politics and government longer than Senator Shehu Sani (Kaduna anyone in his party or cabinet Central) has said the decision as to know what to do and on whether or not to seek re- the right time to do it.He is election in 2019 is solely that the best person to judge and of President Muhammadu decide for himself what to do.” Buhari, who is in the best The nation still needs his position to judge if he can services but it’s still up to him provide more of his services to decide if he is willing and for the country. fit to provide more or not. Sani, in a post on his The political elite in habit of Facebook page yesterday, applying pressure, are pressure said the political elite who cookers and they see Baba as a are applying pressure on meal and a mill. Baba is like a Buhari to re-contest are doing good driver who has driven for so because they consider him a long distance and so much to be a lifebuoy to their own cherished by his passengers, political survival and relevance. whether he is willing to cover The lawmaker’s position more distance, its best decided contradicts that of Kaduna by him.Every leader chooses his State Governor, Malam Nasir seat and space in the ship of El-Rufai, who recently said he, his and his country’s history,” alongside other supporters of it read. the president, tagged Buharists, “The reasons the masses wants to ensure that the want Baba to continue is not president runs in 2019. the same as with the reason Sani however said several the elite want Baba to seek of those pushing Buhari to re-election. The former see him run again, see him as ‘meal as a good force who should and mill’. continue to lead them to the The Facebook post reads: land of their dreams or the “Whether Baba (Buhari) promised land; the latter will seek reelection or not, see him as the lifebuoy for remains his individual decision their political survival and to make. He is old enough relevance,” Sani added.

Family Announces Justice Nwokedi’s Death The Uthoko Na Eze family of Achalla, Anambra State has announced the demise of their patriarch, a retired Justice of the Supreme Court, Justice PK Nwokedi. According to a statement by the Uthoko V of Achalla, Igwe Alex Ezeoba Nwokedi, the late Justice Nwokedi, who was also a former Chief Judge of the old Anambra State,

Chairman of the Nigerian Law Reform Commission and the first Chairman of the Nigerian Human Rights Commission. He survived by five children, 10 grand-children, one great grand-child, many brothers, sisters, nieces, nephews and cousins. He added that funeral arrangements would be announced by the family in the course of time.

DMO ROAD SHOW

L-R: Company Secretary, Lotus Capital Financial Services Ltd, Mas’ud Balogun; Secretary, Financial Regulation Advisory Council of Experts,CBN, Dr. Bashir Aliyu Umar; CEO,Fabs Group, Aisha Dankani; Director-General, Debt Management Office (DMO), Ms. Patience Oniha; Assistant Director, Planning and Development, Federal Ministry of Power, Works and Housing, Mr. Danlele Yila; Director,International Institute of Islamic Banking and Finance,Bayero University, Kano, Prof. Binta Tujjani Jibril; Head,Abuja Business Office Coverage and Corporate Banking FBN Merchant Bank Ltd, Ruqaya Nasir-Usman; and MD/CEO Grassroot Microfinance Bank Kano, Farida Tahir, during the SUKUK pre-offer road show with investors by the DMO in Kano....yesterday

Ghana’s President Says Buhari’s Illness Made ECOWAS Leaders Anxious Omololu Ogunmade ËØÎ Alex Enumah ÓØ ÌßÔË The President of Ghana, Nana Akufo-Addo, yesterday said President Muhammadu Buhari’s illness created a volume of anxiety within the rank and file of the Economic Community of West African States (ECOWAS). Akufo-Addo who made this remark while answering questions from State House correspondents in the Presidential Villa after visiting Buhari, said he was very glad to see the president in his vigorous and lively state. Ghana’s president who arrived at the State House at about 3:11 p.m. and was received by Buhari

in company of his Chief of Staff, Malam Abba Kyari, and other State House officials, later went into a closed-door meeting with the president. Answering questions after the meeting, Akufo-Addo said he had opted to visit Buhari to see for himself his state of health and how he’s faring, pointing out that the 30 minutes he spent with him was not a dull moment as the president was “vigorous and engaging” in all issues they discussed. Akufo-Addo who also said he discussed issues affecting ECOWAS community with Buhari, added that he was returning to Ghana with excitement that following

Buhari’s wellbeing, it is well with Nigeria which he described as Ghana’s big brother. “I came from Accra today to visit my senior brother, President Buhari. All of us have been very anxious about his wellbeing and it was a very good news that he had returned. As an African, I have to come and see for myself how he is. I am very delighted to see that he is back, very vigorous as always, very engaging on the issues of our day. “We had a good half an hour together, reviewing matters both in Ghana and Nigeria as well as immediate matters about what is going on in the ECOWAS community. So, I am happy

that I have this opportunity to come, and I am going back to Ghana very fortified to tell the Ghanaian nation that our big brother Nigeria is well and things are well,” Akufo-Addo said. Akufo-Addo also said both of them reviewed issues affecting both countries. “We reviewed issues of interest to both countries and those of the ECOWAS,” he added. Also speaking on the meeting of the two West African leaders, Buhari’s chief spokesman, Mr. Femi Adesina, said the visit would further strengthen bilateral relations between Nigeria and Ghana.

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Agriculture Remains Most Viable Option for Economic Diversification, Says Buhari John Shiklam ÓØ ËÎßØË President Muhammadu Buhari yesterday said agriculture remains the most viable and all encompassing option that will ensure the diversification of the nation’s economy. The president spoke at the inauguration of the $150 million Olam Integrated Poultry Farm and Feed Mill in Kaduna. The event was the first public function to be attended by the president since his return from medical leave in London. Buhari arrived at the premises of the company along the Kaduna-Abuja expressway at about 10a.m however, left immediately for Abuja to attend a state function after the Kaduna State Governor, Mallam Nasir el-Rufai, presented his address. Buhari however cut the tape to officially inaugurate the Singaporean company. His address was presented on his behalf by the Minister of Agriculture, Chief Audu Ogbeh. According to the president, the recent exit of Nigeria from economic recession announced by the National Bureau of Statistics (NBS) could only be applauded with its positive impact on Nigerians. He said the inauguration of the facility in Kaduna was an indication that Nigerians and indeed foreigners had come to term that the country was conducive for investment. Buhari said: “When our administration promised Nigerian change, many did not know what it meant” stressing that change had taken place in the agriculture sector.

“This massive edifice put in place by Olam is one of the largest agricultural firms in our beloved country. I am told that this is one of the biggest investments in poultry industry in Nigeria. “We are particularly pleased to participate in this event because it is clear evidence that in spite of all odds, economic growth is taking place especially in the agriculture sector. “This was our promise at the inception of our administration when we came in to deal with challenges in the economy which was almost appearing insurmountable. “It is our article of faith and our earnest belief that agriculture offers the most viable and all encompassing options in our attempt to diversify our national economy. “It is in this connection that we must first be able to say to ourselves that we must be able to feed ourselves on what we grow and grow what we eat before we can comfortably turn our attention to many of the other key concerns of our daily lives. “About six months ago, we announced to the world that we are in a recession. We announced the recession ourselves. We were bold enough to admit it and we were honest about it. “When the National Bureau of Statistics presented a green picture of this state of affairs, we accepted the reality and confronted it headlong with courage and perseverance.

“Now a few months down the road, the bureau of statistic has released the cheering news that we are getting out of the fit of recession. “Even though the statistics are still fragile and we have no illusion that we need to even work harder to get to that economic level that is satisfactory, we are happy to note and we believe that the majority of Nigerians are also happy that we are getting out of possibly the worse economic scenario in our country’s history..... “ Earlier in his address, el-Rufai said the presence of the company would enhance the capacity of farmers and improve the living condition

of the people. He disclosed that the state government paid over N500 million as compensation to farmers and other land owners to acquire the land which was given free to the company. “We are able to do this because the state has shown that it was open to business.” “This was a company that had invested in Nigeria in the early 80’s and had to migrate to Singapore. Your excellency may wish to recall that when you invited me to be part of your delegation around 2015 for the United Nations General Assembly and I told you that I have an investment trip, you gave me the full support and approval to go. “This was the outcome of the trip as on April 8,

2016 the ground breaking foundation laying ceremony was held and after 17 months, it has become a reality,” the governor said. He disclosed further that the plant would be producing 1.6 million chicks weekly, adding that so far, about 50,000 jobs had been created. Also, in their goodwill messages at the occasion, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, and the Emir of Kano, Mohammadu Sanusi II, harped on the need to focus on the agriculture sector of the economy. The CBN governor said the facility is a very laudable investment that would boost economic growth and reduce unemployment, poverty and

youth restiveness as well as reduce the importation of items and save foreign exchange for the country. “I am delighted that the Kaduna State Government is implementing appropriate policies to make Kaduna a destination for local and foreign investments,” he said. On his part, the Kano emir said the agriculture sector was crucial to securing employment for Nigeria’s teeming young population. He called on Nigerians to invest in the productivity and profitability of agriculture Sanusi said he was delighted with the number of direct and indirect jobs that would be created by the company.

FG Releases N2bn for Take PARTNERS IN PROGRESS L-R: Deputy Country Director, Agence Francaise De Developpement (AFD), Andre Hue; CEO, InfraCredit, Chinua Azubike; Country Director, off of Maritime Varsity in AFD, Olivier Delefosse, at courtesy visit to InfraCredit’s Office in Lagos…recently October Ndubuisi Francis ÓØ ÌßÔË The federal gvernment announced yesterday that it had rreleased N2 billion for the take off of the Maritime University, Okerekoko Delta State by October. The Vice President, Prof. Yemi Osinbajo, who disclosed this in Akure, Ondo State while declaring open the second National Council on Niger Delta said that academic activities would soon commence at the university, adding: “We believe that as soon as it takes off, of course, academic activities and engagement and all of that will go on within the period.” The theme of the second National Council on Niger Delta organised by the Ministry of Niger Delta Affairs is “Fasttracking the development of the Niger Delta region: options and prospects.” Osinbajo, who restated the commitment of the present administration towards rapid development of the Niger Delta region, added that “for us development of the Niger Delta region is not optional.” The vice President also noted

that the issue of Ogoniland clean-up was very much on course and that the government was working towards ensuring that right things were dome at the right time. He promised that the clean-up exercise would not be limited to Ogoniland alone but all other affected areas in the oil-rich region. The present administration, he said, was ready to support the establishment of modular refineries in the region in order to create wealth and employment in the region in particular and the country at large “One of our plans for the Niger Delta region is to support the establishment of privately owned modular refineries. Many of the licences handed out by the previous administrations have since expired. “The biggest challenge that these licenses have being facing has been funding,” he said. Osinbajo also disclosed that the administration was committed and now working towards establishment of Refineries Infrastructure Development Fund (RIDF) to support the investments.”

Report: Policy Inconsistency, Infrastructure Deficit, Bane of Manufacturing Sector

Ndubuisi Francis ËØÎ Udora Orizu ÓØ ÌßÔË Unfavourable foreign exchange rates, infrastructure deficit, policy inconsistency, and weak demand, among others, are the bane of the nation’s manufacturing sector, a new survey has revealed. The Manufacturing Sector Survey 2017 which was conducted by NOIPolls, in partnership with the Centre for the Study of the Economies of Africa (CSEA), covered a total of 496 companies across 12 states (two per geo-political zone). It was conducted between February and May 2017 and identified unfavourable foreign exchange rates (55 per cent), bad roads (55 per cent), unavailability of petrol and diesel (47 per cent), limited access to credit (45 per cent), policy inconsistency (44 per cent), lack of infrastructure ( 39 per cent), unstable power supply (31 per cent) and weak demand (29 per cent) as the major challenges facing the manufacturing sector. The CEO of NOIPolls, Dr. Bell Ihua, who unveiled the

report at a press conference in Abuja yesterday, said the survey proved that 74 per cent of the manufacturing companies found the business environment unsupportive in 2017, adding that the finding represented a 14-point increase over the 2016 result (60 per cent). He noted that that pointed to a worsening of the business environment. Similarly, lack of infrastructure, red-tape and corruption were identified as some of the structural bottlenecks stifling the business environment. According to him, 85 per cent of manufacturing companies surveyed are not operating up to 75 per cent of their installed capacity. This was attributed to weak demand (69 per cent), poor power supply (58 per cent), petrol/diesel unavailability (38 per cent), limited access to foreign exchange (26 per cent). Almost half of the companies interviewed (48 percent), he said, considered importation of raw materials critical to their production; particularly

medium-to- large manufacturing companies, with up to 62 per cent of input imported. Also, 75 per cent of manufacturing companies indicated that the disparity in foreign exchange rates has had negative impact on their operations. In the same vein, 80 per cent of the companies affirmed that inflation has had a negative effect on their businesses. The survey showed that all the manufacturing companies interviewed disclosed that recession had impacted their business operations and profitability, with 70 per cent stating that it had impacted their businesses negatively. On the issue of bad roads, the survey found the South-west (59 per cent), South-south (49 per cent), North-central (46 per cent) and South-east (43 per cent) regions as the most affected regions with poor state roads. In particular, manufacturers lamented the poor state of some roads such as Apapa-Tin Can Access road, Lagos-Ibadan express road, Benin-Ore road,

Oyo-Ogbomosho (South-west), East-West road, Benin-Agbor road, and Aba-Port Harcourt road (South-south). Others are Ajaokuta-AyangbaNsukka road, Lokoja-Ajaokuta road, Obajana-Okene road, and Makurdi-Enugu road, among others. The Director of Research, CSEA, Dr. Adedeji Adeniran, gave the key findings of the report which showed that over the past years, the Nigerian manufacturing sector has experienced dismal performance,due to a number of structural and systematic challenges creating a more challenging environment for manufacturers to operate. The major finding from the survey of manufacturing firms shows that the key performance metrics and profitability have worsened due to widening forex spread, economic recession and inflation. The overall business environment is also becoming increasingly unsupportive for business growth and development.

WEDNESDAY, SEPTEMBER 13, 2017Ëž T H I S D AY

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No Truth in Alleged Jonathan, Dickson Rift, Says Makarfi Says PDP yet to fix date for convention Onyebuchi Ezigbo Ă“Ă˜ ĂŒĂ&#x;ÔË The Chairman of the National Caretaker Committee (NCC) of the Peoples Democratic Party (PDP), Senator Ahmed Makarfi, yesterday dismissed reports of a brewing political crisis in its Bayelsa State chapter. Makarfi, who made the clarification when he received a delegation of Bayelsa State executives at the national secretariat in Abuja, said contrary to the insinuation that there is a dispute between former President Goodluck Jonathan and the state Governor, Seriake Dickson, both men have been working together to strengthen the party. The PDP leader said he has been in communication with both Jonathan and Dickson, and that there was no dispute between them. He said he has found out that some mischievous people were out to create crisis for the state PDP, adding that the petition that generated concerns was baseless. Makarfi however warned the leadership of the party in the state against dancing to the tune of mischief makers to avoid generating problems in the party. He dismissed the erroneous impression being created that

Jonathan was trying to hijack the party structures in the state, describing such insinuation as false. Makarfi said he has been in touch with ex-President Jonathan who has always emphasised the need to ensure that there is unity in the party. He described the rumour as the handiwork of detractors who are seeking ways to destabilise the state chapter. According To him, “Don’t allow yourself to be fragmented by rumour. Your executive has been ratified by the convention and that is final. There is no need to pander to rumour of an impending sack of the exco. Immediately the rumour broke out, the former president called me to dismiss that rumour, and he said there is no iota of truth in the said petition against the state executive.� In his remark, the Chairman of the state chapter of the PDP, Moses Cleopas, said: “The former President is no doubt a respected national leader, and we hold him in high esteem in the state as our father. While pledging their allegiance of the state chapter to Makarfi-led leadership, he said that it is only the state chapter of the PDP that has ever won a major election in the country under a platform that is not controlling the power at the

Floods Displace 10,000 People in Kogi Yekini Jimoh Ă“Ă˜ ÙÕÙÔË The governor of Kogi State, Alhaji Yahaya Bello yesterday disclosed that over 10,000 people have been displaced in the state as a result of the flooding in several communities. He made this known when he visited some affected areas in the state and also paid a visit to internally displaced persons’ camps across the state. Bello, who stated that anytime there is heavy downpour, the Rivers Niger and Benue always overflow their boundaries, noted that the impact on the state where Nigeria’s two major rivers meet is significant on the people. He added that many communities, notably, Ibaji, Ajaokuta, IgalaMela/Odolu, Bassa, Koton-Karfi and Lokoja were badly affected. The governor called on the federal authorities to come to the aid of Kogi State, saying: “The state is in dire need of humanitarian interventions.â€? He stressed that thousands of houses had been submerged by floods in some flood plains in Lokoja and Ibaji, describing the situation as “desperately patheticâ€?. “The Kogi State Ministry of Environment and Natural Resources has been stretched to the limit. The state government is providing immediate interventions within its financial capacity, but what government has been able to do is grossly

inadequate. “Apart from Nataco, Sarkin Numa, Ganaja and other areas in Lokoja where floods have taken over communities, the fury of the flood in Ibaji has completely sacked people from their homes and farmlands. “Some people are climbing trees to survive. There is urgent need to relocate the affected people and settle them in camps. “We call on the National Emergency Management Agency to quickly come to our aid. The State already has a situation room under the leadership of the Commissioner for Environment and Natural Resources to collate the realities on ground. “What we have at the moment is of frightening enormity that requires urgent attention. Government has all the information that will be required by NEMA, the situation is getting worse by the day. “As the center of the nation, a locked-in Kogi will affect the entire nation. Roads have been taken over, people now sleep on the streets and nursing mothers are gory sights to behold. “We call on federal agencies and the international community to quickly come to our aid,� the governor said. He urged people still living in flooded homes to vacate them, saying it was unsafe to reside in flooded apartments.

centre. The PDP has said no date has been fixed for its elective national convention, which is expected to hold before the end of this year. The Chairman of the

PDP National Caretaker Committee, Senator Ahmed Makarfi, who spoke yesterday when he received members of the PDP Integrity Group yesterday evening, said  there is a processes to be followed

before arriving at the national convention date, adding that the party was yet to meet over the issue. “We have not fixed date for the elective convention; it is only NEC (National Executive

Committee) that can fix the date. “Our priority is to see that we have a successful elective convention so that whoever takes over from us will continue from where we stopped,� Makarfi stated.

SIGNED AND SEALED

L-R: Director of Logistics, Nigerian Bottling Company (NBC), Danny Collins; Executive Director,Aquila Leasing Ltd, Nnamdi Nwankwo; Director of Procurement,NBC, Deepak Juneja; Managing Director, Aquila Leasing Ltd, Chuka Onwuchekwa, during the signing ceremony of a new operating lease contract by Aquila Leasing and NBC in Lagos....recently.

UN Calls for Increased Humanitarian Intervention in Lake Chad Basin Food insecure people now 5.2 million in North-east, FAO reveals Michael Olugbode Ă“Ă˜ Ă‹Ă“ĂŽĂ&#x;Ă‘Ă&#x;ĂœĂ“ The United Nations UnderSecretary General for Humanitarian Affairs and Emergency Relief Coordinator, Mark Lowcock, yesterday said there was need to scale up humanitarian intervention in the Lake Chad Basin presently bedeviled by the Boko Haram crisis. This came as the Food and Agriculture Organisation of the United Nations (FAO) has raised an alarmed that the food insecure people in the Boko Haram ravaged North-east has risen to 5.2 million. Lowcock, who addressed a press conference in Maiduguri after a visit to Niger and Nigeria to assess the humanitarian crisis in the Lake Chad region as a result of the protracted Boko Haram insurgency, said: “The problem of cholera that has emerged (recently) is the symptom of the overall crisis and we definitely need to scale up the humanitarian intervention in the region. “We need more finances in order to meet the humanitarian needs of the region and that is the message I will take back with me to New York.â€? Lowcock, who explained that his visit was to have firsthand information of the crisis before the meeting with the United Nations Security Council slated for next week, said a session would be held to discuss the

crisis in the Lake Chad Basin with the view to finding permanent solution to it.� According to him, “Clearly, there has been important progress in bringing security and safety across the region in the last two years. There is the need for the scale up of humanitarian effort to this region, which includes getting access to people to prevent starvation. “I wanted to come here because next week, the leaders of the UN will be meeting and we need to know what the situation is right now and I am taking with me messages.� He said: “I have come to Niger and Nigeria to see the impact of the massive Lake Chad Basin crisis and the response with my own eyes, and most importantly, to listen to the people affected. I will bring their stories to world leaders at the UN General Assembly next week.� He added that his visit has given him information on the need for substantial need for protection, security and safety. He noted that though progress has been made on this “but there is still substantial need for further progress.� Lowcock lamented that he discovered that women and children in particular are still endangered, and there is need for protection

dealing with sexual based violence. Meanwhile, the FAO has raised an alarm that the food insecure people in the Boko Haram ravaged North-east has risen to 5.2 million. The organisation in its situation report made available to our correspondent, said the increase in the food insecure people rose from 4.7 million to 5.2 million people in the crisis ridden region between March and June, this year.  It lamented that the “ongoing lean season is contributing to a deterioration in food insecurity in northeastern Nigeria – in the three most affected states, the number of food insecure people increased from 4.7 million to 5.2 million people between March and June.� It stated that: “While planted crops are generally benefiting from average rainfall across the country, heavy rains have led to widespread flooding, severely affecting areas of Yobe State and impacting livelihoods. In addition, crop production is affected by infestation of the fall armyworm in some farming communities.� It was revealed that in order to help alleviate food insecurity in conflict-affected Adamawa, Borno and Yobe States, FAO provided 1.09 million IDPs, host community members and returnees with enough seed and fertilizer to meet their food needs for six months.

It further stated that there was shortfall in the resources required to stem the tide of food insecurity in the crisis ridden region as funding was short in coming. “To-date, FAO’s appeal for USD 62 million – contributing to this year’s Humanitarian Response Plan – to respond to the food security and livelihood needs of the most vulnerable is just 33 per cent funded,� the report lamented. In October, FAO will launch its dry season programme to assist around 70,000 farming households to bolster their capacity to grow food, thereby reducing impact of the food crisis, improve nutritional status and aid income generation. The report lamented that, “heavy rains in August have led to flash floods and widespread flooding, particularly affecting areas of Yobe State. The flooding has destroyed properties and displaced people – including farmers – in Karasuwa Local Government Area.  “Preliminary assessment reports further indicate water logging in some crop fields and windstorm damage in Wachakal and Jajimaji areas. Farming communities are also facing the impact of fall armyworm infestation on crop production, and insecurity has impeded agricultural activities in some areas. Nonetheless, harvesting in the northeast will soon begin and prospects for cereal crops are expected to be favourable.�

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Passengers Arrested over Disruption of Air Peace Flight in Lagos Chinedu Eze The management of Air Peace has confirmed that three passengers were last Monday taken in for interrogation by security agents after they disrupted and delayed its 18:30 Lagos-Abuja flight for three hours.

A statement issued by the airline’s Corporate Communications Manager, Mr. Chris Iwarah, said security personnel of the Federal Airports Authority of Nigeria (FAAN) had to be called in after efforts to get the passengers to back down on their unruly conduct failed.

Senior Civil Servants Put off Strike Senator Iroegbu ÓØ ÌßÔË The Minister of Labour and Employment, Senator Chris Ngige, and the Association of Senior Servants of Nigeria have agreed to temporarily put off their strike notice untilSeptember 20, 2017. Ngige in a statement yesterday night by the Deputy Director (Press), Ministry of Labour and Employment, Mr. Samuel Olowookere, said this is to enable the federal government to show good faith by commencing the payment of promotion arrears owed to civil servants. The minister at a meeting brokered as the nation’s chief conciliator, said the federal government would do all that was necessary to meet up with the demands of the civil servants and the timeline in the agreement. He said: “Among others, the meeting agreed that 30 Ministries, Departments and Agencies (MDA) that the Office of the Accountant General of

the Federation reported having cleared their allowances, amounting to N1.165 billion should start to receive credit of payment to their account bySeptember 20, 2017. “It also agreed the office of the Accountant General of the Federation should also provide the list of the 30 MDAs in reference to the office of the Minister of Labour and Employment by September 13, 2017.” Ngige said the conciliation meeting further set up a sevenman committee to be chaired by the Permanent Secretary of the Federal Ministry of Labour, with three members each drawn from the government negotiating team and the labour association respectively to oversee the implementation of the decisions. The minister had earlier while addressing the union restated the unflinching commitment of the Buhari administration to the welfare of workers.

BRIPAN to Help Govt Restore Confidence in Doing Business in Nigeria Sunday Okobi In view of major challenges in the political and economic environment in the country, Business Recovery and Insolvency Association of Nigeria (BRIPAN) has stated that the association is set to help the government restore confidence in the act of doing business in Nigeria. The association stated this yesterday at their annual general meeting in Lagos. The BIRPAN President, Sola Oyetayo, said in his remark that association has had a significant growth in terms of publicity, visibility, rebranding, training, membership and financial base, “which has led to the immense contribution to redefining and refashioning how business of Government is conducted in Nigeria.” According to him, “We are focus on business rescue mechanism to tackle insolvency and turn around management. If you look at the events that have come up, we are trying to project the sustainability and rescue of business to avoid them dying. Just take a look at the case of Etisalat, it would have been a typical business failure. What really happened is business rescue mechanism

because with that kind of thing, it is better for business to be in existence than to die.” Oyetayo noted that they need a body of experts to ensure they help those shaky businesses, and restore confidence in investors. He disclosed that BIRPAN was in touch with the Presidential Enabling Business Environment Council on Ease of Doing Business, adding that resolving insolvency is a major indicator in ease of doing business in the country. According to him in his remark, “On May 25, 2017, I led the delegation of the executives of the association to visit the Chief Justice of Nigeria (CJN), Justice Walter Onnoghen to forge an alliance for better exposition of judges in the area of insolvency. We also informed the CJN the decision of the association to confer on him the membership of the association. “The CJN assured us of his full support in conjunction with the National Judicial Institute. We have put together training programmes for Nigerian Judiciary on Insolvency and Business Rescue Mechanism. INSOL International has signified its intention to assist in this respect.”

Although the names of the passengers were not made public, but THISDAY gathered from the terminal manager in charge of the General Aviation Terminal (GAT), Mr. Tunde Ogini, who confirmed the incident and said the passengers who were two males and one female, had been taken to the Central Investigation Bureau (CIB) also known as Tango City, located at the international terminal of the Murtala Muhammed Airport, Lagos for further investigation. Narrating the incident, spokesman of Air Peace, Chris Iwarah, in a statement said: “We wish to confirm and set the record straight on the unruly and disruptive conduct of three passengers (two men and a lady) on our 18:30 Lagos-Abuja service on Monday, September 11, 2017. “During the pre-departure safety briefing by our crew, the

three passengers began to query the seating arrangement of the aircraft. Efforts by our crew to let the passengers understand that the seating arrangement was as approved by both the US Federal Aviation Administration (FAA) and the Nigerian Civil Aviation Authority (NCAA) were rebuffed. The pilot-incommand of the flight was later briefed by the crew to intervene. Again, the passengers refused to cooperate with the captain. They insisted on bringing our engineers on board to confirm the airworthiness of the aircraft,” Iwarah said. He also complained that the passengers insisted that the aircraft was unsafe and would suffer the fate of one other domestic airline which aircraft crashed some years ago. “The unruly passengers prevented our crew from continuing with the safety briefing. Understandably, other passengers on board the

flight became apprehensive and insisted on the unruly passengers being taken off the flight. “The pilot-in-command, therefore, had no choice than to request the unruly passengers to disembark. The passengers, however, refused to comply, leading to the captain of the flight calling for the intervention of FAAN security personnel. The passengers also refused to refrain from their disruptive conduct upon the intervention of FAAN security personnel.” The Air Peace spokesman also noted that after about three hours delay, two of the disruptive passengers eventually agreed to disembark, while the lady among them was adamant, but later agreed to disembark upon other passengers’ intervention after delaying the flight for almost three hours

in total, adding that the three passengers were eventually taken in for interrogation by FAAN security personnel, who later transferred them to the police for further investigation. “We confirm that the aircraft’s seating arrangement is as approved by both domestic and international aviation authorities, including NCAA and FAA, and in compliance with global best practices in the aviation industry. While we will continue to treat all our valued guests with the greatest respect and courtesy, we will never allow a tiny minority of customers jeopardise the safety and comfort of our customers and the overall safe operation of our flights. The unfortunate incident ofMonday is now being addressed by the nation’s security agencies. We trust the security agencies to resolve the incident without bias,” Iwarah said.

ANNUAL GENERAL MEETING

L-R: Treasurer, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN), Mr. Oluwatoyin Olorunleke; Newly elected President of the association and the Akarigbo Elect of Remoland, Prince Babatunde Adewale Ajayi; immediate past President of BRIPAN, Mr. Sola Oyetayo; and General Secretary of the association, Mr. Chimezie Victor C. Ihekweazu, at the annual general meeting of the association in Lagos.... recently.

72nd UN General Assembly: FG to Solicit Int’l Support for Release of Remaining Chibok Girls Also repatriation of seized loot abroad Alex Enumah ÓØ ÌßÔË When the 72 United Nations General Assembly convenes next week in the United States of America, some of the priority issues Nigeria will pursue at the gathering is to rally the international community in her quest for the release and safe return of the remaining Chibok school girls still in captivity of Boko Haram insurgents. The nation is also planning a follow up on the resolution she presented at the 71st session on the need for international cooperation in combating illicit financial flows and enhance asset recovery which she believes is crucial in fostering sustainable development. Minister of Foreign Affairs, Geoffrey Onyeama, made the disclosure yesterday in Abuja during a briefing on Nigeria’s

participation at the 72nd UN General Assembly. Onyeama, while noting that the occasion provides a high level window of opportunity to advance Nigeria’s actions towards the promotion of peace and implementation of the Sustainable Development Goals (SDGs), said the nation would seize the opportunity to inform the international community on the successes recorded in the fight against terrorism, corruption and others. “Government’s efforts have resulted in the release of over 80 school girls kidnapped by Boko Haram insurgents in Chibok, in 2014. We will call for continued international support to ensure the safe release and Return Of the remaining school girls,” he said. On the issue of Nigeria’s looted funds abroad, Onyeama said it is time for the repatriation

of the proceeds of Illicit financial assets to countries of origin, adding that Nigeria would follow up on the resolution she initiated last year at the assembly. He said Nigeria would also be advocating for the eradication of poverty through partnerships which focuses attention on people and the planet, in line with the SDGs 1. Also of importance to the country is the fight against corruption, which Onyeama said the successes recorded by the Buhari’s administration led to his adoption last July by the African Union, to champion the fight against corruption on the continent. “Nigeria will therefore, build in this foundation and encourage an inclusive internationally coordinated approach to fight corruption,” he said. On the international front,

Onyeama disclosed that Nigeria would lend her voice to support call for the immediate reform of the United Nations for effective and balance representation. “The temporary call for the reform of the UN Security Council, is for transparent, accountable council. “To this effect, Nigeria will call for the comprehensive reform of the United Nations, particularly the Security Council, to reflect equitable and fair representation. Africa must be adequately represented on the Security Council in the permanent membership category. In this regard, Nigeria stands ready to serve Africa and the world in advancing international peace and security,” he said. Onyeama further pledged Nigeria’s commitments in working closely with the UN Secretary-General in promoting Africa’s interest.

T H I S D AY ˾ WEDNESDAY, SEPTEMBER 13, 2017

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WEDNESDAYSPORTS

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

U E FA C H A M P I O N S L E A G U E

Ruthless Chelsea Equal Their Best UCL Record, Hammer Qarabag 6-0 Davide Zappacosta scored a spectacular goal and Michy Batshuayi scored twice as Chelsea thrashed Champions League debutants Qarabag 6-0 on their return to European competition yesterday. The Blues - who did not qualify last season - rested several firstteam players for the visit of the Azerbaijani champions, but still won with ease. Pedro opened the scoring with a 20-yard curler from Willian’s lay-off. Italy right-back Zappacosta, on his first Blues start, ran 50 yards down the right wing, before sending over a cross that flew past Ibrahim Sehic. Cesar Azpilicueta headed home a third after the break from Cesc Fabregas’ cross. Willian hit the crossbar, and substitute Tiemoue Bakayoko scored his first Blues goal with a deflected shot from close range. Batshuayi then scored twice in the final 15 minutes - firing in from outside the box after being picked out in space by Bakayoko and then scrambling

home Zappacosta’s cross. The win, Chelsea’s joint biggest in the Champions League, was always likely to be the easiest game in the group, with Roma and Atletico Madrid the other two teams in Group C. Those sides drew 0-0 in Rome’s Olympic Stadium.

RESULTS Celtic 0-5 PSG Benfica 1-2 CSKA Moscow Man Utd 3-0 Basel Olympiakos 2- 3Sporting CP Bayern 3-0 Anderlecht Roma 0-0 Atletico Chelsea 6-0 Qarabag Barcelona 3-0 Juventus

TODAY 7:45pm

Maribor v Spartak Moscow Tottenham v Dortmund RB Leipzig v Monaco Feyenoord v Man City Shakhtar v Napoli Liverpool v Sevilla Porto v Besiktas R’ Madrid v APOEL

NCC League Thrilling Tennis Fans in Lagos, Port Harcourt, Ilorin Blessing Samuel of Team Kalotari clawed back from being 2-6, 0-5 down to prevail 2-6, 7-6, 6-3 against Team Muller’s Ronke Akingbade at the ongoing NCC Tennis League Blue Group match in Port Harcourt at the weekend. It was a crucial round-robin tie between Team Kalotari of Port Harcourt and Team Muller of Lagos. The match, which saw a catalogue of errors and winners in the very dramatic second set will live in the memories of tennis aficionados in the Garden City as set points changed hands at least 10 times before Samuel finally clinched the set. A disappointed Akingbade could not recover and lost the final set. The victory, which had Team Kalotari lead 2-1 on the opening day could not save the Port Harcourt team as an angry Team Muller came on the second day to sweep the reverse singles and the men’s doubles to clinch the tie and, effectively, a semifinal spot. Before then, Joseph Imeh defeated Christian Paul 6-2- 4-6, 6-3, while Emmanuel Sunday beat Emmanuel Idoko 6-4, 6-4 in the men’s singles. Imeh thrashed Sunday 6-2, 6-0 and paired Mohammed Mohammed to win the men’s doubles against Sunday and Paul 7-5, 6-3. Idoko made up for his first singles loss by overcoming Paul 7-5, 6-3 in the second reverse singles. Team Kalotari mixed double team of Samuel and Ikechukwu

Iloputa consoled their fans by winning the mixed doubles against Mohammed and Akingbade 6-4, 6-1. The two other ties in Ilorin and Lagos were not as eventful, as Team Optiweb lost only one match against visiting Team Oluyole of Ibadan while Team Civil Defence kept a clean slate in their match against the VGC Lions in Lagos At the elite VGC Club in the Victoria Garden City, Lekki Lagos, the VGC Lions could not breach the defence of the Civil Defence team, which had two former national men’s singles champions and the current women’s champion in their fold and lost 0-7. Clifford Enosoregbe proved too strong for 2014 national junior champion, Martins Abamu, whom he beat 6-3, 6-2 in the first match; Stanley Madueke followed with a 6-2, 6-0 win over Aniekan Pius and national champion, Christie Agugbom finished off the day’s singles matches by defeating Lovette Donatus 6-4, 6-4. The doubles pair of Abdulmumuni Babalola and Michael Michael also proved too strong for VGC Lions’ Abamu brothers - George and Martins - who were beaten 6-3, 6-3. Speaking at the Port Harcourt Club of the clash between Team Kalotari and Team Muller, Rivers State Commissioner for Sports, Boma Iyaye, commended the NCC for the historic investment in Nigerian youths.

Michy Batshuayi (left) and team mates celebrating Chelsea’s 6-0 demolition of Qarabag in the UEFA Champions League group stage …last night

NPFL: Enugu Sacks Chukwu, Rangers Management To probe Flying Antelopes’ poor performance in the 2016/2017 season Christopher Isiguzo in Enugu Irked by the woeful performances of Rangers International Football Club of Enugu in the just concluded 2016/2017 NPFL season, the Enugu State government has sacked the club’s board and management led by former Super Eagles Coach, Christian Chukwu. Rangers won the 2015/2016 NPFL season after waiting for a major trophy for 32 years but finished in the 13th position with 53 points in the just ended season won by Plateau United. Speaking during a dinner/ post mortem meeting with the club management, players and supporters club last night, Governor Ifeanyi Ugwuanyi said the measure was to ensure the total revitalisation and repositioning of the club for future challenges.

The governor also terminated the appointments of all contract staff of the corporation adding that all staff earlier seconded to Rangers Management Corporation should return to their parent establishments. “The appointment of the club physician is hereby terminated with immediate effect and all corporation/club property in his custody should be returned forthwith,” he said. The governor disclosed that a panel of inquiry for a diagnostic investigation of the problems of Rangers FC will be set up to articulate a road map for the club. “The Rangers Management Corporation law will be amended to align it with the said road map and must specifically enthrone the following: ‘Robust governance structure with clear reporting lines in keeping with international best practices;

“A new Board and Management of Rangers Management Corporation will be constituted with clear and complementary roles for delivery of the strategic goals of the football club as would be enshrined in the proposed amendment in Rangers Management Corporation law; “The new Rangers Board and Management must hunt and recruit good players directly without any intervening football club. Rangers players must henceforth, be wholly owned by Rangers FC; “The new Board and Management will identify and engage a competent technical crew,” he said, adding that “the timeline for attainment of the above objectives will be six weeks”. Gov Ugwuanyi thanked the members of the previous board and management of the

corporation for the services rendered to the club and to the state in their respective capacities. “We also use this opportunity to thank our players in whom we are well pleased and reassure them that they are not part of the matter in issue and their salaries/ allowances will be paid as and when due. “We are grateful to the good people of Enugu State, the entire Igboland and indeed all the great fans and supporters of the Rangers Football Club for their patience and abiding faith as we watched the developments in the Club. “I promise you, most solemnly, that we will do all that is necessary to positively change the Rangers narrative in the next soccer season,” he said. The sacked General Manager of the club, Chukwu had earlier dissolved the club’s management.

AITEO Cup: Shooting Stars Seek Redemption in Uyo The Round of 16 matches of this year’s AITEO Cup competition for men and women will take place across the country this afternoon. In perhaps the biggest match of the day in the men’s competition, troubled Shooting Stars of Ibadan will be up against Akwa United at the Godswill Akpabio Stadium in Uyo. The Oluyole Warriors are waiting anxiously on the League Management Company to take a decision on the

Gombe United/Wikki Tourists Matchday 38 clash in Gombe last Saturday to know their fate in the Nigeria Professional Football League. Wikki Tourists led 1-0 at the Pantami Stadium before the match was abandoned due to crowd trouble after 24 minutes, and the LMC is going through the match commissioner’s report to take a decision on the encounter. Presently, both Wikki and Shooting Stars are locked at the same number of points and

goals difference, meaning that a possible replay decision and eventual favourable result for Gombe United will determine the Ibadan giant’s NPFL status. Akwa United finished in fourth position, missing out narrowly from a continental spot, and know that only the AITEO Cup competition can offer them a leeway into Africa. In other matches, Ekiti United are home to Katsina United, while relegated ABS FC will visit Unicem Rovers (conquerors of Enugu Rangers in the Round of

32) in Calabar, and Heartland FC of Owerri, close to NPFL return, will tackle FC IfeanyiUbah in Nnewi.

AITEO Cup (Round of 16) FC Abuja Vs Niger Tornadoes Akwa Starlets Vs Plateau Utd Ngwa FC Vs Sunshine Stars Osun Utd Vs El-Kanemi Babes Unicem Rovers Vs ABS FC Akwa Utd Vs Shooting Stars Ekiti Utd Vs KatsinaUtd Feeders FC IfeanyiUbah Vs Heartland FC

Wednesday September 13, 2017

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Buhari to Governors “There are Nigerians that haven’t been paid for six months; there are Nigerians that have not been paid their retirement benefits for years. “I’m appealing to the governors (that was why we voted money, we borrowed money), please make sure anybody under you, pay them because most of them depend on that salary to pay rent and school fees.” President Muhammadu Buhari appealing to governors that are yet to utilise funds released to them for the payment of pensions and salary arrears to do so without any further delay.

MAGNUSONYIBE Let’s Celebrate What Unites Us T GUEST COLUMNIST

he admonition of Sultan Sa’ad Abubakar Ill that God does not make mistakes, must have struck strong chords with members of both the Islamic and Christian Faiths in Nigeria. The assumption above is underscored by the fact that people of the two major religions believe there is one God. That is a fundamental and critical point of convergence and common ground. The main point of divergence in both religions is that Muslims believe that Muhammad is the Prophet of God while Christians believe in Jesus Christ as Son of God. As individuals in our homes or offices, people differ in their views and beliefs, yet they, more often than not, remain same family or colleagues. Apparently, President Muhammadu Buhari shares the belief because in his Sallah message he attributed Nigeria’s unity to God and underscored it with the African proverb, which states that “ A family tie is like a tree, it can bend but it can’t break”. So, in my considered opinion, bringing the omnipotence of the almighty God into the issue of a United Nigeria by the Sultan of Sokoto, is a master stroke that’s bound to resonate with the protagonists and antagonists in the current war of words over the vexed issue of whether to restructure or break up Nigeria. The eminent Sultan seem to have brought in a new perspective which could be referred to as a paradigm shift in the dialogue which has so far featured incendiary comments from both sides of the debate that have frayed nerves. And all these happened during a recent Nigeria Labour Congress, NLC forum in Abuja, where the leader of the Muslim Faith in Nigeria sued for a peaceful resolution of the schism through dialogue. He made the case that the formation of Nigeria is divine by stating, “Because we didn’t fall from the sky, we came from somewhere. We became Nigeria in 1914 through amalgamation. People are shouting that our coming together as a country in 1914 was mistake, but God doesn’t make mistakes. If God doesn’t want such a thing as Nigeria to happen, nobody could ever have made it happen.” He added: “If restructuring will make life better and convenient, then the think-tank, after their work, would call for stakeholders dialogue for the way forward.” In a nutshell, what the sultan is advocating is that as a nation, Nigerians should celebrate what binds us, not what divides us as we are currently doing by driving a wedge between the various through hate speeches. On the first day of October every year, we celebrate Independence Day. That’s because on that date in 1960, Nigeria secured independence from British colonial rule. But in 1914, the north and southern protectorates of the British Empire were amalgamated by fiat. And Sultan Abubakar lll has now the union of the north and South by the Britain as God’s design, which is quite refreshing. As earlier stated, Sultan’s perspective is quite illuminating and offers a common ground for dialogue. As we say in Christian marriages, “what God has joined together, let no man put

President Muhammadu Buhari

asunder”? And that’s what the highly respected monarch appearing to be echoing. That makes a God focused and sustained path to peace in Nigeria, now open for exploration. To that effect, it behoves of religious leaders of the two major faiths practiced in Nigeria, as well as traditional rulers from both the north and south, to seize the initiative from some unscrupulous politicians who selfishly exploit Nigerians by dwelling on what divides us more than what binds us as a nation. To build on Sultan Abubakar lll introduction of God into the initiative for peaceful and sustainable existence of Nigeria, l would like to recommend the cementing of the marriage between the north and south by proposing that Nigeria should start celebrating Amalgamation Day. Obviously, Independence Day celebration became a prominent annual event marked with pomp and pageantry in Nigeria because our former colonial masters, Britain, initiated it. Since more often than not, our leaders were led by the nose by the colonialists and are still caught up in neo-colonial mindset, instead of having their own initiative of making 1914 an epochal occasion that marked our unification, October 1, 1960 Independence Day, has become one of the most important dates celebrated in our country. Put succinctly, instead of Amalgamation Day being given a pride of place that it deserves and celebrated, as it should, Independence Day from Britain has been taking centre stage in Nigeria. As a pathway to national unity, which most Nigerians are yearning for, the presidency must without further delay send to the National Assembly, NASS, and a bill to proclaim national Amalgamation Day to be celebrated by all Nigerians. That is one way we can focus on the chords that bind us which are aplenty, as opposed to dwelling on factors that divide us. To confirm the socioeconomic linkages between Nigerians across the northern and southern parts, apocryphal stories have been told of Okonkwo and Sons shop-a trading point established by an lgbo man in Kano state-several decades ago. The shop grew to become a thriving commercial post that later transformed into a town now known as Kwakwanso. It is from that town that Musa Kwakwanso, a former two times governor of Kano state and now a serving senator hails from and origin of his name. As a reporter in Nigeria

Television Authority, NTA Newline in the mid 1980s, l followed a cattle trail from the northern to eastern parts of Nigeria and met a Hausa man, named Musa in Enugu who was born there when his parents were located there several decades ago, in the cause of trading their cattle. He spoke flawless lgbo and without Hausa accent or inflections to the extent that, l could not have known that he was Hausa, if he had not been identified as such. He too had started bearing offspring that had become deeply entrenched in glob culture and way of life. If both Okonkwo in Kano and Musa did not find their far-flung locations from their native homes accommodating, they would not have flourished. And if the instances of integration between the Okonkwo in Kano and Musa in Enugu could happen without facilitation by government through any significantly coordinated effort, you can imagine how culturally blended Nigerians could have been, had strategic efforts been consistently made by the authorities to cement the relationship which Sultan Abubakar has declared as being divine. And l wholeheartedly agree with the highly revered monarch, because l can relate to the fact that nothing happens without God’s knowledge. To be fair, putting Nigerian youths through National Youth Service Corp (NYSC) to blend culturally by being posted to areas different from their natural habitats, was aimed at getting them to understand through integration and appreciation of the lifestyles of fellow Nigerians in distant locations from home. But the policy, which was introduced in t 1973, now appears to have been derailed from what the initiators had in mind because the principles have been compromised as youths now dodge it by bribing government officials who supervise the scheme. Also, it did not help that NYSC members were engaged in the conduct of political office election processes as it endangers the lives of the youths who have suffered lynching and other untold murderous incidents during and after elections in some northern states. As such, parents are justifiably, no longer releasing their children to serve in environments where their lives are endangered. It may also be recalled that the concept of Unity Schools where students from across the geo-political zones were admitted into schools far from home, was also introduced to encourage cultural integration amongst Nigerian youths. But all those noble objectives and initiatives of the golden days of Nigeria have now become memories of the distant past. So it boggles the mind that authorities are acting surprised that our youths are spending their idle time cursing out one another on social media platforms. Do we need a rocket scientist to teach us that the way we make our bed is the way we will lay on it? What the foregoing kindergarten rhyme indicates is that we are reaping what we sowed by not preparing our youths to understand and respect each other’s culture and beliefs. That’s partly accountable for the resort to trading hate speeches in social media platforms coalescing into lgbo youths Biafran state agitation and Arewa quit notice to the lgbo. At the height of their governorship of Delta and Bauchi states, some ten years ago, Governors James Ibori and Ahmed Muazu, led traditional leaders from their states on

cultural exchange visits. The initiative which was a positive step towards building of friendship between people of both states was discontinued after both Governors left the scene at the completion of their tenures in 2007. The Governor’s forums of both the APC and PDP, the two leading political parties, and the various regional governors forums, should consider reigniting that positive initiative by the pair of lbori and Mu’azu. If such forum for enlightenment was in existence, perhaps, the youths from across the north and south would understand each other better and not literarily be at each other’s throat as they currently are. It is disheartening to know that, it is the fallout of the negligence of youths that has so rankled the authorities, and as an antidote to the unedifying activities on the Internet, government is now toying with the idea of stymying of freedom of speech in the social media via monitoring by the military. Clearly, curtailing the freedom of youths on social media platforms is a threat to their fundamental human rights. Democracy is fragile, so we can’t afford to handle it harshly with military force. As Thurgood Marshall, one time Supreme Court Justice of the United States of America, USA once posited “We must dissent, be cause America can do better, because America has no choice but to do better” It is high time authorities eschewed militaristic governance style reflected in their crude and poorly formulated draconian policies. Our leaders must start engaging in critical thinking with a view to coming up with democratically acceptable and sustainable solutions for progress in the society and prosperity for all Nigerians. Why don’t we dig deep to see how our leaders past steered the ship of state from falling off the precipice of prejudice and inequality? For instance, the NYSC and Unity schools were formulated by Nigerian technocrats and l believe such people are not in short supply in today’s public service system, so they should be engaged. President Buhari and the ruling party APC should make it part of the change they promised Nigerians. Not many people remember that several years ago, Japan colonised China. That’s simply because it has remained a sore point which the Chinese are not proud of, so the experience is bitter, and as such, it is not celebrated. On the other hand, the example of Germany, which recently reunified after tearing down the Berlin Wall that hitherto separated the West from East Germany, is worthy of emulation by Nigeria. In conclusion, Aso Rock villa in collaboration with the NASS must dedicate time and resources towards nurturing the peaceful and egalitarian Nigeria that most of us are clamouring for. Merely romanticizing it by our leaders won’t make it happen. Only purposefully designed and implemented policy actions that reflect equity and justice will make peaceful co-existence happen because equity, justice and peace go paripasu. So our leaders should stop equivocating and do what they were elected to do-put on their thinking caps in order to come up with ‘out of the box’ solutions and stop being pedantic. r .BHOVT 0OZJCF B EFWFMPQNFOU TUSBUFHJTU 64" JT B GPSNFS NFNCFS PG UIF %FMUB 4UBUF $BCJOFU

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