FG Targets Economic Growth Rate of 7% by 2020 Jonathan Eze and Nume Ekeghe The federal government has said it intends to attain a growth rate of 7 per cent by 2020 with the implementation of the Economic Recovery and Growth Plan (ERGP) launched five months ago. It added that the country
must spend about 3-5 per cent of its Gross Domestic Product (GDP) to address its infrastructure challenges, noting that the 0.5 per cent budgetary allocation to infrastructure was largely insufficient to meet the nation’s
infrastructure needs. Hence, the government said it would seek for improved partnership with the private sector to address the infrastructure deficit. The remarks were made by the Minister of Budget and
National Planning, Senator Udoma Udo Udoma in Lagos yesterday at a briefing to herald the 23rd Nigerian Economic Summit scheduled to hold on October 10-12 at the Transcorp Hilton, Abuja. He said the theme of
this year’s summit tagged, “Opportunities, Productivity and Employment: Actualising the Economic Recovery and Growth Plan (ERGP),” would be linked to the implementation of the plan, pointing out that this was
EFCC Recovers N409bn, $70m in Eight Months… Page 46
critical to achieving the ambitious goals of the present administration in diversifying the economy and attaining a growth rate of 7 per cent by 2020. However, Udoma called for collaborative efforts to address Nigeria’s infrastructure Continued on page 13
Wednesday 20 September, 2017 Vol 22. No 8189. Price: N250
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Buhari at UNGA Canvasses International Material Support for Anti-corruption War Omololu Ogunmade in Abuja President Muhammadu Buhari yesterday called for international co-operation and material support for his administration’s prosecution of the war against corruption and asset recovery. Buhari who made this call while delivering a speech
during the General Debate of the 72nd Session of United Nations General Assembly (UNGA) in New York, said state institutions in the country were being strengthened to promote accountability and curtail corruption. Buhari, whose statement Continued on page 13
Amosun Faults Data by Finance Ministry, NBS FIRS on VAT Contributions
Says Ogun is second highest contributor to VAT Nume Ekeghe Ogun State Governor, Senator Ibikunle Amosun has described the data churned out by the Federal Ministry of Finance, National Bureau of Statistics (NBS) and the Federal Inland Revenue Service (FIRS) as regards to the contributions of the state to Value Added Tax (VAT) as misrepresentative. He said the claim that Kano, Oyo and Osun States, among
other states, contributed more than Ogun State could not be true, as Ogun has the highest number of industries in the country, noting that the only state that surpasses his state is Lagos. The governor added that with the pace of development and new investors setting up industries in the state, Ogun might match Lagos Continued on page 13
Customs Intercepts Another Cache of Arms at Tin-Can Port... Page 46
BACK ON THE GLOBAL STAGE... President Muhammadu Buhari addressing world leaders at the 72nd United Nations General Assembly in New York… yesterday
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FG to Block IPOB’s Source of Funding, NAF Deploys Aircraft to Support Troops Ohanaeze asks courts not to grant ‘frivolous’ orders against separatists Ikpeazu: I can’t box myself into small geographic entity IPOB denies burning mosque, says Northerners are safe in S’East Omololu Ogunmade, Oyebuchi Ezigbo, Paul Obi in Abuja, Ikechukwu Isiguzo in Enugu, David-Chyddy Eleke in Awka and Amby Uneze in Owerri with agency report The federal government has said it is aware of the sources of funding of the Indigenous People of Biafra (IPOB) and is taking steps to block them. The Minister of Information and Culture, Alhaji Lai Mohammed disclosed this yesterday when he appeared on a live television programme on the Nigeria Television Authority (NTA). He made the allegation just as the Nigerian Air Force announced that it has deployed some of its air assets, including the Alpha Jet aircraft, to its 115 Special Operations Group in Port Harcourt, Rivers State to support the ongoing Nigerian Army exercise, Operation Python Dance II, in the South-east and some states in the South-south. Also, the Igbo socio-cultural group Ohanaeze Ndigbo yesterday warned courts in the country not to allow themselves to be used to undermine democracy by granting frivolous orders against IPOB. Ohanaeze’s warning came against the backdrop of the move by the federal government to proscribe the separatists group, which is pushing for the break up of Nigeria and realisation of the Republic of Biafra. THISDAY had exclusively reported yesterday that President Muhammadu Buhari on Sunday signed the presidential proclamation proscribing IPOB, effectively initiating the formal process of banning the group in accordance with the provisions of the Terrorism (Prevention) Act, 2011. It also paved the way for the Attorney General of the Federation (AGF), Mr. Abubakar Malami (SAN) to head to court to give legal backing to the presidential proclamation. Speaking on the television programmed, Mohammed said: “Terrorists do not publish where their funding is coming from. But we know the countries that are supporting IPOB. “We know the sources of their funding though I am not at liberty to disclose them here. “We are taking steps to block
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them and we are also taking a lot of diplomatic actions in respect of the countries that are supporting them.� Mohammed observed that most of the countries supporting IPOB were doing so based on ignorance, adding that they had been hoodwinked to believing that “Nigeria is a country where Muslims persecute Christians� and a country where there is genocide. “As we speak today, IPOB has written letters to many governments outside Nigeria and international parliaments, sending fake and cloned videos claiming there is genocide in Nigeria,� he stated. The minister charged the international community not to use double standards in dealing with IPOB and to be more diligent before making any pronouncements. He said what the countries would never accept in their territories, should not be condoned or encouraged in Nigeria. The minister justified the action of the military for declaring IPOB a terrorist group as well as its proscription by the South-east governors. “There are a lot of arguments regarding the constitutionality of the action of the military and the South-east governors. “People must realise that we are dealing with issues of national security and I do not think that the military and the governors should fold their arms while the country is set ablaze. “I have heard a lot of comments as to whether the military has the right to declare IPOB a terrorist group “What the military has done is to catalogue all the activities of IPOB, which are not different from that of terrorist groups,� he said. Mohammed said IPOB set up a para-military organisation, a parallel military group – the Biafra Secret Service and Biafra National Guard. He alleged that the group was attacking army installations and soldiers at check points and extorting money from innocent people. “IPOB activities are not jokes. If there had not been the proactive actions on the part of the military and the South-east governors, there would have been retaliations from other regions and the entire country will be set on fire. “We cannot be talking of semantics or procedure when the nation is moving towards a crisis and the precipice. “It is only in a Banana Republic that you can see non-state actors doing what IPOB is doing. “The actions by the military and the governors should be seen from the perspective of ensuring internal security and averting chaos,� he said. The minister reiterated his position that IPOB was being sponsored by the association of disgruntled politicians and treasury looters to discredit the Muhammad Buhari administration. He admonished the media and opinion leaders to be circumspect in their publications and discussions on IPOB in order not to aggravate the crisis. “The kind of comments and
headlines in the media as well as comments from certain quarters are the type that give oxygen and confidence to the IPOB. “They must exercise restraint because the only reason we practice our profession or become a commentator is simply because there is peace in the country,� he said.
NAF Deploys Air Assets Coming on the heels of the information minister’s allegations, the Nigerian Air Force (NAF) yesterday stated that it has deployed some of its air assets, including the Alpha Jet aircraft, to its 115 Special Operations Group in Port Harcourt, to support the ongoing Nigerian Army exercise. A statement issued by the spokesman of NAF, Air Commodore Olatokunbo Adesanya said the deployment was done in line with its commitment to entrench national peace and security. “The essence of the deployment is to provide the necessary air cover to the ground troops to enhance overall operational cohesion and efficiency,� he added. He recalled that Operation Python Dance II began officially on September 15 and was planned to cover the entire South-east, adding that the wide expanse of the exercise area and the request by the army for close air support had made the involvement of NAF inevitable. “Exercise Operation Python Dance II is aimed at combatting the security challenges in the Southeastern part of the country. The deployment of the air assets in support of the Nigerian Army is thus in fulfillment of one of the constitutional mandates of the NAF,� he said.
Ohanaeze Kicks But as the air force deployed its air assets in the South-east, Ohanaeze cautioned courts in the country not to allow themselves be used to undermine democracy by granting frivolous orders against IPOB. Ohanaeze said in a statement issued Monday night and signed by its president general Chief Nnia Nwodo that it had credible intelligence that the Minister of Justice and Attorney-General of the Federation Alhaji Abubakar Malami (SAN) has secretly approached courts to obtain an order to designate IPOB as a terrorist group. The Ohanaeze boss said the move was not only illegal but aimed at furthering the harassment and intimidation of Igbo youths who have been pursuing their constitutionally guaranteed fundamental human rights. He said Ohanaeze had dispatched letters to courts to be weary of such spurious moves, as it was capable of aggravating already frayed nerves and disrupting the genuine moves by Ohanaeze and critical Igbo leaders are making to bring peace and concord in the land.
Ikpeazu Meets Osinbajo However, in a bid to resolve the crisis in the South-east and particularly his state which was at
the epicentre of clashes between IPOB members and the military last week, Abia State governor, Dr. Okezie Ikpeazu, yesterday met with Vice-President Yemi Osinbajo at the Presidential Villa, Abuja on the security situation in the South-east Answering questions from State House correspondents after holding talks with Osinbajo in a closed-door meeting, Ikpeazu said being restricted to a small region in the name of secession was unwise, adding that having been a leader of a federating unit of the federation, it was imperative for him to brief the president or his deputy on the state of affairs in his state. “Well, naturally, I’m heading a subnational government. When this kind of thing happens which we had in terms of dimension of national proportion, it is right that you will come and brief the C-in-C or his vice and that is exactly what I have come to do,� he stated. He dismissed allegations that the emergence of IPOB and its agitation were caused by a failure of leadership in the South-east, saying it was not his responsibility to investigate the claim. However, he said even though all might not be well yet with the region, concerted efforts were being made to make it a better place. Dissociating himself from the IPOB agitation, Ikpeazu said he would not be content with limiting himself to the small geographic entity of the South-east and deprive himself of the opportunity of inclusion in the Nigerian entity. “Allegations are supposed to be investigated by investigative officers and I’m not trying to investigate such things. So it is just the masses especially the press. “You know, we are perception builders. We should try to say things that are good about our country not things that are bad. I think there are enough reasons to see that under our circumstance, we may not be Eldorado yet, but there are concerted efforts and attempts to make our place a better place. “I do not see how as an Igbo man, I can box myself into a smaller geographic entity without recourse to the most widely travelled people in Nigeria. There are Igbos in Sambisa. What are you expecting of them if I narrow their geography of coverage. “But agitation, marginalisation, infrastructure deficiencies, these are issues which are germane and they can be discussed. They can be spoken about. They can be addressed. “But I do not know how in the 21st century, carrying arms in my kitchen will grow the prosperity of my people,� he said. While putting the population of the Igbo outside the South-east at 11.6 million, Ikpeazu said it was important to establish a good relationship with Northerners to avoid putting the lives of such a huge population in danger. “First and foremost, I think our relationship with our brothers from Northern Nigeria, the governors... they have assured that every part of Nigeria is safe for every Nigerian including Igbos to continue in their business and
enterprise. “I want to announce that the population of Igbos outside Igbo enclave is about 11.6 million. You don’t play with the lives of 11.6 million. “So we all have to be careful – the press, the leadership at the state level, the leadership at the federal government level, everybody. I think we should be guarded by the rule of law and grow confidence in the Nigerian citizen that under our laws, he is protected,� he added. Speaking on South-east governors’ meeting with their Northern counterparts, Ikpeazu said he assured the governors of the safety of Northerners in the state in accordance with the oath he took when he assumed office. He also said trade and commerce were the mainstay of the economy of the state and it was only reasonable to avoid anything that could make Abia State insecure for its economy to thrive. “I assured them of safety of lives and property of everybody that resides in Abia, whether you are an Abian or not an Abian. I swore with the Bible to protect lives and property and because I take such things seriously, I will continue to protect the lives and property of my brothers and sisters irrespective of where they come from. “You know that the main stay of our economy in Abia State is trade and I do not think it will augur well for our economy if we make our kitchen the theatre of Biafra. “A native wisdom in my place says you shouldn’t allow a fight to ensue from your mother’s kitchen. It is my responsibility also to grow prosperity from my state,� he said, He said he had no plan to mete any punishment to the father of the IPOB leader, Nnamdi Kanu, who is a traditional ruler in his state because of the activities of his son, saying both of them are not the same. “I clearly separate Kanu from his father. The processes of handling traditional institutions are enshrined in the laws of our land and traditional rulers who are members of our constituency have leadership roles. “They will do the needful at the appropriate time. But for me, I think there is a clear distinction between Nnamdi Kanu and his father,� he said.
IPOB Denies Burning Mosque In a related development, IPOB has denied allegations that it was responsible for the burning of a mosque in Enugu State on Monday. Speaking through its spokesman, Mr. Emma Powerful yesterday, the group disassociated its members from the alleged arson and any other news of attack or vandalism on Muslims and their places of worship. It assured the public of its non-violent stand and called on Muslims and Northerners living in parts of Igboland not to entertain any fear of attacks, but to go about their worship peacefully. Powerful said: “IPOB is not unaware of the desperation of
the Nigerian Army of occupation to cause mayhem and blame it on IPOB as a way of instigating counter-violence against Southerners in the North. “The aim of this army of occupation led by exclusively Hausa Fulani officers is to distract our focus and firm resolve to force a peaceful referendum within the law. “No amount of violence visited on our family members will dissuade us from this historic and legitimate course.� The group said Biafrans in particular and Nigerians in general should therefore blame any of such attacks on what it described as the “criminal gangs� assembled by South-east governors and federal government “sponsored gangs� who are baying for blood and whose aim is to cause misunderstanding between law abiding Biafrans and other ethnic nationalities in Nigeria. It said: “We wish to further state unequivocally that Muslims and other non-Biafrans living in the South-East and South South have nothing to fear from IPOB, as our members are committed to a non-violent, unarmed struggle for self determination, which is guaranteed in charters of the United Nations, international laws and other extant laws on fundamental human rights. “IPOB does not need to remind Nigerians that it is the culture in Biafraland to protect our visitors and any of these alleged heinous acts are viewed by the great family of IPOB as abomination which our leadership and members condemn in their entirety. “IPOB members should be vigilant and stay away from the provocative governmentsponsored death squads whose main objective is to draw we Biafrans to another unplanned civil war, but God forbid. “We shall overcome all our enemies and emerge triumphant in the end,� IPOB stated. Giving fillip to its statement, the Enugu Police Command also dismissed as false, misleading and mischievous reports on the social media that a mosque was burnt down in Ogrute, Igboeze North Local Council of Enugu State by IPOB. A statement by the police spokesman in Enugu, Ebere Amaraizu also cautioned residents against peddling falsehood which could undermine the existing peace and tranquility in the state. He said it had become imperative to issue the statement, as some Muslim faithful in Igbo-Eze North had alleged that their mosque, located in Ogrute community, was set ablaze by suspected members of IPOB. According to him, preliminary investigations showed that an electrical spark was responsible for the inferno at the mosque. “The issue is that there was an incident and that incident involved an inferno. When we first heard about it, we moved in with a view to finding out what actually happened. “The incident happened in the wee hours on Saturday (Sept. 16) at about 2 a.m. When we got there, following our preliminary investigations, we discovered that it could have been as a result of Continued on page 13
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NEWS BUHARI AT UNGA CANVASSES INTERNATIONAL MATERIAL SUPPORT FOR ANTI-CORRUPTION WAR was emailed to journalists in Nigeria, told the gathering of world leaders that the country’s desired goals could only be achieved when the international community cooperates with it and provides critical assistance and material support. According to him, Nigeria would also co-operate with the international community in the fight against transnational crimes including cybercrime, human trafficking and forced labour. “Through our individual national efforts, state institutions are being strengthened to promote accountability, and to combat corruption and asset recovery. “These can only be achieved through the international community cooperating and providing critical assistance and material support. We shall also cooperate in addressing the growing transnational crimes such as forced labour, modern day slavery, human trafficking and cybercrime,� Buhari said. Arguing that Africa’s faith in democracy remained unwavering, Buhari recalled how the collective efforts and resilience of the
Economic Community of West African States (ECOWAS) forced out the former president of The Gambia, Yahyah Jammeh, as was the case earlier in CĂ´te d’Ivoire. “Our faith in democracy remains firm and unshaken. Our regional organisation ECOWAS came together to uphold democratic principles in The Gambia – as we had done previously in CĂ´te d’Ivoire,â€? he stated. He said the frontiers of democracy and good governance were being enthroned in Africa including the creation of the atmosphere for the conduct of free and fair elections and promotion of the rule of law. “In the last year, the international community came together to focus on the need for gender equality, youth empowerment, social inclusion, and the promotion of education, creativity and innovation. The frontiers of good governance, democracy including holding free and fair elections, and enthronement of the rule of law are expanding everywhere, especially in Africa,â€? he added. He also canvassed the support of the international community
in stopping members of ISIS from fleeing into the Sahel and Lake Chad Basin to take refuge, emphasising that co-operation was necessary because the region does not only lack sufficient resources to fight ISIS but its response capacity was also weak. “These co-operative efforts should be sustained. We must collectively devise strategies and mobilise the required responses to stop fleeing ISIS fighters from mutating and infiltrating into the Sahel and the Lake Chad Basin, where there are insufficient resources and response capacity is weak,� he noted. He commended the UN’s role in settling individuals who were displaced by the conflicts in Syria, Iraq, Afghanistan as well as the support of the international community in containing the threat posed to West Africa by Boko Haram and Al Qaeda. He also praised the Security Council of the UN for visiting the Lake Chad Basin to assess the security situation and for pledging assistance to rebuild the lives of the victims, assuring that Nigeria would continue to provide “relief and humanitarian assistance to millions in internally displaced
camps and those afflicted by terrorism, drought, floods and other natural disasters�. While tasking the UN to make the maintenance of peace and security in the world its primary responsibility, he recalled that the UN resolution on the Middle East had not been implemented since 1967. He also drew the attention of the world body to the humanitarian crisis in Yemen and Myanmar, as he likened the Myammar crisis to the 1994 genocide in Rwanda and tasked the body not to look the other way over the state-sponsored Rohingya crisis, which has displaced many residents. Buhari also called for prompt international intervention in the nuclear threat to the world from North Korea, suggesting the need to constitute a delegation made up of UN members from various regions to engage the North Korean leader. Comparing the threat by North Korea’s nuclear weapons to the world to the Cuban missile of 1962 and Hiroshima and Nagasaki disasters, Buhari warned that only a stitch in time saves nine as he pledged Nigeria's commitment
to global peace. “In all these crises, the primary victims are the people, the most vulnerable being women and children. That is why the theme of this session: Focusing on People: Striving for Peace and Decent Life for All on a Sustainable Planet, is most apposite. “While the international community grapples to resolve these conflicts, we must be mindful and focus on the widening inequalities within societies, and the gap between the rich and the poor nations. “These inequalities and gaps are part of the underlining root causes of competition for resources, frustration and anger leading to spiralling instability. “The most pressing threat to international peace and security today is the accelerated nuclear weapons development programme by North Korea. Since the Cuban missile crisis of 1962, we have never come so close to the threat of nuclear war as we have now. “All necessary pressure and diplomatic efforts must be brought to bear on North Korea to accept a peaceful resolution of the crisis. As Hiroshima and Nagasaki
painfully remind us, if we fail, the catastrophic and devastating human losses and environmental degradation cannot be imagined. “Mr. President, Nigeria proposes a strong UN delegation to urgently engage the North Korean leader. The delegation, led by the Security Council, should include members from all the regions. “The crisis in the Korean peninsula underscores the urgency for all member states, guided by the spirit of enthroning a safer and more peaceful world, to ratify without delay the treaty prohibiting nuclear weapons, which will be open for signature here tomorrow. “Mr. President, I end my remarks by reiterating Nigeria’s abiding commitment to the foundational principles and goals of the United Nations. Since our admission as a member state in 1960, we have always participated in all efforts to bring about global peace, security and development. “Nigeria will continue to support the UN in all its efforts, including the attainment of the 2030 Agenda for Sustainable Development,� he submitted.
FG TO BLOCK IPOB’S SOURCE OF FUNDING, NAF DEPLOYS AIRCRAFT TO SUPPORT TROOPS a power surge. “However, the following morning, we started hearing all sorts of things that were blatant lies. We need to put things in proper perspective to avoid mixing up issues. “When there is burning, we will say there is burning, when there is an inferno, we will say there is an inferno. So we want to draw a line between an inferno and burning a particular place. An inferno is not intentional, while burning is intentional,� the statement noted. While suing for calm, Amaraizu said there had never been any problem between residents of the state and the Muslim Umar, adding that they have lived in peace for ages. He cautioned those propagating rumours to see Nigeria as one indivisible entity by crosschecking their facts. “We need to have a rethink. We should desist from getting involved in anything that can degenerate and cause a situation that we cannot control,� he advised.
PDP to APC: Stop Blaming Opposition Meanwhile, the Peoples Democratic Party (PDP) has asked the ruling All Progressives Congress (APC) to stop playing the blame game over the administration’s poor handling of the agitation by IPOB. The party said it was constrained once again to respond to the “tirade� by the information minister who as usual, made an attempt to blame the superficial opposition for the continuous gaffes of the APC-led federal government.
A statement yesterday by PDP spokesman, Dayo Adeyeye said: “We had advised not a few times that the APC should look inwards and seek solutions to its selfinduced challenges in government caused by its unpreparedness for governance; but since the party seems set for self-destruction, we shall not relent in helping to expose their ineptitude to the Nigerian populace.� He added that it was disheartening that rather than accept blame for its ineptitude, the APC government has continued to blame “enemies� real or imaginary for their woes. “We noticed that the minister who is much known for his unbridled capacity for constant polarisation of the polity rather than ardency in the proper dissemination of government policies and information to the populace, tried once again on Sunday, to shift blame for the poor handling of the agitation of IPOB by the current government to an opposition that exits only in his imagination,� he said, According to Adeyeye, APC policies have been the catalyst for the IPOB problem, and as such the ruling party should do some soul searching and correct the anomaly. “How on earth will a serious minded government blame opposition parties which they have conveniently labelled ‘looters’ for the activities of IPOB? “But we take solace in the fact that the APC might actually know the looters, as the party has clearly demonstrated its penchant for giving cover to people considered as corrupt. “The recent release of 48 houses confiscated as the proceeds of crime back to a member of the
APC who was standing trial for allegations of corruption readily comes to mind. “Much as we will continue to harp on the one-sided corruption fight of this administration, we wish to urge the APC to look inwards in locating the looters using their ill-gotten wealth to sponsor separatist agitation against the government of the day,� the PDP spokesman stressed. He also said that there has been a crisis within the ranks of APC which may have led to the struggle within the government, advising APC to learn to mould itself into a real national party in order to provide good leadership for the people. “It is instructive to note that we are aware of the internal crisis rocking the amalgam of interests that formed the APC and the struggle for power within the government, as the noise of discontent keeps rising on a daily basis from the party. “Based on the above, it is no news that APC has been a problem unto itself which has affected the lives of the citizenry who daily gnash their teeth in regret for voting the APC into power in 2015. “We wish to put on record that the agitation for actualisation of the State of Biafra was a total silent voice while the PDP was in power because of the government of inclusiveness we provided for Nigerians who were made to experience what a genuine national government meant. “Finally, as a party, we had condemned and we are still condemning separatist movements tailored towards balkanising the nation. “We therefore make bold
to further state that the APC policies have been the catalyst for the IPOB problem, and as such, the party should do some soul searching and correct the anomaly. “No external enemy so to say, is working against this government. The government is its own worst enemy,� the PDP said.
Northern Governors Visit Okorocha Even as the PDP engaged the administration in a war of words, Imo State governor and chairman of the All Progressives Congress (APC) Governors’ Forum Chief Rochas Okorocha yesterday called on politicians, religious leaders and major stakeholders in the country to see the current socioeconomic and political challenges ravaging the nation as a period of trial and tribulation that would ultimately fizzle out and make the nation stronger. Okorocha made the remarks in Owerri, the Imo State capital, when he received a delegation of the Nigerian Governors’ Forum which had embarked on a peace mission to the South-east and South-south on Monday. The governors in the delegation were Kashim Shettima (Borno) who doubles as the chairman of the Northern Governors’ Forum, Simon Lalong (Plateau), Aminu Tabuwal (Sokoto), Atiku Abubakar Bagudu (Kebbi), and Aminu Bello Masari (Katsina) Speaking to the delegation and the Hausa community in Imo State which was in attendance, Okorocha said: “We should see one another as people who are of the same blood, created by one God who are therefore inseparable and what should
FG TARGETS ECONOMIC GROWTH RATE OF 7% BY 2020 gap, stating that the budget allocation to infrastructure projects in the country was hopelessly miniscule relative to what was required to plug the gap. “We need to spend 3-5 per cent of our GDP on infrastructure development, federal government spending at 0.5 per cent cannot solve our problems. “We are looking for private sector partnership to structure projects to attract private sector funding,� he added. According to him, the summit would elicit and adopt a solutions-based approach in addressing issues that will expand opportunities, tackle unemployment and improve productivity.
“This is in line with the aspirations of the ERGP which aims at restoring and sustaining growth, investing in our people and building a globally competitive economy. “This is expected to enhance the effective implementation of the ERGP and also translate to improvement in living standards of the citizens,� the minister said. According to him, the summit would be structured into five key thematic pillars to identify proactive steps required for building local content; focusing on linkages between economic opportunities, productivity, skills and competencies and the right policies to deliver in core areas; and create and explore the strategic investment options,
frameworks, models and business cases for unlocking types of capital flows that create opportunities and jobs for Nigerians. He also stated that the summit would examine the impact of specific legislation identified by the National Assembly Business Environment Roundtable (NASSBER) to create economic opportunities and jobs and target actions and collaborative efforts required to deepen economic inclusion across the country to unlock opportunities at the sub-national level, de-escalate threats to national security, and make the business case for a united Nigeria. He noted that the summit would further seek to articulate an action plan with specific timelines
for all stakeholders, especially the private sector and government and provide a platform to sharpen the conversation on how to deepen opportunities on employment as specified in the ERGP. “The expected outcomes of the summit will outline the national jobs deficit and risk profile, provide a national response framework that adequately matches it; define a reviewed national framework for exploring the economic opportunities across priority industries, sub-sectors and market value chains; and set out a reviewed framework for entrepreneurship and innovation that seeks to leverage entrepreneurial development as a key driver of productivity,� he said.
be of paramount concern to us is a united indivisible entity called Nigeria because many African nations hold us in high esteem because of what and who we are.� He added: “Peace is expensive but we must pursue it at all cost and we should strive to be remembered as nation builders and not as nation destroyers.� The Imo governor who dwelt extensively on the need for stronger unity, oneness and cohesion among Nigerians irrespective of their religious and political backgrounds, humorously canvassed for a novelty arrangement in the governance of the 36 states of the federation whereby governors from states other than theirs could be drafted to other states to govern them, stressing that this would enable them to dramatise their relationship before the rest of Nigerians. Responding, Shettima regretted that some of the nation’s elite either wittingly or unwittingly fan the embers of discord, hatred and segregation among the citizenry.
The Borno governor who decried the slow pace of infrastructure development in the South-east including poor road network, attributed the sad development to greed and avarice by those whose duty it is to remedy the situation. While commending Okorocha for tenaciously standing on the path of national unity and integration, he said: “We should begin to see ourselves as trail blazers and agents of change for a better, stronger and prosperous Nigeria.� Also speaking, Lalong dismissed the Arewa youths who three months ago had issued a quit notice to Igbos resident in the North but later rescinded it, as rabble-rousers who acted on their own, saying: “Ours is to maintain the peace and to retain the indivisible entity called Nigeria in spite of our religious and tribal differences. “Nigeria is a creation of God and God who brought us together as one nation never made a mistake.�
AMOSUN FAULTS DATA BY FINANCE MINISTRY, NBS FIRS ON VAT CONTRIBUTIONS in the foreseeable future and possibly surpass it in terms of its contributions to the Federation Account. The governor said it was unfortunate that his state was ranked in the 26th position by the NBS among other states in the country in terms of its contribution to VAT and that this misinformation provided by the finance ministry has formed the basis for the sharing of the tax derivable from the consumption of goods and services (VAT) among the 36 states of the federation. The governor, who was speaking during a facility tour of an indigenous armoured vehicles manufacturing company situated in Ode-Remo area of the state, said the anomaly needed to be corrected because the industries in Ogun State put pressure on the infrastructure in the state, yet it gets a fraction of its actual contribution to VAT at the Federal Account Allocation Committee every month. Amosun also faulted the presentation by the federal government agencies that of the 914 high net worth individuals and entities paying tax to the federal purse, only two are from Ogun State. “Not less than 45 high net worth individuals in the state pay at least N10 million as tax to the federal purse, three pay
at least N20 million and above, while one pays N40 million and above� he said, and urged the agencies to cross check their data. The governor added that such inaccurate data was unacceptable, especially if multilateral agencies like the World Bank could provide more accurate statistics about the state. The Ogun governor went on to challenge the data-generating agencies to be transparent on the company income tax (CIT) paid by companies in the country, adding that since his state hosts several industries, it should also have a high ranking in terms of its contribution to CIT paid to the FIRS annually. Amosun also frowned at companies that manufacture products in the state, but inscribed “Made in Lagos� on them just because they have their head offices or are registered in Lagos, adding said such practices must stop henceforth. He further revealed that the state would immediately place orders for three armoured personnel carriers (APCs) and three gunboats from the armoured vehicle manufacturing company to step up security in the state. According to him, the APCs will be distributed across the three senatorial districts in the state, while the gunboats will be used in the riverine and the waterways of the state.
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
‘SHOOT THEM, KILL THEM’(1)
Sonnie Ekwowusi deplores the excessive use of force in the Southeast
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President Buhari is back to Nigeria. All these useless civilians going about saying that they are demonstrating must be dealt with. What do they mean by saying that they are allowed to protest? We will shoot them, kill them. If those rebels and terrorists are not careful we would waste all of them. The dancing python go swallow them. Na me dey tell you. Look, let me tell you, all these small boys who were not even born during the civil war now agitating, even threatening to declare another Biafra war including training of soldiers, we go waste them if they are not careful. In this Nigeria? No way. We will tell them that na somebody get this country. Such abomination must not be allowed to happen. You. Let me tell you, you yourself never see the dancing python in action. When you see dancing python you go understand wetin I dey talk. The dancing python go enter their bedroom, smoke all of them out, from their father, their mother down to the last person in their village. Wa la hi those boys will be wasted. Na me dey tell you. When Buhari go for treatment Osinbajo was soft, he was allowing those boys to protest anyhow all in the name of peace. Which kind peace be that? That is not the kind of peace we want in Nigeria. Peace with those Biafra rebels? No way! We want true peace, not peace with ugly human beings who once waged war against their fatherland and who have since then remained unrepentant about their evil deed. When Buhari went for treatment Osinbajo was not doing his job. He even was going around saying that he was dialoguing with them. He even visited the South-Eastern parts begging them to co-operate. Now that Buhari is back you go see action. All those nonsense must stop. All those nyama nyama people who are doing demonstration you go see how dancing python go bite them or even kill them if they no take time. Stupid people. No more nonsense. Wa lai. Kai. Either you obey or you pay for the consequences with your blood� “Have you finished? Okay, you are still talking? Let’s allow you to round off. Please why don’t you allow me to say something? I have been listening to you with patience. Now, I will tell you something that you may find interesting. But be calm. Do not seek to kill everybody. The widespread outrage is about the murder of innocent unarmed civilians by the Nigerian military. We are shedding tears for the militarisation of the South-east in a democracy that has made ample provisions for recourse to due process in bringing wrongdoers to justice. We are shedding tears for the shedding of innocent blood. We are shedding tears for the murder of the citizens of our country- men, women, children and babies- who knew nothing about IPOB or Biafra agitation but who nevertheless, have been killed by dancing python two. It is a sign of maturity for a government to avoid exacting vengeance. A government should learn to forgive and to eschew revenge. Perceiving that there would be political witch-hunting in the then in-coming Buhari government, the National Peace Committee (as it was composed in 2015 but prior to the swearing-in of Buhari as President) appealed to Buhari to avoid exacting vengeance and to always allow the rule of law to reign. And I think Buhari initially heeded the said appeal because in his inaugural speech on May 29, 2015, he said: “Having
WE ARE MEMBERS OF THE SAME HUMANITY THOUGH TONGUES AND TRIBES MAY DIFFER. THEREFORE WE CANNOT DERIVE JOY IN THE SPILLING THE BLOOD OF FELLOW MEMBERS OF OUR HUMANITY
just a few minutes ago sworn on the Holy Book, I intend to keep my oath and serve as President to all Nigerians. I belong to everybody and I belong to nobody‌.â€? But shortly after tasting power President Buhari changed his mind. He started saying that those from a particular part of the country who did not vote for him during the election should not expect the same treatment as those that voted for him. But what does it matter whether some people from a particular part of the country voted or did not vote for you? True statesmanship transcends such parochialism. Recently the BBC carried an uncommon report about a certain lady who forgave the man who murdered her husband. The lady did not only forgive the murderer but she went as far as ensuring that the murderer was released from detention. We gather that today the lady, in her true spirit of forgiveness, has even maintained some cordiality with the murderer. There is joy in forgiveness. There is strength in forgiveness. There is peace in forgiveness. It is only a person who nurses a revengeful spirit against others that is always sad and restless. Whether we like it or not we are all members of God’s family, our ethnic/clan/ nationality notwithstanding. We are members of the same humanity though tongues and tribes may differ. Therefore we cannot derive joy in the spilling the blood of fellow members of our humanity. In fact the death of our fellow human beings should set in us a certain revulsion about our own existence. If you come closer I will show you on my whatsApp the chilling corpses of those murdered innocent civilians as they lay in the pool of their own blood. This is not the first time the Nigerian military has disregarded all rules of engagement (ROE) and the rules of conventional war to open fire on unarmed Nigerian civilians. You will recall that on February 9, 2016 Nigerian soldiers shot and killed countless defenseless and unarmed civilians who were peacefully holding prayers inside the football field of Ngwa High School, Aba in Abia State. The photographs of the victims circulated on whatsApp at that time. The sad aspect was that as the investigations into the Aba massacre were still going on, the Onitsha massacre occurred on May 30, 2016. Over 30 civilians were killed and many injured in Onitsha by the military after several clashes involving the military, police and members of IPOB and MASSOB at Nkpor-Agu, Niger Bridge, Onitsha and Asaba. That purportedly was called dancing python one. Now dancing python two is being sent to the South-east. Last year the houses of some Nigerian judges were raided in the middle of the night. That barbaric act was self-styled ‘sting operation’. The laughable thing is that most of those judges who were visited with ‘sting operation’ have been absolved of corruption and even reinstated to their former positions as judges. So, why raid their houses when you have no evidence to successfully prosecute them? Now the same executive lawlessness is being witnessed in the Southeast with the ‘dancing python two’. Are you saying that instead of having recourse to the judiciary which is constitutionally-empowered to settle disputes between the government and the citizens the former should continue to use ‘sting operation’ or ‘dancing python’ in the settlement of disputes?
WIKE AND THE UNITED NATIONS AWARD The Rivers State Government is positively impacting on the poor, writes Femi Oladipo
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ooking for a prophet honoured at home and abroad? Then, you have found one. His name: Mr. Nyesom Ezenwo Wike, the Rivers State governor whose acronym is NEW. Since hitting his political limelight as Chairman of Abio/ Akpor local government area, Wike has moved up steadily and focused on his mission to be the real change. Love or hate him, Wike, since embracing politics and public life, has certain qualities nobody can ignore - courage and outspokenness. But what is more visible in the last two years is that he has clearly been consistent in the pursuit of excellence while not allowing distraction, manufactured and sold to the public, by his traducers to distract from the goals he had set out for himself. For this reason, many elect to misunderstand him. For the same reason also, some global organisations which go after substance and reward efforts to make positive impact on society, chose him to receive their global prize for sustainable development. The group is none other than the United Nations Sustainable Development Goals (SDGs), which is waiting for October 31 to award Gov. Wike its prestigious ‘Global Human Settlements Sustainability Awards’ for 2017. According to the SDG office, Wike will be officially conferred with the award on the said day at the United Nations headquarters in New York, United States of America. The award comes as a feather on Wike’s rising profile and a crown on his efforts to challenge the limits in the development of Rivers, which, arguably, in the eight years preceding his election as governor, did not witness much investment in the housing sector. Wike is showing his is a mind tied to the pains of the poor. The letter conveying the good news to Wike
said in part: “This Award is for the governor’s investments in the development of urban renewal programmes, housing and projects that improve the living conditions of less -privileged persons�. It also added that, “Wike is being recognised for his great commitment and contribution to sustainable cities in Rivers State�. The letter also eulogised Wike for “developing infrastructure in settlements in different parts of the state and ensuring that people have access to basic amenities�. The above lines speak volumes about Wike’s leadership in the state as well as his desire to ensure that no one is left behind in the quest to guarantee shelter for Riverians and hand them a liveable modern city which infrastructure will meet global standards. The award is a further confirmation that despite a seeming nasty opposition, Wike has remained focused in pushing to deliver the promises he made to people of the state. This is not the first time Wike’s style of governance and feats would attract awards to him. Last year, The Sun newspapers singled him out as winner of The Sun Governor of the Year, in its prestigious awards to distinguished Nigerians. He had also been similarly honoured by The Independent and The Authority newspapers, among others. While receiving the awards, he assured that they would spur him to achieve more. And true to type it did. The outcome is the new recognition from a UN body. Although they may not say it, some governors are learning from Wike. They have begun urban renewal projects, which seek to transform towns in their states into modern cities. These ndicate that Wike’s activism on infrastructural development is catching on. I am sure that many other governors will seek his input on urban renewal strategies in their states. What makes the current honour to the Rivers
State governor extraordinary and somewhat instructive is not just that it is coming from abroad, but that Wike could wring it out at a time the nation is facing huge economic challenge and most states are dogged with negative stories of not just being able to execute projects but also owing their staff arrears of salaries. Certainly, many would expect that the award would not just be a crown but a challenge to Wike to further his campaign to alter the status quo and change the living condition of the poor. It is also a challenge that should keep him focused in some of the promises he made to the people while campaigning to become governor of the state. During the campaigns in 2015, Wike was seen walking very dirty streets and markets. He visited shanties that are not considered good for human habitation by international standards. Such shanties made of corrugated iron sheets, dehumanise the human being and make life not worth the effort. Wike made a promise to positively impact on them. By pursuing an urban renewal programme therefore, Gov. Wike is holding himself accountable to the people and also making them realise that governance is not always about the elite. He has put the masses into his governance calculations and delivering impacts that will change the narrative on Rivers State. Truly that, indeed, should be the spine of governance. Those who govern ought to also look at themselves, embark on peer review and use lessons learnt to further whatever impacts they intend to deliver in helping lift a segment of society out of poverty. That is the lesson that Wike is delivering. That is also why, of the 36 state governors, he was spotted from the UN headquarters as someone whose time in office is positively impacting on the poor much more than it is doing on the elite. Interestingly, Wike is of the Peoples Democratic
Party (PDP), a party which did not promise to deliver change, but is graciously doing better in that regard than All Progressives Congress (APC), which election mantra was change. It says to the rational mind, that those who boast much, often deliver little. People of Rivers state are witnesses to the fact that their governor has delivered to them the Iriebe Medium Housing Estate, Rivers Quarters at the NNS Pathfinder, Quarters for Junior Staff of the DSS and facilitating the improved investment in housing by private investors. Those are part of reasons Wike is singled out for honour. Beyond the above, the governor is acclaimed for investing in land reclamation/sand filling in Asari-Toru, Degema, Akuku-Toru and Port Harcourt Local Government Area. These may not seem huge to the regular critic, but when weighed against impacts they have made on the life of the people, then, the reality comes down clearly. It comes as indication that investment made by people of the state with their thumbs is paying off. Of course, it is still morning for Wike. The days ahead present him opportunity for more developments. He sure still has a lot in his kitty for the state. For his supporters, the strong message his achievements in the last two years have sent is that he will coast to his second term with less hassle. His second term, I believe, will, beyond being a stamp of approval and a thank you, serve as a green light to push the redevelopment of the state beyond opposition’s imagination. Wike is on a roll. He is moving on without looking back. He sure has learnt lessons on how to satisfy the desires of the people. The mandate they gave him pushes him to do more. And he will do more. I have no doubt that the SDG award will open the floodgates of other such awards.
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EDITORIAL THE PLANNED CONCESSION OF TWO AIRPORTS The government should draw lessons from previous exercises
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ast week, the federal government conďŹ rmed that it had given approval for the concessioning of the two busiest airports in the country: the Nnamdi Azikiwe International Airport, Abuja and the Murtala Muhammed International Airport, Lagos. At the same period, the Ministry of Transportation also unveiled its plans to actualise the Aviation Road Map, including the establishment of a national carrier, the concession of four major airports in the country, the establishment of maintenance, repair and overhaul (MRO) facility, the establishment of a leasing company and completion of some cargo airport terminals. In deciding to concession these airports, the federal government has given teeth to the Public-Private Partnership (PPP) policy, which it said is the only way to effectively fund public infrastructure at a time government is experiencing dwindling resources. The argument is that it cannot meet the funding of such critical facilities in addition to providing other basic amenities. ANOTHER PROBLEM THAT Government had SHOULD WORRY FAAN insisted that it has AND ITS STAFF IS THAT become inevitable THESE FOUR AIRPORTS to partner with the THAT THE GOVERNMENT private sector in order to actualise these set PLANS TO CONCESSION goals. ARE THE SOURCE OF However, as lofty OVER 80 PER CENT OF THE as the goals may AGENCY’S REVENUE seem, many aviation insiders and other Nigerians are apprehensive about government’s plan to concession the airports. The apprehension stems from the fact that such efforts in the past yielded controversial results. A good example is the domestic terminal of the Murtala Muhammed International Airport (MMA2), Lagos, concessioned to Bi-Courtney Aviation Services Limited (BASL) and which built an airport terminal adjudged the best in the country. Several years later, the concession is still dogged by controversies and legal battles. The Federal
Airports Authority of Nigeria (FAAN) argues that instead of 36 years, it only gave the concessionaire 12. Besides, the concessionaire also said that government acted against what was contained in the agreement to the effect that there would be no other domestic terminal in Lagos State. The concessionaire said the operation at the General Aviation Terminal (GAT) by FAAN, and hosting two major domestic airlines - Arik Air and Air Peace – was a breach of the agreement. While that issue has remained unresolved, investigations revealed that most of the concession agreements in the country, in practically all the sectors, only provided a window for serving ministers and others in charge to ďŹ nancially empower themselves. There was often lack of transparency in the selection process, such that only cronies of government, at every particular period, won concessions.
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herefore, the apprehension about the credibility and transparency of the concession programme is well founded because there has not been any concession that was done in the industry, which was not trailed by controversy. Perhaps that might be why the concession of the Nnamdi Azikiwe International Airport, Abuja by the former President, Chief Olusegun Obasanjo was nulliďŹ ed by the succeeding government, while the controversy still rages on the concession of MMA2. A major challenge with the proposed concession of Abuja and Lagos airports is that most operations at these airports have already been given out in concession. From the hospitality services, to carousel management and others, there are subsisting agreements, some lasting several years. Another problem that should worry FAAN and its staff is that these four airports that the government plans to concession are the source of over 80 per cent of the agency’s revenue. In fact, the 18 other airports in the country are sustained from the money generated by these airports. So why sell the only viable airports? While we have no problem with a PPP arrangement for the two airports, we nonetheless hope the authorities are mindful of some of the misgivings being expressed by the public.
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DIVISION-SIZE MILITARY PUSH FOR IPOB
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hen the top brass of the Army announced that it was time to commence the second phase of a division-size (because it will be headed by a Major-General) operation against Biafra agitators and suchlike persons in the Southeast region, I only wondered if our military planners are not missing some crucial bit of tactical orientation and deployment of military resources. As it stands today, the only existential threat to the state of Nigeria stands glaring at us and mocking us from the grasslands of Sambisa. True, a separate republic (a caliphate, really) has been carved out of Nigeria so long landholders cannot claim their properties and travellers cannot journey through segments of Borno and Yobe States. It does not do Nigeria any good to continue to downgrade this state of affair by claiming progress against Abubakar Shekau and his Boko Haram horde. Shekau can only be defeated if the military adopts traditional old-school platonism by sending division-size force components in a pincer-and-holding pattern against the occupying
Boko Haram hordes and wear them out by sheer force of numbers and patience. Wars involve grit and sacrifices, with valour thrown in the midst. Thus the idea of appeasement, “de-radicalisation,� “human rights concerns� indicates that Nigeria’s military is emasculated. Also, the idea that only infantry soldiers from the South-south named “Okon,� “Umoh,� “Udoh,� “Akpan,� and such similar names should lead the charge against Boko Haram smacks of outright deceit and cowardice. In the ideal sense, an army division should comprise of 100,000 men (but the ideal is not usually met). This means that the resources of the Nigerian Army division at Enugu plus those scattered across the country (there is the One Division at Kaduna that my father served under) segmented into their specialist brigades, battalions, companies, platoons, and squads should push with immediate alacrity into Borno and Yobe States. MASSOB and IPOB agitators are smart because they have not taken up arms against the Nigerian state, thus it is futile for any python to dance in Biafraland as it is now. Sunday Adole Jonah, Department of Physics, Federal University of Technology, Minna
IS GOVERNMENT FATHER CHRISTMAS?
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will forever remain grateful to one of my teachers during my sojourn at Federal Government College, Enugu many years back. An assignment was given by her: Write an essay on how to tackle the problems militating against the growth of agriculture in Nigeria. I then researched... I kept on putting down: Governent should do this... Governent should do that. In fact, I can’t remember now if anyone wrote up to the number of pages I wrote. I was happy with myself. My fellow classmates were even jealous. The humble and sincere ones began to negotiate the possiblity of copying my work surreptitiously. We later submitted our assignments but this teacher opted to read out briefly only five of us (we were about 80 in class). Fortunately or rather unfortunately mine was among those chosen. She began to read out to the class the points made by each person. She was quite impressed with few before mine. When she came to my own, she was totally disappointed. What happened? She kept reading the litanies of what government should do. She was visibly enraged. She asked me, “Is Government Father Christmas? Why can’t you think of farmers helping themselves like forming
thrift and loan society....� Expectedly she never read out the remaining ones due to her fury. I got the message perfectly. In fact, since that day, I hated any form of help coming from government. I would rather solve my problems myself than wait for goverment. Coming to our own precarious situation in Nigeria, it’s now a truism that South East is ostracised in the scheming of things. But then, shall we be waiting perpetually for the federal government who doesn’t care about us? Can’t the states in the region team up ideas and resources to revamp the fortunes of the region? Southeast have the lowest poverty rate by region in Nigeriai and most roburst human capital in Africa. I’m quite happy that few states in Southeast have begun the “economic revolution� but it has to be aggressive. Moreover, from all indications, political revolution will eventually snowball into war which we are not equipped to handle. I have not seen any Third World country that gained independence without passing through the crucible of war due to our poor perception of the word “democracy� and our own Biafra cannot be an exception. Dr Ugoh-Ezepue Kenechukwu, Enugu
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MIDWEEKPOLITICS
Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY
THE NEWSMAKER
Madumere: Favoured to Succeed His Boss Imo State deputy governor, Eze Madumere from Owerri Zone of Imo State is favoured to clinch the All Progressives Congress’ ticket for the state gubernatorial election in 2019, but the odds against him are legion, Amby Uneze reports
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he route to the development of any society is always pursued by every sane mind, hence success is a relation to many while failure remains an orphan. This succinctly captures the situation in Imo State at the moment as stakeholders begin to make plans to get a successor to the state governor, Rochas Okorocha come 2019. While the incumbent Okorocha is of the opinion that it is within his capacity to anoint his successor, at least to continue with his rescue mission agenda, as well as protect his interest when he leaves office, others are working frantically against such move, especially the opposition, who believe that Okorocha has not done much to decide who succeeds him. Judging from the governor’s body language, the people have noticed that his plan is to impose his son-in-law, Chief Uche Nwosu, who also comes from Orlu zone (Nkwerre), the same senatorial district of the governor. For the people of Imo State, that is a plan that should not be allowed to happen. Those opposed to the governor’s plan believe that it will be a slap on their faces and they are already working very seriously to thwart such dream, if the governor ever tries it. The dominant public opinion has been that if the governor really wants to get somebody to succeed him within his party, the All Progressives Congress (APC), he should rather beam his searchlight towards Owerri senatorial district where he also has some faithful loyalists such as the current deputy governor, Prince Eze Madumere, former Secretary to the State Government (SSG), under his government, Sir Jude Ejiogu, the incumbent SSG, Sir George Eche, former Commissioner for Information and Strategy, Dr. Theodore (TOE) Ekechi. Already these persons one way of the other have expressed interest in the governorship of the state, but the issue now is that the governor seems not to be looking their way or it could be that he is still engaging in decoy by purporting to back his son-in-law. If the opinions of many people in Imo State are right, Okorocha’s APC has let the state down and had suceeded in making enemies for his party to the extent that many now look forward to other political parties to come and rescue the state. Their discontent flows from the way and manner Okorocha has continued to impoverish the people he is leading while he has successfully empowered his family members. This, in the word of Imo people has made the Okorocha government “A government of the family of Okorocha by their mentor and for the same family”. This style of governance actually portends danger for the ruling party, and that is mainly the reason why people will be disenchanted with whoever he (Okorocha) will sponsor to succeed him. However, Okorocha’s government has successfully brought out the latent leadership qualities embedded in the person of Madumere, who is believed to have known and worked with him for over 23 years now, and as such, the choice of Madumere could be seen as the best option in so many ways, especially when experience, humility, accessibility are aken into consideration. It will be a huge departure from the bosssubordinate relationship and a big opportunity to have a listening government that would follow due process and the rule of law in his dealings with the people. Unlike his boss, the deputy governor is a team player. Though as things stand today, among those jostling to replace Okorocha, Madumere is not in the picture because he had said it on several occasions that such aspiration is not within his calculation for now. He has continually said: “I am in a joint ticket with my boss (Okorocha)
Madumere...extremely loyal to his boss
and we are still focused to bring the desired dividends of democracy to the people of the state. The rescue mission agenda which I am part of is still on course”. But according to a group calling on Madumere to join the governorship race, the reason for the interest in the deputy governor is because he is not ambitious. He is satisfied with what he has at the moment and does not struggle to out-shine his boss, rather he keeps cool. He is satisfied with allowing his boss takes all the credits. For those rooting for him, here is someone who has shown humility and focus and he should therefore be sought after if Owerri zone ticket must be realised. Generally, he is referred to as “Mr. Humility” by his colleagues. Some state governors have also testified to his humility whenever he represented his boss during national ad regional engagements. Madumere was quoted in a recent interview that his humility was a product of his upbringing by his parents and he had refused to depart from their wise counsel right from his days as a boy. His colleagues and other state governors respect him for his humility and support for his boss at all times, hence they had occasionally and jocularly told his boss that he was lucky to have found a better successor in his deputy. He is also very loyal to his boss, even to a fault.
It is public knowledge that the governor of Ekiti State, Mr. Ayodele Fayose has publicly anointed his deputy, Prof. Kolapo Olusola Eleka to succeed him as governor. This may be the right path for Okorocha to follow
It is public knowledge that the governor of Ekiti State, Mr. Ayodele Fayose has publicly anointed his deputy, Prof. Kolapo Olusola Eleka to succeed him as governor. This may be the right path for Okorocha to follow. Fayose has remained a leader that is widely cherished because of his penchant for the truth and good governance. For Okorocha to anoint his deputy as his successor in 2019 means he values the cordial relationship that had existed between them for over two decades. Such relationship is like that of father and son, which normally should not be toyed with. Okorocha reportedly agreed in 2011, when he was canvassing for the votes of Imo people that he would serve only a single term so that someone from the Owerri senatorial district (most likely Chief Martin Agbaso) could take over in 2015 but along the line, the governor changed his mind. He first humiliated Agbaso through the impeachment of Jude Agabso who was his former deputy. After the impeachment, Okorocha quickly forwarded Madumere’s name to the state assembly for confirmation as deputy governor and the assembly immediately approved it. Until his confirmation as deputy governor, Madumere was the Chief of Staff to the governor. He was one of the most influential chiefs of staff n the country then. Madumere, a prince of Achi Mbieri in Mbaitoli Local Government Area of Imo State is the son of His Royal Highness, Eze Henry Anorue Madumere, the traditional ruler of the community. Despite being from a royal family, Madumere is a friend of everybody. Born in Port Harcourt, he had his primary school in Owerri, secondary education in Lagos and university education in the United States of America, where he obtained a B.sc in Business Administration from San-Jacinto College, University of Houston Texas. Madumere returned to Nigeria for his masters degree at the Imo State University, Owerri. He is in his early 50s and was born on July 4, which coincides with the American independent day anniversary.
While politics is synonymous with controversy, Madumere has had his own fair share of controversy, but for him, the controversies have mostly been minor. For instance, the protest in 2012 over his being named as the chairman of a Shell Gas Plant project in Ohaji/Egbema was one of such. Truly, there are very few politicians in the country who can claim to be as loyal to their bosses as Madumere has been to Okorocha. When Okorocha first ran for Imo governorship, Madumere returned from the US to serve as the Director for Women and Youth Mobilisation for his campaign organisation under the PDP. He was 34 years old then. Okorocha lost the election though. In 2002, he returned again and served as chief strategist on media and logistics for Okorocha’s presidential bid. Okorocha lost too. However, former president Olusegun Obasanjo compensated Okorocha by appointing him special adviser on inter-party relations. Okorocha promptly appointed Madumere as his chief of staff in that office. In the build-up to the 2011 governorship election, Madumere was once attacked with acid, for which he had to undergo a surgery but the scars are still visible on his face. Account had it that as soon as it became clear that the ruling PDP had been humbled at the poll, an apparently elated governor-elect and his supporters retired to the Larmond Hotel – located in the state capital, to hold series of meetings aimed at fine-tuning the take-off of the state. But just before dusk that day, heavily armed security men comprising the military and police stormed the hotel and demanded to see Okorocha. The leader of the invading troops said he had orders from above to bring Okorocha to the federal capital, Abuja. It was gathered that almost all the supporters of the then governor-elect, who couldn’t stand the sight of the heavily armed and stern-looking security men scurried into safety. But one man stood his ground - and requested the security men to arrest him instead of picking the then governor-elect. That man is Madumere. Amidst the row between the security men and Madumere over who should be arrested, Okorocha allegedly escaped into safety through an exit at the back of the hotel. Having missed the prime target, the security men bundled Madumere into a waiting security van which drove him straight to a police station, where he was detained before he was dragged to court for alleged obstruction of justice. The court later remanded him in prison custody. He spent 21 days at the Owerri prison before he regained his freedom. No one can argue that Madumere has not paid his dues. But the fear of Imo people is that Madumere may turn out to be a surrogate to Okorocha bearing in mind that they had remained together for the past two decades. For some others, they just would not want to experiment with the Okorocha days in the state again, rather they want an independent person who will not have anything to do with Okorocha. However, such fears may be ruled out considering the fact that Madumere has acquired the relevant skills and experience to govern without being tele-guided by anyone. Conclusively, it is very pertinent to state that Madumere is a fearless leader and one who stoutly believes in his ability to deliver the dividends of democracy when the need arises. Owerri zone would have been fairly treated if one of their own becomes the next governor of Imo State come 2019. That is actually the demand of Imo people especially the people of Owerri zone whose chances of becoming governor in the past had not materialised largely due to greed. But for Madumere, his greatest asset may be his biggest liability- his boss.
T H I S D AY ˾ WEDNESDAY, SEPTEMBER 20, 2017
19
MIDWEEKPOLITICS
Brewing War over Tourism The decision of the National Assembly to make the federal government the sole regulator of the tourism industry has unsettled many governors who believe that the move is an encroachment on the powers of the states under the constitution writes Gboyega Akinsanmi
R
ecently, the Senate initiated a process to repeal the Nigerian Tourism Development Corporation (NTDC) Act, 2004. Basically, the Act provides legal and institutional regimes for the regulation of Nigeria’s tourism and hospitality sector. Already, the process for its abolition has scaled through the second reading at the Senate. Currently, the bill has been transmitted to the Senate Committee on Culture and Tourism for consideration. At its completion, the process will lead to the passage of the Nigerian Tourism Development Authority (NTDA) Bill, 2017. As part of the process to replace the NTDC Act, 2004, the Senate Committee of Culture & Tourism convened a public hearing in August to specifically enlighten and sensitise all stakeholders on the imperatives for the new tourism regime. At the public hearing, the Chairman, Senate Committee on Culture & Tourism, Sen. Matthew Urhoghide, explained the decision of the upper chamber “to initiate a bill for an Act to repeal the Nigerian Tourism Development Corporation Act CAP N137 LFN 2004 and enact the Nigerian Tourism Development Authority (NTDA), 2017 (SB. 429).” Prior to the NTDA Bill, Urhoghide said the NTDC Act, 2004 was the only existing law regulating tourism and hospitality in Nigeria. But according to him, the new bill seeks to repeal and enact a new law entirely. He, thus, said the subject-matter of the bill “is under the legislative purview of the National Assembly. Hence, the Bill does not violate any existing law in Nigeria.” Before delving into the content of the new bill, an inquiry into the country’s tourism sector would help unravel the origin of the NTDC Act, 2004. In its current state, the NTDC came into being effectively in 1992. Under the administration of Gen. Ibrahim Babangida, the corporation was established by Decree No. 86 of 1991. Before the advent of the NTDC, the Supreme Military Council (SMC) had promulgated Decree No. 54 of 1976, which created the Nigeria Tourism Board (NTB), the country’s first tourism regulatory body. Even after Decree 54 of 1976 was promulgated, the successive military regimes had largely defined rules and regulations governing the country’s tourism sector, which stakeholders believed, formed the core challenge bedeviling the sector till date. In 1982, for instance, the then Muhammadu Buhari regime started the Master Plan on Tourism Development in Nigeria. However, the country’s first tourism development policy was not ready until 1990. The implication of the policy was indeed huge. The policy, first, paved the way for the promulgation of Decree No. 86 of 1991. Subsequently, the policy prepared grounds for the establishment of the NTDC, which according to Degree 86, was saddled with the onus of regulating the sector from 1992. But due to military influence at the coneptualization of its policy, the tourism sector was perpetually under the purview of the federal government during the military era. In the last four decades, the military thinking has been shaping the country’s tourism industry, even after the country was transited to civil regime in 1999. After the transition, the same thinking was predominant in the tourism sector governance, though the 1999 Constitution limits the regulatory power of the federal government “to tourist traffic alone.” Also, in the on-going amendment of the subsisting tourism regime, the same thinking is dominant in the NTDA Bill which was first laid before the Senate on March 9, 2017 and now at the committee stage. Urhoghide, who sponsored the bill, had argued that the institutional structure “is yet to be regulated to compete favourably with other fast growing tourism destinations.” Almost all stakeholders agree that Nigeria’s tourism sector is underdeveloped. In 2016, for instance, total contribution of travel and tourism
Senate President, Dr Bukola Saraki
to GDP was N1.86 billion. This figure was a far cry from a revenue $304.9 million that Rwanda generated from tourism and travel in 2014. Compared with its tourism potentials, what raked in annually is abysmally insignificant. But they never agreed to the initiative of the Senate to legislate on matters that borders on the jurisdictional powers of the constituent governments across the federation. In essence, the NTDA Bill calls for aggressive tourism development, regulation and promotion by the federal government. Then, which level of government has the core responsibilities to develop, legislate and regulate on tourism and hospitality sector in Nigeria? Under whose legislative and executive functions does the control and management of tourism resources fall? Among others, these are the core questions the NTDA Bill attempts to resolve. However, the content of the new bill, currently at the committee stage before the Senate, raises more questions than answers it intends to offer. First and foremost, Part II of the NTDA Bill seeks to establish the Nigerian Tourism Corporation (NTC), which it says, shall be a body corporate with perpetual succession and a common seal and may sue and be sued in its corporate name. Section 15, also, outlines the core responsibilities the NTC will discharge if the new regime eventually sails through. According to the bill, the corporation shall develop and promote Nigeria as a travel and tourism destination; encourage the provision and improvement of tourism amenities and facilities in Nigeria; accredit, regulate and supervise tourism enterprises for quality assurance and implement all government policies related to tourism. As proposed under Section 15 of the NTDA Bill, equally, the NTC “shall oversee the administration of the Tourism Development Fund (TDF) and ensure that the Fund is utilised for the required purposes; ensure collaboration with other public, private and international agencies and advise
From all indications, however, the NTDA Bill offends two established legal instruments in Nigeria
the federal government on policy issues relating to tourism generally.” Likewise, the new bill seeks to establish the TDF, which it says, shall generate funds from different sources intervention funds from the federal government and loans from banks. Under Section 26, the TDF shall provide funding for tourism development and tourism-related projects and programmes. Explicitly, the section further defines other sources of the Fund to include donations from states, area councils, public agencies, private organisations, multinational companies and individuals. Section 28, specifically, provides for the establishment of Tourism Development Fund Management Board (TDFMB), over which it says, the President “shall appoint a Board of Trustees that administer and manage the Fund.” Under Section 28(2), the board shall concern itself only with the control, investment and administration of the Fund, including the proceeds of securities issued on Fund Assets for the benefit and development of the tourism and hospitality industry. Beyond the creation of the Fund and its board, the new bill proposes a tour operating company, which it says, shall be established “to operate tour services within and outside Nigeria. Also, the company shall have offices to operate in all the zones. The Corporation shall operate the company on a commercial basis.” In all, the new bill has 45 sections and two schedules that set conditions for abrogating the NTDC Act, 2004 and the enactment of the NTDA Bill, 2017. From all indications, however, the NTDA Bill offends two established legal instruments in Nigeria. First, different sections of the new bill contravene the Constitution of the Federal Republic of Nigeria, 1999 (as Amended). Unlike the tourism regimes under the military era, Item 60(d) of Part I of Second Schedule to the 1999 Constitution specifically states that the federal government shall regulate the country’s tourist traffic pure and simple. Consistent with this constitutional provision, the federal government lacks power or jurisdiction to discharge other responsibilities than managing and regulating tourist traffic in and out the federation. However, the term “tourist traffic” had once generated controversies of its own when the federal government challenged the power of the Government of Lagos State under the Babatunde Fashola administration
to enforce its Hotel Occupancy and Restaurant Consumption Law, 2009; Hotel Licensing Law, 1983 and Hotel Licensing (Amendment), 2010. In 2009, the Lagos State House of Assembly (LSHA) had exercised its constitutional power to license and regulate hotels in the state. Consequently, the assembly enacted the Hotel Occupancy and Restaurant Consumption Law. Primarily, the law imposes a 5% tax on consumption of goods and services in hotels, hotel facilities, event centres and restaurants among others. Offended by this law, however, the federal government challenged the power and right of the Lagos State Government at the Supreme Court “to make laws on tourism, specifically where the National Assembly had already legislated on the same issue through the NTDC Act.” The fact that the National Assembly had legislated on the same issue was not sufficient to throw out the law, which the state’s lawmaking organ enacted. Second, the NTDA Bill glaringly violates a precedent of the Supreme Court in a suit between the Federal Government and Lagos State. The suit borders on the power of the LSHA to legislate on matters relating to hotels, hotel facilities, event centres and restaurants within the state. In a unanimous decision in the suit between Attorney-General of the Federation and Attorney-General of Lagos State, the Supreme Court held that the constitutional powers of the federal government is expressly limited to tourism traffic in Nigeria. Categorically, the court defined the term “tourist traffic” to avoid the ambiguity of constitutional interpretation. In consonance with the letter and spirit of Item 60(d) of Part I of Second Schedule to the 1999 Constitution, the court ruled that tourist traffic “means the ingress and egress of the tourists from other countries, that is, international visitors or foreigners.” Besides, the court ruled that tourist traffic connotes “an international visitor who travels to another country for the purpose of sightseeing, e.t.c. and who must thus obtain a visa to the said country, in this case, Nigeria, which calls for the exercise of the function of the Immigration Department of the Ministry of Internal Affairs as governed by the Immigration Act…” Likewise, the court explained the power and the right of the federal government “to regulate tourist traffic in Nigeria.” Under the constitution, the court ruled that such power “refers to the issuance of entry visas, the determination of tourist stay in Nigeria, general regulation of tourists’ movement within Nigeria.” Other than tourist traffic the 1999 Constitution empowers the federal government to regulate, Lagos State, like other states in the federation, reserves the sole power and right to regulate tourism within its defined jurisdiction. The court, thus, affirmed the powers of the federating units “to make laws within a federation.” It relied on a legal opinion canvassed in the work of Prof. Ben Nwabueze, SAN that federalism “is an arrangement whereby powers of government within a country are shared between a national and a number of regionalised governments in such a way that each exists as a government separately and independently from others operating directly on persons or property within the territorial area, with a will of its own apparatus for the conduct of its affairs..” On this note, the NTDA Bill, 2017 may not stand any constitutional test if challenged in a court of competent jurisdiction on three grounds. First, the object of the new bill noticeably encroaches into other jurisdictional functions or responsibilities, on which only state lawmaking organs can legislate enshrined in the 1999 Constitution. Second, the bill offends the precedent of the apex court, which glaringly defines and explains the roles the federal government can play in all matters relating to tourism and hospitality sector. Third, the bill constitutes flagrant disregard to the powers of the State House of Assemblies, which the 1999 Constitution empowers to make laws for the peace, order and good government of their states.
WEDNESDAY, SEPTEMBER 20, 2017, Ëž T H I S D AY
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FEATURES Helping the Visually Impaired
Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com
John Shiklam writes that a non-governmental organisation, Knowledge for the Blind Initiative, is helping in addressing the challenges of visually impaired persons in Kaduna
Ikilama (2nd right) with two beneďŹ ciaries of free cataract surgery by KBI
Patients waiting for free cataract surgery sponsored by KBI
I
t was a day of joy for the virtually impaired when a non-governmental organisation (NGO), Knowledge for the Blind Initiative (KBI), visited their Kano Road residences in the heart of Kaduna metropolis. Known as "Gidan Nakasasu" (house of the disabled), the place is a squalid environment where hundreds of destitutes, including lepers, the virtually impaired, the crippled and their children live under horrible conditions. The camp is erected with corrugated iron sheets that have now become rusted, as shelter for them and their ever increasing population of children whose future seem very bleak as they cannot afford to send them to school. The KBI main objective is to improve the living conditions of the virtually impaired by providing them with the requisite knowledge. The NGO had visited the centre to educate the virtually impaired on personal hygiene.
Though the target was virtually impaired people residing at the camp, but others at the camp also joined at the roundtable
What we have done today is to help our brothers and sisters to acquire knowledge that they can use to improve their lives. There is power in knowledge and today we focused on personal, oral and environmental hygiene. Our focus is to give knowledge for quality life. That is our target
discussion aimed at providing them with basic health tips for environmental and personal hygiene. Executive director of the KBI, Andrew Gani-Ikilama, said virtually impaired people face more challenges than other people with other forms of disability when it comes to health issues as they cannot see. Mrs. Safia Ahmadu who spoke on the need for clean environment during the discussions, said clean surrounding promotes good health and urged them to keep their environment clean to avoid outbreak of disease. She urged them to ensure that all wastes are put into dustbin as well as ensure that pots and utensils are not left lying about after cooking as this could attract rodents, thereby causing viruses that could lead to unhealthy situations. She further advised them to clean gutters and avoid cooking where there is trash can or stagnant water as well as clean the
surroundings of their dwindling places every day. Also in her own presentation, Dr. Salamatu Akor enumerated tips for oral health which can promote good health, emphasising on the need for brushing the teeth twice daily with toothpaste or salt, in a situation where toothpaste is unaffordable. She advised against smoking cigarettes and urged them to go for a regular dental check up. The need for regularly bath was also stressed, while men are to keep their hair short and women to plait or braid and comb. Similarly they were told to ensure that finger nails, excess hair under the armpit and pubic area are trimmed while under wears and beddings are to be washed regularly. At the end of the talks, they were all presented with some basic items including tooth brushes, toothpaste and soap to start off with the new knowledge gained on
WEDNESDAY, SEPTEMBER 20, 2017, ˾ T H I S D AY
21
FEATURES
Dr. Salamatu Akor giving tips on oral hygiene during the roundtable with the virtually impaired at Kano Road, Kaduna
Mrs. Safiya Ahmadu giving a talk on environmental hygiene during interaction with the virtually impaired at Kano Road, Kaduna
Ikilama (left) presenting a gift to a virtually impaired
Children of the virtually impaired
personal hygiene. Ikilama said the KBI said was determined to improve on their lives through education and skills acquisition. "What we have done today is to help our brothers and sisters to acquire knowledge that they can use to improve their lives. There is power in knowledge and today we focused on personal, oral and environmental hygiene. Our focus is to give knowledge for quality life. That is our target," he said. Speaking further, he expressed the hope that the virtually impaired will have the knowledge and the skills that will empower them to improve on their living condition. He frowned at the filthy environment and the decaying structures that accommodate the destitutes, describing it as unfortunate. He called on the government and public spirited individuals and organisations to come to the aide of the destitutes. He disclosed that in the last three years, his organisation had reached out to 10,000 virtually impaired people with different activities. "I am totally not happy with the environ-
ment which the blind and other physically challenged people live in. "I personally will not live in this kind of buildings, but we are starting with what we can. We hope to impact positively on the environment and the buildings which they live in, giving available resources. We are looking up to a day when these people
Over the years, the Knowledge for the Blind Initiative has built a reputation for delivering crucial support and vital services to persons who have gone virtually impaired and their families
would be settled in their own homes, in a community and not secluded and excluded from the mainstream community," he said. According to him, working for the virtually impaired is a lifetime calling which he promised his late father who was virtually impaired from childhood and who he cofounded the KBI with. "My father, the late Dr. Bitrus Gani-Ikilama who co-founded KBI was blind when he was a child and he made me promise that I will continue to help the blind," he said. Leaders of the virtually impaired, the crippled and lepers who were present during the enlightenment campaign expressed gratitude to Ikilama and his team for showing concern about their plight. While lamenting the deplorable condition of the centre, they called on the government and wealthy individuals to help rehabilitate the centre as well assist in educating their children by building a school in the centre. Ikilama, the founder of the KBI was the first blind child in Nigeria to be enrolled in primary school at the School for Blind Children in Gindiri, Plateau State in 1955. He was also the first blind boy to attend the Boys’ Secondary School in Gindiri. He was not born blind, he became blind at the age of five after contracting measles. After his secondary education, GaniIkilama attended the School of Physiotherapy, Royal National Institute for the Blind in the United Kingdom. He returned to Nigeria after completing his studies and practiced at Ahmadu Bello University Teaching Hospital (ABUTH) in 1967, rising to the position of Head of the Department of Physiotherapy before he retired. He was instrumental in the formation of
‘Tape Recording Services for the Blind’ in 1976, an initiative which was very successful and afforded blind people the opportunity to be educated. In 1979, the organisation expanded its services to provide Braille production, guidance and counseling, consultancy, and later on vocational training. With the expansion, the name was changed to Hope for the Blind Foundation. Over the years, the KBI has built a reputation for delivering crucial support and vital services to persons who have gone virtually impaired and their families. These services include, Braille transcription and library, counseling, books on cassette, orientation and mobility training, craft skills training, scholarships, training and research through Hope Institute of Development and Research, and provision of medical and social care. Andrew, a 1991 graduate of ABU, Zaria took over from his late father as the executive director of the KBI in 2001 and since then, he has been making every effort to keep the promise he made to his late father. His experience as a stock broker and associate member of the Chartered Institute of Management has been quite useful in taking the foundation to higher heights, although funding has been a challenge. Recently, the initiative assisted 30 people to recover their sights from cataract through surgery. The surgeries carried out at National Eye Centre, Kaduna in collaboration with Ophthalmological Society of Nigeria, sponsored by the organisation and its partners who are committed to reducing blindness. Rehabilitation services are also provided for those that have gone virtually impaired.
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IMAGES
Minister of Information and Culture, Alhaji Lai Mohammed (left) and Head of Civil Service of the Federation, Mrs. Winifred Oyo-Ita inspecting some products on display at the ongoing African Arts and Craft Expo in Abuja... recently
MONDAY, SEPTEMBER 18, 2017, ˾ T H I S D AY
Photo Editor Abiodun Ajala Email abiodun.ajala@thisdaylive.com
L-R; Reverend, Most Senior Victor Olufemi Ajayi, Ogun State Commissioner for Commerce and Industry,Otunba Bimbo Ashiru, and President Ijebu-Ode Diocesan Council of Catholic women organization, Mrs. Elizabeth Sonubi at the presentation of achievers award to the commissioner in Ijebu-Ode, Ogun State...recently
Minister Director-General, National Space Research Development Agency (NASRDA), Prof. Saidu Mohammed(middle) flanked by Space Ambassadors from left, Junior Secondary School Category, Juanita NkobiSmah; Primary School Category, Daniel Gashinbaki and Senior Secondary School category, Salnah Ahmad Matane at their induction ceremony in Abuja...recently L-R; Chief Executive Officer, Global Help Intergrated Alliance Ltd, Mrs Eunice Ochheja; her Husband, Mr. Timothy Ocheja;Chairman, Mr.Owelle Mbaso; Senior Special Adviser to Anambra State Governor, Mr. Henry Onyekumnaru; and Mr. Tunde Popoola, at the unveiling of global net coin in Lagos.. recently
L-R: Director, Memebrship Service, Nigerian Employers Consultative Association (NECA), Mr. Timothy Olawale; President, Mr. Larry Ettah; and 2nd Vice President, Mr. Terry Witson, during the association’s media briefing on the Nigerian Economy in Lagos..recently yomi akinyele
L-R; , Vice President Nigerian Society of Engineers (NSE) Engr. Tasiu Gidari Wudil, representing the President of NSE; Immediate Past President, Federation of African Engineering Organisations (FAEO) Engr Mustafa Balarabe Shehu and member African Union Commission Dr Mohammed Kyeri at the Stakeholders Review Meeting for African Catalyst Project of Statistical Data for Women in Science and Engeering in Abuja....recently Julius Atoi/ thisday images
L-R; Representatives of Zenith International bank, Olabisi Obasa; Nigeria Inter-Bank Settlement System Plc(NIBSS), Samuel Oluyemi; Chief Compliance Officer Trustfund Pensions Limited, Mrs. Rachael Osa Obi; Representative of Zenith Pension Custodians Limited (ZPC), Daniel Chokor; and the Pension Desk Officer of the Nigeria Civil Service Union, Comrade R. A. Shamaki; at the 2017 Emloyers Interactive Forum in Abuja,..recently
L-R: Manager, ICT Relations, Proudly Nigeria Campaign, Mr. Peter Nwabuoku; General Manager/Coordinator of the Organisation, Mr. Michael Abugo and Deputy General Manager, Mr. Ayotunde Ogunbona, during a press conference on the forthcoming Ogun exhibitions proudly Nigerian, in Lagos...recently kolawole alli
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WEDNESDAY, SEPTEMBER 20, ˾ T H I S D AY
BUSINESSWORLD R A T E S NIBOR OVERNIGHT 1-MONTH
A S
A T
NIBOR 3-MONTH
15.3333% 17.0332%
6-MONTH
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M A R C H 9 , NITTY 1-MONTH 2-MONTH
Group Business Editor Chika Amanze-Nwachuku Email chika.amanzenwachukwu@thisdaylive.com 08033294157
2 0 1 7
13.0970% 14.0684%
3-MONTH 6-MONTH
15.7898% 19.6644%
EXCHANGE RATE N305.50//1US DOLLAR* *AS AT LAST FRIDAY
Quick Takes NEPAD Launches Financing Initiative
FOR YOUR PERUSAL
L-R: MD/CEO, Aircom Nigeria Limited, Mr. Yemi Idowu; Oyo State Deputy Governor, Otunba Moses Alake Adeyemo and Executive Director, Commercial and Institutional Banking, Sterling Bank, Mr. Lanre Adesanya, during the presentation of ‘Manual of Emergency and Essential Surgical Care in sub-Saharan Africa’ at the College of Medicine, University of Ibadan … recently
IMF Puts Global Cost of Bribery at $2tn Annually Obinna Chima The International Monetary Fund (IMF) has estimated that the annual cost of bribery — just one sub-set of corruption — to be between $1.5 and $2trillion. This, the Fund estimated to be about two per cent of global Gross Domestic Product (GDP). It argued that the costs represent the tip of the iceberg, saying the long-term impacts are much deeper. The Managing Director of the IMF, Christine Lagarde, said this in a presentation titled: ‘Addressing Corruption with Clarity,’ at the Brookings Institution, Washington, DC, on Monday. It is believed that bribery and
ECONOMY corruption is one of the factors that have hindered growth in a lot of African countries, including Nigeria. However, Lagarde, pointed out that in order to tackle corruption, there was the need to acknowledge the problem plainly and measure its impact accurately. “We all know that corruption is a complex problem often involving multiple actors who operate in the shadows. “Consider just one example — a bribe in the extractive industries. Yes, a local official may demand a bribe, or a government ministry may turn a blind eye, but what about the
company who proffers the money? Surely, it participates in the illicit transaction. “After all, for every bribe accepted, one must be offered. For this reason, as we assist our members in fighting public corruption, we also are committed to looking at transnational private actors who influence public officials. “Private actors may help generate corruption through direct means such as bribery, but they also can facilitate corruption through indirect means, such as money laundering and tax evasion,” she explained. According to her, the case of the “Panama Papers,” underscored the pernicious way corruption can quietly spread
across borders. She noted the growing consensus among members that corruption remains a macro-critical issue in many countries. “It has become clear that systemic corruption undermines the ability of states to deliver inclusive growth and lift people out of poverty. “It is a corrosive force that eviscerates the vitality of business and stunts a country’s economic potential. “Think of a government spending taxpayer money on a glamorous, but unnecessary new convention centre, whose ulterior purpose is to generate kick-backs. Continued on page 24
Again, Discos Deny Rejecting Electricity Loads from TCN Chineme Okafor in Abuja The 11 electricity distribution companies (Discos) in Nigeria’s electricity market have again denied rejecting volumes of electricity supplied to them by the Transmission Company of Nigeria (TCN) for onwards distribution to customers in their distribution networks. The Discos said in a statement from their association - the Association of Nigerian Electricity Distributors (ANED), recently in Abuja that it was natural for electricity demands of their customers to drop at night, pointing out that such development has been misrepresented by the TCN as load rejection. ANED’s spokesperson, Mr. Sunday Oduntan, stated
ENERGY that the TCN has frequently misinterpreted energy readings of the Discos by miscalculating drop in electricity demand from customers at night as load rejection. He said the Discos’ stations have capacities that are higher than the energy allocation from the grid, but often receive less from the transmission network. “What has happened is the inaccurate rendering or misinterpretation by the System Operator (SO) of Discos’ minimum and maximum load readings. The SO in its recent allegation of load rejection against Discos wrongly projected the load drop/demand, during off-peak hours (night times) as load
rejection. “This is not, and cannot be labelled as load rejection by Discos. Naturally, Discos take and distribute more energy during the day time/business hours than night time when demand is generally low due to lesser demand. The unfair interpretation of off-peak energy data as load rejection is grossly inaccurate and misleading,” said Oduntan. He further explained: “The unfair interpretation of off-peak energy data as load rejection is grossly inaccurate and misleading. The occasional times Discos have been unable to distribute energy received are directly due to the inadequate TCN infrastructural interface with the Discos.”
Oduntan, also stated that the distribution stress test reports of most Discos revealed average Station Capacity Utilisation (SCU) of less than 50 per cent due to TCN infrastructural constraints. He cited instances of Ibadan Disco where about 803 megawatts (MW) of its 1,538MW capacity is restricted due to TCN’s undersized 132kV line conductors at Ayede/Sagumu/ Ijebu-Ode, aged indoor breakers and transformer capacity limitations, with over loaded transformers in Ibadan North and in Shagamu. Oduntan equally referred to the review of the National Control Centre (NCC)’s report for September 3, 2017, and said Continued on page 24
The New Partnership for Africa’s Development (NEPAD) African Union’s economic development programme gathered international investors and CEO-level business leaders at the NASDAQ Stock Market recently for the launch of its five per cent agenda campaign. The launch took place five years after a January 2012 African Union Summit adopted the Programme for Infrastructure Development in Africa (PIDA) which sets out 51 cross-border infrastructure programmes and more than 400 actionable projects in four sectors. According to theWorld Bank, the continent needs to spend $93 billion annually (44% for energy; 23% for water and sanitation; 20% for transport; 10% for ICTs; and 3% for irrigation) until 2020 to bridge its infrastructure gap, which is currently removing an estimated two per cent of GDP growth every year. On the other hand, Africa only managed to close 158 project finance deals with debt totalling $59 billion over the decade 2004-2013, which represents only 5 per cent of infrastructure investment needs and 12 per cent of the actual financial flows. The 5% Agenda campaign highlights that only a collaborative public-private approach can efficiently tackle these issues and calls for allocations of institutional investors to African infrastructure to be increased to the declared 5% mark. Speaking at the launch event in New York, Ibrahim Assane Mayaki, NEPAD Chief Executive Officer, commented: “Infrastructure plays a leading role in supporting growth on the continent. At the same time, it can represent an innovative and attractive asset class for institutional investors with long-term liabilities. By launching the 5% campaign in New York today, we invite investors to take advantage of the wide-ranging opportunities Africa has to offer and to move forward with what can only be a win-win partnership.”
Index Unveils Investment Opportunities
Despite recent recovery in Nigeria and South Africa, Kenya and Ethiopia might soon outshine these heavy-hitters in the competition for investment, according to the newly released Africa Risk-Reward Index developed by Control Risks and Oxford Economics. Africa’s economic giants, Nigeria, South Africa and Egypt, have been stumbling recently. Rising security risks and political instability in Egypt, economic downturn and militancy in Nigeria and escalating political risks in South Africa led to doubts whether the balance between risks and opportunities in these markets is still favourable for businesses Nigeria and its energy sector are too big to lose their appeal – the country’s reward score is 6.0 (out of 10), ahead of South Africa and Egypt, the report stated. It noted that South Africa’s risk score of 5.0 remains below the region’s average, but the reward score of 4.6 is also low. Whilst the country enjoys a deserved reputation as Africa’s pre-eminent constitutional democracy, several of its key institutions have gradually weakened over the past decade. Economic prospects are closely linked to the outcomes of the ANC’s national conference in December. The forecasted real GDP growth of 0.5% for 2017 is below population growth and certainly insufficient to reduce South Africa’s staggering 27.7% unemployment rate.
‘33’ Thrills Consumers
“33” Export Lager Beer took its ‘Friendship Experience Party’ to Onitsha recently as consumers were treated to amazing music, fun, and games. This followed similar parties organised by the brand in Lagos, Ibadan, and Uyo where consumers trooped-in in their numbers to enjoy “33” Export while being entertained by top music DJs and comedians including Comedian Bash, I go save, Shakara, Ajebo, DJ Kentalky, DJ Real and others. Portfolio Manager, Mainstream Lager and Stout Nigerian Breweries Plc, Emmanuel Agu stated that “33” Export Lager Beer is focused on highlighting the time-tested values of friendship hence its decision to create an atmosphere for which these values can be expressed. “Building on creating experiences, the brand is leveraging on the Friendship Experience Parties to engage with its customers and deepen its relationship with friends of the brand across the country,” he said.
Nigeria needs to build an economy that is not only resilient, but globally competitive. We have been focused on that since taking office, through our Strategic Implementation Plan
Minister of Budget and National Planning
Udoma Udo Udoma
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BUSINESSWORLD IMF PUTS GLOBAL COST OF BRIBERY AT $2TN ANNUALLY “A year after construction begins, it turns out that funds in the social service coffers are somehow no longer available for their original beneficiaries. “Over time, the money diverted from education or health care perpetuates inequality, and limits the possibility of better paying jobs and a better life,” she said. According to her, as this type of corruption becomes institutionalised, distrust in government grows and poisons the ability of a nation to attract foreign direct investment. The result is a negative feedback loop from which it is difficult to break free, she added. She added: “Millennials feel this reality acutely. A recent survey of global youth revealed that young people identify corruption, not jobs, not lack of education, as the most pressing concern in their own countries. “There is wisdom in this insight — since corruption is a root cause of many of the economic injustices young men and women experience every day. “Young people also understand another truth; corruption is not limited to one kind of country or economy — it can impact every nation. From embezzlement, to nepotism, to terrorist financing, corruption’s nefarious tentacles can take on different forms depending on the environment where it incubates.” AGAIN, DISCOS DENY REJECTING ELECTRICITY LOADS FROM TCN that transmission frequency constraints constituted the biggest impediment to the flow of energy to the Discos. “Of note are the Discos’ legitimate concerns of TCN’s need to stop the indiscriminate load dumping to impractical network areas that make distribution inefficient, unviable and impracticable for technical and commercial efficiencies, due to poor infrastructure construction, substandard materials and inefficient reckless approvals of grid extensions for political considerations and interference during the days of NEPA/ PHCN,” Oduntan stated.
Group Business Editor
Chika Amanze-Nwachuku AgriBusiness/Industry Editor
Crusoe Osagie
Comms/e-Business Editor
Emma Okonji
Capital Market Editor
Goddy Egene
Senior Correspondent
Raheem Akingbolu (Advertising) Correspondents
Chinedu Eze (Aviation) Linda Eroke (Labour) Eromosele Abiodun (Cap Mkt) Ejiofor Alike (Energy) James Emejo (Nation’s Capital) Obinna Chima (Money Mkt) Reporters
Nume Ekeghe (Money Market) Nosa Alekhuogie (Maritime)
NEWS
LCCI Boss Urges FG to Focus on Non-oil Export Sectors Ugo Aliogo, Nkechi Naomi and Ifediora Ujunwa The President of Lagos Chamber of Commerce and Industry (LCCI) Dr. Nike Akande, has called on the federal government to shift focus from a single product based economy to a non-oil export sectors in order to drive economic diversification. Akande who disclosed this weekend at a media briefing in Lagos, said economic diversification was needed for the economy to thrive and create jobs for the growing youth population. She applauded the government for its efforts in bringing out the economy from recession, stressing that it would impact positively on investors’ confidence in the economy, and it is also an indication that some government policies have positively impacted on the economy. The LCCI President explained that some of the factors that facilitated the exit from recession were improvement in oil prices, and oil output, improvement in the liquidity of forex market, commitment of government policy to ease of doing business and reform in forex policy. She noted that the positive trend witnessed in the stock market in the past few months, was largely due to the outcome of recovery in key macroeconomic indicators and a boost in investors’ sentiments, stressing that they were driven by policy implementations such as the creation of the investors and exporters window, increased
dollar liquidity and exchange rate gains. Furthermore she said that as the quality of local production improves, there would be demand for them locally and internationally, adding that with more patronage manufacturers would be encouraged to improve the quality of their products and competitive globally. Akande said: “For our country to sustain the momentum of recovery and the current positive outlook, we need to
ensure the following. There must be reduction in multiplicity of exchange rates, alignment of procurement policies at all levels of government to support domestic investment, investment policy that would protect domestic investors, tax policy which is investment friendly, interest rate policy which is investment friendly and trade policy that will reduce cost of operations across sectors. “It is expected that the recently released executive order should create a better
environment for good governance, procurement practices, contract execution and protection of investors’ rights. The executive orders should be fully enforced to improve the ease of doing business.” “We need to have success stories about Public-Private Partnership (PPPs) and concession entered by government so as to attract more private sector participation in the economy. We call on government to sustain the current reforms in critical sectors such as agriculture,
power, solid minerals and oil and gas. “We applaud the recent approval by the federal government to concession two airports- the Murtala Muhammad Airport, Lagos and Nnamdi Azikwe Airport Abuja. While the chamber is concerned about the multiplicity of exchange rates, we also note that the Central Bank of Nigeria (CBN) has been consistent in its intervention in the forex market. This has reduced exchange rate volatility in the market.”
A WARM WELCOME
L-R:Chief Executive Officer,Rand Merchant Bank Nigeria, Mr.Michael Larbie; Head of Advisory,Africa Finance Corporation (AFC), Mr. Fola Fagbule; Ag.Director General,Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah; and the Group Chief Executive Officer,Viathan Engineering Limited, Mr. Ladi Sanni, at the 2017 Finance Correspondents Association of Nigeria (FICAN) annual conference in Lagos...recently
NNPC Mulls Partnership with Danish Firm on Animal Feeds Production Chineme Okafor in Abuja The Nigerian National Petroleum Corporation (NNPC) has said it would partner a Danish firm, Unibio A/S Limited in a joint venture operation to produce animal feeds with the government of Denmark financially guaranteeing the project with 10 per cent equity finance. The corporation in a recent statement from its Group General Manager, Public Af-
fairs, Mr. Ndu Ughamadu, in Abuja, stated that the proposed joint venture company would be engaged in the production of animal feeds from Nigeria’s abundant natural gas resources. It explained that methane gas would be converted into protein within this process, and that it would have no negative impact for human consumption. According to the NNPC, Nigeria’s animal feeds industry was worth about N800 billion annually, and it would want
to participate in it. NNPC’s Group Managing Director, Dr. Maikanti Baru was represented by NNPC’s Chief Operating Officer, Ventures, Dr. Babatunde Adeniran, when the business delegation from Denmark led by the Danish Ambassador to Nigeria, Mr. Torben Gettermann visited. Baru was quoted as saying that such collaboration would impact on Nigeria’s ability to generate additional revenue, guarantee food security and
job creation for its people. Baru explained that the corporation was considering the partnership with the Danish firm to utilise the abundant natural gas resources of the country for the production of animal feeds as part of its diversification agenda into non-oil ventures like other national oil companies. “This proposal, though it is coming newly, has already started gaining traction in the industry and across the globe
especially in Europe. Nigeria being the first point of call in Africa, we can leverage on the opportunity to increase the revenue of the country through local food production,” Baru said. Baru also described the project as laudable, saying it was capable of making positive impacts on the country’s economy. Similarly, the statement quoted Gettermann as saying that Unibio had revolutionised natural gas conversion into animal feeds.
Aero to Save Nigerian Airlines N30bn with Local Maintenance Facility UgoAliogo, and OmotayoAjayi Nigeria’s oldest carrier, Aero Contractors would save Nigerian airlines about N30 billion annually which they spend on aircraft maintenance overseas, as the airline would now offer maintenance services to domestic operators up to C-check. Aero would offer maintenance services on Boeing B737 classics, which is the major aircraft type operated by many Nigerian airlines.
The maintenance facility was approved recently by the Nigeria Civil Aviation Authority (NCAA) and given certification to the airline as Aircraft Maintenance Organisation (AMO) for C-Check on the B737 Classic. At a media briefing in Lagos, the Chief Executive Officer of the Aero Contractors, Capt. Ado Sanusi, said that the approval represents a major milestone in their turn-around efforts, adding that the management has refused to be undaunted by challenges.
He also stated that the feat has so many far reaching benefits for the company, stressing that it would reflect directly in significant drop in maintenance cost for airlines in Nigeria and the sub-region as well as reduction in downtime for such checks. Sanusi added that it would also benefit the aviation industry, noting that the company would remain committed to the demands of survival with professional and business minded doggedness. He said: “It is important to note that the approval by the
NCAA came after completing a number of check list of items at the hanger as directed by the NCAA, including extensive expansion of the hangar space. This approval also adds to existing facilities such as wheel and brake, battery shop and upholstery. A normal C-check will cost an airline between $1.8-2million. There are strategic future plans of turning the compound and this is one of them. On the whole, we look forward to the greater fits as we bravely march out of our present downturn to a future
that is set to be even brighter than our past glory. Yes, it will take patience and hard work. But, we are determined.” Sanusi who took over the management of the company as CEO in February was said to have revived the airline, which was almost going under and he also reawakened the maintenance facility that hitherto was in comatose. Before the recent approval by NCAA, Aero had the capability to offer comprehensive maintenance on helicopters and Bombardier Dash 8 aircraft.
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NASC Issues IITA, ICRISAT Guidelines on Seed Certification Olawale Ajimotokan in Abuja The National Agricultural Seeds Council (NASC) has issued new regulations to the International Institute of Tropical Agriculture (IITA), International Crops Research Institute for Semi- Arid Tropics (ICRISAT), AfricaRice and other international agricultural centres, to ensure that all seed variants produced by them carry approved NASC certification tags as prescribed by the Nigerian seed law.Director General of NASC, Dr. Philip Olusegun Ojo issued the directive yesterday at a briefing in response to myriad of complaints by farmers nationwide against the supply of low quality seeds under the intervention funds managed by government funded agencies and international donor organisations. Farmers had alleged that criminal breaches of the National Seed Law was affecting and
eroding confidence in the sector and hampering the national food security. Some of the allegations were inscription of false information on label and use of trickery to mislead third parties on quality of seeds offered for sale, distribution for animals or human consumption of seeds treated with substance dangerous for consumption, import and export of seeds without the knowledge and permission of NASC and production and marketing of seeds without approval. Ojo decried the practice of some agencies, including those owned by government, to allocate seed supply contract to unregistered companies and in most cases far above their categorisation. He warned that while NASC would no longer condone the sharp practices by individuals and companies under various seed programmes, the industry will only be open to those recognised by National
Agricultural Seeds Act 72 of 1992. He said that henceforth, all containers shall be tagged in a manner clearly indicating the name and address of all producers and other details as entrenched in the national seed law. “Any packaging containing certified seeds shall bear a certification tag issued by NASC which shall be different from the label of the seed producer. And in accordance with Section 16, subsection 1, all import and export of seed shall be subject to prior declaration to NASC and the National Agricultural Quarantine Service (NAQS) and all seed export shall be accompanied by a phyto-sanitary certificate issued by NAQS,” Ojo declared. He threatened that the agency will strictly enforce the rules, carry out raids to stores and markets and will not hesitate to prosecute individuals or organizations that contravene any of the provisions of the subsisting laws.
NCMMRD Advises FG to Revatilise Moribund Steel Plants Kasim Sumaina and Ononso Nwafor-Orizu in Abuja The National Council on Mining and Mineral Resources Development (NCMMRD), has urged the federal government to speed up the revitalisation of the Ajaokuta Steel Company Ltd, Aluminium Smelting Company of Nigeria (ALSCON), and several moribund steel plants scattered across the country. NCMMRD, also urged the government to, as a matter of urgency, compile a nationwide inventory of miners, active mining sites, processing companies, personnel and machinery in order to create an all-encompassing data bank to be used in advising potential investors and for investment planning. NCMMRD gave the advice recently at the maiden edition of National Council on Mining and Mineral Resources Development, organised by the Ministry of Mines and Steel Development in Abuja, In a communique issued at the event of the event, NCMMRD directed the Ministry of Mines and Steel Development to start forwarding the list of licence holders in every state of the federation to their respective state governments on quarterly basis for proper documentation. According to the communiqué, the meeting which did a comprehensive review of the mining sector agreed that some major steps must be taken in order to increase the current growth being experienced in the sector. The meeting also agreed that there must be synergy between the federal government, states and local governments to ensure that the country takes full advantage of its vast mineral deposits. Other decisions of the council include the establishment of a forum of Commissioners responsible for Mineral Resources Development. This,
according to them, would encourage constant feedback engagement with the federal government and to monitor progress on areas that have been agreed. The Communique read: “Current effort at bringing Ajaokuta Steel Company Ltd and Aluminium Smelting Company of Nigeria should be invigorated and every effort should be made by Government to revive Moribund Steel Plants and promote private sector participation in Steel development. “A private sector driven Single Export Window Policy is recommended. Modalities should be put in place at every exit point and Ports in the country for Quantity and Quality analysis. This will monitor and record all mineral exports and ascertain appropriate royalties and certifications, including the installation of weigh bridges, credible international inspection outfits and the likes. This will also promptly address the mineral revenue leakage that occurs through the exit Ports. “There should be synergy among federal, state governments & local government areas through the instrumentality of Minerals Resources and Environmental Management Committee (MIREMCO) as provided for by Section 19 of Nigerian Minerals and Mining Act, 2007, the committee should be strengthened where it already exists and those dormant in every State should be reactivated. “There should be synergy between the Ministry of Mines and Steel Development and the State Governments to improve operational collaboration and enhance communication for effective execution of the Roadmap for the growth and development of the mining industry. “In issuance of the certificate of origin, the Federal and
State Governments should collaborate through MIREMCO in analysing and tagging of minerals at source with a view of determining appropriate royalties. “Adequate capacity building, funding and logistics support should be provided for the appropriate technical departments of the Ministry to ensure effective monitoring and enforcement in the mines fields. “Improved data collation and recording of Minerals production should be emphasized. This implies that the target set in the Roadmap for 2025 to contribute 3% to the GDP could be surpassed. “The curbing of illegal mining activities should be pursued continuously and existing framework to curb minerals smuggling should be activated by relevant agencies. “Existing audit and control mechanisms for monitoring of mineral exports to curb underdeclaration of mineral exports should be strengthened. “The repatriation of proceeds, royalties and taxes accruing from exported minerals through the appropriate government procedures and channels should be vigorously pursued; “Adequate capacity building, funding and logistics support should be provided for the appropriate technical departments of the Ministry to ensure effective monitoring and enforcement in the mines fields. “Concrete effort should be made by the Ministry of Mines and Steel Development (MMSD), the Federal Ministry of Environment and State Ministries of Environment on issuance of Environmental Impact Assessment (EIA) reports.” The next meeting of the council is scheduled for the first quarter of 2018. It is to be hosted by one of the states.
ELEVATING TO THE NEXT LEVEL Marie-Therese Phido
Five Strategies for Marketing Your Business When I go to meet with people to market my services and business, many of them tend to think I have been in business for much longer than I have been when I tell them how old the business is. They are like, “but you are everywhere”, and I see your name and business all over the place. When they say this, I smile in inside. Some of them that are closer than others, I tell them, “it is my marketing”. Many people know about Elevato and they know about me, because of the marketing I have been doing.
Many are surprised that the business started just nine months ago. So today, I will like to share some of the marketing activities I have used to ensure my business has share of mind with my customers and potential customers. But, please note that you should evaluate your business and its peculiarity and pick and choose out of the options below in terms of relevance to your business. Strategies to adopt: Social Media I wrote an article some months ago, titled, “Embrace Social Media, Or Die”, this statement becomes more pertinent every day. Many people scoff at the idea of social media. Some disdain the medium and I shake my head, because they are living in the past. Firstly, it is the cheapest means for getting your message across to your potential customers and the future. Secondly, it is not going away. Thirdly, other forms of connecting with your market or potential customers will continue to diminish with the passage of time. Fourthly, everybody is on it and you cannot afford to be missing in action. Start to post about your products and your services. Post anything that your audience will find relevant and be able to connect to you. Learn about your audience and your industry and communicate to them in the lingo that will connect but ensure that you uphold the values of your brand as you do this. Video Tutorials I started this process and have not been consistent, but it has been a lapse on my part, as it is a very powerful marketing tool to communicate with your audience. Creating video tutorials is one of the most effective ways to get word out on your services or products. According to R.L. Adams, “YouTube is the second largest search engine in the world behind Google. Whenever someone wants to learn something visually, they head there. You’ve likely done it yourself countless times. So just ask yourself what you could teach in
If you have not started blogging about your business, start now! You would be surprised that you can actually write. Again, I started blogging, when I conceived my business and wanted to share my knowledge and thoughts with my audience and customers and found out that I could actually string words together in an interesting way
your business that would help consumers solve some pain point? What got you into business in the first place?” Blogging If you have not started blogging about your business, start now! You would be surprised that you can actually write. Again, I started blogging, when I conceived my business and wanted to share my knowledge and thoughts with my audience and customers and found out that I could actually string words together in an interesting way. So, in addition to sharing my knowledge and expertise with my audience, I got the pleasure of discovering that I actually enjoyed writing and could try to be good at it. One way of doing this is to either use your own platform or use other people’s platforms, e.g. LinkedIn, Facebook, Quora, etc. These platforms have massive audiences, that you get immediate reach to your current and potential customers. However, ensure that you blog effectively. Provide relevant and valuable content otherwise you also end up hurting yourself and brand if your content is thin. Influencers In order to get the word out to a wider audience larger than yours to boost your visibility on social media when you have not built up the critical mass on your own platforms, you can leverage influencers. Ensure you use the best fit influencer for your business. If you are in the consulting or accounting business world, the kind of influencer you will need, will be different from an influencer of an entertainer, because the audience that each influencer has relates to the interest they push. Find the right influencer for your niche to ensure you are targeting the right audience to get the best results for the objective you want to achieve. LinkedIn This I am yet to try, but is on my marketing to do list. This is to use video and more visuals in my LinkedIn profile. I was talking to a very senior business executive today, who told me he saw the update to my profile on LinkedIn last week. He was pleased to tell me, “I go there but say nothing, I just look. In fact, my profile is about 20 years old”. In my mind, I was like “how smart can you be”. Please update your profile regularly. My first job as Elevato was from my LinkedIn profile. I have had headhunters reaching out to me all the time because of my LinkedIn profile. Upload your video. We are advised to use video to introduce ourselves and our business. Those who have used it, say it makes your profile a lot more personal. We are told that when it is done right, it can be produce powerful and effective results. If you have lots of connections on LinkedIn and you’re not really posting on there, start immediately. I post an article on LinkedIn, every week. You can reach a large audience, especially when your posts go viral. This is a great place to convey your entrepreneurial journey. Talk about your challenges and tell stories. The more effective your stories, the larger your potential reach when you go viral. You can also reach out to other businesses and collaborate with like-minded entrepreneurs on LinkedIn. It’s a great go-to resource for all things business and too many people overlook this. As you can see, marketing your business does not have to be so expensive. All it takes is some of your time and creativity, which we can all do. Get committed, take control and start marketing your business. ! – 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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Filling Nigeria’s Infrastructure Gap Obinna Chima and Nume Ekeghe write that Nigeria’s infrastructure deficit is a hindrance to sustainable economic growth but presents huge opportunities to investors Infrastructure financing plays critical role in promoting economic growth, improving standard of living, poverty reduction, enhancing productivity and in improving competitiveness. It also contributes to environmental sustainability. Clearly, Nigeria is currently faced with huge infrastructural gap that has hindered its desire to exploit its rich natural and human resources to stimulate 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. Indeed, the country’s infrastructure deficit has stymied its economic growth. The challenges of the absence of critical infrastructure continue to impact negatively on the cost of doing business, investment, and capital inflow into the country. To the acting Director General, Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwah, the total amount of funds required to provide quality infrastructure in Nigeria over the next six years is about $100 billion. Izuwah estimated that while about $60 billion would be required for the oil and gas sector; about $20 billion to revamp the power sector; $14 billion for road; and between $8 and $17 billion for rail tracks. Some other sectors that require huge investments include housing and highways, ports, airports, dams, bridges and tunnels, water and telecommunication. To this, Izuwah and other experts that spoke at the 2017 annual conference of the Finance Correspondents Association of Nigeria (FICAN) in Lagos at the weekend, stressed the need to evolve creative options to generate long-term finance to tackle Nigeria’s infrastructural challenges. The Nigerian Situation The ICRC boss pointed out that Nigeria fairs poorly on domestic savings, investments and government spending compared with her peers. Izuwah said the federal government’s decision to concession most of the port terminals was a step in the right direction. According to him, Nigeria’s huge gap in infrastructure has over the years, diminished economic growth and competitiveness. “At present, the value of Nigeria’s infrastructure is about 35 per cent of Gross Domestic Product (GDP), paling in comparison with 70 per cent for larger economies,” he added. Izuwah said between 2009 and 2013, Nigeria invested a mere $664 per capita per annum in infrastructure or three per cent of GDP, compared with an average of $3,060 or five per cent of GDP in developed countries. “Less than 56 per cent of Nigerians have access to electricity compared to 80 per cent for developed countries. This level of access translates to an average of 24 hours in a week. “For over 75 per cent of businesses operating in Nigeria, power supply is a major constraint. Of the over 10,000 MW of Nigerian power sector generation capacity, between 2,500 to 3,500 MW is available for over 170 million. “Compares unfavourably with South Africa that generates 50,000 megawatts for a population of about 50 million,” he added. Izumah pointed out that about 68 per cent of all roads in the country are in deplorable condition, with only about 18 per cent of Nigerian federal roads paved. “Experiences from other countries show that primary financing by banks and refinancing through bonds is the ideal model for infrastructure funding. “Through this model, the focus of commercial and merchant banks in infrastructure financing should be on providing funding up to the precommissioning stage of projects. “Given their strong project appraisal and monitoring skills, and their healthy capitalisation, banks are well placed to take up financing in the pre-commissioning phase, when project risk is the highest. “After commissioning, banks must refinance the debt (through bonds) to long-term investors. “Refinancing frees up bank funds and enable these funds to be deployed in new infrastructure
projects,” he added. The President/Chief Executive of the Africa Finance Corporation (AFC), Mr. Andrew Alli, also stressed the need for the federal government to create the right environment to be able to attract private capital for infrastructure financing. Alli pointed out that federal and state governments’ fiscal inflows are grossly inadequate to match the pace of investments required in infrastructure. Represented by the Vice President and co-head of advisory at the AFC, Fola Fagbule, Alli said that the Nigerian government ability to spend was limited due to its weak earning capacity. Specifically, the power sector according to him, recently privatised, was still significantly government driven with challenges of transmission, gas supply, tariffs, payment security, and operational limits which has left the industry in critical state regarding suitability for long-term investment. The overall effect of this according to the AFC boss is that Nigeria still struggles to provide an adequate supply of reliable power to its population of approximately 170 million people, as generation capacity was still about 3038 megawatts at March, 2017. “If we don’t have a cost reflective tariff, we will not have the kind of investment we want,” he stressed. Alli further expressed concern that despite its recent unbundling, “this industry is at a critical juncture in terms of privatisation, liberalisation and other conditions for long-term investment sustainability, both by public sector and private financiers. Both the public and private sides have fallen short of requirements to create a bankable and sustainable sector. ” Similarly, he said the transport sector was largely financed by the federal government hence limited by annual fiscal constraints. The end result in Nigeria Alli added was that roads and rail typically get the most attention, but funding is “poor and opaque.” Arguing that money is not the problem of infrastructure financing, Alli said other challenges that needs to be addressed include bad procurement processes, structural problems that make it difficult for investors to get value for money, funding structure, maintenance, tolling, among others. He also frowned on inadequate attention which Nigeria pays to meeting the needs of specific investors and projects already in progress, or on creating policy incentives that will spur investments. “Even though the Country has proven gas reserves greater than oil reserves and world class deposits of tin, substantial iron ore and coal resources, unfavorable policies around pricing and access to acreage have limited infrastructure investment and development for several decades in Nigeria,” said the AFC boss. In proffering solution to poor infrastructure
financing, the AFC president said there should be major overhaul in approach, for large ticket billion-dollar projects to work. “We need to reduce significantly, the level of opaqueness in public procurement. We must establish the framework for private contractors to borrow against a contract. Ministries must spend more time developing contract that private capital can relate with. On natural resource, he said, significant amount of acreage are in the hands of those who have no real interest. “Everyone involved in the privatisation exercise has some blame to carry. We need to achieve a reset of the privatisation programme. We are not seeing an empowered regulator that can enforce what is agreed. Enforcement will be painful on both sides, but that pain is necessary,” Alli stated. Also, the Chief Executive Officer, Rand Merchant Bank Nigeria, Michael Larbie, said clearer legal and regulatory framework, improved and efficient competitive bidding procedures, consistent sector policies, (e.g.tariffs regimes, rule of engagement), strengthened management of fiscal obligations and supportive regulatory environment are key in improving the quality of infrastructure in Nigeria. “Government must build a track record of public private partnership (PPP) performance to attract large sums of long-term funding from pensions funds and insurance.” He noted that deepening diversification of the Nigerian economy from oil, and development of higher value-added businesses, large consumer market and growing middle income families, were some of the opportunities in the Nigerian market. According to the RMB boss, resolution of poor electricity output would result in significant increase in productivity. Towards Better Infrastructure For Larbie, some of the key success factors required in improving the pallid state of infrastructure in the country include eliminating the financial constraints by building a track record of PPP performance to attract large sums of long-term funding from pensions funds, insurances, etc. In this regard, significant development of the capital market would be required. He also recommended priority access to forex for support of delivery of strategic public assets as well as the need for a central bank administered funds for infrastructure. He also suggested that the government allocates “the risk to the party best able to manage it. Political risk must be adequately covered, including policy changes through political cycles. “Construction, operational, demand/market risk should be borne by the private sector. Forex certain Force Majeure events risk to be shared.
“Government must ensure harmonious approaches among the government agencies and there should be clear role and responsibility with a capacity building for smooth implementation. “Government must allow for fair returns to private investors and provide budgetary support or guarantees when necessary,” he added. The RMB boss also called for clearer legal and regulatory framework, improved and efficient competitive bidding procedures, consistent sector policies, (e.g. tariffs regimes, rule of engagement), and strengthened management of fiscal obligations. Also, the Chief Executive Officer of Viathan Engineering Limited, Mr. Ladi Sanni, said there was need for more private capital to give infrastructure a facelift in the country. Sanni said: “Part of the problem we have in Nigeria is contract sanctity. The judiciary has a role in interpreting the legal framework. Government needs to demonstrate that private investors can go in to long term investment with them. “Government bonds limits investment into high risk power project. We would like government to look at the issues of infrastructural bond.” Izuwah who advocated increased PPP in the country, said private capital sanities corruption. Citing case studies in India, Kenya, South Africa, and even Zimbabwe, Izuwah said Nigeria requires stable, multi-year funding mechanisms. “PPPs cannot by themselves bridge the gap. Government spending needs to be more smartly deployed, to achieve the best value for money in any given project,” he added. He however said there were a number of major policy constraints to private investment inflows into infrastructure in Nigeria, broadly categorised into three areas: tariffs and regulations; public procurement approach and investment climate. According to him, private capital is a force for good, saying a number of factors prevent Foreign Direct Investment (FDI) and cause diversion of capital to other countries where the investment climate is more favourable. Political will, according to him remains key to ensuring appropriate tariffs across sectors and projects, adding that most sub-sectors are still not open to investment specially rail and roads . He added: “Enhancing the investment climate and clearing roadblocks to investor entry is one major area where FGN can make a direct, near-term impact. “We need a national infrastructure acupuncture plan. We need to choose the areas to put the pin. If we are not careful, our factor endowment can become a problem. Our total broad money is 20 per cent of our GDP. “Government money is 20 per cent of our GDP. When you combine logistics and lack of energy, your productivity goes south. A developed country is not where the poor has a car, but where the rich use public transport. Time waits for no one, so the concept of African time makes no sense. Transforming Nigeria is doable.”
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Deepening Stock Market Patronage via Investor Education The Nigerian Stock Exchange is stepping up efforts to ensure more investors patronise the capital market by introducing new initiatives and investor education, writes Goddy Egene One of the reasons for the high volatility of the Nigerian stock market is the low level of domestic investors. Despite the huge population of the country, those who invest in the market remain very low. While the country boasts of a population of over 160 million people, those who invest in stocks are less than five million. Although the level of domestic transactions increased by 42.1 per cent from N355.2 billion in the first half of 2016 to N505 billion in 2017, stakeholders said there is more work to be done to raise the bar. This low level of participation not only inhibits economic growth but exacerbates the silent crisis of inadequate retirement savings Whereas capital the market is becoming increasingly accessible to many retail investors with the advent of new technology and complex financial products, many of these products have proven to be difficult for financially unsophisticated investors to master. However, there is growing evidence that household stock market participation has significant effects on savings and on the financial development and performance of an economy. Individual participation in the capital markets is limited and quite heterogonous both among and within several countries. It is evident that one of the barriers to increasing participation of retail investors in the Nigerian capital market is low financial literacy and education. Today, many potential investors simply do not know how to access the market to invest in securities. The role of financial literacy in changing this narrative cannot be overemphasised. It goes without saying that financially literate investors are knowledgeable about opportunities in the capital market and are therefore in a better position to make informed investment decisions. So, greater awareness about the capital market is required on the part of retail investors to evaluate the choices available to them. As part of efforts to boost capital market literacy, the Nigerian Stock Exchange (NSE) recently launched a knowledge platform, XAcademy, which offers bespoke capital market training programmes to equip individuals who will lead and transform businesses for sustainable growth. Speaking at the launch, the Chief Executive Officer of the NSE Mr. Oscar Onyema, said: “X-Academy would help in strengthening financial literacy and enhance investment in the capital market. It will offer a wide range of courses geared towards bridging the knowledge gap of dealing members, issuers, investors and the general public about products and services of the capital market”. He stated that the establishment of XAcademy is consistent with NSE tradition of pioneering far-reaching innovations within the Nigerian capital market. Onyema added that the product feeds directly into the National Financial Inclusion Strategy (NFIS) which was launched by the Federal Government of Nigeria in 2012 to reduce the number of adult Nigerians who were financially excluded, from 46.3 per cent in 2010 to 20 per cent by 2020. According to Onyema, X-Academy would provide individuals and businesses with a robust and effective array of training solutions that would ensure participants were abreast with trends in the rapidly evolving financial markets. “As a socially responsible organisation devoted to enhancing the fortunes of Nigerians and our investors, we are confident that participants of programmes offered by X-Academy will be better positioned to make informed financial decisions,” he said. Also commenting on the launch of the XAcademy, the acting Head, Human Resources, NSE, Mrs. Chinelo Chukwuma-Onwujei, said the exchange will continue to enter into strategic alliances and collaborations with domestic and international institutes and professional associations in developing and deploying structured programmes aimed at creating value for individuals and businesses
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while delivering superior performance. “We will also continue to leverage on our affiliations and membership of international bodies to promote the programmes of the Academy and attract participants from across the globe to subscribe to them and further project X-Academy as the learning destination of choice for capital market programmes and financial literacy education,” she said. The programmes offered by X-Academy are facilitated by seasoned and certified subject matter experts with both domestic and international exposure to practical experience. These programmes are built around six broad themes, which include: Listings and Trading on the NSE, Products of the NSE, Market Data and Technology, Financial Education, Corporate Governance, and Risk Management and Compliance. Between June 12 and 15, 2017, NSE via the X-Academy, held a workshop to train
As part of efforts to boost capital market literacy, the Nigerian Stock Exchange (NSE) recently launched a knowledge platform, XAcademy, which offers bespoke capital market training programmes to equip individuals who will lead and transform businesses for sustainable growth
corporate lawyers and risk managers on the Legal and Risk Aspects of Derivatives and Counter Party Clearing (CCP)Transactions in preparation for the launch of derivatives in Nigeria. The training was designed to provide participants with a broader understanding of the concept of derivatives from the two main perspectives of Exchange Traded Derivatives (ETDs) and over-the-counter (OTC) derivatives. Also, in July 26, 2017 and August 02, 2017, NSE via the X-Academy, held a workshop on the process of listing a company on the NSE and Enterprise Risk Management. The workshops provide the participants with upto-date knowledge on the NSE listing process and a Practical guide to the development and implementation of enterprise Risk Management respectively. In continuation of its efforts to deepen retail investors’ participation, the NSE last week organised another investor clinic to educate capital market stakeholders on ‘The role of Dematerialisation, Direct Cash Settlement and E-dividend in the development of the Nigerian Capital Market.’ The investor clinic was targeted at sensitising the investing public and brokerage community of contemporary initiatives in the market. That edition of the clinic shed light on the importance of dematerialisation as a necessity in the trading of shares. Participants were also made to understand the advantages of direct cash settlement and e-dividend processing in the consolidation of returns on their equity investment as well as the overall benefits to the Nigerian capital market. Speaking at the event, the Executive Director, Market Operations and Technology, NSE, Mr. Ade Bajomo, said: “The NSE investor clinic brings to the fore the importance of dematerialisation in ensuring improved market velocity and integrity as well as the role of direct cash settlement in enhancing investor confidence by ensuring that proceeds from the sale of securities are remitted directly into investors’ accounts. He stressed the importance of e-dividend in not only reducing the perennial issue of unclaimed dividend
growth, but in ensuring that investors derive the full benefits of their investments by having their dividends paid directly into their bank accounts as soon as these are disbursed by issuers, regardless of whether these are savings or current accounts.” According to him, at the NSE they are committed to improving overall financial literacy and inclusion in the country, and ensuring we implement efficient processes that provide investors easy and intuitive access to grow their wealth. “This commitment is expressed in the various initiatives undertaken by The Exchange. In 2016 alone, we executed over 200 free capacity building workshops, aimed at enhancing investor understanding of the workings of the capital market. The multiplier effect of these workshops are phenomenal, as over 25,000 participating investors have been equipped to make better investment decisions,” Bajomo said. Over 200 participants attended the event which had seasoned and certified subject matter experts, such as Director, Capital Market Development, Securities and Exchange Commission(SEC), Mr. Henry Rowlands, CEO, United Securities Limited, Mr. Seyi Owoturo, and Operations Manager, Market Operations, NSE Mr. Kenneth Nwafor as facilitators. Market stakeholders opined that the NSE, SEC and other stakeholders need to sustain investor education so as to deepen the patronage of the market by retail investors. “While the NSE should be commended for the series of investor clinics and education to expose investors to the capital market, more efforts should be put in so as more investors see the reasons to key into the market and enjoy the numerous,” Moses Igbrude of Independent Shareholders Association of Nigeria said. He said there is the need for regulators to work closely with shareholders association to reach more investors. “I believe, changing its strategies and working with shareholders’ associations will reach more grass root investors and eventually deepen market patronage,” he added.
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Curbing Building Collapse through Builders’ Insurance Ebere Nwoji examines the recent move by the Lagos State Government to make the builders’ insurance policy compulsory to stem the rising incidence of crumbling buildings in the state The Lagos State Government recently intensified efforts to check rising incidence of building collapse in Nigeria as well as ensuring that where it occurs, victims are provided with necessary mitigations against associated huge losses. The state did this through recent move to enforce compulsory builders insurance on owners of buildings across the state. It also established a safety institute where stakeholders in construction work can be trained and certified to prevent frequent cases of collapse buildings in the state. Lagos has in recent times recorded the highest number of building collapses. The Director General of Lagos State Safety Commission, Hakeem Dickson, who disclosed this at a press Conference held as part of preparation for the ‘Naija Safe Awards 2017’, organised at Alausa, Ikeja, said the state government would synergise with a consortium of insurance companies and the National Insurance Commission, (NAICOM) to achieve this. Dickson was disgusted with the rate at which Lagosians pass blames on the state government whenever there is incidence of building collapse especially for not compensating victims. He was of the view that if Lagosians embrace building insurance policy, it would save them from untold hardship, losses and hopelessness associated with unforeseen emergency situations,stressing that insurance companies have the financial capabilities to compensate and pay claims to victims of disasters than government. This decision by the state government is in line with long standing crusade by both the insurance industry regulator, NAICOM and the umbrella body of insurance underwriters, the Nigeria Insurers Association (NIA) and other stakeholders in the industry on enforcement of compulsory insurance nationwide. They have for many years been agitating for implementation of sections of 2003 insurance Act on compulsory insurances. Builders insurance, especially public buildings and buildings under construction is one of the compulsory insurance policies stipulated by insurance Act of 2003. Its enforcement since then has been lying low until in 2008, when NAICOM in collaboration with the industry operators kicked off campaign on the enforcement in the six geopolitical zones of the country. The expectation was that by now, everybody would have embraced this policy and all buildings in Nigeria covered by insurance policies but this has not happened for lack of enforcement. While insurance underwriters look upon NAICOM as government agency charged with the responsibility of doing that, NAICOM, on its part looks upon federal government for empowerment and deployment of its various enforcement agents for that purpose. The Commission is also looking forward that the proposed amendment of 2003 Insurance Act would vest on it the necessary powers for enforcement and punishment of offenders. The compulsory insurance policies slated by the commission for enforcement include statutory Group Life Insurance as required by Section 9(3) of the Pension Reform Act, 2004. Employee’s Compensation (which replaced Workmen Compensation) as required by Section 33 of the Employee’s Compensation Act, 2010. Occupier’s Liability Insurance as required by Section 65 of the Insurance Act, 2003. Motor Third-Party Insurance as required by Section 68 of the Insurance Act, 2003. Builder’s Liability Insurance as required by Section 64 of the Insurance Act. Health Care Professional Indemnity Insurance as required by Section 45 of the National Health Insurance Act, 1999. Section 65 of insurance act of 2003, states
Akinwunmi Ambode
that every public building shall be insured with a registered insurer against the hazards of building collapse, fire, earthquake, storm and flood. The act defined public building as including tenement house, hostel, and building occupied by a tenant, lodger, or licensee. At the flag off of the enforcement in Abuja, insurers described the exercise as the best thing that has happened to the industry projecting that at least it would yield the industry as much as N10 billion premium annually if effectively enforced . Indeed, considering the number of buildings in major cities in the country where there are more public buildings than in the villages, one would conclude that the builders insurance holds much opportunity for the insurance industry and is capable of tripling the projected amount by the insurers. But instead of this, the policy is being affected by a lot of issues that have hampered its successful enforcement. Among the issues as pointed out by the Managing Director of Niger Insurance Mr. Kola Adedeji are inadequate and ineffective frame work for insurance industry. According to him, insurance law makes
While insurance underwriters look upon NAICOM as government agency charged with the responsibility of doing that, NAICOM, on its part looks upon federal government for empowerment and deployment of its various enforcement agents for that purpose
provision for NAICOM as the regulator to enforce the insurance laws but provides no means of enforcement against the public. According to him, the commission lacks the power to arrest law breakers in the industry. According to the Niger insurance boss, whereas section 17 of the 2003 Act on third party motor insurance empowers the police to ask any one driving a motor vehicle to produce his or her certificate of insurance and section 40 of the workmen’s compensation act gave the minister of labour power to enforce the compulsory insurance provision of the act. In the case of compulsory building insurance, there is no separate enactment for compulsory insurance of public buildings. He noted that this inadequate legal framework makes it completely difficult to enforce the provisions. He therefore suggested a separate act of parliament for each of the compulsory insurance policies adding that each of the acts would provide relevant enforcement agencies through the benefits on the long run accrue to the insurance industry in form of increasing patronage and growth. He particularly suggested the empowerment of all states and physical planning authorities for the enforcement of the act. ‘’It is equally important to note that the provisions for insurance of public buildings even as they are in the insurance act are quite confusing, the law provides that either the owner or the occupier of the premises can insure public buildings’’, he noted. Pointing out its other pitfalls, Adedeji queried: “The policy is meant to cover legal liabilities of either owner or occupier at what point in time does the occupier have legal liabilities or insurable interest in the building he or she is occupying? Despite these pitfalls, Lagos State government have taken the bull by the horns to enforce the law by ensuring that owners of buildings in the state put in place insurance cover for the third party. The state government has already set up enforcement and monitoring team to ensure compliance. Members of the team, THISDAY gathered were selected from insurance practitioners
and outside insurance as the government was disgusted with high level of abuses by environmental workers in the state. But Lagosians who commented on the development expressed diverse opinions on the matter. While some said it is a good development, others said what Lagosians need is solution to problem of building collapses not compensation. They also feared that it will increase cost of building in the state which will in turn increase the already high cost of house rent in the state. Insurance industry observers said the decision by the state government is a good one but to make it more effective, the government should have used only the law enforcement agents to effect the enforcement. They argued that using the insurance operators for enforcement would not yield much result because the insurers themselves have often said they were handicapped in enforcing the policy because they find it difficult going into any standing building or building under construction and to ask for insurance policy paper. The insurers have always wished the law enforcement agents would be assigned to act on their behalf. The observers therefore want the state government to restrict the enforcement to security and law enforcement agents of government. At the lunch of the compulsory insurance in Abuja, the then Commissioner for Insurance Mr. Fola Daniel had explained that the enforcement was meant not only to boost the industry’s premium, but most importantly to protect lives and properties which are often lost in building collapses. He had listed structures covered under the Act to include all buildings occupied by government ministries; extra-ministerial departments; statutory bodies; tenement houses; hostels; lodges; or licences and any building to which members of the public have access for the purpose of obtaining educational or medical service or for recreational purposes or for business transaction. Apparently, the industry regulator hoped to use the proceeds from the compulsory builders insurance to transform the industry into trillion naira market this year from below N400 billion currently. Daniel, had said that the trillion naira market transformation of the industry projected by his regime in NAICOM was based on the assumption that if all the houses and motor vehicles in Lagos and Abuja alone were insured, the figure would be met. Section 64 of Insurance Act of 2003 makes mandatory the insurance of buildings under construction where more than two floors are envisaged. The section says that insurance must cover the liability of the owner of the building in respect of the negligence of his servants, agents or consultant. Section 65 of the same Act makes the insurance of public building mandatory. Section 65 (4) of the Act specifies that 0.25 per cent of the premium collected is to be paid into a Fire Services Maintenance Fund to be administered and disbursed by NAICOM for the purpose of providing grants or procurement of equipment to institutions engaged in fire fighting services in the country. The Act also provides that where there is a violation of this order, which derives from the provision of Sections 64 and 65 of the Insurance Act 2003, such offenders are liable to three years’ imprisonment or a fine of N250,000 or both. Also, the law prescribes a fine of N100, 000 for a tenant or owner of such insured building in respect of loss of, or damage to property, or bodily injury or death suffered by any user of the premises and third party but it failed to state the right or power of the NAICOM to punish any offender.
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Chartered Insurance Institute Partners Babcock University to Establish Insurance Dept Ebere Nwoji The Chartered Insurance Institute of Nigeria has promised to support Babcock University in Establish Insurance Department in the University. The institute said that this is part of its commitment to increase the insurance industry’s manpower with new generation of Nigerian youths. The institute’s president, Funmi Babington-Ashaye, made
the pledge when the council members of the University led by its Deputy Vice chancellor, Management Services, Professor Sunday Owolabi, visited the secretariat as part of the process to fine-tune the plans. She said the institute, which currently has about 5000 qualified and student members is committed to raising more professionals for the industry, stating that having the department and instituting
Insurance as a course of study in the universities, polytechnics and at secondary school level is a sure way to catching them young. Babington-Ashaye, assured the university that the institute would provide the necessary guidance to development of appropriate curriculum, which will enable students of insurance of Babcock University have easy process of qualifying as associate members of the institute, with
some course exemptions. She said that the potential for employment and career progression for graduates of insurance in Nigeria is huge, as the industry is a growing industry whose growth potential is yet untapped. According to her, the present major pursuit amongst other objectives of the institute is the promotion of insurance education and awareness creation across the nation.
“This informed the institute’s decision to make overture to and partner with Babcock University for the commencement of a degree programme in insurance.” She further stated that the choice of Babcock University was based on the institution’s antecedents and the provision of qualitative education in Nigeria. Professor Owolabi in his remarks, appreciated the institute for extending the
the hand of fellowship to the university, stating that the institution is committed to making the project a reality. Owolabi, said the insurance department, will be in the Universities Banking and Finance Department, where it will be nurtured to a full Department in the University, assuring the institute that its choice of Babcock, will add value to it and the insurance profession in Nigeria.
Linkage Assurance to Provide Succour to SMEs Ebere Nwoji Against the backdrop of incessant demise of small and medium scale businesses in Nigeria, Linkage Assurance Plc is planning a survival strategy for SME operators through the evolution of a comprehensive insurance product tagged,‘SMEComprehensive Insurance Plan’. With the product, the company said it is committed to helping small and medium enterprises survive business challenges and grow into the future. The company, through the SMEComprehensive Insurance Plan’ provides financial protection to small and medium sized businesses against an array of insurable risks in order to ensure their continuity. Explaining the relevance of the product, Managing Director of Linkage, Dr. Pius Apere, said: “Linkage Assurance Plc’s SME comprehensive Insurance allows business owners to run their companies without having to worry about unexpected events that can slow them down or
bring them to a complete halt.” “Whether it is water damage from leaking pipes, money lost in transit theft, or a fire at a warehouse, these are liabilities that cannot always be anticipated. Linkage Assurance Plc provides you the confidence you need to keep moving with the knowledge that your assets are covered from loss and other legal liabilities. The Plan is available with five different optional sections and flexible enough to cater for the insurance needs of SMEs across diverse sectors of the market,” he said. According to Apere, Linkage Assurance, understands that Nigerian SME businesses operate in a tough, rough and often fast changing harsh economic environment. “SME businesses are still held to the same standards of corporate governance, employee welfare and liability as the larger companies and they often have to manage their risks with fewer resources and less time to spare on distresses other than those relating to day to day business.”
FMBN Seeks Partnership with FIRS to Enhance NHF Scheme AdedayoAkinwale in Abuja To get non-contributing Corporate Organisations to key into the National Housing Fund Scheme, the Federal Mortgage Bank of Nigeria (FMBN) has sought for partnership with the Federal Inland Revenue Service (FIRS) by accessing its database to obtain list of corporate organisations in the country. The Managing Director, FMBN, Ahmed Dangiwa, during a courtesy call on the Management of the FIRS in Abuja noted that the data is required by FMBN to expand its client base, boost NHF collection and increase the Bank’s liquidity in order to provide long term housing finance to Nigerians. According to a statement issued in Abuja, he said the courtesy call was also part of the efforts of the FMBN to reach out to its customers to sensitise them on the activities of the bank and the benefits of the NHF scheme, which aimed at providing decent and affordable housing to low and medium income group at soft interest rate of 6per cent. He however lamented that the
reluctance by some corporate organisations and state governments to deduct and remit 2.5per cent of basic salary of their workers to the FMBN was having adverse effect on the operations of the FMBN and the NHF scheme, adding that FMBN is presently collaborating with relevant government agencies to enforce compliance. The Managing Director explained that, “some of the products market by the FMBN to include Cooperative loans, Rentto-own, Home Renovation Loan and the National Housing Fund Loan. To enhance the affordability status of borrowers, the bank recently reviewed downward the personal equity contribution.” Responding, the Executive Chairman of FIRS, Mr. Tunde Fowler, assured FMBN of his readiness to partner with the FMBN in meeting its mandate, while also promising to allow the Bank access FIRS database to access list of all corporate organisations with a view to boosting the Bank’s NHF collection.
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MAKING MORE MILLIONAIRES
L-R: Chairman Promo Committee/Regional Bank Head, Apapa, Obaro Odeghe; Executive Director, Shared Services & Products (EDSS&P), Chijioke Ugochukwu; Head of Savings, Janet Nnabuko; Chief Operations & Information Officer, Gbolahan Joshua, all of Fidelity Bank Plc at t the press conference on its new savings promo tagged ‘Get Alert In MillionsPromo Reloaded held in Lagos … recently
Kaduna Disco Generates N1.7bn in Sokoto in Eight Months Mohammed Aminu in Sokoto The Kaduna Electricity Distribution Company (KAEDCO), Tuesday said it generated about N1.7 billion in Sokoto state from January 2017 till date. Speaking in an interview with THISDAY in Sokoto, the Business Development Relations Officer of the company, Abubakar Ibrahim Hashim, stated that the amount was recorded in the state in the past eigh months. He explained that the company generates between N200 million and N220 million in the state monthly. Hashim disclosed that the residents consume energy worth between N500 million and N600 million monthly but pay N200 million to the company. He however, lamented that the major issue in terms of revenue generation, has to do with the inability of consumers to pay their electricity bill. “Our monthly target in Sokoto state is about N600 million but we generate between N200 million and N220 million monthly. In fact, the highest was N260 million in March 2017 and this is our greatest challenge.
“That is why we want to provide pre-paid meters to all our customers for us to have the accurate energy provided to consumers. I believe that doing this will go a long way in improving our revenue. “I can tell you that we don’t even generate 50 percent revenue of what is consumed in Sokoto. The investors are really complaining because of this and up till now they are still operating at a loss. They are yet to break even,” Hashim said. He stressed the need for energy consumers in the state to endeavour to pay their electricity bills on time to enable the company provide better services for them. Hashim also dismissed reports that the state water board was unable to provide water to some parts of the Sokoto metropolis last week due to power outage. He insisted that the recent water scarcity in some areas in the state capital was not as a result of epileptic power supply. According to him, the state water board is a major customer of the company and as such the priority of KAEDCO is to ensure adequate electricity for their use.
Unity Bank Disburses Over N24 billion to Farmers Nume Ekeghe In its bid to promote agribusiness, Unity Bank has effectively keyed into various intervention funds by the federal government and Central Bank of Nigeria (CBN) to boost Agriculture thus emerging as one of the leading players in the industry driving the intervention schemes to the tune of N24 billion. The bank said in statement that its commitment towards participating in the on-lending schemes was borne out its belief in pursuing benefits of greater financial inclusion and reaching out to greater number of farmers all around Nigeria initially excluded with financial services, all of which is made possible by the Bank’s deep knowledge of rural economy. The bank’s Head of Agribusiness at Unity Bank, Mr. Olugbenga Emmanuel Adelana, said: “It is understandable why the Unity Bank is making inroads and being reckoned with when it comes to disbursing the intervention funds. The key beneficiaries which the intervention programmes are designed for ply their agribusiness mostly in the rural areas and this is a space that Unity Bank has not shied away from. “Unity Bank is therefore unleashing the strength of its business model and placing its structures at the disposal of
the intervention schemes in its bid to support government’s key initiatives to drive the growth and transformation of Nigeria’s Agricultural economy.” Unity Bank is currently the 4th largest provider of single digit interest loans (9% max) to Agribusinesses under the CBN’s Commercial Agriculture Credit Scheme (CACS); with a CACS loan portfolio of over N24billion it states. CACS is a sub–component of the Federal Government of Nigeria Commercial Agriculture Development Programme (CADP) and it is aimed at promoting commercial agricultural enterprises in Nigeria. The scheme targets the promotion/production of cash crops, food crops, poultry, livestock, aquaculture, processing, storage, farm in-put supplies and marketing for agricultural commercial enterprises with asset base of N50million to N100million. Unity Bank has been consistent in its support to farmers. In June, 2017, it executed a channel partnership agreement with Nigerian Incentive Based Risk Sharing System for Agricultural Lending, NIRSAL, to provide a platform for disbursement of loans to farmers; targeting over 9,000 farmers for Rice, Maize and Wheat across seven states of Kebbi, Zamfara, Jigawa, Kano, Bauchi, Kaduna and Adamawa States.
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EDUCATION Onoja: Education has Been Politicised in Nigeria
Sylvester Momoh Onoja is a former Commissioner for Education in Kogi State and the first northerner to serve as principal at the King’s College, Lagos. In this interview, he expressed concerns over the falling standard of education in Nigeria. He believes that if politicisation of the system is stopped, the country will return to its glory days. Martins IďŹ jeh brings excerpts: What is your assessment of the status of education in Nigeria? We have witnessed a steady decline and politicisation of education in Nigeria. Education has been politicised. The most competent people are not appointed to manage the sector. Only the most accepted are the ones accepted. The quality of graduates at all levels has been most despicable. Professorship has been watered down. Those who were senior lecturers have become professors. Professors have become a chieftaincy title. The only thing that most of them professes is actually ignorance. Some of them have become vice-chancellors. How can you have 68 private universities when you cannot have 68 per cent passing basic certificate examinations? Who are those in the universities? Who are those teaching there? In Nigeria’s education sector, quality is suffering at the expense of quantity. It is saddening to note that there are actually universities in the neighbouring African countries that were built only for Nigeria. There is one in Benin Republic where Nigerians go to obtain degrees within six months. We have another in Niger Republic where they go for nursing. What are the obvious effects? The effects are already showing, which is why we talk about our graduates not being employable. How many of the so-called graduates of Nigerian universities can be employed? How are we competing in the world? We are now supposed to be preparing children to be citizens of the world. Even on this count, how are they performing outside? How many lawyers, doctors and other professionals are worth their salt? How many police stations can you go and find a desk officer who is able to take your statement effectively? How many people can read and write in this country? You go to schools there are no teachers and a lot of the students are passing exams with excellent grades. Examination malpractices are on the high in Nigeria now because even the teachers in the classrooms do not know the answer to the questions they set. They hire mercenaries to come and tell them. Are we on the path to recovery at all? In education the effects are in the long-term. The people who know are still around. But unfortunately they are being replaced by people who don’t know. Worse still malpractices have made a 360 degrees turn in Nigeria and those who benefited from it have become lecturers now. Those who do not know are teaching those who should know. So you can only imagine where that leads us as a country. The emergence of private schools in Nigeria has been viewed differently by various people. In Nigeria now, if a tomato seller is not selling well in the market he or she will go and establish a school. Character is developed in schools from what brings people together. Many of the schools around do not have basic recreation facilities that would enable them to be developed to better human beings. How do you know if a child is a bully when he is not interacting with others? Today schools are established strictly for money making. The classrooms are designed to seclude the students from interacting with each other. They have air conditioners and the toilets are enclosed. So they hardly mingle with each other. How are you going to determine how a child behaves among others in that kind of environment? Extra curricula activities are no longer done in schools. You go to school for five years and you do not have time to interact with your students. There are no playing fields in schools.
Onoja
The children belong to Arsenal, Chelsea and Barcelona. They only play their football now on the television. How can a child develop good character with this kind of trends? How has the poor status of basic education in Nigeria affected the quality of those who transit to higher schools? If you don’t get it right at the basic level, there is nothing you can do. That is why it is called basic. Even the character aspects are being abandoned. We now have private schools that guarantee A’s. They will also now arrange that the child passes UTME and then arrange that they go into another private university and come out as empty as they went in. Some become PhD holders. I have three definitions of categories of PhDs in Nigeria. One, there are those who worked for it and came out as Doctors of Philosophy. There are those who are sent to school, they passed through school, they were not prepared for life. They passed and when they come out of school into the society they are poor. Nigerian society does not like the poor. So they are harassed and depressed. So our education system is turning out the Poor, the Harassed and the Depressed (PHD). The other category of PhDs are victims of the lowered standards of teacher training and the polytechnic education. Who are those who go to these schools? Before they go into the polytechnic, they already have PHDs. So they go in with one or two credits put together. They are the category of those who Pass High school with Difficulty (PHD). There seems to be a higher number of Nigerians seeking university admissions
however, learning at that stage has become even more difďŹ cult. Why is it so? There are no lecturers; no facilities to assist learning. There are so many distractions. It is difficult to study under the condition that our universities currently exist in. But we also hear of academic exploits and excellent feats by Nigerian students? One private university churned out a number of first class graduates in one graduation ceremony that is far more than whatever number the University of Ibadan, one of Nigeria’s pioneer universities of over 50 years has churned out for its entire duration of existence. How do you justify that? The education system is simply in bad shape. Does ASUU have a good reason for going on strike? ASUU has an excellent reason for going on strike. However, history has shown that such good intentions have always left the students worse off because immediately after the strike is called off, they go straight into exams and whatever they agitated for are not put in place. So they continue to churn out poor breeds of graduates who only would have done everything possible to pass exams. If they go on strike and make sure that the students are there to get the benefit of what they agitated for, then that makes sense. But what we have is a situation whereby you just push out thousands to graduate after a strike is suspended. You lower standards. How relevant are Nigerian universities to the society?
The only aim of most Nigerian universities is how to make money. The university or education as it were, is designed to prepare those who go through it for life and earn a living. That is why your degree certificate is given on the basis of character and learning. The Nigerian education system is not teaching them how to earn a living or even live because the values are gone. The westerners have gotten their education right. Corruption is behind all that we have seen. Which do you think is the best model of education for Nigeria? First of all, let those who know be allowed to run education. We should be able to specialise. Education ministry should be run like health, justice and others where the professionals are usually at the helm of affairs. It takes political courage for anybody to say that the minister of education must be an educationist. How do you bring an accountant to be the minister of education? Basic education is the key. Something is wrong with our basic education. Until we get that right, we will never get anything right. There is lack of continuity. One minister every two to four years will not help the growth of education in Nigeria. There is nothing wrong with the 6-33-4 system of education. Only that those who have the knowledge on how to run it are not there. It may have been given another name; it still remains what it is and the best model for our education. They say there is no money for education. The money you use for Hajj, the airports where no plane goes to, the monies used for building new government houses and other irrelevant projects are monies that could be used to turn-around the education sector.
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EDUCATION
NECO Certificates Now Globally Recognised, Says Okebukola Laleye Dipo in Minna A former Executive Secretary of the National Universities Commission (NUC), Professor Peter Okebukola, has disclosed that the certificates being issued by the National Examinations Council (NECO) is “now globally recognised.� NECO was established a couple of years ago by the federal government to serve as alternative to the West African Examinations Council (WAEC).
However several educational institutions and even students had initially been sceptical about the certificates issued by the examination body, but Okebukola said the negative view of NECO certificates is now a thing of the past. “NECO has improved significantly, NECO certificate is highly valued, it is now highly treasured at home and abroad,� he declared when he delivered the lecture ‘Global Competitiveness in Education: Implications
for Educational Assessment in Nigeria’, being the third in the series of lectures to be organised by the examination body in Minna, Niger State. Okebukola attributed the “global recognition� of NECO certificates to the quality of its assessment and the solid foundation laid for the examination body by its past and present registrars and staff, but advised that the level they have attained should be built upon. He however took a swipe
at some Nigerian universities describing them as “road side universities� and accused some of them of not having the required equipment and manpower to enable them compete favourably with their counterparts across the world. Okebukola also claimed that “academic corruption� is still very prevalent in many Nigerian universities, adding that plagiarism and other academic crimes are rampant
in these institutions. He said when he assumed office as executive secretary of NUC, he toyed with the idea of closing down some of “these roadside universities�, but was prevailed upon to drop the idea after being assured that they would improve. Okebukola also commended the Joint Admissions and Matriculation Board (JAMB), saying “the JAMB registrar is doing a good job.� In his remarks, the Minister
of State for Education, Professor Anthony Anwuka said a ministerial strategic plan built on 10 platforms to reform the country’s education sector is being implemented by the federal government. “The strategic plan envisages that if these pillars are addressed in accordance with outlined strategies and objectives, Nigeria’s education sector will not only be globally competitive, it will address the yearnings and aspirations of the people.�
StakeholdersValidate National Policy on Open Education Resources A total of 340 participants have considered, finalised and adopted the draft national policy document on Open Education Resources (OER) following a motion by a member and Advisor of the National Steering Committee on Open Educational Resources (NSC-OER), Professor Peter Okebukola. The participants included vice-chancellors, rectors, provosts, librarians and directors of ICT of Nigerian universities, polytechnics and colleges of education; representatives of national and international non-governmental organisations, embassies and tertiary education regulatory agencies in Nigeria [National Universities Commission (NUC), National Board for Technical Education (NBTE) and National Commission for Colleges of Education (NCCE)], among others, who had earlier received copies of the draft document for their inputs. With the validation, the document is ready for the approval of the National Council on Education (NCE) and Nigeria, hitherto missing from the world map of OER, can now take its place. The move by the stakeholders is aimed at addressing the dearth of learning resources in quality, quantity and currency in higher education in the country. Speaking at one-day stakeholders’ validation symposium held recently at the NUC, Abuja, the Minister of State for Education, Professor Anthony Anwukah, who declared the symposium open, recalled that the OER movement gained considerable visibility in 2001 when Charles Vest, the then President of the Massachusetts Institute of Technology (MIT), announced its intention to put all of its course materials online for the benefit of all. He said the decision resulted in the Open Course Ware (OCW) Project, which four years after, included over a thousand courses, adding that as a result of the initiative, Open Content Consortia are being formed by Higher Education Institutions (HEIs) across the world. The minister, who was represented by the Director, Education Support Services, Mrs. Justina Ibe, challenged participants to come up with beneficial, cutting-edge inputs,
which would add value to the policy. “Your contributions here will go down in history as the contributions that will help in charting a path for greatness for present and future Nigerians. I stand assured that with this special core of very experienced men and women that have distinguished themselves in various positions, we will together chart a course for sustainable educational development using OER as an instrument.� Earlier in his welcome address, the convener of NSC-OER and Executive Secretary, NUC, Professor Abubakar Rasheed, disclosed that Nigeria currently has about 585 tertiary institutions (universities, polytechnics, monotechnics, colleges of education, federal colleges of agriculture, colleges of health technology and vocational educational institutions) to serve a population of over 180 million. “It is crystal clear from the above that the problem of access to higher education in Nigeria continues to be a serious challenge and the need to redouble our efforts to address same cannot be over-emphasised. Inadequate access to tertiary education and enrolment of students in excess of the carrying capacity of the higher institutions has consequently remained a recurring decimal at the tertiary level. “The national policy on OER for higher education in Nigeria is government’s effort at ensuring a planned and deliberate approach in the development and improvement of quality teaching and learning materials, curricula, programmes and course design, as well as planning effective contact with students. With the development of this policy, government hopes to address the issues of access to quality higher education and enrolment of students in excess of the carrying capacity by existing higher institutions in Nigeria.� The convener explained that the policy is a concise document comprising the key elements of mission, vision, goals, its definition and scope, intellectual property rights and licences, curriculum design and material development. “It also includes OER in teaching and learning, capacity building, infrastructure and connectivity, quality assurance, implementation strategies and institutional arrangements,� Rasheed said.
L-R: OER/Commonwealth of Learning (COL) Consultant, Dr. Jane-Frances Obiageli Agbu; NSC-OER Advisor, Professor Peter Okebukola; NSCOER Convener, Professor Abubakar Rasheed; Deputy Executive Secretary, National Universities Commission (NUC), Mallam Ibrahim Dan’Iya; and Secretary, NSC-OER, Mr. Chris Maiyaki, at the stakeholders’ validation symposium on the Draft National Policy on Open Educational Resources
Institute Emphasises Value Reorientation, to Train 21,000 Youths by 2025 Uchechukwu Nnaike In line with its desire to produce resilient Nigerians who are eager to provide quality service marked by love, strength, faith, heart and might, the Institute for National Transformation (INT) has announced plans to train 21,000 Nigerians across all sectors by 2025, starting from January 2018. Briefing journalists in Lagos recently as part of activities marking the 10th anniversary of the institute, the DirectorGeneral and founder, Prof. Vincent Anigbogu said the move is aimed at bringing the nation back to the vision of the founding fathers. According to him, the dreams of the founding fathers of the country are embedded in the country’s national symbols- the anthem, the pledge, the flag,
the coat of arms, and the national motto. “Dissection of these symbols would reveal an undercurrent national theme and values which encapsulate the hope that should guide our national development agenda. “Unfortunately, these national values, which should form the foundation of national behaviour and developmental agenda, are violated with impunity by the same adults who should practice, teach and enforce them at home and at places of employment. As a result, the nation has become like a rudderless ship sailing without any clear direction for 57 years.� Anigbogu said the institute believes that societal change must be driven by national values which are: A people that are resilient and responsible; a people that can provide quality mentorship to their children
and provide for their collective success; a people that can live in peace, unity, and in prosperity; a nation where justice and the rule of law prevail; a people who have a sense of patriotism towards their nation; a people that have absolute trust in the God of creation to direct us in this great dream for a new Nigeria, among others He said the institute has developed and tested different training programmes inculcating these national values for different groups in the country, adding that for national transformation to take place sectors like schools, government and government parastatals, religious institutions non-governmental organisations, military and para-military organisations, business sector, among others must be affected. Anigbogu solicited the
support of the federal and state governments, the private sector, educational institutions and international organisations to raise funds for the training, adding that funds raised would be used to organise each training; house and feed INT teams and participants where applicable; provide honorarium for INT teams; develop and produce training materials, as well as audio and video CDs for participants, among others. On the dearth of quality leadership in Nigeria, Anigbogu explained that the lack of civility and propensity for corruption that brought Nigeria to the current level of quagmire cannot be repaired by the same mind sets that took it into it in the first place. He said the solution lies in training and re-training to create a mind shift for everyone in a leadership position.
Utomi Urges Students to Imbibe Leadership Qualities Funmi Ogundare A Professor of Political Economy and management expert, Pat Utomi has advised students to ensure that they acquire knowledge through reading and also develop a sense of service if they want to succeed in life. Utomi, who gave the advice while delivering a lecture titled ‘Leadership and Values’ at St. Gregory’s College, Lagos, said students have to begin to prepare early enough and begin with the end in mind. He said they have to imbibe
values and discipline and learn how to be interdependent. “You must set forth at dawn and live life in a way that you will arrive at your destination. The preparations for who you become in life starts very early. Success in anything you do in life is a formation of discipline.� He expressed concern that emotional intelligence seems to have been left out in the way people do things; this he said should be able to guide their thinking and behaviour. “People it seems want gratification without working
hard for it and corruption seems to be eating deep into our polity. If you don’t work hard, you are not likely to sustain progress. If you have personal discipline, you will think about the common good of all,� Utomi stressed. An old boy of the college and Chief Executive Officer, STB McCann, Sir Steve Omojafor in his paper ‘Ethos and Leadership’, recalled his days at the college when discipline and honesty were maintained by teachers and students. He stressed the need for the students to remain
steadfast in their ideals and have a plan on what they want in life. Omojafor expressed concern about the youths of today, saying that they want to get rich quick without working for it and have no respect for elders; and will also fight constituted authorities to a standstill. “We can rekindle our values starting from our homes, schools and communities and remain steadfast in our ideals. You may admire people but do not envy them. You should plan, think and be retrospective in your dealing.�
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Cogent Educational Policy, Vital for Industrial Revolution, Says Agbaje Driven by passion for the transformation of the education sector, the Director, New Hall International School, Lekki, Lagos, Mr. Biodun Agbaje examined the current national When ‘Your Child Wants To education curriculum, calling for the overhaul of the system. He Be Alone’‌ alright if this isn’t always the case. In children, said education provides the answer to the country’s quest for ‌it’s the inability to relate with others in socially acceptable ways gets teachers querying autism amongst other likely industrial revolution. Uchechukwu Nnaike reports problems. The diagnosis of autism is more popularly The global economy is undergoing major transformations, which are multidimensional, affecting the technological, economic, social, cultural and political development of human communities, particularly those of developing societies like Nigeria. Education is seen as a strategic instrument for social and economic transformation, hence all over the world, the focus of education has shifted to the development of the human capital required to meet present and future challenges of globalisation and the knowledge economy. There is no denying the fact that the Nigerian government recognises this and has consistently said the country’s economy could only be transformed and sustained through education that empowers the people and assures the technological development of the country. But Mr. Biodun Agbaje, the Director, New Hall International School, Lekki, Lagos, while lauding the government’s efforts in the education sector, said a lot needs to be done if the objectives must be achieved. He said the current national curriculum lacks the capacity to help achieve the nation’s quest for industrial revolution blaming it on bad implementation by those in authority. “The present national educational curriculum puts our country far behind international standard of education. The reasons for this are obvious and range from inconsistencies in the federal, state and local government educational policies, as well as poor budgetary allocation to the sector. These have culminated in poor national infrastructures, lack of modern teaching facilities, inadequate classrooms and non-conducive learning environment. Besides, well trained teachers and administrators are lacking in our public educational institutions.â€? “Everything points to the fact that we are not yet prepared to join the world in the quest for fourth industrial revolution until and unless our policy makers see education as a game changer and direct the nation’s resources to address these challenges urgently with high level of sincerity of purpose. The truth of the matter is that the seeming hope for the country to achieve anything close to industrial revolution for now lies with the private schools and New Hall International School fervently stands for this and very much equipped for this challenge.â€? He described the school as a new dawn in all-round child education with a customised curriculum to give an edge start to children in life from nursery to primary and the secondary education. Agbaje said the school was established to create the missing link between foreign and local system of education; provide a better alternative to wholesome foreign curriculum or the national curriculum by imparting knowledge through a broad and balanced curriculum, through an affordable alternative for those who desire international education curriculum within the country and to also encourage the awareness of moral, religious, political, social and environmental issues in the world. “Over the years, we strive to bring the best of international educational content to add to best of Nigerian curriculum which earned our earlier heroes like Professors Wole Soyinka, Chinua Achebe, Hezekiah Oluwasanmi, Aboyade Cole,
Agbaje among others the rightful place in the world stage in education. “We are also equipped to provide a solution and alternative to the dwindling quality of education in the country and offer a succour to those seeking overseas education in the country or desirous of quality education and can’t afford to go overseas.� Speaking on its curriculum offerings, the director said the school celebrates the diversity of its students and their interests by offering a college preparatory curriculum that is varied enough to create the desire to become involved in the learning process that will be seen by selective colleges and universities as competitive and credible. “The academic programme in our primary section is based on the Montessori method. Both the lower and upper school programmes strive to create in students a strong desire to become world citizens who have a sense of honour, discipline and compassion. “The school was set up to inspire students to work hard, take pride in their ability with appreciation of their cultural heritage and in doing this explore international affiliations and exchange programmes with the ultimate aim of exposing the students internationally.� Agbaje said the school is affiliated to two schools, one in the UK and one in the US. It also prides itself with exchange programmes with many international schools even as it is a British approved school. On how the school prepares students for the “future of jobs� challenge, he said aside the exceptional service that covers
academic, and extracurricular activities in line with its motto ‘Strive Ahead and Above’, students who passed through the school are normally equipped not just for their next educational pursuit but also for life. “We as a school work tirelessly to impart knowledge through a broad and balanced curriculum working effectively in the three areas of learning, the cognitive, affective and psychomotor of every child in our care. “With well-robust extracurricular activities to galvanise the psychomotor of students, we have a magnificent school sports hall that houses all our indoor games, basketball court, lawn tennis court, volley ball, hand ball, badminton and table tennis. The school also has a standard swimming pool, and ultramodern stadium almost completed with artificial grass. This helps in developing rounded children outside the outstanding performance in academics.� The school has been in existence since 2007 and has won many medals, prizes and accolades in all areas of service delivery with the most recent achievement being the first prize winner in the PZ Cussons Chemistry Challenge for secondary schools in Lagos State. In terms of corporate social responsibility, the school single-handedly constructed road from the estate gate to the front of the school. It also provided electrification of the street and most importantly currently running a scholarship programme for two indigent students valued at N2.5 million per student per annum.
made on the basis of behavioral assessments. A collation of your child’s teacher’s observations and of course yours, are crucial for these behavioral assessments. When therefore, your doctor suggests that your child has autism, your immediate reaction might be of panic, denial, fear, disbelief and the urge to seek repeat medical opinions. Autism is different in every child and could be a dodgy disorder to diagnose. Notwithstanding, there are a few key ways in which doctors identify autism in children. If your infant or toddler is showing any of the signs of autism, you should visit your child’s doctor immediately with your concerns. Autism occurs at a young age and can be detected around age two or three. Clear autistic signs are many times even noticeable much earlier. The first signs of autism are typically delays or regression in speech and communication. Another early sign is abnormal behavior in group play situations and other social situations. The first step to diagnosing autism is a thorough physical examination as well as a review of family history by a specialist. Although your regular pediatrician should be able to spot unusual behavior, you should want your child to be examined by a professional who specialises in autism and other similar disorders to ensure your child is properly diagnosed. The next step should include hearing tests. It is important to make sure that your child is hearing clearly. If you’ve noticed that he/she is displaying language and social skill delays, it could be that he/she is experiencing inadequate auditory sensations. There are two types of auditory tests. The first records the tones the child can hear. The other requires sedation and measures the brain’s response to certain tones. Of course, the first method is preferred, since it does not require any use of a sedative. After auditory testing, your doctor may encourage testing your child for Fragile X syndrome because this disorder often times goes hand in hand with autism. Your child’s metabolism can also be evaluated. To do this, your doctor would need their blood or urine sample. An MRI, CT or CAT scan can also be helpful in diagnosing autism. These days, many brain imaging analysis have revealed that there are differences in the grey matter between children who have and do not have autism. Available scientific literatures report that there are findings suggesting that children who experience the most severe autism, have the most profound brain structure differences. Using brain imaging is finding that specific networks within the brain that’s associated with social communication skills, have a peculiar structure in children within the Autistic Spectrum Disorder. Autism is difficult to diagnose and even more difficult to manage. There is mega useful information out there. You should begin to learn as much as possible about the disorder as soon as your medical practitioner identifies it. If you haven’t spoken with your doctor about the abnormal behaviour you’ve noticed in your child, do so immediately. By detecting autism early, you’d give your child a better chance at becoming a high-functioning individual with much more opportunities to access more social and life-skills. Omoru writes from the UK
IEDPU Congratulates New UNILORINVC Hammed Shittu in Ilorin The Ilorin Emirate Descendants Progressives Union (IEDPU) has congratulated the new Vice-Chancellor of the University if Ilorin, Professor Sulaiman Age AbdulKareem on his appointment. A statement by its National Publicity Secretary, Alhaji Salihu Abdulwahab said
the President, Alhaji Abdulhamid Addi, described AbdulKareem’s appointment as well deserved. According to the statement, “the union, on behalf of entire Ilorin Emirate prays for a very peaceful and eventful tenure for the new VC. The union as a major stakeholder wishes to assure him of our cooperation and support. “
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Babalakin Seeks Reformation of Education Sector The Pro-Chancellor and Chairman Governing Council of the University of Lagos (UNILAG), Dr. Wale Babalakin, has called for the reformation of the education sector, saying that it would improve all sectors of the economy. Speaking at a retreat organised by the Osun State University in Ede, Osun State, Babalakin said the country is at a crossroad and that its emancipation will be led by the reformation of the education sector, once its leaders are able to get the education system on the proper footing. “It will propel the other sectors of the nation and begin an unstoppable forward movement. It is unfortunate that a country with a population of about 150 million persons and the largest country in the whole of Africa has no tertiary institution that has any favourable rating in the world. “Various rating agencies have placed the most outstanding Nigerian university at number 800 or below in world ranking. It is acutely hurtful that even in Africa no Nigerian university is rated among the top 20. More
saddening is that once upon a time, Nigeria had universities that were highly rated in the world.� The pro-chancellor recalled a television programme where Professor Olu Akinkugbe, an outstanding academic and former Vice-Chancellor of the University of Ilorin and Ahmadu Bello University, said at a point in time, the University College Hospital (UCH), Ibadan, was rated as the fourth among medical institutions in the Commonwealth. “The significance of this is more appreciated when we realise that Commonwealth countries included the United Kingdom, Canada, New Zealand, Australia, India, Pakistan and Malaysia, and so what happened?� Highlighting the issues affecting the sector, Babalakin said: “The first is how do we fund the tertiary education system? A plethora of universities have sprung up in recent times. The federal government has created a number of universities. Almost all the states in Nigeria have their own universities. Many private concerns have also established universities. In
setting up these universities, I hope that these various bodies have a fair idea of the cost of running them. According to the Academic Staff Union of Universities (ASUU) quoting a National Universities Council (NUC) source, the average cost of achieving full accreditation for universities’ programmes in Nigeria is $3,000 that is today above N1 million. “In effect, a university with a population of, for example, 5,000 students should have N1million x 5,000, that is N5 billion as its resource base for running the university. Based on this calculation, it is certain that most of the universities in Nigeria are not well funded. More disturbing is the fact that it is very doubtful if the proprietors of these universities have the capacity to fund them even if they were willing to do so. We have to, as a matter of urgency, stop creating institutions that we do not have the ability to provide for.� He said universities must be funded from public and private sources, adding, “government alone cannot fund all the ex-
penses of creating a first rate university. Universities cannot depend entirely on the resources of the federal and state governments. All stakeholders in the education sector must harness their intellectual and other resources to create sufficient funding for tertiary education. “In order to make a university achieve the standards we seek, greater vitality must be introduced into the management of the university. Within the Nigerian laws today, majority of council members in the university are internal members; that is members chosen from within the academic personnel of the university. “This act of grace from the federal government and some other proprietors of universities must be complemented by a high degree of discipline and responsibility from the internal council members. The university administration, as a citadel of learning, must reflect truthfulness, scholarship and fairness in all its dealings. It cannot be a place where there are divisions based on ethnicity or governed by cartels.
Pupils of Gold Academy Nursery and Primary School, Oloke Asese Ogun State, on their first day at school after the long vacation
sunday adigun
Firm Unveils Science Teachers’ Reality Show Funmi Ogundare As part of efforts to keep Nigerian students across all public and private schools engaged and ensure that they refocus their attention more in the area of sciences, the Laboratory Supplies and Solutions Limited has unveiled the Science Teachers’ Game (STG), a reality show that will connect with students and science teachers. The competition is also designed to enhance the lifestyles of science teachers and students and reposition them to start earning more money just like other professionals in the banking, telecommunication, oil and gas and other blue chip companies, among others. Speaking at the media launch in Lagos recently, the promoter of the initiative, Mr. Patrick Ochuba described the concept as new, innovative and interesting, adding that it would be full of fun for teachers and students. “The Science Teachers’ Game is aimed at discovering, recognising and rewarding excellence in the teaching and study of
Biology, Chemistry and Physics. The science teachers do not need to go elsewhere to play this game, but will just need to remain in their classrooms, engage their students actively in science experiments and showcase their activities on the All School Science Practical and Project Academy Awards portal (Assppaa-ISBORS).� Ochuba added: “We have got a software and technology-Assppaa-ISBORS that connects with the teachers, captures their classroom activities with their students, measures and quantifies their skills, intelligence and frequency of activities and pay them money per every activities they successfully carry out in the classroom.� He said the firm plans to expose science teachers to two sources of income- from their employers and from the game. “Science teachers earn more money as they perform more science practical functions with their students. While earning more money, they should create targets for themselves; aim to be the best in their chosen subject areas.� According to him, the best biology,
chemistry and physics teachers, students and school managers at the end of the 2017/18 academic session would be rewarded with three brand new IVM cars, N60 million and all-expense-paid-trip to Dubai. “The science teachers’ game is open to both public and private secondary schools in Nigeria and registration is free for all science teachers and students.� Interested schools are expected to log on to www.assppaa.com to start earning more money, as Ochuba noted that his organisation has partnered Fidelity Bank, Konga, Systemtech and Innoson Motors to make it a success. The host and brand ambassador, Science Teachers Game, Ms. Isabella Akinseye expressed excitement about the competition, saying that it combines her love for education and entertainment. “Edutainment is the way forward to making learning enjoyable and exciting. Science practical and trips to the laboratory were fun for me. With technology and social media, we can get the science students more involved.�
Obaseki Inaugurates Classroom Blocks, Boreholes in Okpella Adibe Emenyonu in Benin City The Edo State Governor, Godwin Obaseki has inaugurated two blocks of classrooms and borehole projects executed by a non-governmental organisation, Anamero Idofe Anamero Foundation in Ogute Community, Okpella, Estako East Local Government Area of the state. Speaking at the ceremony recently, Obaseki thanked the organisation for the gesture and called on other well spirited individuals and groups to partner the state government in the development of rural communities. The projects inaugurated were a block of six classrooms with an administrative office at Ogute Oke Secondary School; a block of three classrooms with headmaster’s office at Ufuokha Primary School and borehole projects in various communities in Okpella. The governor, who was represented by his Chief of Staff, Mr. Taiwo Akerele, said the state government is determined to develop rural communities and urged traditional rulers to
organise themselves and leverage on the several windows of opportunities available for community development in his administration. “There are several windows we can use to develop our communities, but we need to be organised to harness such opportunities. One of such windows is partnership between communities and the state government. We appreciate Anamero Foundation for supporting the state government in initiating developmental projects in his community.� He disclosed that the contractor handling the construction of Okpella township road has been directed to resume work in order to deliver the project soon. In his remarks, former Governor, Adams Oshiomhole commended the donor of the projects, saying, “the donation goes to show how private sector can complement efforts of government in achieving sustainable development. You don’t have to be in government to impact positively on the lives of people in the community.�
BabcockVarsity Holds Annual Book Fair Babcock University IlishanRemo, Ogun State has concluded plans to hold its annual book fair 2017 on September 24 to 29, at the Registry Square of the institution from 8am to 5pm daily The Executive Director, Operations of Babcock Investment Group (BIG), Dr. Thomas Egwuonwu, said the fair is organised annually as a forum for many scholars, publishers and major book dealers locally and internationally to exhibit and offer for sale latest textbooks, publications and other academic materials in various fields of study, including entrepreneurship. He said the fair will attract numerous students, staff of Babcock University and other tertiary institutions, secondary and primary schools, adding
that librarians, parents, guardians, professionals and other members of the public are also welcome. “It will be an opportunity for participants to make good deals, obtain books of their choice and equip their libraries. The programme is another modest contribution of Babcock University towards promoting reading culture, excellent scholarship, entrepreneurial orientation and sustenance of high standard of education nationwide. “It is driven by the Corporate Image Statement of Babcock University which is a centre of excellence for character development and scholarship, a socially responsive, responsible and accountable institution in matters of commitment and action.�
Experts Call for Recruitment of Professional Counsellors in Schools Segun Awofadeji in Bauchi Stakeholders have called for the establishment of guidance and counselling units in all secondary schools across the country and the recruitment of professionals to counsel students on the choice of suitable careers. The experts drawn from various professions made the call during a stakeholders’ meeting organised by the Centre for Information Technology and Development (CITAD) on the strategy development for monitoring the implementation of the recommendations of task force to overhaul the education sector in Bauchi State. Governor Mohammed Abubakar had last year declared a state of emergency on education in the state and set up a 26-member
task force committee headed by the Deputy Governor, Nuhu Gidado to review the existing education policies and proffer recommendations on how best to revamp the sector. He urged all stakeholders to contribute meaningfully to the implementation of the committee’s recommendations which would transform the education system in the state. “We all must support the government to achieve its objectives of setting up the task force committee so that the recommendation will not be thrown out.’’ Also speaking, the team leader of Social Accountability Cluster in Education Sector in North East, Kabiru Dakata, said the aim of the meeting was to develop a strategy to monitor the implementation of the recommendation.
WEDNESDAY, SEPTEMBER 20, 2017, ˾ T H I S D AY
36
CITYSTRINGS Empoweringthe Less Privileged
Acting Features Editor: Charles Ajunwa Email charles.ajunwa@thisdaylive.com
Jonathan Eze who was in Ikirun, Osun State, examines the impact of AMK Foundation on the less privileged
G
overnment alone cannot cater for the endless and insatiable needs of its citizens no matter how well intentioned or how much they try. At all levels, human needs especially for shelter, food, clothing and other necessities are in high demand among youths, women folks and even the elderly. The harsh economy is however making it worse not only for government at all levels but even for individuals and corporate organisations that should see provision of social services and other basic things necessary for living as its corporate social responsibility. But the people of Boripe, Ifelodun and Odo-Otin are fortunate to have one of its own, Ayodele Musibau Kusamotu, a consummate lawyer, who has consistently and selflessly rescued his people from the jaws of poverty. His selfless service is being commended by all but most importantly are the beneficiaries whose lives are being touched. He is from the royal lineage of the Kusamotu’s family in Ikirun and a former aspirant of the federal House of Representatives meant to represent Ifelodun, Boripe and Odo-Otin Federal Constituency but his party, All Progressives Congress (APC) allegedly denied him of the ticket but stayed put because of his loyalty. However, it is worthy to note that his charity acts started over a decade ago even before conceiving the idea of representing his people in order to better their lots. Using his foundation, the Ayodele Musibau Kusamotu (AMK), the Lagos-born legal luminary distributed food items and fabrics to over 5,000 persons both young and old especially women during the last Eid-Kabir festival. It was as if his home was a Mecca. It was a beehive of activities. Besides occupying the multipurpose hall, there were no space for anyone to freely move around without stepping on each other. The young ones were also seen hanging on rooftops just to catch a glimpse of the proceedings. From every angle, different songs in local dialects were sang, hailing and appreciating a man who had never occupied any political space or appointment but spends monies he makes by dint of hard work on them in empowering them. On Ileya day, the communities dressed resplendently in the Ankara fabric that was given them and they all danced from the Kusamotu family house to the praying ground and other places. They also retired back where they were served with varieties of foods and drinks to their delight. Also, THISDAY reliably gathered from the community that he arranged for medical personnel to examine and treat them of their ailments twice a month, a programme that has been sustained for years. Apart from the free medications, there were testimonies and reports that he visits hospitals to pick up medical bills of patients who could not afford it. The list of hospitals that confirmed this is long. AMK Foundation believes strongly in youth empowerment. The founder opined that human capital development is the best gift you can hand over to a people so that they can be self-reliant. Consequent upon this, he created a committee that spearheaded an essay writing competition that held on 19th August with over 1,000 participants. Twenty-five winners would receive the sum of N 25,000 cheque each while other participants would get consolation gifts. The essay competition was for SS2 and SS3 students and the prize-giving day is slated
for the 28th day of September, 2017 at the Ikirun City Hall in Osun State. The organisers invited all the students and their parents to the event and members of the public. Kusamotu does not believe in publicity or politicising whatever he is doing. He believes it’s a service to God and to humanity. He sees it as the ideal thing to do. In fact, rendering social services to people is his priority. He told THISDAY: “For me, helping others is top priority. Being able to provide others with a path towards success makes me feel valuable. Helping others is one of my greatest joy. The more I help people, the more I help myself. This can be small or large, but they are all important. “I enjoy being part of the success of others. Seeing their joy gives me deep fulfillment and I am poised to do more.” Reacting to this philanthropic gesture, the Chief Executive Officer of Araj Construction Company, Mr. Raji Kehinde said this about him: “Prince Ayodele Kusamotu, God will continue to bless him for the God –given heart he possesses. He has been in private practice for over two decades, never earned a penny from the state or federal government directly or indirectly, yet he has invested over 100 million naira in the last decade on the good people of his constituency. “Market women have benefitted through micro credit schemes, free transportation on market days, monthly health programmes including free distribution of eye glasses, free medicines through medical prescriptions, youth empowerment via trainings in over 20 vocations and start-up equipment and materials distributed to reduce unemployment. He is a silent achiever, uncommon aspirator, humble giver. Please, let us support and encourage him.” In the same vein, Olatunji Abidoye said this about him: “Many men have become great, because they were able to rise above defeat. Many people started life from obscurity, while others made it a goal right from the day they were born. However, the subject matter of this attribute is all about the brain behind Ayodele Musibau Kusamotu Foundation. The man whose journey through the grace of God, made it to the top and remain there as a result of resilience, spartan discipline and commitment to hard work, without attracting any controversies, negative comments or scandals to himself and his legal career. He is a
For me, helping others is top priority. Being able to provide others with a path towards success makes me feel valuable. Helping others is one of my greatest joy.The more I help people, the more I help myself.This can be small or large, but they are all important. I enjoy being part of the success of others. Seeing their joy gives me deep fulfillment and I am poised to do more
A cross section of beneficiariries during an empowerment programme organised by AMK Foundation...recently
Kusamotu presenting items to one of the elderly women during an empowerment programme
versatile, effervescent, thorough and dignified personality of no mean repute. “His name may not be found on the Forbes list of career noise makers masquerading as philanthropists, but to those who know him, he is a phenomenon who cannot be pushed aside by the wave of the hand by anybody in his community. “By all standards; he is eminently qualified to be recognised for community award. But does he care? To him, this is not a big deal, he only cares to be recognised as a grand commander of the order of selfless service to humanity, the less-privileged members of the society especially from his federal constituency to be precise. “Many have hugely benefited from his large heartedness and silent philanthropic gesture through his AMK Foundation established for the sake of eliminating poverty from his people. Through his AMK Foundation, he has empowered thousand of youths with academic scholarship, zero interest loan for small-scale business, free health services and other community services. “Despite his wealth, painstakingly built within and outside the country over the years, he still believes that the only investment he can't
lose at all is when he invests in his people.’’ Meanwhile, party leaders have been lauding his virtues over his empowerment programmes that are laced in humility. At a recent event where the distribution of fabrics and foodstuffs were given out, a party chieftain, Alhaji Fatal Diekola, a former Commissioner of Information, Hon. Sunday Akere, Hon. Fatai Bamidele Araba, and Bayo Daoudu took turns to appreciate him. Diekola described Kusamotu as a unique man with a heart of gold and urged him to present himself for future elections assuring him that the people would back his ambition. In the same vein, Akere hailed his humility noting that he has been following the activities of Kusamotu for over a decade, adding that he is not surprised at his benevolence because his father and uncles were always caring for the people at all times. Even though he has not decided to run for any elective position, political parties are lobbying to have him as their candidate as a result of the large followership that he controls. At the event, Peoples Democratic Party (PDP) leaders met him and pleaded that he should contest under its platform boasting that the PDP would be a party to beat in the 2018 election in the state.
WEDNESDAY, SEPTEMBER 20, 2017, ˾ T H I S D AY
37
CITYSTRINGS
Large crowd of supporters at the empowerment programme
L-R: Alhaji Fatal Diekola, Kusamotu and a former Commissioner of Information in Osun State, Hon. Sunday Akere, at the even
Another beneficiary recieving items from Kusamotu,, at the event
Many have hugely benefited from his large heartedness and silent philanthropic gesture through his AMK Foundation established for the sake of eliminating poverty from his people
honouring him with their presence whenever he is in the state. He assured them that he would continue to cater for their welfare in his own little way. He however declared that he had not made up his mind whether to run or not or the party platform that he would use but promised that whatever the people and his supporters want will be done. According to him, “I thank you all for your show of love and affection. Your welfare would
Kusamotu
continue to be my priority and as my people, I will heed your call to run whenever you want me to.” He urged them to continue to be steadfast and committed to the party's ideals adding
that he is neither a PDP or APC aspirant for now. "I am for all of you. My love for you all transcends party divides and you can be assured of my continued loyalty to this cause.”
T H I S D AY Ëž , SEPTEMBER 20, 2017
38
BUSINESS/MONEYGUIDE
Report: Tight Monetary Policy Has Been Favourable to Some Banks Obinna Chima The prevailing restrictive monetary policy environment in Nigeria has been favourable to some banks, a report by Renaissance Capital Limited has stated. The report titled: “Nigerian Banks: Survival of the Fittest,� obtained yesterday, stated that the relatively high yields on government securities created an environment for banks to grow their net interest income (NII) without creating new risk assets. Yields on government treasury bills currently hover around 19-22 per cent. Examining the banks’ net interest margin (NIM) trend, the report concluded that Stanbic IBTC, GTBank and FBN Holdings have been the biggest beneficiaries of the high interest rate environment. It stated that GTBank’s NIM of 10.1% in the first half of 2017, based on its estimate, is currently the highest as the bank has benefited significantly from treasury bill yields, while
managing to control its funding costs. “Stanbic IBTC on the other hand, has seen its NIM expand the most over a two-year period. We attribute this also to its ability to manage its funding costs effectively, and consider its year-to-date deposit growth of about 13% in the first half of 2017, without a significant increase in its cost of fund (CoF),� it explained. Analysts at Renaissance Capital noted that system liquidity remains tight owing to aggressive open market operations by the CBN. “We think this, coupled with the difficulty in growing deposits, will most likely exert further pressure on funding costs. With the improvement in forex liquidity, the banks have lost some of their naira deposits as customers that had kept deposits in anticipation of accessing forex are now able to do so. Further, the high treasury bill yields have made it more difficult for the banks to compete for deposits without
compromising on costs. “We believe that the tier 2 banks could not partake in this opportunity as they had to contend with forex shortages as well as the additional strain caused by the withdrawal of Treasury Single Account (TSA)linked dollars from the banking system. “This was also during a period where corresponding international banks had reduced their credit lines to local Nigerian banks given the increased perceived risk. In other words, these banks simply did not have the forex liquidity to play in that market. FBN Holdings has not been as aggressive in entering these contracts, because it was also affected by TSA withdrawals and tried to manage its risk. GTBank also appears to have little appetite for such transactions, and given it has no other real use for forex funding in this environment, it appears that it will not be rolling over its Eurobond maturing in 2018,� it added.
HHHHHH
MARKET INDICATORS
FG Promises to Restore Investor Confidence in Capital Market Ndubuisi Francis and Udora Orizu Ă“Ă˜ ĂŒĂ&#x;ÔË The federal government has promised to restore investor confidence in the capital market by repositioning the Investment and Securities Tribunal for effectiveness and efficiency in handling the rising incidence of cases in the market. It assured that the Investment and Securities Tribunal (IST), which provides Alternative Dispute Resolution (ADR) window would be rejuvenated to dispel fears and threats from both capital market operators and the investing public on issues that require declaratory orders by the Tribunal. The Minister of Finance, Mrs. Kemi Adeosun, who gave the assurance in Abuja yesterday while inaugurating the new IST board, recalled that the former chairman and members of the tribunal were confronted with challenges both in the administration and operations due to lack of corporate governance, mistrust and lack of cordial working relationship. She said: “Let me go back to the memory lane that the former Chairman and members of the tribunal were confronted with challenges both in the administration and operation of the tribunal due to lack of corporate governance, mistrust and lack of cordial working relationship. “This is worth mentioning here, because it led to a serious administrative
gap, which generated some controversies that militated against the smooth running of the Tribunal. Therefore, a repeat of the unwholesome situation should be avoided by this new Tribunal. “I was compelled by the situation under reference to constitute an administrative committee on the Administrative and Financial Management of the IST to critically and holistically look into the lingering issues with a view to finding permanent resolution. The committee had submitted its report and I approved its recommendations, which are expected to reposition the Tribunal to effectively deliver on its mandate. I believe the report will provide a good guide to the new tribunal,� to tackle all the lingering issues that were considered by the Administrative Committee to ensure fairness, due process, and compliance with the rule of law. “Let me also use this opportunity to advise the new Tribunal to acquaint itself with the Rules and Regulation of Government as well as the ISA 2007 to minimize friction in the day to day running of the Tribunal. The first focus of the chairman should be to ensure harmonious and symbiotic working relationship with the Members, Management and Staff in order to move the Tribunal forward seamlessly. “Let me repeat for the avoidance of doubt that the onus
lies on the chairman and all the members to ensure that the IST effectively executes its adjudicatory functions in line with Government’s economic drive to improve the capital market, attract international investors and generate revenue for the country. Please endeavor to achieve this,� the minister said. In an interview with journalists after the inauguration of the ten-member IST board, its Chairman, Mr. Siaka Isaiah Idoko, said stakeholders in the capital market had been expecting this to happen. “We know that there are lots of challenges in the market and we are going to face them; the cases that are available, we are going to look at them. We are coming up with new ideas that will make the tribunal to be different. He added that the board would focus on “said delivering the tribunal from what it is to making it very viable and making sure that it meets the expectations of stakeholders in the market so that the various interests will be rekindled.� He added: “As we are know, if you look at the stock market, price of shares are down. It’s not going the way it is supposed to be. So, because of this, we will strive hard to rekindle the interest in the market. There’s no confidence and that confidence must be revived. I think with this, we will go a long way to enhance the beauty of the capital market.�
N100bn Debut Sukuk Offer Closes Today The Debt Management Office’s (DMO) inaugural N100 billion Sukuk offer will close today. FBN Merchant Bank Limited and Lotus Financial Services Limited were appointed as Joint Financial Advisers to the Debt Management Office (DMO) of the federal government on the inaugural FGN N100 billion Sukuk offer. The offer was opened to
the public on the 14th of September, and is billed to close on the 20th of September following a series of investor meetings in Lagos, Abuja, Port Harcourt, Kano and Kaduna by the Advisers and the DMO, to interact with investors and provide information on the purpose, structure and benefits of the Issuance. As a Joint Financial Adviser,
FBN Merchant Bank assisted the DMO with the determination of the requirements for structuring the Issuance, working with Lotus Financial Services, Legal Advisers and Incorporated Trustees on the transaction to structure the Sukuk and prepare relevant transaction documents in compliance with legal and regulatory requirements.
MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
DECEMBER 2016 Broad Money (M2)
23,840,392.42
-- Narrow Money (M1)
11,520,166.67
---- Currency Outside Banks
1,820,415.90
---- Demand Deposits
9,699,750.76
-- Quasi Money
12,320,225.75
Net Foreign Assets (NFA)
9,353,504.03
Net Domestic Assets(NDA)
14,486,888.39
-- Net Domestic Credit (NDC)
26,970,297.97
---- Credit to Government (Net)
4,595,579.89
---- Memo: Credit to Govt. (Net) less FMA
7,436,917.79
---- Memo: Fed. and Mirror Accounts (FMA)
-2,841,337.90
---- Credit to Private Sector (CPS)
22,374,718.08
--Other Assets Net
-12,483,409.58
Reserve Money (Base Money)
5,837,322.41
--Currency in Circulation
2,179,174.28
--Banks Reserves
3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
MANAGED FUNDS Month
December 2016
Inter-Bank Call Rate
10.39
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
13.96
Savings Deposit Rate
4.18
1 Month Deposit Rate
8.53
3 Months Deposit Rate
8.80
6 Months Deposit Rate
10.23
12 Months Deposit Rate
10.76
Prime Lending rate
17.09
Maximum Lending Rate
28.55 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ
OPEC DAILY BASKET PRICE AS AT, MON, 18 SEPT 2017 The price of OPEC basket of fourteen crudes stood at $53.78 a barrel on Monday, compared with $53.64 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. SOURCE: OPEC headquarters, Vienna
39
˾ WEDNESDAY, SEPTEMBER 20, 2017
Nigeria’s top 50 stocks based on market fundamentals
19-Sept-17 18-Sept-17
% Change
Capitalisation
EPS
P/E
P/S
Div. Yld Price/ Book Value
Table 1 Market Statistics Mkt Indicators
01 Dangote Cement Plc
205.80
205.80
0.00%
3,506,936,423,949.00
13.34
15.95
4.93
3.76%
4.40
02 Nigerian Breweries Plc
167.99
170.00
-1.18%
1,332,009,658,175.12
3.58
51.23
4.64
1.96%
8.77
03 Guaranty Trust Bank Plc
38.54
38.00
1.42%
1,134,277,647,292.96
4.49
8.79
2.78
4.48%
2.16
1,228.90
1,205.00
1.98%
974,095,268,082.80
10.00
122.02
5.32
2.38%
31.32
05 Zenith Bank Plc
22.00
22.01
-0.05%
690,722,863,292.00
4.13
5.52
1.41
7.89%
1.02
Table 3 Top 5 Gainers
06 Stanbic IBTC Holdings Plc
40.00
39.50
1.27%
400,000,000,000.00
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
8.75
8.85
-1.13%
317,445,855,317.50
1.99
4.81
0.91
6.26%
0.78
09 Access Bank Plc
9.72
9.73
-0.10%
281,179,884,253.32
13.18
0.76
0.76
5.50%
0.64
450.00
456.76
-1.48%
248,989,640,850.00 -82.02
-5.88
4.21
3.30%
0.71
11 Presco Plc
58.00
58.00
0.00%
230,287,668,610.00
0.03 2,338.93
3.81
1.90%
6.49
12 Lafarge Africa Plc
48.54
49.00
-0.94%
221,094,933,857.40
3.71
15.36
1.18
5.26%
1.04
13 FBN Holdings Plc
5.14
5.41
-4.99%
184,501,804,950.88
0.16
35.99
0.35
2.55%
0.35
14 Dangote Sugar Refinery Plc
13.71
13.72
-0.07%
164,520,000,000.00
2.01
6.92
0.77
3.60%
2.19
15 Unilever Nigeria Plc
42.00
41.80
0.48%
158,898,442,500.00
0.81
49.26
2.17
0.13%
12.95
16 Guinness Nig Plc
96.80
96.65
0.16%
145,769,976,598.40
-3.06
-25.17
1.12
4.16%
2.94
17 International Breweries Plc
38.95
38.95
0.00%
128,311,009,456.00
0.02 1,642.11
4.58
0.68%
11.11
223.10
225.00
-0.84%
75,747,321,834.70
43.58
5.43
0.28
5.92%
3.41
27.00
27.40
-1.46%
70,854,404,049.00
3.71
7.82
0.14
6.90%
0.72
5.65
5.75
-1.74%
67,995,596,751.10
0.29
23.59
0.18
10.95%
0.43
21 Okomu Oil Palm Plc
66.50
66.50
0.00%
63,435,015,000.00
5.15
12.75
4.36
0.15%
3.68
22 Forte Oil Plc.
47.90
47.90
0.00%
62,388,844,833.70
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
85.82
90.30
-4.96%
54,975,464,952.66 -21.86
-4.21
0.52
2.39%
5.47
1.21
1.27
-4.72%
46,852,406,884.25
-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
1.31
1.30
0.77%
37,940,987,256.52
0.39
3.54
0.26
11.68%
0.21
28 National Salt Co. Nig. Plc
13.00
13.00
0.00%
34,442,698,914.00
0.91
14.26
1.88
4.23%
4.28
29 U A C N Plc
15.00
15.45
-2.91%
28,812,965,805.00
3.37
4.44
0.38
6.68%
0.38
30 Sterling Bank Plc
0.99
1.03
-3.88%
28,502,513,944.74
0.18
5.86
0.27
8.57%
0.35
31 Diamond Bank Plc
1.13
1.14
-0.88%
26,171,239,533.84
-0.29
-4.02
0.13
0.00%
0.12
32 Glaxo Smithkline Consumer Nig. Plc
21.40
21.40
0.00%
25,591,756,843.20
3.02
6.95
1.67
1.43%
1.50
33 PZ Cussons Nigeria Plc
24.00
25.00
-4.00%
24,000,000,000.00
5.69
4.73
1.87
0.37%
0.72
34 Cap Plc
33.00
33.00
0.00%
23,100,000,000.00
2.17
15.89
3.54
3.33%
16.77
35 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
36 Mansard Insurance Plc
1.99
1.90
4.74%
20,895,000,000.00
0.25
7.57
0.96
2.63%
0.99
11.00
11.00
0.00%
20,660,222,440.00
-0.64
-18.74
0.70
10.77%
2.15
38 FCMB Group Plc
1.03
1.02
0.98%
20,396,792,104.43
0.09
13.13
0.13
8.93%
0.12
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
1.90
1.90
0.00%
15,067,375,550.20
-0.40
-5.19
0.35
7.62%
0.50
41 Continental Reinsurance Plc
1.43
1.43
0.00%
14,833,024,366.16
0.30
4.51
0.54
8.96%
0.69
42 Cement Co. Of North.Nig. Plc
8.80
8.80
0.00%
11,058,764,340.80
1.29
6.96
0.70
1.11%
0.90
43 Skye Bank Plc
0.51
0.53
-3.77%
7,078,953,719.10
-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
0.53
0.53
0.00%
6,195,349,109.26
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 UACN Property Development Co. Limited
3.05
3.05
0.00%
5,242,187,484.75
-0.90
-3.23
0.79
24.05%
0.15
48 Nigerian Aviation Handling Company Plc
3.00
3.00
0.00%
4,872,656,250.00
0.36
9.51
0.69
5.88%
0.85
49 Fidson Healthcare Plc
2.97
3.10
-4.19%
4,455,000,000.00
0.50
6.46
0.41
1.56%
0.69
50 AIICO Insurance Plc
0.58
0.58
0.00%
4,019,518,598.40
1.48
0.38
0.14
8.93%
0.45
04 Nestle Nigeria Plc
10 Seplat Petroleum Dev. Co. Ltd
18 Total Nigeria Plc 19 Flour Mills Nig. Plc 20 Oando Plc
23 Mobil Oil Nig Plc 24 7-Up Bottling Comp. Plc 25 Transnational Corporation Of Nigeria Plc 26 Julius Berger Nig. Plc 27 Fidelity Bank Plc
37 Cadbury Nigeria Plc
TOTAL
11,409,786,833,631.70
TOTAL MARKET CAP
12,012,453,342,685.70
% OF MARKET CAP Annotation - MA* = Simple Moving Average
94.98%
NSE All Share Index NSE Market Cap (N'Trillion) Thisday BGL 50 Index Thisday BGL 50 Market Cap (N'Trillion)
Open Close Change % 18-Sept-17 19-Sept-17 34,873.07 12.02
34,846.82 12.01
-0.08 -0.08
146.61 11.42
146.54 11.41
-0.05 -0.05
Open Close Change % 18-Sept-17 19-Sept-17
Mansard Insurance Plc Nestle Nigeria Plc Guaranty Trust Bank Plc Stanbic IBTC Holdings Plc FCMB Group Plc
1.90 1,205.00 38.00 39.50 1.02
1.99 1,228.90 38.54 40.00 1.03
4.74 1.98 1.42 1.27 0.98
Table 4 Top 5 Losers Stock
Open Close Change % 18-Sept-17 19-Sept-17
FBN Holdings Plc 7-Up Bottling Comp. Plc Transnational Corporation Of Nigeria Plc Fidson Healthcare Plc PZ Cussons Nigeria Plc
5.41 90.30 1.27
5.14 85.82 1.21
-4.99 -4.96 -4.72
3.10 25.00
2.97 24.00
-4.19 -4.00
NSE All Share Index losses 0.08% Market pulse on the Nigerian Stock Exchange (NSE) today - Tuesday, September 19th, 2017 ended negative as the market closed red. This was further highlighted by negative performance from the NSE Subsectors: Consumer Goods and Oil & Gas (Save Banking and Insurance). Also, trading activities decreased in volume as 174.66 million shares worth N2.83 billion in 3,783 deals exchanged hands today. This is a decrease from the 160.14 million shares worth N2.96 billion in 3,361 trades were carried out on Monday. Topping in volume terms are: Guaranty Trust Bank Plc, FCMB Group Bank and FBN Holdings Plc; while Guaranty Trust Bank Plc and Zenith Bank Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed negative with 0.08% (-26.25) decrease to close at 34,846.82 from 34,873.07 the previous trading day. Market capitalization depreciated in tandem to N12.01 trillion from N12.02 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with a decrease of 0.05% to 146.54 from 146.61 recorded at the end of the previous trading day, while its market capitalization stood at N11.41 trillion from N11.42 trillion of the previous trading day. A total number of 14 stocks gained on the bourse today while 24 stocks declined, leaving 78 stocks unchanged. Leading the pack again was Linkage Assurance Plc led with a gain of 5.00% to close at N0.63 per share. It was followed by Mansard Insurance Plc with a gain of 44.74% to close at N1.99 per share. Others on the gainers’ list include: Jaiz Plc, Nestle Nigeria Plc, and Vitafoam Plc. On the decliners’ list, FBN Holdings Plc led with a loss of 4.99% to close at N5.14 per share. It was followed by 7-Up Bottling Comp. Plc with a loss of 4.96% to close at N85.82 per share. Others on the decliners list include: N.E.M Insurance Co (Nig.) Plc, Transnational Corporation Of Nigeria Plc and Fidson Healthcare Plc. Mansard Insurance Plc emerged the toast of investors as it topped the Thisday BGL 50 Index gainers’ list with a gain of 4.74% to close at N1.99 per share. It was followed by Nestle Nigeria Plc with a gain of 1.98% to close at N1228.90 per share. Others on the gainers chart include: Guaranty Trust Bank Plc, Stanbic IBTC Holdings Plc and FCMB Group Plc. On the decliners’ list, FBN Holdings Plc led with a loss of 4.99% to close at N5.14 per share. It was closely followed by 7-Up Bottling Comp. Plc with a loss of 4.96% to close at N85.82 per share. Others on the decliners’ list are: Transnational Corporation Of Nigeria Plc, Fidson Healthcare Plc and PZ Cussons Nigeria 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 20, 2017
40
MARKET NEWS
Oando Foundation Set to Impact Girl Child Education Oando Foundation (OF), an independent charity with a mission to create conducive learning environments in dilapidated public primary schools in Nigeria has partnered Fashion Vie New York to raise funds towards education of the Nigerian ‘girl child’ on Thursday, 14 September, 2017. The Foundation was selected as the first beneficiary from
Africa to receive proceeds from The Dream: Fall 2017 Benefit Fashion Show and Silent Auction where it successfully raised N43,800,000 for the girl child education. Through its Adopt a School Initiative, Oando Foundation has steadily provided access to improved quality education in Nigeria, with a focus on girls in the Northern region.
T H E MAIN BOARD
DEALS
MARKET PRICE
The Foundation’s holistic programmes have increased the number of young girls enrolling in its adopted schools through the provision of hygiene and sanitary facilities in schools, scholarships to deserving females to transit to secondary school, mentorship programmes, training of female teachers, and partnerships with International
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
Development Organisations. With over 6.3 million out-ofschool girls in Nigeria, Oando Foundation’s commitment is reinforced in the words of Angelique Kidjo, “Everyone wins when children — and especially girls – have access to education. An educated girl is likely to increase her personal earning potential and prepare herself
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
for a productive and fulfilling life, as well as reduce poverty in the whole community. Investing in girls’ education also helps delay early marriage and parenthood. Our booming economies in Africa need more female engineers, teachers and doctors to prosper and sustain growth.� Fashion Vie an annual char-
ity fashion show which runs alongside New York Fashion Week is inspired by the life of its organiser, International Fashion Designer and founder, Chuks Collins whose career began in Nigeria. The event which took place at the famous Angel Orensanz, hosted by Claudia Jordan, actress, model, TV and radio personality.
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 20, 2017
MARKET NEWS
NSE Index Closes Lower as Market Maintains Negative Momentum Goddy Egene The Nigerian Stock Exchange (NSE) All-Share Index fell 0.08 per cent to close lower at 34,846.82 as the negative momentum was sustained. However, the decline was lower than the 0.38 per cent recorded the first trading of the week, signifying the likely return of the bulls. According to analysts at Meristem Securities Limited said the market remained awash with bearish sentiments, as sell
pressures noted on certain heavyweight stocks in the consumer goods, banking and oil & gas space continue to drag market performance. However, the said: “We expect an upturn of activities by the end of the trading week.” A total of 24 stocks depreciated while 14 appreciated yesterday. FBN Holdings Plc, SevenUp Bottling Company Plc and N.E.M Insurance led the price losers with 4.9 per cent apiece, trailed by Transcorp
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
Plc with 4.7 per cent. Fidson Healthcare Plc shed 4.1 per cent, while PZ Cussons Nigeria Plc declined by 4.0 per cent. Sterling Bank Plc closed 3.8 per cent lower, just as Skye Bank Plc, UAC of Nigeria Plc and Dangote Flour Mills Plc went down by 3.7 per cent and 2.9 per cent respectively. On the positive side, Linkage Assurance Plc led the price gainers with 5.0 per cent, trailed by AXA Mansard Insurance Plc with 4.7 per cent. Jaiz Bank Plc
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 18Sept-2017, unless otherwise stated.
and Nestle Nigeria Plc added 4.4 per cent and 1.9 per cent respectively. However, the value of trading surged by 84 per cent as investors committed N2.83 billion to N174.65 million in 3,783 deals up from N1.54 billion invested in 162.73 million shares in 3,225 deals the previous day. The three most actively traded sectors were: Financial Services (139.39 million shares), Consumer Goods (11.29 million shares), and Conglomerates (11.02
million shares), while the three most actively traded stocks were: GTBank (33.83 million shares), FCMB (12.58 million shares) and FBN Holdings (12.52 million shares). A further analysis of the market performance showed that three out of the five sectors depreciated led by the NSE Oil & Gas Index led decliners with 1.0 per cent loss on the back of sustained profit taking in Seplat (-1.5 per cent). It was followed by
the NSE Industrial Goods Index that shed 0.4 per cent on account of Lafarge Africa (-0.9 per cent). Also, the NSE Consumer Goods Index fell by 0.2 per cent owing to losses in Nigerian Breweries (-1.2 per cent) and PZ (-4.0 per cent). On the flipside, the NSE Insurance Index gained 0.9 per cent on the back of sustained interest in AXA Mansard (+4.7 per cent) and Linkage Assurance(+5.0 per cent) just as the NSE Banking Index closed 0.4 per cent higher.
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 168.25 168.92 32.48% Nigeria International Debt Fund 231.70 232.47 9.56% 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 0.79 0.80 13.41% 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 18.80% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 16.61 17.11 34.52% ARM Discovery Fund 353.64 364.30 23.14% ARM Ethical Fund 25.26 26.02 13.06% ARM Money Market Fund 1.00 1.00 18.30% 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 139.84 140.83 32.96% AXA Mansard Money Market Fund 1.00 1.00 18.80% 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 19.91% Paramount Equity Fund 11.56 11.85 23.47% Women's Investment Fund 95.00 97.43 12.30% 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 1,131.53 1,132.66 11.55% FBN Heritage Fund 139.50 140.73 25.15% FBN Money Market Fund 100.00 100.00 18.58% FBN Nigeria Eurobond (USD) Fund - Institutional $110.73 $111.76 7.69% FBN Nigeria Eurobond (USD) Fund - Retail $110.20 $111.23 7.91% FBN Nigeria Smart Beta Equity Fund 147.90 150.05 31.36% 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 1.30 1.33 39.89% Legacy Short Maturity (NGN) Fund 2.87 2.87 11.68% 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 2,833.52 2,876.51 28.96% Coral Income Fund 2,357.48 2,357.48 13.14% 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 15.83% 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 18.45% Vantage Balanced Fund 2.02 2.05 20.46% 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 13.31% Lotus Halal Fixed Income Fund 1,041.78 1,041.78 8.34% 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 12.34 12.45 27.70% 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 1.17 1.19 17.74% PACAM Fixed Income Fund 10.78 10.84 3.73% PACAM Money Market Fund 10.00 10.00 14.44% 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 119.89 122.00 18.31% 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 1.37 1.37 10.19% 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 2,131.34 2,142.92 16.38% Stanbic IBTC Bond Fund 164.73 164.73 7.00% Stanbic IBTC Ethical Fund 0.93 0.94 21.43% Stanbic IBTC Guaranteed Investment Fund 209.73 209.73 12.22% Stanbic IBTC Iman Fund 164.62 166.77 26.80% Stanbic IBTC Money Market Fund 100.00 100.00 18.55% Stanbic IBTC Nigerian Equity Fund 9,100.93 9,198.87 19.96% 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 16.33% United Capital Bond Fund 1.41 1.41 15.19% United Capital Equity Fund 0.83 0.85 24.04% United Capital Money Market Fund 1.00 1.00 18.43% 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 12.20 12.38 25.62% Zenith Ethical Fund 12.93 13.07 18.10% Zenith Income Fund 18.46 18.46 11.64%
REITS NAV Per Share
Yield / T-Rtn
11.41 130.37
1.01% 5.16%
Bid Price
Offer Price
Yield / T-Rtn
10.39 101.19
10.49 103.09
20.50% 33.53%
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
4.27 9.27 16.25 19.17 134.77
4.31 9.35 16.35 19.37 135.77
54.29% 31.68% 37.50% 20.06% 6.03%
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
42
T H I S D AY WEDNESDAY SEPTEMBER 20, 2017
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T H I S D AY WEDNESDAY SEPTEMBER 20, 2017
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Nipex Tender Number: 1000002295
T H I S D AY WEDNESDAY SEPTEMBER 20, 2017
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T H I S D AY WEDNESDAY SEPTEMBER 20, 2017
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WEDNESDAY SEPTEMBER 20, 2017 Ëž T H I S D AY
INTERNATIONAL
email:foreigndesk@thisdaylive.com
Trump Warns of ‘Rogue Nation’Threat in Speech to UN US President Donald Trump has warned of the threat from “rogue nations� in a speech to the UN General Assembly, singling out North Korea and Iran. In his debut speech to the body in New York, he warned America would destroy North Korea if it was forced to defend itself or its allies. He mocked North Korea’s leader, Kim Jong-un, saying: “Rocket man is on a suicide mission.� North Korea has tested nuclear
bombs and missiles in defiance of the UN. Iran, Mr Trump said, was a “corrupt dictatorship� intent on destabilising the Middle East. He called on the government in Tehran to cease supporting terrorism and again criticised the Obama-era deal over Iran’s nuclear programme, which he called an embarrassment. In other parts of his speech he: rTBJE UIF 64 DPVME iOP MPOHFS be taken advantage of or enter one-sided deals�
rTUSFTTFE UIF JNQPSUBODF PG “strong sovereign nations� to the maintenance of international order rTBJE TPNF OBUJPOT XFSF iHPJOH to Hell� but the UN could help them rTBJE UIF DSJTJT JO 7FOF[VFMB which is led by a leftwing government hostile to the US, was “unacceptable� and the America could not “stand by and watch� rEFOPVODFE TPDJBMJTN BT BO ideology, saying it had only brought “anguish and devastation and failure�
Hurricane Maria Regains Strength after Battering Dominica The latest major Atlantic hurricane of the season, Maria, has powered back to category five strength after pounding the Caribbean island of Dominica. It weakened to a four after wreaking “widespread damage� on the island but is now packing maximum sustained winds of 260km/h (160mph) again. The storm is moving roughly along the same track as Irma, this season’s other category five hurricane. Maria is now heading towards
UIF 7JSHJO *TMBOET BOE 1VFSUP 3JDP The governor of Puerto Rico, a US territory, has told the island’s 3.5 million people to seek shelter. A curfew was imposed on the #SJUJTI 7JSHJO *TMBOET PO .POEBZ night and residents have been asked to stay indoors until the storm has passed. Officials there fear the debris left by Irma earlier this month could now prove extremely dangerous in the winds of Maria. The new storm is proving particularly treacherous as its
strength can change dramatically in a matter of hours. The former British colony, which has a population of 72,000 and is less than 50km long and 25km wide, escaped the worst of Hurricane Irma two weeks ago. But on Monday the eye of the new category five storm passed directly over, making landfall at 21:00 local time (01:00 GMT Tuesday). The roof of Prime Minister Roosevelt Skerrit’s official residence was blown off in the storm.
Boko Haram: United Nations Condemn Increasing Attacks on Civilian Targets Michael Olugbode in Maiduguri The United Nations yesteday condemned the increasing spate of attacks by Boko Haram insurgents on civilian targets in North-eastern part of Nigeria. The United Nations, in a press release by its Humanitarian Coordinator in Nigeria, Mr. Edward Kallon, said it was highly condemnable for deadly attacks to target innocent civilians in Konduga, Banki and Ngala areas of Borno State in the conflict-struck North-east. He lamented that four attacks in recent weeks, three of which were carried out by suicide bombers, have claimed the lives of over 45 civilians and injured countless others. He said this is indicative of a surge in the brutal violence triggered by a regionalised conflict that is now in its eighth year. Mallon said: “Civilians are routinely killed in direct and indiscriminate attacks in the north-east of Nigeria.� He condemned that: “This
conflict, with all its brutality and horrors, is reaching new lows, with more than 80 children used as human bombs in 2017 alone,� calling on “all parties to the conflict to respect human life and dignity.� He said: “The latest attack occurred on 18 September in Konduga area, about 28 kilometers southeast of Maiduguri. Three suicide bombers consecutively detonated explosive devices strapped to their bodies in Mashemari village, killing 13 and injuring many more. Previous attacks in Banki and Ngala targeted camps for internally displaced persons and Nigerian refugees returning home. “These camps host thousands of vulnerable women, men and children who have been forced to flee their homes and now rely on humanitarian assistance to meet their basic needs. The previous Konduga attack in August targeted a market in the town.� He lamented that: “The frequency of the attacks is on the rise and ‘softer’ targets, such as camps for displaced persons, are
being identified by insurgents. This is an extremely worrying trend.� He said: “While the Government of Nigeria has made significant progress in many locations in the north-east, allowing thousands of people to return home, there is more to be done. I urge the government of Nigeria to increase efforts to protect civilians.� He promised: “The protection of civilians is the focus of the ongoing humanitarian response in the north-east, where 8.5 million people are in need of humanitarian assistance in the most affected states of Borno, Yobe and Adamawa.� He said: “Women, children and men face grave human rights violations and sexual and genderbased violence, including rape. Since the start of the conflict in 2009, more than 20,000 people have been killed, thousands of women and girls have been abducted and children have been used as so-called ‘suicide’ bombers.�
FBI Wiretapped Trump Campaign Chief Paul Manafort – Reports Donald Trump’s campaign chairman, Paul Manafort, was wiretapped by the FBI due to concerns about his links with Moscow, US media reports say. The reported surveillance, granted under a court warrant, occurred both before and after the 2016 election. Investigators wanted to know if he had sought Russian help with the campaign. It is not known if the wiretap, which began in 2014, included conversations with President Trump. Mr Manafort is said to
be facing an indictment. The former political consultant, who had worked for Ukraine’s former ruling party, was chairman of the Trump campaign from June to August 2016. He has not commented on the reports. FBI special counsel Robert Mueller is leading an investigation into alleged attempts by Russia to influence the 2016 election. However, the Foreign Intelligence SurveillanceAct (FISA) warrants were granted before his investigation started, and were first authorised as part of an investigation into
Washington consulting firms working for Ukraine, CNN reported. After the 2014 warrant ended, it was renewed again until earlier this year, in order to allow the FBI to investigate ties between Trump campaign associates and suspected Russian operatives. Communications collected with the Manafort wiretaps sparked concerns among investigators that he had encouraged the Russians to help with the election campaign, CNN cited three sources as saying although two of the sources said the evidence had not been conclusive.
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WEDNESDAY SEPTEMBER 20, 2017 ˾ T H I S D AY
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NEWS
News Editor Davidson Iriekpen Email davidson.iriekpen@thisdaylive.com, 08111813081
EFCC Recovers N409bn, $70m in Eight Months FIRS generates N2.5tn
Ndubuisi Francis in Abuja The Economic and Financial Crimes Commission (EFCC) has secured 137 convictions between January and August 2017, and recovered looted funds in different currency denominations totaling N409,270,706,686.75, $69,501,156.67 million, £231,118.68, €610,816.20; AED 443,400.00 and SR70,500. The acting Chairman of the anti-graft agency, Mr. Ibrahim Magu, disclosed this in Abuja at a public lecture organised by the Abuja chapter of the Finance Correspondents Association of Nigeria (FICAN) to mark its 20th anniversary. The recovered monies, Magu stated, are kept in the recovery fund account of the Central Bank of Nigeria (CBN). Delivering a lecture on ‘Corruption and National Development: Issues, Challenges and Solutions,’ the EFCC boss said corruption was the single biggest challenge facing Nigeria, adding that never in the history of the agency had corruption being fought in a manner it was being addressed by the EFCC. He added that with the successes so far recorded by the agency, the era of impunity was over. Magu, who was represented by
the Head, Public Interface Unit, EFCC, Tony Orilade, said a lot of successes had been recorded in the fight against corruption, adding that those benefiting from corrupt practices were seriously fighting back. “To state that Nigeria has all it takes to truly be the giant of Africa is to state the obvious. We are blessed with both human and mineral resources. But, why have we been unable to explore and exploit our potential to the fullest? Corruption is no doubt at the heart of why a media house will will not pay it’s teeming staff members their salaries, despite their toil day and night to ensure the publication does not miss the light of the day. “Corruption is the reason why our hospitals have remained in deplorable states. To put it more bluntly, the single major problem militating against our national development is corruption. Most crimes against humanity are perpetrated using the proceeds of corruption, monies obtained through illegal activities, illicit cashflows and money laundering. But we are winning the war against corruption, because the age of impunity is over. Never again would anyone be treated as sacred cow,” he said. “As much as we are striving to
fight corruption to a standstill in Nigeria, sadly it is fighting back, really hard. In the history of the EFCC’s 14 years of spearheading the fight against corruption, the fight-back has never been this serious. What won’t they do to silence the commission and it’s dutiful officials”? He queried. Meanwhile, the Federal Inland Revenue Service (FIRS) has disclosed that it generated a total of N2.51 trillion from taxes for the federation between January and August this year. The FIRS’ Executive Chairman, Mr. Babatunde Fowler, said out of the amount, non-oil taxes contributed about 65 per cent
while taxes from oil sources contributed the balance of 35 per cent He said the agency was able to achieve the collection through innovative ways of tax administration. A lot of reforms, he said. had been implemented by the service to ensure voluntary compliance with the tax laws. He added that the service had also put in place strategies to increase the amount generated from non-oil taxes. He said: “To close the gap in low oil tax revenue caused by the fall in the price of crude oil and the incessant destruction of oil and gas facilities in the
South-south region, the service introduced innovative strategies to raise the revenue from non- oil sources. “This has resulted in the collection of total tax revenue of N2.5trillion between January and August, 2017.” On the Voluntary Assets and Income Declaration Scheme (VAIDS), which was formally launched in June by Vice President, Yemi Osinbajo, Fowler said the scheme was designed to encourage voluntary disclosure of previously undisclosed assets and income for the purpose of payment of all outstanding tax liabilities. He said: “The scheme is
expected to help expand Nigeria’s tax base and therefore improve the low tax to GDP ratio from the current six per cent to between 10s and 15 per cent. “It also seeks to curb the use of tax havens for illicit fund flow and tax avoidance.” He added that, the scheme is being implemented across the states in collaboration with the 36 state’s internal revenue services and that of Federal Capital Territory The FIRS VAIDS programme offers a grace period from July 1, 2017 to March 31,2018 for defaulting tax payers to voluntarily pay back to government what they owe.
Saraki, South-east Senators Meet over IPOB, National Unity Northern caucus to meet Thursday Damilola Oyedele in Abuja The Senate President, Dr. Bukola Saraki, and the South-east Senate Caucus last night met over the recent clash between separatist group, Indigenous People of Biafra (IPOB) and the Nigeria Army which culminated in the categorisation of the former as a terrorist organisation by the latter. This is coming ahead of the scheduled meeting of northern senators tomorrow over the recent developments in different parts of the country. Saraki is also expected to attend the meeting. Both meetings also have as major agenda, discourse on how to ensure the unity of Nigeria, the pursuit and enhancement of peaceful co-existence among all groups in the light of agitations in different parts of the country. Tuesday’s meeting which started at about 9.42p.m. took place at the residence of the Deputy Senate President, Senator Ike Ekweremadu. THISDAY gathered that the meeting which was supposed to have commenced earlier in the day, was delayed till night for the Senate President to be in by planned attendance. The Special Assistant, New Media to the Senate President, Mr. Bankole Omishore, in a tweet, confirmed that the meeting was to discuss national unity. “President of Senate @
bukolasaraki currently meeting with South-east senators on how to unite the country. To also meet with Northern Senators on Thursday,” the tweet read. The South-east caucus had been expected to meet this week to discuss the worrisome turn of events in the region ahead of the resumption of the Senate from summer recess next week. The meeting was considered to formally adopt a consensus position before the Senate at plenary, since the matter is now considered priority discourse for the upper chamber in plenary. Sources privy to the agenda for the meeting however added that the IPOB matter is not the only item to be discussed. “This is part of consultations on all issues across the country, the tensions and other things not related to agitations. It is normal for such meetings to hold ahead of resumption. They have been away for six weeks,” a source said. He added that the lawmakers through their caucuses also have to consult and outline their agenda for the resumption. Saraki in a statement on Monday, had faulted the prescription of IPOB by the South-east governors and its categorisation as a terrorist organisation by the Nigerian Army. He had categorically stated that the actions were unconstitutional and did not follow due process.
MEETING FOR DEVELOPMENT
L-R: Chief Executive Officer, Bloomberg Philantropies, Patricia Harris; Chief Executive Officer of Bloomberg L.P, Michael Bloomberg; President of Dangote Group, Aliko Dangote; and Chief Executive Officer, Aliko Dangote Foundation, Zouera Youssoufou, after a private meeting at the Bloomberg LP office in New York....yesterday
Customs Intercepts Another Cache of Arms at Tin-Can Port Impounds 18 smuggled bullet-proof cars Ndubuisi Francis in Abuja and Eromosele Abiodun in Lagos The Nigeria Customs Service (NCS), Tin Can Island Command yesterday intercepted another container suspected to contain yet another cache of arms imported from Turkey. The interception came barely one week after the command intercepted a 20-foot container load of 1,100 pump action rifles. THISDAY investigations revealed that the container with number, CMAU189817/8 is believed to contain about 475 pump action rifles. THISDAY gathered at the port that the pump action rifles were discovered after the Customs Area Comptroller of the Command, Comptroller Bashir Yusuf, ordered a detailed profiling of the importer of the 1,100 rifles intercepted last week. After the detailed profiling, it was discovered that the container belonged to the same importer.
This seizure is the third in the series of containers loads of arms seizure at Tin-Can port alone and fourth in the country within eight months. A source who witnessed the examination of the container told THISDAY that the rifles were concealed with small connecting pipes. According to the source, “The container was owned by the same importer of the 1,100 guns. After a detailed profiling of the importer ordered by the Area Comptroller, it was discovered that he still has another container inside the port, so they fished it out. “But I don’t know why they are hiding the identity of the importer; it could even be the government themselves importing these weapons.” However, when contacted the National Public Relations Officer of the service, Joseph Attah, said a container was suspected and its yet to be examined to know what is inside. “Let’s not speculate about
arms please. A container is being suspected and examination will reveal whatever is inside,” he said in a short SMS. The Comptroller General of the NCS, Col. Hameed Ali (rtd), had last Monday displayed 1,100 rifles imported into Tincan port from Turkey. The customs CG said the 20ft container was originally declared to contain wash hand basins and water closets. He said: “On September 6, 2017, operatives of the Nigeria Customs Service intelligence unit on a routine monitoring of activities across the terminals discovered a 1x20ft container with number, GESU2555208 which was not previously listed for examination positioned with other containers for the day’s examination. “They also observed that the seal of this unlisted container had already been cut and padlocked. The container became suspect and had to be immediately transferred to the enforcement unit.” Upon thorough examination, the
container contained 600 pieces of Jojef Magnum black pump action; 300 pieces of Jojef Magnum Silver pump action and 209 pieces of Jojef Magnum Plastic single barrels hunting gun pump action rifles. “Importation of 1100 rifles at a time when the nation is undergoing some security challenges is a clear indication that there are indeed some elements who do not believe in the unity, peace and well being of Nigeria. Also, the NCS has announced a significant break in its drive to checkmate the smuggling of vehicles through the land borders with the seizure of what it described as 18 high-profile and exotic bullet-proof cars smuggled through the land borders. The Comptroller-General of Customs, Ali, who made the disclosure in Abuja yesterday, said the vehicles were impounded from Kefiano Motors Limited, an auto dealer in Abuja via credible information sourced by the detachment of the compliance team of the NCS.
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NEWS
Capital Market Infractions: SEC Bans Ogiemwonyi, Withdraws Operating Licence Goddy Egene The Securities and Exchange Commission (SEC) yesterday banned the Managing Director of Partnership Investment Company Plc and Partnership Securities Limited, Mr. Victor Ogiemwonyi, for life from holding directorship positions in any public company quoted in Nigeria for his unprofessional conduct in the Nigerian capital market. The capital market regulator also withdrew the operating licence of his companies. Similarly, the Chairman of the companies, Mr. Henry Omoragbon, was suspended for a period of five years from engaging in capital market activities in the Nigerian capital market. Ogiemwonyi was banned following the decision reached by the Administrative Proceeding Committee (APC) of SEC that heard all the complaints of market infractions and unprofessional conducts levelled against him. Ogiemwonyi, who has criminal and civil charges against him in courts, was dragged before the APC for selling shares and misappropriating money of some of his clients. Particularly, the stockbroker was said to have sold shares of former Chief Executive Officer of Ecobank Transnational Incorporated (ETI), Mr. Arnold Ekpe, worth N1.24
billion and misappropriated the proceeds. According to SEC, after the APC hearing, Ogiemwonyi was found to have violated the commission’s rules on separation of clients’ funds from company’s funds; unauthorised sale of clients’ shares; failure/refusal to resolve clients’ complaints; performance of a capital market function without registration; non-compliance with the Code of Corporate Governance of the Commission; filing of false/ misleading information; noncompliance with SEC’s rules on disclosure of transactions valued at N50 million (and above) executed in a single day, soliciting deposits from the public and other violations of the Investments and Securities Act, 2007, SEC Rules and Regulations, the Code of Conduct for Capital Market Operators and their Employees and Code of Corporate Governance for Public Companies. The commission said: “Pursaunt to Section 38 (4) of the Investments and Securities Act 2007 and Rules 34 (1), (a) of the SEC Rules and Regulations made pursuant thereto, the certificate of registration of Partnership Investment Company Plc is hereby cancelled without prejudice to the recovery of all existing liabilities due to the complainants and penalties payable to the commission.
Nurses to Join Other Health Workers in Shutting Down Hospitals Thursday Senator Iroegbu in Abuja The nurses and midwives in federal health institutions across the country are set to abide by the decision of the Joint Health Workers Union (JOHESU) to embark on industrial action tomorrow if the federal government fails to accede to its demands at the expiration of the ultimatum given to the government by midnight today. Rising from a stakeholders’ meeting in Abuja yesterday, the National Association of Nigeria Nurses and Midwives (NANNM), as a bonafide collaborator with JOHESU, called on its members in federal health institutions which include teaching hospitals, research centres and federal medical centres to down tools and stay away from hospitals and other health facilities nationwide on the order of the umbrella body. The National President of NANNM, Abdulrafiu Adeniji, while briefing journalists on the development said: “By yesterday’s expiration of our ultimatum, all federal health institutions will remain closed.” By extension, he said: “All states and local government health institutions are hereby put on red alert. If nothing is done after one week that the strike might have commenced, they should also go on strike”, adding that the only language that the Nigerian government understands is the strike.” According to him, the meeting, which had in attendance members of the national executive council of the association, representatives of the chairmen’s forum, executives of NANNM in federal institutions
as well as state executive officers, was “occasioned by the looming crisis in the nation’s health sector with a view to review the situation and come up with resolutions.” Stressing that the federal government has taken the association for a ride, the president vehemently said NANNM was not satisfied with the condition of healthcare infrastructure in the country and as a result, asked the government to implement the report of the December 2016 InterMinisterial Committee in which contains the solution to industrial crisis in the health sector. The association, therefore, called on the government to expedite action of the proposed gazetting of a well-deserved scheme of service for nurses and midwives who have to bear the pains and brunt of remaining on the same salary scale for long, while it also asked for the commencement of the scheme of Internship for nurses and midwives. “If this is not done, it will demotivate nurses and other health workers.” Other resolutions reached at the meeting he said, the association condemned in entirety the noninclusion of nurses in the position of decision-making by the Federal Ministry of Health and federal health institutions, saying such position of Directorate cadre should be created for nurses and such be filled with qualified candidates. Adeniji blamed the festering of quackery in the health sector especially the nursing profession on the inability of the government to recruit more nurses to fill existing vacancies and to fill the job deficit gap.
“Ogiemwonyi is hereby banned for life from engaging in capital market activities in the Nigerian capital market and ordered to pay a penalty of N100, 000 for breach of Rule 1(iii) of the Code of Conduct for Capital Market Operators and Their Employees as contained in the SEC Rules and Regulations made pursuant to the Investments an Securities Act 2007. He is also banned for life from holding directorship position in any public company in Nigeria
for his unprofessional conduct in respect of the activities of the both companies.” Similarly, SEC suspended Omoragbon for a period of five years from engaging in capital market activities and ordered to pay a penalty of N100,000 for breach of Rule 1(iii) of the Code of Conduct for Capital Market Operators and Their Employees as contained in the SEC Rules and Regulations made pursuant to the Investments an Securities
Act 2007. The commission added that pursuant to Section 304 of the Investments and Securities Act 2007 all information on possible criminality in the matter would be referred to the appropriate law enforcement agencies. Some Directors of the company, Mr. Ojetunde Taiwo, Mrs. Ogiemwonyi Olufunke, Mr. Ogiamien Frank, Mr. Adeusi Aladejola Alexander and Mrs Arese Ugwu, were also suspended for a
period of five years from engaging in capital market activities and banned from holding directorship positions in any public company in Nigeria for the said period. A manager in the company, Mr. Eseha Augustine Enejeta, was suspended for a period of one year from engaging in capital market activities and ordered to pay a penalty of N100,000 for breach of Rule 1(iii) of the Code of Conduct for Capital Market Operators and Their Employees.
SOLIDARITY VISIT
L-R: Governors Aminu Waziri Tambuwal (Sokoto); Alhaji Kashim Shettima (Borno); Nyesom Ezenwo Wike (Rivers); Aminu Bello Masari (Katsina); Simon Lalong (Plateau); Atiku Bagudu (Kebbi) when a delegation of Northern Governors’ Forum visited Rivers State....Monday.
Fashola: FG Resorting to Tax Relief to Fund Road Construction To spend N100bn Sukuk bond on 25 major roads works Chineme Okafor and Nnenna Akuma in Abuja Following its claims of huge reduction in its revenues from the oil industry, and the resultant paucity of funds to conveniently carry on with its infrastructure development plans, the federal government yesterday said it would now begin to look towards tax recovery funding schemes to build and reconstruct roads in the country. The Minister of Power, Works, and Housing, Mr. Babatunde Fashola, disclosed this during a progress report meeting in Abuja with contractors handling major road projects for the government. Fashola said the government would as a new push to revive Nigeria’s infrastructure, offer companies operating within tax reliefs to allow them undertake key road projects in the country. He explained that companies with the capacity and willingness to reconstruct existing or build new roads in the country would be encouraged by the government to go ahead, and subsequently claim tax relief as recompense for their investments. Fashola also disclosed that the N100 billion Sukuk bond which the government recently launched would be channeled to fund works on 25 major road networks which fall within the A1 to A4 arteries. By definition, a sovereign Sukuk is an ethical-based investment in which rent is based
on the investment bi-annually and the principal sum paid at the end of a tenor. However, in his response to a question on details of the government’s recent agreement with Dangote Group for the rehabilitation of the Oshodi to Toll Gate highway in Lagos, Fashola said shortly after presentations from the contractors: “Our discussions with the Dangote, yes, we have an offer now beyond what they have done as voluntary which is two kilometres of the Wharf Road, it is an offer to take up the entire length from Creek Road, Liverpool Road, through Apapa, Tin Can, Oshodi, Mile 2, all the way to the Toll Gate. “This is going to be done under a tax recovery order that exists under the Companies Income Tax (CIT) Act. It is not something that is new, but it is something we are going to use more of. Another company Lafarge, is also using that in Cross River State to build a road.” The minister explained that the government was well at home with using tax reliefs to get companies to rebuild the country’s road infrastructure, saying: “We welcome other like minded individuals and companies who have that kind of money to intervene in certain roads, and claim tax relief back.” “What it really means technically is that government is spending in advance the taxes that it should collect to quickly
respond to places where there is pain because some of these companies, if they make profit should pay tax at the end but the government is saying if they spend some of the tax on public infrastructure, they will get some relief. We commend and welcome this initiative. “That is the long term solution to the lock down in Apapa. There will be some discomfort, but as we begin work on that area, people should expect some relief,” he added. On the Sukuk bond, Fashola equally stated: “Sukuk is coming and if it is fully utilised, at least 25 major roads will have some interventions. The truth is that this country is now earning less from what it earned some four years ago, the major revenue source is oil, we are just diversifying to earn money from other sources like agriculture but we are trying to do the best we can with the limited resources that we have. “The Sukuk addresses in part our strategy for providing finance. This is the first ever Sukuk that the federal government is issuing. All we are targeting is to see if we can raise N100 billion, that won’t cover all of Nigeria’s roads but we can target certain roads and if you look at the 25 roads, they are the integral part of the A1 to A4 roads - Lagos to Sokoto highway, Warri to Katsina, Port Harcourt to Potiskum, and Calabar to Maiduguri-they all originate from our ports and
end at the boundaries.” The minister noted that the government was also undertaking repair works on 41 roads across the country that had gone bad from the heavy rains and other weather related issues. He said the meeting was to keep in touch with contractors on the progress of their jobs, especially with considerations to the next couple of months when most of the roads in the southern parts of the country would be heavily engaged. “We are looking at a 10-week window starting from around the end of September to the middle of December when your workers would go on annual leave and what kind of contingency arrangements you would be making so that the operational staff will be on ground to deal with emergencies. “In addition to the major construction works that are going on, we also have rehabilitation works using specific contractors to improve motorability, and we have been working on 41 roads across the country covering each zones and trying to make remediation to them as a result of what has happened during the rainy season. We are getting ready to conclude procurement on that,” Fashola stated. Similarly, he asked shipping firms in the country whose operations at the Lagos Port could be disadvantaged by the repair works on the road leading into the port to consider using other ports in the country.
WEDNESDAY SEPTEMBER 20, 2017 ˾ T H I S D AY
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Guard against Key-man Risk, Emefiele Tells Banks Obinna Chima Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday identified key-man risk in the banking sector as a huge challenge, just as he advised financial institutions to guard against it. Emefiele pointed out that while appreciable momentum had been attained in corporate governance practices in the Nigerian Banking industry, the regulators as well as operators ought not rest on their oars as vulnerabilities were still evident. He noted that the recent economic recession had shown that the financial industry still harbours weaknesses in governance, exemplified by instances of unclear rendition of returns, corporate governance abuses such as unreported losses, huge exit packages for directors, insider non-performing loans, over-domineering executive
management, contravention of regulatory/prudential guidelines and lending limits, poorly appraised credits and weakening of shareholders’ funds, etc. Emefiele said this in a keynote address he presented at the 2017 edition of the CBN-FITC Continuous Education Programme. The 12th edition of the programme was titled: ‘The Next Level of Corporate Governance Practice.’ “The task before us is to determine how best to move our corporate governance regime to the next level as a sector and a country in general. On its part, the CBN shall continue to deploy more robust and risk-sensitive supervisory framework in line with global best practices in consonance with the rapidly changing environment to nip potential crisis in the bud. “To this end, we have stepped up capacity building in our supervisory departments to ensure that our examiners are equipped with
the requisite skills and tools to effectively supervise banks and other financial institutions,” he said. The CBN governor noted that given the crucial financial intermediation role which banks and other financial institutions play in the economy, corporate governance for financial institutions was arguably, of great importance in contrast to governance in nonfinancial companies. According to Emefiele, it was a truism, therefore, that failure of the board in carrying out its oversight functions by checking management excessive risk taking, conflict of interest, undue concentration on short term gains and excessive executive compensation, would fundamentally affect the ability of financial institution to meet their core mandates. He pointed out that safe and sound financial system largely depends on the quality of corporate governance practices which in turn
depends on the quality of the board of directors and their ability to discharge their responsibilities honourably. Emefiele said the failure of organisations such as Enron, Allied Irish Bank, WorldCom, Lehman Brothers, Northern Rock, etc, was largely caused by weak corporate governance practices. “This underscores the importance of effective corporate governance practices to the survival of businesses and indeed economies. Coming home, the challenges we have had in the banking system resulting in regulatory interventions are substantially attributable to governance failure. “Prior to the global financial crisis of 2007 to 2009, it was taken for granted that the banking sector in Nigeria was safe and sound. However, this trust proved to be misplaced as it was realised that none of the 25 banks that scaled the CBN consolidation exercise
was immuned from failure if they operated in a poor corporate governance environment,” he disclosed. He said the central bank beyond strengthening its corporate governance code, had issued a Competency Framework for the banking industry in Nigeria and a revised Circular onApproved Persons Regime to ensure that only Fit and Proper Persons are appointed on the boards of financial institutions. Some other improvements introduced include review of Board of Directors Charters and fixed tenure for CEO/ MD of banks and other executive directors. Recently, the CBN exposed to external stakeholders, the draft Codes of Corporate Governance for six Other Financial Institutions (OFIs), which will soon be issued to the industry. “The role of the independent directors on ensuring sound corporate governance practice is equally significant. The
expectation from them is not just their independence from the management of the business but more importantly vast technical and managerial expertise. “The CBN will in the near future conduct studies to evaluate the effectiveness of independent directors on the board of financial institutions since the practice came into being in 2010. “Without prejudice to the outcome of this programme, it is my conviction that the next level of corporate governance practice by financial institutions in Nigeria is a call for collaborative thinking for a joint action. “The commitment to excellence in corporate governance matters is a shared responsibility. Regulators and operators should always bear in mind that the credibility, resilience, soundness and efficiency of the financial industry rest squarely on good corporate governance regime,” he said.
Omokri: Lai Mohammed, Leave Jonathan Out ofYour Tales by Moonlight on IPOB Ejiofor Alike Former Special Assistant to exPresident Goodluck Jonathan on New Media, Mr. Reno Omokri, has advised the Minister of Information and Culture, Mr. Lai Mohammed, to leave the former president out of his ‘tales by moonlight’ on the Indigenous People of Biafra (IPOB), and concentrate on his job as information minister and not minister for propaganda. Omokri said in a statement yesterday that the insinuations in the press conference given by Mohammed last Sunday, accusing the opposition of sponsoring IPOB was another clear indication that the present administration has not left propaganda mode for proper agenda mode, two and a half year into their tenure. The former presidential aide further stated that the fact that Mohammed mentioned that Nnamdi Kanu preached Nigerian unity during the administration of Jonathan has also portrayed this administration as an administration in propaganda mode. According to him, if the government in which Mohammed serves, knows which opposition members are sponsoring IPOB, then they should identify them, arrest them and then prosecute them. “Ever since Lai Mohammed made his ill advised statement, a principal member of the All Progressive Congress government and the Senate President, Senator Bukola Saraki, has come out to say that the actions in the Southeast are troubling and some of it are unconstitutional. Is he also sponsoring IPOB too? It is our suspicion that Mohammed is talking from history seeing as he criticised the Jonathan government for banning Boko Haram in a statement he released on June 10, 2013, even though the Jonathan government had gone through due process before proscribing that murderous sect,” Omokri said. “Perhaps Lai Mohammed thinks everybody is like him and those he represents. “I also commend the governors
of the South-east for cooperating with the military and in the process saving lives and property. It is a noble act that should not be ignored,” Omokri added. Reacting to the plans by the Buhari administration to extend the military show of force to the South-south and the South-west through Operation Crocodile Smile, Omokri advised the present administration to thread with caution, adding that Nigeria is no longer under military rule. “In a democracy, you separate the military from the police. The military is not meant to fight criminality within a nation because they are trained to fight a nation’s external enemies. It is the police that are trained to fight crime internally,” he said. He argued that when the military starts doing the job of the police and starts fighting or doing what they call a ‘show of force’, the effect will not be to reduce crime but to intimidate people. Omokri reminded Mohammed that the time for propaganda is gone, adding also that the time for blaming Jonathan for all the unfulfilled promises of the APC government is over. “Rome may not have been built in a day, but from day one you could see evidence of builders building up Rome. But what have we seen in the last two and a half years of the Muhammadu Buhari administration? We see a government that from day one has been blaming instead of building,” he said. He also reminded Mohammed that under the Jonathan administration, the ministry of information had annual ministerial briefing where the media and civil society groups interrogated cabinet ministers on the activities of their departments. According to Omokri, “100 days briefing was given to Nigerians on the government’s vision and one year briefings was given to the nation on government activities. An elaborate mid-term briefing was also given by that government to the country on the achievements of the administration.”
HONOURING A JURIST
L-R: Mohammed Abdulahi Abubakar; Gbong Gwom of Jos, Jacob Gyang Buba; his wife, Rakiya, Mrs. Auta; outgone Chief Justice of the Federal High Court Justice Ibrahim Auta, during the public presentation of a book titled: ‘Of Judicial Exceptionalism, Compilation of Selected Judgments of Justice Auta’ in Abuja....yesterday Kingsley Adeboye
House C’ttee Asks Banks to Unfreeze Accounts Without Court, EFCC Caveat Issues final summons to Magu James Emejo in Abuja The House of Representatives Committee on Public Petitions yesterday directed commercial banks to remove restrictions on accounts which do not have caveat from the law courts and the Economic and Financial Crimes Commission (EFCC). This followed revelations that some banks had arbitrarily restricted access on accounts of some customers without reasonable explanation and without any court orders or instructions from the EFCC to that effect. Ruling at the resumed hearing on the petition by former First Lady, Mrs. Patience Ibifaka Jonathan, to the National Assembly over what she described as “persistent, consistent, unwarranted personal and physical attacks” on her, relatives and friends by security agents, Chairman of the committee,
Hon. Abonta Uzoma Nkem (PDP, Abia), also threatened to ensure that interests accruable on such restricted accounts were credited at the prevailing rates. His position followed the submission of the legal counsel to the former first lady, Mr. Ayodeji Adedipe, who raised concerns that several accounts belonging to the petitioner and relatives had been frozen even without appropriate court orders. However, representatives of First Bank, Union Bank, Diamond Bank, Fidelity Bank and Ecobank had struggled to provide convincing explanations on the various restrictions- some arguing they were instructed by EFCC to put a lead on the accounts. But Abonta maintained that commercial bank cannot use the EFCC to cause colossal damage to people by having their accounts frozen for more than a year without
concrete reasons. A member of the committee, Hon. Kingsley Chinda, said it was wrong to place a caveat on citizen’s accounts without court backing. Meanwhile, the committee couldn’t reach a conclusion on the matter as the EFCC failed to make an appearance for the umpteenth time. The chairman said the appearance of the EFCC was critical to resolving most of the petitions and wondered why the commission had declined the committee’s invitations without excuse. Chinda had moved a motion that the EFCC chairman, Ibrahim Magu be arrested and produced at the next sitting but Abonta decided to issue a final summon to the commission, failing which extreme measures would be taken against
the anti-graft agency. Notwithstanding, the committee insisted that the National Drug Law Enforcement Agency (NDLEA) must disclose to the committee, the identity of a whistle-blower who reportedly gave misleading information which had prompted a search on one of the properties of Jonathan. The search turned out futile as no incriminating evidence was found. But, NDLEA also reportedly failed to tender apologies to the former first lady. Representative of the agency, Mr. Femi Oloruntoba, said the sensitivity of its operations would not allow for disclosure of the whistle-blower but the committee insisted he must provide the identity in camerapointing to relevant sections of the constitution to override him. However, the committee adjourned further hearing on the petition till October 4.
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NHIS Decentralises Scheme to States, Commences Accreditation of 57 HMOs Agency not a hub of corruption, says acting executive secretary Senator Iroegbu in Abuja The National Health Insurance Scheme (NHIS) has commenced decentralisation of the health
insurance scheme, extending it to states and beyond employees of the federal government. The Acting Executive Secretary of NHIS, Mallam Atahiru Ibrahim,
Alhaji Alhaji: Secession Not Solution to Problems Bedeviling Igbo Rejects restructuring Mohammed Aminu in Sokoto Former Minister of Finance and Nigerian High Commissioner to the United Kingdom, Alhaji Abubakar Alhaji, yesterday cautioned the Indigenous People of Biafra (IPOB) against overheating the polity, saying secession is not the solution to the problems bedeviling the Igbo nation. He also opposed those clamouring for the restructuring of the country, insisting that Nigeria only requires a purposeful and competent leader irrespective of tribe and religion to take the country to the next level. Alhaji made the assertion yesterday, during a chat with THISDAY at his residence in Sokoto. The elder statesman charged the agitators to sheathe their swords and give peace a chance, stressing that their activities created tension in the South-east region. He maintained that Nigerians should remain as one and that break up of the country was not the solution to the problems affecting the South-east region. “I don’t believe secession is the answer to our problems. We should remain united as one country. Sometimes, I wake up and weep for Nigeria. Buhari said late Chukwuemeka Odumegwu Ojukwu visited him in Daura and told him that he is for one Nigeria not Biafra. And that those clamoring for secession are on their own. “I knew Buhari for a long time and he was my boy in secondary school in Katsina. I was in form six while he (Buhari) and late Shehu Musa Yar’Adua were in form one. In fact, both were in Durbi compound and I was their prefect. So, Buhari will do whatever it takes to unite the country,” he
said. Alhaji also took a swipe at those clamouring for the restructuring of the country, saying they are just playing politics. He emphasised that only compent leadership would take Nigeria to greater heights. “You see, people are just playing politics with this issue of restructuring. I strongly believe that we should have competent leadership to run the affairs of this country. We should focus on getting the right man wherever he is to lead Nigeria whether he is Ibo, Yoruba, Hausa/Fulani, Ijaw, Efik or any other ethnic group. “I don’t believe in the restructuring of Nigeria. And I am against the regional system as practised in the first republic. The states we have now are too many and Nigeria should not have 36 states. “We should have at least 12 states in the federation. It is just that the military were creating states during series of coups to please the people. We have 36 states, 36 state house of assemblies, national assembly, commissioners, and various public office holders. We spend huge chunk of the nation’s revenue in running government and paying public officials,” Alhaji said. He described the privatisation of national assets such as NITEL and NEPA as a failure, saying it did not achieve the desired goal. “I warned the federal government against selling NEPA, NITEL, Nigerian Airways to private investors because we will end up transferring their inefficiency to the private sector. “I believed then that these six strategic parastatals should not be privatised but the federal government failed to listen to the advice. Now where are we heading
Kwara Confirms Two Cases of Yellow Fever Hammed Shittu in Ilorin The Kwara State Government yesterday confirmed two cases of yellow fever in Oro-Ago axis of Ifelodun Local Government Area of the state. The state Commissioner for Health, Hon. Sulaiman Alege, while confirming the development during an interview with journalists in Ilorin, the state capital, said the two cases were identified after a laboratory analysis carried out at a virology unit in Lagos. Alege noted that he had earlier led the state’s epidemiology team for pooling effort and investigation in the affected area and surrounding communities, and took samples of 38 people out of which two were
confirmed positive to yellow fever. He explained that a joint team from the Nigeria Centre for Disease Control, National Primary Health Care Development Agency and the World Health Organisation Country Office are already in the area for further analysis. The commissioner admitted that the area is susceptible to such ailments due to the population and advised residents of the area and the state in general to take personal hygiene more seriously. Alege who put the ages of the two patients at 10 and 12 said the government would strengthen its sensitisation programmes with a view to containing the spread of the ailment.
disclosed this yesterday during a briefing with journalists in Abuja in order to address what he noted as negative about the Scheme. Ibrahim commended the media for their restraint from joining the onslaught against NHIS but assured that the agency will commence the accreditation of Health Management Organisations (HMOs) in order to check the excesses in the system. He said the accreditation exercise will last for two months ,and also pave way for a new structure in the scheme. Speaking further, he noted that the management is decentralising the operation of the NHIS and encouraged the states to have their own agency with functional operation . Ibrahim stressed that over six million Nigerians are benefitting from the scheme from its different angles. He noted that the employees of the federal government make up the bulk of the enrollees of the scheme, while encouraging other citizens to be actively involved especially those in the private sector to make themselves available. Ibrahim said: “Let us remind all that health insurance is a contributory arrangement, whereby only contributors are expected to benefit from the prescribed services. “In this context, we have achieved a near 100 per cent coverage of all contributors
in the formal sector, made up of employees of the federal government, whose contributions make the bulk of our pool of funds. “We are also currently covering other Nigerians on other different platforms, such as: TISHIP, CBSHIP, MCH and MDGs. To be able to extend coverage to other less privileged citizens often called ‘vulnerable’, the scheme looks up to government to provide funds for their coverage through special funding mechanisms, as they are clearly known to lack the capacity to pay for themselves. This is because there can be no free coverage in an insurance arrangement. Only contributors can benefit.” The NHIS boss, while speaking on the issue of corruption, assured those concerned that various agencies of the government are handling such issues and doing all it takes to curtail the effect in the scheme. Reacting to the punitive measures for culprits in the scheme, Ibrahim warned that those who are abusing the privilege of the office being assigned to them will be made to face the wrath of the law. According to him, the move to smear the image of the agency is unacceptable, adding that the NHIS staff are honest people with one or two infractions He said: “We want to assure the media and Nigerians that the
scheme, as an institution, welcomes all attempt to check the excesses of errant stakeholders, towards making the industry safer and stronger. “In the process, the scheme also strongly supports the rule of law, whereby anyone found wanting in the course of the operations of the scheme, whether on the inside or outside, should be handed over to the agencies of government with the appropriate mandate to make such people accountable, as in all decent societies.” “However, it must be urgently stressed that the attempt to smear the corporate image of the scheme as a hub of corruption is both untrue and unacceptable. “Rather, it is those who have been abusing their privileges around the Scheme that should be identified and made to face the consequences of their actions in full measure,” he added. Ibrahim said it is also important to put it on record that NHIS has not done badly in the implementation of its mandate, 12 years after its official launch. For instance, he said the Scheme, through the diligence and integrity of its staff, grew the pool of funds from N3 billion at inception to what it is today. Ibrahim assured that NHIS is rapidly emerging from the distractions of the last one year, and will be giving a lot of energy
to its activities as they go forward. He listed these areas to include: SSHIP, VCSHIP, Accreditation of HCFs, CBSHIP, Mop-up Registration, Quality Assurance, He reassured Nigerians that the shceme will continue in its tradition of a socially-responsible public institution, and will require the critical support of the media in the process, as in the past. In the same vein ,the General Manager, Standard and Quality Assurance, Dr. Chris Amadi, disclosed that plans are being put in place to reaccredit the 57 HMOS ,with ministerial approval. Amadi said the there are close to 13,000 hospitals on the list ,with strong reinforcement team who manages the standard for the scheme . Also, the General Manager, Informal Sector, Hajiya India Anibilowo, disclosed that the NHIS have sanctioned health care facilities that are not sanctioned in tines past . Anibilowo, urged enrollees to give regular feedback to the management on the performance of the HMOS,so that there would be credibility in the system . “The standard that we have set is high ,we have deployed desk officers in high density areas where there are numerous enrollees,” she said.
REWARD FOR RESOURCEFULNESS
Human rights lawyer, Festus Keyamo (SAN), flanked by his sisters, Mrs. Ruth Omonigho (left); Mrs. Love Epidi, during the conferment of Senior Advocate of Nigeria on him in Abuja.....Monday
Buhari PassesVote of Confidence on His Ministers, APC Nnenna Akuma in Abuja Contrary to the sentiments shared by Nigerians on the performance of some ministers and other top functionaries in the President Muhammadu Buhari’s government, the president last Monday passed a vote-of-confidence on some of his ministers, saying they have been working creditably well. Speaking at the 2017 edition of annual management conference of the Nigerian Institute of Management (NIM) in Abuja, the president claimed that key officials and decision makers in his government have so far discharged their duties well. He also passed similar vote-ofconfidence on his party, the All Progressives Congress (APC),
members, adding that some of them belonged to the NIM, and have employed the tenets and ethics of the institute to help him run his government. “I recognise that some key decision makers in my administration and our great party who are members of the Institute are making great strides and discharging their duties creditably. I wish to also point out that NIM has been contributing immensely to nation building over the years especially in the area of capacity building,” Buhari said. Notwithstanding his claim that his ministers and party officials have being efficient in helping him run the affairs of the country, the president, however, stated that corrupt practices among Nigerians
and in government institutions remained a key challenge to his government’s plan for the country. He said for Nigeria to achieve the kind of economic prosperity she dreams of, she would have to show immense dislike for corrupt practices that negatively impacts on her economic efficiency. According to him, “To set this country on the path of greatness and prosperity, complete elimination of all forms of corrupt practices must be in the front burner and our collective consciousness always. “You will agree with me that great nation is the reward of great leadership built on good governance with strict adherence to the ideals and principles of corporate governance. This is our motivation and value proposition.
My administration will therefore continue to fight corruption and associated social vices at all levels until they are exterminated from our body polity. “The Nigerian project is faced with several challenges on every facet of the society and the solutions to these challenges must be fast tracked if we must get the economy up and running again. I urge the Institute to sustain its current efforts in ensuring professionalism and good ethical conduct among its members and Nigerians in general.” The president equally called on the NIM to partner the National Orientation Agency (NOA) which he said has the right values on corporate governance that Nigerians could learn from.
WEDNESDAY SEPTEMBER 20, 2017 ˾ T H I S D AY
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Parents, Students Commend ASUU for Calling off Strike NANS asks FG to meet terms of agreement
University students have expressed happiness over the decision by Academic Staff Union of Universities (ASUU) to call off its five-weeks old strike. Some of the students told the News Agency of Nigeria (NAN) in Yenagoa yesterday that they were glad to hear that the union had called off their strike. ASUU on Monday suspended its five-week old strike following a meeting with the federal government’s delegation. Francis Alazial, a final year student of Niger Delta University (NDU) Amasomma, said he was short of words to express his
happiness over the call off. He said: “I cannot express my joy since I heard the news that ASUU had called off the strike. “I am in my final year and about to finish my semester examination when lecturers commenced the strike.” Another 300 level student of NDU, Paul Semion, described ASUU decision as a welcome development, saying students would now resume normal academic activities from Wednesday. He, however, called on the federal government to keep to the agreements reached between
it and the lecturers so as not to disrupt academic activities in universities again. “The federal government should try as much as possible to keep to the promises reached to ensure uninterrupted academic activities in future,” he added. Similarly, most of the parents who spoke with journalists on the issue expressed gratitude to ASUU and government for making it possible for academic activities to resume. They, however, advised lecturers to always go for dialogue in resolving dispute rather than
resorting to strike. Meanwhile, the National Association of Nigerian Students (NANS) has commended the federal government and ASUU for resolving their stand-off. NANS’ President, Mr Chinonso Obasi, in a statement yesterday in Abuja, said suspending the strike had shown dialogue was the best way of settling industrial disputes. Prof. Biodun Ogunyemi, ASUU President, had said the union decided to conditionally suspend the strike in view of the timeline of October 2017 for
the implementation of the signed agreement. Obasi said suspending the strike was a welcome development that would bring relieve not only to the students but also their parents. He called on the federal government to equally demonstrate a sense of responsibility and endeavour to comply with the agreements reached in order to avert another level of face-off with ASUU in the near future. “The falling standard of education and its effect on the nation’s future human capital is regrettable.
“The federal government should prioritise investment in the education sector for the benefit of the nation. “A situation where students are compelled to spend longer time than necessary for a particular course of study on an account of incessant strikes is counterproductive,” he said. He said that students were always at the receiving end of strikes, hence the need for ASUU to always consult students’ leadership as critical stakeholders before declaring or proceeding on strike in the future.
AMCON: We Didn’t Take over Kashamu Hotels The Asset Management Corporation of Nigeria (AMCON) yesterday clarified that it did not take over the hotels of an Ogun State politician, Senator Buruji Kashamu, as reported yesterday. It reiterated that the Best Western Hotels in Ikeja and Victoria Island, Lagos, that it took over belong to the Group Managing Director of Suru Worldwide Ventures Nigeria Limited, Mr. Edward Akinlade. Also, Kashamu’s media office has described as untrue, the media reports that AMCON has taken over some hotels belonging to the lawmaker. A statement issued by the Media Adviser to Kashamu, Austin Oniyokor, said: “The report is a mere fabrication and a desperate attempt by the senator’s detractors to link him with an issue that does not concern him in any way. “There is no court order permitting AMCON to take over any of the Senator’s properties. He does not have any hotel in Ikeja
and the one in Victoria Island has since been rebranded. It is now BWC Hotels. The hotel is being managed by a team of expatriates and local personnel. “It should be pointed out that Best Western is an international franchise that can be bought by anyone who can afford the fees. The chain of hotels under the Best Western brand are independently owned and operated. “Thus, if Best Western Hotel in Ikeja or anywhere has any issues with AMCON, it does not in any way concern Senator Buruji Kashamu. Such hotels have their promoters, directors and shareholders who are separate and distinct individuals. “We wish to assure all the fans, friends and associates of the Kashamu that there is no cause for alarm. None of his properties is being occupied by AMCON or any agency of government,” the statement added.
Melaye Warns INEC Against Flouting Court Order over His Recall Yekini Jimoh in Lokoja The embattled senator representing Kogi West senatorial district of Kogi State, Dino Melaye, has said his recall process being undertaken by the Independent National Electoral Commission (INEC) could be rendered null and void if the commission does not adhere to a certain order by the Federal High Court. Just last Monday, INEC released the amended timetable and schedule of activities for the senator’s planned recall. Melaye, who gave the warning yesterday via his twitter handle, said any action taken by INEC on his planned recall without first complying with Justice Nnamdi Dimgba’s order requiring him to have two weeks to study the so-called constituents in the documents after service on him would render such action void. According to him, such move would be in total disobedience of the court order. Melaye said: “All Progressives Congress (APC) is ready to follow this issue with careful adherence to due process, diligence, rule of law and submission to constitutionalism.
“It is in the public domain that an Abuja High Court yesterday had thrown out INEC’s petition seeking alternative means of substituted service, of which the court declined and declared that it was hasty and unnecessary. It therefore adjourned till September 28, 2017, for all parties to appear. “We declared that any rush or push by INEC to act is declared as null and void, unconstitutional and of no effect. It will also amount to seeing INEC, a commission under the government and a supposed independent body as a co-petitioner in entire recall drama. “Therefore, we call on our great party members, supporters and the good and loyal people of Kogi West not to be worry as we are on top of the entire gang up called recall. “We sincerely urge you all to remain calm and be law abiding as agents of darkness and those who have brought untold hardship to the people of the state via bad governance cannot recall the best senator of the year 2016. Politics is all about the people, the masses and not about the few greedy individual who continue to misdirect our common resources and affairs.”
BRAND EXECUTIVES
L-R: Executive Director, Business Development, Center for Values In Leadership, Isioma Utomi; Managing Partner, Brandzone Consulting LLC and Convener, National Branding Conference, Chizor Malize; Chairman, STB McCann Group and Co-Chair, National Branding Conference Advisory Board, Sir Steve Omajafor; and Group Head, Marketing and Corporate Communications, First Bank, Nigeria and Chairperson, Conference Planning Committee, Folake Ani-Mumuney, at a press conference on the upcoming National Branding Conference in Lagos... recently
FAAN Workers Protest Planned Concession of Airports Chinedu Eze in Lagos and Hammed Shittu inIlorin Workers of the Federal Airports Authority of Nigeria ( FAAN) under the aegis of the Air Transport Service Senior Staff Association (ATSSSAN) and the National Union of Air Transport Employees (NUATE) yesterday staged a protest to express their disapproval of plans by the federal government to concession the Lagos and Abuja Airports. A fortnight ago, the federal government gave approval for the concession of the nation’s four major airports, starting with the Lagos and Abuja Airport. The workers re-emphasised their opposition, arguing that government was not transparent in the process and that it would lead to mass sack of workers without any plan by government to protect their interest. Scores of FAAN workers stormed the Freedom Square leading to the entrance of the FAAN’s headquarters to draw attention to what they described as the illegal selling of the airports to people who are unknown to them. President of ATSSSAN, Illitrus Ahmadu, said the workers were opposed to the concession of airports because the template is not clear to them and the parameters
being used by government to select the would be concessionaire. Ahmadu said the workers would use every instrument at their disposal to battle government to frustrate the concession of airports. He said the unions must be united to protect their collective interest of protecting their jobs. Also speaking, General secretary of National Union of Air Transport Employees (NUATE), Olayinka Abioye, said the unions would mobilise to frustrate airports concession moves by government. He said government needed to engage the unions before government could consider the concession of the airports so that every stakeholder would be carried along in the process. Abioye said issues that would arise from the concession of the airports including job losses should be properly looked into, noting that government has to define what it actually wishes to concession at the airports and remarked that most services and parts of the airport had already been concessioned by FAAN. He alleged that the Minister of State, Aviation, Hadi Sirika, should demonstrate transparency on the concession of airports. He said FAAN has 64 legal
cases over concessions that have not been resolved, yet government wants to go ahead to concession the airports. Abioye vowed that despite approval for the concession by government, aviation unions would mobilise against the concession of airports. Abioye alleged that Sirika has not shown transparency in his handling of issues in the industry and canvassed corporatization or commercialisation of FAAN, to form airport companies to bring about effective airport systems. He added that one of the reasons why the airports are not run efficiently is unbridled interference in their management by government officials in the Ministry of Transportation and the presidency. At the Ilorin International Airport ATSSAN and NUATE members yesterday equally protest the concession of some airports by the federal government. The workers blocked all roads leading into and out of the airport. Some were also seen with placards with inscriptions such as: ‘No to concession because is evil’, ‘Sirika must go - enemy of progress’, ‘No to airport concessioning,’ among others. The Chairman of ATSSAN,
Alonge Isaac, while speaking journalists during the protest, said they are all part of government but that what they are after was for things to work out well for all in the aviation industry. According to him, “It usually pain us when things are not working out fine.. What is government mission for the concession of airport? We are saying no to concession with one voice. We want government to come to round table with us and see how we can join hands to make sure that things work out perfectly.” Also speaking, the Secretary of NUATE, Sanni Abdulazeez, disclosed that the protest was suppose to hold in Abuja and Lagos alone but later got call late last night for all airport workers to join it. He said: “There is nothing wrong in concessioning but due process must be followed, they should discuss with the workers too because they are also stakeholder. Government should come to a round table with the workers and seek their opinion. It is not a welcome idea for government to just announce concession in the media without considering the interest of the workers and other stakeholders.”
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House Passes Amended Bill on Seed Industry Ogbeh derides bloggers on yam export Olawale Ajimotokan in Abuja The House of Representatives has passed the amended bill on the Agricultural Seed Industry for assent by President Muhammadu Buhari. The Chairman of House Committee on Agriculture, Hon. Tukur Muhammad Mongunu, made this disclosure yesterday at the Seed Fair and Farmers’ Field Day in Sheda, Abuja. Mongunu said the bill had gone through second reading and would be sent for consideration before the Committee of the Whole, when the National Assembly resumes from the Sallah recess. He said former President Goodluck Jonathan withheld assent when the bill was first passed by the National Assembly, before the legislative sessions of the 7th assembly ended. He said the House attached enormous importance to the bill,
which when passed, will uproot quackery in the seed industry and encourage only genuine entrepreneurs. Mongunu clamoured for a robust seed industry regulated by the National Agricultural Seed Council (NASC), empowered to provide bite to the sector. He said the National Assembly would invoke the constitutional provisions on the passage of bills by overriding the President should he decide not to veto the bill. Farmers nationwide have been complaining against the supply of low quality seeds by government funded agencies and international donor organisations, which they said was hampering the national food security. In response, Mongunu said the passage of the bill into law would empower NASC to arrest and prosecute anybody that imports or exports adulterated seeds.
FG Appoints Bintube as New Non-executive to BOI Board The Bank of Industry (BoI) has announced the appointment of Mohammed Bintube as a new Non-Executive Director to its Board. Bintube, a former Managing Director and Chief Executive Officer of Jaiz bank Plc, has over 30 years
of ethical and transparent corporate governance experience garnered at reputable boards at both public and private institutions. It is expected that his appointment to the Bank’s board will further aid the realisation of the Bank’s mandate as he brings his wealth of experience to fore.
“Once you are able to solve the problem of seed, then you have solved 50 per cent of productivity problem in the agriculture sector,” he said. In a bid to curtail sharp practices in the sector, the Director General of NASC, Dr. Philip Olusegun Ojo, issued new seed regulations and vowed to clamp down on producers of fake and substandard seeds. He said all seed variants produced by research agencies and international donors will now carry approved NASC certification tags different from
the seed producer as prescribed by the Nigerian seed law. Some of the sharp allegations against the operators included inscription of false information on label, use of trickery to mislead third parties on quality of seeds offered for sale, distribution for animals or human consumption of seeds treated with harmful substance and production and marketing of seeds without approval. Meanwhile, Minister of Agriculture, Chief Audu Ogbeh, has defended the government yam export policy, subjected to a
barrage of criticisms by bloggers and social media users when the programme started in July. He said Nigeria’s yam was now highly in demand in the UK and the United States, where three tubers of yam now sell for $35. He accused the bloggers of ignorance, saying they delved into a subject they knew nothing about. “All the bloggers were saying things they knew nothing about. For 30 years, Nigerian yam was exported through Ghana. Now we want to export directly to Europe through Nigeria,”Ogbeh said.
The minister, who mooted government efforts to ensure zero rejection of Nigeria’s exports, alleged that too many crooks were operating in Nigeria agro industry. The comment was a response to allegation of Seed Entrepreneurs Association of Nigeria (SEEDAN) of indebtedness to banks. He said in 2015, the ministry was presented with an inflated claims of N63 billion by some of the agro dealers, who presented many bogus bills with the intention to defraud the ministry.
Abia Residents Demand Peace, Hold Rally to Celebrate Return of Normalcy Emmanuel Ugwu in Umuahia Hundreds of residents of Umuahia the Abia State capital yesterday held a rally for peace and called for the sustenance of peace in the embattled city following a week of tension when soldiers of operation Python Dance II swooped on members of the Indigenous People of Biafra (IPOB). The rally, which attracted people from all walks of life, was organised by Vision Africa Organisation, a faith-based non-governmental organisation which runs a radio station in Umuahia. The participants walked round
major streets of Umuahia singing peace songs and carry placards with peace messages such as, ‘We want peace; peace is paramount; peace, peace, peace.’ Speaking with journalists after the peace walk and rally, the President of Vision Africa, Bishop Sunday Onuoha, said the people of the state trooped out to make a statement in favour of peace in the state. “What we have done is to tell people that there is peace in Abia State (hence) people dance and celebrated peace,” he said, adding, “Let peace reign so that the poor, the mighty would live in peace.”
The Methodist cleric advised all the aggrieved and agitators to bring their problems to the negotiating table and anybody coming to the negotiating table should be ready to make sacrifice and make compromise for peace to reign. “No mater the interest, no matter the passion anybody has on nay issue, it should be brought to the negotiating table for discussion,” he said. On the clamour for restructuring, the Vision Africa President called for proper understanding of what should be done as people are expressing different meanings
on the issue, noting that without consensus of understanding of the issue Nigerians would continue to move in a circle. He also has advice for President Muhammadu Buhari, saying that it was high time Mr. President started making himself available for Nigerians to feel his presence because opinions from the grassroots suggest that Buhari was not being represented well. “Mr. President should not be withdrawn. Nigerians want to see their president, feel and touch him,” Bishop Onuoha said.
T H I S D AY ˾ WEDNESDAY, SEPTEMBER 20, 2017
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WEDNESDAYSPORTS
Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com
WA F U C U P O F N AT I O N S
Eagles Regain Their Confidence, Set Sight on Trophy To play Benin Republic in Thursday’s semi final Olawale Ajimotokan with agency report After defeating host country Ghana 2-0 to secure a place in tomorrow’s semi final of the ongoing WAFU Cup of Nations, home-based Super Eagles forward, Friday Ubong, has said that the Nigerian team has resolved to win the tournament in Ghana on Sunday. Two second half goals by Tony Okpotu and Peter Eneji secured maximum three points for Nigeria after a stuttering start in the group games where they were held to goalless draws by Mali and Guinea. “I wish to state here that we have not come to Ghana just to take part in the championship, but to do our assignment properly and bring the trophy back to Nigeria, this has been our target since the start of the competition,” he told SCORENigeria yesterday. The Akwa United star also revealed that the entire team was fired up to beat Ghana and reach the knockout stage of the tournament. “It was not an easy task,
but we (the players) were determined and that was why we won the match,” observed Ubong who saw 82 minutes of action against Ghana on Monday night at the Cape Coast Stadium. “We played the game as if it were our last game in our entire career because we knew what was at stake,” recalled Ubong. Nigeria will now battle the winners of Group B, Benin Republic that defeated Niger Republic 2-1 yesterday for a place in Sunday’s final game. Meanwhile, President of the Confederation of African Football (CAF) Ahmad will lead his executive committee to the final of this year’s WAFU Cup in Ghana on Sunday. The WAFU Cup final will be staged on Sunday in Cape Coast, while the CAF executive committee will meet in Accra the previous day. The WAFU Cup has enjoyed a revival with a new sponsorship from FoxSports Television. The overall winners of the sub-regional tournament will earn a prize money of $100,000.
Home-based Super Eagles Friday Ubong (right) and Emmanuel Ampiah of Black Stars of Ghana battling for ball possession during their WAFU Cup Group A game in Cape Coast, Ghana…on Monday night
Rivers to Set up Real Madrid Aiteo Reaffirms Commitment to NFF Sponsorship Football Academy Affiliate Ernest Chinwo in Port Harcourt Rivers State Government has commenced the process for the establishment of a football academy that will be affiliated to Spanish La Liga giants, Real Madrid Football Club. Rivers State Governor, Nyesom Wike, yesterday met with officials of Interact Sports and Real Madrid Campus Experience with Rivers State Commissioner for Sports, Mr Boma Iyaye, present. Briefing journalists after the meeting Iyaye said a Memorandum of Understanding (MoU) would be signed and the location
of the academy identified. He said: “This meeting is for us to work out modalities for the setting up of an academy that will be affiliated with Real Madrid Football Club. “The academy will scout talents across the state and develop these talents.” Vice President of Interact Sports, Mr Kazma said that the group was in the state to establish the football academy. Kazma assured football stakeholders that the academy will be run in line with international best practices to groom footballers who will be graduate to become international stars.
Oyinlola, Ojomo Win International Pairs President, Nigeria Golf Federation, Prince Olagunsoye Oyinlola and his pair, Austin Esosa Ojomo stole the show in the third in the series of International Pairs competition decided at the golf section of Ikoyi Club on Sunday. To emerge winner in the keenly contested competition, the duo garnered 124-stableford points beating 49-other teams that took part in the competition. The team dubbed the ‘Indomitable Lions’ shot 60-stableford points on their opening round and closed with another 64 points to top the pack. The duo of Abubakar Lawal and Evelyn Oyome
came second, while team Tim Ayomike & Akeem Lawal was third. With the result, Oyinlola and Esosa would be representing Nigeria at the World Finals of International Pairs Golf Championship in Portugal between November 5-10. Meanwhile the champions have promised to be worthy representative in Portugal later in November. “This is a good opportunity to help share the good news about Nigeria. Winning this competition will help us put Nigeria golf on the world stage. We will do our best for the county in Portugal,” they promised.
Technical Partners of the Nigeria Football Federation (NFF), Aiteo Group, has restated its commitment to the multi-billion Naira sponsorship agreement it entered with the federation on May 1, 2017. In apparent reaction to news reports that it was considering pulling out of the sponsorship of the Federation Cup now renamed Aiteo Cup due to poor derivatives the oil and gas giants said in a statement yesterday that such speculations were unfounded. Executive Vice Chairman of the group, Mr. Benedict Peters, insisted that the multi-billion sponsorship deal, was a management decision meticulously taken upon due consideration of its benefits to the development of football in Nigeria, tremendous social capital and unifying effect on every stratum of Nigeria endeavour. “The deal is effective for five years and we have no plans to renege on our decision. We
will continue to underwrite the costs of organising the competition (Aiteo Cup) for the men and women’s finals, provide solidarity support for the state football associations, expenses and indemnities of match officials, support for clubs, media, branding/ activation as well as prize money to winners. “This is at the heart of our group’s social capital investment vision of bequeathing a virile and excellent soccer culture and administration to Nigerians, which besides being Africa’s best, creates economic opportunities and wealth for generations of Nigerians,” the Aiteo executive vice chairman restated. Contrary to the report of threat to pull out of the sponsorship, Peters said that the Aiteo Group was satisfied with the handling of the partnership so far by the NFF. “As the Official Naming Rights Sponsor of the NFF Federations Cup, now
christened Aiteo Cup, Aiteo will continue its funding of the tournament - Nigeria’s longest running football tourney,” he assured football stakeholders in the country. The Aiteo chief also praised the Amaju Pinnick led board of the NFF for the significant successes recorded since it took over the payment of the emoluments of coaches of the federation. “The NFF has recorded significant improvements in its management and execution of its national team objectives within the short term of our relationship. We look forward to an Aiteo powered football administration that would make positive history with its national teams. “Aiteo’s relationship with NFF is unfettered in any way, and the organisation will continue to ensure that NFF gets the required financial support it needs to perform optimally. We will ensure that all stakeholders are kept
abreast of any development in this regard. Also speaking on the partnership, President of the NFF, Amaju Pinnick maintained yesterday that there was no truth in the report of Aiteo threatening to pull out of the sponsorship of the Aiteo Cup. “AITEO Group has continued to express delight at the visibility they are getting from the relationship with the Nigeria Football Federation. “Top officials of AITEO Group were with the NFF in Uyo and Yaounde during the FIFA World Cup qualifiers against Cameroon earlier this month, and they have continued to talk about their satisfaction with the relationship and the way everything is going. “The story was borne out of sheer mischief. The attempt was to rock what amounts to be the biggest partnership in the history of Nigerian Football but it has failed,” concludes the NFF chief.
AFN Elections:Yayock Loses CAS Suit against Dalung The Court of Arbitration for Sports (CAS) in Lausanne, Switzerland has thrown out an appeal suit filed by North West Zone aspirant to the board of the Athletics Federation of Nigeria (AFN), Charles Musa Yayock, against the Minister of Youth and Sports Development, Solomon Dalung. Yayock had gone to CAS to contest his loss into the AFN board in the Ministry of Youth and Sports organised National Sports Federations elections in May this year. In his ruling dated September 14, 2017, the
President of the CAS Appeals Arbitration Division, Corine Schmidhauser, stated that the suit with registration number CAS 2017/A/5293 between Charles Musa Yayock and the Minister of Youth and Sports Development had been terminated and removed from the CAS roll. According to the CAS president, in the absence of any agreement from the Respondent to continue the present procedure and considering that no proof of timely filing of the appeal brief was submitted by the appellant, Yayock’s request for
reconsideration was rejected as it was deemed withdrawn in accordance with article R51 of the Code Yayock filed a statement of appeal with CAS against the Minister of Youth and Sports in respect of the Electoral Committee’s announcement on June 13, 2017 at the mainbowl of the National Stadium Abuja declaring Alhaji Ibrahim Gusau as the duly elected president of the AFN. CAS invited the appellant to complete his statement in accordance with article R 51 of the Code of Sports- related Arbitration within a deadline
of two days which he failed to provide proof of timely filing of his appeal brief. Consequently, his appeal was deemed to have been withdrawn. This technically puts to rest the controversy on the election of Ibrahim Shehu Gusau as the president of the AFN. The former member of the Federal House of Representatives emerged as the winner of the North-west zone ticket to the AFN board before emerging as president at the Abuja poll supervised by the electoral committee set up by the sports ministry.
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Mohammed to IPOB “No nation, not Nigeria, will allow that to happen unchallenged. The fact that Boko Haram festered because it was not decisively tackled by the immediate past administration meant we should never again give room for any organisation to threaten the corporate existence of our country” – Minister of Information, Alhaji Lai Mohammed justifying the federal government’s decision to nip activities of the Indigenous People of Biafra (IPOB) in the bud following the group’s clash with the army in some southern states recently.
FEMIFALANA GUEST COLUMNIST
ElectoralJusticeinNigeria,Kenya B
oth Nigeria and Kenya have been battling with electoral malpractice and political violence for over a decade. The 2007 general election in Nigeria was truly a “do or die” affair as declared by President Olusegun Obasanjo. Hundreds of people were killed by security forces for protesting the brazing manipulation of the results of the general elections. The Ahmed Lemu presidential panel set up by President Goodluck Jonathan to probe the mayhem that greeted the announcement of the result of the 2011 presidential election found that 943 people were killed while 838 others were injured. While the Federal Government paid over N10 billion as reparation to the victims of the riots, it failed to prosecute the 626 who were arrested in connection with arson, culpable homicide and other grave offences perpetrated due to official impunity. In 2008, the brutal killing of over 1000 people in Kenya over post election violence led to the setting up of a panel of inquiry headed by Mr. Kofi Anan, a former Secretary-General of the United Nations. Based on the report of the inquiry Messrs Uluru Kenyatta and William Ruto were charged with crimes against humanity at the International Criminal Court (ICC) for allegedly masterminding the politically motivated killings. Notwithstanding the election of both suspects as President and Vice President of Kenya respectively in the 2013 general elections the cases continued and were eventually struck out due to want of diligent prosecution. Many Nigerian commentators have commended the Supreme Court of Kenya for the revolutionary decision to annul a presidential election. Not unexpectedly, such critics have censored the Nigerian judiciary for invoking the nebulous doctrines of substantial compliance to uphold the results of fraudulent elections. Some lawyers have gone to the extent of blaming Nigerian judges for the undue delay in the hearing of election petitions. With respect, the comparison of the decisions of the Supreme Courts of Nigeria and Kenya on election petition is rather odious. Hence it has become necessary to review recent developments in the electoral jurisprudence of both countries.
Fidelity to the Kenyan Constitution Based on gross irregularities and violence which had marred the 2007 general elections which led to political violence in Kenya the members of the political class decided to use the instrumentality of the law to sanitize the political system. Thus, in 2010, Kenya decided to enact a new Constitution through a popular and democratic process. At the end of the day, the Kenyan people produced one of the best constitutions in Africa. To prevent a delay in the hearing of election petitions section 140 of the Constitution stipulates that presidential election petitions shall be shall heard and determined within 14 days. It is pertinent to recall that the Supreme Court of Kenya had dismissed the petition filed by Mr. Raila Odinga against the 2013 presidential election won by President Uhuru Kenyatta on the ground that it was conducted in accordance with the Electoral Act. See Raila Odinga & 2 others v Independent Electoral & Boundaries Commission & 3 others [2013] EKLR. That decision was largely influenced by Nigerian cases, which were relied upon by the Court. But the Kenyan parliament decided to review the electoral system by enacting the Electoral Act 2016 to provide for electronic voting and the appointment of the chairman and members of the Independent Election and Boundary Commission through an interview conducted by a selection board as well as the Offences Act 2016 to provide for electoral offences and penalties. It was on the basis of such
Mr. John Kerry was particularly patronizing in its endorsement of the results of the election. While asking Mr. Odinga to move on and stop protesting the election results Mr. Kerry said the election was fair and free. The election observers of the Commonwealth and African Union equally claimed that the election was credible and that its results should not be challenged. But the judgment of the Supreme Court has questioned the credibility of the choreographed sanitisation of the fraudulent election results by the so-called representatives of the international community. Not a few interest groups called Mr. Odinga a bad loser for approaching the Supreme Court for legal redress. But it turned out that the filing of the petition doused tension in the country as angry protests had led to the killing of not fewer than 24 people by security forces.
INEC Chairman, Professor Mahmood Yakubu progressive review of the relevant laws that the Supreme Court had no difficulty in upholding the petition of Raila Odinga against the election of President Uhuru Kenyatta held in Kenya on August 8, 2017. See Petition 1 of 2017. Although the petition was filed on August 18, 2017 the Supreme Court delivered its judgment two weeks later. That was made possible with the aid of technology. The Court allowed a live coverage of the proceedings by the media. Instead of spending precious time on calling hundreds of witnesses to give oral evidence or adopt written depositions and be cross examined by opposing lawyers the electoral body was ordered by the Court to produce the uploaded results of the election. The registrar of the court was directed to collect the results and other election materials from the IEBC for examination by the parties and the court. In the historic judgment the court validated electronic voting. However, the court found that the massive irregularities in the transmission of election results had compromised the integrity of the election. In annulling the results of the presidential election the Supreme Court held that the IEBC had “failed, neglected or refused to conduct the presidential election in a manner consistent with the dictates of the Constitution.” Although the “reasoned and considered judgment” would be made available not later than 21 days the summary has confirmed the unqualified commitment of the court to the rule of law. Before the judgment was delivered Chief Justice Maraga had rightly set the tone for the business of the day when he noted “the greatness of any nation depends on its fidelity to its Constitution and adherence to the rule of law and above all respect to God.” Since it is the first time that any court has annulled the result of a presidential election in Africa the judgment has far-reaching implications for democracy and rule of law in the continent. Although the details of the judgment have not been provided the summary of the findings and orders made by the Court have sufficiently confirmed the independence of judiciary of Kenya.. It is particularly significant to note that the Court rebuffed pressures from local and foreign economic interest groups who had wanted a judicial endorsement of the malfeasance, which marred the presidential election. While reacting to the judgment the petitioner, Mr. Raila Odinga of the National Super Alliance (NASA) said that it “marked a historic day for the people of Kenya and by extension for the people of the continent of Africa.” He faulted international election observers who had attempted, in their reports, to legitimise the electoral fraud by saying that the election was credible, fair and free. One of the election monitoring groups, the Jimmy Carter centre led by former United States Secretary of State,
Electoral Injustice in Nigeria Although the petition against his election was dismissed by the Supreme Court, President Umaru Yar’Adua said that the election was fraudulent and proceeded to set up the Mohammed Uwais-led panel to probe the conduct of the election and make appropriate recommendations. The panel recommended inter alia that appointment of the chairman and members of INEC should be by advertisement, setting up of electoral offences tribunal and conclusion of all petitions before the inauguration of elected governments. The Ahmed Lemu presidential panel set up by President Jonathan in 2011 made additional recommendations to guarantee credible elections. But the Peoples Democratic Party and the All Progressives Congress have refused to implement the recommendations of both panels. However, amendments were made to the Constitution in 2010 and 2011 while a new Electoral Act was enacted in 2010 by the National Assembly. The Electoral Act has been subjected to many amendments. Pursuant to section 52 of the Electoral (Amendment) Act 2015 the effect that “voting at an election shall be in accordance with the procedure determined by the Independent National Electoral Commission” INEC introduced the use of card readers for accreditation of voters. In spite of the opposition of the then ruling party, (the Peoples Democratic Party) the Attahiru Jega-led INEC conducted the 2015 General Elections with the aid of card readers. Manual accreditation of voters was however allowed if the card reader machine malfunctioned. Accordingly, many tribunal and judicial divisions of the Court of Appeal nullified elections where voters deliberately ignored the use of card readers for accreditation. Curiously, the Supreme Court set aside the annulment of some governorship elections on the ground that INEC acted illegally by introducing the use of the card reader. In a critique of such judgments I was compelled to challenge the apex court for not making any reference to the relevant provision of the Electoral (Amendment) Act 2015 which had empowered INEC to determine the procedure of voting at an election. (Seehttp:// www.thisdaylive.com /index.php /2016/04/05/ the-legality-of-card-reader) But it is pertinent to point out that while election petition tribunals and the Court of Appeal have not hesitated to quash the results of elections conducted in contravention of the Electoral Act the Supreme Court has consistently upheld the results of controversial presidential elections since 1979. While conceding that such elections were not properly conducted the court has always validated them by relying on the doctrines of substantial compliance with the enabling law or failure of election petitioners to prove allegations of electoral fraud beyond reasonable doubt. At the Commonwealth Lawyers
Conference held in Lagos in 1981, the late Graham Douglas SAN who was the nation’s Attorney-General during the 1979 general election revealed that the Supreme Court had no choice but to dismiss the case of Awolowo v Shagari (1979) 6-9 S.C 37 as the Obasanjo military regime had concluded the handing over of power to the President-elect, Alhaji Shehu Shagari. But since 1999, election petitions have always been determined a year or two after a general election. Thus, at the time the judgment in an election petition is delivered the elected President would have had the first budget passed, represented the country in international fora and announced major decisions which may include the approval of the appointments of federal judges and performed other presidential functions. Therefore, election petitions, which are determined in the middle of the term of sitting Presidents, are usually thrown out on grounds of public policy. Indeed, if the election petition is upheld and the result is annulled on grounds of electoral malpractice the apex court is likely to be accused of deliberately promoting political instability in the country! Unlike the Kenyan Constitution, which provides that election petitions shall be determined within 14 days section 285 of the Constitution of the Federal Republic of Nigeria, 1999 as amended provides for 180 days for the trial of petitions at the election petition tribunals and 120 days at the appellate courts. Whereas presidential and legislative election petitions are determined by two courts those arising from governorship elections alone are determined by three courts. Pre-election matters have no time limit. Hence, over two years after the 2015 general elections some pre-election matters are still pending in the appellate courts! Although high court judges are competent to hear pre-election matters filed in the courts manned by them they are disqualified from hearing election petitions filed in the same courts on the ground that they could be influenced by local political interest groups. Therefore they are posted to other states for 180 days in an election year while other cases being handled by such judges are adjourned sine die. The Electoral Act favours elected persons whose returns are being challenged in court. Having taken oaths of office the respondents usually frustrate expeditious determination of election petitions. The respondents also collude with INEC to make it impossible for petitioners to prove electoral malpractice as they are denied access to election materials. In the circumstance, they are compelled to apply to election petition tribunals for permission to inspect election materials. Other dilatory tactics designed to prolong the hearing of election petitions are employed by the respondents’ lawyers.
The Road to Electoral Justice From the foregoing, it is undoubtedly clear that the Supreme Court of Kenya has freed itself from the dangerous influence of Nigerian courts by jettisoning the doctrines of substantial compliance and proof of election petitions beyond reasonable doubt. In line with the provisions of the Electoral Act 2016 it has also embraced technology to facilitate the hearing and determination of election petitions within 14 days. Instead of blaming Nigerian judges for our out-dated and unjust electoral justice system the National Assembly should be prevailed upon to take advantage of the on-going review of the Constitution and the Electoral Act to make provisions for electronic voting, speedy determination of election petitions, appointment of electoral umpires through advertisement in the media, prosecution of electoral offenders and live coverage of the hearing of election petitions by the media.
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