Monday 9th October 2017 by THISDAY Newspapers Ltd

NNPC: Gas Company Profit Drops By N6.7bn Reports increased earnings from gas transport rate, others

Chineme Okafor in Abuja The Nigerian Gas Processing and Transportation Company Limited (NGPTC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has declared a profit after tax

of N15.81 billion for its 2016 trading year, some N6.79 billion less than what it made the previous year. According to a statement from the Group General

Manager, Public Affairs of NNPC, Mr. Ndu Ughamadu, on Sunday in Abuja, the NGPTC explained that its profit for the period came from the write-back of

deferred tax worth N8.05 billion in 2015, higher transportation tariff, and new commercial customers that came on stream within the period.

The statement quoted the Chief Operating Officer of NNPC’s Gas and Power Autonomous Business Unit, Saidu Mohammed, who is also the Chairman of NGPTC

FG Approves Sale of Three NIPP Gencos… Page 10

to have disclosed this at the 22nd Annual General Meeting (AGM) of the company in Abuja. Saidu stated that the profit before tax for the year ended 31st December, Continued on page 10

Monday 9 October, 2017 Vol 22. No 8208. Price: N250

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In Political Realignment, Atiku, Jonathan Meet over 2019 Presidency May declare for PDP soon

Onyebuchi Ezigbo in Abuja The push to get former Vice President Atiku Abubakar to dump the All Progressives Congress (APC) and return to the Peoples Democratic Party (PDP) to enhance the opposition party’s bid to return to power in 2019 may have

gained traction with a recent discrete meeting between him and former President Goodluck Jonathan. The meeting said to have been held at the instance of Atiku, who was said to be seriously considering Continued on page 10

Tinubu Proposes 7-Point Agenda to Revive Nigeria’s Economy Outlines national infrastructure plan Gboyega Akinsanmi National Leader of the All Progressives Congress (APC), Senator Bola Tinubu, has proposed a seven-point agenda, which he said, would revive the

country’s troubled economy and drastically reduce her dependence on petrodollars. Tinubu explained that the development of a national infrastructure plan; Continued on page 12

FG Denies Infecting Bayelsa SWEET VICTORY… L-R: Minister of Power, Works and Housing, Mr. Babatunde Fashola; Minister of Sports, Mr. Solomon Dalung; and of the Senate, Dr. Abubakar Bukola Saraki; after Nigeria’s Super Eagles defeated Zambia's Chipolopolo to with Monkey Pox Virus… Page 10 President qualify for Russia 2018 World Cup, in Uyo….. Saturday

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FG Approves Sale of Three NIPP Gencos Plants sell power to the grid at N5 below other Gencos’ rate

Chineme Okafor in Abuja Three electricity generation companies (Gencos) built by the Niger Delta Power Holding Company (NDPHC) under the National Integrated Power Projects (NIPPs) would soon be sold to private investors in continuation of the 2013 NIPP privatisation that was suspended, the Managing Director of NDPHC, Mr. Chiedu Ugbo, has disclosed. The plants, which Ugbo said the resumption of their privatisation has been approved by the government, include the 634 megawatts (MW) Calabar, 1,076MW combined cycle Alaoji, and 506MW Geregu. He noted that the challenges that stalled their sales had largely been cleared and were now ready to be privatised. Speaking in an interview at

the weekend in Abuja, Ugbo explained that the government approved their privatisation because the transmission and gas supply troubles they had, had been resolved and that the market risks in the sector were being addressed. He also noted that preferred bidders for the plants were still very interested in them as against thoughts that they might have lost interests. Ugbo said: “This privatisation process started in 2012 and moved to 2013 with the emergence of the preferred bidders. At that time it was a mix of market issues and internal issues that had to do with gas supply, completion of the power plants and evacuation. “Alaoji and Calabar had no evacuation facilities, the plants on the west side of Delta, from

Sapele, Benin had gas supply problems. Shortly before I came in, the company got approval that once we finish resolving the issue of a particular plant we should go ahead and sell the plant. “So, we were able to rush and finish the Ikot-Ekpene switching station and the transmission line to Calabar and the transmission line to Alaoji, as both of them come to Ikot-Ekpene where the power is sent to Ugwuaji and from there to the rest of the grid. “So, that resolved the transmission challenge for Calabar and Alaoji. Total has finished the dedicated pipeline to Alaoji power plant and they have started supplying gas to the plant. Alaoji and Calabar both have gas evacuation facilities. We got approval for Calabar to be privatised, Alaoji was not included because it

was under litigation. But the issue has been handled and Alaoji is back,” he explained. According to him: “In Omotosho, gas was the only challenge and we are working on that. For Geregu, we are discussing with GACN and NPDC to finalise the gas supply agreement for that plant. So, in essence, we’ve finished what is our responsibility for the three and we are ready to go.” On the market risks, Ugbo explained: “In 2014, the market was not bankable. It was difficult for bidders, as any lender coming to do due diligence on Nigerian market would just see what we were getting. That you would supply 100 per cent and get about 25 per cent. They (lenders) were saying that the market couldn’t guarantee their monies coming back.

“But we are still on the privatisation process because the preferred bidders are still interested as much as they were in 2013. We still have them and we are working with them as we try to close these three transactions,” he confirmed. He noted that the NDPHC was also working with the Bureau of Public Enterprises (BPE) and National Council on Privatisation (NCP) to conclude the privatisation process, adding: “We are just waiting for certain approvals now if the options we are proposing are accepted.” Insisting that the plants were still wanted by the investors, Ugbo said: “It is just to clear the market risks around the plants so that the lenders can provide the funds to the investors. The business must make sense before the lenders

will put their money there.” He also disclosed that the NIPP plants that are in operation were selling power to the national grid at a discounted rate, in addition to them not allowed to claim capacity payments. Ugbo explained: “Our tariff is somewhere around N18 while the rest of the generation plants are about N23 per kilowatt hour. We are discussing this with NBET right now because it is what we met. “They plugged in the 2012 number without escalation built into it, like inflation and all that, so while others kept going up, ours remained static, and that is one reason, but we are discussing because there is no reason why we should remain low particularly when we don’t get capacity payments,” he lamented.

FG Denies Infecting Bayelsa with Monkey PoxVirus Emmanuel Addeh in Yenagoa The federal government yesterday described as fake and sinister a report that the outbreak of Monkey Pox in Bayelsa State resulted from a free medical care exercise it is allegedly administered in some parts of the Niger Delta. The Minister of Information and Culture, Alhaji Lai Mohammed, in a statement in Abuja said Nigerians should disregard the report which, the federal government said was apparently being spread by some unscrupulous persons to fit into a sinister agenda. It said: ''The Federal Government has not conducted any free medical service or care in either Bayelsa or Rivers state, as alleged in the fake report being circulated. So that could not have been the cause of the outbreak of Monkey Pox in both states. "Monkey Pox is a virus found only in monkeys and it is rare in human beings. It belongs to the same family as Chicken Pox and Smallpox. ''It is suspected that someone may have contacted it by eating monkey meat, thus triggering the current outbreak," Mohammed said. He assured Nigerians that no effort would be spared in curtailing the spread of the disease.

Meanwhile, there are suggestions that severe flooding induced by the heavy rains this year may have triggered the current outbreak of the Monkey Pox viral disease in parts of Yenagoa, Bayelsa State. It was learnt that different species of animals usually found in the bushes, which were displaced by the floods from their natural habitats found their way to people’s homes, especially around the outskirts of the city centre, where the incidence of the ailment was first reported last week. So far, 13 suspected cases of the new viral disease are being treated at an isolation ward at the Niger Delta University Teaching Hospital, Okolobiri. Over 50 persons were also being traced at different locations in the state following the outbreak of the disease, which had also infected a medical doctor who came in contact with the patients. The State Commissioner for Health, Prof Ebitimitula Etebu, told THISDAY yesterday that the government was also exploring the possibility that animals, which were now searching for dry land could have had contact with residents of Agbura, in Yenagoa, where the index case was spotted. Monkey pox, which was noticed for the first time in

the Democratic Republic of Congo, is usually hosted by animals, including monkeys, rats, squirrels, antelopes with secretions from dead animals being more contagious. Symptoms of monkey pox, according to medical experts, could range from a severe headache, fever and back pains to rashes bigger and more frightening than chicken pox. Etebu said that he could not categorically say if the cases of those affected had increased or plummeted since Saturday evening when he last had the daily briefings from workers in the field, but added that residents were still reaching the ministry through the available media provided for contact tracing. “We are still seeing people, but in terms of how many, I haven’t got the situation report today, but we are succeeding. People are responding positively. They are calling in and our teams are going round. But there’s been nothing dramatic”, he said. On what could have triggered the outbreak, the commissioner said: “We have no peculiar situation here. But the floods might be partly responsible because many of these animals have left their natural habitats and looking for dry ground. It is not unusual that that was

how they came in contact with the victims”. He noted that on its own, the disease does not kill, but stressed that the state was taking the outbreak seriously because medical complications could arise in the process, especially among children, which could lead to death. He said apart from some experts that the Nigerian Centre for Disease Control (NCDC) had deployed on the second day after the outbreak, there had been no other help from the centre in terms of logistics. He, however, said being a technocrat, he wasn’t interested in raising the alarm on such matters, since there was “a chain of command,” adding that the situation would have been better with more logistics assistance from the federal government and international partners. Etebu said: “Usually we don’t stockpile for emergencies, so when they happen in this kind of magnitude, nothing will be enough. That is why we need assistance from the federal government. Everything we are doing now is funded by the state government. “We do not only need technical support, we also need to deploy to other local governments apart from where it is currently confined. We pay a lot for logistics.”

IN POLITICAL REALIGNMENT, ATIKU, JONATHAN MEET OVER 2019 PRESIDENCY offers made to him by a section of the leadership of the opposition party to return, according to a THISDAY source, explored the desirability of the move and concluded that it would be a worthwhile political endeavour that could help terminate what both leading politicians regarded as the uninspiring rule of the APC. THISDAY had in a recent report indicated that there were concerted efforts by some PDP leaders to bring Atiku back to the party’s fold but that he gave conditions, including an assurance that he

would be given its automatic ticket to contest the 2019 presidential election. The fresh meeting with Jonathan was said to have looked into the possibility of this condition with both of them said to have agreed that all options should be kept open as the political dynamics of the country remained fluid, requiring a more pragmatic approach to the upsurge in politicking, which the Independent National Electoral Commission (INEC) warned against last week. The electoral empire’s National Chairman, Prof.

Mahmud Yakubu, had cautioned politicians against political campaigns for 2019, saying the ban on electioneering was yet to be lifted in accordance with Electoral Act 2010 as amended. But Jonathan was said to have advised Atiku to consider returning to the PDP early enough to avoid being caught by certain provisions of the party’s constitution, which stipulate a period of time a member has to spend in the party before he could be eligible to contest for a political office.

“Atiku was advised to return early to enable him to fulfil the eligibility condition in the party’s constitution and also have ample time to integrate his political structure into the PDP’s,” a source privy to the meeting said. The source said it was made clear to Atiku that he stood a better chance to realise his ambition in the PDP than the APC since President Muhammadu Buhari looked set to be given a right of first refusal by his party’s leadership. Continued on page 12

He said the sample sent to Senegal for analysis had yet to arrive, explaining that culturing and growing the sample in the lab to determine the particular strain might take a while to conclude. Meanwhile, the state Commissioner for Information and Orientation, Daniel IworisoMarkson, yesterday said that the sensitization campaign mounted by his ministry on the state radio with translations in all the local dialects in the state will be aggressively sustained. He said the government had commenced sensitisation campaign and advocacy visits to communities in the state on the need to reassure the indigenes of government’s intervention and activities in curbing further spread of the disease. While giving an update on

the situation, he disclosed that the government has curbed further spread of the disease, adding that out of the number of those affected and quarantined at the Niger Delta University Teaching Hospital (NDUTH) Okolobiri, many were already showing signs of recovery. Iworiso-Markson explained that two of the index cases and the Doctor affected by the disease had since fully recovered and have been discharged and expressed joy that so far no death had been recorded. "To further allay the fears and reassure Bayelsans of Governments’ effort in curbing the disease, let me make it clear that we are on top of the situation. However it is important for people to take note of the fact that prevention is better than cure”, he said.

NNPC: GAS COMPANY PROFIT DROPS BY N6.7BN 2016 was N24.4 billion as against N20.9 billion in 2015, representing an increment of 16.8 per cent, while the profit after tax reduced from N22.6 billion in 2015 to N15.81 billion in 2016. He also said the earnings per share of the firm reduced from N4, 510 in 2015 to N3, 163 in 2016, while the total revenue generated from gas sold and transmitted in 2016 by the company amounted to N219.5 billion as against N155.5 billion in 2015. “An overview of NGPTC’s business performance for the year 2016 shows that 307 billion standard cubic feet (bscf) of gas was sold and transmitted as against the planned 463bscf, thereby achieving 66.4 per cent of its target. The year 2016 also reveals a performance of four per cent below the volume of 319.25bscf sold in 2015,” said Saidu in the statement. He noted that NGPTC was confronted with the challenges of incessant vandalism of the Escravos-Lagos Pipeline System-1 (ELPS 1), Trans Forcados pipeline and

evacuation bottleneck of condensate in 2016. He equally acknowledged the continued support of NGPTC’s host communities for the sustained peace and tranquillity the company enjoyed in its areas of operation.

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Displaced North-east Women Protest Presidential Panel’s Snub Tobi Soniyi The Knifar Movement, a group of displaced women in the North-east Nigeria, representing more than 1200 men, women and children in military-run detention centres, has accused the Presidential Investigative Panel on Human Rights Abuses in the Military of denying it the opportunity to appear before it. The group said it celebrated the establishment of the panel in August, 2017 because it believed the commission would help its members' plight but expressed disappointment that it was denied the opportunity to appear before the panel in

Maiduguri. In a statement yesterday, Knifar said: "We were very happy when we heard a presidential panel had been set up to investigate cases of abuses committed by the military and we were glad to learn that the panel would be sitting in Maiduguri. "We sent our own petition as requested and readied ourselves to appear before the panel in Maiduguri. "The panel ended its sitting in Maiduguri earlier than announced and despite our appearance at the venue, we were denied the opportunity to state our case. Rather, we were told to go to Abuja if we insist on being heard.

This, the group said, was devastating to it, saying it came to the venue with 250 women but were not allowed to enter. "How do they expect displaced women in our situation to go to Abuja when we can’t even afford to feed our children?” it asked, adding: “It is a daily struggle to find food and we don’t know where the next meal will come from. This is how we have lived.” The group said in its letter of complaint to the panel, it explained that it hoped it would be supported financially to be in Abuja. “Instead, they replied, calling our complaints 'uncharitable' and saying we should bear

every cost ourselves,” it said, regretting: "Obviously the refusal to hear us was a huge disappointment. We still believe that testifying before the panel is the best way to get access to justice.” Among others, the commission, which was inaugurated in August by Vice President Yemi Osinbajo while acting as president, is to review compliance of the Nigerian Armed Forces with human rights obligations and rules of engagement, especially in local conflict and insurgency situations. The commission is headed by Justice Biobele Georgewill of the Port Harcourt Division of the

Court of Appeal. Knifar said it had launched a fundraising campaign with the hope of generating enough resources to travel from Maiduguri to Abuja to present its case before the panel. It said that relatives of their members were illegally locked up by the military and challenged the authority to charge them to court if there was a case against them. The group said: “For years, we lived in silence, despair and frustration because our husbands, relatives and children are locked up by the military without reason. We have also lost our children in a

military-run IDP camp in Bama due to malnutrition and diseases. Some of us were raped by soldiers and Civilian JTF." It asked the government to release all detainees held by the military who had not been charged with any criminal offence as well as release the list of all the people in military detention so that their relatives could locate them. “We also ask the government to bring to justice those soldiers and CJTF responsible for the death of our children and elderly and for raping us, as well as the Boko Haram fighters who are responsible for killing and raping our people," the group said.

THISDAY that the leadership of the PDP was comfortable with Atiku whom they believed was well liked by both northerners and southerners even as they downplayed the issue of his old age. According to a source, the leaders believed emphasis should be placed on the state of his health rather than his age. “We had the late President Umaru Yar’Adua who was in his mid-fifties but he had health issues which led to his demise midway into his presidency. Also, President Muhammadu

Buhari had health issues which we warned against during electioneering in 2015, but it was dismissed as hate speech. “Then we have persons that are the same age or much older but are healthy and physically fit. So Nigerians should be more concerned about a person’s health than his age,” the source stated. The source said the APC chieftain was aware of the issues surrounding his age and health and he is prepared to make his medical certificates for the last ten years public to allay any concern about his health.

more accessible to the average person. The prevailing norm is for a person to purchase high -priced items such as a car in one lump sum. This is oppressive. It defeats the average person and constrains transactions in real estate, vehicles and appliances that could vitalize the economy,” he noted. Tinubu said governmentbacked home mortgage system must be reengineered, contending that mortgage loan agencies must be better funded and should liberalize their eligibility requirements so that more people could qualify for them. He said: “They need to provide longer-term mortgages with manageable interest rates. The government should provide the supporting guarantees to make such financing a reality. By sparking the effective demand for housing, the overall economy is enhanced. The construction sector and the industries allied to it will surge.” He argued that a workable credit system would reduce corruption, adding that the current lump-sum payment requirement tempted people towards misconduct. “They see no other way to secure such large sums. Their wages will not suffice. They must

steal the money, beg for it or forego the purchase,” he said. According to him, having an accessible credit system that provides for periodic instalment payments would place a purchase within the reach of people’s wages. He said agriculture remained the backbone of the country and challenged the federal government to help common farmers by improving rural output and incomes, explaining that this could best be done through ensuring minimum prices for crops strategic to food security. Tinubu told his audience: “Though effective, this policy was shunned because it conflicted with the free market totems that we were asked to erect against our own interests. We must return to commodity exchange boards, which will allow farmers to secure good prices and hedge against loss. “An agricultural mortgage loan corporation should be inaugurated to further promote these goals. The proposals stated above are largely within the province of the federal government. Focusing on these and other such things will keep the federal government sufficiently busy,” Tinubu stated.

IN POLITICAL REALIGNMENT, ATIKU, JONATHAN MEET OVER 2019 PRESIDENCY According to the source: “He was told to note a recent comment by the APC National Chairman, Chief John Odigie-Oyegun, stating that as the incumbent, President Buhari had a right of first refusal even when the decision would have to be his. “That has been buoyed by Kaduna State Governor Nasir el-Rufai who had practically launched Buhari’s re-election campaign.” Referring to the reactions of the APC leadership and stalwarts to the recent declaration of support for his presidential ambition by the

Minister of Women Affairs and Youth Development, Mrs Aisha Alhassan, the source said it was made clear to Atiku that there was nothing left for him in the APC and that he should just return to the PDP where he could reunite more easily with other founding fathers who were eager to rebuild the party. THISDAY had reported exclusively in a recent report that key leaders of the PDP were in talks with Atiku over his possible return to the party he co-founded in 1998. But the former vice president was said to have

insisted on some conditions to be met before he could dump the APC for the PDP. This included an assurance that he would get the party’s presidential without a contest. “The secret discussions are ongoing with a wing of the leadership of the PDP and this has encouraged the former vice-president to start consultations with critical leaders in the northern and southern parts of the country,” a source had told THISDAY, adding: “However, Atiku has informed the PDP leaders who have approached him to guarantee him the nomination of the

party for the presidential election before he can leave the APC, as he does not want to be messed up for the third time.” Findings had shown that several governors in the PDP, especially Governor Ayodele Fayose of Ekiti State who had also declared his presidential intention, were willing to allow Atiku return to the PDP. Party sources had claimed that Fayose would not mind positioning for the vice presidency candidacy as Atiku was a strong politician who looked ready to take over power. Multiple sources had told

TINUBU PROPOSES 7-POINT AGENDA TO REVIVE NIGERIA’S ECONOMY the return of commodity exchange boards and the promotion of governmentbacked housing programmes were important measures that could help to reposition the national economy. The proposals are contained in the text of a recent lecture the APC leader delivered in Lagos, where he said the decline in oil prices had revealed the travesty of the country’s extant economic model. He proposed a national industrial policy fostering the development of strategic industries, which he said, could create jobs as well as spur sustainable economic growth. He said: “We must realise that no populous nation has ever attained broadly- shared prosperity without first creating an industrial capacity that employs large numbers of people and manufactures a significant quantity of goods for domestic consumption or export.” Tinubu noted that England, America and China had implemented policies to protect key industries, promote employment and encourage exports, explaining that these countries represented the past, present and immediate future of national economic achievement.

He said: “A strong common thread is their policies of buffering strategic industries in ways that allow for the expansion and growth of the overall economy. So, we must press forward with a national industrial policy fostering the development of strategic industries that create jobs as well as spur further economic growth. “Whether we decide to focus attention on steel, textiles, cars, machinery components, or other items, we must focus on manufacturing things that Nigerians and the rest of the world value and want to buy. We must partially reshape the market place to accomplish this,” Tinubu declared. He also proposed the need for the federal government to develop a policy of tax credits, subsidies that insulate critical sectors from the negative impact of imports. He equally recommended a national infrastructure plan, noting that roads, ports, bridges and railways need enhancing, and new ones need to be built with the goal being to develop a coherently-planned and integrated infrastructural grid. The APC leader said: “A national economy cannot grow beyond the capacity of

the infrastructure that serves it. Good infrastructure yields a prospering economy. Weak infrastructure relegates the economy to the poorhouse. The government must take the lead. “The focus on infrastructure has important corollary benefit. Federal expenditure for needed infrastructural spending has empirically proven in every place and in every era to boost recessionary economies and provide employment when sorely needed. “Deficit spending in our own currency to advance this mission is neither a luxury nor a mistake. It is a fulcrum of and balanced and shared prosperity. We must overcome the economic, political and bureaucratic bottlenecks preventing us from achieving reliable electrical power,” he stated. He said lack of electricity was perhaps the single greatest impediment to the country’s economic advancement. According to him: The lack of power inflates costs, undercuts productivity, causing havoc to overall economic activity and job creation. Our economic situation is literally and figuratively in the dark. “The hurdles we face are not technical in nature.

We must convince those political and economic factors currently impeding our quest for reliable power to step aside so that we may obtain this critical ingredient to economic vitality,” he pleaded. He further proposed a credit-based economy, stating that credit for business investment was too costly in Nigeria. “The long-term economic strength of the nation is dependent on how we deploy idle men, material and machines into productive endeavor. And this is highly dependent on the interest rate,” Tinubu said. Consequently, he asked the Central Bank of Nigeria (CBN) to cure its affection for high-interest rates, arguing that lower rates were required for industrialists to borrow without fear that excessive costs of borrowing would consign them to irredeemable debts. He said: “The normal profit rates in most business sectors cannot support the burden imposed by current interest rates. If our industrialists do not invest in more plants, equipment and jobs, the economy will stagnate. The banking system would have achieved its goal of lowinterest rates at the greater costs of economic growth. “Consumer credit must be

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COMMENT

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

KACHIKWU: LEST BUHARI FORGETS Ibe Kachikwu puts the interest of the nation above self, argues Emma Agu

hat those who denied the Minister of State, Petroleum Resources, Ibe kachikwu access to President Muhammadu Buhari have succeeded in doing is to force the man out of the cabinet earlier than the president probably had planned. For, if he had been allowed to see the president, his letter on the activities of Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation, (NNPC) would have been averted and the public uproar generated by the letter and its handling would similarly have been averted. That opportunity has been lost. This is the litmus test of Buhariâ€™s integrity: the matter is a straight forward one. His minister has alleged that a man he supervises on two constitutional fronts: as chairman of the board of the NNPC and as minister of state, petroleum, has breached the procurement act, flouted extant corporate governance statutes and shown disrespect amounting to humiliation. If the minister is right, the man should instantly be placed on suspension; if the minister is wrong, the minister should go. Going forward, however the crisis is resolved, heads must roll; the issues in question are so fundamental that I do not see how the two can work together again. In the nature of things, the matter has been seriously politicised with every group drawing political capital out of it. I can see the hawks telling Buhari to ignore Kachikwu. But as he weighs in on the matter, if his close aides allow him access to this article, I want him to consider my submission; that Kachikwu is the best friend he could ever have in this administration. Here are my reasons. First, it takes a selfless patriot to blow the whistle in a situation that threatens the high position he occupies. Kachikwu could have kept quiet, tagged along and enjoyed the perquisites of office. He would not do that because he knows that tomorrow will come, that the hyenas are lurking dangerously close, to destroy the presidentâ€™s record. Unlike the exponents of graft and impunity, Kachikwu realises that Mr. President has made transparency and zero tolerance for corruption the hallmark of his administration; that this Buhari mantra should not be desecrated even if all other persons pretended that everything was right. We should never forget. Second, for the sake of Buhari, Kachikwu treaded where angels would be scared to venture. For anyone who followed the national debate on hiking the pump head price of fuel, for anyone who watched the National Assembly debate on the matter, there was no disputing Kachikwuâ€™s loyalty to the president or his commitment to the success of his administration. During his campaigns in 2015, Buhari had promised to reduce the price of fuel to N40 from the prevailing N97 per litre at the time. But once elected, he made not just a volte face but a grotesque somersault. The pump head price of fuel was hiked to N147. The people screamed blue murder; companies threatened to close shop; everybody was baying for blood: it will never happen, they said. But Kachikwu moved adroitly, with resolute detachment yet genteel demeanour, he mustered argument after argument, in the process disarming everyone. The impossible had happened; never before in the history of Nigeria had such been achieved. For sure, the personality of Buhari played a major part in the success because the people trusted him. We should never forget. Third, if we thought that the first two points were simple, and I bet they are not, what can one say about Kachikwuâ€™s decision to put himself on the line at a time the Niger Delta was brimming with militancy? Oil

THAT THE GROUP MANAGING DIRECTOR OF THE NNPC WILL AWARD CONTRACTS ABOVE HIS LIMIT WITHOUT PASSING THROUGH THE BOARD CANNOT BE THE SANITY THAT WAS PROMISED; THAT HE WILL CARRY OUT HIGH LEVEL PROMOTIONS WITHOUT THE KNOWLEDGE AND PARTICIPATION OF THE BOARD CANNOT BE THE SANITY THAT WAS PROMISED

production had declined to an abysmal low, less than one million barrels per day. With oil prices at the lowest and production at its nadir, the prognosis was dire; Nigeria was on the brink of an economic collapse. Of course, for the hawks, the solution was to bomb the militants out of existence: Abubakar Umar, a colonel and former governor of Kaduna State under President Ibrahim Babangida had warned that it was a stupid thing to do. Dialogue, he said, was the way out, a position that Kachikwu not only consistently advocated but promoted and actualised by throwing himself into the creeks of the Niger Delta. He moved like a warlord believing in the justness of his cause. His arsenal was the diverse knowledge he had gathered handling delicate legal matters at Exxon Mobil, his armoury was laden with a repertoire of native wisdom, being a son of the soil: either way, he was prepared to die for the Niger Delta or Nigeria as he could not see a separation between the two. His conviction and sacrifice encouraged Vice President Yemi Osinbajo, another Buhari loyalist, to move to the creeks. There was a truce. Production went up. More oil money rolled in. We should never forget. By the way, I have read the hypocrites doing what they know best, spewing conspiracy theories to demonise Kachikwu. They are free to deceive themselves. My earnest hope is that the president does not pay them any attention. For, what signal will the president be sending to the people of the Niger Delta by any step that detracts from the due process, by touching their son who raised legitimate issues of corporate governance, who has decided to stand with the president in the arduous task of re-inventing Nigeria by institutionalising due process? How can anybody with a sense of fair-play and who earnestly believes in peace and stability expect the people of the Niger Delta to simply fold their arms over the lopsided appointments recently made at the NNPC? How would Buhari expect Kachikwu or any other minister of Niger Delta extraction, including the national chairman of the party, Chief John Odigie-Oyegun, to be of any electoral value to the ruling All Peoples Congress (APC) when they cannot guarantee the zone equity in sharing assets that have ruined their environment and sentenced generations yet unborn to decades of hunger and disease? It is one of those paradoxes of our convoluted nationhood that we insist that might is right even when the currents of history consistently prove the contrary to be the case. If Kachikwu is right, and I have no cause to doubt him until I see Baruâ€™s response, what is obtaining at the NNPC is impunity writ large. The public is already wondering how this differs from the allegations being levelled against every member of President Goodluck Jonathanâ€™s administration. The international community will certainly not find this funny: oil is at the heart of the Nigerian economy and the president had promised to sanitise the sector. That the group managing director of the NNPC will award contracts above his limit without passing through the board cannot be the sanity that was promised; that he will carry out high level promotions without the knowledge and participation of the board cannot be the sanity that was promised; that he will ignore his supervising minister, under any guise, even to the extent that he circumvents the diplomatic admonition of the then Acting President, cannot be the sanity that was promised. Kachikwu has cried out because after a distinguished career in the private sector, his word is his bond: he has invested his integrity, his reputation, his all, in the Buhari administration, to the extent that he recently told us that Buhari was fit enough to run for second term if he so wished.

ANALOGUE ANTENNA FOR DIGITAL SWITCH OVER

or the Nigerian broadcast industry it must have been a rude shock to encounter the damning report on the status of the equipment and facilities deployed by federal government-owned NTA off-shoot, Integrated Television Services (ITS) for the Digital Switch Over (DSO) pilot project in Jos and the Ilorin broadcast centre. It is disheartening to say the least that after years of failed attempts to launch the nationâ€™s digital broadcasting system and meet the international deadline for the switch over from analogue broadcasts, our success in switching on is again doomed by deliberate bungling of routine implementation processes. In the first part of â€œRealities of the Digital Switch On (DSO)â€? focused on signal distributors widely published in the press by Mr Tony Dara, a renowned broadcast engineer, it was revealed that behind the faĂ§ade of official bravado over the Jos pilot project lurked a scandalous scenario of obsolete equipment, old transmitters and buildings and failure to meet set targets. The disturbing implication of these lapses is that the nation is heading for another display of the â€œbad imageâ€? to the rest of the world as well as short-lived success of government implementation of the DSO, not to mention the tirade of tantrums from millions of Nigerians soon to be shut-out from receiving digital broadcasts. For general information, it should be

Rakiya Longwai laments the failure of the digital switch over pilot project in Jos understood that the idea of granting NTA automatic status as national digital signal distributor for the DSO was to enable the federal government to provide leadership and retain dominance for control in the national interest relying on NTAâ€™s undisputed spread and experience in television broadcasting. As long ago as 2012 when the White Paper on DSO was released and an implementation team tagged DigiTeam established with the Nigerian Broadcasting Commission (NBC) as supervisory regulator, the ITS should have been up and doing to live up to expectations and justify the confidence reposed in the â€œexpertiseâ€? of the â€œlargest television network in Africaâ€?. The series of forced postponements in launching the DSO was like injury time to perfect the take-off of the pilot project in 2015. Alas, the situation today, going by the Dara Report, is that the combined collaboration of government agencies-DigiTeam, NBC, and NTA/ITS- has instead inflicted serious injury on the anticipated grand success of national roll-out of digital broadcasting in Nigeria, a feat that several nations across the world had accomplished impressively. What these agencies have delivered amounts to a false start of one bogus step forward and several bungled steps backward , mere motion without movement. It is another indictment of the role of government agencies in carrying out their statutory functions to the people of Nigeria in accordance with international best

practices and good governance. Perhaps we will ultimately have to privatise government for Nigeria to really move forward ! Specifically, one is at a loss to understand how and why NTA/ITS under the watch of NBC and by extension the Ministry of Information could go ahead and instal â€œtransmitters that have been discontinued by the original equipment manufacturer,â€? as the Dara report authoritatively asserted. Or why old analogue antenna masts and towers of the NTA transmission system were retained for â€œswitch overâ€? to digital broadcasting? So even the Jos pilot project showcase of government in DSO put up by ITS supposedly to cover the whole of Plateau from three sites â€œremains an illusionâ€? since only Jos city location, not the entire Jos township can receive digital signals? And we cannot even provide new buildings customised for the DSO equipment and facilities and we are â€œmanagingâ€? old buildings â€œthat are clearly neither fit for purpose nor appropriate for digital broadcasting workflow.â€? We are clearly bedevilled by the notorious â€œNigerian factorâ€? again contrary to the best efforts of the reformist Buhari administration to change the disastrous course of the ship of state. At the root of all the identified flaws in the NTA/ITS components of the DSO NIGERIA project are the same old cankerworms of corruption, maladministration, hidden agenda among other entrenched malpractices

that are against national and public interest. Here again is good reason for believing that corruption is not about to fight back when it is not only alive and kicking but, in this case, even blowing its trumpet on bogus DSO! Nigeria cannot afford to be the butt of jokes as the Dara report predicted and therefore the National Assembly DSO Committee should seize advantage of the candid, authoritative and patriotic findings and do the needful to prevent the imminent crash landing of the DSO â€œpilotâ€? project by launching a thorough public inquiry to unravel the scandalous aspects of the NBC/NTA/ITS implementation of the DSO NIGERIA. Anything short of prompt and transparent review of the situation described in the Dara report will only confirm that the Nigerian factor bedevilling the DSO and all the concerned federal authorities is not only an infectious pandemic but also potentially incurable even to the national legislature. In addition, it is advisable to consider the constitution of a body of patriotic, independent, professionals in the broadcast industry to act as implementation vigilante for the DSO NIGERIA project since those who saw some things wrong with it refused to say anything! Meanwhile Mr. Dara should not be intimidated as we expect him to complete the revealing investigation by covering the entire spectrum of DSO NIGERIA implementation so far. Longwai is a student broadcaster in Jos

T H I S D AY Ëž Ëœ ÍˇËœ 2017

EDITORIAL NIGERIA AND THE WORLD CUP TICKET

The relevant authorities should start preparations for the football fiesta

hanks to the goal by Alex Iwobi, Nigeria last Saturday became the first African country to qualify for the 2018 football World Cup tournament to be hosted by Russia. But beyond the thrills and euphoria, what the victory of the national football team has revealed is that if we put the right people in the right places, there is nothing that we cannot achieve as a nation. From the coaching crew to the composition of the team, and even the line up, the selection was right. In a plural society where variables like religion, ethnicity, federal character and even political inclination define, in most cases, who gets what, merit was the only consideration in the selection of the national team. Expectedly, the result was good. By all accounts, the Super Eagles surpassed the expectations of a nation whose football fortunes had dwindled in recent years, and with that, helped to lift the mood of pessimism that pervades our country today. The victory also brought back the sense of pride, THE VICTORY BROUGHT confidence and self BACK THE SENSE OF assurance, all of PRIDE, CONFIDENCE AND which describe the SELF ASSURANCE, ALL nation that we once OF WHICH DESCRIBE THE were and should reclaim. NATION THAT WE ONCE However, as cash WERE, AND SHOULD donations, material RECLAIM gifts and encomiums continue to pour in for the victorious eagles, we call on government, corporate citizens and wellmeaning Nigerians not to limit their support to the victory celebrations. There is also an urgent need for a comprehensive reform that would fully bring back the glory of the local league as a breeding ground for national players. And there can be no better time than now to begin preparations for the World Cup tournament. Meanwhile, to qualify for the global football fiesta with a game to spare, the Super Eagles earned 13 points without losing any of their five

Letters to the Editor

matches. Nigeria defeated Cameroon at home and played a draw game away. Nigeria had earlier defeated Algeria and the return match has now become purely academic. It is a remarkable feat that deserves commendation, a moment that united all Nigerians.

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s we therefore felicitate with the players, officials and Nigeria as a whole over the triumph, our football authorities must begin their preparations in earnest so that we do not repeat all the embarrassments of the past when our national team entered the competition as a house divided against itself. For instance, despite the match bonus of $10,000-a-man for a first round match win, announced ahead of the 2014 World Cup in Brazil, the Super Eagles players reportedly made demands for â€œappearance feeâ€? before playing for their country. A similar row derailed the Super Eagles at the 1998 World Cup in France and almost caused the country to miss out on the 2013 FIFA Confederations Cup, also in Brazil, before the Presidency intervened to avoid an international embarrassment. While we therefore congratulate the Super Eagles for the early qualification for the 2018 World Cup in Russia, it is a shame that bonus payment has over the years resulted in avoidable crises which sullied the image of the country. From the 1994 World Cup when Nigeria was having a good outing until the players began to demand for higher bonuses above what was officially agreed and the consequent distraction that led to our ouster; to the 2002 African Cup of Nations Cup tournament in Mali, leading to another disappointing outing, it is almost as if the managers of our football never learn. Therefore, as the football authorities prepare for the tournament, the expectation is that these issues will not recur. But beyond the issue of bonus, there is also a lesson for the nation, especially at this period: if we pull together and maximise our potential, there is no limit to what our country can achieve.

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

HOW NIGERIANS SPENT N1.5TRN WATCHING FOREIGN FOOTBALL

nother weekend has come when people from across the country, particularly youths in their large numbers, from street to street troop to the various football viewing centres in their neighborhood to feed their eyes with spectacular games of football. Football is sweet no doubt. The skillful dribbles, superlative goals, amazing saves and precise kicks all make football irresistible. I used to be an ardent fan of European football; I can even miss a class not to miss a match. However, I stopped watching foreign league matches a few years ago when I realised how much my passion for foreign football was destroying our countryâ€™s economy. We canâ€™t be destroying our own country by ourselves and turn around to ask government to do magic. When I was still an ardent supporter of Chelsea, I once went to bed hungry because Liverpool defeated us in a Champions league semi-final match. I think that was in 2005. However, I stopped watching foreign football a few years ago. I had to endure the slight discomfort of not watching European league, for a greater benefit of strengthening our naira. Here is how. Every week, Nigerians in their millions gather across various football viewing centres to watch football matches. They pay a token of N100 to have the most pleasurable moment of their lives. In some weeks, they watch two, three or even four matches. For the purpose of this write up, let us assume they watch only one match per week.

We all know Nigerians love football. That is one thing that unites the country, apart from music and tribalism. More than 70% of our 180 million population comprise young people. That means over 120 million youths are in Nigeria. Assuming only about 20% love football, thatâ€™s about 25 million population. But letâ€™s assume just 20 million youths watch football every week. This is not an exaggeration. In my area in Ilorin, I mean just one area; we have more than 10 viewing centres. People can afford not to eat than not to watch football. Now, letâ€™s do some calculations. If 20 million people watch football every week and each person does so with a token of N100, that costs us a whopping sum of N2 billion in just one week. If N2 billion is multiplied by 56 weeks in a year, that gives us N112 billion. Although, I have been watching European league before 2004, I became so addicted that year and between 2004 and 2017, that is 13 years. So, if football lovers spent N112 billion to watch foreign matches in one year, multiply that figure by 13 years and guess how much it is? N1.456 trillion. Thatâ€™s the amount we spent watching football in 13 years. Now, where does this money go? I mean, where does the N1.5 trillion we spend on watching football go? It goes abroad. We send the money to Europe to strengthen their economy and currency, while devaluing our own. We pay to the football viewing centres. They pay the money to DSTV, who then convert

the money into dollars and send it to Europe. Thatâ€™s one of the many ways we destroy Nigerian currency. In economic terms, they call it capital flight. A little research about capital flight tells me that this leads to a disappearance of wealth, and is usually accompanied by a sharp drop in the exchange rate of the affected countryâ€”depreciation in a variable exchange rate regime, or a forced devaluation in a fixed exchange rate regime. This fall is particularly damaging when the capital belongs to the people of the affected country, because not only are the citizens now burdened by the loss in the economy and devaluation of their currency, but probably also, their assets have lost much of their nominal value. So, the next time you want to complain that â€œdollar don riseâ€™â€™, donâ€™t forget to ask yourself how much you contributed to the devaluation of the naira. For me, I have stopped watching foreign football some years back. I stopped when I realised the damage I am doing to our countryâ€™s economy by helping to devalue our money through capital flight. Our local football may not be as sophisticated as European league, but trust me, we have wonderful players down here. I also heard recently that Nigeria Television Authority (NTA) will now be showing our league matches live. If you canâ€™t go the stadium to watch it live, watch it live on NTA. Abdulrazaq O. Hamzat, Nigerian referee and the Executive Director of Foundation for Peace Professionals

T H I S D AY MONDAY OCTOBER 9, 2017

T H I S D AY ˾ MONDAY, OCTOMBER 9, 2017

POLITICS

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

M O N D AY D I S C O U R S E

A Government Divided Against Itself The hostility between the Minister of State for Petroleum, Dr Ibe Kachikwu and the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, is the latest in a series of embarrassing in-house fighting within the All Progressives Congress-led administration, writes Segun James

overnments worldwide crave hidding information from the public they govern. Not even the advent of the freedom of information regime has changed this fundamentally. It is therefore a welcome development when memos or details of happenings in government are leaked to the public. Although, those who choose to leak such memos have their own agenda other than the need for the public to know, citizens are always excited by such leakages. It is in this sense that journalists, bloggers and the entire citizenry welcomed the memo to President Muhammadu Buhari by the Minister of State for Petroleum, Dr Ibe Kachikwu accusing the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru, of insurbodiation among others. While leaking government’s memo to the public thrill the citizens, government officials on the other hands don’t like it because the contents of leaked memos are usually a source of embarrassment to those in government. Obviously, the Kachikwu memo is an embarrassment to President Muhammadu Buhari’s administration. What the government does not want the people to know has been released to them effortlessly. Curiously, this is becoming a recurrent decimal in this administration. Perhaps, something is wrong with the channel of communication with the president. There are many memos sent to the president which he did not get to read. Somewhere along the line, the memo got stuck somewhere. Except it is leaked as is the case with the Kachikwu memo, the president may never see such memo. One thing that is clear is that the communication between the president and members of his cabinet is not serving him well. It is also not serving the country right. He either overhauls the system now or waits to be embarrassedthe more in the future. Had he received the Kachikwu memo and acted on it promptly, his government would have been saved the humiliation. The opposition Peoples Democratic Party has latched on to it and is now accusing the APC government of corruption. Closely related to the above is the issue of lack of co-ordination within the government. Perhaps, because it is difficult to reach the president, those in government often express their frustration in the public to the consternation of the president.

Professor Itse Sagay’s Endless Tirades

If he is not taking on the National Assembly he will be casting aspersions on the leadership of the ruling party. Even the Attorney General of the Federation, Abubakar Malami has not been spared of his attacks. Worst still, it appears the president enjoys all these and has refused to call him to order. Among others, he had accused the APCcontrolled National Assembly of undermining the anti-corruption war. In May, while reacting to Senate President Bukola Saraki and Speaker Yakubu Dogara’s claims that the anti-corruption was ineffective, Sagay accused the lawmakers of failing to rid the country of corruption. He said they refused to pass key anti-graft bills and failed to confirm Ibrahim Magu as Economic and Financial Crimes Commission (EFCC) chairman. He said: “In fact, the National Assembly has constituted itself into an opposition to the anti-corruption struggle. It has mounted a war against the anti-corruption struggle. It has decided to obstruct it at every stage. “For example, the bill for a special criminal

Malami and Magu

court is not moving. And we saw the way they tried to stop Magu from being chairman of EFCC just because they found out he was effective, determined and incorruptible. “So they really want to weaken it, destroy it and bring it to the level it was when Jonathan was in power. So, they’re enemies of the anticorruption struggle, there’s no question about that.” Last month, Sagay claimed that a Nigerian Senator gets N29 million in monthly pay in a speech he delivered at the Nigerian Society of International Law public lecture in Lagos He said: “From the information I have gathered, a Nigerian Senator earns about N29 million a month and over N3 billion a year,” the professor said. “Basic salary N2,484,245.50; hardship allowance, 1,242, 122.70; constituency allowance N4, 968, 509.00; furniture allowance N7, 452, 736.50; newspaper allowance N1, 242, 122.70. “Wardrobe allowance N621,061.37; recess allowance N248, 424.55; accommodation 4,968,509.00; utilities N828,081.83; domestic staff N1,863,184.12; entertainment N828,081.83; personal assistant

In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, APC said there was no way Sagay could call out the leadership of the party as “weak” and “unprincipled” without indicting the president

N621,061.37; vehicle maintenance allowance N1,863,184.12; leave allowance N248,424.55; severance gratuity N7, 425,736.50; and motor vehicle allowance N9, 936,982.00.” The claims did not go down well with the Senators who thought they had had enough from the Senator. They fired back accusing him of making hate speech. They also described him as a “senile, jaded, rustic and outdated Professor of Law” who may be “under influence of substance.” Still in September, Sagay took on the president’s political party, APC. In what some described as the most scathing criticism by a high-ranking member of the APC government, Sagay had in a press interview described the leadership of the party as the most unprincipled group of people who were encouraging and accepting rogues into its fold. As rightly interpreted by the party, that included the president himself. In a statement by its National Publicity Secretary, Mallam Bolaji Abdullahi, APC said there was no way Sagay could call out the leadership of the party as “weak” and “unprincipled” without indicting the president. It said: “In his sheer arrogance, he forgets that it is impossible for him to call out the leadership of the party as ‘weak’ and ‘unprincipled’ without indicting the president, who is the leader of the party and has the fundamental responsibility to build the party. “If Sagay had any iota of respect for the man who dug him back from inevitable oblivion and put him in a position in which he now feels superior to everyone, he would channel his opinions and advice to the president on how to make the party stronger and more principled.” In the interview, Sagay described the leadership of the APC as “the most unprincipled group of people” who are “encouraging and accepting rogues” into the party. He said: “When I say ‘rogues’, I don’t mean stealing. In literature, when you say someone is a rogue elephant, it means people who are running riot and destroying the party.” Before then, Sagay had attacked Malami of not leading the fight against corruption properly. After

the Code of Conduct Tribunal had dismissed the case against Saraki, Sagay descended on the justice minister. To say that the Honourable Attorney General of the Federation, Abubakar Malami, SAN frowns at the statement is an understatement. In fact, he is highly disappointed that such accusation and statement could be made by those who ought to know better. “The Honourable Attorney General of the Federation is saddened and flummoxed at the attempt to cast aspersion on his integrity, dedication and commitment to the war against corruption which undoubtedly is one of the major cornerstones of the present administration. “There is no gainsaying that the incumbent Attorney General of the Federation has shown and demonstrated so much passion, drive, will and enthusiasm in prosecution of transgressors of the law ever seen in the annals of this country. He doubted the commitment of the justice minister to the anti-corruption war. The minister quickly responded thus: “The truth of the matter is that the Honourable Attorney General of the Federation is totally, fully and completely committed, dedicated and supports the war against corruption in all its form and ramification.” “Towards this end, the Honourable Attorney General of the Federation, since his assumption of office, has initiated numerous reforms and programmes to drive the war against corruption, including the recently launched National Anti-Corruption Strategy, 2017. “And to those in a hurry to condemn due to the temporary setbacks recorded lately, they should tarry awhile because a legal process is deemed not concluded until it terminates at the Supreme Court which is the highest court of arbitration in Nigeria.” Malami Vs EFCC The recurrent disagreement between the justice minister and the Acting Chairman of the EFCC, Ibrahim Magu has also been another source of CONT’D ON NEXT PAGE

T H I S D AY ˾ MONDAY, OCTOMBER 9, 2017

POLITICS

MONDAY DISCOURSE

A GOVERNMENT DIVIDED AGAINST ITSELF embarrassment for the government. Even though the President is eager to blame the wobbling anti-corruption war on judges, defence lawyers and the accused persons, it had refused to see inter-agencies rivalry as a clog in the wheel of progress. The Justice Ministry had openly accused the EFCC of frustrating the prosecution high-profile cases. It accused the commission of breaching the rules guiding prosecution of high level corruption cases being handled by the commission. The minister’s office in a letter to Magu sought for the compliance with the regulation on the prosecution of “serious” cases, usually understood to mean high-profile investigations. Malami accused Magu of breaching section 10(1) of the Economic and Financial Crimes Commission (Enforcement) Regulations 2010 which mandates the EFCC to forward the outcome of investigations along with its recommendations to the AGF in cases or complaints that are “serious or complex”. A case is considered “serious or complex” if it has significant international dimension, involves money or assets of a value exceeding N50 million or requires specialised knowledge of financial, commercial, fiscal or regulatory matters such as the operations of the markets, banking systems, trusts or tax regimes. It is also considered serious if it involves allegations of fraudulent activities against numerous victims, involves a significant loss of money by a ministry or department or public body, is likely to be of widespread public concern or involves an alleged misconduct which amounts to economic sabotage. But the EFCC chairman allegedly ignored the Attorney General. The commission’s officials believe Malami is seeking to take over the prosecution of cases handled by the commission in order to water down the anti-graft war, an allegation which the minister denied. At a point, the dispute between Malami and Magu degenerated further when the Special Assistant to the President on Prosecution, Mr Okoi Obono-Obla, said that Malami would report Magu and Ekpo Nta, chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to the Presidency for breaching the rules. He accused the agencies of withholding the case files of more than 35 former governors and senators from the AGF. Obono-Obla said the failure to forward the files to the AGF since July 2016 when the request was made had caused a setback to the anti-graft war, blaming the strings of losses recorded in high-profile cases on the “breach”. He also accused the EFCC and ICPC of failing to cooperate with Malami, which had led to the loss of some high-profile corruption cases. But EFCC’s head of legal department, GK Latona, denied the allegation of not cooperating with the AGF, maintaining that “we are not working at cross purposes with the office of the Attorney General of the Federation; we are cooperating with them. We have a wide range of corruption cases in concert with state agencies.” He also said the Attorney-General’s office has the right to initiate new high-profile corruption cases and investigate them without waiting for cases initiated by the EFCC. The suspension of Nigeria from the Egmont Group of Financial Intelligence Units has been another source of disagreement between the EFCC and the justice minister. Since 2006 when the Nigerian Financial Intelligent Unit was established, it had been under the EFCC. Although it was expected to be independent of the EFCC, this however was not the case. While Malami is making effort to remove the unit from the EFCC in compliance with the Egmont Group’s standards, the leadership of the EFCC appeared to favour the present status quo. Section 1(2)(C) of the EFCC Act stipulates that the commission is the designated Financial Intelligence Unit (FIU) in Nigeria, which is charged with the responsibility of coordinating the various institutions involved in the fight against money laundering and enforcement of all laws dealing with economic and financial crimes in Nigeria. The spokesman for the justice minister, Mrs Salihu Isah once wrote a piece where he accused the EFCC of frustrating his boss’ efforts to make the NFIU an independent institution. According to him EFCC is the NFIU. Without a clear legal framework, it is obvious that the NFIU, cannot function independent of the EFCC as required by the Egmont Group.

the successful convictions his office has secured in the fight against corruption in the last 2 years. On the other hand, this year alone, the EFCC going by records available to the public, secured 124 convictions as at the end of July. “The challenges being faced by EFCC in the prosecution of high profile cases are well-known. They include blackmail, intimidation and petitions against some judges who are trying corruption cases by the defence counsel who are mostly SANs. “Once these counsels perceive that the odds are against their clients and the judges are not yielding to their delay tactics, they attack the judges. “Instead of engaging in ‘petty shadow boxing,’ what the country needs at this moment, particularly in the war against corruption, is focused leadership. In our opinion, this is no time to give in to the wiles of inordinately ambitious fifth columnists. “We can’t afford to allow emotions ruin the fight against corruption. We don’t think the action of the AGF is in tandem with the anti-corruption agenda of Mr. President!”

Baru, Kachikwu when the going was good

He said: “It is in line with the new trend and in consonance with international best practice, that the Office of the Attorney General of the Federation and Minister of Justice, Abubakar Malami, SAN through a memo numbered HAGF/SH/2016/Vol.1/2 sent to President Muhammadu Buhari dated 5th January, 2016 and titled, ‘Request to Transmit Two (2) Bills to the National Assembly’ referred Mr. President to the bills.” He then went ahead to accuse Magu of frustrating efforts to liberate the NFIU from EFCC’s claws. He said: “However, it is sad tale to tell how the Acting Chairman, Ibrahim Magu-led EFCC has frustrated these efforts and even had to resort to blackmail in some instances oftentimes, alleging that the AGF and the Ministry were all out to impede the government’s anti-corruption drive. Magu and other EFCC officials; and atimes through online publications; had at one time or the other accused the minister of trying to compromise the war. They have always perceived the office of AGF as a threat instead of addressing the issues related to the best strategy to fight corruption advocated by the AGF.” He noted that during the House of Representatives Committee review session on 18th April, 2017, Magu vehemently rejected the new Money Laundering (Prevention and Prohibition Bill 2016 submitted by the President. He said that EFCC was in a state of paranoia, dreading the effort of the government to have an independent NFIU. He said: “As it presently stands, the NFIU staff are all deployed by the EFCC to serve in the interest of whoever is its current Chairman. This has to stop if it must conform to the new thinking and global best practice. Nigeria cannot be an island of its own. It cannot fight corruption in isolation. The threat of expulsion from the Egmont Group calls for a thorough review of the NFIU and the manner in which the EFCC leadership has manipulated and mis-used intelligence to the detriment of the fight against corruption and financial crime in Nigeria.” How did things get this nasty between the justice minister and the EFCC Acting Chairman? Why could the Presidency not stop the open war between the two? A coalition of Civil Society Organizations decried the face-off between the minister and Magu, saying it was an embarrassment to the Federal Government. The coalition warned that the war against corruption must not be allowed to suffer over the face-off.equally urged Malami not to yield to fifth columnists in the

All these things are happening at the expense of the development and even the unity of the country which is unfortunate

war against corruption. The statement, which appeared to side with the EFCC was signed by Chido Onumah (African Centre for Media & Information Literacy), Olanrewaju Suraju (Civil Society Network Against Corruption), Anwal Musa Rafsanjani (Civil Society Legislative Advocacy Centre), Mohamed Attah (Procurement Observation and Advocacy Initiative), George-Hill Anthony (Niger Delta Budget Monitoring Group) and Ibrahim Modibbo (Democrats of Conscience). The statement, titled: “Civil society position on the relationship between the AGF and the EFCC,” reads: “The attention of the under listed civil society organisations has been drawn to the needless rift between the Honourable Attorney General of the Federation and Minister of Justice and the Economic and Financial Crimes Commission (EFCC) which further deteriorated with the recent ill-advised statement by Salihu Othman Isah, media aide to the AGF, pointing to the EFCC boss, Ibrahim Magu, as the one undermining the war against corruption of the current administration. “We see the deepening disharmony between the two government institutions as an embarrassment to the federal government and it is capable of weakening its anti-corruption efforts. We are alarmed that someone in the office of the AGF could be making such sweeping and grievous allegation without an atom of proof. We want to believe that Mr. Isah did not speak the mind of his boss given that the AGF himself had dismissed any notion of quarrel or disagreement between him and Mr. Ibrahim Magu as widely reported in the media a couple of weeks ago. “The story of what led to the suspension of the Nigerian Financial Intelligence Unit (NFIU) from the Egmont Group of Financial Intelligence Units, an informal network of national financial intelligence units, is already well known and has nothing to do with the person of Ibrahim Magu or the EFCC. Since the government has set up a committee to address the issue, we urge that the committee be allowed to do its job without interference, though we believe the committee has already been infiltrated by fifth columnists who are using the committee’s name to push personal objectives. “By calling for all case files of politically exposed persons, we see the desperation of the AGF to assert his position as Chief Law Officer of the Federation. That position is not in doubt and we don’t want to believe the EFCC as an institution has given any indication that it was unwilling to yield to the directive. We are reliably informed that a good number of cases have been sent by the agency to the AGF, including the controversial Malabu case which sources in the AGF office confirmed receiving in January this year. As at the time of this release, the AGF has done nothing about the case? “We also want to draw the attention of the public to the fact that even in cases such as the ones involving judges arrested for alleged corruption by the Department of State Security (DSS), the AGF has not fared well in prosecuting them. We would like the AGF to tell Nigerians

Back to Kachikwu, Baru Face-Off Under normal circumstances, a nasty power struggle between a minister and a manager of a parastatal under him would have ended with the manager being humbled. But in the face-off between Kachikwu and Baru, it was the minister who ended with a bloodied face, the aura of his office demystified, his reputation hanging in the balance and his person, humbled. Welcome to the world of President Muhammadu Buhari, the President and Commander-in-Chief of the Armed Forces of the Federal Republic of Nigeria. Buhari began his government two years ago with an impassioned plea to Nigerians for understanding and that he wanted to clean the Augean Stable of corruption in the system that had almost made the country a pariah nation in the comity of nations. In asserting his independence of mind and actions, he made it clears that he would be his own man belonging to everyone and belonging to no one. One of his first actions was to head hunt a seasoned oil industry executive, Kachikwu to head the NNPC which had been enmeshed in web of corruption. To most Nigerians, this was the first sign that the promised change of the APC was truly serious. But two years down the line, no one is sure that is still the case. Today everybody is complaining about the dysfunction in the system. A government divided against itself, a political party that is not coordinated, Nigerians as a people exasperated by a president that is totally distant from the state of affairs in his government and the reality of things in the country. While Presidency officials were unwilling to react to the issue, the Peoples Democratic Party (PDP) saw the embarrassment as an opportunity to attack the ruling party. To PDP, this shows total confusion in APC says PDP’s spokesman, Prince Dayo Adeyeye. While affirming the confusion in the ruling party and government, the PDP said: “This shows total confusion in the party, both in its officials and appointees in government. The government is in disarray, the party is in disarray, there is no common position between the party and the government and that is why nothing seems to be moving in the country. “That is why their run has been that of dismal failure; whether in the area of the economy or any other sector. That is what happens when a party comes to power without a clear agenda, without a genuine interest in the affairs of the people. “The APC desperately came to power just to take power for the sake of it, not to do anything and what is manifesting now is total confusion; because if there was a programme, all of them could have seen where they were headed. That is why everyone has his own different approach to issues. “All these things are happening at the expense of the development and even the unity of the country which is unfortunate. The APC enlisted the likes of Itse Sagay because of his capacity for rabble rousing just to attack PDP. I see more of these coming ahead of 2019.” While the president deserves commendation for stepping in quickly (some say he has no choice) to resolve the dispute between Kachikwu and Baru, he should immediately intervene in many other internal frictions within his government.

T H I S D AY ˾ MONDAY, OCTOMBER 9, 2017

PERSPECTIVE

Difficult Decisions Buhari Must Make Senator Ayo Arise contends that history has given President Muhammadu Buhari a unique opportunity to end all agitations for secession and make Nigeria the pride of the black race

have read the document outlining the position of the Yoruba people and I think it is very brilliant. I rather prefer the presidential system of government with adequate rule of law and with many of the points raised during the Yoruba leaders meeting to form part of a new or amended constitution. The major problematic area is the lack of practice of true federalism as practised in the United States of America. Thurgood Marshall opined on the American constitution as imperfect but it remained the best the world could offer. The imperfections were noticed and for over two centuries, amendments still continue towards getting a near perfect document, on how people and government can relate together to achieve the right of individuals to pursue freedom, and happiness within the structure of a regulated society. We distribute offices based on federal character without consideration for contribution towards the federalism hence the anger, the insults and the desire for a better and more just society. The greatest imbalance of our structure emanated during the military era of command structure when a single individual can unilaterally create a state and numerous local governments without regard to productivity or any reasonable basis for decision making, outside nepotism and raw abuse of power. We, the people of Nigeria have now worked with the bequeathed constitution and we are fortunate enough to realize that for Nigeria to continue to function as a State, adjustments are required to prevent us from taking the route of less fortunate people of countries like Sudan, Somalia, Yugoslavia and many others. We are truly a blessed nation to realize this early enough that if we do not embrace change, change would change us for the worse. Looking at the areas of serious contention, we need to make some hard decisions in the area of devolution of power from the centre to the states. Do we need to create new structures outside the current ones such as regional government? Methinks that the answer is ‘No’ for various reasons; the current structure is benefiting some areas of the country and they would not let go of the advantages they already have. I will rather suggest that we find a way of working with what we have and remove the impediments for growth, so that states can start to enjoy the benefits of their natural endowment and innovation. There has been some strong position on the adjustment of the revenue sharing formula. This is the minimum the federal government can sacrifice for a United Nigeria. We have the example of America that continues to grow by acquiring more territories that have now become part of the United States. The idea of states controlling their endowed natural resources and paying taxes to the federal government has blossomed and made America the country it is today. Since examples abound, we do not need to reinvent the wheel before we know what has worked for the US where we copied our constitution from. It is an enduring formula that we need to copy. The state and local government or city police has become an albatross on the current National Assembly. There is the fear that the states would turn such state police to agents of oppression in their respective states. There is no question that they would try but my position on such postulation is that we the people should plan for the good of society while we strengthen our laws and enforcement agencies to take care of the criminals. The long arm of the law would invariably catch up with wrong doers. Note that as recent as the last 50 years, there were

Arise

sheriffs who participated in organized crime in their communities including murder of black men particularly in some southern states of the United States. Gradually and systematically, the country rose up to correct the great anomalies of the criminal minded people of that period. We are fortunate that we are now in the era of technology where we can locate the position of law enforcement officers at any point in time using GPRS. Today in America, once a policeman stops you, it becomes mandatory for such officer to activate the video camera that captures every conversation and action. Those who do not comply are quickly shown the door out. Today in Nigeria, most telephones now carry a camera. We can train our people to utilize such devises to promote law and order in our country. These video cameras would be used to capture erring local police officers who would certainly face prosecution in the face of such evidence. The federal police would still have superior authority in matters relating to federal offences. Things like wire fraud, internet fraud, murder where the criminal has crossed state borders to another jurisdiction, racial discrimination of any kind including the likes of IPOB and those giving notice of evacuation to a particular tribe, postal fraud, custom and immigration fraud etc. all fall under federal crime. Murder is however a state crime in America and penalty ranges from imprisonment to capital punishment depending on the state. California gives maximum punishment of life imprisonment. Local government creation is another area of discontent between the north and the south. Whereas Kano state that had equal numbers of local government prior to

History beckons on President Muhhammadu Buhari who God brought at this trying moment of our national history to be the father of our nation and not a president that comes from the north of Nigeria

Abacha’s regime with Lagos State, now has over 60 including the over twenty created in Jigawa when the latter was created out of Kano State. Lagos still remains 20. This is one of the greatest problems created for the people of Nigeria by the junta of yesteryears. My take is that local government list should be removed from our constitution and the restructuring should allow states to create their local government based on viability and ability of the states to support large numbers of local governments. The new amendment should only recognize two tiers of government. These should be the federal and the states. Taxes from LGAs should be paid to the states and the states thereafter share in whatever percentages agreed upon with the federal and local government. Regional government is not a panacea for good governance. I see it as another bottleneck between the governors and the governed. We are all now very suspicious of the federal government, why should we create another layer of public waste to line a different kind of pocket? The regional government of old had a premier but now imagine several states having governors under a premier and under a president. As good as it sounds on paper; sooner or later there would be another row of agitation within the regions. It is certain that this will be a difficult sell. Part of the fear is for the future where the regions could become another front for embezzlement and tyranny of the states. My suggestion is that we should strive towards devolution of power and a restructured federal government. The National Assembly as currently constituted will continue to attract criticism based on the quantum of money spent to maintain our legislators. It is pertinent to note that the United States has 50 states and 100 senators. Nigeria with 36 States already has 109 senators. We should quickly prune down the number of senators to 2 per state taking cognizance of possibility to create more states in the future. The senatorial election in each state should be statewide. This is one of the reasons why a senator in the US tends to be more recognized than the governors and why governors next logical move in America is either the Senate or the Presidency. . Those who wrote the 1979 and 1999 constitution missed a very vital reason as to why election to the US congress is every two years whereas that of the president is every 4 years. The first session of the Senate of the United States in 1789 divided themselves

into three groups. By ballot some went for election after two years, some after 4 years and the last after 6 years. This ensured that at every election there are 66% of the senators as incumbent to carry on the business of law making by passing their experience to the newly elected legislators. This is a very great accomplishment of people who could anticipate the future. Should we now wait till we are faced with a situation where all our senators are voted out and replaced by an accidental electoral tsunami before we do what is right? I pushed for this during the constitutional amendments of 2010 during the committee debates. Though the Deputy Senate President agreed with me in principle but who was willing to sacrifice his 4 years for 2 years? For the records, I was willing to do that so that my other colleagues from Ekiti could take 4 and 6 years respectively. (I have no doubt in my mind that if the discussion had made it to the Senate floor, there would be other people who could have volunteered to take 2 years and go for election for another 6 years).Our greatest challenge was how to get such amendment to pass the House of Representatives when the American system recommends 2 years tenure for their House of Representative members. This is now in the public arena and we should not make the mistake that we are insulated against such occurrence. Issues like this can be put to vote during general elections until our people are sufficiently educated to vote correctly. Election of the congress should be every two years, with a six years tenure for the Senate and a two years tenure for the Representative members. This would guarantee staggered election so that once some members are leaving, there would still be some experienced members left to welcome the new comers. Let us push for a federal system of government that completely copies the US system with emphasis on respect for the rule of law that all men are created equal. The position of the Senate President should be abolished and replaced by the Vice President to ensure that manifestos of the ruling party can be mostly achieved in the event of a voting tie. History beckons on President Muhhammadu Buhari who God brought at this trying moment of our national history to be the father of our nation and not a president that comes from the north of Nigeria. Some of us know that Texas was a Republic until it agreed to join the United States in 1845. States of California, Arizona, New Mexico, Colorado and Utah were all part of Mexico with Spanish people. The New England States were inhabited by people from England and Ireland. The Italians and Germans dominated New York and Pennsylvania. Today, we only know about Americans. Despite the fact that Washington, Adams, Jefferson, Madison all came from the northern part of America, it did not stop them from granting freedom to control resources by states where such came from. This helped to build the trust that made a republic step down from a country status to become a state in America. The impetus is the sense of fairness, equity and justice that galvanized the prosperity that America enjoys today. This is all that Nigerians ask of this government. Let us impress it on members of the National Assembly that we are in a dire state that requires seeing beyond our noses when called to action in resolving the looming danger facing our nation today. Every great leader had made some difficult decision to affect the course of history of nations and mankind. President Muhammadu Buhari, this is your time and moment in history to end all agitation for secession and make this nation the greatest pride for the black race.

MONDAY, OCTOBER 9, 2017, ˾ T H I S D AY

FEATURES

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

The Man Who Froze Benin Kingdom Using photography, Solomon Alonge recorded one of the most dynamic periods in human history, writes Solomon Elusoji

n 1984, a Professor of Anthropology at New York University, Flora Kaplan, arrived Benin City. A Fulbright scholar, she taught Anthropology at the University of Benin for a couple of years. Once, she was at the Oba’s Palace on one of her numerous fieldworks and instinctually took the photograph of a chief donning a billowing white wrapper. “Why I took the photograph, I cannot say,” Kaplan said. “I simply liked his face.” A few weeks after the fortuitous shot, Kaplan was scheduled to meet with Queen Ohan Akenzua, the royal wife of the prior Benin king, Oba Akenzua II. Kaplan had first encountered Queen Ohan in 1980 when she chose her image from among a half dozen contact prints of Oba Akenzua’s queens, photographed by Ian Brinkworth in the 1950s, and featured her in the 1981 exhibition and catalogue Images of Power: Art of the Royal Court of Benin at NYU. On the morning of her visit to the royal abode, the Queen announced that she wanted Kaplan to see more photographs of her late husband, Oba Akenzua II, and her children. To get to these photos, they had to visit the most prestigious photo studio in town – Ideal Photo Studio – where Kaplan would meet, for the second time, the chief whom she had photographed – Solomon Alonge. Alonge, who had founded the Ideal Photo Studio in the 1940s, was the first professional Benin photographer and the man chosen as court photographer by Oba Akenzua II in 1933. As he brought out his prints to show Queen Ohan and Kaplan when they visited, it quickly became evident to the NYU professor that Alonge’s work had documented more than 50 years of rapid change under British rule and the slow revival of Benin court traditions, after the monarchy was demolished in the British expedition of 1897. “I was impressed by the efficiency of the system Alonge devised for his early glass plates and negatives, the efficacy of his storage cabinets, and the care he took of his cameras without air conditioning,” Kaplan said. The second meet led to an interview with Alonge, where Kaplan realised they both shared a mutual passion for photography. From there, a lifelong friendship blossomed. By the time Alonge died on October 30, 1994, he had entrusted most of his works to Kaplan, hoping that she would, one day, help find a permanent home for them.

Why Alonge matters

The products of Solomon Alonge’s photography are a tribute to history, a pantheon collection that recast the image of an entire kingdom. In 1897, when the British Empire waged war against the Benin Kingdom, they looted the ancient city of its precious and priceless artworks which included almost a thousand bronze plaques. The British then staged a mock trial to humiliate the centuries-old Benin monarchy, condemning Oba Ovonramwen for instigating the violence before banishing him from the land of his ancestors. While on the British steam yacht Ivy, the imperialists arranged a photo shoot for the Oba and specifically chose an image of a dejected Oba Ovonramwen in captivity for its propaganda against the kingdom, which was to cast it as a blood-sucking, human-sacrificing, banal race. “Two powerful images – a burnt-out Oba’s palace with the war booty of Benin artworks and a defeated Oba Ovonramwen in captivity – reinforced by the damning report Benin: The City of Blood written by R.H. Bacon, the intelligence officer to the expedition, contributed immensely toward defining and entrenching the outside’s world’s perception of the Benin kingdom, its monarchy, and peoples as evil and barbaric,” Nigerian documentary photographer, Tam Fiofori said. “Thus, a new phase in the world image of the Benin monarchy and its peoples began; in a word, it was simply demonic.” Interestingly, the Benin’s version of history is expressed through its tradition of bronze casting, which the British pilfered. The imperialists must have known this, because they were quite

One of Alonge's most iconic photograph showing the Earl of Plymouth (right) visiting a Benin king, Oba Akenzua II in 1938

enthusiastic in distributing those bronze castings across Europe, selling them on the international art scene while keeping some for themselves, breaking into fragments a people’s cohesive narrative, while perpetuating identity distortion. “Benin bronzes are not meant to be kept in museums and used as decorative pieces,” Oba Erediauwa told a BBC TV crew in 2009. “Rather, bronzes fill in for the absence of photography in Benin traditional society and the Oba’s court; as bronze castings are specifically used to depict and document important events and activities of a reigning Oba of Benin.” Oba Erediauwa’s acknowledgement of photography as a metaphor for bronze casting is striking. In the absence of the latter, it meant that those who practised the former had inadvertently taken up the sacred role of historians and storytellers, bestowed with the power to shape general consciousness. And this was exactly what Alonge did for more than 50 years, rewriting the Benin story one

In 1933, Alonge was chosen as the official court photographer by Oba Akenzua II and went on to capture the burgeoning palace festivals, distinguished visitors including Queen Elizabeth and Prince Philip in 1956, Princess Alexandra in 1960, Nnamdi Azikwe in 1938 and many others and events such as the coronations of Oba Akenzua II and Oba Erediauwa, who later made Alonge a member of the Iwebo Society, the oldest of the three palace societies

shot at a time, throwing light on dark crevices and exposing the blatant incredulity of British propaganda. Perhaps Fiofori puts it better when he noted that Alonge’s “claim to fame and permanent place of honour in the history of the acclaimed Benin Kingdom is his unquantifiable, yet very visible, role in redeeming the image of the Benin monarchy and the Benin-Edo peoples. It may not have been a premeditated or deliberate strategy. Nonetheless, as S.O. Alonge built a body of work – as the official court photographer to the Benin monarchy from 1933 to 1979 and as the proprietor of the Ideal Photo Studio – he created images that collectively changed, for the better, long-held perceived mind-sets and negative images of the Benin kingdom.” It is hard to say whether Alonge understood his place in history, but the evidence suggests he did, as he went out of his way to create a coherent picture of the Benin narrative. Flora Kaplan noted that Alonge preserved and extended early Benin history by acquiring negatives and prints from earlier photographers. “The earliest photographer in the city, he told me, was a Yoruba man who returned from Sierra Leone around 1922,” she said. “Koka was an itinerant photographer who travelled around to other ethnic groups living in towns like Sapele, Warri, Akure, Onitsha and Benin City, taking school photographs and special events. Few of his photographs have survived. In 1942, Koka transferred to Alonge a print and negative of Oba Eweka II in his full coral bead regalia, which Alonge hand-tinted.”

How the man was made

Alonge was born into the Oloke family in 1911. The Oloke family traces its ancestry to an important Benin chief, Ogbomo Norio Okaro, who was the Okavbiogbe in charge of land matters for Oba Osemwede in the early 17th Century. Alonge’s father, Idahosa, had been a palace chief during the reign of Oba Ovonramwen, who was still a British captive when Alonge drew his first oxygen. In 1911, the British were well in control of Benin City and its surroundings. In 1925, at the age of 14, Alonge walked with his father to his uncle’s house in Lagos. Alonge’s uncle was Samuel Izedomen Omere, one of the earliest British colonial employees educated in English, and a Christian who rose to be the chief clerk of prisons in Lagos. His father left the young Alonge with Omere, perhaps to allow him have a better chance of succeeding in the world. He was to complete his education to the sixth grade – the highest level then available for Africans in Nigeria – at the Baptist Church

Academy. “Fostering children within an extended family was an opportunity for a promising child to live with a family and benefit from those relatives who held desirable positions,” Kaplan, who has written extensively on the extreme importance of Alonge’s photography to the enrichment of the human experience, said. “They were clothed, fed, and educated to acquire good manners and skills and to learn new things.” Alonge excelled under this ‘foster-care’ arrangement. One of Uncle Omere’s wives told Kaplan of how “gentle, quiet and truthful” the young Alonge was, noting that he was “the best” among all the boys that boarded with them. “He is more than serious and doesn’t play with work,” the wife, whom Kaplan interviewed decades after, said. The Uncle Omere family attended St. Peter’s Anglican Church on Ajele Street and Kaplan noted that Alonge was seen as a leader among the other boys. “Each night before retiring, he read a psalm aloud to them, holding their interest and enriching their sense of duty in a wider world.” This sense of religious order and purpose seemed to have helped Alonge overcome – in the same way Calvinism helped the British build the right value system that made the industrial revolution possible – the arduous technical challenges of photography in the early 20th Century, despite having little tools to work with. For example, there was no electricity in Benin until 1945, and Alonge had to rely on gaslight paper and a hurricane lantern wrapped with red paper to make a darkroom. He printed with sunlight and once remarked to Kaplan: “I put it out in the sun, wait two to three minutes, then look at paper to see if the image is enough.” Between 1927 and 1928, Uncle Omere gave Alonge a Kodak Box Brownie camera. “It was a generous gift, then costing two to three pounds,” Kaplan said. “Omere and his friends had often asked Alonge to help them with their cameras, and now the young man had a camera of his own.” He quickly swung into action, taking pictures with his new equipment in Lagos into the end of the 1920s. In 1930, Uncle Omere was transferred to a higher post in Ghana and Alonge chose to return to Benin City where he continued with his photography. At first he rented a bicycle to travel to government schools in Ishan, Uromi, Irrua, Ikpoma and Ewu to take end-of-year student photograph; then, in 1930, he moved into 8, Ugbague Street, his family house, and set up a room to begin his professional life in photography.

MONDAY, OCTOBER 9, 2017, ˾ T H I S D AY

FEATURES

In 1940, Alonge began to retouch and tint photographs. “His customers were enthusiastic about colour,” Kaplan noted, “they ‘wanted to show their dresses’”. If clients wanted large photographs, he had to have them enlarged abroad. In the mid-1930s, Kaplan said, he figured out how to enlarge images by cutting a hole in the window, putting the camera outside the windowpane on a bracket, and facing the lens into the room. In 1933, Alonge was chosen as the official court photographer by Oba Akenzua II and went on to capture the burgeoning palace festivals, distinguished visitors (including Queen Elizabeth and Prince Philip in 1956, Princess Alexandra in 1960, Nnamdi Azikwe in 1938 and many others) and events such as the coronations of Oba Akenzua II and Oba Erediauwa, who later made Alonge a member of the Iwebo Society, the oldest of the three palace societies, and also bestowed on Alonge the honour of a white cloth for his burial. Alonge’s commercial portraits, however, have as much historical value as his royal shots. They showed a Benin society that was caught in the middle of sweeping changes and a cultural potpourri that had not mixed properly. His clients came to his Ideal Photo Studio with a sense of purpose, the same way Sizwe Bansi went to Styles: to capture a momentous chapter. “People often included a treasured possession, such as a car, a motorcycle, or a prize,” Kaplan said. “They wanted an image to mark an occasion – going abroad or returning from a trip, departing for school or university, or celebrating an award, special promotion, insignia, or uniform.”

Oba Akenzua II in a shandshake with Queen Elisabeth II, Queen of England, Chief Obafemi Awolowo (1st left), Prince Philip (st right), the Duke of Edinburgh in 1956

Coming home, again

On a sunny day last month, the National Museum of Benin was invaded by strobe lights and microphones, smart suits and flowing agbadas, and a coterie of speechmakers. The occasion was the return of Alonge’s photographs from the annals of the Smithsonian National Museum of African Art in Washington DC. In a country where art museums are mostly covered in cobwebs, dust and grime, it is not difficult to imagine how Alonge’s photographs ended up in Washington DC. After his death in 1994, Professor Kaplan, working hand in hand with the Alonge family, started to shop for a permanent home for the photographs, fragile documents that needed expert care. But that goal was not achieved until 2009, when the Smithsonian Museum decided to acquire the collection. Curiously, the Museum had earlier rejected the work in the 1990s. It was the boundless enthusiasm of the museum’s senior archivist, Dr. Amy Staples, who saw incredible value in the collection, that changed the museum’s opinion. “Alonge was not only documenting his own cultural heritage, he was inventing a visual language to record and preserve the history of the Benin Kingdom in the modern era,” Staples said. “This sets his work apart from colonial photographers who generally focused on staging exoticised images of Africans or ethnographic ‘types’ for popular consumption in Europe and America. As an archival collection, Alonge’s surviving images in their orginal formats – glass plate negatives, large format film and hand-

Alonge was not only documenting his own cultural heritage, he was inventing a visual language to record and preserve the history of the Benin Kingdom in the modern era. This sets his work apart from colonial photographers who generally focused on staging exoticised images of Africans or ethnographic ‘types’ for popular consumption in Europe and America

Another picture found in Alonge's collection depicting Queen Ohan Akenzua, royal wife of Oba Akenzua II, on a trip to London, England in 1956

coloured photographs – preserve a rare visual record of Benin royalty, art, and culture during a transitional period from British colonial rule to Nigerian independence in 1963.” After the acquisition in 2009, Staples travelled to Benin City to meet Oba Erediauwa and look for some of those who appeared in Alonge’s photographs, and their descendants. “Our first thought was that we have to bring this back to Benin, so that they know about their own visual history,” Dr. Staples told THISDAY. “Many of the photographs are very personal family photos. So at the Smithsonian, we do not just take collections and keep them under wraps; we seek out the communities from where the objects come and we go back to engage them with the exhibits. Many people didn’t know the photographs existed; they didn’t know what their grandparents looked like. So it’s really important to them personally to have some of these photos.” After receiving the blessings of Oba Erediauwa, the Smithsonian Museum held an exhibition of Alonge’s photography in Washington between September 17, 2014 and July 31, 2016. In July 2015, the Director General of Nigeria’s National Commission of Museum and Monuments (NCMM), Yusuf Usman and the then Director of the Smithsonian National Museum of African Art, Dr. Johnnetta Cole, signed a Memorandum of Understanding (MoU). The MoU stated that

A self portrait of Alonge in 1942

the Smithsonian was to gift every of the exhibit fabrications from its Washington exhibition of Alonge’s photography – the banners, the framed photographs, the labels, the panels – to the Benin Museum. However, the Kodak glass-plate negatives, from which the photographs being exhibited at the Benin Museum were printed, remain in the United States as properties of the Smithsonian. Usman suggested this was not important. “The original remains in the United States, but at least we have the replicas and we are going to use them to tell the story, of not just the royal court of Benin, but also of Benin in the 20th Century. This helps us to plan and understand where we have been as a country, where we are and where we are going.” Staples also stressed that “if the Alonge collection had stayed here (Benin), it would have been completely deteriorated at this point. And nobody would have been able to share in that story. So we (Smithsonian) try to play that role: preservationists for the world.” She is right. In fact, that the collection survived is as a result of Alonge’s keen archival and documentarian sensibilities. “His glass plates negatives were well ordered in storage cabinets and out of the heat and humidity as much as possible,” Staples said. One of Nigeria’s most important contemporary artists, Victor Ehikhamenor, said that the ‘return’

was a welcome development. “It’s beyond words,” he said. “We have to start from somewhere. And a situation where archives are maintained, so that history can be retained and the future generations will know what has happened, is always welcome. We need more of these things. But this is a good starting point.” Conversely, he noted that Nigerian governments do not pay attention to preserving “our history. We don’t have to always wait for outsiders to poke us to do the right thing.” Interestingly, the photographs’ return resulted in the renovation of the Benin Museum, which had not undergone any major facelift since it was first built during the military administration of Samuel Ogbemudia in the late 1960s. The renovation was hugely supported by the Benin Committee, a group of distinguished professionals that includes the current Governor of Edo State, Godwin Obaseki. Obaseki had become involved in Alonge’s photography sometime in 2009 after discovering his mother, Stella Gbinigie, had visited the famous photographer as a 16-year old to have her portrait taken. The fundamental lesson that rears its head from Alonge’s story is the timelessness of great art. The cameraman is dead, but his photographs continue to imbue life into those who stare at them; they continue to parrot the tales of dead men and a chequered history; they continue to show us the painstaking evolution of change.

IMAGES

MONDAY, OCTOBER 9, 2017, ˾ T H I S D AY

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

L-R: Governor Godwin Obaseki of Edo State, Secretary to the State Government, Osarodion Ogie Esq. ; Permanent Secretary, Ministry of Agriculture, Mr. Bashir Kadiri; Hon. Commissioner for Agriculture, Edo State, Mr. Monday Osaigbovo and the MD, Saro Agro-Sciences Ltd., Mr. Oluwole Adeyegbe, during the governor’s inspection of the 450 hectares maize farm joint venture in Sobe, Owan West L.G.A. of the State...recently

L-R:, Director, Corporate Communications & CSR, Airtel Nigeria, Emeka Oparah; Head Mistress, Oremeji Primary School II, Ajegunle, Kudirat Kasali and, CSR Lead, Airtel Nigeria, Chioma Okolie during the presentation of Airtel Outstanding Contribution to Education Award to the head mistress at Airtel Teachers training held in its adopted school, Oremeji Primary School in commemoration of World Teachers Day in Lagos..recently

L-R; Regional Service Manager, Abuja & North, First City Monument Bank (FCMB), Mr. Abubakar Soyemi; Governor of Borno State, Alhaji Kashim Shettima; Regional Director, Abuja & North, FCMB, Mr. Lukman Mustapha and Manager, Maiduguri Branch of the Bank, Mrs. Fatima Zaifada, during a courtesy visit by FCMB to the Governor in Maiduguri, Borno State, recently.

L-R; MD Miele Gallery Nigeria, Mr. Mustapha Olorunnimbe; CEO Conoil Plc, Dr. Moses Ebi Omatsola; Executive Managing Director Windowstory Nigeria, Arc. Hellen Hilary Uchechukwu and Sale Manager AFP- Julius Berger Nigeria Plc, Mr. Uche Uzoewulu .during the MADE BY DESIGN EXHIBITION in Lagos...recently

L-R: A new judge of the Oyo State High Court, Justice Adenike Adeeyo; state Governor, Senator Abiola Ajimobi; another new judge, Justice Adebukola Lajide; and the state’s Chief Judge, Justice Munta Abimbola, during the inauguration of the new judges by the governor, at the Executive Chamber of his oﬃce, in Ibadan...recently Photo: Governor’s Oﬃce

L-R;,Representative of Ogun State Commissioner for Education, Mr. Newton Soyinka Sojobi; Director- in –charge of Science and Technology, Ministry of Education, Mr. Sola Lawal; Winner of the O-Gas Cooking Competition/ student of Salawu Abiola Comprehensive High School(Jnr), Osiele; Miss Deborah Salako and Head, LPG, OVH Energy Marketing,Mr. Ganiyu Azeez at the O-Gas Regional Teens Can Cook Competition in Abeokuta, Ogun State...recently

L-R:Executive Director, Capital Market, Haruna Jalo Waziri; Group Managing Director/CEO, Red Star Express Plc, Olusola Obabori; Executive Director, Sales and Marketing, Red Star Express Plc, Victor Ukwat; Executive Director, Finance and Administration, Auwalu Babura, during Red Star Facts Behind the Figures presentation to Nigerian Stock Exchange in Lagos...recently.

L-R: Chief Executive Oﬃcer, Richardson Oil and Gas Ltd, Mr. Akin Osuntoki; Head of Psychiatry, College of Medicine, University of Ibadan, Prof Olayinka Omigbodun; Managing Director, Shell Nigeria Exploration and Production Company Ltd. ( SNEPCo), Mr. Bayo Ojulari; and General Manager, Policy, Government / Public Aﬀairs, Chevron Nigeria Ltd, Mr. Esimaje Brikinn, at the process safety and reliability group (PSRG) - RICHARDSON Health, Safety, Security and Environment (HSSE) Forum, in Lagos...recently etop ukutt

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Quick Takes Nestlé Introduces Ready-to-drink Milo

WOOING INVESTORS

L-R: Chairman of the occasion, Prof Fabian Ajogwu (SAN); Minister of Finance, Mrs. Kemi Adeosun; Chief Executive, Stanbic IBTC Holdings Plc, Mr. Yinka Sanni; Chief Executive, Stanbic IBTC Bank, Dr. Demola Sogunle; and Non-Executive Director, Stanbic IBTC Holdings PLC, Mrs. Salamatu Suleiman; at the 2017 Standard Bank East to West Africa Investors’ Conference in Lagos … recently

THISDAY Model Portfolios Maintain Steady Growth Goddy Egene THISDAY Model Portfolio (TMP), consisting of five different portfolio types constructed individually in conjunction with five leading stockbroking firms in the country with different investment objectives has maintained a steady growth for 15 weeks, generating a total return of N8.43 million on a combined hypothetical portfolio value of N50 million. The return, which amounts to about 16.8 per cent, is an improvement on the 12.9 per cent growth recorded for the week ended September 29, 2017. This implies that the TMP gained 3.9 per cent last week alone, compared with the 2.49 per cent posted by the Nigerian Stock Exchange (NSE) All-Share Index.

CAPITAL MARKET TMP, an initiative of THISDAY Economic and Financial Intelligence Unit (TEFIU), was designed to enable leading stockbrokers and investment houses in the country share their trading skills and methodologies with ordinary investors. The investment houses involved in the project are Afrinvest Limited, FSDH Securities Limited, Capital Assets Limited, Meristem Limited and Lead Advisory Limited . The project which began 15 weeks ago (July 3, 2017) involved asking each of the partnering stock broking houses in the country to construct a portfolio of 10 stocks selected according to their individual best judgement and using their best and

well tested stock selection and investment strategies. They were then asked to each deploy an imaginary fund of N10 million to invest on the ten stocks in whatever proportions they considered best. Analysis of the return indicates that portfolio C, which recorded the highest return of N2.3 million in 14 weeks, improved on that growth last week and rose to N2.763 million. This means that the portfolio has returned N2.7 million on the N10 million deployed, representing 27.6 per cent. Portfolio D generated the second highest return of N1.7 million (16.8 per cent as the week ended September 29, 2017 and it improved on the return last week, raising it to N2.1 million or 20.9 per cent.

Similarly, Portfolio B, which posted a return of N1.4 million (14.0 per cent) two weeks ago, improved on its performance to N1.83 million or 18.3 per cent. Portfolio A maintained its fourth position, closing last week with a return of N1.366 million (13.7 per cent), which is a significant growth compared with N0.9 million the previous week. Also, Portfolio E, recorded an improvement last week to raise its value of return to N0.380 million (3.8 per cent), up from N0.1 million (1.0 per cent) prior to last week. A further analysis of the individual portfolios, shows that Portfolio C, which has delivered the highest return

A Partner with PricewaterhouseCoopers (PwC) on Global Board for Leadership Development, Taiwo Oyedele, has stated that investing the N100 billion Sukuk fund in non-capital projects and

ECONOMY infrastructure would have negative impacts on the economy. He has therefore urged the federal government to ensure that the N100 billion is invested in capital projects

to stimulate economic growth. Oyedele stated this at the weekend in Lagos at the 2017 Empowerment Summit organised by the Professional Accountants Christian Ministry (PACM), a platform created for chartered accountants to discuss topical issues of concerns, interact

First Bank Marks Sustainability Week

As part of efforts to give back to the society, FirstBank of Nigeria Plc recently organised the maiden public Corporate Responsibility and Sustainability (CR and S) initiatives. Addressing journalists at the Career Counseling Day in Girls Academy Lagos Island, the bank’s Head, Corporate Responsibility and Sustainability, Ismail Omamegbe, said the event was aimed at giving back to its customers which connects with the theme of the week is: ‘Promoting kindness and putting you first.’ He also stated that the initiative was aimed at putting stakeholders in the forefront, adding that as part of activities for the week, they are focusing on three main key activities such as giving, visit to orphanage homes and career counseling. Omamegbe further stated that the three events took place in Guinean, Democratic Republic of Congo, Sierra-Leone, Ghana and the United Kingdom. The bank in a statement said one of the major highlights of the week was the Staﬀ Promoting Acts of Random Kindness (SPARK) initiative. It stated that the week-long activities would enable the bank employees give their time and resources to promote random acts of kindness within their communities, drive welfare eﬀorts through giving and visits to orphanage homes and Internally Displaced Persons camps (IDPs). It added: “First Bank CR and S week is the first of its kind in the Financial Service industry in Nigeria and it would spotlight the bank’s corporate citizenship interventions to drive positive impact across various communities all in one week.”

Continued on page 24

Invest Sukuk Fund in Capital Projects to Stimulate Economy, FG Advised Ugo Aliogo, Kumdan Mercy and Lawal Afolabi

Nestlé Nigeria has introduced Milo energy food drink in a ready-to –drink (RTD) format to meet the nutrition needs of active children in a convenient packaging. In a statement obtained by THISDAY, Milo is made from natural products like cocoa, malt, and milk and contains no preservatives. “It provides essential nutrients such as proteins as well as Nestlé’s blend of vitamins, ACTIV-GO (vitamins B3, B2, B6, B12, vitamin C, and vitamin D) and minerals including calcium and Iron. A pack of 180 ml Milo RTD gives children nutritious energy that keeps them performing at their best throughout the day.” According to the Managing Director and CEO of Nestlé Nigeria Mr. Mauricio Alarcon, Milo RTD combines the great Milo taste and high nutritional value into a format that meets the needs of parents who want to ensure that their children are getting the right nourishment daily. “Milo in the ready to drink format, is now readily available to families across Nigeria,” he said: “Now parents can include Milo RTD in children’s lunch boxes and be reassured that their children have the appropriate, healthy snack time option when out of their homes. The new RTD format is inspired by Nestlé’s desire to help meet the needs of growing children whilst adhering to Nestlé’s high-quality standards.” Nestlé’s Senior Vice President for Asia, Oceania, and sub-Saharan Africa, John Miller, who unveiled the drink at a ceremony held in Lagos said: “Investing in Nigeria’s economy forms part of our global business strategy to drive innovation with nutrition based solutions that enable healthier and happier lives.” Seun, a young mother of 3 children who was present at the unveiling said: “Now, with Milo Ready to Drink, I am relieved to know that I will be giving her the right nutrition for her daily activities especially in school.” Nestlé Milo has built a rich heritage in Nigeria as the food drink of champions, inspiring early participation in grassroots sports by encouraging sports development for over 19 years. In 2017 alone, 100,000 students from the 36 states of the federation participated in the Milo Basketball Championships. The brand is committed to continue to inspire the youth to participate in sports as it believes that this is a platform for them to learn valuable life lessons such as respect, teamwork, perseverance and resilience for their success, not only on the field but also in other areas of their life.

with opinion leaders and equip members with the latest information. He urged the federal government to ensure that the fund is judiciously invested to fund projects which are selffinancing and yield returns Continued on page 24

“Once we are able to demonstrate our capacity to do research that is needs based, I believed philanthropists as well as friends of the communities would participate in sponsoring research” Director General of Nigerian Institute of Pharmaceutical Research and Development

Prof. Karniyus Gamaniel

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

BUSINESSWORLD INVEST SUKUK FUND IN CAPITAL PROJECTS TO STIMULATE ECONOMY, FG ADVISED

on investments. He expressed confidence in the words of the Minister of Finance, Mrs. Kemi Adeosun, who recently noted that the fund would be invested in capital projects, stressing that this would help in repositioning the economy after the exit from recession. Oyedele further stated that borrowing is a huge challenge for the economy, but noted that the country’s Gross Domestic Product (GDP) to debt ratio is low judging by global standards. “It is under 20 per cent, compared to the United State (US) where it is 90 per cent,” he said. He however noted that there is no revenue to support borrowing, adding that when borrowing is carried out, the debt needs to be serviced. He lamented that government does not have enough revenue to take care of infrastructure, pay salaries of public servants and do other things. He said: “Government has no choice, but to borrow that is why the debt profile is rising. We have to do things differently so that we can raise money internally to fund infrastructural and capital projects. Taxation is an important issue therefore government should take a critical look at it. The economy cannot continue to depend on oil. When you borrow to finance a road project that has toll, it is a project that is capable of paying for itself. But you borrow to take pilgrims for Hajj or Jerusalem that is a disaster waiting to happen. We cannot afford anymore.” The Director-General of the Debt Management Office (DMO), Patience Oniha, recently said that the N100billion raised by the government through Sukuk, would be spent on critical road infrastructure across the country. The DMO boss assured potential investors that the Sukuk was backed by the full faith of government and was one of the avenues through which it intended to raise funds for capital projects.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

Nume Ekeghe (Money Market) Nosa Alekhuogie (AgriBusiness)

NEWS

THISDAY MODEL PORTFOLIOS MAINTAIN STEADY GROWTH of 27.6 per cent across board, has all the 10 stocks in the positive territory. The highest gainer among the stocks in the portfolio since the introduction of the TMP is

58 per cent. Another stock followed with 45 per cent, while the third highest gainer recorded 35.7 per cent, while the fourth highest gainer is 32.8 per cent.

Others included: 21 per cent; 18 per cent; 18.1 per cent; 14.6 per cent; 7.4 per cent and 5.6 per cent. Portfolio B, which has recorded an overall return of

FG Endorses Sustainable, Self-funding Database for ECOWAS Region Ndubuisi Francis and Udora Orizu in Abuja The federal government has commended the drive by the West Africa Quality System Programme (WAQSP) to establish a database on quality and industry within the Economic Community of West Africa (ECOWAS) region, noting that Nigeria appreciates the import of quality and industrial database and the need to set up a sustainable and self-funding one. The WASQP-driven database is mainly for economic operators in the region, and would provide concrete answers in response to the many requests for statistical data in the region. The Minister of Industry, Trade and Investment, Dr. Okechukwu Enelamah, who spoke in Abuja at the regional information workshop for the validation of the draft framework document for the implementation of the Ecowas Quality and Industry Database, expressed delight at the technical validation meeting of the framework document for the establishment of the ECOWAS quality and industry database. Represented by the Director of industry, Dr. Francis Alanene, the minister noted that the importance of database to industrialisation cannot be over-emphasised, adding database assists in monitoring and assessing productivity performance as well as provides a guide for policy making. According to him, database enhances the quality and consis-

tency of the industrial statistics so as to provide meaningful input for assuring productivity and industrial performance, stressing that database has created a completely new dimension of growth in the world. Enelamah noted that the new initiative to establish ECOWAS quality and industrial database was a welcome development in the region, pointing out that by accurately recording industrial data, updating and tracking such data on an efficient and regular basis, nations would have the opportunity to address their industrial challenges on one hand and still make use of the immense potential offered by the sector. He stated that the statistical information generated would ever be useful by a wide range of users, including national governments, international development partners, academic research institutions and the business community. This tool, according to him, would be helpful in strengthening technical capacity for conducting industrial surveys, maintaining, updating business registers and short-term statistical indicators and carry out data analysis of industrial performance. Enelamah believes that at the end of the workshop, the document would be a veritable tool for industry development, while drive will definitely transform the economy of the region and reposition the industrial sector of each member-state. Also speaking at the event,

the representative of European Union (EU) Delegation in Nigeria to ECOWAS, Mr. Jens Hoegel, who is also the First Counsellor and Head of Health Nutrition and Resilience Section explained that the event was part of WASQP, which is funded to the tune of 12 million euros by the EU with the aim to set up a regional quality infrastructure He added that the project was well aligned with the ECOWAS industrial development plan and the efforts to improve the overall competitiveness of West Africa and requires a strong collaboration with the private sector in the region. WAQSP, which is implemented by the United Nations Development Organisation (UNIDO), is funded by the EU. The programme supports the implementation of the ECOWAS regional quality policy with the aim to “establish a framework for the development and exploitation of appropriate, relevant, effective and efficient quality infrastructures, to facilitate intra-regional and international trade, protect the consumer and environment and promote sustainable economic development”. Within this framework, the WAQSP plans, among others, to establish a database on quality and industry within the ECOWAS region. This database is mainly for economic operators in the region. It will provide concrete answers in response to the many requests for statistical data.

20.9 per cent, has only one negative performing stock as at last Friday. The highest price gainer among the stocks in this portfolio is 58 per cent, followed by two stocks

with 35.7 per cent apiece. Another two stocks recorded 21.9 per cent each, yet another stock has posted a gain of 20.9 per cent. Others are: 18 per cent and 0.10 per cent.

Shittu: Investments in ICT Have Enhanced Devt in Nigeria

Emma Okonji

The Minister of Communications, Adebayo Shittu has said that investments in the Information and Communications Technology (ICT) since 2001 when digital mobile services were launched, have helped Nigeria to build an all inclusive society that the country could be proud of. Shittu, who made the disclosure in a keynote address he delivered at the 6th European Union-Nigeria Business Forum 2017 held recently at the Eko Hotels, Lagos, said the Nigerian ICT sector today is one of the fastest growing despite the economic recession and contributed 9.8 per cent in GDP in 2014 alone. The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Prof. Umar Garba Danbatta, had last week in Busan, South Korea, during the just concluded ITU Telecom World, revealed that investments in the telecoms sector since 2001, have reached $70 billion. According to Danbatta, “In 16 years since the Digital Mobile Licences (DML) were issued, investment in the sector has hit about $70 billion from a mere $50 million in 2001. Most of these investments are Foreign Direct Investments (FDIs).” Shittu in his address, said: “Nigeria is also using ICTs to build a more inclusive society. Our broadband initiatives, which are being implemented across technologies and at various level of governance, are in line with union’s priority of bridging

digital bridge and providing broadband for all. Nigeria is committed to a sustainable ICT environment at a global level, as well as within its national boundaries”. He said the Nigerian government is addressing the issues of investment in ICT infrastructure, and ICT education and regulation in order to build on the successes of this digital revolution. According to the minister, the government of Nigeria has been conscious of the role ICT can play in national development and has therefore been committed over the last 15 years to ensuring that ICT facilities and services are expanded rapidly. “Globally ICT has become a veritable tool for advancing growth and economic diversification in countries, even those that are not endowed with natural resources. ICT has changed the way people communicate, learn, and conduct businesses. A World Bank econometric study carried out in 2009 showed that every 10 per cent increase in ICT investments generates a 1.38 per cent increase in GDP”. Speaking further on the significance of ICT, the minister said: “In order for the ICT sector to supplement or replace the oil and gas sector, we have put in place strong policy frameworks which favour the sector. We want the ICT sector to be the cash cow for our nation. The success of local content drive in the telecom and ICT in Nigeria would accelerate the progress of the sector.”

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

BUSINESSWORLD

MARKET REPORT

Equities Market Rebounds on Q3 Earnings Expectations Goddy Egene and Nosa Alekhuogie

Continental Reinsurance Plc with 4.9 per cent respectively. Mobil Oil Nigeria Plc shed 4.8 per cent, just as Law Union & Rock Insurance Plc went down by 4.3 per cent. FCMB Bank Group Plc and Transcorp Plc depreciated by 3.7 per cent and 3.6 per cent in that order. In terms of sectoral performance, the NSE Industrial Goods Index led gainers, with up 2.8 per cent as a result of appreciations in Dangote Cement (+2.4 per cent) and Lafarge Africa(+4.0 per cent). The NSE Banking Index followed with a growth of 0.8 per cent, while , upticks in Nigerian Breweries Plc (+1.2 per cent) lifted the NSE Consumers Goods Index by 0.5 per cent. Conversely, the NSE Insurance Index and NSE Oil & Gas Index appreciated by 0.4 per cent apiece. The bulls consolidated their control of the market, lifted the index by 1.53 per cent, bringing the week-on-week gain to 2.49 per cent and year-to-date growth to 35.15 per cent.

Bargain hunting took over trading at the stock last week as investors’ sentiments turned positive ahead of third quarter earnings season. Having shed 0.14 per cent the previous week, the market rebounded last week to completely reverse the previous week’s loss. Nigerian Stock Exchange (NSE) All-Share Index (ASI) appreciated by 2.49 per cent to close at 36, 320.93, market capitalisation added N285.3 billion to close higher at N12.502 trillion. Market analysts linked the positive performance to investors’ moves to take position ahead of announcement of Q3 results. Apart from the benchmark gauge that gained, all other Indices finished higher during the week with the exception of NSE Insurance index that depreciated by 1.21% while the NSE ASeM Index closed flat. According to analysts at Cordros Capital Limited, they expect performance in this week to be driven by investors taking position in fundamentally sound stocks ahead of Q3 earnings releases, and profit taking in large cap counters, following the gains recorded last week. “Overall, the impact of bargain hunting will more than outweigh the snippets of profit taking,” they said. Daily Market Performance Trading opened for the week on a low note on Tuesday as there was no trading on Monday due to public holiday to market Nigeria’s 57th anniversary. The benchmark index shed 0.38 per cent to close lower at 35,306.09, indicating persistent negative investors’ sentiments that enveloped the market the previous week. A total of 22 stocks depreciated compared with 18 that appreciated. Unity Bank Plc led the price losers with 5.0 per cent, trailed by PZ Cussons Nigeria Plc and United Capital Plc with 4.9 per cent apiece. PZ Cussons yesterday reported its first quarter results, where it recorded a loss of N123 million, an improvement on the N1.585 billion in the corresponding period of 2016. Cadbury Nigeria Plc shed 4.8 per cent, just as Sterling Bank Plc, Glaxosmithkline Consumer Nigeria Plc and Jaiz Bank Plc went down by 4.7 per cent, 4.5 per cent and 4.2 per cent in that order. On the positive side, C & I Leasing Plc recorded the highest price gain of 9.8 per cent, trailed by Learn Africa Plc with 6.7 per cent. Caverton and N.E.M Insurance Plc appreciated by 4.8 per cent and 4.3 per cent respectively. Union Bank of Nigeria Plc and Guinness Nigeria Plc added 3.9 per cent and 3.6 per cent respectively. Union Bank is currently in the market raising about N50 billion from existing shareholders. The bank is offering 12.1 billion ordinary shares of 50 kobo at N4.10. Meanwhile, the NSE Consumer Goods Index fell 0.9 per cent to lead the sectoral decliners due to the fall in the share prices of Nigerian Breweries Plc and PZ. Losses in Forte Oil Plc and Oando Plc dragged the NSE Oil & Gas Index 0.3 per cent. The market recovered on Wednesday with the index, appreciating by 0.15 per cent to close at 35,358.57. Nine stocks advanced, while 18 depreciated. However, C & I Leasing Plc remained the top price gainer, garnering 9.5 per cent to close at N1.96 per share. The stock had the previous week led the price gainers, chalking up 28.3 per cent. It had last week with a growth of 9.8 per cent before garnering 9.5 per cent on Wednesday.

Market operators attributed the renewed demand for C & I Leasing to company’s prospects. The leasing firm reported a highly impressive results for the six months ended June 30, 2017 with revenue growing by 32.3 per cent, while profit after tax (PAT) soared by 298 per cent. Meanwhile, NASCON Allied Industries Plc closed as the second highest price gainer with 4.9 per cent, followed by UACN Property Development Company Plc and Vitafoam Nigeria Plc chalked up 4.7 per cent apiece Conversely, MRS Oil Nigeria Plc led the price losers with 4.9 per cent, trailed by Continental Reinsurance Plc with 4.6 per cent. Learn Africa Plc, Unity Bank Plc and Dangote Sugar Refinery Plc 3.8 per cent, 3.5 per cent and 3.3 per cent trailed in order. Commenting on the market performance, analysts at Meristem Securities

Limited said: “The gain recorded in the equities market can be attributed to investors taking advantage of the relatively low prices of the market heavyweights, which witnessed days of consecutive declines. We expect the current positive sentiments to linger in the coming days.” When trading resumed on Thursday, the market extended its gains to the second day as bargain hunting in value stocks by investors continued. Thirtyone stocks added value compared with 14 others that shed value. Market analysts said the positive sentiments are being propelled by investors’ moves to position themselves ahead of the third quarter earnings season. Companies are expected to begin to announce their results for the Q3 ended September 30, 2017. The renewed demand for by investors, ahead of the Q3 earnings season further lifted the index by 1.17 per cent to close at 35,773.98. Similarly,

the market capitalisation added N142.9 billion to close at N12.3 trillion. Also, volume of trading rose by 82.4 per cent as investors exchanged N317.4 million shares worth N2.9 billion. The price gainers comprised many bellwether stocks. But Linkage Assurance Plc led the price gainers with 8.7 per cent, trailed by Presco Plc with 5.0 per cent, while Dangote Flour Nigeria Plc followed with 4.7 per cent. NPF Microfinance Bank Plc garnered 4.5 per cent, just as Caverton chalked up 4.3 per cent. Other top price gainers included: Lafarge Africa Plc (4.0 per cent); Unity Bank Plc (3.6 per cent);Dangote Cement Plc(2.3 per cent); Vitafoam Nigeria Plc(2.2 per cent); United Bank for Africa Plc (2.2 per cent) and Skye Bank Plc (1.9 per cent). Conversely, Cadbury Nigeria Plc led the price loses with 5.0 per cent, trailed by MRS Oil Nigeria Plc and

Market Turnover Meanwhile, investors traded 1.493 billion shares worth N15.107 billion in 14,549 deals, as against 1.326 billion shares valued at N14.086 billion that exchanged hands in 14,703 deals the previous week. The Financial Services Industry remained the most active with 1.288 billion shares valued at N10.121 billion traded in 8,334 deals, thus contributing 86.30 per cent and 66.99 per cent to the total equity turnover volume and value respectively. The Consumer Goods Industry followed with 89.259 million shares worth N3.154 billion in 2,760 deals. The third place was occupied by Conglomerates Industry with a turnover of 49.361 million shares worth N113.737 million in 491 deals. Also traded during the week were a total of 2,000 units of Exchange Traded Products (ETPs) value at N34,000.00 executed in one deal compared with a total of 274 units valued at N636,147.90 transacted in 18 deals two weeks ago. Similarly, a total of 2,360 units of Federal Government Bonds valued at N2.029 million were traded in seven deals, compared with a total of 7,424 units valued at N6.689 million transacted in 18 weeks the previous week. Price Gainers and Losers In terms of price movement, 38 equities appreciated higher than 32 of the previous week, while 26 equities depreciated in price, lower than 32 equities of the preceding week. C & I Leasing maintained the number one spot on the gainers table, advancing by 19.6 per cent. Caverton trailed by 18.2 per cent, while Presco Plc appreciated by 15.2 per cent. Lafarge Africa Plc garnered 13.0 per cent, just as NAHCO Plc and United Bank for Africa Plc chalked up 10.0 per cent and 9.2 per cent respectively. Other top price gainers were: Linkage Assurance Plc (8.7 per cent); NPF MFB (7.2 per cent); Vitafoam Nigeria Plc (7.1 per cent) and Zenith Bank Plc (6.8 per cent). Conversely, MRS Oil Nigeria Plc led the price losers’ chart with 14.1 per cent, trailed by Continental Reinsurance Plc with 12 per cent. PZ Cussons Nigeria Plc shed 9.4 per cent, while Unity Bank Plc and Cadbury Nigeria Plc went down by 8.3 per cent and 6.0 per cent respectively. Other top losers were: Jaiz Bank Plc (5.7 per cent); Cutix Plc(4.8 per cent); Sterling Bank Plc (4.7 per cent); Glaxosmithkline Consumer Nigeria Plc (4.5 per cent) and Law Union Rock Insurance Plc (4.3 per cent).

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

BUSINESSWORLD

INSIDE BROAD STREET

AKINWUNMI IBRAHIM

A view of Lagos financial district

Treasury Bills Yield Drops to 15-month Low Obinna Chima Yields for the 364-day treasury bills at the last auction dropped to a 15-month low of 15.72 per cent, which may imply the end of abnormal high yield for the debt instrument observed in the market in recent time. The Debt Management Office (DMO) lowered the yields it offered at the treasury bill auction to raise N130 billion after investors submitted bids four times in excess of the amount it wanted to sell. The DMO sold N129.77 billion in 91-day, 182-day and 364-day bills at the auction but received bids totalling N526.36 billion. The interest rate on 364-day treasury bills may have triggered a conversation on interest rate direction for securities trading and pricing in Nigeria, according to an analyst at Ecobank Nigeria, Kunle Ezun said. The interest rate performance on 364-day treasury bills rate was a reflection of recent market development relating to federal government decision to sell dollar-backed treasury bills and a possible US$5.5 billion Eurobond issuance in November 2017. Owing to this, the 364-day treasury bills rate fell from a year to date high of 18.980 per cent in April to 15.7253 per cent in October 2017, thereby indicating 325 basis points drop over six months period. The Treasury bills, which are issued more frequently in standard benchmarks: 91-day, 182- day and 364-day for refinancing purpose is about N4.211.85 trillion year-to date in 2017. In addition, the Central Bank of Nigeria (CBN) has issued open market operations (OMO) bills to the tune of N4.722.34 trillion of various maturities at a weighted average rate of 18.32 per cent year to date in 2017. “Interest rate on 364-day treasury bills is on a downward trend, but how low can it go? The CBN has kept policy interest rate high at 14 per cent to anchor inflation and possibly ensure positive real return on naira denominated government securities in a high inflationary environment. “Interest rate on 364-day treasury bills will continue to drop, and possibly align with the policy interest rate of 14 per cent in fourth quarter 2017.. However, if the CBN decides to tweak its monetary policy stance to support economic growth, the interest rate might drop further down,” Ezun opined.

MARKET INDICATOR At the last auction, investors bid as much as 18 per cent for one-year debt and as low as the 13.25 per cent it paid for the three-month note. The federal government is considering issuing a $2.5 billion Eurobond before the end of the year, the latest in a series of debt sales as the government seeks to fund a record budget for 2017. The Director General of the Debt Management Office (DMO), Patience Oniha, disclosed this recently. The federal government’s N7.44 trillion budget was meant to fuel growth after the economy pulled out of its first downturn in a quarter of a century in the second quarter of 2017. The mid-November issue would complement the $1.5 billion raised in Eurobond sales in February and March. She had said Nigeria needed to build stronger and responsive institutions that could support infrastructure agenda of the government. According to her, the government had proposed to channel new borrowings into capital investments instead of consumption. Meanwhile, following expectations of improved economic stability in Nigeria, BlackRock Incorporated, an American global investment management corporation based in New York City, plans to take advantage of opportunities in Nigeria’s bond market as part of efforts to raise performance in its bond offerings. BlackRock favours Nigeria as well as oil producers such as Russia, Colombia and Kazakhstan, the company’s Sergio Trigo Paz, told Reuters in an interview, highlighting the West African country as one where he is planning to enter local markets. “We are moving into some countries even deeper because we feel that the macro environment is much more stable than it was and likely to improve going forward,” Trigo Paz said at the New York headquarters of the world’s largest asset manager. “With regard to sub-asset classes, local markets are still the place to be,” he added, noting that he expects the United States dollar to be less of a driver for local market returns. Investors have been piling into Nigerian bonds due to high yields and stable currency for investors especially as an improving inflation outlook may mean that yields could start to

decline.

Anchor Borrowers’ Programme

Over 200,000 small holding farmers in 29 states of the country, cultivating eight different commodities have received N43billion so far disbursed by the CBN under its Anchor Borrowers’ Programme (ABP) which was launched in November 2015, Governor of CBN, Mr. Godwin Emefiele disclosed last week. According to Emefiele, the ABP has so far achieved tremendous success in terms of outreach and coverage, making it one of the most successful of CBN’s development finance initiatives to date. Speaking during the launch of the Presidential Initiative on Agriculture and Youth Empowerment Programme, Emefiele said though the government was targeting an expanded job generation from the scheme, rising from its initial target of 10,000 fresh jobs to 130,000 new jobs in each of the states. “The 10,000 target per state is the very least. That is if the state is lazy. Already, Jigawa has generated 56,000 jobs along the agriculture value chain from this programme. So, we have looked at it and we know 130,000 new jobs can be generated in each of the 29 states that have keyed into the scheme. It is new jobs and new initiatives. After attaining food sufficiency, the next stage is export to increase our foreign reserves. “Currently, the success of the programme has culminated in wealth creation for the small holder farmers, who hitherto had been crowded out of the formal financial system, deepening of markets and value addition along the value chain of the various commodities.”

New CBN Deputy Governor

President Muhammadu Buhari last week appointed 40-year-old Executive Director, Diamond Bank, Mrs. Aishah Ahmad as the next Deputy Governor of the CBN. Ahmad whose appointment is subject to Senate confirmation, will replace Dr. Sarah Alade who retired in March this year. A statement by the president’s chief spokesman, Mr. Femi Adesina, said the appointment was made in accordance with Section 8(1)(2) of the CBN (Establishment) Act. Adesina also said Buhari, who had sent the nominee’s name to the Senate President, Dr. Bukola Saraki, for the Senate’s confirmation,

urged the parliament to expeditiously confirm Ahmad’s appointment to enable her resume work immediately. Adesina said the president equally sought the Senate’s confirmation of newly appointed members of the Monetary Policy Committee (MPC) of the CBN. According to him, the new appointees will replace four members of MPC whose tenure will expire at the end of the year. The nominees are Professor Adeola Festus Adenikinju, Dr. Aliyu Rafindadi Sanusi, Dr. Robert Chikwendu Asogwa and Dr. Asheikh A. Maidugu. He added that the new MPC nominees, if confirmed by the Senate, would resume duty next January. Ahmad, the deputy governor nominee, boasts an impressive resume, spanning 20 years in banking and finance in Nigeria and the United Kingdom.

Forex Proceeds Repatriation

In line with its drive to ramp up the country’s foreign exchange (forex) earnings, the Central Bank of Nigeria (CBN) disclosed that henceforth, exporters that fail to repatriate their forex earnings within the stipulated time would be blacklisted from the banking system. The acting Director, Corporate Communications, CBN, Mr. Isaac Okorafor, who said this while briefing journalists at the end of a Bankers’ Committee meeting in Lagos, stressed that any exporter that fails to abide by the rules would be sanctioned and would not have the opportunity to transact business with any bank. Earlier, the Chief Executive Officer of Unity Bank Plc, Mrs. Oluwatomi Somefu, revealed that disbursement for the N26 billion special fund that was set up by the Bankers’ Committee to provide equity contribution to SMEs particularly in the agric sector, would commence this quarter. She said the framework for the fund would soon be developed before the end of the year. “The Bankers committee can confirmed that this is being finalised and disbursement will commence by the end of this quarter 2017,” she explained. According to Somefu, to further support growth of the non-oil sector, the CBN has created a special export intervention scheme, which is expected to generate additional foreign exchange to the country. “This will be closely monitored and we expect a lot of our SMEs to benefit from this scheme. The issue we have in the past is the failure of some exporters to repatriate the foreign exchange generated, and the CBN has agreed with the Bankers Committee to sanction defaulting exporters,” she added.

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

BUSINESSWORLD

APPOINTMENT / AWARDS

FBN Holdings Appoints Kosoko Company Secretary as Borodo Retires FBN Holdings Plc has announced the appointment of Oluseye Kosoko as the Company Secretary subject to regulatory approval. The holding company explained that its outgoing Company Secretary, Tijjani Borodo, would still be around for the next few months to ensure a seamless transition for the substantive Company Secretary. Tijjani will be retiring after three decades of combined services to both FirstBank of Nigeria Limited and subsequently FBN Holdings Plc, “providing exceptional company secre-

tariat and legal support to the Group.” Prior to Kosoko’s appointment, he had served as Head of Legal and the Company Secretary, Standard Chartered Bank Nigeria Limited; Managing Solicitor, Henley, Crankshaw Solicitors; Chief Legal Officer/Company Secretary, Econet Wireless Nigeria Limited (Now Airtel Networks); Citibank Nigeria, where he rose to the position of General Counsel/ Company Secretary/ and pioneer Country Compliance Head, with oversight for Corporate Affairs.

He also worked as Tax Consultant at Price Waterhouse and was also one of the pioneer lecturers at the Faculty of Law, Lagos State University. He is a graduate of the University of Ife in 1984 and was called to the Nigerian Bar in 1985. He obtained his LL.M in 1987, from the University of Lagos..According to the Group Managing Director of FBN Holdings Plc, UK Eke, Kosoko brings to bear on the Executive Management and Board of FBN Holdings UK over 25 years’ extensive experience in legal framework,

company secretarial duties, and governance advisory. He also stated that Tijjani would be missed, saying “his exemplary dedication to the Group will remain one of the bright spots in the history of FBNHoldings.” “We welcome Seye on board while we wish Tijjani many fruitful years ahead.” “Kosoko’s appointment is consistent with FBN Holdings corporate governance and succession plan that ensures that there is balance of knowledge and experience at the highest decision making levels of the Group,” he added.

DEEPENING FINANCIAL MARKETS

L-R: Acting Executive Secretary, Financial Markets Dealers Association of Nigeria (FMDA), Mrs. Mary Gbegbaje; Chairman, Treasury Support Workgroup, Oluwadare Akinyemi; Vice President, FMDA, Mrs. Adetoun Dosunmu; Associate Vice President, FMDQ Securities Exchange, Ms. Jumoke Olaniyan, and member, FMDA, Mr. Tope Osanyingbemi, during the second annual seminar of the Treasury Support Workgroup of the association in Lagos…recently

Consumers Win Cars, Generators, Others in BIC 1 Promo Leading shaving brand in Nigeria, BIC 1 Shaver, has rewarded its customers with two Mitsubishi Space Star Cars, generators and other consolation prizes in the just concluded ‘BIC 1 Shave & Realise Your Dream Promo’. The grand finale of the three-month promo was held at Ikeja, Lagos where Miss Blessing Ogwuzu and Mr Bassey Effiong emerged as the grand prize winners of the two Mitsubishi Space Star Cars; while television sets, refridgerators, mobile phones were among other consolation prizes won. The promo, which started in July, was aimed at rewarding BIC’s numerous customers across Nigeria for their loyalty and patronage over the years. The pan Nigeria consumer promo saw winners emerged after each coupon based draw in various parts of the country with the grand finale which was held in Lagos. While presenting the car

keys to Effiong, Country Business Development Manager, BIC World, Mr. Adeyemi Ojo, said the brand was delivering on the promises made to its customers. According to him, “We are delivering on our promises on this occasion. This is the proof of our integrity and commitment to whatever we are doing; we say hearty congratulations to all our winners.” Ojo added that “the essence of this promo is to give back to the society that has been supporting our business in the past 40 years and in the process, we want to bring excitement, we want to make our consumers to realize their dreams and that is the essence of the promo which is centered on our consumers. “We have given out 15,000 airtime; we have given out two cars, we have given several televisions, we have given several generators, we have given several fridges, and a lot of other prizes; and all these

things are household items which will enhance the lifestyle and the standard of living of our consumers”, Ojo further explained. Expressing his appreciation, Effiong said the gesture was a crowning of his loyal patronage of the brand for over 30 years. “I feel very happy and I give glory to God for what has happened. It is a dream come through. I have been using this product for more than 30 years and that perhaps was the reason God has made me to win the grand prize. Other consumers should keep trying because this promo will be coming from time to time,” he stressed. Asked how he won the car, Effiong said: “I asked my daughter to buy the BIC shaver and she realised that there was a promo going on, so she sent a text and after one day they replied her and informed her that she had won a car. That was how it all happened.”

Meanwhile, the company has stated that the product has dominated the shavers’ market with a 70% market share. The Country Business Development Manager, BIC World, Mr. Adeyemi Ojo, said the brand was doing very well in the market because consumers loved the product quality of the brand. Ojo told THISDAY that BIC 1 shavers was far ahead of its competitors in the market place, stressing that the company also dominates other segments of the market with its varieties of products. He said: “In BIC 1 shavers, we are far ahead of competition by over 70% market share and in every other product that we produce; we are ahead of competition as well.” He added that BIC World would continue to produce products with good qualities that would satisfy consumers’ demand and make them patronise the brand as loyal customers.

Digital Encode Wins Cybersecurity Company Award Digital Encode has again been recognised for its quality-driven operations and global best practice standards in Information Security Management and Compliance Advisory ecosystem with the award as the ‘Africa’s Most Innovative Quality CyberSecurity Consulting Company’. This was conferred on the company at the special edition of the African Quality Institute organised African Quality Achievement Awards (AQAA) held in Lagos recently. Digital Encode beat other companies in the country’s Cyber-Security ecosystem’s awards category due to its consistency in placing high premium on quality in all areas of its operations. A statement by African Quality Institute said that the AQAA was initiated at celebrating leadership innovation and creativity in quality management in Africa. “The Award is aimed at identifying, recognising and rewarding companies, personalities and products that apply Quality Culture and Quality Management Best practices to the analysis, planning and implementation and control of policies designed to achieve corporate objectives in both profit and non-profit making organisations in Africa. All these have been demonstrated by Digital Encode in its areas of operation,” the statement added. It explained that it was in recognition of the awardees’ commitment to quality consciousness in all aspects of their operations that they were being recognised with the prestigious awards. Chief Technical Officer, Digital Encode, Oluseyi Akindeinde, said: “It gives us

great joy to be recognised by a global quality measurement organisation. It is perhaps a further reflection of our overall quality of service. Digital Encode assists corporations and businesses achieve compliance to global cyber security standards. “We basically handhold them and give further advisory services in order to mitigate the risks associated with cyber attacks.” The award has shown that Digital Encode translates strategic business objectives into sound, achievable technology solutions. “This award, which is coming after several laurels we have received in the past few years, will further encourage us to do more in promoting quality in our operations. We are committed to provide quality Information Security Management and Compliance Advisory to Nigeria and the world,” Akindeinde said. The Chief Operating Officer, Digital Encode, Wale Obadare, noted that Digital Encode is driven by its service excellence. According to him, “We know that the company of the future is one that can effectively use technology to save costs and solve problems of consumers.” He added that Digital Encode represented what quality brings to mind terms such as inspection, process control, auditing, and standards. “While Quality indeed includes these Principles, it also includes for example, Management Systems and continuous improvement, customer satisfaction and market focus, teamwork and the well-being of employees. These are what Digital Encode stands for,” Obadare said.

Ecobank Nigeria Appoints Two Executive Directors Ecobank Nigeria has announced the appointment of two new Executive Directors - Mr. Akin Dada, who now heads the bank’s Corporate Banking business and Mrs. Carol Oyedeji for Consumer Banking. The bank explained that the new appointments were in line with its “Roadmap to Leadership Transformation,” programme which it initiated in 2016. Dada has over 27 years of banking experience which spans various segments including energy, business development, public sector, infrastructure, telecoms, corporate finance, oil and gas. Before his appointment as an Executive Director in Ecobank, he was Country Officer (Managing Director) at CitiGroup, Cameroun. Prior to that, Dada worked in various capacities in Citibank Nigeria. He was briefly with Access Bank as Group Head, Energy, Oil and Gas. Akin Dada is a graduate of Political Science from University of Ibadan and also holds an MBA from University of Warwick.

On the other hand, Oyedeji has 25 years banking experience with over 18 years in Consumer/Retail Banking. Before joining Ecobank Nigeria she was Regional Head of Acquisition & Client Relationship for Africa & the Middle East at Standard Chartered Bank Group. Mrs Oyedeji also held various positions at Standard Chartered Bank, namely - Head, Business Clients (Africa); Regional Head, Consumer Banking (West Africa); Regional Head, Shared Distribution (West Africa) and General Manager, Wealth Management & Distribution. Oyedeji is a graduate of Chemistry, who also holds an MBA in Banking and finance both from the University of Lagos. She further has an MSc in Financial Management from the University of London. In his comment, Managing Director, Ecobank Nigeria, Charles Kie described the appointments as strategic and in line with Ecobank’s drive to be one of the top three banks in the country by 2020.

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

BUSINESSWORLD

MONDAY INTERVIEW

Gamaniel: How Research Translates to Economic Benefits

Prof. Karniyus Gamaniel is the Director General of the Nigerian Institute of Pharmaceutical Research and Development. In this interview, the DG, who was recently inducted into the Nigeria Academy of Pharmacy, spoke on how research translates to economic benefits for Nigeria, the progress with commercialisation of NIPRISAN, a drug for sickle-cell anaemia, among others. Chika Amanze-Nwachuku presents the excerpts: Many years ago, the news was all over the media that NIPRD had developed a drug for the control of the outbreak of crisis in people with the sickle cell disorder. What is the update on this drug? It is still not available in pharmacies. Niprisan is a drug extracted from indigenous herbs that has been developed by the Institute for the prophylactic management of patients with sickle cell disease. We currently produce the drug at NIPRD, and it’s being given to patients directly meaning that they can’t be bought in the shops or over the counter. Today, we are at the stage of social production with the drug. Because we’ve had challenges with relicensing, as you know, NIPRD withdrew its license from the original licensee because of breaches which was challenged for a long time. And so, government issued a directive that we should produce and give to people who were already on the drug until we are able to sort out the license issue and then commercialise. We have sorted out the license issue and are at the point of commercialisation so that it can go back to the public very soon. It’s important to state that the feedback which we have received on the drug so far has been very positive even before we went commercial. We have seen an uptake in the number of people who want to get on the medication because the word-of-mouth has been fantastic and people have helped us to spread the good news. In fact, the drug has been a so much of a success that even before the withdrawal of the license, some unscrupulous elements had begun to fake Niprisan which is why government directed that we produce at the Institute and give directly to patients. Do you think Nigerian pharmacists and scientists in general are conducting enough research using local herbs for solutions to diseases, especially those that are prevalent in this part of the world? Quantitatively, I’d say that we are doing a lot but qualitatively, it is not significant. In terms of research, there is a lot of information on the shelves in many universities and research institutes including ours. However, the orientation of the average researcher today regarding products development and research needs to be re-examined. What drives interest in research is academic interest - getting a degree, publishing in journals and so on. We have neglected the industrial application of our knowledge in drug products R&D. And this is the real problem that we face. I think that we need to change our orientation and we’ve got to be engaged in translational research and products development. Research should be need-driven and not for academic purposes solely. It is obvious that funding of research is a problem in Nigeria. Why do you think this is so? To my mind, it’s a vicious cycle. For research, to be appreciated it has to make its impact on the society because research essentially feeds from what’s happening in the society and the usefulness of knowledge is in not keeping them on the shelf but solving immediate community problems. On one hand, government is not encouraged to see the impact which brings low funding. On the other hand, the researchers would have to justify the funds that are being used annually. Niprisan provides us a case in point. When the drug was produced and commercialised, government was very appreciative and they were ready to fund the infrastructure so that we could do more. Government has got to be convinced. No one will bring money from

Our biggest achievement till date is the fact that the Institute started from a store and has grown to become an institution that houses about fifteen specialised laboratories, which are all very functional. In terms of its mandate, I have to refer to the drug, Niprisan which we developed locally to licensing, commercialisation and it has been in production for about four years now. It has experienced some challenges but we are Gamaniel abroad to solve the research problems of our country. And so, the government has got to lead by example. Donors are also in the same category. Our research has got to change their orientation. How can institutions like yours help to whip up more public interest in research and development? We should be doing a lot of things but I think that the core of what needs to happen is advocacy, doing translational research and solving immediate problems that the community can see and be convinced. Even philanthropists can come in, when they see how research is positively impacting lives in various communities. But very importantly, partnerships and advocacy are critical to this cause. Research is not perceived as what it should be. In more advanced climes, research is what drives economy and answers questions that help us to fast track our development, allows us to see what we are doing wrong and re-strategise for greater successes. In developed countries, philanthropists and wealthy citizens regularly endow or sponsor research projects. But this does not appear to be happening to any reasonable degree in Nigeria. Do you think that research institutes in Nigeria are doing

Research is not perceived as what it should be. In more advanced climes, research is what drives economy and answers questions that help us to fast track our development, allows us to see what we are doing wrong and re-strategise for greater successes

enough to draw quality attention to the importance of research? Well getting results is not a function of preaching, it is by doing. Once we are able to demonstrate our capacity to do research that is needs based, I believed philanthropists as well as friends of the communities would participate in sponsoring research. I’d like to sound a note of caution though; do we really have so many philanthropists in Nigeria? Do we have an entrenched culture among the rich of giving back to the community? Some of the very wealthy members of our society don’t know how to use their wealth. I must be bold to tell you that they’d rather build houses in their villages and buy what have you – but the point is that when people are touched as a result of the work done by researchers, when there’s impact in our communities, one or two people would come out and show support. Some people complain that teaching methods in Nigeria also contribute to lack of interest in science and scientific research in general by many Nigerians. The opinion is that teaching methods, unlike in say the US for instance, are archaic and the teachers are often unable to encourage students to appreciate the essence of research. What is your view of this? I don’t think that our teaching methods are to blame for the lack of interest in science and scientific research in general. The teaching methods and our curricula are very solid and can stand up to scrutiny anywhere in the world. It has served as an instrument to promote excellence, learning and knowledge. What the problem has been is the appropriateness and the availability or adequacy of facilities. When we studied, we had one machine to ourselves. Today, you only have classes where demonstrations have replaced the actual application because the facilities are not there. I also think that the carrying capacities of our universities have become a big challenge in that there are so many students and facilities available for real good contact is very low

because contact is very important in teaching. And so, it’s not the methodology, it is the availability of adequate infrastructure especially in the sciences. How can students practicalise their work or even appreciate research when there are little or no tools to work with? How do you think Nigeria can help rev up interest in scientific research? Because of its strategic importance, we must devote a lot of our resources to ensuring that research thrives and grows. I imagine that we can set a commission, something similar to the Universities Commission dedicated to only research – for rating, accreditation, for standards, monitoring and evaluation and funding. As it is today, the funding system is poor. However, if we can warehouse all the research institutes in one place as opposed to the current system where they are scattered across ministries, it would change things dramatically. What does your induction as a Fellow of the Nigeria Academy of Pharmacy mean to you? First of all, I consider it an honour to be inducted as a Fellow of the Nigeria Academy of Pharmacy and I really appreciate the gesture. This has a lot of meaning and signification to me because it touches directly on my profession. And so, being able to join this elite club is a great honour that I do take seriously. But I think also that it’s a great challenge. Before now, if I could sit and lament that fake drugs are ravaging our communities or that the whole situation in our sector isn’t good, as a member of this club, I can’t join that chorus again because I have a mandate and a responsibility to make sure that things work. And when they are not working, it would pain me personally and deeply. Hopefully, in concert with other Fellows, we’d be able to advice the government, industry regulators, researchers appropriately and also champion Continued on page 29

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

BUSINESSWORLD

MONDAY INTERVIEW

GAMANIEL: HOW RESEARCH TRANSLATES TO ECONOMIC BENEFITS

In fact, during my interview for the position, I made a strong promise to the panel to deliver on quality management systems for NIPRD. So that when results come from the Institute, such results would be respected globally and I am glad to note that I have seen that manifest already. It would interest you to know that we also developed about four patents of products during my tenure. I’d love to be remembered for these things

I am interested in behavioural research as a neuro-pharmacologist. My study of product development has been with a view to seeing how we can harness our indigenous and natural products for the good of humanity via drugs discovery. But most importantly, I also want to see that the administration of research has improved. The pharmaceutical industry is a huge sector that can dramatically change the fortunes of this country besides providing healthcare and wellness for the citizens and improving their economic status via increased productivity and overall national development

new frontiers for the growth and development of the practice of pharmacy in Nigeria. How do you see your induction as a Fellow of the Academy impacting your work as DG of the NIPRD? What comes to mind first is those coming behind me. It gives them the assurance that they can also progress and reach the peak of their careers. This is one thing important that I have discovered – once researchers or people are able to see their progression through they become more committed than if the future were bleak. I think also that being in this club and with my relationship with the Institute; a very strong bridge has been created. It allows me to leverage my network within and outside of the institute to set the agenda, manage expectations and provide valuable feedback on various areas of interest that can help make the institute stronger and better. Do you have personal research interests? My personal research interest is in the area of products development. I have devoted a lot of my time even studying extra to enable me promote product development research in Nigeria. Also I am interested in behavioural research as a neuro-pharmacologist. My study of product development has been with a view to seeing how we can harness our indigenous and natural products for the good of humanity via drugs discovery. But most importantly, I also want to see that the administration of research has improved. The pharmaceutical industry is a huge sector that can dramatically change the fortunes of this country besides

Gamaniel providing healthcare and wellness for the citizens and improving their economic status via increased productivity and overall national development. Do you plan to return to the classroom after your sojourn in the NIPRD? Yes I would love to go back to the classroom but honestly I’d rather go to an institution that is dedicated to promoting research, in terms of research administration. I’ll love it there. This is because I see the pains and frustrations of many researchers, what’s missing, what’s broken, what needs to be fixed, setting up research plans and policies. Apart from the bench work, the immense impact that can happen if we get research administration right is huge. We should be able to go into the industry and support them with research. We should be able to support regulators – compliance, standards and so on – with empirical data. These are all evidence based strategies and if you need evidence you go to the bench where you’ll deploy scientific tools that provide direction. We need to get research administration right in the country.

AMCON’s Executive Director Harps on Nigeria’s Unity A top official of Asset Management Corporation of Nigeria (AMCON) has called on all Nigerians to eschew all forms of bitterness, embrace one another and join hands to build the Nigeria of our dream. The Executive Director, Operations, AMCON, Mr. Aminu Ismail, who stood in for Mr. Ahmed Kuru, Managing Director/ CEO made the call at a yearly event organised by AMCON to mark Nigeria’s independence anniversary recently, where he also joined thousands of wellmeaning Nigerians to reiterate the fact that Nigeria would be better and more prosperous as a country, if the rich potential of her diverse cultural heritage were harnessed. To achieve that, he said this was not the time to sound the drumbeat of agitations or disunity, but a time to pull

everyone together in unity to rebuild Nigeria to reclaim its pride of place among the comity of nations. Since charity, as they said begins at home, Ismail called on staff of the corporation and indeed all Nigerians to be good ambassadors and preachers of peace across Nigeria by acting and behaving in manners that promote peaceful coexistence in the country. Ismail also noted that Nigerians must not lose hope since the current wave of agitations in the country was not peculiar to Nigeria alone going by what is happening elsewhere with Brexit, Spain and Catalonia referendum, Scottish quest for liberation down to America and the many issues of race they currently face. According to him, it was important that Nigeria and Nigerians avoid the mistake of allowing a few individuals to drag us to the extreme of

violent clashes, which does no good to any nation. Expressing optimism that the current wave in the country would make us stronger at the end of the day, he said Nigeria remained one big family irrespective of culture; tribe, religion or political divides that are fueling the current trends. Going down memory lane, Ismail recalled: “Even before the current agitations, from across the country, we have had in years past the Ife/Modakeke, Umuleri/Aguleri, Hausa/Fulani, Ijaw/Itshekiri, Ezza/Ezilo and Tiv/ Tarok clashes, just to mention a few, which we have settled and bonded better as one people. “Believe me, we are evolving as a nation and our strength remains in the unity of Nigeria because we have a lot to leverage and develop into a world power when we harness the rich human and natural resources God has blessed us with.

The NIPRD has been in existence since 1988. What would you consider to be the biggest achievements of the institute so far? Our biggest achievement till date is the fact that the Institute started from a store and has grown to become an institution that houses about fifteen specialised laboratories, which are all very functional. In terms of its mandate, I have to refer to the drug, Niprisan which we developed locally to licensing, commercialisation and it has been in production for about four years now. It has experienced some challenges but we are optimistic that in a couple of months from now, it would come back on stream fully and we’d re-license it to go out. So these are the two major feats that we’ve been able to accomplish as an Institute. What would you like to be remembered for after your tenure in the NIPRD? I’d like to be remembered after NIPRD, which is pretty soon, as the man who brought in quality management systems and good laboratory practices. You see, irrespective of the quality of your research work, if it isn’t based on quality systems, its integrity would be queried and the results would be questioned. From my

first day at the Institute, this has been my rallying cry. In fact, during my interview for the position, I made a strong promise to the panel to deliver on quality management systems for NIPRD. So that when results come from the Institute, such results would be respected globally and I am glad to note that I have seen that manifest already. It would interest you to know that we also developed about four patents of products during my tenure. I’d love to be remembered for these things. Tell us a little about yourself. What are your interests outside of work? How do you relax? I come from a very poor background but God in his mercy has enabled me to be able to contribute my quota to the development of our county. I am a Christian and married to one wife and have four children – two boys and two girls. My academic life is pretty straight forward, studied in the country and had stints in other countries. I see myself as an easy come, easy go person who enjoys socialising and making friends. I also play tennis.

Interswitch Partners Banks on New Lending Platform Raheem Akingbolu Interswitch has intensified plans to boost financial inclusion drive through provision of non-collaterised micro and nano-loans to individuals and SMEs across various channels. The new innovation is design to accommodate multi-channel low-level retail lending without collateral. Historically in Nigeria, there have been long-standing gaps in availability of credit or loans to individuals and businesses within underserved demographics of the Nigerian population. It is believed that these people have experienced difficulties in accessing unsecured, short-term micro-loans from financial instructions for several reasons. As a result of this, the payment company has partnered six leading banks and three innovative credit providers to

address this challenge with the introduction of the Interswitch Lending Services Platform. According to the management of the company, this service essentially resolves the ‘missing middle’ challenge by providing a holistic proprietary credit analysis, scoring & management technology which bank and non-bank credit providers can leverage to provide non-collaterised micro and nano-loans to individuals and SMEs across various channels. It was also said that it would bridge the gaps currently existing in Nigeria as far as access to credit between deserving but underserved individuals and SMEs on one hand, and credit providers on the other, by means of reliable lending and de-risking engines based on customers’ transaction history and digital footprints. According to the Divisional CEO for

Switching and Processing at Interswitch Group, Akeem Lawal, customers can use any of the ATM, mobile banking apps or USSD channels to access loans, essentially achieving the goal of allowing different customer segments to meet personal and small business needs, thereby accelerating growth in business activities within Nigeria’s resurgent economy. ‘’The solution focuses on enhancing financial inclusion by providing a tested and reliable end-to-end credit administration infrastructure, which is open and flexible enough to accommodate both bank and non-bank lenders. The Platform has been integrated by Interswitch to what is perhaps the largest customer database, allowing almost 16million Nigerians (which includes active customers on Quickteller) to be assessed for possible qualification for a loan.

T H I S D AY MONDAY OCTOBER 9, 2017

T H I S D AY MONDAY OCTOBER 9 2017

T H I S D AY MONDAY OCTOBER 9, 2017

T H I S D AY MONDAY OCTOBER 9 2017

T H I S D AY MONDAY OCTOBER 9, 2017

MONDAY, OCTOBER 9, 2017 Ëž T H I S D AY

BUSINESS/MONEYGUIDE

Nigeriaâ€™s Economy Requires Transformation, Says Fidelity Bank Chairman The Chairman of Fidelity Bank Plc, Mr. Ernest Ebi has advocated a fundamental transformation of Nigeriaâ€™s economy via a broad range of policy measures that can put the economy on strong foundation for sustainable growth and development. Ebi stated this recently at Ede, Osun State, while delivering the 9th Convocation Lecture of Redeemerâ€™s University entitled: â€œNegotiating the Recession Challenges: Options for the Structurally Unbalanced Nigerian Economyâ€? â€œWhat the country needs at this time to sustain the exit from economic recession is a

fundamental transformation of the economy that will address the structural economic imbalance, improve on institutional framework, ease of doing business, infrastructure, and strong private sector participation,â€? Ebi stated. He added that: â€œsuch a transformation should be focused on creating jobs on a massive scale and growing the economy from the bottom of the pyramid to avert the ticking time bomb of youth restiveness and unemployment. This will ensure inclusive economic growth that works for everybody, bridge the inequality gap, provide the enabling regulatory environment for the private sector to thrive

and help prioritise the main drivers of the economy.â€? Ebi who is also the Chairman of Centre for Financial Journalism said there must be a renewed focus on production. He stated that: â€œThere is no doubt that a key component of economic development and growth process of a nation is an increase in the countryâ€™s production, especially of its exportable goods and services. â€œAccordingly, the pursuit of diversification of Nigeriaâ€™s monolithic economy should be with a bias to production (out right manufacture of new items or value addition to primary products) for local consumption and export..

EU Restates Commitment to Improving Trade with Nigeria Peter Uzoho The new European Union Ambassador to Nigeria and ECOWAS, Mr. Ketil Karlsen, has stated that the mutual trade partnership between Nigeria and the EU would be sustained for the benefit of both countries. Karlsen said this in Lagos at the launch of the 6th and 2017 edition of the EU-Nigeria Business Forum, with the theme: â€˜Youth as Engine of Broad-Based Economic

Transformationâ€™. He disclosed that the export trade volume from Nigeria to Europe in 2016 amounted to 20 billion euros. This, he said represented 39% of Nigeriaâ€™s export for that year. â€œThe trade partnership between the European Union and Nigeria is already very significant. We are each otherâ€™s biggest trade partner in this part of the world,â€? Karlsen said. He said this yearâ€™s forum was focussed on youths and women and how the ICT industry and agriculture can

provide jobs to many Nigerians with the support of European investors, stressing which he said was one of the main priorities in the country. Furthermore, he stated that in the coming years, EU and Nigeria would have many issues to discuss to consolidate their mutual relation. â€œHow good to have a conducive environment for European investment such as through economic partnership agreement (EPA), which is one of the key priorities.

FCMB Empowers SMEs First City Monument Bank (FCMB) said it recently organised the first in a series of free training programmes for small and medium business owners. The initiative, led by FCMBs Training Academy and the bankâ€™s SME Segment Managers, was attended by SME operators. The training, which focused on business finance optimisation for SMEs, covered various areas such as budgeting, cost management in challenging times, raising capital for businesses, getting businesses ready for loans or investments, as well as managing credit sales. Speaking at the opening of

the programme, the Divisional Head, Corporate Services of FCMB, Felicia Obozuwa, was quoted in a statement, to have said the bank recognises the role of entrepreneurs in the society and their capacity in driving economic growth. According to her, â€˜â€™it is just one of the ways we support the growth of our SME customers. We realise that many small businesses can have the dedication to succeed, but without training and business experience, it can be a challenge to achieve results. â€œBusiness acumen and day to day operational skills are essential for any small business

owner to have when seeking out their next venture or sustaining their current business. â€œAt FCMB, we are passionate about helping our customers to be as educated as possible. Our comprehensive training programme for SMEs will establish a foundation for small business owners to develop themselves, learn new skills, better serve their customers, and stay relevant to their nicheâ€?, she stressed. In addition, the Executive Director, Business Development of FCMB, Mrs. Bukola Smith, explained that the bank realises that SMEs play critical roles in the growth of the nationâ€™s economy.

Ebi

MARKET INDICATORS MONEY AND CREDIT STATISTICS 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)

Nume Ekeghe As part of efforts to enhance skills among human resources managers, Stanbic IBTC recently organised a breakfast session on knowledge sharing with the professionals. The bank also at the event with the HR professionals launched a new banking product targeted at staff of corporate organisations. In his opening remarks at the event, which took place in Lagos, the Managing Director, Stanbic IBTC, Dr. Demola Sogunle, described human capital as an important asset for any organisation, especially for Stanbic IBTC. He added: â€œThat is why we are looking at that aspect and its performance because at the end of the day if you able to

encourage and motivate key talents in an organisation, they would deliver to all the stakeholders of their organisation.â€? Speaking on the new product, the Head Personal Banking Stanbic IBTC, Ms. Nkolika Okoli said: â€œWe just unveiled our Achievers banking proposition. The achiever banking proposition is mostly for the middle class and a lot of these people are employees of organisations. â€œAs our business proposition is built around our eco system we are a bank that is very strong in corporate banking so we bank these bank multinationals and corporates at the corporate banking level and then we reach out to the staffs through this. â€œWe ensure that they have

easy access to loans, simple transactional accounts they can operate from the comfort of their offices using our digital banking channels and then we also now take i further by adding value to head of HR of corporates.â€? On her part, the Head, Workplace Banking, Stanbic IBTC, Mrs. Jumoke Bello commented: â€œWe are leaning end to end financial solutions provider and we leverage on all our business entities to ensure we give that to you. â€œOur achiever banking proposition account allows you to transact, save and borrow. â€œThe product offers access to our high yield savings account which gives you higher interest on your savings and you can actually run as though it is a current account.â€?

-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

Stanbic IBTC Engages HR Heads, Launches Banking Proposition

(MILLION NAIRA)

DECEMBER 2016

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 Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT THURSDAY OCTOBER 5, 2017 The price of OPEC basket of fourteen crudes stood at $54.63 a barrel on Thursday , compared with $53.93 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela). SOURCE: OPEC headquarters, Vienna

MONDAY, OCTOBER 9, 2017 ˾ T H I S D AY

MARKET NEWS

Q3:United Capital Posts N6.2bn Earnings, N3.3bn Profit Goddy Egene United Capital Plc, a leading Pan-African investment banking group on Friday unveiled its results for the nine months ended September 30, 2017. Details of the results show gross earnings of N6.2 billion, up 10 per cent, from N5.689 billion in the corresponding period of 2016. Investment income

improved by 59 per cent from N688 million to N1.099 billion, while profit after tax (PAT) increased to N3.274 billion, as against N3.170 billion in 2016. United Capital’s shareholders’ fund grew by seven year-todate to N15.2 billion, a reflection of the group’s resilience and capacity to create value for its investors irrespective of the cycle over the long term, while total

T H E MAIN BOARD Activity Summary on Board DEBT Federal Bond Name 15.54% FGN FEB 2020 16.00% FGN JUN 2019 Federal Totals DEBT Board Totals Bond Activity Totals 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 Diversified Industries A.G. LEVENTIS NIGERIA PLC. JOHN HOLT PLC. S C O A NIG. PLC. TRANSNATIONAL CORPORATION OF NIGERIA PLC U A C N PLC. Diversified Industries Totals CONGLOMERATES Totals CONSTRUCTION/REAL ESTATE Building Construction ARBICO PLC. Building Construction Totals 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 Automobiles/Auto Parts DN TYRE & RUBBER PLC Automobiles/Auto Parts Totals 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 FLOUR MILLS PLC DANGOTE SUGAR REFINERY PLC FLOUR MILLS NIG. PLC. HONEYWELL FLOUR MILL PLC NASCON ALLIED INDUSTRIES PLC Food Products Totals Food Products--Diversified CADBURY NIGERIA PLC. NESTLE NIGERIA PLC. Food Products--Diversified 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. JAIZ 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 CORNERSTONE INSURANCE COMPANY PLC. AXAMANSARD INSURANCE PLC N.E.M INSURANCE CO (NIG) PLC. NIGER INSURANCE CO. PLC. STANDARD TRUST ASSURANCE PLC STANDARD ALLIANCE INSURANCE PLC. UNITY KAPITAL ASSURANCE PLC UNIVERSAL INSURANCE COMPANY PLC WAPIC INSURANCE PLC Insurance Carriers, Brokers and Services Totals Micro-Finance Banks FORTIS MICROFINANCE BANK PLC NPF MICROFINANCE BANK PLC Micro-Finance Banks Totals Mortgage Carriers, Brokers and Services INFINITY TRUST MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals Other Financial Institutions AFRICA PRUDENTIAL REGISTRARS PLC CUSTODIAN AND ALLIED PLC DEAP CAPITAL MANAGEMENT & TRUST PLC FCMB GROUP PLC. STANBIC IBTC HOLDINGS PLC UNITED CAPITAL PLC Other Financial Institutions Totals

DEALS

MARKET PRICE

assets stood at N160 billion. Additionally, United Capital’s strong balance sheet capacity reflects a strong franchise and ability to remain a trusted partner to clients in pursuit of their financial goals. Commenting on the results, the Group Chief Executive Officer, Oluwatoyin Sanni said: “The 10 per cent growth in gross earnings reflects the

N I G E R I A N QUANTITY TRADED

VALUE TRADED ( N )

No. of Deals 1 1 2 2 2

Current Price 98.7 135

Quantity Traded 105 100 205 205 205

Value Traded 103,815.41 137,197.80 241,013.21 241,013.21 241,013.21

No. of Deals 11 4 15 No. of Deals 5 5 20

Current Price 44.18 46

Quantity Traded 41,208 5,201 46,409 Quantity Traded 153,470 153,470 199,879

Value Traded 1,887,024.20 240,161.40 2,127,185.60 Value Traded 119,266.60 119,266.60 2,246,452.20

Current Price 0.78

No. of Deals 1 1 4 56 48 110 110

Current Price 0.78 0.66 3.77 0.78 15.1

Quantity Traded 100 500 10,000 4,840,952 350,363 5,201,915 5,201,915

Value Traded 78 315 35,900.00 3,807,735.66 5,054,510.34 8,898,539.00 8,898,539.00

No. of Deals 1 1 No. of Deals 5 5 No. of Deals 65 65 71

Current Price 4.79

Quantity Traded 200 200 Quantity Traded 10,272 10,272 Quantity Traded 1,656,711 1,656,711 1,667,183

Value Traded 958 958 Value Traded 375,647.04 375,647.04 Value Traded 3,493,667.49 3,493,667.49 3,870,272.53

No. of Deals 1 1 No. of Deals 3 64 7 208 282 No. of Deals 18 18 No. of Deals 33 22 32 15 11 113 No. of Deals 25 98 123 No. of Deals 14 14 No. of Deals 26 17 43 594

Current Price 0.5

Quantity Traded 100,000 100,000 Quantity Traded 5,160 288,915 51,123 1,386,914 1,732,112 Quantity Traded 6,947 6,947 Quantity Traded 616,050 345,909 84,482 1,028,600 117,500 2,192,541 Quantity Traded 136,880 133,592 270,472 Quantity Traded 140,811 140,811 Quantity Traded 203,505 43,451 246,956 4,689,839

Value Traded 50,000.00 50,000.00 Value Traded 11,558.40 17,613,098.61 801,955.76 156,078,414.27 174,505,027.04 Value Traded 675,390.11 675,390.11 Value Traded 2,410,595.00 2,125,832.90 1,491,827.07 1,128,310.00 833,010.00 7,989,574.97 Value Traded 1,172,206.13 79,110,103.35 80,282,309.48 Value Traded 289,850.97 289,850.97 Value Traded 2,596,373.80 1,424,799.57 4,021,173.37 267,813,325.94

No. of Deals 167 26 27 69 219 24 1,530 73 33 1 1 2,170 No. of Deals 9 6 2 2 5 1 2 1 2 1 2 33 No. of Deals 1 2 3 No. of Deals 1 1 No. of Deals 31 16 1 68 6 132 254

Current Price 6.6 0.86 9.8 0.84 23.8 1.31 0.7 4.8 4.9 0.83 0.5

Quantity Traded 11,476,994 1,149,393 58,189 8,142,068 20,039,315 1,081,695 25,994,229 5,772,233 251,225 350 800 73,966,491 Quantity Traded 214,682 503,100 200 3,000 44,144 900 5,100 1,000 401,000 1,000 384 1,174,510 Quantity Traded 1,000 25,100 26,100 Quantity Traded 1,000 1,000 Quantity Traded 450,576 325,400 1,000 3,530,043 12,830 8,474,959 12,794,808

Value Traded 76,018,367.81 990,711.98 560,377.50 6,806,919.19 477,105,071.95 1,417,729.20 18,222,090.30 27,705,413.04 1,185,050.41 276.5 408 610,012,415.88 Value Traded 126,611.20 530,295.00 100 4,770.00 36,196.64 450 2,550.00 500 200,500.00 500 192 902,664.84 Value Traded 2,700.00 27,111.00 29,811.00 Value Traded 1,440.00 1,440.00 Value Traded 1,399,304.19 1,084,759.00 500 4,689,332.14 211,696.60 31,174,405.94 38,559,997.87

Current Price 34.83 Current Price 2.12

Current Price 2.35 60.92 16.15 117.5 Current Price 106.5 Current Price 4.1 6.1 18 1.1 7.03 Current Price 9 600 Current Price 2.08 Current Price 12.16 34

Current Price 0.59 1.05 0.5 1.59 0.79 0.5 0.5 0.5 0.5 0.5 0.5 Current Price 2.58 1.08 Current Price 1.47 Current Price 3.05 3.32 0.5 1.31 17 3.7

positive trajectory of the group, driven by the loyal support of our esteemed customers and our results-oriented workforce. In spite of the challenging macroeconomic and business environment, we leverage innovation and tenacity to gain market share across our diversified business lines.” She added that the company

STO C K

broadened its African footprint, launched new offerings to meet the evolving needs of its clientele, and enhanced its online trading platform (InvestNow 2.0), which is built on new technologies. “As a recognition of our strong balance sheet, business capacity and sound governance, Agusto & Co, the foremost rating agency in Nigeria assigned

United Capital an ‘A-’ rating with a stable outlook on our Group - a top notch upgrade from ‘BBB+’ and the highest rating of an investment bank in Nigeria. As we close out the year, our team is dedicated to sustaining this strong performance, as we remain resolute in delivering superior returns to our shareholders over the long term.

E XC H A N G E

MAIN BOARD FINANCIAL SERVICES Totals HEALTHCARE Healthcare Providers UNION DIAGNOSTIC & CLINICAL SERVICES PLC Healthcare Providers Totals Pharmaceuticals FIDSON HEALTHCARE PLC GLAXO SMITHKLINE CONSUMER NIG. PLC. MAY & BAKER NIGERIA PLC. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC PHARMA-DEKO PLC. Pharmaceuticals Totals HEALTHCARE Totals ICT IT Services TRIPPLE GEE AND COMPANY PLC. IT Services Totals Processing Systems CHAMS PLC Processing Systems Totals ICT Totals INDUSTRIAL GOODS Building Materials ASHAKA CEM PLC BERGER PAINTS PLC CAP PLC CEMENT CO. OF NORTH.NIG. PLC MEYER PLC. LAFARGE AFRICA PLC. Building Materials Totals Electronic and Electrical Products CUTIX PLC. Electronic and Electrical Products Totals Packaging/Containers BETA GLASS PLC. GREIF NIGERIA PLC Packaging/Containers Totals INDUSTRIAL GOODS Totals NATURAL RESOURCES Metals ALUMINIUM EXTRUSION IND. PLC. Metals Totals NATURAL RESOURCES 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. MRS OIL NIGERIA 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 Advertising AFROMEDIA PLC Advertising Totals Courier/Freight/Delivery RED STAR EXPRESS PLC TRANS-NATIONWIDE EXPRESS PLC. Courier/Freight/Delivery Totals Hotels/Lodging TOURIST COMPANY OF NIGERIA PLC. TRANSCORP HOTELS PLC Hotels/Lodging Totals Printing/Publishing LEARN AFRICA PLC STUDIO PRESS (NIG) PLC. Printing/Publishing Totals Transport-Related Services NEWREST ASL NIGERIA PLC NIGERIAN AVIATION HANDLING COMPANY PLC Transport-Related Services Totals Support and Logistics CAVERTON OFFSHORE SUPPORT GRP PLC C & I LEASING PLC. Support and Logistics Totals SERVICES Totals EQTY Board Totals Daily Summary (Equities) Activity Summary on Board ASeM FINANCIAL SERVICES Mortgage Carriers, Brokers and Services OMOLUABI MORTGAGE BANK PLC Mortgage Carriers, Brokers and Services Totals FINANCIAL SERVICES 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

2,461 No. of Deals 1 1 No. of Deals 13 12 4 6 2 37 38

Current Price 0.5

No. of Deals 1 1 No. of Deals 1 1 2

Current Price 1.3

No. of Deals 7 2 7 11 1 20 48 No. of Deals 15 15 No. of Deals 3 1 4 67

Current Price 11.25 6.08 29.6 4.28 0.87 42

Current Price 1.01 14.75 1 0.66 1.95

Current Price 0.5

Current Price 1.45 Current Price 36.45 9.69

QUANTITY TRADED

VALUE TRADED ( N)

87,962,909

649,506,329.59

Quantity Traded 738,000 738,000 Quantity Traded 5,177,490 110,135 5,015 11,000 900 5,304,540 6,042,540

Value Traded 369,000.00 369,000.00 Value Traded 5,178,570.00 1,551,318.88 4,770.10 7,063.20 1,836.00 6,743,558.18 7,112,558.18

Quantity Traded 2,438 2,438 Quantity Traded 100,000 100,000 102,438

Value Traded 3,023.12 3,023.12 Value Traded 50,000.00 50,000.00 53,023.12

Quantity Traded 11,405 2,997 1,215,127 141,429 300 23,390 1,394,648 Quantity Traded 792,168 792,168 Quantity Traded 70,030 100 70,130 2,256,946

Value Traded 130,100.00 17,322.66 35,970,022.30 604,431.24 249 987,177.40 37,709,302.60 Value Traded 1,142,840.30 1,142,840.30 Value Traded 2,552,593.50 1,016.00 2,553,609.50 41,405,752.40

No. of Deals 1 1 1

Current Price 9.75

Quantity Traded 2,000 2,000 2,000

Value Traded 18,540.00 18,540.00 18,540.00

No. of Deals 2 2 No. of Deals 76 76 No. of Deals 16 20 229 20 1 16 302 No. of Deals 2 2 382

Current Price 0.5

Quantity Traded 18,000 18,000 Quantity Traded 1,722,434 1,722,434 Quantity Traded 35,100 284,436 905,220 12,017 100 8,826 1,245,699 Quantity Traded 5,150 5,150 2,991,283

Value Traded 9,000.00 9,000.00 Value Traded 8,234,046.51 8,234,046.51 Value Traded 1,190,988.64 886,497.72 56,399,639.77 3,215,511.70 3,708.00 2,400,901.12 64,097,246.95 Value Traded 2,045,501.50 2,045,501.50 74,385,794.96

Quantity Traded 55,000 55,000 Quantity Traded 575 29,090 29,665 Quantity Traded 1,000 13,000 14,000 Quantity Traded 500 1,000 1,500 Quantity Traded 101,050 46,801 147,851 Quantity Traded 274,973 1,000 275,973 523,989 111,640,921

Value Traded 27,500.00 27,500.00 Value Traded 2,645.75 26,607.80 29,253.55 Value Traded 3,550.00 61,623.60 65,173.60 Value Traded 355 2,190.00 2,545.00 Value Traded 275,866.50 114,662.45 390,528.95 Value Traded 242,233.86 500 242,733.86 757,734.96 1,056,068,322.88

No. of Deals 1 1 No. of Deals 2 3 5 No. of Deals 1 3 4 No. of Deals 1 1 2 No. of Deals 7 6 13 No. of Deals 14 1 15 40 3,786

Current Price 4.71 Current Price 35.49 3.24 62.5 275.99 39.03 270 Current Price 380

Current Price 0.5 Current Price 4.4 0.91 Current Price 3.65 4.98 Current Price 0.68 2.19 Current Price 2.73 2.57 Current Price 0.9 0.5

No. of Deals 1 1 1 1

Current Price 0.9

Quantity Traded 100,000 100,000 100,000 100,000

Value Traded 90,000.00 90,000.00 90,000.00 90,000.00

No. of Deals 279 279 No. of Deals 140 140 419

Current Price 15.01

Quantity Traded 48,467,690 48,467,690 Quantity Traded 1,684,690 1,684,690 50,152,380

Value Traded 727,624,234.12 727,624,234.12 Value Traded 5,345,599.68 5,345,599.68 732,969,833.80

No. of Deals 10 10 10 429 4,216

Current Price 169

Quantity Traded 45,766 45,766 45,766 50,198,146 161,939,067

Value Traded 7,736,239.30 7,736,239.30 7,736,239.30 740,706,073.10 1,796,864,395.98

Current Price 3.2

˾ MONDAY, OCTOBER 9, 2017

MARKET NEWS

RedStar Express Promises Better Results, Projects N8.1bn Revenue Red Star Express Plc, last

Thursday projected improved performance for 2018 and beyond, indicating that investors will reap higher returns. The logistics solution company had recorded a revenue of N7.2 billion for the year ended March 31, 2017. It posted a profit after tax of N427 million and paid a dividend of 40 kobo per share. However, investors should expect better performance and returns as the group has projected a revenue of

N8.079 billion and PAT of N618 million. The Group Managing Director/CEO of Redstar Express Plc, Mr. Olusola Obabori made the projection while presenting the company’s facts behind the figures at the Nigerian Stock Exchange (NSE). According to him, Redstar Express is a logistics solution company with competencies in domestic and international express mail deliveries, mailroom administration, haulage, freight, warehousing

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

services, agro trade services and providers of technology driven solutions. “Our mission is to provide superior returns to stakeholders through investments in companies that provide logistics related services and the group has successfully maintained an upward trend in dividend payment over the last 5 years, with the highest record of 40 kobo in full year (FY) 2017,” he said. Speaking on the

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 5-Oct-2017, unless otherwise stated.

performance of the company, the GMD said revenue grew by 10 per cent from N6.6billion in FY 2016 to N7.2billion in FY 2017 as a result of consistent increase in revenue drive, through increase in customer base, innovation and investment in assets. “Gross profit rose by 12 per cent from N1.9billion in FY 2016 to N2.1billion in FY 2017. PBT increased by 14 per cent from N572million in FY 2016 to N653 million in FY

2017, this is attributable to our efficient cost management approach in the year under review. As a percentage of revenue, the group has consistently maintained a PBT margin hovering around 8.6 per cent and 10.3 per cent with PAT margin hovering around 5.0 per cent and 6.3 per cent in the last five years which is above industry average of 4-5 per cent,” Obabori said. He listed the key success factors to stable board and vibrant management;

experienced and dedicated workforce; advanced technology, network and spread. Going forward, he said the company will invest in new ventures to unlock long term value, explore new growth opportunities in pharmaceutical logistics, agro trade, prints and packaging. He added that the company will increase coverage and visibility by establishing more offices in underserved locations and branch office in Niger Republic.

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 174.86 175.69 37.74% Nigeria International Debt Fund 233.02 233.98 10.22% 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 0.80 0.81 14.28% ACAP Income Funds 0.63 0.63 79.62% 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 18.60% 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 16.74 17.25 35.62% ARM Discovery Fund 356.61 367.36 24.18% ARM Ethical Fund 25.28 26.04 13.15% ARM Money Market Fund 1.00 1.00 18.45% 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 142.71 141.71 34.73% AXA Mansard Money Market Fund 1.00 1.00 18.76% 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 19.04% Paramount Equity Fund 11.57 11.87 23.63% Women's Investment Fund 94.94 97.47 12.28% 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 1,158.73 1,159.91 14.04% FBN Heritage Fund 143.48 144.68 28.69% FBN Money Market Fund 100.00 100.00 18.03% FBN Nigeria Eurobond (USD) Fund - Institutional $112.06 $113.12 8.98% FBN Nigeria Eurobond (USD) Fund - Retail $111.36 $112.42 9.05% FBN Nigeria Smart Beta Equity Fund 150.99 153.19 34.11% 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 1.35 1.37 44.68% Legacy Short Maturity (NGN) Fund 2.89 2.89 12.63% 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 2,837.61 2,875.92 29.04% Coral Income Fund 2,376.57 2,376.57 14.05% 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 17.91% 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 18.22% Vantage Balanced Fund 2.06 2.09 22.67% Vantage Guaranteed Income Fund 1.00 1.00 18.45% Kedari Investment Fund (KIF) 110.92 110.92 14.32%

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 1.13 1.15 14.59% Lotus Halal Fixed Income Fund 1,046.85 1,046.85 8.85% 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 12.73 12.85 31.81% 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 1.19 1.21 19.51% PACAM Fixed Income Fund 10.83 10.87 4.13% PACAM Money Market Fund 10.00 10.00 13.95% SCM CAPITAL LIMITED info@scmcapitalng.com Web: www.scmcapitalng.com; Tel: +234 1-280 2226,+234 1- 280 2227 Fund Name Bid Price Offer Price Yield / T-Rtn SCM Capital Frontier Fund 120.97 123.09 19.37% 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 1.38 1.38 10.96% 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 2,165.28 2,178.03 18.26% Stanbic IBTC Bond Fund 169.09 169.09 9.83% Stanbic IBTC Ethical Fund 0.96 0.97 25.32% Stanbic IBTC Guaranteed Investment Fund 211.59 211.59 13.22% Stanbic IBTC Iman Fund 166.04 168.17 27.88% Stanbic IBTC Money Market Fund 100.00 100.00 18.19% Stanbic IBTC Nigerian Equity Fund 9,311.35 9,417.96 22.78% Stanbic IBTC Dollar Fund (USD) 1.04 1.04 4.00% SIAML PENSION 40 131.72 134.58 33.15% 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 1.31 1.32 16.99% United Capital Bond Fund 1.42 1.42 16.46% United Capital Equity Fund 0.84 0.86 24.69% United Capital Money Market Fund 1.00 1.00 18.50% 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 12.39 12.57 27.15% Zenith Ethical Fund 13.00 13.13 18.39% Zenith Income Fund 18.56 18.56 12.24%

REITS

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

EXCHANGE TRADED FUNDS

Fund Name Lotus Halal Equity Exchange Traded Fund SIAML Pension ETF 40 Stanbic IBTC ETF 30 Fund

Bid Price

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

Bid Price

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

10.56 133.20 103.87

4.39 8.88 16.55 19.45 138.46

NAV Per Share

Yield / T-Rtn

11.41 131.02

1.01% 5.69%

Offer Price

Yield / T-Rtn

10.66 136.09 105.82

22.42% 34.65% 37.07%

funds@vetiva.com

Offer Price 4.43 8.96 16.65 19.65 140.46

Yield / T-Rtn 58.57% 26.17% 39.96% 21.81% 9.23%

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

MONDAY, OCTOBER 9, ˾ T H I S D AY

CITYSTRINGS

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

Criminals Behind Bars

Efforts of the Lagos State Police Command have paid off with the recent arrest of 10 notorious members of an armed robbery gang. Femi Ogbonnikan who spoke with the suspects, reports

The arrested 10-man armed robbery gang with their stolen vehicles

rack detectives attached to the Rapid Response Squad (RRS) of the Lagos State Police Command have apprehended a 10-man gang which specialised in raiding homes in a Lagos suburb. The arrest was made on Thursday, September 28, 2017 in Onitsha, the commercial nerve centre of Anambra State. Following incessant attacks on Ayobo community, Ipaja, in Alimosho Local Government Area of the state in the last one year, it was learnt that the residents, in their hundreds, thronged the RRS headquarters, Alausa Secretariat, Ikeja, where they demanded to see the Commander in-charge of the Squad, Mr. Olatunji Disu, an Assistant Commissioner of Police (ACP), who in response and having obtained clearance from the Lagos State Commissioner of Police, Mr. Imohinmi Edgal, swiftly deployed decoy detectives, with the aid of tracking devices, to go after the notorious criminals. A week, shortly after the intervention, it was gathered that the deployment of the detectives quickly paid off, culminating in the arrest of three suspects after which seven others were subsequently picked up at different locations in Anambra State and the recovery of 10 exotic vehicles from their buyers. While parading the arrested 10 suspected armed robbers, alongside a score of others before newsmen at the Command Headquarters, Fajuyi Way, GRA, Ikeja, on Monday, October 2, 2017, Lagos State Commissioner of Police, Edgal, stated that the command under his watch would not spare a rod at getting rid of criminal elements operating within the state. He said the command would go all out to recover all stolen loots from the state wherever they might be kept in any part of the country. According to one of the prime suspects, Abayomi James, the gang's operations were

being coordinated from the Kirikiri Maximum Prison, Apapa, Lagos, by an inmate simply addressed as 'Odudu', who is currently serving a jail term. James, 34-year-old, who is a resident of House No. 3, Oyewole Street, Ajegunle, Apapa, Lagos, said he first came in contact with Odudu at Kirikiri Prison when he (James) was sent to jail on conviction over an armed robbery incident sometime in 2016 at Ayobo, Ipaja, during his maiden operation at the affected community. "I came in contact with Odudu at Kirikiri Maximum Prison when I was serving a jail term there. It happened that sometime in 2016, it happened that we went to operate at Ayobo late one night. Usually, we would prey at midnight when the entire members of the Ayobo would have gone to bed. On that particular day, we got to Ayobo community at 10:00p.m. We hid ourselves inside an uncompleted building within the neighbourhood. Usually, it is the responsibility of Nsima to do surveillance at daylight on where to operate and he had done that. He is also our armourer. I usually hire guns

According to one of the prime suspects, Abayomi James, the gang's operations were being coordinated from the Kirikiri Maximum Prison, Apapa, Lagos, by an inmate simply addressed as 'Odudu', who is currently serving a jail term

and buy ammunition which I subsequently give to Nsima for safekeeping until we have operations. But the task of Omokharo Efe is to hire boys that would participate in our operations. All the loots, including generating sets, television flat screen sets, wall clocks, wrist watches, cloths, cars, and others are usually in custody of Nsima. Immediately, we succeeded in making away with these loots, it is the responsibility of Nsima to call buyers, while he would park the carted away vehicles at Mile 2, awaiting the arrival of the would-be buyers to take delivery of them. "But we were very unlucky on that day when we attempted to raid a home and night guards accosted and gave us a hot chase. I was the only member of the gang that was caught while others escaped by a whisker. I was taken to a nearest police station. From there, I was arraigned in court and sent to jail. It was in that jail that I came in contact with Odudu who also taught me the more on how to operate successfully without being arrested. While we were together I linked him up with my other members and he was coordinating operations from the prison. He directs where, how and when to operate. Odudu is serving a jail term for armed robbery. I met him in prison custody. "We usually dispose of Toyota Camry Saloon cars (2001 model) for a give-away price of N150,000," said the Ilaje, Ondo State-born suspect. Uzuazomaro Joseph, a container truck boy at Apapa Port, Lagos, claimed it was Omokharo that initiated him into the criminal gang. According to him, it was Chukwudi Onyemara that usually gave him guns to keep and hand them over to Omokharo whenever they were preparing to carry out raids. "When we were arrested by the Police in Anambra State, three vehicles were recovered from our buyers there," said the 34-year-old suspect.

Chukwudi Onyemara, in his own confessions, claimed it was Abayomi and Omokharo that usually go on the prowl for snatching vehicles. "Whenever we wanted to strike at the Ayobo homes, we would scale the fences, no matter how high they are and cut burglary proofs. After succeeding, we would at gunpoint ask our victims to surrender their entrance keys to us, dispossess them of their belongings and remove their vehicles. Usually, we would stay till daybreak with our victims before we would take our leave, in order to beat security checks we might encounter along our ways, if we have decided to leave earlier," confessed the 28-year-old suspect. He added that it was Nsima's younger brother that introduced the armed robbery gang to him at an Indian hemp smoking joint in Ajegunle sometime in 2016. "I know Abayomi in Ajegunle to be an Ilaje who along his kinsmen are deeply involved oil bunkering activities near Taqwa Bay, Ajah, Lagos. "Since I joined the gang we have never killed anybody. We were only using the guns to intimidate our victims, in order to force them to surrender their belongings to us without hesitation. “Like Abayomi had said, we used to hide inside bush where there are uncompleted buildings. Any building that has its generating set functioning we usually cash in on the noisy machine to launch our attacks. With the screaming hum of the generating set we would scale the fence, no matter the height of the fence and our victims would not know. All the loots were usually taken to Mile 2 and the following day, we would call our would-be buyers who are based in the Eastern part of the country to come for them. “We sell Toyota Camry Saloon car (2010 model) at a give-away price of N300,000, while an Accura MDS Jeep goes for N800, 000. Also, a vehicle, like Mercedes Benz ML

MONDAY, OCTOBER 9, Ëž T H I S D AY

CITYSTRINGS

L-R: RRS Commander, ACP Olatunji Disu, Lagos State Commissioner of Police, Imohinmi Edgal and Lagos State DCP Operations, Alhaji Muhammed, during the parade of the 10 suspects

The recovered weapons of the 10-man armed robbery gang

Jeep goes for N2.5 million," added Onyemara. Benedict Udoh, a vehicle registration agent who is responsible for re-registering all the stolen vehicles, disclosed he didnâ€™t know that all the vehicles being brought to him were stolen. "I never knew that all the vehicles I have been registering for Marvis Umeh are stolen ones. Initially, I was engaged as a vehicle clearing agent in Cotonou, Republic of Benin capital before I decided to relocate to Berger, Apapa, Lagos, as a vehicle registration agent. All along, I have known Marvis to be a vehicle clearing agent because that was what he introduced himself to be. But I never knew he is into vehicle snatching. I knew him through his elder brother who usually buys vehicles at Berger, Apapa, Lagos, regularly," said the 35-year-old suspect. But police sources hinted that Marvis is an ex-convict who had once served a jail term.

According to the police sources, the suspect was fond of registering vehicles without even

Whenever we wanted to strike at the Ayobo homes, we would scale the fences, no matter how high they are and cut burglary proofs. After succeeding, we would at gunpoint ask our victims to surrender their entrance keys to us, dispossess them of their belongings and remove their vehicles

seeing the vehicles he was registering. On every registration, it was hinted that Marvis charges N65,000 for a vehicle. Augustine Uchenna, in his own confessions, said he, Sammy, Nsima, Collins and Ogwuma sometime in 2015 invaded Ayobo community but they were unlucky as they were arrested and sent to prison where they spent a year and a month before they were released on bail conditions. "After our release from prison custody, I returned to my business as a Danfo bus driver. There was a day Nsima and I met again and we exchanged compliments. Soon afterwards, we met again and decided to raid Ayobo community, the second time. Again, we were unlucky as the night guards gave us a good fight and chased after us. We all escaped by a whisker. I escaped into a nearby church where they were doing vigil," said Augustine, a father of seven children.

Samuel Shokunbi, 33 years old, said he was introduced into the gang by one Nsima. He said he met Nsima through a friend, Henry, a fellow clearing and forwarding agent at Apapa Sea Port. A knife, a locally made pistol and four live cartridges were recovered from the suspects. The recovered vehicles include two Toyota Camry Saloon cars, a Toyota metric car, an Acura MDS Jeep, a Mercedes Benz ML Jeep and a Toyota Saloon car (2010 model). Edgal, the Lagos CP, has directed that the 10 suspects be handed over to the operatives attached to the Federal Anti-Robbery Squad (FSARS) of the Command headquarters, for a discreet probe into the matter with a view to apprehending other suspects that might still be at large. He added that the suspects would be arraigned in court as soon as investigations are concluded into the matter.

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Ëœ Î Ëœ ÍşÍ¸ÍšÍľ Ëž T H I S D AY

Nigeriaâ€™s top 50 stocks based on market fundamentals

6-Oct-17

5-Oct-17

% Change

Capitalisation

EPS

P/E

P/S

Div. Yld

Price/ Book Value

01 Dangote Cement Plc

217.61

215.00

1.21%

3,708,184,816,402.05

13.34

15.95

4.93

3.76%

4.40

02 Nigerian Breweries Plc

170.00

163.60

3.91%

1,347,947,150,960.00

3.58

51.23

4.64

1.96%

8.77

03 Guaranty Trust Bank Plc

40.70

40.25

1.12%

1,197,848,994,416.80

4.49

8.79

2.78

4.48%

2.16

1,223.01

0.00%

969,426,522,758.52

10.00

122.02

5.32

2.38%

31.32

05 Zenith Bank Plc

25.01

24.68

1.34%

785,226,309,587.86

4.13

5.52

1.41

7.89%

1.02

06 Stanbic IBTCÂ Holdings Plc

41.01

41.00

0.02%

410,100,000,000.00

2.85

14.20

2.59

0.25%

2.88

07 United Bank for Africa Plc

9.44

9.20

2.61%

342,478,728,479.68

1.99

4.81

0.91

6.26%

0.78

16.75

0.00%

307,354,982,851.25

0.68

26.61

0.56

3.44%

0.53

9.90

9.80

1.02%

286,386,919,146.90

13.18

0.76

5.50%

0.64

68.00

61.95

9.77%

269,992,439,060.00

0.03 2,338.93

3.81

1.90%

6.49

472.49

450.00

5.00%

261,433,589,789.37 -82.02

-5.88

4.21

3.30%

0.71

12 Lafarge Africa Plc

57.31

54.10

5.93%

261,041,422,731.10

3.71

15.36

1.18

5.26%

1.04

13 FBN Holdings Plc

6.00

5.70

5.26%

215,371,756,752.00

0.16

35.99

0.35

2.55%

0.35

14 Dangote Sugar Refinery Plc

13.98

13.55

3.17%

167,760,000,000.00

2.01

6.92

0.77

3.60%

2.19

15 Unilever Nigeria Plc

43.53

43.43

0.23%

164,686,885,762.50

0.81

49.26

2.17

0.13%

12.95

16 Guinness Nig Plc

98.50

0.00%

148,329,986,518.00

-3.06

-25.17

1.12

4.16%

2.94

17 International Breweries Plc

38.00

0.00%

125,181,472,640.00

0.02 1,642.11

4.58

0.68%

11.11

241.00

0.00%

81,824,762,717.00

43.58

5.43

0.28

5.92%

3.41

26.55

0.00%

69,673,497,314.85

3.71

7.82

0.14

6.90%

0.72

5.73

5.94

-3.54%

68,958,366,262.62

0.29

23.59

0.18

10.95%

0.43

21 Forte Oil Plc.

49.00

48.10

1.87%

63,821,574,047.00

3.66

13.66

0.50

6.90%

1.38

22 Okomu Oil Palm Plc

66.37

63.21

5.00%

63,311,006,700.00

5.15

12.75

4.36

0.15%

3.68

166.00

161.72

2.65%

59,858,813,492.00

22.61

7.69

0.67

4.14%

2.92

90.00

90.02

-0.02%

57,653,132,670.00 -21.86

-4.21

0.52

2.39%

5.47

25 Transnational Corporation Of Nigeria Plc

1.33

0.00%

51,498,926,575.25

-0.03

-43.98

0.83

0.00%

0.57

26 Fidelity Bank Plc

1.36

1.35

0.74%

39,389,116,541.12

0.39

3.54

0.26

11.68%

0.21

27 Julius Berger Nig. Plc

29.33

0.00%

38,715,600,000.00

-2.89

-11.83

0.32

4.39%

0.64

28 National Salt Co. Nig. Plc

12.62

0.00%

33,435,912,330.36

0.91

14.26

1.88

4.23%

4.28

29 U A C NÂ Plc

15.01

0.00%

28,832,174,448.87

3.37

4.44

0.38

6.68%

0.38

30 Sterling Bank Plc

1.00

0.00%

28,790,418,126.00

0.18

5.86

0.27

8.57%

0.35

31 Diamond Bank Plc

1.10

1.09

0.92%

25,476,427,864.80

-0.29

-4.02

0.13

0.00%

0.12

32 Glaxo Smithkline Consumer Nig. Plc

21.00

0.00%

25,113,406,248.00

3.02

6.95

1.67

1.43%

1.50

33 PZ Cussons Nigeria Plc

23.55

0.00%

23,550,000,000.00

5.69

4.73

1.87

0.37%

0.72

34 Cap Plc

32.50

0.00%

22,750,000,000.00

2.17

15.89

3.54

3.33%

16.77

35 Custodian And Allied Insurance Plc

3.65

3.50

4.29%

21,468,804,311.75

1.06

3.35

0.51

3.93%

0.64

36 Mansard Insurance Plc

2.00

0.00%

21,000,000,000.00

0.25

7.57

0.96

2.63%

0.99

37 FCMB Group Plc

1.05

1.03

1.94%

20,792,846,320.05

0.09

13.13

0.13

8.93%

0.12

10.33

10.26

0.68%

19,401,827,073.20

-0.64

-18.74

0.70

10.77%

2.15

39 Wema Bank Plc

0.50

0.00%

19,287,233,040.50

0.07

7.59

0.37

0.00%

0.41

40 Honeywell Flour Mill Plc

2.05

0.00%

16,256,905,198.90

-0.40

-5.19

0.35

7.62%

0.50

41 Continental Reinsurance Plc

1.32

1.36

-2.94%

13,692,022,491.84

0.30

4.51

0.54

8.96%

0.69

42 Cement Co. Of North.Nig. Plc

8.06

8.36

-3.59%

10,128,822,793.96

1.29

6.96

0.70

1.11%

0.90

43 Skye Bank Plc

0.53

0.00%

7,356,559,747.30

-2.93

-0.21

0.05

49.18%

0.08

44 Wapic Insurance Plc

0.50

0.00%

6,691,369,126.00

0.18

2.78

0.85

6.00%

0.41

45 Unity Bank Plc

0.55

0.57

-3.51%

6,429,135,868.10

0.19

3.16

0.08

0.00%

0.08

46 Resort Savings & Loans Plc

0.50

0.00%

5,664,866,202.00

0.03

17.71

3.72

0.00%

1.94

47 Nigerian Aviation Handling Company Plc

3.41

3.11

9.65%

5,538,585,937.50

0.36

9.51

0.69

5.88%

0.85

48 Fidson Healthcare Plc

3.50

0.00%

5,250,000,000.00

0.50

6.46

0.41

1.56%

0.69

49 UACN Property Development Co. Limited

2.85

0.00%

4,898,437,485.75

-0.90

-3.23

0.79

24.05%

0.15

50 AIICO Insurance Plc

0.55

0.53

3.77%

3,811,612,464.00

1.48

0.38

0.14

8.93%

0.45

04 Nestle Nigeria Plc

08 Ecobank Transnational Incorporated 09 Access Bank Plc 10 Presco Plc 11 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

38 Cadbury Nigeria Plc

TOTAL

11,939,074,141,254.70

TOTAL MARKET CAP

12,314,001,988,494.60

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

96.96%

Table 1 Market Statistics Mkt Indicators

Open 5-Oct-17

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

35,773.98 12.31

36,320.93 12.50

1.53% 1.53%

150.73 11.74

153.34 11.94

1.73% 1.73%

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

Close 6-Oct-177

Change %

Table 3 Top 5 Gainers Stock

Open 5-Oct-17

Presco Plc Nigerian Aviation Handling Company Plc Lafarge Africa Plc FBN Holdings Plc

Close Change % 6-Oct-177

61.95 3.11

68.00 3.41

9.77% 9.65%

54.10 5.70

57.31 6.00

5.93% 5.26%

Table 4 Top 5 Losers Stock

Open 5-Oct-17

Cement Co. Of North.Nig. Plc Oando Plc Unity Bank Plc Continental Reinsurance Plc 7-Up Bottling Comp. Plc

8.36 5.94 0.57 1.36 90.02

Close Change % 6-Oct-177 8.06 5.73 0.55 1.32 90.00

-3.59% -3.54% -3.51% -2.94% -0.02%

Market sustains bullish trend with 1.53% gain Market pulse on the Nigerian Stock Exchange (NSE) today - Friday, October 6th, 2017 ended positive as the market closed green. This was further highlighted by positive performance from the NSE Subsectors: Banking, Consumer Goods and Oil & Gas (Save Insurance). Also, trading activities increased in volume as 367.07 million shares worth N3.74 billion in 3,773 deals exchanged hands today. This is an increase from the 317.44 million shares worth N2.85 billion in 3,327 trades were carried out on Thursday. Topping in volume terms are: Diamond Bank Plc, FBN Holdings Plc and Zenith Bank Plc; while Zenith Bank Plc and Guaranty Trust Bank Plc ended trading as the most active stocks in value terms. The All Share Index (NSEASI) closed positive with 1.53% (+546.95) increase to close at 36,320.93 from 35,773.98 the previous trading day. Market capitalization appreciated in tandem to N12.50 trillion from N12.31 trillion of prior trading day. Similarly, the Thisday BGL 50 Index closes with an increase of 1.73% to 153.34 from 150.73 recorded at the end of the previous trading day, while its market capitalization stood at N11.94 trillion from N11.74 trillion of the previous trading day. A total number of 35 stocks gained on the bourse today while 14 stocks declined, leaving 59 stocks unchanged. Leading the pack again was Presco Plc led with a gain of 9.77% to close at N68.00 per share. It was followed by Nigerian Aviation Handling Company Plc with a gain of 9.65% to close at N3.41 per share. Others on the gainersâ€™ list include: Lafarge Africa Plc, FBN Holdings Plc and Okomu Oil Palm Plc. On the declinersâ€™ list, MRS Oil Nig. Plc led with a loss of 4.92% to close at N27.46 per share. It was followed by Cutix Plc with a loss of 4.80% to close at N2.38 per share. Others on the decliners list include: CCNN Plc, Oando Plc and Unity Bank Plc. Presco Plc re-emerged the toast of investors as it topped the Thisday BGL 50 Index gainersâ€™ list with a gain of 9.77% to close at N68.00 per share. It was followed by Nigerian Aviation Handling Company Plc with a gain of 9.65% to close at N3.41 per share. Others on the gainers chart include: Lafarge Africa Plc, FBN Holdings Plc and Okomu Oil Palm Plc. On the declinersâ€™ list, CCNN Plc led with a loss of 3.59% to close at N8.06 per share. It was followed by Oando Plc with a loss of 3.54% to close at N5.73 per share. Others on the declinersâ€™ list are: Unity Bank Plc, Continental Reinsurance Plc and 7-Up Bottling Comp. 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 MONDAY OCTOBER 9 2017

MONDAY, OCTOBER 9, 2017 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Catalan Independence Declaration ‘Will Have No Effect’, Says Rajoy Any declaration of independence by Catalonia will have no effect, Spanish Prime Minister Mariano Rajoy has warned, adding that he is not ruling

out suspending the region’s autonomy. In an interview with El País newspaper, Mr Rajoy also rejected any mediation

White Nationalists Return to Charlottesville White nationalist protesters have returned to the US town Charlottesville two months after violent clashes there saw a woman killed. The town’s mayor said the small group’s appearance at the statue of a Confederate general was “another despicable visit by neo-Nazi cowards”. The brief torch-lit rally was organised by far-right figure Richard Spencer. In videos he posted protesters can be heard chanting “You will not replace us” and “we will be back”. The statue of Confederate General Robert E Lee was also the venue for the “Unite the Right” rally in August, held to oppose plans to remove it.

Counter-demonstrator Heather Heyer, 32, was killed when a participant drove into a group of counterprotesters at high speed. Between 40 and 50 people are thought to have attended the rally in Emancipation Park by the statue of Gen Lee, which has been covered up while a legal challenge to its removal takes place. In the video live-streamed by Mr Spencer, he said Charlottesville had become a symbol of the suppression of free speech and destruction of historical monuments. The group, all dressed similarly and holding lit torches, could be heard chanting “the south will rise again” and “Russia is our friend”.

to resolve the crisis. On Saturday thousands of people rallied in Madrid for Spanish unity. A similar demonstration is under way in Barcelona in response to last week’s disputed referendum. The final results from the wealthy north-eastern region showed 90% of the 2.3 million people who voted backed

Merkel’s “open-door” policy for the success of the nationalist AfD in the election. The AfD entered parliament for the first time, with 12.6% of the vote. It is increasingly seen as far-right in tone with the focus on immigration and Islam. The Christian Democrats (CDU) and CSU, or Christian

were also hurt. In the El País interview, Mr Rajoy said: “The government will ensure that any declaration of independence will lead to nothing.” Asked whether he was prepared to invoke Article 155 of Spain’s constitution, which allows the national parliament to intervene in the running of an autonomous region,

Mr Rajoy said: “I don’t rule out absolutely anything that is within the law.” The prime minister also said he planned to keep the extra police deployed to Catalonia before the referendum in the region until the crisis was over. And he added that he would not call early national elections because of the growing political crisis.

North Korea: Kim Jong-un Promotes Sister to Politburo North Korea’s Supreme Leader Kim Jong-un has given his sister more power by promoting her to the nation’s top decision-making body. Kim Yo-jong, the youngest daughter of late leader Kim Jong-il, will be replacing her aunt as a member of the Workers Party’s Politburo. Ms Kim, 30, was referred to as a senior party official three years ago. The Kim family has ruled North Korea since the

German Election: Merkel Launches Coalition Talks Immigration is expected to feature as German Chancellor Angela Merkel holds talks on forming a coalition after her party’s disappointing performance in September’s election. Talks start with the CSU, the sister party of her Christian Democrats. The CSU has called for a cap on refugee numbers, blaming Mrs

independence. Turnout was 43%. There have been several claims of irregularities, and many ballot boxes were seized by Spanish police. Nearly 900 people were injured as the police, trying to enforce a Spanish court ban on the vote, attempted to disperse voters. Thirty-three police officers

Social Union, are hoping to sort out their policy programme before they can begin talks with other parties. The CSU leader and Bavarian premier, Horst Seehofer, has called for migrant numbers to be restricted to 200,000 a year after Mrs Merkel allowed in 1.3 million mainly Middle Eastern migrants and refugees from 2015.

country was established following the Second World War in 1948. Ms Kim, who has frequently appeared alongside her brother in public and is thought to have been responsible for his public image, was already influential as vice-director of the propaganda and agitation department. She is blacklisted by the US over alleged links to human rights abuses in North Korea. Her promotion was announced by Mr Kim at a party meeting on Saturday as part of a reshuffle involving dozens of other top officials. The BBC’s Danny Savage

says the move to elevate Ms Kim will be seen as further evidence of the Kim family’s iron grip on North Korea. When Ms Kim was given a key post at the country’s rare ruling party congress last year, it was widely expected that she would take up an important role in the country’s core leadership. Among other announcements made on Saturday was the decision to promote Foreign Minister Ri Yong-ho - who last month referred to US Pre s i d e n t D o n a l d Trump as “President Evil” a t a UN meeting - to a full vote-carrying member of the Politburo. Mr Ri has recently

accused Mr Trump of declaring war on North Korea and said that if the president continues with his “dangerous” rhetoric the US will become an “inevitable” target for missile strikes. The promotions come as a defiant Mr Kim once again made it clear that North Korea’s nuclear weapons programme would continue despite sanctions and threats. His comments were made hours before Mr Trump tweeted that “only one thing will work” in dealing with Pyongyang following years of dialogue that the US president said had failed to deliver results.

MONDAY, OCTOBER 9, 2017Ëž T H I S D AY

NEWS

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

Again, Soldiers Raid Kanuâ€™s Home IPOB: Boycotting Anambra election is our last card to achieving referendum Emmanuel Ugwu Ă“Ă˜ Ă—Ă&#x;Ă‹Ă’Ă“Ă‹ Ă‹Ă˜ĂŽ David-Chyddy Eleke Ă“Ă˜ ĂĄĂ•Ă‹ After the September 14 invasion of the home of the leader of the Indigenous People of Biafra (IPOB), Nnamdi Kanu, soldiers yesterday raided the place once again, saying they were searching for â€œtechnical items.â€? The latest incursion was made known by the younger brother of the IPOB leader, Emmanuel Kanu, who told journalists on phone that the raid was carried out even when the military was yet to account for the whereabouts of his brother and leader of IPOB. He alleged that household items were carted away by â€œthe invaders,â€? including television sets, generators, clothes, among other belongings of the royal family of Afaraukwu Ibeku. According to him, the palace was â€œlootedâ€? following the raid. He therefore called on the international community to prevail on the Nigerian Army to stop further raiding of his fatherâ€™s palace and to also account for the whereabouts of the IPOB leader. However, the desk officer of Operation Python Dance in charge of Abia State, who had always refused to reveal his identity when contacted on phone, confirmed the raid, saying it was a joint operation with the state police command. He denied that household

items were removed from the home of the Kanus, insisting that â€œthe things removed may be technical itemsâ€? and that â€œsomebody was arrested with weapon in the compound.â€? The Operation Python Dance desk officer said the joint operation at the home of IPOB leader was based on intelligence report at the disposal of the security agencies which, according to him, indicated that arms were hidden in the compound. The Abia State Police Command which was named as a party in the joint operation did not confirm its participation as phone calls put through to both the state police commissioner, Mr. Anthony Ogbizi and the state Police Public Relations Officer, Mr. Geoffrey Ogbonna, did not yield positive results. Both men did not pick the calls and neither called back while the PPRO did not respond to text messages sent to him Meanwhile, IPOB has said boycotting the Anambra State governorship election is the only card left for its members living in the state to demonstrate their resolve to leave Nigeria through the conduct of a referendum. A statement by the groupâ€™s Publicity Secretary, Mr. Emma Powerful, stated that IPOB members in Biafraland would boycott the Anambra gubernatorial election on November 18, 2017, describing it as the day of destiny for all lovers of freedom.

The statement read: â€œEvery genuine Biafran desiring of freedom for Biafra from this Islamic bondage of Hausa Fulani caliphate called Nigeria must not only stay at home on that day, but must also make sure those around them do not vote. November 18, 2017 is a date with history. â€œIf we Biafrans succeed in demonstrating before international observers that we are serious about our freedom by locking down Anambra State on that day, the world will be in no doubt that Biafra is unstoppable. Our destiny is firmly in our hands. â€œWe must teach corrupt Igbo politicians that money cannot buy IPOB because we are special breed untainted by the corrupt tendencies of Nigerian politics. Locking down Anambra State will pave the way for IPOB to announce a date for substantive referendum later next year with or without the approval of Nigeria.â€? The group said events in Catalonia and Kurdistan have pointed the way forward for

it because it was clearly demonstrated by both nations that IPOB can call for and conduct its own referendum with or without the cooperation of Nigeria. It said that election boycott is the only legitimate tool left in the hands of oppressed people to register their displeasure with the ongoing genocide, arbitrary arrests and torture across Biafraland. The statement further added that the whole world was watching to see how serious the group was towards the realisation of Biafra, and that the successful boycott of the election come November 18 will prove to the entire world how determined they were towards having their own nation. â€œWe are therefore asking every Biafran and IPOB member who believe in the supremacy of the restoration of Biafra over deceitful game of Nigerian politics to sit at home and not venture outdoor on the 18th November 2017 no matter the amount of threat. â€œIPOB under the supreme command and leadership of

Nnamdi Kanu is determined to show the world how serious we are towards the restoration of Biafra. Come the 18th of November, the world will know that Biafrans cannot participate in a fraudulent election organised by those that came to our land, killed us and when we complained, they tagged us terrorists. â€œWe must remain strong and resolute before our enemies as our leader taught us. He have come too far to allow propaganda and blackmail to derail us. As the blessed children of the Most High, it is our duty to let the world know that terrorists donâ€™t vote.â€? However, the number of people arrested by security agencies for belonging to IPOB has further swelled the already congested prisons in Abia State, thereby raising fresh concerns over the welfare of detainees and inmates. Scores of young persons suspected to be IPOB members have been rounded up by the military and other security agencies in the wake of the Operation Egwu Eke (Python Dance II), a military exercise

launched in Abia and other states of the South-east zone, which is expected to end on October 14. The arrested persons many of whom had been arraigned in court were remanded in prison custody pending the conclusion of their court trials. The state Attorney General and Commissioner for Justice, Chief Umeh Kalu (SAN), said he was aware that the prisons have been overstretched with the arrival of IPOB members arrested in the wake of the clampdown by security agencies. To this end, he has donated 100 mattresses to the prisons, which he handed over to the state Controller of Prisons, Mr. Sylvester Ayoka, to ameliorate the dire conditions of the detainees, especially those being held at Umuahia and Aba prisons. Speaking at the event, Kalu appealed to all men of goodwill to come to the prison services to take good care of the detainees and inmates of the prisons as their capacities were being stretched to explosive limits.

Sâ€™East, Sâ€™South Govs Meet in Owerri as Okorocha Harps on Nationâ€™s Unity Christopher Isiguzo Ă“Ă˜ Ă˜Ă&#x;Ă‘Ă&#x; Governors from the South-east and South-south geopolitical zones have converged on Owerri, the Imo State capital, in continuation of their interregional integration initiatives. The meeting, which is the third since their coming together, held at the Government House, Owerri as at the time of filing this story last night. Apart from Governors Nyesom Wike of River State and Godwin Obaseki of Edo State who were yet to arrive as at press time, the other governors had arrived in good time. They included the host governor, Rochas Okorocha of Imo State, Ifeanyi Ugwuanyi (Enugu), Ifeanyi Okowa (Delta), Udom Emmanuel, (Akwa lbom), Ben Ayade (Cross River) and Seriake Dickson (Bayelsa). Others are Chief Willy Obiano Â (Anambra), Dave Umahi (Ebonyi) and Okezie Ikpeazu of Abia. Welcoming his guests, Okorocha said the meeting would discuss the peace, development, unity, understanding, progress and cooperation as they concern the two zones in particular and the nation at large. â€œWe are here for the common good of our dear nation, Nigeria

and her teeming population. We are here for the good of all,â€? he said while expressing the hope that the meeting will come up with â€œopinions and ideas that will, to a large extent, help our states individually and collectively and also help our nation greatly.â€? Okorocha added that the coming together of the governors of the two zones to deliberate on the way forward was enough to excite all men and women of goodwill, adding that it showed their resolve to devote less time to partisan politics and talk about development and those things that unite them.Â He, however, advocated Â a constitutional amendment to make it possible for governors to go to states other than theirs to serve for three months, saying by so doing, the unity of the country would be strengthened. â€œI know that one day, in the course of the history of this nation, Nigerians will rise to such a height that the Igbos, Ijaws, Efiks, Hausas, Fulanis, Itshekiris, Idomas, and all, will be talking as one people, and the issue of where one comes from, wonâ€™t be a serious issue again,â€? he said. The meeting is expected to end in the early hour of today.

HONOUR TO A GREAT NIGERIAN

L-R: Senior Pastor, Trinity House Church, Pastor Itua Ighodalo; Special Guest, Chief Olu Akinkugbe; former Head of State, General Yakubu Gowon (rtd); receiving Trinity House Leadership Award; and Group CEO, FCMB Holdings, Mr. Ladi Balogun at the Trinity House 2017 Honour Nigeria Award in Lagos... yesterday Ë›

INEC to Deploy 2,128 Adhoc Staff for Anambra Guber Poll

OnyebuchiÂ Ezigbo Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹

The Independent National Electoral Commission (INEC) will deploy not less than 2,128 ad hoc staff to help in the conduct of the Anambra State governorship election scheduled for November 18. It said the state has 532 polling units. As part of arrangements for the poll, the commission said it would organise four levels of training programme for all itsÂ personnel that would take part in the election beginning with the training at the state level starting on Wednesday. Confirming the deployment to THISDAY in a telephone interview at the weekend, the state Resident Electoral Commissioner, Dr. Nwachukwu

Orji, said although the commission is yet to conclude action on the number of ad hoc staff to be deployed, but the practice is that each of the 532 polling stations would be manned by four staff. While giving update on the arrangements being made by INEC to ensure a smooth conduct of the gubernatorial election in the state, the Chairman of the commission, Prof. Mahmood Yakubu, said 6,200 smart card readers would be deployed for the exercise in line with the number of polling units in the state. Yakubu also said a total of 80, 439 new voters have been registered in the state in the ongoing Continuous Voter Registration exercise. Â â€œThe commission is ready

big time for the Anambra governorship election. We have been briefed by the Resident Commissioner on preparations on ground, including security situation and there is no reason for worry. â€œSo far we have had the quietest election in Anambra, the commission have not yet received any injunction to stop the election and this is quite unusual for the state which in the past has had to beÂ embroiled in legal contests,â€? he said The INEC chairman promised that all registered voters in Anambra State would be given their permanent voter card before the election. He also said security agencies have given assurances that there would be adequate security for

the election. Yakubu while assuring that elections in Anambra would be free and fairâ€™ also gave assurances that issues of logistics would not pose any problem for the Anambra election because the state has a good road network. â€œWe want to make the November 18 Anambra governorship election the first election to be concluded at first ballot in recent past, â€œWe will deploy e-tracking of the Anambra election but that the e-election transmission platform will be deployed as a pilot exercise for the governorship elections in Ekiti and Osun States as a test run for the full deployment in the 2919 general election,â€? he said.

MONDAY, OCTOBER 9, 2017˾ T H I S D AY

NEWSXTRA

NNPC Scandal: Buhari Should Quit as Petroleum Minister, Say Falana, ADP Arewa group: President’s silence on corrupt officials is eroding his integrity Onyebuchi Ezigbo ÓØ ÌßÔË ËØÎ John Shiklam ÓØ ËÎßØË A human rights lawyer, Femi Falana, has asked President Muhammadu Buhari to quit as petroleum minister. Buhari has held on to the position of petroleum minister but named Ibe Kachikwu as the Minster of State for Petroleum. Falana’s call is coming after Kachikwu accused the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Maikantu Baru, of violating due process in the award of $25 billion contract. In a petition to President Buhari, which eventually leaked to the media, Kachikwu also accused Baru of insubordination. In his statement yesterday Falana, according to Premium Times, said it was better for Buhari to appoint someone else to supervise the ministry. “Having regard to the enormous responsibilities of the office of the Minister of Petroleum Resources and Chairman of the NNPC Board President Buhari is advised to relinquish the ministerial position in view of his busy schedule and appoint another Nigerian of proven integrity and competence to superintend the affairs of the ministry. “If this advice is accepted in good faith and acted upon without any delay, it would remove undue pressure on the health of the president and allow him to attend to urgent matters of the state,” he said. . Buhari and Kachikwu held a closed door meeting last Friday over the matter. Baru, who is yet to speak publicly on the matter, was also at the presidential villa where he met with Vice President Yemi Osinbajo. Falana also, however, called for Baru’s suspension while calling for an investigation into the matter by relevant agencies including the anti-graft EFCC.

Falana’s statement read: “The people of Nigeria were surprised last week to read the embarrassing petition of Kachikwu addressed to President Buhari pertaining to his inability to consult with the President and substantive Minister of Petroleum Resources and the unilateral award of $25 billion contracts by Baru. “Although it was reported that Kachikwu has since been given access to the president, the details of the discussions between the duo have not been made public. “However, apart from sanctioning the officers responsible for creating the wide gulf between Kachikwu and the president the allegation of the unilateral award of contracts worth $25 billion by Baru ought to be investigated in line with the anti-corruption policy of the Buhari administration. Also, the opposition Action Democratic Party (ADP) has asked President Buhari to immediately resign as the presiding Minister of Petroleum. The party also demanded the immediate suspension of the Group Managing Director of NNPC, Baru, to enable investigations commence, while Kachikwu “should come out boldly and honourably resign his appointment.” While addressing a press conference yesterday in Abuja, ADP National Secretary Dr. James Okoroma, who spoke on behalf of the party, described the scandal as a “national embarrassment in the oil sector, which remains the mainstay of our economy and the cauldron of corruption in Nigeria.” According to Okoroma, government’s loud silence on these allegations was most worrisome. “It is also a clear indication that the APC-led federal government is paying lip service to its much-touted war against corruption, which has been largely selective. “It is worrisome that this monumental fraud could be

Soldiers Ambush, Kill Two Boko Haram Members, Says Official The Nigerian Army at the weekend said its troops had killed two Boko Haram insurgents at Mayanti village of Bama Local Government Council of Borno State. The Deputy Director, Army Public Rations, 7 Division, Kingsley Samuel, told the News Agency of Nigeria (NAN) in Maiduguri the troops had ambushed a group of insurgents while trying to cross into the Sambisa Forest. He explained that the troops neutralised two insurgents while many others escaped with gunshot wounds, adding that some food items were also recovered from the insurgents. “The Mobile Strike Teams (MSTs) of Operation LAFIYA DOLE resolve to rout out the remnants of Boko Haram

terrorists. “MST yielded yet another result with the troops successfully ambushed unsuspecting terrorists at about 10:45p.m. on Friday, October 6, 2017. “The insurgents were attempting to cross into Sambisa Forest from Mayanti village in Bama Local Government Area of Borno State. “The troops sprung the ambush on the terrorists and neutralised two of them, while several others escaped with gunshot wounds. The troops also recovered two bags of maize from the ambush site. “The MST has been a potent deadly mobile lethal force engaging and neutralising the insurgents in several staging areas.”

taking place under his watch (President). It is clear that there is collapse of leadership in the country. If he is incapable of providing leadership in that sector, we demand a change. “There has been no official response. We expect the presidency to come out with a formal response to these allegations since he is the one presiding over the affairs of the petroleum ministry, the buck stops at his table. The president should own up and address Nigerians on these monumental allegations of misappropriation of our national patrimony. “This government has continued to deceive itself with a laughable and dishonest war against corruption when it has refused to clear serious cases of corruption involving its major functionaries.” ADP believe that the leadership collapse in the country “can either be attributed to President Buhari’s ill-health or his inability to check the excesses of the cabal that is

currently running his government. Obviously, this country cannot continue in this manner. “The ADP has already written to the BPE and the NNPC management demanding all the documents on the controversial contracts. This is in line with the provisions of the Freedom of Information Act. We have no option, but to go to Court if they fail to make the documents availablewithin 14 days as stipulated in the FOI Act. “The National Assembly should do the needful by engaging the president directly on this matter, since he is the substantive Minister of Petroleum. They should be guided by their oath of office and ensure that all those who are involved are not spared. “Today in Nigeria, strikes have become common features of our national life as the government appears incapable of providing leadership and meeting up with the aspirations of Nigerians at all levels of governance. All sectors

have virtually collapsed. They include: ‘Health, Education, Transportation, Agriculture, Security etc.’ “Petroleum is the life-wire of our economy. Infractions, breaches and corrupt practices have become common characteristics of this sector. Nigerians who are holding the short-end of the stick have continued to suffer while the managers of our common patrimony wallow in offensive opulence.” However, Arewa Youth Forum (AYF) said President Buhari’s continuous silence on corrupt government officials would erode his reputation as a man of integrity, a factor that contributed to his victory in the 2015 election. The group in a statement in Kaduna yesterday, said “the sluggishness” of the Buhari administration in tackling silent issues of governance had left much to be desired. The statement signed by

the president of the group, Gambo Gujungu, decried the failure of the president to act on the report on Babachir Lawal, the suspended Secretary to the Government of the Federation, (SGF) and Ayo Oke, Director General of the Nigerian Intelligence Agency (NIA), Ayo Oke since the report was submitted to him. The group also noted that the recent allegations by Kachikwu against Baru, was a sore point for the administration. The group lamented that the president and his party, the All Progressives Congress (APC) were yet to bring about the change they promised Nigerians two years after assumption of office. The statement entitled, “time for change is now before it is too late”, lamented the increasing poverty among Nigerians and high rate of violent crimes occasioned by a growing population of jobless youths.

CONSULTATIVE TOUR

L-R: Delta State Commissioner for Health, Dr. Ify Uriah; former Governor of Ogun State and leading aspirant for PDP National Chairman, Otunba Gbenga Daniel; former Governor of Cross River State, Mr. Donald Duke; and Hon. Jelili Kayode Amusan, during Daniel ‘s consultation tour to Delta State in Asaba....yesterday

FG to Permanently Shut Open Drug Market by 2018 Martins Ifijeh The federal government has said that all open drug markets in Nigeria will be permanently shut by December 31, 2018, even as it said it will be introducing drug Coordinated Wholesale Centres nationwide to check the menace of falsified medical products in the country. The Minister of Health, Professor Isaac Adewole, disclosed this in Lagos during a stakeholders’ workshop organised by the National Agency for Food and Drug Administration and Control (NAFDAC) in collaboration with the World Health Organisation (WHO) on ‘The prevention, Detection and Response of Substandard and Falsified medical Products.’ He said the new measures were designed to allow drugs

to be sourced directly from importers or manufacturers down to the end users instead of buying drugs from the open drug markets. According to him, the FMOH had developed the National Drug Distribution Guidelines, (NDDG) in 2012 to address the unsatisfactory chaotic drug distribution system of the country. “Coordinated Wholesale Centres to accommodate open market medicines sellers have been approved and are being developed in Lagos, Onitsha, Aba and Kano and will commence operation by January 1, 2019. “Medicine is an important component of healthcare delivery service and without the infusion of medicines; the health care service delivery system of a nation is sterile.

“A good-quality medicine supply system is essential for healthcare delivery. There is a special need to prevent therapeutic drug falsification in order to safeguard against health and maintain trust in healthcare system. The overall scale of trading in medicine and the resultant harm done to global health has not been adequately accessed,” he said. On his part, the Acting Director General, NAFDAC, Mr. Ademola Mogbojuri, noted that the public health implications of substandard and falsified medical products include treatment failure, high treatment cost, development of resistance, loss of confidence in the healthcare providers and healthcare system and may ultimately, result in fatality and death. Mogbojuri who raised the

alarm that the problem has become a serious, threat to global public health said the fight against this nefarious act requires a sustained action by both governmental and non governmental bodies. Stating that single and isolated interventions cannot address the issue of substandard falsified medical products, he called for coordinated actions with international organisations to reduce to the barest minimum the incidence of the ugly menace. The Acting Director General said WHO established member states mechanism on substandard, spurious, falsely labelled, falsified and counterfeit medical products following its resolution 65:19 in May 2012 to promote public health, and access to affordable, safe, efficacious and quality medical product, across the globe.

MONDAY, OCTOBER 9, 2017˾ T H I S D AY

NEWSXTRA

N40bn: SERAP Seeks Court Orders for FG to Stop Ex-govs’ Emoluments A civil society organisation, Socio-Economic Rights and Accountability Project (SERAP), has sued the federal

government over its failure to stop former governors and now serving senators and ministers from receiving

House Okays 25% Salary Top-up for Teachers in Rural Areas James Emejo ÓØ ÌßÔË The House of Representatives has passed a resolution mandating the Universal Basic Education (UBE) to ensure additional 25 per cent salary increase to teachers in rural areas to serve as incentives to prevent them from leaving the hinterlands. It further urged the UBE to relate with state governments in support of primary education in the country- and mandated its Committee on Basic Education to ensure compliance. The resolution of the lower chamber followed a motion under matters of urgent public importance which was moved by Hon. Omosede Igbinedion (APC, Edo), on the urgent need to attract teachers to remote locations in Nigeria in commemoration of the World Teachers’ Day. Leading the debate, she expressed worry that the rural-urban teachers’ migration were plagued in rural schools and remote location schools in the country. She added that rural schools lacked adequate teaching staff for a number of reasons- pointing to evidence-based inequalities in teaching in rural and urban areas as a reality. Igbinedion further argued that appropriate incentives had not been accommodated in the teaching staff welfare of rural teachers, rather

communities and parentteachers association have committed to improving teaching welfare to attract teachers to rural communities. She said the ruralurban drift of teachers had greatly affected educational development in the hinterlands and impacted negatively on the performance of teachers and the learning process in schools. While urging the House to pass the motion, the lawmaker said the world teachers’ day represented a significant token of awareness, understanding and appreciation of the roles of teachers to education and development. Similarly, Speaker of the House, Hon. Yakubu Dogara hailed Nigerian teachers for their service to the development of the Nigerian child, calling for opportunities of continuous training and retraining, improved remuneration and provision of requisite infrastructure and facilities for them to impart knowledge on students in line with global standards. Himself, once a Grade II teacher, said the House “will not relent in supporting legislative measures aimed at improving our education sector, including the welfare of teachers, to take it to a point where it can compete favourably with its global counterparts.”

PDP Appoints Iorhemba Deputy National Secretary Onyebuchi Ezigbo ÓØ ÌßÔË

administration ahead of the forthcoming Electoral The National Caretaker National Convention.” The statement read: “In Committee (NCC) of the Peoples Democratic view of the above, Iorhemba Party (PDP) has appointed has been re-assigned to Hon. Dave Iorhemba, a serve as the Deputy National former National Legal Secretary with effect from Adviser of the party as September 28, 2017. Also, Deputy National Secretary. the National Chairman of In a statement issued the party, Senator Ahmed yesterday by its spokesman, Makarfi, has appointed the Dayo Adeyeye, PDP said immediate past National the decision was without Legal Adviser, Kwon Victor, prejudice to the earlier as his Special Adviser (Legal position being held by Affairs).” The party said Iorhemba as the Legal the clarification Adviser necessary to The party said: “In view became of the fact that the National correct misconceptions and Caretaker Committee (NCC) contradictory narratives in is no longer too pressured some sections of the media. “The PDP is one big with legal matters since the Supreme Court judgment family and every member is of July 12, 2017, that led enjoined to participate in the the PDP to victory but rebuilding and repositioning instead, requires extra processes to move our great hand in the running of party forward.”

double pay and life pensions, and failure to seek recovery of over N40billion of public funds unduly received by these public officers. The suit number FHC/L/ CS/1497/17 filed last Friday at the Federal High Court Lagos, followed the organisation’s request to the Attorney-General of the Federation and Minister of Justice,Mr. Abubakar Malami (SAN), urging him to use his “position as a defender of public interest to institute legal actions to stop former governors from enjoying emoluments while drawing normal salaries and allowances in their positions as senators and ministers. The suit brought pursuant to Order 34, Rules 1 and 3 of the Federal High Court Rules 2009 and the inherent jurisdiction of the court argues that, “Public function should be exercised in the public interest. Double emoluments promote private self-interest or self-dealing. By signing double emoluments laws, which they knew or ought to know that they

would be beneficiaries, these former governors have abused their entrusted positions, and thereby obtained an undue advantage, contrary to article 19 of the UN Convention against Corruption to which Nigeria is a state party.” The suit is seeking the following reliefs: an order granting leave to the applicant to apply for Judicial Relief and to seek an order of Mandamus directing and or compelling the respondent to urgently institute appropriate legal actions to challenge the legality of states’ laws permitting former governors, who are now senators and ministers to enjoy governors’ emoluments while drawing normal salaries and allowances in their new political offices; and to identify those involved and seek full recovery of public funds from the former governors. The organisation is also arguing that “senators and ministers should not be receiving salaries and pensions running into billions of naira from states that are currently

unwilling or unable to pay their workers’ salaries and pensioners’ entitlements. National and international laws implicitly forbid public officials entrusted with public resources from granting to themselves emoluments for life while serving in other public offices including as senators and ministers.” The suit read in part: “Taking advantage of entrusted public offices and positions to enact laws to grant double emoluments and large severance benefits to serving public officials amounts to not only an abuse of office but also incorrect, dishonourable and improper performance of public functions, as per the provisions of paragraph 2 of article 8 of the United Nations Convention Against Corruption. “By virtue of Sections 150 and 174 of the 1999 Constitution of the Federal Republic of Nigeria (as amended) and Section 26 (2) of the Corrupt Practices and Other Related Offences

Act 2000, the respondent as the Chief Law Officer of the country and the defender of public interest is constitutionally and statutorily empowered to institute and undertake criminal proceedings against any person in Nigeria in respect of any offence created by or under any Act of the National assembly in superior courts in Nigeria. “The federal government has a responsibility to stop former governors from receiving double pay at the expense of workers and pensioners. This position is buttressed by article 27 of the Vienna Convention on the Laws of Treaties, which provides that no state can justify the noncompliance with an international treaty with reference to internal law, including even the constitution.” No date has been fixed for the hearing of the suit. Following SERAP’s letter to Malami, Senate President, Dr. Bukola Saraki, had revealed that he wrote a letter to the state government to stop the payment of his

AGREEMENT REACHED

Sitting: L-R: Head, Nigerian Delegation, Mallam Ismaila Isa; Executive Director, International Press Institute (IPI), Barbara Trionfi: IPI Executive Board Chairman, John Yearwood; Standing: L-R: Senior Special Assistant, Media and Publicity to President Muhammadu Buhar, Garba Shehu; Secretary, IPI Nigerian National Committee, Raheem Adedoyin; Publisher, Blueprint Newspapers, Idris Mohammed; and Chairman, Media Trust Limited/ Chairman, IPI Nigerian National committee, Kabiru Yusuf at the signing of a Memorandum of Understanding (MoU) in Washington DC ….yesterday

Universities Charging Above N2,000 for Post-UTME Must Refund Excess to Students, Says JAMB The Joint Admissions and Matriculation Board (JAMB) yesterday said universities that charged more than N2,000 from applicants for its post-Unified Tertiary Matriculation Examination (UTME) examination would be made to refund the excess payment. JAMB’s Head of Public Relations, Fabian Benjamin, made these known in an interview with the News Agency of Nigeria (NAN) in Abuja. He decried message on the social media that the Minister of Education, Adamu Adamu, had directed the refund of post UTME fee, describing the information as false and could create confusion in the public domain. Benjamin urged the public

to disregard the information, saying that institutions that had charged more than N2,000 would be asked to make refund of the excess. He described as unfortunate a situation where some institutions could not adhere to the minister’ directive about the payment of post-UTME. The examination board said it would partner the Ministry of Foreign Affairs to conduct public examination through Computer Based Test, CBT, for Nigerians abroad. Benjamin said the collaboration was to enhance the conduct of UTME for foreign candidates in 2018. He said 2017 UTME was conducted for foreign candidates on September 30 in Gambia, Saudi Arabia,

United Kingdom, Ghana, Ivory Coast, Benin Republic, Ethiopia, South Africa and Cameroun. According to him, although the conduct of the examination was not justifiable, in terms of monetary value, there is need for JAMB to collaborate, to promote growth in the education sector. “We are already promoting CBT in line with international best practices; we have taken it to some countries in Africa, we need to do more to encourage the practice. “We have even gone ahead to see how we can put some countries on the global map by conducting our public examination there through CBT. “What we want to do is to

partner with the ministry to be able to key into the global technology revolution as part of our foreign policy. “We must be able to maximise profit, especially from West African countries that we are offering assistance, through scholarship, to school in Nigeria. “We cannot achieve much by looking at things from naira and kobo, but through diplomatic relations there will be adequate room to gain through conduct of examination abroad,” he said. The head of public relations explained that foreign candidates sat for examination in one session based on local time of their various countries, adding that the questions were deployed from the board’s headquarters.

MONDAY, OCTOBER 9, 2017˾ T H I S D AY

NEWSXTRA

Group: FoI Progress in Nigeria Inadequate Tobi Soniyi ÓØ ËÑÙÝ Out of over 800 Ministries, Departments and Agencies (MDAs) in Nigeria, only 54

yesterday in Abuja by Rights to Know (R2K), a civil society organisation which monitors compliance with the FOI Act, said the year 2017 recorded 54 submissions as against 44 in 2016. The National Coordinator of Rights to Know, Mrs. Ene Nwakpa, said: “Quantitatively, this slight increase still remains a gross under-performance against the youth development is to our overall, country’s overall stability and backdrop of over 800 Ministries, Departments national security. “For this reason, the Senate and Agencies (MDA’s) has decided to conduct a in Nigeria.” She noted that the roundtable to hear from the public and private sector, Federal Ministry of Justice ideas for moving the issue had taken steps to address of youth development to the challenge with annual the center of the national submission of reports by discussion about Nigeria’s creating a platform on its political and economic future. FoI Portal for MDAs to Not only is Nigeria changing, but the world is rapidly becoming more competitive and technologically advanced.” The Senate, it added, has invited ministries, departments and agencies (MDAs) that implement the Federal Government’s youth development and employment programmes. Also, Civil Society Organisations (CSOs) and private sector organisations that are on the frontline of youth advocacy and programme activities would participate. Besides, panelists will discuss their missions related to youth development and share insights about the challenges they are facing with programme implementation in the face of the current affairs affecting youth. submitted annual Freedom of Information reports to the Office of the Attorney General of the federation. A statement issued

Senate Holds Roundtable Dialogue on Youth Unemployment, Development The Senate will today hold a roundtable dialogue on youth unemployment and development in the country to review the efficacy of policies, programmes and other interventions intended to reduce the political marginalisation and support the development needs of today’s youth. The Media Office of the President of the Senate, in a statement in Abuja noted that Nigeria’s recent economic downturn has exposed the challenges that millions of young people face in starting their lives and finding their rightful place in society. It stated that while youth unemployment rates are at historic highs, efforts to diversify the economy has created uncertainty about the skills building and training needs tomorrow’s work force needs to acquire today. “Youth development has serious political, economic and social implications for Nigerian society,” according to the statement, “This is a critical issue that requires the collaboration of government, the private sector and civil society. All must come together to listen, discuss and better understand how central

upload their FoI reports. The group also released an updated assessment report on the level of compliance by public institutions in Nigeria with two key provisions of the FoI Act; notably, Section 2(3 &4) relating to the provision on Proactive Disclosure—and Section 29 (1,2 &3) obligating an FoI Annual Submission to the Office of the Attorney-General of the Federation (AGF) on or before every first of the month of February. The report found that the Bureau of Public Service Reforms (BPSR), Federal Ministry of Justice (FMOJ), and Nigeria Extractive Industries Transparency Initiative (NEITI) scored high on

the indicators used for the assessment. “This is as a result of the collaborative engagements by R2K, Nigeria with these three public institutions to deepen FoI implementation with support from MacArthur Foundation,” Nwakpa said. She commended the flexibility, forward looking and leadership of NEITI and FMOJ which she said, emulated BPSR to advance a progressive and tech-powered processes in FoI implementation to ease disclosure, deepen transparency and facilitate accountability in the country. She also stated that “this innovative effort by the three public institutions have ensured

that development of FOI portal is now a mandatory line item on the access to information components of the Open Government Policy (OGP) National Action Plan.” Accordig to her, only the Bureau of Public Service Reforms complied with the proactive disclosure provisions and had an electronic FoI portal on its website. But in 2017, NEITI and FMOJ adopted similar electronic FOI portals on their respective websites. R2K, urged all MDAs to emulate the progressive steps taken by the three organisations by proactively disclosing information and responding to public inquiries.

Enugu Disco Threatens to Publish Identities of INVESTORS L-R: Head, PowerGen Business, Bipin Moye; CEO, Sterling and Wilson PowerGen Business India, Sanjay Jadhav; Business Advisor to company, Sandeep Jayaswal; Managing Director, Royal Power and Energy Ltd, Sasha Israni; and Head, Sterling and Wilson MEP Energy Thieves, Defaulters the Business in Nigeria, Devendra Munot, at the grand opening of Sterling Generators showroom and office in Lagos .....weekend Worried over the increasing rate of electricity customers engaging in energy theft and other related shady activities, the Enugu Electricity Distribution Company (EEDC) has threatened to reveal the identities of these individuals to members of the public. In a statement obtained by THISDAY yesterday and signed by Head, Communications, Emeka Ezeh, he said the perpetrators fraudulently use electricity supply without paying for it, adding that it is highly prevalent in the South-east and has seen EEDC consistently loose average of 43 per cent of its revenue monthly. The statement reads in parts: “This activity is negatively impacting our business and is quite discouraging. “It is against this backdrop that the management of EEDC decided to name and shame any individual or group engaging in such act, going forward. This will be after they would have been served the statutory fine and loss of revenue and subsequently handed over to law enforcement agents for prosecution. “The recent review of fine

for meter bypass by the Nigerian Electricity Regulatory Commission (NERC) from N50,000 to N450,000 is quite commendable. It is expected that this will serve as a deterrent to others and possibly reduce the rate of this act. ‘’To tackle this menace, we have set up a special task force to monitor and carry out routine check on our customers to fish out those engaging in this criminal act.’’ It is quite disappointing that the customers who are neck-deep in this activity are the high- energy users. “This is a big challenge to us as a business and we can’t afford to treat this with kid gloves any longer, else it will drown the entire business.” “A situation where some individuals feel it is their right to use electricity without paying for it has to stop. This singular act contributes largely to the issues faced by the electricity service industry in the country” “Customers are therefore encouraged to report any one engaging in this act to the nearest EEDC office or call our Whistle Blowing line (084 700 110) to report such person(s).”

IPI to Hold World Congress in Nigeria in June 2018 Ejiofor Alike The International Press Institute (IPI) has stated that it will hold its annual World Congress in Abuja from June 21 to 23, 2018, under the theme, ‘Why Good Journalism Matters.’ The World Congress will affirm the indispensable role of quality media in building strong societies, showcasing investigative stories and projects that bring positive change to individuals and communities in Africa and around the world. According to a statement issued from Vienna, Austria by the Director of Press Freedom Programmes at International Press Institute (IPI), Scott Griffen, the event is coming as media outlets everywhere face tremendous challenges not only in terms of economic survival, but also from a loss of public trust driven by governmental

hostility to critical journalism and the rise of “fake news” and propaganda. “IPI is thrilled to hold its 2018 World Congress in Nigeria, Africa’s most populous country, which boasts a vibrant and highly innovative media scene,” IPI Executive Director Barbara Trionfi said, after signing a memorandum of understanding with the Nigerian host Committee during an IPI Executive Board meeting in Washington, D.C. A former IPI Executive Board member from Nigeria, Mallam Ismaila Isa, who signed the memorandum on behalf of the Nigerian Host Committee, added: “Nigeria is prepared and looking forward to receiving the world’s media in June 2018. We hope to make this the most successful world congress in the history of IPI.” The Nigeria Host Committee is headed by

President of the Newspaper Proprietors Association of Nigeria (NPAN), Mr. Nduka Obaigbena. In addition to Isa, other members of the host committee include: Chairman of the Daily Trust Newspaper, Mallam Kabiru Yusuf; Senior Special Assistant to the President of Nigeria on Media and Publicity, Mallam Garba Shehu; Secretary of IPI Nigeria National Committee, Mr. Raheem Adedoyin; President of the Nigerian Guild of Editors (NGE), Mrs. Funke Egbemode and President of the Nigerian Union of Journalists (NUJ), Mr. Waheed Odusile. The statement added that 2018 would also mark the 55th anniversary of IPI’s Africa Initiative, a comprehensive journalists’ training programme established in 1963 in Nairobi, Kenya and Lagos, Nigeria with a grant from the Ford Foundation.

The Nigerian Institute of Journalism (NIJ), which was born out of the initiative, still exists today as one of the leading communication and journalism training institutions in Africa. The statement added that the congress would start with an opening ceremony on the afternoon of Thursday, June 21 and would run until the evening of Friday, June 23. It said registration would open soon at ipiworldcongress. com (link) with discounted rates for our members. IPI is a global network of editors, media executives and leading journalists, dedicated to the furtherance and safeguarding of press freedom, the protection of freedom of opinion and expression, the promotion of the free flow of news and information, and the improvement of the practices of journalism.

MONDAY, OCTOBER 9, 2017˾ T H I S D AY

NEWSXTRA

PSC: We Have No Powers to Discipline IG The Police Service Commission (PSC) has said it has no power to discipline the Inspector-General of Police (IG). A statement by Mr Ikechukwu Ani, Media, Press and Public Relations Officer of PSC, said the commission would not compromise its constitutional mandate to appoint, promote and discipline officers of the Nigeria Police Force (NPF). “The commission also wishes to state that its powers to do this does not cover the office of the IG. “The powers of the commission are stated in paragraph 30, Part 1 of the third Schedule of the 1999 Constitution,” he said. Ani said the constitution which gave the commission the powers to appoint, promote and discipline also did not extend the powers to discipline an IG. “The commission under the

leadership of Mike Okiro, is not a mere rubber stamp agency. “It carries out its duties diligently and in accordance with set out guidelines. “It also in the discharge of this duties, takes the IG into consideration as the operational head of the NPF. “The 1999 Constitution, part 111, (supplemental) (b), 215 (2) states; The NPF shall be under the command of the IG,” he said. He said on postings of command commissioners of police, the commission naturally allows the IG who works with these officers and who knows their operational capabilities to recommend to it. Ani, according to the News Agency of Nigeria (NAN), said the commission had given the IG guidelines that should be followed on special promotions. “Meanwhile, all recommendations to the

commission on this issue has been put on hold until he complies with these guidelines. “The commission however can do more with a constitutional provision that allows it protect its decisions. “It is also common knowledge that most times its decisions are not implemented by the IG since constitutionally the commission can not discipline him,” he said. He advised that in the current move to sanitise the NPF, efforts should not be wasted in unnecessary witchhunt. “The current commission will continue to work with Mr President to give the nation the police force that will be the envy of every Nigerian. “Appointments, promotions and disciplinary matters will continue to be guided by laid down rules and regulations,” he said.

Buhari, Osinbajo, Oyegun to Attend Abia APC Mega Rally Emmanuel Ugwu ÓØ ×ßËÒÓÝ The Abia State Chairman of the All Progressives Congress (APC), Chief Donatus Nwankpa has said his party is determined to take over the realm of government in the state from the Peoples Democratic Party (PDP) come 2019. Nwankpa said the machinery to achieve this has been set in motion with the inauguration of a special committee for the first mega rally of the party in the state capital. The Abia APC state chairman said President Muhammadu Buhari, Vice President Yemi Osinbajo and the National Chairman of APC, Chief Odigie Oyegun, are expected to attend the mega rally. Speaking while inaugurating the committee at the party secretariat in Umuahia, Nwankpa,

a former commissioner in the state said the people of the state were yearning for change and good governance which the party was ready to provide. Nwankpa said the APC possesses the reach and strength to meet the desires of the people, saying that the forthcoming mega rally in the state would serve as a veritable platform to unveil those who have joined the party in the state. He said: “We are aware of the challenge before the people of the state and that is why the APC apparatus has thrown in everything to woo credible and very distinguished sons and daughters of the state to join the party.” The Abia APC boss said the idea they brought out to woo new members have yielded amazing results, adding that during the rally that the new entrants would

be unveiled to the people of the state. In his remarks, chairman of the mega rally committee, Hon Iheanacho Obioma, a former member of the House of Representatives, promised not to disappoint the expectations of the party but to work in a manner as to use the rally to showcase the party. Obioma charged other members of the committee including Chief Ogunka Adiele John and Dr Emmanuel Ndukwe, deputy chairman and secretary respectively in the committee’s maiden meeting, to see their nomination as a privilege to serve and not a right. He described their membership of the committee as a call to work to rescue the state from poor governance, want and despair, adding that APC is the most popular party in the state.

Gowon Calls for One Nigeria Vanessa Obioha

reasons, we Nigerians created the problems for ourselves and Former Head of State, General we will solve it ourselves.” Yakubu Gowon, has called for While receiving his award, peace and unity in Nigeria he acknowledged Nigerians for following recent agitations in their support throughout the the country. He stated this at the years and dedicated the award Honour Nigeria Awards where to every Nigerian who fought he recieved a leadership award. for peace of the country. “We must all support one “I’m humbled by this. I Nigeria, work hard to make accept the award on behalf of Nigeria one. We have to all Nigerians: past, present and convince people to believe in one the future trying to keep Nigeria Nigeria. I assure you that there one, to love one another and are more who love Nigeria make Nigeria great. We can and want Nigeria to continue do it. Forget all these ethnic in peace and development than differences that is happening those who are trying to create and harassment from here and problems for Nigeria. there.” “I love Nigeria, I respect Gowon also expressed concern Nigeria. We fought the civil for the younger generation, war with a code of conduct emphasising the need for youths to the truth. How to treat the to live and act like future leaders. people right, that we do not “My concern is for the wellcall the other people enemy, we being of the younger generation, only called them rebels. They that they are the leaders of the are our brothers and sisters and future. That is why one of my must do everything we can to instructions during the war ensure that they live in peace is that they must not harm and that was why I made the any old people, women and statement at the end of the war children. We must give them ‘no victor, no vanquished’ to all the protection that they need. help us with the reconciliation I’m delighted to also say that that we needed to build the a lot of those young people who country. But for some various advised me at the end of the

war has said that we as elders and leaders should never allow any Nigerian child to suffer what they suffered during the civil war. That is the reason why we paid a lot of attention to the young people back then because they are the future.” Pastor Ituah Ighodalo of Trinity House also seized the opportunity to encourage Nigerians to maximise their vast potentials during his sermon. An initiative of Trinity House, the Honour Nigeria Awards was launched in 2011 as part of activities to mark the independence anniversary celebration. The award seeks to recognise and acknowledge outstanding Nigerians who have contributed to the country’s national development in areas of leadership, professionalism, industry, philanthropy, Female Leadership and Role Model; and elder statesman and Africa Prize as role models for present and future generations. Other awardees include Senator David Dafinone, Dr. Stella Okoli, Mrs. Ibukun Awosika, Peter Nwosu and Dr. Yolanda George-David.

ĘśPUNISHMENT

MONDAY, OCTOBER 9, 2017Ëž T H I S D AY

FCT Police Task Residents, Foreign Nationals on Security Urge foreigners to move with escorts, avoid isolated areas

Paul Obi Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹ As Nigerians prepare for the 2017 yuletide season, the Federal Capital Territory (FCT) Police Command yesterday,

urged Abuja residents and foreign nationals residing in the nationâ€™s capital to be security conscious. The caution came as Nigerians prepare for the 2017 Christmas

Senator Nwaoboshi Appeals for Ficture Order For refusing to discharge an ex-parte order allegedly to preserve a contentious property situated atÂ 29 Marine Road, Apapa, Lagos,Â Senator Peter Nwaoboshi and two companies have headed for Â the Court of Appeal against Justice Abdulazeez Ankaâ€™s ruling. The senator, Golden Touch Construction Project Limited (GTCPL) and Bilderberg Enterprises Limited (BEL) are asking the court to invalidate the ruling on the ex-parte order delivered by Justice Abdulazeez Anka of a Federal High Court, Lagos. Justice Anka in the ruling had refused to discharge the ex-parte order initiated by the Economic and Financial Crimes Commission (EFCC) which perpetually put the contentious property, Guinea House under investigation. The judge had ruled that the ex-parte order was necessary to preserve the property until the substantive matter was finally disposed of notwithstanding a pending suit challenging EFCCâ€™s an alleged unconstitutional pasting of the â€˜under investigationâ€™ notice on the property. Besides, Justice Anka on October 4 ruled that there was no basis for an arrest and a

search to be conducted on the property before any forfeiture of assetsâ€™ application would be considered. Apparently dissatisfied, Nwaoboshi and the firms headed for the Court of Appeal, where they lodged a complaint of miscarriage of justice. In their notice of appeal, the trio raised four grounds under which Justice Anka did not only err in law but misdirected himself when he dismissed their application which sought a discharge of the ex-parte order placed in perpetuity on Guinea House located atÂ 29 Marine Road, ApapaÂ despite a subsisting suit challenging the EFCCâ€™s â€˜under investigationâ€™ notice on the property. According to the appellants, even though the EFCC did not place any cogent material before Justice Anka to indicate that any of the appellants would be prosecuted, the order ex parte was not discharged by the judge. Specifically, the appellants are asking the Court of Appeal to determine among others that Justice Anka did not only err in law but misdirected himself when he ruled that the suppression of the pendency of suit No. FHC/ABS/CS/28/2017 by the respondent was not material to warrant an order granted.Â

Enugu Prison Confirms Escape of Two Inmates, Launches Manhunt Christopher Isiguzo Ă“Ă˜ Ă˜Ă&#x;Ă‘Ă&#x; The Enugu State Command of the Nigerian Prisons yesterday began a manhunt for the two escaped inmates of its maximum security prisons in Enugu. They reportedly escaped through the ceiling of St. Peters Catholic Chaplaincy located in the prison yard. The two inmates were said to have been convicted for stealing by Magistrate Court 7 Enugu East and sentenced to two calendar years in prison. In a statement issued by the Public Relations Officer (PRO) of the command, Emeka Monday, the command gave the names of the escaped inmates asÂ Lucky Sama and Balogun Idiom Joseph with charge numbers CME/566c/17 and CME/669c/17 respectively. He, however, dismissed as false media reports that about 200 inmates escaped during the jail break.

According to the prisons spokesman, the prisoners escaped lawful custody at about 11p.m. on Friday, October 6, 2017. â€œSubsequently, the Controller of Prisons, Enugu State Command, Mr. B. N Ogbodo, has ordered the deployment of intelligence unit and search party throughout the state and beyond.Â â€œHe is collaborating with other security agencies to ensure the apprehension of the escapees,â€? he noted. Â According to the spokesman, the Controller of prisons also assured the people of the state and indeed Nigerians that the Prisons formation in the state was calm and peaceful and that inmates were in safe custody.Â â€œWe are calling on the general public with useful information as to the whereabouts of the escapees to reach the command via 08063306606 or the nearest police station, as informant protection is guaranteed,â€? he said.

celebrations, a period associated with surge in crime. According to the FCT Police Command Public Relations Officer, Anjuguri Manzah, the security advice became necessary given growing concerns on possible rise in crime.

He said: â€œThis is to advise and alert members of the public on the need to be security conscious in these ember months as we move closer to yuletide. â€œThe command enjoins residents of FCT and most

especially foreign nationals assigned with police escorts, as a result of the sensitive nature of their work, to always endeavour to move along with their escorts when visiting remote and isolated areas. Manzah also reassured

â€œresidents of their safety and protection, adding that the command had strategically deployed uniform and plain-clothe police operatives across the territory to keep vigil on a daily basis.â€?

RECOGNITION FOR PHILANTHROPY

L-R: Mrs. Moji Shittu; President of Rotary Club, Akobo, Ibadan, Mr. Babatunde Adegoke; his wife Mrs. Rachael Adegoke; and Mr. Layi Shittu during Adegokeâ€™s inauguration in Ibadan...recently

4,281 Nigerians Deported from Europe, US, African Countries Mid 2017 Chinedu Eze About 4,281 Nigerians were repatriated through various countries in Europe, the United States and even some African countries through the Murtala Muhammed International Airport (MMIA), Lagos in the first half of 2017. Also, a total number of 691,934 travellers departed through the airport while another 560,988 travellers arrived the country within the period under review. A document made available to journalists through the Ministry of Interior, indicated that the deportees were divided into two namely; chartered and regular flights. The document revealed that

January and June, 2017, 2,251 Nigerians were deported through chartered flights mainly from Libya and a trickle of European countries. The breakdown of the deportees revealed that 1,321 of them were males while the other 930 were females. About 2,030 Nigerians were deported Â through regular flights, which were mainly from Europe, South Africa and a few African countries. The composition of the deportees revealed that just like in the chartered flights, majority of them were males. According to the document, males deported in the first half of the year were 1,502 while 528 others were female.

Out of these numbers, those who were involved in criminal activities in their host countries were handed over to the Nigeria Police for further prosecution, some who involved in drug related matters were handed over to the officials of the National Drug Law Enforcement Agency (NDLEA) at the airport while others were returned to the National Agency for the Prohibition of Traffic in Persons (NAPTIP). The document further revealed that in the first half of the year, 691,954 passengers both Nigerians and foreigners used the facilities at MMIA to depart to various destinations from the country. Out of these numbers, 519,215 were Nigerians with higher

number of males while another 179,739 were foreigners departing the country. Also, within the period, 550,988 passengers arrived Nigeria through the international wing of the Lagos Airport. The breakdown revealed that 392,237 of them were Nigerians while the other 158,751 were foreigners from various countries.. A source close to the Nigerian Immigration Service (NIS) speaking on the issue said that the statistics were important for the Nigerian government to know the numbers of people entering or exiting the country, adding that this would enable the government to monitor and plan adequately.

Treat Killer Herdsmen as Boko Haram, Stakeholders Urge FG Alex Enumah Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹ Stakeholders in the agriculture sector have called on the federal government to begin to treat killer herdsmen like Boko Haram insurgents if the current efforts aimed at achieving food security in the country must be realised. The stakeholders also advised the federal government to set up a committee that would study and proffer permanent solution to the now frequent clashes between farmers and herdsmen which they say is not only threatening the countryâ€™s ability to meet the food demand of its citizenry but having adverse effect on

efforts to reposition agriculture as a major revenue generation and alternative to oil. The stakeholders drawn from representatives of the Ministry of Agriculture and Rural Development, National Assembly, Seed Entrepreneurs Development Association of Nigeria SEEDAN, Fertilizer Producers Association of Nigeria FEPSAN, Alliance for Green Revolution in Africa AGRA and others made the call at a media briefing and public sensitisation on agriculture-related bills and allied instrument held in Abuja. According to Professor Yemi Akinseye-George (SAN) of the Prof. Yemi Akinseye-George

and Partners, co-convener of the meeting, it is high time the federal government takes seriously the menace of killer headsmen and keeps hope alive in the agricultural sector. â€œWe call on the federal government to urgently address this issue of farmers and herdsmen clashes. The government should investigate to know if there are criminal elements that have infiltrated the herdsmen and deal with them the same way it did to Boko Haram insurgents. â€œGovernment should also set up a committee to study the situation; find out if the killers are genuine herdsmen and come out with effective mechanism

of resolving the issue,â€? he said. George added that government must first make genuine effort in tackling issues of insecurity occasioned by Boko Haram insurgency and that of the farmers/herdsmen clashes in order to provide food security for the populace. While commending the federal government and stakeholders in the sector for current efforts at making agriculture an alternative to oil, Akinseye-George however harped on the imperative of an effective regulatory framework to tackle various irregularities that may hinder the growth and development of agriculture in Nigeria.

T H I S D AY ˾ MONDAY, OCTOBER 9, 2017

MONDAYSPORTS Former Arsenal Star, Parlour, Tips Iwobi for Greatness

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

Commends MTN, Gunners for organising coaching clinic in Lagos Duro Ikhazuagbe A former Arsenal FC star, Ray Parlour, has tipped Super Eagles attacking midfielder, Alex Iwobi to become one of the best footballers of his generation if he adds scoring more goals to his game. Iwobi was the star of the senior Nigerian team at the weekend as his 73rd minute goal against Zambia helped the three-time African champions qualify for a sixth World Cup. Parlour who spoke yesterday at the closing ceremony of the MTN/Arsenal Football Clinic for Coaches and Children at the Teslim Balogun Stadium in Lagos, insisted that Iwobi has a great future ahead of him if he continues to work very hard. “Iwobi is still a young player and in (Arsene) Wenger he is in good hands. He listens and works hard and with time I believe he will become a top player not only for Arsenal but also for Nigeria. “What he needs is to learn to score more goals and contribute more to the defensive side of the game. Iwobi’s movement on and off the ball is excellent, but he still has a lot to learn. He is one of the players to watch at the World Cup,” observed Parlour who was part of Arsenal’s ‘Invincibles’ of the late 1990s and early 2000s. The former midfielder who played alongside another Nigerian, Nwankwo Kanu at Arsenal further rates Iwobi as one of the most promising midfielders in the game. Parlour was in Nigeria for three days for the MTN/Arsenal coaching clinic. He was excited

by the passion shown by the participants for football. While commending MTN for the partnership with Arsenal, he advised aspiring young footballers to always believe in themselves, work hard and listen to their coaches in order to fulfill their potentials. “Its quite nice to see so many kids who are enthusiastic about football here in Nigeria. I remember that I got into the Arsenal Academy when I was just 11 years old. I am excited about this opportunity because it’s a heartwarming reminder of how it all began for me. “My advice to these youngsters is that they must always show belief in their ability. Anybody, who wants to make it in football, must listen to his coache, ask questions when they are lost and keep practising because practice makes perfect,” concludes Parlour. Meanwhile, Alex Iwobi’s father, Chuka Iwobi has expressed his happiness with the performance of his son for the Super Eagles. The senior Iwobi wrote on his personal Facebook timeline yesterday: “Young Alex following in the footsteps of his uncle Jay Jay… Russia World Cup, here we come!!! Iwobi is an uncle to former Super Eagles Captain, Austin Jay Jay Okocha. In apparent show of gratitude to God and also making Nigerians happy, the senior Iwobi concluded: “We have so many reasons to thank the Lord. So proud of you as a father- I am honoured that you played a part in our qualification to the World Cup in Russia.”

Nobody Died in Godswill Akpabio Stadium, Says Commissioner The Akwa Ibom State Commissioner for Information & Strategy, Hon. Charles Udoh, has dismissed media reports that five football fans were feared to have died following a stampede at one of the gates of the Godswill Akpabio International Stadium, Uyo during the Nigeria versus Zambia World Cup qualifier last Saturday. Speaking in Uyo yesterday, the commissioner said reports of death during the World Cup match were far from what transpired at the stadium. “I wish to categorically state that the said report is false and tainted with malice,” observed the Udoh. He however admitted that there was a rush by spectators; who arrived the venue after the match had started, trying to gain entrance into the stadium which led to a few of them sustaining minor injuries. “There were nine people injured during the incident and all of them were taken to the hospital for treatment while no life was lost. The Akwa Ibom State Police Public Relations Officer and the Commissioner

for Health confirmed this,” the commissioner stressed. Udoh insisted that the Godswill Akpabio International Stadium is probably the best maintained sporting facility in Nigeria today and has no history of poor crowd control as posited in the report. “It is on record that Akwa Ibom State is reputed as being; not only a peaceful state but a safe and secure state with credible leadership which is one of the reasons why the state has; in the last 18 months, been listed by the National Bureau of Statistics as the second largest Foreign Direct Investment (FDI) destination in Nigeria. “We are dismayed that such a report; which has a high potency of painting a negative picture of not only Akwa Ibom but Nigeria as country, was published without verifying the facts. It is instructive to note that the Nigeria vs Zambia match was a FIFA organised match and mischievous insinuations as contained in the said report could easily lead to Nigeria being sanctioned,” concludes the commissioner.

L-R: Executive Director, TGI Group, Mr. Onyekachi Onubogu; Super Eagles defender, Shehu Abdullahi, winner of The Big Bull Rice Man-of-the-Match Award; and the Chief Financial Oﬃcer of WACOT Limited, Mr. Sumit Jain, during the presentation of the N1million cheque to the player shortly after Nigeria defeated Zambia 1-0 to qualify for 2018 World Cup in Russia last Saturday in Uyo

Obaseki, Ahmed Congratulate Eagles, Urge Nigeria to Aim for Victory in Russia Adibe Emenyonu in Benin City and Hammed Shittu in Ilorin Edo State Governor, Mr. Godwin Obaseki, has congratulated the Super Eagles for their 1-0 victory over Zambia last Saturday. The governor, who commended the Super Eagles on the exceptional class with which they outsmarted their opponents, urged the victorious team not to rest on their oars even as they prepare for the 2018 World Cup in Russia. According to Obaseki, “The

Super Eagles have shown the true Nigerian spirit. As a people with an uncommon zeal to succeed without minding the daunting challenges, the Nigerian team showed the world that when we are committed to a task, we would do all to succeed. “Nothing can quantify the feeling of being the first African team to qualify for the 2018 World Cup in Russia. It is only right to urge them to go for glory and come back with the trophy. We have shown the World that we are still a country to reckon with when it come to football.”

The governor who added that the Super Eagles are a good representation of the Nigerian spirit, pointed out that the team head to Russia, “we urge them on to victory. They have the best wishes of the people and government of Edo. We are solidly behind them.” Also, the Kwara State Governor, Alhaji Abdulfatah Ahmed, congratulated Eagles for qualifying for the Russia 2018. The governor in a statement signed by his Chief Press Secretary, Alhaji Abdulwahab

Oba, yesterday in Ilorin, said the Super Eagles’ qualification has once more demonstrated the nation’s strength in football, which made Nigeria the first African country to qualify for the FIFA Mundial in Russia. Governor Ahmed commended the players for their doggedness and determination to fly Nigeria’s flag at the Mundial. Ahmed called for immediate commencement of preparations “so that Nigeria won’t just make up the number at the biggest football fiesta but further make Africa proud”.

Ghana’s Korblah Wins Lakowe Anniversary Golf Tourney With the two over par he carded, Achimota Golf Club of Ghana ace, and former Professional Golfers’ Association of Nigeria (PGAN) Order of Merit Leader, Emos Korblah, emerged winner (on sudden death) of the 5th Anniversary Pro-Am of Lakowe Lakes Golf Club, Lagos recently. In the two-day event, which is also in celebration of the country’s independence, another former Order of Merit Leader, and IBB Golf and Country Club-based pro, Andrew Oche Odoh, holed out in second place with +2. He tied in that category with his older brother, Martins Odoh

(+2) of Minna Cantoment Golf Club, and current Order of Merit Leader, Sunday J. Odegha, also of the Minna Cantoment Golf Club. In last year’s edition, Odegha celebrated the country’s 56th independence anniversary in style as he shot a tidy 69, three under par to set a new course record at the club. The 2015 winner of the tourney, and MicCom Golf and Country Club resident professional, Nojeem Sofela, only found space this year in the fifth position after holing out with +4. In the 2017 Club Mixed-Single Match-Play, which was part of

the two-day tourney, Ade Ajayi, emerged the club champion, and was followed by David Maji, Davis Edwards and Hwa Yeon Hwang in that order. On the first day of the tourney, Maji was one of the winners of ancillary prizes as he grabbed the longest drive, while Georgia Oboh, got the one for nearest to the pin. With a net score of 128, the quartet of Kabiru Mohammed, Fossberg Piet, Nike Aworanti, Hee Dong Lee, carried the day in the Pro-Am. Golf Director at the club, Campbell Elliot, expressed

happiness at the turnout of participants, saying it was an endorsement of the tourney, as well as its acceptability by the golfing community. On the tourney’s metamorphosis into a two-day affair, he said, “Our objective was to expand the tournament from a one-day event to a two-day event, which over 120 golfers are taking part. We are likely to further expand it to a four-day Pro-Am tournament in future, with the participation of some of the best players from within Nigeria, and the West and East African sub-regions.”

17th Gov’s Cup Lagos Tennis Serves off in Lagos Today

Femi Solaja

Following the successful completion of the qualifying round matches over the weekend, the main draw of the 2017 edition of the Governor’s Cup Lagos Tennis Championship

gets underway from today at the Lagos Lawn Tennis Club, Onikan, Lagos. The first leg (Futures 4) promises to be real battles for Nigerian players as more of the local players battled their ways from the qualifying series to

the main draw. They are joining Clifford Enosoregbe (1168) who is the highest ranked Nigerian player in the tournament this year. Nigeria’s Henry Atseye qualified for the main draw of the Governor’s Cup after

edging out fellow Nigerian, Christian Paul, in two straight sets of 6-1, 6-0, to move into the thick of action. Other Nigerians in the main draws include; Oyinlomo Quadri, Christopher Bulus and Adetayo Adetunji.

Ëœ Î Ëœ ÍşÍ¸ÍšÍż Ëž T H I S D AY

MONDAYSPORTS

China Open: Nadal Beats Kyrgios to Win Sixth Title of the Season World Number One Rafael Nadal defeated Nick Kyrgios 6-2 6-1 in the China Open final yesterday to win his sixth title of the season. Australian Kyrgios began well but lost his way after he became frustrated by a line call in the first set in Beijing. The temperamental world number 19 continued to let the incident bother him and later received a one-point penalty for continuing to complain. French and US Open winner Nadal won nine games in a row on his way to reclaiming the trophy he won in 2005. The two players looked set for a tight contest as Kyrgios battled to fend off five break points in his opening service game. But having been angered

by a line call, the Australian proceeded to complain to the umpire at two changes of end, which eventually cost him a penalty point at the start of the eighth game. Spaniard Nadal clinched his second break to take the first set, and despite a spirited response from Kyrgios, there was no stopping the 31-year-old. At the Japan Open in Tokyo, David Goffin captured his second ATP title in a week with victory over Adrian Mannarino of France. The Belgian fourth seed, fresh from his victory at the Shenzhen Open, beat the Frenchman 6-3 7-5 in one hour and 24 minutes. Goffin has now moved into the final automatic qualification spot for next monthâ€™s ATP finals in London.

Quadri Braces up for ITTF World with Polish Open Title With few days to the 2017 ITTF World Cup in Liege, Belgium, Aruna Quadri yesterday defied all odds to emerge as menâ€™s singles champion at the ITTF Challenge tagged Polish Open. The Nigerian who has been listed among the top 20 players in the world that will compete at the prestigious ITTF World Cup between October 20 and October 22, defeated giant killing Japanâ€™s Kaii Yoshida 11-7, 11-13 11-8, 6-11, 11-8, 14-12 (4-2) to become the first African to win ITTF title outside the continent. The final match against the Japanese lived up to expectation as both players tested each other strength-for-strength and skillsfor-skills but it was the Nigerian

that laughed last. As the number seed of the tournament, Quadri ensured that his maintain his status with a resouding victory to the chagrin of the Polish fans who queued behind the Japanese throughout the encounter. Also Quadriâ€™s opponent enjoyed support from the home fans as he plies his trade in the Polish league. But this did not deter Quadri from raising his game to cage the Japanese ad smile home with the trophy. Prior to beating the Japanese in the final, Quadri had defeated Kazakhstanâ€™s Kirill Gerassimenko (11-5, 8-11, 11-8, 11-6, 7-11, 11-6) earlier in the semifinal stage of the competition.

First IAAF Bronze Label for West Africa Awarded to Access Bank Lagos City Marathon The International Association of Athletics Federation (IAAF) Road Race Bronze Label to Access Bank Lagos City Marathon makes the Lagos marathon the first full marathon in West Africa to get an IAAF label. The IAAF accreditation which was announced last week ahead of the 3rd edition of the marathon in February 2018, was the outcome of a successful measurement and certification of the marathon course in line with the Federationâ€™s technical standards. This is a landmark achievement for the city of Lagos and Nigeria at large as it marks the first time a West African country has been awarded the IAAF Label. Of the thousands of marathons which hold every year, only 88 are recognised as IAAF Road Label races by this governing body. This development also affirms the marathonâ€™s position among the worldâ€™s top road races such as New York, Boston, Chicago, Tokyo, Dubai, London, Roma, Paris, Berlin, and others. This accreditation validates the fact that the Access Bank Lagos City Marathon is world class. It also shows that Lagos City is

certainly on track to achieving its long-term goal of establishing the city as a tourist destination for the worldâ€™s elite runners.â€? The IAAF Label is also anticipated to impact the quality of runners in the 3rd edition of the marathon. This is no small feat, and is due to measures that have been conscientiously put in place towards the planning and implementation of the marathon year after year. The marathon is not only about promoting sports and tourism in Lagos State but also ensuring a healthy community of people. The IAAF Label was introduced in 2008 as a means of designating the leading road races around the world. As such, the IAAF certification comes with stringent conditions which include but are not limited to international elite field, the race course being closed to vehicular traffic, the route being measured to the standard of the Association of International Marathons and Distance Races (AIMS), use of electronic timing to generate the results, a specified number of doping tests being carried out and equal prize money for the participants.

Nadalâ€Ś wins sixth title of the season

Aruna Quadri with his Poland Open titleâ€Ś yesterday

Ghana Appeals to FIFA for Uganda Rematch Ghana has filed a protest with FIFA after their goalless draw with Uganda saw the Black Stars crash out of the race to qualify for next yearâ€™s World Cup finals. The Black Stars â€“ third in Group E going into the match in Kampala â€“ needed a win to keep their hopes alive of making the finals in Russia.

But they had a stoppage time goal disallowed just before the final whistle. The Ghana Football Association (GFA) said it had written to FIFA about the performance of South African referee Daniel Bennett and his assistants, Eldrick Adelaide and Steve Marie, both of the Seychelles.

â€œThe GFA filed the protest to footballâ€™s world governing body, FIFA, immediately after the match at the Mandela National Stadium in Kampala,â€? it said in a statement.Â â€œMr Bennett and (his) assistants denied Ghana a perfect goal in the 93rd minute with television replays showing that it was a perfect goal.â€?

Ghana had been denied a penalty earlier in the half while several other decisions raised questions about the officials, it added. â€œThe GFA respectfully asked FIFA to consider the possibility of a replay in order to serve the ends of justice without fear or favour,â€? the statement added.

Abdullahi Emerges Winner of â€˜The Big Bull Rice Man-of-the- Matchâ€™ Award

Super Eagles right-back, Shehu Musa, was voted the first winner of â€˜The Big Bull Riceâ€™ Man-ofthe-Match award instituted by TGI Group, the Official Food Partner of the Super Eagles. Tropical General Investments (TGI) Group is an international investment and holding company with diversified interests and investments in Nigeria, Ghana, Republic of Benin, Morocco, UAE, South Africa, India and several other emerging markets Shehu Abdullahi was voted the man-of-the-match for Nigeria in the Super Eagles versus Chipolopolo of Zambia World Cup Qualifier played in Uyo

last Saturday A cheque of N1million was presented to theÂ Nigeria international who plays for AnorthosisÂ club shortly after the match by Mr. Onyekachi Onubogu, Executive Director, TGI Group and Mr. Sumit Jain, Chief Financial Officer, WACOT Limited makers of The Big Bull Rice after Nigeria won the match 1-0 through Alex Iwobiâ€™s goal in the 73rd minute. Congratulating the first recipient of the award, Mr. Onubogu, stated that the award is now to be known asÂ â€˜The Big Bull Rice Man of The Matchâ€™ with a prize of N1 million cash alongside 10 bags of Big Bull

Rice to be donated to a charity of the playerâ€™s choice. â€œWe are making the presentation right here on the pitch at the end of the match because we believe this is something that will continue to motivate the players to perform excellently well and encourage a culture of excellence,â€? Onubogu said. While emphasising the unifying role of soccer in Nigeria, Mr. Onubogu stated that the goal of his conglomerate is to ensure that the Super Eagles does not only qualify for the 2018 World Cup but that the team puts up an unprecedented impressive performance at the competition

in Russia. TGI Group was unveiled as the official food partner of the Super Eagles for the next three years last Friday at a joint press conference which took place at the Godswill Akpabio International Stadium in Uyo by the President of the Nigeria Football Federation (NFF), Amaju Pinnick and other members of his Executive Committee. Responding, the player commending Big Bull Rice for the award and stated that it will further motivate him and other members of the Super Eagles to give their best to the team.

T H I S D AY MONDAY OCTOBER 9 2017

Monday October 9, 2017

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MISSILE PDP to Buhari “We challenge the president to prove us wrong by allowing his allies being caught up in acts of brazen stealing of our commonwealth get punished in accordance with the laws of the land. Anything aside this, we will take as confirmation of our suspicion that the rot is from the very top.” Opposition Peoples Democratic Party (PDP) challenging President Muhammadu Buhari to subject his party members and government oﬃcials involved in the $24 billion NNPC contract award scandal to investigations

ALEXOTTI OUTSIDE THE BOX

alex.otti@thisdaylive.com

Anambra: If It’s Not Broken, Don’t Mend It

redit for the title of today’s piece goes to the erudite and brilliant scholar and former Governor of Central Bank of Nigeria, Professor Charles Chukwuma Soludo, who reechoed the old maxim. Before I get into the business of this intervention, I must admit a few issues in the spirit of full disclosure. The first is that I am not only a card carrying member of the All Progressive Grand Alliance, APGA, I am also a member of the Board of Trustees of the party, which is in power in Anambra State. Secondly, Willie Obiano is a longtime friend and brother and has been, in the last few decades. Thirdly, Willie was a professional colleague, as both of us worked in the banking industry about the same time in the last two decades and a half. While acknowledging these possible areas of conflict, I must quickly add that in the tradition of this column, we are going to deal with the subject matter devoid of bias. History records that there is hardly any successful leader without a vision. In fact, the bible says that people perish for lack of vision. Leaders in the past century like Winston Churchill, John F. Kennedy, and Martin Luther King Jr, and modern day leaders like Lin Kwan Yew, Mohammed bin Rashid Al Maktoum and Nelson Mandela, had one thing in common. They were or are all visionary leaders. They knew where they were going, even if it was not clear to their followers from day one. They set targets for themselves and had clear ideas of how to know when they got there. This is not necessarily the case with Nigeria. Most of our leaders come into governance, unprepared, clueless and without set deliverables, except may be to amass wealth for themselves and their cronies. There is this saying that “if you don’t know where you are going, any road takes you there”. I can confidently say that Anambra state falls into the class of exceptions to this rule. This was taken to a new level with the assumption of office of Chief Willie Maduaburochukwu Obiano as the Executive Governor of the State on March 17, 2014. Obiano comes with excellent antecedents. Amongst several other educational qualifications, he holds a degree in Accounting, an MBA and the Fellowship of the Institute of Chartered Accountants of Nigeria. After a short stint at First Bank of Nigeria PLC, he joined Texaco Nigeria PLC as Accountant. After four promotions in eight years, he became the Chief Internal Auditor of the Company. He was so adept at his job that Fidelity Bank poached him in 1991 to head her Audit department. He received promotions virtually every year culminating in his appointment to the board as Executive Director in 2003. Having attained the retirement age of 55, he bowed out from Fidelity Bank in 2012. As the tenure of Peter Obi was ending, he contested election for the position of the Executive Governor of Anambra State in November 2013, and won. Like Obiano himself would say, he came to the job well prepared. Beyond his education, experience and past performances, he had a clear strategic vision. He articulated his vision in a statement thus “to make Anambra State the first choice investment destination and most preferred location to site new industries”. He followed up with a mission statement as follows “to make Anambra State a socially stable, business friendly environment that would attract both indigenes and foreigners to seek wealth-creating opportunities”. As if these were not enough, he proceeded to set up an economic blue print known as the “Anambra Wheel of Development”. This blue print had four pillars as follows: Agriculture Industrialization Trade and Commerce and Oil and Gas

Obiano Having established the pillars, he went further to identify 12 enablers upon which the pillars would rest. These enablers speak to the legs upon which to anchor the 4 pillars. According to him, the enablers include Security, Education, Healthcare, Finance, Environment, Transportation, Housing and Urban Development, Power generation, Civil and Social infrastructure, Water and Sanitation, Hospitality and tourism, Judiciary, Youth and Sports and Information Technology. By setting out with a strategic direction, it became easier to measure the performance of the administration. I must add that Vision and Strategy formulation are amongst the most important responsibility of leadership. It is something that cannot be done without an in-depth study and understanding of the environment. Once you have your strategy figured out and documented, it becomes easy to steer your team in the direction you want them to go and also measure performance. This sets Obiano apart from a lot of his peers. One more thing: Strategy should be specific to the environment and therefore, fit for purpose. Flowing from these, it is clear that a strategy that works for one state, may not necessarily work for another because all states are not the same. They don’t have the same demographics. I listened to a state governor do a poor imitation of Obiano’s strategy a few years ago. From the way the state is going today, it is clear the whole thing has fallen apart and little mention is made of the strategy in the recent times. Having set the framework, it would not be out of place to look at how far the Obiano administration has gone in implementing the goals it has set for itself in its strategy document in the last 42 months. In the area of agriculture, the government has taken the bull by the horn. Agriculture alone has created close to 400,000 direct jobs and has attracted over $1.2 billion in private investments within the period under review. The government declared a rice revolution which led to the increase in rice production from about 80,000 metric tonnes per annum in 2014 to 322,000 metric tonnes presently. This means that the state is now self-sufficient in rice production as statistics shows that the annual consumption of rice in the state is 300,000 metric tonnes. In the last one year, Anambra has been exporting local vegetables to the UK. Readers will agree that this is not a mean feat, considering the very high standards that must be met before one can export food to the UK. This was done because the state showed more than a passing interest in the production and packaging of the product to ensure that

international standards were met. Still on Agriculture, the world renowned SAB Miller that has a brewery in Onitsha would, henceforth, not buy sorghum, a major input for its products, from outside Anambra. At the instance of the government of Obiano, SAB Miller has entered into agreement with Delfarms, a local sorghum producer, to supply all the Sorghum that it requires for its 2.7 hectolitres brewery in Onitsha. To encourage more people to either go into farming or expand their capacity, Obiano has disbursed about N640m in agricultural loan to over 15,000 farmers in the state. The administration knows very well that the agricultural value chain is not complete if it does not dovetail into industrialisation. So, the government does not just want to encourage primary products, but processing and packaging as added value. It has, therefore, created an enabling environment for local industrial production. In addition, it has also created incentives, concessions and financial support for small and medium scale enterprises and startups to cushion the effect of the harsh economy on genuine entrepreneurs. In response to this, hundreds of millions of private sector investments have found their way into Anambra State for industrial production. Nnewi and Onitsha have been the major beneficiaries of industrial investments. An industrial park is also being built by the government in Nnewi to take advantage of the traditional manufacturing capacity of the town. Trade and Commerce are the natural turf of Anambra people. I doubt if there is any part of Nigeria that an Anambra trader would not be found doing business. The government has also given this sector, a boost as one of its pillars for economic development. To ensure that there is order and deliberate expansion, the government created the Anambra State Market Agency (ASMA), whose primary brief is to construct, rehabilitate and regulate commercial activities in the state. A lot of new markets are springing up and existing ones are receiving face lift. On the Oil and gas pillar, prior to this time, Anambra had not been known as an oil producing state, inspite of the huge proven hydrocarbon deposits in the state. Exploration activities have been on in the state and companies like Orient Petroleum, which started producing oil before the inception of Obiano’s administration are receiving support by way of creating access to the communities where they operate. It is actually the bid to create access to the oil bearing communities that led to the construction of the longest bridge in the South East across the Omambala River. The government has also completed the mapping of identified oil and gas assets in the state for purposes of ease of concessioning. It has also initiated serious engagements with experts to produce electricity from the gas deposits in these communities. Having assessed the state of the 4 pillars, we now turn to the enablers. Considering that there are many of them, we shall discuss just a few. Education is taken quite seriously in Anambra state. Starting from the last administration, the state became one of the best in education. The Obiano government has not only sustained this performance but has improved on it. Taking the NECO for instance, Anambra has continued to improve in its performance each passing year. It recorded 65% success rate in the 2015 academic year. Success here means students who made 5 credits including English Language and Mathematics. In 2016, the rate improved to 72% and this year, it further improved to 75%. In WAEC also, the state has continued to do very well. Anambra’s performance is not unrelated to the government’s holistic approach to education which

emphasizes, student’s welfare, teacher’s motivation and welfare and conducive learning environment. Teachers are particularly key and in Anambra, no one is ever owed salaries unlike some states that I know. Attention has also been paid to healthcare delivery for the state. Renovation and construction of primary health care facilities have been on the front burner of the administration. Several general hospitals have also been modernized while the Teaching Hospital at Odumegwu Ojukwu University, Amaku has benefitted from major structural and infrastructural upgrade. Several roads have been built and commissioned and Awka, the state capital has benefitted from several state of the art well-lit bridges. Anambra has been lucky to have the best road network in the South East and Obiano has ensured that hundreds of kilometres of new roads are added to the stable. Perhaps, one of the greatest feats of the Obiano government is the Anambra Airport City project. The $5b project is being funded and constructed by the Chinese. It is a PPP initiative on the basis of Build-Operate and Transfer (BOT). The investors who are funding the project completely have given a timeline of 3 years for completion and commissioning. This would open Anambra up for further business. For those who know Anambra well, you would agree that a major problem that the state had battled with, over a period of time is security. Violent crimes, armed robbery and kidnapping were synonymous with the state. In fact, some areas in Onitsha were abandoned as criminal gangs took them over. On resumption of office in 2014, Obiano took on security concerns headlong. Areas that were captured by criminals came under heavy bombardment by the security operatives who were empowered with equipment, vehicles, helicopters, and gunboats. Criminals got the message: that there was no safe abode for them in Anambra State. They all fled and today Anambra is reputed to be the safest state in the country. On the management of the Anambra economy, Obiano has demonstrated that he understands how the economy works. Readers would recall that on several occasions in this column, we had advocated that the way out of the recession was to stimulate the economy by massive spending. The Obiano government rolled out a comprehensive stimulus package for the state. While other states were owing salaries, Obiano did not only pay workers, he actually increased salaries and gave workers tax breaks. This helped in empowering consumers which in turn helped in jump-starting production. Anambra is one of the few states that do not owe salaries and probably the only state that increased salaries during recession. From the above assessment, there is no doubt that Governor Obiano has done very well. The first is that he is clear about his vision in the state. He was able to articulate them into measurable parameters. He established a template that would help achieve the objectives. He also has combined skills and experience to ensure flawless execution. The first phase of execution has been excellent in spite of the challenges of the economy which was not envisaged at the formulation stage. Given this kind of scorecard, and given that Anambra people are very discerning, my expectation is that they would renew the mandate of this fine and urbane gentleman to enable him complete the job he started close to four years ago. Like the saying goes, one does not need to change a winning team. All I can say is that all well-meaning citizens of the state should join hands now with their indefatigable Governor, Willie Obiano to lay the foundation for Anambra State of the future. Over to you Anambrarians!

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