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Fidelity Bank Issues $400m Eurobond, Refinances $256m of Maturing Notes Goddy Egene Top Nigerian lender, Fidelity Bank Plc on October 11, 2017, returned to the international capital markets and priced a successful $400 million five-year Eurobond at a 10.50 per cent coupon. The transaction also included the $256 million repurchase of its existing $300 million

Eurobond maturing in May 2018. The transaction, according to the bank, was part of a strategic liability management exercise designed to extend Fidelity Bank’s debt maturity profile and proactively refinance the

maturing 2018 Eurobond. The transaction, regarded as the largest combined new issue and liability management offering ever by a Nigerian issuer, was managed by Citigroup Incorporated, Renaissance Capital and Standard

Bank Group Limited, said a statement from Fidelity Bank yesterday. The bank conducted a comprehensive fiveday roadshow, with its senior management team covering London, Boston and New York as well as

numerous calls with West Coast accounts and other global investors, resulting in an over 200 per cent oversubscription, with investors placing orders of $630 million. The strong investor demand, said the statement,

Intels: NPA Frustrated Attempts to Resolve TSA Logjam… Page 8

allowed the bank to increase the offer size to $400 million whilst achieving a lower coupon rate of 10.50 per cent. The deal achieved a wide market distribution with over 100 investors from the U.K., U.S., Continental Europe, Asia and Africa subscribing to the new issue. Continued on page 8

Tuesday 17 October, 2017 Vol 22. No 8216. Price: N250

www.thisdaylive.com TR

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Shell Executives Charged in Italy over Malabu Deal Agbakoba asks court to restrain Buhari from continuing as oil minister Fire guts part of Kachikwu’s Abuja home, Baru visits him in Lagos Davidson Iriekpen, Ejiofor Alike in Lagos and Chineme Okafor in Abuja with agency report Senior Royal Dutch Shell executives have been charged in Italy for their role in an alleged vast “bribery scheme” that deprived Nigeria of over a billion dollars from the sale of a prolific oil block – Oil

Prospecting Lease (OPL) 245 – by Malabu Oil and Gas Limited to Shell and Italian oil giant, Eni, in 2011, the Milan Public Prosecutor’s Office confirmed last Friday to Global Witness, a nongovernmental organisation fighting corruption. Continued on page 10

27 Plateau Victims Given Mass Burial After Latest Attack by Suspected Herdsmen President condemns incident, orders security forces to arrest situation Seriki Adinoyi in Jos It was another moment of grief yesterday morning in Nkiedonwhro village, Bassa Local Government Area in Plateau State when at least

27 people were massacred in their sleep by gunmen suspected to be cattle herders. The latest is about the third Continued on page 8

GETS STARSTRUCK… NLNG Demands N101bn Judgment WIKE Rivers State Governor, Nyesom Ezenwo Wike (middle), Real Madrid FC star striker, Cristiano Ronaldo (left), and former international, Chief Adokiye Amiesimaka, when Wike visited the Real Madrid training ground in Madrid, Spain, Debt from NIMASA… P a g e 4 2 Nigerian yesterday to discuss the establishment of a Real Madrid aﬃliated football academy in Rivers State

T H I S D AY TUESDAY OCTOBER 17, 2017

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˜ ͯ͵˜ ͺ͸͹͵ ˾ T H I S D AY

PAGE EIGHT

Intels: NPA Frustrated Attempts to Resolve TSA Logjam NPA dismisses allegation, says company refused to remit $13m generated monthly to TSA Eromosele Abiodun The management of Nigeria’s oil and gas logistics giant, Intels Nigeria Limited has accused the present management of the Nigerian Ports Authority (NPA) of deliberately frustrating attempts to address the issues raised by the implementation of the Treasury Single Account (TSA) in the execution of its pilotage agency agreement. Intels, in a statement made available to THISDAY yesterday, said the issues arose because the pilotage agency agreement signed in 2010, did not envisage the TSA, and as such did not factor it in its implementation. Intels and NPA have been at loggerheads, following the decision of the latter to terminate the pilot agency agreement that allowed the oil and gas logistics firm to provide boat monitoring and supervision pilotage services on behalf of NPA for seven years and collect revenue on its behalf. THISDAY had exclusively reported that the Attorney General of the Federation (AGF) and Minister of Justice, Mr. Abubakar Malami (SAN) had written to the Managing Director of NPA, Ms. Hadiza Bala-Usman on September 27, directing her to terminate the pilotage agency agreement with

Intels, saying that the contract was illegal ab initio. Malami in the said letter had stated that the agreement was in contravention of the Nigerian Constitution, especially in view of the implementation of the TSA policy of the government. Based on the directive, Intels which was founded over three decades ago by Mr. Gabriele Volpi, an Italian national who also has Nigerian citizenship, and former Vice-President Atiku Abubakar, stands to lose several millions of dollars in commissions for the pilotage services. But in its reaction to the termination of the agreement on October 10, Intels said the action was preposterous and the consequences highly injurious to the interests of Nigeria. Intels gave NPA seven days from last Wednesday to reconsider the residual critical areas of their relationship and to agree, to the possible extent, on a common solution, failing which it shall head to arbitration. In its statement yesterday, Intels further revealed that it borrowed $1.4 billion (N428.4 billion) from banks to execute the agreement with the understanding that the debt would be offset from monies realised from the pilotage

services paid directly to the banks. Intels spokesman, Bolaji Akinola said a series of meetings, letters and proposals on how to resolve the TSA imbroglio were rebuffed by Bala-Usman. “Deliberate stumbling blocks were placed on the path of resolving the issues and this is indicative of a sinister motive,” Akinola said in Port Harcourt yesterday. Akinola said that on May 5, 2017, Intels sent a letter to NPA proposing the opening of a jointly signed account between the company and NPA on which the boat service revenues would have been directed, but the proposal, like many others, was rebuffed. He also faulted claims by NPA that the contract was terminated based on the advise of the AGF. “At what point are revenues eligible to be paid into the Consolidated Revenue Fund? NPA acting on behalf of the federal government entered into a profit sharing agreement with Intels. 72% of the revenue goes to NPA while 28% is for Intels. “The objective interpretation of the constitution should be that the revenue due to the federation should be the 72 per cent due to NPA,” he said.

Akinola also said that NPA could not fault Intels in the execution of the contract, “which we handled most diligently”. According to him, “Intels faithfully implemented the covenants of the agency agreement and also substantially boosted government revenue. “We took the pilotage service from a revenue stream of a few thousand dollars per month to a multimillion dollars per month service, hence attracting the envy of many,” he pointed out. The company also said the persecution it is currently facing is “rather unfortunate” and will certainly not stand the test of time. The Intels spokesman said those who criticize the company’s operation are “either ignorant or mischievous” about the company’s monumental achievements and value addition to the Nigerian economy. He said the present management of NPA is pandering to the antics of the company’s detractors at the expense of government revenue, huge investments and several jobs, contrary to the position of fairness and objectivity that it should have adopted. “It is clear that there is more

to all these than the TSA issue because all our attempts to resolve the TSA imbroglio hit a brick wall. There was no sincere or genuine desire to address the issue. What was evident was a clear case of giving a dog a bad name to justify hanging it,” he added. However, when contacted a senior source in NPA said Intels was not being honest about the information made to the public. He informed THISDAY that based on the TSA policy, Intels should have complied like all other contractors of NPA but it refused to do so. “The first letter from NPA asking Intels to comply with the TSA policy and pay the revenue collected on our behalf with the Central Bank of Nigeria was written by the immediate past managing director of NPA. Ms. Bala-Usman was appointed a month later, so it is not true that she started this issue. “Also, while we acknowledge that NPA is indebted to Intels, what the company was doing was to hold on to the revenue generated from pilotage agency agreement to offset our indebtedness for an entirely different contract altogether and this is not right,” he disclosed. He explained that the other contract had to do with Intels’

construction of a $2.4 billion Onne 4B complex, an expansion programme of the company’s logistics base in Onne, Rivers State. “But you cannot take the revenue of about $13 million monthly generated from the pilotage agency contract to repay yourself for another contract being handled on behalf of NPA. You can only do so if NPA gives the go-ahead for the debt to be offset in such a manner. “So what we have right now is Intels refusing to remit a dime to the TSA designated account with the Central Bank of Nigeria and holding on to our 72 per cent of $13 million. This is wrong. “Added to that, it was also wrong for Intels to suggest a special account in a commercial bank when the TSA policy expressly instructed that all government revenue should be paid to the central bank,” he said. Continuing, he divulged that NPA had given a guarantee to Intels that it would get paid its commission of 28 per cent as stipulated in the pilotage agreement within seven days of receipt of invoices, but the company refused and held on to the money, “hence non-payment to NPA for eight months”.

per cent customer enrollment on debit cards; and 30 per cent of its customers now using its flagship mobile/internet banking products. Fidelity Bank recently released its audited half-year results which showed a remarkable improvement on all indices with gross earnings increasing by 22 per cent to N86 billion, expenses declining by 2 per cent

to N31 billion and profit before tax (PBT) increasing by 67 per cent to N10 billion. Fidelity Bank was also recently rated the Fourth Best Bank in the Retail Segment in the 2017 KPMG BICSS, the Best Bank in Mobile Banking and the Most Improved Bank in Corporate/Investment Banking at the 2017 Businessday Banking Awards.

FIDELITY BANK ISSUES $400M EUROBOND, REFINANCES $256M OF MATURING NOTES The proceeds from the new Eurobond of US$400 million was used to finance the existing bondholders who subscribed to the tender offer to the tune of $256 million, while the balance (net issuance cost) will be used to support the trade finance business of Fidelity Bank Mr. Nnamdi Okonkwo, Managing Director, Fidelity Bank, said: “We are delighted

to have successfully completed the offering, and believe the transaction has a big positive signaling effect. “It paves the way for other banking institutions, especially the Tier 2 Banks in Nigeria to explore the Eurobond source of funding in the international arena and talk to the global emerging markets investor community as Nigerian market

rebounds and we see bigger demand for strong local stories.” Fidelity Bank’s $400 million issue demonstrated strong trading upon entering the market post pricing, cementing the Eurobond’s robust position. Fidelity is a full-fledged commercial bank operating in Nigeria with over 3.8 million customers who are serviced across its 240 branch offices

and various digital banking channels. The bank is focused on select niche corporate banking sectors, Small and Medium Enterprises (SMEs), and is rapidly implementing a digital based retail banking strategy which has resulted in the following over the last three and a half years: a 93 per cent growth in savings deposits, 50

27 PLATEAU VICTIMS GIVEN MASS BURIAL AFTER LATEST ATTACK BY SUSPECTED HERDSMEN in the wave of attacks on the local government area since the state government imposed an indefinite dusk-to-dawn curfew on the local government council last Friday. By yesterday evening, the remains of the 27 victims of the attacks had been given a mass burial amidst wailing and outpouring of emotions in the village. The incident followed a similar deadly attack in the same local government area on Saturday, leading to the deaths of six persons. Confirming yesterday's incident, the National President of Irigwe Development Association (IDA), Mr. Sunday Abdu indicted the soldiers attached to the Special Task Force (STF), saying the soldiers had gathered the villagers for the suspected herdsmen to kill. He said the soldiers had gathered the victims in a primary school in the village to protect them from incessant attacks in the area, adding that while the soldiers occupied one classroom that they use as their operational base, the women and children occupied the next classroom. “How then did the attackers come and kill the women and children without the soldiers knowing. It is either that the soldiers are conniving with the

attackers to annihilate our people or they ran away and left our people to their fate. “It is even more worrisome that the same local government is under a curfew imposed on it by the state government,” Abdu said. Reacting to latest attack yesterday, President Muhammadu Buhari said he received with deep sadness and regret, news of the killings which have been described as a reprisal attack perpetrated by suspected herdsmen. Buhari, in a statement by his spokesperson, Garba Shehu, said: “This madness has gone too far.” Shehu said the president instructed the military and the police to not only bring the violence to an instant end, but to draw up a plan to ensure that there are no further attacks and reprisals by one group against the other. “President Buhari is devoted to the sanctity of Nigeria’s unity and he encourages Nigerians of all groups to learn to live together in peace and harmony,” Shehu said. The president’s spokesman added that the president commiserated with the governor and people of Plateau State, and with those who lost their loved ones, friends and family. “May God comfort them as

only He can,” Buhari was quoted to have said. Also reacting to the attack, the senator representing Plateau North in the National Assembly, Jonah David Jang said he was sad to hear about the “incessant violent killings going on in Bassa allegedly perpetrated by herdsmen who have become the usual suspects in this kind of coordinated attacks in the state and others in the Middle-Belt”. “The attack on Taagbe village, the failed attack on Nzoruvho village on Saturday, October 14th, 2017, and the most recent one on Nkiedonwhro in the early hours of yesterday (Monday), where more than 20 persons were alleged to have been killed, are condemnable no matter the justification. “Notably, these attacks prove that the method of response adopted by the Plateau State governor is not working especially considering the dusk-to-dawn curfew imposed on Bassa Local Government Area on Friday. “There is therefore the need for the state government to critically reconsider its strategy for the good of our people,” Jang, who is the immediate past governor of the state, said. A former Commissioner for Information in the state, Mr.

Yakubu Dati added that the attack was condemnable, considering that the state governor had taken several measures, including the establishment of the Plateau Peace Agency and deployment of resources to assist the security agents to carry out their duties effectively. “We can only call on the state government to reinvigorate the process that is already on ground,” he said. Also commenting on the massacre, the member representing Jos North/Bassa federal constituency, Mr. Suleiman Kwande called on the federal government to investigate the killings in the primary school while under the watch of the security operatives. Kwande described the attack as unfortunate, particularly now that peace has returned to the state after decades of violence. “The new spate of killings of innocent people in Bassa Local Government Area in recent times is very unfortunate and disheartening. The natives of the locality in the last few weeks have suffered unprovoked attacks that resulted in the killing of innocent people. “I call on the federal government to set up a committee to investigate the fresh killings

of innocent persons, including children, women, men and the aged in a primary school where they were taking refuge,” he said. However, the Police Public Relation Officer, Mr. Tyopev Terna said he could not comment on the attack, as he had not been briefed by his Divisional Police Officer in Bassa. But the Director General of Plateau Peace Agency, Mr. Joseph Lengman said the state government was slated to hold a security meeting yesterday and would make its stance known after the meeting. When contacted, the military Special Task Force (STF), codenamed Operation Safe Haven, said it would investigate the involvement of soldiers on duty at the Nkiedonwhro when the villagers were attacked. The commander of the task force, Major General Anthony Atolagbe who revealed this when he went for on-the-spot assessment of the school, said the soldiers were sent to the headquarters of the task force for proper investigation on how the attack took place in the village under their watch, especially since a curfew was imposed on the village and there was supposed to be restriction on movement. Meanwhile, after the mass

burial for the victims, the villagers called on the state government to vacate the curfew, as it was needless and had failed to serve its purpose. They also demanded to know how the attackers found their way from the mountains to the village when there was a curfew and movement restriction. THISDAY gathered that Governor Simon Lalong is slated to visit the area today to commiserate with the people.

TOP GAINERS NGN NGN C & I LEASING 0.17 1.95 FIDELITY 0.07 1.47 GSK 1.05 22.05 NAHCO 0.17 3.57 NASCON 0.65 13.85 TOP LOSERS NGN NGN LEARNAFRICA 0.04 0.76 MEDVIEW 0.07 1.52 VITAFOAM 0.12 2.64 CONTINENTAL 0.06 1.38 NEM 0.04 1.33 HPE Nestle Nig Plc ₦1,240.50 Volume: 214.959 million shares Value: N2.73 billion Deals: 4,262 As at 16/10/17 See details on Page 31

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T H I S D AY TUESDAY OCTOBER 17, 2017

˜ ͯ͵˜ ͺ͸͹͵ ˾ T H I S D AY

PAGE TEN

10-year-old Girl Craves Audience with Buhari, Gets Invitation Chiemelie Ezeobi It started as a tall dream for 10-yearold Ayesha Aliyu Gebi from Bauchi State when she wrote a letter to President Muhammadu Buhari, craving audience with him. Credit must be given to the power of social media, as little Aisha’s dream came to pass yesterday when she met with the president. In the nine seconds video shown on Twitter, Ayesha, who was dressed in Ankara material, clutched her now-framed letter, which she presented to the president. Although she has always been a fan of the president, she gave voice to her desire by her penning him a letter stating her wish to meet him personally. Her letter read: “Dear President Muhammadu Buhari, my name is Ayesha Aliyu Gebi. I am from Bauchi State. I am your biggest fan. “How are you feeling? I heard you are sick. Hope you (are) feeling better? Let me go straight to the point. I wanted to ask you if I can come and see you. “I have always wanted to see

a president face to face. Sorry, I forgot to tell you my age. So I am 10 years old.” Her letter was made public by her uncle, one Hussein Gebi, who tweeting from @dgebis wrote: “My niece wants to see the president @ MBuhari face to face please make her dream come true. Retweet please.” After his tweet on August 29, it soon went viral as many people adhered to his plea and it garnered 535 retweets and 231 likes. Although sceptical about the viability of her request, some Nigerians like Angale Kahleed who pleaded that if her request was granted, she should remind the president how badly his beloved sons and daughters were suffering in Bauchi. Despite the retweets, it was seen as a nearly impossible feat by most until a reply by Bashir Ahmad, the Personal Assistant to the President, New Media, made her wish come true. Tweeting from @BashirAhmad he wrote: “President Muhammadu Buhari has read your niece’s letter. And he says: Invite Ayesha to

President Muhammadu Buhari (centre), with 12-year-old Nicole Benson from Lagos State, three-year-old Maya Jammal from the Federal Capital Territory, Abuja, and 10-yearold Ayesha Aliyu Gebi from Bauchi State, when he received in audience three young enthusiasts in the State House, Abuja… yesterday come and see me. Are we down for tomorrow?” To which her uncle replied: “Kudos to our listening president. Its (sic) surely gonna be a dream come true for Ayesha tomorrow. A girl’s dream will come true tomorrow.

Kudos to Mr President @MBuhari long live Baba.” Her father, Ibrahim Aliyu who said they were counting down until the meeting wrote: “Today my daughter Ayesha’s dream of meeting @MBuhari comes true.

May the dreams of every child in this country come true, Amen.” Also joining the celebration, another of her uncles tweeting from @Segalinks wrote: “Congratulations to my beautiful and cerebral niece, who scribbled her way intelligently

recourse to the board. But in the suit filed pursuant to Order 3 Rule 1, 6 and 9 of the Federal High Court Civil Procedure Rules and Sections q(1) and (2), 138 and 147(2) of the 1999 Constitution, Agbakoba asked the court to determine whether, by virtue of Section 138 of the Constitution which disqualifies the president from holding any other executive office or paid employment, he can simultaneously serve as Minister of Petroleum? He argued that on the basis of Section 138 of the 1999 Constitution disqualifying the president from taking any paid employment or holding an executive office of Minister of Petroleum Resources, he cannot hold office as Minister of Petroleum Resources. In the case which has the Attorney General of Federation (AGF) as a defendant, the senior advocated also contended that there was no time Buhari’s appointment as Minister of Petroleum Resources was confirmed by the Senate of the National Assembly as stipulated under Section 147(2) of the Constitution. The affidavit supporting his claim stated that the determination of the questions in the claim was of vital national importance, in view of the governance chaos at NNPC. “By virtue of Section 138 of the 1999 Constitution of the Federal Republic of Nigeria (1999 Constitution), which disqualifies the President of Nigeria from holding any other executive office or paid employment, can the Nigerian President simultaneously serve as a Minister of Petroleum Resources, which is an executive office? “By virtue of Section 147(2) of the 1999 Constitution, if the President is not disqualified, can the President hold the office of Minister of Petroleum Resources, without confirmation by the Senate of the National Assembly?” he asked. At the risk of being accused of not having locus standi, Agbakoba stated that he is a taxpayer, voter and lawyer with over 40 years experience in legal practice. He equally stated that he is involved in advocacy for democracy, rule of law and constitutionalism.

The human rights lawyer said he was the president of the Civil Liberties Organisations (CLO), Convener of United Action for Democracy and senior counsel for Human Rights Law Service (HURILAWS) who was on many occasions detained under Decree 2 for his advocacy for democracy, constitutionalism and the rule of law in the country. He wants the court to determine whether, by virtue of Section 138 of the constitution, which disqualifies the president from holding any other executive office or paid employment, he can simultaneously serve as Minister of Petroleum? He said he was greatly concerned about the recent management crisis in NNPC, particularly the disagreements between Kachikwu and Baru, over the administration of NNPC. He stated that the governance crisis in NNPC could not have occurred if the president was not also the Minister of Petroleum Resources. The human rights lawyer stated that since NNPC provides up to 90 per cent of the revenue accruing to Nigeria, he was worried that the crisis in the company will greatly reduce Nigeria’s revenue generating capacity and will affect revenue distributable to federal, states and local governments in the country and this, according to him, will gravely affect development nationwide and drastically impact on him and other Nigerians. This was the second suit filed by Agbakoba in relation to NNPC in recent weeks. He went to court a few weeks ago to ask for the dissolution of the corporation’s board on the grounds that there is no South-east representation on the board in compliance with the Constitution and Federal Character Commission Act.

into the heart of the Greats. Enjoy each passing day.” Immediately the invitation was extended by the presidency to Ayesha, trust Nigerians to inundate her with requests to present to the president on their behalf. However, one Badru Rafiu expressed his displeasure at his perceived discrimination against the elderly. Inferring that the little girl was granted audience because she is a child, he said: “@BashirAhmad I made similar requests to @akandeoj but up to now no response. I think older people are stigmatised and discriminated against at the villa.” With the invitation to Ayesha, are we going to see more kids writing letters to the presidency or their governors requesting for audience? Certainly yes, as Nigerians are known to jump quickly on the bandwagon. But will they get the same result? Only time will tell. Many like Abdulkadir Wanka shared the same thinking when he wrote: “Only God knows how many letters will come after this. I trust my Nigerians.”

SHELL EXECUTIVES CHARGED IN ITALY OVER MALABU DEAL Officials facing trial include Malcolm Brinded, the second most powerful person in the company when the deal was struck. Others charged are Peter Robinson, former vice president for Shell’s sub-Saharan Africa operations and Guy Colegate and John Copleston, former Shell employees and ex-MI6 agents as well as the company itself, also facing bribery charges alongside the individuals. News of the charges broke yesterday just as human rights lawyer and activists, Mr. Olisa Agbakoba (SAN) dragged President Muhammadu Buhari before the Federal High Court in Abuja, asking the court to restrain him from continuing to hold the office of Minister of Petroleum Resources while in office as President of Nigeria. Commenting on the charges against the Shell officials, Olanrewaju Suraju of Human and Environmental Development Agenda of Nigeria, said: “These charges are a clear signal that it is no longer business as usual for oil companies in Nigeria. It’s now time for the Dutch and British authorities to follow Italy’s lead and hold their biggest company to account.” In 2011, Shell and Eni paid $1.1 billion for OPL 245, an oil block located in deep waters offshore Nigeria, allegedly knowing that the money would go to Malabu Oil and Gas owned by a former Minister of Petroleum Resources, Dan Etete, who had been convicted for money laundering in France. Etete was accused of awarding himself the block while in office under former military head of state, Gen. Sani Abacha. The historic decision follows a dramatic U-turn in which it admitted that it knew its billion dollar payment would go to Etete, in exchange for OPL 245. “This could be the biggest corporate bribery trial in history, and a watershed moment for the oil industry. The top brass of the UK’s largest company is in the dock after it finally admitted dealing with a convicted money launderer. “There can be no clearer sign that wholesale change is needed. Shell must first apologise to the

Nigerian people, then take clear steps to reassure investors and the broader public that this won’t happen again,” said Barnaby Pace of Global Witness. In April, Global Witness and Finance Uncovered revealed that Shell executives knew that the $1.1 billion they paid for OPL 245 would go to Etete and was likely to be used in a vast bribery scheme. For years, Shell had claimed that it only paid the Nigerian Government. But after the Global Witness investigations, Shell shifted its position and acknowledged it had dealt with Etete through his front company, Malabu. In December, the Milan Public Prosecutor alleged that $520 million from the deal was converted into cash and intended to be paid to former President Goodluck Jonathan, members of the government and other Nigerian government officials. Now, Italian authorities have brought bribery charges against Malcolm Brinded, then Head of Upstream, alongside three others. According to the Shell Foundation, Brinded has stepped down from his role as Chairman of the Board of Trustees due to the legal action in Italy. Brinded remains a trustee of the foundation as well as retained positions as Chair of Engineering UK and President of the Energy Institute. In September 2017, BHP Billiton announced that Malcolm Brinded would not return to the BHP Billiton board due to judicial inquiries over the OPL 245 deal. In 2002, Brinded was awarded the CBE for services to the U.K. oil and gas industry. These individual charges are in addition to existing charges brought against Shell, Eni, the Italian company’s CEO, former CEO and Chief Operations Officer, middlemen and several Nigerian officials. “Shell’s current CEO, Ben van Beurden has described the emails we leaked as ‘pub talk’, but most pub chats don’t end up in criminal proceedings. “Mr. van Beurden has had four years as CEO to address a scandal that now threatens to engulf his company but has done next to nothing. He should draw a line under the case by admitting the

company’s guilt, removing Mr. Brinded from his position, and setting out his plan for overhauling the company’s anti-bribery efforts for the future,” said Pace. “These charges are a clear signal that it is no longer business as usual for oil companies in Nigeria. It’s now time for the Dutch and British authorities to follow Italy’s lead and hold their biggest company to account,” added Suraju. OPL 245 holds significant discovered hydrocarbon reserves and will increase Shell’s reserves by a third. Two oil and gas discoveries have been made on the block. Etan and Zabazaba were discovered in 2005 and 2006 respectively. Eni plans to develop the Etan and Zabazaba fields in phases with subsea wells tied back to a leased floating production storage and offloading (FPSO) vessel.

Agbakoba Heads to Court Meanwhile, human rights lawyer and activists, Mr. Agbakoba (SAN) yesterday dragged President Buhari before the Federal High Court in Abuja, asking the court to restrain him from continuing to hold the office of Minister of Petroleum Resources while still in office as President of Nigeria. Agbakoba’s lawsuit was instituted two weeks ago after a memo written by the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu to the president came to light. In the memo, which was leaked on social media, the minister had accused the Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru of keeping the NNPC board of directors which Kachikwu chairs in the dark in the award of contracts to the tune of $25 billion. Among other issues, Kachikwu also alleged that the board was not carried along in the recent appointment of senior NNPC executives. In response to the memo, Baru dismissed the allegations on the contract awards, saying due process was followed and the president granted the approvals to the contracts, but he was silent on the appointments without

Fire Incident in Minister’s Home In another incident, a part of the residence of Kachikwu located within the highbrow Asokoro district of Abuja was on Sunday evening burnt by a fire that was ignited by an electrical surge through two air conditioners and a television set in his bedroom.

It was gathered that first responders and security personnel who were around at the time of the incident were able to put out the fire. Sources close to the minister said no casualty or huge losses were recorded from the fire outbreak, but extensive damage was caused to the minister’s room due to the fire. Kachikwu was in Lagos when the incident occurred, but a source said: “Yes, a part of the minister’s residence was burnt on Sunday. It was as a result of an electrical fault in a part of the building, but he was not at home when this happened, so no casualty whatsoever. “Some mobile police officers and first responders were able to put out the fire. But the most important thing was that it was not serious because it only affected a part of the building. “The presence of the police post close to the estate where he lives was also instrumental,” the source volunteered. When THISDAY tried to visit Kachikwu’s residence, the presence of armed mobile security officers along the road leading into the estate where the minister’s house is located made it quite difficult to assess the extent of the damage to the building. However, upon hearing of the incident, the NNPC GMD was said to have visited the minister’s home yesterday to commiserate with him. Upon hearing that Kachikwu was still in Lagos, Baru flew to Nigeria’s commercial capital to see the minister at his Ikoyi residence. But THISDAY gathered that when Baru arrived Kachikwu’s home in a long motorcade at 6.02 p.m., Kachikwu was not at home. It was learnt that on reaching Kachikwu’s residence, the NNPC boss and his aides went inside the premises with a convoy of three vehicles, while seven other vehicles in the motorcade waited outside. Investigation, however, revealed that the NNPC boss and his entourage met the minister’s absence and left at 6.07 p.m. One of the minister’s domestic aides, who spoke off the record, told THISDAY that the minister had left his Lagos home earlier in the day to an unknown destination.

T H I S D AY TUESDAY OCTOBER 17, 2017

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COMMENT

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

THE BENEFICIARIES OF QUALITY EDUCATION Old students owe a duty to give back to the institutions which nurtured them, writes Akinwunmi Ambode

our annual dinner serves as family get-together for all Old Students of Government College Ughelli. I am a product of Government College Warri and just like you, I was nurtured in the doctrine of unity as a strategic tool for national development. In addition, we are beneficiaries of best quality education that could be offered at that time. Today, we can look back with pride because whatever we have achieved today could be attributed to the solid foundation and exposure we were given by committed, passionate and dedicated teachers within a conducive learning environment. More significantly is the pan-Nigerian and detribalised spirit that was inculcated in us by the system. I commend your past efforts that have greatly impacted on the present status of the school and your desire to ensure that it stands out among equals in the comity of state-owned Government Colleges across the nation. I strongly believe that we owe it a duty to give back to the institution which contributed to the success that we have achieved in life. This is the whole essence of Old Students Associations, apart from providing a platform to reconnect, network and share experiences. It is common knowledge that as a result of dwindling resources and competing needs, government is increasingly finding it challenging to provide all that is required in public schools without support.

TODAY, WE CAN LOOK BACK WITH PRIDE BECAUSE WHATEVER WE HAVE ACHIEVED TODAY COULD BE ATTRIBUTED TO THE SOLID FOUNDATION AND EXPOSURE WE WERE GIVEN BY COMMITTED, PASSIONATE AND DEDICATED TEACHERS WITHIN A CONDUCIVE LEARNING ENVIRONMENT

It has therefore become expedient for Old Students Associations to increase their commitment to their alma mater particularly in the area of infrastructure development and upgrading. One other area we need to direct our attention, which the theme of this dinner is focusing on, is the effective integration of Information, Communication, (and) Technology (ICT) in our educational system. This is extremely important if we desire to raise a generation that can hold their space in the rapidly changing and competitive global system driven by knowledge and technology. In Lagos State, technology education is an integral part of our Smart City Project. About a year ago, we unveiled the Code Lagos Initiative, which is aimed at teaching computer programming to students in Lagos State. Under this initiative we have a target to make coding communication accessible to one million students in the state by 2019. This is just one of the initiatives we are introducing in our school system, to position young people to take advantage of local and global opportunities in the 21st century. On a final note, I urge you to take advantage of this opportunity to experience the emerging new face of Lagos, which is currently ranked as the 5th largest economy in Africa. Excerpts of speech delivered by Ambode, Governor of Lagos State, at the 6th Annual National Dinner of Government College Ughelli Old Boys Association

BUHARI, KACHIKWU AND THE EXECUTIVE ORDERS Audu Adanyi urges President Buhari to take charge of his administration

hile President Muhammadu Buhari was away in London attending to his health challenge, his deputy who became Acting President, Prof. Yemi Osinbnjo, issued three Executive Orders meant to address certain ills observable in the way we run our system. The orders were meant to address extreme slowness, outright lethargy, unresponsiveness, lack of a sense of urgency in the way we conduct governmental business in the country, the stumbling blocks we have mischievously or callously erected to slow down the advance of government work and the opaqueness in the running of some of our very sensitive institutions. It looks like upon his return, the contents of those orders have not been brought to the attention of the president by his aides, which is why he seems to be carrying on completely oblivious of the fine points of those orders. Why is one making the above remarks? I believe that if Buhari were aware of the essential ingredients of those executive laws or regulations, the incidence of the Minister of State, Petroleum Resources, Dr. Ibe Kachikwu’s famous memo to him, which has shaken this nation to its very foundation, would not have taken place at all. Here is a memo that was written on August 30 and delivered same day to the president’s office. I do not know whether the communication was received and stamped in the president’s confidential registry as is the best practice with the civil service or any other type of bureaucracy in the modern world, or whether it was hand-delivered to the president himself due to its sensitivity. But whatever was the case, what has now come to light is that the president never acknowledged it; he never seems to have digested its content, for if he did,

he probably would have realised the significance and sensitivity of the issues raised therein by Kachikwu and acted with some sense of responsibility and urgency and, above all, he never did anything about the issues contended in the memo. He just left matters lie like that, leaving Kachikwu in the lurch, in a state of suspended animation not knowing whether his memo reached him or not and whether something was being done about it or not. Some of the issues canvassed in the Kachikwu memo are some of the very issues that propelled the president to power in the 2015 presidential election in which he trounced a powerful sitting president. The issues are those of transparency, accountability and openness which the president says he holds very dear. Anywhere such virtues to which he says he values so much seem to be in short supply, one would expect that the president’s sense of righteous indignation would be aroused and he will act with dispatch to restore those virtues to the necessary sector. Yet in the matter of Ibe Kachikwu versus Maikanti Baru and the cabal, the president was curiously lethargic. One of Osinbajo’s memos frowns seriously against such behaviour by a public servant, least of all from a stakeholder like Mr. President. It even threatens a serious sanction against a public officer who acts like that. If the president were not the president, he, surely, would have been one of the first noticeable violators of Osinbajo’s orders and liable to serious reprimands and other graver sanctions. But he is Mr. President and who can bell the cat? That was the plaintive cry of the president of the Rats Redemption Council. It is quite unfortunate that in the eyes of many Nigerians today, Buhari is held as a fan, or possibly soul mate of the chichidodo bird. This is a legendry

flying animal that says he hates excreta with every ounce of distaste in his being. But know the chichidodo bird’s favourite meal is maggots. And maggots grow best in excreta. Buhari says he is an apostle of anti-corruption, a preacher of openness, transparency and accountability and due process. And when the absence of these principles in a place as sensitive as the oil and gas sector was brought to his attention, it proved too much of an acid test for him. He lacked the will to act. He prevaricated. He vacillated. He pretended not to have noticed what Kachikwu was highlighting. He tried to look the other way, hoping that the storm in the tea cup will fizzle away unnoticed by the public whose every gaze seems focused on every of his moves. He did everything and did nothing until fate caught up with him and dealt him a very kind blow in form of the leak of the memo and he was not roused to action as dithering any further will tear what remains of severely battered integrity to shreds and will stand naked in the market place. Someone who was a former Buhariphile who has now become a Buhari doubter a few days ago described Buhari’s government as a perennial fledgling one. His government will continue to be fledgling and not firm on its feet if Buhari does not learn to begin to take charge. His response time to raging issues of the day is appalling. He is too slow to things as if he has the power to command the world to wait for him. But the world won’t wait for him. The people who wait for his leadership will not wait for him either. We have been tormented enough to become impatient. Besides, he seems too aloof, too patrician and too imperial for a country that has become so divided, again due largely to his actions and non-actions. He is also too trusting a man in a country where so many are

perfidious and can betray anyone at the drop of a hat. He has also left too much in the hands of some narrow minded aides who seem to be out for their interests and not those of Buhari and the nation he leads. Rather than pretend that there is no big deal in what Kachikwu has revealed about the messy in the NNPC under Baru because accepting so will amount to some form of self-indictment, Kachikwu’s courageous stance that he has had enough and would not like to accept any more rubbish should serve as a rude awakening to him about the feelings of many Nigerians about his weak and uninspiring leadership. People like Kachikwu who had a flourishing career where he was were obviously lured to come back home and give of their abilities and experience most certainly by the promise of integrity which Buhari wore like a turban. It must be extremely distressing to the likes of Kachikwu that Buhari is now behaving like the chichidodo bird, saying that he hates malfeasance to his bone marrow but tolerating shady deals being perpetrated right under his nose. Buhari must realise that his leadership is being put to a severe test. And as we approach 2019, he and his party, the APC, will not have a smooth ride to power as they did in 2015 when they bandied Buhari’s so-called integrity as a banner that can conjure light to be and pronto light will be. This time around they will be judged by the promises they made us and how much of it they have fulfilled. He should therefore see Ibe Kachikwu not as the man who embarrassed him and his government but as the man who gave him the much needed jolt to realise that he was deviating from the course and that he needs to repair back to that course. Audu Adanyi wrote from Adikpo, Benue State

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EDITORIAL POLICE AND RISING CRIME RATES

The federal government should investigate the allegations against the officers and men of the force and weed out the bad eggs

ven before the ascendancy of the â€œemberâ€? months, violent crimes had been on a geometric rise in the country with kidnappers, armed robbers and other bandits maiming and killing innocent citizens at will. In this rising orgy of violence, the police appear overwhelmed. In Edo and Rivers States, for instance, people and whole communities have, in recent times, been target of attacks. Not only have the police failed to rein in the harbingers of violence, its senior ofďŹ cers and men are being accused of complicity in heinous crimes that they are paid to prevent or apprehend. The charge of complicity would probably have been dismissed as frivolous if not for the fact that some of them are coming from those who have constitutional responsibility to oversight the police. Even as the Police Service Commission (PSC), the body responsible for the regulation of the police service, announced recently that it was investigating some state command police commissioners for alleged complicity in crimes, THE ONUS IS ON the Inspector General PRESIDENT BUHARI TO of Police, Mr Ibrahim INTERVENE BY CALLING Idris, who exercises FOR AN INVESTIGATION operational control OF THESE MULTIPLE over the force, is not ALLEGATIONS AGAINST known to have done THE OFFICERS AND MEN anything about the OF THE FORCE indictment of his men. In fact, he is himself facing sundry criminal allegations, including one from a serving senator. This is unfortunate because at the root of the endemic violent crimes in the country is an obvious recourse to self-help by citizens. Today, many Nigerians feel challenged by the abysmal failure of the police and other security agencies, saddled with the responsibility of securing their lives and property, to effectively discharge their mandate. Meanwhile, the increasing loss of conďŹ dence in the ability of the police to secure the civil populace would only be worsened by the public perception of ofďŹ cers and men as â€œof-

Letters to the Editor

ďŹ cialâ€? criminals. However, what has become even more worrisome is that the comportment of IGP Idris and a couple of controversies that have inundated his tenure do not give hope that things would change for the better. Not only is there so much indiscipline under him such that the Edo State Police Commissioner, Mr Haliru Gwandu Abubakar would disregard a letter from the Police Service Commission posting him out of the state, recent allegations of corruption and nepotism levied against him have created a huge integrity deďŹ cit.

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ccused of embezzlement of proceeds of security services provided to oil and sundry companies by the police as well as collecting bribes from ofďŹ cers for posting, Mr. Idris only counter-accused Senator Isah Misau of irregular discharge from the force. And rather than institute an enquiry into the grave allegations, the PSC denied that its oversight included the power to discipline the IGP. Next the Attorney-General of the federation and Minister of Justice, Abubakar Malami, without any investigation known to the public, charged Idrisâ€™ accuser, Misau, to court for spreading falsehood against a public ofďŹ cer. However, no cases depict the level to which the police as an institution have degenerated more than that of Edo and Rivers States. In Edo, the commissioner who ought to have left the states, having been posted out, is acting as though above the law. And in Rivers, Governor Nyesom Wike recently accused the commander and men of the Special Anti-Robbery Squad (SARS) of aiding and abetting kidnapping and other sundry crimes in the state, while exhibiting some video and documentary evidence to back his claims. Yet, the federal government has refused to intervene on these grave situations that could only worsen public cynicism and further erode the conďŹ dence of Nigerians in the police. Therefore, the onus is now on President Muhammadu Buhari to intervene by calling for an investigation of these multiple allegations against the ofďŹ cers and men of the force. That is the only way to rid the police of bad eggs and restore the conďŹ dence of Nigerians in the force.

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

WHAT FUTURE FOR OUR CHILDREN?

ne of the most distinguished, yet unsung nationalist who remains an inspiration to Nigeriaâ€™s youths in their educational development was the Efik-born Professor Eyo Ita (of blessed memory). Returning to Nigeria in 1933 after two mastersâ€™ degrees and a doctorate in Philosophy, the educationist saw to the birth of the Nigerian Youth Movement (NYM) in 1934.The matching mandate was on the palm philosophy with the five fingers of health, economy, beauty, knowledge, patriotism and religion. So profound and influential the NYM became that in March of that same year the LYM was launched with Dr. J.C.Vaughan as the president. Other members such Ernest Ikoli, Samuel Akinsanya and H.O.Davies became the moving spirit. Its patriotic aim and cardinal objectives included seeking inter-tribal harmony, nationalism and selfless service. In fact, soon after its coming into being it saw to the training of the junior cadre of doctors, engineers and teachers in protest against the shoddy educational standard at the then Yaba Higher College. Eventually, it evolved as the catalyst for national cohesion that influenced the return of the great Zik of Africa from Ghana and the increased tempo in the demand for political independence. The rest, as they say is history. But how would these patriots feel, were it possible to bring them back to life to witness the Nigeria of today, 57 years after independence? That is the billion (sorry, the trillion) naira question. Too often, we blame our youths for the escalating wave of crimes

such as armed robbery, kidnapping for ransom, rape and terrorism without asking ourselves if we, as their elders have been there for them, or playing our parts. Do the perpetrators of these heinous crimes appear from Mars or Jupiter? Donâ€™t they have parents, teachers, pastors or Imams? Have the governments (local, state and federal) acted as the father-figure to provide for their welfare and protect them against social and food insecurity as enshrined in Section 14,Sub section 2(b) of the 1999 Constitution,(as amended)? The answers are obvious. Let us for a moment consider the mind-boggling and humungous sums of public funds serially siphoned to feather the nests of members of the political class ever since independence in 1960.Couldnâ€™t that have facilitated in providing quality education, sustainable food security, sound healthcare delivery and the enabling infrastructural environment to provide mass employment for the youths? Indeed, oneâ€™s increasing fear about the nature and texture of the future the current crop of Nigeriaâ€™s political leaders is bequeathing to our rudderless youths is predicated on the prevailing climate of institutional failure of governance. Consider the scary scenario where instilling the fear factor on a hapless, hungry citizenry through flexing of military muscle in a pseudo-democratic dispensation has become the rule of the leadership thumb. Or, how else can we explain the recent controversial Operation Python Dance in the overtly marginalised South-East geo-political zone and the provocative Crocodile Smile version in the more peaceful South-South and South-West axes? What moral lessons are we teaching our children, who have to

grow up daily in a thorny, political jungle peopled by power-poaching hyenas and jackals; where rats and rodents chase the Lion King from the hallowed palace? Yet, there is more to worry about. That a government has to ask its military (whose constitutional function is to protect its territorial integrity) to monitor the social media is simply preposterous! Talk shows on television stations are being closely monitored by the National Broadcasting Commission (NBC) to strangulate the views of the led majority. Perplexing still is that of government demanding details of its citizens on social platforms such as Google, Twitter and Facebook. No one is asking questions about Nigeriaâ€™s sudden withdrawal from some international collaborations and how they affect the future of the youths of this country. These outrageous moves are clearly antithetical to the mores of the United Nationâ€™s Freedom of Expression Law as the outcome of its conference on freedom of information, held at Geneva, Switzerland, March 23â€“April 21, 1948. Also known as access to information (ATI), it took root in 1766 when a Freedom of Information Law was introduced in Sweden-Finland. Since then more than 110 countries (2004- 2011) have adopted such laws affecting about 5.5 billion (2012) inhabitants. The recent monitoring mechanisms also run against the grains of the Freedom of Information Act (FOIA), 2011 which was duly signed into law by the then President Goodluck Jonathan on May 28, 2011. â€œThe underlying philosophy of the act is that public officers are custodians of a public trust on behalf of a population who have a right to know what they do.â€? So, who really is afraid of the peopleâ€™s power?. Ayo Baje, ayobaje@yahoo.co.uk

T H I S D AY ˾ TUESDAY, OCTOBER 17, 2017

POLITICS

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

EXECUTIVE BRIEFING

How Not to Fight Corruption The decision of the Inspector General of Police, Ibrahim Idris to file a suit to stop the Senate from investigating him for alleged corruption does not bode well for the fight against corruption, writes Davidson Iriekpen

lready jittery over how he will face senators over weighty allegations levelled against him by Senator Isa Misau, the Inspector General of Police (IG), Ibrahim Idris, last week rushed to the Federal Capital Territory (FCT) High Court, to secure an order restraining the Senate Committee from investigating him. Idris, in a fundamental rights enforcement suit filed before the court, is seeking a restraining order against the Senate President and the entire Senate from receiving and discussing any report submitted to it by the committee set up to investigate the allegations of corruption against him. Misau, the senator representing Bauchi Central Senatorial District, had recently accused the police chief of corruption, running a ‘bribe for promotion and for special deployment’ scheme, having sexual relations with his subordinates and other weighty accusations. Soon after the accusations were made, the Senate constituted a seven-man ad hoc committee to investigate the allegations. The committee is chaired by Deputy Chief Whip of the Senate, Senator Francis Alimikhena (Edo North). But Idris in an attempt to stop the investigation, is asking the court to stop the committee, saying “Without the senate president having regard to the relevant constitutional requirements in respect of the Senate’s role in investigations of allegations, he in reaction to these frivolous allegations quickly constituted a committee consisting members of the Senate to look into the matter.” Misau, who retired in 2010 as a Deputy Superintendent of Police (DSP) and the police were recently embroiled in a public spat after the lawmaker in an interview, accused Idris of collecting between N10 million and N15 million from police officers for postings as state commissioners or mopol commanders, in addition to him pocketing about N10 billion monthly from the deployment of over 50,000 policemen to oil companies, banks, and private individuals who make regular payments to police authorities. The senator who said he was ever ready to submit documentary evidence to back his various claims of corruption, misappropriation and other unscrupulous activities of the IG, said the police generate an average of N10 billion monthly from the scheme without any penny remitted into the federation account. According to him, aside from huge sums generated from corporate organisations and important personalities who require police protection, the IG, he said, has also formed the habit of attaching policemen to known criminals like drug dealers who can pay for the services of having police orderly. He said more than 50,000 men of the police are being used as “body guards” while the common man on the streets are left without protection. According to him, police under Idris is “a cesspool of corruption, nepotism, indiscipline, favouritism and lowest level of morale that must not be allowed to continue in the interest of the on-going anti-corruption war and there is urgent need to stem the tide of increasing rate of crime and criminality in the country. “Let me give you an example of the so many corruption cases that are taking place. More than 10,000 policemen are working with the oil companies and every month the companies are paying money. Where is the money going? Is the money going into the federal government’s coffers or into some people’s pockets? We have over 10,000 officers working in banks. Are they paying money to the federal government? Who are they paying the money to? Where is the money? We have policemen in thousands working for companies and private individuals. Go to the airports and you will see that people of questionable character have policemen attached to them. Are they paying money to the federal

Misau

government? Why should the federal government train a policeman, give him uniform and gun; and then he is passed to an individual who will not pay anything to the federal government. Is that right under President Muhammadu Buhari’s administration? “Last week an organisation accused the Nigeria Police of bribery amounting to N400billion. Am I the person who said it? “By the United Nations’ standard, one policeman should be for 400 people but in Nigeria, one policeman is to 800 people. Even with that, you will find out that one businessman or oil marketer is having about 30 policemen, thereby depleting the ratio we are already in shortage of. “On the issue of special promotion by the IG and the Police Service Commission (PSC), it is in the open. The rank goes with responsibility and it goes with money because it leads to increase in salary and allowances. “It has even gone worse. The IG is having relationships with two policewomen, who he promoted under special promotion. One of them is Aminat and the other is a DSP. The IG last month got married to that woman but under the police service rules and regulations, you cannot marry a serving officer unless the person retires. He quickly did a secret wedding in Kaduna because the lady was four months pregnant. I am saying all these because of the institution, because we have so many excellent officers who are now demoralised; who are now frustrated because of the activities of the IG. When it comes to appointment of police commissioners, the IG decided to have his own boys who are just Assistant Commissioners of Police. He will give them special promotion to Deputy Commissioner of Police,” Misau added. Since the allegations were made against his person, the IG has not personally responded to them. The only response came from the Force Public Relations Officer, Jimoh Moshood. who did not really address the issues raised by the senator order than attacking his person. Moshood dispelled the senator’s claims and also claimed that the lawmaker deserted the force, and was declared wanted, an allegation, he later recanted. Till date, the IG has not told Nigerians if the thousands of policemen guarding oil companies,

Idris

banks, oil servicing companies and private individuals are for free. All over the federation, Nigerians are aware that these companies and private individuals pay money to police every month, where do these monies go to? Idris, like many of his predecessors, have hidden on the pretext that the police, by virtue of the constitution, are not a revenue generating organisation, an as such, are not revenue generating agencies fleecing the country of billions of naira. This is why many Nigerians are at a loss why the Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practice and Other Related Offences Commission (ICPC) have not invited the IG for interrogation. They wondering why the former Chief of Defence Staff, Alex Badeh, Chief of Air Staff, Amosu are standing trial if not for the same offence. They also wonder why the IG should be allowed to pocket the huge sum of money every month instead of paying same into the federation account or using same to augment the poor funding of the force by the federal government. Idris emerged IG in a controversial circumstance in 2016 following his role in the 2015 general election where he was alleged to have seriously assisted the All Progressives Congress attain power. Since then, he has not relented. On many occasions, Governor Nyesom Wike of Rivers State has accused him of playing politics with security by giving police cover to members of the party in the state. To buttress Misau’s ‘bribe for promotion and for special deployment’, Wike has also accused him of planting the SARS commander, Akin Fakorede, in the state to shield members of the party from prosecution and to destabilise his government. Despite the spate of killings, kidnapping and robbery in the state, the IG has not bothered to redeploy Fakorede and restructure the security architecture of the state. In Edo State, the crime rate has increased based on the allegation that the IG specially wants his man to be redeployed to the state, thereby confirming Misau’s allegations of bribery before posting. Many observers believe that what is happening today in the police is due to lack

of leadership in the force. Most frequently, the federal government chooses to deploy military to assignments constitutionally the functions of the police. Ironically, the same IG who has rushed to court to stop the Senate from investigating him, has filed two separate set of charges against Misau. While the charge borders on forging false documents comprising affidavits and declaration of age he deposed to at the Bauchi State Health Management Board birth certificate and FCT high court and submitting these documents to the Independent National Electoral Commission (INEC) in 2011 and 2014 when he ran for public office, the second charge borders on making false statements that police officers pay N2.5 million to get special promotion and posting and also claiming that N10 billion is being received by Idris from oil companies and banks. Many analysts are wondering why the IG is afraid of investigation? Does his decision to stop his investigation by the Senate not show that he has something to hide? While observers know that his decision to rush to court to stop his investigation is a ploy to stop his appearance before the Senate, they are also wondering if the court has the powers to prevent it from carrying out its constitutional assignment. Another reason why the IG might have gone court is due to the fact that before the case is concluded, he would have retired. This is why some have asked the upper legislative house to proceed with its investigation. It is for this reason that an anti-corruption group, United Global Resolve For Peace, has called on the federal government to commence immediate investigation and prosecution of the IG over the allegations. In a statement issued in Abuja by its Executive Secretary, Mr. Pelumi Olajengbesi, the group said Nigerians have lost total confidence in the police as a result of the ineptitude of its leadership. The group described as “pathetic and quite disheartening” that the Nigeria Police has degenerated in its value and ethics. According to him, “there is an urgent need for the federal government to investigate and prosecute, if necessary, Idris, as there has been an unimaginable scale of corruption in the country’s police organisation since he took over leadership.”

T H I S D AY ˾ TUESDAY, OCTOBER 17, 2017

POLITICS

An Era of Insubordination While the decision of the Group Managing Director of the Nigerian National Petroleum Corporation, Maikanti Baru to sidestep the Minister of State for Petroleum Resources, Ibe Kachikwu and his board in the award of contracts lowers the bar on subordination, other acts of insolence abound in the Muhammadu Buhari administration, Shola Oyeipo writes

n the stormy and ever changing world of politics, President Muhammadu Buhari’s handling of political issues has put the ruling All Progressives Congress (APC) on the spot, leaving it as a party divided against itself, and now an easy prey for the opposition as the 2019 general elections beckon. As the government is buffeted by scandals at every turn, the opposition Peoples Democratic Party will have little to do to de-market APC as series of events happening lately are capable of sending wrong signals to discerning minds. Those who describe the ruling All Progressives Congress (APC) as a party divided against itself are very correct. Series of episodes have played out recently and they are capable of sending very wrong signals to discerning minds. The latest in such series is the ongoing face-off between the Minister of State for Petroleum, Dr. Ibe Kachukwu and the Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Mr. Maikanti Baru. Baru, in a reaction to the allegation by Kachikwu that the commission acted against the principles of due process in award of contracts, later clarified his position by stating that the laws of the commission, “do not require a review or discussion with the Minister of State or the NNPC Board on contractual matters.” Only a few people agreed with him. Others disgareed. NNPC had said said: “From the outset the law and the rules do not require a review or discussion with the Minister of State or the NNPC Board on contractual matters. What is required is the processing and approval of contracts by the NNPC Tenders Board, the President in his executive capacity or as Minister of Petroleum, or the Federal Executive Council (FEC), as the case may be.” Whether Baru is right or not in deciding not to carry the minister of state along will continue to be a debate among experts. However, recent attacks and allegations of corruption within the ranks of the ruling party will continue to arouse suspicion among the public. One day, it is likely to stand against the ruling party. Many believe that what is playing out in the public is obviously a product of the internal wrangling within the ruling party. The Kachikwu-Baru’s feud is not the first of such open disagreements. It probably will not be the last. One will easily recall the Minister of Health, Isaac Adewole faced similar act of insurbodiation with the suspended Executive Secretary of the National Health Insurance Scheme (NHIS), Prof. Usman Yusuf. The health minister had suspended Yusuf to pave way for investigation into some corruption allegations against him, one of which was the procurement of a N58 million SUV without due process, but hardly had the suspension been announced that the House of Representatives asked the minister to reinstate Yusuf within a week. Since the 54 years old Yusuf took over the state-run health insurance provider on July 29, 2016 there have been several allegations of fraud against his leadership. Then the question is, for a government that promises to fight corruption, why would an APC dominated House of Representatives not give room for proper investigation? Apparently relying on his direct relationship with the president who hails from the same Katsina State with him, and some sections of the NHIS law, he, just as Baru, had claimed that only the man who appointed him on a renewable term of five years was capable of questioning his actions or conduct. He said: “By virtue of the NHIS Act, particularly sections 4 and 8 thereof, my appointment and removal from office whether by way of suspension or otherwise is at the

Baru

instance of the President of the Federal Republic of Nigeria.” Though not indicted yet, the committee investigating Yusuf, has received more petitions against him. The presidency, the office of the Head of Service of the Federation, the National Assembly, the Independent Corrupt Practices and Other Related Offences Commission (ICPC) , the Economic and Financial Crimes Commission (EFCC) and several other government agencies are in possession of the petitions. Not many will forget in a hurry when an assistant to the president openly stated that the acting president would not sign the 2017 budget a day after Prof. Yemi Osinbajo said he was ready to sign the budget. It took weeks of back and forth and a statement by Garba Shehu that the president had given his nod before the acting president could sign the appropriation bill into law. Another act of insurbodination has been going on quietly between the Attorney General of the Federation Abubakar Malami, SAN and the Acting Chairman of the Economic and Financial Crimes Commission. But before

Those who describe the ruling All Progressives Congress (APC) as a party divided against itself are very correct

then, the AGF had himself made a statement that appeared to disparage the office of the vice president. However, he quickly issued a statement backing down and accusing the media of mis-interpreting him. Though both Malami and Magu have maintained that nothing was wrong between their offices, their position is however contradicted by realities. At an event in Lagos on Monday, August 26, representating the AGF, Mr. Okoi ObonoObla accused the EFCC and the Independent Corrupt Practices Commission (ICPC) of not co-operating with the ministry in the prosecution of high profile cases. He said 31 pending corruption cases might have been compromised, because the anti-graft agencies have refused to furnish the AGF’s office with the particulars of the cases. Though EFCC’s Head of Legal and Prosecution, Gbolahan Latona, who represented Magu at the event quickly denied the allegation and argued that the commission was working with the AGF, not many agreed with them. According to the National Publicity Secretary, Afenifere, Mr. Yinka Odunakin, these actions, which he tagged “rebellion,” “have serious implications for the polity in the days ahead given the tenuous balance in the country and the specter of uncertainty given the unease in the power room since the Lion King left the “zoo” and the “cub” has been coordinating.” Apart from the aspect of rebellion, there is another important indication that all is not well within the ruling party and also that corruption is still being perpetrated one way or the other. For instance, like the case of the former Governor of the Central Bank of Nigeria (CBN) and Emir of Kano, Alhaji Sanusi Lamido Sanusi, who raised allegations of massive fraud against the then leadership of President Goodluck Jonathan, it would

be out of place to come to a conclusion that Kachukwu didn’t know the implications of the whistle he blew in his letter to the president. There is also the suspicion that rather than pacify aggrieved sections of the country by appointing them to fill vacant positions especially in some of the boards and councils that are yet to be constituted, only cronies are being appointed into these boards. When allegations of corruption were raised against the Chief of Army Staff, Tukur Buratai, he got what Nigerians described as ”official clearance” when issues relating to a $1.5 Dubai mansions allegedly owned by him were raised. Despite outcries that Nigeria’s current Minister of the Interior, Abdulrahman Bello Dambazau be investigated for the roles he played as Chief of Army Staff, the president kept mum. After reluctantly setting up a probe of former Secretary to the Government of the Federation (SGF) Mr. Lawal Babachir and the Director-General of the National Intelligence Agency (NIA), Ayodele Oke, the president has yet to act on the report submitted to him by the vice president. So, when allegation of abuse of process was raised against Baru, he seemed to have enjoyed a pat on the back while the accuser had to shut his mouth. This is fast becoming a brand of the ruling party, to protect its members. Making public the details of what truly transpired would be an advisable way of addressing the matter to prove that the leadership is not involved in any shady deal. But where a government, which claims to be fighting corruption keeps silent over issues such as the Ikoyigate, Baru versus Kachikwu and others, public perception must come to mind, because very easily the people will come to a conclusion that the party is corrupt or encouraging impunity and insubordination.

TUESDAY, OCTOBER 17, 2017 ˾ T H I S D AY

FEATURES

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

A Promise Kept With more widows empowered this month, the Rose of Sharon Foundation is fulfilling its vision of transforming the lives of vulnerable people across the world, writes Solomon Elusoji

A cross section of widows at the empowerment programme in Lagos organised by the Rose of Sharon Foundation...recently

n 2006, Chinwendu Augustine lost her husband in an accident along Oshodi Expressway. The news shook her like the trembling man who passes a hand through a strong current of electricity. “I did not even know I would be alive today,” Augustine said, 11 years after the unfortunate incident that left her an unemployed widow with three kids to support. “It was tough and a very heavy burden; I was left all alone.” However, in 2012, Augustine heard about the Rose of Sharon Foundation (RoSF), a non profit organisation focused on caring for widows and orphans. Quickly, she signed up. That decision changed her life. “The Foundation has really changed my life,” she said. “They wiped off my tears; they gave me interest free loans and sent my children to school.” Augustine’s only daughter just recently passed out from the Michael Okpara University of Agriculture, Umudike, studying Business Management and Agriculture, through a RoSF scholarship. “In fact, anytime I call upon them, they are always there for me,” Augustine added. “I thank God that He used this Foundation to take care of me.” Augustine is not the only widow whose life has been affected by RoSF. Founded by one of the richest women in the world, Folorunso Alakija, in May 2008, the Foundation has empowered hundreds of widows and given scholarships to well over a thousand of their children. As at December 2016, 110 beneficiaries of its scholarship programme had graduated from the university. Augustine, actually, shared her story with THISDAY during the fourth edition of RoSF’s Enterprise

Development Training and Skills Acquisition programme, an initiative organised with the sole aim of empowering widows and

These women, like the proverbial tea bag, have been thrown into the hot water of life. But we believe in the Rose of Sharon Foundation that with little support, emotionally and ﬁnancially, they will thrive, become stronger and achieve their life’s dream. This is what motivates us at the Rose of Sharon Foundation to keep doing what we are doing. We are living witnesses to the transformation in the lives of some of our beneﬁciaries who have been empowered in earlier editions of the programme

orphans for a brighter and better tomorrow. It was held within the premises of Yaba College of Technology on October 4, 2017. “Some of these women who have been widowed have never had to work when their spouses were alive,” Alakija, in her opening speech, said. “They were pampered and taken care of, but on the demise of their husbands, they have had to take up the responsibilities of both parents, to train, feed and support their families. “These women, like the proverbial tea bag, have been thrown into the hot water of life. But we believe in the Rose of Sharon Foundation that with little support, emotionally and financially, they will thrive, become stronger and achieve their life’s dream. “This is what motivates us at the Rose of Sharon Foundation to keep doing what we are doing. We are living witnesses to the transformation in the lives of some of our beneficiaries who have been empowered in earlier editions of the programme. Women, who when they come to us could barely feed themselves, have now become employers of labour and are providing for their children. They have become bold, assertive and their dignities and self-esteems have been restored.” In the last three editions, RoSF has trained and empowered over 800 widows and orphans in various vocations such as: make up artistry, decorations, fashion design, millinery, confectionery, catering, jewel making, accessory manufacturing and tie and dye making. The handiwork of its participants from last year’s training were exhibited during the

Foundation’s Christmas Party for widows and orphans in December, where they made huge sales and most of their products were sold. “We also intend to do the same this year during the party on December 14, 2017,” Alakija said. This year, RoSF has expanded the programme to include its graduates who are awaiting their call up letters for the one-year mandatory NYSC programme and those who are currently unemployed. They’ve also introduced farming in this year’s training because of the huge economic potentials of agric business in Nigeria. “Today, we have about 300 participants who will be undergoing training in one vocation or the other and at the end of their training, they will be empowered to start up their businesses,” Alakija, who was represented at the event by RoSF’s Public Relations Officer, Temitope Olusola, said. The foundation’s empowerment programmes are delivered through seven initiatives: the Rose of Sharon Micro Credit Scheme, the Enterprise Development and Skills Acquisition progamme, the Small and Medium Enterprise, the RoSF Life Support Scheme, the Agric-Business Scheme, the Legal Support Services and the RoSF Shelter programme. Also at the empowerment programme was the First Lady of Lagos State, Mrs. Bolanle Ambode, who commended the RoSF, especially the founder, Alakija, “for all achievement recorded in the past years, in the area of welfare improvement for widows, orphans and persons in need of help.” She noted that “although all levels of

˾ T H I S D AY TUESDAY˜ ͯ͵˜ Ͱͮͯ͵

FEATURES One of the worst things that can happen to the widow is not to have a means of income; and one of the best things that can happen to her, is to have a means of livelihood. When she does not have a means of income, she depends on the generosity of everyone, which invariably makes her even more vulnerable. But when she has a stable means of income, she is better positioned to take charge of her life and fend for her children and other dependants Excited widows at the event

Widows at the event

The representative of the First Lady of Lagos State, Mrs. Dapo-Thomas (middle) with RoSF executives at the empowerent progamme

government try in various ways to make life easier for the people, much room still exists to accommodate external assistance for children without parents, women without

husbands and many others in situations that make them vulnerable. It is this sort of vacuum that the Rose of Sharon Foundation was established to fill and which it has

done with impressive impact, going by the happy stories of all that have benefitted from its enterprise development and skills acquisition programmes, young and old.”

Also, the First Lady, who was represented at the event by the Permanent Secretary of the Ministry of Physical Planning and Urban Development, Mrs. Boladele Dapo-Thomas, specially applauded the skills acquisition programme, noting that the initiative is “commendable because it is about the best thing that can happen to a widow for welfare development. It is about teaching them to fish instead of serving them the cooked fish. “We all know the condition of the average widow in Nigeria. It can be traumatic as it can be difficult. Widowhood here can be a nightmare, a life of isolation, when those unlucky women are exposed to the harsh reality of life. “One of the worst things that can happen to the widow is not to have a means of income; and one of the best things that can happen to her, is to have a means of livelihood. When she does not have a means of income, she depends on the generosity of everyone, which invariably makes her even more vulnerable. But when she has a stable means of income, she is better positioned to take charge of her life and fend for her children and other dependants.” She urged the widows to take advantage of the life-changing opportunity. “Apply your mind to the training, so that at the end of the programme, you can beat your chest as the proud owner of a skill, that can generate stable income for you,” she said, while adding that they can also “take advantage of the various skills acquisition centres of the Lagos State Government closest to you. There are about 17 such centres across the state, teaching various women-friendly skills and professions. You can tell your friends and others who may not be aware of such opportunity. I wish to assure you that the state government will continue to pursue welfare improvement for women.”

IMAGES

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L-R: Director Accrete Petroleum Ltd, Mark Crook; , Managing Director, Accrete Petroleum Ltd, Bukola Oladunmoye; Managing Director, Nigerian Petroleum Development Co. Ltd, Yusuf Matashi and , Deputy/ CEO Petroleum Experts Ltd, Pieris Hadjipieris during the inauguration of Accrete Petroleum Ltd Nigeria in Lagos... recently

L-R: Senior Brand Manager, Heineken, Obabiyi Fagade; Founder, Style House Files & LFDW, Omoyemi Akerele; Assistant Brand Manager, Heineken, Aminah Jagun; Marketing Director, NB Plc, Franco Maria Maggi; and Portfolio Manager International and National Brands, NB Plc, Tokunbo Adodo at the Heineken Lagos Fashion and Design Week in Lagos...recently

L-R: Executive Director, Operations, Stanbic IBTC, Mr Wole Adeniyi; Representative of Lagos State Deputy Governor and Tutor General of Lagos State, Mrs Lola Are-Adegbite; Chief Executive, Stanbic IBTC Bank, Dr Demola Sogunle; and Principal, National Orthopaedic Special School, Igbobi, Lagos, Mrs Veronica Aibinu, at the unveiling of a block of six classrooms donated by Stanbic IBTC to the school in Lagos...recently

L-R: Pro-Chancellor/Chairman, Governing Council, Ajayi Crowther University (ACU), Oyo, Chief Wole Olanipekun, SAN; Oyo State Governor, Senator Abiola Ajimobi; his wife and recipient of honorary Doctor of Science (Public Administration), Mrs. Florence Ajimobi; and Chancellor, ACU, Most Rev. Peter Akinola, during the institution’s 9th convocation ceremony, held in Oyo...recently . Photo: Governor’s Oﬃce

A courtesy visit by the members of the House Ad-hoc Committee on Nigeria/South Korea Friendship Relations to Korea International Cooperation Agency (KOICA) in Abuja...recently

R-L; President, Catholic Bishops Conference of Nigeria (CBCN) and Archbishop of Jos, Most Reverend Ignatius Kaigama; Governor Godwin Obaseki of Edo State; Edo State Deputy Governor, Rt. Hon Philip Shiabu and his wife, Maryann, during the Grand Finale of the ﬁrst ever National Marian Year declared in Nigeria, and 3rd Marian Congress, in Benin City,...recently

L-R: Representative of Lagos State Governor, Mrs. Modele Osunkiyesi; acting Director-General, National Agency for Food and Drug Administration and Control (NAFDAC), Mr. Ademole Mogbojuei; Vice Chairman, Senate Committee on Health, Sen. Clifford Ordia; and Group Lead, Substandard and Falsified Medical Products, World Health Organisation (WHO), Dr. Micheal Depts, at the workshop on detection, prevention, response to substandard and falsified medical products organised by NAFDAC in collobration with WHO, in Lagos...recently ETOP UKUTT

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Quick Takes Shell Donates Equipment to School The Shell Nigeria Gas (SNG) has donated an ultramodern informationa communication technology (ICT) Centre and well-equipped science laboratories to African Church Community Secondary School in Ewupe, a community hosting the companyâ€™s facilities in Ota area of Ogun State. The donation was the second phase of SNGâ€™s intervention in the school to bring it to a competitive standard. The company had in 2016 donated a block of five classrooms, a 12-room stand-alone toilet facility, school water system, upgraded football field, and a rehabilitated 5 blocks of 19 classrooms for shared use by the school and the co-located Ebenezer African Church Primary School in the first phase of the intervention. â€œOur goal is to support government and other relevant agencies to close the gap of educational inequality between pupils of public schools and their counterparts in private schools,â€? Managing Director of SNG, ED Ubong, said at a ceremony marking the completion and handover of the projects to Ogun State government. â€œWe recognise education as the topmost need of the people of our neighboring communities and what we have done is a progression of our longstanding support to the school and to the communities,â€? Ubong added.

TechnoServe Trains Retail Shop Owners

PROMOTING SCIENCE KNOWLEDGE

L-R: Operations Manager, Shell Nigeria Gas (SNG), Mr. Niyi Salami; Ogun State Commissioner for Education, Science and Technology, Mrs. Modupe Mujota; and SNG Managing Director, Mr. Ed Ubong, at the formal handover of science laboratories and ICT centre to African Church Community Secondary School in Ewupe Ota by Shell Nigeria Gas in Ogun State...recently

TCNâ€™s Operational Bottlenecks Funding from World Bank, France Ejiofor Alike The delay by the Transmission Company of Nigeria (TCN) to package transmission projects to meet the eligibility criteria of the multi-lateral donor institutions like the World Bank and the French Development Agency (FDA) has hindered the countryâ€™s access to millions of dollars earmarked by these agencies for power transmission and distribution projects, THISDAY has learnt. THISDAY gathered that as part of their intervention in the

ENERGY countryâ€™s power sector, these multi-lateral donor agencies had required the TCN to package the projects to meet their eligibility criteria for accessing funding. It was, however, learnt that TCN has been very slow in packaging the projects as required by the World Bank. Some power operators, who spoke to THISDAY on the funding challenges facing the countryâ€™s power sector, said at the delay by the TCN had denied the country sizeable

funds from these agencies. â€œThe amazing thing we have here is that multi-lateral donor institutions like the World Bank, the French Development Agency have earmarked millions of dollars, for the transmission and distribution (T&D)space in Nigeria. They require TCN, in particular, to package the projects to meet their eligibility criteria. That is a process that is underway, but it can go faster,â€? one of the operators said â€œThe power sector is experiencing serious liquidity challenges within the power

Hinder

value chain but lots of funds are out there waiting to be accessed if TCN can package projects appropriately to meet the criteria because these people are not Father Christmas. But government bureaucratic bottlenecks have not allowed the country to access these funds,â€? said another operator. Also speaking to THISDAY on the availability of funding from the donor institutions, the President and Chief Executive Officer of GE Nigeria, Dr. LazaContinued on page 22

Kachikwu Tasks Oil Firms to Increase Investment in Exploration, Production Ugo Aliogo The Minister of State for Petroleum, Dr. Ibe Kachikwu, has tasked private investors in the petroleum sector to actively invest in exploration and production of crude oil, by tapping into opportunities available in the sector. Kachikwu, who disclosed this at the 50th anniversary celebration of SAIPEM in Lagos, called on investors to take a cue from the major infrastructural designs, which the administration of President Buhari Muhammadu is currently embarking on in the sector. He stated that the present administration is trying to

ENERGY institute professionalism and policies that would continue to bring development to the Niger-Delta and calm the nerves of those who believe that they have entitlement to the resources of the state. Kachikwu lamented that there is a huge challenge for the economy where much concentration is given to production of crude oil without considering the reserves. He added that in the Gulf States they have moved away from relying on oil to carve new ways of creating wealth for future generations. Continuing, the minister advised SAIPEM to move

away from contracting to exploration and production, while commending them for their training policies which he said are robust. He added: â€œI urge you to take along younger companies that are the foothold of growth who are dependent on you to find their footage in the oil industry. I want SIAPEM to look at what we are doing with refineries, apart from being contracting companies and apart from been able to invest in some of these facilities that are essential for the growth of this country, I am looking forward to SIAPEM to continue to ensure that training policies are robust. More importantly, as we want you to continue the training with

oil producing communities because the realities of the last two years is that unless you are able to manage the oil producing communities, and invest sufficiently in those areas to calm the nerves of people living in those communities, oil production will continue to suffer. We have tried to manage to calm the nerves. You and I have a lot of work to do in the next one and half year.â€? In his remarks, the Managing Director SAIPEM Contracting Nigeria Limited, Guido Dâ€™ Aldisio, expressed delight over the successes that the company has recorded in the past 50 years, stating that the company Continued on page 22

In a bid to assist and increase their financial returns and grow their business, TechnoServe Nigeria, a business organisation, recently organised a workshop for small scale retail shop owners in Abuja on how to horn their marketing and inventory skills. The project aims to increase financial return and growth of 60 Mom and Pop Shops (MPS) in Abuja, by providing business solutions to the challenges they face. According to the Country Director, TechnoServe Nigeria, Mr. Umunna Larry, â€œThe Nigeria programme is geared towards working with 150 shops and we anticipate that 75 per cent will adopt digital business enhancing solutions and at least half will increase their revenues by a minimum of 30 per cent. Larry explained that the Mom and Pop Shop Project is a two-year project that started in October 2015, is in the country to assist small retail shop owners to increase their financial returns and grow their businesses. He said: â€œWe are working with small retailers that allow TechnoServe to create a double impact, increasing employment and livelihoods by improving the shops efficiency and creatingmarket opportunities for products from local small-scale farmers and processors.â€? â€œThis will be achieved by improving the performance of retailers in last mile retail sector, meaning better financial and operations management, better marketing and inventory management.

Egyptâ€™s Agricultural Exports Rise Egyptâ€™s agricultural exports rose 13.9 per cent during the first nine months of 2017, reaching 4.1 million tonnes compared to 3.6 million last year, agriculture ministry spokesman Hamid Abdel Dayim said on Sunday. Egyptâ€™s agricultural exporters have seen a surge in demand since the country floated its currency last November, allowing it to roughly halve in value as part of reforms tied to a three-year $12 billion International Monetary Fund loan agreement. â€œExports of potatoes, grapes and strawberries rose,â€? Dayim said. The export growth comes after a turbulent year for Egyptian produce, with a Hepatitis A scare in North America linked to Egyptian strawberries and a temporary ban on Egyptian fruits and vegetables in Russia, one of Cairoâ€™s major buyers.

â€œThe Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, and I are working together as Mr. President had directed to move forwardâ€?

Minister of State for Petroleum Resources, Dr. Ibe Kachikwu

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BUSINESSWORLD TCN’S OPERATIONAL BOTTLENECKS HINDER FUNDING FROM WORLD BANK, FRANCE

rus Angbazo said if Nigeria did not act fast to access the funds, other countries would exhaust it. “I think this is an area we can help our cause as a country. The team at TCN is doing an honest job trying to make things happen, but they need all the support and encouragement of government, as well the support and encouragement of people like us, and we are ready. We have reached out to them in partnership, but I think together we can all move faster so that we can access this limited pool of fund. If we don’t use it, other countries will use it,” Angbazo said. KACHIKWU TASKS OIL FIRMS TO INCREASE INVESTMENT IN EXPLORATION, PRODUCTION

has been part of the oil and gas business in the country. He also stated as part of the company’s contribution to the economy, they have provided employment opportunities to Nigerians, stressing that despite the crisis in the sector, they have remained an integral part player. Aldisio remarked that as part of the company’s development drives, they have built one of the biggest fabrication yards in River State which he said that they would leverage using the company’s large workforce in order to drive growth in the sector. He added that the company has been involved in onshore and offshore drilling, offshore and onshore construction work, deep water and shallow water projects, building of power plants, building of refineries, and major offshore projects in the past 50 years. “Our strength is mainly our business model, workforce and investments. Our business model is not hire and sack. Our motto for 50 years is that we are here to stay and contribute the economy. We have had challenges, but we continue to grow because of our faith in this country,” he said.

Group Business Editor

Chika Amanze-Nwachuku AgriBusiness/Industry Editor

Jonathan Eze

Comms/e-Business Editor

Emma Okonji

Capital Market Editor

Goddy Egene

Senior Correspondent

Raheem Akingbolu (Advertising) Correspondents

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

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

NEWS

‘Chronic Debts Impinging New Investments in Power Sector’ Chineme Okafor in Abuja A former President of the Nigerian Society of Engineers (NSE), Mr. Mustafa Shehu, has said that new investments into Nigeria’s power sector may not come as soon as expected by the government and stakeholders because of the market’s huge debts. Shehu, explained in a presentation he made at the October Lecture of the NSE in Abuja that the huge debt figures of the market were a setback to potential investors deciding on how and when to put their finances in the sector. At the moment, records indicate the sector’s financial shortfalls comprising underrecoveries from the delay in implementing cost reflective tariffs, as well as gaps in energy remittances of electricity distribution companies (Discos) were over N800 billion. He, however, said that despite the economic potential of the country which supported a good return on investment in the power sector, the poor financial state of the electricity market was a bad signal and a turnoff to investment finances looking for where to reside. Shehu said: “The economic structure of most African countries is weak with a majority of the countries being monoeconomies with low income levels. Appropriate pricing of energy products and services delivered to the public usually makes them unaffordable to most of the population, as such, subsidies are provided by

government for such services which usually turn out to be unsustainable. “Lack of affordable credit in the continent also hampers investment as companies must either source for funds from outside the continent or raise the prices of the service being offered. In Nigeria, the privatisation exercise aimed to improve the expansion and operation of the sector has

not yielded the desired result economically as the distribution companies do not remit payments for energy supplied to them. This sends a very bad signal to prospective investors as there is no business that can thrive and grow if services rendered are not paid for.” In his presentation titled: “Energy situation in Africa: Opportunities and Challenges,” the former NSE boss

listed the problems that have destabilised the growth of the continent’s and particularly Nigeria’s power market, adding that a mix of legislative, social and economic factors have contributed to keep the sector’s productivity very low. “Failure of the Gencos to pay for fuel supply deny fuel suppliers the required funds to maintain their plants and expand their networks, failure

to arrest these situations of Discos failing to pay remittances to the market operator and NBET and Gencos to pay fuel suppliers may also lead to a financial crisis including bank failures considering the volume of cash involved and the exposure of Nigerian banks to the sector. Most of the operators have delinquent credit exposures to banks,” he added

A NEW PRODUCT

L-R Business Development Manager, Yomi Abayomi Adebayo ; Chief Commercial Oﬃcer, Tobi Osibodu; Head, Marketing, Olaolu Onibonoje and Chief Operations Oﬃcer, Jubril Salaudeen all of CitiServe during the launch of CitiServe Orangebox7210, in Lagos…. recently.

Ikeja Electric, Mojec Sign MoU for Supply of over 2,000 Meters Ejiofor Alike Ikeja Electricity Distribution Company and Mojec International Limited have signed a Memorandum of Understanding (MoU) for the supply of over 2,000 Distribution Transformer (DT) meters at a cost of N570 million. Speaking during the recent MoU signing ceremony in Lagos, the Acting Chief Executive Officer of Ikeja Electric, Mr. Anthony Youdeowei said the deal would enable the company to install meters in all the remaining distribution transformers in its network. Youdeowei acknowledged that accountability has been the major bane of Nigeria’s power sector, saying it is necessary for the company to continue to invest and commit resources to improve its capacity to meter consumption patterns correctly and fairly. He stated that the N570 million MoU is a further demonstration of the company’s long term commitment to invest the required sums to ensure there is turnaround experience of its customers. The Ikeja Disco CEO added that the company had recently spent N150 million to upgrade its Ogudu Injection Substation. He assured stakeholders that the company would also intensify efforts to supply prepaid meters to customers, adding that the metering scheme was slowed down in 2017 as a result of the high cost of foreign exchange.

“Our resolve to meter every customer is unwavering and as such, we continue to invest huge sums not only to deliberately strengthen the network but to also sustain our meter roll out plan. Our current strategy of metering commercial points is crucial as it allows us accurately determine the amount of energy consumed on a feeder by feeder basis and after careful consideration, using estimated billing methodology, customers get a more transparent, fair and accurate bill,” he explained. Youdeowei said by partnering Mojec International, the company would achieve total metering of its feeders and distribution transformer and proceed further into other areas of interest. He disclosed that Mojec had already supplied over 1, 200 DT meters out of a total of about 2,000 DT meters signed under the MoU. Youdeowei, who was represented by the company’s Chief Financial Officer, Mrs. Olubunmi Olukoju, commended the power sector regulators for considering penalties and fines for energy theft and other related criminal activities that impact the power sector negatively. “We hope that stronger laws will discourage the wanton attacks on our assets. Progress in these areas is very encouraging even as we continue to contend with other issues like meter bypass, assault on our staff, vandalism of assets, and

the general apathy to pay for energy consumed,” he added. Also speaking, the Managing Director of Mojec, Abdul Chantelle thanked Ikeja Disco for giving her company the opportunity to demonstrate its capability.

She noted that Ikeja Electric has prioritised metering, despite the challenges facing the power sector. According to the Mojec boss, her company is also providing financing, stressing that metering is not a cheap endeavour

but expensive project. She argued that metering is not something the Discos can achieve alone without the participation of the Central Bank of Nigeria (CBN), commercial banks and the federal government.

Obaseki: Edo Farmers to Cultivate 250,000 Hectares of Land in Two Years Adibe Emenyonu in Benin City Governor Godwin Obaseki of Edo State has disclosed that the goal of his administration in the next two years is to ensure that farmers in the State cultivate a minimum of 250,000 hectares of farmland. Obaseki stated this during the 13th Esan Economic Empowerment Workshop, with the theme: “Modernising Agri-business in Esan Land for Economic Empowerment,” organised by the Association of Esan Professionals. He explained that agriculture is at the centre of the economic reconstruction programme of the federal government as well as Edo State government due to the sector’s potential to create millions of jobs. “This initiative is in line with my administration’s commitment to create 200,000 jobs for Edo people, which we promised during our electioneering campaign,” the governor said. He said agriculture is being embraced in Edo State due to

the incentives his administration is providing to make access to land, fertiliser and other inputs easy for farmers. Obaseki further said that his administration has revamped the Edo Fertiliser Plant in Auchi to enable farmers have same type of fertiliser after proper examination of the soil to ensure healthy crop production. According to him, “We have equally revamped the College of Agriculture in the state to train our farmers and help them with the required knowledge to grow healthy agricultural products for export.” Obaseki said the Gelegele Sea Port is another important project that will help in the export of finished agricultural products. He urged the youths to embrace agriculture as his administration is creating the enabling environment for large scale farming, easy access to land and improved seedlings. “Agriculture is now scientifically done and mechanisation will help us compete in the international agricultural

market.” The Minister of Agriculture and Rural Development, Chief Audu Ogbe, congratulated the organisers of the workshop and pledged the support of the federal government for their programme. The Minister, who was represented by the State Director, Federal Ministry of Agriculture and Rural Development, Edo State Office, Omoragbon Wellington, assured that the federal government would support the group in the area of capacity building and supply of processing machines at subsidised rate. The President of the Association of Esan Professionals, Mr. Mathew Egbadon, said the association was established with the sole objective of serving as a non- political platform for the Esan people to contribute their quota to the development of Esan land. He said the association has established Esan Education Trust Fund to assist indigent students in accessing quality education.

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BUSINESSWORLD

ENERGY

Celebrating 57 Years of Epileptic Power Supply With over 80 million Nigerians still lacking access to electricity, the history of Nigeria’s power sector in the past 57 years has been characterised by failed promises and unachievable generation targets. Ejiofor Alike and Chineme Okafor report To best appreciate the evolution of Nigeria’s power sector, a peep through its salient records may not be out of place. Nigeria’s first public electricity utility company, the Nigerian Electricity Supply Company (NESCO) was established in 1929, some 30 years after electricity generation had started in the country back in 1896. After years of operation, NESCO reportedly had to hand over the management of the country’s public electricity utility to the Electric Corporation of Nigeria (ECN), a successor that was established in 1951 to take over its assets and operations. But 11 years after, a new partner for the ECN, the Nigeria Dams Authority (NDA) was established precisely in 1962 to help the country develop and deploy her hydropower potentials. Both ECN and NDA subsequently merged in 1972 to form the National Electric Power Authority (NEPA), which for long had an unchallenged control over public power supply in the country. NEPA later transmuted into the Power Holding Company of Nigeria (PHCN) after 1999 when the government decided to create a holding company for its then imminent unbundling and subsequent privatisation of the sector. In 2005, the Electric Power Sector Reform Act (EPSRA) was enacted by the National Assembly, and that formed the basis for the government’s reform of the sector. Before the EPSRA 2005, Nigeria’s electricity market was governed by a number of legislations which included the Constitution of the Federal Republic of Nigeria; the Electricity Act, Cap 106, Laws of the Federation of Nigeria (LFN) 1990 (as amended) as well as other auxiliary relevant legislations like the National Electric Power Authority Act, Cap 256, LFN 1990 (as amended). The EPSRA 2005, however, put to rest these pieces of legislation, and handed over parts of the sector to private investors, thus leaving the federal ministry of power, which had for years solely managed the sector, with just the task of policy implementation. The job of regulation then shifted to a new regulator – the Nigerian Electricity Regulatory Commission (NERC); 11 distribution companies (Discos) were created and 60 per cent of their shares divested to private investors just as the government concessioned its hydro Gencos and sold its gas Gencos. The government however retained the transmission network. Before the privatisation, reports indicated that out of the 79 generation units that the country had, only 19 were operational and average daily generation peaked at 1,750MW. The government which ran the sector reportedly built no new electric power infrastructure between 1989 and 1999, indicating that the latest generation plant in the country was completed in 1990. Post reform era Following the 2013 hand-over of power assets to private investors, upgrading the capacity of Nigeria’s electricity market to guarantee stability for the country has faced various challenges. Even though the reform was initiated to reposition the sector, it has yet to lead Nigeria out of unstable public electricity supply. Reports from various agencies associated with the sector indicate that up to 60 per cent of the country’s citizens are yet to be connected to the national grid, while the percentage on the grid manages an average 3500MW generated and transmitted daily to the grid. For a country of almost 170 million to still have more than half of its citizens unconnected to the grid and without electricity in 57 years of its formal existence, means that it has done very little to take the right decisions and strategies to close the huge electrification gap. Unrealistic targets After successive Peoples Democratic Party-led administrations failed to realise their power generation targets, President MuhammaduBuhari on assumption of office in 2015, set a target of 10,000MW by 2019. Former President Olusegun Obasanjo’s administration laid the foundation of the power sector reform and set a generation target of 10,000 megawatts by 2007.

But he handed over only generation that was slightly below 3,000 megawatts when his tenure of office ended on May 29, 2007. The late President Umaru Musa Yar’Adua, who took over from Obasanjo, made power generation one of the pillars of his administration’s Seven-Point Agenda. He revised downward the 10,000MW target set by Obasanjo for 2007 to what he thought was a more realistic target of 6,000MW for 2009. Yar’Adua had during his campaign, promised to declare an emergency in the power sector but this promise was not fulfilled before he suffered health challenges that eventually took his life. But by the end of 2009, the then Minister of Power, Dr. Lanre Babalola admitted that only about 3,500 MW of electricity was actually being generated. On assumption of office as acting President, Dr. Goodluck Jonathan had set a target of 5,000MW by December 2011, through his Presidential Task Force on Power, headed by Prof. Bart Nnaji, who later became Minister of Power. However, the target was not met and Nnaji’s successor, Prof. Chinedu Nebo shifted the

The Minister of Power, Works and Housing, Mr. Babatunde Fashola has refrained from setting generation targets like the previous administrations, stressing that what is necessary is incremental power supply

5,000MW target to December 2014 and later January 2015 but it was still unrealisable. But by the time 2015 ended, Nigeria’s generation was around 4,000MW of electricity. In fact, power generation had hit a new peak of 4,502.2 megawatts on December 21, 2012. After this new peak, generation had stabilised at 4,356.9 megawatts of electricity on December 29, 2012. Before these milestones, the country’s power sector had attained a previous peak of 4,454.1 megawatts on December 19, 2012, after an earlier peak of 4,237 megawatts on August 8, 2012. The Minister of Power, Works and Housing, Mr. Babatunde Fashola has refrained from setting generation targets like the previous administrations, stressing that what is necessary is incremental power supply. Since President Buhari took over, power generation has continued to hover around the pre-privatisation levels, after hitting an all-time peak of 5,074MW on February 2, 2016. What happened in 2017? Between October 1, 2016 and October 1, 2017, a lot of developments were recorded in the country’s power sector – both positive and negative. On the negative side was insufficient gas supply to some thermal Gencos especially those of the National Integrated Power Projects (NIPPs), which has remained unresolved. Also, chronic illiquidity, which impacts heavily on capacity expansion, as well as government’s silence on key regulatory and market decisions, have also helped to ensure that the sector achieved a measured progress so far. Financially, the sector is not doing well at all, and the buck-passing that dominated the sector in 2016 has not moved away. The Discos still do not have the capacity to take all that is generated by the Gencos every day, yet they turn around to blame the transmission network for channelling loads to undesirable centres. Also, over this period, operators have struggled with refinancing the cost of acquiring their assets, as well as making critical investments for expansion. Revenue collections in the system have also remained largely poor, while technical and commercial losses are still quite high. The industry has also continued to record huge accident rates with the Nigerian Electricity Management Services Agency (NEMSA) reporting in its half year safety ranking of the industry that 82 persons, including workers and users of electricity died from electrocution between January and July 2017. The NIPP which was set up in 2004 as an integral part of efforts to bridge the country’s power shortages has also had its share of the

sector’s challenges along with its transmission, distribution and natural gas supply infrastructure. Its 10 brand new plants which have a combined capacity of 5,455MW and are slated for privatisation, have not been privatised for sundry reasons, including shortage of gas to the plants. While the country faces challenges with its conventional power source, and looked to have in 2016 adopted renewable energy sources into its mix, the federal government has, howeve,r balked on the bold steps it took when it signed power purchase agreements for 14 pioneer solar power plants to cumulatively generate 1250MW of solar electricity to the grid. It, however, launched a campaign to deploy solar home systems to rural homes in the country, and launched its first in Wuna village, within Abuja. On the positive side, though actual generation has remained quite low, capacity has reportedly grown to 7,100MW majorly because the government approved a N701 billion loan sought by the Nigerian Bulk Electricity Trading Plc (NBET) from the Central Bank of Nigeria (CBN) to guarantee payments to gas suppliers and Gencos. On the governance of the sector, the NERC eventually got its board of commissioners appointed but not with a substantive chairman yet. NERC has also presented for approval by the government, the eligible consumer regulation which now grants Gencos rights to directly sell excess capacities to consumers. It has also passed a regulation to support investments in mini grid, as well as set in motion plans to ensure smooth reviews of the sector’s tariff. To further revive the sector, the government in partnership with the World Bank, initiated and signed off a Power Sector Recovery Programme (PSRP) in which funds are expected to flow in to support the sector through the Bank. Additionally, it revived and retooled the Rural Electrification Agency (REA), and charged it with a priority task of taking power through renewable energy sources to Nigerians. The REA has so far started off well with the launch of flagship projects such as the Energising Education Programme (EPP), which aims to supply stable electricity to 37 federal universities and seven university teaching hospitals across the country using hybrid solutions. On debts owed by the government agencies to Discos, the government has also concluded its verification and indicated its willingness to pay them off. The government equally disclosed its plans to invest about N39 billion in meter procurement and deployment to the distribution networks.

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BUSINESSWORLD

ENERGY

Ejizu:SamsungYardisReadyforIntegration of Egina FPSO The Chief Operating Officer of Samsung Heavy Industries Nigeria Limited, Mr. Frank Ejizu spoke to journalists in Lagos on the company’s accomplishments in delivering Total’s Egina FPSO, which is scheduled for integration in Nigeria. Ejiofor Alike presents the excerpts: How much technology has Samsung Heavy Industries Nigeria Limited transferred to Nigeria through the Egina Floating Production Storage Offloading (FPSO) project? Specialised projects like the Egina EPSO Project offer a unique opportunity for knowledge sharing and transfer in all the technological disciplines involved. Technology transfer has been in the forefront of our policy in carrying out this project. To this end, we formed SHI-MCI-FZE and constructed the state-of-the-art fabrication and integration yard, which is exactly modelled on what is obtainable in our world class facilities in Geoje Yard in South Korea. In the course of work, we have utilised specialised technological software uniquely developed by Samsung Heavy Industries and brought in world class experts in construction of deep offshore facilities, who have passed on their skills and experience to thousands of Nigerians that have been placed as their understudies. Furthermore, in aligning with the Nigerian Content Development and Monitoring Board’s mandate and the desire of the government to increase capacity and competencies of the Nigerian engineers and the applicable workforce through targeted trainings aimed at transferring knowledge, Samsung Heavy Industries Nigeria, through its National Human Capacity Development Initiatives, trained and is currently training Nigerians on the back of the project. During the detailed engineering phase of the project, 33 Nigerian engineers participated in a one-year training programme across nine engineering disciplines - mechanical, process, structural, piping, electrical, quality, assurance, project controls, interface and instrumentation). The trainees evolved from zero level to acquiring skills that qualified them to participate significantly and actively in the Egina FPSO detail engineering and design

Ejizu

in aligning with the Nigerian Content Development and Monitoring Board’s mandate and the desire of the government to increase capacity and competencies of the Nigerian engineers and the applicable workforce through targeted trainings aimed at transferring knowledge, Samsung Heavy Industries Nigeria, through its National Human Capacity Development Initiatives, trained and is currently training Nigerians on the back of the project

Currently in tandem with the construction phase of the project, 100 Nigerians are being trained in construction related disciplines. The skill sets and competencies that have been acquired with international certifications include but not limited to: Non- destructive testing, project planning, coating inspection, welding engineering and inspection, lifting operation, cost control, welding, machining, fitting, etc. Also, more than 300 welders have been trained and certified in various advanced welding and certified in various advanced welding processes in our Welders Training and Qualification Centre (WTQC). We have also trained and certified Nigerians in specialised jointing techniques like GRE(Glass reinforced Epoxy ) pipe bonding. Most of the above have been and are still currently engaged in the execution of the project. How many jobs did Egina FPSO create in your facility and what are the chances they would be retained at the end of the project? The Egina EPSO project has created an exponential number of jobs running into estimated 20,000 positions judging by its cascading effect outside our facility. But to restrict the answer to our SHI-MCI-FZE facility, the project has created more than 1,200 direct jobs for Nigerians. This is spread across many disciplines including but not limited to: project management, welding, fitting, logistics and other support services. It is our hope that this state of art facility would be maximally utilized through continuous patronage by all stakeholders, which would in turn ensure

the retention of personnel. How ready is your company for the arrival of the Egina Floating Production Storage Offloading (FPSO) vessel and the in-country integration? We are ready to receive the FPSO. Our readiness is demonstrated in the state- of -the- art integration and fabrication facility we have completed at our SHI-MCI FZE yard. To enable the mooring, integration and assembly of the hull and topside modules of the FSPO upon its arrival in country. We have also completed a 502metres long quay wall at our SHI-MCI-FZE Yard and obtain all statutory approvals and permits for its operation. We have further dredged the quayside to a water depth of 11.5 metres to berth the FSPO and concluded arrangement for all related towage activities including simulation test for Lagos Channel passage. Above all, we have a formidable team of well trained and motivated personnel ready to commence the integration works. What are your company’s plans to expand the size of its fabrication yard at Tarkwa Bay? Currently our yard can handle 10,000 metric tonnes of fabrication annually. However, during the design of the facilities, provisions were made for potential increase in capacity as project exigencies dictates. We are hopeful this will be the case in view of the current awareness with respect to the Nigeria Oil and Gas Industry Content Development (NOGICD) Act. This is the first EPSO project post the NOGICD

Act. What have been the unique challenges you have grappled with? The Egina EPSO is highly specialised and the NOGICD Act prescribes that a minimum of 80 per cent of the man hours to be expended on Detailed Engineering in Deep Offshore facilities- Hull and Topside were to be expended in- country. It was extremely challenging to get Nigerian engineers with requisite experience and expertise to undertake this segment of the work. We, however, appreciate the effort put in by the consortium of the Nigeria engineering firms contracted to execute these works and the innovative ways they employed to achieve completion. Obstacles were also encountered in the development of our fabrication and integration facilities, as amongst other challenges we had to convert a green field swamp into a state of the art fabrication facility. However, with our international experience and commitment, we were able to surmount these challenges. The Egina project, particularly the FSPO Integration, has become the benchmark for future deepwater projects. What new things can your company do in forthcoming deepwater projects? The fabrication and integration facility is of course now fully functional. We have demonstrated that we can handle complex engineering and fabrication jobs in country. The immediate benefits accruable are that a greater scope of any future FSPO topside modules and other offshore related facilities can be executed by us in- country.

T H I S D AY TUESDAY OCTOBER 17, 2017

ASSET MANAGEMENT C O R P O R AT I O N O f N I G E R I A

EXPRESSION OF INTEREST FOR THE PROVISION OF FINANCIAL ADVISORY SERVICES ON THE DIVESTMENT OF AMCON’S EQUITY HOLDINGS IN QUACEM LTD.

ASSET MANAGEMENT C O R P O R AT I O N O f N I G E R I A

EXPRESSION OF INTEREST FOR THE PROVISION CONSULTANCY SERVICES ON THE DESIGN OF FRAMEWORK FOR THE MANAGEMENT AND RESOLUTION OF ELIGIBLE INVESTEE COMPANIES (EICS)

INTRODUCTION This is to inform members of the public that the procurement proceedings of the above-mentioned project earlier advertised on 28th April 2017 has been cancelled in the Public interest. Consequently, AMCON is hereby re-advertising for Expression of interest for the Provision of Financial Advisory Services on the divestment of AMCON’s equity holdings in QUACEM Ltd. In this regards, the Corporation hereby invites reputable and adroit firms with relevant experience to submit EOI documents for the Financial Advisory Services.

INTRODUCTION This is to inform members of the public that the procurement proceedings of the above-mentioned project earlier advertised on 26th April 2017 has been cancelled in the Public interest. Consequently, AMCON is hereby re-advertising for Expression of interest for the Provision Consultancy Services on the Design of framework for the management and resolution of eligible investee companies (EICs). In this regards, the Corporation hereby invites reputable and adroit firms with relevant experience to submit EOI documents for the consultancy service.

SCOPE OF WORK The scope of work shall be provided in the Request for Proposal (RFP) that will be issued to prequalified bidders.

TENDER REQUIREMENT Interested companies should submit bound bid documents duly signed, paginated, separated by dividers and arranged in the order outlined hereunder: Tender Requirements (SOFT and HARD COPIES) Evidence of Certificate of Incorporation with the Corporate Affairs Commission (CAC) including Form CO2 and CO7. Bidders should submit a current Tax Clearance Certificate that is valid till 31st December 2017. Current Pension Clearance Certificate from National Pension Commission (PENCOM). Bidders should submit a Compliance Certificate with Industrial Training Fund (ITF) Act No. 19 of 2011 that is valid till 31st December 2017. Evidence of registration on the National Data Base of Contractors, Consultants and Service Providers by the Bureau of Public Procurement (BPP) or copy of Interim Registration Report (IRR) as evidence of compliance with the requirement. Bids must be in English Language and signed by an official authorized by the bidder. All bids must be accompanied with a sworn affidavit disclosing that they do not have any Director who has been convicted in any Country for any criminal offence relating to fraud or financial impropriety or criminal misrepresentation or falsification of facts relating to any matter. All bidders must accompany every bid with an affidavit disclosing whether or not any officer of the relevant committees of Asset Management Corporation of Nigeria (AMCON) or Bureau of Public Procurement (BPP) is a former or present director, shareholder or has any pecuniary interest in the bidder and confirm that all information presented in its bid are true and correct in all particulars. Evidence of Three (3) similar projects executed in the past Five (5) years including letters of awards, completion certificates etc. Personnel registration with appropriate professional bodies. Company profile to include names, qualifications and experience of key personnel. All relevant information concerning contact, telephone (preferably GSM No.), fax and e-mail address of company representative. For Joint Venture (JV)/Partnership, Memorandum of Understanding (MoU) should be provided. Note: Failure to comply with items 1-13 above will lead to disqualiﬁcation of the bid. SUBMISSION OF EXPRESSION OF INTEREST Prospective bidders are to submit three (3) hard copies of EOI documents with one (1) soft copy, which should be packaged in a SEALED ENVELOPE and addressed to “THE EXECUTIVE DIRECTOR, ASSET MANAGEMENT, ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)” and clearly marked: “EXPRESSION OF INTEREST FOR THE PROVISION OF FINANCIAL ADVISORY SERVICES ON THE DIVESTMENT OF AMCON’S EQUITY HOLDINGS IN QUACEM LTD” Specifying reference: AMCON/ QUACEM/BT/10/2017 and dropped in the designated Tender Box located on the 1st floor of the Headquarters Building of Plot 417 Tigris Crescent, Off Aguiyi Ironsi Road, Maitama, Abuja, Nigeria not later than 11.00am on the 6th day of November, 2017. All received bid documents will be opened immediately at the Conference room, Headquarters Building Abuja in the presence of bidders or their representatives. For further enquiries, please contact the “Head, Subsidiaries & Advisory” on e-mail: rfpeic.amcon.com.ng. Wrongly placed tenders and late submission would not be entertained. All costs incurred as a result of this tender invitation and any subsequent requests for information shall be borne by the bidding companies. Only short-listed firms will be contacted. SIGNED:

TENDER REQUIREMENT Interested companies should submit bound bid documents duly signed, paginated, separated by dividers and arranged in the order outlined hereunder: Tender Requirements (SOFT and HARD COPIES) Evidence of Certificate of Incorporation with the Corporate Affairs Commission (CAC) including Form CO2 and CO7. Bidders should submit a current Tax Clearance Certificate that is valid till 31st December 2017. Current Pension Clearance Certificate from National Pension Commission (PENCOM). Bidders should submit a Compliance Certificate with Industrial Training Fund (ITF) Act No. 19 of 2011 that is valid till 31st December 2017. Evidence of registration on the National Data Base of Contractors, Consultants and Service Providers by the Bureau of Public Procurement (BPP) or copy of interim Registration report (IRR) as evidence of compliance with the requirement. Bids must be in English Language and signed by an official authorized by the bidder. All bids must be accompanied with a sworn affidavit disclosing that they do not have any Director who has been convicted in any Country for any criminal offence relating to fraud or financial impropriety or criminal misrepresentation or falsification of facts relating to any matter. All bidders must accompany every bid with an affidavit disclosing whether or not any officer of the relevant committees of Asset Management Corporation of Nigeria (AMCON) or Bureau of Public Procurement (BPP) is a former or present director, shareholder or has any pecuniary interest in the bidder and confirm that all information presented in its bid are true and correct in all particulars. Evidence of Three (3) similar projects executed in the past Five (5) years including letters of awards, completion certificates etc. Personnel registration with appropriate professional bodies. Company profile to include names, qualifications and experience of key personnel. All relevant information concerning contact, telephone (preferably GSM No.), fax and e-mail address of company representative. For Joint Venture (JV)/Partnership, Memorandum of Understanding (MoU) should be provided. Note: Failure to comply with items 1-13 above will lead to disqualiﬁcation of the bid. SUBMISSION OF EXPRESSION OF INTEREST Prospective bidders are to submit three (3) hard copies of EOI documents with one (1) soft copy, which should be packaged in a SEALED ENVELOPE and addressed to “THE EXECUTIVE DIRECTOR, ASSET MANAGEMENT, ASSET MANAGEMENT CORPORATION OF NIGERIA (AMCON)” and clearly marked: “EXPRESSION OF INTEREST FOR THE PROVISION OF CONSULTANCY SERVICES ON THE DESIGN OF FRAMEWORK FOR THE MANAGEMENT AND RESOLUTION OF ELIGIBLE INVESTEE COMPANIES (EICS)” Specifying reference: AMCON/EIC/BT/10/2017 and dropped in the designated Tender Box located on the 1st floor of the Headquarters Building of Plot 417 Tigris Crescent, Off Aguiyi Ironsi Road, Maitama, Abuja, Nigeria not later than 11.00am on the 6th day of November, 2017. All received bid documents will be opened immediately at the Conference room, Headquarters Building Abuja in the presence of bidders or their representatives. For further enquiries, please contact the “Head, Subsidiaries & Advisory” on e-mail: rfpeic.amcon.com.ng. Wrongly placed tenders and late submission would not be entertained. All costs incurred as a result of this tender invitation and any subsequent requests for information shall be borne by the bidding companies. Only short-listed companies will be contacted. SIGNED:

1. 2. 3. 4. 5.

6. 7.

9. 10. 11. 12. 13.

MANAGEMENT ASSET MANAGEMENT CORPORATION OF NIGERIA

1. 2. 3. 4. 5.

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9. 10. 11. 12. 13.

MANAGEMENT ASSET MANAGEMENT CORPORATION OF NIGERIA

T H I S D AY ˾ ˜ ͯ͵˜ Ͱͮͯ͵

BUSINESSWORLD

INDUSTRY

Austen-Peters: Local Steel Production will Boost Business for Companies Chairman and Chief Executive of Dorman Long Engineering Services, Dr. Timi Austen-Peters, spoke to journalists on the successes recorded by his firm and challenges militating against similar businesses operating in the sector. Jonathan Eze presents the excerpt: the fabrication of towers and other people who bring in towers have to pay premium as opposed to getting a waiver.

So far, can you tell us the Dorman Long’s journey in Nigeria? Well, the story of Dorman Long is the same as the story of Nigeria. It has been in existence just before Nigeria existed as a country. We have been part and parcel of the development of Nigeria, starting with our fabrication of the bridge which is in Onitsha and Asaba- the first Niger Bridge. We have been involved in almost all of the warehouses that is constructed in G.R.A Ikeja, Lagos, when that decision was taken to turn Ikeja into an industrial hub. Same thing in Port Harcourt, we were the same company making the bodies for steel and so on. As the companies and Nigeria itself got more confidence, we were invited into the Oil and Gas space and then we started producing more complex and high value steel structures in that space. We have been an integral part of the story of Nigeria, as Nigeria has developed confidence in stature, in value and complexity. So far, can you estimate how much Dorman Long has spent or invested in the Nigerian economy probably in recent times? It will be very difficult for me to put a number to it because the investments are in different ways. One, we spend a lot of money locally, we buy diesel to maintain our galvanising yard, we Austen-Peters employ about 500 people but we train hundreds of people every year. You can’t put a value to Nigeria without first of all making sure that the capacity for the people like us has been exhausted some of these things. that is number one. Number two, we have been What about in terms of Capital Investments? able to, in this recession, find cost savings of up We are in the process of restructuring our to 30 per cent so it is now been demonstrated balance sheet, so that is a process, in which to be a fallacy that local content is expensive. If over a couple of years, we will see. In terms we are given the opportunity to scale up and of capital investments, we haven’t done a lot get jobs, get experience, get expertise, we can recently because we have three yards already, be as competitive as anybody else. we have excess facilities. If you come to our galvanising yard, you will see that we invested What are the challenges with steel companies almost $6 million in there. It has never done 10 in Nigeria. per cent of its capacity, why? It was established Number one, we do not produce steel in Nigeria, in order to support the fertilizer plants, LNG so somebody like me that needs to be doing plants and so on, none of them have taken off. steel products, I still have to import and that So you put this beautiful facility down, so after does not make sense as it adds to expenses. doing that, the company has not had a lot of Also, we are held to ransom because of the people who sell steel at the prices they like. Once appetite to make further investments. Nigeria can produce its own steel, I am able to I remember last year, Dorman Long talked about procure steel locally at a sensible price, cheaper establishing a yard either in the South- South transportation cost and that makes life easier. or in Lagos? So this means, it is not going Lets look at the steel sector where you play, to come up? That is exactly the point I made, we are about I understand that the prices of steel products to in the next couple of years but you are asking is reducing by the day, so how does it affect me what have we done historically. Historically, Dorman Long? we haven’t done anything since that galvanising In a way, it does not really affect us because facility, going forward, we still fully intend to we do not produce steel. Steel is not our comdo so. We are likely to do so maybe middle of modity; it is what we turn steel into. It is the next year. But the truth is that we have three value that we add to steel, that is our bread and yards in Lagos and plenty of capacity to do butter. So, in principle, if steel is cheaper, our clients should be more encouraged to embark anything that we need to do. on projects which see us getting more work but Aside Nigeria, do you have Dorman Long the reality is, Nigeria in particular, in the world has gone through very tough times, especially anywhere else like within Africa? Well, Dorman Long as you may know, is almost in the space that we primarily operate which is a franchise which was established by the British the oil and gas space. So there hasn’t been a Steel. So if you go to Australia, and so many lot of FID on capital projects in these last few places, you will find Dorman Long but the truth years. In the last two to three months, there is most of those companies no longer exists. It has been an appreciable surge in decisions, is Dorman Long Nigeria that seems to be the orders being placed with us. So you can see one that is thriving. With Dorman Long Nigeria, that there is a fundamental difference between we are presently in the process of establishing the last two- three months and the previous operations in Ghana and we are looking to do couple of years. the same in Cote d’ivoire and Senegal. I am also aware that your company is into There has been so much emphasis on local procurement, fabrication and other services content especially from that region. What do that you render. Amongst all of them which you think are the challenges of developing this do you see as a growth area for your business?. and what is Dorman Long doing to drive local The growth area that we see is especially that of content besides the training you are doing? fabrication and for the very reason, I have just Well, we are the poster child of local content. We given you. Nobody has done any project in the would not be where we are today if not for local last two to three years, not that we didn’t need content. We were given the opportunity to do the project, we needed them but we haven’t complex steel structures like pressure vessels. We been able to do them as a country, there was no did them successfully. We are now doing them money, uncertainty, no appetite all those things so well that you cannot import such things into were needed. Now that there is a bit of certainty,

Lets look at Dorman Long in an area of Oil price crash, how did it affect you? The main way it affected us was that there was no work. People who are producing this oil cannot see a return on their investments, so they don’t invest anymore. They do not execute projects. Even maintenance work, they are struggling to do because they can barely afford to keep their businesses. And so we saw a collapse in our order. We could see that. However, as I say things have started to change a bit, things are getting better.

a bit of confidence, some little money coming in, there are decisions being taking in and we have seen like i said, an appreciable surge in fabrication, orders and other activities. What is the difference between Dorman Long and other competitors? The difference, I will say, there are a couple of things. Number one, we have a legacy and we have experience you cannot buy. Number two, our people, you know when somebody has served in a company for 20 to 30 years, it is not the same as somebody who has just started yesterday. You know the type of loyalty, the type of dedication, when I see the people. Even when things were at their toughest, I got involved in the company about three or four years ago. There were a number of issues I met on ground but you could see that fundamentally the staff were loyal and committed to the company. So it wasn’t just a job it was more than that for them. That sets us in many ways apart from other companies. Now, beyond our staff, our facilities and our capacity to do work is beyond anybody else in this country, we have three yards. You cannot compare us to the international companies, we do not have their type of balance sheets but as a proudly Nigerian company, nobody can ride by us. Looking at the challenges so far, I am sure you have had challenges with government policies. How have you been handling that? Well it is the government policies unfortunately that have led to the fact that our galvanizing yard is only at 10 per cent capacity. Then number one, government no longer follow through on various decisions to do fertilizer, brass LNG and so on. Then number two, in terms of fabrication especially of towers for telecommunications and power industry this is one of the main areas we are suffering. When we want to build a tower in Nigeria, we are paying between five and twenty-five per cent duty on some of the components because Nigeria does not produce all of these things. However, when somebody comes with a fully built tower from outside Nigeria, they get 100 per cent waiver. That does not make sense and that is something we suffer from. We were at the House of Representative public hearings on committee for steels and we have made submissions there, we have participated actively, we have written memos on this matter so it is something that we are pushing aggressively with government. You know because most countries, they look for how to protect especially this steel industry,

As the economy is recovering, what are the plans to expand? Dorman Long is a steel engineering company, it is not an oil and gas company, so we play not only in the oil and gas space but in power, telecommunications and heavy industry. As all of those areas begin to breathe, as there are projects in all of those areas, Dorman Long intends to participate actively in all of them and so we expect that those would be major growth areas but even in the area where we are concentrated in now there are FIDs of very significant capital projects. There is one that is likely to be announced in the next couple of weeks of which we are a major component. We are seeing a major surge as I say in the work of the company, so the company will expand its operations and it is because of this, our view of how the future is going to be that we are determined to rejig our capacity by having a new yard over the next couple of years. Recently, you had some graduates from your company, can you tell us about us? You know Dorman Long as a company, was actually the first to train welders in Nigeria. So we have this long legacy of training youths and what we do is that we partner with some of our clients, the IOCs. Whereas, in this particular case I am talking about Hyundai and Chevron and then we have NCDMB, the local content regulator also as a stakeholder offering their support and so what we do is that we train these people with on-the-job training, so they learn to do it, they see it and they work with people who do this and by the time they finish, they are able to apply for jobs in confidence and many of them do go on and get jobs because they know they trained at Dorman Long where they did something tangible. We are also always on the lookout for talents, we actually recruited seven of the welders. So whenever we see that there are people that are hardworking, talented and committed to their work, for us it is a thing of joy to give them an opportunity for their first step in life but also it benefits us because we are getting the good talented people to do our work. Looking at Nigeria itself, what do you think the government can do to help infrastructure in Nigeria? Government can simply support those of us that are here in the country that are committed to supporting and developing Nigeria. It is no different, these are things that we have seen before. They have done it in India, Korea. They are doing it in the Middle East, they wake up and decide, this company is going to build this bridge, now people will say it is possible or not possible but actually, they take the decision that it must be and then everything else falls in place. Nigerian government must do exactly the same thing. Now the complaint will be that, we are expensive, we are slow, we do not have capacity. How would we become fast, how would we become cheaper, how would we have the capacity if we don’t see jobs. Give us the job and we would meet up in the same place they have done in Korea and India.

T H I S D AY Ëž Ëœ ÍŻÍľËœ Í°ÍŽÍŻÍľ

Improved Rainfalls Boost Power Outputs of Nigeriaâ€™s Hydro Plants Chineme Okafor in Abuja Nigeriaâ€™s three hydro power generation companies (Gencos) have continued to make the most of improved rainfalls into their dams to grow their power production even into the months of October, records from the sectorâ€™s daily statistical databank have shown. According to the databank , power sector daily report in the first two weeks of October had seen the hydro plants consistently increase their power production, thus generating a good volume of the total electricity supplied to Nigerians within the period. A computation of the production levels of Gencos including gas Gencos, showed that from October 1 and 11, the three hydro plants collectively generated 11,103.56 megawatts (MW) of the 39,256MW generated, and this represented about 28 per cent of the generation output, leaving the balance of 28,152.44MW to be generated by 22 gas Gencos.

From the records, Jebba hydro power plant produced the most power within the period â€“ 3,958.2MW, followed by Shiroro which produced 3,592.91MW, and Kainji which had 3552.45MW to show. Their production pattern also showed that between October 1 and 11, Jebba produced 381MW, 315.51MW, 384.43MW, 352.01MW, 396.49MW, 343.59MW, 298.71MW, 318.93MW, 383.61MW, 382.9MW, and 400.02MW. Shiroro also had within that period 450.28MW, 425.85MW, 355.7MW, 349.09MW, 324.17MW, 342.02MW, 160.74MW, 221.45MW, 329.07MW, and 304.5MW, while Kainji produced 358.45MW, 325.68MW, 365.59MW, 342.45MW, 305.9MW, 292.34MW, 318.99MW, 316.03MW, 340.59MW, 311.35MW, and 275.11MW. This also indicated that on the average, the three hydro plants generated 1,009.4MW of electricity from the average

3568.7MW of electricity the country produced everyday within the 11-day period. Recently, the Minister of Power, Works and Housing, Mr. Babatunde Fashola, indicated that power generation was beginning to grow but that the inability of distribution companies (Discos) to take more power that were generated was a challenge to the sector.

Similarly, the sectorâ€™s databank backed Fasholaâ€™s claims and explained that, â€œDisco inability to pick load is the largest constraint to improved service delivery at this current time.â€? It added that within the period a total of 27,807MW of electricity representing 2,527.9MW daily were constrained from getting to homes and offices in Nigeria.

But in their response to claims they were rejecting power generated and transmitted to them, the 11 Doscos, through their umbrella body, the Association of Nigerian Electricity Distributors (ANED), stated they were not rejecting electricity per se, but that the Transmission Company of Nigeria (TCN) was fond of taking electricity loads to areas in their network they

donâ€™t want. ANEDâ€™s Director of Research and Advocacy, Mr. Sunday Oduntan, explained in a meeting in Abuja that the TCN had always taken electricity loads to parts of the distribution networks where they frequently lose revenue for energy supplied to them, and ignoring their request to have them dump loads at their preferred locations.

NAPTIN Trains 36 Liberians on Power Sector Operations Ejiofor Alike The National Power Training Institute of Nigeria (NAPTIN) has commenced the training of 36 electricity workers from the Liberia Electricity Corporation (LEC) on power generation, distribution and transmission, as well as commercials. The four-week programme, which is sponsored by West African Power Pool (WAPP) and funded by the United States Agency for International Development (USAID), is aimed at boosting the manpower development of LEC and promoting West African countriesâ€™ integration on power sector. Speaking at inauguration of the first batch of the trainees at NAPTINâ€™s Regional Training Centre at Ijora, Lagos, NAPTINâ€™s Acting Director General, Alhaji Ahmed Nagode, disclosed that WAPP would use the training programme to grow the technical skills of LEC personnel. He said the trainees would deploy the acquired skills and knowledge to resolve their power challenges bedeviling the African nations. Nagode said that the course was designed in three models with 18 personnel to be trained at NAPTIN Regional Training Centre in Lagos, while the other 18 personnel would be trained at Kanji Dam. â€œThe National Power Training Institute of Nigeria (NAPTIN) and the West African Power Pool (WAPP) are coming together to help grow technical skills of personnel of Liberia Electricity Corporation in order to improve the skills of these personnel, who in turn, use their acquired knowledge to solve some of the power challenges bedeviling the African nations. Leveraging on the strength of one another through proper synergy has proven to be a catalyst for growth and development. World-class companies and institutions have at one time or another sought

partnership with each other to grow,â€? Nagode explained. He commended President Muhammadu Buhari-led administration on its power sector recovery plan, which sought to ensure incremental and uninterrupted power in Nigeria. The NAPTIN boss said that the event could be perceived in a sense as part of its contributions in fulfilling the Medium-Term Sector Strategy (MTSS) objectives of the Federal Ministry of Power, Works and Housing. â€œThe West African Power Pool is a regional body of ECOWAS, which is made up of 29 power utilities of West African States. â€œIts vision is to have a unified regional electricity market in West African through a national power system,â€™â€™ the NAPTIN boss added. Explaining the training modules to journalists, NAPTINâ€™s Director of Training Programmes, Mr. Francis Elughi stated that the objective of the training is to improve their capacity on electricity generation, distribution and transmission network. According to him, the training will also increase their capacity in effective power supply and revenue collection. He identified the six courses under the programme to include: power transmission network and substation operations and maintenance; power distribution, maintenance and repairs; commercial (metering, sales, invoicing, customer relations and accounting); power generation and maintenance; power distribution, design and operations; and power system planning and environmental guide/protection. Speaking on the experience of the trainees, one of the Liberian trainees, Mr Wahmah Viagoly, commended NAPTIN, adding that the power training would impact qualitative and quantitative knowledge on them.

BEHOLD THE NEW PILOTS

L-R: Captain Jika Keghtor;Managign Director/CEO, Medview Airline Plc, Alhaji Muneer Bankole; Captain Olatunbosun Buraimoh; First OďŹƒcer Oguare Eziegbe and Captain Ayub Kambinda the decoration of the the pilots by the company in Lagosâ€Śrecently

TSL, Multi-brand Automotive NSC Woos Investors, Lending Workshop, Opens in Lagos Institutions on IDPs, TTPs Bennett Oghifo TSL, Nigeriaâ€™s largest multibrand automotive workshop, is set to start operations on Thursday, October 19t, 2017. The hi-tech auto company, located on the ever-busy vehicle sales hub of the Oshodi-Apapa Expressway, can service and repair all passenger and commercial automotive brands from Ferrari to Toyota - and has announced that it would offer 30 per cent discount on service and repairs from October 19 to October 31, 2017. Corporates who register their fleet with TSL between that period will receive special pricing, and after the promotion date, TSL promised to price-match any reputed workshop in Lagos that has over at least 18 service bays. TSL will also engage in the sale of new and used vehicles. They will provide Gold Certification and Peace-of-Mind Warranty on used vehicles, as well as 24/7 roadside assistance. TSLâ€™s founder is none other than Mr. Raju Sawlani, a veteran in the Nigerian Auto Industry and former Managing Director of Stallion Motors is the founder of TSL. Sawlani is also the former Executive Director of Coscharis Motors and Kewalram Chanrai Group. Being at helm of these top auto companies, he gained exposure to over 30 automotive brands. He has over 21 years of experience in the

Nigerian auto industry. He has set up numerous automotive showrooms (including the Porsche showroom), several workshops and a few assembly plants. He was the first to implement breakthrough service campaigns in Nigeria like the 4yr/100,000km free service campaign. In 2015, he was awarded the OnWheels Leadership Award for his outstanding vision, dedication and commitment to the Nigerian auto industry. â€œHaving sold over 200,000 vehicles (worth about $S7.2 billion) in Nigeria over a 21year period, my customers have voiced their concern to me about after-sales issues. For this reason, I decided to launch TSL. I handpicked the best technical personnel in the Nigerian auto industry - these are highly experienced individuals who I have observed over a 21-year period. In addition, our machinery and equipment are from the top manufacturers in the world. We will prove to the world that supercars do not need to be flown out of Nigeria for service and repairs. Nigerians are highly talented and capable people,â€? he said. He explained that the main parameters that define repair quality are: quality of workmanship, genuineness of spare parts, lubricants and fluids used, and the overall customer experience, which includes a reasonable price and the least amount of downtime.

Eromosele Abiodun Determined to ensure that the Inland Dry Ports (IDP) and Truck Transit Parks (TTPs) commence operations as soon as possible, the Nigerian Shippersâ€™ Council (NSC) , has started to woo investors and leading financial institutions to show interest in the modern transport infrastructure schemes. THISDAY reliably gathered that the NSC has concluded plans to meet some of the key investors and lending institutions during which it will unveil the economic benefits of the two projects. The idea, THISDAY learnt, is to attract more investors to the two schemes, a development that will lead to speedy completion of the projects. THISDAY checks also revealed that he NSC is promoting IDPs to ensure that shipping services are made easier for all importers and exporters involved in international trade. â€œIDPs which have been concessioned are being established in all the six-geopolitical zones of the country under to serve shippers who are far away from seaports. Similarly, TTP project is also a modern transport infrastructure which aim is to ensure safety and security in the movement of goods from one destination to another. â€œUnder the programme, the TTPs will be established at

special points in different areas in the country along major expressways for the truck drivers to park, rest and refreshen themselves before continuing the journey. This is what obtains in many advanced countries to promote safety and security of persons and goods on the way to different shippers. Already, some state governments have shown interest in the projects by providing land and promising other necessary infrastructures for the success of the parks,â€? said Executive Secretary of the Council, Hassan Bello. The NSC boss added that there have been rising activities on the IDPs. He disclosed that while the Kaduna IDP has already taken off awaiting a formal launch, construction works have commenced in Isiala Ngwa IDP, Abia State. Similarly, Bello also said a lot of activities have commenced towards construction in Funtua IDP. He disclosed that in Jos, a lot of progress has been made, adding that the rail lines to the IDP are being rehabilitated. Another IDP that is making progress, according to him, was the one in Benin City, adding that as a Greenfield investment, the Council will very soon take the issue to the Infrastructural Concession Regulatory Commission (ICRC) for other processes.

T H I S D AY ˾ TUESDAY, OCTOBER 17, 2017

PROPERTY & ENVIRONMENT Mixta Nigeria Creates a Strictly High-end Bolt Hole in Lakowe Mixta Nigeria, an ARM company, has developed a high-end exquisite facility known as Lakowe Lakes Golf & Country Estate. It is conceived and built as an exclusive, secure and serene haven, complete with 18-hole golf course, and a resort, all spaced around 11 nature-inspired lakes. Bennett Oghifo reports

akowe Lakes Golf & Country Estate is strictly a high-end facility in Lagos, located off the Lekki-Epe road and built on 308 hectares of land. However, the estate sits on only about a third of the 308 hectares, leaving the rest of the land green, which is the reason the estate is fondly known as “Where luxury blends with green living. The estate is about exclusivity and lifestyle, said the Head of Sales, Mixta Nigeria, Korede Lawrence-Salu, during a media tour of the facility recently. “What we do actually at Mixta is build communities. This particular one is geared towards the higher end of the market. These are individuals that are comfortable and have other home(s). We also build for the middle and mass markets,” he said. “The context of Lakowe is that we are selling to that particular upper market segment, even though we are surrounded by other market segments.” The estate is conceived as a getaway-facility, and not necessarily for a first time homeowner. The estate comprises a pristine 18-hole golf course, smaller 9-hole course and clubhouse with sports facilities such as a swimming pool, squash, tennis and badminton courts. The residences have been designed for homeowners to enjoy the full splendour of the

The serene ambience of Lakowe Lakes Golf & Country Estate

golf course and 11 lakes. The property is so appealing that all the 216 homes in this first phase were sold off-plan. But there are 450-900 sqm residential plots for purchase and the price of each plot depends on its location. Prospective homeowners are expected to deposit 10 per cent of the cost of the desired home. There are different house types in the estate:

detached villas, loft apartments, flats and terrace homes. There is an enclave of ultra-high-end homes, known as The Village. There are only 18 units of homes in At The Village, they have everything including their own streets and recreational areas. It is a village country home and a home away from home. The Aso Loft is a one bedroom facility designed for anyone who wants to stay over

at the weekend and play a game of golf or to get away from home in Ikoyi, for instance, for whatever reason. “People buy the loft for different purposes.” The tour went to the house type known as The Chad B, a twin two-bedroom affair-one on top of the other. Between the Chad B and the Aso Loft are some fully detached Ogban villas of four bedrooms, including the maid’s. There is the Shapa, Idanre, Cheri Hills, Palms, Baobab units. The bathrooms and kitchens are fitted with high quality systems. The Palms is built on 450sqms and the Baobab is on 350sqms. All homes have a lot of space and light. Mixta controls security at the estate level, with 24-hour security patrol, and no resident is allowed to build his or her fortress but they can demarcate their property with a prescribed material. All of the homes and other facilities are linked with paved roads, and the estate has uninterrupted electricity, water supply. The estate has a recreational park, commercial areas, and property documentation, among others. Facilities in the estate is presently being managed by a team but going forward, a homeowners association would be established along with the homeowners’ agreement. In addition to payment for the home, there would be a deposit for the maintenance of facilities in the estate.

Global Property Partners to Hold Infrastructure Summit Bennett Oghifo Global Property Partners, a consortium of firms with diverse interests in real estate and infrastructure development, will hold an International Summit on Infrastructure Development in Lagos on October 26, 2017. The Summit, which will attract some key players in the infrastructure finance and development industry both in Nigeria and internationally, will have the Vice President of Nigeria, Prof. Yemi Osinbajo, as the Special Guest of Honour, while the Guest Speakers include some leading personalities in the Private and Public sector of the country. With the theme, “Infrastructural Development as Catalyst for Economic Growth”, the 2017 GPP Summit “focusses exclusively on creating avenues that generate sustainable income and wealth through global partnerships, innovation and sound investments.” According to the Managing Director/Chief Executive of GPP, Mr. Emmanuel Odemayowa, “This year’s Summit is to create a platform for the engage-

ment of global institutional investors for infrastructure development”. Noting that the value of Nigeria’s total infrastructure stock (road, rail, power, airports, water, telecoms and seaports) represents only 35% of GDP, as against peer emerging market countries average of 70%), Odemayowa said Nigeria needs to invest $3 Trillion in infrastructure over the next 30 years to optimize the contribution of these critical sectors of the economy. “It is therefore critical that Nigeria leverages on private financing opportunities for infrastructure development from global institutional investors through Public Private Partnerships (PPP), he said, adding that “the 2017 GPP summit aims to raise Partners to Finance the National Economic Recovery Goals with regards to Infrastructure Development.” Among the issues to be discussed at the Summit are Investment Opportunities in Africa and beyond; Mobilising Institutional Investments for Infrastructural Development and Current Government

Policies and Regulations on Public-Private Partnerships. There will also be Networking Opportunities with Distinguished Business Execu-

tives and Corporate Leaders in the national and global infrastructure finance sector at the Summit. A number of Guest Speak-

ers from both Nigeria and the international community will make presentations at the Summit, including Dr. Zhao Changhui of China EximBank,

Mr. David Smith of the British African Business Alliance and the Minister of State for Power, Works & Housing, Hon. Mustapha Baba Shehuri.

L-R: Head of Operations, Global Property Partners (GPP), Laolu Oluwarinde; Brand Manager, GPP, Esther Briggs; MD/CEO, GPP, Mr. Emmanuel Odemayowa; Senior Special Assistant to the President on Foreign Aﬀairs & Diaspora, Mrs. Abike Dabiri-Erewa; Prince Akinwale Ojomo; and Mallam Salisu Abdulahi, during a courtesy call on Dabiri-Erewa… recently

Nigerian Engineers Plan Safety Awareness to Prevent Disasters The Nigerian Institution of Safety Engineers has said it would evolve strategic awareness campaign to assist in preventing disasters and improving safety, particularly in respect of fire, flooding and building collapse across the country. The Nigerian Institution of Safety Engineers (NISE), a division of the Nigerian

Society of Engineers (NSE), was inaugurated in January 2016, and it is made up of engineering practitioners who are registered with NSE and are active in safety practice. The pioneer National Chairman of NISE, Engineer Abiodun Oyedepo said the Institution of Safety Engineers would carry out its awareness campaign through state chapters across

the country. According to him, NISE was not formed to compete with other safety bodies and agencies but that it would rather collaborate with all, to better improve safety, as an engineering body. Oyedepo said, “Safety is embedded in engineering,” stating that membership of NISE was open to engineers

but that those who were not registered engineers but are involved in safety were also welcome in the Institution as associate members. The NISE Chairman said people have been wondering if there were no engineers in Nigeria in view of the incessant disasters caused by fire, flooding and by building collapse across the country.

He said one of the strategies the NISE adopted in sensitising the public to proffer solutions and preventive measures to such disasters, was the leadership’s visit to organisations and agencies that are stakeholders in safety and engineering, such as Chevron, NNPC Retail, NERC, NPA, DPR and the Minister of Labour and Productivity, among others.

Oyedepo said the response to their visits was impressive, “with people expressing appreciation that Nigerian engineers have eventually risen from their slumber.” He added that “we are building a foundation for others to build on, and are setting up chapters in more states of the federation, with the first one recently being inaugurated in Awka, Anambra State.

T H I S D AY ˾ TUESDAY, OCTOBER 17, 2017

PROPERTY & ENVIRONMENT

‘Shortage of Skills in Construction Project is a Major Challenge’ Bennett Oghifo A Fellow of the Nigerian Society of Engineers, Samson Ameh Opaluwah has bemoaned the dearth of skilled manpower in the nation’s construction industry. Speaking on ‘Construction Sector Skills/Craftsmanship in Nigeria’, after his induction into the Hall of Fame of CED Magazine in Lagos, recently, Opaluwah said, “Deficiency and shortage of skills at the operational level of construction project execution is a major challengeinNigeriatoday. The industry is growing without a commensurate growth in the capacity and stock of competent skilled construction workers. “Skills shortage and skills gap is a major challenge in the sector. Ironically, the country is awash with a teeming youthful population without skills. To quickly address this, government should restore technical education to the former systems of progression from Craft School to Technical Schools and ultimately the Polytechnics. Craft Schools and Technical Schools are fundamental to the production of Technicians, Artisans and Craftsmen.” The Polytechnics, he said “Must cease to be mini Universities but strictly produce middle level manpower that are technically proficient to provide the needed expertise to meet the skills gap presently experienced on our infrastructure sites.” According to him, “The National Vocational Qualification Framework, which seeks to compensate and remunerate skills rather than

classroom certificate, should be encouraged, supported and propagated. This framework will harvest the non-formally educated artisans & craftsmen, organize their non-formal acquisition of expertise and certify their proficiency with the appropriate remuneration levels.” This, he said was being handled by the National Board for Technical Education (NBTE) through the Nigerian Institute of Building (NIOB), Council for the Registration of Builders (CORBON), The Industrial Training Fund (ITF) & others. On procurement of infrastructure, he said procurement and distributive activities should be utilised to stimulate and promote local manufacturing and production capacities. “This will ensure the setting of benchmark prices of essential goods and services and prevent artificial scarcity arising from hoarding. “Public Sector capital budget should seek not only to procure capital items such as infrastructure but to stimulate socio-economic activities in the course of the projects implementation. The multiplier effect of government spending should be strategically understood and implemented.” He said a very significant factor in the poor Infrastructure serviceability levels in the country was due to the lack of a strategic approach to management and maintenance. “Preparation and provisions for maintenance in use must be a prime consideration at the design and contract award stages. This prepares the necessary grounds for

Investing in Environment Sector Will Increase Sources of Income in Nigeria, Says Jibril Bennett Oghifo The Minister of State for Environment, Ibrahim Usman Jibril has said that the Nigeria’s economy would improve considerably if the government invests in the nation’s environment sector. “With proper harnessing and leveraging on our natural resources the root of our economic recovery will be faster when we consciously support the green economy by investing in the environment sector to increase other sources of revenue in the Nigeria economy.” The minister state this at a press conference in Abuja, ahead of the on-going 11th National Council on Environment in Abeokuta, Ogun State, which began yesterday and will end tomorrow. Jibril said, “These opportunities include repositioning of the National Agency for Great Green Wall (GGW), Environment Sound of Chemicals Management, Watershed Management, Renewable Energy, Eco-Tourism, Green Bond, Afforestation/ Reforestation, Implementation of the UNEP Report and the Hydrocarbon Pollution remediation Project.” He said, “Since my assumption in office, we have vigorously pursued and sensitised the Nigerian citizens towards going green and achieving toxic-free environment. It is my sincere

wish that after this National Council meeting that the decisions reached will be such that is capable of re-engineering the sector to expand the frontiers to meaningfully contribute to a speedy economic recovery.” He said, “In spite of the challenging times, this government has demonstrated complete political will and commitment in the cause of reviving the “Nigerian Project” by dealing with immediate issues of improving security, tracking corruption, and revitalizing the national economy. It is in the light of this that government recently launched the Economic Recovery and Growth Plan (ERGP), 2017 – 2020 economic blue print. Pursuant to the ERGP’s policy objectives on the Environment Sector, our deliberations during the council meeting would be guided by our present challenges, aspirations and the policy direction and focus encapsulated in the Economic Recovery and Growth Plan (ERGP) which defines and determines the new narrative and vision of the present administration for the sector. To this end, I urge our distinguished delegates to the meeting to be objective when considering the merits and demerits of submitted Council Memoranda by applying the stated criteria especially as they relate to the ERGP set targets.”

the funding requirement at implementation and throughout the life-cycle of the project. “Facility Management of our national infrastructure is an economic enabler as it

has the multiple effects on infrastructure availability, technical/craftsmen engagement, construction materials production & marketing and employment

generation. “Nigeria possesses the potential to develop itself and provide leadership in developing the rest of Africa, when the correct strategies for

socio-economic development are embarked upon especially in the area of infrastructural development which consumes a significant portion of our continents annual budgets.”

President, Nigeria Society of Engineers, Otis Anyaeji

Investing in Real Estate, Lucrative, Brilliant Strategy to Grow Wealth Anita Mba Investing in real estate is a lucrative and brilliant strategy for growing wealth. The market is diverse and investing is available to all at levels of financial capabilities. There are various ways to make huge returns in real estate and if you are contemplating whether or not to become an investor, the answer is a strong yes and I’ll tell you why. Generally speaking, to invest in Real Estate, you have to determine how much money you want to spend and choose the option that best aligns with your resources and goals. There will be challenges just like any other venture, so be prepared and conduct adequate research, as well as reserve some extra cash for any excesses that would possibly surface, to cushion the effects of any setbacks. In the Nigerian market, a prospective investor is usually first introduced to buying and selling properties, as it is most common. There are, however, a few other Real Estate investment tools to choose from as a rookie. It is quite simple when you understand and appreciate the dynamics of real estate investing. Though not as simple as merely buying, selling or generating rent. If not properly executed, you may find yourself living a nightmare. Let’s explore a few of them: 1. Rental property – This requires buying or building a property for the purpose of leasing to tenants for an agreed period of time in exchange for a rental fee. These are either residential or commercial properties. The beauty of rental as a form of real estate investment is that it allows for steady generation of cash flow income.

2. Landed property – This is attractive for real estate appreciation and capital growth, i.e. where the value of the property incubates and increases over time. This depends heavily on the location of the land. Ensure that it is a sought after location, with prospects for development. As the location gets busier, it becomes higher in demand and scarce thus increasing its value. Investing in landed property for real estate appreciation can be tricky because sometimes the market can become volatile, and predicting is not always easy as it is affected by external forces. 3. Property development – It is a process that includes buying, building, or renovating properties for the purpose of developing attractive, desirable and modernised structures to be resold or leased as residential or commercial properties. The prices for most luxury developments however usually go through the roof primarily because it requires substantial capital. This investment option is very common within the Lagos environs. 4.Real estate flipping – Simply put, is buying low and selling high. It could also be achieved by acquiring property, renovating to standard and selling for a profit. Investors who adopt this strategy generate profit through appreciation of property in fast rising market and improvements from renovations. 5. Real estate investment trusts (REIT) - REITs are modelled after mutual funds in the sense that funds are pooled from different investors and are used to finance the acquisition of income-producing real estate. REITs are traded on major stock exchanges. Just like a trustee and beneficiary relationship, interests are held, managed and maximised for investors. The beauty of REITs, as an

investment strategy, is that it is available to investors of all types of income streams. Anyone can invest in large scale portfolios, without the traditional method of hiring a realtor or having to go and purchase property. They’re liquid, very diverse and transparent. REITs unfortunately have not gained much momentum in the Nigerian market as it has in other climes. Tip – Investors generally prefer not to buy in their own name for risk management. Consider buying under a separate legal entity, i.e. a limited liability company. That

way, if the market becomes epileptic or starts experiencing uncertainty, if anything goes wrong with your investment, you can go to sleep knowing your personal assets are safe. Please consult with a legal professional. The Nigerian real estate market has a lot of potential with various opportunities, these are but a few ways rookie real estate investors can begin their journey. The goal is to spot and seize them. As an investor, you should be confident enough to say you have covered all incurred expenses and/or realised profit.

Awobodu: Govt Needs to Do More to Grow Construction Sector Bennett Oghifo The government has been advised to show more commitment to the construction sector, considering its important role in the growth of the nation’s economy. The advice was given by the First Vice President of the Nigerian Institute of Building (NIOB), Mr. Kunle Awobodu, at the 2017 annual lecture with the theme “The Role of the Construction Sector in Postrecession Nigeria,” organised by the Property and Environment Writers Association of Nigeria (PEWAN) in Lagos, recently. Awobodu recommended that local construction companies be given preference in infrastructure development for the nation to have significant economic growth. “Many nation’s development are tied to the construction sector, this sector is the determinant of development in any nation.

“Government should take investments into construction industry serious, recession can re-occur due to our human errors,” he said. In his presentation, Dr. Meckson Okoro, Founding Partner/Consultant, M.I.Okoro and Associates said foreign construction companies, which usually got all the infrastructure contracts do not use the proceeds to improve the lives of Nigerian citizens because their earnings are repatriated to their home countries, leading to capital flight from the nation. Chief Okoro commended PEWAN members for setting agenda on issues of growth in the construction industry in the nation. He however lamented the absence of the representatives of the Lagos State and Federal Government at the event urging journalists to exert themselves to ensure things were done right in the construction sector.

17.10.2017

WEEKLY PULL-OUT

‘LAW SHOULD BE A GRADUATE PROGRAMME’ Professor Epiphany Azinge, SAN

2/DASHBOARD

17.10.2017

Propriety of Order of Re-trial in Criminal Cases PAGE 4

Olanipekun Admonishes Bar, Bench Members to Shun Corruption, Unethical Practices PAGE 5

Unnecessary Adjournments Could Cost You Your Practice Licence, Lagos CJ Warns Lawyers PAGE 5

NAFDAC Seeks Life Sentence for Drug Counterfeiters PAGE 6

QUOTABLES 'The truth of the matter is that, I came into Government with what I thought was a fairly clear notion of the extent of corruption. But, it is impossible for you to understand how deep this issue is. You have $30 billion in your reserves. Just probing military expenditure alone in a period of 4 years, almost $15 billion is not accounted for; and that is almost half of your reserves. There's nowhere in the world where that happens and somebody just says "well by now, you should have forgotten about that".' – Prof Yemi Osinbajo, GCON, SAN, Vice President, Federal Republic of Nigeria

‘Consistency, Passion, Dedication and Diligence Make a Successful Law Career’

'In President Buhari's Administration, in my view, less than 20% of the Ministers are functioning. I can point at Agriculture to tell you that something is happening there. I find it difficult to point to Power. I find it difficult to canvass for Information. I find it difficult to talk about Federal Capital.' – Daniel Bwala, Legal Practitioner, Abuja

The Unsatisfactory State of Our Justice System (3)

COLUMNIST ABUBAKAR D. SANI Abubakar D. Sani holds a Bachelors degree from the University of Maiduguri, and has been in active private legal practice since he was called to the Nigerian Bar in 1987.He is the Principal of Abubakar D. Sani & Co., which has ofﬁces in Abuja and Kano. " INSIGHT" aims to unravel, analyse and proffer solutions to numerous anomalies in Nigerian law and practice, particularly statutes, vis-a-vis the Constitution, International Treaties and Conventions to which Nigeria is a signatory, Judicial Precedent and other relevant statutes and issues.

PAGE 6

PAGE 7

The Kachikwu and NNPC-Management Imbroglio PAGE 11

ONIKEPO BRAITHWAITE EDITOR JUDE IGBANOI DEPUTY EDITOR AKINWALE AKINTUNDE REPORTER TUNDE BUSARI GROUP HEAD OCHI OGBUAKU II ART DIRECTOR

Corporate Governance, NNPC and Law Reform

Need for Law Reform y now, it is patently obvious to all, that the National Assembly needs firstly, to undergo a rigorous exercise of reviewing all the existing laws in Nigeria. Some of the laws are extinct, while many of them (even sometimes on the same subject-matter) not only contradict themselves, but are also inconsistent with the 1999 Constitution of the Federal Republic of Nigeria (as amended in 2010)(the Constitution). Secondly, there is a bevy of outstanding Bills lying down in the National Assembly, waiting to be considered and passed. Be that as it may, Nigeria is still not suffering from any acute shortage of laws. The issue is that many of our laws are ignored, they are not enforced, talk less of being obeyed. Recently, I gave the example of the laws governing Bigamy, and how in Nigeria, they are shrugged off, and flouted with ‘gusto and aplomb’. However, it is a cause for concern, when Government and its agencies, incessantly disregard laws, manipulate and misinterprete laws to suit their own purposes, and defy them as a matter of course. Should they not lead by example? The NNPC Saga Recently, the new saga that has been in the frontline, is that of the leaked letter purportedly written by the Minister of State of Petroleum Resources to President Buhari, containing allegations of infractions by the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC/ the Corporation), ranging from the recent appointment of staff (which far from reflect federal character) and award of contracts to the tune of $24 billion, without prior Board Review and Approval. The NNPC Act Section 4(1) of the Nigerian National Petroleum Act 2004 (NNPC Act) does permit the Corporation to employ staff that it deems necessary. However, Section 1(2) of the NNPC Act clearly provides that the affairs of the Corporation shall be conducted by its Board of Directors, and I would imagine that this includes key staff appointments and promotions, securing of loans, award of contracts certainly to the tune of $24 billion, and the like (though the Vice President has subsequently stated that they were loans not contracts). The last time I checked the major role of a Board of Directors of an organisation, is to direct its activities and be accountable to its shareholders and stakeholders. Section 3(1) of the NNPC Act provides for the appointment of the Managing Director of the Corporation to be "responsible for the

Dr. Maikanti Baru and Dr. Ibe Kachikwu

execution of the policy of the Corporation and the day-to-day running of the Corporation's activities and its associated services". Execute which policy? Those decided by the Federal Government, and fashioned out/ practicalised by the NNPC Board. I cannot also imagine that, whether loan or contract, transactions worth over $20 billion, can be classified as day-to-day activities! This is an astronomical amount, too much for Dr Baru who doubles as the Chairman of the NNPC Tenders Board, to take on without his Board, because such amounts would comfortably fall into the category of policy. The first schedule to the NNPC Act Part A Section 4, expressly provides that decisions of the Corporation shall be taken in accordance with Section 27 of the Interpretation Act (Section 27(1)(a) & (b)), which in turn provides for decisions of a body to be made by a majority or quorum, and the person presiding over the meeting having the casting vote. Reading the Interpretation Act into the NNPC Act, it means that NNPC decisions, must be deliberated and agreed upon at Board level, before going out for requisite approval. It therefore goes without saying, that whether it is key staff appointments or award of contracts, or loans of a huge magnitude, by virtue of the NNPC Act, there should have been Board Approval prior to obtaining approval from the Federal Executive Council or the President. Breach of the 1999 Constitution Section 14(3) of the 1999 Constitution (I keep having to refer to it and regurgitate its provisions, since it seems to be often overlooked by Government when appointments are being made), provides that composition of Government and its agencies, must reflect federal character, and there should be no predominance of persons from a few States or a few ethnic groups. It is therefore, shocking to say the least, that someone of the stature of Group Managing Director of NNPC would leapfrog his Board of Directors, disregard the provisions of the 1999 Constitution, and insensitively make such lopsided appointments, glaringly favouring the Northern Section of the country, while totally excluding the South East Zone, amidst all the present agitations going on in the country. Such actions can only incense not just the agitators, but many Nigerians, and pitch them against the Government. One even wonders whether the Federal Character Commission which has the mandate to give effect to Sections 14(3) & (4) of the 1999 Constitution, still exists. It seems that the recent NNPC staff appointments in any event, are unconstitutional, going by the foregoing constitutional provisions. NNPC's Response The submission by NNPC that, 'the law

and the rules do not require a review or discussion with the Minister of State or the NNPC Board on contractual matters', is in my humble opinion, untenable, as Section 1(2) of the enabling Act of the Corporation, puts the Board in charge of all the affairs of NNPC, without excluding contractual matters. Public Procurement Act 2007 (PP Act) or not, NNPC Tenders Board or not, there is a procedure laid down by Section 1(2) of the NNPC Act, which cannot be by-passed on anybody's whims and caprices. Or do we just ignore the provisions of the NNPC Act, which establishes and is the enabling law of the Corporation? Some have fingered the PP Act, as one of the culprits, that has caused the crossedlines between the Chairman and the Group Managing Director of the NNPC. How so? As far as I'm concerned, the PP Act simply provides the rules that procuring entities should follow for bids, award of contracts and so on, and has the final say in the award of contracts. Nowhere in the PP Act, does it say that the the Federal Executive Council or the President may give the final approval to contracts, nor does it say that the National Council on Public Procurement or the Bureau of Public Procurement, can and will assume and replace the functions of a Board of a procuring entity, which in this case, is the NNPC. The objectives and functions of both bodies, are clearly stated in Sections 2,3,4 & 5 of the PP Act. It seems that the PP Act presumes that the NNPC has done the needful 'in-house', before its role kicks in. Those that see nothing wrong in Dr Baru's actions, as far as the financial transactions are concerned, say that contracts below a certain amount go to the NNPC Tenders Board, while above a certain amount take another route through the Bureau of Public Procurement. The intendment of the NNPC Act, surely could not be to make the Corporation's Board redundant? Some elect to see it as a contradiction between different legislation related to the same subject-matter. This may be a good case for interpretation by the Court.

ONIKEPO BRAITHWAITE

THE ADVOCATE onikepo.braithwaite@thisdaylive.com onikepob@yahoo.com

"IT IS THEREFORE, SHOCKING TO SAY THE LEAST, THAT SOMEONE OF THE STATURE OF GROUP MANAGING DIRECTOR OF NNPC WOULD LEAPFROG HIS BOARD OF DIRECTORS, DISREGARD THE PROVISIONS OF THE 1999 CONSTITUTION, AND INSENSITIVELY MAKE SUCH LOPSIDED APPOINTMENTS, GLARINGLY FAVOURING THE NORTHERN SECTION OF THE COUNTRY, WHILE TOTALLY EXCLUDING THE SOUTH EAST ZONE, AMIDST ALL THE PRESENT AGITATIONS GOING ON IN THE COUNTRY"

Dear Editor Re: SANship: Becoming Integrity Deﬁcient? Dear Editor, I am an ardent fan of your column. Your column on "SANship: Becoming Integrity Deficient?" was frank and bold, you spoke the truth and it yielded fruit! Thank you, Olufola Wusu Commercial Lawyer, Oil & Gas/ Intellectual Property Consultant Dear Editor, Re: Needed? Mental Abuse Law I happen to be one of the ardent readers of your law column; which is quite interesting and educative. Keep on doing the good work! May Almighty God be your aid in all your endeavours. I read your above column, in which you narrated a tale of your friend suffering from psychological trauma caused by her husband. It is quite unfortunate! I endorse your courage for speaking out for the voiceless. God bless you! I implore you to speak continuously on the psychological trauma meted out against the victims; females and their counterpart. Here in Makurdi, I observed a mentally disturbed lady that wanders stark naked around the town daily. The first time I saw her, I was shocked and horror gripped my heart. I then embarked on a critical investigation, to find out the

cause of her condition. I discovered that the lady dated a lad who financed her academically, promising to marry her after her studies. Before the lady completed her programme in the tertiary institution, the lad dumped her for another lady. This affected her psychologically, and deteriorated to the current terrible situation she finds herself. As an advocate, who speaks against the ailments that cripple the society, I deem it fit to notify you, in order for you to call those in power and the major stakeholders, to look into the issue of mental illness healthcare, and to take care of the people suffering from it, like the lady I mentioned. Congrats! Happy 1st year anniversary as the Editor of THISDAY Lawyer. Ayoola Imran, Makurdi. Dear Editor, Re: Felicitations Good day and trust you are doing great. This is to felicitate with you, as you celebrate your one year and few days as Editor of THISDAY Lawyer. Here's wishing you greater achievements in the years to come, by God’s grace. Thank you. Best regards, Gabriel Fatokunbo

4/LAW REPORT

17.10.2017

Propriety of Order of Re-trial in Criminal Cases

T Facts

he Appellant, then a serving Police Inspector attached to the State C.I.D, Panti Yaba, Lagos was arraigned alongside seven others on two counts of murder and preventing the course of justice, contrary to Sections 319(1) and 126(1) respectively of the Criminal Code Law of Lagos State, 2003. He was alleged to have caused the death of a certain Ndudiri Onyekwere (while in police custody), a suspect being investigated in a case of armed robbery. After trial commenced and PW1 had testified, it was realised that his plea had not been taken; at that stage, his plea was taken and he pleaded not guilty to the count of murder. During trial and after the testimony of PW2 and PW3, the prosecution applied to withdraw the initial Charge and same was withdrawn without objection from the defence. Nevertheless, on 27/2/2006, the attention of the Court was drawn to the amended Charge, but the Charge which contained a single count of murder against the Appellant, was neither read to him nor his plea taken. Trial continued on the Amended Charge. Parties concluded their cases, adopted their addresses and judgement delivered; the Appellant was found guilty and sentenced to death by hanging. Being dissatisfied with the decision of the trial Court, the Appellant appealed to the Court of Appeal, where it was successfully argued on his behalf that the failure to comply with Section 215 of the Criminal Procedure Law amounted to a breach of the Appellant’s fundamental rights. The lower Court quashed the conviction and sentence of the Appellant, and ordered that the case be remitted to the Honourable Chief Judge of Lagos State for re-assignment to another judge for fresh trial. The Appellant further appealed to the Supreme Court. Issue for Determination The sole issue for determination was: Whether the order for re-trial made by the Court of Appeal without giving any reason or considering the circumstances of the Appellant’s case, was proper? Arguments The Appellant submitted that, the lower Court did not provide a basis for ordering a re-trial and none can be deduced from its judgement. Relying on the case of YESUFU ABODUNDU & ORS v THE QUEEN (1959) 1 NSCC 56 AT 60, it was further submitted by Counsel that all the conditions laid down by the Court in the case referenced, must exist conjunctively before an order of re-trial can be made, and that since the facts did not co-exist in the instant appeal, the order of re-trial/fresh trial was not proper. For the Respondent, it was contended that the Court of Appeal complied with the guiding principles for an order of re-trial. Learned Counsel therefore, urged the Supreme Court to affirm the order of fresh trial made by the Court of appeal and dismiss the appeal. Court’s Judgement and Rationale In determining the appeal, the Court noted the laid down principles governing an order of re-trial in criminal cases. A Court must be satisfied that: (a) there had been an error in law or an irregularity in the procedure; (b) leaving aside the error, the evidence taken discloses a substantial case against the Accused person; (c) no special circumstance to render it oppressive to put the Accused person on a trial the second time; (d) the offence (s) which the Appellant was convicted are not merely trivial; and (f) to refuse an order for a re-trial would occasion a greater miscarriage of justice than to grant it. The above circumstances must co-exist before an order of re-trial is made. An order for fresh trial or trial de novo is not automatic or a matter of course once the trial is declared a nullity. Each case must be considered in its peculiar circumstances which forms its background. Where an order of re-trial would be oppressive, the order should not be made. ABDULLAHI MOHAMMED v THE STATE (2013) 218 LRCN (PT. 2) 48. The Supreme Court agreed with the submission of Counsel for the Appellant that, it is settled

Sidi Dauda Bage, JSC

In the Supreme Court of Nigeria Holden at Abuja On Friday, the 30th Day of June, 2017 Before Their Lordships Clara Bata Ogunbiyi Kudirat Motonmori Olatokunbo Kekere-Ekun Ejembi Eko Paul Adamu Galinje Sidi Dauda Bage Justices, Supreme Court SC.549/2013 Between Inspector John Onwe ........ Appellant And The State ........Respondent Lead Judgement delivered by Hon. Sidi Dauda Bage, JSC

principle of law that before an order of retrial is made, it is necessary to consider the proceedings of the trial Court and to examine the

"IN ARRIVING AT A DECISION TO ORDER A RE-TRIAL, THE APPELLATE COURT SHOULD CONSIDER THE EVIDENCE ON WHICH THE ACCUSED PERSON WAS TRIED. IF THE EVIDENCE LEADS TO POSSIBLE DOUBT OR CREATES REASONABLE DOUBT, AN ORDER OF RE-TRIAL IS NOT APPROPRIATE"

evidence led as well as the entire circumstance of the case. Therefore, all the factors must co-exist before a case may be sent back for re-trial. ABODUNDU v THE QUEEN (1959) SCNLR 162. Applying the stated principle of law, the Court noted that the important consideration in deciding whether or not to order a re-trial, is whether the evidence as a whole, discloses a substantial case against the Appellant and whether there are such special circumstances as would render it oppressive to put the Appellant on trial a second time or to order him to be re-tried. KAJUBO v THE STATE (1988) 1 NWLR (PT.73) 721–742 G-C. In this case, an examination of the proceedings of the trial Court, shows that all the stated factors did not co- exist. The Court of Appeal abandoned all other issues in the appeal, and considered only the issue No. 2 relating to Arraignment under Section 215 of the Criminal Procedure Law. Upon finding that Section 215 was not complied with by the trial Court, the Court of Appeal quashed the trial, conviction and sentence and ordered a fresh trial. The Lower Court did not consider and resolve the first issue in the appeal, relating to material contradictions in the evidence upon which the Appellant was tried and convicted. The Court of Appeal, not being a final Court, was enjoined to consider and resolve all issues raised in the appeal. Before making an order of fresh trial, the Appellate Court ought to have considered whether the evidence at the trial High Court justified the order for fresh trial. In arriving at a decision to order a re-trial, the Appellate Court should consider the evidence on which the accused person was tried. If the evidence leads to possible doubt or creates reasonable doubt, an order of re-trial is not appropriate. The order for fresh trial of the Appellant in this case, was made notwithstanding the bad state of the evidence led at the trial and the glaring material contradictions in the evidence of the Prosecution, which should have been resolved in favour of the Appellant. The Court of Appeal did not consider the record of proceedings as a whole, and satisfy itself that the evidence disclosed a substantial case for proper trial of the Appellant. Their Lordships opined that, to subject the Appellant to another trial on the pieces of evidence that were contradictory which may lead to an acquittal, would serve no useful purpose. Having concluded that the Arraignment of the Appellant was faulty and rightly setting aside the judgement of the trial Court, in the absence of and co-existence of the necessary factors governing an order of re- trial, there was no justifiable reason for the Court of Appeal to order a fresh trial of the Appellant who had been in custody since 2002. Where from the totality of the evidence at the trial, the Appellate Court can do justice between the parties and bring litigation to an end, an order for fresh trial is neither the best nor proper. EJINDU v OBI (1997) 1 NWLR (PT. 483) 505. Even in murder cases which attract death penalty as in this case, a re-trial will not be ordered to assist the Prosecution to fill the lacuna noticed during the abortive trial or mistrial. When a trial is declared a nullity, an order of re-trial shall only be made, if and only if, the interest of justice so demands. On this note, the Supreme Court found the appeal meritorious and allowed same. The conviction and sentence of the Appellant by the trial Court for murder was set aside, and the order remitting the case to the Chief Judge for re- assignment for fresh trial was also set aside. In its place, an order discharging and acquitting the Appellant on Charge No. ID/38C/2003 was entered in favour of the Appellant. Appeal Allowed. Representation: Ocha Ulea Ede, for the Appellant A. Oshiwusi (Ms) D.D., D.P.P. Office, Lagos State Ministry of Justice; O.A. Olugasa, C.S.C., Lagos State Ministry of Justice for the Respondent. Reported by Optimum Publishers Limited (Publishers of the Nigerian Monthly Law Reports (NMLR))

17.10.2017

NEWS/5 Lawyer Demands N165m from Hyundai Motors for Alleged Sale of Defective Vehicle

L-R: Former NBA President, Chief Wole Olanipekun, SAN, Acting Chief Judge of Lagos State, Hon. Justice Opeyemi Oke, Lagos State Attorney-General and Commissioner for Justice, Mr. Adeniji Kazeem and Hon. Justice Taoﬁquat Oyekan-Abdullahi at the Bar and Bench Forum held last Tuesday

Olanipekun Admonishes Bar, Bench Members to Shun Corruption, Unethical Practices Stories by Akinwale Akintunde Former President of the Nigerian Bar Association (NBA) and Senior Advocate of Nigeria, Chief Wole Olanipekun, has admonished members of the Bar and Bench, to shun corruption and unethical practices in the legal profession. Olanipekun said judges and judicial workers constitute the court, and that judicial workers should maintain very high moral standards. He gave the admonition in his keynote address last Tuesday, at the Bar and Bench Forum, which was part of the activities to mark the 2017/2018 Golden Jubilee Legal Year in Lagos. Speaking on ‘Promoting a PaceSetting and Productive Judiciary in Lagos State', Olanipekun said a judge has no business being corrupt or corrupted. “Your Lordships are not only expected to be impartial, decent, courteous, fair, sober, reflective and God-fearing. “In my honest opinion, and I want to believe that of many Nigerians share this humble thought of mine, a judge has no business being corrupt or corrupted. “A judge should not be influenced or be compromised by other factors or nuances, other than the law and facts of the case placed before him”, he said. “Can the pacesetter status of

the judiciary in Lagos State be enhanced, if our judges have to work with miscreants, saboteurs, rogues, infidels, criminals, touts and delinquents, as registrars, court clerks, bailiffs, sheriffs, personal assistants etc? “A judge alone does not constitute the court, but a court is constituted by the judge, counsel, registrars of all cadres, bailiffs, secretaries etc. “A judge does not know whether any of his aides, registrars or any lawyer has been using his name, title and office, to collect bribes purportedly meant for him from litigants. “Examples are legion, but the fact remains that, no judge is a knight-errant and no judge or human possesses the attributes of God, who alone is omniscient and omnipresent. “Any of these staff of the judiciary who has been caught engaging in any unscrupulous activity aimed at tarnishing the image of the judiciary, or bringing it into opprobrium, should not be treated with kid gloves", he said. The ex-NBA President, decried the insufficient number of judges adjudicating thousands of cases in courtrooms in the State, compared to their counterparts in the Federal High Court. He pointed out that, Lagos State Judiciary, deserved the sympathy and understanding of both the Government of Lagos State and the National Judicial Commission (NJC).

“In 2015, 3,447 civil cases and 337 criminal ones were filed in the Lagos State High Court, making a total of 3,784; in 2016, the number increased significantly, to 3636 civil cases, with 636 criminal cases, making a total of 4,272. “From Jan. 2017 to Oct. 4, 2017, 2,895 civil cases and 743 criminal cases have been filed, making a total of 3548 cases recorded thus far, while the number will exponentially increase before the year runs out. “At the Federal High Court Abuja, a total number of 3,963 cases were filed between 2015 to 2017; yet the Federal High Court has about 100 judges, as against 56 judges of the Lagos State Judiciary. “If any State Judiciary deserved the sympathy and understanding of both the Government of Lagos State and the National Judicial Commission (NJC), it is the judiciary of this State, which urgently needs more hands. “For 56 judges to take charge of well over 12,000 cases pending in the High Court of Lagos State, is unrealistic, as that State Judiciary does not need anything less than 100 judges for now", Olanipekun said. Olanipekun charged the State Judicial Service Commission (SJSC), to ensure early appointment of a successor for the office of the Chief Judge, adding that succession process

should be seamless. “Since the SJSC is aware that the Hon. Justice O.Oke will retire constitutionally on June 10, 2019, and since the Chief Judge is also the Chairman of the SJSC, the process for appointment of a successor should begin sufficiently in earnest. “As Justice Oke retires on June 10, 2019, her successor should be sworn in, not in acting capacity, but in substantive status as Chief Judge of Lagos State on June 11, 2019", the SAN said. He also charged Justice Opeyemi Oke, the Acting Chief Judge of Lagos State, to be fair, work as a team with her colleagues, and expressed confidence that she will take the Lagos Judiciary to the next level. In her remarks, Justice Oke said it's a new dawn for the Lagos State Judiciary, as she is set to bring about revolutionary reforms in the State. According to Oke who chaired the event, part of the reforms of her administration, is that lawyers will now serve as court registrars. The Acting Chief Judge, also restated her commitment to flush out all bad eggs giving the State Judiciary a bad name. She added that a committee headed by Justice Kazeem Alogba, has been set up to prepare the 2018 rules of court.

Unnecessary Adjournments Could Cost You Your Practice Licence, Lagos CJ Warns Lawyers The Acting Chief Judge of the Lagos State Judiciary, Justice Opeyemi Oke, has warned lawyers in the State to henceforth, desist from requesting for unnecessary adjournments. Justice Oke said any lawyer caught in such practice, would risk losing their practice licence. The Acting Chief Judge gave this warning, at the 2017/2018 new legal year service held at the Anglican Church of Nigeria in Lagos, last week. Justice Oke also warned members of the judiciary, that it would no longer be business as usual in the State, adding that judicial officers would now be mandated to sign an oath of secrecy, as a way of instilling discipline in the judiciary. She stated that, all supporting

staff of judges would henceforth, swear the oath of allegiance and secrecy. “It would no longer be business as usual, because it is a new dawn for the judiciary. All members of the judiciary would from now be accountable for their actions and attitude. “We the Lagos State Judiciary, are ready to work and we appeal to members of the Bar to help us. We say no, to unnecessary adjournments. This practice is not acceptable in Europe. We need to build a judiciary of our dreams. “We will uphold the rule of law in interpreting laws; stamp out all forms of official corruption; make a speedy dispensation of justice. “Our mission is to work

towards a judiciary, that epitomises discipline, honesty, hardwork and integrity. “I am also using this opportunity, to appeal to the members of the Bar, because we cannot achieve this alone. “We need you in order to stop corruption, laziness and tardiness, because we want to work. “We are not going to allow unnecessary adjournments, because there are certain things members of the Bar do here, that they won't dare do in Europe or America. “Unnecessary adjournments will cost you your practicing licence. Lagos State judiciary is a role model, not only in Nigeria, but in Africa and the world at large.

“We have sworn an oath, and we have members who have not sworn to anything. We want to let them know that every member must swear to that oath and stand by it," she said. Also speaking at the new Legal Year church service, Lagos State Governor, Mr. Akinwunmi Ambode, restated his administration's commitment to continue to promote the rule of law. “Let me use this opportunity, to re-state the commitment of this Administration to promote the rule of law and regenerate a new era of economic prosperity for our dear State. “I am confident that under

CONTINUED ON PAGE 6

A Lagos based Lawyer, Mr. Wale Ogunade, has demanded the sum of N165,595,000.00 from Hyundai Motors Nigeria Limited, as the purchase price and general damages for allegedly selling a defective automobile to his clients, Mr. Ayo Oluwatosin and Starcoms Media Services Limited. Ogunade, in a letter dated September 19, 2017, written to the Managing Director of Hyundai Motors Nigeria Limited, stated that his clients purchased a Hyundai Grand Santa Fe luxury GLS3.3l, along with four (4) other units of vehicles from the Ikeja outlet of Hyundai, in which the said vehicles were delivered on October 6, 2016. According to the Lawyer, upon delivery of the said vehicle with Reg No: LND 996 EH, it was put to use between October 21 and 26, 2016, before discovering that it had a brake problem which was indicated on its dashboard. The letter read in part: “Our client further informed us that it immediately drew the attention of your company to the brake problem of the said vehicle, and of which it was taken to your company’s service centre for repairs on the 27th day of October, 2016. “Subsequently, the said vehicle, was yet again taken twice by your company for repairs for the same issue and when returned to our client, the situation did not abate. “Our client further informed us that after a long back and forth, a meeting was held with some representatives of your company on the 18th day of July, 2017, wherein our client expressly informed your representatives, that the only solution to the issue, is a refund of the amount paid for the said vehicle, plus interest and that your company take back the said vehicle as stated in paragraph 3 of our client’s letter to your company dated the 26th day of July, 2017. “Our client further informed

us that, a representative of your company in the person of Mr. Fatai Olatunji Ibrahim, visited our client at its office to pick up the said vehicle, our client was later informed that the purchase price would be refunded, after the sale of the said vehicle. “Our client has explicitly made it clear to us that, it will not be party to any deal that will further endanger the lives of fellow Nigerians and so, appalled by the fact that your company insists on reselling the said vehicle to a third party, before refunding our client’s money, which is contrary to the agreement reached during the meeting held on the 18th day of July, 2017 with representatives of both your company and our client in attendance”, the letter read in part. “We view this overall conduct of yours, as not only a breach of contract, by selling a product that is not fit for purpose, but also an attempt to involve our client in an unwholesome act, which is fraudulent”, Ogunade stated. The Legal Practitioner therefore, requested Hyundai Motors to pay the sum N15,595,000 only being the purchase price of the vehicle; the sum of N50,000,000 only for breach of contract for the said vehicle not being fit for purpose, and another sum N100,000,000 only for general damages, for the inability to put the car to use for which it was purchased. Following refusal of Hyundai Motors to accept responsibility, Starcom Media opted for legal action. In suit LSW/11-16/130/ W1 filed before Lagos MultiDoor Courthouse, the company prayed for a total refund of the purchase money. Hyundai Motors, however, denied culpability having according to it conducted extensive pre-delivery on every component part of the vehicle, and that all were found to be in perfect condition before handing the said vehicle over to the customer.

Firm Challenges Order to Transfer $10.5m to Unknown Third Party INT Towers Limited, an operator in the telecoms sector, will on Thursday, October 19, 2017, move an application seeking for leave to appeal against what it called a strange order by a Magistrate Court. Magistrate W.B Balogun, sitting at Igbosere, had ordered INT Towers to transfer $10.5million to the account of a company known as Emirates Fuel Exploration and Production Limited. The Magistrate gave the order, while ruling on an application filed by the Lagos Commissioner of Police and Managing Director of Emirates Fuel, Akin Jegede. The Police claimed that, the money was obtained from Jegede by fraudulent means. However, INT Towers said it was not a party to the suit, nor does it have any business dealings with any company

known as Emirates Fuel Exploration and Production Limited. It said the Police has also not provided any evidence, about how it received the money from Jegede and his company. INT Towers, has applied for a stay of execution of the order. It is also praying, for an order granting it leave to appeal against the ruling delivered on September 19. The Magistrate ordered INT Towers to deposit the money, which is in its Ecobank Plc account, to an account belonging to Emirates Fuel Exploration and Production Limited. The Magistrate ruled on an application brought by the Lagos Commissioner of CONTINUED ON PAGE 13

17.10.2017

NAFDAC Seeks Life Sentence for Drug Counterfeiters Stories by Akinwale Akintunde The National Agency for Food and Drug Administration and Control (NAFDAC), said it has presented a Bill, seeking life sentence for drug offenders and counterfeiters. Acting Director General of NAFDAC, Mr. Ademola Magbojuri, who stated this in Lagos last Wednesday at a press briefing, said this is one sure way for the fight against fake drugs in Nigeria, to be successful. Magbojuri said the Bill to review the Counterfeit and Fake Drugs and Unwholesome Processed Foods (Miscellaneous Provisions) Act Cap C34 Laws of the Federation 2004, had last November, scaled through the third reading stage at the Senate. He therefore, urged the House of Representatives

to hasten the passage of the Bill. The NAFDAC boss disclosed that, the agency is involved in the prosecution of over 64 counterfeit/ fake NAFDAC regulated products cases across the country. “As part of our renewed effort to rid the country of counterfeit medical products, the agency has been carrying out coordinated nationwide enforcement operations in different parts of the country, where large consignments of the counterfeit medical products and drinks were impounded. “Surveillance and enforcement operations at our ports, borders and identified routes used by smugglers, have been intensified leading to increased seizures of fake NAFDAC regulated products. “Besides, very soon, importation and marketing

of fake and substandard drugs will become capital punishment offence. “Honestly speaking, bringing in fake drugs, is as bad as an armed robber shooting at a person. So if an armed robber could be sentenced to death, I do not see why somebody who is involved in illegal or fake drug business, should not be sentenced to death. “The Bill to this effect has already scaled through at the Senate, I think it is before House of Representatives now, and I believe that in a short period of time, it will be pass and be sent to President Buhari for his assent", he revealed. He further revealed that, on Tuesday at the Federal High Court, Lagos, the Agency secured five years conviction against one Kenneth Chibukola Chiekwe, who imported

Policemen Frustrating Execution of Court Order, Lawyer Tells IG A Lagos-based lawyer, Mr. Kayode Fasetire, has appealed to the Inspector-General of Police, Ibrahim Idris Kpotum, to call to order, some of his officers who are being used to frustrate a court order in Lagos. Kayode who is counsel to Redorn Realtors Ltd., said his client obtained a court order for the possession of a property located at 31a & b Gafar Animashaun Street, Victoria Island, Lagos, but that since they took possession, some mobile policemen have been trying to illegally reinstate the former owner into the property. The lawyer said his client bought the said property from Sterling Bank Plc in 2015, but that all their efforts to gain entry into the property has been continuously frustrated by mobile police officers on the orders of someone within the top echelons of the police force. Narrating the circumstance surrounding the ownership of the building, Fasetire said the former owners of the property, Tonique Oil Services Ltd., lost its ownership after failing to pay back a N2 billion loan facility it secured from Sterling Bank Plc. He said his client subsequently, decided to buy the said property, which was on sale from Sterling Bank Plc at a cost agreed by both parties. Fasetire further noted that his client, duly obtained a court order from a Lagos Magistrate Court for possession of the property which was

served on the occupant. “On 18 August, 2017, we took possession of the property only for the Managing Director of Tonique Oil Service Ltd, Tony Adejuigbe, to storm the property three days after with some policemen and some thugs. “We reported the matter to Maroko Police station and he was subsequently arrested, but later released on bail.

“We were shocked, when on Friday, another set of Mobile police officers again stormed the property. We have been unable to ascertain who sent them, and what their mission is on the property. We believe someone high up in the police, is using them to undermine the court orders”, he said. He appealed to the IG, to urgently look into the matter, to avoid break down of law and order.

fake cough syrup. “The convict was convicted under Section 1 (a) of counterfeit and fake drugs and unwholesome processed foods (miscellaneous provisions) Act Cap 34 LLNP 2004 and punishable under Section 3 (1) (a) of same Act”, he stated. Magbojuri listed other recent convictions secured by NAFDAC for fake drug manufacturers or peddlers, to include that of Sylvanus Ifeanyi Nwanoro and Osita Paul Ely who bagged five years each, Clara Onah, who bagged seven years, Okwara Emmanuel, who got three years and Oyibo Juliana Madu who got an option of N55,000 fine, for the sale of unregistered wines. NAFDAC Director of Investigation & Enforcement, Mr. Kingsley Ejiofor, urged the public to spread the message on the danger of counterfeit drugs. Ejiofor identified several constraints faced by the Agency, including the incessant transfer of investigating police officers involved in prosecuting offenders. “Sometimes when they transfer them, to get them to come back to prosecute is a problem. Another one is when suspects are granted bail; some of them jump bail and are never found again. Ejiofor encouraged firms, to include NAFDAC in their Corporate Social Responsibility (CSR) programmes. “We need all the support we can get, such as vehicles to convey people, materials etc”, he said.

UNNECESSARY ADJOURNMENTS COULD COST YOU YOUR PRACTICE LICENCE CONTINUED FROM PAGE 5 the current leadership of the Acting Chief Judge, Hon. Justice Opeyemi Oke, the good people of Lagos State are assured of prompt and fair dispensation of justice, innovations and more reforms that will improve the administration of justice nationwide. Ambode said Lagos State Judiciary since its creation in 1967, has continued to grow in leaps and bounds, adding that the volume of cases handled by the Judges and Magistrates, has necessitated the appointment of additional Judges and Magistrates with improved welfare and continuous infrastructural developments, to further enhance the quality of justice delivery in the State. “The judicial arm of the government, remains the

only and lasting beacon of hope, fairness, and justice to all citizens, while the legal profession has a vital role to play in promoting the cause of justice, protecting human rights and upholding professional standards. It is in fulfillment of our promises to advance the cause of justice, that the first DNA and Forensic Centre was commissioned to aid investigation and dispensation of justice. “Though we are autonomous arms of the same Government, I must emphasise that our success as a Government, lies more in our interdependence and collaboration, which must be undertaken without hindering the independent discharge of our different functions. I assure you of my continuous support and partnership as the Judiciary discharges its statutory

responsibilities", the Governor noted. The Most Reverend Dr. Adebola Ademowo, the Diocesan Bishop of the Anglican Church of Nigeria, called on members of the judiciary to put God first. “The appointment of judges, is traceable to God himself. God appointed judges like Deborah and Ehud, to rule over the affairs of Israel. “I charge our Judges, to administer Justice without fear or favouritism. Your primary duty, is to discover the truth. You are adjudicators, umpires, and even interpreters of the law, and a lot of people are looking up to you. “As legal luminaries, it is your duty to do your work without minding whose ox is gored," the Reverend said.

Legal Personality of the Week Solomon Ugochukwu Ezike

‘Consistency, Passion, Dedication and Diligence Make a Successful Law Career’

solve their problems, by providing legal solutions to their issues. I believed that studying law would give me the pedestal to realise this ambition.

My name is Solomon Ugochukwu Ezike. I am a Legal Practitioner with G. Elias & Co., one of the foremost and leading business law firms in Nigeria. I am a graduate of the University of Calabar and the Nigerian Law School. I am a member of the Lagos Court of Arbitration; International Trademarks Association; Intellectual Property Lawyers Association of Nigeria; Young International Arbitration Group of the London Court of International Arbitration; and Oil, Gas and Energy Law Forum. I was a member of the Panel of Inquiry set up by the Commissioner of Police, Lagos State in September 2017, to probe allegations of corruption and unethical conducts, levelled against some police officers in Lagos State. I was also recognised in the International Intellectual Property Magazine (2017) of Informa Law Plc (a London based rating organisation), as a leading Intellectual Property lawyer. My areas of practice and interest, include dispute resolution, arbitration, intellectual property, corporate, commercial, energy, natural resources and environmental law. I have published articles in leading international journals, on some of these areas of law. I have also advised extensively and litigated on these aspects of law. In the course of my career, I have advised and acted on some of the most complex, local and international transactions. Occasionally, I take up pro bono criminal matters. I am also a regular guest on ‘The Court House,’ a weekly programme on Loveworld Plus Television, where I address several legal issues. I am a devout and passionate Christian, and I am happily married.

the main challenges? Every profession comes with its own unique challenges. One of the challenges, is in the interpretations of the law, and its application to various individuals and different situations. You see, the law is more logical than emotional, and one has to be precise and definite in applying the law to provide the solution each scenario demands. Another challenge I’ve had is with the slow process of our judiciary.

Have you had any challenges in your career as a Lawyer and if so, what were

Who has been the most inﬂuential in your life?

What was your worst day as a Lawyer? My worst day as a Lawyer, would be the day the Court abruptly entered judgement against my client, because my client did not file his defence on time. It was quite frustrating, and happened so speedily. The Court overlooked the fact that, my client had an application to regularise the filing of the defence that was filed out of time. The Court maintained that since there was no evidence of payment of default fees for filing the defence out of time, the application to regularise the defence was incompetent, and struck it out. Before I could explain further, the Court shut me out and entered judgement against my client. What was your most memorable experience as a Lawyer? That would be the day that the Supreme Court allowed my appeal, against the concurrent judgements of the High Court and the Court of Appeal. That judgement led to the discharge and acquittal of the accused, who had been convicted and sentenced to death. It felt really good to be a part of the process, that gave a man a second chance at life, and gave him and his family hope.

Solomon Ugochukwu Ezike

A number of people have been very influential, in the course of my life and career. One of them is my mother, Mrs. Florence Ezike. I have never seen a woman of faith, prayer and integrity, like her. Through her hard work, love and sacrifice, I was able to realise my ambition of becoming a lawyer. My dear, lovely wife, has also been a great pillar of support and motivation. Another figure that has impacted me in no small measure, is Rev. Dr. Chris Oyakhilome. The Word of God that he teaches, has greatly enriched my life. My professional career has been greatly influenced and shaped by the Principal Partner of G. Elias & Co., Prof. Gbolahan Elias, SAN, and Mr. Fred Onuobia, the Managing Partner of G. Elias & Co., who have taught me a whole lot about the intrigues of this beautiful profession. Why did you become a Lawyer? I became a lawyer to fulfil a childhood dream and passion to help people achieve their goals and

What would your advice be to anyone wanting a career in Law? First, you need to have a clear vision on why you want to pursue a career in law. If the aim is for “quick” riches, you might want to consider some other careers. Do not have the “over-night” success mentality as a Lawyer. You need amongst others, consistency, passion, dedication and diligence to have a successful career in law. Further, there are many aspects of law, and you will need to decide where you want to focus your abilities. Knowing why you want to study law, should help you decide which area to focus your passion and energy. As cliché as it sounds, knowing who you are and being able to properly apply your skills, talents and abilities, is key to having a successful career as a lawyer. Another advice is to never stop learning. Keep updating your knowledge base. Subscribe to various journals, and read up on various aspects of the law practice. The law can be interpreted in various ways, and you want to know how best to interprete it and take advantage of it for your client. If you had not become a Lawyer , what career would you have chosen? I can’t think of anything else I’d have wanted to be. Right from my childhood, I had always wanted to become a lawyer. Maybe I would have been an entrepreneur, a businessman or a priest. But law has always been my first passion. Where do you see yourself in ten years? My ambition is to get to the peak of my career in the legal profession, and also be an authority on an aspect of law that has always been of utmost importance to me.

17.10.2017

SPECIAL REPORT/7

The Unsatisfactory State of Our Justice System (3) Slow pace of reforms failing the Nigeria Police In this third, in a series of write-ups on the unsatisfactory state of our Administration of Justice System, Olawale Fapohunda and Onikepo Braithwaite, argue that the Nigeria Police in its present state, cannot secure the conﬁdence and cordial cooperation of Nigerians. They decry the slow pace of Police reforms, while proposing an actionable reform agenda, for the consideration of President Muhammadu Buhari

and frequently abused themes in police management in Nigeria. In a previous article, we said that the Nigeria Police appears to have misunderstood the essence and concept of community police. Organisational tinkering and advertisements on national television stations, cannot by any stretch of imagination be labeled community policing. We said that community policing, is not a program that can be launched like a book launch. It is a value system in which the primary organisational goal, is working cooperatively with individual citizens, groups of citizens, and both public and private organisations, to identify and resolve crime, safety and security issues. In our view, the road to community policing, must first start with citizens confidence in the police. We are not there yet.

Paying Lip Service to Police Reform here has been almost two decades of discussion on police reform by government created committees and commissions. Previous governments implemented none of their major recommendations. The promise of the Buhari administration, of a radical overhaul of the Nigeria Police, has not been met either. So far, we have seen a miserable combination of limited reforms or no reforms, in making the police relevant to the security needs of Nigerians. Even in the face of terrorist attacks on our major cities and villages, including rampaging herdsmen, kidnappers, violent armed robberies and the serious internal threat from Boko Haram, the political class continues to pay lip service to police reforms. Ideas on strengthening the intelligence gathering ability of our police, bringing about coherence and coordination between the police and different security agencies, enabling our cities with infrastructure to deter terrorist attacks, and most importantly, making police people-friendly and more acceptable to Nigerians, have been met with the lackadaisical attitude of political authorities, and are mired in politics. Key Areas of Reforms: The reform of the Nigeria Police, will require a wide range of reforms aimed at making the institution accountable and service-oriented. It is worth restating, for emphasis, many of the suggested proposals for police reforms. Law Reform The enactment of an appropriate legal framework, is an important step towards ensuring sustainable reform of the Nigeria Police. In this regard, one needs to note that, the basic framework for policing in Nigeria was made way back in 1968 with little changes till date. A bill to amend the Police Act, was first debated in the House of Representatives in 2000. More than 16 years after, neither this bill nor the subsequent ones proposed by members in the Senate and House of Representatives, have not managed to be passed into law by either House. It is beyond comprehension, that having failed or neglected to review the archaic Police Act, the House of Representatives is presently debating a Police Trust Fund Bill. A tragic case of putting the cart before the horse. One is simply unable to appreciate the rationale behind the enactment of a law to fund an institution, whose enabling law is presently irrelevant to the needs of the police or that of Nigerians. The House of Representatives either failed to recognise, or conveniently ignored the fact that, most of the ills afflicting the Nigeria Police could be ascribed to the system established by the Police Act of 1968, and the philosophy of policing that was prescribed. The Police Trust Fund Bill, is certainly not the antidote to the ailment afflicting the Nigeria Police. Conditions of Service The key resource available to the Nigeria Police to fulfil its mandate, is the human resources at its disposal. This page has severally called for a holistic review of the conditions of service of police officers, to undercut the incentive for corrupt behaviour. This includes the review of salaries, welfare benefits, insurance and the police pension scheme. Of utmost importance, is the need to intervene in the working environment of police officers. The practice of housing police stations in improvised accommodations, is a major concern. Majority of police stations in Nigeria, do not meet minimum conditions for police work, including the detention and interrogation of persons who come into conflict with the law. Anti- Corruption Measures A culture that attaches no stigma to corruption, is an ingredient for inefficiency and corruption. The lukewarm

Summing Up Providing a sense of security to all Nigerians, irrespective of money, ethic group, gender or any other difference and attending to their grievances, is dependent on the establishment of a police, which is efficient, honest and professional to the core. The fact that such a police does not exist in Nigeria, is attested to by the findings of the various commissions and committees, the complaints received by the human rights commission, the stories reported by the press, and the experiences of the common people on the streets. The need for police reforms is therefore, self evident and urgent. Inspector General of Police, Ibrahim Idris

enforcement of an efficient and credible performance appraisal system, linked with an adequate and transparent reward and punishment mechanism within the Nigeria Police, is an important concern. A punishment- and rewards- based system, is critical to minimising corruption. Strong accountability mechanisms and attractive compensation policies, are essential elements of a corruption-free system. There is a need for a strong system of Public Finance Management, that ensures that the funds budgeted and released to the Nigeria Police, are utilised for the intended purposes, and that sufficient transparency allows for public verification. Complaints Handling There is considerable unhappiness, with the system of inquiring into complaints against the police. In many parts of the South South and the South East, complaints of abuse, torture and extra judicial killings against officers of the Special Anti Robbery Squad (SARS), have become almost the norm. Investigation of police officers by their own, is widely regarded as unjust, and does not inspire public confidence. No police accountability mechanism, can be considered fair if it fails to inspire public confidence. The trend all over the world, is to set up an independent complaints authority to inquire into cases of police misconduct, which work openly, quickly, effectively, impartially and with adequate resources and authority to guarantee independent and fair investigations. Community Policing Community policing, is perhaps, the most misunderstood

"IT IS BEYOND COMPREHENSION THAT HAVING FAILED OR NEGLECTED TO REVIEW THE ARCHAIC POLICE ACT, THE HOUSE OF REPRESENTATIVES IS PRESENTLY DEBATING A POLICE TRUST FUND BILL. A TRAGIC CASE OF PUTTING THE CART BEFORE THE HORSE"

Proposed Six Presidential Directives on Police Reform It will be a matter of much regret, if at the end of the Buhari administration, we have made little or no progress with police reforms. Achieving ‘change’ in the Nigeria Police, will not happen overnight. Nevertheless, the process of ‘changing’ the police must be accelerated, to keep up with the expectations of Nigerians, particularly those of the poorest and most vulnerable communities. We now suggest six legal, policy and administrative presidential directives, for the consideration of President Buhari. In our considered opinion, these directives provide practical measures for managing the transformation of the Nigeria Police. Directive 1: Direct the Ministry of Interior and the Federal Ministry of Justice, to draft a new Police Bill consistent with the spirit of the 1999 Constitution. The new law should be aimed at facilitating human rights, gender equality, pro-poor policing and enhancement of community policing. Further, the proposed law, should emphasise transparency in the appointment of the Inspector General of Police, through a meritocratic and competitive process with a fixed tenure of office. Directive 2: Direct the Ministry of Interior to review the reports of Presidential Committees on Police Reform from 1999, with a view to articulating their useful recommendations into an actionable agenda for police reform. Directive 3: Direct the Inspector General of Police to undertake an audit of manpower, vehicles, training institutions and other resources of the Police Force, with a view to identifying and prioritising specific areas of need for appropriate intervention. Directive 4: Direct the Secretary to the Federal Government, to formally appoint the National Human Rights Commission as Nigeria’s independent police ombudsman, with strong authority to receive complaints from the public on matters of police corruption including, abuse of power and extrajudicial killings. Directive 5: Direct the National Orientation Agency, to convene a National Dialogue on the desirability of State Police. While we strongly believe that what Nigeria’s needs today, is not a Federal or State Police, but an efficient and effective Police Service, the proposed national dialogue will provide an opportunity for citizens participation in the police reform process. Directive 6: Direct the Secretary to the Federal Government to convene an extra-ordinary meeting of the Nigeria Police Council, to receive briefings and make inputs into the implementation of Directives 1-5 as listed above.

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COVER/9 "I AGREE THAT, OUR COUNTRY IS IN A PRECARIOUS SITUATION POLITICALLY. NIGERIA IS SITTING ON A PRECIPICE, AND IS LIKE A TIME BOMB WAITING TO EXPLODE. HOW WE SUDDENLY GOT TO THIS POINT, IS WHAT CONTINUES TO AMAZE ME"

‘Law Should Be A Graduate Programme’ His tenure as Director General of the Nigerian Institute of Advanced Legal Studies, witnessed monumental innovations and advancements in the institution’s academic curriculum. Retiring from the Institute last year, Professor Epiphany Azinge, SAN, has since delved into private legal practice, while establishing his Foundation, and striving to set up a Private University in the next few years. Married to an academic who is also a Senior Advocate of Nigeria, Prof Azinge spoke with Onikepo Braithwaite and Jude Igbanoi on several issues, including his views on legal education in Nigeria, and his vision which has crystallised into the Epiphany Azinge Foundation being launched on November 13, 2017

ou recently took a radical view on legal education in Nigeria, when you advocated for the abolition of the Nigerian Law School. What informed this extreme position and what alternatives would you suggest? My comments with the greatest respect, ought not to be considered as radical in the first place. It was well considered and responsibly articulated. We all agree that the legal profession is a conservative profession, but it does not preclude us from projecting into the future. Was it not the great American jurist Hon Justice Benjamin Cardozo, who opined “that the inn that shelters the knight is not the end of his journey; the law like the sojourner must be ready for tomorrow; it must have a principle of growth”. The legal profession, indeed, legal education, must have a principle of growth. We must be ready for tomorrow. So it was from the prism of projecting to the future, that I made the call for abolition or rather scrapping of Nigerian Law School. My reason is based on facts. Firstly, that the law school admission, is growing in geometric proportion, given the noticeable increase in the number of law faculties in Nigeria. A situation where more than 1,500 students sit in one auditorium for lectures, is not better than a market place. No serious training, can blossom in such an atmosphere. Secondly, is that lawyers or members of the legal profession, ascribe too much importance to themselves. Often, this is

done without consideration for the sensibilities of other professions or disciplines. Have we ever paused to ponder why training of potential Lawyers should be funded from the coffers of the government and not for Medical Doctors, Engineers, Nurses, Architects, and Pharmacists? How many of these graduates of law school end up in government employment? So, why should it be the business of government to invest in their training? As Director General of Nigeria Institute of Advanced Legal Studies, I joined the other parastatals of Ministry of Justice, to appear before the Oransaye Panel in 2009 – 2010. The law school was subjected to serious inquisition on why they should be funded by Federal Government. It was a major issue, and all of us joined in arguing in favour of the law school. Not that we were convinced about the strength of our arguments, but because we wanted to be politically correct. I saw the white paper report, which recommended partial funding for the law school. My deduction is that, it is only a matter of time and there will come a Pharaoh that knows no Joseph, and funding of law school by the Federal Government will become a thing of the past. It was from this vantage position and in order to prepare for the unknown, that I made my proclamation. You can now understand, why it was not necessarily a radical proposition. Lastly, is that I am convinced that the much touted quality of law school products, is as a result of law not being upgraded to a graduate program. My position is that, the time has come for law to become a graduate programme. In other words, you must have a first degree

Professor Epiphany Azinge, SAN

before aspiring to get into legal education. But more significantly, I posit that the training in law school, can take place in the law facilities. All that is required is to harmonise the curriculum, and have the Council of Legal Education, conduct the examinations. You can imagine how elated I was, when my daughter who is rounding up her doctorate degree in law at Warwick University, called me to state that she was offered to serve in a committee being set up to work out modalities for law faculties to take up practical legal training in UK with effect from 2020. That, for me, is a vindication of my stance, and it shows that some of our strategic thinking is not only within the bounds of our localised environment Many are saying that the standard of legal education in Nigeria is on a downward spiral, thereby producing 'half baked' Lawyers. This is also an indictment on the lecturers. Kindly, comment on this. To accept that the standard of legal education is on a downward spiral in Nigeria, is to admit without qualification, that the standard of education in Nigerian has fallen to an all time low. What I mean is that, it is uncharitable to single out legal education. My thesis is that, three or four years spent in the law faculty, is nothing compared to the years in kindergarten, primary and secondary schools. Basic knowledge at our disposal, is that by the time you are ready for Jamb after SS3, the character is already formed. But more significantly, your all round knowledge, comprehension ability, capacity to express oneself in oral and written english, and the general analytical mind are clearly defined.

What the law faculty does, is to introduce you to legal scholarship and train you to reason like a lawyer. That is the basic distinction, between a lawyer and non–lawyers. English Language is not taught at law faculties. Indeed, you are expected to have a credit in English and in some Institutions in English Literature, to be qualified for admission to a law faculty. My position is that, once the stream is polluted from the source, it is difficult to remedy at the “confluence” or the “tributaries”. Yes, we have lawyers who have challenges expressing themselves in english language. Does that make them “half baked” lawyers? Perhaps no. Given the opportunity to communicate in another language, you possibly will appreciate their grasps of legal technicalities. I am not in any

"FIRSTLY, THAT THE LAW SCHOOL ADMISSION IS GROWING IN GEOMETRIC PROPORTION, GIVEN THE NOTICEABLE INCREASE IN THE NUMBER OF LAW FACULTIES IN NIGERIA. A SITUATION WHERE MORE THAN 1,500 STUDENTS SIT IN ONE AUDITORIUM FOR LECTURES, IS NOT BETTER THAN A MARKET PLACE"

way suggesting, that Lawyers should now be trained in vernacular. I don’t want to be tagged radical again in my thoughts. All I am saying is that, we must make excuses for that young man from the hinterland whose early exposure to school is in native language, without access to print or electronic media, and never read a literature book until late in his teens. He is bound to wobble in his attempt to communicate in english. But that does not make him “half baked”. As for indictment of the lecturers, that, I am afraid is embarking on a wild goose chase. Nigeria is in a precarious situation politically. There are agitations for restructuring, devolution of powers and some sections of the country are even demanding a referendum for outright self- government, while others issue quit notices to others to quit their region. What would be your advice to the Government under these circumstances? I agree that our country is in a precarious situation politically. Nigeria is sitting on a precipice, and is like a time bomb waiting to explode. How we suddenly got to this point, is what continues to amaze me. How I wish Nigerians as a whole are agitating for restructuring, devolution of powers, regionalism, self government referendum etc. Rather what we see is sectionalism, ethnicity and tribalism writ large. We have progressed from cynicism to mistrust, and suddenly it appears that the centre can no longer hold. One lesson you learn as a student of history, is that it is better to jaw- jaw than to war-war.

The last National Conference, gave Nigerians the opportunity, to ventilate our views about some of these issues. The National Assembly in its wisdom, embarked on a constitutional amendment exercise that highlighted some of these issues. Given the sectional perception at work, those against restructuring, devolution of powers etc outvoted those agitating for them. Politics, is generally regarded as a game of numbers. But building a nation demands more than numerical superiority. It requires inclusiveness, recognition of the importance of any group, no matter how small in number, creation of a semblance of harmony, peace and unity, absence of marginalisation or superiority complex, genuine integration and constructive engagement at all times. My advice to the Government of the day, is to open channels of engagement, dialogue with all the agitators, and endeavour to address some of the issues orchestrating the agitations. As a student of jurisprudence, the opinion of Dean Roscoe Pound, that law must strive to reconcile competing interests in society, appeals to me a lot. Government through the instrumentality of law (Constitution as the organic document), owes the people a duty to harmonise and reconcile these competing interests, in a way to reduce the spate of agitations and create the greatest happiness of the greatest number. This can be achieved, only through dialogue and respectable engagement. The law ﬁrm of Azinge & Co has continued to raise very engaging national issues at its annual Roundtable. The last one raised hot issues which are still being debated, especially whether Constitutional

Delimitation is a Legal or Political question. How has that sensitive issue been addressed? I appreciate the recognition of the humble contributions we are making from our law firm. Yes, we interrogated the subject of constituency delimitation exhaustively. The 1999 constitution of the Federal Republic of Nigeria (as amended), enjoins that Federal constituencies should be delimited or delineated not less 10 years. My position is that, since 1999 till date (about 18 years), no attempt has been made to redelimit constituencies. I raised this issue with Prof A. Jega while he was on the saddle, and he attributed the inability of INEC to delimit to Administrative challenges. That was, with respect, off the mark for a constitutional issue of such magnitude. I have opted once more, to bring it to the front burner of national discourse, so that we shall have enough time to address it this time, before the 2019 elections Modern democracies consider delimitation of constituencies, an essential ingredient in the conduct of elections. The approach is acceptable, regardless of the electoral system operational in a given society. The art of delimitation is the practice whereby the state or nation, is sub- divided into a stipulated number of constituencies. It basically ensures that, representation is fairly and evenly shared among the electorate. Electoral rights though simple and democratic, would lack the substance of true political democracy, if parliament is not evenly divided. Inextricably intertwined in the principle or concept of constituency delimitation, is the implied doctrine of “One man” one vote, one value”. In a host of cases starting with Baker v

Carr, the Supreme Court of US ably articulated the significance and importance of congressional reapportionment of electoral districts Whether delimitation of constituencies is a legal or political question, is clearly for the court to determine. Going by the litany of cases from US and other jurisdictions, the position which is widely acknowledged, is that citizens have the locus standi to contest issues of delimitation. What is not settled even in American jurisprudence, is whether the court can enter the “political thicket”. In some instances, the court did. In others, the court resiled. I am of the considered opinion, that given the provisions of the Nigerian constitution, it is clearly a legal, and not political question. Your tenure as Director General of the Nigerian Institute of Advanced Legal Studies saw quite a number of innovations, including the establishment of an e-library, a review and expansion of the curriculum of the Institute, and securing grants from donor organisations like the Theophilus Danjuma Foundation. How have these projects fared since you left ofﬁce as DG, though you are still there as Professor? Once more, I thank you for recognising my humble contribution as Director General of Nigerian Institute of Advanced Legal Studies. I am always quick to point out that, it was a team work, for which I cannot take absolute credit. My successor has continued and indeed, improved on the achievements recorded during my tenure. My prayer is for the Institute to continue to grow from strength to strength to the glory of God. I am aware that the Theophilus Danjuma Foundation grant is running smoothly and very soon, a major event from that grant will take place. Other projects are also running smoothly. Perhaps I need to add that I disengaged from the services of the Institute on the 1st of January 2016, when I voluntarily retired. I want to devote my time to the pursuit of fresh challenges, and explore the prospect of establishing a private University, and also run my Foundation creditably. This, without prejudice to the fact that I have since returned to the law firm, to reunite with my wife. Some have observed that, it is unethical that some Senior Advocates who applied through the platform of academics immediately after taking silk, jump into legal practice. Would you say this is a fair criticism? What is your view about it? I see nothing wrong or unethical about Senior Advocates of Nigeria (on Platform of Academics) going to court. The expression “Jump” into legal practice, presents them in bad light. A good number have always been in legal practice and their exposure in court, has proved immensely beneficial to students in class. Screening of applicants for award of the rank of Senior Advocate of Nigeria on the category of Academics, requires that they show evidence of payment of practicing fees and NBA dues respectively. Payment of practicing fees, presupposes that they have a licence to practice in the first place. No doubt, it is a greater honour for them to show off their new status, immediately after elevation. No one should begrudge them that entitlement. It certainly does not conduce to “Jumping” into legal practice. Do you think that the CJN's directive

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‘LAW SHOULD BE A GRADUATE PROGRAMME’ to all Chief Judge's to set aside at least one court to try corruption cases, is the panacea to concluding these cases quicker and handling the issue of corruption cases more efﬁciently in a bid to secure more convictions? I consider the CJN's directive, a step in the right direction. Trial of corruption cases, certainly has not moved with the speed of light. But it is generally believed that, we can do better in that regard. With the advent of the Administration of Criminal Justice Act, the thinking was that a solution to the problem has emerged. That does not appear to be the case. The move by the CJN, is yet another attempt to expedite trial proceedings. Let us hope that it will go a long way in speedy conduct of corruption cases. Even at that, Lawyers must not be spared for their role in securing unnecessary adjournments for suspects. In this regard, the judge must be firmly in control of his or her court to ensure that such subterfuges are well taken care of Lastly, the prosecution must have their witnesses and documentary evidence needed for trial, in place before initiating prosecution. More often than not, prosecutors have occasioned adjournment of trials more than the defence counsel, because of manifest lack of preparedness. Is there really a necessity for the recently created Corruption and Financial Crimes Cases Trial Monitoring Committee? Some have argued that even if there is a need for such a Committee, there is a problem with the membership of the Committee, especially with regard to Lawyers who may be handing corruption cases in various courts, being on the Committee. Kindly, comment on this? Again this is another attempt by the NJC, to expedite action in our courts. It is an established practice of NJC, to engage in performance evaluation of judges. This is an additional move, to ensure that judges are up and about as regards trial of corruption and financial crimes cases. I have raised a note of caution, that the process and procedure must not be such that may amount to breathing down the neck of judges and stampeding them to lose control of their courts. Furthermore, it must not intimidate them to compromise the independence they ordinarily should enjoy, and possibly erode their neutrality and impartiality in the cases being monitored. Once we can guarantee that the judges will not be cowed to lose control of their courts, then the issue of monitoring is perfect. As regards membership of the monitoring committee, the point has been made loud and clear, that those handling corruption cases should cease to be members. This can be modified to mean that, no member of the Committee, should monitor cases in a particular court

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where he is conducting any case whatsoever. It is therefore, the duty of the member to disclose courts where he is conducting cases, criminal or civil, and excuse himself from monitoring trials in those courts. What has been your experience so far as a member of the Commonwealth Secretariat Arbitral Tribunal (CSAT)? What is the role of the CSAT? Does your membership give Nigeria any advantages? Exciting, challenging, engaging and intellectually stimulating. I have found my membership, as a call to duty in the service of the commonwealth and member states of that body. To sit with 2 or 4 other members (firstly 3 for initial sitting and 5 for review of cases), affords you opportunity to share your knowledge, and appreciate the perspective of jurists from other climes on issues of Administrative Tribunal. The mandate of CSAT, permits it to handle disputes of employment contracts and administrative regulations involving staff of the commonwealth secretariats. It also extends in rare instances, to addressing issues between member states of the commonwealth with special regard to staff engagements. As you are aware, membership of CSAT is not by appointment, but by election. So you are put up to represent your nation, and other members of the commonwealth are invited to cast their votes. In my case, I not only represent Nigeria, I also represent Africa, as I am the only African presently sitting on the Tribunal. The advantages are obvious. It gives you access to the administrative hierarchy, protect the interest of Nigeria and Nigerians within the bounds of civility, and helps me build capacity in the area of Law of International Civil Service, which I am already sharing with other Nigerians. On the whole I consider it a worthwhile exposure. Arbitration still does not seem to have caught on properly in Nigeria. Why is this so? If it is the way forward especially with respect to decongestion of court dockets and quicker dispensation of justice, what steps must we take to make it more commonplace in Nigeria With respect, I want to posit that in the last 10-12 years, ADR generally seems to have enveloped Nigeria. Arbitration in particular, became common place in commercial agreements and transnational transactions. The challenge became apparent, when instead of becoming a veritable instrument for decongesting court dockets, it has turned to be become an avenue for elongation of dispute settlement. Like everything Nigerian, parties now see arbitration as the first lap of a marathon race. Arbitral awards rather than end arbitral proceedings, are now the precursor to court litigation. Parties now hide under all sorts of nebulous reasons, to appeal an award in the court. From there the

"TO ADDRESS THE FEARS OF THE IGBO’S, REQUIRES BRINGING THEM BACK TO THE MAINSTREAM OF GOVERNANCE BY APPOINTMENT TO RELEVANT PORTFOLIOS, AND REHABILITATION OF DECAYING INFRASTRUCTURE IN THE SOUTH EAST"

matter proceeds to the Court of Appeal, and then to the Supreme Court. No doubt, this defeats the whole essence of Arbitration. The so called speedy, informal and cheap process, has turned out to be expensive, slow and ultimately formalised through court proceedings. Many foreign investors, have not seen arbitration in Nigeria as capable of inspiring confidence, and most of them are scared of investing in Nigeria. The good news however, is that a practice directive has been issued recently by the Chief Justice of Nigeria, stating that no court shall entertain an action instituted to enforce a contract or claim damages arising from a breach thereof, in which the parties have, by consent, included an arbitration clause, and without first ensuring that the clause is invoked and enforced. The courts must insist on enforcement of the arbitration clause, by declining jurisdiction and award substantial costs against parties engaged in the practice. This, for me, is a step in the right direction. IPOB was recently proscribed by the Government. Were the steps taken to proscribe the organisation correct and appropriate? Do you believe that IPOB qualiﬁes as a Terrorist Organisation or that there was a need to proscribe it? Is this the way that Government should have gone about addressing the Igbo agitation against marginalisation? As far as the Terrorism Prevention Act is concerned, government followed the steps prescribed by law to the letter. To that extent, the proscription is in accordance with the extant law. Whether that makes it correct or appropriate, is a totally different proposition. My opinion may not matter, in determining whether or not IPOB has qualities of a Terrorist Organisation. Within the context of the law, the definition or categorisation, is from the prism of those the law has mandated to decide as appropriate. Bearing in mind that they have more facts at their disposal, it is only proper to defer to them in this regard. My point of departure however, is that when compared to other known terrorist organisations, IPOB truly has not graduated to that level. Perhaps, branding IPOB a terrorist organisation is a preemptive action, to degrade the activities of IPOB. I am of the considered opinion that, what government succeeded in doing, is to suppress the agitations of IPOB and by extension the cry of marginalisation of the Igbo’s. To address the fears of the Igbo’s, requires bringing them back to the mainstream of governance by appointments to relevant portfolios, and

rehabilitation of decaying infrastructure in the South East. Above all, is that Government must be willing to engage and dialogue with all people agitating for one reason or the other. Many are saying that the Legal Practitioners Disciplinary Committee and the Privileges Committee may be shirking their responsibilities, as quite a few Lawyers violate the rules of professional ethics frequently, and they get away with all sorts of atrocities, despite reports and petitions being made to these two bodies. Is there any truth to these allegations against the two Committees? I have never been a member of the Legal Practitioners Disciplinary Committee and to that extent, I cannot competently speak on their activities. However, I am aware of the zest and enthusiasm they bring to bear, in the conduct of their cases. I have also read of Lawyers that have been disciplined by the LPDC. For the Legal Practitioners Privileges Committee of which I am a member, I can say without equivocation or fear of contradiction, that all petitions are vigorously scrutinised and appropriate measures taken in line with the guidelines. Therefore, it is incorrect to say that we shirk responsibility and applicants get away with all sorts of atrocities, despite reports and petitions. We are witnesses to the decision of LPDC withdrawing its nomination of a candidate, just about 72 hours to investiture. That is indicative of how serious the Committee is, and the extent it can go to demonstrate that only fit and proper persons (in terms of integrity and professionalism), are elevated to the rank of Senior Advocate of Nigeria. We understand that the Epiphany Azinge Foundation will be launched on November 13. The title of the Inaugural Lecture - 'Nigeria in search of a Detribalised Race', is extremely timely. Do you believe this can be achieved? What are the aims and goals of your Foundation? You are perfectly right. My Foundation, Epiphany Azinge Foundation, will be formally inaugurated on 13th November, 2017. Incidentally 13th of November is also my birthday. We have chosen to use the platform, to address the worsening issue of tribalism and ethnicity, in our national life. We feel that, it is time we interrogate how we can build a detribalised country, engender integration and promote peace and harmony. We want to see more marriages across cultural and religious divides, and a country that recognises you more as a citizen of Nigeria, than a citizen of your State of origin, first and foremost. It is our hope that, the public lecture and award ceremony, will set an agenda and chart a roadmap for detribalisation in our polity. The major objectives of the Foundation include: (a) Promotion of academic values and pursuit of excellence in our nation (b) Establish a citadel of higher learning for teaching, research and promotion of knowledge (c) Help to propagate and source for funds for actualisation of research innovations, inventions and creative intellectual property (d) Cultivate and inculcate the altruistic passion of volunteerism (e) Vigorously pursue the promotion of work ethics in the public sector in Nigeria with a view to reinvigorating patriotic fervour, dignity of labour and hard work (f) Identify, support and promote excellent innovative minds who are trailblazers in their areas of influence (g) Institute awards, honours and investitures in schools, universities and the wider society and (h) To groom and mentor young men and women in the art of leadership and enthronement of high ethical values and standards.

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The Kachikwu and NNPC-Management Imbroglio This article by Chris Akiri, discusses the issues surrounding the recent standoff between the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, and the Group Managing Director of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, by criticality examining the 'leaked' Memo written by the former to President Buhari, the Minister for Petroleum Resources. He urges the Federal Government to institute an investigative panel, to look into the germane concerns raised by Dr. Kachikwu in his Memo

Dr Kachikwu's Leaked Memo T transpired, recently, that an official memorandum by Dr. Ibe Kachikwu, Minister of State for Petroleum Resources, to President Muhammadu Buhari, who is also the substantive Minister of Petroleum Resources, was leaked to the public. Whoever leaked the memo, is not of interest to this writer because, if the author of the memo, the Minister of State for Petroleum Resources, was denied access to his boss for several weeks by some overweening presidential aides, the question as to who leaked the memo could be answered by a pupil in the primary school! In the said memo, dated 30th August, 2017, Dr. Kachikwu accused Dr. Maikanti Baru, the Group Managing Director of the Nigerian National Petroleum Corporation (GMD, NNPC), of insubordination and, principally, of unilaterally awarding contracts valued at about $25 billion, and that the contract awards were done without the due process of the law and were patently ultra vires the GDM, NNPC’s office. Since its establishment about four decades ago, the NNPC has wriggled in a cesspool of rank corruption, malfeasance and misfeasance. It is the very epitome of the worst form of corporate sludge. Like the emoluments of Nigeria’s lawmakers, the mode of the business and earnings of the Corporation, remain shrouded in mystery. Nigerians do not know how much crude oil is mined from the womb of the Niger Delta every day; neither do they know how much is realised, from the sale of exported petroleum products on a daily basis. This explains why any revelation of graft in that Corporation, attracts the attention of not a few Nigerians. Dr. Ibe Kachikwu has alleged that the GMD, NNPC, Dr. Maikanti Baru, had unilaterally awarded contracts worth more than $25 billion, knowing full well, that any contract valued below $20 million should be handled by the NNPC Tenders Board or, if above $20 million, should be referred, with a “No Objection Certificate” from the Bureau of Public Procurement (BPP), to the Federal Executive Council (FEC). The NNPC is a unique corporation whose Board of Directors, in spite of the unambiguous provision in the instrument establishing it, is precluded from the affairs of the cash cow of the nation-space. Dr. Kachikwu’s memo nearly fully removed the lid from the sealed can of the legendary graft in the NNPC. The Law establishing the NNPC is the Nigerian National Petroleum Corporation Act (Cap. 320, Laws of the Federation of Nigeria, 1990).

Dr. Maikanti Baru

Dr. Ibe Kachikwu

Section 1 (2) thereof provides inter alia, as follows: “The affairs of the Corporation shall, subject to Part II of this Act, be conducted by a Board of Directors of the Corporation which shall consist of a Chairman and the following other members...” Being the Chairman of the NNPC Board of directors, Dr. Kachikwu wonders, in the said memo, why he was not privy to the alleged contract awards. Being a first-class brain in Law, he must have wondered why some nondescript “Circulars” from the Secretary to the Government of the Federation (SGF) or some such other eerie official directives should take pride of place over the enabling Law of the NNPC, which has not been amended. In what appears to be Baru’s response to a query from the Presidency, Mr. Ndu Ughamadu, the Group General Manager, Group Public Affairs Division of the NNPC, on behalf of his boss, the GMD, NNPC, stated, inter alia, that “the law and the rules do not require a review or discussion with the Minister of State or the NNPC Board on contractual matters.” That makes the

Minister of State in the Petroleum Resources Ministry and Chairman of the NNPC Board worse than a spare tyre, a lame-duck Minister/Board Chairman. “What is required”, according to Ughamadu, “is the processing and approval of contracts by the NNPC Tenders Board, the President in his executive capacity or as Minister of Petroleum Resources, or the Federal Executive Council (FEC), as the case may be...” Question: if the Minister of Petroleum Resources (PMB) has something to do with the “processing and approval of contracts”, why shouldn’t the spare tyre Minister, assume the position of the Minister in his absence? Mr. Ughamadu then continued, “for both the Crude Term Contract and the Direct Sale and Purchase (DSDP) agreements, there are no speciﬁc values attached to each transaction to warrant the values of $10 billion and $5 billion respectively placed on them in the claim of Dr. Kachikwu....”. Ughamadu glibly labels transactions amounting to $15 billion

"WHY SHOULD MR. UGHAMADU STATE THAT DR. KACHIKWU SHOULD NOT ATTACH “SPECIFIC VALUES” TO CONTRACTS VALUED AT A COLOSSAL SUM OF $15 BILLION, BECAUSE THEY ARE CLASSIFIED AS “OFF-TAKERS OF CRUDE OIL AND SUPPLIERS OF PETROLEUM PRODUCTS UNDER AGREED TERMS”? BOTH DR. BARU AND MR. UGHAMADU HAVE TO ENLIGHTEN NIGERIANS ON THE SIGNIFICATION OF THIS PHRASE"

as “off- takers of crude oil and suppliers of petroleum products under agreed terms”, whatever that means! The question which arises from this imperspicuous term is, considering that the NNPC Board is a bull-dog without a mouth let alone a tooth, which institution(s) or individuals lend their imprimatur to such transactions and terms (as in DSDP) involving billions of dollars? What is the meaning of “Crude Term Contract and the Direct Sale and Purchase agreements” as used by Ughamadu in his response to his boss’s query? Couldn’t this be a corporate stratagem to avoid the NNPC Tenders Board, the NNPC Board, the FEC and the contracts over $20 million rule? Why should Mr. Ughamadu state that Dr. Kachikwu should not attach “specific values” to contracts valued at a colossal sum of $15 billion, because they are classified as “off-takers of crude oil and suppliers of petroleum products under agreed terms”? Both Dr. Baru and Mr. Ughamadu have to enlighten Nigerians on the signification of this phrase, which sounds like a cryptic drain-pipe through which undisclosed crude oil, whose quantity and value are never officially disclosed, finds its way into the effluent channel! How do you transact any business without attaching monetary value to it? We appeal to the Federal Government (not any of the Chambers of the National Assembly), to institute a powerful investigative panel to look into the issues raised in Dr. Kachikwu’s memo to the President and the plethora of questions thrown up by Ughamadu’s reaction thereto. The panel should establish the truth or otherwise of Ughamadu’s claim, that many contracts beyond the competence of the NNPC Tenders Board (NTB) were sent to the President for his approval, and find out whether the President, in his capacity as President or as the substantive Minister of Petroleum Resources, is competent to approve any contract valued at more than $20 million. The panel should also painstakingly examine and review the various “Circulars” and other official directives governing the operations of the NNPC, against the background of the Act establishing the Corporation, the NNPC Act. Meanwhile, the position of the emasculated NNPC Board vis-à-vis the sweeping powers of the NTB must be carefully looked into and reviewed. Above all, the Petroleum Industry Bill (PIB), in its original form, which seeks to introduce a clear and transparent regulatory framework into the Corporation, should be enacted into Law with efficient speed. Chris Akiri, Legal Practitioner and Legal Author, Lagos

12/

17.10.2017

INSIGHT ABUBAKAR D. SANI

xL4sure@yahoo.com

Should that NGO Bill Pass?

T Introduction

he ongoing debate over the desirability or otherwise of a new legislative framework for regulating non-governmental organisations in Nigeria brings to the fore, in my view, the need for a suitable code of corporate governance applicable to such bodies. An attempt to achieve this through the Not-For-Proﬁt Organisations Governance Code 2016 ran into troubled waters, and was hastily withdrawn by the Government in January this year. Unlike the present one, that effort was birthed by the Financial Reporting Council. Given that, by virtue of the Companies and Allied Matters Act (CAMA), another body, the Corporate Affairs Commission, exercises regulatory oversight over all NGOs – at least those that were incorporated under it – the question whether we need a new regime for regulating NGOs and Civil Society Organisations (CSOs) in the manner being mooted by the National Assembly, is a valid one. Is the Assembly even competent to initiate the new Bill? Is the Bill motivated by good faith, or is it, as some critics have charged, entirely unconstitutional? What are its merits and demerits? Let’s investigate, but first .... What are NGOs? Section 57 of the Bill defines an NGO as “a private voluntary grouping of individuals or associations not operated for profit or for other commercial purposes, but which have organised themselves nationally or internationally for the promotion of social welfare, development, charity or research through mobilisation of resources”. In essence, NGOs exist to create a better world by filling a social gap; by definition, they seek to achieve humane purposes. Who May Regulate NGOs ? This question is all-important for obvious reasons; if the National Assembly is incompetent, ab initio, to initiate the Bill, there the matter dies. The answer, however, appears to depend on the status of the NGO in any given case. As previously stated, the National Assembly is only competent to regulate corporate bodies which are not co-operative societies or otherwise directly established by any law enacted by a State House of Assembly: Item 32 of the Exclusive Legislative List of the Constitution. This applies to virtually all NGOs and CSOs in Nigeria, as few, if any of them are co-operative societies or were established by State legislatures. That being the case, the related question of whether the Assembly should regulate them, either in terms of the proposed Bill or otherwise involves a value judgement which is obviously variable, as one man’s meat, it is said, is another man's poison. Before looking at the pros and cons of the Bill, it is worthwhile to ask . .. Why Regulate NGOs at all? In other words, should NGOs be left as autonomous, self-governing and self-accounting entities, beholden only to their stakeholders and bound only by the law(s) under which they were originally registered - such as the Companies and Allied Matters Act (CAMA)? In this regard, even though the Corporate Governance Code for Not-For-Proﬁt Organisations has been suspended, I agree with its position, that the need for good corporate governance in NGOs is principally hinged on the volume of funding they attract. It is well-known that donors, both local and foreign, make significant donations directly to relevant NGOs, in the hope that they would engender greater mission fulfilment, donor value and greater beneficiary satisfaction and trust than given by Governments. Such donations are made out of conviction, knowledge, philanthropy, need, deceit or ignorance. Furthermore, as posited in that Code, NGOs set themselves up, by claiming expertise over local problems which they define and attempt to solve with so-called faceless or blind money, which they believe they do not have to account for. This creates distrust between donors, governing boards and managers of NGOs and CSOs, especially in the absence of mission fulfilment and beneficiary satisfaction in the face of obvious significant stakeholder-beneficiary dissatisfaction. Accordingly, the authority to whom NGOs are accountable, their sources of funding, purpose and mission concern governments across the world. Governments - including Nigeria – are concerned about blind and faceless money, and wish to establish orderliness over the operations of NGOs from the perspective of

House of Representatives in session

stakeholder satisfaction, donor trust, national reputation, economic growth, State security and safety. As against the foregoing, it must be said, however, that some governments, particularly in Africa, have taken undue local and international credit for commendable work done by NGOs using both local and foreign donor funds - yet, such governments are very sceptical of the real intention or mission of such donors. Criticism of the Bill As expected, the most vociferous opponents of the Bill, are the NGOs and CSOs themselves. In a published reaction, about 54-odd NGOs operating in the country, condemned it as “a grand scheme that will create a government apparatus with ungoverned discretion to determine whether an NGO exists or for how long it will operate based on the dominant political whims of the day.” They alleged further, that the bill will “licence unconstitutional discrimination, violate Nigeria’s constitutional guarantees of freedom of association, assembly, speech and even freedom of conscience and religion”. This view is shared by Prof. Chidi Odinkalu, the Chairman of the Section on Public Interest and Development Law of the Nigerian Bar Association, who opined, inter alia, that the Bill will “governmentalise and suffocate NGOs with exponential bureaucratisation, at a time when official government policy is to ease transactions for small entities”. Additionally, he posits that because the bill is “filled with a cocktail of whim and caprice, it is a boon to official corruption (and) it will militarise the civic space and make it impossible for anyone who harbours views different from those of the government, to organise with legal protection around those views.” Other critics have pointed to the Bill’s alleged “unchristian” or “anti-religion” slant, and its proposal to subject NGOs to biennial renewable registration by a new body, the Non-Governmental Organisations Regulatory Commission. To the extent that the previous registration (or incorporation) of an NGO under CAMA confers it with perpetual succession, the argument goes, the proposal for biennial renewal of their registration is an indefensible misnomer, which flies in the face of perpetual succession. The Rebuttal

"OTHER CRITICS HAVE POINTED TO THE BILL’S ALLEGED “UNCHRISTIAN” OR “ANTI-RELIGION” SLANT, AND ITS PROPOSAL TO SUBJECT NGOS TO BIENNIAL RENEWABLE REGISTRATION BY A NEW BODY"

Stung by such trenchant criticism, both the Speaker of the House of Representatives and the Bill's sponsor, Hon. Yakubu Dogara and Buba Jibril, respectively, have been at pains to stress that it is well-intended, and does not possess any of the attributes which its critics allege. According to Mr. Speaker, the “principal objective of the Bill, is to inject transparency, accountability and prevent the subversion of national security . . . no one can or indeed, should gag the operations of NGOs in Nigeria”. He asserted further that, “Churches, mosques, esusu, market women associations as well as local quasi-financial institutions are not NGOs, and thus, the Bill has nothing to do with their operations.” Mr. Dogara is a Christian, so, it would be curious were he to consciously work against his own faith. For his part, the Bill’s sponsor, Hon Buba Jibril, claimed that “NGOs and CSOs solicit for funds from all over the world on behalf of Nigerians. . . they recruit expatriates to help run their activities with lots of abuses; some people registered NGOs and solicited for funds and disappeared . . and some NGOs are used to fund the activities of terrorists and insurgents”. Conclusion The object of all legislation, is to strike a balance between competing values and interests in a society. Those values and interests are as dynamic as society itself and – with the exception of security, law and order – they change and morph over time. The relevance of any Parliament is thus, its ability, not only to be abreast of evolving challenges, but to anticipate them in a manner that is robust, but also tolerable – if not always acceptable at first blush. At the end of the day, what legitimises any legislation is not so much the capacity of the Legislature to enact it, but whether it reflects the yearnings and aspirations of the vast majority of those it was designed for. In terms of corporate governance, an organisation - any organisation - exercises good governance, when it subscribes to a system of checks and balances that ensures public interest is served. An accountable NGO, therefore, is one that is obliged to open its books and records to public scrutiny by regulators, stakeholders, beneficiaries and donors. See the suspended Not-ForProﬁt Organisations Governance Code 2016, page 7. The rights of freedom of association, speech, conscience and religion, which the Bill allegedly threatens, are not absolute, as they can be derogated from in appropriate cases under the Constitution. With this notable exception, I think that, opponents of the Bill are not completely wrong - neither are its proponents. I believe that a workable solution to their common concerns of freedom, accountability and responsibility by NGOs is to amend the Companies and Allied Matters Act by enhancing the structural and institutional capacity of the Corporate Affairs Commission largely in terms of the proposed Bill, but dispensing with the requirement of renewable registration. Filing of annual returns should suffice.

17.10.2017

THE LIGHTER SIDE/13

LEGAL HUMOUR

We Hold Your Brief JUDE IGBANOI jude.igbanoi@thisdaylive.com Dear Counsel, Your kind assistance would be appreciated on this matter. The oil services company I have been working at for the past four years, recently embarked on an extensive reorganisation, five other staff and I, were seconded to its sister company in Dubai. My worry is that, no provision whatsoever was made for me to travel with my wife and little daughter, and the letter of deployment states that I would be Dubai for at least two years in the first instance. I only got married last year and I can’t see how I would be separated from my family for two years. When I had a personal discussion with the Human Resources Manager, he was of the view that I should not lodge any official complaint, as the company did not make any such provision for staff that are being transferred overseas. Please advice. E.L., Victoria Island, Lagos.

the law has made extensive provisions to take care of such situations. You may therefore, lodge an official complaint to the management of the company on this. It is just that many are not aware of the provisions of the Labour Act. Section 44 of the Labour Act provides that ‘Where a worker is recruited for employment outside Nigeria, it shall be the duty of the employer to provide facilities at his own expense to enable the worker's family (not exceeding two wives and such of his children under the age of sixteen years as he wishes to accompany him) to accompany him to the place of employment and to remain there for the full duration of the contract: Provided that, if the contract is for less than one year, provision may be made for the family to remain for less than the full duration of the contract.’ I am surprised that your Human Resources Manager is not aware of this provision, and has asked you to keep quiet instead. Dear E.L., Please, draw his attention to this, while you You are faced with a job situation that lodge your complaint to the management affects your personal and family life, and officially.

Your attorney and your mother-in-law are trapped in a burning building. You only have time to save one of them. Do you: (1) have lunch?, or (2) go to a movie? ˾˾˾ What do you call a smiling, sober, courteous person at a Bar Association Convention? The caterer. ˾˾˾ Why are lawyers like nuclear weapons? 1. If one side has one, the other side has to get one; 2. Once launched, they can't be recalled; and 3. When they land, they screw everything up for the next 20 years. ˾˾˾ Why does the Bar prohibit lawyers from having sex with their clients? To prevent clients from being billed twice for the same service. ˾˾˾ A man walking along the beach one day finds a bottle. He rubs it and, sure enough, out popped a genie. "I will grant you three wishes," said the genie. "But there is a catch." "What catch?" the man asked. The genie replied, "Every time you make a wish, every lawyer in the world will receive double the wish you were granted." "Well, I can live with that! No problem!" replied the elated man. "What is your first wish?" asked the genie. "Well, I've always wanted a Ferrari!" POOF! A Ferrari appeared in front of the man. "Now every lawyer in the world has TWO Ferraris," said the genie. "Next wish?" "I'd love a million dollars," replied the man. POOF! One million dollars appeared at his feet. "Now every lawyer in the world has TWO million dollars," said the genie. "Well, that's okay, as long as I've got my million," replied the man. "What is your third and final wish?" The man thought long and hard, and finally said, "Well, you know, I've always wanted to donate a kidney.

FIRM CHALLENGES ORDER TO TRANSFER $10.5M TO UNKNOWN THIRD PARTY CONTINUED FROM PAGE 5 Police and Jegede against Ecobank, where INT Towers’ account is domiciled. According to the Magistrate, the Commissioner of Police “investigated and confirmed that the money was fraudulently obtained by the Managing Director of International Towers Limited from the second applicant (Jegede)". The Magistrate further ordered the Bank, to comply with the order immediately it is served with it. However, INT Towers sought to set aside the order, which the court refused. The applicant said failure of the Commissioner of Police and Jegede to join it to the suit, breached its right to fair hearing. Besides, INT Towers said the Police Commissioner and Jegede, lacked the locus standi (legal right) to apply to the court to transfer its funds to a third party, without affording the applicant the opportunity to be heard, notwithstanding that it would be adversely affected by the order. The applicant said the amount is in excess of the court’s monetary jurisdiction prescribed under the Magistrate’s Court Law, therefore, the court lacked the jurisdiction to make the order. In an affidavit in support of INT Towers' motion on notice, the deponent, Michael Onah of the firm of Templars,

debunked the fraud claim. The Commissioner of Police and Jegede, alleged that Jegede released the money to INT Towers through his company, Emirates Fuel. But, the applicant said the Police and Jegede, did not provide any evidence of such transfer, such as deposit slips or acknowledgement of receipt of payment. “The first and second respondent equally failed to furnish the court with any evidence of the alleged contract, or any other document evidencing the said transaction for the supply of diesel between the applicant and the second respondent”, the deponent said. Onah said that, when INT Towers’ Lawyers went to the State Criminal Investigation Department (SCID), Panti, on the invitation of the Police, and asked for evidence of the transfer of the money from Jegede to INT Towers, none was provided. “The applicant is a reputable company, and one of the biggest players in the telecoms industry both in Nigeria and around the globe. The applicant is not involved in petroleum business. “Emirates Fuel in whose favour the applicant’s fund with the third respondent (Ecobank) was ordered to be transferred to, was never a party to the proceedings,” the deponent said.

He added that the Commissioner of Police and Jegede “did not act bona fide in bringing the application and they also acted fraudulently". INT Towers said the court could have summoned it, to show cause why the money should not be forfeited or transferred, but it never did so. “The applicant or any of its subsidiaries has never transacted business with Emirates Fuel or indeed Mr. Akin Jegede", the deponent said. The court had on September 19 granted INT Towers’ prayer to be joined as a party, but refused its application to set the order aside. It is therefore, seeking leaving of the court to appeal against the decision refusing to set aside the order. “The sum of $10,500,000 belonging to the applicant, which the court ordered the third respondent to transfer from the applicant’s account to Emirates Fuel, is a huge amount of money. “If the money is transferred and dissipated by the first and second respondents, there is no evidence that they will be able to repay or restore the applicant’s account in the said sum…”, the deponent added. INT Towers, urged the court to grant the application, in the interest of justice.

14/IMAGES

17.10.2017

On October 9, 2017, the Lagos State Judiciary commenced its New Legal Year 2017/2018. Major activities to mark the New Year, included Church and Mosque Services, and the Bar and Bench Forum. Here are some of the personalities who attended the events photos: Kola Alli

Acting Chief Judge of Lagos State, Hon. Justice Opeyemi Oke

L-R: STANDING: Hon. Justice Abisoye Jubril Bashua, Hon. Justice Opeyemi Oke, Hon. Justice Lateef Dawodu and Hon. Justice Elizabeth Idowu Alakija. SITTING: Hon Justice Iyabo Akinkugbe and Hon. Justice Olufemi Adamson

L-R: Acting Chief Registrar, Lagos High Court, Mrs. A.O.Soladoye, Hon Justice Sybil Nwaka, Chief Magistrate C. Momodu and Director, Admin and Human Resources, Lagos State Ministry of Justice, Mrs. Awobanuse

L-R: Hon. Justice TaoďŹ quat Oyekan-Abdullahi,Hon Justice A.O. Opesanwo and Hon. Justice Femi Adeniyi

L-R: Hon. Justice Atinuke Ipaye, Hon. Justice Lateefa Okunnu, Hon Justice Sola Williams, Hon. Justice Opeyemi Oke, Hon. Justice Morenike Obadina and Hon. B.A Oke-Lawal

Hon. Justice J.O. Pedro, Pastor Laolu Adefarasin and Professor Femi Sodipo

L-R: Hon. Justice Shade Bankole Oki, Hon. Justice Dayo Akintoye and Hon. Justice Bisi Ogungbesan

Hon Justice Morenike Obadina (left) and Mrs. Olubukola Balogun

Hon Justice Adenike Coker (left) and Mrs. Funmi Demi-Ajayi

17.10.2017

IMAGES/15

L-R: Acting Chief Judge of Lagos State, Hon. Justice Opeyemi Oke, former Chief Judge of Lagos State, HON. Justice Inumidun Akande, Lagos State Governor Akinwunmi Ambode and Bishop of Lagos Diocese, Church of Nigeria Anglican Communion, Most Rev. Ephraim Adebola Ademowo

Supreme Court Justice Olabode Rhodes-Vivour and his wife, Mrs. Doyin Rhodes-Vivour

L-R: Professor Taiwo Osipitan, SAN, Mr. Dele Adesina, SAN and Mr. Emeka Ngige, SAN

L-R: Chief Felix Fagbohungbe, SAN and Lagos State Solicitor-General, Mrs. Funlola Odunlami

L-R: Chairman, Lagos House of Assembly Committee on Judiciary, Mrs. Funmi Tejuosho, Permanent Secretary, Lagos State OďŹƒce of Deputy Governor, Mrs. Yetunde Odejayi and Special Adviser to Lagos State Governor on Sports and Chairman, Lagos State Sports Commission, Mr. Deji Tinubu

L-R: Mrs. Oyinkan Badejo-Okusanya; Editor, THISDAY Lawyer, Mrs. Onikepo Braithwaite and Mrs. Abimbola Akeredolu, SAN

L-R: Mrs. Abimbola Akeredolu, SAN, Mr. Francis Agbu, SAN and Mr. Chijioke Okoli, SAN

L-R: Mr. G.O.A. Ekisola, Life Bencher, NBA, Mrs. Hairat Balogun, President, African Women Lawyers Association, Mrs. Mandy Asagba and former Judge, Lagos High Court, Justice Adeniyi Adebajo

White Cap Chiefs

Deputy Editor, THISDAY Lawyer, Mr. Jude Igbanoi

Dr. Muiz Banire, SAN (left) and Mr. Kemi Pinheiro, SAN

16/

Culled from the Internet

17.10.2017

TUESDAY, OCTOBER 17, 2017, Ëž T H I S D AY

BUSINESS/MONEYGUIDE

Câ€™River Rice Farmers Want Anchor Borrowersâ€™ Scheme Rolled over into 2018 Bassey Inyang Ă“Ă˜ Ă‹Ă–Ă‹ĂŒĂ‹Ăœ Rice farmers in Cross River State are demanding the rollover of the implementation Central Bank of Nigeriaâ€™s (CBN), Anchor Borrowers Programme (ABP) in the state from the 2017, to the 2018 rice planting season so that over their members can repay the loans they collected as participants. The farmers said they were making the call because the implementation of the scheme for rice cultivation in the state was fraught with plenty of problems. Making the call recently, the farmers decried the inability of the committee set up by the State Governor, Senator Ben Ayade, and headed by the office of his Special Adviser on Revenue, Mr. Godwin Akwaji, to efficiently distribute the farming inputs for rice cultivation to majority of the 5,746 farmers who are participating in the scheme. At an interaction with the Permanent Secretary, Ministry of Agriculture, Mr. Justin Ugbe, who went round the three senatorial zones of the state at the weekend, the farmers

complained that due to obvious lapses in the implementation of the rice growers scheme in the state, they could not meet the expected target on rice production, and repayment of loans facilitated by the anchor borrowers scheme. Speaking on behalf, rice farmers in the Southern Senatorial District, Mr. David Esese, told Ugbe that apart from the farmers in Bakassi Local Government Area, who were able to access the financial component of the loan, others in the remaining six local government areas in the senatorial district were not given the agreed money to facilitate the cultivation of rice on their farms as envisaged. â€œMajority of us got the rice input, but the fertilizers were distributed haphazardly with some getting the urea and others NPK. Some got the chemicals while others did not get, and nobody was given the financial component of the loan apart from Bakassi farmers,â€? Esese said. He said farmers visited the Bank of Agriculture at Obubra several times to get the financial

component of the loan, but none was given to them. Esese said the inability of most of the farmers to get the financial component of the loan frustrated their efforts at cultivating several hectres of swamp rice on their farmlands. In Ogoja, the representative of the farmers in the Northern Senatorial District, Osborn Kanjal, said the rice distributed to them as inputs failed to germinate in the farms due to the long period the rice was stored before it was distributed for cultivation. â€œWe were given the rice in September, 2016 and by that time, the rice season had passed and so we kept the rice for the 2017 rice planting season but by the time we planted the rice, it refused to germinate owing to heat that affected it because of the long storage period,â€? Kanjal said. He said over 90 per cent of the farmers in the northern senatorial district of the state could not access the financial component of the loan as the Bank of Agriculture in Ogoja said the money was held up in their headquarters in Kaduna.

CBN Maintains Market Liquidity with $195 Million The Central Bank of Nigeria (CBN) yesterday injected a fresh $195 million into the interbank foreign exchange market, as part of its continued bid to maintain liquidity in the market. Figures released by the bank show that it offered a total sum of $100 million to the wholesale segment, while the Small and Medium Enterprises (SMEs) segment received the sum of

$50 million. The invisibles segment, comprising tuition fees, medical payments and Basic Travel Allowance (BTA), among others, received $45 million. The Acting Director, Corporate Communications Department of the CBN, Mr. Isaac Okorafor, who confirmed the development, said that the central bank would continue to increase liquidity, aimed at

meeting genuine demand in the market to enhance forex stability. The CBN had last Friday intervened in the retail segment of the inter-bank market with the sum of $306.3 million. Despite the intervention by the central bank, the naira maintained its previous dayâ€™s value on the Bureau De Change segment, as it traded at an average of N364/$ in Lagos, Abuja, Port-Harcourt and Kano.

Institute Honours Heritage Bank Executives The Institute of Credit Administration (ICA) has conferred awards on two senior management executives of Heritage Bank Plc at the Nigeria Credit Industry Awards and Postgraduate School of Credit and Financial Management (PSCFM) graduation ceremony held recently. The awardees were the bankâ€™s Executive Director, Mr. Jude Monye, who was awarded Credit Management â€˜Director of the Yearâ€™ and its Regional Head, Mrs. Chinwe Ofulue, who was recognised as â€˜Credit Relationship Director

of the Year.â€™ Besides this, the bankâ€™s Group Head, Market Strategy Obioma Emenike; Group Head, Legal Services, Imomoemi Ibisiki, were inducted as Fellows of ICA, Head, Marketing/ Team Lead, Commercial Banking, Lilian Oyinlonye Agada, was inducted as Member, while Media Relationship Officer of the bank, Blaise Udunze, was inducted as an Associate of the institute. Commenting on the honour bestowed on the team, Monye expressed gratitude for the recognition of the professional

body of their commitment to efficient credit management in Heritage Bank. According to him, the management at Heritage Bank does and will not go for anything less than premium service delivery for its teeming customers, who cut across different sectors of the aggregate economy. Monye stated that the quality of banking and financial services that customers of Heritage bank are enjoying is second to none when compared to what is available at any other bank in the country.

FCMB Wins Banking Awards The FCMB Group Plc said two of its subsidiaries, First City Monument Bank (FCMB) and First City Asset Management Limited (FCAM) emerged the â€œMost Improved Retail Bank in Nigeriaâ€™â€™ and â€œBest Managed Fund in Equity,â€? respectively, at this yearâ€™s BusinessDay Banking Awards held recently in Lagos. The FCMB Group, in a statement, explained that the latest development was a confirmation of its giant strides. It also said it was a testimony that the various initiatives being driven by the subsidiaries in the areas

of service, products offering, operations and value addition to enhance customer experience are yielding the desired results and appreciated. While First City Monument Bank (FCMB) is the retail, commercial and corporate banking arm of the Group, First City Asset Management Limited (FCAM) is the investment management services arm of CSL Stockbrokers Limited, another subsidiary of the Group. According to the organisers, FCMB was adjudged as the, â€˜â€™Most Improved Retail Bank in Nigeriaâ€™â€™ as a result of its remarkable transformation from an investment bank to become a leader in the retail banking

segment in less than 10 years. For instance, the bank has increased the number of its branches nationwide to over 200, while its alternate channels provide prompt, secure and convenient banking services, among other benefits to millions of customers. On the conferment of the award as â€˜â€™Best Managed Fund in Equityâ€™â€™ on FCAM, the committee said that the companyâ€™s flagship product,Legacy Equity Fund,had witnessed consistent growth in unit price and net asset value to become the best performing, predominantly equity-based mutual fund in Nigeria.

Rice farm

MARKET INDICATORS MONEY AND CREDIT STATISTICS

(MILLION NAIRA)

DECEMBER 2016 Broad Money (M2)

23,840,392.42

-- Narrow Money (M1)

11,520,166.67

---- Currency Outside Banks

1,820,415.90

---- Demand Deposits

9,699,750.76

-- Quasi Money

12,320,225.75

Net Foreign Assets (NFA)

9,353,504.03

Net Domestic Assets(NDA)

14,486,888.39

-- Net Domestic Credit (NDC)

26,970,297.97

---- Credit to Government (Net)

4,595,579.89

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

7,436,917.79

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

-2,841,337.90

---- Credit to Private Sector (CPS)

22,374,718.08

--Other Assets Net

-12,483,409.58

Reserve Money (Base Money)

5,837,322.41

--Currency in Circulation

2,179,174.28

--Banks Reserves

3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹

MANAGED FUNDS Month

December 2016

Inter-Bank Call Rate

10.39

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

14.00

Treasury Bill Rate

13.96

Savings Deposit Rate

4.18

1 Month Deposit Rate

8.53

3 Months Deposit Rate

8.80

6 Months Deposit Rate

10.23

12 Months Deposit Rate

10.76

Prime Lending rate

17.09

Maximum Lending Rate

28.55 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ Ă™Ă–Ă“Ă?ĂŁ Ă‹ĂžĂ? Ě‹ ÍŻÍąĎą

OPEC DAILY BASKET PRICE AS AT THURSDAY OCTOBER 12, 2017 The price of OPEC basket of fourteen crudes stood at $55.12 a barrel on Friday, compared with $54.44 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), ZaďŹ ro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (UAE) and Merey (Venezuela).

SOURCE: OPEC headquarters, Vienna

TUESDAY, OCTOBER 17, 2017, ˾ T H I S D AY

MARKET NEWS

UBA’s Nine Months Profit Grows by 33% to N78 Billion Goddy Egene United Bank for Africa (UBA) Plc yesterday reported gross earnings of N333.9 billion and profit before tax(PBT) of N78.3 billion for the nine months ended September 30, 2017. The gross earnings showed a growth of 26 per cent above the N265.5 billion posted in the corresponding period of 2016, while the PBT indicated a rise

of 33 per cent compared with N58.8 billion in 2016. According to the bank, this inspiring result was driven by the strong performance of its recurring core revenue lines, thus reflecting the increasing success of the bank’s enhanced customer engagement. UBA grew its net interest income to N152.3 billion, up from N112.3 billion. Although credit

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

impairment charges jumped from N9.1 billion to N12.9 billion, its profit after tax (PAT) improved by 23 per cent to N60.9 billion above the N49.5 billion posted in 2016. While the group closed the third quarter with total assets of N3.77 trillion, a year-to-date (YTD) growth of 7.6 per cent, it prudently grew net loans to N1.6 trillion, a 6.0 per cent YTD growth in the loan book.

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

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

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 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 6.6 0.86 9.8 0.84 23.8 1.31 0.7 4.8 4.9 0.83 0.5 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

Commenting on the results, the Group Managing Director/ CEO, UBA, Kennedy Uzoka, said: “These extremely positive third quarter results are an attestation of our ability to sustainably grow earnings and market share, notwithstanding the challenging operating environment. They are a tribute to our enhanced customer engagement and focus on continuous improvement in

STO C K

service quality.” According to him, the bank’s nine-month top-line grew by 26.3 per cent , to an unprecedented N334 billion, driven particularly by the strong performance of its recurring core revenue lines. “Our investment in digital channels is being rewarded, as our market share of digital banking continues to grow and we have also seen strong momentum

in the trade and remittance businesses, where we have doubled the monthly run-rate in fee income, a testament to an increasingly optimistic business and currency environment,” he said. Also speaking on results, the Group Chief Financial Officer, Ugo Nwaghodoh said the group recorded strong growth across its diversified business segments and geographies.

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 Current Price 1.01 14.75 1 0.66 1.95

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 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

˜ ͯ͵˜ ͺ͸͹͵ ˾ T H I S D AY

Nigeria Daily Stock Market Report: Tuesday, October 17, 2017

P rice

P rice Chg %

Vo lum e

P ric e C hg %

1.95

9.6%

T R A N SC OR P

31.0

0.0%

22.05

5.0%

UB A

25.5

-0.1%

F IDELIT YB K

1.47

5.0%

GUA R A N T Y

23.3

0.2%

NA HCO

3.57

5.0%

FCM B

15.6

0.0%

NA SCON

13.85

4.9%

FB NH

13.2

0.2%

UNIT YB NK

0.54

3.8%

A IIC O

12.9

3.7%

A IICO

0.56

3.7%

Z EN IT H B A N K

12.7

3.1%

M A NSA RD

2.60

3.6%

F ID ELIT YB K

10.5

5.0%

A F RIP RUD

3.71

3.3%

A C C ESS

10.0

-0.4%

F IDSON

3.45

3.3%

D IA M ON D B N K

5.6

-1.8%

Ticker

The Nigerian Bourse opened this week in the green as the All Share Index (ASI) rose 0.3% to 36,971.27, pushing YTD return to 37.6%. In line with the performance, market ĐĂƉŝƚĂůŝǌĂƟŽŶ ŝŶĐƌĞĂƐĞĚ ďǇ EϰϮ͘ϰďŶ ƚŽ ĐůŽƐĞ Ăƚ EϭϮ͘ϳƚŶ ǁŚŝůĞ ĂĐƟǀŝƚǇ ůĞǀĞů ŝŵƉƌŽǀĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĞǆƉĂŶĚĞĚ ϯϰ͘ϳй ĂŶĚ Ϯϭ͘ϴй ƚŽ Ϯϭϱ͘Ϭŵ ƵŶŝƚƐ ĂŶĚ EϮ͘ϳďŶ ƌĞƐƉĞĐƟǀĞůǇ͘ dŽĚĂǇ͛Ɛ ƵƉƟĐŬ ĐĂŶ ůĂƌŐĞůǇ ďĞ ĂƩƌŝďƵƚĞĚ ƚŽ ZENITH (+3.1%), DANGCEM (+0.2%) and GUARANTY (+0.2%).

CILEA SING GLA XOSM IT H

ĂŶŬŝŶŐ ^ĞĐƚŽƌ >ĞĂĚƐ ƚŚĞ tĂǇ

T ic k er

T o p 10 T r a d e s b y V a lu e

T o p 10 L o s e rs

>ŝŬĞǁŝƐĞ͕ ŵŽƐƚ ƐĞĐƚŽƌ ŝŶĚŝĐĞƐ ĞǆƉĂŶĚĞĚ ƌĞůĂƟǀĞ ƚŽ &ƌŝĚĂǇ͛s ǀĂůƵĞƐ ǁŝƚŚ ƚŚĞ ĂŶŬŝŶŐ ŝŶĚĞǆ ;нϭ͘ϬйͿ Ăƚ ƚŚĞ ĨŽƌĞĨƌŽŶƚ͕ owing to gains in ZENITH (+3.1%) and ETI (+1.3%). ZĞůĂƚĞĚůǇ͕ UBA ƌĞůĞĂƐĞĚ ŝƚƐ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ ǇĞƐƚĞƌĚĂǇ͘ 'ƌŽƐƐ ĞĂƌŶŝŶŐƐ ŝŵƉƌŽǀĞĚ Ϯϱ͘ϴй z-o-Y ƚŽ Eϯϯϯ͘ϵďŶ ĨƌŽŵ EϮϲϱ͘ϱďŶ ǁŚŝůĞ W d ƌŽƐĞ Ϯϯ͘Ϭй z-o-z ƚŽ EϲϬ͘ϵďŶ ĨƌŽŵ Eϰϵ͘ϱďŶ͘ The Insurance index recorded a modest gain of 0.2% as MANSARD and AIICO appreciated 3.6% and ϯ͘ϳй ƌĞƐƉĞĐƟǀĞůǇ͘ dŚĞ Kŝů Θ 'ĂƐ ŝŶĚĞǆ ŚŽǁĞǀĞƌ ĐůŽƐĞĚ ŇĂƚ ǁŚŝůĞ ƚŽĚĂǇ͛s sole loser was the Consumer Goods index ǁŚŝĐŚ ĚĞĐůŝŶĞĚ Ϭ͘ϯй ƉƌŝŵĂƌŝůǇ ĚƵĞ ƚŽ Ă ůŽƐƐ in NIGERIAN BREWERIES (-1.2%).

P rice

P rice Chg %

Value

P ric e C hg %

LEA RNA FRCA

0.76

-5.0%

GUA R A N T Y

981.4

0.2%

VIT A F OA M

2.64

-4.3%

Z EN IT H B A N K

328.9

3.1%

308.6

0.7% -0.1%

T icker

/ŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ ǁŚŝůĞ ƉŽƐŝƟǀĞ͕ ǁĂƐ ĚŽǁŶ ĨƌŽŵ &ƌŝĚĂǇ ĂƐ ŵĂƌŬĞƚ ďƌĞĂĚƚŚ ĚĞĐůŝŶĞĚ ĨƌŽŵ Ϯ͘ϯǆ ƚŽ ϭ͘ϴǆ Ăƚ ŵĂƌŬĞƚ ĐůŽƐĞ͘ dŚĞ ĚĂǇ͛s top performers were CILEASING (+9.6%), FIDELITYBK ;нϱ͘ϬйͿ ĂŶĚ NAHCO ;ϱ͘ϬйͿ ĂŐĂŝŶƐƚ ƚŚĞ ƚŽƉ losers - LEARNAFRCA (-ϱ͘ϬйͿ͕ VITAFOAM (-ϰ͘ϯйͿ ĂŶĚ CONTINSURE (-ϰ͘ϮйͿ͘ tĞ ĞǆƉĞĐƚ ƚŚĞ ƉŽƐŝƟǀĞ ƉĞƌĨŽƌŵĂŶĐĞ ƚŽ ďĞ ƐƵƐƚĂŝŶĞĚ ŝŶ ƐƵďƐĞƋƵĞŶƚ ƐĞƐƐŝŽŶƐ ĂƐ Q3:2017 earnings results are released.

d,/^ z &Z/Es ^d ϰϬ /ŶĚĞǆ ĚǀĂŶĐĞƐ ϱϬďƉƐ In line with NSE indices performance, the THISDAY ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ǇĞƐƚĞƌĚĂǇ ĂĚǀĂŶĐĞĚ ĨƵƌƚŚĞƌ ƚŽ ďĞĂƚ ƚŚĞ ďĞŶĐŚŵĂƌŬ ŝŶĚĞǆ ďǇ ϭϳďƉƐ ĂŌĞƌ ŐĂŝŶŝŶŐ ϱϬďƉƐ ͘ dŚĞ ƉĞƌĨŽƌŵĂŶĐĞ ŽĨ ƚŚĞ ŝŶĚĞǆ ǁĂƐ ƐƵƉƉŽƌƚĞĚ ďǇ ŐĂŝŶƐ ŝŶ ZENITH, DANGCEM, GUARANTY and FBNH which ŽīƐĞƚ ůŽƐƐĞƐ ŝŶ NIGERIAN BREWERIES, ACCESS and UBA͘ dŚĞ d,/^ z ĨƌŝŶǀĞƐƚ ϰϬ /ŶĚĞǆ ŚĂƐ ŐĂŝŶĞĚ ϰϵ͘ϳй Year to Date compared to NSE All Share Index return of 37.6%.

ŽŵƉĂŶǇ ŝŶ &ŽĐƵƐ͗ hŶŝƚĞĚ ĂŶŬ ĨŽƌ ĨƌŝĐĂ ;h Ϳ hŶŝƚĞĚ ĂŶŬ ĨŽƌ ĨƌŝĐĂ WůĐ ;͞UBA͟ or ͞ƚŚĞ ďĂŶŬ͟Ϳ ŝƐ ŽŶĞ Žī ƚŚĞ ůĂƌŐĞƐƚ ďĂŶŬƐ ŝŶ EŝŐĞƌŝĂ͕ ǁŝƚŚ ƚŽƚĂů ĂƐƐĞƚƐ ŽĨ Eϯ͘ϳƚŶ ĂƐ at 9M:2017. UBA ranks as a Tier-ϭ ďĂŶŬ ďǇ ĨƌŝŶǀĞƐƚ ĐůĂƐƐŝĮĐĂƟŽŶ ĂŶĚ ŝƐ ƚŚĞ ϳƚŚ ŵŽƐƚ ĐĂƉŝƚĂůŝǌĞĚ ĐŽŵƉĂŶǇ ŝŶ ƚŚĞ dŚŝƐ ĂǇ ĨƌŝŶǀĞƐƚ ϰϬ ŝŶĚĞǆ͘ zĞƐƚĞƌĚĂǇ͕ ƚŚĞ ĐŽŵƉĂŶǇ ƌĞůĞĂƐĞĚ ŝƚƐ ϵD͗ϮϬϭϳ ƌĞƐƵůƚ ǁŝƚŚ ŐƌŽƐƐ ĞĂƌŶŝŶŐƐ ŝŵƉƌŽǀŝŶŐ Ϯϱ͘ϴй z-o-z ƚŽ Eϯϯϯ͘ϵďŶ ĨƌŽŵ EϮϲϱ͘ϱďŶ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ϵ ŵŽŶƚŚ͘ dŚŝƐ ǁĂƐ ĚƌŝǀĞŶ ďǇ Ă ϯϬ͘ϭй ŐƌŽǁƚŚ ŝŶ ŝŶƚĞƌĞƐƚ ŝŶĐŽŵĞ ;EϮϯϴ͘ϭďŶͿ ĂƐ ǁĞůů ĂƐ ŶŽŶ-interest income which ŐƌĞǁ ϭϲ͘ϭй ƚŽ Eϵϱ͘ϴďŶ ĂŐĂŝŶƐƚ ƚŚĞ ďĂĐŬĚƌŽƉ ŽĨ ĂŶ ĞǆƉĂŶƐŝŽŶ ŝŶ &y ƚƌĂĚŝŶŐ ŝŶĐŽŵĞ͘ W d ĂůƐŽ ŝŵƉƌŽǀĞĚ Ϯϯ͘Ϭй z -o-z ƚŽ EϲϬ͘ϵďŶ ĨƌŽŵ Eϰϵ͘ϱďŶ ŝŶ ϵD͗ϮϬϭϲ͘ ,ŽǁĞǀĞƌ͕ ŽŶ Ă Y-o-Y ďĂƐŝƐ͕ ŐƌŽƐƐ ĞĂƌŶŝŶŐƐ ĨĞůů ϴ͘ϱй ƚŽ Eϭϭϭ͘ϮďŶ ŝŶ Yϯ͗ϮϬϭϳ ĨƌŽŵ EϭϮϭ͘ϱďŶ ŝŶ YϮ͗ϮϬϭϳ ǁŚŝůĞ W d ĂůƐŽ ĚĞĐůŝŶĞĚ ϳ͘Ϭй ƚŽ Eϭϴ͘ϱďŶ ĨƌŽŵ Eϭϵ͘ϵďŶ ŝŶ YϮ͗ϮϬϭϳ͘ ůƚŚŽƵŐŚ ŽƵƌ ƉĞƌĐĞƉƟŽŶ ŽĨ ƚŚĞ ĞĂƌŶŝŶŐƐ ƌĞƐƵůƚ ŝƐ ŵŝǆĞĚ͕ ŐŝǀĞŶ ƚŚĞ ƌĞůĂƟǀĞůǇ ǁĞĂŬĞƌ ƉĞƌĨŽƌŵĂŶĐĞ ŝŶ ϵD͗ϮϬϭϲ͕ ǁĞ ĚŽ ŶŽƚ ĞǆƉĞĐƚ Ă ŵĂũŽƌ ŶĞŐĂƟǀĞ ƌĞĂĐƟŽŶ ŝŶ ƚŚĞ ŵĂƌŬĞƚ ĂƐ ƚŚĞ ŵĂƌŬĞƚ ǀĂůƵĂƟŽŶ ŽĨ ƚŚĞ ƐƚŽĐŬ ŝƐ ƐƟůů ĂƩƌĂĐƟǀĞ Ăƚ ĐƵƌƌĞŶƚ ůĞǀĞů͘ UBA ŝƐ ĐƵƌƌĞŶƚůǇ ƚƌĂĚŝŶŐ Ăƚ Eϵ͘ϮϮ ;ϭϬͬϭϲͬϮϬϭϳͿ ĂŶĚ Ă WƌŝĐĞ ƚŽ ŽŽŬ sĂůƵĞ ;Wͬ sͿ ŵƵůƟƉůĞ ŽĨ Ϭ͘ϲǆ͘ dŚŝƐ ŝŵƉůŝĞƐ Ă ƌĞůĂƟǀĞ ƵŶĚĞƌǀĂůƵĂƟŽŶ ŽĨ ƚŚĞ ƐƚŽĐŬ ĐŽŵƉĂƌĞĚ ƚŽ dŝĞƌ-1 ĂǀĞƌĂŐĞ ŽĨ ϭ͘Ϭǆ͘

(RC 603 315)

(A Dealing Member of the Nigerian Stock Exchange)

T ic k er

CONTINSURE

1.38

-4.2%

P R ESC O

NEM

1.33

-2.9%

UB A

236.2

ST ERLN B A NK

1.00

-2.9%

164.3

-1.2%

CUST ODYINS

3.50

-2.8%

A C C ESS

97.3

-0.4% 0.2%

1.12

-1.8%

FB NH

80.7

163.00

-1.2%

ET I

62.5

1.3%

LIVEST OCK

0.91

-1.1%

T R A N SC OR P

48.1

0.0%

H ON YF LOUR

2.00

-0.5%

D A N GSUGA R

40.1

1.5%

DIA M ONDB NK NB

THISDAY AFRINVEST 40 INDEX

ĂƌŶŝŶŐƐ ZĞƐƵůƚƐ ƌŝǀĞ ^ĞŶƟŵĞŶƚ

Afrinvest Securities Limited

T o p 10 T r a d e s b y V o lu m e

T o p 10 G a ine rs

WŽƐŝƟǀĞ ^ƚĂƌƚ ƚŽ ƚŚĞ tĞĞŬ͙ E^ ^/ ƵƉ ϯϯďƉƐ

Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index

Ticker

Current Price

Previous Price Change

Current Weighting

Price Change YTD

Price Change Index to Date

ROE

ROA

P/E

P/BV

Divindend Yield

Earnings Yield

THISDAY AFRINVEST 40

1,496.61

0.5%

49.7%

20.4%

6.5%

7.4x

0.7x

4.3%

10.0%

Guaranty Trust Bank PLC

42.10

0.2%

22.8%

70.4%

28.2%

4.5%

8.7x

2.3x

4.9%

11.5%

Nigerian Brew eries PLC

163.00

-1.2%

11.5%

10.1%

19.4%

8.7%

39.2x

7.3x

2.2%

2.6%

26.30

3.1%

13.8%

78.3%

23.9%

3.4%

5.2x

1.1x

7.7%

19.4% 6.0%

Zenith Bank PLC

Dangote Cement PLC

223.98

0.2%

6.3%

28.7%

30.5%

15.3%

16.6x

4.7x

3.8%

0.0%

6.6%

53.1%

64.1%

14.8%

41.1x

24.9x

0.8%

2.4%

4.3%

65.6%

15.8%

2.1%

4.0x

0.6x

6.7%

25.1%

Nestle Nigeria PLC

1,240.50

Access Bank PLC

9.72

-0.4%

United Bank for Africa PLC

9.22

-0.1%

5.2%

104.9%

18.2%

2.3%

4.0x

0.7x

8.1%

24.7%

FBN Holdings Plc

6.10

0.2%

3.9%

82.1%

1.2%

0.2%

17.0x

0.4x

3.3%

5.9%

1.3%

0.6x

3.6%

-20.3%

4.4x

4.0x

1.9%

Ecobank Transnational Inc

17.12

3.0%

66.5%

-14.5%

-1.3%

Lafarge Africa PLC

56.00

0.0%

2.0%

36.8%

62.7%

11.8%

SEPLAT Petroleum Development C

480.00

0.0%

1.8%

26.3%

-12.4%

-6.7%

Unilever Nigeria PLC

44.00

0.0%

1.7%

38.3%

38.2%

46.6%

7.4%

30.0x

11.1x

0.2%

3.3%

Stanbic IBTC Holdings PLC

43.00

2.4%

3.1%

186.7%

27.1%

3.2%

10.9x

2.7x

1.4%

9.1%

Guinness Nigeria PLC

100.00

0.0%

1.3%

27.2%

4.5%

1.4%

70.4x

3.5x

0.6%

Oando PLC

5.99

-0.2%

1.3%

27.4%

31.7%

2.8%

4.8x

0.6x

20.8%

Forte Oil PLC

-43.1%

44.3%

3.7%

12.1x

5.4x

8.3%

0.6x

22.9% -21.7%

1.4%

48.00

0.0%

0.5%

0.0%

0.4%

-40.5%

31.5%

10.9%

10.0x

2.7x

4.8%

10.0%

0.6%

-15.4%

44.6%

8.2%

8.2x

3.3x

2.8%

12.2%

40.4%

28.1%

8.4x

2.9x

2.3%

11.9%

11 PLC

166.00

Total Nigeria PLC

253.00

0.0%

Okomu Oil Palm PLC

66.37

0.0%

1.1%

65.2%

UAC of Nigeria PLC

16.50

1.9%

0.6%

-1.8%

Conoil PLC

28.00

0.0%

0.4%

-25.3%

9.7x 11.8%

3.1%

8.7x

1.0x

6.1%

10.3%

11.1%

11.4%

Fidelity Bank PLC

1.47

5.0%

0.8%

75.0%

7.0%

1.0%

3.2x

0.2x

9.5%

31.0%

Dangote Sugar Refinery PLC

13.90

1.5%

1.0%

127.5%

23.8%

10.3%

6.9x

2.3x

3.6%

14.4%

Flour Mills of Nigeria PLC

30.00

1.0%

0.7%

62.2%

7.8%

1.9%

10.1x

0.8x

3.3%

9.9%

3.50

-2.8%

0.4%

-10.0%

20.3%

8.7%

3.4x

0.6x

8.0%

0.0%

0.3%

-30.2%

-56.7%

-13.9%

Custodian and Allied Insurance

7 UP Bottling Co PLC

90.00

Julius Berger Nigeria PLC

29.33

0.0%

0.3%

-24.0%

-12.2%

-1.2%

0.0%

0.3%

-4.5%

0.9%

0.1%

12.3x

0.1x

74.7%

13.4%

3.0%

8.9x

1.1x

FCMB Group Plc

1.05

Transnational Corp of Nigeria

1.52

0.0%

0.6%

74.7%

4.4x

29.2% -18.7%

1.5x

-7.8% 9.5%

8.1% 11.3%

Diamond Bank PLC

1.12

-1.8%

0.4%

27.3%

1.6%

0.2%

6.8x

0.1x

Presco PLC

67.50

0.7%

0.5%

68.3%

53.3%

31.5%

2.8x

1.2x

2.2%

36.0%

PZ Cussons Nigeria PLC

23.90

0.0%

0.5%

64.8%

11.5%

5.8%

20.4x

2.2x

2.1%

4.9%

0.0%

0.6%

126.4%

29.4%

10.2%

33.4x

9.1x

3.0%

0.0%

0.3%

2.0%

-11.1%

-4.2%

1.9x

-5.5%

International Brew eries PLC

41.89

Cadbury Nigeria PLC

10.50

Union Bank of Nigeria PLC

Chemical and Allied Products P

Sterling Bank PLC

5.75

0.0%

0.3%

20.4%

20.5%

6.1%

1.3%

7.1x

0.4x

32.50

0.0%

0.2%

1.6%

84.3%

38.5%

14.2x

10.0x

1.00

-2.9%

0.2%

31.6%

5.5%

0.5%

5.9x

0.3x

14.8%

14.1% 6.8%

7.0% 17.0%

GlaxoSmithKline Consumer Niger

22.05

5.0%

0.3%

40.0%

61.4%

25.2%

4.3x

1.6x

1.4%

AXA Mansard Insurance PLC

2.60

3.6%

0.1%

55.7%

11.9%

3.9%

13.0x

1.5x

1.9%

Continental Reinsurance PLC

1.38

-4.2%

0.1%

39.4%

16.7%

7.9%

4.7x

0.8x

Investment Research

Brokerage Ayodeji Ebo | aebo@afrinvest.com

Robert Omotunde | romotunde@afrinvest.com

Bolaji Fajenyo | bfajenyo@afrinvest.com

Omotola Abimbola | oabimbola@afrinvest.com

23.1% 7.7% 21.3%

˾ TUESDAY, OCTOBER 17, 2017

MARKET NEWS

Forte Oil Records N5.5bn Profit Before Tax in Nine Months Goddy Egene

Forte Oil Plc yesterday announced its nine months financial results ended September 30, 2017, showing improved performance. The company recorded revenue of N9.887 billion in 2017, down from N121.1 billion. But the efficient cost management strategies adopted improved the bottom-line despite a lower revenue. Cost of sale was reduced by 23 per cent, declining from N105 billion to N79.9

billion to bring the gross profit to N16.9 billion in 2017, compared with N15.4 billion in 2016. Distribution expenses fell by 45 per cent to N1.39 billion, from N2.56 billion, just as administrative expenses was cut by 8.2 per cent to N6.7 billion, from N7.3 billion. Consequently, operating profit stood at N9.7 billion, compared with N7.8 billion in the corresponding period of 2016. However, net finance cost spiked by 113 per

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

cent fromN2.2 billion to N4.7 billion, apparently due to bond service obligations. Despite the increase in net finance cost, Forte Oil ended the period with profit before tax of N5.5 billion and profit after tax of N5.0 billion, as against N5.6 billion and N2.7 billion in respectively in 2016. Market operators said the considering the high cost of finance paid during the period, the company should intensify efforts to complete its equity capital raise exercise.

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 13-Oct-2017, unless otherwise stated.

The energy company had planned to raise N20 billion fresh capital via public offer using a book building process. However, it recently put the plan on hold pending the conclusion of a corporate restructuring that is aimed to maximize the emerging opportunities in the Nigerian energy sector. The shareholders had, at the company’s annual general meeting (AGM) held last July authorised the directors to raise, by way of public offering, right issue or any

other method they deem fit, additional N20 billion, whether locally or internationally or a combination of both through the issuance of shares, convertible securities, and/ or any other instrument(s) at such dates and time on such terms and conditions, including through a book building process or other process(s0 all of which shall be determined by the directors subject to the approval of relevant regulatory authorities. The Securities and

Exchange Commission (SEC) had approved the company’s proposed offering by a way of book building. But the company last month said:“However, the Board of Forte Oil has taken a strategic decision to put the offer on hold pending the conclusion of an ongoing corporate restructuring with respect to maximising the emerging opportunities in the Nigerian emerging sector(oil, gas and power) which will be to the ultimate benefit of all stakeholders.”

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 178.13 179.01 40.33% Nigeria International Debt Fund 233.28 234.29 10.35% ALTERNATIVE CAPITAL PARTNERS LTD info@acapng.com Web: www.acapng.com, Tel: +234 1 291 2406, +234 1 291 2868 Fund Name Bid Price Offer Price Yield / T-Rtn ACAP Canary Growth Fund 0.81 0.82 16.29% ACAP Income Funds 0.61 0.61 74.56% ACAP Income Funds 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 18.15% ARM INVESTMENT MANAGERS LTD enquiries@arminvestmentcenter.com Web: www.arm.com.ng; Tel: 0700 CALLARM (0700 225 5276) Fund Name Bid Price Offer Price Yield / T-Rtn ARM Aggressive Growth Fund 17.50 18.03 41.72% ARM Discovery Fund 368.15 379.25 28.20% ARM Ethical Fund 25.81 26.59 15.51% ARM Money Market Fund 1.00 1.00 17.74% 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 145.34 146.36 38.18% AXA Mansard Money Market Fund 1.00 1.00 18.50% 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 18.34% 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 1,099.04 1,100.12 8.57% FBN Heritage Fund 146.64 147.89 31.53% FBN Money Market Fund 100.00 100.00 17.81% FBN Nigeria Eurobond (USD) Fund - Institutional $110.87 $111.91 7.83% FBN Nigeria Eurobond (USD) Fund - Retail $110.15 $111.19 7.87% FBN Nigeria Smart Beta Equity Fund 154.74 157.01 37.44% 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 1.37 1.40 47.34% Legacy Short Maturity (NGN) Fund 2.90 2.90 12.67% 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 2,886.83 2,926.61 31.29% Coral Income Fund 2,384.78 2,384.78 14.44% 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 17.85% INVESTMENT ONE FUNDS MANAGEMENT LTD enquiries@investment-one.com Web: www.investment-one.com; Tel: +234 812 992 1045,+234 1 448 8888 Fund Name Bid Price Offer Price Yield / T-Rtn Abacus Money Market Fund 1.00 1.00 17.90% Vantage Balanced Fund 2.08 2.11 23.92% Vantage Guaranteed Income Fund 1.00 1.00 18.49% Kedari Investment Fund (KIF) 111.27 111.27 14.67%

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 1.14 1.16 15.66% Lotus Halal Fixed Income Fund 1,025.32 1,025.32 8.93% MERISTEM WEALTH MANAGEMENT LTD info@meristemwealth.com Web: http://www.meristemwealth.com/funds/ ; Tel: +234 1-4488260 Fund Name Bid Price Offer Price Yield / T-Rtn Meristem Equity Market Fund 13.08 13.19 35.38% Meristem Money Market Fund 10.00 10.00 18.82% 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 19.73% PACAM Fixed Income Fund 10.84 10.88 4.22% 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 125.27 127.63 23.69% 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 1.39 1.39 11.72% 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 2,197.23 2,210.51 20.02% Stanbic IBTC Bond Fund 171.13 171.13 11.15% Stanbic IBTC Ethical Fund 0.98 0.99 27.92% Stanbic IBTC Guaranteed Investment Fund 212.41 212.41 13.66% Stanbic IBTC Iman Fund 171.36 173.57 31.99% Stanbic IBTC Money Market Fund 100.00 100.00 18.21% Stanbic IBTC Nigerian Equity Fund 9,543.30 9,654.56 25.85% Stanbic IBTC Dollar Fund (USD) 1.04 1.04 4.00% 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 1.33 1.34 18.58% United Capital Bond Fund 1.46 1.46 19.45% United Capital Equity Fund 0.86 0.88 28.60% 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 12.56 12.75 29.23% Zenith Ethical Fund 13.17 13.31 20.19% Zenith Income Fund 18.62 18.62 12.61%

REITS NAV Per Share

Yield / T-Rtn

11.41 131.22

1.01% 5.85%

Bid Price

Offer Price

Yield / T-Rtn

10.87 136.91 107.27

10.97 139.88 109.29

25.93% 38.40% 41.56%

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

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

funds@vetiva.com Bid Price

Offer Price

Yield / T-Rtn

4.49 9.04 17.13 20.46 139.24

4.53 9.12 17.23 20.66 141.24

62.14% 28.43% 44.71% 28.10% 9.83%

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

T H I S D AY TUESDAY OCTOBER 17, 2017

UTILIZATION OF FOREIGN EXCHANGE AS AT 13TH OF OCTOBER 2017 S/N

CUSTOMERS

FOLORUNSO DAYO OLADIMEJI

AMOUNT (US$)

5,000.00 BTA

PURPOSE

OKORAFOR ANULIKA HAPPINESS

4,000.00 BTA

ONYEABO EMMANUEL IHEANACHO

5,000.00 BTA

AWURUM CHINYERE FRANCA

550.00 PTA

AJAYI YETUNDE OLUWATOYIN

2,000.00 PTA

JAMODU BABALOLA KOLAWOLE

4,000.00 PTA

FAGBEMI, OLUMAYOWA OLUREMILEKUN

4,000.00 PTA

UREH PATIENCE

600.00 PTA

DIKE IFEYINWA CATHERINE

4,000.00 PTA

ADEDEJI EGODI OPURICHE

ALABI OYESHOLA TEMITOPE

1,000.00 PTA

ARABAME JOY UWAYEMEN

3,000.00 PTA

1,200.00 PTA

RATE DATE

S/N

CUSTOMERS

360.00 10-Oct-17

300

UNILEVER NIGERIA PLC

5,000.00 BTA

360.00 10-Oct-17

301

MEVOK INVESTMENTS LTD

651.39 NEW AUTO SPARE PARTS

337.50 11-Oct-17

4,000.00 BTA

360.00 10-Oct-17

302

LAND CRAFT INDUSTRIES LTD

509.12 FERRO SILICO MANGANESE

337.50 11-Oct-17

360.00 10-Oct-17

303

UNILEVER NIGERIA PLC

463.00 MIX OF ODORIFEROUS SUSBTANCES

337.50 11-Oct-17

360.00 10-Oct-17

304

UBA PLC

134.00 INTEREST PAYMENT

337.50 11-Oct-17

360.00 10-Oct-17

305

UNILEVER NIGERIA PLC

24.06 VERSENE NA 2 XTL

306

UNILEVER NIGERIA PLC

24.06 VERSENE NA 2 XTL

360.00 10-Oct-17

307

CROWN FLOUR MILL LTD

6,000,000.00 MACHINERY FORANIMAL FEEDING

310.25 11-Oct-17

360.00 10-Oct-17

308

TINCAN ISLAND CONTAINER TERMINAL

1,750,000.00 LOAN REPAYMENT

360.50 11-Oct-17

360.00 10-Oct-17

309

999,965.00 BRAZILIAN CANE RAW SUGAR

360.00 11-Oct-17

360.00 10-Oct-17

310

CHINA UNITY MFG NIG LTD

200,000.00 BUTTERFLY BRAND SEWING MACHINE

360.00 11-Oct-17

360.00 10-Oct-17

311

DE-UNITED FOODS

141,173.83 BOPP LAMINATE AND PET LAMINATE

UBA PENSIONS - UBA PLC

S/N

CUSTOMERS

360.00 9-Oct-17

150

KHALIL MOHAMMED NUR

AMOUNT (US$)

PURPOSE

360.00 9-Oct-17

151

OGBONNIA CRESCENT ODINAKA

360.00 9-Oct-17

152

OKWECHIME ROSE ADA

360.00 9-Oct-17

153

UZOKA LOTANA

4,000.00 PTA

360.00 9-Oct-17

154

OSHINOWO OLADIMEJI OSHIBOWALE

3,000.00 PTA

360.00 9-Oct-17

155

IRIABHO WINIFRED OJEILOBA

4,000.00 PTA

360.00 9-Oct-17

156

SOYINKA AKINFENWA IDRIS

600.00 PTA

360.00 10-Oct-17

360.00 9-Oct-17

157

NWACHUKWU AHAMEFULE CHIMEZIRI

4,000.00 PTA

360.00 9-Oct-17

158

CHIEJINA IFEOMA FRANCESS

4,000.00 PTA

360.00 9-Oct-17

159

OLUWAGBEMIGA IGE CLEMENT

360.00 9-Oct-17

160

TIJANI TAJUDEEN ADEWALE

4,000.00 PTA

360.00 9-Oct-17

161

IDIM ITA IDIM

4,000.00 PTA

4,000.00 BTA

500.00 PTA

RATE DATE

FLOUR MILLS

AMOUNT (US$)

PURPOSE

RATE DATE

665.33 S.D LIME POWDER

337.50 11-Oct-17

337.50 11-Oct-17 337.50 11-Oct-17

11,130.00 SOFTWARE ENHANCEMENT

359.50 11-Oct-17

HALIMAT OLUBUKOLA LAWAL

4,000.00 PTA

360.00 9-Oct-17

162

MUOKA AGATHA IJEOMA

4,000.00 PTA

360.00 10-Oct-17

312

OFIENBOR AMA MAGDALENE

1,000.00 PTA

360.00 9-Oct-17

163

OLUWOLE YETUNDE BUKOLA

3,000.00 PTA

360.00 10-Oct-17

313

OGBONNA NONSO CHIKA

5,000.00 BTA

360.00 11-Oct-17 360.00 12-Oct-17

5,000.00 BTA

360.00 12-Oct-17

828.45 PTA

360.00 12-Oct-17

OGBECHI ANTHONY

500.00 PTA

360.00 9-Oct-17

164

MEDUOYE ANTHONY ODIMAYO

800.00 PTA

360.00 10-Oct-17

314

CHARKIN MARITIME AND OFFSHORE SAFETY

OLANISA OLUSEGUN OLAWALE

300.00 PTA

360.00 9-Oct-17

165

BINTA ISA JAJERE

3,400.00 PTA

360.00 10-Oct-17

315

AKOGOR UKPOR FRIDAY

SALAMI FUNSHO AREMU

700.00 PTA

360.00 9-Oct-17

166

RINGIM ABDU ALHASAN

4,000.00 PTA

360.00 10-Oct-17

316

LAWL KOREDE ABIMBOLA

OLUGBEMI TAIYE SUNDAY

4,000.00 PTA

360.00 9-Oct-17

167

AMESHI CHRISTOPHER

4,000.00 PTA

360.00 10-Oct-17

317

OMOHEGBELE BENEDICTA IZEHI

2,131.04 PTA

360.00 12-Oct-17

OTUYELU OMOLARA MOLLY

4,000.00 PTA

360.00 9-Oct-17

168

MUSA SALLY NANYA

4,000.00

PTA

360.00 10-Oct-17

318

JESSICA OKOROCHUKWU KING

1,331.89 PTA

360.00 12-Oct-17

UGWU UGOCHI CHIOMA

500.00 PTA

360.00 9-Oct-17

169

MASOMINU TOLULOPE A

4,000.00 PTA

360.00 10-Oct-17

319

AKPAN EFFIONG FRANCIS

1,331.89 PTA

360.00 12-Oct-17

ADEJUMO OLUWAGBAMILA HANNAH

700.00 PTA

360.00 9-Oct-17

170

IGONISEIGHA CLARINA A

3,000.00 PTA

360.00 10-Oct-17

320

BAZUAYE O. EHIMWENMA

1,326.89 PTA

360.00 12-Oct-17

AWARITOMA OGHENEOVO

4,000.00 PTA

360.00 9-Oct-17

171

MASOMINU OLUWASEUN A

4,000.00 PTA

360.00 10-Oct-17

321

NWEKE UYAMADU

2,653.78 PTA

360.00 12-Oct-17

SOGULES BOYTON OTONYE

4,000.00 PTA

360.00 12-Oct-17

500.00 PTA

360.00 12-Oct-17

1,997.85 PTA

360.00 12-Oct-17

600.00 PTA

360.00 9-Oct-17

172

AKINRINSOLA OLUWASHOLA

2,000.00 PTA

360.00 10-Oct-17

322

OGAR JOSEPH ADIE

OMEGARA ADA MAUREEN

1,250.00 PTA

360.00 9-Oct-17

173

FAWAZ ROSELINE

4,000.00 PTA

360.00 10-Oct-17

323

EWUMI MURITALA

SHOLANKE IYABODE

4,000.00 PTA

360.00 9-Oct-17

174

OLAYIWOLA BAMIDELE

1,500.00 PTA

360.00 10-Oct-17

324

INNOCENT CHUKWUDI NNAJI

4,000.00 PTA

360.00 12-Oct-17

CHRISTOPHER EZEAFULUKWE

4,000.00 PTA

360.00 9-Oct-17

175

OSHINOWO OLADIMEJI OSHIBOWALE

659.00 PTA

360.00 10-Oct-17

325

OPEYEMI -OYE OLULOLA AYODEJI

4,000.00 PTA

360.00 12-Oct-17

AMOJE OLAYIWOLA MATTHEW

2,300.00 PTA

360.00 9-Oct-17

176

OYENIYI OLAYEMI OLAMIDE

3,960.92 PTA

360.00 10-Oct-17

326

AKOR SUNDAY JOSEPH

4,000.00 PTA

360.00 12-Oct-17

AUDU ABDULKADIR TAJUDEEN

360.00 9-Oct-17

177

ADEDIRAN SUSAN ADEOLA

1,349.92 PTA

360.00 10-Oct-17

327

ALUCHURU PAUL OTUODICHUKWU

MBOHO EMMANUEL U

2,000.00 PTA

360.00 9-Oct-17

178

SAYEED IBRAHIM

1,500.00 PTA

360.00 10-Oct-17

328

ONYEBUCHI ALEXANDER CHIZOBA

4,000.00 PTA

360.00 12-Oct-17

IGBOKWE RAPHAEL NNANNA

4,000.00 PTA

360.00 9-Oct-17

179

MBAH OKECHUKWU

2,372.22 PTA

360.00 10-Oct-17

329

EGHWUBARE OMATIE OMAS

1,500.00 PTA

360.00 12-Oct-17

AJAYI YETUNDE OLUWATOYIN

OMOLOLA ANTHONY ADELANKE

ABEJIDE ROSEQUEEN OLUWATOYIN

FAWOLE ADENIRAN OLUBUKOLA

OLANISA OLUSEGUN OLAWALE

36 37 38

4,000.00 PTA

360.00 12-Oct-17

360.00 9-Oct-17

180

CBN

577,273.30 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

330

ADEYEMI KOLAWOLE ADEFISAYO

2,000.00 PTA

360.00 12-Oct-17

659.00 PTA

360.00 9-Oct-17

181

CBN

482,985.77 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

331

OLOWOKERE PATRICK

4,000.00 PTA

360.00 12-Oct-17

1,977.00 PTA

360.00 9-Oct-17

182

CBN

379,398.20 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

332

CHUKWU PATRICK NDIDI

4,000.00 PTA

360.00 12-Oct-17

131.80 PTA

360.00 9-Oct-17

183

CBN

299,929.22 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

333

OKRIE UWADIEGWU JOHN

4,000.00 PTA

360.00 12-Oct-17

26.60 PTA

360.00 9-Oct-17

184

CBN

290,140.54 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

334

LIGBAGO OLAYEMI OLAJUMOKE

500.00 PTA

360.00 12-Oct-17

OKIN ANTHONIA OYEBOLA

1,337.30 PTA

360.00 9-Oct-17

185

CBN

277,449.79 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

335

OKAFOR ANTHONIA OGECHUKWU

4,000.00 PTA

360.00 12-Oct-17

DAVID UDOM AKPAN

6,520.00 SCHOOL FEES

360.00 9-Oct-17

186

CBN

239,933.99 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

336

CHRIS AKIRI

1,100.00 PTA

360.00 12-Oct-17

ANDREW A IGBAFE

2,150.00 SCHOOL FEES

360.00 9-Oct-17

187

CBN

192,368.85 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

337

APPOLONIA UZOAKU OKWUDISHU

2,000.00 PTA

360.00 12-Oct-17

1,977.00 PTA

BARR C COLLINS

1,460.00 SCHOOL FEES

360.00 9-Oct-17

188

CBN

191,268.09 UNUTILIZED IMTO TRANSFERRED TO CBN

357.00 10-Oct-17

338

OBIKWELU KENNETH CHUKWUMA

1,600.00 PTA

360.00 12-Oct-17

OKOLIE INNOCENT CHINASAOKWU

13,819.78 SCHOOL FEES

360.00 9-Oct-17

189

CBN

168,608.78 COCOA PROCESSING EQUIPMENT

357.00 10-Oct-17

339

BASSEY EYO BASSEY

1,000.00 PTA

360.00 12-Oct-17

MUHAMMAD, SHITTU A

14,498.00 SCHOOL FEES

360.00 9-Oct-17

190

VODACOM BUSINESS AFRICA(NIG) LTD

360.50 10-Oct-17

340

DIMKPA GOODHOPE AANEE

4,000.00 PTA

360.00 12-Oct-17

UMOESSIEN, DAVID MATTHEW

5,272.00 SCHOOL FEES

360.00 9-Oct-17

191

WANDEL INTERNATIONAL(NIG) LTD

134,500.00 THREE WHEELERS MOTORIZED TRICYCLES

360.50 10-Oct-17

341

SOLOMON ALO JEMINI ROSALINE

4,000.00 PTA

360.00 12-Oct-17

PESSU CLARA OMATSEYE

2,636.00 SCHOOL FEES

360.00 9-Oct-17

192

WARREN POINT ELECTRICAL LTD

100,000.00 A/C MOTOR SINGLE PHASE

360.50 10-Oct-17

342

SOLOMON KACHERE BLESSING

4,000.00 PTA

360.00 12-Oct-17

MUHAMMAD AISHAT SHARIF

7,249.00 SCHOOL FEES

360.00 9-Oct-17

193

WANDEL INTERNATIONAL(NIG) LTD

84,500.00 THREE WHEELERS MOTORIZED TRICYCLES

360.50 10-Oct-17

343

OGUNSANAYA GBEMISOLA GRACE

600.00 PTA

360.00 12-Oct-17

AYANSOLA LASISI ALARAPE

10,939.40 SCHOOL FEES

360.00 9-Oct-17

194

LOTUS CONCEPTS TRADING ENTERPRISES

32,000.00 AGRICULTURAL EQUIPMENT

360.50 10-Oct-17

344

ANIEKWE RITA EYIUCHE

4,000.00 PTA

360.00 12-Oct-17

NOCLINK VENTURES LTD

10,781.24 SCHOOL FEES

360.00 9-Oct-17

195

JAWA INTERNATIONAL LTD

25,112.10 PHARMACEUTICAL PACKAGING MATERIALS

360.50 10-Oct-17

345

IJAOLA FOLUKE

DEMONSTRATION SEC. SCH.

14,168.50 SCHOOL FEES

360.00 9-Oct-17

196

GREYSTONE IND LTD

21,999.92 NON ELECTRICAL FAN PARTS

360.50 10-Oct-17

346

NAIYEJU AKINMOLAYAN EMMANUEL

IROM A IROM

13,509.50 SCHOOL FEES

360.00 9-Oct-17

197

GREYSTONE IND LTD

20,148.00 VENTILATING EQUIPMENT

360.50 10-Oct-17

347

FRANEMM INDUSTRIES LTD

NKEECHI LILIAN E

360.00 9-Oct-17

198

WANDEL INTERNATIONAL(NIG) LTD

12,084.25 MOTORIZED TRICYCLES-SPARK IGNITION

360.50 10-Oct-17

348

DANIEL T EGBE

RAYBROS ENTERPRISES NIG. LTD

81,827.75 SUMEC FIRMAN GASOLINE GENERATORS

306.20 9-Oct-17

199

ABBEY, RICHARD

3,304.25 ACCOMODATION FEE

360.00 11-Oct-17

349

SNOW WHITE ENERGY LTD

RAYBROS ENTERPRISES NIG. LTD

18,172.25 SUMEC FIRMAN GASOLINE GENERATORS

306.20 9-Oct-17

200

GENESIS IMPRESSIONS GLOBAL INVEST. LTD.

5,000.00 BTA

360.00 11-Oct-17

350

ES-EL 40 LTD

AMTRONIC INVESTMENTS LTD

39,385.38 SMALL ELECTRIC OVEN

306.25 9-Oct-17

201

NDUKWE IHUOMA JOYCE

5,000.00 BTA

360.00 11-Oct-17

351

GLADSAM OIL

21,358.85 GAS OIL

310.50 9-Oct-17

202

KOMOLAFE LOLA FLORENCE

5,000.00 BTA

360.00 11-Oct-17

352

DANGOTE FLOUR MILLS PLC

2,294.14 BETTER HARD RED WINTER WHEAT

310.50 9-Oct-17

203

OKORONKWO CHUKWU GABRIEL

4,000.00 PTA

360.00 11-Oct-17

353

AYODELE V ADELUSI

6,000.00 SCHOOL FEES

PLUM PETROLEUM LTD

1,874.13 MAIN MACHINERY- HOOPER

310.50 9-Oct-17

204

AKPOJAROH ADOGBEJI ANTHONY

4,000.00 PTA

360.00 11-Oct-17

354

MAHMOUD KASSIM ADOGA

1,800.00 SCHOOL FEES

360.00 12-Oct-17

LINTO INDUSTRIES LTD

1,642.58 DRIED FISH HEADS

310.50 9-Oct-17

205

MALOMO SYLVIA OMONIRUME

4,000.00 PTA

360.00 11-Oct-17

355

SERIFAT F OLASOKO

10,220.00 SCHOOL FEES

360.00 12-Oct-17

UBA PENSIONS CUSTODIAN LTD

1,500.00 PTA

156,593.00 PAYMENT FOR NETWORK SERVICES

4,000.00 PTA

360.00 12-Oct-17

1,500.00 PTA

360.00 12-Oct-17

10,588.61 SCHOOL FEES

360.00 12-Oct-17

3,995.70 SCHOOL FEES

360.00 12-Oct-17

13,132.53 SCHOOL FEES

360.00 12-Oct-17

7,525.24 SCHOOL FEES

360.00 12-Oct-17

COMFORT ARUYA

15,000.00 SCHOOL FEES

360.00 12-Oct-17

JUDITH E MBONU

14,951.40 SCHOOL FEES

360.00 12-Oct-17 360.00 12-Oct-17

LINTO INDUSTRIES LTD

310.50 9-Oct-17

206

ADEAMODU BIRIKISU ADERINRE

360.00 11-Oct-17

356

PROMASIDOR NIG LTD

1,384.79 MILK POWDER

310.50 9-Oct-17

207

OLADESI OLAIYA MOSHOOD

800.00 PTA

360.00 11-Oct-17

357

KAM INDUSTRIES NIG LTD

MANTRAC

1,234.50 HYDRAULIC EXCAVATORS

310.50 9-Oct-17

208

TEMISANANREN TESINRO PATRICIA

2,000.00 PTA

360.00 11-Oct-17

358

KAM INDUSTRIES NIG LTD

ASHAKA CEMENT

1,205.00 OVER HAULING SPARES MACHINES

310.50 9-Oct-17

209

OJIBE NNESOCHI ANGELA

4,000.00 PTA

360.00 11-Oct-17

359

FLOUR MILL(REPLACEMENT)

MANTRAC

1,192.50 USED CATERPILLLAR TRACK EXCAVATOR

310.50 9-Oct-17

210

KIDA MOHAMMED IBRAHIM

4,000.00 PTA

360.00 11-Oct-17

360

DHL

500,000.00 PAYMENT FOR INTERNATIONAL COURIER SERVICES

INLAKS COMPUTERS LTD

1,130.00 BANKING ATM SPARES

310.50 9-Oct-17

211

TABIOWO CHRISTABEL IMMANUELA

4,000.00 PTA

360.00 11-Oct-17

361

FLOUR MILL(REPLACEMENT)

496,696.32 ARGENTINIAN MAIZE IN BULK

CHI LTD

1,002.72 ARLA WHOLE MILK POWDER

310.50 9-Oct-17

212

USMAN AUWAL MUSA

4,000.00 PTA

360.00 11-Oct-17

362

ADEJARE R ADEDOJA

2,100.00 LIVING EXPENSE

360.00 13-Oct-17

NIGERITE LTD

1,000.72 WOODPULP FOR CEMENT APPLICATION

310.50 9-Oct-17

213

AROMO OLUFUNMILAYO MARY

250.00 PTA

360.00 11-Oct-17

363

OLUMOROTI G GEORGE

7,221.61 ACCOMMODATION FEE

360.00 13-Oct-17

1,621.31 DRIED FISH HEADS

2,000.00 PTA

2,000.00 SUBSCRIPTION FEES

360.00 12-Oct-17

50,000.00 HOT ROLLING MILL MACHINERY 100,000.00 HOT ROLLING MILL PLANT ACCESSORIES 1,503,303.68 BRAZILIAN CANE RAW SUGAR

306.15 12-Oct-17 306.20 12-Oct-17 360.50 12-Oct-17 360.00 12-Oct-17 360.50 12-Oct-17

ASHAKA CEMENT

800.00 FILTER BAGS ARAMID (NOMEX)

310.50 9-Oct-17

214

NNAMANI PETER OKECHUKWU

1,000.00 PTA

360.00 11-Oct-17

364

OKWUWOLU BEN WOLU

5,000.00 ACCOMODATION AND LIVING EXP

360.00 13-Oct-17

CHI LTD

631.95 ARLA WHOLE MILK POWDER

310.50 9-Oct-17

215

ORONSAYE ENIFO FRANCIS

1,000.00 PTA

360.00 11-Oct-17

365

OKWUWOLU BEN WOLU

5,000.00 ACCOMODATION AND FEEDING

360.00 13-Oct-17

PREMIER FEED MILLS COMPANY LIMTED

620.00 BELT CONVEYOR WITH SEW MOTOR

310.50 9-Oct-17

217

PHILLIPS BABATUNDE AKINDELE

2,000.00 PTA

360.00 11-Oct-17

366

UWA LAWRENCE UMUNNAKWE

MANTRAC

585.00 USED CATERPILLAR 434E- BACKHOE LOADER

310.50 9-Oct-17

218

LAWAL ADEPEJU ADEJOKE

4,000.00 PTA

360.00 11-Oct-17

367

OYEGBADE HANNAH MORISOLA

5,000.00 BTA

360.00 13-Oct-17

BIORAJ PHARMACEUTICALS LTD

535.00 PARACETAMOL BP/USP

310.50 9-Oct-17

219

LAWAL SAHEEB ALOWONLE

4,000.00 PTA

360.00 11-Oct-17

368

BOYO OMADELI AUGUSTUS

3,000.00 BTA

360.00 13-Oct-17

EZEYIM EMMANUEL EMMANUEL

4,500.00 BTA

360.00 13-Oct-17

5,000.00 BTA

360.00 13-Oct-17

CHI LTD

310.50 9-Oct-17

220

ONYIWE BERNARD

500.00 PTA

360.00 11-Oct-17

369

PREMIER FEED MILLS COMPANY LIMTED

425.00 BIOLYS

310.50 9-Oct-17

221

MUKHTAR SADIQ

1,200.00 PTA

360.00 11-Oct-17

370

AGBEDE OLUWOLE SAMUEL

3,997.17 PTA

360.00 13-Oct-17

NEXANS KABELMETAL NIGERIA PLC

425.00 GALVANISED STEEL WIRE

310.50 9-Oct-17

222

UKIM OKON EDEM IFIOK

2,000.00 PTA

360.00 11-Oct-17

371

INYANG INYANGETE NANCY

3,997.17 PTA

360.00 13-Oct-17

J N I INDUSTRIES

415.00 BALER TWINE

310.50 9-Oct-17

223

KOMOLAFE OLUGBENGA MATHEW

4,000.00 PTA

360.00 11-Oct-17

372

ONYEKABA, EKWUTOSI NWAKAEGO

1,500.00 PTA

360.00 13-Oct-17

HONEYWELL FLOUR MILLS LTD

415.00 RUSSIAN WHEAT

310.50 9-Oct-17

224

AGBELUSI ABAYOMI EBENEZER

2,700.00 PTA

360.00 11-Oct-17

373

OGOLO CHINYERE SANDRA

4,000.00 PTA

360.00 13-Oct-17

WEST AFRICAN SEASONING CO. LTD

415.00 TESTLINER IN REELS FOR THE INDUSTRY

310.50 9-Oct-17

225

UDOM JEREMIAH GODWIN

1,000.00 PTA

360.00 11-Oct-17

374

DAGUNDURO OLUWASEUN OLADAYO

350.00 PTA

360.00 13-Oct-17

DANGOTE FLOUR MILLS PLC

390.00 CABLING FOR CEMENT PLANT

310.50 9-Oct-17

226

WOKOCHA OMEMGBOJI BRIGHT

4,000.00 PTA

360.00 11-Oct-17

375

DIDI KERRY EMEKA

PROMASIDOR NIG LTD

300.00 WHOLE MILK POWDER FORTIFIED

310.50 9-Oct-17

227

OSONDU NKEMAKOLEM DERRICK

796.13 PTA

360.00 11-Oct-17

376

SOGEKE ITUNU AYODELE

4,000.00 PTA

360.00 13-Oct-17

MANTRAC

300.00 2 DP50NTD CS FORK LIFT TRUCKS

310.50 9-Oct-17

228

TEMILE OTIOTO

2,653.80 PTA

360.00 11-Oct-17

377

ABANIKANDA FOLAWERO BOLA

4,000.00 PTA

360.00 13-Oct-17

PROMASIDOR NIGERIA LTD

300.00 BULK MULTI PLY LOYA WHOLE MILK POWDER

310.50 9-Oct-17

229

AKINTEMI OLUFEMI STEPHEN

2,123.04 PTA

360.00 11-Oct-17

378

OKAFOR MICHAEL ANAETO

4,000.00 PTA

360.00 13-Oct-17

PROMASIDOR NIG LTD

300.00 BULK MULTI-PLY BAGS MILK POWDER

310.50 9-Oct-17

230

ALIGASIM MODUPE

3,960.92 PTA

360.00 11-Oct-17

379

OKEOWO GRACE FOLASHADE

4,000.00 PTA

360.00 13-Oct-17

MANTRAC

281.27 GAS DRIVEN GENERATING SET AND RADIATOR

310.50 9-Oct-17

231

KANU AMAKA VICTOR

3,960.92 PTA

360.00 11-Oct-17

380

ONIWAWO IGNATIUS

4,000.00 PTA

360.00 13-Oct-17

6,929.92 SCHOOL FEES

4,000.00 PTA

360.00 13-Oct-17

526.27 ARLA WHOLE MILK POWDER

DANGOTE FLOUR MILLS PLC

265.00 BETTER HARD RED WINTER WHEAT IN BULK

310.50 9-Oct-17

232

CHINEYE R CHUKUDI

MANTRAC

260.00 CATERPILLAR 320DL UPPER STRUCTURE

310.50 9-Oct-17

233

GODEC POWER NIGERIA LTD

DIZENGOFF W.A NIG LTD

200.00 AGRICULTURAL HERBICIDE

310.50 9-Oct-17

234

SENATOR R LADOJA

337.50 9-Oct-17

EDO CEMENT CO. LTD.

157,542.80 MACHINERY AND EQUIPMENT

BUA SUGAR REFINERY LTD

118,572.61 RAW SUGAR IN BULK

EDO CEMENT CO. LTD.

64,407.08 MACHINERY AND EQUIPMENT

3,000.00 PTA

360.00 13-Oct-17

360.00 11-Oct-17

381

ENEMUO ROSE ADAORA

8,225.12 SCHOOL FEES

360.00 11-Oct-17

382

AMEDE ERIC

1,300.00 PTA

360.00 13-Oct-17

10,960.67 SCHOOL FEES

360.00 11-Oct-17

383

ENYINNA IHEANYI THADDEUS

4,000.00 PTA

360.00 13-Oct-17

235

OGBU UCHENNA

360.00 11-Oct-17

384

OGUNSOLA ABOSEDE DAMI

1,000.00 PTA

360.00 13-Oct-17

337.50 9-Oct-17

236

BONAT YOHANA

2,753.75 SCHOOL FEES

360.00 11-Oct-17

385

OBIORA ADAUGO LYNDA

4,000.00 PTA

360.00 13-Oct-17

337.50 9-Oct-17

237

UMA UMA & CO

1,600.00 SCHOOL FEES

360.00 11-Oct-17

386

TAMUNO ALAFONYEKA CHRIS

4,000.00 PTA

360.00 13-Oct-17

6,000.00 SCHOOL FEES

337.50 9-Oct-17

238

GEOMEEZ SURVEY SERVICES LTD

15,000.00 SCHOOL FEES

360.00 11-Oct-17

387

UZAMERE OLUSOLA OSAZE

1,200.00 PTA

360.00 13-Oct-17

337.50 9-Oct-17

239

MERCHANDISE MACNCHES

3,000.00 SCHOOL FEES

360.00 11-Oct-17

388

IFAYASE OLUFEMI OLUDARE

900.00 PTA

360.00 13-Oct-17

9,262.58 4000MT (+/- 10%) OF BASEOIL

337.50 9-Oct-17

240

OSONDU N JAJA

5,770.00 SCHOOL FEES

360.00 11-Oct-17

389

EYITEMI VICTOR OMAMULI

400.00 PTA

360.00 13-Oct-17

DE UNITED FOODS INDUSTRIES LTD

6,973.92 EQUIPMENT FOR SEASONING PLANT

337.50 9-Oct-17

241

AHMED M IYA

1,530.00 SCHOOL FEES

360.00 11-Oct-17

390

IBRAHEEM ANIFAT BOLADALE

2,000.00 PTA

360.00 13-Oct-17

NIGERCHIN ELECTRICAL DEV

6,506.79 ESSENTIAL RAW MATERIAL

337.50 9-Oct-17

242

ODERINU, KUNLE

3,189.15 SCHOOL FEES

360.00 11-Oct-17

391

JAMES ANDY

4,000.00 PTA

360.00 13-Oct-17

DE UNITED FOODS INDUSTRIES LTD

5,018.00 FLAVOR CHICKEN (KAD)

337.50 9-Oct-17

243

OGUNDIPE JOSEPH GODS TIME INT’L COMP.

5,891.68 SCHOOL FEES

360.00 11-Oct-17

392

ALAGBON AYODELE DAMI

4,000.00 PTA

360.00 13-Oct-17

PROMASIDOR NIG LTD

4,626.25 BULK MULTI-PLY BAGS COWBELL MILK

337.50 9-Oct-17

244

OGUNDIPE JOSEPH GODS TIME INTL CO

6,126.48 SCHOOL FEES

360.00 11-Oct-17

393

AGOHA UCHENNA KELECHI NONYE

400.00 PTA

360.00 13-Oct-17

3,345.34 FLAVOR CHICKEN (KAD)

337.50 9-Oct-17

245

OKERE EZE TONY

1,000.00 SCHOOL FEES

360.00 11-Oct-17

394

DUNKWU ANTHONIA IFEYINWA

2,000.00 PTA

360.00 13-Oct-17

2,779.77 EVAPORATED UNSWEETENED FULL CREAM MILK

337.50 9-Oct-17

246

MUSTAPHA LAWAL

11,000.00 SCHOOL FEES

360.00 11-Oct-17

395

CHUKWU TINA OLUCHI

2,000.00 PTA

360.00 13-Oct-17

337.50 9-Oct-17

247

MADUABUM CHINWE MARY-JOE

15,000.00 SCHOOL FEES

360.00 11-Oct-17

396

ADEDINI KATERINE REMI

4,000.00 PTA

360.00 13-Oct-17

2,398.54 WHOLE MILK POWDER

337.50 9-Oct-17

248

STELLA O OBIAMAKA

2,000.00 SCHOOL FEES

360.00 11-Oct-17

397

RANDOLPH BROWN ESTHER IBINYE

3,500.00 PTA

360.00 13-Oct-17

2,027.84 ESSENTIAL INDUSTRIAL RAW MATERIALS

337.50 9-Oct-17

249

EROMOSELE CASSANDRA

1,100.00 SCHOOL FEES

360.00 11-Oct-17

398

TEMITURO SAMUEL ROTIMI

1,905.75 ELECTRIC WIRE AND CABLE MATERIAL

337.50 9-Oct-17

250

IMEOBONG O ATIATA

1,100.00 SCHOOL FEES

360.00 11-Oct-17

399

DE UNITED FOODS INDUSTRIES LTD

41,424.08 EQUIPMENT FOR SEASONING PLANT

MTN NIGERIA COMMUNICATIONS LTD

18,274.93 TELECOMMUNICATION EQUIPMENT

TOTAL NIG PLC

91 92 93 94 95

DE UNITED FOODS INDUSTRIES LTD

FREISLANDCAMPINA WAMCO NIG PLC

AIRTEL NETWORKS LTD

2,624.09 ERICSSON TELECOM EQUIPMENT

CHI LTD

SAMKING CHEMICALS NIGERIA LTD

100

NIGERCHIN ELECTRICAL DEV

700.00 PTA

360.00 13-Oct-17

EMERIBE CHIOMA CAROL

4,000.00 PTA

360.00 13-Oct-17

KABIR ADESINA

3,500.00 PTA

360.00 13-Oct-17

101

NIGERIA BOTTLING COMPANY PLC

1,828.63 POLYETHELENE FILMS

337.50 9-Oct-17

251

OKEHI O DANIEL

10,100.30 SCHOOL FEES

360.00 11-Oct-17

400

102

PROMASIDOR NIGERIA LTD

1,594.08 POWDER FORTIFIED COWBELL MILK

337.50 9-Oct-17

252

ILUOBE O ALBERT

5,967.76 SCHOOL FEES

360.00 11-Oct-17

401

OFFODILE OGECHUKWU VIVIEN

103

PROMASIDOR NIGERIA LTD

1,490.55 COWBELL INSTANT MILK POWDER

337.50 9-Oct-17

253

UMOESSIEN, DAVID MATTHEW

5,281.20 SCHOOL FEES

360.00 11-Oct-17

402

JIDEOFOR IFEANYI EMMANUEL

4,000.00 PTA

360.00 13-Oct-17

104

DE UNITED FOODS INDUSTRIES LTD

1,441.30 CUTTER BOX FOR W FUJI

337.50 9-Oct-17

254

KPOUDOSU E OBIYAI

6,331.50 SCHOOL FEES

360.00 11-Oct-17

403

BANJO ABOSEDE TEMITOPE

4,000.00 PTA

360.00 13-Oct-17

105

PROMASIDOR NIGERIA LTD

1,433.03 COWBELL INSTANT MILK POWDER

337.50 9-Oct-17

255

AKANBI R ADESOJI

14,523.30 SCHOOL FEES

360.00 11-Oct-17

404

MARKE YOSI AKINJOGUNLA

4,000.00 PTA

360.00 13-Oct-17

106

DAG MOTORCYCLE IND NIG LTD

1,320.97 BAJAJ RE 4S 198.88CC AUTORISCKSHAW

337.50 9-Oct-17

256

THOMAS G DOUGLAS

6,865.56 SCHOOL FEES

360.00 11-Oct-17

405

BADMUS BASIRAT TOBI

4,000.00 PTA

360.00 13-Oct-17

107

DAG MOTORCYCLE IND NIG LTD

1,320.97 BAJAJ RE 4S198.88CC AUTORICKSHAW

337.50 9-Oct-17

257

DUMBIRI O NWACHUKWU

14,595.90 SCHOOL FEES

360.00 11-Oct-17

406

AGBOOLA OLUSOLA ABIMBOLA

4,000.00 PTA

360.00 13-Oct-17

108

PROMASIDOR NIGERIA LTD

1,181.74 COWBELL INSTANT MILK POWDER

337.50 9-Oct-17

258

MICHAEL SADO

13,375.15 SCHOOL FEES

360.00 11-Oct-17

407

DADA EMMANUEL OLUSEGUN

400.00 PTA

360.00 13-Oct-17

109

FINE CHEMICAL NIGERIA LTD

1,176.79 SOLBIN A QTY 11800 KG & SOLBIN M5

337.50 9-Oct-17

259

INDEMNITY PARTNERS

14,595.90 SCHOOL FEES

360.00 11-Oct-17

408

CHINWUBA JAMES KAYCEE

1,000.00 PTA

360.00 13-Oct-17

110

DE-UNITED FOODS IND LTD

1,163.40 SEASONING PRODUCTION MATERIAL

337.50 9-Oct-17

260

ADIRA NIGERIA TRADING CO LTD

306.20 11-Oct-17

409

OKOLO FRANCESS CHINYERE

4,000.00 PTA

360.00 13-Oct-17

111

DE-UNITED FOODS IND LTD

1,163.40 SEASONING PRODUCTION MATERIAL

337.50 9-Oct-17

261

ETERNA PLC

306.30 11-Oct-17

410

ANTHONY A NNAEMEGO

13,945.64 SCHOOL FEES

360.00 13-Oct-17

112

DE-UNITED FOODS IND LTD

1,107.07 SEASONING PRODUCTION MATERIAL

337.50 9-Oct-17

262

NIGERIAN BOTTLING CO LTD

720,829.93 AMORPHOUS PET CHIPS

320.50 11-Oct-17

411

NORVIRG OIL & GAS LTD

13,324.00 SCHOOL FEES

360.00 13-Oct-17

113

DE-UNITED FOODS IND LTD

1,107.07 SEASONING PRODUCTION MATERIAL

337.50 9-Oct-17

263

GLOBE SPINNING MILLS NIGERIA LTD

475,000.00 HYGIENIC PADS

320.50 11-Oct-17

412

AETHELBIRTH MUOKA

8,660.60 SCHOOL FEES

360.00 13-Oct-17

100,000.00 SODIUM SALT OF PALMITIC ACID 100,000.00 BASE OIL

4,000.00 PTA

360.00 13-Oct-17

114

FREISLANDCAMPINA WAMCO NIG PLC

1,093.52 INDUSTRIAL RAW MATERIAL

337.50 9-Oct-17

264

AFRICAN WIRE AND ALLIED IND (NIG) LTD

465,318.84 INDUSTRIAL RAW MATERIAL

320.50 11-Oct-17

413

AHUA TERNA

115

TEMPO PAPER PULP AND PACKAGING LTD

1,047.75 POLYPROPYLENE HOMOPOLYMER

337.50 9-Oct-17

265

AFRICAN WIRE AND ALLIED IND (NIG) LTD

346,900.00 INDUSTRIAL MACHINERY

320.50 11-Oct-17

414

OMORUYI CHRISTIE NOWUOGHOMWENMA

116

TEMPO PAPER PULP AND PACKAGING LTD

1,047.75 POLYPROPYLENE HOMOPOLYMER

337.50 9-Oct-17

266

VIJU IND

320.50 11-Oct-17

415

EBENEZER G ADEPOJU

117

PARDEE FOODS NIG. LTD

935.00 INSTANT FULLCREAM MILKPOWDER

337.50 9-Oct-17

267

VEEVEE PAPERS PRODUCTS LTD

245,722.21 TESTLINER IN REELS

320.50 11-Oct-17

416

U. B BADAMASI

118

HPZ LTD

922.39 WASHING MACHINES

337.50 9-Oct-17

268

CROWN FLOUR MILLS LTD

235,036.34 ARGENTINE BREAD WHEAT

320.50 11-Oct-17

417

SYSTEM DYNAMICS (NIGERIA) LTD

119

UNIQUE PARM LTD

866.25 MAIZE STARCH POWDER

337.50 9-Oct-17

269

WAHUM PACKAGING

200,975.75 SEMI CHEMICAL FLUTING

320.50 11-Oct-17

418

ADEJARE R ADEDOJA

6,529.80 SCHOOL FEES

360.00 13-Oct-17

120

PROMASIDOR NIGERIA LTD

746.97 MIKSI FAT-FILLED MILK POWDER

337.50 9-Oct-17

270

NIGERIAN BOTTLING CO LTD

320.50 11-Oct-17

419

OGUNTILOYE OLOWOLAYEMO JOSEPH

3,500.00 SCHOOL FEES

360.00 13-Oct-17

121

PRIMEPAK INDUSTRIES NIG LTD

716.45 POLYESTER FILM

337.50 9-Oct-17

271

SAMKING CHEMICALS NIG LTD

320.50 11-Oct-17

122

PRIMEPAK INDUSTRIES NIG LTD

685.79 POLYESTER FILM

337.50 9-Oct-17

272

SAMKING CHEMICALS NIG LTD

123

AC OKECHUKWU NIG LTD

656.25 NEW SPARE PARTS

337.50 9-Oct-17

273

NEW HOME PRODUCTS IND LTD

119,500.00 SCANFROST BRAND AIR CONDITIONER 117,845.62 INTEREST PAYMENT

248,600.00 POLYETHYLENE TEREPHTHALATE

85,750.85 AMORPHOUS PET CHIPS (BC3020) 32,601.00 ESSENTIAL INDUSTRIAL RAW MATERIALS 32,599.00 ESSENTIAL INDUSTRIAL RAW MATERIALS

5,329.60 SCHOOL FEES

360.00 13-Oct-17

13,324.00 SCHOOL FEES

360.00 13-Oct-17

3,500.00 SCHOOL FEES

360.00 13-Oct-17

6,000.00 SCHOOL FEES

360.00 13-Oct-17

14,983.00 SCHOOL FEES

360.00 13-Oct-17

420

IJEZIE HUMPHERY OKAFOR

5,326.25 SCHOOL FEES

360.00 13-Oct-17

320.50 11-Oct-17

421

BOSUN AREBUWA & COMPANY

5,397.26 SCHOOL FEES

360.00 13-Oct-17

337.50 11-Oct-17

422

EMEKA C OKOH

3,500.00 SCHOOL FEES

360.00 13-Oct-17

124

SAMKING CHEMICALS NIG LTD

503.63 ESSENTIAL INDUSTRIAL RAW MATERIAL

337.50 9-Oct-17

274

UBA PLC

337.50 11-Oct-17

423

EGOR F EGBE

1,500.00 SCHOOL FEES

360.00 13-Oct-17

125

DE UNITED FOODS INDUSTRIES LTD

500.00 EQUIPMENT FOR SEASONING PLANT

337.50 9-Oct-17

275

HONEYWELL FLOUR MILLS LTD

58,424.41 BETTER HARD RED WINTER WHEAT

337.50 11-Oct-17

424

BABATUNJI A OMOTARA

4,599.60 SCHOOL FEES

360.00 13-Oct-17

126

SAMKING CHEMICALS NIG LTD

500.00 ESSENTIAL INDUSTRIAL RAW MATERIAL

337.50 9-Oct-17

276

HONEYWELL FLOUR MILLS LTD

54,614.12

BETTER HARD RED WINTER WHEAT

337.50 11-Oct-17

425

KEMI ADETOLA ADENIYI-THOMAS

2,893.45 SCHOOL FEES

360.00 13-Oct-17

127

DE UNITED FOODS INDUSTRIES LTD

53,344.03

BETTER HARD RED WINTER WHEAT

431.26 25KGX 1040CTNS BULLET CHILLI POWDER

337.50 9-Oct-17

277

HONEYWELL FLOUR MILLS LTD

128

PRIMEPAK INDUSTRIES NIG LTD

425.07 POLYETHYLENE GRANULES

337.50 9-Oct-17

278

EDO CEMENT CO. LTD.

48,801.03 MACHINERY AND EQUIPMENT

337.50 11-Oct-17

129

HPZ LTD

383.00 HAIER THERMOCOOL- WASHING MACHINE

337.50 9-Oct-17

279

HONEYWELL FLOUR MILLS LTD

40,095.30 HARD RED WINTER WHEAT

337.50 11-Oct-17

130

HPZ LTD

380.00 HAIER THERMOCOOL- WASHING MACHINE

337.50 9-Oct-17

280

UBA PLC

31,002.50 INTEREST PAYMENT

337.50 11-Oct-17

131

SAMKING CHEMICALS NIGERIA LTD

358.58 ESSENTIAL INDUSTRIAL RAW MATERIALS

337.50 9-Oct-17

281

EDO CEMENT CO. LTD.

22,444.73 MACHINERY AND EQUIPMENT

337.50 11-Oct-17

132

SKY IND NIG LTD

299.51 LOW DENSITY POLYETHYLENE LOTRENE

337.50 9-Oct-17

UBA PLC

17,415.00 INTEREST PAYMENT

337.50 11-Oct-17

133

UNIQUE PARM LTD

250.00 VARIOUS PRODUCTS FOR PHARMACEUTICAL

337.50 9-Oct-17

283

UBA PLC

14,567.38 INTEREST PAYMENT

337.50 11-Oct-17

134

UNIQUE PARM LTD

250.00 RAW MATERIAL FOR PHARMACEUTICAL

337.50 9-Oct-17

284

EDO CEMENT CO. LTD.

14,467.51 GYPSUM IN BULK

337.50 11-Oct-17

135

DIZENGOFF W.A NIG LTD

123.16 COMPLETE IRRIGATION ACCESSORIES

337.50 9-Oct-17

285

EDO CEMENT CO. LTD.

11,149.25 MACHINERY AND EQUIPMENT

337.50 11-Oct-17

136

UNIQUE PARM LTD

122.55 RAW MATERIAL FOR PHARMACEUTICAL

337.50 9-Oct-17

286

CKS INTERNATIONAL LTD

137

GLAXOSMITHKLINE CONSUMER PLC

100.00 PRECIPITATED SILICA

337.50 9-Oct-17

287

138

STANMARKM COCOA PROCCESS. COMP. LTD

118.28 NEW COCOA PROCESSING EQUIPMENT

315.00 9-Oct-17

288

139

STANMARKM COCOA PROCESSING COMP. LTD

118.28 BAYSILONE WATER REPELLENT

315.00 9-Oct-17

289

140

NIGERITE LTD

100.53 TETRA PAK PACKAGING MATERIAL

315.00 9-Oct-17

290

CKS INTERNATIONAL LTD

3,101.53 RAW MATERIALS (MSG) FOR SEASONING

337.50 11-Oct-17

141

CHI LTD

8,939.80 MALTINA 33 CL PET SLEEVE LABEL

315.00 9-Oct-17

291

PARDEE FOODS NIG LTD

1,969.54 HYROGENATED VEGETABLE FAT

337.50 11-Oct-17

142

NIGERIA BREWERIES

3,129.29 HIGH SPEED FILLING LINE

315.00 9-Oct-17

292

PROMASIDOR NIG LTD

1,478.38 COWBELL TINA INFANT FORMULA

337.50 11-Oct-17

143

TOTAL NIG PLC

4,485.41 POLYURETHANE FOR SHOE SOLES

337.50 9-Oct-17

293

SEVEN-UP BOTTLING CO. PLC

1,276.90 SOFT DRINKS-POLYPROPHYLENE-CLOSURES

337.50 11-Oct-17

144

ANZZY IND CO NIG LTD

378.23 BRITESORB POLYETHYLENE BAGS

337.50 9-Oct-17

294

DEE LITE NIG

1,198.66 FOSTER CLARK INSTANT FLAVOUR DRINK

337.50 11-Oct-17

145

NIGERIA BREWERIES

350.46 BRITESORB POLYETHYLENE BAGS

337.50 9-Oct-17

295

CKS INTERNATIONAL LTD

1,147.83 RAW MATERIALS FOR SEASONING

146

GOLDEN AGRIC INPUT LTD

361.00 9-Oct-17

296

CYBELE COSMETICS LTD

995.00 IML LABELS

337.50 11-Oct-17

147

STELLA O OBIAMAKA

360.50 9-Oct-17

297

CYBELE COSMETICS LTD

855.00 BUTANE GAS HS CODE 2711.1300

337.50 11-Oct-17

148

CHUKWUEMEKA NGOZIKA PATRICIA

5,000.00 BTA

360.00 10-Oct-17

298

DEE-LITE NIG LTD

835.93 FOSTER CLARK INSTANT FLAVOUR DRINK

337.50 11-Oct-17

149

MUHAMMED FARIDA BARAU

4,000.00 BTA

360.00 10-Oct-17

299

CYBELE COSMETICS LTD

772.48 WHITE PETROLEUM JELLY

337.50 11-Oct-17

www.ubagroup.com

1,000,000.00 ARGENTINIAN MAIZE IN BULK 2,000.00 LIFE INSURANCE

282

337.50 11-Oct-17

5,136.62 ESSENTIAL SEASONING RAW MATERIALS

337.50 11-Oct-17

SEVEN-UP BOTTLING CO. PLC

4,113.01 SEVEN UP EMERALD

337.50 11-Oct-17

UBA PLC

4,030.00 INTEREST PAYMENT

337.50 11-Oct-17

UNIQUE PARM LTD

3,603.66 RAW MATERIAL FOR PHARMACEUTICAL

337.50 11-Oct-17

Africa’s global bank

TUESDAY, OCTOBER 17, 2017 ˾ T H I S D AY

INTERNATIONAL

email:foreigndesk@thisdaylive.com

Austrian Conservative Set to Become World’s Youngest Leader Austria’s conservative People’s Party (ÖVP), led by 31-year-old Sebastian Kurz, is set to win the country’s general election, projections suggest. The victory would make Mr Kurz the world’s youngest leader. The People’s Party was set

to win 30.2%, followed by the far-right Freedom Party (FPÖ) with 26.8% and the Social Democrats with 26.3%. Short of a majority, Mr Kurz’s party could seek an alliance with the FPÖ, which campaigned against immigration. Immigration has been a

Somalia: At Least 137 Dead in Mogadishu Blasts A massive bomb attack in a busy area of the Somali capital Mogadishu on Saturday is now known to have killed at least 137 people, police say. Hundreds more were wounded when a lorry packed with explosives detonated near the entrance of a hotel. It is one of the deadliest attacks in Somalia since the Islamist al-Shabab group launched its insurgency in 2007. It is not clear who staged the bombing, but Mogadishu is a target for al-Shabab militants battling the government. President Mohamed Abdullahi “Farmajo” Mohamed has declared three days of mourning for the victims of the blast. Local media reported families gathering in the area on Sunday

dominant issue in the runup to the vote, and the FPÖ is thought to have its best chance in years of returning to government. The party narrowly missed out on the presidency in December when Norbert Hofer was defeated by Alexander Van der Bellen, head of the Greens, who won with about 53% of the votes. The election comes amid anxiety in Europe over the huge inﬂux of undocumented

migrants and refugees in 2015, which fuelled an electoral breakthrough by the far right in neighbouring Germany last month. Party reinvented If the projections are correct, a political shake-up could be on the cards in Austria, the BBC’s Bethany Bell reports from Vienna. After more than a decade in which the Social Democrats have led a coalition with the conservatives, the mood in Austria seems to be moving

to the right, our correspondent says. Mr Kurz, the outgoing foreign minister, reinvented the ÖVP after becoming leader in May, moving it rightward with promises to: t4IVU EPXO NJHSBOU SPVUFT to Europe

t$BQ CFOFmU QBZNFOUT UP SFG t#BS PUIFS GPSFJHOFST GSPN receiving beneﬁts until they have lived in Austria for ﬁve years Mr Kurz forced the snap election when he refused to continue in coalition with the Social Democrats, led by incumbent Chancellor Christian Kern.

morning, looking for missing loved ones amid the ruins of one of the largest bombs ever to strike the city. Police official Ibrahim Mohamed told AFP news agency the death toll is likely to rise. “There are more than 300 wounded, some of them seriously,” he said. Officials also confirmed that two people were killed in a second bomb attack in the Madina district of the city. A BBC Somali reporter at the scene of the main blast said the Safari Hotel had collapsed, with people trapped under the rubble. An eyewitness, local resident Muhidin Ali, told news agency AFP it was “the biggest blast I have ever witnessed, it destroyed the whole area”.

SOURCES OF FOREIGN EXCHANGE AS AT 13TH OF OCTOBER 2017 S/N 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS CBN CBN AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO IMTO

www.ubagroup.com

AMOUNT (US$) 98.04 124.32 330.00 340.00 350.00 482.00 542.12 650.00 1,545.00 3,022.00 3,175.00 28.80 57.60 77.18 138.24 139.32 201.60 67.01 155.21 23,680.70 80,000.00 2,000,000.00 3,000,000.00 10.02 281.25 290.00 572.31 2,380.00 3,814.24 5,000.00 68,541.70 115.52 261.07 141.77 245.36 31,847.13 150,000.00 218,920.00 6,370.40 3,174.31 4,020.94 2,761.95 4,397.51 570,902.90 365,912.11 375,000.69 296,754.91 252,262.17 2,593.04 2,636.23 2,901.55 3,301.79 5,565.46 222,218.67

RATE 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.00 314.00 357.00 357.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.00 314.00 315.00 354.61 354.62 354.65 354.67 354.69 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00 355.00

DATE 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 9-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17

S/N 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108

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

AMOUNT (US$) 253,590.25 477,420.31 286,838.75 237,297.76 6,450.00 197,600.00 35,000.00 290.00 750.00 2,400.00 927,696.97 52.16 173.88 347.76 579.60 695.52 1,159.20 11,592.00 64.94 376.62 6,000,000.00 77,400.00 120,000.00 299,990.00 380,000.00 200,000.00 141,173.83 999,965.00 38.12 71.00 73.07 77.00 84.82 122.64 150.94 175.00 185.00 190.00 200.00 288.75 366.70 384.00 415.00 440.00 475.00 500.00 580.00 665.00 889.20 975.00 990.00 1,200.00 1,500.00 2,850.00

RATE 355.00 355.00 355.00 355.00 358.00 359.00 359.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.00 359.00 359.00 359.00 359.00 359.00 359.50 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00

DATE 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 10-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 11-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17

S/N 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 160 161

SOURCE AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS AUTONOMOUS

AMOUNT (US$) 619,354.84 348,387.10 34.92 116.39 126.45 206.01 540.05 558.67 663.42 1,163.90 2,909.75 190.27 1,709.80 10,035.97 318.48 12,000.00 50,000.00 50,000.00 200,975.75 248,600.00 475,000.00 8,763.80 8,235.13 589,136.49 300,000.00 7,340.00 245,000.00 192,000.00 999,965.00 999,965.00 26.88 77.32 87.64 124.50 190.00 204.49 270.00 309.72 349.97 350.55 397.29 600.00 784.44 1,500.00 2,758.05 3,022.00 50,955.41 2,000,000.00 9,980.00 14,730.00 299,990.00 175,000.00 100,000.00 999,965.00 999,965.00

RATE 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.00 314.00 314.00 314.00 320.50 320.50 320.50 355.00 355.63 359.00 359.00 359.00 359.00 359.00 359.50 360.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 310.00 314.00 337.00 358.00 358.00 359.00 359.00 359.00 359.50 360.00

DATE 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 12-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 13-Oct-17 12-Oct-17 12-Oct-17

Africa’s global bank

T H I S D AY TUESDAY OCTOBER 17, 2017

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T H I S D AY TUESDAY OCTOBER 17, 2017

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T H I S D AY TUESDAY OCTOBER 17, 2017

TUESDAY, OCTOBER 17, 2017Ëž T H I S D AY

NEWS

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

Adewole: Three Cases of Monkey Pox Confirmed in Bayelsa, Lagos Free of Virus Says 43 other suspected cases in eight states Patient commits suicide in Yenagoa Senator Iroegbu Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹ Ă‹Ă˜ĂŽ Emmanuel Addeh Ă“Ă˜ Ă?Ă˜Ă‹Ă‘Ă™Ă‹ Against palpable fear over the spread of monkey pox disease in Nigeria, the Minister of Health, Prof. Isaac Adewole, has declared Lagos State free from the virus while Bayelsa State has recorded about three confirmed cases after laboratory tests. Adewole disclosed this yesterday in Abuja while briefing journalists on the latest development on the dreaded virus. According to him, only three out of the 17 suspected cases of the disease reported on October 13, 2017, from Yenagoa Local Government Area of Bayelsa State has been confirmed by the World Health Organisation (WHO) Regional Laboratory in Dakar, Senegal. He said samples from 12 other cases were negative while results of the remaining two cases are being expected. The minister stressed that the most likely source of infection is a primary zoonotic transmission from an animal with a secondary person-toperson transmission. Since governmentâ€™s initial announcement, he said, a total of 43 other suspected cases had been reported from eight other states (Akwa Ibom, Cross River, Ekiti, Lagos, Enugu, Nasarawa, Rivers, and FCT), adding that of these, four cases from Lagos State had also been tested and confirmed to be negative for

the monkey pox virus. â€œWe expect that many of these cases being reported from other states in Nigeria are not caused by the monkey pox virus, but we will continue to investigate all those cases that fit the case definition,â€? he said. Adewole further disclosed that further laboratory tests using whole genome sequencing are being carried out by the Africa Centre for Genomics and Infectious Diseases in Redeemers University Ede, Osun State, under the headship of Dr. Christian Happi. He, however, allayed the fear over the disease, saying: â€œMonkey pox is largely a selflimiting disease from which all suspected patients that have been reported to date are doing well clinically. Even before this confirmation, all the necessary public health measures have been put in place and will continue to be implemented. â€œSo far, it is not a deadly disease. We should not stigmatise it. The media should help educate the public that monkey pox is not deadly.â€? Though there is no cure for the disease yet, Adewole said: â€œThere is no cure, no vaccine but there is no disease that can task the ingenuity of humanity. â€œScience and humanity will overcome this. Vaccine will come over time.â€? The minister said measures that can be taken to prevent

infection with monkey pox virus include avoiding contact with squirrels, rats and similar animals, especially when these animals are sick or found dead in areas where the Monkey pox virus is circulating. He advised the public to always wash hands with soap and water after contact with animals or when caring for sick relatives. Symptoms of the disease, he said, beginÂ with fever, headache, muscle aches, and exhaustion, adding that monkey pox causes lymph nodes to swell (lymphadenopathy) and the incubation period (time from infection to symptoms) for Monkey pox is usually seven to 14 days but can range from five-21 days. Speaking on the efforts of his ministry, he said the Federal Ministry of Health through the Nigeria Centre for Disease Control has established an Emergency Operations

Centre and would continue to coordinate the response across states and test samples from other cases. While commending the Bayelsa State Government for its quick response by initiating an outbreak investigation and response supported by a team, he promised that the NCDC would continue to support all states in their response and will keep the public informed as the situation evolves. Meanwhile, patient who was being treated for the disease, at a quarantine centre at theÂ Niger Delta University Teaching Hospital (NDUTH), has taken his life.Â It was not clear if the unnamed man committed suicide because of the ailment, but the Bayelsa State Government told journalists yesterday that the deceased took his own life in the early hours ofSaturday. The Commissioner for Health, Prof. Ebitimitula Etebu,

at a joint press conference with his Information counterpart, Daniel Iworiso-Markson, disclosed that the deceased was among the 21 suspected cases of â€˜MonkeyPoxâ€™ that were being managed at the centre. He expressed regret that the patient took his own life despite speedily recovering from the disease and stated that his medical history did not suggest any mental illness or features of depression. The health commissioner maintained the patient did not die from the disease, adding that the police and his family had been duly informed and all due diligence was being followed for the eventual respectful and safe burial. â€œ This statement is being released to assure the general public that the patient did not die from the suspected monkey pox.Â However a committee has been put in place to evaluate his past and recent clinical and social history to determine if there

were undisclosed mental illness or personal family problem that could have justified the suicide,â€? Etebu said. He also explained that the result of the test sent to Senegal for analysis had arrived the state and hadÂ confirmed monkey pox as the epidemic that is in the state following laboratory evidence which now puts to rest the earlier suspicion of the disease. He added that so far, 10 patients had been discharged from the centre, while seven are still receiving treatment but largely in a stable condition. Etebu assured the public again that the government was doing everything to contain the outbreak and ensure all patients receive appropriate care and treatment. Iworiso-Markson on his part, urged residents to continue to use preventive measures and ensure they avoid bush meat and other purveyors of the disease until the fight against theÂ Â scourge was won.

Gana, Shekarau, Others Lead Adeniranâ€™s PDP Chairmanship Campaign Team Laleye Dipo Ă“Ă˜ Ă“Ă˜Ă˜Ă‹

Raymond Dokpesi were two other aspirants that had paid Former Information Minister, similar visits to Babangida. Professor Jerry Gana; former Professor Adeniran, Kano State Governor, during the visit, solicited for Mallam Ibrahim Shekarau, the support of the former and former Deputy Senate military president, assuring President and member of the him that he remained the Peoples Democratic Party most qualified of all other (PDP) Board of Trustee (BoT), aspirants. Alhaji Ibrahim Mantu, will In his remarks, Babangida be leading the chairmanship said politicians should remain campaign team for former focused in their activities and Education Minister, Professor â€œwork hard for the unity of Tunde Adeniran. the country.â€? Also on Adeniranâ€™s Reminding the political campaign team are Hajia class that some of them made Zainab Maina as well as the â€œnecessary sacrifices for Hajia Ina Ciroma and Alhaji the unity of the country,â€? Shehu Gabam. Babangida advised politicians Indication to this effect to do everything within their emerged in Minna yesterday might to sustain the unity when the top politicians and of Nigeria. former political office holders â€œWe fought a war to in the country accompanied make Nigeria united, Adeniran to the residence politicians should always of former military President gear themselves towards General Ibrahim Babangida. ensuring the unity of the Â The team was at the country,â€? he added. IBB residence to solicit On the forthcoming his Â support for the PDP national convention, realisation of the PDP Babangida assured Adeniran chairmanship dream ofÂ that â€œI will alwaysÂ be with Adeniran. like minds to guide the Former Ogun State partyâ€?Â before describing Governor, Otunba Gbenga the aspirant as a â€˜capable Daniel, and High Chief handâ€™

PARTNERSHIP FOR CREDIBLE ELECTIONS

President, ECOWAS Network of Electoral Commissions (ECONEC) and Chairman, Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu (right), with the United Nations Resident Representative (UNDP) to Cote dâ€™Ivoire, Mr Babacar Cisse, after talks in Abidjan on how the UNDP could assist Cote dâ€™Ivoire, as the country prepares for its Regional and Municipal polls scheduled for June.... yesterday

NLNG Demands N101bn Judgment Debt from NIMASA Eromosele Abiodun The management of Nigeria LNG has issued a demand notice for the sum of $315,598,823.29 (N101 billion) judgment debt to the Nigerian Maritime Administration and Safety Agency (NIMASA). The sum, the company said, represented the payments made under protest to the agency by NLNG since 2013 as well as direct and shipping losses incurred by NLNG due to the initial two-day blockade of the Bonny Channel by NIMASA in May 2013.Â In a statement issued yesterday, NLNG said the development followed the decision on October 3, 2017, by the Federal High Court

in Lagos that NLNG was not liable to make the said payments to NIMASA, and that all such payments already made by NLNG to NIMASA should be refunded forthwith. â€œThe court presided over by Justice M. B. Idris further held that NIMASA was wrong in blocking the Bonny Channel for the purpose of enforcing the payments against NLNG,â€? the statement said. Commenting on the development, the General Manager External Relations, Dr. Kudo Eresia-Eke, said: â€œThe Federal High Court ruling transcends being simply a legal victory for NLNG. It must be viewed for what it really is-a resounding message

from Nigeria to the global investment community. The message is that we can be trusted to keep our sovereign word and that Nigeria remains open for business, partnership and investments.â€? NIMASA had alleged that NLNG was liable to pay three percent gross freightÂ levy on its international inbound and outbound cargo, sea protection levy, two per cent cabotage surcharge as well as other sundry claims, all ofÂ which NLNG disputed. NLNG in 2013 filed the case at the Federal High Court against NIMASA, seeking a judicial determination on, among other things, the legality or otherwise of the levies

sought to be imposed on NLNG by NIMASA, and the consequent blockade of the Bonny Channel by NIMASA and its agent as a result of the dispute. NLNG had also sought a court order restraining NIMASA from further blocking the channel.Â Â An Interim injunction granted in favour of NLNG by the Federal High Court was disobeyed by NIMASA, which again blockaded the Bonny Channel over a three-week period while the matter was still pending, thereby preventing NLNG vessels and other vessels doing business with the Company from entry and exit through the channel.

TUESDAY, OCTOBER 17, 2017˾ T H I S D AY

NEWSXTRA

Senate C’tee Summons Baru, Shell over Revocation, Re-award of OML 13 Damilola Oyedele ÓØ ÌßÔË The Senate Committee on Ethics, Privileges and Public Petitions has summoned the Group Managing Director (GMD) of the Nigeria National Petroleum Corporation (NNPC), Mr. Maikanti Baru, and Shell Petroleum Development Company (SPDC) over the alleged revocation and re-award of Oil Mining Licence (OML) 13 without due process. The NNPC was accused of re-awarding the revoked licence by executive fiat to one of its subsidiaries, Nigerian Petroleum Development Company (NPDC), without the stipulated licensing round bids, thereby shrouding the transaction in secrecy. The management of SPDC was also summoned to explain its role in the revocation of OML 13 which the committee noted could become another

scandal like the one caused by Malabu OPL 245, if not properly resolved. The committee’s summons was borne of out a petition to the Senate by the National Coordinator, Global Peace and Sustainability Network, Mr. Longers Anyanwu. The Chairman of the Committee, Senator Sam Anyanwu, speaking at the commencement of hearing into the matter yesterday, said the Managing Director of SPDC has already been invited three times but refused to appear. He added that a warrant of arrest would be issued against the MD if he fails to honour the fresh summons. Anyanwu added that the Senate would ensure that all conduit through which the nation’s resources are siphoned are blocked. Speaking earlier while

testifying before the committee, the petitioner, Anyanwu, said OML 13 is an onshore oil block on the Eastern Niger Delta, with an acreage of 1,923Sq.m, a production capacity of about 33,500 barrels daily, comprising 39 oil wells. He added that it is made up of Oil Prospecting Licence (OPL ) 2001, 2002 abs 2003, formerly operated by SPDC but was revoked along with other blocks in 2005. “OML 13 was offered in the 2007 Licencing Rounds where Jahcon International Limited won OPL 2091, Hi Rev Exploration and Production won OPL 2002 while Oil and Industrial Services Limited won OPL 2003, with commitments

to pay signature bonuses of $ 46 million’ $66 million abs $34 million respectively.” “The said OML 13 was sometime between February and Mach 2016, revoked and awarded to Nigerian Petroleum Development Company, a subsidiary abs of the production arm of the Nigerian National Petroleum Corporation, NNPC through executive fiat and without going through the statutory Licencing Bids Rounds.” “Curiously, this OML 13 which was awarded to the NPDC through an executive fiat has been re-awarded to Sterling Oil Exploration and Energy Production Company (SEEPCO) without as much as

this offer going through an open tender abs the advertisement of a Licencing Bids Round by the relevant authorities.” “It is evident that this transaction is shrouded in mystery and under the table circumstances. Hence, it is the intention of this petition to compel the Senate to use its position to cause a full scale inquiry into this ambiguous transaction. “From our investigation, we are able to establish that NPDC and SEEPCO could not produce evidence of fair play either in the award of OML 13 or, in the unlikely circumstance in the award of a contract of Farm Out, Farm In by the NPDC to

SEEPCO as stipulated by the extant Nigerian laws regulating operations in the oil and gas industry and the Public Procurement Act which regulates the activities of agencies defined in the Act as procuring agents,” the petition read. Anyanwu called for outright cancellation and reversal of the entire process, which he said is shrouded in fraudulent and corrupt processes and never complied with the laid-down procedure contained in the extant laws, regulations and guidelines established for operations in the oil and gas industry.

Revenue Leakages: Erring Firms Have Refunded N30bn, Claims Senate C’ttee Damilola Oyedele ÓØ ÌßÔË

well done. He quoted the Executive Several firms indicted by the Director of the organisation, Senate Joint Committee on Mr. Tosin Adeyanju, as saying Customs, Excise and Tariff the refunds have vindicated the and Marine Transport for their committee. involvement in underhand “We never thought this dealings at the nation’s ports committee would perform like leading to revenue loss for the this. I personally felt it would government, have refunded be business as usual but the about N30 billion to the coffers Senator Hope Uzodimma-led of the federal government. assemblage has proved us The claim was made by the wrong. Now, they should be committee in a statement issued prepared for blackmail from yesterday by its consultant, Mr. some quarters. But they should Duro Meseko, who said the not be deterred. Nigerians are refunds included those from solidly behind them.” forex abuses to underpayments. “What we expect is for these The names of the erring firms companies to begin to set good, or details of the payments were honest standards and ensure however not made available in that they stop towing the the statement. path of infamy. The Nigerian Meseko added in the Customs should also seize the statement that the committee gauntlet by blocking all the has been commended by a loopholes already identified non government organisation, by the committee,” Adeyanju Conscience Nigeria, for a job added.

Serve Criminal Charges on Senator Misau, Court Tells FG Alex Enumah ÓØ ÌßÔË A High Court of the Federal Capital Territory (FCT) yesterday told the federal government to serve Senator Isah Misau the criminal charges it preferred against him. Chief Judge of the FCT High Court, Justice Ishaq Bello, gave the order shortly after listening to the submission of the prosecution counsel, Hadi Saleh, in his chambers. Misau, who represents Bauchi Central senatorial district in the National Assembly, was accused by the federal government of making injurious and false allegation against the Inspector General of Police, Ibrahim Idris. At the hearing yesterday inside the CJ’s chambers, prosecuting counsel however informed the court

that he wants to apply for a court summon on the defendant. Reacting, the court asked if the defendant had been served with the charges and if there are proofs the defendant was evading service, that would warrant the application for summons. While discouraging the culture of arresting people in order to compel them to appear in court, the CJ advised the prosecution to first do the needful and if it fails before seeking the court’s intervention. Justice Bello said before the court can take the application, the prosecution must show evidence that it tried to no avail to reach the defendant or that the defendant is deliberately evading service. Justice Bello later fixedOctober 19 for parties to come back.

FELABRATION

L-R: Lagos State Governor, Mr. Akinwunmi Ambode; children of the late Afrobeat legend, Femi Kuti; and Yeni Kuti, during the Special Lagos Jump to round off the 2017 Felabration at the New Afrika Shrine, Ikeja.... Sunday

How CBN, MOFI’s Inability to Pay N18.22bn Obligations Constrained BoA James Emejo ÓØ ÌßÔË The failure of the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporation (MOFI) to pay their equity contributions amounting to N18.22 billion to the Bank of Agriculture (BoA) has constituted a stumbling block to the latter’s discharge of its mandate of employment generation and poverty alleviation, THISDAY has learnt. It was learnt that while MOFI has outstanding equity contributions of N2.24 billion to the agriculture bank, the CBN is indebted to the tune of N15.97 billion. The funding constraint was said to have weakened the bank’s loan disbursement capability to farmers from N7.2 billion in 2010 to N3.2billion in 2011 and later increased to N3.7 billion and N5.6 billion in 2012 and 2013 respectively. This came as the Chairman of the House of Representatives

Committee on Agric Production and Services, Hon. Tahir Monguno (APC, Borno) told THISDAY it would soon sponsor a legislation which will seek to allow BoA to manage all agricultural intervention funds, rather than keep them in the ministry of finance or CBN. He said: “We are saying we want to diversify our economy away from agriculture and to diversify the economy is not only about input but there’s a need for us to give our farmers access to credit facilities at single digit interest rate; and not from the conventional banks that nowadays charge double digit interest rate. “So, for us to achieve that, there’s the need for us to recapitalise the Bank of Agriculture (BoA) and call on the Central Bank of Nigeria (CBN) and the Ministry of Finance Incorporated to pay up their equity share so that the bank would be in a position

to really achieve their mandate.” He expressed concern that two years after government unveiled plans to recapitalise the bank, there had been little progress towards achieving the objective. However, the BoA which is expected to be recapitalised soon is currently trying to rejig its personnel, and IT among others. Managing Director/Chief Executive, Bank of Agriculture, Mr. Kabir Mohammed Adamu had in a submission to the committee on the need to fully subscribe to the share capital of the bank for optimal contribution to the country’s ailing economy, a copy which was obtained by THISDAY lamented that despite presidential approval, MOFI had only injected N27.75 billion over 14 years while CBN had only contributed N4.02billion, bringing total equity contributions to N31.77 billion.

BoA is wholly owned by the federal government through the MOFI and CBN at the ratio of 60:40 respectively. After the merger in 2000, the president had approved the recapitalisation of the bank to the tune of N50 billion to be injected in four equal instalments of N12.5billion each, payable in four yearsfrom 2001 by the shareholders. Adamu said the bank’s operations had been challenging largely because of paucity of funds, high overhead with running costs with low level of income caused by lack of loanable funds, low recovery drive and general economic downturn among others. He put the bank’s current overhead and running costs at N2.52 billion against an income of N1.39 billion. The bank is further constrained by high nonperforming loans which are yet to be recovered.

TUESDAY, OCTOBER 17, 2017Ëž T H I S D AY

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Court Orders Interim Forfeiture of N1.96bn Linked to Ontario Oil Davidson Iriekpen Justice Hadiza Shagari of a Federal High Court in Lagos has ordered the interim forfeiture ofN1.96 billion

allegedly belonging to an oil company, Ontario Oil and Gas, over alleged fraudulent sale of refined petroleum. The judge issued the order, following an ex-

You Have Case to Answer, Court Tells Ex-NIMASA Boss, Akpobolokemi A Federal High Court sittingÂ in Lagos has dismissed the no-case submission filed by a former Director-General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Patrick Akpobolokemi and five others and ordered them to enter their defence immediately.Â Akpobolokemi was charged with N2.6 billion fraud by the Economic and Financial Crimes Commission (EFCC). Justice Ibrahim BubaÂ said the arguments on the no-case submission by the defence counsel, Joseph Nwobike (SAN), cannot hold water at this stage of trial because the prosecution counsel, Rotimi Oyedepo, had through the 12 prosecution witness, establish a prima-facie case against the defendantsÂ Justice Buba fixed October 30 and 31 for defence to open their case On December 4, 2015 the EFCC arraigned Akpobolokemi alongside five others, for allegedly diverting N2.6 billion from the coffers of NIMASA between December 2013 and May 2015. The anti-graft agency claimed that the funds were approved by ex-President Goodluck Jonathan for the implementation of a security project. Also charged with Akpobolokemi were Ezekiel Agaba, Ekene Nwakuche, Governor Juan, Blockz and Stonz Ltd. and Al-Kenzo Logistic Ltd.

The defendants had pleaded not guilty to the 22-count charge pressed against them. The prosecution had then opened its case and during trial, called 12 witnesses and tendered 77 exhibits in a bid to establish its case. Â The prosecutor, Rotimi Oyedepo, had argued that the testimonies of the 12 witnesses and the 77 exhibits tendered had successfully linked Akpobolokemi to the alleged fraud. He argued that being the head and chief accounting officer of NIMASA at the time of the alleged fraud, Akpobolokemi could not by any stretch of imagination claim to be innocent. He argued that even if it was the former president that approved the security project, Akpobolokemi was the head of NIMASA at the time, who constituted a committee to handle the project and also approved funds. In the 22-count charge, the EFCC alleged that the accused induced the federal government to approve and deliver to NIMASA N795 million under the false pretence that the sum represented the cost for the implementation of the Security Code in Nigeria. These alleged offences contravene Section 8 (a) of the Advance Fee Fraud and Other Fraud Related Offences Act, 2006.

parte application filed by the Economic and Financial Crimes Commission (EFCC) seeking forteiture of the funds. In its suit labelled FHC/L/ CS/1464/17, the commission joined as first and second respondents respectively, Ontario Oil and Gas Ltd, Â and Mrs. Ada UgoNgadi (Managing Director of Ontario). An affidavit of urgency elicited by an investigating officer of the EFCC, Mr Abdukarim Â Acheneje in support of the ex parte motion, chronicles as follows: â€œThat the EFCC received a petition from one Joan Ganadanu against the second respondent, complaining of fraud, diversion and conversion of proceeds of sale of refined petroleum products valued atN1.96 billion. â€œThat the petition alleged that the first respondent is

a customer to Union Bank plc, Â of stallion plaza branch, marina Lagos.Â â€œThat Union Bank granted a loan facility to the first respondent in the tune of 70 million dollars to import and/ or purchase locally refined petroleum products petroleum kerosene and diesel.Â â€œThat the loan was to be repaid from sale of the products and the second respondent guaranteed repayment of the said loan personally. â€œThat further investigations revealed that the respondent have lifted the product on the order financed by the bank for 10,000 metric tonnes of diesel, since July 2016. â€œThat the respondent have sold same, but have refused to lodge the proceeds in the companyâ€™s account, and pay back the facility to Union Bank.

â€œThat the respondent have refused to authorise Union Bank to repossess the unloaded order of petroleum from the Petroleum Products Marketing Company. â€œThat the respondent have breached the terms of transactions between them and union bank. â€œThat investigations reveals that the respondents instead, diverted the funds to the account of Renoir Logistics Ltd, and Â intelligence further reveals that Ontario oil and Gas has an outstanding 15,000 metric tonnes of diesel and 5,000 metric tonnes of petroleum. â€œThat intelligence report gathered shows that the respondent are at the verge of dispensing with the said properties, and that the order of the court is urgently needed to attach the property mentioned in paragraph nine.Â

â€œThat unless the application is urgently heard and determined, the respondent will tamper with the property sought to be attached,â€? Issuing the order, Â justice Shagari held. â€œUpon reading the affidavit in support of the ex parte originating summons, and after hearing Nkereuwem Anana, counsel for the applicant moved in terms of the application, It is hereby ordered as follows: â€œThat the property mentioned in paragraph nine of the affidavit viz, Renoir Logistics Ltd currently under investigation Â be interim attached/forfeited pending the determination of the investigation and possible prosecution of the case. â€œThat the said property attached/forfeited, ad-interim be managed and controlled by the EFCC.Â

TOGETHER FOR BAMA L_R:Â Governor of Borno State, Hon. Kashim Shettima; Chairman, Muhammadu Indimi Foundation (MIF), Alhaji Muhammadu Indimi;Â and Anti Grazing Bill: Benue Government COMING Shehu of Dikwa, Alhaji Muhammad Ibn Mustafa II Al-Amin El-Kanemi, during the flag off of the Muhammadu Indimi Village, Bama under the foundationâ€™s initiative for the resettlement of internally displaced persons (IDPs) in the state...yesterday Provides Land for Grazing George Okoh Ă“Ă˜ Ă‹Ă•Ă&#x;ĂœĂŽĂ“ Benue State Governor, Samuel Ortom, has promised that the state government will make land available to the Federal Ministry of Agriculture for the establishment of pilot ranches in the state. He spoke during a visit by socio-cultural groups from the three major ethnic groups in the state. Ortom stated that the provision of land was part of the stateâ€™s contribution in the collaborative efforts with the ministry. He reiterated his position that the anti-open grazing law was intended to ensure lasting peace for farmers and herdsmen who he urged to embrace dialogue and good neighborliness. The governor stated that the economy of the state revolves around agriculture, making it impossible for farming and open grazing to coexist.

He pointed out that the establishmentÂ of ranches has multiple benefits for all stakeholders including herdsmen who could access better education and health care if they embrace the practice. The governor said there was no going back on the implementation of the law as that was the only way to ensure lasting peace in the state. The spokesman for the forum of Mdzough UÂ Tiv, Idoma National Forum and Ominyâ€™Igede, Mr.Â Edward Ujege had alerted the governor on alleged plans by the leadership of herdsmen to visit mayhem and genocide on the people of the state. â€œThe plot is said to be multi-directional, and aimed to simultaneously invade and attack Benue from every angle so that there would be no escape for our defenseless people,â€? he stated.

Agip Spends $5.4bn on Local Content in Six Years Emmanuel Addeh inYenago

The Nigerian Agip Oil Company (NAOC) yesterday stated that it had expended over $ 5.4 billion in-country to grow Nigerian content in the last six years. Vice Chairman/ Managing Director of NAOC, Mr Massimo Insulla, who spoke during this yearâ€™s Nigerian Content Activities, hosted by Eni in Yenagoa with the theme : â€˜Succession Planningâ€™, said the money was spent mainly to ensure Nigerians have access to energy resources and related projects. Insulla , who hosted several businessmen from the Niger Delta and the Governor of Bayelsa State, Mr Seriake Dickson, noted that the commitment of the company to completing the Zabazaba Deep offshore project, IPP phase 2 , the construction of a brand new 150,000bpd refinery and support

for the refurbishment of the Port Harcourt refinery underscores itâ€™s seriousness in supporting local content in the country. He added that in the last 55 years,NAOC has provided support to Nigerians in terms of access to water, healthcare, education, social infrastructure employment, human capacity development through skills acquisition and food security through the Green River project. On this yearâ€™s theme â€˜Succession Planning,â€™ lnsulla noted that the two-day workshop would train about 180 contractors and vendors, proprietors of small businesses with skills and best practices on planning for continuity and sustainability of their businesses. â€œIt is designed to equip managers of small/medium businesses with skills in planning continuity and sustainability of their businesses when there is

exit by way of incapacitation or retirement or old age,â€? the NAOC Chief Executive said. In his comments, Dickson, who flagged off the two-day workshop, lauded the oil giant and vowed that his administration would never play politics with issues of development. â€œ This is the kind of change we want to see , not the other kind of change . The change of contributing to our state.Â This is the way to grow this economy. â€œWe wonâ€™t play politics with these things.Â Whether Agip or any oil producing company, we shouldnâ€™t extend politics there. All we are interested in as a government is to work and see how we can change the narrative of underdevelopment ,insecurity, and poverty in this state,â€? Dickson said. He added that his government

was doing a lot of work to provide power and the Industrial Park which will have 24-hour power supply. â€œThis state is for partnership and for doing good. We cannot use the instrumentality of government to create wealth. How many can government employ?. Very few, especially in this recession. â€œI donâ€™t care who owns the business, all I care is that the person is from Bayelsa State. We want to know how many Bayelsa people are supported by Zabazaba for example,â€? he said. In his presentation, Mr Simbi Wabote, the Executive Secretary, Nigerian Content Development and Monitoring Board, (NCDMB) urged participants to access funds through the Board at interests as low as five percent rather than go to banks that charge as high as 30 per cent.

TUESDAY, OCTOBER 17, 2017Ëž T H I S D AY

NEWSXTRA

Makarfi: PDP will Support to Obaze to Take over Anambra Obaze insists on serving one term David-Chyddy Eleke Ă“Ă˜ ĂĄĂ•Ă‹ The National Chairman of the Peoples Democratic Party (PDP), Senator Ahmed Makarfi, has said the party will give full support to its candidate, Mr Oseloka Obaze, to win the November 18 governorship election in Anambra State. Makarfi who was in Onitsha for the flag-off of the governorship campaign of the partyâ€™s candidate, said the PDP is united, and that with unity, the party would take back Anambra State and Nigeria for things to work in the country again. He commended members of the party for the unity that exists

in the state, saying it was high time they took their destiny in their hands by voting out the All Progressives Grand Alliance (APGA) government in the state. Makarfi said: â€œAnambra people, I urge you to take your destiny in your hand. â€œYou are enterprising people, you must change this government and vote in PDP. We will continue to unite men and women of PDP in the state and Nigeria. PDP is a Nigerian party and it is the only party under which Nigeria is one and has no tribal disunity.â€? The party chairman said the party is now one family and

would move from winning the Anambra State governorship election to winning back the country in 2019 and return the country to happiness and not one of lack and poverty as has been witnessed under the All Progressives Congress (APC). Meanwhile, Obaze has insisted that if elected, he would do only one term to complete the remaining four years of the Anambra North Zone, where he and the incumbent Governor of the state, Chief Willie Obiano, hail from. He said: â€œAnambra State is in utter disrepair. The state is broken. We must fix it. Our

party has been out of power in the state for over 12 years. This is therefore a moment of reckoning. â€œToday, we seek to return Anambra State to the stage of prosperity; in keeping with our party manifesto, we must return power to the people. â€œAnambra people are suffering. Despite the hype and propaganda, our people are no longer enjoying the true dividends of democracy. The government of Obiano has failed them in more ways than one. Anambra State deserves better. We must therefore change the leadership and political

narrative. â€œI have committed myself and my administration to a single four-year term in office - 2018-2022. It will be four years of intensive and productive hard work. Our focus will be primarily on human development capital anchored on education. â€œWe will thus commit 26 per cent of our budget to education, with 10 per cent going to parochial and privately owned schools. We will in that context offer free education from kindergarten to JS3. We will also tackle youth unemployment through

vocational training and certification. â€œThe state is not doing very well. Poor leadership, fiscal recklessness and lack of transparency and focus remain key challenges for the incumbent government. However, we know we have not done so well economically, not because the natural resources do not exist, not because the talents are not there, but because narrow political considerations have progressively and consistently trumped rational economic thinking and policy in governance. Such a defeatist mindset must change.â€?

IPOB Issues Threat If FG Fails to Produce Kanu in Court Today David-Chyddy Eleke Ă“Ă˜ ĂĄĂ•Ă‹ The Indigenous People of Biafra (IPOB) has warned the federal government not to provoke it into taking up arms by continually keeping its leader, Nnamdi Kanu. The group however said its angst would be felt if the Nigerian government failed to produce Kanu in court, dead or alive to continue his trial which commences today. Recall that Kanu had been granted bail in May under stringent condition, with the order to return to court to face his trial before Justice Binta Nyako. The group in a press release signed by its publicity secretary, Mr. Emma Powerful and made available to THISDAY in Awka, stated that it was gradually losing patience with the government for keeping its leader, who they alleged was abducted during the invasion of his home in Umuahia last month. IPOB also condemned the continued denial of the military that Kanu was not with it, citing a recent interview by the Nigerian Defence Minister, General Mansur Dan Ali (rtd) on Channels Television in which he confirmed that Nigerian Army went in search of Kanu in his home. The group said this was at variance with previous statements of the military, where they denied invading Kanuâ€™s home.Â It noted that since the invasion onÂ September 14, Kanu and his parents have not been located. â€œThe bare faced lies of AliÂ and that of the Muhammadu Buhari regime against our leader and organisation is beginning to unravel before the eyes of the world. By admitting publicly that soldiers were sent to Isiama Afaraukwu to look for our leader without any order or warrant from a court of law confirms the contempt in which Nigerian government holds the rule of law and their judicial process.

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˜ ͹Ϳ˜ ͺ͸͹Ϳ ˾ T H I S D AY

TUESDAYSPORTS

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

W O R L D C U P 2 0 1 8 D R AW

Pot Four Awaits Super Eagles as FIFA Ranks Nigeria 41st Femi Solaja As expected, Super Eagles will not have an easy draw when the FIFA 2018 Draw ceremony holds on December 1 at State Kremlin Palace in Moscow Russia. Eagles moved up three places to 41st spot in the October FIFA rankings released yesterday. Nigeria is fifth in Africa. Nigeria will be grouped alongside other ‘minnow’ representatives from Africa and Asia in the last pot at the draw ceremony based on their FIFA ranking released yesterday. The standings are the major determinant of the group all the participating teams will fall into. Unlike in the previous tournaments when teams were grouped according to their coefficient from last four appearances at the Mundial, this time around, ranking of participating teams is the lone parameter. This development means no nation from the Africa, Asia and CONCACAF regions can be top seeded. While elite nations like defending champion, Germany and Brazil are already guaranteed to be seeded top (Pot one) as they have qualified for the finals while Portugal, Argentina, Belgium, Poland and France complete the top pot seeding based on their respective rating in the first seven nations on the list. Host Russia, ranked 65th yesterday by FIFA will be moved forward to be among the top eight seeds at the World Cup draw while Nigeria now number 18 in ranking among the 23 already qualified teams could further drop in ranking when all the 32 teams emerge. The situation will definitely change when some of the expected nine qualifiers are added next month. Of the nine expected World Cup teams, four are expected from Europe as eight will be drawn into straight knockout fixture tomorrow. Among the eight European teams struggling for qualification, Nigeria is only ahead of Greece in the FIFA ranking released yesterday morning. But after the Europe play-off, Nigeria will be pushed three or four steps down the ranking ladder by the time the four new European qualifiers emerge. The other seven European aspirants that are ahead in ranking to Nigeria are Switzerland (11), Italy (15), Croatia (18), Denmark (19) Northern Ireland (23), Sweden (25) and Ireland (26). From the current 18th position among the 23 countries already qualified for the World Cup Nigeria will certainly go to 23rd or 24th spot

when four more qualifiers emerge from Europe. Further threat to Nigeria’s position will also come from Africa where either Tunisia (to be ranked 28th by FIFA) or Congo DR (to be FIFA ranked as 35th) will emerge from Group A of the African qualifying round of matches. Senegal that is set to pick the Group D ticket from Africa will also be ranked 32nd thus also further pushing Nigeria down in World Cup draw ranking. Qualification of either Morocco or Cote d’Ivoire will have no significant effect on Nigeria’s position in the overall standing of qualified teams. As it is, based on the 23 qualifiers so far, Nigeria will temporarily be in Pot 3, but Pot 4 is the ultimate destination after all the qualifiers have emerged. Like in the past, teams in the same pot will not meet in the group stage of the World Cup. Based on this new FIFA ranking formula, the Pot 2 will potentially have England, Colombia, Mexico, Uruguay, Iceland, Costa Rica and Egypt. Changes are expected in this pot as Switzerland, Italy, Denmark, Croatia, Northern Ireland, Sweden and Ireland are potential entrants who are currently involved in European play offs. They will know their opponents today when a play off draw will be made at the FIFA headquarters. Most likely to be in the Pot 4 when all the 32 teams must have emerged next month are: Nigeria, Iran, Serbia, Japan, Panama, and Saudi Arabia. Significantly, of the 23 teams already assured of a place in the 2018 World Cup, the host country, Russia is the least ranked. OCTOBER RANKINGS OF THE 23 TEAMS THAT HAVE QUALIFIED FOR RUSSIA 2018 SO FAR: 1st Germany 2nd Brazil 3rd Portugal 4th Argentina 5th Belgium 6th Poland 7th France 8th Spain 12th England 13th Colombia 16th Mexico 17th Uruguay 21st Iceland 22nd Costa Rica 30th Egypt 34th Iran 40th Serbia 41st Nigeria 44th Japan 49th Panama 60th S’Korea 63rd S’Arabia 65th Russia

Super Eagles players celebrating the World Cup ticket after the 1-0 defeat of Zambia early this month in Uyo

Wike Meets Ronaldo, Sergio Ramos in Madrid To seal agreement on Real Madrid Academy in Rivers today In continuation of the process for the setting up of a Real Madrid Academy in Rivers State, Governor Nyesom Ezenwo Wike yesterday toured training facilities of Real Madrid Football Club in Spain. The governor met with Real Madrid officials for further discussions on the modalities for the setting up of an academy affiliated to the La Liga team in Rivers State. Wike is billed to meet with the President of Real Madrid, Florentino Perez, today to formalise the agreement

between the Rivers State Government and the club on the establishment of the academy. The Rivers State governor also met with some of the galacticos of the club like Cristiano Ronaldo and Captain Sergio Ramos during the tour of Santiago Bernabeu. Vice President of Interact Sports, Mr Kazma and officials of Real Madrid led Wike and his entourage on a guided tour of the Real Madrid training facility. Wike said that the objective of setting up the Real Madrid Academy in Rivers State is to

develop stars that would rule the world in the nearest future “We are using football as one of the key empowerment programmes for the next generation. “We want to grow international football stars from a tender age. We will tap from the experience and exposure of Real Madrid and their stars. This is a project that will revolutionise football in Rivers State and Nigeria, the governor noted. He assured Rivers people that the academy to be established in

Edo, Akogate Redeem Cash Pledge to NWPL Super 4 Winners As women football stakeholders continue to celebrate the success of the Nigeria Women Professional League (NWPL) Super 4 which ended in Benin City, Edo State capital at the weekend, NWPL Chairman, Aisha Falode, has declared that all monies promised teams including those that took part in the exhibition game have been redeemed. Falode said apart from the N500,000 cash that was given to the four participating teams in the Super 4, namely former defending champions, Rivers Angels, Delta Queens who were runners up, Bayelsa Queens and new Champions of the Super 4

Nasarawa Amazons, prize monies for the top three teams have also been remitted. “You know the Edo State Governor, Mr Godwin Obaseki, through his deputy, Rt Hon. Philip Shaibu, gave all the four participating teams cash right at the stadium after the final and the two teams that played the Exhibition game, Edo Queens and Robo Queens, also got N250, 000 cash same day. “What more can we demand from a government that is willing and focused to take women football and indeed sports generally to the next level,” Falode gushed with excitement.

She added that the N3million prize money for champions, Nasarawa Amazons, the N2million runners up prize for Delta Queens and the N1million prize money for third place finishers, Bayelsa Queens, which was paid by Akogate Group of companies, which also supplied the waters for the tournament have already been remitted to the accounts of all clubs concerned. “Its in the spirit of probity and accountability”, she declared The NWPL Chairperson, said that with the support and enthusiasm shown by the Edo State government, her leadership will soon return for more events

Gov’s Cup 2nd Leg: Nigerian Players Fail First Round Tests All the Nigerian players who played their first matches of the main draws of the second leg (Futures 5) in the ongoing 17th Governor’s Cup Lagos Tennis Championship failed to live up to expectations as they could not survive the superior power of their better experienced foreign counterparts yesterday.

Hugo Largo of Spain defeated Nigeria’s Christopher Andrew Itodo in straight set of 6-1 6-1. Ivorian Joel Meda also defeated another Nigerian Emmanuel Idoko in 6-2 1-6 7-5 game. Chandril Sood of India got the best out of Michael Oluwatosin Osewa in straight set of 6-0,6-2 all in the men’s singles.

the state will be of international standard and will take into consideration the education of the children. Cristiano Ronaldo and Sergio Ramos lauded Wike for his commitment to the development of the game of football. Wike was accompanied on the facility tour by the state’s Commissioner for Sports, Mr Boma Iyaye, and former Nigerian international, Adokiye Amiesimaka. Iyaye said that the Real Madrid affiliated football academy will enhance the game of football in the state.

It was the same poor story in the women’s singles as the home girls suffered the same fate as their men. Angel MCleod who came from injury to play in the main draws courtesy of the wild card given to her was stopped by former champion, Tadeja Majeric from Slovakia in straight set of 6-0,6-1. Canada-

based Nigerian Nifemi Akinbiyi was stopped in 6-1,6-1 game by Mexican Ana Sofia Sanchez. Meanwhile, Egyptian KarimMohamed Maamoun who was sent packing in the first round of the first leg last week was so serious with his game this time around as he moved on to the second round of the second leg after a

resounding straight set 6-4,6-4 win over one of the Sabanov’s brothers, Matej. Turkish Ilkel Cem beat Johan Sebastien Tatlot of France 6-3,6-3. Indian Jayesh Pungliya defeated Tunisian Moez Echargui in 6-7,63,5-2 retired match. More first round matches will be decided today at the Lagos Lawn Tennis Club, Onikan.

in women football, because as she puts it : “We are like the proverbial Oliver Twist”. She also has kind words for Edo State Deputy Governor, Philip Shaibu, who attended all the games of the Super 4. “When last did you see a top official of government in the calibre of a deputy governor, coming for all the games in our Super 4? God bless Governor Obaseki and his Comrade deputy, Philip Shaibu, I am really head over heels with what they have done to lift women football. “The next World Cup will likely see Nigeria competing for the championship, thanks to Edo State and our brother Akogate Group of companies,” concludes Falode. CHAMPIONS LEAGUE (TODAY 8.45pm) Maribor v Liverpool S’ Moscow v Sevilla Feyenoord v Shakhtar Man City v Napoli Monaco v Besiktas RB Leipzig v Porto APOEL v Dortmund R’Madrid v Tottenham

T H I S D AY TUESDAY OCTOBER 17, 2017

Tuesday October 17, 2017

UT H

& RE A S O

Price: N250

MISSILE Aisha Buhari to Presidency “I am sure Dr Munir will not like me saying this but I have to say it out. As the Chief Medical Director, there are a lot of constructions going on in this hospital but there is no single syringe. Who will use the building? We have to be good in reasoning. You are building new structures and there is no equipment, no consumables in the hospital” – Wife of the president, Mrs Aisha Buhari, on the poor management of the State House Medical Centre (SHMC).

TUESDAY WITH REUBENABATI abati1990@gmail.com

Okorocha and Jacob Zuma’s Statue

hat is it about South African President Jacob Zuma and statues? Two statues in one month- generating controversy from the streets of Pretoria to the streets of Owerri in Nigeria. In the first week of October, a 30-feet monument was unveiled in honour of President Zuma in the North West region of his country. South Africans had opposed the idea of the statue since it was first proposed in February 2017. When it was eventually unveiled, and labeled a monument, the attendant outrage was bitter and loud because it was actually a glorification of Zuma, disguised as a tourist project to preserve the site where Zuma and 45 others were arrested by the apartheid police as they travelled out of the country for military training in 1963. The Premier, Supra Mahumapelo who commissioned the statue was accused of bad governance and insensitivity. The Zuma statue at Groot Marico has a borehole attached to it, whereas there is no potable water in the city in which it is located. Aggrieved South Africans recommended that the Statue should be pulled down, with the Economic Freedom Fighters (EFF) and the Democratic Alliance (DA) offering to take the lead. Jacob Zuma is not one of Africa’s most loved leaders despite his having won election twice and leading one of Africa’s most historic political parties; the African National Congress. His Presidency has been scandal-ridden, from allegations of abuse of office to a personal life characterized by much burlesque. The biggest threat to state reconstruction in Africa has been the ego and misconduct of African leaders. Compared to those he succeeded as South African President, it is hard at this point to imagine Jacob Zuma’s eventual place in South African history. This is the same man that Rochas Anayo Okorocha, the Governor of Imo State in Nigeria has chosen to honour. In the course of a just concluded twoday visit to Imo state, Nigeria, Zuma received the state’s highest honour, a traditional chieftaincy title- Ochiaga (Great Warrior), a street named Jacob Zuma Road, and wait for it- a life-sized statue! Governor Okorocha may not be able to convince anyone that he is not aware of the controversy over the Zuma statue in North West South Africa, and yet another piece of art that showed Zuma scantily-clad. The Premier of North West South Africa, actually wanted a life-size statue of Zuma in bronze, but public objection compelled him to rename the project a monument, but it remains a statue because the only man it celebrates is Zuma, whose obelisk is projected skywards over 6 metres. Okorocha probably decided to embark on his own project in Nigeria to tell the anti-Zuma South African crowd that if they do not appreciate Zuma, he would be celebrated abroad; after all a prophet has no honour in his own home. The monument in Groot Marico is reportedly a R1.8m bronze structure; the one in Owerri, Nigeria is a N520 million bronze statue, both standing at over 25 metres! President Zuma could not get exactly what he wanted in South Africa, a sculptural piece that was meant to show him in his full height and majesty. He now has it in Nigeria, even if the imbecilic artist did a bad job. Standing in front of that towering Owerri statue, Jacob Zuma must have indeed felt like a giant. In his mind, he must have like Ozymandias said to himself: “I am a god!

Okorocha Go and tell them on the streets of South Africa!” But his compatriots back in South Africa are not impressed, except may be the compromised South African Presidency which enthusiastically celebrated the deification of Jacob Zuma in a corner of Nigeria. Nigerians and the people of Imo State are unimpressed too. The Owerri statue has only achieved the effect of focusing attention afresh on the shortcomings of the two men at the centre of the drama: President Zuma and Governor Okorocha. “Instead of a statue”, wrote one South African, “Nigeria can keep the real thing”. Well, we don’t need your President. We have our own and nobody has erected a giant statue of his. Another South African wrote: “It’s only fair that Nigeria built a statue of Zuma. After all, under his leadership, we took in a million of their citizens”. Point of correction, sir: Governor Okorocha, not Nigeria, built the statue with public funds. You “took in a million Nigerians?” Or South Africans killed hundreds of Nigerians due to xenophobia? Your statement is actually part of the reason Nigerians are angry: why honour a man under whose watch South Africans are killing Nigerians in South Africa? If you must know, like your Premier of the North West, Governor Okorocha has been accused of wasting public funds on a statue of the South African President when Imo state teachers and pensioners are being owed salaries and arrears for months. To worsen matters, Governor Okorocha is setting up in Owerri, the equivalent of a political Jurassic park. Alongside Zuma’s statue are other statues, draped in national colours of Nigeria and other African countries. My personal worry is that when those other statues are unveiled, we may just discover that Governor Okorocha has included in this emerging park, statues of himself and his wife! African leaders who erect statues are ever so tempted to erect one or two of their own. Okorocha may even one of these days have a brain wave and erect a bronze statue of Zimbabwe’s Robert Mugabe on Nigerian soil. You have your Zuma. We have our Okorocha. He has tried to justify the present gaffe but his explanations sound hollow and false: “We in Imo State have chosen to identify with this great leader who meant well for his people…” We? Which we is Okorocha referring to, please? Did the state House of Assembly deliberate over the decision to establish a political Jurassic Park in Owerri? And who discussed and approved the honour’s list? We? Is Mr. Okorocha referring to his own

sycophantic State Executive Council or the local government staff called traditional rulers who gave Zuma the title of Ochiaga? Many Nigerians in fact believe that Nelson Mandela’s statue would have been preferable, especially as Governor Okorocha praised President Zuma as “a great leader who meant well for his people, who had to toil, struggle and fight for the liberation of his people, not minding the consequences thereafter. This to me is courage. This to me is strength of character…” Who are the brainless speech-writers penning these cliches? Nelson Mandela is the one whom these words best describe. President Zuma is the one the South African system is accusing of Constitutional violations, 783 corruption allegations and wanton abuse of the people. The Governor in the long run pretended that there was something positive out of the entire show. In a press statement, we are told: “President of South Africa, Mr. Jacob Zuma has said that a South African must not kill a Nigerian and a Nigerian must not kill a South African, adding that the relationship between Nigeria and South Africa should be stronger than any other part, for the sake of the continent of Africa.” Nobody should kill anybody, Nigerian or South African, in the first place. Murder is inexcusable. Xenophobia defeats the goals of African integration. President Zuma is very adept at telling people what they want to hear. What did he do while South Africans killed Nigerians under his watch? How many South Africans have been convicted for promoting xenophobia and taking the laws into their hands? What has President Zuma done in concrete terms to promote bilateral relations and people-to-people diplomacy between our two countries? Governor Okorocha may have been trying to be a good host but to import a bronze statue of President Zuma, which South Africans rejected, and then physically implant him on Nigerian soil is an insult and overkill! Mr. Okorocha is of course, a master of the overkill. He does everything, good and bad, with the same level of enthusiasm. When he followed President Muhammadu Buhari to the United States in 2015, and got a sideline chance to shake the hands of President Barrack Obama, it became what seemed like the biggest event of his life. Billboards of him and the two Presidents suddenly started popping up all over the state capital with the inscription – “Behold the new faces of change”. How? Please, how does a mere handshake with Obama translate into change in Nigeria? In a particular billboard showing Okorocha and President Obama, he is described as “a true Igbo leader”. The same Okorocha who cannot even say a kind word about his own brothers who are asking for equity and justice for all Igbos? He was also once accused of naming a government building after his own daughter, that daughter’s husband is reportedly a member of the Imo State cabinet. When the Governor turned 55 recently, 27 women representing the 27 local governments in Imo State serenaded him with 27 cakes as gifts. Okorocha obviously has enough cake to last him till he leaves office, but he should be careful because too much sugar is not good for anybody’s health. This same Okorocha -when journalists asked him to publicly account for the state’s revenue and expenditure since 2011 when he assumed office, he

threatened to deal ruthlessly with the journalists and chase them out of Imo State. President Zuma and Governor Okorocha obviously have a lot in common. They both love entertainment. They both think they are smart. They both don’t like criticism. They consider themselves very good politicians. They both like to be celebrated too. On this latter score in an official citation, Okorocha is described hyperbolically as a “Professor of Philanthropy!” But I must pause a little, here, to say this. I don’t have any personal axe to grind with either President Zuma or Governor Okorocha. I am in fact aware that Okorocha has been described by Nana Akufo-Addo, President of Ghana - “Grand Counsellor of Imo State” - as “a gift to humanity”. Of him President Olusegun Obasanjo, Chairman of the Rochas Foundation, has also said: “Rochas does not only love education, he has passion for the education of the underprivileged… I doff my hat for him for his great strides in education.” President Obasanjo made this statement at the 10th graduation ceremony of the Rochas Foundation Colleges. In 1998, Okorocha established the Rochas Foundation to provide free education to the children of the “poorest of the poor”. President Jacob Zuma has a similar Foundation known as The Zuma Foundation. This is what brought the two men together in the first place. President Zuma visited Nigeria to sign a Memorandum of Understanding between the Zuma Foundation and the Rochas Foundation. He spoke about the need to support the African Child. Between 2011 and now, the Rochas Foundation has established a total of five colleges – 2 in Imo state, one in Ibadan, one in Jos, and one in Kano. Tagged Project #55555, this free education programme, targeting orphans and the displaced, has reached about 15, 000 children from 55 African countries. The students’ population at the Rochas College in Kano alone is over 500. In the course of his visit to Nigeria, President Zuma interacted with Rochas Foundation students. Both men claim that they are determined to give to the African child, the same privileges and opportunities that they could not have, in the belief that it is better to use one’s achievements to raise the underprivileged. Zuma is a man of little education. Okorocha used to sell second-hand clothes while his mates attended school. He got to where he is by practically hustling through life. On the surface of it, both men can be said to mean well. But the tragedy of their recent meeting in Nigeria is that nobody believes the nice statements they both made. Africans no longer trust their leaders even when they openly profess good faith. They have learnt to suspect every move that they make. Across Nigeria, it is not surprising that the question is being asked: what is Okorocha’s next game? In South Africa, the same question is being asked of President Zuma. The people are no longer as stupid as African politicians assume. They are tired of being used as stepping-stones. I put myself in their shoes and I share their pain. Let Zuma and Okorocha stay away from funny billboards, the casting of bronze statues and castles of personal glorification. When in doubt, let them read Percy Shelley’s sonnet – Ozymandias. Statues will crumble, brought down by the opposition or ruined by the vagaries of weather and the ravages of time. But good deeds will endure and history will speak.

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