SEC Wields Big Stick, To Conduct Forensic on Oando Intels: House urges FG to revert to status quo, to probe contract termination Goddy Egene in Lagos and James Emejo in Abuja Following its probe into two petitions received from Alhaji
Dahiru Barau Mangal and Ansbury Inc., the Securities & Exchange Commission (SEC) yesterday directed the Nigerian Stock Exchange (NSE) to
place the shares of Oando Plc on full suspension for 48 hours, effective yesterday, and technical suspension from Friday, October 20.
The suspension, according to SEC, is to enable it conduct a forensic audit into the affairs of Oando, which has dual listings on the Nigerian
bourse and the Johannesburg Stock Exchange (JSE). Oando is an integrated energy firm with expansive operations in the downstream,
midstream and upstream segments of the Nigerian oil and gas sector. Continued on page 10
Buhari Approves Pension Payment to Retired Biafra Police Officers… Page 8 Thursday 19 October, 2017 Vol 22. No 8218. Price: N250
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States Spent N2.7bn On External Debt Service in Sept World Bank denies disagreeing with Adeosun on foreign borrowing Joseph Ushigiale in Lagos and Ndubuisi Francis in Abuja The World Bank Group has denied that it disagreed with the Minister of Finance, Mrs. Kemi Adeosun over the federal government’s external borrowing plan aimed at stimulating the economy and funding infrastructure projects in the country.
THE FIRST FAMILY FLIES TO TURKEY…
President Muhammadu Buhari (second right), relaxes with his wife, Aisha, and two children – Halima and Yusuf – on their flight to Ankara, Turkey yesterday. The president arrived the administrative capital of Turkey last night state house
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2019 Presidential Race: No Discussion on Automatic Ticket Yet, Say APC Govs Party receives report of True Federalism C’ttee Onyebuchi Ezigbo in Abuja The governors elected on the platform of the All Progressives Congress (APC) have said that they would abide by the party’s constitution in choosing a candidate for 2019 presidential election, adding
that no discussion has been held on an automatic ticket for President Muhammadu Buhari. This was the outcome of the meeting of the governors of the party and its national
executive, held at the APC national secretariat in Abuja yesterday. Although the party constitution is silent on the issue of an automatic ticket for the incumbent president,
the National Chairman of the party, Chief John OdigieOyegun and his predecessor Chief Bisi Akande have held divergent views on the matter. While Akande had said
last week in Ibadan at the end of a South-west caucus meeting of the party that the presidential ticket of the APC was open to all interested members desirous of throwing their hats into
Monkey Pox Spreads to 11 States with 74 Suspected Cases… Page 12
the ring, Oyegun disagreed, saying that Buhari has the right of first refusal. To qualify to contest for the presidential ticket of the ruling party, the APC constitution stipulates that any financially up-to-date Continued on page 8
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Buhari Approves Pension Payment to Retired Biafra Police Officers President Muhammadu Buhari yesterday approved the payment of pensions for retired police officers who were granted a presidential pardon in 2000 after serving in the defunct Biafran Police during the 30 months Nigeria Civil War. The police personnel who were granted presidential pardoned by former President Olusegun Obasanjo have till date not received their pensions.
However, a statement released by the Pension Transitional Arrangement Directorate (PTAD) said Buhari has approved the payment of pensions to the personnel, reported the News Agency of Nigeria (NAN). It said a total of 162 officers will be payrolled, while 57 next of kin who have also not been paid their death benefits will be paid in the first batch. It said the first batch of
payments will commence in Enugu on Friday. According to the statement, “The general public would recall that Nigeria witnessed an ugly civil war between July, 1967 and January, 1970 and as a result of that unfortunate period in our history, some members of the Armed Forces, the Nigeria Police and the paramilitary officers who took part with the secessionists were dismissed from the service.
on the other. “Despite the presidential pardon and verification of these officers, many of them remained unpaid years after the pardon. “However, the present administration under the leadership of the President, C-in-C of the Armed Forces, Muhammadu Buhari has graciously given approval for the payment of pension
entitlements to these officers and their next of kin. “PTAD is commencing the payment of pension benefits to the retired war affected police officers on Friday 20th October, 2017 in Enugu. “One hundred and sixty-two officers will be payrolled and 57 next of kin who have also not been paid their death benefits will be paid in the first batch,” it stated.
meeting threw its weight behind Mr. President’s position and we will like to clarify in addition to everything that has been said that the import of Mr. President’s statement to the World Bank was in recognition of the particular devastation that Boko Haram has caused in the North-east of Nigeria. “Therefore, when Mr. President was asking the World Bank to focus attention on the development of the North-east, he had in mind
the necessary reconstruction that needs to happen in that part of the country, especially in the Borno, Yobe and Adamawa axis that has suffered specifically because of Boko Haram activities. “It was not a statement meant to bifurcate the country or give special preference to any section of the country against the other. So the APC throws its weight completely behind Mr. President’s decision and we believe that
as long as the North-east of Nigeria continues to suffer the devastation that it has suffered, and continues to represent a very dark spot in human development indices for Nigeria, there is a need to direct special attention to that part of the country,” he said. On why most governors from the South-west were absent from the meeting, the Bauchi governor said: “There
structural change to the economy, thereby reducing the country’s exposure to crude oil. “Why are we borrowing? Mobilising revenue aggressively was not advisable, nor indeed possible, in a recessed economy. But as Nigeria now reverts to growth, our revenue strategy will be accelerated. “This is being complemented by a medium-term debt strategy that is focusing more on external borrowings to avoid crowding out the private sector. “This would also reduce the cost of debt servicing and shift the balance of our debt portfolio from short-term to longer-term instruments. This government will be very prudent around debt. We won’t borrow irresponsibly,” Adeosun had explained. The foreign borrowings, which are at lower interest rates, according to her, will also prevent job losses. “With Nigeria’s source of revenue dropping by nearly 85 per cent, the country had no option but to borrow. The option before the country was to either cut public services massively, which would have led to massive job losses, or borrow in the short-term until it begins to generate sufficient revenues,” she had added.
million, Akwa Ibom – N111.23 million, Katsina – N99.28 million, Osun – N95.28 million, Ogun – N72.8 million, Edo – N64.1 million and Kano – N54.33 million. Data from the Accountant General’s office also showed that the 10 states that paid the least on external debt service in September were: Taraba – NN17.2 million, Borno – N17.41 million, Plateau – N18.71 million, Benue – N20.8 million, Delta – N22.32 million, Kogi – N23.94 million, Jigawa – N25.73 million, Nasarawa – 26.96 million, Gombe – N30.54 million and Niger – N30.73 million.
recent successful issuance of the N100 billion Sukuk to finance 25 key roads, with the capacity to have a multiplier effect on the economy as an example of why borrowing tied to specific critical projects should not be seen as harmful to unborn generations, Adeduntan said the sourcing of the money locally and tying the proceeds to provide these critical infrastructure would spur growth in the economy. According to him, “You can see an example of how the federal government raised N100 billion through the Sukuk locally. The beauty of this is that the proceeds were tied to road intervention projects spread across the country. “The money is targeting the provision of critical infrastructure that is needed to provide growth in the economy.” The federal government recently released the proceeds from the N100 billion Sukuk to the Ministry of Power, Works and Housing to fund the key economic road projects. Each of the geopolitical zones of the country is expected to receive the sum of N16.67 billion for road projects from the funds raised through the Sukuk, in their respective zones. The North-central and Southsouth zones accounted for five each of the 25 road projects, while the North-east, North-west and Southeast have four road projects each. Three projects are to receive funding from the Sukuk proceeds in the South-west zone.
“The dismissal of those officers was commuted to retirement through a presidential amnesty granted on 29th May, 2000 by the administration of the then president, Olusegun Obasanjo. “A verification exercise was conducted for the pardoned officers by the defunct Police Pension Office and recently PTAD, on the one hand, and the Police Service Commission,
2019 PRESIDENTIAL RACE: NO DISCUSSION ON AUTOMATIC TICKET YET, SAY APC GOVS member of the party is free to contest for elective office. When asked whether the meeting deliberated on the decision of the South-west caucus to throw the contest open to party members from any part of the country, the governor of Bauchi State, Mohammed Abubakar, who spoke to newsmen after yesterday’s meeting, said the party would stick to its constitution. The Bauchi governor
said: “This meeting has not deliberated on the issue of an automatic ticket, but the APC has a constitution and that is one of the items that was discussed, on the amendment of the constitution of the APC to ensure that the constitution of the APC is in line with democratic principles, and we will abide by the provisions of our constitution.” Also, defending Buhari’s directive to the World Bank to concentrate on development
projects in Northern Nigeria, the National Publicity Secretary of the party, Mallam Bolaji Abdullahi said that the president was given an overwhelming endorsement on the issue. “You will recall that a few days ago, there was an issue in the media that President Buhari had asked the World Bank to focus attention on the Northern part of Nigeria. “The issue came up for discussion and the entire
Continued on page 10
STATES SPENT N2.7BN ON EXTERNAL DEBT SERVICE IN SEPT According to a statement issued by the media aide to the minister, Mr. Oluyinka Akintunde the World Bank in a mail to Adeosun by the Senior Communications Officer of the Bank, Mr. Rachid
Benmessaoud, “averred that the media misrepresented and quoted out of context the comments made by its Senior Economist for Nigeria, Gloria Joseph-Raji, at an event in Abuja”.
AMOUNT SPENT BY STATES ON EXTERNAL DEBT SERVICE IN SEPT 2017 STATES
AMOUNT
01 ABIA
31,326,205.88
02 ADAMAWA
35,765,643.60
03 AKWA IBOM
111,225,880.57
04 ANAMBRA
36,392,250.36
05 BAUCHI
55,909,234.76
06 BAYELSA
28,391,300.12
07 BENUE
20,792,622.92
08 BORNO
17,411,845.73
09 CROSS RIVER
231,962,506.35
10 DELTA
22,321,499.20
11 EBONYI
31,282,856.03
12 EDO
64,088,110.49
13 EKITI
45,608,594.70
14 ENUGU
45,799,061.67
15 GOMBE
30,538,887.79
16 IMO
46,358,595.57
17 JIGAWA
25,733,823.96
18 KADUNA
180,575,169.37
19 KANO
54,328,126.76
20 KATSINA
99,227,240.44
21 KEBBI
36,342,977.01
22 KOGI
23,941,292.93
23 KWARA
34,961,787.12
24 LAGOS
802,753,160.64
25 NASSARAWA
26,961,830.75
26 NIGER
30,734,086.28
27 OGUN
72,750,986.82
28 ONDO
50,606,534.74
29 OSUN
95,247,661.72
30 OYO
115,182,557.78
31 PLATEAU
18,708,659.81
32 RIVERS
48,720,437.13
33 SOKOTO
33,665,974.99
34 TARABA
17,164,063.46
35 YOBE
31,564,249.48
36 ZAMFARA
20,300,625.15
Benmessaoud was quoted as stating in the mail: “On October 11th, during the launch of Africa'’s Pulse, the World Bank’s biannual analysis of African economies, World Bank Senior Economist for Nigeria, Gloria Joseph-Raji, was asked by a reporter to share her views on the federal government’s plan to increase external borrowing. “At no point did she mention that the World Bank and the Federal Government of Nigeria (FGN) disagree on the need to rebalance the country’s debt portfolio. Where expenditure exceeds revenue, governments will need to borrow. “In doing so, the federal government is trying to rebalance its portfolio towards more external borrowing with lower interest rates and longer maturities.” It added that the World Bank Senior Economist was quoted by Benmessaoud to have commended the Nigerian government’s effort to rebalance its portfolio in order to lower the cost of its borrowing, as outlined in its 2016-2019 mediumterm debt management strategy released last year. “The use of IDA concessional financing, among others, is supportive of the FGN’s effort in this regard, with the added focus on poverty alleviation and building shared prosperity in Nigeria. “The latest issue of Africa’s Pulse points out that growth in Nigeria is projected to pick up from 1.0 per cent in 2017 to 2.5 per cent in 2018 and 2.8 per cent in 2019. While government debt in 2017 is projected to rise, it remains low in Nigeria,” Joseph-Raji was further quoted to have stated. According to Akintunde, the World Bank spokesman expressed the Bank’s full commitment to help the Nigerian government restore macroeconomic resilience as well as strengthen the ongoing economic recovery and achieve sustainable inclusive growth. Adeosun had at the Annual Meetings of the International Monetary Fund and the World Bank Group held in Washington D.C., said that the federal government would be prudent in the management of its foreign borrowings. She noted that the government adopted an expansionary fiscal policy with an enlarged budget in order to deliver a fundamental
N2.7bn Debt Service But as the foreign borrowing strategy of the federal government rages, it came to light yesterday that the 36 states of the federation spent N2.67 billion to service external debt last month. The amount was contained in a report obtained by the News Agency of Nigeria (NAN) from the Office of the Accountant-General of the Federation. Figures from the Debt Management Office (DMO) also showed that as of June 30, the 36 state governments and the Federal Capital Territory had a debt stock of about $3.94 billion (N1.2 trillion). According to the DMO, the states and the FCT are currently servicing loans with multilateral agencies like the World Bank and Agence Française de Développement (AFD). The breakdown of the debt service by states showed that the top 10 external debt paying states were: Lagos - N802.8 million, Cross River – N232 million, Kaduna – N180.6 million, Oyo – N115.2
No Harm in Borrowing Meanwhile, the Managing Director and CEO of First Bank of Nigeria Limited, Dr. Adesola Adeduntan has endorsed the federal government’s decision to borrow $5.5 billion to refinance is domestic debts and fund the capital component of the 2017 budget, saying that “there is indeed no harm in seeking foreign loans because we currently have the leadership in place to ensure the loans are tied to regenerative projects”. Speaking at a media parley yesterday in Lagos, Adeduntan acknowledged that the case against foreign loans was logical in some cases but in the case of Nigeria, “there is no harm in the federal government seeking to borrow to fund the budget because we have the leadership that would ensure that these moneys are judiciously utilised in critical sectors of the economy”. The International Monetary Fund had cautioned developing countries including Nigeria that greater reliance on foreign borrowings may at some point expose their economies to vulnerability arising from debt service burden, foreign exchange risk, and a sudden jump in long-term interest rates if the funds are not put to good use. However, Adeduntan said: “On a personal note, I don’t see any harm in borrowing to fund critical projects that would spur development in an economy. “In our case, we have the leadership that would provide the comfort that these loans would be tied to projects that would turn around the economy.” Citing the federal government’s
TOP GAINERS NGN NGN GSK 1.10 23.15 CUSTODIAN 0.17 3.67 LEARNAFRICA 0.03 0.79 JAIZBANK 0.02 0.70 ETI 0.38 17.59 TOP LOSERS NGN NGN NAHCO 0.20 3.40 LAWUNION 0.04 0.77 CAVERTON 0.06 1.20 TRANSCORP 0.07 1.41 NASCON 0.65 13.20 HPE Nestle Nig Plc ₦ 1,200.00 Volume: 198.634 million shares Value: N2.936 billion Deals: 3,543 As at yesterday 18/10/17 See details on Page 41
% 4.9 4.8 3.9 2.9 2.2 % 5.5 4.9 4.7 4.7 4.6
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Art X Lagos: West Africa’s International Art Fair Returns Bigger and Bolder One of West Africa’s largest art fairs, Art X Lagos, is back for its second installment with bigger and bolder offerings. The three-day event running from November 3 to 5 will showcase contemporary African art from 15 countries and feature 14 galleries representing African artists on the continent and the diaspora. “This year we have more international galleries,” Tokini Peterside, founder and director of Art X Lagos, said. “We’ve added a gallery from the U.K., Cameroon, Senegal and Ivory Coast to the initial list of galleries from Nigeria, South Africa, Ghana and Mali. So there’s greater diversity across Africa and the diaspora.” Though the fair’s format remains unchanged, with the talk programmes, collaborative performances between artists and musicians and the Instagram
contest Art X Prize all making a comeback, several new additions were made. Guests will be treated to two art videos in the screening room as well as curated projects loosely based on the theme of the artist as citizen. The interactive projects curated by A Whitespace Creative Agency will feature four artists painting and drawing in real time, a danfo bus for attendees to put their coloring skills to use, and a photography session by Lubee Abubakar who will snap ad hoc portraits of randomly selected visitors. The talks and special projects curated by Missla Libsekal will explore materiality and the way artists respond to their environment using everyday scenarios or materials to artistically document stories. One such artist is Yaw Owusu from Ghana, whose metallic
sculptures have turned the defunct and ‘worthless’ one pesewa coin into something of value. Also among the curated items are Rahima Gambo’s photography project on the impact of colonialism and the Boko Haram insurgency on education in Northeastern Nigeria, and Ben Enwonwu’s 57-year-old wooden sculptures which have never been seen in Nigeria. What’s more, limited edition enthusiasts can snag one of 10 Absolut vodka bottles etched with red smiley faces courtesy of the inaugural Art X Absolut Commission. Olatunde Alara, the 25-year-old artist behind the design, will also display a large installation piece in keeping with the “Artist as Citizen” theme. His exhibition, “Smile,” aims to stimulate conversations about mental illness, a taboo subject in Nigeria.
years ago, and also explore Fela Kuti’s legacy through the lens of Lemi Ghariokwu, the artist behind the Afrobeat musician’s album covers. Peterside intuited the focus on Fela would be new and different because “we’re looking at Lemi’s role as the chronicler of Fela’s era. We’ll be showing material he’s never exposed to the public, sketches (and) illustrations that he drew (for Afrika Shrine’s weekly newsletters)”. The latest recipient of the MacArthur Genius Grant, Njideka Akunyili-Crosby will also give a talk about her work as an artist. Based on the success of the inaugural event, Peterside expects a larger crowd than the 5,000 she received last year. But when prodded to provide an estimate, she demurred. “I’m not going to share it,” she said amid laughter.
“I’m not going to jinx it.. But I have a number in my head, (…) a number that feels right based on everything I know we’re doing.” Asked what she hopes attendees will take away from the fair, Peterside paused briefly in thought. “I want people to feel enriched, and by enriched I mean in an intellectual way. I see Art X Lagos as an educational, enriching experience. There’s so much to learn within the context of visual art, there’s so much conversation that we haven’t had so far (and) I want Art X Lagos to be the channel for that this year.” ART X Lagos was created to widen Nigeria's connection to the contemporary art scene across Africa and the world. The threeday affair will run from Friday, Nov 3 through Sunday, Nov 5 at The Civic Centre in Victoria Island, Lagos.
for us to have time to be on the field in addition to running our states,” he said. The Bauchi governor also said the meeting received the
report of the Committee on True Federalism from the chairman of the committee, Governor Nasir el-Rufai of Kaduna State, stating that only the National
Working Committee (NWC) of the party can decide how to disseminate the outcome of the public hearing held by the committee.
decisions taken at the AGM could be reversed. Explaining their position on the AGM, the management of Oando had said the company had fully co-operated with the SEC, availed the commission of all documents requested, and provided clarification and appropriate rebuttals to the issues raised. But during its AGM in Uyo, Akwa Ibom State, the meeting was disrupted by protesting shareholders who cried out over the alleged mismanagement of the company. Irrespective of the protest, Oando was able to get its resolutions passed.
maritime sector. The contract was terminated by NPA last week over what it termed Intels’ refusal to comply with the Treasury Single Account (TSA) policy of the federal government, an allegation the company has disputed. Douye claimed that the federal government has since sealed off all the port terminals of the logistics firm as a result of the termination of the contract without due consultations with Intels before the decision to seal its terminals. Based on his motion, the House resolved to set up the ad hoc committee to probe the termination of the contract and urged the federal government to revert to status quo ante. The committee was given two weeks to report its findings. Also, the House passed a motion mandating its Committee on Agriculture, Production and Services to investigate the delay by the Federal Ministries of Agriculture and Finance to pay N1.81 billion as compensation to 450 poultry farmers who were affected by the avian influenza outbreak, also known as bird flu, in spite of the federal government’s approval to make the payment. The motion on the urgent need to pay outstanding compensation to poultry farmers affected by the bird flu was moved by Hon. Abdulrazak Namdas who said the farmers had still not been paid despite the fact that the leadership of the Poultry Farmers Association of Nigeria (PFAN) alongside the relevant officials of Ministry of Agriculture had met with Vice-President Yemi Osinbajo who approved the payments when he was acting president. He expressed concern that nothing had been done since the joint committee constituted by both ministries was said to have sourced the amount for the compensation of the already screened farmers. The House noted that the inability to pay the compensation could spell doom for the affected farmers alongside their employees who depend on the poultries
for their livelihoods. Early last year, poultry farmers lost 3,682,726 birds as a result of the outbreak of bird flu.
Another new addition to the line-up is the interactive project “A Conversation With,” which will connect university art students with visual artist Victor Ehikhamenor and photographer Uche OkpaIroha. “I wanted to have university art students who are on the brink of commencing their careers as artist for them to have an opportunity to converse with artist who are succeeding,” Peterside said of her decision to create the intimate roundtable talk. She added that it was important students heard from industry insiders about the struggles and triumphs of working in Nigeria as an artist. This year’s talks programme will look back on FESTAC ‘77, known as the Second World Black and African Festival of Arts and Culture that captured the imagination of Nigerians 40
2019 PRESIDENTIAL RACE: NO DISCUSSION ON AUTOMATIC TICKET YET, SAY APC GOVS was no communication gap. Two deputy governors (from the South-west) sent word that their flights were cancelled because of weather problems.
“The same thing applied to the governor of Sokoto State who sent word that his flight was cancelled due to difficulty with the weather.
“So there’s no communication gap whatsoever. In the past, the governors have been attending. Governors are very busy people and it is always very difficult
S E C WIELD S B IG ST ICK, TO CON DUCT F OR EN SI C ON OAN D O It grew its portfolio in 2014 with the $1.5 billion acquisition of ConocoPhillips’ upstream assets when the U.S. firm left Nigeria. “To ensure the independence and transparency of the exercise, the forensic audit will be conducted by a consortium of experts made up of auditors, lawyers, stockbrokers and registrars,” SEC said in a statement issued yesterday. SEC wielded the big stick on Oando’s shares just as the House of Representatives waded into the raging imbroglio between the operator of the oil and gas logistics terminals in Onne, Rivers State and Warri, Delta State, Intels Nigeria Limited and the Nigerian Ports Authority (NPA) over the termination of the boats pilotage monitoring and supervision services handled by Intels on behalf of the ports authority. Intels and Ansbury Inc. are jointly owned by Mr. Gabriele Volpi, a multi-billionaire who holds dual Italian and Nigerian citizenship, with extensive interests in oil and gas, ports logistics and real estate spanning 40 years in Nigeria. The lower legislative chamber passed a resolution yesterday urging both parties – Intels and NPA – to immediately revert to status quo ante on the termination to prevent injury. It further approved the setting up of an ad hoc committee to investigate and determine whether due process was followed or not in the termination of the pilotage agreement and report back to the House in two weeks. SEC, in its statement on the suspension of trading on Oando shares, explained that it carried out a comprehensive review of the petitions from Mangal and Ansbury and found a breach of the provisions of the Investments & Securities Act (ISA) 2007; breach of the SEC Code of Corporate Governance for Public Companies; suspected insider dealing; suspected related party transactions not conducted at arm’s length; and discrepancies in the shareholding structure of Oando Plc, among others. SEC said these findings were weighty and needed further
investigation. The market regulator said: “The commission’s primary role as apex regulator of the Nigerian capital market is to regulate the market and protect the investing public. “The commission notes that the above findings are weighty and therefore need to be further investigated. After due consideration, the commission believes that it is necessary to conduct a forensic audit into the affairs of Oando Plc. “This is pursuant to the statutory duties of the commission as provided in Section 13(k), (n), (r) and (aa) of the ISA 2007. “To ensure the independence and transparency of the exercise, the forensic audit shall be conducted by a consortium of experts made up of auditors, lawyers, stockbrokers and registrars.” In order to further ensure that the interest of all shareholders of Oando is preserved during the course of the exercise, SEC said it directed the NSE to place the shares of Oando Plc on technical suspension. “However, in view of the fact that it is not technologically feasible for the exchange to effect a technical suspension except after 48 hours, the commission directed as follows: Effective for 48 hours from Wednesday, 18 October 2017 to Friday, 20 October 2017, the NSE should implement a full suspension in the trading of the shares of Oando Plc and effective from Friday, 20 October 2017 and until further directive, the exchange should implement a technical suspension in the shares of Oando Plc,” it stated. Owing to SEC’s directive, the shares of Oando will not be traded between yesterday and Friday, while from Friday when the technical suspension comes into effect, trading will be without movement in the share price. The shares of Oando closed at N5.99 on Tuesday. The stock had hit a year high of N9.57 before the negative reactions by investors to the petitions led to a drop in the share price to the current level. In its unaudited H1 2017 report, due to the partial
recovery in global oil prices and improvements in oil production volumes, Oando’s revenue rose 129.7 per cent Y-o-Y to N266.9 billion. However, the company recorded a loss after tax of N171.9 million – albeit an improvement from a loss of N26.9 million in H1 2016. This moderation was largely attributed to the impact of the restructuring undertaken on outstanding liabilities in 2016. While the recent positive strategy by management aimed at recapitalising and de-leveraging the company may appear positive, concerns over corporate governance and the suspension will to a large extent pressure investor sentiment. Mangal and Ansbury had petitioned SEC early this year, claiming majority ownership in Oando. They had also warned that the company was being mismanaged by the management led by Mr. Wale Tinubu, Oando’s Group CEO. They had sought the removal of Tinubu and his deputy, Omamofe Boyo so as to save it from going under. One of the petitioners, Ansbury, had in its petition urged SEC to stop Oando from holding its Annual General Meeting (AGM), which still went ahead on September 11, 2017. Ansbury had alleged serious financial abuse and accused the management of Oando of gross abuse of corporate governance tenets in its running of the company. The petition titled, “Serious Concern to Corporate Governance Existence, Gross Abuse of Corporate Governance and Financial Management in Oando Plc – Request for Urgent Regulatory Intervention,” cited page eight of the company’s annual report of 2016, stating that “strong uncertainty regarding the going concern status of the group had already arisen in 2015 and strengthened in 2016 as clearly pointed out by the auditors in their report”. However, SEC allowed the AGM to hold, saying that after the conclusion of its investigations,
House Wades into Intels, NPA Spat Just as SEC was wielding the big stick on Oando in which Volpi claims to have majority shares, the House of Representatives yesterday waded into the raging controversy over NPA’s termination of the pilotage agency agreement it had with Intels, another firm founded by Volpi. The lower chamber passed a resolution urging Intels and NPA to immediately revert to status quo ante to avoid injury. It also approved the setting up of an ad hoc committee to investigate and determine whether due process was followed or not in the termination of the agreement and report back to the House in two weeks. Membership of the proposed committee is yet to be announced. The lawmakers’ resolution on the Intels-NPA imbroglio was consequent to a motion sponsored by Hon. Diri Douye (PDP, Bayelsa) on matters of urgent public importance on the need to ascertain the process of the termination of the contract between the ports authority and Intels. The House said it was mindful of the attendant implications of the cancellation of the contract on 7,000 Nigerians and their dependants, who are employees of Intels since the inception of its services to the NPA in the
Maritime Workers Plead for Intels Meanwhile, the Maritime Workers Union of Nigeria (MWUN) joined the fray yesterday when it appealed to the federal government to resolve its problem with Intels to save more workers from losing their jobs. The president of MWUN, Mr. Adewale Adeyanju made the appeal while speaking with reporters in Lagos on the lingering problem between Intels and the government. He said the problem could also hinder investors from coming into the country if not resolved soon. According to Adeyanju, the union as part of organised labour was concerned about the job security and welfare of its members in Intels, reported the News Agency of Nigeria (NAN). “Today, we are aware that Intels has over 5,000 direct employees and over 6,000 indirect employees, which makes it up to 11,000 workers. “Most of these employees are Nigerians with families and responsibilities. We are worried that if this issue is not resolved amicably, their jobs can be on the line,” he said. Adeyanju warned that the socio-economic implication of most of the workers losing their jobs in a volatile area like Rivers State would have a negative impact. He said the union was also worried over the negative message the contract termination would send to investors locally and globally. “We want to advise the government to avoid anything that will send the wrong signals to investors that Nigeria’s environment is not safe and conducive for business,” the union leader said. He appealed to the government through the NPA to resolve the issues soonest to ensure that calm is restored at the ports.
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NEWS
Ă?ĂĄĂ? ĂŽĂ“ĂžĂ™Ăœ Davidson Iriekpen Ă—Ă‹Ă“Ă– davidson.iriekpen@thisdaylive.com, 08111813081
Monkey Pox Spreads to 11 States with 74 Suspected Cases FG absolves military of administering vaccines with virus Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;Ă”Ă‹Ëœ Hammed Shittu Ă“Ă˜ Ă–Ă™ĂœĂ“Ă˜ Ă‹Ă˜ĂŽ Okon Bassey Ă“Ă˜ ĂŁĂ™ The federal government yesterday disclosed that cases of monkey pox virus which broke out in Bayelsa State a fortnight ago has spread to 11 states in the country with 74 suspected cases being examined. The Minister of Health, Professor Isaac Adewole, who disclosed this to journalists after the Federal Executive Council (FEC) meeting at the State House, Abuja without stating in concrete terms what the government is doing to treat or tame the disease, said laboratory test conducted in Lagos showed that four cases tested negative. He listed the 11 states ravaged by the disease as Akwa Ibom, Bayelsa, Cross River, Delta, Ekiti, Enugu, Imo, Lagos, Nasarawa
and Rivers. Adewale also said 12 of the suspected cases in Bayelsa State tested negative while three of them tested positive, adding that further tests are ongoing to identify the true nature of the disease.  “We received an update from the public health of the nation. We informed council about the latest development with respect to the monkey pox virus outbreak. So far, as of today, (yesterday), there are 74 suspected cases in 11 states of the country. We have confirmed three in Bayelsa State, and 12 of the Bayelsa suspected cases tested negative, four suspected cases from Lagos tested negative. We are still expecting the results of other ones,� he said. Adewole also dispelled the insinuation making the rounds that the military was carrying
out vaccination in some states of the federation and consequently spreading monkey pox in such areas. According to him, the military is not involved in any vaccination exercise, explaining that the federal government cannot carry out any vaccination exercise without collaborating with state governments. He said the federal government was only carrying out vaccination campaigns in Kwara and Kogi States on Yellow Fever and Cholera diseases in Borno State. The minister also said the government was planning to conduct a vaccination exercise on measles. “We are also doing advance test in Ede, the African Centre of Excellence for Genomics
Tension in Kwara, Akwa Ibom over vaccines
and Infectious Disease, to really understand the genomics of this virus. Even when they are negative, the laboratory attendance should be able to tell us what exactly they are. We will also be able to locate and identify the origin so that we can take adequate precaution. “It is also important to use this opportunity to dispel the rumour circulating in the country that the military is vaccinating people and trying to spread monkey pox across the country. The military is not involved in any vaccination exercise and I must also really educate the Nigerian people about how vaccination campaigns are done. “Federal government will take the lead but we do not conduct campaign without working with states.
So, there is no way we will do campaign for states without working with the states and it is the states that will be in front and we will provide support. The rumour that federal government is doing vaccination campaign is not true. And as of today, we are only doing vaccination campaign in three states. “We are doing vaccination campaign against yellow Fever in Kwara and Kogi States because of the outbreak in some parts of the country. We are also doing cholera vaccination in Borno State and so, anybody carrying the rumour, please help us educate Nigerians that it is not true. “We are not vaccinating anybody. We plan to do measles campaign very soon and we will also do Yellow Fever campaign
before the end of the year and we will let you know. “You will never find federal staff conducting vaccination campaign without the support and active participation of the state Ministry of Health. This is just to correct the misconception,� he said. The minister further warned Nigerians to be cautious about the ongoing illegal harvests of some organs of the body, notably the kidney by traffickers as he advised them to seek proper advice and patronise accredited institutions when necessary. He emphasised that whereas the military is always involved in health campaigns as a number of soldiers are medical doctors, such campaigns do not include
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Kachikwu, Baru Meet Osinbajo on Zabazaba Oil Field, Other Industry Issues Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË Away from the raging controversy over contract award and appointments in alleged breach of due process, the Minister of State for Petroleum, Dr. Ibe Kachikwu and Group Managing Director of Nigeria National Petroleum Corporation (NNPC), Dr. Maikanti Baru, yesterday met Vice President Yemi Osinbajo in the State House, Abuja. But according to Kachikwu, while answering questions from journalists, the meeting did not dwell on the controversy over the allegations of contract awards and appointments of senior executive officers of the NNPC without observing due process. Instead, he said the meeting was meant to provide the vicepresident with information on activities in upstream petroleum sector especially on the cash call exit and update on Zabazaba oil field. According to him, the meeting explored the needs of stakeholders in the oil fields including opening of escrow accounts. “It was a meeting an upstream meeting, a normal typical
meeting. It was largely about Agip, bringing some information to the vice-president on where they have been in terms of in terms of Zabazaba field, in terms of the cash call exit which they are doing with NNPC, basically updating him, asking for areas where they need some assistance from government officials, to do a sort of fast track. It was a normal upstream meeting. “Yes we did discuss the cash call exit only to the extent of a few completion items on NNPC, largely the opening of the escrow accounts and that type of stuff which they need to fasten up on. “But we are far gone on that. lnstalmental payments are already going on. I think NNPC is undertaking by October or early next month to complete that whole process. So it is going on very well,� Kachikwu said. Asked if the pump price of petrol will come down before Christmas, he said Baru would be in a better position to answer that question. “I will like the GMD who does the commercial aspect to comment on that. I will need his position before I can even comment on that,� he added.
Buhari Arrives Turkey Omololu Ogunmade Ă“Ă˜ ĂŒĂ&#x;ÔË President Muhammadu Buhari has arrived Ankara, the Turkish capital ahead of the D-8 summit taking place in Istanbul tomorrow. The president, according to a tweet by the presidency in Nigeria on its twitter handle, @NGRPresident, said Buhari who left the country about noon yesterday arrived Esenboga International Airport, Ankara along with his wife, son and daughter. He was said to have
arrived at 8.20p.m local time. “Pres@MBuhari arrives Esenboga Int’l Airport, Ankara, Turkey. Received by Nigeria’s Ambassador to Turkey; Gov of Ankara and other official,� the tweet read. An earlier tweet before the take-off, containing the president’s photograph and those of his family members said: “President @MBuhari, and son and daughter aboard the presidential jet, enroute to Turkey, today.�
DEFENDING OUR PROGRAMMES
L-R: INEC National Commissioner, Prince Adedeji Soyebi; Chairman, Prof. Mahmood Yakubu; and another INEC National Commissioner, Dr. Adekunle Ogunmol, during an interactive session between the Senate Committee on INEC and the commission on Anambra and the 2019 elections in Abuja.... yesterday
Senate C’ttee Asks Stanbic, Zenith Banks to Unfreeze Patience Jonathan’s Accounts Faults procedure of freezing bank accounts Damilola Oyedele Ă“Ă˜ ĂŒĂ&#x;ÔË The Senate Committee on Ethics, Privileges and Public Petitions has ordered Stanbic IBTC Bank and Zenith Bank Plc to unfreeze the accounts domiciled in their banks linked to former First Lady, Mrs. Patience Jonathan do for internal administrative reasons and not by court orders. The committee also faulted the procedure for freezing the bank accounts through court orders served on the banks by the Economic and Financial Crimes Commission (EFCC), instead of through court balliffs. The lawmakers made the observation while hearing the petition filed on behalf of Mrs. Jonathan by her lawyer, Mr. Charles Ogboli, protesting the freezing of her accounts in seven banks without court orders.
The committee found that while the EFCC had served the banks with the initial court orders, it did not serve the banks with court order vacating the freeze, but rather served them with notice of appeal. Several members of the committee queried the powers of the EFCC to serve court orders on banks, when the anti-graft agency is not part of the judiciary. Senator Obinna Ogba (Ebonyi PDP) said simply verifying if the court order is authentic, is not the right procedure for the banks to adopt. Ogba accused the banks of taking advantage of such orders to do business with customer’s frozen funds. “EFCC cannot take someone to court, and then be the one to serve the bank. EFCC is not
judiciary; judiciary is separate. That is why there are people engaged as court balliffs,� he said. The Chairman of the Committee, Senator Sam Anyanwu, also faulted the process. “The court balliff should be the one serving the court order, and the bank should sign for it. It looks like they (banks) are taking advantage. The money is available to you and you are trading with it,� he said. Anyanwu also faulted the decision of Stanbic IBTC Bank to freeze an account linked to Finley Top Homes, one of the firms affected by the court order, while the account itself was not listed to be frozen. The account belonging to AM-PM Global Network Ltd has the same signatory as Finley
Top Homes, one Ada Amah. Officials of the bank said the account was frozen because it had not fully complied with the “Know Your Customerâ€? requirements of the Central Bank of Nigeria. Earlier, the Acting Managing Director of Eco bank, Mr. Akin Dada said the personal account of Mrs. Jonathan was not frozen by the bank and was operated just last week. He however noted that a court order served on the bank by the EFCC caused a freeze on two accounts, one of which has the former first lady listed as trustee: Ariwabai Aruera Reach Out Foundation, and the second; Finley Top Homes, specifically listed in the order. He added that the bank is not aware of any court order vacating the initial freeze order.Â
T H I S D AY THURSDAY OCTOBER 19 2017
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COMMENT
Editor, Editorial Page PETER ISHAKA Email peter.ishaka@thisdaylive.com
DIPLOMACY FOR DEMOCRACY ALONG AFRICA’S EQUATOR African diplomacy should be bold, creative and dynamic, argues Okello Oculi
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n January 23, 1971, Idi Amin Dada’s military coup ousted President Milton Obote and an on-going election process to legitimise a one-party dictatorship. An innovative ‘’1 + 3’’ campaign scheme had politicians seeking votes in four constituencies – one each from the country’s four regions. Candidates reciprocally introduced each other to voters in home constituencies. Candidates experienced living conditions of voters across the country and were expected to feel indebted to them for votes won. Jubilant crowds dancing on military tanks in welcoming end of those election campaigns would be battered to death as others fled Uganda in hundreds of thousands. Britain, the United States, Israel and apartheid South Africa instigated the coup to lure President Julius Nyerere of Tanzania into invading Uganda to reinstate Obote. China’s leaders warned that Idi Amin’s self-defence would roll into overthrowing Nyerere himself. Training bases by liberation movements hosted by Tanzania would also be destroyed. Nyerere heeded their advice, but supported Ugandan groups keen on ousting Amin’s regime for slaughtering over 300,000 Ugandans using ‘’Anya Nya (scorpion)’’fighters from Southern Sudan, and remnants from Pierre Mulele’s war against Mobutu in Zaire (now D.R. Congo). Tanzania favoured Yoweri Museveni, a former intelligence officer in Obote’s Office; a student of Political Science at the University of Dar-es-Salaam with research experience in FRELIMO’s base in Mozambique, and getting direct contact with liberation war for winning political power. Paul Kagame, the Chief of Military Intelligence in Museveni’s army, fought against Habyarimana in Rwanda aroused by oral stories by Tutsi elders lamenting being chiefs under Belgian colonialism. His parents had fled with baby Kagame into Uganda to escape the first Rwandan genocide of 1959. He grabbed Uganda’s military weapons and won power in Kigali; a believer in Museveni’s linkage of violence with political power; who angrily denies accusations of committing genocide against Hutu civilians. Joseph Kabila fought alongside Rwandan and Uganda’s troops to depose Mobutu Sese Seko and put his father, Laurent Kabila, in power. He soon sat on stains of his father’s blood following his assassination by his allies. A United Nations team accused Uganda and Rwanda of arming militias to loot Congo’s precious natural resources; while over three million villagers were slaughtered. Although he won two elections with clear majorities, Kabila shares with Museveni and Kagame the conviction that violence wins power and electoral conventions should not terminate the mission of a nation-engineering revolution. Uhuru Kenyatta in Kenya was born into a legacy of political power soaked with the blood of Gikuyu ‘’Mau Mau’’ fighters demanding land from European immigrants. When his father faced electoral defeat by Jaramogi Oginga Odinga over land for landless Gikuyu, he turned to Gikuyu oaths of war to ensure that power remained with those who shed blood against white immigrants. That ritual turned the 1966 general elections into a war against Oginga Odinga’s ethnic Luo. District officials rigged the election; and protests were met with police gun violence to defend power against whims of democratic votes. Uhuru Kenyatta was accused of aiding violence in 2008 post-election massacres following unclear victory by Mwai Kibaki, a second Kikuyu president. On September 27, 2017, 25 members of parliament fought physically with proponents of constitutional amendments to enable 73 years-old
IF KAGAME, KABILA, MUSEVENI AND NKURUNZIZA HAVE HISTORICALLY HONOURABLE VISIONS AS THEIR GUIDE, THEY SHOULD BE LISTENED TO WITH OPEN MINDS
Museveni contest the 2021 elections despite being above 75 years age barrier. A British newspaper ‘’The Daily Telegraph’’ reported that Don Nabasa, Special Forces Commander, ‘was in parliament just before dozens of members of parliament were forcibly removed’’. In Kenya over 37 opposition demonstrators – including a baby whose head was allegedly bashed with a club by a policeman - were reported killed by police guns during protests against President Uhuru Kenyatta’s declared victory in the August 8, 2017 elections; while in D.R. Congo Joseph Kabila’s security forces have on several occasions killed over 50 protestors on streets of Kinshasa demanding that he step down. In Rwanda, potential opponents of Paul Kagame have been assassinated in exile, drawing angry protests from South Africa. The use of Hutu ethnic identity for election campaigns is prohibited by law. Kenya’s Supreme Court nullified Uhuru Kenyatta’s victory in the August 8 election due to violations of constitutional stipulations by the electoral commission. He accepted their decision but hurled threats at the justices, accusing them of mounting a ‘’coup’’ against the will of 45 million voters who supported him. Parliament may enact laws with ‘’retroactive effect’’; including bringing the electoral commission under the executive before the re-run on October 26, 2017. The commission is blamed for revealing ballot-stuffing including in Narok North constituency where a total of 507 registered votes returned a total of 5, 527 votes for President Uhuru Kenyatta, an excess of 1000%. Also, in a lecture at Howard University on October 5, 2017, Professor Anyang Nyong’o claimed that 15 polling stations in Narok County ‘’revealed a consistent pattern of more than 100% voter turnout’’. As a commentator put it: ‘’Jomo’s son is running scared’’. Raila Odinga, the opposition leader, claimed victory in the first ballot. On October 10, his alliance announced that he had withdrawn his candidature because the electoral commission had failed to eliminate flaws and its personnel linked to fraudulent activities. His supporters were teargased by the police to keep them away from occupying the building hosting the electoral commission. In 2007/2008 similar protests left 1,100 people killed, as over 350,000 fled from their homes for security in camps. History might jump again. The above belt of violence over election laced as a belt around Africa’s equatorial waist call on African diplomacy to become vigorously preventive. The ‘’Peer Review Mechanism’’ of the African Union and the ‘’Mo Ibrahim Foundation’’ should join in building an information-capacity unit to prepare reports for AU’s monitors. They should also listen, without pre-judgment, to views of incumbents in Uganda, Burundi, Rwanda and D.R. Congo about decisions to elongate their tenures. There is validity to the view that African rulers and voters need not be bound by the ‘’two-term’’ tenure commandment brewed in America. Chancellor Angela Merkel has just rolled into a Fourth term in office. Britain’s Theresa May got power by a peculiar British convention on a national referendum over policy. Mao Zedung built China from 1949 to his death in 1976, raising her from wretched poverty - and racist contempt by Euro-Americans, towards global power. If Kagame, Kabila, Museveni and Nkurunziza have historically honourable visions as their guide, they should be listened to with open minds. Colonel Gadafi’s dictum that: ‘a revolution cannot be terminated by an electoral convention’, deserves a hearing. Nation-building has no size-fit-all formula. African diplomacy must be equally creative, bold, critical and dynamic. AfricaVision525 Initiative
NNPC AND STRANGE BEDFELLOWS
Nnamdi Ebo canvasses the splitting of the corporation into smaller independent companies
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trange Bedfellows is a 2004 Australian film starring two unlikely companions who engineer a plot to get financial benefits from the government. This unlikely companionship means a strange friendship or fellowship; often used in the phrase “politics makes strange bedfellows”. There are two strange bedfellows who dared to expose institutional corruption to different political masters from north and south and caused shockwaves in Nigeria. One was born a blueblood, Fulani nobleman, aristocrat; TIME magazine listed him in TIMES 100 list of Most Influential People of 2011; Islamic scholar, technocrat, career banker, became CBN Governor and the 14th Emir of Kano. The other was born a commoner, became a lawyer, Harvard alumnus, pioneered romance journalism, technocrat, General Counsel Texaco Nigeria, Vice-Chairman and General Counsel ExxonMobil Africa, President of OPEC, Group Managing Director of NNPC and Minister of State, Petroleum Resources. Both supermen have something in common — NNPC! Emir Muhammadu Sanusi II (CON) and Dr. Ibe Kachikwu are unlikely companions. In February 2013, in a letter leaked to Reuters and a local news website, Sanusi caused shockwaves in Nigeria. He alleged that $20 billion (£12 billion) in oil revenues had gone missing. Sanusi had written to President Jonathan claiming that NNPC had failed to remit tens of billions of oil revenues over an 18-month period, January 2012–July 2013 “in gross violation of the law”. NNPC denied failing to account for the money, saying Sanusi’s claim was “unsubstantiated”. Exactly how much money was missing was
unclear, as Sanusi acknowledged in a letter to the Seventh Senate – “$10.8 billion or $12 billion or $19 billion or $21 billion we do not know at this point. . . has been going on for a long time” and could “bring the entire economy to its knees” if it is not stopped. A Senate Committee said Sanusi’s account “lacked substance”. Jonathan publicly dismissed the claim and fired Sanusi for “financial recklessness and misconduct”. On Tuesday, October 3, 2017, in an August 30 memo to President Muhammadu Buhari, which was leaked and circulated on Twitter, titled: “Matters of Insubordination and Lack of Adherence To Due Process Perpetuated by GMD NNPC – Dr. Baru” ref: HMS/MPR/001/Vol.1/100, Kachikwu caused shockwaves in Nigeria when he said that for over one year, he had tolerated the disrespectful and humiliating conducts of the GMD of NNPC, Dr. Maikanti Baru. Kachikwu said he sent the memo after concerted efforts to have a one-on-one appointment with the president fell through. The NNPC had announced major appointments and redeployments on August 29 and NNPC Board, which by NNPC statute reviews appointments and postings, was never briefed about the appointments or redeployments. “Members of the board learnt of these appointments from. . .social media and the press release of NNPC. . .I was never given the opportunity before the announcements to discuss these appointments. This is so despite being Minister of State Petroleum, and Chairman NNPC Board,” Kachikwu lamented. First Lady, Aisha Buhari, in October 2016, declared that there is a powerful cabal running the Nigerian Presidency. She said her husband’s government
has been hijacked by a powerful cabal “behind presidential appointments.” Is it possible to be in office without being in power? Kachikwu alleged that Baru had sidelined the NNPC Board in awards of contracts. According to the minister, the legal requirement is that all contracts above $20 million be reviewed and approved by the NNPC board. It is a preposterous suggestion, against the principle of transparency, during Baru’s tenure as GMD of NNPC, not to run any contract through the NNPC board in over a year. Kachikwu listed major contracts awarded by Baru without NNPC board input to include: $10 billion crude term contracts; $5 billion direct sales direct purchase (DSDP) contracts, $3 billion AKK pipeline contract, $3 billion financing allocation funding contracts and $3-$4 billion NPDC production service contracts which cumulatively amounted to $25 billion. Consequently, he appealed to Buhari to approve the suspension of the NNPC ‘reorganisation’. The Ministry of Petroleum Resources said the memo was “a normal procedural correspondence by the Minister to the President. . .most distressing to the ministry of petroleum resources that a confidential communication to the President. . .can be made public,” spokesman for the ministry Idang Alibi stated. The sprawling NNPC is Nigeria’s oil buyer, seller, explorer, producer, processor, regulator and cash cow, all-in-one. According to a 2010 Stanford University study, NNPC is “at the nexus between the many interests in Nigeria that seek a stake in the country’s oil riches”. Sanusi and Kachikwu may have challenged pow-
erful opponents controlling NNPC. Did Kachikwu’s reforms/due process in the petroleum industry unsettle the cabal? Kachikwu strode into a closeddoor meeting with Buhari, statesmanlike; strode out one hour later, unstatesmanlike. In subdued tone Kachikwu uttered two words to journalists: “No Comment”. The “Odogwu of Onitsha-Ugbo” may require a quo warranto to fight the status quo. For this exposé, will Kachikwu be fired like his strange bedfellow? The anatomy of Kachikwu’s billiondollar-memo “leak” is a fascinating exposé because NNPC is a whistleblower’s paradise. Nigeria’s corruption-infested oil industry has always been prone to a natural monopoly because of rarity of crude oil deposits. The ‘Standard Oil Monopoly’ landed in America with colonial administration. The ‘Shell Darcy Monopoly’ landed in Nigeria with colonial administration — a coercive monopoly after it struck oil in Oloibiri in 1956. NNPC inherited this notorious monopoly-status. Buhari’s war against corruption should focus on the oil goose prior to the breakup of the NNPC behemoth. In 1911, America broke up Standard Oil monopoly into 34 smaller independent companies through antitrust legislation, restoring sanity to the US oil industry. The National Assembly should break up NNPC monopoly into smaller independent companies through antitrust legislation. The Minister of Petroleum Resources portfolio should be legislated to prevent embedding it in the presidency. An armistice on “War Against Corruption” will not stop strange bedfellows from their susceptibility to leaks. Indeed, politics makes strange bedfellows with NNPC. www.nnamdiebo.com
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EDITORIAL BEYOND ASO ROCK CLINICAL DEFICIT There is urgent need to overhaul the nation’s health facilities
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t their best, power elite all over the world are known for one thing: enlightened selfinterest. They usually appropriate the choicest resources to themselves: residential areas, health facilities at public expense, easy access to opportunities that are distant to lesser mortals, etc. It is therefore strange to see members of the political or business elite dwell adjacent to refuse heaps, fail to supply uninterrupted electricity to the seat of power or neglect facilities and supplies at a clinic that serves the president, vice-president, and their families. Unfortunately, the story of the State House Medical Centre (SHMC), Abuja is that of neglect, such that one of the president’s daughters had to raise questions on social media about where the money budgeted for the clinic was being expended. Wife of the president, Mrs Aisha Buhari went a step further last week by calling out both the State House WHILE IT IS IMPORTANT THAT WE DEAL WITH THE Permanent Secretary and the Chief IMMEDIATE ISSUE OF THE Medical Director of MISMANAGED SHMC, WE the hospital. “I am MUST ALSO HIGHLIGHT sure Dr. Hussain THE UNACCEPTABLE Munir will not like HEALTHCARE DELIVERY me saying this,â€? SYSTEM IN THE COUNTRY said Mrs. Buhari. “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? You are building new structures and there is no equipment, no consumables in the hospital?â€? However, the scandal of the clinic goes beyond the issue of paucity of resources. It is strictly a crisis of self-esteem. Any sensitive power elite would operate from the premise that Aso Rock Presidential Villa should showcase the best that Nigeria has to offer in terms of facilities, efďŹ ciency, service delivery and general tidiness. So, invari-
Letters to the Editor
ably, what we are advertising to the world is our incompetence. If Aso Rock clinic is in a deplorable condition and lacking in drugs and other essential supplies, what would be the fate of the health centres in remote Nigerian villages, not to talk of our overcrowded urban public health facilities? While the Permanent Secretary, Mr. Jalal Arabi, promised a quick intervention, he also hinted at the cause of the problem. According to Arabi, it “is the only health centre in Abuja where patients are not required to pay a dime before consultation. The centre offers free services, nobody pays a kobo for hospital card, consultations or prescriptions and this has taken a toll on the subvention the centre receives from the government. The drugs are always overwhelmed by the number of people who use the centre because it is not controlled.’’
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LETTER TO GOVERNOR AMOSUN
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read recently in a national newspaper how civil servants in the Ogun State Ministry of Information use the bush as convenience. Instantly I made inquiries through my colleague in the office whose younger sister is a top civil servant in Ogun State and was shocked to discover that it is actually in the entire secretariat that civil servants do “minor and major� in the bush! There is no water and electricity in the entire government premises. First I thank the newspapers for championing the cause of the poor and downtrodden in the society. Our country will be better if we speak up for the weak because injustice somewhere is injustice everywhere. The grim situation in Ogun State surprised me more because I thought the government is not owing workers’ salaries. I read beautiful things about happenings in my home state and I usually felt proud of the governor until the recent revelations. The so-called payment of wages is half-truth in that more than 50 per cent of salaries are deducted by government on behalf of the workers and are not remitted to the various cooperatives of workers to enable them to pay school fees of their children and meet other needs. The political office holders working with Governor Ibikunle Amosun fare no better. I was told how they run away from functions because they have no money and cannot meet basic needs of family members and hangers-on, whose number has
hile Arabi’s claim may be true, it is nonetheless an indictment on the State House that such an exclusive hospital can be accessed by just anybody. Besides, it is unfortunate that things would be allowed to degenerate before action could be taken. If one compares the cost of having a functional medical centre to the shame of presidents and ministers being routinely own abroad at public expense either to treat a migraine or ear ache, it deďŹ nitely pays the country more to put the facility in top shape. But while it is important that we deal with the immediate issue of the mismanaged SHMC, we must also highlight the unacceptable healthcare delivery system in the country. On an annual basis, top political ofďŹ ce holders (at public expense) and members of the business elite spend no fewer than $2 billion (about N300 billion) on foreign medical services. Yet many of our most vulnerable citizens die of preventable diseases due to lack of affordable medical services. We therefore urge all the relevant stakeholders in the health sector to work towards a complete overhaul of the system.
increased because of the new status of these government officials. I confirmed they receive about 45 per cent of their salaries making them the lowest paid in the country. All this came to me as a rude shock because I thought they were better paid than the previous governments in the state. The other time, we were in Abeokuta for a conference. I was shown the 10-story office complex being built by the governor beside the Ibara overhead bridge. I was also shown his Ibara GRA house under construction by one of the participants. I observed these are multi-billion naira projects. How come those working with the governor cannot build even common bungalows? They receive less than half salary while all legitimate allowances are cancelled. There is no cabinet member in the Amosun government that can pay school fees of one child in any elite school in Nigeria talk less of abroad. These facts can be verified. Unfortunately, most of them had resigned their appointments before they received the first salaries after working for three months with the governor. The letters of appointment given to them did not reveal any remuneration package. It is as the governor pleases! This is not hearsay. I made my findings as a lawyer and felt the need to bring these to the attention of the governor. A labourer deserves his wages. But, I also commend the governor for the passion to develop our state. Adekoya Thomas, Magodo, Lagos
AUDU OGBEH ANDYAM EXPORTS
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he last time I heard the Honourable Minister of Agriculture, Chief Audu Ogbeh say that our maiden yam voyage to the UK was found to be of “low quality�. First, I must applaud the minister’s brilliance in using semantics to reduce the severity of this issue. Else this gaffe of a policy would have been an instant hit on the social media. Conversely, the macabre dance of the spirits at the Nigerian National Petroleum Corporation towers may have served to deaden the rumbles of this ministerial faux pas. Alas some of the said yam shipments were found not only to be of low quality as purported by the minister but rotten outright. You will recall that a similar “low quality� verdict was pronounced on some items from Nigeria not quite long and an attendant ban slammed on them by the European Union. It is therefore saddening that barely a year this economic embargo was lifted, the news of rotten cargo of yam filtered in
and rented the airwaves yet again. Particularly worrisome is the government’s penchant in undertaking lines of actions that are bereft of clear-cut strategies. That Ghana became a net exporter of yam is not a mere happenstance. It was the effect of a thoroughly researched and studious national yam strategy nicknamed “bottom up� that took off in 2013. It’s scandalising that Nigeria will implement the export of yam; a perishable good without adequate measures to preserve them for the long haul. Studies have shown that yam ranks very lowly in the world staple food production, below items such as wheat, maize, rice, barley, potato and cassava. This implies that the use of yam by a narrow African population in the west alone may not constitute real demand in the global market. Nigeria has to do more to push back the frontiers of the demand of this product in the world commodity market. Tochukwu Onwuzuligbo, tocksmartins4eva@yahoo.com
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POLITICS
Group Politics Editor Tobi Soniyi Email tobi.soniyi@thisdaylive.com 08033146139 SMS ONLY
PERSONALITY INTERVIEW
Turaki:APCHasDestroyedOurEconomyandUnity “They have destroyed Nigeria’s economy, our togetherness and unity and the very fabric of our existence as a people and nation. More than ever, Nigerians are divided by many lines such that they are now beginning to question our workability as a country,” said a former Minister of Special Duties and InterGovernment Affairs, Kabiru Turaki (SAN), in an explosive interview with Chineme Okafor. Excerpts: Do you agree that the Peoples Democratic Party (PDP) lost the 2015 election through self-defeat? I don’t share the view that PDP lost because we caused it by ourselves. In any human endeavour at any time there could be flaws arising from our imperfections and frailties as human beings, but the truth of the matter is that for the first time in our political history, there was a well-planned and well-orchestrated propaganda that had never been seen in the history of Nigeria or anywhere in Africa. The APC then revolved their campaign around three issues – corruption, insecurity and economy. On the economy, they knew well that the PDP did extremely well, managing a wobbling economy to become the strongest economy in Africa, and then raising the confidence of local and international investors to begin to invest in the Nigerian economy such that it became the third most sought-after investors haven after China and Qatar, and so they abandoned it. Even on corruption and insecurity, they brought in a lot of propaganda and hyped the expectations of Nigerians. The APC in their campaign tried to give a picture that PDP was engaged in monumental corruption and so they were abusing everybody, and some Nigerians believed that indeed the PDP was corrupt. We are not saying that there could not have been situations where some government officials did not discover some weakness in the system and took advantage of the flaws, or that there were not some people that were engaged in some unwholesome practices, but we are saying that the PDP-led federal government then under President Goodluck Jonathan did the best it could, in fact, from President Obasanjo. Realising that there could be flaws in the system and that there could be some unscrupulous individuals that could take advantage of these flaws, we laid the foundation for the architecture for war against corruption. The PDP-led government established EFCC and ICPC. We strengthened them with men and women of character, as well as good funding. Our style was absolutely different from what the APC led government is doing now. We recognised that this is democracy and that there is this general assumption that in Africa, government of the day usually would want to muddle up operations and harass opposition, and so started the war against corruption from within. We investigated and arraigned people that held offices under PDP starting from the former governor of Edo State, Lucky Igbinedion, Senator Danjuma Goje, Abdullahi Adamu, and even ministers who were arraigned before courts. We started from within because we believe that charity must start from the home. What is happening today is that we have a party that believes the best is to decimate opposition and destroy the fabrics and foundations of democracy. If we go back to all the noise that were made about corruption – the biggest of it being that a lot of PDP officials were involved in the $2.1 billion arms deal which the whole of it were not true, can this government honestly open its mouth to say that PDP was involved in humongous corrupt practices with what is happening now? Just recently, the NBS said that in one year between 2016 and 2017, there was over N400 billion that exchanged hands in bribe and this affected only the police and judiciary and this is coming from well-respected institutions. There is no statement from government to challenge that. Look at what is happening in the NNPC as well. We believe that if the PDP can run this country in 16 years and they can only accuse us of getting involved in $2.1 billion corruption, then in one
Turaki...APC hoodwinked Nigerians
year, just from one single institution – the NNPC, there is an allegation of about $25 billion, and this is not coming from the PDP or members of the opposition but from a serving minister. Certainly Ibe Kachikwu is not a busy-body and would not talk if he has no facts and would not write a letter to his commander-in-chief. Who leaked the letter is immaterial now because the issue is that a serving minister got frustrated of the uncommon corruption in the agency that he leads and wrote to the president, and this is just two years of being in government. What about the campaign of insecurity? This is another issue they took against us and they involved the insecurity in the Niger Delta and Boko Haram. We solved completely the problem of restlessness in the Niger Delta starting from President Yar’Adua and Jonathan. The issue of Boko Haram was because it was something that were new to Nigerians and our security agencies because terrorism had never been with us. At a point in time, we were able to get support from friendly nations and began to understand the dynamics and were winning the war in spite of the allegations that were made. When the 2015 elections were postponed by six weeks, a lot of ground were covered and Boko Haram members were isolated. What is happening today is that not only has
They promised two million jobs every year but there is a lot of joblessness and hopelessness everywhere
the APC government been unable to contain the grounds that we recovered, but every day you hear acts of terrorism and Boko Haram killing our armed forces and Nigerians living within these areas who were informed that Boko Haram had been decimated only for them to go back home and got killed. Look at the killings in the IDP camps as well. What about kidnapping that has become so terrible today along the Abuja-Kaduna axis, Abuja-Minna axis, Bauchi-Birnin Kebbi axis, or even the south-east or Lagos, everywhere, as well as armed robbery and farmers and herdsmen which this government has deliberately kept quiet. We keep on saying that Nigerian entered ‘one-chance’ vehicle with the APC government, Nigerians were hoodwinked by the APC propaganda because they never thought they were going to win elections and were making promises they knew they would never keep. They have destroyed Nigeria’s economy, destroyed our togetherness and unity and the very fabric of our existence as a people and nation. More than ever, Nigerians are divided by many lines such that they are now beginning to question our workability as a country. We are a people who for long have identified our differences as our source of strength. APC still operate as if they are in opposition. They are in government and have the opportunity of first-hand information, yet they talk in pedestrian manners and from position of lack of information and knowledge whereas they have all the information. The APC-led government will not admit to making any mistakes in its economic policies, instead, it keeps blaming the PDP? What are the opportunities that APC brought into Nigeria? They promised two million jobs every year but there is a lot of joblessness and hopelessness everywhere. They promised prosperity but we have adversity. They promised to strengthen the economy but the economy is weak and thank God Nigerians are now beginning to make comparison and
I am confident that by the time we go to the polls in 2019, Nigerians will wake up and vote out the APC at all levels. When PDP came to power, it inherited a very shaky economy as a result of longstanding military regimes, and a lot of Nigerians had no confidence in the economy and so a lot of Nigerians were checking out the country – doctors, lawyers, scientists, pharmacists were going outside to look for greener pasture. This was the state of Nigeria when PDP came in and we had to make Nigerians believe in themselves. PDP revived a new phase of patriotism and nationalism. We started wealth creation and prosperity, agriculture became sources of earning, Nigerians in diaspora started coming home to invest in the country as well as other investors. We liberalised the economy and made sure there was security for investments and investors. We were able to transform Nigerian economy to become the biggest in Africa and one of the fastest in growth. Investors were coming in because of these safeguards. Within three months of APC taking over the country, investors left the country while companies sacked workers. From number one economy in Africa, we are now down on the ladder and from the third fastest growing economy, we are now nowhere around that. There are widespread corruptions even in the CBN where the Emir of Kano has said there are people who sleep and wake up with billions because of the allocation of forex given to them by the CBN. I pity the next coming PDP government because we have been taken 20 years back, and we have to start to rebuild confidence in Nigerians and foreign investors. The Supreme Court recently gave the PDP a lifeline, even at that you are not challenging the APC with issue-based criticism, what gives you the impression you will win the polls in 2019? I agree with you because most of us are yet to recover from the shock of the defeat we had in the 2015 election. We allowed opposition to grow when we were in government and supported them to grow. We did not harass any opposition leader and we never stopped anyone from speaking or said criticisms were hate speech. We never molested anybody for free expression of their thoughts. APC has being in government for two years now, but what have they got to show except monumental corruption – the grass cutting scandal of the suspended SGF is there. Nigerians are aware of the hypocrisy of the APC now. We are human, and President Jonathan wanted the election to be done in transparent manners and for the first time a sitting president conceded defeat. Instead of building on that and moving the nation forward, the APC is dividing Nigerians. They did not stop there and wanted to destroy PDP by inserting that crisis within us, but we are with God in PDP and decided that we would not fight dirty but would resolve the crisis in a manner that it will not only benefit PDP but democracy in the country. The issue of interpretation of the constitution of a political party with regards to the power of the national convention and so the decision of the Supreme Court has not only settled the rift in PDP but has set the standard that will settle any similar quarrel that will arise in any political party in Nigeria. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
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T H I S D AY ˾ THURSDAY, OCOTBER 19, 2017
POLITICS
Ogun PDP Has Not Endorsed Daniel for Party Chairman A former chairman of the Peoples Democratic Party in Ogun State and now member of the state’s caretaker committee, Chief Joju Fadairo has refuted claims that a former governor of the state, Chief Gbenga Daniel was endorsed by the state PDP for the party’s national chairmanship post. He spoke to Tobi Soniyi and Femi Ogbonnikan. Excerpts: What is the state of the Peoples Democratic Party in Ogun State? Well, PDP in Ogun State is doing very well now. We have a strong kind of grouse in the past but at the recent national convention, the two sides were dissolved. That is Sikirulai Ogundele - led exco and Bayo Dayo-led exco were dissolved at the national convention that was non-elective. So, after that, a caretaker committee was set up and the caretaker committee is doing very well, trying to bring people back into the party and then, trying to harmonise both parties and to ensure that the PDP get back to its feet. The national chairmanship of the PDP has been zoned to the south. The south-west is favoured to produce the chairman because it is the zone that has never produced the chairman of the party. My reaction is that it is a sort of good omen for the party, in the sense that, all the other geo-political zones have occupied this seat in the past. But it is only southwest that has never been the chairman of the party. South-south has been chairman for about two years in acting capacity and that was during Secondus. Now, it is left for us because the founding fathers of the party who understood the zoning system recently said it. Our former national chairman said, it is either they give the chairmanship to the south-west or there will be no more PDP, and that person was Amodu Sheriff Ali. You know, people because of their ambition, they can’t say the truth. And everybody knows, that it should go to the south-west. But I remember, there was a meeting recently which they held in Port Harcourt where Peter Odili mentioned that, it is for southwest and they all agreed at that time. But after that, they started saying south-south, and that I can’t understand. We watched the video of your visit to the Abeokuta home of ex-President Olusegun Obasanjo, where ex-Gov Gbenga Daniel was also in attendance at a meeting held there last Friday. The impression we had was that you have endorsed the national chairmanship bid of Daniel? That one, I would say the video or the picture you saw in the papers is a sort of deception. In Ogun State, that kind of politics, we call it ziggy. That is original ziggy. What exactly happened? That is what I am telling you now. I am a member of the PDP Caretaker Committee in Ogun state. The Caretaker Committee members were visiting people; the leaders of the party, trying to bring them back, trying to harmonise, trying to pay courtesy calls. And they know, I am close to uncle, I mean Obasanjo, and I call him uncle and they now said, I should make arrangements for a visit, so that they can see Obasanjo. And I went to Obasanjo on Thursday, October 12, 2017. We discussed and I said the caretaker committee members would want to see him and he said, “let them come now. I am a father of all, let them come”. I said, “which day”? He said, “tomorrow”. That was Friday, October 13. He said again, “tomorrow”. I said, what time sir? He said, “10:00am”. And I came back and I reported back to the committee members, that we would see Obasanjo by 10:00am on Friday. I think, I am not sure. some of the people in the caretaker committee who are OGD’s men, went and told him, that we would be visiting Obasanjo the following day. By the time we got to Obasanjo’s home, that was around 10:05am or so, OGD was there with his own entourage, amongst who were Kayode Amusan, Ayo Oyekunle, Sokunbi and all of them were there. We met them there and we exchanged pleasantries. We greeted one another. At one stage, one of the details of Baba Obasanjo called me. He took me out of
Fadairo....George is the most qualified for PDP Chairmanship post
the crowd and we went somewhere. He asked “are you people together”? I said, “no”. He said because OGD and his entourage came much earlier. I gave him a detailed mission. I told him, “we (the caretaker committee) are here to ask for Baba Obasanjo’s blessing.” And when Baba came in, the boy came to me again, that was the same detail, he said, “I told Baba, so that he can know how to attend to you. I told him that two different groups (Daniel’s group and the caretaker committee) have come to see him”. And when Baba sat down, he greeted everybody and so on and so forth. And the Ogun State chairman of the caretaker committee, in the person of Akinrogun Tunde Odanye, got up and explained to Baba the kind of things we have been doing and how we have been trying to bring the two feuding parties together. That PDP in Ogun State is doing well now. He told Baba the stage we were, so that we can do congresses and things like that. And finally, he said, we needed Baba’s blessing. And Baba talked and said that, some people spoilt PDP but he believed we must have a vibrant opposition. He said: “I am father of all and I don’t belong to any party, anymore, either PDP or APC. I am no more in any party. I am father of all”. He went further to say, that he wanted Jonathan to go and he left. “That was why Buhari is there and it doesn’t mean this government is doing well in what it should do”. He added that when the time comes for him to talk he would talk. And when and if there was nothing to say, he would not say anything. He blessed us and advised us to continue to do what we were doing. When we were done and it was time to give a vote of thanks, suddenly Daniel stood up. He was on his own mission but he stood up and gave a vote of thanks. And all of us prostrated and greeted Baba and then, we left. We, members of the caretaker committee, were about to take our leave and on getting outside, not knowing that the Daniel’s entourage had camera and so forth but they started taking pictures because I sensed something like that. I didn’t partake but it was when they now said caretaker committee members should take pictures. If you have watched the picture clearly, I was at the back except they had taken our pictures when we didn’t know. I was at the back. If they had come out, telling us that they wanted to take
our pictures only my face would have shown, and not my body. So, I was surprised when a lot of people started calling me, that I went to Baba in OGD’s entourage. And it was OGD who even made it seemed we went together but our committee members went there separately. It was not in the same mission. We were not in the same group. His own entourage apart and my own entourage apart. And there is no reason, absolutely no reason, for me to follow OGD to Baba on account of his own ambition because I am a die-hard Bode George boy. I have been with Bode George on this issue for a long time. And I would tell you this. That is the only reason I can’t follow any other candidate because in 2016, when they started this chairmanship of a thing last year, I have queued behind Bode George. In 2014, in London, I took my wife to Bode George in his house and I told him and I tried to appease him that our party was not in good shape. My visit to him was borne out of my concern for the party because the great party had a lot of problems. The ethos, everything, is in shambles. So, I told him, that because of his own integrity, because of what he has been doing, as a seasoned administrator, I am throwing my weight behind him. He has been in this party business for about ten years or more before we were ousted. He was the one who was representing southwest as chairman. And during that time, the AD was in vogue. Nobody accepted us. He came and we went throughout the southwest in company of Bode George and we won back five states in the southwest. People are talking of Lagos state, that he didn’t make it, and he didn’t make it because of some problems that can only be solved with money and we did not have money. They used money, they used foul plays and they used so many things and that was why we could not get Lagos State. Did you know what happened to Funso Williams? He was a good candidate and he died. And that was the man they wanted to vote for at that time. So, the fact that he hasn’t won Lagos does not mean anything. He is doing very well. He was the one who went to Ife/Modakeke on an assignment to mediate because the people of Ife and Modakeke normally killed themselves. He was the one who went there and settled that problem. After that, the Ooni of Ife now gave him the title of ‘Atona
Oodua’ which many, many years, they didn’t give it to anybody. Because of the importance of conflicts resolution he was able to broker in Ife/Modakeke, they now gave him that title. And it was this same man, when Chris Ngige was abducted, that rescued him. He has done so many things. Even when we had problems in the party, in the north-central, he was the one who resolved the issue. He was National Vice Chairman and consequently, he became the Deputy Vice Chairman, South and later also, he became Deputy Chairman of our party in the whole country. He has done so well. He was the one who was in Ondo State in those days, but the state that had split into two, and that was when there was crisis in Efon Alaye (now Ekiti state) during Omoboriowo/Ajasin imbroglio. And he was the one who settled and pacified those people whose properties were either vandalised or razed down during the political crisis in the old Ondo State. He has done very well and he is a man to beat. His integrity is there. He has reputation. Whenever you have problems and you go to Bode George, he is a good listener. And by the time you come out, you will leave with a smile. Bode George is a man who has been there for a long time and whose antecedent can’t be beaten by any of the contestants. He is a man that is going to bring our party to power again. All I am praying for Bode George is, the Lord should give him wisdom, understanding, knowledge and courage to fight all these battles that we have found ourselves in. This position of the national chairmanship is not meant for people that are not experienced, people that would be learning on the job. No! He knows what to do and he is the one we need to be our next national chairman. In essence, are you saying the Ogun State Caretaker Committee has not endorsed Otunba Gbenga Daniel? The Ogun State Caretaker Committee has not endorsed Daniel. And I am even thinking, probably he went there for his own ambition or he wanted to go and talk to Baba because the national party with the reconciliation committee of which Gov Ayodele Fayose of Ekiti State as the chairman, has been going round and making peace moves, in order to reconcile all the warring factions. Otunba Gbenga Daniel is a member and for some reasons, I don’t know if Gov Fayose has been leading the reconciliation committee or not. Though Fayose has not been attending the reconciliation meetings because he didn’t go to Ibadan with them. But he must have his own reasons. So, the caretaker committee members went separately to see Baba. So, myself and the other committee members were not in Daniel’s entourage. We even left Daniel there with his entourage. What transpired between him and Baba Obasanjo, after we left, we don’t even know. I don’t know why people would now be saying, I was part of his entourage, and I was not part of it and I can’t be part of it. What is the chance of PDP in Ogun State, come 2019 general elections? Our chances are very bright. Can you convince us? Well, you see, I can try to convince you but I would not do because I don’t want the opposition to know the technique or what we are going to do, to defeat them. But I have confidence and I am sure the people of Ogun State have tasted the thing. When you have a wife and you drive her away and you have another one, you would know which is better. They are now in peoples’ court. The people would judge but we are going to come back very strong soon, in this 2019. By the grace of God, in 2018, we are going to be back in Osun and Ekiti.
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THURSDAY, OCTOBER 19, 2017 ˾ T H I S D AY
FEATURES
Acting Features Editor Charles Ajunwa Email charles.ajunwa@thisdaylive.com
Customs, Still on the Rampage Despite the seeming efforts to sanitise the activities of the Nigerian Customs Service, auto dealers and commuters in the country complain that many officials of the agency have continued with the illicit extortion of dealers and car owners and the seizure of vehicles, writes Chinedu Eze in this investigative report
Comptroller General of Nigerian Customs, Colonel Hameed Ibrahim Ali (rtd), addressing customs officers
A
lleged extortion, forced seizure of vehicles on the highways on illicit grounds and harassment of motorists by officials of Nigeria Customs and Excise have exacerbated in the last two years, contrary to expectations. It is believed that the new management in Customs would rein in the excesses of the organisation known over the years, but some of the officials have allegedly adopted a nefarious means of making money by using arbitrar criteria to seize vehicles imported by auto dealers and also stopping motorists who drive new vehicles on the highway forcing them to part with money or seizing their vehicles. Travelers are the ones who are suffering the high handedness of Customs officials on the highways. Some of the motorists who spoke to THISDAY said to confirm the authenticity of their documents they took them to Customs office after they purchased their vehicles and the officials confirmed that the documents were okay, “but when you are traveling they will stop you on the way and tell you that your papers are not right. They will give you a bill there and then. Of course, the bill will not be anything less than N3 million. “Then they can ask you to settle when you plead and plead with them. My customer had parted with N500, 000. He was going to Ibadan from Lagos when they stopped him. He didn’t have money. It was his wife who does electronic banking that used her phone to transfer that money to the account given to them by the Customs people,” a
car dealer narrated to THISDAY The source said the most notorious areas are Benin, Ijebu Ode, Ibadan and Lokoja in addition to many other places in the Southern part of the country. “If you don’t part with money they will seize your car and it will take about a month before you will get it back. Any relatively new car from 2010 is not safe from them. Between Benin and Ijebu Ode there are about 10 Customs check points answering different names, as coming
Between Benin and Ijebu Ode there are about 10 Customs check points answering different names, as coming from different commands. They collect minimum of N500, 000. Most often they demand millions. Most people who own new cars don’t put them on the highway any more
from different commands. They collect minimum of N500, 000. Most often they demand millions. Most people who own new cars don’t put them on the highway any more. Those who are not flying travel with commercial vehicles because of the menace of Customs officials on the roads,” the source said. However, THISDAY learnt that this reprehensible activities are giving the Comptroller General of Nigerian Customs, Colonel Hameed Ibrahim Ali (rtd) sleepless nights and he had sent the word round that anyone who is able to bring evidence of the actions of these Customs officials would be doing the organisation a favour, as those involved in the extortion would not only be sacked but they would also be prosecuted. Automotive policy In accordance with new regulations, importation of a new attracts 35 per cent duties and 35 per cent levy. This was to encourage local manufacturing of vehicles against importation. But car dealers said that besides Innoson, there is no other company that is doing any kind of vehicle manufacturing in Nigeria now. The 35 per cent for duties and 35 per cent for levy means that if you buy a vehicle for $100, 000 you pay $70,000 for clearing it. After the dealer has paid this amount of money, calculated on the cost of the vehicle, a dealer is free to take his vehicle to his shop and sell. But despite the fact that there is evidence of the cost of every vehicle brand on the Internet, Customs officials are alleged to have their own vehicle
prices which are computer generated and which they call benchmark. Unfortunately for vehicle dealers and those who buy new cars, there is no defined criteria that guides Customs benchmark; it is computer generated at their whim and despite the fact that you can verify how much a car is bought from the suppliers and manufacturers on websites, Customs still stick to their computer generated prices, which are usually far higher than the actual prices the vehicles were purchased. This means that even if you buy a vehicle for $100, 000 and calculated your 35 per cent duty and 35 per cent levy on that cost, which is $70,000, some Customs officials will stop you on the way and tell you that the car you bought for $100, 000 is $170,000, according to computer generated prices, so the duty and levy you have paid are below what you ought to pay. These payments run into millions of Naira. Exploitation THISDAY learnt that these Customs officials will force you to negotiate and if you fail to pay the amount they asked you to pay, they will seize the vehicle and it would take you at least three weeks to get it back. This would also cost you about N4 million, which would include the extra money you ought to pay on their arbitrarily generated vehicle price and the cost of visiting relevant Customs offices and personnel that would give you approval to take back your vehicle after the new payment. Indifference As revenue generating agency, which is
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FEATURES Customs is all about money. No matter the document you give them as evidence that you followed due process to clear your vehicles, they just want more money. The more money we are talking about is not small money. It is about N2 million; otherwise they will take your car and it will take you about three weeks to get it back
Comptroller General of Nigerian Customs, Colonel Hameed Ibrahim Ali (rtd)
They do not have the data system where the payment is reflected; they do not have your payment number, which they can use to recall your payment. But other agencies have evidence of such payment beyond the issuance of a document,” a car dealer told THISDAY. He said that this explains why there are not too many cars on the Nigerian highways. According to him, many Nigerians who would otherwise travel with their cars now prefer to travel by air, charter vehicles or use commercial buses. “This has affected us so much. You can go and check this out yourself. Many wellknown car dealers who you know in the past, most of them have closed shops. Also, many of those artisans who work for us, from electricians, mechanics, painters, panel beaters and even shops that we patronise for spares, many are now out of business. In fact, over 15,000 people have lost their jobs because many car shops nationwide have closed their businesses and this will increase crime in the society because many of them are youths who do not have jobs now,” the source said. Imported vehicles waiting for clearance
aggressively striving to meet target set for it by government, there is strong suspicion that Customs management is indifferent to the arbitrary price benchmark, which its officials generate as cost of vehicles, but some of these officials are using it to make huge monies for themselves. A car dealer who spoke to THISDAY said that some of the brazen Customs officials would stop vehicles on the highway and extort huge monies from their owners; they would raid car shops and using their own computer generated prices as benchmark, charge the car dealer extra millions of naira as official cost of duty and levy or “the dealer will settle the people and this will cost less and they will boldly give you account number. Our enquiries reveal that almost all they account numbers they give are accounts of Bureau de Change. “Very serious car dealers have stopped their work. There are no service centres and no more importation by many of these businessmen because they cannot cope with the harsh environment. Example, Toyota Prado is about $30, 000 to $33, 000, including cost and freight and depending on the facilities in the vehicle, but Customs use $58,000 to calculate duties and levy,” a car dealer told THISDAY. Customs management But a Customs official who spoke to THISDAY on the condition of anonymity confirmed the obnoxious activities of some of the Customs officials, but said the management of Customs is desperately looking for them and anyone that is caught would not only be expelled but would also be persecuted.
“Customs management is aware of all these but they are waiting for the person they will catch. If those who pay the money to these officials can get the teller of the payments to the authority, it will be instant dismissal for those involved and possible persecution. The Comptroller General is a no-nonsense man. They are doing this with impunity.
Very serious car dealers have stopped their work. There are no service centres and no more importation by many of these businessmen because they cannot cope with the harsh environment. Example, Toyota Prado is about $30, 000 to $33, 000, including cost and freight and depending on the facilities in the vehicle, but Customs use $58,000 to calculate duties and levy
“Tell those people (vehicle owners arrested on the highway and car dealers) to get three or four bank accounts those Customs officials give and use them to write a petition to the Comptroller General and also send it to the Economic and Financial Crimes Commission (EFCC),” the Customs official advised. It is even believed by the car dealers who spoke to THISDAY that there is tacit support these Customs officials are getting from “high quarters” because there are different groups of these Customs officials “who come at different intervals and the management of Customs cannot say that they are not aware that these things have been going on. The ones who arrived recently from other parts of the country are laws unto themselves. “Customs is all about money. No matter the document you give them as evidence that you followed due process to clear your vehicles, they just want more money. The more money we are talking about is not small money. It is about N2 million; otherwise they will take your car and it will take you about three weeks to get it back. You will be forced to shuttle from one of their offices to another and this will cost you extra N2 million. Regular requirements “All over the world there are regular requirements needed for you to clear a vehicle and these include the chassis or vehicle identification number, but in Nigeria Customs will give you computer generated papers, which is called Customs C number. If you dare lose this paper it will be assumed that you did not pay anything to them.
Executive order Recently as part of the ease of doing business policy, the federal government ordered Customs to leave the highways but sooner was the directive given than the number of Customs officials multiplied on the highways, thus repudiating the directive. This, many say, is a direct affront to the federal government that issued that directive. Car dealers who spoke to THISDAY expressed shock in the way the Customs officials who literally raid the dealers’ shops and the highways defied the rules, as if “they know that no authority can do anything to them. The impunity is too much,” the car dealer quipped. The Customs official who spoke to THISDAY also lamented about this defiance, which “makes some of us feel that they are above the law, but I know and I am convinced that anyone caught by the Comptroller General will pay dearly for it.” The car dealers are of the view that many more of their members would close shop and thousands of people who are engaged in one way or another in the auto industry will also lose their jobs, “and you can agree with me that this won’t be good for this country now.” The car dealers have urged the federal government to ensure that Customs officials are removed from the highways. They urged also that government should remove the 35 per cent levy charged on imported new vehicles, saying that people should be guided properly because “this policy has given Customs officials an opportunity for extortion. Government needs to look at this in order to stem the thousands of people who are losing their jobs on a daily basis, especially as Nigeria is not yet ripe to manufacture vehicles in such commercial quantity to meet local demand.”
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IMAGES
L-R:, Director, Corporate Communications & CSR, Airtel Nigeria, Emeka Oparah; Head Mistress, Oremeji Primary School II, Ajegunle, Kudirat Kasali and, CSR Lead, Airtel Nigeria, Chioma Okolie during the presentation of Airtel Outstanding Contribution to Education Award to the head mistress at Airtel Teachers training held in its adopted school, Oremeji Primary School in commemoration of World Teachers Day in Lagos..recently
Group Head, Retail Liability Products, First City Monument Bank (FCMB), Mr. Shamsideen Fashola (right), receiving on behalf of the Bank the award of ëíMost Improved Retail Bank in Nigeriaíí from the Publisher/ CEO, BusinessDay Newspaper, Mr. Frank Aigbogun, during the BusinessDay Banking Awards ceremony in Lagos...recently
T H I S D AY ˾ ˜ ͯͷ˜ Ͱͮͯ͵
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L-R; Corporate Relations Director, Guinness Nigeria Plc , Viola Graham-Douglas; Customs Area Controller, Lagos Industrial, Nigeria Customs Service (NCS), Comptroller Morenike Oladunni; Deputy Comptroller, Admin, Maureen Ajuzieogu; and Regional Trade and Regulatory Affairs Manager, GN Plc, Mojisola Akpata, during the CAC Lagos Industrial Visit to Guinness Nigeria Plc Ogba Brewery in Lagos...recently
L-R; Glo Subscribers, Fred Mathaias with baby Olanna, his wife, Doris Matthaias, comedian, Salvador from Uganda, Glo subscribers, Chinenye Okpalaeke and her husband, Chinedu Okpalaeke, at the 27th edition of the mega comedy show, Glo Laffta Fest, held in Lagos...recently
L-R: Technical Adviser, Kwara United Football Club, (KWUFC) John Sam Obuh, President, KWUFC, Oladimeji Thompson, Kwara State Governor, Dr. Abdulfatah Ahmed and Kwara State Commissioner for Sports and Youth Devt. Kale Ayo during courtesy visit by the Managements of Kwara United Football Club to the Governor at Government House, Ilorin....recently
L-R: Managing Director, Claraís Foods & Bakery, Mrs. Mobolanle Oshin; Head, Commercial Banking (North Central), Stanbic IBTC Bank PLC, Mr. Christopher Okonkwo; Head, Business Development, Sales & Marketing (Africa), China Europe International Business School, Dr. Thelma Opara; and Head, Enterprise Banking, Stanbic IBTC Bank, Mr. Babatunde Akindele, at Stanbic IBTC Bank 2017 SME Capacity Building Series in Abuja...recently
L-R; Group Managing Director, Rosabel, Mr. Ayo Oluwatosin; President/CEO, Worldwide Partners, John Harris; Executive Director of EMEA, Worldwide Partners, Lisa Kettman-Kervinen, and Managing Director, Media Seal, His Royal Majesty, Ayo Kupoluyi, at the WPI global agency summit in Paris, France... recently
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Quick Takes Nigeria, India to Partner on Space Tech Ă™ Ă?Ă˘ĂšĂ–Ă™ĂœĂ? ĂĄĂ‹ĂŁĂ? Ă™Ă? Ă“Ă—ĂšĂœĂ™Ă Ă“Ă˜Ă‘ ÞÒĂ? Ă?ËÚËĂ?ÓÞã Ă™Ă? Ă?Ă™Ă&#x;Ă˜ĂžĂœĂŁËŞĂ? Ă?Ă“Ă?Ă˜ĂžĂ“Ă?ĂžĂ? Ă‹Ă˜ĂŽ ÚËĂ?Ă? Ă?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?ĂžĂ?Ëœ Ă˜ĂŽĂ“Ă‹ Ă’Ă‹Ă? Ă‹Ă‘ĂœĂ?Ă?ĂŽ ÞÙ ĂšĂ‹ĂœĂžĂ˜Ă?Ăœ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă™Ă˜ ÞÒĂ? ĂŽĂ?Ă Ă?ÖÙÚ×Ă?Ă˜Ăž Ă™Ă? Ă?ÚËĂ?Ă? ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁË›
Ă˜ĂŽĂ“Ă‹ Ă“Ă‘Ă’ Ù××ÓĂ?Ă?Ă“Ă™Ă˜Ă?Ăœ ÞÙ Ă“Ă‘Ă?ĂœĂ“Ă‹Ëœ ĂœË› Ă‹Ă‘Ă‹ĂŒĂ’Ă&#x;Ă?Ă’Ă‹Ă˜Ă‹ Ă?ĂŽĂŽĂŁ Ă—Ëœ ĂŽĂ“Ă?Ă?Ă–Ă™Ă?Ă?ĂŽ ÞÒÓĂ? ĂĄĂ’Ă?Ă˜ Ă’Ă? Ă Ă“Ă?Ă“ĂžĂ?ĂŽ ÞÒĂ? Ă“Ă˜Ă“Ă?ĂžĂ?Ăœ Ă™Ă? Ă?Ă“Ă?Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁËœ ĂœË› Ă‘ĂŒĂ™Ă˜Ă˜Ă‹ĂŁĂ‹ Ă˜Ă&#x; Ă“Ă˜ ĂŒĂ&#x;Ô˲ Ă? Ă?Ă‹Ă“ĂŽ ÞÒËÞ ÞÒĂ? ĂšĂ‹ĂœĂžĂ˜Ă?ĂœĂ?Ă’Ă“Ăš ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? ĂŒĂ?Ă˜Ă?ʨĂ?Ă“Ă‹Ă– ÞÙ ĂŒĂ™ĂžĂ’ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă‹Ă˜ĂŽ ÞÒËÞ Ă‹ Ă?Ă—Ă™ĂœĂ‹Ă˜ĂŽĂ&#x;Ă— Ă™Ă? Ă˜ĂŽĂ?ĂœĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ Ě™ Ă™ Ěš ĂĄĂ™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă?Ă“Ă‘Ă˜Ă?ĂŽ ÞÙ ÞÒËÞ Ă?ĘĽĂ?Ă?Þ˛ ËŤ Ă’Ă“Ă? Ă Ă“Ă?Ă“Ăž Ă“Ă? Ă™Ă? Ă—Ă&#x;ĂžĂ&#x;Ă‹Ă– ĂŒĂ?Ă˜Ă?ʨÞ Ă‹Ă? Ă˜ĂŽĂ“Ă‹ ĂĄĂ“Ă–Ă– Ă–Ă?Ă‹ĂœĂ˜ Ă?ĂœĂ™Ă— Ă“Ă‘Ă?ĂœĂ“Ă‹Ă˜ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă?ÚËĂ?Ă? ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁ Ă‹Ă˜ĂŽ ĂœĂ?×ÙÞĂ? Ă?Ă?Ă˜Ă?Ă“Ă˜Ă‘ ÞÙ Ă?Ă˜Ă‹ĂŒĂ–Ă? Ă—Ă‹ĂšĂšĂ“Ă˜Ă‘ Ă™Ă? Ă—Ă“Ă˜Ă?ĂœĂ‹Ă– Ă‹Ă˜ĂŽ Ă˜Ă‹ĂžĂ&#x;ĂœĂ‹Ă– ĂœĂ?Ă?Ă™Ă&#x;ĂœĂ?Ă?Ă? Ă?Ă™Ăœ Ă?Ă˘ĂšĂ–Ă™ĂœĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă˜ĂŽ Ă—Ă“Ă˜Ă“Ă˜Ă‘ ĂšĂ&#x;ĂœĂšĂ™Ă?Ă?Ă? ËœËŹ Ă’Ă? Ă?Ă‹Ă“ĂŽË› Ă?Ă?ĂšĂ™Ă˜ĂŽĂ“Ă˜Ă‘Ëœ Ă˜Ă&#x; Ă?Ă‹Ă“ĂŽ ÞÒËÞ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă“Ă? ĂŽĂ?Ă?Ă“ĂœĂ™Ă&#x;Ă? Ă™Ă? Ă—Ă‹Ă•Ă“Ă˜Ă‘ Ă’Ă?Ăœ Ă?Ă?Ă™Ă˜Ă™Ă—ĂŁ Ă•Ă˜Ă™ĂĄĂ–Ă?ĂŽĂ‘Ă? ĚŽĂŒĂ‹Ă?Ă?ĂŽ Ă‹Ă˜ĂŽ Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă™Ă˜ ĚŽĂŽĂœĂ“Ă Ă?Ă˜Ëœ Ă?ĂžĂœĂ?Ă?Ă?Ă“Ă˜Ă‘ ÞÒËÞ Ă“Ă‘Ă?ĂœĂ“Ă‹ ĂĄĂ™Ă&#x;Ă–ĂŽ Ă‘Ă‹Ă“Ă˜ Ă—Ă&#x;Ă?Ă’ Ă?ĂœĂ™Ă— ÞÒĂ? Ă˜ĂŽĂ“Ă‹Ă˜ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? Ă“Ă˜ Ă?ÚËĂ?Ă? Ă?Ă?Ă“Ă?Ă˜Ă?Ă? Ă‹Ă˜ĂŽ Ă˜Ă&#x;Ă?Ă–Ă?Ă‹Ăœ ĂžĂ?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘ĂŁË›
AIF Holds Innovation Prize for Africa
MERIGAME HITS MARKET
L-R: Deputy Group Managing Director, Meristem Securities Limited, Mr. Sulaiman Adedokun; Managing Director, Meristem Registrars and Probate Services Ltd. Mubo Olasoko; General Counsel and Head of Regulations, Nigerian Stock Exchange (NSE), Tinu Awe; Group Managing Director, Meristem Securities Limited, Wole Abegunde; and Head, Wealth Management, Meristem Wealth Management Ltd. Damilola Hassan, at the launch of MeriGame Investment Game in Lagos ‌. Recently. SUNDAY ADIGUN
Telcos Challenge NCC to Lead Mobile Money, Cashless Initiative Stories by Emma Okonji Telecommunication Operators (Telcos) have called on the Nigerian Communications Commission (NCC) to take urgent steps to lead the mobile money and cashless initiative in Nigeria. The operators who had earlier kicked against the idea of banks leading the cashless initiative, when it was introduced in 2012 by the Central Bank of Nigeria (CBN), had argued that such noble initiative should be telcos-led, since it would ride on the infrastructure of telecommunications operators. But the CBN objected to it and insisted it must be bank-led because of the risk involved in managing public funds.
TELECOMS The CBN had insisted that the banks were in better position to manage financial transactions and public funds. However, dissatisfied with the position of the CBN, the telcos had argued that the initiative would have been best managed by telcos, while citing M-Pesa, a mobile phone-based money transfer, financing and microfinancing service, launched in 2007 in Kenya and Tanzania. According to the operators, mobile money is fast growing in Kenya, through the M-pesa initiative that is telcos-led. But in spite of the agitation from telcos, the CBN still went ahead to empower the banks to lead cashless and mobile money initiative in Nigeria.
But last week, the telcos agitation to lead the mobile money and cashless initiative in Nigeria, resurfaced, with the telcos blaming CBN and the banks for the slow take-off of mobile money across Nigeria. The telcos, who spoke at a breakfast forum organised by the Nigerian-British Chamber of Commerce (NBCC) in Lagos, challenged the NCC to meet with CBN and discuss the possible takeover of the management of mobile money and cashless initiative, arguing that Nigerians are not getting the desired results of a financially inclusive Nigeria, which mobile money and cashless initiative seek to achieve, just because it is bank-led. Giving reasons why the telcos
should lead the mobile money initiative, they explained that over 75 per cent of financial transactions were carried out on the telcos network and supported by telcos’ infrastructure. They also argued that the number of subscribers across telecoms networks, far outnumbered that of bank customers across the country, and that the telcos are in better position to connect the majority of the unbanked, through mobile phone connectivity. According to them, since the telcos currently have over 150 million subscribers who have mobile phone devices, mobile money transfer could be fast enhanced through the mobile Continued on page 24
Ericsson: Mobile Will Account for 50% TV Viewing in 2020 Ericsson has unveiled the eighth edition of its annual ConsumerLab TV and Media report, which details the massive growth in TV and video viewing and the ongoing shift in the way consumers watch television content. Supported by eight years of extensive media insights, Ericsson ConsumerLab predicts that the growth of on-demand viewing will continue to soar through to 2020, making up almost half of total viewing. According to the report, 50 per cent of all television and video viewing will take place on a mobile screen such as tablets, smartphones and laptops, which is an increase of 85 per cent since 2010, with the smartphone alone accounting for almost one quarter, which is an increase of nearly 160 per cent since 2010.
IT The report also said that virtual reality (VR) would be on the road to becoming mainstream, with 1 in 3 consumers becoming VR users by 2020. Last year, when Ericsson released the seventh edition of its annual ConsumerLab TV and Media Report, it stated that 48 per cent of all active viewing in South Africa was on-demand. Consumers spend most of their viewing time watching downloaded TV and video content, followed by streamed on-demand content, TV series and movies, as well as recorded TV and movies. Live and Linear TV and video viewing was fuelled by TV series and movies, while live sports only made up 6 per cent of the total weekly active view-
ing time. The average South African TV viewer will spend 11 years of their life searching the TV guide for something to watch. When it comes to using multiple on-demand services across several devices, millennials are the most interested group at 46 per cent, while 58 per cent of South Africans showed the highest interest levels for such capabilities. Senior Advisor, Ericsson ConsumerLab, Anders Erlandsson, said: “We can see that consumers are not only watching more video but also changing how and when they do so. This is also shown through the continued growth of mobile viewing, which has been a booming trend since 2010. This year also marks the first time that we have explored the level of consumer interest in
VR in conjunction with media consumption, and the findings have been fascinating. “VR has the potential to bring together people from all over the world and create deeper, more personalised, and more complementary media experiences. As consumer expectations for on-demand, mobile and immersive viewing continues to increase, the TV and media industry must focus on delivering highly personalised services in the very best possible quality available.� According to the report, the time spent watching TV and video content has reached an all-time high of 30 hours a week, including active viewing of scheduled linear TV, live Continued on page 24
Ă’Ă? Ă?ĂœĂ“Ă?Ă‹Ă˜ Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă™Ă˜ Ă™Ă&#x;Ă˜ĂŽĂ‹ĂžĂ“Ă™Ă˜ Ě™ Ěš Ă’Ă‹Ă? Ă‹Ă˜Ă˜Ă™Ă&#x;Ă˜Ă?Ă?ĂŽ ÞÒĂ? Ă?Ă?Ă Ă?Ă˜ĂžĂ’ Ă?ĂŽĂ“ĂžĂ“Ă™Ă˜ Ă™Ă? ÞÒĂ? Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă™Ă˜ ĂœĂ“Ă¤Ă? Ă?Ă™Ăœ Ă?ĂœĂ“Ă?Ă‹ Ě™ Ěš ÞÒĂ?Ă—Ă?ĂŽ ËŠĂ“Ă˜Ă Ă?Ă?ĂžĂ“Ă˜Ă‘ Ă“Ă˜ Ă“Ă˜Ă?Ă–Ă&#x;Ă?Ă“Ă Ă? Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă™Ă˜ Ă?Ă?Ă™Ă?ĂŁĂ?ĂžĂ?Ă—Ă?ËŞË› Ă’Ă? Ă‹Ă˜Ă˜Ă&#x;Ă‹Ă– Ă‹ĂĄĂ‹ĂœĂŽ Ă?Ă?Ă?Ă•Ă? ÞÙ Ă?Ă?Ă–Ă?ĂŒĂœĂ‹ĂžĂ? Ă™Ă&#x;ĂžĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ ĂŒĂœĂ?Ă‹Ă•ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’Ă? ÞÒËÞ ĂŽĂ?Ă–Ă“Ă Ă?Ăœ ĂšĂœĂ‹Ă?ÞÓĂ?Ă‹Ă–Ëœ Ă‹Ă˜ĂŽ Ă?Ù××Ă?ĂœĂ?Ă“Ă‹Ă–Ă–ĂŁ Ă Ă“Ă‹ĂŒĂ–Ă? Ă?ĂœĂ“Ă?Ă‹Ă˜ Ă?ÙÖĂ&#x;ĂžĂ“Ă™Ă˜Ă? ÞÒËÞ Ă‹ĂœĂ? Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă Ă? Ă‹Ă˜ĂŽ Ă?Ă&#x;Ă?ĂžĂ‹Ă“Ă˜Ă‹ĂŒĂ–Ă?Ë› ĘŠĂœĂ—Ă“Ă˜Ă‘ ËŞĂ? ĂšĂ&#x;ĂœĂšĂ™Ă?Ă? ÞÙ Ă?ËÞËÖãĂ?Ă? ÞÒĂ? Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă™Ă˜ Ă?ĂšĂ“ĂœĂ“Ăž Ă“Ă˜ Ă?ĂœĂ“Ă?Ă‹Ëœ Ă“ĂœĂ?Ă?ĂžĂ™ĂœËœ Ă‹Ă&#x;Ă–Ă“Ă˜Ă? Ă&#x;Ă”Ă‹ĂĄĂ‹Ă—Ă‹ĂœĂ“ĂŁĂ‹ Ă™Ă?Ă–ĂŒĂ–Ëœ Ă?Ă‹Ă“ĂŽË? ËŤ Ă? Ă‹ĂœĂ? ÚÖĂ?Ă‹Ă?Ă?ĂŽ ÞÙ Ă–Ă‹Ă&#x;Ă˜Ă?Ă’ Í°ÍŽÍŻÍś Ă‹Ă˜ĂŽ Ă‹ĂœĂ? Ă?Ă™Ă˜Ę¨ĂŽĂ?Ă˜Ăž ÞÒËÞ ÞÒÓĂ? Ă?ĂŽĂ“ĂžĂ“Ă™Ă˜ ĂĄĂ“Ă–Ă– ĂšĂœĂ™Ă Ă? ĂŒĂ“Ă‘Ă‘Ă?Ăœ Ă‹Ă˜ĂŽ ĂŒĂ?ĘľĂ?Ăœ Ă“Ă˜ ĂžĂ?ĂœĂ—Ă? Ă™Ă? ĂšĂ‹ĂœĂžĂ“Ă?Ă“ĂšĂ‹ĂžĂ“Ă™Ă˜ Ă‹Ă˜ĂŽ Ă›Ă&#x;ËÖÓÞã Ă™Ă? Ă?Ă&#x;ĂŒĂ—Ă“Ă?Ă?Ă“Ă™Ă˜Ă?Ë› ÓÞÒ Ă?Ă‹Ă?Ă’ Ă?ĂŽĂ“ĂžĂ“Ă™Ă˜Ëœ Ă’Ă‹Ă? Ă‘Ă™Ă˜Ă? Ă?ĂœĂ™Ă— Ă?ĂžĂœĂ?Ă˜Ă‘ĂžĂ’ ÞÙ Ă?ĂžĂœĂ?Ă˜Ă‘ĂžĂ’ Ă‹ĘľĂœĂ‹Ă?ĂžĂ“Ă˜Ă‘ Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ™ĂœĂ? Ă‹Ă?ĂœĂ™Ă?Ă? ĂŽĂ“Ă?Ă?Ă“ĂšĂ–Ă“Ă˜Ă?Ă? Ă‹Ă˜ĂŽ åÓÞÒ Ă™Ă&#x;ĂžĂ?ĂžĂ‹Ă˜ĂŽĂ“Ă˜Ă‘ Ă?ÙÖĂ&#x;ĂžĂ“Ă™Ă˜Ă? ÞÙ Ă?ĂœĂ“Ă?Ă‹Ă˜ Ă?Ă’Ă‹Ă–Ă–Ă?Ă˜Ă‘Ă?Ă?Ë›
9mobile, Total Spin Reward Customers Ă“Ă‘Ă?ĂœĂ“Ă‹ËŞĂ? ĂžĂ?Ă–Ă?Ă?Ù××Ă&#x;Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? Ă?Ă™Ă—ĂšĂ‹Ă˜ĂŁËœ ÍˇĂ—Ă™ĂŒĂ“Ă–Ă?Ëœ Ă’Ă‹Ă? Ă‹Ă‘Ă‹Ă“Ă˜ Ă‹Ă?Ă?Ă“ĂœĂ—Ă?ĂŽ Ă“ĂžĂ? Ă?Ù××ÓÞ×Ă?Ă˜Ăž ÞÙ ÚÙĂ?ÓÞÓà Ă? Ă?Ă&#x;Ă?ÞÙ×Ă?Ăœ Ă?âÚĂ?ĂœĂ“Ă?Ă˜Ă?Ă? ĂŒĂŁ ĂšĂ‹ĂœĂžĂ˜Ă?ĂœĂ“Ă˜Ă‘ ÙÞËÖ ĂšĂ“Ă˜Ëœ Ă‹ Ă?Ă&#x;ĂŒĂ?Ă“ĂŽĂ“Ă‹ĂœĂŁ Ă™Ă? ĂœĂ™Ă&#x;ĂšËœ ÞÙ ĂœĂ?ĂĄĂ‹ĂœĂŽ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? Ă“Ă˜ Ă‹ ĂšĂœĂ™Ă—Ă™ ÞËÑÑĂ?ĂŽ ÓÑÓÞËÖ Ă&#x;Ă?Ă“Ă˜Ă?Ă?Ă? ĂœĂ™Ă—Ă™Ë› Ă’Ă? ĂšĂœĂ™Ă—Ă™ ĂĄĂ’Ă“Ă?Ă’ Ă’Ă‹ĂŽ ĂžĂ’ĂœĂ?Ă? Ă?Ă‹ĂžĂ?Ă‘Ă™ĂœĂ“Ă?Ă?Ë? ËŤ ĂšĂ“Ă˜ ÞÒĂ? Ă’Ă?Ă?Ă–ËŹËœ ËŤ Ă‹Ă•Ă? Ă‹ Ă“Ă?Ă’ËŹ Ă‹Ă˜ĂŽ ËŤ ĂšĂ™ĂœĂžĂ? ĂœĂ™Ă—Ă™ËŹËœ Ă“Ă? Ă™Ă˜Ă? Ă™Ă? ÞÒĂ? Ă—Ă‹Ă˜ĂŁ Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă Ă? ÚÖËÞĂ?Ă™ĂœĂ—Ă? Ă&#x;Ă?Ă?ĂŽ ĂŒĂŁ ÍˇĂ—Ă™ĂŒĂ“Ă–Ă? ÞÙ Ă?×ÚÙåĂ?Ăœ Ă‹Ă˜ĂŽ Ă‹ĂšĂšĂœĂ?Ă?Ă“Ă‹ĂžĂ? Ă“ĂžĂ? Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ?Ë› Ă’Ă? ÍˇĂ—Ă™ĂŒĂ“Ă–Ă? ÓÑÓÞËÖ Ă&#x;Ă?Ă“Ă˜Ă?Ă?Ă? ĂœĂ™Ă—Ă™ Ă‹Ă“Ă—Ă? ÞÙ Ă?×ÚÙåĂ?Ăœ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? Ă‹Ă˜ĂŽ Ă?ĂžĂœĂ?Ă˜Ă‘ĂžĂ’Ă?Ă˜ ÞÒĂ? ĂŒĂ™Ă˜ĂŽ ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÒĂ? ĂžĂ?Ă–Ă?Ă?Ù× ĂŒĂœĂ‹Ă˜ĂŽ Ă‹Ă˜ĂŽ Ă“ĂžĂ? Ă?Ă&#x;ĂŒĂ?Ă?ĂœĂ“ĂŒĂ?ĂœĂ? ĂžĂ’ĂœĂ™Ă&#x;Ă‘Ă’ Ă Ă‹Ă–Ă&#x;Ă‹ĂŒĂ–Ă? Ă“Ă˜Ă?Ă?Ă˜ĂžĂ“Ă Ă?Ă?Ë› Ă’Ă? ĂšĂœĂ™Ă—Ă™ Ă“Ă? Ă‹Ă–Ă?Ă™ ĂžĂ‹ĂœĂ‘Ă?ĂžĂ?ĂŽ Ă‹Ăž ĂœĂ?ĂĄĂ‹ĂœĂŽĂ“Ă˜Ă‘ Ă?Ă&#x;ĂŒĂ?Ă?ĂœĂ“ĂŒĂ?Ăœ ÖÙãËÖÞã ÞÙ ÞÒĂ? Ă˜Ă?ĂžĂĄĂ™ĂœĂ•Ë› ĂšĂ?Ă‹Ă•Ă“Ă˜Ă‘ Ă‹Ăž ÞÒĂ? ĂšĂœĂ“Ă¤Ă? ĂšĂœĂ?Ă?Ă?Ă˜ĂžĂ‹ĂžĂ“Ă™Ă˜ Ă?Ă?ĂœĂ?Ă—Ă™Ă˜ĂŁ Ă’Ă?Ă–ĂŽ ĂœĂ?Ă?Ă?Ă˜ĂžĂ–ĂŁ Ă“Ă˜ Ă‹Ă‘Ă™Ă?Ëœ Ă‹Ă˜Ă‹Ă‘Ă?ĂœËœ Ă™Ă˜ĂžĂ?Ă˜Ăž Ă‹Ă˜ĂŽ Ă‹ĂœĂžĂ˜Ă?ĂœĂ?Ă’Ă“ĂšËœ ÍˇĂ—Ă™ĂŒĂ“Ă–Ă?Ëœ Ă‹ĂŁĂ™ ĂŽĂ?ĂŁĂ?Ă–Ă&#x;ĂœĂ?Ëœ Ă?Ă‹Ă“ĂŽË? ËŤÍˇĂ—Ă™ĂŒĂ“Ă–Ă? Ă“Ă? ÚËĂ?Ă?Ă“Ă™Ă˜Ă‹ĂžĂ? Ă‹ĂŒĂ™Ă&#x;Ăž ĂšĂ‹ĂœĂžĂ˜Ă?ĂœĂ“Ă˜Ă‘ Ă?ĂœĂ?ĂŽĂ“ĂŒĂ–Ă? Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? ÞÙ Ă?×ÚÙåĂ?Ăœ Ă“ĂžĂ? Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? åÓÞÒ Ă“Ă˜Ă˜Ă™Ă Ă‹ĂžĂ“Ă Ă? Ă?ÙÖĂ&#x;ĂžĂ“Ă™Ă˜Ă? Ă‹Ă˜ĂŽ ÚÖËÞĂ?Ă™ĂœĂ—Ă? ÞÒËÞ Ă?Ă˜Ă‹ĂŒĂ–Ă? ÞÒĂ?Ă— ÞÙ Ă‹Ă?Ă’Ă“Ă?Ă Ă? ÞÒĂ?Ă“Ăœ ĂŽĂœĂ?Ă‹Ă—Ă?˛ˏ
Dell Unveils New IoT Strategy, Solutions Ă?Ă–Ă– Ă?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?Ă? Ă’Ă‹Ă? Ă&#x;Ă˜Ă Ă?Ă“Ă–Ă?ĂŽ Ă“ĂžĂ? Ă˜ĂžĂ?ĂœĂ˜Ă?Ăž Ă™Ă? Ă’Ă“Ă˜Ă‘Ă? Ě™ Ă™ Ěš Ă Ă“Ă?Ă“Ă™Ă˜ Ă‹Ă˜ĂŽ Ă?ĂžĂœĂ‹ĂžĂ?Ă‘ĂŁËœ Ă‹ Ă˜Ă?ĂĄ Ă™ ĂŽĂ“Ă Ă“Ă?Ă“Ă™Ă˜ Ă‹Ă? ĂĄĂ?Ă–Ă– Ă‹Ă? Ă˜Ă?ĂĄ Ă™ Ă?ĂšĂ?Ă?Ă“Ă?Ă“Ă? ĂšĂœĂ™ĂŽĂ&#x;Ă?ĂžĂ?Ëœ Ă–Ă‹ĂŒĂ?Ëœ ĂšĂ‹ĂœĂžĂ˜Ă?Ăœ ĂšĂœĂ™Ă‘ĂœĂ‹Ă— Ă‹Ă˜ĂŽ Ă?Ă™Ă˜Ă?Ă&#x;Ă—ĂšĂžĂ“Ă™Ă˜ ×ÙÎĂ?Ă–Ă?Ë› Ă’Ă? Ă‹Ă˜Ă˜Ă™Ă&#x;Ă˜Ă?Ă?Ă—Ă?Ă˜Ăž Ă&#x;Ă˜ĂŽĂ?ĂœĂ?Ă?Ă™ĂœĂ?Ă? Ă?Ă–Ă– Ă?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?Ă? Ă?Ù××ÓÞ×Ă?Ă˜Ăž ÞÙ Ă’Ă?Ă–ĂšĂ“Ă˜Ă‘ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? ĂœĂ?Ă‹Ă–Ă“Ă?Ă? ÞÒĂ?Ă“Ăœ ÎÓÑÓÞËÖ Ă?Ă&#x;ĂžĂ&#x;ĂœĂ? ĂŒĂŁ Ă?Ă‹Ă?Ă?Ă–ĂŁ Ă˜Ă‹Ă Ă“Ă‘Ă‹ĂžĂ“Ă˜Ă‘ ÞÒĂ? Ă?Ù×ÚÖĂ?â Ă‹Ă˜ĂŽ Ă™Ă?ĂžĂ?Ă˜ Ă?ĂœĂ‹Ă‘Ă—Ă?Ă˜ĂžĂ?ĂŽ Ă™ Ă–Ă‹Ă˜ĂŽĂ?Ă?Ă‹ĂšĂ?Ë› Ă? Ă—Ă™ĂœĂ? Ă‹Ă˜ĂŽ Ă—Ă™ĂœĂ? Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? ÖÙÙÕ ÞÙ ÎÓÑÓÞËÖÖã ĂžĂœĂ‹Ă˜Ă?Ă?Ă™ĂœĂ— ÞÒĂ?Ă“Ăœ ĂŒĂ&#x;Ă?Ă“Ă˜Ă?Ă?Ă?Ëœ Ă‹ Ă˜Ă?ĂĄ ×ÙÎĂ?Ă– Ă™Ă? Ă?Ù×ÚĂ&#x;ĂžĂ“Ă˜Ă‘ Ă“Ă? Ă?Ă—Ă?ĂœĂ‘Ă“Ă˜Ă‘Ë› Ă™Ăœ ÞÒĂ? Ă–Ă‹Ă?Ăž ÍŻÍł ĂŁĂ?Ă‹ĂœĂ? ÞÒĂ? Ă“Ă˜ĂŽĂ&#x;Ă?ĂžĂœĂŁ Ă’Ă‹Ă? Ă?Ă?Ă?Ă˜ ÞÒĂ? ĂœĂ“Ă?Ă? Ă™Ă? Ă?Ă–Ă™Ă&#x;ĂŽ Ă?Ù×ÚĂ&#x;ĂžĂ“Ă˜Ă‘Ëœ Ă‹ Ă’Ă“Ă‘Ă’Ă–ĂŁ Ă?Ă?Ă˜ĂžĂœĂ‹Ă–Ă“Ă?Ă?ĂŽ ×ÙÎĂ?Ă– Ă?Ă™Ăœ ĂŽĂ?Ă–Ă“Ă Ă?ĂœĂ“Ă˜Ă‘ Ă?Ă?ĂœĂ Ă“Ă?Ă?Ă?Ë› Ă’Ă‹Ă“ĂœĂ—Ă‹Ă˜ Ă‹Ă˜ĂŽ Ă’Ă“Ă?Ă? âĂ?Ă?Ă&#x;ÞÓà Ă? Ă?Ă?Ă“Ă?Ă?Ăœ Ă™Ă? Ă?Ă–Ă– Ă?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?Ă?Ëœ Ă“Ă?Ă’Ă‹Ă?Ă– Ă?Ă–Ă– Ă?Ă‹Ă“ĂŽË? ËŤ Ă™ Ă“Ă? Ă?Ă&#x;Ă˜ĂŽĂ‹Ă—Ă?Ă˜ĂžĂ‹Ă–Ă–ĂŁ Ă?Ă’Ă‹Ă˜Ă‘Ă“Ă˜Ă‘ ÒÙå ĂĄĂ? Ă–Ă“Ă Ă?Ëœ ÒÙå Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ă? ÙÚĂ?ĂœĂ‹ĂžĂ? Ă‹Ă˜ĂŽ ÒÙå ÞÒĂ? ĂĄĂ™ĂœĂ–ĂŽ ĂĄĂ™ĂœĂ•Ă?Ë› Ă?Ă–Ă– Ă?Ă?Ă’Ă˜Ă™Ă–Ă™Ă‘Ă“Ă?Ă? Ă“Ă? Ă–Ă?Ă‹ĂŽĂ“Ă˜Ă‘ ÞÒĂ? ĂĄĂ‹ĂŁ Ă?Ă™Ăœ Ă™Ă&#x;Ăœ Ă?Ă&#x;Ă?ÞÙ×Ă?ĂœĂ? åÓÞÒ Ă‹ Ă˜Ă?ĂĄ ĂŽĂ“Ă?ĂžĂœĂ“ĂŒĂ&#x;ĂžĂ?ĂŽ Ă?Ù×ÚĂ&#x;ĂžĂ“Ă˜Ă‘ Ă‹ĂœĂ?Ă’Ă“ĂžĂ?Ă?ĂžĂ&#x;ĂœĂ? ÞÒËÞ ĂŒĂœĂ“Ă˜Ă‘Ă? Ă™ Ă‹Ă˜ĂŽ Ă‹ĂœĂžĂ“Ă?Ă“Ă?Ă“Ă‹Ă– Ă“Ă˜ĂžĂ?Ă–Ă–Ă“Ă‘Ă?Ă˜Ă?Ă? ÞÙÑĂ?ÞÒĂ?Ăœ Ă“Ă˜ Ă™Ă˜Ă?Ëœ Ă“Ă˜ĂžĂ?ĂœĂŽĂ?ĂšĂ?Ă˜ĂŽĂ?Ă˜Ăž Ă?Ă?Ă™Ă?ĂŁĂ?ĂžĂ?Ă— Ă?ĂœĂ™Ă— ÞÒĂ? Ă?ĂŽĂ‘Ă? ÞÙ ÞÒĂ? Ă?Ă™ĂœĂ? ÞÙ ÞÒĂ? Ă?Ă–Ă™Ă&#x;ĂŽË›
“The recent ISO 9001:2015 certiďŹ cation archived by VDT Communications, underscores the competence and readiness of the company to serve its customers even much betterâ€?
CEO, VDT Communications, Mr. Biodun Omoniyi
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T H I S D AY Ëž Ëœ ÍŻÍˇËœ Í°ÍŽÍŻÍľ
TELCOS CHALLENGE NCC TO LEAD MOBILE MONEY, CASHLESS INITIATIVE phone devises. Although the issue of who regulates the mobile money and cashless initiative was raised at the forum, but the telcos were of the view that both the NCC and the CBN would become the new regulators, should CBN reverses the bank-led initiative to telcos-led initiative. The CBN had in 2012, introduced cashless initiative, which included mobile money transaction, designed to reduce the volume of physical cash in circulation. In order to achieve its goal, CBN licenced mobile money operators and commenced the pilot phase of cashless initiative with Lagos. After one year, CBN extended the initiative to five additional states to include Ogun, Kano, Anambra, Abia and Rivers, before it further extended it to all the states of the federation in February 2017.
ERICSSON: MOBILE WILL ACCOUNT FOR 50% TV VIEWING IN 2020 and on-demand internet services, downloaded and recorded content, as well as DVD and Blu-ray. However, close to 60 per cent of viewers now prefer on-demand viewing over scheduled linear TV viewing, an increase of around 50 per cent since 2010. The report further revealed that the average number of used on-demand services has increased from 1.6 in 2012 to 3.8 services in 2017 per person, and that 2 in 5 consumers already pay for on-demand TV and video services today and nearly a third, which is about 32 per cent said they would increase their on-demand spending in the next 6-12 months. Portability is also becoming increasingly important factor, with more than a third of consumers wanting access to content when abroad, and smartphone viewing also continues to gain ground. Approximately 70 per cent of consumers now watch videos on a smartphone, which is double the amount from 2012, making up a fifth of total TV and video viewing, the report said.
Group Business Editor
Ă’Ă“Ă•Ă‹ Ă—Ă‹Ă˜Ă¤Ă?Ě‹ ĂĄĂ‹Ă?Ă’Ă&#x;Ă•Ă&#x; AgriBusiness/Industry Editor
Ă™Ă˜Ă‹ĂžĂ’Ă‹Ă˜ äĂ? Comms/e-Business Editor
Ă—Ă—Ă‹ Ă•Ă™Ă˜Ă”Ă“ Capital Market Editor
ÙÎÎã Ă‘Ă?Ă˜Ă? Senior Correspondent
Ă‹Ă’Ă?Ă?Ă— Ă•Ă“Ă˜Ă‘ĂŒĂ™Ă–Ă&#x; (Advertising) Correspondents
Ă’Ă“Ă˜Ă?ĂŽĂ&#x; äĂ? (Aviation) Ă“Ă˜ĂŽĂ‹ ĂœĂ™Ă•Ă? (Labour) ĂœĂ™Ă—Ă™Ă?Ă?Ă–Ă? ĂŒĂ“Ă™ĂŽĂ&#x;Ă˜ (Maritime) ÔÓÙĂ?Ă™Ăœ Ă–Ă“Ă•Ă? (Energy) Ă‹Ă—Ă?Ă? Ă—Ă?ÔÙ (Nation’s Capital) ĂŒĂ“Ă˜Ă˜Ă‹ Ă’Ă“Ă—Ă‹ (Money Mkt) Ă’Ă“Ă˜Ă?Ă—Ă? Ă•Ă‹Ă?Ă™Ăœ (Energy) Reporters
Ă&#x;Ă—Ă? Ă•Ă?Ă‘Ă’Ă? (Money Market) Ă™Ă?Ă‹ Ă–Ă?Ă•Ă’Ă&#x;ÙÑÓĂ? (Cap Mkt)
Nigeria’s Aviation attracted $4bn in 2016, Needs $50bn to Grow Chinedu Eze For the aviation industry to grow in Nigeria to be in tandem with what is obtained in other parts of the world and for the country to actualise its desire to become a hub in West and Central Africa, the industry needs an injection of $50 billion in the next 30 years. This was the projection given by industry expert and Chief Executive Officer (CEO) of RTC Advisory, Opeyemi Agbaje when in a presentation at the Colloquium 2017, Vision 2050 for Aviation Industry held in Lagos on Tuesday. Agbaje said the Nigerian aviation industry attracted $4 billion foreign direct investment (FDI) in 2016, noting that in 2010, the sector attracted $6 billion, $7.1billion in 2012; $5.6 billion in 2013; $4.6 billion 2014 and $8 billion in 2015. Delivering a paper titled: ‘Vision 2050: How to fast track Nigeria’s Aviation,’ Agbaje remarked that by attracting these huge funds during the said periods indicated that the country did not encourage private participation and stressed that the industry needs about $50 billion to grow into a competitive industry and utilise the huge market provided by the country’s growing population. But for this goal to be realised the country needs stable macroeconomic environment and should be forward looking in its activities. “It requires a stable macroeconomic environment; forward-looking and proactive
policy; a clear and compelling vision for the industry shared by all stakeholders including government and the private sector; and regulation that seeks to foster industry transformation,� he said. He said the federal government could not solely provide all the infrastructural gaps in the country’s aviation industry, insisting that the answer to Nigeria’s aviation industry was FDI.
The consultant said Nigerian transport industry would require at least $800 billion in the next 37 years to address the infrastructural gaps in the system while the Nigerian aviation industry would require $50bn within the period. Agbaje said the Nigerian economy in 1999 was $57 billion while it grew to $110 billion by 2013, but noted that by 2016 the growth declined.
According to him, all forms of transportation contributed 2.88 per cent to the Nigerian economy in 1999, but nosedived to just 1.4 per cent of the nation’s economy, stressing that within the period, the Nigerian economy had grown ten folds while the transportation industry had continue to decline. Agbaje noted further that there have been shifts in the structure of the Nigerian
economy over the years sector, but insisted that for the country to be rated among the best, it should improve on the infrastructural deficits in the system. However, Agbaje observed that Nigeria had become a more diversified economy especially in the domestic production, but the federal government was yet to diversify from dependence on crude oil.
UNVEILING THE AMBASSADOR
L-R: Company Secretary, PaddyPaddybet.com, Mrs Kemi Akinbohun; Human Resources/Admin Manager, Michelle Inegbese; Nollywood Actress, Eniola Ajao and General Manager, Alexander Ezekiel, at the unveiling of Ajao as the Face of PaddyPaddybet.com in Lagos... recently
GatesFoundationExpandsAccesstoFinancialServicesinDevelopingCountries Stories by Emma Okonji The Bill & Melinda Gates Foundation has released a new open-source software for creating payment platforms that will help unbanked people around the world access digital financial services. The software is designed to provide a reference model for payment interoperability between banks and other providers across a country’s economy. It is available now, free-of-cost, for software developers to adapt and for the banks, financial service providers and companies to implement. The open source software comes with a code that can be found at mojaloop.io. The new code seeks to reduce complexity and cost of building payment platforms that connect poor customers to merchants, banks, mobile money providers and government. Current data from the World Bank show that nearly two billion people in developing economies lack bank accounts and miss out on the benefits and security that basic financial services provide. Digital financial services, such as mobile money on cell phones, have rapidly expanded over the last two decades because they are convenient for users and cost-effective for companies aiming to serve new markets. In Kenya, an estimated 194,000 households have moved out of extreme poverty due in
part to their access to M-Pesa, a mobile money platform, and users’ ability to save money more effectively. Digital financial services are now available in nearly 100 countries according to GSMA, an organisation representing mobile network operators. However, global expansion of these services, especially to the world’s poor, has been hampered, in large part, by a lack of interoperability between digital financial services and payment platforms. The new software, called Mojaloop, establishes a blueprint for connecting today’s financial services sector, and can be used as a solution to barriers that banks and providers seeking interoperability have traditionally faced. Delivering financial services to the poor is prohibitively challenging for many businesses because they struggle to invest adequately in complex technology while maintaining a commitment to low-cost, inclusive services. This has led to a prevalence of consumer payment options that are out of reach for many people in developing economies, or which limit customers’ ability to transact across products, banks and borders. These and similar challenges have dissuaded many companies from expanding into developing markets altogether. According to a statement from the Gates Foundation, Mojaloop could be used by financial institutions and commercial providers, to
simplify and reduce the cost of developing inclusive payment platforms. Deputy Director, Financial Services for the Poor, at the Gates Foundation, Kosta Peric, said: “Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any
service, and we invite banks and the payments industry to explore and test this tool. “Just as the internet revolutionised digital communication, open-source solutions like Mojaloop can spark innovation and democratise access to digital payments, empowering billions of new customers and driving massive economic growth in developing markets.�
Mojaloop, which is about building off the Swahili word ‘moja,’ which means ‘one’, was created in partnership with FinTech developers; Ripple, Dwolla, ModusBox, Crosslake Technologies and Software Group, using cutting-edge technology such as the Interledger Protocol, a solution for settling funds among multiple providers across their individual systems.
StarTimes Vows to Lead Campaign on HIV Prevention At the inaugural meeting of Global HIV Prevention Coalition held in Geneva, Switzerland on October 10th11th, StarTimes Vice-President, Guo Ziqi, made known the desire of the Pay Tv company to champion campaign on the prevention of HIV prevention. At the meeting, Ziqi sent a strong message towards reaching the prevention targets of the 2016 Political Declaration on Ending the Acquired Immune Deficiency Syndrome (AIDS). With this declaration, United Nations Member States have committed to reducing new adult HIV infections to fewer than 500,000 annually by 2020 and ending AIDS as a public health threat by 2030. The Joint United Nations Programme on HIV/AIDS (UNAIDS) and the United
Nations Population Fund (UNFPA) have since been working on generating support for a global HIV prevention coalition with the aim of strengthening and sustaining political commitment for primary prevention. Co-convened by UNAIDS Executive Director, Michel SidibĂŠ and UNFPA Executive Director, Natalia Kanem, the Inaugural Meeting of Global HIV Prevention Coalition gathered United Nations Member States, civil society, philanthropists, academics and international organisations to launch the Prevention 2020 Road Map for achieving the global commitments on HIV prevention. As the representative of the only private sector media organisation present at the meeting, Ziqi said he was committed “to make full use
of our resources and play to our strength to implement the road map to ensure the message reaching the largest number of people at the shortest time possible to make the most impact. StarTimes will be at the vanguard of HIV prevention.� Established in 35 countries, StarTimes is a leading digital TV operator across sub-Saharan Africa, providing a signal covering the whole continent, with affordable digital television to over 10 million subscribers. “For StarTimes, these are not just 10 million subscribers, they are 10 million families, including the key population who can be reached with the urgent message and the hope of ‘Ending AIDS as a public Health Threat by 2030’ with the joint effort of UNAIDS,� Ziqi added.
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As NIPOST Grapples with Digitisation The inability of the Nigerian Postal Service to key into technology advancement over the years, has posed a serious challenge for it, but its new managers are striving to digitally transform postal services in line with global trends, writes Emma Okonji The Nigerian Postal Service (NIPOST) became an autonomous entity in 1985, following the split of Post and Telecommunication (P&T) Department into two corporate entities. The division marked the beginning of a new dawn in the history of postal service in Nigeria, which came with a lot of transformations and reforms. Existing infrastructure were upgraded and numerous outlets were created to bring postal services closer to the people. In line with international standard and best practices, lot of innovations were brought to bear on products/ services, packaging and delivery, and post offices were established in all the 774 local government areas across the country. At that time, Nigerians patronised the post office as a reliable means of sending and receiving mails. In cities, towns and rural areas, people depended on the post for one service and product or the other. They included private/business letter boxes, postage stamps, registered mail, parcel, postal orders, local and international money orders, airmail, international reply coupons, post cards and even banking services among others. In order to remain competitive and to serve its customers better, the NIPOST courier arm, known as the Expedited Mail Service (EMS)/ Speed post was introduced during that period. Then NIPOST became the biggest employer of labour and many school graduates desired to work with NIPOST. But today, the reverse is the case as NIPOST gradually deteriorated and became a shadow of itself, just because it failed to take advantage of emerging technologies to grow its business and remain competitive. Disturbed by the deteriorating state of NIPOST, its new managers are challenged to transform the government parastatal, in line with modern technology evolution. During the 49th World Post Week celebration held last week across globe, which NIPOST participated in Lagos, issues of technology innovation and how the agency could key into it, were discussed extensively. Keynote speakers commended the new managers for their initiative to reposition NIPOST in line with global technology trends. The New NIPOST When the new Postmaster General and Chief Executive Officer (PMG/CEO) of NIPOST, Bisi Adegbuyi, assumed office last year, he knew he had a lot of challenges in his hands to turn around NIPOST and to restore back Nigerians’ confidence in the organization. One of the greatest challenges that he had, was how to upgrade the dilapidated infrastructure of NIPOST, using modern technologies, in such a way that it would become the money spinning government agency that it used to be in the past. Another challenge was how to bring back the Nigerian youths to start patronising NIPOST services, since they form a larger percentage of the Nigerian population. In order to overcome the herculean task before him, the first thing Adegbuyi did was to change the old structure of NIPOST in order to create a new NIPOST that is ready for competition and driven by modern technologies. In doing so, Adegbuyi collapsed the old 38 territorial structures of NIPOST and restructured its operations into seven zones with 106 districts that are being headed by District Managers. The restructuring placed the entire Lagos and Ota in Ogun State, under one zone, called the Lagos Zone, with 12 districts. The essence of the restructuring is to promote efficiency in the operations of NIPOST. Repositioning backed by innovation While delivering a paper titled: ‘Repositioning NIPOST for Innovation, Inclusion and Integration: he Challenge Ahead’, during the World Post Week celebration in Lagos, one of the keynote speakers, Dr. Maryam Omolara Quadri, who is a senior lecturer at the Department of Political Science, University of Lagos, challenged the new management of NIPOST on the need for innovation. According to her, “Postal customers today are different from the customers of years back. The needs of today’s customers are changing rapidly
NIPOST Lagos Zonal Manager, Mrs. Adebola Ayeni (5th left), with Lagos Zonal District Managers, during cake cutting to celebrate the 49th World Post Week held last week across globe, which NIPOST participated in Lagos with the changes in the social, economic and political world. The emergence of new technologies and trend in digital transformation has thrown up a big challenge for postal service worldwide. The process of innovation therefore involves implementation of new ideas to achieve desired social and economic outcomes.” She insisted that the new orientation of NIPOST being fostered by innovation, must require collaboration with relevant stakeholders. She added that emerging issues in the introduction of innovative services and practices that are geared towards helping NIPOST to reposition itself, would require continuous cooperation with government and important stakeholders in the postal service. Quadri therefore called on governments at all levels to be committed to creating an enabling environment for the post to deliver on its responsibilities. She said NIPOST has continued to play a significant role in the economic, political and social lives of the people and development of the country, and must therefore innovate in every aspect of its operations. Leveraging on digital transformation Quadri, who is of the view that NIPOST must leverage on modern technologies to digitally transform its operations, raised the issue of how prepared are NIPOST staff to leverage on the digital transformation of posts with the aim of enhancing service delivery to target customers. Other questions she raised, were:Is the traditional postal service bureaucracy ready to make the change that will help it to progress in this new age? Is the postal sector ready to embrace innovations in ideas and practices? She, however, quoted the PMG of the federation, as saying: “The restructuring is in line with the principle of delegation and devolution of powers to enable NIPOST run in a more efficient manner to engender operational efficiency, better service delivery, diversification and inclusive growth process by all the members of staff of the organisation.” “However, as much as re-organisation is desirable, old tools and old methods of operation would have to be modified to suit new demands or dispensed with if found to be unsuitable for the purpose of transformation and dealing with the new challenges of a rapidly changing world,” Quadri said. In addressing the importance of innovation, Quadri stressed the need for NIPOST to innovate, and explained that the inevitability of innovation was informed by the need for organisations to survive and grow. The inability of an organisation to adapt to change spells doom for such organisation. Innovations matter because change is constant, and any organisation that wants to survive must
be able to adapt to changes and overcome the challenges brought about by them. Innovation, she further said, is about the implementation of a new or significantly improved product or process, a new marketing method, or a new organisation method in business practices, workplace organisations or external relations. She added that the process of innovation therefore involves implementation of new ideas to achieve desired social and economic outcomes. “It is equally important that before adopting an innovation, an organisation should strive to know whether the innovation in question is appropriate by relating it to three important factors, which she listed to include; whether the ideas supports the strategic direction of the organisation; whether the innovation is in line with the organisation current structure; and whether the innovation is within the organisation’s capacity,” she said. Innovative technologies for NIPOST Another keynote speaker at the World Post Week organised , Dr. Asuquo Abianga, who is the General Manager, EMS/Parcel Nigeria, emphasised on innovative technologies that could enable postal operations perform more efficiently for better service delivery to customers. He listed some of the technology solutions to include tracking system, barcodes, cameras, sensors, radio frequency, among others. According to him, NIPOST could use the tracking system to modernise its processes and substantially invest in information technology (IT) infrastructure as a means of raising its operational efficiency. “Apart from tracking system, barcodes speed up parcel sorting, since they can automatically scan. He said NIPOST must introduce the data rich 2D codes, which contain additional information such as routing instructions that enable tracking. The barcode also enables new value added mail services, as the 2D code can carry additional information such as personalised special offers or discount that can be redeemed at a local shop,” Abianga said. Sensor, he added, also speeds up sorting as well as cameras scanners along with fingerprint technology, based on item images and software recognition. He spoke on Radio Frequency Identification Devices (RFID), which enables a faster remote processing and it is used for some express and specific logistics products. The listed technology solution, he said, would help NIPOST to better reposition for greater efficiency. The future of NIPOST with e-commerce Although NIPOST has already aligned itself with e-commerce, which is an online platform for trading of goods and services, Abianga said much still have to be done in the area
of e-commerce, if the agency must remain competitive. He explained that many Nigerians, especially the youths, have connected to the internet through their smartphone devices and that NIPOST is doing everything possible to create products and services that will attract the youths to the post office. “The NIPOST should therefore enhance the increasing competition in the e-commerce market as it provides positive incentives for all market players, retailers as well as Parcel carriers and lend and additional impetus to the development of new online shopping and delivery solutions,” Abianga said. Acting General Manager, E-commerce Logistics at NIPOST, Mr. Ahmed Owolabi, said although letter posting and deliveries are on the decline, online parcel deliveries are on the increase. He, however, called on the management of NIPOST to invest in appropriate technologies that will further drive e-commerce business in NIPOST, which he said, had already partnered some e-commerce companies like Jumia, Konga and Yudala for parcel deliveries. According to him, the volume of parcel deliveries from NIPOST is on the increase on a yearly basis. New products and services In her welcome address, the NIPOST Lagos Zonal Manager, Mrs. Adebola Ayeni, listed some of the newly introduced internet-based products and services that would further reposition NIPOST to include: IPS Track and Trace, E-stamp, E-commerce, E-insurance, Postal and Money Order Online Purchase, Post Office Card approved by MasterCard, NIPOST Agency Banking, Bank of Agric Agency Banking, and Address Verification System, among others. She called on the general public to take advantage of the newly introduced products and services and experience faster and safer delivery of items. Commenting on the theme of this year’s World Post Week, ‘Serving A New Society: Delivery Beyond Your Door Step,’ Ayeni said NIPOST would continue to innovate to change the face of postal service in Nigeria, re-launch NIPOST back to public consciousness and bring back the Nigerian youths into the post offices. Deputy Speaker, Lagos State House of Assembly, Hon. Wasiu Sanni, who was represented by one of the assembly members, Gbenle Adeshola, advised NIPOST to become more innovative in order to address the competition and threats posed by new technology and the social media. He said NIPOST must adjust to emerging technology realities, and remain competitive in business. He however commended the restructuring initiative in NIPOST, which he said, would help it to grow its e-commerce business.
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Opeke: Nigeria Needs Business Enabling Environment The Chief Executive Officer MainOne, Funke Opeke, spoke to journalists on the need for government to create the enabling environment for businesses to thrive before wooing foreign investors. Emma Okonji presents the excerpts: communities. How well has MainOne taken advantage of the fund? MainOne has never gotten a kobo from USPF even though the fund was supposed to assist InfraCos in deepening infrastructure in the rural communities. What we need as a country is a transparent deployment of infrastructure in the rural communities that is subsidised by the USPF funds.
Nigeria attends ITU Telecom World conference every year to showcase the country’s potential and woo foreign investors to the country. What has been the impact of the frequent attendance on the Nigerian economy? I think we can look at the impact of Nigeria’s frequent participation at ITU conferences from two sides. There is the technical exchange experience that is being shared on one hand because ITU is the custodian of standards for the telecommunications industry globally, which gives Nigeria the edge to collaborate and learn from other countries that also attend ITU conferences. But on the other side, and in terms of business growth and commercial activities, I do not think that Nigeria and the Nigerian businesses are still getting the value they used to get in previous years. This year’s ITU conference for instance, was dominated by African and Asian countries, but countries from Europe and United States that have used technologies to develop their economies and are generating good money from Information and Communications Technology (ICT), did not attend the ITU conference. So, I think ITU has relevance in terms of technical standards and regulations in areas of satellite slots and spectrum allocations, but in terms of commercial activities, I do not think there is more of an impact. So what is the best method that Nigeria should adopt to attract foreign investments to the country? Success begets success and this is one thing government must understand, while pushing for investors to come to Nigeria and invest. When investors want to invest in a country, they may go to government, but their preferred point of call is the local business operators, operating in the country. They will like to hear from local business owners, about how well their local businesses are thriving and how much of enabling environment do they have, doing business in the country. They also want to know from the local business owners, how easy it is to solve business challenges that could emanate in the cause of doing business in the country. It is the feedbacks they get from the local business owners that informs their decision making on whether to come to Nigeria to invest or not. They do not rely only on what the government tells them, they also do their feasibility studies and ask questions from businesses that are already on ground. So it will be right for the Nigerian government to fix its country and create the enabling environment for businesses to thrive, before wooing foreign investors. So like I said earlier, success begets success. There is a global shift from voice communication to data communication, which could be the reason why there was so much display of 5G technology at this year’s ITU conference. How has MainOne positioned its business to take advantage of data and 5G technology that are now trending? At MainOne, we are well positioned to drive data penetration. The 5G technology is a faster technology in terms of speed of broadband and capabilities at reasonable cost. But for 5G to be effective, we need enough fibre infrastructure and data centres, and MainOne is at the forefront of building the infrastructure to enable the implementation of our InfraCo licence, which covers Lagos and be able to rollout in other parts of the country. All these will however be possible if we are given the opportunity to rollout. Nigeria has a lot to do to catch-up with global technologies. At ITU, so much were seen and heard of countries like Korea and China that have gone far in the use of technology to drive their economies and there is a huge gap between Nigeria and these developed countries, in terms of technology advancements. So Nigeria has a lot of work to do to catch up with the developed countries of the world.
In 2010, MainOne landed its submarine cable from Europe to Nigeria, just to boost broadband capacity and penetration in the county. What have been the challenges and the success stories since then? It has been interesting and we have been able to make positive impact on data communication in Nigeria since the landing of MainOne submarine cable in Nigeria. As an independent cable operator, we were able to drive down the cost of data from what it used to be, and thereby stimulate the market to have better internet penetration. Although the process has been slow and steady, but we have been able to create that impact on Nigerian businesses and the Nigerian economy.
Opeke
The telecoms industry regulator had since licensed two InfraCos and they kept saying they were in the process of licensing additional five InfraCos to address the infrastructure deficit in the country, yet the two licensed InfraCos, which MainOne is one of them, are yet to rollout their services. Are you not disturbed about this situation? Yes, I am disturbed about it, but there are challenges, which I think are in the bureaucracy of government. For MainOne, we are ready to roll-out because we have concluded all the necessary connectivities, we have the fibre in the warehouse for over one year now, we have all the corrugated optical ducts, our contractors are selected and ready, but the challenge is that MainOne cannot commence the building of the infrastructure without permission to do so. Until we get the permission, we cannot do anything. Most times government comes with various rules and we try to work with government and we are looking up to government for permission to start building telecoms infrastructure. MainOne has been licensed by Nigerian Communications Commission (NCC) as one of the two InfraCos, so what kind of permission are you still expecting from government? Yes, we have been licensed as InfraCo for the Lagos zone, but licences have conditions. Some state government laws do not allow telecoms operators to excavate the ground to lay their broadband fibre cables in certain jurisdiction. So the conditions attached to the license from the NCC and the Lagos State government, are some of the things that are slowing down the rollout process, even though we have the licence. At the time we got the InfraCo licence, if anyone had predicted that we would not be able to rollout by this time, I would have disagreed with such prediction, but here we are today, faced with several challenges that are impeding rollout plans. Initially when we were going through the processes of getting permit, we thought it was going to be easy, but today we have found out that the process is cumbersome. We have the infrastructure stored in warehouses for over a year now, but we can’t deploy them because of government bureaucracy. There is an executive order on the Ease of Doing Business in Nigeria. How is the order helping investors and Nigerian businesses? As a business person operating in Nigeria, I will want to see the executive order on the
Ease of Doing Business translate into realities, but even at that, I must commend the office of the Vice President for what they have done. But again, I do not have to go to the office of the Vice President to get permit, before I run my business or before I get custom clearance or approval for SON CAP from Standard Organisation of Nigeria (SON). What matters is the attitude and adherence to the executive order by the various agencies of government that we deal with. If the government agencies implement the executive order to the letter and allow businesses to thrive in the country the way it should be, then business owners will begin to feel the impact of the executive order. Businesses are yet to feel the impact of the executive order on Ease of Doing Business, but in the areas of implementation of Visa on Arrival, quick registration of businesses and business names, I think we are beginning to feel their impacts, because people now apply for Nigeria Visa on arrival and they get it as soon as they arrive. The Corporate Affairs Commission (CAC) is now very fast at company’s registration and this is good for investors and business owners in Nigeria to make quick visits to Nigeria unhindered, and also get their companies registered in due time. MainOne has been a strong advocate of broadband penetration in Nigeria, but experts have said that less than 10 per cent of the total broadband capacities at the shores of the country, is being utilised. Why the under-utilisation? Yes, the utilisation of broadband capacities in Nigeria is still very low, not because the people do not have need for it, but because the people do not have access to it, based on the inability of government to build a national backbone infrastructure that will transmit these capacities from the sea shores to the hinterlands, where they are mostly needed. So this has made the cost to be high and something needs to be done to reduce cost and make broadband accessible to all. The remaining five InfraCos were supposed to deepen broadband infrastructure in the country but they are yet to be licensed by the NCC, and even the two that had since been licensed, they have not been able to roll out services because of the challenges, which I stated earlier. So it means we have a lot of work to do in Nigeria. The Universal Service Provision Funds (USPF) is supposed to assist operators to roll out broadband infrastructure and services in rural
Apart from MainOne, we have other cable operators that have also landed their sub marine cables in Nigeria, yet broadband penetration is still as low as 21 per cent, even though there are plans to raise it to 30 per cent by 2018. What is your take on this? It is true that broadband penetration is still low in Nigeria, and if anyone had told me seven years ago when we landed the MainOne submarine cable in Nigeria that seven years after, we will still be battling with broadband penetration, I would not have believed that person, but here we are today, still struggling to boost broadband penetration, because of the challenges I enumerated earlier, despite the avalanche of broadband capacities at the sea shores of the country. The potential to do more are far much higher than we have demonstrated, but again it shows that we are capable of driving broadband penetration in the country because we have already demonstrated it, but I think we could do more if the enabling environment is there. The federal government came up with a five year broadband plan from 2013 to 2018, and government is supposed to cover some milestones each year, but there are no indices to that effect. How are MainOne and other operators engaging with government to achieve milestones in its broadband plan? Of course we are engaging with government to achieve its broadband goals, and that is the reason we are always with government to showcase Nigeria’s potentials at ITU global events. Apart from engaging with government, we are also supporting government to implement its broadband plans for Nigeria. What is the current level of investments in the submarine cable project in Nigeria, since 2010? I do not have those figures but I am sure it’s more than a billion dollars across the various submarine cable operators. MainOne set up MDXi to manage its data centre project. What has been its impact on businesses? The MDXi that was set up by MainOne to manage its data centre operations in Nigeria, is doing quite well. As businesses move online, they need reliable data centre operator to help them do online businesses without any downtime. So MDXi helps businesses to have quality data protection system and it provides reliability to customers, and it has been very impactful. It also gives businesses connectivity, not only from MainOne, but also from other submarine cable providers as well. We have seen a lot of uptake in that area and we will continue to grow our data centre business.
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Ogujiofor: 9mobile Remains Committed to Quality Service The Vice President, Consumer Sales and Services of 9mobile, Mr. Ken Ogujiofor, spoke on the resilience of the telecoms company and its commitment to quality service despite the challenging operating environment. Excerpts: The macro-economic operating environment in Nigeria has been challenging for businesses largely across all sectors, is 9mobile on track in meeting its sales targets for 2017? I want to look at it from the general perspective because 9mobile is not operating in isolation from other companies, especially, telcos in this environment. Lots of things have changed in terms of the economic landscape, and in as much as we are told we are out of recession, we know that the impact of the recession is still present. Until the inflation rate changes from what it currently is, we really cannot begin to talk about recession abating. It has been a challenging environment especially towards the end of last year. Forex issues and difficulty in accessing most of the resources you need to do business in the country and of course as 9mobile, we have had our own challenges aside the macro-economic environment. So, it has been tough and challenging; however, the business is structured to be resilient in such a way that we keep fine tuning our strategies and targets to reflect the reality on ground and position the business to meet targets. Given that background, I would say that 9mobile is well positioned to deliver on its expectations for 2017 and we believe that we will still achieve that within the time frame. The recent brand migration from Etisalat Nigeria to 9mobile in a record time, precisely under three weeks, has been applauded as unprecedented. What is the significance of this new brand identity for the company and its subscribers? We are used to the clichĂŠ that the only constant thing is change, we cannot stop change as it will keep happening, it is how we react to change, and what we are able to extract from change that makes the difference. Changing from what we used to be to 9mobile has been quite successful considering the time frame we had to achieve and deliver on that. Within a very short time, we were able to replicate what we are known for, which is to be innovative and drive professionalism to ensure quality of service within the constraints and challenges we faced as a business. We have reacted positively and not taken our eyes off customer expectations which have been the driving force behind our success. The new brand creates a new opportunity for us to serve the customer in the same superior custom that they are used to as subscribers of the 9mobile network. How far have you gone with rebranding over 400 experience centres, call and customer care centres and other touch points across the country, and what is the completion timeline? If you look at how we started the rebranding process, we had to take it on a phased approach, because there are limitations to how much you can do within a given time frame. We needed to define what was of topmost priority and focus on those, whilst scheduling others for a later date. We have concluded two of three phases as we speak; with the third phase being close to completion. At the end of phase three we would have rebranded over 400 touch points across the country. So, I can give 9mobile a high pass mark on that, given the limited resources and the cost of doing business, which now is not what it used to be. The value of funds a few years ago is no longer equivalent today due to the devaluation and current inflation rate. We have nevertheless surmounted the challenges and delivered most of our rebranding across all the touch points. It is a work in progress and we are confident that we will complete the phase three within the given time frame.
determine that because a lot of things have changed and the market environment is not the same. I will leave that to the financial gurus; by the end of the year, we will be in a position to look at our balance sheet and ascertain profitability. But as per stability, I can assure you that 9mobile is very stable and we have never gone back on our part from doing what is necessary to keep the business going. The telecom industry is highly competitive while operators continue to roll out products and services to gain competitive edge. Can you share with us what 9mobile is doing differently to stay ahead of competitors? What we have done and continue to do is our commitment to do certain things that make us a force to reckon with in the industry irrespective of the fact that we were the last to come in. The fact is that we are actually building on our successes and we are even doing much better than before irrespective of the challenges that we had. We will keep finding new ways to use technology to improve the lives of our subscribers, we will definitely enhance our network capacity and capability to enable people do more and add more value and certainly customer experience on 9mobile network will remain a key priority for the business. Our focus has not shifted from the customer and we will keep making sure they get quality service. We have kept our word on delivering professionalism in everything that we do and for me, the DNA of a business which is difficult to copy lies with the human resource. Marketing and sales strategies can be copied but it is difficult to copy someone’s DNA. That is what makes me different from you and that is what makes us different from others so we will focus on this going forward.
In terms of feedback from your frontline sales and customer care staff and agents at the call centres and experience centres, what is the level of customers’ awareness of the new brand name, 9mobile? Feedback from our customers revealed that majority love the new brand and new logo but more importantly, customers want a situation where the changes translate into more benefits for them. This is what we are currently doing and we will keep doing. In my view, and from available feedback mechanisms, the brand change has been a huge success as most of the feedback we have got is quite positive. Of course, the old name may have a higher recall amongst a very small minority because that name was around for so long. I’m sure if we check, we will find a few people who still refer to brands that changed 10 years ago by their old names regardless of a rebrand. 9mobile though, is more concerned with the brand affinity, the service delivery and customer experience. We want people to know that, what makes a brand really are the people behind the brand.
9mobile is listed as one of the top 50 brands despite coming from an era of rebranding as it is not easy to see a new brand selected as one of the top 50 brands in Nigeria. What do you think you did that made this possible? 9mobile’s nomination as one of the top 50 brands ties back to what I said earlier which is a function of what our focus is as a business. If you define your focus area which is the customer, and you define what you need to do to make sure you are creating value for the customer, it creates a different brand affinity that is difficult to wipe away. Our innovative way of doing things, whether in terms of product development or service delivery, has taken us to a level of recognition that surpasses brands that have been in existence much longer than we have. For example, if you take a look at what happens in the multimedia environment and what happens with data, you will see that 9mobile has strived to remain top notch. Above all, once you are able to achieve a high level of confidence with your subscribers and stakeholders, the rest is almost a given. I believe these qualities are some of the things that have earned us recognition as one of the top 50 brands in Nigeria. Our focus is on how we can remain in the top 50 brands and even push further because I am sure there will be a story of one of the top 10 brands in Nigeria and we want to be there.
The Governor of the Central Bank of Nigeria recently disclosed that 9mobile remained financially stable throughout the period of turbulence that led to the brand identity change. Going by figures and returns from sales, is 9mobile really financially stable and profitable? With respect to stability, yes 9mobile is very stable and with respect to profitability, we have to wait till the end of 2017 financial year to
What are the structures being put in place to prepare the company for new investors? We are not deviating from the key focus of trying to deliver on the day-to-day efficiency of the business and making sure that this business remains sustainable and profitable. This is what we as the management team will be doing more of; remain innovative, keep adding value, remain efficient, remain profitable.
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Earlier in the year, 9mobile hosted its channels partners and some decisions were reached. Have any of those decisions been altered following recent developments including the brand migration? Decisions reached with channel partners are binding irrespective of whether the brand is changing, it does not affect agreements or commitments that has been reached with the channel partners. However, as the brand is changing, the market environment is also changing. Business is dynamic, so we equally need to redefine touch points and the expectations of our channel partners to be able to meet them and ensure that what they expect from us is delivered in a timely manner. We always refer to them as our partners and beyond any previous engagements, we need to engage them even more with the brand change to reassure them that we will continue to play our part. New commitments may come in because the business is changing and I believe our channel partners are very happy with the way we have managed the situation so far. There were concerns about the channel partners and distributors incurring losses because of their large stocks of merchandise such as SIM cards, recharge cards and MiFi which bear the old brand identity, Etisalat. How has that situation been managed? There was no acrimony between the old brand and the new brand during the disengagement. It was a mutually agreed pattern of disengagement. Everything was considered and timelines agreed to phase out brand collaterals already in the trade. So, the fact that some merchandise still bear the old brand name does not expose any partner to any
financial risk or loss as this scenario was already accommodated in the discussions with our former partners.
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Global Accelerex Introduces Full-service PoS Payment Device Stories by Emma Okonji Global Accelerex, a Central Bank of Nigeria (CBN) licensed and fully certified Payment Terminal Service Provider (PTSP), has launched Nexgo G2, an innovative point of sale (PoS) terminal into the electronic payment ecosystem. The new electronic payment system combines portability with efficiency, durability and high operational speed. While unveiling the product at the just concluded PoS Innovative Summit organised by the company in Lagos, its Managing Director, Mr. Tunde Ogungbade, revealed that NexgoG2 is a convenient device, engineered for mobility and very affordable, in comparison with the complexities of an mPOS. It is packed with excellent features that cater to the needs of a broader range of merchants and segments, with the ability to print receipts on the go. “At a cost structure lower than an mPos, it is almost amazing why any merchant would want to fiddle with two devices other than one,� he added. Presenting the device to representatives of money deposit banks at the summit, the Chief Operating Officer of the company, Mr. Kayode Ariyo, disclosed that the G2 comes with NFC capabilities and is fully certified for PCI 4x, EMV, PBOC, Master card
PayPass and Visa PayWave. “The G2 offers a rich high resolution 2.4 Inch colour display and can conveniently fit into a merchant’s pocket, making it an excellent choice for various payment scenarios such as Internal revenue collections, retail payments, bill/ utility payments, distributor/ field sales as well as agent banking,� Ariyo said. The NEXGO G2 is versatile and allows a wide variety of customized applications for different sectors. For churches, the device can be customised with easy menu for collection of tithes, offerings, building funds, among others. For fuel stations, NEXGO G2 has the capability to fuel pump integration for both manned and unmanned fuel pumps, stock monitoring and inventory management. For schools, menus can be incorporated for easy payment for uniforms, books, fees and other academic expenses. The device is also enabled for account opening, loyalty schemes for select account holders and closed loop schemes for high value merchants. Since it came into operation, Global Accelerex has constantly strived to give customers the best possible point of sale experience. Apart from its latest value addition, it has pioneered other integrated products and services tailored to fit the unique needs of its ever-growing clientele.
UNN, Crestsage Commission Lion Laptop Assembly Complex Nigeria’s first indigenous university laptop assembly complex has been inaugurated at the University of Nigeria Nsukka (UNN) campus. The complex was launched during the university’s recent Founders’ Day by the trio of Sultan of Sokoto, Governor Ifeanyi Ugwuanyi of Enugu State and his Delta State counterpart, Senator Ifeanyi Okowa. The complex, which has the capacity to produce 100,000 laptops a year, was delivered by Crestsage Limited, a Lagosbased indigenous technology company under a management arrangement with Benefitting Our Community (BOC) Innovations Limited. In 2015, the Vice Chancellor of UNN, Prof Benjamin Chukwuma Ozumba initiated the one laptop per student initiative in his bid to ensure 21st century compliant learning for the university students. The initiative was, however, threatened by the recent high foreign exchange rates hence the vision of the production project. The CEO of Crestsage, Charles Emembolu, who is also an alumnus of the university, explained that the Lion laptop project would deliver local content in the billion-naira industry by value substitution of components with locally available materials and labour. Emembolu and some other University Alumni delivered
the Roar Nigeria business incubator and technology hub at University of Nigeria in December 2016. The Lion laptops meet the needs of the Nigerian student matching quality with affordable cost and capacity to produce bespoke specification for different school and government initiative across the country. Speaking at the event, Emembolu confirmed that the complex would employ about 500 people when producing at full capacity. He also affirmed that the complex would offer an oncampus manufacturing and learning environment for the university community, students and researchers. The ultra-modern complex will serve as an avenue to empower the youth with much needed applied technology skills to take leadership role in Nigeria’s economic emancipation. The Vice Chancellor called on the relevant government, private, technology and local content bodies to support the initiative in line with the need for industrialisation and youth empowerment. He noted that Nigeria’s youthful population is an asset that needs to be prepared for a prosperous future of Africa and the world. The university don also noted that the initiative was in line with the vision of the founding fathers, ‘to restore the dignity of man.’
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VDT Pledges Commitment to Customer Satisfaction Having grown its operations from five to 108 locations in the last 16 years of offering services to its customers, VDT Communications has promised to offer more quality services to its growing customer base, in order to increase customers’ satisfaction, while addressing their business needs. The Managing Director/ Chief Executive Officer of VDT Communications, Mr. Biodun Omoniyi, who pledged the commitment at the 2017 Customers’ Forum organised by VDT in Lagos recently, said the recent ISO 9001:2015 certification that was archived by the company, underscores the competence and readiness of VDT communications to serve its customers even much better. The ISO 9001:2015 certification from BSCIC is a globally rec-
ognised certification on quality management, and the latest in the series of ISO certifications. Speaking on the certification, Omoniyi said although it was rigorous attaining it, the certification was a proof of quality experience and solutions, which VDT has to offer to its customers. “The ISO 9001:2015 certification from BSCIC, will spur us to serve our customers better. Before now, we offer 98.8 per cent uptime quality service to our customers, but with the recent certification, we have upgraded our service offerings to 100 per cent uptime, at additional cost for customers who wish to enjoy 100 per cent uptime continuous quality service, without downtime,� Omoniyi said. In order to serve its customers better said
that VDT has introduced Wi Fi hotspots service around bank premises, a move he said, would allow bank customers have access to internet anytime they are within the bank premises. The latest of its solution, according to Omoniyi, is the cloud solution, which the company has added to its bouquet of products, designed to reduce customers’ cost of doing business, as well as allow customers to collaborate with other customers and clients, when they are on the cloud platform. He advised customers to take advantage of the innovative services that are backed by latest technologies, which VDT offers to customers. Customers, who have remained with VDT for several years, gave testimonies of the kind of quality service they
have enjoyed with VDT, and commended it for attaining the recent ISO certification, which is a proof of quality management. Some of the customers however raised some complaints about some aspects of VDT services and called on the company to improve on them. He thanked customers who have been with the company for several years and promised to improve on grey areas raised by some customers. In his goodwill message, the President of the Association of Telecoms Companies of Nigeria (ATCON), Mr. Olusola Teniola, commended VDT for its growth trajectory over the years, in servicing banks and telecommunications companies. Highlight of the event, was the presentation of gift items to customers, through raffle draw.
RELAUNCH OF PEARS BABAY PRODUCTS
L-R: Research and Development Manager, Personal Care, Unilever Nigeria, Gideon Opitoke; Chairman, National Association of Nigerian Nurses and Midwives, Lagos Chapter, Comrade Olurotimi Awojide; Category Manager, Skin Care, Unilever Nigeria, Adetoun Adegbite and representative of the Medical Director, Amuwo-OdoďŹ n Maternal and Child Centre, Dr. Taiwo Adeiyi, at the relaunch of Pears baby range of care products in Lagos... recently
PwC Media Workshop Harps on Samsung Launches Galaxy Note Capacity Building 8 in Nigeria The need to build capacity in journalism was the focus of this year’s panel session, during the just concluded one day capability enhancement workshop for Journalists, organised by leading professional services firm, PwC Nigeria. The workshop, which held in Lagos, had as participants, journalists across both traditional and new media platforms. It featured insightful presentations on various topics by subject matter specialists with the aim of building the capacity of journalists and enhancing their ability to execute their duties effectively while also better positioning themselves to take advantage of future opportunities. The annual workshop, which is now in its fourth year with over 200 journalists benefitting from the training, is a major component of PwC’s corporate responsibility strategy. It was instituted in recognition of the very important role of the media in society and in particular, the role that the media in Nigeria has and continues to play in informing and educating the public. In his opening remarks,
Country Senior Partner, PwC Nigeria, Mr. Uyi Akapata, said: “Our support for the media through this workshop and the media excellence award is in line with our purpose which is to build trust in society and solve important problems. It is a demonstration of our strong belief that for the Nigerian people to enjoy good governance, the media must perform its role optimally and professionally and this is reflected in the quality of reporting, in the capacity of individual journalists to carry out research and investigations, in the independence of editorial judgments, and in their ability to use technology as an enabler.� The panel session focused its discussions featured :Publisher BusinessDay, Frank Aigbogun; Publisher CableNG, Simon Kolawole, and Wole Famurewa of CNBC Nigeria, who were the panelists at the session, focused more on the need for media owners to consider capacity building among journalists in order to fit into the global trend of data journalism in new reportage.
The Samsung’s latest flagship smartphone, the Galaxy Note 8, has been launched in Nigeria and now available in the Nigerian market. The Note 8, which was launched in Lagos last week, takes cues from Samsung’s Note and Galaxy S lines, while boasting even more exciting features making the smartphone a stunning device. According to Samsung, customers who pre-registered would get a free fast-charging battery pack and a free back cover. Made with Corning Gorilla Glass 5.0, the new smartphone has a 6.3-inch QHD screen, the largest screen on a Galaxy Note phone, a dual camera, two 12-megapixel cameras on the back – a dual pixel primary wide-angel sensor with f/1.7 aperture and OIS, and a secondary telephoto lens with f/1.4 aperture and OIS. The smartphone features the company’s signature Infinity Display, giving the screen more surface area for use with the S Pen Director of Information, Communication and Technology for Samsung Electronics West Africa, Mr. Emmanouil Revmatas, said “The infinity
display is a game changer for Note users because where others see more screen, users see more space to do what they love and get things done.� Director of Mobile for Samsung Electronics West Africa, Mr. Olumide Ojo, said: “The Galaxy Note 8 has the biggest screen ever on a Note device, yet its narrow body makes it comfortable to hold in one hand. With the Super AMOLED technology, combined with a resolution of 2,960 x 1,440, all the typical characteristics featured in previous Samsung phones such as vibrant colors, high contrast, and inky dark blacks are incredibly sharp. “The Note 8’s display is absolutely gorgeous with a screen fantastic for all kinds of use such as watching YouTube videos, playing games, casual web browsing, and boosting productivity.� Built with 6GB RAM, a 10nm processor, and 64GB memory space (expandable up to 256GB), the Galaxy Note 8 offers users more flexibility for internet browsing, video streaming, playing games, and multitasking. Importantly, the device is also water and dust resistant (IP68).
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Anti-Competition Law to the Rescue As more companies continue to fall victims to anti-competitive tactics, Raheem Akingbolu urges the National Assembly to fast track the passage of the Anti-competition Bill to check unfair practices In a capitalist economy, the driving motivation for participation is profit. So, investors in a capitalist economy have only one goal, which is to make profit. As a result of lack of check and balances due to non-existence of anti-competition law in Nigeria, companies make profit at whatever cost, they don’t care whose ox is gored. According to the Chief Executive Officer of Brand I, a consumer based research and intelligence company that recently unveiled Consumer Halla, as a portal for provision of relief to consumers, Mr. Tunde Sowofora, the role of government in a capitalist economy is to put structures in place to ensure some level of orderliness and compliance. He said: “Some business advantages are questionable, they are not just fair and the government has a role to play in a free economy to balance the market in such a way that it protects consumer rights. In today’s market it is sad that some organisation infiltrate the market with substandard products and consumers fall victim without any strong law put in place through which they can seek redress. Yes, we all talk about consumer right, the question is what are the legal structures put in place for consumers to pursue their cases to the logical conclusion when those rights are infringed upon,’’ Speaking to THISDAY on anti-competition law, Fadare Adekanmi, a market analyst, said in a market when government regulates a sector, the same government is expected to have put checks and balances within that sector to prevent investors, stakeholders or other players in that sector from taking undue advantage of whatever weaknesses or vulnerability there might be in the market place. “That is why one finds that in free economies that are strong and well-coordinated, where people are allowed to play as they want; there are structures that set limits as to how far you can go. That’s where Competition Bill comes in,’’ Adekanmi said. Speaking on the advantage such policy conferred on brand owners and government, Adekanmi stated that the policy is to prevent investors or players in the market from taking undue advantage of that market to benefit themselves alone. “Government has come to realise that when one person owns too much of the market, it stifles growth and other businesses cannot thrive within that same sector; the monopolist takes control of everything and dictates what happens. If he sneezes, everybody catches a cold. The whole sector is dependent on one business or one player’s activity or action. That frustrates smaller players from coming into the market place. ‘’ And when those players don’t come into the marketplace, you get a distorted perception of what that market really is. You don’t get to understand how that market can balance because there is no competition. Because nobody is competing with him, he can decide that he wants to make 40 per cent profit and he sets the price to achieve that. And since people don’t have a choice, he is the main guy there. The other guys now take a cue from him because they are trying to survive,’’ Stanbic IBTC vs Infinity Snacks Though operating in different sectors, Stanbic IBTC Bank Plc and Infinity Snacks and Beverages Limited are currently entangled in bloodless war over what the latter considered as breach of contract on the part of the former. According to THISDAY investigation, Stanbic IBTC is a financial partner of Infinity Snacks and Beverages Limited, and their relationship was smooth until 2016, when it turned sour following the untidy manner in which the bank handled a loan facility of N864, 420,000, the cereals manufacturing company got from the Bank of Industry(BoI). Infinity Snacks, the manufacturers of Infinity Corn Flakes and Magic Crunch also accused the bank of supporting one of its competitors –Multipro Enterprises Limited, who are franchisees of Kellogs Breakfast Cereals in Nigeria, to access similar facility from
the same BoI. As a result of the roles the bank played in frustrating the company, Infinity Snacks and Beverages Limited, had last year through its lawyer, Olumide Sofowora Esq, a Senior Advocate of Nigeria approached the High Court of Lagos State for redress. In a statement of claim obtained by THISDAY, the Ijebu Ode, Ogun State based manufacturing company averred that sometime in July 2014, it applied for a loan for its factory expansion from BoI and it received an initial approval for the sum of N934, 029,835 on 19th August 2014. The company further averred that since one of the conditions for the grant of the facility was the provision of a Bank Guarantee, it immediately notified Stanbic IBTC of the initial approval by email dated August 19, 2014 and requested the bank to start processing the Bank Guarantee. The bank, had in its reply by an email on the same date, was said to have promised to expedite action and ensure that the document was available to the company soonest. By October 26, 2015, when nothing was heard, the company sent another email to the bank, requesting if the bank guarantee would be provided within 48 hours since BoI has communicated its decision to cancel the facility if the bank guarantee was not provided within the said period. Stanbic IBTC was said to have appologised through an email same day and indicated that it would meet the deadline, having reached the approval stage. However, it was not provided until December 1, 2015. According the company, despite the abnormalities and the fact that the guarantee did not comply with the format earlier provided by BoI, a sum of N864,420,000:00, was eventually disbursed after necessary correction were made, to the bank’s account 9th of May, 2016, but the company was not notified of the receipt of the funds. It was when BOI informed the company of the disbursement of the funds on 17th May, 2016 that the bank in turn promptly confirmed the receipt of the fund. According to the company, they wondered how such amount would hit the account of the bank and it would not be aware of the receipt. However, the company, through its lawyer, further stated that instead of helping it utilised the money for the importation of machinery for its factory expansion, Stanbic IBTC was said to have continued putting stumbling blocks along the way by tying the said BoI
to its loan portfolio granted to Infinity Snacks and Beverages Ltd. After series of meetings, the company had on June 20, 2016 and June 22, 2016, sent request to the bank to bid for foreign exchange for the purchase of some of the needed machinery for its expansion. The bank was said not to have initially replied and when it did, after persistent requests, it said there was no foreign exchange supply in the market. Infinity Snacks became bothered because of the possibility of BoI recalling the fund. Meanwhile, while this was going on, the company stated that it had started paying interest to BoI. At the end, the company discovered that the bank’s promises were all a ploy to frustrate it from the BoI facility because apart from bidding foreign exchange for some of its other customers, who applied for foreign exchange during the same period, Stanbic IBTC was in fact supporting one of Infinity Snacks’ competitor –Multipro Enterprise Ltd. who are the franchisee of Kellogs Breakfast Cereals in Nigeria and it turned out that the bank actually applied for the same BOI facility as the one granted to Infinity Snacks on behalf of Multipro. The company also claimed that the bank also bided for and the procured foreign exchange for two other companies who also got the BOI loan at the same period the company did. Reactions Since the issue got to the public place, not a few analysts have commented and blame government for allowing such to happen in the market without any law in place to checkmate such abnormalities. Aside the dealings between the two corporate customers, the insinuation that the bank intentionally frustrated the first company to pave way for a competing brand, has made it attracted torrents of comments from various quarters. In an interview with THISDAY on the matter, the President of the Consumer Advocacy Foundation of Nigeria (CAFON), Sola Salako-Ajulo, said the absence of competition law creates such environment where there are no check and balances to enhance ethical dealings among business owners. ‘’The case of Stanbic vs Infinity is very worrisome because I don’t understand how a bank that supposes to act in the interest of its
customers to help their business to grow now treat them with levity. To me, it wouldn’t have been an issue much if the same bank had not turned around to help a competitor to apply for the same loan it returns from company A to BoI on behalf of company B. For God sake, Kellogs, is a foreign brand that is just looking for the way to penetrate the market, now it is being assisted to frustrate a local brand that employs Nigerians, manufacture for Nigerians at friendly price and source for raw materials locally. For a government that is calling for foreign investment and backward integration, to look away when an existing company, owned locally by Indians, is being pushed out of the market, is disturbing. I can tell you, if the company eventually goes under, it will affect a lot of Nigeria and denied them of the ir daily bread. That is why I will urge the National Assembly to rise up to the occasion and passed the anti-competition law. If the law is in already in place, I bet, the companies would have regulated themselves because they would know the consequence. To this end, I can only call on government to investigate the matter carefully and save the troubled company. From what I gathered, Kellogs had initially approached Infinity that they wanted to buy into its business but the latter declined. Now, can we say it has colluded with Stanbic IBTC to muzzle the local manufacturing company,’’ the activist said. Also speaking on the matter, Fadare said it is too early to accuse Stanbic of working with another company to frustrate Infinity. He, however, admitted that if there was competition commission in the Nigeria, such issue would have been sorted out, without even attracting court litigation. He also warned members of the public from accepting what the Infinity Snack said hook, line and sinker, arguing that company must have reneged on some existing agreement with the bank. He said: ‘’It is sad indeed because both lower and upper houses at the National Assembly have passed the anti-competition law but it is yet to be harmonized into a single bill that can be presented for presidential assent. If this is done, there will be structures in place to protect small companies from being oppressed by the big ones. With such structure, terms of relationship among business owners will be well spelt out.
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Market Outreach through Beer Festivals Raheem Akingbolu writes that maiden edition of the Nigeria Beer Festival would go a long way in redefining the relationship between alcoholic beverages and their consumers Brewers in the country, especially Nigerian Breweries, Campari and Guinness Nigeria Plc, took activation a notch higher recently when they leveraged on the platform provided by the maiden edition of Nigeria’s version of the global Beer Festival, to boost consumers’ experience about beer consumption. The event, which was held in Lagos from September 25 to October 1, 2017, was used to create maximum excitement during the week-long fiesta. It climaxed with the Independence Day Mega Concert that was used to commemorate Nigeria’s independence. For Lagos State, the nation’s commercial city that hosted the maiden edition to stimulate its economic and tourism potentials, it was a significant event, considering the huge human traffic witnessed while the festival lasted. Aside other benefits, the platform helped Lagos to showcase her uniqueness and other business opportunities. The state had collaborated with beer brewers in the country and their counterparts across the globe to create maximum excitement while the event lasted. The state also provided massive institutional support, particularly security, transport and related logistics. According to the management of One and One Event (001) Limited, the organisers and management of the festival, it was used to Beer consumers savouring their favourite drinks during the festival promote responsible drinking among drinking age (which is 18 years and above) consumers at all which is not found in others. history of ancient Egypt and Mesopotamia. its touch points, to give it a carnival atmosphere Kelvin Lee, one of the Chinese nationals said: Chemical tests of ancient pottery jars reveal from Day 1 to the last day. By the last day, “The taste of beer, the world over, is almost the that beer was produced as far back as about this was not only achieved, it turned out to same, but Heineken is different and l derive 7,000 years ago in what is today Iraq be the gathering of the largest community of utmost satisfaction from it. I am also attracted to According to findings, during the Industrial beer consumers from across the country and it because it is produced by an industry leader.� Revolution, the production of beer moved from beyond. The organisers further stated that the Andrew Ado, a Ghanaian, a consumer of Star artisanal manufacture to industrial manufacture. festival saw Nigeria enrolled into the league of Lager Beer said he likes the company’s products The finding also revealed that domestic manubeer festivals around the world, and boosted because of the value he derived for his money. facture ceased to be significant by the end of the the country’s tourism opportunities. “I believe in quality and go for things that offer 19th century. Alcohol has long been regarded General Manager of 001, Akinola Oluwaleimu, the right value for money, and these are what as a social leveler, and the act of communal revealed that the world-acclaimed Oktoberfest Nigerian Breweries stands for,� he said. drinking as a means of communication among (Beer Festival) in Munich, Germany, attracts Corporate Affairs Adviser, Nigerian Breweries, people of different ranks and status in society. more than 50,000 tourists yearly, while other Kufre Ekanem, explained that the company’s Asides, major life-cycle events such as birth, countries in Europe and America have caught involvement in the beer festival is to reinforce coming-of-age, marriage and death; important the bug. ‘’With this edition as a lunch pad, we the culture of beer as a social lubricant, which life-changes such as graduation or retirement - all can assure Nigerians that Nigeria Beer Festival brings people from diverse backgrounds to unite require ritual of endorsement and celebration will continue to be an annual carnival week in enjoyment through responsible drinking. and beer is always at the centre. of entertainment, sales and marketing and a Today, the brewing industry is a global He added that the Nigeria Beer Festival gathering of the largest community of beer provided a fitting ambience to showcase lifestyle business, consisting of several dominant mulconsumers from across the country and beyond as well as culture in a carnival atmosphere tinational companies and many thousands of with economic value for the brands and the with various beer brands connecting with smaller producers ranging from brewpubs to economy at large,’’ Oluwaleimu assured. their existing and potential consumers. This regional breweries. More than 133 billion liters Beyond advocating responsible drinking, culture touch point is in line with the view (35 billion gallons) are sold per year—producing the festival provided an ambience to showcase of social scientists that that beer is among the total billions of naira in revenue. In Africa, the fashion and lifestyle, as well as culture in a symbolic vehicles for identifying, describing, beer market has grown significantly in South carnival atmosphere with various beer brands constructing and manipulating cultural values Africa, followed by Nigeria and Angola.Today, and other alcoholic drinks in Nigeria connecting and interpersonal relationships. They classify beer is celebrated all over the world and in with their existing and potential consumers. different alcoholic beverages in terms of their some countries; it has assumed the status of a special day for celebration and enjoyment. social and cultural meanings. Activations For Campari, a global renowned premium Brand managers are always eager to leverage on bitters and classic alcoholic drink, the maiden Nigeria Beer Festival 2017 platforms that would give them opportunities edition of the Nigeria Beer Festival afforded To keep the scene active in Nigeria and to to engage their consumers. No wonder, the its promoters to give consumers opportunity further open up the economy, beer brewers in management of Nigerian Breweries, Campari to relish the vibrant hue, intense aroma and the country for the first time collaborated with and Guinness explored the platform to give their inspiring flavour of Campari in-bar cocktails their counterparts across the globe to hold a consumers fresh experience. They literally took mixed by professional mixologists. Brand maiden Nigerian Beer Festival in Lagos. activation a notch higher throughout the event. Manager Campari, Rilwan Shofunde, in his Like in Germany, where the festival has become For instance, Nigeria Breweries used the remarks about Campari’s participation at the a major tourist’s event, attracting over 50,000 platform to excite consumers with a mini brewery Beer Festival, said the brand lived up to its tourists yearly to the “oktoberfest� beer festival, instituted at the venue. Guinness branded the promise of not only providing superior quality other countries in Europe and America are catching venue with large bottles of Harp and other cocktail base, but also to create stylish yet unique the bug. The Nigeria version, according to the products from the stable while Campari used drinking experiences for consumers. organisers, saw Nigeria enrolled into the league the place to share its products with consumers ‘’It is in support of our beer-drinking culture of Beer Festivals around the World free as well as entertaining the audience with that we participated in the very first Nigeria “ Other notable countries are Czech Republic, its brand ambassador –2baba. Beer Festival, so as to encourage our fans and Canada, Durham, Columbia, Britain, Belgium, Nigerian Breweries revved up the excitement consumers to keep enjoying mixing Campari among others. “Nigeria Bear Festival will be a and fun at the event by the arrays of its leading with their preferred beer brand. This is the week-long carnival-like funfair, entertainment, brands and the display of the Star brewing process true spirit behind our ‘Campari Loves Beer’ sales and marketing event with the idea to gather at the venue of the event. The mini brewery mantra,� Shofunde said. Also speaking, the the largest community of beer consumers from (Sensor Room) was on display to showcase the brand ambassador, 2baba, otherwise called across the country and beyond with economic process of brewing Star Lager Beer from the ‘Mr. Campari’ said he was always delighted value for the brands and the economy at large,� grain to glass.This attracted participants at the to share the excitement and passion of Campari the organisers said. event who affirmed that Nigerian Breweries has drink with his fans anytime, anywhere. ‘’As the the most visible and exciting branding with its number one lover of Campari myself, I was at the Comparative study products available for exhibition and tasting. Nigeria Beer festival to support our mixologists The Germany festival commonly referred Apart from the conspicuous branding of the in showing them the true meaning of ‘Campari to as Munich Beer Festival or Oktoberfest is arena with Star, the other beer brands from the Loves Beer,� he added. famous not only because it is a carnival, but company became the toast of the teeming crowd. because it retains the integrity of Bavaria custom A group of Chinese nationals that were at At the beginning and lifestyle. People enjoy delicious food at the the Nigerian Breweries stand with the Heineken Beer is one of the oldest beverages humans festival and as well participate in series of colorful brand said they are very much passionate about have produced, dating back to at least the fifth recreational activities like horse racing, shooting, the product because of its flavour and aroma millennium BC and recorded in the written juggling and various theatrical performances.
The Nigerian festival, therefore, will henceforth serve as platform to showcase and market the various beer brands and other alcoholic drinks in Nigeria, while at the same time creating leverages for captains of industry to mingle and network. Each of participating brands has the opportunity to own particular days during the week to entertain the teeming visitors at the festival. Variety of beer brands will be available for tasting and purchase in a carnival like atmosphere. A selection of top Nigerian artistes performed daily at the festival. Also, fashion show, music concerts, fireworks display, carnival, lifestyle, barbeque, asun, beer beautified the atmosphere at the venue. It is also important to note that the festival served as umbrella for other sectors of the economy to display their products and services which attracted business networking. Beer Growth Rates Canadean survey found that more African consumers will change their home brewed drinks for commercially brewed ones over the coming years. “At the moment, homemade alcohol products still dominate the African market, but they pose a significant health risk. This is an incentive for consumers to move away from ‘home brews’ and instead turn to commercial beer,� said Baker. Protecting under-age from the beer festival According to Ekom, the festival will not allow an under-age. “In fact, there are mechanisms that will be used to check this and the event will also be used to preach responsible drinking among adults,� she said. Contribution to the economy The beer industry is a large segment of the food and beverages sub-sector. It constitutes the non-oil sector where Nigeria is leveraging on to drive her economic diversification programme. Having evolved from bottling to a diversified industry involved in the production of canned drinks and the use of tetra pack, the sector accounted for 35.9 per cent of the growth in the industrial sector, which grew in 2014 by 6.41 per cent as against 0.87 per cent in 2013. Nigerian Breweries Plc has the largest coverage, with about eight breweries located across the country and estimated yearly capacity of 13.5 million hectoliters (mn hl). Guinness operates four breweries with a total yearly capacity of 7.5mn hl by 2014. SABM has built up its capacity (by acquisition) to about 1.8mn hl, which includes Pabod Breweries in Port Harcourt, International Breweries in Ilesa and Onitsha. Experts said the beer sector is very well positioned to galvanise the economy through industrialisation. Brewery companies, whose principal activities include the production, packaging and sales of alcoholic and malt beverages, employ close to one million people.
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Somoye: After Sales Service is Critical to Our Business
The Marketing Director, Gionee Communication Equipment Company Limited, Habeeb Somoye, speaks to Raheem Akingbolu on the sophistication of Nigerian consumers and the unique selling point of the Gionee brand. Excerpts:
Can you access the contribution of Information Communication Technology(ICT) to the Nigerian economy? Seriously speaking, I will say this should be a case study of a project topic because it is huge and cannot be quantified. As I speak, the ICT sector is playing a major role in driving the economy just as it is doing same globally. It is important that any country or business that takes its growth seriously in this modern age must key to ICT. There is no short-coming. The impact of ICT in the economy of Nigeria has been on the positive side. The progression analysis has always been on upward trend. Now, where I am, I am sitting and working with the help of my phone. I can carry out bank transactions via my phone. I can communicate and also use my phone as document archive. Let’s come back to the market itself. Talk of Computer Village, do you know the millions of people that are earning their living there? Back then when computer village was still for laptop, compared to the number of people we have then. That has created employment opportunity and also improved the standard of living of people. How has Gionee led by example in this regard At Gionee, we know that if you want to survive in this industry, you don’t just provide experience; you provide solution experience. We have different models of phones and they deliver different solution to individuals and the entire economy. When it comes to security, we have a gadget that will protect anything about your phone. Early in the year, you signed up Seyi Shay as your brand ambassador. Is this the first time of having an ambassador in this market? This is the first time we would be having a brand ambassador. Before now, we have had a product face. What Seyi Shay is doing is representing the brand. The idea behind it is that we want to localise the brand. We want to let Nigerians know that this brand has come to stay. A brand that give value for money and serve as engine room of creating values to you, your household and the economy. Has there been any impact since the ambassador came on board? Yes! We have done basically what we have not seen before. If you look at our A1 series that we launched, we have the image of Seyi Shay on the pack. That’s telling people that this is our own brand; a local brand. It has helped in terms of acceptability and endorsement of the brand.
Presently, we are in 54 countries in the world, Nigerian inclusive. In particular, Gionee is strong in Asia, and Africa.
Somoye
We didn’t just do this. We picked Seyi Shay because she has the social value that we need and want to portray which has no negativity. How has it been for the Gionee brand in the Nigerian market? The brand has experienced a lot of acceptability, loyalty and affinity. I am going to use these three things to define the best way the brand has been doing. It’s not easy to see a brand getting the loyalty of Nigerians. And it is of no reason than that we promise and deliver more than we promise. Gionee in Nigeria is known for something, and it’s something good. We are known for power. And today, we are telling people that we are now known for power and selfie. We have much to that. We have done our research and consumer insight. We found out that in the market, people take selfie as another way of life. People take it as an integral part of their life. At any point they do things, they take selfie. And that tells us that selfie is taking an integral part of a phone in the future. And I think it’s smart of the brand to have taken this opportunity by producing the best of selfie phone with a very strong battery. What do you think would make an average consumer prefer Gionee to other brands? At Gionee, we have our own production plant
that help us a lot in our design and which helps us in getting what the customers want. We also have our own research and development which also help us as well to focus on the quality of production and quality assurance of everything we do. It also helps us identify the need of customers and also identify what they want to get from their needs in terms of satisfaction and experience and in turn give them value for money. We have been able to do that and it helps us in acceptability of the brand. We have different product segment that targets different sets of people subject to what you want to buy. People buy phone for gadget or fashion. Basically, customers buy phone taking a look at the battery, the RAM, size of the phone, android version of the phone, and other factors. Now, the idea is if I’m buying for gadget, I consider what type of job I’m doing. My job does not give me time to charge phone, the unique selling point for me would be the battery. But if I’m into fashion business, camera would be top of mind for me. Irrespective of what you want to use it for; we have it all in Gionee. And with the help of products series and segmentation, it has helped us to target and meet the needs of different customers in the industry. Beyond Nigeria, what other parts of the world does Gionee has presence?
Can you briefly describe the attitude of a Nigerian consumer? The attitude of an average Nigerian consumer has to do with their needs and wants. Technology wise, Nigeria is growing faster. Few years back, we were in the age of GSM and we moved to the age of 3G network. Today, what people want to get is 4G. Today, people now go for phones of bigger Mega pixel. Nigerians are highly techy and that’s why we have different reviews online that tell you the value of the phone. We introduced android version few years back in Nigeria. As of last year, we were on 6.0, but as of today, we are now on 7.0 Nougat android version. Now, Gionee doesn’t produce any phone less than Nougats. Less than two years ago, we were on 5.0 Lollipop, but because of the taste of Nigerians in terms of technology, we moved from that pretty fast. And we don’t just provide android version, we have our own inbuilt version that we call Amingo. It’s our own operating system that helps make the android version faster. It helps it take more burdens and makes it bigger to provide more experience to customers. Lack of after sales by some companies, have become a headache to many consumers. What is your brand’s offering on this? When you talk about after sales, for any brand that wants to survive in this industry in Nigeria, you need to think of the sales and after sale. The idea is people experience it and how do they continue the experience? Presently, Gionee has experience centres across Nigeria. Here in Lagos, we have two in Computer Village Ikeja. And in every state where we have Gionee, we have one. What happens to be the challenge that most brands have when it comes to after sales in importation of parts. Like I said, we don’t contract this out. We have our own plant in India which is one of the biggest in India. And when you take care of your production yourself, you would be able to control the parts and materials. So that has not been a challenge to us. And because we so much believe in our quality, we do what we call added benefit. What is obtainable in the industry is 12 months warranty. But in Gionee, what we are doing is 15 months because we are sure of what we are doing.
Natures Gentles Touch Supports Movie Rivers Partners NLNG to Boost Outdoor against Domestic Violence Business Stories by Raheem Akingbolu In line with its commitment to advancing the cause of women, Natures Gentle Touch has partnered Campire Films on its latest project, “Omoye�, a movie that addresses the social vice of domestic violence. At a press conference to announce the movie, the General Manager, Natures Gentle Touch, Chijioke Anaele remarked that “Omoye� speaks to one of the most disregarded and pressing issues in Nigeria, for which all hands must be on deck to get rid of, for a saner, healthier society. His words: “Our partnership with Campfire Films is one of the ways Natures Gentle Touch
seeks to promote the confidence and self-esteem of Nigerian women, who majorly are our target market and unfortunately, often at the receiving end of domestic violence. We are convinced that everybody will benefit from a sane and stable society. “Omoye� is one movie that will contribute in arousing public consciousness about the vice, thereby helping to shape orientation for a better Nigerian society devoid of violence�. The company is taking this corporate initiative as part of ways to continually impact the lives of its customers by connecting with them through their passion points. According to the Brand Manager, Natures Gentle Touch, Anita Anosike, in addition to powering the
movie, the company has also concluded plans on a walk against domestic violence to further project the importance of curbing the menace. “Although like every other evil, domestic violence might be tough to eradicate, we must continually raise awareness on its negative effects, not just us as individuals but also on the society at large. This is the core of this movie and that is why we are passionately supporting it as well as organising a walk to raise consciousness against domestic violence,� she quipped On the theme of the movie, the Director and Co-producer, Uche Chukwu stated that “Omoye� is a movie that connects with victims of domestic violence, especially in the ghettos.
The Rivers State Signage and Advertisement Agency (RISAA) has embarked on business tours to reach out to existing and potential clients in a bid to harness the untapped potential in the outdoor landscape and showcase business and corporate social responsibility(CSR) opportunities. Speaking during a visit to the corporate office of Nigeria Liquefied Natural Gas (NLNG), the Acting Managing Director of RISAA, Chukwudi Dimkpa said the aim of the visit was to increase awareness about the activities of the Agency, showcase available windows of advertisement, branding and sponsorship opportunities while also improving the relationship between agency and relevant
stakeholders. While acknowledging the huge investments by NLNG through CSR initiatives in community development especially in education, health and social infrastructure, Dimkpa solicited partnership with the organisation. The RISAA boss said the on-going sanitisation exercise will improve the scenic beauty of the city of Port Harcourt and its environs. He urged the Corporation to take advantage of the NEW dispensation by investing through partnership, sponsorship and branding. According to Dimkpa, street furniture such as City- gates, round-abouts, bus-shelters, buses and other innovative Out of Home Platforms are now available for branding..
The Managing Director of NLNG, represented by Mr. Tony Okonedo at the meeting, commended the efforts of RISAA in civic beatification and reiterated NLNGs’ commitment to CSR anchored on Sustainability, Stake- holding and Partnership. Okonedo further expressed his excitement about the RISAA vision and the array of products proposed that will act as fillip to enhance the city’s aesthetic . He emphasized that the corporation is one that believes strongly in giving back to its host community and pledged their readiness to work closely with the Agency and other relevant stakeholders to improve the quality of lives of Rivers State residents.
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BUSINESSWORLD
DEVELOPMENT
Building Resilience of Vulnerable Households The ongoing Boko Haram crisis in the North-east has hampered livelihoods and is significantly affecting the availability and access to food, However, Oxfam and the European Union have embarked on building resilience of vulnerable households through PRO-ACT programme, Adedayo Akinwale writes
I
t is not uncommon for Nigeria to be a signatory to international conventions, treaties and declarations. Ironically, it is also not uncommon for the federal government not to implement those conventions and declarations. This act has become a recurring decimal and makes one question the rationale behind Nigeria being a signatory to several international conventions and ratifications, if the political will to implement them is lacking. Conventions Galore Among several of these conventions is the Maputo Declaration on agriculture and food security, which was endorsed in July 2003 by African Heads of State and Government. The Declaration contained several important decisions regarding agriculture, but prominent among them was the commitment to the allocation of at least 10 per cent of national budgetary resources to agriculture and rural development policy implementation within five years. Sadly, since this declaration, Nigeria has not been able to meet up with its demand. In fact, the annual budgetary allocation to the agricultural sector has continued to dwindle ever since. Research Findings However, recent research conducted by the Food and Agriculture Organisation (FAO) on food and nutrition insecurity in Nigeria has revealed that Boko Haram insurgency continues to drive massive displacement in North-east and in the Lake Chad Basin region, leading to a dire humanitarian situation, and a risk of famine in Borno, Adamawa and Yobe states. The report said despite humanitarian assistance in the three Northern states, the food security situation remains bleak, with about 4.7 million people food insecure, of which 3.2 million people are in crisis, 1.4 million people in emergency, and 44,000 people in famine. In addition, 450,000 children are at risk of Severe Acute Malnutrition, of which over 314,500 will receive treatment in 2017. Nevertheless, the number of people facing crisis, emergency and famine conditions in North-east is expected to reach 5.2 million, including more than 50,000 people in famine. Proactive Steps To salvage the situation therefore, Oxfam Nigeria and the European Union have embarked on Pro Resilience Action (PROACT) to support food security and resilience of most vulnerable people in Kebbi and Adamawa States for the next four years. The project is being implemented by Development Exchange Centre (DEC) in Kebbi State, while the Christian Rural and Urban Development Association of Nigeria (CRUDAN) is the implementing partner in Adamawa. The project, which started in 2016 is presently being implemented in three local governments of Kebbi State which include Birnin Kebbi, Jega and Danko/Wasagu; while the same programme is also being implemented in four local governments of Adamawa state namely Mubi south, Fufore, Song, and Guyuk . It is estimated that at the end of the project, about 35,000 people of which 50 per cent will be women would have benefited through building the capacity of 700 farmer groups. The project also seeks to establish 70 farm field schools to transfer farming techniques to farmers; plant 500,000 trees to combat desertification and climate change; establish 1,400 village savings and loan groups to facilitate access to flexible financing services, as well as establish 700 cereal banks to promote community-based food reserves. Vital Objective The Project Manager, Oxfam/EU, Mr. WilliamMafwalal said the main objective of the project is to ensure that food is available to vulnerable households and to also ensure resilience in the
Madam Asenat Bonah a female farmer in Banjiram village, Adamawa state lives of those households. He noted Oxfam is working with EU to entire that vulnerable households can withstand the shock that comes as a result of natural disaster like flood and also man-made crisis like the Boko Haram crisis. He explained that the reason for choosing Adamawa and Kebbi States was as a result of the research conducted which revealed that the States were among the poorest, and also because donor organisations funding the project had been doing other programmes in the two States, stressing that the PROACT project was coming to complement the programmes. Mafwalal added that, “after the four years of the programme, we want to see a farmer that can walk into any organisation that has something to do with him to do business. We want to see a farmer that can address some of his challenges by being able to access inputs wherever they are. We want to see a farmer that will be able to feed his family.� He noted that the challenge being faced in the implementation of the project is the understanding of the farmers, saying that there was need to bring farmers up to speed about what the programme seeks to achieve. “Some of them have very limited understanding of what this project wants to provide for them. So, they look at it as a programme
which has come to provide them with inputs. “It is a challenge because it will skew them away from looking at the other aspect of the project that may make much difference than just inputs that they are able to access because from the reports we are getting. Some of them that were not able to access the inputs in the first year were so discouraged and we’re making comments that are not constructive.� Budding Partnerships Oxfam State Coordinator in Adamawa State, Mr. Patrick Igbana, said at the initial stage, partnerships were forged with policy makers, local government officials, and the traditional leaders to ensure smooth take-off of the programme. He said the communities involved in the programme were mobilised through the formation of Village Savings and Loans Association (VSLA ) groups, adding that the members of the groups are also farmers that Oxfam is working with. According to him, “the VSLA groups become our platform for intervention in the communities where we are working. We train them on leadership so that we encourage them to develop their leadership skills. We train them also on how to save their resources. “We make them understand that they have their own resources instead of looking out for
resources. Within themselves they can put together their resources and help themselves and that’s what village savings in all about. From there they can borrow to start up small scale businesses.� Igbana explained that the groups also serve as platform for interventions through which major programme activities are implemented. He noted, “We use them as a platform to train. The lead farmers, the Chairman and Secretary, all of them altogether form the community farmers field Training school committee and so this where they have been training. The lead farmers also go back to their respective groups to train their members and form their farmers groups at community level. “When we train them we also support them with inputs like we started with dry season farming by distributing fertilisers. To those who could access the fertiliser cash, we gave them cash, to those that were not able to access complete cash we gave them part credit, while others among them who would need the fertiliser but do not have money, we gave them on total credit and the good thing is that many of them have paid off their credit. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
RANDOM THOTS Costly Governance Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă“Ă? ĂžĂœĂ&#x;Ă–ĂŁ Ă‹ Ă‘Ă“Ă‹Ă˜ĂžËœ Ă?Ă?ĂšĂ?Ă?Ă“Ă‹Ă–Ă–ĂŁ ĂĄĂ’Ă?Ă˜ Ă“Ăž Ă?Ù×Ă?Ă? ÞÙ ÞÒĂ? Ă?ÓäĂ? Ă™Ă? ÞÒĂ? ĂœĂ?Ă?Ă&#x;ĂœĂœĂ?Ă˜Ăž Ă?âÚĂ?Ă˜ĂŽĂ“ĂžĂ&#x;ĂœĂ? Ă“Ă˜ Ă’Ă?Ăœ Ă‹Ă˜Ă˜Ă&#x;Ă‹Ă– ĂŒĂ&#x;ĂŽĂ‘Ă?Þ˛ ÙåĂ?Ă Ă?ĂœËœ ĂœĂ‹ĂžĂ’Ă?Ăœ ĂžĂ’Ă‹Ă˜ Ă?Ă‹ĂžĂ?ĂœĂ“Ă˜Ă‘ Ă?Ă™Ăœ ÞÒĂ? Ă—ĂŁĂœĂ“Ă‹ĂŽ Ă˜Ă?Ă?ĂŽĂ? Ă™Ă? Ă’Ă?Ăœ ͒͑͘ Ă?ÓÞÓäĂ?Ă˜Ă?Ëž Ă“Ăž Ă“Ă? Ă‹ĂŒĂ™Ă&#x;Ăž ÚË×ÚĂ?ĂœĂ“Ă˜Ă‘ ÞÒÙĂ?Ă? Ă‹Ăž ÞÒĂ? Ă’Ă?Ă–Ă—Ă? Ă™Ă? ÚÙåĂ?Ăœ Ă‹Ă?ĂœĂ™Ă?Ă? ÞÒĂ? ĂžĂ’ĂœĂ?Ă? Ă‹ĂœĂ—Ă? Ă™Ă? ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜ĂžË› ĂšĂ?Ă?Ăš Ă‹Ăž ÞÒĂ? ĂĄĂ‹ĂœĂŽĂœĂ™ĂŒĂ? Ă‹Ă–Ă–Ă™ĂĄĂ‹Ă˜Ă?Ă? Ă™Ă? Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă?Ă?Ă?Ă—ĂŒĂ–ĂŁ Ă—Ă?Ă—ĂŒĂ?ĂœĂ? Ă™Ăœ ÞÒĂ? ĂŒĂ&#x;ĂŽĂ‘Ă?Ăž Ă‹Ă–Ă–Ă™Ă?Ă‹ĂžĂ?ĂŽ Ă?Ă™Ăœ ÞËÞĂ? Ă™Ă&#x;Ă?Ă? ĂŽĂ“Ă˜Ă˜Ă?ĂœĂ? Ă“Ă? Ă?Ă˜Ă™Ă&#x;Ă‘Ă’ ÞÙ Ă?ĂšĂ&#x;Ăœ Ă‹ ĂŽĂ™Ě‹Ă™ĂœĚ‹ĂŽĂ“Ă? ĂžĂ&#x;Ă?Ă?Ă–Ă? Ă?Ă™Ăœ ÞÒĂ?Ă?Ă? ÚÙĂ?Ă“ĂžĂ“Ă™Ă˜Ă?Ëœ ĂĄĂ’Ă“Ă–Ă? Ă—Ă“Ă–Ă–Ă“Ă™Ă˜Ă? Ă™Ă? Ă‹Ă Ă?ĂœĂ‹Ă‘Ă? Ă?ÓÞÓäĂ?Ă˜Ă? Ă‘Ă™ ÞÙ ĂŒĂ?ĂŽ Ă’Ă&#x;Ă˜Ă‘ĂœĂŁ Ă?Ă‹Ă?Ă’ Ă˜Ă“Ă‘Ă’ĂžË›
ĂœĂ™Ă˜Ă“Ă?Ă‹Ă–Ă–ĂŁËœ Ă“Ă˜ Ă‹ĂŽĂ Ă‹Ă˜Ă?Ă?ĂŽ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂ“Ă?Ă? Ă–Ă“Ă•Ă? Ă’Ă? Ă?ÞÒĂ?ĂœĂ–Ă‹Ă˜ĂŽĂ?Ëœ Ă‹ Ă?Ă™Ă&#x;Ă˜ĂžĂœĂŁ Ă™Ă? Ă‹ĂœĂ™Ă&#x;Ă˜ĂŽ ͒͘ Ă—Ă“Ă–Ă–Ă“Ă™Ă˜ Ă?ÓÞÓäĂ?Ă˜Ă?Ëœ Ă?Ă™Ă?Ăž Ă™Ă? ÑÙà Ă?ĂœĂ˜Ă‹Ă˜Ă?Ă?
Ă“Ă? ĂœĂ‹ĂŽĂ“Ă?Ă‹Ă–Ă–ĂŁ ĂŽĂ“ĘĽĂ?ĂœĂ?Ă˜ĂžË› Ă?Ă?Ă™ĂœĂŽĂ“Ă˜Ă‘ ÞÙ ĂœĂ?ĂšĂ™ĂœĂžĂ?Ëœ ĂœĂ“Ă—Ă? Ă“Ă˜Ă“Ă?ĂžĂ?Ăœ Ă™Ă? Ă?ÞÒĂ?ĂœĂ–Ă‹Ă˜ĂŽĂ?Ëœ Ă‹ĂœĂ• Ă&#x;ĘľĂ?Ëœ ĂŒĂ™ĂœĂ˜ Ă“Ă˜ ͚͒͗͘˜ ĂĄĂ’Ă™ ÞÙÙÕ Ă™Ă?ʨĂ?Ă? Ă“Ă˜ Ùà Ă?Ă—ĂŒĂ?Ăœ Í“Í‘Í’Í“Ëœ ĂœĂ“ĂŽĂ?Ă? Ă‹ ĂŒĂ“Ă?ĂŁĂ?Ă–Ă? ÞÙ ĂĄĂ™ĂœĂ• ĂŽĂ‹Ă“Ă–ĂŁ Ă‹Ă˜ĂŽ Ă“Ă? Ă Ă?ĂœĂŁ ĂšĂœĂ&#x;ĂŽĂ?Ă˜Ăž Ă“Ă˜ ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ă?âÚĂ?Ă˜ĂŽĂ“ĂžĂ&#x;ĂœĂ?Ă?Ë› Ă? Ă?Ă Ă?Ă˜ ĂœĂ?Ă?Ă?Ă˜ĂžĂ–ĂŁ Ă‘Ă‹Ă Ă? Ă‹ ĂŒĂ“Ă?ĂŁĂ?Ă–Ă? Ă‹Ă? Ă‹ Ă‘Ă“Ę° ÞÙ ÞÒĂ? Ă˜ĂŽĂ“Ă‹Ă˜ ĂœĂ“Ă—Ă? Ă“Ă˜Ă“Ă?ĂžĂ?ĂœËœ Ă‹ĂœĂ?Ă˜ĂŽĂœĂ‹ Ă™ĂŽĂ“Ëœ ĂĄĂ’Ă™ Ă‹Ă–Ă?Ă™ ÞÙÙÕ ÙʊĂ?Ă? Ă“Ă˜ Í“Í‘Í’Í•Ë› Ă’Ă? ĂœĂ™Ă?Ă? Ù×Ă?Ă?ÞÓĂ? ĂœĂ™ĂŽĂ&#x;Ă?Ăž ĂšĂ?Ăœ Ă?ËÚÓÞË Ă“Ă˜ Ă?ÞÒĂ?ĂœĂ–Ă‹Ă˜ĂŽĂ? ĂĄĂ‹Ă? Ă–Ă‹Ă?Ăž ĂœĂ?Ă?Ă™ĂœĂŽĂ?ĂŽ Ă‹Ăž ĚżÍ–Í“ËœÍ’Í’Í’Ë›Í•Í˜ Ă“Ă˜ Í“Í‘Í’Í—Ëœ ĂĄĂ’Ă“Ă?Ă’ Ă“Ă? Ă?Ă›Ă&#x;Ă“Ă Ă‹Ă–Ă?Ă˜Ăž ÞÙ Í•Í’Í” ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? ÞÒĂ? ĂĄĂ™ĂœĂ–ĂŽËŞĂ? Ă‹Ă Ă?ĂœĂ‹Ă‘Ă?Ëž ĂĄĂ’Ă“Ă–Ă? ÞÒĂ? ĂšĂ?Ăœ Ă?ËÚÓÞË Ă“Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹ ĂĄĂ‹Ă? Ă‹Ă–Ă?Ă™ Ă–Ă‹Ă?Ăž ĂœĂ?Ă?Ă™ĂœĂŽĂ?ĂŽ Ă‹Ăž ĚżÍ–ËœÍ•Í”Í™Ë›ÍšÍ‘ Ă“Ă˜ Í“Í‘Í’Í—Ëœ ĂĄĂ’Ă“Ă?Ă’ Ă“Ă? Ă?Ă›Ă&#x;Ă“Ă Ă‹Ă–Ă?Ă˜Ăž ÞÙ ͔͒ ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž
Ă™Ă? ÞÒĂ? ĂĄĂ™ĂœĂ–ĂŽËŞĂ? Ă‹Ă Ă?ĂœĂ‹Ă‘Ă?Ë› ĂŁĂ?Ă–Ă“Ă˜Ă‘ ÞÙ ĂĄĂ™ĂœĂ• Ă‹Ă—Ă™Ă˜Ă‘ ÞÙÚ ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž ÙʊĂ?Ă“Ă‹Ă–Ă? Ă“Ă? Ă‹Ă–Ă?Ă™ Ă˜Ă™Ăž Ă?ĂžĂœĂ‹Ă˜Ă‘Ă? Ă“Ă˜ Ă?Ă˜Ă?Ă Ă‹Ëœ åÓÞäĂ?ĂœĂ–Ă‹Ă˜ĂŽËœ Ă‹Ă? Ă™ĂŒĂ?Ă?ĂœĂ Ă?ĂŽ ĂŒĂŁ ÞÒÓĂ? ĂœĂ?ĂšĂ™ĂœĂžĂ?Ăœ ĂŽĂ&#x;ĂœĂ“Ă˜Ă‘ Ă‹ ĂžĂœĂ‹Ă“Ă˜Ă“Ă˜Ă‘ Ă?Ă?Ă—Ă“Ă˜Ă‹Ăœ Ă“Ă˜ ĂšĂœĂ“Ă– ͓͔͑͒˛ Ă&#x;Ăž Ă“Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹Ëœ ÞÒĂ? ĂŒĂ“Ă‘Ă‘Ă?Ăœ ÞÒĂ? Ă?Ă˜ĂžĂ™Ă&#x;ĂœĂ‹Ă‘Ă? Ă?Ă&#x;ĂœĂœĂ™Ă&#x;Ă˜ĂŽĂ“Ă˜Ă‘ ÞÙÚ ÑÙà Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž ÙʊĂ?Ă“Ă‹Ă–Ă?Ëœ ÞÒĂ? Ă‘ĂœĂ?Ă‹ĂžĂ?Ăœ ÞÒĂ? ĂœĂ?Ă?ĂšĂ?Ă?Ăž Ă?ĂœĂ™Ă— Ă?Ă‹ĂĄĂ˜Ă“Ă˜Ă‘ Ă?ÓÞÓäĂ?Ă˜Ă?Ë›
Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹Ëœ ÞÒĂ? Ă“Ă˜Ă?Ù×Ă? Ă‘Ă‹Ăš Ă“Ă? Ă?Ă™ ĂĄĂ“ĂŽĂ? ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÒĂ? ĂœĂ“Ă?Ă’ Ă‹Ă˜ĂŽ ĂšĂ™Ă™ĂœËœ åÓÞÒ Ă‘ĂœĂ™ĂĄĂ“Ă˜Ă‘ Ă‹Ă˜Ă‘Ă?Ăœ Ă?ĂœĂ™Ă— ÞÒĂ? ÖÙåĂ?Ă?Ăž ĂœĂ&#x;Ă˜Ă‘Ă? Ă™Ă? ÞÒĂ? ÑÙà Ă?ĂœĂ˜Ă‹Ă˜Ă?Ă? Ă–Ă‹ĂŽĂŽĂ?ĂœË› ÙÎ Ă?Ă™ĂœĂŒĂ“ĂŽ ÞÒËÞ ÞÒÓĂ? Ă‹Ă˜Ă‘Ă?Ăœ ĂžĂ&#x;ĂœĂ˜Ă? Ă“Ă˜ĂžĂ™ Ă™Ă&#x;ĂžĂœĂ“Ă‘Ă’Ăž ĂœĂ?ĂŒĂ?Ă–Ă–Ă“Ă™Ă˜Ë›Ë›Ë›Ă?Ă?Ă‹ĂœĂŁ ÞÒÙĂ&#x;Ă‘Ă’Ăž -Abimbola Akosile
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T H I S D AY Ëž Ëœ ÍŻÍˇËœ Í°ÍŽÍŻÍľ
Ëš
Chasing corruption out of the system
Is this Administration Still Fighting Corruption? The present administration, led by PMB, swept to power in April 2015 on a wave of popularity, and its main appeal then was its pledge to kick out corruption, which is Nigeria’s major hindrance to development. Now after two years in power, many analysts believe the federal government has not done enough to purge its top ranks of high-profile corrupt practices and corruption allegations, with recent leaked memos and top committee investigations. To you, is the administration still fulfilling its pledge to check corruption? If not, what should be done? THE FEEDBACK
Abimbola Akosile * No. This administration has obviously kept a blind eye on corruption e.t.c even as cancerous high profile cases of deadly corruption rot driving Nigeria underground are being unearthed daily by patriotic whistleblowers, glaring evidences, and self-confessions e.t.c are ignored or selected. External borrowing is soaring dangerously and Nigerians are apprehensive of where this anti-graft war is actually heading now. Chasing rainbows again? The news media is awash with numerous accusations and counter accusations of corrupt crimes nationwide. Yet only the poor masses face jungle justice. The best time to act is now. - Miss Apeji Patience Eneyeme, Badagry, Lagos State * Corruption can come in the form of bribery, embezzlement, fraud, blackmail; can be smallscale involving a sector of a company, or large-scale through government e.t.c. Yes, the present administration led by PMB have succeeded in fulfilling its pledges, e.g. enforcement on use of Bank Verification Number (BVN) and introduction of a unified Treasury Single Account (TSA) for all government revenue and other incomes with the Central Bank of Nigeria (CBN). But government needs to empower the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and other related offences Commission (ICPC) and other relevant institutions to able to fight and prosecute offenders, ensure implementation of the National Economic Empowerment Development Strategy (NEEDS), and adopt the culture of good governance and accountability, transparency in their discharge of duties, timely payment of salaries, improvement on social welfare schemes, establishment of anti-corruption courts. Relevant laws that will help in fighting and enforcement on corruption should also be passed. - Mr. Michael Adedotun Oke, Founder Michael Adedotun Oke Foundation, Abuja * The words and body language contrast. A man is bound by his words, so should a mandate be too. - Ms Nkeiruka Abanna, Lagos * They are not; long ago, the President was advised to change his ministers, and as
Yes, it is:
3
No, it is not:
4
Others:
4
Radical tip:
Block leakages!
Total no of respondents:
11
Male:
9
Female:
2
Highest location:
Lagos (4)
always, he takes his time. How can he fight corruption when his GMD awarded contracts worth twenty-five million dollars without due process? Yet he is seeking approval for a foreign loan? Is it not for two million dollars that Dasuki has been placed under detention since? - Mr. Dogo Stephen, Kaduna
* This administration has stopped fighting corruption since the time it rejected the call of the Rivers State people not to appoint Amaechi as a minister. There is also the acceptance of allegedly corrupt former governors and appointees of the former ruling party into the current one. What is the fate of the former SGF, the Acting Chairman of EFCC and many others shielded by PMB? This administration has never fought corruption and neither is it still fighting. They should expose the corrupt elements under their cover. - Hon. Babale Maiungwa, U/Romi, Kaduna * Yes they are, but we the citizens and civil society organisations must promote massive awareness of the evils of corruption at the grassroots. - Mr. Feyisetan Akeeb Kareem, OgwashiUkwu, Delta State
* Yes, PMB is doing great. The Economic and Financial Crimes Commission (EFCC) and the Independent Corrupt Practices Commission (ICPC) e.t.c. are on their toes, tracking down, prosecuting numerous high profile criminals, corrupt captains of industries, questionable moneybags, collaborators, crooked foreigners e.t.c are facing justice now irrespective of whose ox is gored. Corruption cases are uncovered daily with focus on judges, police, army, prominent politicians, treasury looters, kidnappers, smugglers, ghost workers, and oil bunkerers e.t.c. We need patience and patriotism now. God bless Nigeria. - Mr. Apeji Onesi. Lagos State
* There is a weakness that this administration has that is being exploited by a few selfish people. The president himself is not corrupt but those around him know that he has a weakness in the area of fighting corruption from within. The military mentality that the buck stops at his table prevents the prosecution of those around him that have been exposed. In other words, if anyone in my administration is prosecuted for corruption, it would give the impression that my administration is also corrupt. Unfortunately even the pending court cases have gradually stalled. The area where corruption is relatively being fought in Nigeria is the area of blocking of leakages. Due to the type of system we have in Nigeria, blocking leakages appears to be the most effective approach against the menace of corruption. - Mr. Buga Dunj, Jos, Plateau State
* In some respects, yes; in others, a capital NO. The body language of the present administration doesn’t inspire much confidence - e.g. the matter of the suspended Secretary-General of the Federation (SGF). Why does it seem the administration is reluctant to implement the report indicting him? However, I think the TSA account phenomenon, for instance, is the sort of medicine we need as a people; caveat - it should be administered thoroughly without fear or favour. - Mr. E. Iheanyi Chukwudi, Brainchild Academic Resources, Apo, Abuja
* Initially, the present administration made a great show of trying to fight corruption. But as we have found time and again, corruption in Nigeria has a peculiar way of fighting back. And now those corrupt members of the now opposition party have sought refuge in the current ruling administration, both to escape prosecution and to spread the corruption virus. Now, PMB appears to have lost the plot, with his infuriating reluctance to decide on the pending SGF and now NNPC GMD cases. Despite contrary claims by the EFCC, the fight against corruption has stalled for
a long time now. - Mr. Olumuyiwa Olorunsomo, Lagos State * What l know is that one day this government will leave office and the next government will probe them for corruption, if there is any. We must encourage this government for their courage to recover our looted funds from past governments. For PMB not to have taken any action against those corrupted people in his government it is a gradual process; he will shock us. Let us keep our fingers crossed and watch. I believe this government is trying their best to ensure corruption is curtailed in governance, so we can move forward. - Mr. Gordon Chika Nnorom, Public Commentator, Umukabia, Abia State
Next Week: Can Cost of Governance be Reduced Further? Ă‹Ă˜ĂŁ Ă?ÓÞÓäĂ?Ă˜Ă? ĂŒĂ?Ă–Ă“Ă?Ă Ă? ÞÒĂ? ÑÙà Ă?ĂœĂ˜Ă‹Ă˜Ă?Ă? Ă?ĂžĂœĂ&#x;Ă?ĂžĂ&#x;ĂœĂ? Ă“Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹ Ă“Ă? ÞÙÚ̋ÒĂ?Ă‹Ă ĂŁËœ åÓÞÒ ÞÒĂ? ĂŒĂ&#x;Ă–Ă• Ă™Ă? ÞÒĂ? Ă?×ÙÖĂ&#x;Ă—Ă?Ă˜ĂžĂ? Ă‘Ă™Ă“Ă˜Ă‘ ÞÙ ÞÒĂ? ÞÙÚ̋ Ă—Ă™Ă?Ăž ʨà Ă? ĂšĂ?Ăœ Ă?Ă?Ă˜Ăž Ă™Ă? ÞÒĂ? ĂšĂ?ĂœĂ?Ă™Ă˜Ă˜Ă?Ă– Ă“Ă˜ ÑÙà ̋ Ă?ĂœĂ˜Ă—Ă?Ă˜Ăž Ă?Ă—ĂšĂ–Ă™ĂŁËœ Ă‹Ă˜ĂŽ Ă‹Ă–Ă?Ă™ ÞÒĂ? Ă–Ă?Ă‘Ă“Ă?Ă–Ă‹ĂžĂ™ĂœĂ? Ă“Ă˜ ÞÒĂ? Ă‹ĂžĂ“Ă™Ă˜Ă‹Ă– Ă?Ă?Ă?Ă—ĂŒĂ–ĂŁËœ ĂĄĂ’Ă™ Ă’Ă‹Ă Ă? Ă‹ĂšĂšĂœĂ™Ě‹ ĂšĂœĂ“Ă‹ĂžĂ?ĂŽ Ă‹ Ă’Ă?Ę°ĂŁ Ă?Ă–Ă“Ă?Ă? Ă™Ă? ÞÒĂ? Ùà Ă?ĂœĂ‹Ă–Ă– ĂŒĂ&#x;ĂŽĂ‘Ă?Þ˛ Ă™Ă—ĂšĂ‹ĂœĂ?ĂŽ ÞÙ Ă?Ă?Ă Ă?ĂœĂ‹Ă– Ă˜Ă‹ĂžĂ“Ă™Ă˜Ă? ĂĄĂ’Ă“Ă?Ă’ Ă‹ĂœĂ? Ă?Ă Ă?Ă˜ ĂŽĂ?Ă Ă?ÖÙÚĂ?ĂŽ ĂžĂ’Ă‹Ă˜ Ă“Ă‘Ă?ĂœĂ“Ă‹Ëœ ÞÒĂ? Ă?Ă™Ă?Ăž Ă™Ă? ÑÙà Ă?ĂœĂ˜Ă‹Ă˜Ă?Ă? Ă’Ă?ĂœĂ? Ă“Ă? Ă?Ă?Ă?Ă˜ Ă‹Ă? ĂĄĂ‹Ă?ĂžĂ?Ă?Ă&#x;Ă–Ëœ ĂŽĂ?Ă?ÚÓÞĂ? ÚÖĂ&#x;Ă‘Ă‘Ă“Ă˜Ă‘ Ă™Ă? Ă?Ù×Ă? ÖÙÙÚÒÙÖĂ?Ă?Ë› Ă™ ĂŁĂ™Ă&#x;Ëœ ÒÙå Ă?Ă‹Ă˜ ÞÒĂ? Ă?Ă™Ă?Ăž Ă™Ă? ÑÙà Ă?ĂœĂ˜Ă‹Ă˜Ă?Ă? ĂŒĂ? ĂœĂ?ĂŽĂ&#x;Ă?Ă?ĂŽ ÞÙ Ă?Ă˜Ă?Ă&#x;ĂœĂ? Ă?ĘĽĂ?Ă?ÞÓà Ă? Ă‘ĂœĂ™ĂĄĂžĂ’ Ă‹Ă˜ĂŽ ĂŽĂ?Ă Ă?ÖÙÚ×Ă?Ă˜ĂžËŁ Ă–Ă?Ă‹Ă?Ă? Ă—Ă‹Ă•Ă? ĂŁĂ™Ă&#x;Ăœ ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă? ĂŽĂ“ĂœĂ?Ă?ĂžËœ Ă?Ă’Ă™ĂœĂž Ă‹Ă˜ĂŽ Ă?Ó×ÚÖĂ?Ëœ Ă‹Ă˜ĂŽ Ă?ÞËÞĂ? ĂŁĂ™Ă&#x;Ăœ Ă?Ă&#x;Ă–Ă– Ă˜Ă‹Ă—Ă?Ëœ ÞÓÞÖĂ?Ëœ Ă™ĂœĂ‘Ă‹Ă˜Ă“Ă?Ă‹ĂžĂ“Ă™Ă˜Ëœ Ă‹Ă˜ĂŽ Ă–Ă™Ă?Ă‹ĂžĂ“Ă™Ă˜Ë› Ă?Ă?ĂšĂ™Ă˜Ă?Ă?Ă? Ă?Ă’Ă™Ă&#x;Ă–ĂŽ ĂŒĂ? Ă?Ă?Ă˜Ăž ĂŒĂ?ÞåĂ?Ă?Ă˜ ÞÙÎËã Ě™ Ă?ĂžĂ™ĂŒĂ?Ăœ Í’Íš Ęś Ă™Ă˜ĂŽĂ‹ĂŁËœ Ă?ĂžĂ™ĂŒĂ?Ăœ ͓͔̚ ÞÙ abimbolayi@ yahoo.com, greatbimbo@gmail.comËœ abimbola.akosile@thisdaylive. comË› Ă?Ă?ĂšĂ™Ă˜ĂŽĂ?Ă˜ĂžĂ? Ă?Ă‹Ă˜ Ă‹Ă–Ă?Ă™ Ă?Ă?Ă˜ĂŽ Ă‹ Ă?Ă’Ă™ĂœĂž ĂžĂ?âÞ Ă—Ă?Ă?Ă?Ă‹Ă‘Ă? ÞÙ 08023117639 Ă‹Ă˜ĂŽËšĂ™Ăœ 08188361766 Ă‹Ă˜ĂŽËšĂ™Ăœ 08114495306Ë› ÙÖÖËÞĂ?ĂŽ ĂœĂ?Ă?ĂšĂ™Ă˜Ă?Ă?Ă? ĂĄĂ“Ă–Ă– ĂŒĂ? ĂšĂ&#x;ĂŒĂ–Ă“Ă?Ă’Ă?ĂŽ Ă™Ă˜ Ă’Ă&#x;ĂœĂ?ĂŽĂ‹ĂŁËœ Ă?ĂžĂ™ĂŒĂ?Ăœ Í“Í—
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T H I S D AY ˾ ˜ ͯͷ˜ Ͱͮͯ͵
BUSINESSWORLD
DEVELOPMENT
Catfish farming; getting the youths back into viable agriculture in Ikorodu, Lagos
CHIAMAKA OZULUMBA
World Food Day: Make Agric Attractive to Youth, AfDB Urges African Leaders Abimbola Akosile As the world marked the 2017 World Food Day, the African Development Bank has highlighted how Africa’s food security depends on attracting young people to agriculture and agribusiness. The bank also noted that the sector can potentially create wealth and employment for African youth, thereby stemming migration. The World Food Day, celebrated yearly on October 16, promotes worldwide awareness and action for those who suffer from hunger and the need to ensure food security and nutritious diets for all. This year’s theme focuses on the need to ‘Change the future of migration; Invest in food security and rural development’. The AfDB’s ENABLE Youth programme, which grooming a crop of young agriculturists, is on course to make this happen, according to a release to mark the day, issued in Des Moines, Iowa, United States. Mahmud Johnson, 26, is the Founder of J-Palm
Liberia, which works to improve income for Liberia’s smallholder oil palm farmers by 50-80 per cent. He is also creating additional jobs for over 1,000 young people to work as sales representatives for his products. “Despite the tremendous odds, we (African youth) are determined to maximise our abundant agricultural resources to create wealth, jobs, and socioeconomic opportunities in our countries and across the continent. We need our stakeholders to view us as serious partners in Africa’s transformation, and to work with us to expand our enterprises,” Mahmud said. Mahmud and some of his employees have benefited from capacity building programmes under AfDB’s Empowering Novel Agri-BusinessLed Employment for Youth initiative. Like Mahmud, many African youth are passionate about staying back on the continent to create wealth and employment, if given the tools and opportunities to put their skills to
use. Under the ENABLE Youth programme, the Bank is working with the International Institute for Tropical Agriculture (IITA) to develop a new generation of young commercial farmers and agribusiness entrepreneurs. “We must get youths into agriculture and see it as a profitable business venture, not a sign of lacking ambition,” said the President of the African Development Bank, Dr. Akinwumi Adesina. “Our goal is to develop 10,000 such young agricultural entrepreneurs per country in the next 10 years. In 2016, the Bank provided $700 million to support this program in eight countries and we’ve got requests now from 33 countries,” said Adesina. The Bank considers investment in agriculture as key to making Africa youths prosperous, thereby stemming the tide of migration. This goal, and theme of 2017 World Food Day, are well aligned with two of the AfDB’s High 5 development priorities – Feed Africa
and Improve the quality of life for the people of Africa – said Vice-President, Agriculture, Human and Social Development at the AfDB, Jennifer Blanke. “A thriving business sector in Africa will provide the jobs and returns that will attract and retain Africa’s best talent on the continent, while improving the quality of life of all Africans,” she said. With more than 70 per cent of Africans depending on agriculture for their livelihoods, it is imperative for the sector’s full potential to be unlocked, and by doing so help to vastly improve the lives Africans. Accordingly, one of the goals of Feed Africa is to eliminate hunger and malnutrition by 2025. Due to the finite nature of mineral resources such as gold, diamonds, crude oil, among others, African countries must diversify their economies. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
FG Cautioned on Use of Corporate Tax Incentives to Achieve Projects Implementation Chikodi Ozulumba The Civil Society Legislative Advocacy Centre (CISLAC) has cautioned the Federal Government to avoid institutionalising a policy of granting long-term tax incentives to corporate businesses to achieve project implementation. This, according to the civil society organisation is because of its tendency to create a distorted fiscal picture necessary for sustainable revenue and expenditure planning for infrastructural development. It is also susceptible to abuse and creation of complex tax administration frameworks that would result in long term revenue loss to the nation, it noted. In a statement signed by the Executive Director of CISLAC, Auwal Ibrahim Musa (Rafsanjani), the organisation noted, “We are worried that the failure of government to deliver on its promise to Nigerians on infrastructure development, after over two years in office, due to the financial challenges because of dwindling revenues from oil, is driving her into panic mode and making
her resort to desperate measures. “These include falling back on discredited and obsolete approach of handing out tax incentives to show results, probably for electioneering campaign prelude to 2019. This must however not be done at the expense of long term national interest and development. “CISLAC finds it disturbing that a country that is posting a debt to GDP Ratio of 16 per cent and a budget deficit of about 31 per cent of her annual budget in 2017, planning to borrow another $5 billion (about N1.9 trillion) to fund the 2017 budget, while already spending about 36 per cent of scarce revenues to service debts and is in danger of losing international funding to provide social services, still finds it convenient to concede revenues through the use of incentives. That this is done in exchange for road construction is quite embarrassing and an indictment on the government. “We remind the government that in the era of falling prices of commodities, including oil, dipping national oil reserves and waning demand
for fossil fuels, countries are seeking alternative sources of revenues through domestic resource mobilisation with emphasis of maximising tax revenues to finance development and meet SDG goals. “They are blocking tax loopholes, addressing illicit financial flows, tackling tax evasion and avoidance, re-negotiating fiscal regimes in contracts and doing away with granting of tax incentives”, the release added. “CISLAC understands that the arrangement reached with the Dangote Group to offer tax incentive in exchange for road construction falls within the purview of the CITA (Exemption of Profits Order 2012). However, the new National Tax Policy envisages that tax incentives are sector based and not directed at entities or persons that should provide a net benefit to the country, and equally available to all persons in the same class and be very clear and avoid ambiguity. “We find no evidence that these principles have been followed in this case. The fact that the design and cost of the proposed road project is unknown, reveal the quality of thinking that
went into this decision. We also find the review of the Order to extend from five years to ten curious. “We are aware that this tendency for hasty and discretionary award of tax incentives is what makes it prone to abuse and corruption as has been with previous arrangements such as the Pioneer Status Incentives which this administration have had to cancel and review. For instance, have other cement companies been offered the opportunity to construct roads in exchange for tax incentives? “CISLAC observes that the process leading up to this has lacked clarity and transparency as a cost-benefit analysis and report has not been publicly disclosed; there are no indications that similar corporate entities were offered equal opportunity. We find the very idea of offering firm tax incentives to build a road from which it directly benefits undesirable. NOTE: Interested readers should continue in the online edition on www.thisdaylive.com
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T H I S D AY ˾ ˜ ͯͷ˜ Ͱͮͯ͵
BUSINESSWORLD
DEVELOPMENT QUOTE OF THE WEEK
“Whyareweborrowing?Mobilisingrevenueaggressivelywasnotadvisable,norindeed possible,inarecessedeconomy.ButasNigerianowrevertstogrowth,ourrevenuestrategy willbeaccelerated.Thisgovernmentwillbeveryprudentarounddebt.Wewon’tborrow irresponsibly” - MINISTER OF FINANCE, MRS. KEMI ADEOSUN, SPEAKING IN WASHINGTON D.C. ActionAid Unveils Research Report on Bridge Int’l Academies
Urges govt to reform education sector
Temitope Omabegho
Diene Keita: Prioritising Family Planning, Youth Devt Abimbola Akosile looks at the zest which the new Representative of the UNFPA in Nigeria, Dr. Diene Keita, is bringing to the agency’s quest to improve family planning, youth development in the country Starting off on a strong positive note, the new Representative of the United Nations Population Fund in Nigeria, Dr. Diene Keita, has underlined her major goals of helping the federal government to improve family planning and ensure youth development in the country. The 53-year-old lawyer and economist, whose youthful good looks belie her age, believes that adults can get along better with the youths just by listening to the younger generation instead of imposing their wills on them. Keita, the immediate past Representative at the UNFPA office in the Democratic Republic of Congo, works closely on the Democratic Dividend (DD) initiative with the UNFPA Regional Director for West and Central Africa, Mr. Mabingue Ngom, and sees it (DD) as a development catalyst for Africa; if properly harnessed. She also believes that overseas migration by youths can be curbed totally if the youths in Africa are successfully engaged in productive ventures that can boost their incomes and provide the same employment which they crave in their migration. In a chat with this reporter at a recent UNFPA programme in Abuja, Keita, the daughter of a Guinean envoy, who grew up in Italy and France, and whose husband and 23-year-old son are based in the United States, exuded joy at her opportunity to serve humanity in Nigeria, and has the benefit of her past experiences in DRC and other stations to tackle the challenges in her new task as the agency’s Head of Station in the country. Keita, who worked for several years with the United Nations Development Programme and took over the UNFPA position from former Rep, Ms. Ratidzai Ndhlovu in July this year, revealed her love for opera music, art, dancing and the gym for regular workouts, commended the new Green Dot initiative of the federal ministry of Health alongside other development partners like her agency, where women would be able to access information
Keita on family planning and other health matters at healthcare centres. She also strongly believes the scourge of Female Genital Mutilation (FGM) and Gender Based Violence (GBV) can be effectively tackled through constant education of those involved in the practice and other stakeholders including cultural and religious leaders around the country, who will help to enlighten the populace on the harmful effects of FGM and the negative impact of GBV. The UNFPA boss in Nigeria also thinks that if the youths in the country are effectively empowered, there would be a corresponding ripple effect across Africa and also an impact in the developed countries of Europe, because, to her, those developed countries would be denied the usual access to the best young brains in Africa, since those youths will stay back in the continent to help develop it.
Keita also told this reporter that Nigeria is her 12th country of assignment, having served in different places like Burkina Faso, Burundi, New York, Haiti, Addis Ababa (Ethiopia), Niger, Dakar (Senegal), Mauritania, Benin and DRC, and revealed that the complexity and diversity of her last station country (DRC) would help her work in a complex multi-cultural and multi-ethnic society like Nigeria. Affirming that family planning is the best way to fight maternal mortality, she noted that her aim is to fight maternal mortality in Nigeria. She also expressed her excitement at being posted to Nigeria, where, according to her, she can learn from the sophistication of Nigerian women, while also imparting her knowledge and expertise on the society, especially the development sector. For Keita, “It is good to be here and I am ready to face the challenges of my work.”
ActionAid, a development-focused and antipoverty organisation, has called on the federal government of Nigeria to reform the education sector with respect to the structure, processes and consideration for the poor and excluded. ActionAid country director for Nigeria, Ojobo Ode Atuluku said this at a press presentation of a report titled, ‘Whose children go to the Bridge International Academies?’, which took place in Lagos recently. A female representative of the Deputy Governor of Lagos State was also at the event. The reform, according to Atuluku, has become pressing due to the growth of “for-profit” private schools targeting low income families, which claim to serve the under-privileged communities with affordable cost school fees. On the contrary, such school chains have been found to be operating beyond government regulations and have been challenged by the existing legal systems in other African countries like Kenya and Uganda. These schools have now opened in Nigeria. An example of such schools is the Bridge International Academy which opened it gates in Nigeria in September 2015 with two schools, and has expanded to 23 schools as at the commencement of the new school session in 2016. She further added that “experiences with the schools made us decide to find out about the families these schools are serving and what has been the community experience and perception about such schools. “Our findings was that the total cost for a year of education at Bridge schools, which includes uniform and all of the necessary materials for school is not low enough for the poor to access it, and is far above the N2,380 ($6.60) a month that they widely claim. Commenting further, the director said, “policy inconsistencies and lack of an integrated national development planning framework have combined to produce the current scenario of the decay in education in general and public education in particular. The privatisation of education has failed to and has been shown to be unable to deliver universal access to quality functional and productive education. “There is an urgent need for reform and this includes restructuring the management and funding to public education by different tiers of government and the related need to also restructure the distribution of public investment between primary, secondary and tertiary education respectively”, she added. Also speaking, the coordinator of the research, Mr. Tunde Aremu said “For us in ActionAid, the issue is not just about Bridge International Academy, it is about what the school symbolises in terms of privatisation of education, commercialisation of education and the shutting down of the gate of schools against the poor. Also, the education programme advisor of ActionAid, Laban Onisimus, said the right of children right is the duty of government to provide. Bridge International Academy was founded in Kenya in 2009 by a group of entrepreneurs Shannon May, Jay Kimmelman and Phil Frei. Quality and affordable basic education has been described as one of key aspects of the global Sustainable Development Goals (SDGs), and is also a key indicator of growth and development, especially in the developing countries.
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T H I S D AY THURSDAY, OCTOBER 19, 2017
HEALTH & LIFESTYLE
Acting Features Editor Charles Ajunwa Email: charles.ajunwa@thisdaylive.com
Addressing Diabetes in Nigeria While Nigeria has the highest burden of diabetes in sub-Saharan Africa with over five million cases diagnosed, Novo Nordisk and other health experts believe its incidence can be reduced if Nigerians adopt healthy lifestyles. Martins Ifijeh writes
T
hough Fred, a 32-year-old financial consultant has heard about diabetes before, he found out the consequences of the chronic disease the hard way because it most often doesn’t ring a bell when it starts to manifest. He lost his mother suddenly, who until her death was full of life. They had both discussed about her July 2017 trip to the United States, where she was billed to visit her first daughter who she hadn’t seen for years. But on Friday May 26th, life served Fred lemons. He lost his 66 years old mother, who hardly get ill and was always full of life. No thanks to the silent, creepy but dangerous diabetes. A disease that doesn’t tell it’s victims to get prepared. “I got a call from her that morning that she was feeling dizzy and weak. That is something she hasn’t complained about since I can remember. So I told one of our relatives staying with her to take her to the family clinic, but before she could get there, I learnt she was fast losing strength. “Diagnosis was done on her and they realised her blood sugar level was over 400. I had to tell the doctor to do anything he can to stabilise her, and then commence treatment to reduce the fatally high level,” Fred said. But the damage was done already. There were already severe complications from the diabetes. In no time she was gasping for breath, and then she died from what the doctor called heart attack caused by blood clot to the arteries. The normal blood sugar range is between 70 to 100 but Fred’s mother had over 400 per cent higher than the normal level. “The doctor told me my mum didn’t just develop the disease, that it has been there for years, but was slowly doing damage to her heart and other organs until the day she died. He said if she was doing regular checkups, she would have been able to adjust her lifestyle or possibly be on medication to reduce the level of sugar in her circulating system,” Fred regrettably said. Fred couldn’t make lemonades from what life served him. He lost his mum to a highly preventable disease when diagnosed on time. Mummy Fred is just one among several hundreds of thousands of Nigerians who die yearly due to ignorance of their health status, especially on non communicable diseases like diabetes that do not give warning signs. In 2015 alone, about 120,000 Nigerians were said to have lost their lives to diabetes; which may, if recent predictions are relied on, become the number one cause of deaths in the country among other non-communicable diseases, thereby topping the chart, as against cardiovascular diseases currently leading the causes of deaths occasioned by NCDs in Nigeria. What is even more worrisome is that apart from the over five million Nigerians currently suffering from the chronic disease, indications show that not less than an entirely different five million Nigerians are diabetic but unaware since it does not come with symptoms. By indication, this shows that more than 10 million Nigerians are actually suffering from diabetes in the country; a figure experts say will continue to increase unless Nigeria and Nigerians make conscious efforts to tackle it head on. This is evident in the steady rise of diabetes, diabetes-related complications or deaths recorded in the country, leaving most sufferers at the mercy of the disease, since they are neither aware of the disease or are unable to receive treatment. Over the past 30 years, the prevalence rate of the disease was said to be 0.4 per cent among the Nigerian population; in 1992, it rose to 1.6 per cent; in 2004 it was 3.1 per
Corporate Vice President, Business Area Africa & Gulf, Novo Nordisk, Mads Bo Larsen
cent, and just recently, it has risen above 4.5 per cent, according to a survey conducted by Osuntokun et al. But experts at the launch of the Base of Pyramid Project by Novo Nordisk say the steady rise of the disease in the country is associated with lifestyle changes; overweight and obesity, physical inactivity, alcohol consumption, dietary changes and cigarette smoking, adding that if nothing was done both on the part of the citizens and the stakeholders, the disease may spiral into a national health emergency that would take more lives out of their prime; a disease they have noted was partly preventable. Diabetes, the most common disorder of the body’s hormonal system, occurs when blood sugar levels consistently stay above normal, thereby unable to let the body cells receive glucose due to lack of insulin to drive it into the body cells or lack of the cell receptors to recognise insulin, and then utilise its function. Glucose is an essential source of energy for the brain and the body. Insulin is one of the main hormones that regulates blood sugar levels and allows the body to use sugar (called glucose) for energy. In her presentation at the launch, Consultant Endocrinologist, and Acting Deputy Provost, Academics, College of Medicine, Lagos, Professor Anthonia Obera, said many Nigerians do not access medical checkup, a reason she said has led to delayed or undiagnosed diabetes in the country, leading to complications and possible death. She said unfortunately, six out of 10 Nigerians who have diabetes do not know they have it because they are not checking their health status. “Every adult beyond 40 years old should undergo regular check ups at least twice a year. When tackled on time, there is a very high possibility the person will lead a normal life. Such person will also know first hand what and what to avoid,” she said. While stating that undiagnosed or delayed diabetes contributes to the development
of complications, she said some of the consequences of the disease could result to peripheral neuropathy, retinopathy, cataract, cardiovascular disorders, and even death. She called for strengthening of the healthcare system, timely screening, provision of treatment guidelines, upgrade of infrastructure and equipments, and the integration of private sector into the national health and information system framework. The National Vice President, Diabetes Association of Nigeria, Dr. Ejiofor Ugwu, said 75 per cent of diabetics globally reside in low and middle income countries like Nigeria, where majority could barely afford treatment cost. He said the burden was heavy in Nigeria than the international federation estimates, adding that due to lack of reliable national data on diabetes, it was difficult putting actual figure to the number of diabetics in the country, but he insisted that the burden is underestimated in the country. “The last national surgery we had was decades ago. It is a national embarrassment. We are therefore calling for national surgery on non communicable diseases. “Another issue is that we have insufficient diabetologists in Nigeria. We have about 140 for the entire 180 million Nigerians. Majority of them resides in urban areas. That means the presence of diabetologists in rural areas is very insignificant,” he added. He called on Nigerians to eat healthily, avoiding junk foods, smoking, alcohol intake, sedentary lifestyles. “Regular check up is very important as a step to preventing diabetes,” he added. On his part, the Minister of Health, Professor Isaac Adewole, who was represented by the Medical Director, Federal Medical Centre, Ebutte Meta, Dr. Adedamola Dada said government, in partnership with stakeholders have designed framework for intervention against the disease. He said critical areas the government has considered is the development of national diabetes plan and policy, monitoring trends of the disease, provision of access to care and
sustainable financing, provision of nutrition guidelines, among others. He said Novo Nordisk, through its Base of Pyramid Project was providing good partnership in the fight against diabetes in the country. On his part, the General Manager, Middle Africa, Novo Nordisk, Mr. Venkat Kalyan said that Novo Nordisk was committed to addressing the barriers to better care for people with diabetes. He said the Base of the Pyramid (BoP) project was aimed at providing access to diabetes care for people in low and middle-income countries. “The project runs in Nigeria, Ghana, and Kenya. The purpose of the BoP project is to create shared value by developing scalable, sustainable and profitable solutions that increase access to diabetes care and treatment for the “working poor” as well as provide value to the business of Novo Nordisk. “Building on the success of a diabetes awareness campaign conducted last year in partnership with Family Health International 360 (FHI 360), the goal of this pilot project is to improve diabetes care through the integration of diabetes screening services and linkage to care and treatment into routine general health services in private health facilities. “FHI 360 will adopt the ‘House of Care’ approach, a system of delivering care and support centered and coordinated around the needs of individuals living with diabetes at the base of the economical pyramid to enable access to affordable diabetes care.” He said the approach was predominantly facility-based and will strengthen the capacity of participating hospitals to integrate diabetes care by refocusing services and removing barriers to access. “In addition, this framework will improve outcomes for individuals with diabetes and provide value for the health system.” According to him, the project objective is to conduct diabetes risk-assessment for 82,500 individuals using a risk-scoring tool; conduct blood glucose tests for 40,000 high-risk individuals, among others.
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T H I S D AY THURSDAY,OCTOBER 19, 2017
NEWS ‘Poor Living Condition Increases Finland Ambassador, Hur Advocate Prevention against NCDs in Spread of Monkey Pox’ Nigeria Kuni Tyessi in Abuja Following the fast spread of Monkey Pox virus in seven states barely 20 days into the outbreak in the country, Charity, Envision Global Care Foundation has called on the Nigerian Government to improve the living condition of less-privileged to prevent similar disease outbreak in the country. The states currently experiencing the outbreak are; Bayelsa, Rivers, Ekiti, Akwa Ibom, Lagos, Ogun and Cross River. The humanitarian organisation in a statement called for concerted efforts by all institutions involved to ensure the virus is contained. Adding that it has observed that the less-privileged groups in Nigeria are more vulnerable to disease outbreaks due to poor living condition, access to good medical care and other environmental hazards. While commending the effort of the Federal Ministry of Health through the Nigerian Centre for Disease Control (NCDC) for the response so far, the President of the NGO, Mr. Jerry Ikogho, said Nigeria has reached a stage where vaccines needed for prevention and drugs for treatment of such disease should be readily available and distributed.
Martins Ifijeh He also urged the NCDC to be more proactive towards prevention by increasing awareness on the disease at rural communities as well as Internally Displaced Persons’ camps. “We are happy that the NCDC is coordinating investigation and response across the affected states through active case finding, epidemiological investigation and contact tracing, however we should see it that the swift spread of the virus to seven states in less than a month means that Nigerians are not properly educated about the virus and how it spreads, most of which are due to body contact attributed to environmental and poor living condition of the people,” said Diana Eyo-Enotte, Programme Director, Envision Global Care Foundation. ”At this point, Monkey Pox should be declared a serious medical emergency and the government must pay full attention to it by providing both human and financial resources to contain its spread,” she added. Envision believes that the Nigerian Government could do better if it truly pays attention to the health needs of the poor by making access to medical care easier, cheaper and better.
The Finland Ambassador to Nigeria, Pirjo SuomelaChowdury, Nigeria’s Honourary Consul to Finland, Dr. Kingsley Akinroye and HUR, have called on Nigerians to give priority to lifestyles that prevent the development of Non Communicable Diseases (NCDs). They said apart from eating healthy meals, one of the surest ways of prevention of NCDs was regular exercise, as this not only reduces incidence of cardiovascular disease, but helps in fighting off obesity, diabetes, overweight, among others. Speaking at the launch of
HUR’s advanced exercise equipments during the Medic West Africa Exhibition in Lagos recently, the Finland Ambassador said several decades ago, her country was grappling with cases of NCDs, but made conscious efforts to invest in prevention, which has in no small measure impacted on the health of the people positively. “One of the things we did on prevention is exercising. This has a positive impact on health, and we want Nigerians to also take exercising seriously,” she added. While stating that her country will be 100 years old this year, she said in November, Finland’s
Minister of Trade will be in Nigeria to discuss more on stronger business partnerships. Akinroye, who aligned with the ambassador said Nigeria has a lot to learn from Finland, especially in tackling cardiovascular diseases and other forms of NCDs. “Today, the life expectancy rate in Finland is 70 years, while that of Nigeria is still within 50. That means they live 20 years ahead of us. And their secret is no other than prioritising prevention. “In the early 20s, Finland had one of the highest cases of NCDs in the world. They did an experiment, and then went to the parliament to talk
on why they were dying early. Policies were put in place and their citizens began to cut down on junk foods, salt intake, and they started exercising.” He said Nigeria should face prevention at all stages of life, from childbirth up to old age. The Area Manager Africa, HUR, Eve Autio, HUR has been providing high quality medical accredited exercise and rehabilitation equipments in five continents. “We want Nigerians to take advantage of this technology, as it will help both the middle aged and adults in wading off NCDs. We have been into this for over 30 years now,” she added.
Consultant Oncologist: Cancer Screening, Treatment Must Go Digital Kuni Tyessi in Abuja For the screening and treatment of cancer, modern apparatus such as cell phones must be used, bearing in mind that in a digitised era, treatment of such diseases should be approached with modern tools. This was revealed by a consultant oncologist, Dr. Yinka Olaniyan in Abuja during the opening ceremony of the 2017 third cancer summit with the theme ‘Funding Cancer Care in Nigeria; The way forward’ and with a sub theme ‘Cancer management in Nigeria: Recent advances in breast, cervical, prostate and haematological cancers’ which was organised by the Cancer Education and Advocacy Foundation of Nigeria (CEAFON). Olaniyan who said before screening for a disease the origin must be known, as cervical cancer happens to be the major problem for women and the fourth most common cancer in women which can be prevented and reduced, said the use of cell phones and cameras to take pictures in training of medical personnel will come in handy judging from the epileptic cancer machines and treatment centres available in the country. He said: “Using of cell phones and cameras to take pictures for useful training is very important. With this, the medical personnel at the other level will be waiting to view and treat especially when there’s a breakdown in the facility. This will facilitate
treatment and the patient will not be treated half way or left to die because cancer cells make big comebacks when they have been attacked without continuity.” The President of CEAFON, Prof. Francis Abayomi Durosinmi-Etti in his welcome address, said so far, suggestions have been made on possible solutions to most of the problems including modalities to effect drastic reductions in the high cost of some cancer drugs. He said: “I am pleased to say that after various consultations and other activities, some of these new biologic cancer drugs, existing chemotherapy drugs, surgery and radiotherapy and others, which may cost about N18- N20 million per patient treatment per year has now been substantially reduced to less than 50 per cent and many more patients are benefitting especially from the new biologic drug treatment, particularly for breast cancer. “The National Health Insurance Scheme (NHIS) has also started to offer some measured support for some cancer patients. We sincerely hope that such support is the beginning of more concrete steps to cover some forms of cancer management under the scheme.” For alternative therapy to the treatment of cancer and its viability to lead to a cure, Durosinmi-Etti said it was a welcome development which is yet to be explored and used by several cancer experts.
L-R: Chief Medical Director, Federal Neuro-Psychiatric Hospital, Kware, Professor Shehu Saleh; Minister of State for Health, Dr. Osagie Ehanire and Sokoto State Governor, Aminu Waziri Tambuwal, during the minister’s visit to Sokoto Government House recently
Sahara Group Aligns with the
Ogundare Builds Library for MakeVisionCount Campaign College of Medicine, Lagos Rebecca Ejifoma The Chief Executive Officer, New Cross Petroleum, Dr. Bolaji Ogundare, has inaugurated a newly built library to the Faculty of Dental Sciences, College of Medicine, University of Lagos, as part of his contribution to his alma mata. During the unveiling of the library, the oil mogul told journalists that building a library for the department had been his desire among other things. “I came to this school without a knowledge. Eventually what I realised I was lacking was the access to global information and knowledge. So, I decided at that point that we should work on a library because if you give people knowledge then you open up the world to them. And this is what we wanted to do,” he said. With this achievement in giving back, he commended the school for total cooperation and enabling environment. “I appreciate the college, the provost and the entire
lecturers for supporting our ability to create this enabling unique environment. I still feel fortunate going through this institution.” As an alumni of the institute, Ogundare, however, noted that the inauguration was simply one of the steps that could encourage others to do other things, as he called on more alumni to take part in such steps. “Let us help with the profile of the College of Medicine and the School of Health. I pray that this institution will be a centre of excellence,” he added.
Ogundare
Seventy-five year-old Vincent Nkegbe is one of the beneficiaries of Sahara Foundation’s Eye Care Programme in Ghana. Prior to Sahara’s intervention, Vincent was blind and had relied on his 70- year old best friend, Albert, to serve as his guide over five years. Albert sells building materials and could only attend to his business after supporting his friend. He typically spent all this time shuttling between his office and attending to Vincent. Today, after Vincent’s Cataract Surgery intervention by Sahara Foundation in the Ashanti Region - which recorded 350 successful surgeries - he no longer requires guides to move around. For him, the freedom is priceless, while his friendship with Albert is even much stronger. There’s something magical about the human eye. It stretches to accommodate the most exquisite and intricate images and yet, has the ability to refuse to see anything at all. But beyond the ability to see, the eye represents the window to illumination, emancipation
and empowerment. Today, 285 million people across the globe have no access to enjoying life through the beauty of the eyes according to the World Health Organisation (WHO). This is why Sahara Group embarks on interventions and sundry partnerships that promote opportunities for people to safeguard and improve their sight. As the world marks World Sight Day, it is important for nations, the private sector and multilateral institutions to renew their commitment to raising public awareness of blindness and vision impairment as major international public health issues. Of the approximately 285 million people worldwide that live with low vision and blindness, 39 million people are blind and 246 million have moderate or severe visual impairment. That 90 per cent of blind people live in low-income countries is an indication of a huge need for global collaboration towards eradicating poverty.
T H I S D AY THURSDAY, OCTOBER 19, 2017
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HEALTH NEWS HealthMinisterTasksReligious Institutions on Nation Building
Distributes 200 mosquito nets to Lagosians Martins Ifijeh The Minister of Health, Prof. Isaac Adewole, has called on religious institutions in the country to contribute their quota to nation building through corporate social responsibilities. He said the country was in an important stage of development requiring all hands to invest in it, especially from religious homes. Stating this during the commemoration of the 30th anniversary of the Upper Room Baptist Church in Lagos, Adewole said when churches and mosques contribute by investing in people, many doors of opportunities will be opened that would on the long run benefit the nation. The Health Minister, who was represented by the Chairman, Medical Advisory Council, Lagos University Teaching Hospital, LUTH, Prof. Femi Fasomade, noted the church has an obligation to build the kingdom of God and by so doing, was equally building the nation. “The church has over the years produced prominent members of the society who graduated from missionary schools and the church still
have enough human resources to develop the country.” Adewole, while advising the congregation to visit hospitals whenever they feel sick for early diagnosis and treatment, he condemned self medication. The minister, who distributed over 200 mosquito nets to the audience advised them to prevent mosquito bites by sleeping under the insecticide treated nets. Speaking on the excellence award, the General Overseer of the church, Pastor Oluleke Akinola, explained that the church has been active in its corporate social responsibilities of rendering health, education and spiritual assistance to the residents of Kosofe community. The cleric said the vision was given by God to reduce poverty and crime in the community by sponsoring children to school and giving awards to motivate the students, teachers and principals. “Some years back God gave us a vision for Kosofe environment that has about three local governments under it. When we look around, there is poverty, crime and other things flying around. Then we considered health, education and the spiritual life of the people.
NPHCDA Boss Refutes Rumours of Harmful Vaccination ... Says vaccines used in Nigeria meet global standards Kuni Tyessi in Abuja Contrary to rumours and wild speculations making the rounds that the present vaccines being used within the country are harmful, the Executive Secretary of the National Primary Healthcare Development Agency (NPHCDA), Dr. Faisal Shuaib, has come out to refute such claims. While lamenting how far the rumours have gone and their potency to disrupt on-going and future vaccination programmes, Shuaib said all vaccines used in Nigeria meet international standards and quality set by the World Health Organisation (WHO) and are further certified
by the National Agency for Food and Drug Administration and Control (NAFDAC). While encouraging parents and guardians to make their children and wards available for the polio, measles and yellow fever vaccines which will commence in October, the PHC boss said the benefits of immunisation is the most effective public health intervention and it prevents diseases and confers immunity, as well as protect the people we care about. He said: “The attention of the federal government has been drawn to rumours concerning vaccination perceived to be harmful to children. It wishes to
state clearly that there was no such harmful vaccination that took place nor any currently taking place in any part of the country. “Most importantly, the federal government wishes to re-assure all parents and guardians of the safety, potency and effectiveness of all vaccines. All vaccines used in Nigeria meet international standards and quality set by the World Health Organisation (WHO) and are further certified by the National Agency for Food and Drug Administration and Control (NAFDAC). “Those peddling such un-patriotic, malicious and misleading information
should desist from such acts that undermine our trust and faith in the health system. ”The benefits of immunisation is the most effective public health intervention. The primary benefit of vaccination is that it prevents disease and confers immunity. Vaccination protects the people we care about, it is cost-effective and saves lives. ”As Nigeria conducts national rounds of Polio, Yellow Fever and Measles campaigns, beginning from October 2017, all parents are urged to continue to avail their children of the opportunity to receive the safe vaccines and thereby protect them from vaccine preventable diseases,” he added.
Dettol Donates Sites to Mark Global Handwashing Day Martins Ifijeh According to the World Health Organization, Diarrhoea disease is the second leading cause of death in children under five years old, and is responsible for killing around 525,000 children every year. These deaths can be prevented through the simple act of handwashing with soap which can break the chain of infection. Dettol, one of Nigeria’s leading brands, led the 2017 Global Handwashing Day celebrations by launching a nationwide campaign themed “Letter for Life”. The campaign was a unique way to get children interested in washing their hands, as well as also get them to spread the message of handwashing, from one child to another. To do this, the Dettol team went around to various primary schools in Nigeria, taught them proper hand washing habits, and in turn the children wrote hygiene letters. These Letters along with a free bar of Dettol soap were distributed to children who do not have access to soap. To mark the 2017 Global Handwashing Day, Dettol organized an event at the Morroco Military Primary School Yaba in Lagos state, where they donated 12 hand washing sites to help inculcate proper handwashing habits to the school children. At the event, over 700 school children were taught about proper hand hygiene in a fun and engaging way through an entertaining Dance Drama and the handwashing song.
Speaking at the event, the Managing Director, West Africa, Rahul Murgai stated that “ at RB (Reckitt Benckiser) , our global vision is to provide the world with innovative solutions and products for healthier lives and happier homes. Dettol has been the trusted champion for good health and hygiene for over 50 years in Nigeria, and webelieve that it’s important to inculcate good habits such as proper handwashing at an early age. A simple act of washing your hands with soap can prevent illness and arrest diarrhoea related deaths, which is why we are donating these 12 handwashing sites to the children of this school. Over the past 7 years, we have provided over 32 handwashing sites and have educated over 7 million children, parents and teachers, about the importance of hand washing through our School Hygiene Program, which is amass consumer education program to educate about proper handwashing habits. Speaking further at the event, Marketing Director, RB West Africa, Aliza Leferink, went on to add; “The Dettol brand has been at the forefront of providing health and hygiene messages via its products and initiatives in Nigeria. Our theme for the 2017 Global handwashing day is “A Letter for Life”. With this theme, we wanted a unique way to get children interested in washing their hands, as well as also get them to spread the message of handwashing, from one child to another.
L-R: Trade Commissioner, FinPro, Olu Raheem; Finland’s Ambassador to Nigeria, Pirjo Suomela-Chowdhury; Honorary Consul to Finland, Dr. Kingsley Akinroye; and Area Manager Africa, Martti Autio, HUR, during the launching of HUR Exercise Equipments at the Medic West Africa Exhibition in Lagos recently
Lagos State Promotes Healthy Living through Eko Farmers Mart Vanessa Obioha As part of plans to provide Lagosians with hygienicallysourced food materials, Lagos state government officially opened Eko Farmers Mart. The opening was graced by the Permanent Secretary, Ministry for Agriculture, Dr. Olayiwole Onasanya who represented the governor Akinwunmi Ambode and other state officials. Located in Surulere, Lagos, the mart is home to freshfarm produce like eggs, yams, potatoes and the famous Lake rice. Meats sold in the mart are prepared under the best sanitized environment. The mart has in-house butchers who slaughter and clean the meat before they are packaged for sale. Likewise, poultry meat are locally bred and cleaned by the mart. Locales will generally have access to a wide range of farm produce like Garri Epe, Isu Ambode, Eja Epe, Eja Ikorodu, Eyin Ojulowo, Apon-Badagry, Epo Odua, fresh vegetables, Wara, Prawns and more.
PharmAccess, HFN Advocate Technology for Quality Healthcare Martins Ifijeh
Apart from providing healthy food produce to residents, the mart is also another effort of the state to empower farmers. According to the Omolara Yinusa, the franchise dealer, the farm produce are sourced from farmers in different parts of Lagos. “We have farmers in Ikorodu who supply eggs to us, farmers in Satellite Town and Badagry bring their crops to us, and we also have the Lake rice. We deal directly with the farmers. There are no middle men in our business because we want to ensure that we are getting the best produce from the farm.” With Eko Farmers Mart, residents can also purchase food items at a very affordable price, giving life to the mantra “one thousand Naira buys you a lot”. Modeled after similar ventures in developed countries, there are plans to establish more Eko Farmers Mart in other parts of the state to provide a more convenient and ease of food-material shopping as well as ensure more hygienic food.
Pharmaccess Foundation, the Healthcare Federation of Nigeria, and other stakeholders have proposed use of mobile technology as key to unlocking quality healthcare for Nigerians. Stating this at the HFN conference on Digital Technology for Healthcare at the Medic West Africa Exhibition in Lagos, and sponsored by PharmAccess, they said with mobile technology, the spread of quality health are to Nigerians will be much easier. The HFN President, Mrs. Clare Omatseye said with mobile technology, patients will be more empowered to disrupt the cycle of poverty as well as gain access to quality health. “With Mobile Health (MHealth), patients can pay for their health and access information and then use the information when needed. Unfortunately, most of us are paying out-of-pocket and every day, they get more impoverished and remain in the cycle of poverty. It will enable them
check their blood pressure, sugar levels and other checks and keep them out of hospital through preventive approach. For pregnant women, it tells them when they are due for another antenatal, results and when the drugs are ready.” Omatseye who is also the Managing Director, JNC International cited Kenya where the technology has revolutionised healthcare services. “M-health helps patients have access to different payment platforms. It can also be used to track and traced data. It can also help patients to have access to telemedicine, where they can access and speak to a doctor even without paying in front of the doctor. “ Speaking, the Country Director for PharmAccess Foundation in Nigeria, Mrs Njide Ndili said: “Our objective is to continue advocacy for the use of digital technology especially using the mobile phone to create access to healthcare especially for the low income communities, and improve efficiency by reducing administration cost of providing healthcare services”
39
T H I S D AY THURSDAY, OCTOBER 19, 2017
NEWS Sight Day: 1.5m Children Targeted, 24,600 to Get Free Spectacles Kuni Tyessi in Abuja In the 2017 World Sight Day, Nigeria’s target is to see to free eye treatment of not less than 1.5 million children, as well as the provision of 24,600 spectacles to children amongst other healthcare provisions. This was revealed by the programme director of Seeing is Believing Programme, a non-governmental organisation and hosts of the national World Sight Day in Nigerian, Dr. Juliana Nathaniel, who stated that the 2017 focus is on children. While calling on the National Assembly to give the attention that blindness deserves in the constitution, especially as it relates to children, Nathaniel said the programme which is in four clusters and targeting eleven states, seeks to provide rehabilitative care to children that are also blind so that they can have access to quality education as well as being represented to become useful citizens of the country. She advised parents to stop the harmful practice of using breast milk, salt or urine in the eyes of their children as medication when redness of the eyes or other conditions arose but to promptly seek
the intervention of healthcare givers. She said: “The programme is to create awareness to the general public in order to avoid blindness and visual impairment and to increase the capacity of all healthcare workers all over the country in 11 state’s and in order to provide quality eye services to children. “We are targeting 1.5 million children and we are going to provide services to them and we shall be collaborating with tertiary institutions to provide surgery to children that require surgery and we shall be working with a number of secondary facilities to provide about 24,600 spectacles to children free of charge and the surgeries will also be free of charge. We will also be providing a number of other services, refraction, testing amongst others. “Data has it that 0.6 per cent of children are affected with blindness in Nigeria. However, data for eye condition is very scarce in Nigeria and the latest is that of 2006 and that was the prevalence as of that time.” The pilot 11 states include Oyo, Osun, Ogun, Nasarawa, Plateau, Akwa Ibom, Cross River, Jigawa, Kano, Katsina and the FCT.
Experts Condemn Stigmatisation of Mentally Ill Persons, Call for Free Treatment Martins Ifijeh Psychiatric experts at the Federal Neuropsychiatric Hospital, Yaba, Lagos, have lend their voices against stigmatisation of persons with mental disorders in the society especially in the labour market, saying it can disrupt the development of the country economically. The Medical Director of the Hospital, Dr. Oluwayemisi Ogun, said stigmatisation was the biggest challenge faced in work places, leaving countless citizens unemployed, draining the economy and hampering development of the country. Addressing journalists dur-
ing a lecture organised by the hospital to mark the World Mental Health Day and the 110th anniversary of the hospital recently, themed ‘Mental Health in the Work Place’, Ogun said it was vital that organisation provide health services for their employees, including mental health. “We are championing the right of those facing the challenges of mental illness. Global melt down and other consequences are as a result of mental illness of the employees. Over three million people suffer from depression in the society and work place. One trillion dollars is lost every year globally as a
result of mental health problem. That is why we are advocating that labour organisations take into consideration mental health of workers to increase their performance,” she said. Speaking on stigmatisation, she said individuals hardly walk into a hospital for treatment because of stigma that comes with it. “We are also calling for free mental health treatment because the level of poverty is high in our society and most Nigerians can’t even afford a consultation fee of N300. The Chairman Planning Committee of the event, Dr. Stephen Oluwaniyi, stated that the programme was designed
to focus attention on the special area of human life, work place in particular. “We spend about 50 per cent of our daily hours in our work place. There are areas in the workplace which can make or mar and can trigger mental problems. The main focus of the programme is to correct the issue of stigmatisation in the workplace. A psychiatric consultant, Dr. Femi Olugbile, noted that mental illness was a general problem and a significant issue in the world. According to him, one in every five people in the society experience mental issue at some point in their lives.
Lagos Launches Resource Book on Domestic and Gender Based Violence Martins Ifijeh The Lagos State Governor, Mr. Akinwunmi Ambode, has launched a resource book on sex abuse and gender based violence, with a call on wellmeaning Nigerians to support government efforts to rid the state of the practice. Ambode who was represented by the Secretary to the State Government, Mr. Tunji Bello, during a dinner to wrap up activities marking the Domestic Violence Month, organised by Lagos State Domestic and Sexual Violence Response Team, said now was the time to confront the monster of domestic and gender based violence head on in the society. The governor praised the efforts of DSVRT in the past two years, saying that the team’s achievements have helped to raise the bar in seeking justice and welfare for victims of various forms of abuses in the state. ‘‘Under this administration, the intervention of DSVRT is gradually breaking the silence around issues of sexual and gender based violence in Lagos State. There is a growing change in the culture, and people are increasingly confident to speak out, and we have seen an astronomical increase in the reporting of cases in the media. Lagos State has indeed revolutionised the handling of sexual and gender based violence in Nigeria, with
all the pioneering initiatives that the DSVRT has been empowered to implement. The legacy has been set in Lagos State, and the pursuit for excellence will continue,’’ Ambode stated. The book titled ‘Overcoming Sexual and Gender Based Violence: The Lagos State Experience’ contains contributions from various individuals and organisations working to safeguard victims of sexual abuse and gender based violence how the State’s Domestic and Sexual Violence Response Team has tackled different cases, using multi-level approach. Also, the governor launched the Domestic and Sexual Violence Response Team Trust Fund. In an interview, the Coordinator of DSVRT, Mrs. Titilola Vivour-Adeniyi, said the book was a resource tool, which highlights the numerous interventions embarked upon by the Lagos State Government through the Lagos State Domestic and Sexual Violence Response Team. ‘‘To highlight the practicality and intensity of DSVRT procedures, this resource tool also shares the first hand stories of some survivors and details how their cases were handled. ‘‘This book will serve as an invaluable resource tool in which all stakeholders, responder agencies and other jurisdictions can learn from the Lagos State experience,’’ Vivour-Adeniyi said.
EXERCISE IS MEDICINE
Fitness Instructor, Kaffy Kaffy (2nd left); and Covener, Walk For Life, Siju Iluyomade with the Arise Women, at the Walk For Life Healthy Living Campaign organised by Arise Women in Lagos recently
Foundation to Establish Bone Poultry Association Demands Marrow Transplant Centre Inclusion of Eggs in Prisoners, IDPs’ Diet Wants sickle cell act enacted Peter Uzoho In a bid to provide lasting, accessible and affordable cure to people living with sickle cell disease, the Sickle Cell Foundation Nigeria, is setting up a sickle cell bone marrow transplant centre in the country. The Founder and Chairman of Sickle Cell Foundation Nigeria, Professor Olu Akinoju, stated this weekend in Lagos during the awareness walk organised by Dowen College as part of the school’s 20th anniversary celebration. The exercise tagged: Walk for Love’, was supported by Fidelity Bank Plc and other corporate organisations. Akinoju said the school was helping them through the walk, to raise funds for the building of the centre at the Lagos University Teaching Hospital (LUTH). He said the
foundation has been partnering with the college in search of cure for the disease, noting that, two of their students who had sickle cell anemia were cured in Rome where the transplant centre exists. We know you can cure sickle cell through transplantation of bone marrow provided the patient has somebody who is compatible and can accept the bone marrow without problem. And we did 50 people, we send them to Rome – we are learning from Rome, and two of their students who had sickle cell went to Rome and were cured,” Akinoju said. Meanwhile, Akinoju appealed to the federal government to establish a Sickle Cell Act which would, according to him, cover such issues as ‘New Borne Screening’ to ascertain immediately after birth whether one has sickle cell anemia.
Olawale Ajimotokan in Abuja
The Poultry Association of Nigeria (PAN) has tasked government to institutionalise eggs and egg products as part of the Nigerian Prisons and Internally Displaced Persons (IDPs) feeding programme. The call was made in Abuja by the Director of PAN, Onallo Akpa, on the occasion of the World Egg Day. Akpa tasked government to ameliorate the health of prisoners and IDPs by feeding them with eggs as part of feeding programme. He lamented that inmates are fed mainly with cassava derived foods that are deficient in protein, saying that prisoners may die of malnutrition or develop mental problem except egg is introduced into their feeding programme daily or three times a week. “An egg a day as a deliberate policy of government will
improve the health of inmates in the prisons. It should also be made available for IDPs and even soldiers defending our territorial integrity. Eating of egg boosts their health. It does not also cost much to buy an egg,’’ he said. He faulted the stereotype that egg is associated with increased risk of heart disease, saying it contains important nutrients such as Selenium, Vitamin A and E, Folate, Riboflavin, Choline and Lutein. A nutritionist at the National Hospital, Mrs. Sarah Abagai, said that though the way to consume egg is an individual preference, it is advisable to cook egg as a whole meal as the calorie density of fried egg will increase for those managing weight. Abagai said the albumen is the best source of protein as it strengthens the eyesight and activates the brain against memory loss.
40
THURSDAY, OCTOBER 19, 2017, Ëž T H I S D AY
BUSINESS/MONEYGUIDE
TEF, UNDP Sign Pact to Unleash Entrepreneurial Skills in Africa Obinna Chima As part of efforts to promote entrepreneurship in Africa, the Tony Elumelu Foundation (TEF) and the United Nations Development Programme (UNDP) have signed an agreement. The two organisations signed a Memorandum of Understanding (MoU), to express their desire to work together to further promote entrepreneurship in Africa. “We have to give more attention and support to emerging African entrepreneurs, If the continent’s poverty, inequality and unemployment challenges are to be addressed,� the Director of UNDP Africa Regional Programme and the Founder of The Tony Elumelu Foundation (TEF), said in a joint statement issued yesterday.
The MoU was signed by the Founder of TEF, Mr. Tony Elumelu and the Director, UNDP Regional Service Centre for Africa, Lamin Manneh, at the recently concluded annual gathering of African entrepreneurship ecosystemThe Tony Elumelu Foundation Entrepreneurship Forum held in Lagos. According to the statement, the UNDP and TEF would work together to equip start-ups and existing small enterprises (SMEs) with necessary entrepreneurship skills to enable them to grow their businesses. “The two institutions believe that this support would help unleash the entrepreneurs’ potential to create wealth and jobs, and contribute to efforts aimed at reducing poverty and inequality across Africa, thereby helping countries achieve the
Sustainable Development Goals (SDGs). “Equal attention will be paid to developing systems that will enable the partners to monitor the performance of entrepreneurs and their contribution to Africa’s growth and prosperity,� the statement added.Speaking on the partnership, Elumelu said: “Since the TEF Entrepreneurship Programme was launched, we have received over 150,000 applications, but every year we are constrained to support only 1,000. We are constantly seeking means to bring help to this much broader universe of deserving entrepreneurs. We want to give this group, that we have been unable to select, a chance too and this partnership with UNDP will help us begin to scale our impact�.
Fowler Elected Vice Chairman, UN Tax Committee of Experts Nume Ekeghe The Executive Chairman, Federal Inland Revenue Service (FIRS), Mr. Tunde Fowler has been elected as first Vice Chairman of United Nations Committee of Experts on International Cooperation in Tax Matters. This was disclosed in a statement signed by Head of Communication and Servicom Department, FIRS, Wahab Gbadamosi. According to the statement, the election took place on Tuesday in Geneva, Switzerland, where the global UN Committee of Tax Experts is holding its meeting. The committee is meeting for the first time after the appointment. UN Secretary-General, Antonio Guteress, announced the appointment of the 25 members in a United Nations Economic and Social Council notification dated 10 August 2017. The 25 tax experts were headhunted across the globe to sit on the Committee and proffer solutions to issues on international taxation and cooperation. Five out of the 25 new entrants into the prestigious Committee are Africans. They are Fowler, who is also the Chairman of
African Tax Administrations Forum (ATAF); Elfrieda Stewart Tamba, Chairman of the Liberian Revenue Authority and Chairman of West African Tax Administrators Forum (WATAF); Margaret Moonga Chikuba, Chairman of the Zambian Revenue Authority. Others are Eric Nil Yarboi Mensah, Chairman of Ghanaian Revenue Authority and George Omondi Obell, Chairman of the Kenyan Revenue Authority. The appointment is in accordance with the United Nations resolution—the Economic and Social Council resolution 2004/69, which established that “only 25 tax experts selected from among all countries of the world are needed to join the Committee of Experts on International Cooperation in Tax Matters, within an interval of every four years�. Tax experts in the Committee also include: Natalia Aristazabal Mora (Colombia), Abdoulfatah Moussa Arreh (Djibouti), Rajat Bansal (India), Mitsuhiro Honda (Japan); Cezary Krysiak (Poland), Eric Nil Yarboi Mensah (Ghana); Dang Ngoc Minh (Vietnam), Patricia Mongkhonvanit (Thailand); Marlene Patricia Nembhard-Parker (Jamaica) and Carmel Peters (New
Zealand). Others are: Carlos E. Protto (Argentina), Antonio Deher Rachid (Brazil) Aart Roelofsen (Netherlands), Christoph Schelling; (Switzerland), Aleksandr Anatolyevich Smirnov (Russia), Stephanie Smith (Canada), Titia Stolte-Detring (Germany), JosĂŠ Troya (Ecuador), Ingela Willfors (Sweden), Yan Xiong (China) and Sing Yuan Yong (Singapore). Their mandate is to brainstorm always and offer, from their wealth of experience, knowledge of how the world can manage taxation for international development and cooperation. Guteress, who signed the notification of appointment, stated that a total of 60 nominations were received for the 25 positions in response to a note verbale, dated 27 April 2017, in which the SecretaryGeneral invited Member States to nominate qualified candidates for selection into the Committee. Chief of International Tax Cooperation at the UN, Michael Lennard, in a brief remark as the meeting commenced, underscored the importance of the important work the team need to do given the centrality of tax to development today.
NAIC to Implement Insurance Component of CACS The Managing Director of the Nigerian Agricultural Insurance Corporation(NAIC), Folashade Joseph has disclosed plan by the agency to implement the Insurance component of the Commercial Agriculture Credit Scheme(CACS). She disclosed this yesterday in Lagos at the opening ceremony of a Capacity Building Programme organised to enlighten the Agric Desk Officers of Deposit Money Banks on how to implement the risk component of CACS. According to her: “NAIC is committed to forging the appropriate partnerships with deposit money banks in the fulfillment of their mandate by the provision of the appropriate risk management services to the Agric investors bring financed by the banks.�
Joseph said: “ the deposit money banks and other financial institutions have been NAIC,s major distribution channels over the years�, with “the deposit money banks, as Credit Providers, and NAIC, as risk management service provider.� Stressing the readiness of NAIC to improve its services to conform with modern realities, the NAIC boss added: “I wish to state that NAIC is poised to improve its services in the area of product development, claims payments, valuable farm extension services across the entire agric value chain.� She noted that: “ risk management remains an integral part of modern day Agric financing model, as such the CBN had deemed it fit to ensure that any Agric
investor accessing the CACS facility must have the project insured by NAIC as stated in the current lending guidelines for CACS loan� to protect the project from failing due to unforseen risks. In his address, Director, Development Financing Department of the Central Bank of Nigeria (CBN), Dr. M.A Olaitan while praising the efforts of NAIC stated that the CBN had always been a vanguard for advancing credit to the real sector of the economy. “It has over the years designed and implemented various schemes and programmes aimed ataddressing the problem of limited access to credit by MSMEs especially those based in the rural areas,� he said.
Elumelu
MARKET INDICATORS MONEY AND CREDIT STATISTICS
(MILLION NAIRA)
DECEMBER 2016 Broad Money (M2)
23,840,392.42
-- Narrow Money (M1)
11,520,166.67
---- Currency Outside Banks
1,820,415.90
---- Demand Deposits
9,699,750.76
-- Quasi Money
12,320,225.75
Net Foreign Assets (NFA)
9,353,504.03
Net Domestic Assets(NDA)
14,486,888.39
-- Net Domestic Credit (NDC)
26,970,297.97
---- Credit to Government (Net)
4,595,579.89
---- Memo: Credit to Govt. (Net) less FMA
7,436,917.79
---- Memo: Fed. and Mirror Accounts (FMA)
-2,841,337.90
---- Credit to Private Sector (CPS)
22,374,718.08
--Other Assets Net
-12,483,409.58
Reserve Money (Base Money)
5,837,322.41
--Currency in Circulation
2,179,174.28
--Banks Reserves
3,318,344.71 Ëž Ă™Ă&#x;ĂœĂ?Ă? Ě‹
MANAGED FUNDS Month
December 2016
Inter-Bank Call Rate
10.39
Minimum Rediscount Rate (MRR) Monetary Policy Rate (MPR)
14.00
Treasury Bill Rate
13.96
Savings Deposit Rate
4.18
1 Month Deposit Rate
8.53
3 Months Deposit Rate
8.80
6 Months Deposit Rate
10.23
12 Months Deposit Rate
10.76
Prime Lending rate
17.09
Maximum Lending Rate
28.55 Ëž Ă™Ă˜Ă?ĂžĂ‹ĂœĂŁ ÙÖÓĂ?ĂŁ Ă‹ĂžĂ? Ě‹ ͯ͹Ϲ
OPEC DAILY BASKET PRICE AS AT TUESDAY OCTOBER 17, 2017 The price of OPEC basket of fourteen crudes stood at $55.83 a barrel on Tuesday, compared with $55.74 the previous day, according to OPEC Secretariat calculation. 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
41
THURSDAY, OCTOBER 19, 2017, ˾ T H I S D AY
MARKET NEWS
GTBank Records N309bn Earnings, N125bn Profit in Nine Months Goddy Egene Guaranty Trust Bank Plc yesterday reported profit after tax (PAT)of N125.6 billion for the nine months ended September 30, 2017, showing a marginal growth of 6.8 per cent compared with N138 billion recorded in the corresponding period of 2016. The results released on the website of the Nigerian Stock
Exchange (NSE), showed that gross earnings fell from N329.3 billion in 2016 to N309 billion in 2017. However, net interest income improved from N133 billion to N159 billion. Loans impairment charges fell from N57 billion to N8.4 billion, bringing the profit before tax(PBT) to N150 billion, as against N137.9 billion in 2016. PAT stood at N125 billion, compared with
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
N117 billion in 2016. A further analysis of the results showed that GTBank reduced its loans and advances to customers from N 1.589 trillion to N1.428 trillion, while deposits from customers also declined from N1.986 trillion to N1.897 trillion. But the bank ended the period with total assets of N3.212 trillion, up from N3.116 trillion.
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
GTBank had recommended an interim of 30 kobo per share for the half year (H1) ended June 30, 2017 following impressive performance for that period. During the H1, GTBank’s gross earnings had grown by two per cent to N214.1 billion, from N209.9 billion in 2016, driven primarily by growth in investment securities income as well as income from risk assets.
STO C K
Net interest income rose from N79.1 billion to N129.5 billion. Loans impairment charges fell from N37.5 billion to N7.2 billion, while net fee and commission income fell from N34.8 billion to N27 billion in 2017. The bank had ended the H1 with GTBank ended the H1 of 2017 with a PBT of N101 billion, up representing a growth of
18 per cent over N85.69billion recorded in the corresponding period of June 2016. PAT stood at N83.6 billion compared with N71.7 billion in 2016. Commenting on the H1 results, the Managing Director/CEO of GTBank Plc, Mr. Segun Agbaje, said: “Our strong performance in the first half of 2017 reflects the strength of our businesses.
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
42
Nigeria Daily Stock Market Report:
Thursday, October 19, 2017 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
ĂŶŬŝŶŐ ^ƚŽĐŬƐ ƌĂŐ DĂƌŬĞƚ WĞƌĨŽƌŵĂŶĐĞ͙ E^ ^/ ĚŽǁŶ ϴďƉƐ
Ticker
dŚĞ EŝŐĞƌŝĂŶ ŽƵƌƐĞ ĞdžƚĞŶĚĞĚ ůŽƐƐĞƐ ƚŽ ƚŚĞ ƐĞĐŽŶĚ ĐŽŶƐĞĐƵƟǀĞ ƐĞƐƐŝŽŶ ĂƐ ƚŚĞ ůů ^ŚĂƌĞ /ŶĚĞdž ŵŽĚĞƌĂƚĞĚ ϴďƉƐ ƚŽ ĐůŽƐĞ Ăƚ ϯϲ͕ϲϰϭ͘ϱϮ ƉŽŝŶƚƐ ǁŚŝůĞ zd ƌĞƚƵƌŶ ǁĞĂŬĞŶĞĚ ƚŽ ϯϲ͘ϯй͘ >ŝŬĞǁŝƐĞ͕ ŵĂƌŬĞƚ ĐĂƉŝƚĂůŝnjĂƟŽŶ ĚĞĐůŝŶĞĚ ďLJ Eϵ͘ϳďŶ ƚŽ ƐĞƩůĞ Ăƚ EϭϮ͘ϲƚŶ ŽŶ ƚŚĞ ďĂĐŬ ŽĨ ƉƵůůͲďĂĐŬƐ ŝŶ dŝĞƌͲϭ Ͳ ^^ ;ͲϮ͘ϮйͿ͕ h ;Ͳϭ͘ϱйͿ ĂŶĚ E/d, ;ͲϬ͘ϱйͿ͘ ĐƟǀŝƚLJ ůĞǀĞů ƐŽŌĞŶĞĚ ĂƐ ǀŽůƵŵĞ ĂŶĚ ǀĂůƵĞ ƚƌĂĚĞĚ ĨĞůů ϲ͘Ϭй ĂŶĚ Ϭ͘ϰй ƚŽ ƐĞƩůĞ Ăƚ ϭϵϴ͘ϲŵ ƵŶŝƚƐ ĂŶĚ EϮ͘ϵďŶ ƌĞƐƉĞĐƟǀĞůLJ͘
P rice 23.15
5.0%
GUA R A N T Y
37.1
0.0%
3.67
4.9%
ST ER LN B A N K
26.9
-1.0%
LEA RNA FRCA
0.79
3.9%
A C C ESS
20.5
-2.2%
ET I
17.59
2.2%
F ID ELIT YB K
19.7
0.7%
UB N
6.03
2.2%
Z EN IT H B A N K
13.6
-0.5%
P RESCO FIDELITYB K DA NGSUGA R
1.10
1.9%
D IA M ON D B N K
11.9
1.9%
0.59
1.7%
D A N GSUGA R
10.7
0.6%
68.00
0.7%
T R A N SC OR P
10.6
-4.7%
1.48
0.7%
FB NH
9.7
-0.7%
14.25
0.6%
UB A
7.0
-1.5%
T o p 10 T r a d e s b y V a lu e
T o p 10 Lo s e rs Ticker
P rice
NA HCO
dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ^ŚĞĚƐ Ϭ͘Ϯй dŚĞ dŚŝƐ ĂLJ ĨƌŝŶǀĞƐƚ /ŶĚĞdž ĞdžƚĞŶĚĞĚ ůŽƐƐĞƐ Ăƚ ƚŚĞ ĐůŽƐĞ ŽĨ ƚƌĂĚŝŶŐ ŽŶ tĞĚŶĞƐĚĂLJ͕ ƐŚĞĚĚŝŶŐ Ϭ͘Ϯй ŽŶ ĂĐĐŽƵŶƚ ŽĨ ĚĞĐůŝŶĞƐ ƌĞĐŽƌĚĞĚ ŝŶ ĂŶŬŝŶŐ ĐŽƵŶƚĞƌƐ Ͳ E/d, ;ͲϬ͘ϱйͿ͕ ^^ ;Ͳ Ϯ͘ϮйͿ͕ h ;Ͳϭ͘ϱйͿ ĂŶĚ & E, ;ͲϬ͘ϳйͿ͘dŚƵƐ͕ zd ƌĞƚƵƌŶ ŽĨ ƚŚĞ /ŶĚĞdž ŵŽĚĞƌĂƚĞĚ ƚŽ ϰϴ͘ϲй͘ ŽŵƉĂŶLJ ŝŶ &ŽĐƵƐ͗ K E K WůĐ͘ ;K E KͿ dŚĞ ^ĞĐƵƌŝƟĞƐ ĂŶĚ džĐŚĂŶŐĞ ŽŵŵŝƐƐŝŽŶ ;^ Ϳ ŚĂƐ ĚŝƌĞĐƚĞĚ dŚĞ EŝŐĞƌŝĂŶ ^ƚŽĐŬ džĐŚĂŶŐĞ ƚŽ ƐƵƐƉĞŶĚ ƚƌĂĚŝŶŐ ŝŶ ƚŚĞ ƐŚĂƌĞƐ ŽĨ KĂŶĚŽ WůĐ͘ KĂŶĚŽ ŝƐ ŽŶĞ ŽĨ ƚŚĞ ůĂƌŐĞƐƚ ŝŶƚĞŐƌĂƚĞĚ ĞŶĞƌŐLJ ƐŽůƵƟŽŶƐ ƉƌŽǀŝĚĞƌ ŝŶ ĨƌŝĐĂ͘ ĐĐŽƌĚŝŶŐ ƚŽ ŝŶĨŽƌŵĂƟŽŶ ƐĞŶƚ ƚŽ ĚĞĂůŝŶŐ ŵĞŵďĞƌƐ͕ ƚƌĂĚŝŶŐ ŽĨ ƚŚĞ ƐŚĂƌĞƐ ŽĨ K E K ǁŝůů ďĞ ĨƵůůLJ ƐƵƐƉĞŶĚĞĚ ĨŽƌ ϰϴ ŚŽƵƌƐ͕ ĞīĞĐƟǀĞ tĞĚŶĞƐĚĂLJ Ͳ ϭϴ KĐƚŽďĞƌ ϮϬϭϳ ƚŽ &ƌŝĚĂLJ ϮϬ KĐƚŽďĞƌ ϮϬϭϳ͘ dŚĞƌĞĂŌĞƌ͕ ĨƌŽŵ ϮϬ KĐƚŽďĞƌ ϮϬϭϳ ĂŶĚ ƵŶƟů ĨƵƌƚŚĞƌ ĚŝƌĞĐƟǀĞ͕ ƚŚĞ džĐŚĂŶŐĞ ǁŝůů ŝŵƉůĞŵĞŶƚ Ă ƚĞĐŚŶŝĐĂů ƐƵƐƉĞŶƐŝŽŶ ŝŶ ƚŚĞ ƐŚĂƌĞƐ ŽĨ KĂŶĚŽ͘ /Ŷ ƚŚĞ ϰϴ ŚŽƵƌ ƉĞƌŝŽĚ͕ ƚŚĞƌĞ ǁŝůů ďĞ ŶŽ ƚƌĂĚŝŶŐ ŝŶ ƚŚĞ ƐŚĂƌĞƐ ŽĨ KĂŶĚŽ͘ ,ŽǁĞǀĞƌ͕ ĞīĞĐƟǀĞ ϮϬ KĐƚŽďĞƌ ϮϬϭϳ͕ ŝŶǀĞƐƚŽƌƐ ǁŝůů ďĞ ĂďůĞ ƚŽ ƚƌĂĚĞ ŝŶ KĂŶĚŽ͛Ɛ ƐŚĂƌĞƐ ďƵƚ ƐƵĐŚ ƚƌĂĚŝŶŐ ǁŝůů ŶŽƚ ƌĞƐƵůƚ ŝŶ ĂŶLJ ŵŽǀĞŵĞŶƚ ŝŶ ƉƌŝĐĞ͘ /Ŷ ŝƚƐ ƵŶĂƵĚŝƚĞĚ ,ϭ͗ϮϬϭϳ ƐĐŽƌĞĐĂƌĚ͕ ĚƵĞ ƚŽ ƚŚĞ ƉĂƌƟĂů ƌĞĐŽǀĞƌLJ ŝŶ ŐůŽďĂů Žŝů ƉƌŝĐĞƐ ĂŶĚ ŝŵƉƌŽǀĞŵĞŶƚƐ ŝŶ Žŝů ƉƌŽĚƵĐƟŽŶ ǀŽůƵŵĞƐ͕ ZĞǀĞŶƵĞ ƌŽƐĞ ϭϮϵ͘ϳй zͲŽͲz ƚŽ EϮϲϲ͘ϵďŶ ͘ ,ŽǁĞǀĞƌ͕ ƚŚĞ ĐŽŵƉĂŶLJ ƌĞĐŽƌĚĞĚ Ă >ŽƐƐ ĂŌĞƌ dĂdž ŽĨ Eϭϳϭ͘ϵŵ ʹ ĂůďĞŝƚ ĂŶ ŝŵƉƌŽǀĞŵĞŶƚ ĨƌŽŵ Ă ůŽƐƐ ŽĨ EϮϲ͘ϵďŶ ŝŶ ,ϭ͗ϮϬϭϲ͘ dŚŝƐ ŵŽĚĞƌĂƟŽŶ ŝƐ ůĂƌŐĞůLJ ĂƩƌŝďƵƚĞĚ ƚŽ ƚŚĞ ŝŵƉĂĐƚ ŽĨ ƚŚĞ ƌĞƐƚƌƵĐƚƵƌŝŶŐ ƵŶĚĞƌƚĂŬĞŶ ŽŶ ŽƵƚƐƚĂŶĚŝŶŐ ůŝĂďŝůŝƟĞƐ ŝŶ ϮϬϭϲ͘ tŚŝůƐƚ ƚŚĞ ƌĞĐĞŶƚ ƉŽƐŝƟǀĞ ƐƚƌĂƚĞŐLJ ďLJ DĂŶĂŐĞŵĞŶƚ ĂŝŵĞĚ Ăƚ ƌĞĐĂƉŝƚĂůŝnjŝŶŐ ĂŶĚ ĚĞͲůĞǀĞƌĂŐŝŶŐ ƚŚĞ ŽŵƉĂŶLJ ŵĂLJ ĂƉƉĞĂƌ ƉŽƐŝƟǀĞ͕ ĐŽƌƉŽƌĂƚĞ ŐŽǀĞƌŶĂŶĐĞ ĐƌŝƐŝƐ ĂŶĚ ƚŚŝƐ ƌĞĐĞŶƚ ƐƵƐƉĞŶƐŝŽŶ ǁŝůů ƚŽ Ă ůĂƌŐĞ ĞdžƚĞŶƚ ƉƌĞƐƐƵƌĞ ŝŶǀĞƐƚŽƌ ƐĞŶƟŵĞŶƚ͘ KƵƌ ƌĞĐŽŵŵĞŶĚĂƟŽŶ ŽŶ ƚŚĞ ƐƚŽĐŬ ŝƐ Ă ͞^ >>͘͟
(A Dealing Member of the Nigerian Stock Exchange)
Value
-5.6%
GUA R A N T Y
1545.3
P ric e C hg % 0.0%
359.0
-0.5%
LA WUNION
0.77
-4.9%
Z EN IT H B A N K
CA VERTON
1.20
-4.8%
A C C ESS
198.5
-2.2%
1.41
-4.7%
D A N GSUGA R
154.0
0.6%
NA SCON
13.20
-4.7%
GUIN N ESS
130.7
0.2%
CHA M P ION
2.47
-3.5%
UB A
64.2
-1.5%
245.41
-3.0%
P R ESC O
62.9
0.7%
TRA NSCORP
TOTA L NEM FLOURM ILL FIDSON
1.35
-2.9%
FB NH
59.1
-0.7%
29.20
-2.7%
N EST LE
54.6
0.0%
3.42
-2.3%
WA P C O
30.2
0.0%
THISDAY AFRINVEST 40 INDEX Fundamental Performance Metrics for THISDAY AFRINVEST 40 Index
Ticker
Current Price
Previous Price Change
THISDAY AFRINVEST 40
1,486.39
-0.2%
1
Guaranty Trust Bank PLC
41.70
2
Nigerian Brew eries PLC
Price Change Index to Date
Current Weighting
Price Change YTD 48.6%
48.6%
20.4%
6.5%
7.4x
0.7x
4.3%
9.9%
0.0%
22.8%
68.8%
68.8%
28.2%
4.5%
8.7x
2.3x
4.9%
11.5%
162.50
0.3%
11.5%
9.8%
9.8%
19.4%
8.7%
39.1x
7.2x
2.2%
2.6%
26.31
-0.5%
13.9%
78.4%
78.4%
23.9%
3.4%
5.2x
1.2x
7.7%
19.4%
220.00
0.0%
6.2%
26.4%
26.4%
30.5%
15.3%
16.3x
4.6x
3.9%
6.1%
ROE
ROA
P/E
P/BV
Divindend Yield
Earnings Yield
3
Zenith Bank PLC
4
Dangote Cement PLC
5
Nestle Nigeria PLC
1,200.00
0.0%
6.5%
48.1%
48.1%
64.1%
14.8%
39.7x
24.1x
0.8%
2.5%
6
Access Bank PLC
9.50
-2.2%
4.2%
61.8%
61.8%
15.8%
2.1%
3.9x
0.6x
6.8%
25.7%
7
United Bank for Africa PLC
9.06
-1.5%
5.1%
101.3%
101.3%
17.2%
2.2%
4.0x
0.7x
8.3%
25.2%
8
FBN Holdings Plc
6.06
-0.7%
3.9%
80.9%
80.9%
1.2%
0.2%
16.8x
0.4x
3.3%
5.9%
2.2%
0.7x
3.5%
-19.7%
4.4x
4.0x
1.9%
9
Ecobank Transnational Inc
17.59
3.1%
71.1%
71.1%
-14.5%
-1.3%
10
Lafarge Africa PLC
56.00
0.0%
2.0%
36.8%
36.8%
62.7%
11.8%
11
SEPLAT Petroleum Development C
480.00
0.0%
1.8%
26.3%
26.3%
-12.4%
-6.7%
12
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%
13
Stanbic IBTC Holdings PLC
43.20
0.0%
3.1%
188.0%
188.0%
27.1%
3.2%
11.0x
2.7x
1.4%
9.1%
14
Guinness Nigeria PLC
101.00
0.2%
1.4%
28.5%
28.5%
4.5%
1.4%
71.1x
3.5x
0.6%
1.4%
5.99
0.0%
1.3%
27.4%
27.4%
31.7%
2.8%
4.8x
0.6x
48.00
0.0%
0.5%
-43.1%
-43.1%
44.3%
3.7%
12.1x
5.4x
10.9%
9.5x
2.6x
5.1%
10.5%
0.6x
22.9% -21.7%
15
Oando PLC
16
Forte Oil PLC
17
11 PLC
157.85
0.0%
0.4%
-43.4%
-43.4%
31.5%
18
Total Nigeria PLC
245.41
-3.0%
0.6%
-17.9%
-17.9%
44.6%
8.2%
8.0x
3.2x
2.9%
12.6%
19
Okomu Oil Palm PLC
65.00
0.0%
1.1%
61.8%
61.8%
40.4%
28.1%
8.2x
2.8x
2.3%
12.2%
20
UAC of Nigeria PLC
16.95
0.0%
0.6%
0.8%
0.8%
21
Conoil PLC
28.00
0.0%
0.4%
-25.3%
-25.3%
22
Fidelity Bank PLC
10.0x 11.8%
3.1%
8.7x
1.0x
20.8% 8.3%
5.9%
10.0%
11.1%
11.4%
1.48
0.7%
0.8%
76.2%
76.2%
7.0%
1.0%
3.2x
0.2x
9.5%
30.8%
0.6%
1.0%
133.2%
133.2%
23.8%
10.3%
7.1x
2.4x
3.5%
14.1%
23
Dangote Sugar Refinery PLC
14.25
24
Flour Mills of Nigeria PLC
29.20
-2.7%
0.7%
57.9%
57.9%
7.8%
1.9%
9.8x
0.7x
3.4%
10.2%
25
Custodian and Allied Insurance
3.67
4.9%
0.4%
-5.7%
-5.7%
20.3%
8.7%
3.6x
0.7x
7.6%
27.8%
26
7 UP Bottling Co PLC
90.00
0.0%
0.3%
-30.2%
-30.2%
-56.7%
-13.9%
4.4x
-18.7%
27
Julius Berger Nigeria PLC
29.33
0.0%
0.3%
-24.0%
-24.0%
-12.2%
-1.2%
1.5x
-7.8%
0.0%
28
FCMB Group Plc
1.07
0.4%
-2.7%
-2.7%
0.9%
0.1%
12.5x
0.1x
29
Transnational Corp of Nigeria
1.41
-4.7%
0.6%
62.1%
62.1%
13.4%
3.0%
8.2x
1.0x
30
Diamond Bank PLC
1.10
1.9%
0.4%
25.0%
25.0%
1.6%
0.2%
6.6x
0.1x
31
Presco PLC
68.00
0.7%
0.5%
69.6%
69.6%
53.3%
31.5%
2.8x
1.2x
2.2%
32
PZ Cussons Nigeria PLC
24.00
0.0%
0.5%
65.5%
65.5%
11.5%
5.8%
20.5x
2.3x
2.1%
33
International Brew eries PLC
44.31
0.0%
0.7%
139.5%
139.5%
29.4%
10.2%
35.3x
9.6x
34
Cadbury Nigeria PLC
10.20
0.0%
0.3%
-0.9%
-0.9%
-11.1%
-4.2%
1.8x
-5.7%
6.03
2.2%
0.3%
26.3%
26.4%
6.1%
1.3%
7.4x
0.4x
13.5%
35
Union Bank of Nigeria PLC
36
Chemical and Allied Products P
37
Sterling Bank PLC
32.50
0.0%
0.2%
1.6%
1.6%
84.3%
38.5%
14.2x
10.0x
1.00
-1.0%
0.2%
31.6%
31.6%
5.5%
0.5%
5.9x
0.3x
9.3%
8.0% 12.1% 15.1% 35.7% 4.9% 2.8%
6.8%
7.0% 17.0%
38
GlaxoSmithKline Consumer Niger
23.15
5.0%
0.3%
47.0%
47.0%
61.4%
25.2%
4.5x
1.7x
1.3%
22.0%
39
AXA Mansard Insurance PLC
2.48
0.0%
0.1%
48.5%
48.5%
11.9%
3.9%
12.4x
1.5x
2.1%
8.1%
Continental Reinsurance PLC
1.42
0.0%
0.1%
43.4%
43.4%
16.7%
7.9%
4.8x
0.8x
40
Afrinvest Securities Limited (RC 603 315)
T ic k er
P rice Chg %
3.40
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P ric e C hg %
CUST ODYINS
A IICO
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Vo lum e
GLA XOSM ITH
DIA M ONDB NK
EĞŐĂƟǀĞ ^ĞĐƚŽƌ WĞƌĨŽƌŵĂŶĐĞ ŽŶƟŶƵĞƐ
T ic k er
P rice Chg %
Investment Research
Brokerage Ayodeji Ebo | aebo@afrinvest.com
Robert Omotunde | romotunde@afrinvest.com
Bolaji Fajenyo | bfajenyo@afrinvest.com
Omotola Abimbola | oabimbola@afrinvest.com
20.7%
43
˾ THURSDAY, OCTOBER 19, 2017
MARKET NEWS
Stanbic IBTC Pensions Boss Advises Employers on Pension Ebere Nwoji The Chief Executive Officer of Stanbic IBTC Pension Managers Limited, Eric Fajemisin, has urged employers of labour in Nigeria to demonstrate commitment to the pension system by ensuring that their employees have retirement savings accounts(RSA) as well as funding the accounts through regular remittances of money deducted from their employees’ salaries. Fajemisinmi, who stated this at employers’ forum organised by the company in Ibadan, Oyo State recently, said Stanbic IBTC
Pension was aware of the fact that employers hold the key to unlock the sustainability of the pension scheme, therefore, deemed it necessary to engage them on how their role will impact the pension scheme. He said the forum, themed: ‘Partnering to Deliver Excellent Pension Administration Services,’ is part of Stanbic IBTC Pension Managers Limited’s strategic approach to engage industry stakeholders on ways to strengthen the Nigerian pension industry as well as boost participation in the Contributory Pension Scheme (CPS). “Similar sessions had held
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
across four cities earlier in the year and the last in the series for 2017 will hold in Lagos later in the year. In all, seven cities, Benin, Port Harcourt, Abuja, Enugu, Ibadan, Kaduna, and Lagos, were picked to benefit from the forum” he stated. He observed that there is a clear need to ensure the rapid growth of the CPS by increasing its uptake by Nigerians. According to him, employers remain critical stakeholders in the successful implementation of the CPS in the country, especially in ensuring enrolment and compliance, adding
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 17-Oct-2017, unless otherwise stated.
that without these two elements, the entirety of the pension scheme would lack purpose. Fajemisin, who was represented at the event by Executive Director, Investments, Mr. Oladele Sotubo, stated that the PFA’s engagement with stakeholders is based on a conviction that the country’s fledging pension system holds enough promise and benefits which the people should tap into while still in active service. He said through awareness and engagement, which are the key objectives of the forum, people will be equipped with
the tools and information for a better understanding of retirement planning as well as availed the opportunity to resolve many of the issues around pension management. “Awareness initiatives such as the employers’ forum will help Nigerians become better informed about the benefits of retirement planning, which will subsequently impact positively on the pension scheme,” he added. Also speaking, Head, Business Development, of the company, Mrs. Nike Bajomo, said the PFA, backed by the experience and expertise of Stanbic IBTC Group, a member of
the over 154-year-old Standard Bank Group, will not relent in providing excellent services to its RSA holders and Nigerians. She said as the market leader, Stanbic IBTC Pension Managers Limited, has over 1.5 million retirement savings account holders nationwide, with assets under management in excess of N2.19 trillion. According to her, the company, pays approximately N2.73 billion to over 45,000 retirees monthly and that over N279 billion has been paid to retirees since the PFA commenced operations in 2006.
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 177.87 178.77 40.13% Nigeria International Debt Fund 233.42 234.45 10.42% 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 16.34% ACAP Income Funds 0.61 0.61 74.88% 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 18.18% 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 17.54 18.07 42.09% ARM Discovery Fund 368.72 379.83 28.39% ARM Ethical Fund 25.84 26.62 15.68% ARM Money Market Fund 1.00 1.00 17.76% 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 146.53 147.56 39.31% AXA Mansard Money Market Fund 1.00 1.00 17.83% 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 18.36% 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 1,100.20 1,101.29 8.67% FBN Heritage Fund 146.65 147.90 31.54% FBN Money Market Fund 100.00 100.00 17.86% FBN Nigeria Eurobond (USD) Fund - Institutional $111.45 $112.50 8.39% FBN Nigeria Eurobond (USD) Fund - Retail $110.65 $111.69 8.35% FBN Nigeria Smart Beta Equity Fund 155.98 158.25 38.54% 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 1.38 1.40 47.87% Legacy Short Maturity (NGN) Fund 2.90 2.90 12.86% 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 2,897.73 2,937.84 31.79% Coral Income Fund 2,389.01 2,389.01 14.64% GREENWICH ASSET MANAGEMENT LIMITED assetmanagement@gtlgroup.com Web: www.gtlgroup.com ; Tel: +234 1 4619261-2 Fund Name Bid Price Offer Price Yield / T-Rtn Greenwich Plus Money Market Fund 100.00 100.00 17.77% 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 17.83% Vantage Balanced Fund 2.09 2.11 24.23% Vantage Guaranteed Income Fund 1.00 1.00 18.58% Kedari Investment Fund (KIF) 111.61 111.61 15.03%
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 15.49% Lotus Halal Fixed Income Fund 1,025.65 1,025.65 8.97% 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 13.06 13.17 35.17% 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 1.20 1.22 20.26% PACAM Fixed Income Fund 10.84 10.89 4.25% 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 2,197.12 2,210.34 20.01% Stanbic IBTC Bond Fund 171.10 171.10 11.13% Stanbic IBTC Ethical Fund 0.99 0.98 27.92% Stanbic IBTC Guaranteed Investment Fund 212.82 212.82 13.87% Stanbic IBTC Iman Fund 171.11 173.32 31.79% Stanbic IBTC Money Market Fund 100.00 100.00 18.19% Stanbic IBTC Nigerian Equity Fund 9,532.26 9,643.94 25.71% 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 12.55 12.74 29.62% Zenith Ethical Fund 18.18 13.32 20.45% Zenith Income Fund 18.64 18.64 12.68%
REITS NAV Per Share
Yield / T-Rtn
11.41 131.22
1.01% 5.85%
Bid Price
Offer Price
Yield / T-Rtn
10.72 137.39 106.92
10.82 140.36 108.93
24.24% 38.88% 41.10%
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
4.56 9.03 17.26 20.64 139.54
4.60 9.11 17.36 20.84 141.54
64.64% 28.29% 45.78% 29.22% 10.06%
The value of investments and the income from them may fall as well as rise. Past performance is a guide and not an indication of future returns. Fund prices published in this edition are also available on each fund manager’s website and FMAN’s website at www.fman.com.ng. Fund prices are supplied by the operator of the relevant fund and are published for information purposes only.
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THURSDAY, OCTOBER 19, 2017 ˾ T H I S D AY
INTERNATIONAL
email:foreigndesk@thisdaylive.com
Trump Denies ‘Insensitive’ Remarks to Soldier’s Widow US President Donald Trump says a claim that he made insensitive remarks to the recently bereaved widow of a soldier is “totally fabricated”. Congresswoman Frederica Wilson said he had told the widow of Sgt La David Johnson: “He knew what he was signing up for, but I guess it hurts anyway.” The Democratic lawmaker said she was shocked by the alleged comments. Sgt Johnson was among four US special service soldiers killed
in Niger by Islamist militants this month. Mr Trump had already been criticised for not contacting the families of the dead servicemen right after the fatal ambush on 4 October. The president tweeted on Wednesday morning:“Democrat Congresswoman totally fabricated what I said to the wife of a soldier who died in action (and I have proof). Sad! Mr Trump did not immediately provide the evidence. A White House official said
Kenya Election Official Roselyn Akombe Flees to US A senior member of Kenya’s electoral commission (IEBC) has fled to the US amid death threats ahead of next week’s presidential election re-run. Roselyn Akombe said the IEBC was under political “siege”, unable to reach consensus or take any decisions. The IEBC said it regretted her decision to quit, while its chairman conceded that he could not guarantee that the poll would be credible.
Last week, opposition leader Raila Odinga pulled out of the vote. The Supreme Court annulled the result of the original 8 August poll, when current President Uhuru Kenyatta was declared winner, after finding irregularities and illegalities. IEBC chairman Wafula Chebukati said he regretted Ms Akombe’s decision to quit and warned Kenya’s political leaders not to “interfere with the process”.
Mr Trump’s conversations with the families of dead servicemen were private. Ms Wilson, who represents a Florida district, told CNN the president’s call had been made shortly before Sgt Johnson’s coffin arrived in Miami. “This gentleman has a brain disorder,” said the lawmaker, “and he needs to be checked out.” Ms Wilson told WPLG, a Miami TV station, she had heard the president’s “so insensitive” remarks to the widow on speakerphone in a limousine. “Yeah, he [President Trump] said that,” Ms Wilson said. “To me, that is something that you can say in a conversation, but you shouldn’t say that to a grieving widow. “And everyone knows when you go to war, you could possibly not come back alive. But you don’t remind a grieving widow of that.”
Ms Wilson told the Washington Post the widow, Myeshia Johnson, who is expecting the couple’s third child, had broken down in tears after the conversation. “He made her cry,” Ms Wilson said. The congresswoman told the newspaper that she had wanted to grab the phone and “curse him out”. But an army sergeant who was holding the handset would not let her speak to the president, she said. The full context of the conversation is not known. Ms Wilson said that when she had asked Ms Johnson about the exchange, she said she could not remember. The congresswoman later responded to Mr Trump’s denial by tweeting: “I stand my account of the call with @realDonaldTrump and was not the only one who heard and was dismayed by his
insensitive remarks.” Mr Trump has been on the defensive over the deaths in Niger since a reporter asked him at the White House on Monday why he had still not called the families. He provoked fury by falsely claiming that his predecessor, Barack Obama, and other former US presidents had not called the relatives of dead service members. Mr Trump also said he had written letters to the families of the four killed in Niger and planned to call them soon. The White House later said the president had spoken to the families but it did not say when. On Tuesday, Mr Trump ratcheted up the row by suggesting that President Obama had not called the family of Mr Trump’s chief of staff, Gen John Kelly, when his son was killed in Afghanistan in 2010. The Associated Press
says that like presidents before him, Mr Trump has made personal contact with some families of dead soldiers - but not all. “What’s different is that Trump, alone among them, has picked a political fight over who’s done better to honour the war dead and their families,” the news agency reports. “He placed himself at the top of this pantheon, boasting Tuesday that ‘I think I’ve called every family of someone who’s died’ while past presidents didn’t place such calls.” This is not the first time Mr Trump has found himself in an imbroglio over US veterans. As presidential candidate, he mocked Senator John McCain for having been captured as a prisoner of war in Vietnam. He also engaged in a racially charged feud with the parents of decorated army captain Humayun Khan, who was killed in Iraq in 2004.
Iraq Takes Disputed Areas As Kurds ‘Withdraw to 2014 Lines’ Iraq’s military says it has completed an operation to retake disputed areas held by Kurdish forces since 2014. On Monday and Tuesday troops retook the multiethnic city of Kirkuk and its oilfields, as well as parts of Nineveh and Diyala provinces. Peshmerga fighters had seized the areas while battling so-called Islamic State. The military operation came three weeks after the Kurds held an independence referendum, which Iraq’s
prime minister said was now a “thing of the past”. Mr Abadi called for dialogue with the Kurdistan Regional Government on Tuesday night, saying he wanted a “national partnership” based on Iraq’s constitution. People living in the Kurdistan Region and the disputed areas overwhelmingly backed secession in the referendum, but Mr Abadi declared it illegal and rejected calls from Kurdish leaders for negotiations.
Mr Trump has been criticised for the alleged remarks
GETTY IMAGES
Iran Nuclear Deal: Khamenei Denounces Trump’s ‘Rants and Whoppers’ The supreme leader of Iran has defended the 2015 nuclear deal and used strong language to accuse US President Donald Trump of ranting and lying. “I don’t want to waste time on answering the rants and whoppers of the brute US president,” Ayatollah Ali Khamenei said. Mr Trump has refused to certify to the US Congress that Iran is complying with the terms of the deal. He has threatened to terminate the Obama-era agreement altogether. The American leader called for the deal to be amended to prevent Iran from developing nuclear weapons or intercontinental ballistic missiles.
Ayatollah Khamenei said he welcomed expressions of support for the accord from European states but if the US tore up the deal, Iran would “shred it to bits”. President Trump also accused Iran of “destabilising activities” in Syria, Yemen and Iraq, and imposed sanctions on the powerful Islamic Revolution Guards Corps. Congress must now decide whether to reimpose some economic sanctions that were lifted as part of the nuclear deal in return for Iran limiting sensitive nuclear activities. If that were to happen, the US would in effect be in violation of the terms. Iran says it has the right to nuclear energy and insists
its nuclear programme is for peaceful purposes only. On Wednesday, an Twitter account attributed to Ayatollah Khamenei quoted him as telling students in Tehran that it was a “waste of time for anyone to answer” Mr Trump. He said Mr Trump was “mad” because Iran was spoiling US “plots” in Lebanon, Syria, Iraq and Egypt, according to an account of the meeting with the students that was posted on his official website. “If they ask questions like, ‘Why Iran is active in the region?’, well, it is none of their business,” he said. “Or if they ask, ‘Why does Iran have missiles?’ then our response is, ‘Why do they
have missiles and nuclear weapons?’” He called on Europe to actively oppose Mr Trump’s position. The UK, France, Germany, Russia, China and the EU all endorsed the agreement The US says Iran has carried out ballistic missile tests in violation of a UN Security Council resolution that endorsed the nuclear deal. It has called upon the Islamic Republic not to “undertake any activity related to ballistic missiles designed to be capable of delivering nuclear weapons”. Iran says the missiles it has tested are not designed to carry nuclear warheads.
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THURSDAY, OCTOBER 19, 2017˾ T H I S D AY
NEWSXTRA
PDP Senate Caucus to Collectively Adopt Chairmanship Candidate INEC Plans 1m adhoc staff for 2019 polls Damilola Oyedele ÓØ ÌßÔË ËØÎ Okon Bassey ÓØ ãÙ The Peoples Democratic Party (PDP) caucus in the Senate has decided to collectively throw its weight behind one candidate, among those vying for the position of the chairman of the party at the upcoming national convention. The PDP is set to hold its convention on November 9, 2017, and has zoned the slot for the chairmanship of the party to the South-west. To this end, the caucus is set to hold a meeting next Monday, where the candidature of each of the candidates would be assessed, and the caucus’s candidate would be adopted. The decision was taken at a closed door meeting of the caucus which was held in the National Assembly yesterday. A senator, who spoke with THISDAY off record said the lawmakers were however yet to decide which of the
South-west candidates it would support for the chairmanship position. “Plenary did not finish on time today, (yesterday), so we decided we would not be able to conclude on our agenda, so the meeting was adjourned till Monday, it was just to prepare for the upcoming convention, to adopt a candidate for the chairmanship position.” “Some are already campaigning. We have Chief Bode George, Chief Gbenga Daniel, Prof. Tunde Adeniran, Prof. Taoheed Adedoja, former Governor Rasheed Ladoja, Chief Raymond Dokpesi, Mr. Jimi Agbaje and Senator Bode Olajumoke. The number may increase. So on Monday, we would discuss each candidate and decide on who to adopt as a caucus,” the senator said. Meanwhile, the Independent National Electoral Commission (INEC) has said it plans to recruit one million ad hoc staff to complement the electoral
body’s staff for the efficient conduct of the 2019 general election. This is as it reiterated its preparedness for the upcoming Anambra State polls slated for next month. The Chairman of INEC, Prof. Mahmod Yakubu, speaking before the Senate Committee on INEC yesterday, said the conduct of the Anambra, Ekiti and Osun States elections would help Nigerians assess the electoral commission’s readiness for the 2019 polls. He added that while the existing smart card readers would be deployed for Anambra State elections, their management has been enhanced to reduce its inefficiencies, which he said are sometimes “over magnified.” Mahmud assured the
Emmanuel, PDP state chairmen meet in Uyo committee that INEC is working hard to ensure that the performances of the smart card readers in the 2019 polls are enhanced. “Controversies and challenges raised on the Smart Card Readers in the 2015 elections to us in INEC were over magnified because the problem was not technological on the part of the device but altitudinal on the part of the users due to lack of adequate training.” “Thus, because the problem is more of altitude than technological defects, solid steps are being taken by the commission to bring about robust interface between the machine and those to use them in terms of practical trainings before the elections,” he said. Also, Governor Udom Emmanuel of Akwa Ibom
State and the 36 state chairmen chairmen of the party that he of the PDP yesterday held a had to cut short other crucial meeting aimed at re-positioning engagements in Abuja to be the party ahead of its elective part of the forum. national convention and the He promised supports 2019 general election. for the party from relevant The meeting held behind stakeholders and craved closed doors took place at for a holistic action plan to the conference hall of the restructure the party and state Government House, return it to winning ways in in Uyo, with the governor the next general elections in presiding. the country. At the meeting, it was PDP, the governor stressed, gathered that the governor was working to address every who is the Chairman of the teething problem bedeviling South-south and South-east the party, hinting that “all state chapter of the party, urged congresses of the party would the PDP state chairmen to sit be concluded before the end up as it was time for every of November.” stakeholder in the PDP to close According to him, the ranks and work to re-position meeting was crucial as the the party effectively emerge need to fix the party ahead victorious at the 2019 polls. of the in 2019 polls would form The governor who part of the party’s agenda at emphasised the importance the INEC meeting scheduled of the meeting, told the state for Tuesday next week.
Tanker Drivers on Rampage, Chase Kogi Deputy Governor, One Feared Death Yekini Jimoh ÓØ ÙÕÙÔË There was a gridlock at Murtala Muhammed Bridge, Jamata along Lokoja-Abuja road yesterday following the killing of a tanker driver, Mallam Suleiman Ibrahim, by some state tax force revenue officers over N2,000 fees. The gridlock which lasted for 11 hours, left motorists and commercial drivers stranded beyond Koton-Karfi and Jamata as Murtala Muhammed Bridge was totally occupied by various trucks. THISDAY reliably gathered that the incident occurred at about 12 midnight yesterday when some state tax force revenue officers allegedly clubbed one of the tanker drivers, Ibrahim, to death over N2,000. According to sources, an argument ensured when the driver was stopped and asked to pay the fee which he objected to, saying he can only afford N1,000. “Suleiman Ibrahim, the slain driver, was conveying beans in his truck from Yobe State and was heading to the southern part of the country when he was stopped by the task force members who charged him N2,000. “The slain driver pleaded that he can only afford N1,000, but argument ensued and an officer of the task force dragged the driver from his vehicle and hit him on the head with the plank they use to block roads. The nails on the plank sank into the driver’s skull and he died after the attack. “Other drivers made to apprehend the task force officer but he was rescued from the mob by policemen,”
the sources stated He added that at that point, one of the tax force revenue officers pulled the tanker driver from his truck and allegedly clubbed him to death. The action of the tax force revenue officers angered the tank drivers who resultantly blocked the Murtala Muhammed bridge at Jamata with their trucks as it became impossible for other road users to cross the bridge. Three motorcycles belonging to the tax force revenue officers were allegedly burnt by the angry drivers as security men were helpless as the drivers stood their ground. However, when the state Deputy Governor, Simon Achuba, visited the scene, he was chased away by the truck drivers, telling him that they wanted to see the Governor, Alhaji Yahaya Bello, who sent the people to kill one of their own. The state Chairman of National Association of Road Transport Owners, (NARTO), Alhaji Danladi Ibrahim, while speaking with journalists, condemned the action of the tax force revenue officers. He noted that he saw no reason why somebody should kill a fellow human being just because of N2,000. Ibrahim stated that the attitude of the tax force revenue officers has becomed radical as they are found harassing motorists plying Okene-Lokoja-Abuja highway. Meanwhile, the state Commissioner of Police, Aliyu Janga, and other officers, including the military, visited the scene as effort were made to control the situation to avoid a break down of law and order.
NIGERIAN DELEGATION
L-R: Oyo State Governor, Senator Abiola Ajimobi; his Niger State counterpart, Alhaji Sani Bello; Minister of Agriculture and Rural Development, Chief Audu Ogbeh; and Kano State Governor, Dr. Abdullahi Ganduje, during the United Kingdom-Nigeria Agri-Tech Summit, in London...Tuesday.
Militants Kidnap Four British Missionaries, Couple in Delta Sylvester Idowu ÓØ ËÜÜÓ Suspected militants in Bomadi, headquarters of Bomadi Local Government Area of Delta State, have made a nuisance of the recently lunched ‘Operation Crocodile Smile II’ with the kidnap of four Britons at Enukoroma community. The victims were said to have been kidnapped in the community last Friday to protest the heavy presence of soldiers drafted from 222 Battalion for the Operation Crocodile Smiles II. Security sources told THISDAY yesterday when the news filtered into Warri that the kidnapped Britons were carrying out humanitarian services in the community before their kidnap. “The Britons were carrying out free medical services for the people of the community because there is no single primary health care centre
in the area and surrounding communities. “They have been doing this exercise for sometime without informing the security agencies about their presence in the community so it made it difficult for soldiers to offer protection for them,” an undercover agent said. He said the kidnappers came in a speed boat at about 3p.m. when most of the residents had gone for fishing with a handful of old women and children left in the community. A community elder, Chief Theo Fakama, contacted yesterday, confirmed that the Britons, including a couple, were offering “free medical care and religious activities” in the Burutu area before they were abducted. He lamented the effect of the kidnap of the victims, noting that many of the indigenes of the riverine community had been battling with various
ailments before the arrival of the Britons. “We are sad by this development. These people brought succour to our people. See the way they are being paid back by these hoodlums. They have been around for over three years now and have considered themselves part of us. Will they stay here when they are freed?: He asked. Delta State Police Public Relations Officer, Andrew Aniamaka, confirmed the incident, saying the Britons were kidnapped on October 13 this year. “The victims are of British nationality, two of whom are a couple, and have been rendering humanitarian services in the area for a while but unfortunately, they didn’t let the authorities know of their presence in the area all this while. “There is a militant group that has been operating in the area and we believe they are
the ones behind the abduction. “Immediately the militants struck, they whisked the victims to the interior regions of the creek where we believe they are being held for the past five days,” he said. Coordinator of the Media Department of the Joint Task Force code named Operation Delta Safe, Major Ibrahim Abdullai, confirmed the kidnap but said troops were on the trail of the hoodlums. “We are already on their trail. We will definitely get them soon and rescue the victims. There is no need to panic. Delta State Commissioner of Police Zanna Ibrahim also confirmed that anti-kidnapping team was already on the trail of the suspects. He suggested the abduction could be linked to the recent military operation against violent crimes, which has seen an increase in troops in the area.
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THURSDAY, OCTOBER 19, 2017˾ T H I S D AY
NEWSXTRA
Customs Revenue Fraud: N140bn Recovered From Erring Firms, Banks, Says Senate C’ttee University of Health Sciences Bill passes second reading Damilola Oyedele ÓØ ÌßÔË The Senate Joint Committee on Customs, Excise and Tariff and Marine Transport has disclosed
that about N140 billion has been returned to the coffers of the government by firms and banks found culpable in its investigations into revenue
Atiku’s Son Remanded for Contempt of Court, Released For disobeying a court order, Aminu, the son of a former VicePresident, Alhaji Atiku Abubakar, was yesterday remanded in the transit cell of Tinubu Chief Magistrates Court, Lagos. Aminu was alleged to have disobeyed an order made by Chief Magistrate Kikelomo Ayeye on October 11 over the custody of a six-year-old Amir Abubakar, who he was alleged to have taken away from the custody of his estranged wife, Fatimo Bolori. Ayeye had earlier ordered the respondent in the suit marked FCL/29/2017, between U. F. Bolori Vs M. A. Abubakar to produce Amir Abubakar at the first hearing of the case. The News Agency of Nigeria (NAN) reported that when the case came up yesterday for the discharge of “Emergency, Evacuation/Protection Order” made by the court, the court was informed that the parties were planning to settle out of court. In response, Bolori’s lawyer, Mr. Nwabuzor Okoh, denied receiving any notification from the respondent to settle out of
court. Consequently, Chief Magistrate Ayeye cited Aminu for contempt for disobeying the court’s order issued on October 11. She ordered that the respondent be remanded in transit cell and the case stood down pending when he would produce the boy. However, a statement signed by Okoh who is from the law firm of Festus Keyamo (SAN) late last night, said Aminu was later released from custody when he produced the sixyear-old boy in court late yesterday afternoon. Both Fatimo and Aminu had divorced in 2011. The children were living with their mother, Fatimo, with an arrangement that they should be allowed to spend their vacation with their father. But when the children were on holidays in 2013, Aminu requested that they should be released to him to travel abroad for vacation and thereafter, refused to let them return to their mother.
leakages in the Nigeria Customs Service. This is as the Senate granted an eight-week extension to the committee which held its first sitting on July 20, 2017. The Committee Chairman, Senator Hope Uzodimma presenting the interim report yesterday, said the remittances were made by collection banks and some companies. “As a result of this exercise, some collection banks have made additional remittances to the Central Bank of Nigeria (CBN), to the tune of N128 billion and evidence of payment and reciept have been recieved by the committee.
“From the selected 60 companies, over N12 billion payments have been made to the government voluntarily by the companies based on their own internal self audit after receiving documented evidence of their culpability from our committee,” he said. Uzodimma added that despite the payments, none of the approved collection banks or selected companies have fully cleared the established liabilities against them. The interim report was however silent on the names of the banks and companies and details of their refunds to the government.
The committee identified several revenue leakage channels to include undervaluation, wrong tariff classification, misuse of procedure codes, abuse of waivers and concessions, and abuse of diplomatic cargo and personal effects privilege to clear consignments actually meant for commercial use. Other channels include falsification of import documentation such as proforma invoice, final invoice and bills of laden, non-imputation of vehicle identification number in inspection acts in order to undervalue vehicles. The committee also identified sale of bulk forms M and
pre-arrival assessment report by importers and clearing agents and submission of forged documents for pre arrival assessment reports. In another development, the Senate yesterday passed through second reading the bill seeking the establishment of the Federal University of Health Science, Otukpo. The bill is sponsored by the former President of the Senate, Senator David Mark (Benue PDP). Mark harped on the need for the country to produce more health professionals to bridge the gap in the demand for skilled health workers in the sector.
House Urges FG to VISIT Establish Military Base in DIPLOMATIC L-R: Deputy Managing Director, BelemaOil Producing Nigeria Ltd., Mr. Pedro Daiz; Executive Vice President/Finance, Mrs. Rosemary Asiegbu; Canadian Deputy High Commissioner to Nigeria, Mr. James Christoff; President/Founder BelemaOil, Mr. Jack-Rich Tein; and his Danare to Curb Attacks by wife, Elizabeth, when the Canadian diplomat visited the corporate headquarters of the company in Port Harcourt…recently. Cameroonian Insurgents MONKEY POX SPREADS TO 11 STATES WITH 74 SUSPECTED CASES James Emejo ÓØ ÌßÔË
The House of Representatives yesterday passed a motion urging the federal government to establish a military base at Danare Community in Boki Local Government Area of Cross River State to curb unwarranted attacks by Cameroonian Gendarmes. It also urged the Inspector General of Police to ensure the speedy completion of the Police Station at Danare and deploy police officers permanently at the border. The House further urged the Attorney General of the Federation and leader of the Nigerian Delegation at the CameroonNigerian Mixed Commission to, in conjunction with the National Boundary Commission, ensure the completion of the international boundary demarcation exercise in line with the judgment of the International Court of Justice (ICJ) in order to enhance peaceful co-existence between Nigeria and Cameroun. The lawmakers, in a motion moved by Hon. Agibe Christopher Ngoro (PDP, Cross River) on the need to stop
the incessant harassment and killing of Nigerians in Danare community, called on the National Emergency Management Agency (NEMA) to send relief materials to the people of Danare Community to support victims of the attacks in order to ameliorate their suffering. The House also mandated its Committees on National Security and Intelligence, Defence, Police Affairs, and Emergency and Disaster Preparedness to ensure implementation and report back within four weeks for further legislative action and observed a minute silence in honour of those who lost their lives protecting Nigeria’s territorial boundary. Ngoro said Danare community is a border community which shares boundaries with Bodam community in Cameroon, stressing that there exists a long history of incessant encroachment and provocations between the two communities on both sides of the international boundary arising basically from the refusal of the Cameroon community of Bodam to abide by the international boundary that was set by the International Court of Justice (ICJ).
vaccination as erroneously conceived. In his own briefing, the Minister of Water Resources, Suleiman Adamu, said FEC approved N280 million for the completion of an irrigation project started since 1997. Meanwhile, palpable tension yesterday enveloped the ancient town of Omu-Aran in Irepodun Local Government Area of Kwara State and Akwa Ibmo State as parents and guardians stormed schools in their hundreds to withdraw their wards over rumour of alleged killer vaccines in the area. In Omu-Aran, parents had besieged both private and public schools in the area as early 9a.m. as the rummour of the presence of the said vaccine injection team allegedly accompanied by soldiers in the town spreads like wild fire. Some of the parents, mostly traders, commercial motorcyclists had to abandon their businesses in a bid to withdraw their wards from schools to prevent them from being injected with the alleged vaccines. But the state Ministry of Health in a statement clarified that the ongoing Reactive Vaccination in
the local government area and other neighbouring communities, was to prevent the spread of yellow fever. The state Commissioner for Health, Dr. Suleiman Atolagbe Alege, explained that the vaccination exercise has no connection with the Nigerian Army and is not dangerous to children’s health as it has been rumoured by certain individuals. In Akwa Ibom State, distressed calls by parents and students around schools across the state reportedly generated pandemonium which caused children to flee from school to their houses while some ran into the bush to hide in other to escape the alleged vaccination. It was gathered that while police vehicles were seen visiting the schools, plain-cloth detectives were also seen going from school to school to interrogate the school-heads because of the development. But the state Commissioner for Education, Mr. Paul Udofia, the police and army, all condemned the rumours saying they were calculated to cause confusion in the state.
The state Police Public Relations Officer (PPRO), Bala Elkana and his colleague of the Nigerian Army, Headquarters 2 Brigade, Uyo , Major Umar Shuib, said the romour was misleading. The PPRO said since the news got to them during the school period police patrol teams were dispatched to the schools to authenticate the truth and source of information. He said: “It’s a mere rumour which unfortunately led to closure of some schools quite early today (Wednesday) “Our officers have been on surveillance since morning, they have been going round schools but no one is really able to trace where the information originated from and which school was affected. The rumour came in from Anambra where such was reported to have occurred.” The Nigerian Army, Headquarters 2 Brigade, Uyo in their reaction said “The attention of Headquarters 2 Brigade Nigerian Army has been drawn to some rumours making the rounds that some army personnel are going round schools in Akwa Ibom State dressed in military camouflage
uniforms with the intention of forcefully vaccinating students with an unknown substance. “The callous and unpatriotic rumours spread by these enemies of state are, to say the least, despicable, deplorable and highly condemnable as they are intended to cause pandemonium among the general public. “The authorities of 2 Brigade Nigerian Army wishes to inform the public that the Brigade is currently involved in Operation Crocodile Smile II, which is yielding tremendous successes especially in curbing the excesses and activities of criminals, cultists and other miscreants in Akwa Ibom State. “For emphasis therefore, the 2 Brigade Nigerian Army does not and will never carry out its medical outreaches or vaccination exercises for that matter in schools. “We therefore wish to inform the public that the on-going rumours about army personnel in military camouflage going round schools in any part of Akwa Ibom State to forcefully immunise school children is false and should therefore be disregarded,” he posited
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All Police Commands Will Be Involved in Anambra Guber Poll, Says IG CPs to withdraw personnel illegally attached to VIPs Paul Obi Ă“Ă˜ ĂŒĂ&#x;ÔË
election peacefully. “We will involve all Ahead of the November commands, all the state 18 governorship election in commissioners of police. We Anambra State, the Inspector- are going to sit down and General of Police (IG), Ibrahim send out directives towards Idris, yesterday said all police the mobilisation of the police commands across the country officers that will cover the would be involved in the election,� he said. provision of security. Idris said: “Please, when The IG explained that there you receive these directives, are great expectations in the area act on them promptly because of security, which would also it’s going to be a massive lead to adequate security and deployment. Anywhere you mobilisation of personnel. cite some mistakes, send the He added that personnel of correction to us so that it can the service would be mobilised enable us have the deployment from not less than 15 units across very fast. the country to police the election. “There is no time for us to be He also directed state delaying on some of these issues. Commissioners of Police (CPs) The election is on November 18 to probe the deployment of and I think it’s close enough for police personnel attached to all the security arrangements to very important persons with be made now, especially in terms a view to withdrawing those of deployment of personnel and deployed illegally. provision of necessary logistics. He made this known in Abuja “We are going to deploy while briefing Commissioners of about 15 units there to handle Police and police officers above. the election. And I believe we He promised that the police are going to adequately take authorities are “working towards care of the election,� he stated ensuring that not only the The IG said the “return of Anambra election was hitch normalcy following the excesses free but also subsequent ones of these IPOB has made it in Ekiti and Osun states. easy for us to ensure that the “The greatest challenge we are Anambra election is peaceful.� having now is the forthcoming He bemoaned cases of governorship election in “illegal deployment of police Anambra State. We are going personnel especially to senior to sit down to strategise on how citizens,� and further urged we are going to conduct that CPs to “immediately assess the
Onitsha Traders Root for Obaze, Slam Obiano Fresh from the official flag off of his campaign, the campaign train of the Peoples Democratic Party (PDP) candidate for the forthcoming Anambra State governorship election, Mr. Oseloka H. Obaze, again hit the Main Market, Onitsha yesterday to unprecedented welcome. The campaign team started off at Bright Street and drew huge followership throughout the market with traders bemoaning the zero presence of the Willie Obiano government in the market, insisting that his only achievement was to duplicate their taxes and his annual fireworks at the market on Christmas eve. At Williams Street,  Obaze told the crowd that the incumbent has squandered the N75billion former Governor Peter Obi left for his government, spent N455bn approved by the state House of Assembly since 2014, and allegedly diverted ecological funds and even borrowed over N60billion with the populace at loss on where the money was spent. The former United Nations official who grew up in Onitsha, promised to lighten the burden on the traders in Onitsha by building their roads and ensuring there are no multiple taxation in the state. He recounted how as SSG he resolved the issue of multiple taxation in the Timber market by instructing the then Commissioner for Finance to
ensure the traders only pay an agreed fee monthly to a government account and are duly issued receipt. He promised to ensure the dualisation to Otuocha road which the incumbent has since abandoned. In the same vein, Â former Governor Obi lamented the poor performance of the incumbent listing all he did in his first tenure as governor while challenging the incumbent to show his projects in Onitsha for Ndi Anambra to see. Â Obi narrated how during his handover, Â he urged Governor Obiano to ensure the dualisation of road to Otuocha, completion of Amawbia to Umunya expressway and Amawbia to Ekwulobia roads, Â all of which are still untouched till date. Â Responding, a market leader praised Obaze for his vision and previous service to the state. Â He made clear that they will always stand where Obi stands, insisting that they are determined to oust the governor from seat. However, Â he begged the Global Policy Expert to help ensure that the dualisation of the 33 to Otuocha road is delivered as he promised as commuters spend over three hours daily navigating the traffic on the road. He also pleaded that Obaze looks into the relentless harassment and alleged extortion of the police on their customers which has reduced their sales sending many hungry.
situation with a view to doing the right things in conformity with the Police Act and Police Regulations.� He said: “The issue of illegal deployment of Police mobile units, that’s is the special protection unit and the police mobile force is a concern to us. “We are going to give all the commands between now and the end of the month to conduct physical checks of all mobile and the special units in all your commands. “When you conduct that check, the issue of having a squadron commander does
not arise, that’s why I’m giving you this special directive. It is the responsibility of the state commands, I have been saying it that deployment of all operations of police in the commands rests squarely with the commissioners of police. “These are constitutional issues, it doesn’t fall on the squadron commander. So I want all commands to check deployment of the Police Mobile Force and ensure that all those people that are attached with our men from the police mobile force for whatever decision which is not in consonant with the
police regulation must stop immediately. “That decision has to stop. So, in your report, you are going to look at the issue of most of these VIPs that are provided with our men from the special units. “You have to count their number and then write special reports to us and those you as commissioners of police feel that they don’t deserve to be deployed with these special units, you have to send directives from your offices to the squadron commanders and copy us at the Force
Headquarters. “We are going to have absolute control of the usage of our police men that we attach to VIPs all over the country. I believe this is not an issue that we cannot on our own, handle at the headquarters, so it has to be done with Commissioners of Police.� He urged state Commissioners of Police “to take over the responsibility of deployment of personnel even from the Police Mobile Force and Special Units,� adding: “they should not allow the responsibility for squadron commanders.�
THIS IS TO CERTIFY THAT....
Governor Godwin Obaseki of Edo State (right), presenting a certificate to one of the participants in the National Industrial Skills Development Programme (NISDP) during the closing ceremony of the NISDP Phase II organised by the Industrial Training Fund (ITF) in collaboration with the state government at the Government House, Benin City yesterday. With them is the state Deputy Governor, Hon. Philip Shaibu
Jonathan, Babangida Meet in Minna Laleye Dipo Ă“Ă˜ Ă“Ă˜Ă˜Ă‹ Former President, Dr. Goodluck Jonathan yesterday held a closed door meeting with former military President, General Ibrahim Babangida, (rtd) at his uphill residence in Minna, the Niger State capital, Jonathan, according to a source, arrived at Minna about 10 a.m. in a GMC bullet proof SUV with registration number ABJ 961ER. He was said to have been accompanied by former Senator
Nimi Barigha Amange who had represented Bayelsa East in the National Assembly. It was learnt that there were eight other vehicles on the convoy and that the former president came to Minna by road. According to a source close to Babangida residence, Jonathan, immediately after arriving the IBB residence, entered into a closed door meeting with the former military leader. “Only former President Jonathan and Babangida were in the meeting,� the source told THISDAY, adding that “even
Senator Amange waited in another part of the residence.� The meeting between the duo, which started a few minutes after 10 a.m. did not end until about 12.14p.m. it was also gathered. On his way out, Jonathan declined to speak to journalists, describing his visit as “private.� When pressed further for comments, the former president said he had not seen Babangida since he returned from medical vacation and felt it was the right time to do so. He commended the media for “doing a nice job, you people
are doing well.� Asked to comment on the prevailing political situation in the country, Jonathan replied: “We are retired politicians,� and drove off in the same car he came in. Sources however believed that the two-hour meeting between the duo went beyond mere greetings and could have centred on the December 2017 National Convention of the Peoples Democratic Party (PDP). Both former president Jonathan and Babangida are major stakeholders in the PDP project.
INEC: Two Million Voters to Participate in Anambra Governorship Poll David-Chyddy Eleke Ă“Ă˜ ĂĄĂ•Ă‹ The Independent National Electoral Commission (INEC) yesterday disclosed that a total of 2,158,171 voters would participate in the Anambra State governorship election which comes up on November 18. The Director, Information Communication Technology department of INEC, Mrs. Bimbo Oladunjoye, said the number represents those who registered and collected their Permanent
Voter’s Cards (PVCs). Oladunjoye disclosed this at the publication and presentation of the official Register of Voters (RV) to political parties’ candidates in Awka. She also disclosed that a total of 2,280 voters attempted multiple registration, while a total of 3,628 voters participated in the Continuous Voters Register (CVR) which took place between August 10 and 14, 2017. Oladunjoye said the
publication and presentation of the official register of voters was in line with Section 30 of the Electoral Act 2015 (as amended), which provides that the Register of Voters for an election shall be issued not less than thirty days before such an election. She added that INEC would take the lives of its ad-hoc staff, voters, local and international observers, international and local journalists on duties very seriously during the elections by ensuring the conduct of a
hitch and violence-free election. In his remarks, the state Commissioner of Police, Mr. Garba Umar, who was represented by the Assistant Commissioner of Police in the state, Mallam Maiyaiki Baba, assured the electorate of their safety during and after the election. Umar said the police and other sister agencies would ensure an enabling environment for free, fair and credible election.
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Indicted High Court Judge Loses Bid to Stop Sack Alex Enumah ÓØ ÌßÔË
Justice Gladys Olotu of the Federal High Court indicted for dereliction of duty and recommended for compulsory retirement has lost her legal battle to stop the president from enforcing her sack from the bench. The National Industrial Court (NIC) in a judgment delivered in a suit filed by Justice Olotu against the President, National
Judicial Council (NJC), Attorney General of the Federation (AGF), Chief Justice of Nigeria (CJN) and Chief Judge (CJ) of the Federal High Court, held that the recommendation of the plaintiff for compulsory retirement was in order. Justice E. N. Agbakoba in his judgment held that the rules of natural justice were not breached and that the Investigation Panel and NJC followed the laid down procedures in their
Judiciary Deserves the Best Brains, Says Babalakin Hails NJC on discipline The Pro-Chancellor and Chairman, Governing Council, University of Lagos (UNILAG), Dr. Wale Babalakin (SAN), has commended the National Judicial Council (NJC) for its determination to sanitise the judiciary and ensure that judges are fairly treated. To him, this will attract the best brains to the third arm of government and ensure orderliness in the judiciary for the benefit of the society. Babalakin said this in Lagos yesterday while delivering a paper, titled: ‘Law and The Society’, as the guest lecturer at the Annual Reunion of Government College Ibadan Old Boys’ Association (GCIOBA). According to him, the judiciary must be adequately funded to attract the best brains to the bench, like it was in the First Republic, and make it perform optimally. Babalakin said: “However, the NJC’s budget is dictated by the executives. It can only spend what is made available to it. I have listened to all Chief Justices of Nigeria since Justice Aloma Mukhtar complained about the poor funding of the judiciary. I have been told that some states are unable to pay the full allowance to judicial officers. This is totally unacceptable and unconstitutional. We have to pay
judicial officers appropriately and it is my submission that their salaries should be indexed to inflation. In Nigeria today, most people have lost 50 per cent of the value of their earnings to inflation, which implies that judges now earn less than half of their salaries in real value.” Babalakin, who is an old boy of GCI, lamented the volume of work at the state High Courts, saying: “I believe that most of the jurisdiction being exercised by High Courts in the states can be handled at the magistracy. We need to enlarge the jurisdiction of the magistrate courts to take away some burden of the High Courts, so that the High Court can concentrate on issues that require great attention. We have to place serious emphasis on the hierarchy of courts. Appointment to the Bench must be based on merit. Law is essentially a profession that requires very serious intellectual capacity. The various levels of courts must look up to the courts higher than them in the hierarchy.” The lawyer also spoke on the federal structure of Nigeria, lamented that creation of wealth was not mentioned anywhere in the constitution, but rather, emphasis was placed on wealth sharing among the three tiers of government.
‘Impressions of Reality’ Opens Today A solo exhibition titled: ‘Impressions of Reality’ opens on October 19 at the Wings Towers along Ozumba Mbadiwe Street, Victoria Island, Lagos. The exhibition will feature the paintings of the Lagos-based artist Jonathan “Mavua” Lessor, who marks his 30 years of art practice. On until Wednesday, October 25, the exhibition has the blessings and goodwill of a cavalcade of corporate sponsors like Seven Up Bottling Company, Rand Merchant Bank and De Real Properties, among others, as well as leading Lagos-based art aficionados. Lessor, who graduated from the Federal Polytechnic in Auchi, has held several exhibitions and owes his renown in the contemporary Nigerian art scene to his hard work and determination. His works, which are much sought-after among both local and international collectors,
represent his visual take on his environment. “My works are not exactly a copy from life but my opinion about life as defined by my nature,” he corroborates in his Artist Statement. “In truth, as we have it today, most of what surrounds us is anything but beautiful. Ugly forms dominate our world and we are shrouded and enmeshed in it. This is the challenge. With my works, I attempt to subscribe to the ideal and stimulate reflections. My primary motive is aesthetics, since all human endeavours can be summarised in beauty.” It is the artist’s endeavour to coax beauty from out of the prevalent chaos in his environment that the viewer discerns in the works “Business Energy”, “Shadow of a City”, “Buzzy Night”, “Faces of Depression”, “Heartbeat of Lagos”, “Piping Light” and “Gold and Crystals,” among others.
recommendations that Justice Olotu be compulsorily removed from office. The plaintiff had dragged the President, NJC, AGF, CJN and CJ of the Federal High Court before the Industrial Court in Abuja praying for an order to stop the president and other defendants in the suit from given effect to the recommendation that she should be removed as a judge based on her indictment for dereliction of duty. Specifically, Justice Olotu who was indicted in 2014 by the NJC and recommended by the council for removal from office, applied for an order of the Industrial Court to prohibit the defendants from carrying out the recommendation on the grounds that due process of law was not followed. In the suit filed and argued on her behalf by her lawyers, Dr Alfred Eghobamien (SAN), Ladi Rotimi-Williams (SAN) and Sunday Ameh (SAN), the plaintiff claimed that Section 36
of the 1999 Constitution was breached by the NJC and its Investigative Panel in arriving at their recommendation for her sack. The plaintiff further contended that the petition against her bordered on her failure to deliver a judgment within 90 days and not on misconduct that could carry heavy punishment such as compulsory retirement. The plaintiff therefore complained that the recommendation by the NJC to the president for her compulsory retirement as a High Court judge was done in bad faith and in breach of extant codes and rules applicable to her appointment. Justice Olotu who was appointed a Federal High Court judge by former President Olusegun Obasanjo on July 28, 2000, and inaugurated by the then Chief Justice of Nigeria, Justice Mohammed Lawal Uwais on September 1, 2000, claimed that on February 27, 2014, she heard in the media, a press statement
of the NJC to the effect that she had been recommended for a compulsory retirement. But the NJC, in their defence claimed that six petitions containing various allegations against the plaintiff were received and that copies were made available to her, requesting her reaction to the allegations and which she did. The NJC claimed that two different investigative panels were set up and at the end of their investigation into the petitions found the plaintiff culpable and recommended her for removal from office. However, Justice Agbakoba after taking argument from parties involved, held that due process was followed by the NJC in arriving at its conclusion. “I have carefully summarised the positions of all sides, the argument of opposing counsel and having carefully reviewed all the authorities sited, read through all the relevant processes and digested the contention of the parties, in my view, the issue for determination in
this matter was whether the NJC and its committee acted within the scope of their jurisdiction or power when they entertained and determined petitions against the applicant pursuant to which the NJC recommended the applicant for compulsory retirement. “All in all, I find that the rule of natural justice were not breached and that the investigation panel and the second respondent (NJC), followed the laid down procedure in carrying out their functions. “The applicant has not satisfied the requirements of law for the grant of the reliefs sought in this judicial review and this matter is hereby dismissed.” Meanwhile, apparently not satisfied with the decision of the Industrial Court, Justice Gladys Olotu has approached the Court of Appeal in Abuja with a notice of appeal praying the appellate court to set aside the decision of the Industrial Court on the grounds of miscarriage of justice. No date has been fixed for the hearing of the appeal.
LEGISLATIVE AFFAIRS L-R: Chairman, Conference of Speakers and Speaker Kebbi State House of Assembly, Hon. Ismaila Kamba; Speaker,House
of Representatives,Hon.Yakubu Dogara; Speaker, Gombe State House of Assembly, Hon. Nasiru Abubakar Nono; and Speaker, Niger State House of Assembly, Hon.Marafa Ahmed, during a courtesy visit on Dogarta by the Conference of Speakers of State Legislatures at the National Assembly in Abuja....yesterday
House Probes TCN over Violation of Procurement, FRC Acts on Foreign Loans Okays arms for FRSC officers James Emejo ÓØ ÌßÔË The House of Representatives yesterday passed a resolution mandating the Committees on Power, Public Procurement and Aids, Loans and Debt Management to investigate the activities of the Transmission Company of Nigeria (TCN) within the past 10 years in respect of foreign loans and contract awards and report back within eight weeks for further legislative action. It said the transmission company appeared to be in violation of the constitution, the Public Procurement Act as well as the Fiscal Responsibility Act, having taken loans amounting to $1.5 billion from the World Bank and other international lenders over a period of time without complying with the provisions of section 44 of the Fiscal Responsibility Act. The House also passed a motion urging the federal
government to facilitate the procurement of arms and ammunition for officers of the Federal Road Safety Commission (FRSC) to protect themselves while performing their duties. It mandated the Committee on FRSC to investigate cases of attacks on personnel of the FRSC, ensure implementation on arms carrying and report back within four weeks for further legislative action. Hon. Simon Y. Arabo moved the motion on the need to investigate the violations of the constitution, the Fiscal Responsibility and Public Procurement Acts by the Transmission Company of Nigeria (TCN) over Foreign Loans of $1.5 billion and $500 million for its operations and contract processes. The lawmakers noted that the privatisation of the Power Sector under section 8 of the Power Sector Reform Act of 2005 gave birth to the Transmission
Company of Nigeria (TCN) as one of the successor companies in the sector. Arabo said as a government institution, loans were utilised by TCN without the appropriation of the National Assembly contrary to Sections 80-83 of the 1999 Constitution. He further raised concern that TCN is currently negotiating another loan of $500 million with Islamic Development Bank and has been violating the provisions of the Public Procurement Act in contract procedures as its contract processes are opaque. However, the motion on the need to curb incessant attacks on personnel of the FRSC was moved by Hon. Solomon Bulus Maren. Citing the increasing cases of violent attacks, harassment and intimidation of personnel and offices of the commission by highly placed individuals, motorists and hoodlums across the country, particularly in
Zamfara, Jigawa, Abia and Lagos States; he expressed concern that the United Nation’s Declaration on Reduction of Road Accidents by 50 per cent by year 2020 may not be achieved by Nigeria if the attacks are not urgently curbed. Lawmakers argued that the road safety officials are endangered and have no means to protect their lives in order to secure road users. They said officers sometimes discover offensive weapons in vehicles during routine operations on highways but are incapable of challenging occupants of such vehicles as they lack capacity to protect themselves from any attack that could arise. The observed that in order to avoid the attacks, road safety officers stay off the roads, particularly at night as motorists take advantage of the situation to breach traffic regulations, which often lead to accidents.
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Poverty Remains Threat to Nigeria’s Democracy, Dogara Laments Clarifies delay in transmission of constitution amendment bills to states James Emejo ÓØ ÌßÔË Speaker of the House of Representatives, Hon. Yakubu Dogara yesterday lamented that extreme poverty has taken a toll on Nigerians and further threatened the country’s democracy. He said there is urgent need for governments at all levels to put the citizens on the path of prosperity in order to preserve the present democracy. Speaking when he received a delegation from the Conference of Speakers of Nigerian State Legislatures, led by Hon. Ismaila Abdulmumin Kamba, in his office. He said state Houses of Assembly would have to work hard to improve their monitoring of state funds to ensure that they are properly utilised for the betterment of their people, as this will help lift the vast population of the people from poverty. The speaker said: “We know that if something has to be done at the level of government that will translate into a better life of our people, it must begin from the local government level, at the state level, and then before we even talk about the federal level.” The speaker, however, advised that while they should be fearless in carrying out their responsibilities, they should oversight their state executives without being combative.
He said: “In democracy, we worship no one, we should fear only God but we respect men. When you have a parliament that only responds to the demands of the executive, there is no way we can make progress. We have to carry out our responsibilities without having any fear at all. “The promise of democracy is basically life, liberty and the pursuit of happiness. It therefore means that if a citizen is poor, he is excluded from the promise of democracy. He may have a life but as a matter of fact, his kind of life is even worse than death. So poverty tends to becloud someone’s sense of reasoning and imagination.” “That is why even at the level of the United Nations, a day has been set aside to talk about the elimination of extreme poverty which excludes citizens of democracy from the promise of democracy and that promise is the pursuit of happiness. If you are poor, you may not have a life and even if you have a life, it may not be desirable. A poor man is not free, you know that very well except you have not tasted poverty. So completely, you are eliminated from the promise of democracy.” Dogara urged state MPs to utilise the opportunity in the proposed amendments to approve financial autonomy for state legislatures and local governments councils in order to free themselves from the reins of
state executives and strengthen their roles of oversight. He also explained the delay in the transmission of the Constitution Amendment Bills recently passed by both chambers of the National Assembly to state MPs, saying it is as a result of ongoing consultations between the two Houses to harmonised all areas of differences in order to produce a uniform document. He further condemned the use of the term “Abuja politicians” to describe federal legislators, noting that most of their work at the federal level is primarily for the development of the grassroots where most of their voters reside. He said: “At the federal level, whatever we do kind of translate into an impact at the local level where a majority of our people live. As a matter of fact, I find it very funny, if not offensive, that some people refer to some of us as Abuja politicians as if we were voted for here in Abuja. Not minding that our people are there, our brother here who is from Bauchi State knows the kind of struggle we
go through during elections. So, as far as I am concerned, it beats my imagination when someone refers to a legislator as an Abuja politician.” Earlier, The Chairman of the Conference of Speakers of Nigerian State Legislatures., Hon Ismaila Abdulmumin Kamba, said they were waiting anxiously for the constitution amendment bills to be transmitted to them for consideration and passage. He said: “We at the Conference of Speakers are ready to do justice to these issues. We have already concluded that whatever you will transmit to us, we will carry our strata and groups along and agree that whatever the majority may agree on will be carried.” Also, yesterday, the House Committee on Public Accounts ordered the Bank of Agriculture (BoA) to within 90 days refund the sum of N3.5 million paid to one Mr. MK Nkwa as “exit package” following his role as interim chairman of the bank’s Shareholders Committee in 2014. The ruling of the committee followed the consideration of a query by the Office of
the Auditor General for the the board of the bank approved Federation (AuGF), in which the request by the bank to pay it urged the House to prevail the exit package. on the bank’s management to The Chairman, House refund the said sum considered Committee on Public Accounts, to have been paid illegally. Hon. Kingsley Chinda (PDP, The query which formed Rivers) demanded for part B of the entire document documents backing the claims stated that MK Nkwa was at by the MD, saying that the oral the time an employee of the evidence so given cannot be Federal Ministry of Finance. admitted as proof of compliance. Managing Director, BoA, He said: “There was no board, Prof. Danbala Danju in his the minister was supposed response said the bank’s to act, he now delegated to previous management sought the chairman, shareholders and obtained the approval of committee, and our concern the Minister of Agriculture at now is whether the minister can that time to enable it pay the actually delegate such powers, exit package to Nkwa. He said since he was also wielding a the committee was properly power delegated to him as constituted and the payment acting board chairman.” of exit package was in order. The MD again responded But a member of the saying, “we relied on the powers committee, Hon.Sunday of the chairman, the minister Adepoju (APC, Oyo), questioned of Agric at that time”. the rationale for paying such Adepoju, again drew an an amount to the interim analogy using the Head of chairman when a substantive Service, asking whether “if the chairman was to be appointed HoS retires and a PermSec is to last longer than the interim, asked to act in his/her stead who enjoyed allowances for his pending the appointment of a services. new one, would the PermSec so The MD said the minister on asked to act be paid the same his power as acting chairman of entitlement as the HoS?
Our Lives Under Threat, Ibadan Family Heads Cry Out to Buhari Ademola Babalola ÓØ ÌËÎËØ The Council of Ibadan Authentic Mogajis otherwise known as Family Heads yesterday raised the alarm that unknown persons were threatening them to desist forthwith from going to the Palace of Olubadan of Ibadan land at Popoyemoja or risk being killed. Addressing journalists at a hideout in Ibadan, the spokesman of the group, Chief Wale Oladoja, flanked by other executives of the forum, said: “Our lives are no longer safe here. And we begin to wonder what is our offence? For standing by the Olubadan to preserve our culture, traditional norm and values? “Frequent anonymous calls from the people we suspect to be agents of deaths are threatening all of us including the Chairman seated here, Mogaji Moshood Akere, the Vice Chairman, Mogaji Abass Oloko, the Coordinator, Mogaji Jelili Adanla, the Financial Secretary, Mogaji Ademola Olasomi and my humble self, to desist forthwith from going to Olubadan’s palace. “You recall that about a month ago, some yet to be identified gunmen stormed the Popoyemoja palace and shot sporadically to disrupt the peace there. Three of you journalists also escaped death by mere whiskers. What is befalling our land, what has come
over us in this great city, why are people showing impunity and lawlessness because they wield powers today, forgetting that tomorrow is greater than today? “And unfortunately too, other supporters of Kabiyesi are equally not left out in their threat. These people include our revered Osi Olubadan, High Chief Rashidi Ladoja, palace spokesman, Adeola Oloko, Tairu Akande, Prince Asawale Asanike including three other Mogajis; Badmus Adewale, Fatai Olanrewaju and Kosoko,” Oladoja stressed as others in attendance also affirmed the call threats in unison. Asked if the group had reported to the police for proper investigation, Oladoja said they are reaching out to them first through the public as represented by the media, adding that the group was disturbed that the fleeing gunmen were yet to be brought to justice, few weeks after the dastard act. Oladoja therefore called on President Muhammadu Buhari and the Inspector General of Police to wade in and caution whoever was behind the threat and recent attack to desist forthwith because “God forbids, if anything happens to any of us, we won’t take it with levity as we shall go all out to avenge any uprising because nobody can intimidate or cow us for being customs’ fighter and standing by the Kabiyesi.
COURTESY VISIT
L-R: Secretary to the Sokoto State Government (SSG), Prof. Bashir Garba, Commander of 1 Brigade, Sokoto, Brig-Gen Nwosu; Governor Aminu Waziri Tambuwal; and GOC, 8 Div,ision Sokoto, Brig-Gen S.O. Olabanji, when the army team visited Sokoto Government House.... yesterday
INC Crisis: Ijaw Leaders Sack Feuding Factions Emmanuel Addeh ÓØ ÏØËÑÙË The parallel executive committees of the Ijaw National Congress (INC) were yesterday dissolved by leaders of the Ijaw people spreading across six states of the Niger Delta. The leaders also set up an 11-member Constitution Drafting Committee chaired by a retired Justice of the Supreme Court, Francis Tabai, charging the committee to turn in a new constitution in one week, ahead of a national convention to constitute a new leadership. Like the Ijaw Youth Council (IYC), the INC had been plagued with claims and counterclaims over who should lead the once influential body which was founded to articulate Ijaw interests 26 years ago. At the meeting which was attended by several traditional
rulers and leaders I of the Ijaw nation, Governor Seriake Dickson of Bayelsa State, who expressed sadness over the division in the group, maintained that no self-seeking interest would be allowed to destroy the legacies of the founding fathers of the INC. The governor explained that the meeting was convened to seek the way forward for the Ijaw nation and called for mutual respect and understanding for one another towards promoting the unity and the aspirations of the Ijaw people. He warned against the politicisation of the body, emphasising that the future of the Ijaw nation could be better protected if members worked with unity of purpose. “Even when we disagree, we must do so in the overall interest of our people. Whether we agree
or disagree, it should be in such a way that will advance our common good. “The Ijaw nation is bigger than any one of us. We will, therefore, not allow anybody’s parochial ego to destroy an organization our forefathers put together over the years. “We have a lot of challenges now. Our people are pursued left, right and centre everywhere. It is only when we work together that we can protect our future,” Dickson said. The Ijaw leaders had earlier received the final report of the 20-man Ijaw National Peace and Reconciliation Committee (INRC). Along with the other leaders present, the governor said the elders would immediately commence the implementation of the recommendations of the committee.
Chairman of the committee, Diete Spiff said after due consultation with leaders of the Ijaw nation, as part of the sacrifices to stop the polarization and to further foster unity in the Ijaw Nation , the committee amongst other things recommended in the report, that the constitution of the INC should be reviewed. A former Deputy Governor of Rivers State, Sir. Gabriel Toby, served as deputy chairman of the committee, while Dr. Felix Tuodolo was the secretary and Gen. John Yeri (rtd) and Senator Inatimi Rufus-Spiff served as members. Some other members were: Gen. Cletus Emein (rtd), Dr. Amba Ambaowei, Prof. Kimse Okoko, Prof. Ayibaemi Spiff, Chief Francis Doukpola, Prof. Nimi Briggs, Prof. Joseph Ajenika, among others.
˜ ˜ ͺͿ ˾ T H I S D AY
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THURSDAYSPORTS
Group Sports Editor Duro Ikhazuagbe Email duro.ikhazuagbe@thisdaylive.com
WORLD CUP 2018 QUALIFIER
Algeria Moves Clash with Eagles to Blida Algeria has moved next month’s World Cup 2018 qualifier against Nigeria back to Blida as they aim to salvage some national pride in this dead rubber game. The match is scheduled for November 10. The North Africans lost 1-0 to Zambia in Constantine in September after they were forced to a 1-1 draw in their opening World Cup qualifier in October 2016. Group B bottom team Algeria’s only point from the qualifiers was therefore achieved in Blida. Meanwhile, Rabah Madjer has been tipped to return to make drastic changes as Algeria coach for a fourth time with his first match being the dead-rubber 2018 World Cup qualifier against Nigeria. Madjer, who will be assisted by Djamel Menad, will be expected to effect a revolution in the national team as he has been against players who have played at age-grade levels for France. Interestingly, Algeria fought back to international reckoning
after they capped at full international level many players who were born in France and even played for that country’s age-group teams. Madjer’s appointment is coming a fortnight after the Spaniard Lucas Alcaraz was fired following three losses in the World Cup qualifiers. Madjer, 58, has been considered ahead of another former international 41-year-old Djamel Belmadi. The former FC Porto Madjer last worked as a coach in 2006. He has been Algeria coach in 1994-95, 1999 and 2001-2002. However, Super Eagles Technical Adviser, Gernot Rohr, told SCORENigeria he hopes to line up his strongest team against Algeria even though Nigeria has already qualified for Russia 2018. Rohr said he wants to finish the qualifying campaign unbeaten and will rather parade an experimental team in a friendly after the match against Algeria. Morocco is likely to be one of Nigeria’s opponents for friendly games.
U P D AT E O N E B O L A J O K E
English FA Apologises to Eniola Aluko The English FA has apologised to two players after new evidence showed sacked England’s women’s boss Mark Sampson made remarks which were “discriminatory on the grounds of race”. An independent barrister ruled Sampson made unacceptable “illjudged attempts at humour” on two occasions, to Eniola Aluko and Drew Spence. Katharine Newton said despite this, she did not believe he is racist. She also concluded Aluko was not subjected to “a course of bullying”. Newton’s initial report, completed in March, had cleared Sampson, but the new evidence led to her investigation being resumed.
And a report of the reopened investigation, which says Sampson had difficulty judging boundaries around banter, was released as FA bosses and Aluko faced a parliamentary inquiry on Wednesday. The Chelsea striker said she felt “relieved” about the new report, adding: “It suggests it was kind of all worth it going through the trouble and having it vindicated.” FA chief executive Martin Glenn said Sampson, who was paid nine months’ salary on his departure, may proceed with a wrongful dismissal claim. He was sacked as England women’s boss last month after evidence of “inappropriate and unacceptable” behaviour with female players in a previous role.
C O PA L A G O S
Ejoor Promises to Blend Experience, Youth National Beach Football Coach, Adamu Ejoor, has promised to blend experience with youth in the forthcoming Copa Lagos competition. Ejoor was speaking on the recent development in which the invited foreign coach, Angelo Shirinzi, has discovered fresh legs for the sport. The coach stressed that the new players would fight for shirts to complement the efforts of the experienced ones. “We cannot just discard the experienced players like that. We are going to give them a chance but I will work hard to achieve a good blend for Nigeria. I commend the organisers for this great initiative which is a big boost to beach football in our country. “I only pray we have time to work with these players before the competition,” Ejoor said. Schirinzi who led Tahiti to win
silver at the last edition of beach football World Cup visited six centres in Lagos and said he was impressed with the talents he saw. “I was amazed to see many talented players in Lagos. Over 300 of them were brought together and I picked 23 who will be prepared for about 10 days before the Club Challenge at Copa Lagos,” he said. Managing Director of Kinetic Sports, organisers of COPA Lagos, Samson Adamu, is happy about the prospect of raising a new team for Nigeria. “We want to ensure the competition gets better every year and to raise a solid team for the forthcoming event. We are also looking at a bigger picture beyond the three-day competition. We want to give some youths the opportunity they have been looking for to excel,” Adamu said.
RESULTS Benfica 0-1 Man Utd CSKA 0-2 Basel Anderlecht 0-4 PSG Bayern 3-0 Celtic Qarabag 0-0 Atletico Chelsea 3-3 Roma Barca 3-1 Olympiacos Juventus 2-1 Sporting
Chelsea’s Gary Cahill (left) and Marcos Alonso (right) celebrating with Eden Hazard for the 3-3 equalising goal against AS Roma… last night
Rivers Angels Are Champions of 2017 Aiteo Cup Wike congratulates team for retaining the trophy Seriki Adinoyi in Jos Rivers Angels defeated Ibom Angels 3-0 in a penalty shootout yesterday at the Rwang Pam Stadium in Jos to emerge champions of the 2017 Aiteo Cup. Scores at Regulation time stood at one all. Gloria Ogbonna cancelled Cynthia Aku’s strike for Rivers Angels to drag the final into the penalty shoot out. The Rivers Angels showed their determination to retain the trophy as they were the better team in the spot kicks. Ibom Angels were poor in the shoot out, missing
all their first three kicks. For their efforts, Rivers Angels were presented with the sponsors star prize of N10million from Aiteo Group. Ibom Angels got the consolatory N5million as runners up. Meanwhile, the Rivers State Government has congratulated Rivers Angels Sports Club for emerging champions of the 2017 Aiteo Cup. Rivers State Governor, Nyesom Ezenwo Wike expressed happiness that Rivers Angels have continued to be worthy ambassadors of the state with their superlative displays on the
field of play. He said his administration will continue to support the ladies in their quest to win laurels for the good people of Rivers State. Wike reiterated the commitment of his administration to the promotion of sport as a tool of empowerment. Also speaking on the club’s victory, Rivers State Commissioner for Sports, Honourable Boma Iyaye expressed happiness at the feat of the team. Hon Iyaye also lauded the players and their handlers for justifying the confidence reposed on them by the Rivers State
Government. He also noted that the government will continue to support and invest in the team. “I want to commend Rivers Angels FC for this laudable feat. “ They have done well for themselves and also made Rivers State proud. “This victory is a clear testament of the tenacity, doggedness and display of the traditional Rivers spirit of excellence. “They have reposed the confidence reposed in them by the Rivers State Government and we are proud of them,” Hon Iyaye concluded.
Nigerian Oil Major, Aiteo Group, is New Title Sponsor of CAF Awards Nigeria’s foremost energy solutions company, Aiteo Group, has signed a partnership agreement with the Confederation of African Football (CAF) on the sponsorship of its annual award event, the CAF Awards. Dating back to the 1970s, the yearly awards event is organised to honour footballers and individuals who have excelled in various departments of the game. It brings together those who have made meaningful contribution to the development of football on the African continent. This partnership further deepens the participation of Aiteo in football. Already, the company is the Official Optimum Partner of the Nigerian Football Federation, and the sponsor of the country’s Federation Cup, which has now been renamed, “The Aiteo Cup.” Speaking on the commitment of Aiteo to the advancement of football in Africa, its Executive Vice President, Mr. Benedict Peters said: “This sponsorship shows that there is a clear momentum behind Aiteo’s involvement in the game. Buoyed by the success of our corporate social commitment
L-R: A U Mustapha (SAN); Aiteo Senior Vice President Gas & Commercial, Victor Okoronkwo; Aiteo Group Executive Director, Andrew Onyearu; Aiteo Group Managing Director, Chike Onyejekwe; and CAF President, Ahmad after signing the AITEO/CAF partnership deal in Lagos… recently in Nigeria that has resulted in our emergence as the first African nation to qualify for the World Cup, we are encouraged to advance our investment in the game to a continental level. “Our aim is to bolster the profile of African players globally, and encourage budding talents to put in their best.” “CAF Awards shares our values in relation to creating
opportunities, healthy competition and recognition for hard work. We plan on using this partnership to truly enrich the fan experience for millions of Africans.” Benedict Peters added. Reacting to the development, CAF President Ahmad, said: “We are very glad to welcome Aiteo on board this partnership. Aiteo is distinguished for its commitment to excellence and this sponsorship
is a demonstration of its confidence in CAF’s renowned value proposition as a veritable platform for brand extension across Africa. We look forward to a long and fruitful partnership.” The sponsorship agreement between the Aiteo Group and CAF was signed in Lagos on 15, October 2017 at the corporate head office of Aiteo.
T H I S D AY THURSDAY OCTOBER 19 2017
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MISSILE Samuel Ortom to Fed Govt “Those who want to stay in Benue State and do cattle business must ranch their cattle. I am calling for the arrest of the leadership of Miyetti Allah to deter others. We have for long time celebrated impunity in this country, and we cannot continue like that” Governor Samuel Ortom, on the Miyetti Allah group leadership, opposing the Benue State Anti-Open Grazing Act expected to come into force from 1st November
OLUSEGUNADENIYI THE VERDICT
olusegun.adeniyi@thisdaylive.com
Oh Lord, Release My Visa! F
ollowing the overwhelming reactions I got to my lecture titled, “If we stay here we die” at the 2015 edition of Platform, I decided to document not only the complete story of my brother who wasted about four years in the futile bid to migrate to Europe but also to look at the whole concept of irregular migration. Although I started the book, tentatively titled, “FROM FRYING PAN TO FIRE: How Nigerian young men and women ruin their lives trying to cross to Europe” two years ago, it was not until early this year (after completing ‘Against The Run of Play’) that I resumed serious work. Last Thursday, I was at the Nigerian office of the International Organisation for Migration (IOM) where I had an interesting meeting with senior officials, including the National Project Officer, Mr Sunday Tunde Omoyeni. While the population of irregular migrants leaving Nigeria keeps increasing, the worrying trend, according to the IOM, is that “many of the departures are no longer spontaneous individual decisions but a well-structured and carefully orchestrated agenda to escape difficult socio-economic situations, with the illusion that the economic situation in the destination country is better.” But it was the story told by OIM Programme Manager, Mr Frants Celestin that really got me. He recounted an experience on a recent visit to Benin, Edo State capital, where he saw a giant billboard advertising a church crusade programme with the theme: “Oh Lord, Release My Visa.” From my discussions with Mr Richard Young, European Union Deputy Head of Delegation to Nigeria and ECOWAS, as well as with officials at some embassies in Nigeria, we have a serious problem that must be tackled both at the level of government and society. A situation where all-night prayer vigils are organised for young men and women to bring their international passports for some spurious Visa “anointing” can only encourage the mindset that is driving many to perdition in the Sahara Desert and across the Mediterranean Sea. Meanwhile, I joined a select audience, comprising mostly diplomats, at the embassy of Switzerland on Monday evening for a preview of the television mini-series “The Missing Steps” produced by popular Nollywood actor, Mr Charles Okafor. Featuring some respected Nollywood actors and actresses, including Mr Nobert Young, it is the story of a young Nigerian undergraduate who left the country as an irregular migrant to Switzerland and the consequences of his action. The interesting thing for me, as I watched the movie, which will be serialised for 13 weeks on NTA, is that the experience depicted was not even half as harrowing as that of my brother who only survived through the mercy of God. In his welcome address, the Swiss Ambassador to Nigeria, Mr Eric Mayoraz, said while migration is a phenomenon that has existed since the creation of man, the challenge at the moment is irregular migration which has become “a problem for all: Countries of destination of course, but also countries of transit and countries of origin. And of course
Swiss Ambassador to Nigeria, Eric Mayooraz for the migrants themselves who are submitted to many abuses by criminal networks and often risk their own lives.” The television mini-series, according to Mayoraz, is one of the projects developed together with the IOM and the Nigeria Immigration Service (NIS), to address the problem. “With a growing number of irregular migrants leaving Nigeria in search of a better life elsewhere”, said Mayoraz, the need to escape difficult socio-economic situations presents the illusion that life will be better in the destination country. “This is not always true! Not when irregular migration routes have to be followed”. The number of irregular migrants from Nigeria increases by the day, such that even children now engage in this dangerous journey along what the IOM Chief of Mission in Nigeria, Ms Enira Krdzalic described as “treacherous route” through a stretch of the Mediterranean Sea, linking Libya to Italy. Available statistics, Krdzalic argues, “indicate that Nigerian migrants account for the highest number of arrivals in Italy by sea, with about 17,000 compared to total 99,127 migrants that arrived in Italy by seas of all countries between January and August this year.” The common denominator for these risk takers—majority of who end up either dead or languishing in some detention centres in Chad, Niger or Libya—is the desperation for a better life for themselves and their families which then tasks all of us on the need to begin to provide the opportunities here for our young population. “We cannot continue to open our eyes seeing our youths, the hope of our country, losing their lives while embarking on a dangerous journey with little or no hope of reaching their desired destinations” declared Krdzalic. While we can make noise about denial of visas to Nigerians, what should not be lost on our people is that several countries are already tightening their immigration laws against territories where citizens migrate for economic reasons. Nigeria is top on that list. In June 2013, the then British Home
Secretary, Mrs Theresa May, came up with a discriminatory immigration policy that first-time visitors from Nigeria, Bangladesh, Sri Lanka, Ghana, Pakistan and India would be expected to secure a £3,000 cash bond before they could enter the United Kingdom, even though the idea was later suspended. “This is the next step in making sure our immigration system is more selective, bringing down net migration from the hundreds of thousands to the tens of thousands while still welcoming the brightest and the best to Britain,” Mrs May, who is now the British Prime Minister, said at the time. What that means is that Britain, and it is same for most other countries, would only take “the brightest and the best” that would add value to their societies, not desperate migrants driven out of their countries by poverty and deprivation. Against the background that statistics from UNESCO reveals that a huge percentage of the total number of out-of-school children in the world come from Nigeria, how do our young citizens who choose to run away even begin to compete for that those available spaces for “the brightest and the best”? The problem is compounded by the fact that projections from the United Nations indicate that Nigeria’s population could rise to 440 million by 2050. Such uncontrolled population growth of largely illiterate people poses serious threat to our national survival. While our leaders, most of who are now preoccupied with erecting statues, seem unconcerned about this challenge, leaders of other countries are. As I have written several times on this page, the 1974 controversial book, “Life Boat Ethics: The case against helping the poor” by Garrett Hardin has now become a ready handbook for policy makers in most immigration departments of Western countries. Metaphorically, according to Hardin, “Each rich nation can be seen as a lifeboat full of comparatively rich people. In the ocean outside each lifeboat swim the poor of the world, who would like to get in, or at least to share some of the wealth. What should the lifeboat passengers do?” he asked. This was the way Hardin answered his own question: “So here we sit, say 50 people in our lifeboat. To be generous, let us assume it has room for 10 more, making a total capacity of 60. Suppose the 50 of us in the lifeboat see 100 others swimming in the water outside, begging for admission to our boat or for handouts. We have several options: we may be tempted to try to live by the Christian ideal of being ‘our brother’s keeper,’ or by the Marxist ideal of ‘to each according to his needs.’ Since the needs of all in the water are the same, and since they can all be seen as ‘our brothers,’ we could take them all into our boat, making a total of 150 in a boat designed for 60. The boat swamps, everyone drowns. Complete justice, complete catastrophe.” Hardin, who can be categorized among the rising population of right-wing politicians in the West, could not resist taking a dig at his compatriots who support migration as a rational and legal choice in an increasingly
interdependent world: “Some say they feel guilty about their good luck. My reply is simple: ‘Get out and yield your place to others.’ This may solve the problem of the guilt-ridden person’s conscience, but it does not change the ethics of the lifeboat. The needy person to whom the guilt-ridden person yields his place will not himself feel guilty about his good luck. If he did, he would not climb aboard.” However, the critical point in Hardin’s thesis is that most of the countries where citizens are fleeing are suffering the consequences of the choices they make, especially regarding unbridled population explosion for which Nigeria is particularly guilty: “The harsh ethics of the lifeboat become harsher when we consider the reproductive differences between rich and poor. A wise and competent government saves out of the production of the good years in anticipation of bad years to come. Joseph taught this policy to Pharaoh in Egypt more than 2,000 years ago. Yet the great majority of the governments in the world today do not follow such a policy. They lack either the wisdom or the competence, or both. Because of the higher rate of population growth in the poor countries of the world, 88 percent of today’s children are born poor, and only 12 percent rich. Year by year the ratio becomes worse, as the fast-reproducing poor outnumber the slow-reproducing rich…” I am quite aware that when it comes to the subject of population, my brother, Sonnie Ekwowusi and others like him would— essentially on the basis of religious dogma—be up in arms. But I am of the firm conviction that only a moderate population growth that enables high quality of life for majority of citizens can guarantee a sustainable society. We must therefore address the challenge of development while coming to terms with the fact that it is no longer easy for our nationals to go abroad in search of the proverbial greener pastures that have become, in the words of Krdzalic, “a desperate leap into the unknown”.
Adieu Haruna, Olukareh
I
n January 2013, I was invited by the then Director General of Bureau of Public Procurement (BPP), Mr Emeka Ezeh to speak at a seminar organised for Federal Permanent Secretaries in Lagos. After my session, almost all the top bureaucrats collected my contact details. But it was only Mr Taiye Haruna, the then Permanent Secretary, Federal Ministry of Environment, who followed up with calls and we became friends afterwards. It was therefore a rude shock to learn that he died last Saturday at the age of 59. And yesterday, I attended the service of songs for a younger friend, Adeshina Samuel Olukareh, 43, a senior manager at the UBA who died three weeks ago. May God comfort the families the duo left behind.
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